Altcoin
3 Altcoins Pumping Again Soon!Since you enjoyed my previous post about 3 Altcoins Rejecting the $5 mark!
Here's an interesting one about altcoins in a deep correction phase after an aggressive pump:
BINANCE:NEOUSDT
After a 200% surge, NEO is currently in a correction phase and rejecting the $15 demand zone.
As long as the $15 support holds, a expect a bullish continuation towards the $21 supply and then $25.5 previous major high.
BINANCE:TRXUSD
After a 180% surge, TRX is currently in a correction phase and rejecting the $0.25 mark.
As long as the $0.25 holds, a expect a bullish continuation towards the $0.33 supply and then $0.43 previous major high.
BINANCE:QTUMUSDT
After a 180% surge, QTUM is currently in a correction phase and rejecting the $3.5 demand zone.
As long as the $3.5 holds, a expect a bullish continuation towards the $4.8 supply and then $5.7 previous major high.
Which altcoins would you like me to cover next?
All Strategies Are Good; If Managed Properly!
~Rich
Wagyuswap is showing some millionaire potential!Potential Millionaire Maker?
It’s no secret that the crypto landscape continuously rewards early movers who identify undervalued gems before they explode. WAGYUSWAP, with its promising pattern, upcoming developments, and strong technical setup, is positioning itself as a potential breakout star. As it stands on the cusp of a bullish reversal, WAGYU offers a unique window of opportunity for savvy investors. If the fundamentals align with the chart signals and the broader market sentiment improves, WAGYU could well be the next project to mint new millionaires—especially those who get in before the major breakout.
Technical Analysis Overview:
WAGYUSWAP (WAGYU) is showing strong signs of a potential trend reversal on its 4-hour chart. After a period of consolidation and price contraction, WAGYU appears to be carving out a textbook falling wedge pattern, often considered a bullish signal. This pattern, characterized by a series of lower highs and lower lows converging into a narrowing price channel, can indicate that seller momentum is drying up and a powerful bullish breakout may be imminent.
Key Indicators and Signals:
Falling Wedge Formation:
The price recently touched the lower boundary of the wedge and showed a decisive bounce. Historically, when a falling wedge resolves, it often leads to a sudden surge in buying pressure and can trigger swift upward price action.
Volume and Momentum Oscillators:
Trading volume spikes at key support levels suggest that “smart money” might be quietly accumulating WAGYU. Simultaneously, momentum indicators such as the RSI and Stochastic oscillators are recovering from oversold conditions, signaling that selling fatigue may be reaching its limit. A bullish crossover here can foreshadow a strong upswing.
Bollinger Bands and Moving Averages:
WAGYU’s price is starting to curl back up towards the middle Bollinger Band. A sustained move above the 20-period moving average would confirm an upward bias. If the token can break above its upper wedge trendline with significant volume, a retest of the prior high levels is highly probable.
Fundamental Factors & Recent Developments:
Ecosystem Growth: Rumor has it that the Wagyuswap development team is on the verge of announcing cross-chain integrations, making WAGYU accessible to a broader range of investors and ecosystems. Such integrations often act as catalysts for price appreciation, as more liquidity and use-cases pour into the platform.
User Interface Upgrade & Marketing Push: There’s chatter within the community about a forthcoming user interface (UI) overhaul designed to attract a wider audience. Combined with new marketing campaigns, these moves could capture the attention of yield farmers and token enthusiasts hungry for the next big opportunity.
Potential Exchange Listings: Whispers in the community suggest that Wagyuswap may soon be listed on additional centralized exchanges, further enhancing liquidity and credibility. This can accelerate mainstream adoption and ignite a rapid climb in price.
Price Targets & Potential Upside:
Short-Term (1-2 Weeks):
After breaking out of the falling wedge, WAGYU could swiftly reclaim the $0.0012 – $0.0015 zone. This region represents the token’s first significant target and psychological barrier. A confident close above $0.0015 could embolden traders and trigger a second wave of buying pressure.
Mid-Term (1-3 Months):
As the market gains confidence and fundamentals align, there’s potential for WAGYU to test the $0.0020 – $0.0025 range. This scenario hinges on continuous ecosystem development, brand visibility, and improving overall market sentiment.
