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BTCUSDT.1DReviewing the BTC/USDT daily chart, I've identified key technical elements that provide insights into Bitcoin's current market dynamics and potential future movements. Current Situation: BTC/USDT is currently trading at approximately $68,775.98, reflecting a rise of about 1.28% for the day. The price action over recent months shows a somewhat volatile trend with a pattern of higher lows, suggesting an underlying bullish sentiment. Technical Analysis: Support and Resistance Levels: S1 (Support 1): Positioned at $62,733.44, this level has served as both support and resistance throughout 2024, indicating its significance. Holding above this level is crucial for maintaining the current bullish momentum. S2 (Support 2): At $57,013.57, this level represents a stronger psychological and technical support, marking a previous consolidation zone. R1 (Resistance 1): The immediate resistance is at $77,193.65. This level needs to be breached to confirm continuation of the upward trend towards historical highs. R3 (Resistance 3): At $83,778.60, approaching this level would likely require a significant bullish catalyst, such as positive regulatory news or macroeconomic factors favoring cryptocurrencies. Moving Average Convergence Divergence (MACD): The MACD line is above the signal line and appears to be maintaining a bullish trajectory, although the histogram shows some decrease in momentum. This could suggest a potential consolidation or slight pullback before further upward movement. Relative Strength Index (RSI): The RSI at 61.12 suggests that Bitcoin is neither overbought nor oversold, operating within a healthy range. There's room for upward movement without immediate concerns of being overbought. Conclusion: As of now, the bullish signals dominate the chart with both MACD and RSI indicating positive momentum, albeit with a caution of potential consolidation due to the histogram's behavior. My strategy would involve closely watching the $62,733.44 support level. A hold above this level can be seen as a confirmation of continued bullish sentiment, potentially aiming for the $77,193.65 resistance. Conversely, a break below could signal a shift in market dynamics, necessitating a reassessment of the bullish outlook. For traders and investors, it's advisable to place stop losses just below key support levels to protect against unexpected downturns. Additionally, keeping an eye on global economic indicators and crypto-specific news will be crucial in navigating the volatility inherent in Bitcoin's market.
by MarsSignals
BNBUSDT.1DIn my detailed technical analysis of the BNB/USDT chart, I've assessed the price movements and identified several critical technical indicators that provide a clear picture of Binance Coin's current trading environment and its potential future trajectory. Technical Overview: As of the latest data, BNB is trading around $584.9. It's up slightly by 0.69% on the day, with the chart showing a resilient uptrend over the past few months, highlighted by the ascending trendline. Key Technical Indicators: Support Levels: S1 ($498.1): This level has provided strong support throughout recent price movements. The price rebounding off this level has reaffirmed its significance as a strong base for BNB. S2 ($359.5): This level is much lower and would likely come into play only in a significant market downturn. Resistance Levels: R1 ($644.8): This is the immediate resistance level facing BNB. It has acted as a stiff resistance point recently, with the price failing to break and hold above this level multiple times. Moving Average Convergence Divergence (MACD): The MACD line is above the signal line but very close, indicating a potential cooling off of the bullish momentum. However, the histogram is still in positive territory, suggesting that the upward trend might still have some energy left. Relative Strength Index (RSI): The RSI is at 55.03, which is neither in the overbought nor oversold territory. This suggests a balanced market sentiment with potential for either direction, though it leans slightly towards bullish sentiment without immediate risk of reversal. Chart Patterns: The ascending trendline from the lows of early 2024 acts as a dynamic support, guiding the uptrend. This trendline is critical; as long as the price remains above this line, the bullish outlook remains valid. Conclusion: The current setup in the BNB/USDT pair is cautiously optimistic. The maintenance of price above the ascending trendline and S1 at $498.1 is pivotal for sustaining bullish momentum. My focus will be on the $644.8 resistance level. A decisive breakout above this level could propel BNB towards new highs, potentially retesting the all-time high near $721.8. Given the current market conditions, traders should consider a strategy that allows for flexibility in response to price actions near these key levels. Setting stop losses slightly below S1 could help mitigate risks in case of sudden bearish reversals. As always, staying updated with any broader market news or changes in crypto regulations is crucial for adjusting strategies promptly.
