Altcoins
Altcoins likely to break-out#Altcoins reaching an important resistance. RSI looks good in the fifth attempt, so resistance looks weak now. Maybe a bull run is coming.
JTO swing tradeJto is at good levels , flip and retest the level 2.30 and then taking an entry and targeting the high and resistance of 2.80 , this is a swing trade so hold for couple of days
FTM Long Spot Position (Retest of Key Level)Market Context: FTM is attempting to retest the critical $0.61 level, displaying strong relative strength in the market. This is an opportunity to bid on that strength.
Trade Setup:
Entry: Long spot position at $0.61.
Take Profit:
First target: $0.68
Second target: $0.75
Stop Loss: $0.57
📊 This setup focuses on capitalizing on FTM's strength with well-defined risk management. #FTM #Crypto #Altcoins
DIONE 1H BULL FLAG?Potential bull flag setup on DIONE/USDT 1H TF.
A very exciting L1 project using 100% renewable energy. IMO it's one to watch going into 2025, being environmentally friendly fixes the ethical argument that crypto is bad for the environment, this could be a massive pro for the project going forward when the L1 choice will narrow down as the winners rise to the top during the adoption phase.
For now on the 1H TF there is a potential bull flag breakout LONG setup. After a strong rally price has been accumulating with Lower highs and Higher lows, compressing waiting to expend in either direction. TA suggests a bull flag should be a continuation to the upside. This would be backed up by the 1D chart where price is above the daily support & 1D 200EMA, the draw on liquidity should now be above so this suggests a bullish continuation.
For DIONE to breakout below it would have to lose the 1H 200EMA while it's in a steep uptrend. I think that would have to come from BTC nuking and with FOMC that's possible due to volatility of news events, however it is less likely than the bullish scenario IMO.
Phemex Analysis #22: SUI _ A Tale of Potential and Uncertainty!PHEMEX:SUIUSDT.P , the Layer 1 blockchain backed by industry giants like a16z and Samsung Next, has emerged as a promising contender in the cryptocurrency landscape. With its impressive speed and efficiency, SUI offers a compelling alternative to established platforms like Ethereum and Solana.
Price Structure
The token's journey has been marked by both highs and lows. From its initial launch price of $1.4038 in April 2023 to its all-time high of $2.1841 in March 2024, SUI has demonstrated significant growth potential. However, the cryptocurrency market's volatile nature has also seen SUI experience downturns, with its recent low reaching $0.4631 in August 2024.
As we analyze SUI's price structure, it becomes evident that certain levels act as pivotal points. The initial support level at $1.00 serves as a crucial barrier to prevent further declines. If SUI were to break below this level, it could signal a potential downward trend reversal. On the other hand, the initial resistance level at $1.43 represents a hurdle that, if breached, could indicate a bullish uptrend.
Intermediate support and resistance levels at $0.86, $0.78, $1.72, and $2.00 provide additional insights into potential price movements. These levels can act as temporary points of support or resistance, influencing the token's short-term trajectory.
Possible Scenarios:
Given SUI's strong backing and technical capabilities, it is reasonable to anticipate a potential upward trend. However, the cryptocurrency market is subject to various factors, including broader economic conditions, regulatory developments, and market sentiment. Therefore, it is essential to approach investments in SUI with caution and consider both potential gains and risks.
1. Upward Trend Continuation: If SUI consistently breaks above resistance levels, accompanied by increasing trading volume and positive technical indicators, it could signal a continuation of the upward trend. Investors might consider buying SUI near the intermediate support levels or after a pullback from the initial resistance level.
2. Downward Trend Reversal : If SUI breaks below support levels, with decreasing trading volume and negative technical indicators, it could indicate a potential downward trend reversal. Investors might consider shorting SUI near the intermediate resistance levels or after a breakout below the initial support level.
Conclusion
SUI, with its strong backing and promising technical capabilities, presents an intriguing opportunity for investors. While its future price movement is influenced by various factors, including market sentiment and overall economic conditions, the potential for significant growth remains. However, it is crucial to approach investments in SUI with a cautious and informed mindset, considering both the potential rewards and risks involved.
Tips:
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Disclaimer: This is NOT financial or investment advice. Please conduct your own research (DYOR). Phemex is not responsible, directly or indirectly, for any damage or loss incurred or claimed to be caused by or in association with the use of or reliance on any content, goods, or services mentioned in this article.
SUI/USDT 1D SUI has been one of the better performing L1's and altcoins in general in the last 6 months that BTC has been chopping/ranging.
There are a few key points on the SUI chart that catch my eye:
- 1D 200EMA is now flipped bullish with a strong reaction after flipping the level, this shows buyers are confident in the project and happier to buy at higher levels, instead of waiting for a pullback for example.