Long-Term Vision:
Should Wagyuswap’s cross-chain functionality, UI upgrades, and possible listings materialize, the token could capture a significant share of the decentralized exchange market. Early adopters could find themselves sitting on a token that not only breaks through previous highs but continues to appreciate as adoption and total value locked (TVL) expands.
Wagyuswap is at an exciting crossroads. Technical analysis suggests that a bullish breakout is on the horizon, while fundamental developments may soon ignite substantial hype and investor interest. In the rapidly evolving world of decentralized exchanges, WAGYU stands out as a hidden gem poised for a significant run. Keep an eye on the upcoming announcements and price action—this could be your chance to secure a position in a potential future leader of the crypto DEX space.
Velas (VLX) Technical Analysis & Market OutlookIf VLX manages to decisively break through the $0.0150 zone on strong volume, we could witness a sharp run-up toward the mid-$0.02 range and beyond. This would represent a significant percentage gain from current levels and could attract additional investor attention, turning VLX into a strong contender in the upcoming bull cycle.
Fundamental & Ecosystem Developments:
Beyond the charts, Velas has been steadily expanding its ecosystem. There’s growing anticipation around the team’s forthcoming technology upgrades, performance enhancements, and potential new partnerships. With advanced innovations in AI-driven blockchain efficiency and high-throughput capabilities, Velas is positioning itself as a key infrastructure player in the next wave of Web3 applications. Recent community buzz suggests that several dApps preparing to launch on the Velas network could boost user engagement and raise the platform’s visibility across DeFi, NFTs, and gaming.
Moreover, whispers on social media channels hint at upcoming strategic marketing campaigns and ecosystem grants that may attract talented developers from rival networks. As these moves become more public, expect a renewed wave of interest that could feed directly into a price surge.
The window of opportunity appears to be narrowing. VLX is currently trading at ground-floor prices relative to its historic highs. As the cryptocurrency market inches towards a new cycle of growth, Velas stands out as a strong candidate to outperform, thanks to its robust technology, upcoming ecosystem expansions, and improving market sentiment.
Imagine the Scenario:
A successful breakout from the ascending channel could catapult VLX back to its glory days, making the current price level look like a massive discount in hindsight. Savvy investors who recognize the early-stage accumulation phase might be set to enjoy exponential returns as VLX re-enters the spotlight.
Price Prediction (Speculative):
Short-Term (2-4 weeks): A quick push to $0.018-$0.022 if the current bullish setups confirm.
Medium-Term (1-3 months): With strong fundamentals and market tailwinds, VLX could retest $0.030, reviving the enthusiasm of early adopters and attracting waves of new buyers.
All signs—technical indicators, fundamental growth, and rising market chatter—point towards an exciting near-term rally for VLX. This is the kind of pivotal moment seasoned traders wait for: a fundamentally strong asset quietly accumulating, poised for a breakout, with big news and expansions on the horizon.
If you’ve been waiting to join the Velas story, now could be the time to hop on board before the rocket ignites. Strap in and keep your eyes on the charts—VLX may be on the verge of writing its next big chapter.
TOTAL2 - Fib and Channel Support0.786 fib shows a strong support point with prices continually being rejected to the bullish side
As price has dumped to this level I ask will this bump back up again as it has in the past?
This dump can also be plotted in with a long channel of the bull run we have been having, showing support at the bottom of the channel.
I'm still bullish over this temporary retrace
Cardano ($ADA) Dips 8% After Foundation’s X Account HackCardano ( CRYPTOCAP:ADA ), one of the largest cryptocurrencies by market cap, faced significant turbulence after the Cardano Foundation’s X account (@Cardano_CF) was compromised on Sunday. This breach resulted in false promotions and market concerns, triggering an 8% drop in ADA’s price. Here’s a comprehensive analysis of the incident and the technical and fundamental outlook for the coin.
The Hack and Market Sentiment
The compromised X account propagated false information, including:
- Promotion of a fake token, ADAsol: Claimed as a partnership between Cardano and Solana.
- False claims of ADA withdrawal halts: Allegedly tied to SEC actions, further amplifying market fears.
The Cardano Foundation promptly addressed the issue, urging users to disregard any posts from the hacked account. Despite this, the damage to market sentiment was palpable, as fear and uncertainty gripped traders.