by MarsSignals
ETHUSDT.1DAnalyzing the ETH/USDT daily chart provides a comprehensive view of Ethereum's current market behavior and potential future movements based on the displayed technical indicators and patterns. Current Market Position: As of now, ETH/USDT is trading at around $3,267.79, showing a minor decline of 0.2% on the day. This follows a period of volatility where Ethereum tested various support and resistance levels. Key Technical Indicators: Support Levels (S1 and S2): S1 ($2,837.73): This level has been tested several times in recent months and has provided a solid base for Ethereum. It currently serves as a crucial marker for the bearish threshold. S2 ($2,112.62): This support level is significantly lower and has not been approached recently but remains an important psychological and technical support in case of a substantial market downturn. Resistance Levels (R1 and R2): R1 ($4,134.34): This resistance level has capped upward movements in the past and remains a key target for bullish momentum to overcome. R2: This is extrapolated to be much higher and would likely come into play should Ethereum gain strong market enthusiasm, breaking past the previous highs. Technical Indicators: MACD (Moving Average Convergence Divergence): The MACD line is below the signal line, indicating bearish momentum. The histogram, currently at zero, suggests a lack of strong momentum in either direction, pointing to potential consolidation. RSI (Relative Strength Index): The RSI is at 54.86, indicating a neutral position. This suggests that while the market isn't in overbought or oversold territory, it's balanced with a slight tilt towards bullish sentiment given it's above the 50 midpoint. Chart Patterns: The price movement of Ethereum within this timeframe shows a trading range forming, with the potential setup of a rectangle pattern between S1 and R1. This indicates that Ethereum is consolidating within these levels and could be preparing for a significant move once it breaks out of this range. Conclusion: The ETH/USDT pair shows signs of consolidation with a potential for breakout or breakdown depending on broader market sentiments and upcoming Ethereum network developments. The immediate focus should be on maintaining support at $2,837.73. A break below this level could signal a deeper retracement towards $2,112.62. Conversely, moving past $4,134.34 in a convincing fashion could initiate a new bullish phase aiming for higher resistances. For traders, maintaining a close watch on these levels and adjusting stop-losses and take-profits accordingly would be prudent. Being vigilant about any news related to Ethereum that might impact market sentiment is also recommended, as crypto markets are particularly sensitive to news flows and regulatory developments.
Long
by MarsSignals
1
INJUSDT.1DLooking at the INJ/USDT daily chart, there are several important features and indicators to consider for a comprehensive technical analysis: Current Market Position: The INJ/USDT pair is trading at $24.74, down approximately 4% for the day. The price action over the past few months shows a series of peaks and troughs, suggesting significant volatility. Support and Resistance Levels: S1 (Support 1): The first support level at $22.17 is crucial. This level was previously resistance in early 2024 and has flipped to support. The price has tested this level several times, and it seems to be holding up as a strong base. S2 (Support 2): The second support level at $14.09 is much lower and was last tested in November 2023. This is a significant drop from the current price and would indicate a severe downturn if reached again. R1 (Resistance 1): The nearest resistance at $30.84 is a recent high. Overcoming this level could signify a shift in market sentiment and potential for higher highs. Technical Indicators: MACD (Moving Average Convergence Divergence): The MACD line is below the signal line, indicating bearish momentum. The histogram also reflects this as it is below zero, suggesting the bearish trend might continue unless there's a crossover above the signal line. RSI (Relative Strength Index): The RSI is at 57.98, indicating neither overbought nor oversold conditions. It suggests that there is room for the price to move in either direction without immediate pressure from RSI extremes. Analysis of Price Action: The chart shows a failed attempt to break higher past the $30.84 resistance in mid-July 2024, followed by a decline. The price is currently testing the $22.17 support. The key will be whether this level holds in the coming days or if the price will drop to retest the much lower $14.09 support. Conclusion: As an analyst, I am closely monitoring the $22.17 support. A decisive close below this could lead to further declines, potentially towards $14.09. Conversely, a rebound from this level could see attempts to test and possibly break through the $30.84 resistance. The current market conditions, reflected by the bearish MACD but a relatively neutral RSI, suggest a cautious approach. Traders should consider setting stop-loss orders near the support levels to manage risks effectively. The next few trading sessions will be critical in determining the short to medium-term direction for INJ/USDT.