- Clear Higher high and higher low structure indicating a bullish trend on the daily. Invalidations are more obvious when a structure like this is broken.
- Plenty of room to grow going into Q4, the range is clearly mapped out with key Orderblock levels that will more than likely be resistance levels and so they are the targets to take profits, hedge or de-risk while assessing where SUI will go.
With this being SUI's first Bullrun history shows the newer projects do better off in terms of ROI that's if they survive, from what we have seen so far this cycle I believe SUI will be a strong project going forward.
16/09/24 Weekly outlookLast weeks high: $60,638.89
Last weeks low: $54,371.86
Midpoint: 57,505.38
Bitcoins price action mirrored that of the week that proceeded it, with a steady climb from the start of the week, peaking on Friday close, witha weekend sell off to end the week. Looking at the chart the Midpoint needs to hold if there is a chance of continuing the rally beyond $60,000. I could see price action being nervy until the FOMC in midweek.
Last week we saw BTC go through multiple news events such as CPI, PPI in the US but also the ECB rate cut decision. The European central bank cut the interest rate from 4.25% to 3.65%, a cut of 60bps.
This news has flown under the radar in my opinion, not many people are reporting on it could play a part in the FEDs decision on Wednesday. So far the rate cut looks to be a 25bps reduction from 5.50% to 5.25%. That leaves the US significantly higher than Europe and so in theory Europe would have the opportunity to be more risk-on than America as credit is cheaper.
I would think that the US wouldn't like this and would seek to do something about it, that something would be a bigger cut, a 50bps cut closer to the ECB would bring the US more inline. Naturally this being the beginning of the rate cut cycle it's a marathon not a sprint and although the ECB started out strong the cuts may taper off sooner than the US, that's a whole different story but for this week this is the big focus.
OTHERS / Altcoin Index ready to break to new highs?As we approach the next FOMC meeting where we most likely see the first rate cut, will Altcoins start to perform again? Since the march highs we had a big retracement.
TOTAL2 market bullish. Altcoions are back in the game
The first 30% of this bull run has been dominated by the CRYPTOCAP:BTC and ETF narrative. A massive FOMO, unprecedented, has propelled CRYPTOCAP:BTC beyond its all-time high (ATH) even before the halving. However, when retail investors began purchasing at prices above 70k, smart money decided to take profits, leading us into a downtrend for BTC.
We are now witnessing the end of the ETF-induced FOMO for Bitcoin and a return to a fundamentally stronger bull run.
Adjusted for inflation, we are actually only 30% into the bull run cycle, just after the halving and before the parabolic move of BTC. This retracement might go lower, as the expectations for the ETF were so high that the retracement could be quite substantial.
Is it time to sell all your BTC and wait with cash for the bottom? Some might do that, but there is a risk: missing the recovery. Everyone has to sleep, and this can happen in hours.
Some smarter investors have noticed that the altcoin market has basically been stagnant, with a 100% increase while BTC was soaring by 300%, and has been largely ignored because the focus was all on BTC and the unrealistic ETF expectations.
These smart investors are seizing the opportunity to buy great projects at bargain prices and are poised to make substantial profits. Money is moving from BTC to altcoins, and I believe this trend will continue, since BTC lacks a compelling narrative.
While BTC is resetting and gearing up for the final parabolic move, altcoins will become very attractive, and smart money will invest in solid projects, memes, and everything else that has been overlooked.
I predict we will have two altcoin seasons, one starting now while BTC is resetting, and another after BTC reaches its peak and begins to fall into a bear market.
Investing in solid and low-risk altcoins like CRYPTOCAP:PEPE , SEED_DONKEYDAN_MARKET_CAP:BONK , CRYPTOCAP:SOL , CRYPTOCAP:AVAX , CRYPTOCAP:INJ , NASDAQ:OP , NYSE:SUI , CRYPTOCAP:RUNE , etc., should be more rewarding than buying CRYPTOCAP:BTC in the next two months.
This is not investment advice, merely an opinion. Do your own research (DYOR), and remember that anything can happen in the highly volatile crypto market.
PEPE - Emerging from the ShadowsAfter the initial reaction at 0.00000650, I expect the price to move directly to the range high or at least reach 0.00000890. CRYPTOCAP:PEPE
Although the optimal entry point was at the wick retest, this scenario remains valid.
Keeping simple after the Monthly Reclaim...
Altcoin SeasonHello Birdies,
No matter what tiktokers and youtubers telling you there is no Altcoin season before we have done htis....
We are still in sell trend as I am seeing a lot of liquidity below the monthly lows.
Herding CatIf you find this information inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment!