Broader Implications
This incident underscores the vulnerability of social media platforms to cyberattacks, even for established blockchain entities. It also raises critical questions about the need for enhanced cybersecurity in the crypto ecosystem.
However, amidst the chaos, optimism persists. Whale activity has shown signs of accumulation, suggesting that large investors still hold faith in ADA’s long-term prospects. Additionally, Cardano’s strong monthly performance—166% gains—indicates the potential for recovery.
Technical Analysis
At the time of writing, CRYPTOCAP:ADA trades at $1.115, reflecting a 6.79% drop intraday. The coin’s immediate range shows:
- Intraday low/high: $1.15–$1.22
- RSI (Relative Strength Index): 49, indicating weak momentum but a potential buy zone for opportunistic traders.
Market Outlook
While the hack triggered bearish sentiment, ADA’s price action aligns with broader market trends. Bulls will need to reclaim $1.22 to resume the upward trajectory seen earlier in Q4. Meanwhile, sellers may dominate if ADA fails to hold above the 38.2% Fib retracement level.
The Road Ahead
The X account hack could continue to weigh on ADA’s price in the short term. Negative sentiment might lead to increased selling pressure, especially if there are delays in restoring the compromised account.
Long-Term Prospects
Despite this setback, ADA’s bullish fundamentals remain intact:
- Whale Accumulation: Signals strong institutional confidence.
- Q4 Market Optimism: Renewed interest in cryptocurrencies positions ADA for potential gains.
Conclusion
The Cardano Foundation’s X account hack has undeniably shaken market confidence, resulting in an 8% dip in ADA’s price. However, with strong fundamentals and signs of whale accumulation, the coin still holds promise for recovery.
Traders should closely monitor technical levels and broader market trends to navigate this volatile period. For long-term holders, ADA remains a compelling investment, backed by its ecosystem and community support.
ETH - Doing it AGAIN...Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈ETH has been bullish trading within the rising channel in red.
Currently, ETH is rejecting the upper bound of the channel, so a bearish correction is expected.
Moreover, the green zone is a strong structure.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green structure and lower trendline acting as non-horizontal support.
📚 As per my trading style:
As #ETH approaches the blue circle, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Say It Back #Altseason
#Alts market cap TOTAL3 2021 #Altcoins rose 220% after breaking the 2018 ATH level ($358B), which was the major resistance before the parabolic run, reaching a local peak of $1.13T.
Major run will be inevitable after the breakout and retest of the 2021 ATH level of $1.13T is completed.
TradeCityPro | CFX : Breaking Out of Consolidation👋 Welcome to TradeCityPro!
In this analysis, I’m going to review the CFX coin. After consolidating for a long time within a box between 0.1147 and 0.1903, the price has finally broken the upper boundary of the box and is moving upward.
📅 Daily Timeframe: Multiple Resistances Above the Price
On the daily timeframe, after breaking 0.1903, the price gained strong bullish momentum, and a significant amount of buying volume entered the market. However, upon reaching the first resistance at 0.2572, the price failed to break through and is now consolidating below this level.
✨ The RSI oscillator is exiting the Overbuy zone. If it manages to remain or re-enter the Overbuy zone, the price could continue its upward movement.
📈 In case of a breakout above 0.2572, the next resistances will be 0.3564 and 0.5125. If the price manages to stabilize above these levels, the next target will be 1.0368, which represents the ATH resistance of this coin.
🔽 Correction Scenario
The first support level is at 0.1903, and the next one is at 0.1147, which is the final stronghold for buyers to maintain the price.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
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IMX | ALTCOINS | Altcoin that CAN STILL +25%Immutable (IMX) is one of few good alts tat hasn't quite seen the parabolic increases that the rest of the altcoin market has seen.
IMX still has some room for growth until it hits the next major resistance zone, and even more if you consider the previous ATH at 4.6 (currently at 2$).
Make sure you don't miss the Bitcoin update, and why I say the ATH is in :
___________________
BINANCE:IMXUSDT
SOLANA LOOKING ALL TIME HIGHS - SOL LONGPrice rejected strongly from the daily demand zone after running the daily swing liquidity. This move created a 4H demand zone. Following that, we saw a break of the bearish trendline, with a retest of both the trendline and the 4H demand.