Long
by MarsSignals
NEARUSDT.1DNEAR/USDT has shown a volatile price movement since the start of 2024, with a significant rise followed by a series of corrections. As of the latest data, NEAR is trading around $5.709. The chart displays a descending triangle pattern, characterized by a flat support line at approximately $4.253 (S2) and a downward sloping resistance line. Technical Analysis: Support Levels (S1 and S2): S1: The first support level at $5.150 has been tested multiple times since early July 2024 and has shown resilience. This is a crucial area as a consistent breakdown below this level could push prices towards the second support. S2: The second support level at $4.253 represents a more significant low from late May and early June 2024. A break below this could signal a strong bearish trend. Resistance Levels (R1 and R2): R1: The first resistance level at $5.961 marks the recent peaks. Overcoming this resistance might lead to testing the upper resistance. R2: The second resistance at around $6.500 corresponds to the descending trendline. A break above this level would be crucial and could indicate a potential reversal or pause in the prevailing downtrend. Moving Average Convergence Divergence (MACD): The MACD line is just above the signal line, indicating a weak bullish momentum. However, the histogram is very close to the zero line, suggesting a lack of strong momentum in either direction. Relative Strength Index (RSI): The RSI stands at 57.18, indicating neither overbought nor oversold conditions. This level suggests a balance between buying and selling pressures but leans slightly more towards buying momentum. Conclusion: Currently, NEAR/USDT is in a critical phase. The presence within a descending triangle pattern usually indicates potential downward pressure. For traders, key strategies would involve watching for a decisive break either above the R1 or below S2 for clearer directional bets. Holding positions may be risky without tight stop losses, especially near these critical levels. In the event of breaking above R1, consider re-evaluating the resistance at R2, as a breakthrough there could shift the market sentiment more positively. Always ensure risk management practices are in place, given the inherent volatility in cryptocurrency markets.
by MarsSignals
BALUSDT.1DFirstly, observing the overall trend on this chart, we can see that BAL/USDT has experienced significant volatility over the past year. The peak near the start of April 2023 around $8.00 marked a high point, from which the price has subsequently declined, now trading around $2.574. Notably, the price has recently broken below the support level (S1) at around $2.7, indicating potential further downside. From a technical standpoint: Moving Average Convergence Divergence (MACD): The MACD line is below the signal line and descending, which is generally considered bearish. The histogram bars are also increasing on the downside, confirming strengthening bearish momentum. Relative Strength Index (RSI): The RSI is just below the mid-line at 48.87, suggesting a slightly bearish momentum without being in the oversold territory. This indicates that there might be more room for the price to drop without reaching oversold conditions. Support Levels: The recent breach below the S1 support level suggests that BAL/USDT might aim for lower supports. The next critical support could be around the $2.165 level, marked by the recent low in July 2024. Breaking this could lead to further declines. Resistance Levels: If the asset manages to rebound, immediate resistance is found at the descending trendline from the April highs, which currently intersects around $4.477. A break above this level could challenge higher resistances, but that would require a significant change in market sentiment. Conclusion: Given the current chart patterns and indicators, BAL/USDT appears to be in a bearish trend with potential for further declines. The break below the immediate support level could see prices testing lower supports in the near term. Traders might consider watching for any signs of a reversal if the asset approaches oversold conditions on the RSI or a bullish crossover on the MACD, but as of now, caution is advised given the prevailing downtrend. Any trading strategy should include stop-loss orders to manage risk effectively, particularly in such a volatile environment.
Long
by MarsSignals
LDOUSDT UPDATE : READY to LAUNCHHello Folks !! Welcome to the quick update of LDOUSDT. As of now, we can see it is trading around 1.57 and currently at the immediate resistance. If it breaks this resistance, we can easily see a target of 25-20% in the short run and it can reach a price of $1.87. We can take a trade with the below details: Entry: 1.54 to 1.57 Target: 1.79 to 1.91 STOPLOSS: 1.47 Until then, stay tuned and trade with caution, ensuring strict STOPLOSSES!! This is not financial advice, please do your research before investing, as we are not responsible for any of your losses or profits. Please like, share, and comment on this idea if you liked it.
Long
by ScramblerG
A Case Study #3: USDT to 2.5% Morning my friends, This will be the final Case Study, and this time I bring a chart that I keep on adding things to. You should go back a few months on my posts and look for this exact chart before a lot happened: Check it out above! I added a picture above and I wonder if it'll look good and pop out here. Anyway my friends, It looks like we could be working on either a bear pennant or a bear flag and the drop would be below the 3%, initiating alt season, bringing ETH above $10k, and BTC near the 100k. Lets see! Trade thirsty! P.S. Obviously, to LONG USDT here doesn't make sense. I put long meaning LONG coins and not USDT cause I believe it will drop! But you already knew that right?!