Ideally it needs to stay above 0.000030662.
On the Elliott wave side it looks like a potential impulse being put in, and we are at the Wave 4 of the larger degree which could mean another move up. If the level metioned breaks it becomes less likely. MO.
0.000028937 is the final level I would want to see it fall beneath.
Trade Safe,
Trade Clarity.
SAGA - Consolidation before price acceleration.# SAGA - Total3 - ETH/BTC
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SAGA is a cryptocurrency with a market cap of $160 million and a fully diluted market cap of $1.6 billion. It functions as a Layer 1 blockchain specifically designed for gaming. I included this coin this week because I see the potential for at least a 30% gain in the coming days or weeks. This coin is related to my publication from last week as I consider SAGA a SUI with a higher Beta. This means that SAGA is a coin that moves in relative tandem to SUI (discussed in my last publication) whilst being more volatile and sensitive to market movements.
**SAGA** - The price appears to be consolidating between a downward trendline (red) and an exponential trendline (green), forming a pattern of lower highs and higher lows. This suggests that the price is coiling up for a significant move.
If the price successfully breaks past the $1.90 level, there appears to be no further resistance until it reaches the W-pattern harmonic expansion at the 1.414 or 1.618 Fibonacci level. This corresponds to the corrective 0.618 or 0.786 Fibonacci retracement of the last impulsive wave down (see picture 1). This setup indicates a potential 30-60% price gain after surpassing the red downward trendline. (The strategy for entering the SAGA trade can be found at the end of this publication.)
**ETH/BTC** - The ETH/BTC pair is often considered a key indicator of the altcoin market's strength relative to Bitcoin. By analyzing ETH/BTC alongside TOTAL3 (the total crypto market cap excluding both BTC and ETH), we can look for confluence to determine if SAGA (and other altcoins) have the potential to move more rapidly in comparison to BTC.
On a macro scale, the ETH/BTC ratio appears to be forming a large triangular consolidation pattern. The upward trendline, which is expected to provide support, is positioned just below the 0.786 Fibonacci retracement level of the entire previous wave (see picture 1).
Zooming in (see picture 2), we can observe a hammer candle formed on high volume, which established the low of the current range (a bullish signal). At present, the price is holding at this range low and has filled the wick of the previously mentioned hammer candle. As long as the price does not break down from this range, it could quickly move towards the top of the range.
This suggests a higher likelihood of bullish price action for ETH and other altcoins, especially since it is rare for this ratio to increase while the prices of BTC and other cryptocurrencies decline.
**Total3** - TOTAL3 (the crypto market cap excluding BTC and ETH) is currently moving within a downward parallel channel, which can be a bullish indicator, much like BTC. The market cap bounced off the 0.886 Fibonacci level on August 5th, during a period of maximum fear, forming a hammer candle. Since then, it has also bounced from the 0.786 Fibonacci level, potentially creating a large W-pattern.
To support the idea that the altcoin market cap (excluding ETH) is gearing up for a bullish impulsive move, we can reference the "Three Waves to a Bottom" theory. This theory suggests that a market or stock typically undergoes three distinct downward waves before reaching a bottom. After the third wave, the price tends to stabilize and may reverse into an upward trend.
The movements in the Total3 market cap tend to suggest that more money will flow into the altcoins in the short to mid term. This should also benefit SAGA’s probabilities to have an acceleration in price.
**Trade Set-up**
In my opinion, I recommend 2 trade set-ups to enter in a SAGA long from the 14th of september onwards (Enter at White Arrow):
You wait for a breakout. Conservatively price should find resistance around 1.9$ and could retrace back to retest the trendline that has been serving as resistance since mid-Juli.
You wait for a breakout. If price does continue upwards, because crypto can move parabolically, even more when we consider the market cap of SAGA (=160M$) it is still probable that price will come down and retest the trendline that has been serving as resistance for 3months, the exponential trendline (green) that has been acting as support for even longer, or both as shown in the picture.
This is a repost from yesterday, hopefully the issue for the public post was the link at the foot of my previous publishment.
Have a nice weekend !
Zeddit
DOGS Analysis==>>Inverse Head and Shoulders PatternsOne of the tokens that has been trending for the past few days is the DOGS token . Did you participate in the DOGS Telegram project or not? Do you still have your tokens or have you sold them?
The DOGS token is moving near the Support zone .
Regarding classic technical analysis , it looks like DOGS is forming an Inverse Head and Shoulders Pattern .
Also, Regular Divergence(RD+) can be seen between the two shoulders of the Inverse Head and Shoulders Pattern .
I expect DOGS to rise to at least the Resistance zone again after breaking the Resistance lines . And if this zone breaks, we can expect DOGS to increase to at least $0.00129 .
