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ETH Ethereum Head and Shoulders Bearish Chart PatternIf you haven`t sold Ethereum here: Then you should know that Ethereum, currently trading at $1841, has formed a head and shoulders pattern, indicating a potential bearish trend. This pattern consists of three peaks, with the middle peak forming the head and the other two forming the shoulders. The neckline, a key support level, must be closely watched as a break below it may trigger a further price decline. While the target for the head and shoulders pattern suggests a larger drop, attention should also be given to the 200-day moving average support at $1620. This level has historically served as a significant support zone. Traders and investors should monitor Ethereum's price movement closely to gauge whether it reaches this support level. In summary, the emergence of a head and shoulders pattern in Ethereum signals a bearish sentiment. Traders and investors should exercise caution, closely track the neckline support, and keep an eye on the 200-day moving average as a potential support level. Looking forward to read your opinion about it.
Short
by TopgOptions
XRP and the US Debt CeilingNegotiators from Democratic and Republican parties finalized an agreement on Sunday night. Instead of raising the limit to a specific level, they have opted to suspend it entirely until 2025. This strategic move ensures that their bills can be paid until that date, while also guaranteeing that the next battle to raise the ceiling will not coincide with the upcoming presidential election. The resolution of the debt ceiling issue brings optimism and stability to the financial landscape, which has a positive ripple effect on the cryptocurrency market. Bitcoin and the broader crypto market stand to benefit from increased investor confidence, reinforced safe-haven status, enhanced institutional adoption, regulatory clarity, and the overall positive impact on global markets. XRP/USDT Entry Range: $0.49 - 0.51 Take Profit 1: $0.53 Take Profit 2: $0.55 Take Profit 3: $0.59 Stop Loss: $0.46
Long
by BuySellMarketMaker
GOLD 23/05: Will buyers counterattack?TVC:GOLD Gold price (XAU/USD) failed to defend the immediate support at 1975$ during the Asian session. The precious metal fell sharply as Federal Reserve (Fed) policymakers were confident the central bank would raise interest rates more in its fight against persistent US inflation. Gold prices are expected to plummet after breaking below the demand zone placed in the 1,955$-1,975$ range on a four-hour scale. The 20-period exponential moving average (EMA) at 1,970$ is acting as an obstacle for Gold bulls. The Relative Strength Index (RSI) (14) has slipped back into the 20.00-40.00 bearish range, which signals that bearish momentum has been activated again. BUY TVC:GOLD zone 1950-1953 Stoploss: 1945 Take Profit 1: 1958 Take Profit 2: 1963 Take Profit 3: 1970 Note : TP, SL full to be safe and win the market !
TVC:GOLDLong
by DNA_TradingFX
10
GOLD: 19/05. Sellers still prevail?TVC:GOLD Gold prices extended the downside break of the two-month ascending trendline and the 50 DMA as it created support at 1955 including the late-January high. Adding strength to the seller's dominance are the bearish signals from the Moving Average Convergence and Divergence (MACD) indicator. However, the Relative Strength Index (RSI) line, set at 14, is still well below the 50 level and shows that Gold prices are bottoming out. Therefore, the 100 DMA and the upward sloping support line extending from November 2022, near $1,930 and $1,925 respectively, could limit the further downtrend of XAU/USD. In the event that the Gold price still falls through the $1,925 level, the possibility of seeing a drop to the $1,910 round-up cannot be ruled out. Conversely, the previous 50-DMA support line, near 1986$ and 1990$ in that order, will stand against the round figure of $2,000 to limit the short-term rally in Gold prices. If XAU/USD remains firmer beyond the psychological magnet $2,010, highs marked in late March and early April, around $2,015 could act as an additional test before ending. pushes quotes towards 5-week horizontal resistance near $2,040. BUY GOLD 1950-1953 Stoploss: 1945 Take Profit 1: 1958 Take Profit 2: 1965 Take Profit 3: 1970 SELL GOLD 1968-1972 Stoploss: 1978 Take Profit 1: 1963 Take Profit 2: 1958 Take Profit 3: 1950
TVC:GOLDShort
by DNA_TradingFX
3
GOLD.18/05: Prosperity for buyersTVC:GOLD Gold (XAU/USD) prices wound up at a three-week low, raising bids to print a slight gain around $80 in the early hours of today's Asian session. In doing so, the XAU/USD bears will get some steam after falling for the past two consecutive days due to the lack of key data/events. Even so, expectations about the US being able to ease its debt limit and join the US Federal Reserve's (Fed) negotiations are putting pressure on Gold prices. Accordingly, the yellow precious metal could drop to the 50% Fibonacci retracement level of the March-May rally, around $1,950, before testing the 100-DMA support at $1,930 and the Fibonacci ratio gold, 61.8% mark, about 1,915$ In case Gold price still falls past $1915, the possibility of witnessing a drop in XAU/USD cannot be ruled out. Additionally, the Gold price rally needs to sustain beyond the bottom of the stated triangle $2000, quickly followed by a circular resistance at $2,010. Even so, the 23.6% Fibonacci retracement level and the top of the aforementioned triangle near $2,020 and $2,055 respectively will be in the spotlight. BUY GOLD 1984 - 1983 StopLoss: 1980 Take Profit 1: 1989 Take Profit 2: 1994 Take Profit 3: 2000
TVC:GOLDLong
by DNA_TradingFX
3
EUR/USD keeps range below 1.1000, looks to buy ahead of CPIThe EUR/USD pair is struggling to extend its recovery above the 1.0980 immediate resistance at the start of the European session. The pair has felt the downside pressure as the US Dollar is seeing some renewed buying interest ahead of the important US CPI data release. The EUR/USD currency pair has dropped below the 20-day Simple Moving Average (SMA) for the first time since mid-March. While the main bias remains bullish, the Euro is currently lacking strength, raising the risk of a deeper correction. To open the door for further upside, the common currency needs to have a daily close above 1.10150 or a firm break of 1.10530. Ahead of the Asian session, EUR/USD is showing a bearish bias, but it has found support above 1.0952 and the 200-period SMA on the 4-hour chart. However, a drop below this level could increase downside pressure, exposing the next support around 1.0927. If the pair dips below 1.0905, it can cause volatility and accelerate the price decline.
Long
by DNA_TradingFX
Dogecoin DOGE Price Targets after the FOMC meeting this weekThe upcoming FED meeting on May 3rd could cause a further decline in the crypto market due to the potential rate hike and ongoing unease around banking system developments. The outlook for the crypto market after the upcoming FED meeting on May 3rd is bleak. Fears of a deep credit crunch caused by Silicon Valley Bank's collapse have not yet materialized, and the financial situation is much steadier. Additionally, inflation remains elevated, and with evidence of stubbornness in underlying inflation, it could be in the 4% to 5% range, far above the 2% inflation target. The markets are pricing in a 25bp Fed Funds rate hike to 5.25% at the May FOMC meeting, and given the steadiness in financial markets, persistence in price pressures, and continued decent activity, this could contribute to a further downturn in the crypto market. DOGE/USDT short Entry Range: $0.077 - $0.083 Take Profit 1: $0.071 Take Profit 2: $0.064 Take Profit 3: $0.055 Stop Loss: $0.0.099
Short
by BuySellMarketMaker