CRYPTOCAP:USDT.DLong
by mr_willmedina
Bitcoin can rebound up from support line of channel to 70500Hello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price reached the support area, which coincided with the current support level, and then turned around and dropped to the 56700 support level. Later, BTC broke this level and even fell lower than the buyer zone, but soon turned around and started to grow inside the upward channel, where it reached the 56700 level and broke it again. Next, the price continued to grow to the resistance line of the upward channel and then the price exited from this channel. But BTC continued to move up inside another one upward channel, where it soon reached 63200 current support level and broke it too. After this movement, the price rose until the channel's resistance line, but not long ago it turned around and made a correction movement to the support line. At the moment, BTC continues to grow near this line and I think that the price can rebound from the support line to the resistance line of the upward channel. For this case, I set my TP at 70500 points, which coincided with the resistance line. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
8
BITCOIN - Price can make correction and then continue to move upHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Recently price entered to wedge, where it at once bounced from resistance line to support line. Soon, BTC turned around and in a short time rose higher than $57000 level, breaking it and then making retest of this level. Next, price continued to move up and later reached $65600 level, which coincided with support area. Bitcoin first made a small correction movement, and then broke this level and rose to resistance line of wedge. After this movement, price made a correction to support line, but not a long time ago backed up. Now, I think price can make correction to support area and then continue to grow to $69900 resistance line of wedge. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
6
HelenP. I Bitcoin can start to rise and break trend lineHi folks today I'm prepared for you Bitcoin analytics. Some time ago, the price rose to support 1, which coincided with the support zone, and then rebounded and fell to support 2. Soon, BTC broke this level too and fell even lower than the support zone, but later price backed up and some time traded near support 2. Next, BTC declined to the trend line, after which it turned around and started to grow. In a short time, the price rose higher than support 2, but then made a correction to this level, after which continued to grow. Then Bitcoin reached support 1, and broke it, after which started to trades inside consolidation, where it firstly made a correction to the support level and then rebounded up to the top part of the range. After this, the price some time traded near the top part and a not long time ago dropped to a support level, breaking the trend line. Just now, BTC continues to trades near the support level, so, I expect that BTCUSDT will fall to the support zone and then rebound up, higher than the trend line, breaking it and continuing to move up. For this case, I set my goal at 67000 points. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
3
#Usdt Dom 1D chart - What's next step for #Bitcoin?#Usdt Dom 1D chart; Of course, it was no coincidence that the first scenario from the critical zone I mentioned earlier was realized Because the continued uncertainties and bearish signals on the #Bitcoin side also helped determine the direction of this chart. With the trend compression, we may see an upward movement. A rise up to around 6% would not be a surprise. Likewise, we can say that it also supports that the bearish levels we have determined on the Bitcoin side may be possible.
CRYPTOCAP:USDT.DLong
by ugurtash
PENDLEUSDT.1DAnalyzing the PENDLE/USDT chart reveals several technical aspects that offer insights into the current and potential future market movements for Pendle trading against USDT. Here's a detailed breakdown of the chart: Current Price Action: PENDLE is currently priced at $3.924 after a significant downward movement indicated by the day's high and low. The broader view shows a volatile market with fluctuating highs and lows, creating opportunities for both short and long positions. Key Levels on the Chart: Support Levels: S1 at $3.221: This level acts as the nearest support, where buyers historically stepped in to push the price upward. It is crucial to watch this level as a breach below could lead to testing lower supports. Resistance Levels: R1 at $5.431: This level is marked as the first significant resistance where the price has previously faced selling pressure. R2 at $6.994: Representing a more robust resistance level, approaching this would indicate a strong bullish momentum. Technical Indicators: MACD (Moving Average Convergence Divergence): The MACD line is below the signal line, suggesting bearish momentum. The increasing distance and the negative histogram values reinforce this bearish outlook. RSI (Relative Strength Index): The RSI value at 46.66 suggests a neutral to slightly bearish market sentiment. It’s not yet in the oversold region, which would indicate a potential turnaround. Technical Analysis and Trading Strategy: Given the current chart patterns and indicators, the trading strategy would focus on cautious engagement: Buying Strategy: Consider entering long positions if the price stabilizes or bounces strongly off the S1 support at $3.221, with an upward target of R1 at $5.431. Setting a stop-loss slightly below S1 can help mitigate potential losses if the downtrend continues. Selling Strategy: If PENDLE fails to hold the S1 support, or if it approaches R1 without sufficient volume and momentum, consider taking short positions or exiting longs. This strategy would capitalize on resistance rejections or breakdowns below support levels. Risk Management: Due to the volatility seen in the price action, maintaining strict risk management protocols, including stop-losses and position sizing appropriate to the volatility level, is crucial. Conclusion: The market conditions for PENDLE/USDT suggest a bearish short-term outlook but with potential for rebounds at key support levels. Traders should remain vigilant for any signs of a reversal at support levels or a continuation of the bearish trend. Close monitoring of volume changes and further developments in MACD and RSI readings will be essential to adjusting trading strategies accordingly.