I entered a position during this retest, even as BTC was aggressively dumping by over $10K, which is why I couldn’t share this idea in real time. However, I am already in this trade and targeting a bare minimum of $271 as the next level.
ARB Analysis Pump IT Looking at this chart, do not underestimate the potential of ARB. The price could reach its target much faster than expected, potentially even before the projected timeline of April 2025.
If it does reach this level ahead of schedule, you’ll be surprised by the price it achieves. Let’s just say it’s a double-digit figure, but I’ll keep the exact number to myself for now.
Stay tuned—this is going to be an exciting journey! 🚀
Ethereum ($ETH) Surges to $4,000: What’s Driving the Momentum? Ethereum ( CRYPTOCAP:ETH ), the second-largest cryptocurrency by market cap, has hit a significant milestone, surging past $4,000. This breakout reflects both strong fundamental developments and compelling technical indicators. Let’s dive into what’s fueling this rally and the opportunities it presents for traders and investors.
The Power Behind Ethereum’s Rise
Ethereum ETFs See Record Inflows
On December 5, Ethereum ETFs recorded a historic inflow of $428.4 million. This surge in institutional interest signals growing confidence in Ethereum as a viable investment vehicle. The sharp contrast from the usual average of $100 million highlights an increasing appetite for exposure to CRYPTOCAP:ETH , particularly among institutional investors.
Ethereum’s Resilient Ecosystem
Ethereum’s robust infrastructure continues to solidify its position as the leading platform for decentralized applications (dApps) and smart contracts. With a live market cap of $483 billion and a 24-hour trading volume exceeding $58 billion, ETH showcases unparalleled activity compared to other altcoins.
Ethereum’s success stems from its capability to evolve. Recent updates like the “London” hard fork and the transition to Ethereum 2.0’s Proof of Stake mechanism have drastically reduced energy consumption while improving scalability and transaction speeds.
Impressive ROI for Long-Term Investors
Ethereum’s initial price during its 2014 ICO was $0.311. With today’s price hovering around $4,014.14, the return on investment (ROI) has grown to an annualized rate of 270%. This performance has outpaced most traditional assets, making ETH a lucrative choice for early adopters and new investors alike.
Technical Analysis
Ethereum is currently up 5.95% in the last 24 hours, trading within a bearish continuation pattern. Despite this, the momentum has carried ETH into a critical price range.
The RSI is at 70, indicating that ETH is approaching the overbought region. This suggests a potential for price cooling or correction in the short term. However, this level also reflects strong buying pressure.
Key Support and Resistance Levels:
In the event of a pullback, the 38.2% Fibonacci retracement level will act as a key support zone. This level often serves as a re-entry point for traders looking to buy during corrections.
Trading Volume Surge
A 24-hour trading volume of $58 billion highlights high market activity, which often precedes significant price movements.
Opportunities for Traders and Investors
For day traders, ETH’s current price action presents potential setups:
1. Buying the Dip: If ETH retraces to the 38.2% Fib level, it provides a low-risk entry point.
2. Breakout Trading: Should ETH break out of its bearish continuation pattern, it could rally further, targeting $4,200 and beyond.
Long-Term Investment Outlook
Fundamental drivers like Ethereum ETFs and the platform’s dominance in DeFi and dApps suggest a strong case for long-term growth. Institutional adoption continues to rise, and Ethereum’s development roadmap positions it as a leader in blockchain scalability and security.
Conclusion
Ethereum’s surge to $4,000 marks a significant achievement driven by a mix of technical bullishness and strong fundamentals. With Ethereum ETFs seeing record inflows, robust ecosystem updates, and increasing adoption, CRYPTOCAP:ETH is well-positioned for sustained growth.
However, traders should remain cautious of potential corrections, especially with RSI levels signaling overbought conditions. For investors with a long-term horizon, Ethereum remains a cornerstone asset in the crypto market, promising innovation, resilience, and growth.
Will Ethereum maintain its bullish momentum, or is a correction on the horizon? Let us know your thoughts in the comments!