DOGS Analyze (DOGSUSDT), 1-hour time frame⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
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ICPUSDT LongICP strong buy signal, bullish setup is very strong, H4 candles confirmed they can make new higher high. Risk reward 1:2
PULSECHAIN can continue it's recovery...The chart shown is the EVM sidechain of Ethereum --- PLS / by ETH itself
So as this chart produces Green candles.
PLS is earning you more Ethereum
and Red candles mean you are losing ETH value.
For any ratio it is the same deal. i.e BTC/USD. Green equals more USD. RED = less USD.
We have a clear bottom formation yet to truly break out.
But almost there.
As we have seen with other blockchains due to liquidity bonding.
When the Native gas token goes up... the smaller altcoins on the chain start really flying
FET/USDT 15mNYSE:FET is one of the leading AI projects in the crypto space, earlier this year it saw a meteoric rise in price up to $3.5. Since then price has dropped around 80% to a local low of $0.70, now recently price has grown and broken the daily downtrend rising to a local high of $1.44 +105% from the lows creating a dilemma for traders...
From previous price action we know that NYSE:FET is capable of huge moves, it's a fundamentally sound project with a strong narrative behind it. Finding a good entry to buy FET if sidelined or add to a position if already positioned can be tricky so these are my thoughts:
- HTF FET has broken the daily downtrend is is looking to reverse. Altcoins have been at the mercy of Bitcoin so it requires BTC to behave too. After an -80% correction a lot of the downside risk has already played out.
- LTF we have seen a strong recovery, if you has bought local lows at $0.70 you would have outperformed the entire drawdown of the last 6 months (assuming equal position size). So the feeling of FOMO can start to creep in at these levels.
- The chart shows potential points of entry on the LTF, obviously we may continue to drawdown, it's always a possibility but we have seen signs of strength and therefore opportunities to go LONG.
- Local range low @ $1.273 is the option with the best return out of the 3. Clearly strong support that was the base for the last local rally.
- Current level is an interesting one because it incorporates a LTF diagonal resistance trendline that would be bullish if broken. This combined with a range support line (0.25) could be a good option for a LTF entry.
- The final option is the 0.5/ Midpoint entry. This would mean flipping the 15m 200EMA bullish and reclaiming the midpoint making it the safest of the 3 entries but least rewarding, offering +6% return instead of 9% & 13% respectively.
With all this in consideration, NYSE:FET is one of the better altcoin options in the markets current state. IMO we still don't have a clear market direction just yet and so being nimble with positions is a must, but it does feel like the worst is over and if that is the case then a position in FET could be positive for a portfolio.
ADAUSDT Buy We have buy setup on ADA H1 chart. After the impulsive uptrend we see a little correction and bullish FVG. Risk reward 1:3
Is Kamino (KMNO) Aave's Biggest Compeition??Aave is dominanting the Ethereum space
Looks like Aave is pulling away in terms of Ethereum lending protocols. It may continue this trend of dominance. Of course things could change within ethereum but if the trend continues then perhaps their competition will lay outside ethereum.
Solana massively grew its footprint
Solana may have had its issues whilst being massively stress tested. Certain points having higher dex volume than Ethereum. With users flocking to Solana and Solana handling its growth relatively well.. its very possible that we see the trend continue next wave.
Kamino is dominanting Solana lending space
If Kamino continues to dominate the solana lending space and solana goes back to overtaking ethereum dex volume.. then it stands to reason that Aave's biggest competition may lay outside Ethereum.
If Aave runs aggressively out of its long term base then the solana flock may start herding into their best version.
Becareful of the bearish stophunt on Kamino
AVAX : Potential Reversal in MACRO TFA downtrend, or bearish trend is characterized by a few things including making lower lows and lower highs. This is evidently seen when pulling up the macro timeframe and applying trendlines towards major bounce zones or wicks.
Similarly, an uptrend is characterized by the price making higher lows, and higher highs. Currently, we are only seeing ONE of these conditions met - the higher lows. This does not mean the price cannot retrace towards the trendline. However, as soon as the trendline is lost, the higher lows is invalidated and the price remains BEARISH.
A fall UNDER the trendline would likely lead to a revisit of a wick at $17.
While you're here👀 Make sure you check out yesterday's post on 3 Alt that are bearish right now:
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BINANCE:AVAXUSDT.P
TOTAL3 on the verge of a massive breakoutThe altcoin sentiment is in the gutter, FUD everywhere, everybody is calling for "recession", including the stock market. Perfect conditions to turn the ship around and blast off to new highs and leave sideliners angry.
Historically, squeezing Boilinger bands point to a big volatility move after consolidation. Let's see how this play out.