by MarsSignals
SEIUSDT.1DLet's delve into a professional technical analysis of the SEI/USDT (Sei Network against US Dollar Tether) chart based on the image you've provided: Current Price Action: SEI is trading at $0.3715, showing a pattern of declining peaks, which suggests a bearish trendline since the highs earlier this year. The current setup provides a critical juncture where the price is testing key resistance and support levels. Key Levels on the Chart: Support Levels: S1 at $0.3343: This level is currently acting as a short-term support, which if broken could lead to a test of lower support. S2 at $0.2092: Represents a more significant, longer-term support level that aligns with previous lows. Resistance Levels: R1 at $0.5140: This is the immediate resistance level, which has previously acted as both support and resistance, indicating its importance. Technical Indicators: MACD (Moving Average Convergence Divergence): The MACD line is below the signal line but close, suggesting weak bearish momentum. The histogram is near zero, indicating a lack of strong momentum in either direction. RSI (Relative Strength Index): The RSI is at 53.4, indicating a neutral market condition. This shows there's neither excessive buying nor selling pressure currently dominating. Technical Analysis and Trading Strategy: The SEI/USDT pair is at a crucial point where it’s challenging the resistance near the descending trendline. A breakout above this line and R1 at $0.5140 could signal a reversal of the bearish trend and a potential bullish phase. Conversely, a rejection at this level could see the price retracting back towards support at $0.3343 and potentially lower if the bearish momentum increases. Buying Strategy: Look to initiate long positions if there is a confirmed breakout above the descending trendline and R1, with a target of higher resistance levels. A stop-loss order should be placed just below the trendline to protect against potential pullbacks. Selling Strategy: If SEI fails to breach the resistance and shows signs of weakness (such as bearish candlestick formations or a downturn in RSI/MACD), consider short positions or exiting long positions, targeting S1 at $0.3343. Risk Management: Given the current market conditions, maintaining a conservative approach with tight stop-losses would be prudent to manage the inherent risks. Adjust position sizes accordingly to manage potential volatility. Conclusion: This analysis highlights the importance of the upcoming price movements and their implications for future market directions. Traders should remain vigilant and responsive to changes in market dynamics, particularly any shifts indicated by volume, MACD, or RSI, which could signal increased buying or selling pressures.
by MarsSignals
PEPEUSDT.1DThis technical analysis of the PEPE/USDT (PepeCoin against US Dollar Tether) chart provides a comprehensive view of the market dynamics at play. Here’s an in-depth review of the current chart pattern and the critical levels: Current Price Action: PEPE is trading at 0.00001259 USDT. The chart reveals a sequence of bullish and bearish phases, now seemingly poised at a crucial juncture. Key Levels on the Chart: Support Levels: S1: 0.00000780, a significant pivot point in recent trading sessions. S2: 0.00000595, which has acted as both resistance and support in earlier price movements. S3: 0.00000379, indicating a lower boundary from past pricing zones. S4: Not shown but would imply a further significant drop. Resistance Levels: R1: 0.00001377, a previous support level that could now serve as a resistance. R2: 0.00001724, the highest recent price and a psychological barrier. Technical Indicators: MACD (Moving Average Convergence Divergence): The MACD is hovering around the signal line, indicating a lack of strong momentum. The slight convergence above the signal line may suggest a budding bullish momentum, but it remains weak. RSI (Relative Strength Index): The RSI is at 59.04, which is near the neutral zone but trending upwards, suggesting increasing buying interest without yet reaching overbought conditions. Technical Analysis and Trading Strategy: The chart presents a scenario where PEPE has bounced off the low support levels and is attempting to break through higher resistance. The current formation suggests a potential bullish reversal if the market sentiment continues to improve. Buying Strategy: Consider taking long positions if PEPE maintains its level above S1 at 0.00000780, with a conservative target at R1 (0.00001377). A tight stop-loss just below S1 could help manage risk. Selling Strategy: If PEPE reaches the resistance at R1, traders should watch for signs of reversal (e.g., bearish candlestick patterns, RSI divergence). Taking profits near R1 or holding out for R2 (0.00001724) with a trailing stop-loss can maximize gains while protecting from sudden declines. Risk Management: Given the volatility and the lower price per coin, position sizing should be adjusted accordingly to manage exposure and avoid significant losses. Conclusion: The PEPE/USDT pair shows potential for short to medium-term gains if it can sustain above established support levels and break through the impending resistance levels. The key will be to watch how the indicators align over the next trading sessions, particularly the MACD for momentum shifts and the RSI for buyer exhaustion signs at higher levels. This approach combines technical signals with strategic entry and exit points to optimize the trading outcome while mitigating risk.