Velas (VLX) Technical Analysis & Market OutlookVelas (VLX) Technical Analysis & Market Outlook
Velas (VLX) is rapidly emerging as one of the most compelling opportunities in the crypto space, standing at what may be the cusp of a transformative price breakout. The confluence of fundamental catalysts and technical indicators now suggests that early adopters could be on the brink of accessing a rare window—one that has the potential to create the next generation of crypto millionaires.
Technical Setup:
Price Structure & Support Levels:
VLX has spent a prolonged period consolidating at historically low price ranges, building a rock-solid base of support. Notably, the weekly chart shows Velas price action compressing tightly above a significant horizontal support line—one that has historically acted as a springboard for accelerated moves. This extended period of accumulation often precedes large-scale breakouts, as selling pressure diminishes and strong hands continue to accumulate supply.
Volume & Momentum Indicators:
In recent weeks, trading volume has begun to shift from idle stagnation toward a gradual uptick. This “quiet accumulation” phase is frequently the calm before the storm.
Key indicators are flipping bullish:
MACD: The MACD on mid-to-long-term time frames is curling upward from deeply oversold conditions, a classic sign that bears are losing control. As it crosses into positive territory, it telegraphs a sentiment change from weakness into potential sustained bullish momentum.
RSI (Relative Strength Index): The RSI, previously languishing in oversold territory, is now climbing steadily, suggesting the market is regaining strength. This early uptick can be a precursor to explosive price moves.
Stochastic Oscillator: The stochastic is emerging from oversold zones, hinting at a refreshed cycle of buying interest and potential price expansion on higher time frames.
Fundamental Catalysts:
Velas 2.0 & Ecosystem Expansion:
The upcoming Velas 2.0 upgrade, which aligns closely with the ultra-scalable Solana architecture, has the community buzzing. By combining the speed of Solana’s codebase with Velas’s innovative protocol enhancements, VLX stands positioned to deliver transaction throughput and efficiency that can attract a massive wave of developers and users.
Over 300 projects are reportedly involved with or building on Velas 2.0—this is not mere rumor; it’s a solid testament to the chain’s evolving ecosystem. More projects mean more total value locked (TVL), increased on-chain activity, and ultimately, stronger demand for VLX tokens.
Cross-Chain Capabilities & Real-World Use Cases:
Velas is designed not just as a blockchain, but as a high-performance platform conducive to DeFi, NFTs, and enterprise solutions. This strategic positioning has the potential to capture market share from slower or less developer-friendly networks. As real-world adoption intensifies, the fundamental floor of VLX’s valuation could rise dramatically.
Opportunity on the Horizon:
The stars are aligning for Velas. Technically, the chart pattern resembles those rare early-stage setups that seasoned traders hunt for—those that, when triggered, often deliver triple or quadruple-digit percentage gains. Fundamentally, Velas is putting the pieces in place to compete head-to-head with top-tier smart contract platforms. The upcoming fork and ecosystem expansion are not mere “news events”; they are growth engines that could send shockwaves through the crypto space.
Vision for the Future:
Imagine having identified Ethereum, Solana, or Avalanche in their infancy—before they catapulted early believers into life-changing wealth. Velas is setting itself up to become the next big name in blockchain infrastructure. Those who recognize the undervalued strength of Velas at these levels may find themselves positioned at the very start of something monumental.
VLX is not just another altcoin; it’s a potent contender. With technical indicators lining up and massive fundamental developments on the horizon, Velas has all the makings of a star performer in the coming market cycle. While no investment is risk-free, and due diligence is always essential, the current landscape suggests that those who seize the opportunity now could be writing their own success stories in the years to come. This is the moment where savvy investors separate themselves from the crowd—join the ranks of tomorrow’s crypto millionaires and keep Velas firmly on your radar.
WAG Analysis & Market Outlook: The Millionaire-Making SetupWagyuSwap (WAG) Technical Analysis & Market Outlook: The Millionaire-Making Setup
In today’s high-speed blockchain landscape, standing out isn’t easy—yet WagyuSwap (WAG), the flagship DEX on Velas, is positioned to become the breakout DeFi opportunity savvy investors have been waiting for. With Velas seamlessly implementing a Solana-inspired fork, the network’s rapid scalability, ultra-low fees, and lightning-fast transactions are primed to drive an influx of new users and capital. As a core pillar in this emerging ecosystem, WagyuSwap is set to reap the rewards, and those who act early could be looking at life-changing gains.
