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Solana: Downward Pressure!We expect the downward momentum to continue into our blue Target Zone (between $85.15 and $30.79) before the same-colored wave (ii) comes to an end. Investors could open long positions within this range, whereby stops could be placed around 1% below the lower edge. With the correction low in place, the coin should finally rally decisively and break through the resistance at $210.03. Should this level be breached earlier, our 33% likely alternative scenario will come into play. This option sees the price in an extended wave alt.(i) in blue.
BINANCE:SOLUSD
by MarketIntel
Decentraland: Home StretchMANA should have reached the high of the magenta wave (iv) on August 24. Since then, it has been working on wave (v) of the same color. This last stage should ultimately complete the green wave (2). With the corrective low in place, the price should then turn around and rise above the resistance at $0.48 with wave (1), which is also in magenta. Investors could use the entire range of the Zone to establish long positions, with stops placed about 1% below the lower edge. From a technical perspective, it would also be possible that the past low within the Zone has already ended the green wave alt.(2).
BINANCE:MANAUSDLong
by MarketIntel
#GBPCAD possible head and shoulder formationAs you can see in the chart, we might be observing a potential Head and Shoulders pattern forming on the 1H timeframe in GBPCAD. Given the bearish market structure on the 4H timeframe, this 1H bullish move could be viewed as a corrective rally within the larger downtrend. Additionally, there is a bearish divergence between the left shoulder and the head, further strengthening the bearish confluence. To enter a sell position, I recommend waiting for the price to drop below the 1H EMA (blue line) and then look for a bearish setup to confirm the trade.
Short
by mohemati
GOLD BULLISH OUTLOOK The technical indicators suggest a strong buy signal, reflecting bullish sentiment. This is supported by moving averages, which also point towards buying opportunities. Despite some fluctuations, with the day's range between $2,472.02 and $2,500.20, gold is showing resilience around the $2,496 level. The market is currently responding to economic data and broader market sentiment, which could keep gold prices buoyant in the short term. Gold is likely to maintain its upward momentum today, potentially testing higher resistance levels. However, watch for any sudden changes due to economic news or shifts in market sentiment.
OANDA:XAUUSDLong
by BELLATRIXFX
2
VeChain: Still Some RoomVET experienced a setback last week within our blue Target Zone (between $0.0292 and $0.0179). This development aligns with our primary expectation, as we still grant the blue wave (ii) scope down to the lower edge of the zone. As soon as the low has been established, the price should turn around and be carried above the resistance at $0.055 by the same-colored wave (iii). However, the minimum technical requirement for the low has already been met. Should the coin break through the $0.033 level directly (35% likely), we will already see it in the blue wave alt. (iii).
BINANCE:VETUSDLong
by MarketIntel
1
Snowflake: Please turn!Snowflake has experienced a setback in recent days. However, as it was able to hold above the support line at $107.41, our primary scenario remains intact. Thus, we continue to see the price in the turquoise-colored wave b, which should initially bring a (corrective) increase. Only after the high has been established should larger sell-offs come knocking, completing the wave (2) correction in green. However, we consider it 33% likely that the share has already been working on the final stage of this corrective movement since May. This scenario, which will be activated by a fall below the support level of $107.41, would call off the upward swing accordingly.
NYSE:SNOW
by MarketIntel