Long
by MarsSignals
RUNEUSDT.1DBased on the provided chart of RUNE/USDT (Thorchain against US Dollar Tether), here is an in-depth technical analysis: Current Price Action: As observed, RUNE is currently trading at $4.718, following a recent upswing from lower levels. The price movement since May shows a bearish trend, culminating in a sharp decline, followed by a recovery phase that is currently underway. Key Levels on the Chart: Support (S1) at $3.818: This level acts as the primary support, where we observed some buying interest that propelled the price upwards. Resistance 1 (R1) at $5.676: This level previously acted as support during the downtrend and may now serve as resistance. Resistance 2 (R2) at $6.639: This is a higher resistance level, marking the peak before the recent significant decline. Technical Indicators: MACD (Moving Average Convergence Divergence): The MACD line (blue) is above the signal line (orange) , indicating bullish momentum. This suggests that there might be potential for the price to move upwards towards the resistance levels. RSI (Relative Strength Index): The RSI stands at 61.02, which is in the upper range of neutral. This positioning indicates increasing buying momentum, yet still shy of the overbought territory, which would signal potential pullbacks. Analysis and Strategy: The price structure and the recovery hint at bullish undertones in the short to medium term. Traders should monitor for a solid breakout above the immediate resistance at $5.676, which could open the path towards $6.639. The strategy here would involve setting buy orders on dips near the support level at $3.818, accompanied by stop-loss orders just below this support to minimize potential losses. The approach to the higher resistance levels should be cautious. Should RUNE approach $5.676 and show signs of stalling or reversing (e.g., bearish candlestick patterns or divergences on the RSI/MACD), it might be prudent to take profits or tighten stop-losses to protect against a downward correction. Conclusion: This chart presents a favorable setup for bullish trades, especially if the price maintains its momentum and clears the $5.676 resistance. However, the volatility of RUNE necessitates rigorous risk management, given its sharp price movements historically. Keeping abreast of broader market sentiment and news specific to Thorchain could provide additional clues to future price directions.
Long
by MarsSignals
ETHUSDT.1DThe Ethereum chart highlights a robust uptrend that started early this year, peaking in February before entering a consolidation phase. This pattern indicates strong buying interest followed by a phase where traders and investors are assessing their positions. Key Technical Observations: Resistance Levels (R1 and R2): The first resistance (R1) is at $3,430.29, which previously acted as both support and resistance, indicating a pivotal price point. The second resistance (R2) at $4,134.34 represents the peak of the recent price rally and is crucial for confirming a continuation of the bullish trend. Support Levels (S1 and S2): The primary support (S1) at $2,837.73 is critical as it lines up with historical price reactions and the Fibonacci retracement level of 0.5, a common reversal zone. The secondary support (S2) at $2,112.62 is near the 0.618 Fibonacci retracement, often considered the last line of defense in a bullish market. Fibonacci Retracement: The Fibonacci levels are drawn from the low of $1,521 to the high of $4,093.92, and they help identify potential reversal points. The 0.5 and 0.618 levels are particularly significant due to their common usage as decision points in price action trading. MACD (Moving Average Convergence Divergence): The MACD line is currently below the signal line, and the histogram is in the negative territory, which suggests bearish momentum in the short term. This requires close monitoring as a potential crossover above the signal line could indicate a shift back to bullish momentum. RSI (Relative Strength Index): The RSI at 53.85 is near the midpoint of 50, which generally indicates a balance between buying and selling pressure. However, the slight tilt towards the oversold territory suggests that there might be an upcoming opportunity for buyers. Conclusion and Strategy: Given the current market conditions and the technical setup, my approach would be cautiously optimistic. I would consider entering long positions near the S1 level with a clear stop-loss order just below this level to protect against unexpected downturns. Any approach towards R1 should be viewed with readiness to take profits, especially if accompanied by signs of fading bullish momentum, such as declining volume or bearish divergences on the RSI or MACD. Trading around these key technical levels with a well-defined risk management strategy could potentially capitalize on the volatility and provide significant returns. However, it’s crucial to remain vigilant and adapt to any new market developments that could affect Ethereum's price trajectory.
by MarsSignals
Main Volatility Period: Around July 28thHello, traders. If you "Follow", you can always get new information quickly. Please click "Boost". Have a nice day today. ------------------------------------- I'm back from vacation a little early and leaving some ideas. --------------------------------------- (USDT chart) USDT seems to be maintaining an uptrend. It seems to have created a long tail this time. We need to check if it can continue the gap uptrend. - (USDC chart) We need to check if it can be maintained above 32.435B, which is considered an important point for USDC, or if it can continue the gap uptrend. I think the gap uptrend of USDT or USDC is a trace of funds flowing into the coin market. ------------------------------------------------ (BTC.D 1M chart) We need to check if it can meet resistance in the 55.01-62.47 range and fall. If BTC dominance rises above 62.47, the coin market is expected to show a large downtrend. If it is maintained below 55.01 or shows a downward trend, I think it is highly likely that the altcoin bull market will begin. - (USDT.D 1M chart) However, USDT dominance must be maintained below 4.97 or show a downward trend. Therefore, - BTC.D: below 55.01, - USDT.D: below 4.97 If the above conditions are met, the coin market is highly likely to show an upward trend. ---------------------------------------------------- (BTCUSD 12M chart) The BTCUSD chart is an INDEX chart provided by TradingView. Based on this chart, we can see that it has been in an upward trend for 3 years and in a downward trend for 1 year. Therefore, if it follows these rules, it is expected to continue its upward trend until 2025. Therefore, if it continues to rise until 2025, it is expected to rise to around 1.618 (89126.41). If it rises to its maximum, it is expected to touch around 2 (106275.10). ------------------------------------------------------ (BTCUSDT 1M chart) According to the explanation of the BTCUSD chart above, there is a section that must be guarded in order to continue the upward trend. That section is the 2nd section (56K-61K). If not, if it falls below 56K and shows resistance, it should check whether it is supported in the very important section of 42283.58-43.160.0. - If you look closely at the 2nd section, you can see that it corresponds to the previous high section. Therefore, if it receives support near the second section, I think it is highly likely that the buying force will increase and show an upward trend. - Since the StochRSI indicator has fallen below the midpoint, we can see that the downward strength has increased. Therefore, we can see that support near the second section is important. ---------------------------------------------------------------------- (BTCUSDT 1W chart) The 65920.71 point is the HA-High indicator point on the 1W chart. Therefore, a full-scale uptrend on the 1W chart can only begin if the price is maintained above the HA-High indicator on the 1W chart. If not, it will act as resistance. - The important rising channel corresponds to the channel where the rising wave started. Therefore, if it falls below this important rising channel, it is highly likely to form a new trend, so we need to check if it can rise along this rising channel. Therefore, if it falls below 56K, it should be interpreted as highly likely to create a downward wave. -------------------------------------------------------- (BTCUSDT 1D chart) Looking at the 1W chart, there is a period of volatility around the end of July. Therefore, based on this, looking at the 1D chart, it corresponds to the main volatility period around July 28. However, it is expected that volatility will begin around July 15 and full-blown volatility will appear around July 28. Depending on the direction it moves during this volatility period, I think it is highly likely that a trend will be created around August 12. - What we need to check as we pass this period of volatility is what it looks like in the important support and resistance areas. Important support and resistance areas are: 1. HA-High indicator point (65920.71) on the 1W chart ~ HA-High indicator point (67614.25) on the 1D chart 2. HA-High indicator point (61099.25) on the 56K ~ 1M chart 3. 42K ~ 43K You should check what kind of movement is shown around 1 ~ 3 above. - Currently, the StochRSI indicator is showing a downward trend after touching the highest point of the overbought zone. However, it is still in the overbought zone and StochRSI > StochRSI EMA, so you can see that the upward strength is still strong. Therefore, rather than judging that it will fall soon and proceeding with a trade in advance, I think it is better to take some time to check the situation. The 61099.25 point is where the HA-High indicator of the 1M chart is about to be created, so if it receives support near this point, it is likely to show a stepwise upward trend. Therefore, you should consider your average purchase price, but if the average purchase price is formed below 61099.25, it is recommended to watch the situation a little longer. - Since it has just come out of the short-term downtrend channel, it is highly likely that a support zone will be formed. Accordingly, there is a possibility that a pull back pattern will be shown. Therefore, if a pull back pattern is formed, it is expected to be around 59053.55-61099.25. This is because it will prevent it from re-entering the short-term downtrend channel. - The fact that the HA-Low indicator was created means that a low zone has been formed, and the fact that the HA-High indicator was created means that a high zone has been formed. Therefore, in order to form a trend, it must fall below the HA-Low indicator or rise above the HA-High indicator. If not, it will form a box section, i.e. a sideways section. ------------------------------------------------------ To summarize the above, 1. The start of a full-scale uptrend requires the price to be maintained above 67614.25, which corresponds to the last buying period and a stepwise uptrend is likely to begin. 2. If it fails to rise above the HA-High indicator, it is likely to fall near the HA-Low indicator, and if it falls below the HA-Low indicator (57754.37), a stepwise downtrend is likely to begin. 3. The main volatility period is around July 28, but volatility is likely to occur around July 15. Depending on the direction of movement during this volatility period, it is likely to form a trend around August 12. - Have a good time. Thank you. -------------------------------------------------- - ​​Big picture It is expected that the real uptrend will start after rising above 29K. The section expected to be touched in the next bull market is 81K-95K. #BTCUSD 12M 1st: 44234.54 2nd: 61383.23 3rd: 89126.41 101875.70-106275.10 (when overshooting) 4th: 13401.28 151166.97-157451.83 (when overshooting) 5th: 178910.15 These are points where resistance is likely to occur in the future. We need to check if these points can be broken upward. Since I think it can create a new trend in the overshooting section, I need to check the movement when this section is touched. #BTCUSD 1M If the major uptrend continues until 2025, it is expected to create a pull back pattern and start after rising to around 57014.33. 1st: 43833.05 2nd: 32992.55 -----------------
by readCrypto
2
THIS IS NOT LOOKING GOOD!Watch out, guys! The USDT dominance is bouncing back as expected. This rebound is not looking good for the market. We can already see the impact on BTC and other altcoins. The 200 EMA in yellow is an initial resistance to the dominance, and it must hold to prevent a further rally. The RSI indicates a bullish divergence, which is yet another confirmation of a higher rally. Staying away from leverage trading will be a better option for now. Trade safely. Regards, Team Dexter.
CRYPTOCAP:USDT.D
by Dexter_The_Trader
3
BITCOIN - Price can start to decline inside rising channelHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Some time ago price entered to falling channel, where it bounced up from support line and rose to resistance line. Then price bounced from this line and fell lower than $56700 level, breaking it and exiting from falling channel. After this movement, BTC turned around and started to grow inside rising channel, where soon it broke $56700 level again. Later price made retest and continued to grow to next level, which coincided with one more support area. When BTC reached this level, it broke it and rose to resistance line of channel, where continues to trades near. Now, I think price can start to decline from resistance line to $63800 support level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
7
AVAXUSDT.1DAs I analyze the daily chart of AVAX/USDT, several key patterns and levels stand out to me. Resistance and Support Levels Resistance Levels: R1: The first significant resistance level is around $31.48. This level aligns with previous highs and acts as a potential target if the bullish momentum continues. R2: The next major resistance is around $45.18, which marks the highest point observed on this chart. This level will likely serve as a strong barrier to further upward movement. Support Levels: S1: The initial support level is at $18.85, where the price has shown a tendency to bounce back after recent declines. S2: A more robust support level is at $8.61. If the price falls below this, it might indicate a more prolonged bearish phase. Technical Indicators Relative Strength Index (RSI): The RSI is currently at 48.43, which is relatively neutral. This indicates that the market is neither overbought nor oversold at the moment. A move above 70 would suggest overbought conditions, while a drop below 30 would indicate oversold conditions. Moving Average Convergence Divergence (MACD): The MACD line is slightly above the signal line, with values of 0.61 and -0.48, respectively. This suggests a potential bullish crossover, which could lead to upward price momentum if confirmed by further movement. Trend and Pattern Analysis I have observed a harmonic pattern forming, which suggests a potential reversal zone around the current price levels. The completion of this pattern indicates that the price might head towards the resistance levels mentioned above. The price has recently broken above a downward trendline, which adds to the bullish sentiment. If this breakout holds, it could pave the way for a move towards R1 and possibly R2. Market Sentiment and Predictions Given the current setup, my expectation is for AVAX/USDT to test the resistance at $31.48 in the short term. A successful break above this level could see the price aiming for the $45.18 resistance. Conversely, if the price fails to maintain its current levels, it might retest the support at $18.85. A break below this could drive the price down towards $8.61. Conclusion In conclusion, while the overall sentiment appears cautiously bullish, it is crucial to monitor the key support and resistance levels. The RSI and MACD indicators support a potential upward move, but confirmation from price action is essential. I will keep a close watch on these levels and adjust my strategy accordingly.
Long
by MarsSignals