Key Technical Signals:
Bottoming Formation & Consolidation:
After a long period of price compression, WAG’s chart structure is signaling that the token may have carved out a significant long-term bottom. Prolonged horizontal price action near its historical support range suggests that supply is drying up and strong hands are accumulating. This kind of consolidation often precedes a powerful upward thrust as soon as catalysts spark renewed interest.
Volume & Liquidity Hints of Incoming Surge:
While volume has been relatively muted in recent months, early signs of rising interest from decentralized finance communities indicate that a surge could be imminent. As Velas begins to capture wider market attention—touted as the next big chain to follow Solana’s explosive trajectory—WagyuSwap’s pools, farms, and exchange services stand ready to absorb a massive inflow of capital. When volume catches fire, WAG’s price could race ahead.
Momentum Oscillators Turning Bullish:
Key indicators like the RSI and Stochastic Oscillator are shifting from oversold to more neutral or bullish territory. This subtle pivot in momentum reflects a market that’s no longer dominated by sellers. As these technical gauges begin flashing green, it often marks the early phase of a larger trend reversal—imagine catching the first wave before it swells into a tsunami.
Rising Social & Fundamental Catalysts:
Beyond the chart, the fundamentals are nothing short of compelling. Velas’ innovative approach—blending EVM compatibility with Solana-like throughput—positions it as the next major blockchain to explode in both developer activity and user adoption. WagyuSwap, as the ecosystem’s primary DEX, will naturally function as the gateway for traders, liquidity providers, and yield farmers flooding into the Velas universe.
Why This Could Be the Millionaire Maker:
Think back to the early days of Uniswap on Ethereum or PancakeSwap on Binance Smart Chain. Both times, early believers saw incredible, parabolic gains as their chosen platforms became household names in crypto. WAG’s positioning on Velas offers a similarly transformative opportunity. With the chain’s technical advantages setting the stage for exponential growth, the DEX at its heart stands to capture the lion’s share of that upside.
As more projects deploy on Velas, more users will need a trusted platform to trade their tokens, earn yield, and manage portfolios. WagyuSwap is that platform. By getting involved now—before the masses realize what’s happening—you’re effectively positioning yourself at ground zero of what could become the next big DeFi powerhouse. And when the network effect takes hold, what starts as a small rumble can grow into a full-blown moonshot, sending WAG’s valuation skyrocketing.
All the ingredients are in place: a cutting-edge blockchain ready to replicate Solana’s explosive success, a DEX perfectly positioned at the center of this network, and technical indicators signaling the calm before the storm. If history has taught us anything, it’s that fortunes are made by those who seize the opportunity before everyone else. WagyuSwap is poised to follow in the footsteps of the great DeFi titans, and you have the chance to be an early participant—potentially riding WAG from its current undervalued state straight into the ranks of future crypto millionaires.
The window of opportunity is open, but it won’t stay that way forever. Take a hard look at WagyuSwap and Velas right now, because the next few months could redefine what it means to be early in crypto’s next breakout ecosystem. This is your moment—don’t let it pass you by.
ICP Breakout Signals a 40% Surge as Bitcoin Hits $100kCRYPTOCAP:ICP , a popular altcoin, is gaining momentum as it approaches a breakout from its 5-month consolidation channel. If the breakout sustains, it could pave the way for a substantial move of up to 40% 🚀. Expect FOMO into large-cap altcoins as traders realize they've missed the bitcoin rally to $100k.
SUI TARGETS ALL TIME HIGHS - SUI NETWORK LONG IDEAThe price ran the daily swing liquidity but failed to close below, showing a strong rejection after the liquidity grab. It created a 4H demand zone, and the price tested this zone with another strong rejection. Recently, we broke the bearish trendline, followed by a retest.
I entered the trade at the trendline bounce and am targeting new highs.
SL: $2.97 (Daily close below)
TP: $3.95 (ATH)
ETH - Trend-Following Long!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈ETH has been bullish trading within the rising channel in red.
Currently, ETH is approaching the lower bound of the channel.
Moreover, the level marked in green is a strong round number $3,500.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the round number and lower trendline acting as non-horizontal support.
📚 As per my trading style:
As #ETH approaches the blue circle, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich