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Consolidating

INJSDT: Facing Resistance, Overbought, Retracement PotentialInjective Protocol (INJSDT) has recently experienced an impressive rally that saw the price surge from a significant support level around $2.50 to a crucial resistance level at $4.65. As the market now seems to be in a range, various indicators are signaling overbought conditions, raising questions about the next possible move for INJSDT. Current Market Situation At the time of writing, INJSDT's price has stalled around the $4.65 resistance level. This level has proven to be a barrier for the asset in previous instances, making it an essential price point to watch. The support level at $2.50 played a significant role in the recent bounce, and this level is worth noting as a potential target in case of a retracement. Overbought Indicators One of the critical factors in the current market situation is the overbought condition of various technical indicators. These overbought indicators suggest that the market might be due for a correction in the short term. In such a scenario, the price may either consolidate at the current level, allowing indicators to reset, or it could undergo a retracement to lower support levels. Wave Master Indicator on the 4h Timeframe The Wave Master Indicator on the 4-hour timeframe has been a reliable tool for gauging price trends and identifying potential market reversals. As of now, the indicator is beginning to curl down after the recent thrust upwards, indicating that the bullish momentum may be losing steam. Potential Scenarios Consolidation: If INJSDT's price consolidates around the current level for a few days, it could allow the overbought indicators to reset, paving the way for a renewed push towards higher resistance levels. In this scenario, the price could potentially reach the $5.35 to $7.50 range. Retracement: Should the market fail to consolidate and the overbought conditions persist, INJSDT might experience a retracement back to lower support levels. The price could drop to around $3.00 before resuming its upward trajectory. This would still set the stage for a possible move to the higher resistance levels between $5.35 and $7.50. The consolidation or retracement scenarios will depend on whether the market can stabilize and reset the overbought conditions or whether a deeper correction is necessary. As always, exercise caution and utilize proper risk management techniques in your decision-making process.
by bitdoctor
MANA: Slow but Steady ConsolidationSame chart as two days ago...still consolidating within range. As much as it is following the parallel channel(s) for a bullish scenario, should supports fail, the bearish M pattern is still on the table. Just below $0.81 and again at $0.91 will bring resistance should MANA break higher. A drop below $0.59 would invalidate the C&H. This is not financial advice. Keep an eye on the price. Apple news is always great, but they will ultimately do their own thing...because that's what Apple does. Do you own VR products or just trade? Adoption is key...consider investing in some hardware.
M
by keykomg
1
LONG Breakout ADOBE After Q1 after consolidationWhen discarding covid19 effect, only once since September 2012 has SMA200 been above SMA50. Right now there is a balancing act going on. Yet over this week the price has broken out from the previous 3 tops and had strong support in 420-430 after Q1 postings. Since then there has been a strong RSI14 development and is showing a strong yet not "overbought" tendency. I have entered long in 515.23 today, as the spike in price over the last 3 days will ensure that SMA50 will stay above SMA200.
NASDAQ:ADBELong
by PersonalFinanceDude
CHART ART Excuse Me... My Nose Is Consolidating! (Like & Share)EXCUSE ME... MY NOSE IS CONSOLIDATING! As a Grid Trader I'm constantly seeking consolidating price areas, sideways channels, and slowly trending prices where every ZIG and every ZAG is potential profit in my grids. Yep, I have a "nose" for Grid Trading and I love a consolidating market. I hope you enjoy my Chart Art. Just horsing around! OTHER CHART ART WORKS YOU MIGHT LIKE: As always, I appreciate your support. Please LIKE and share with others. Happy To Teach You Grid Trading! Dan Hollings Master Crypto Grid Trader Please Explore My Indicators, Scripts, Grids, Tutorials and Educational Ideas. @ DanHollings on Tradingview.
by DanHollings
Is RVNBTC ready to take the lead (again) ? Hi, RVNBTC is now in a consolidation and will break out probably after finishing the fifth wave inside the consolidation. after completing the Bearish Bat Pattern , as shown in my recent post, we are now in the stage of profit-taking. This comes at a perfect point, the last half of the month of june, the numbers will be given out in two weeks from now on and new announcements can bring a significant change, especially in this volatile, young market. However: I expect RVNBTC to stop around the Green Support Linie , which represents the 0.78 of the recent move to the upside. A bounce up will be likely since the Leader of the Sector BTCUSD refuses to show weakness in the past days. Entry : Wait for a test of the yellow trendline and allow the price to turn around. Wait for a retest of a valit support zone before entering the trade. Also watch for bullish chart patterns of the lower time-frames around the key-levels. Use multiple timeframes method and a Top down strategy to enter the trade. If you do not know what that is please check out George beaulieu on youtube. With patience Heish
Long
by MeruEU
2
RVN consolidating on top of old resistance. Might have more gas.RVN/BTC is currently consolidating on top of prior resistance around 1540, and if the trend continues, we should see another leg up. High risk play as RVN is basically parabolic at this point, but bullish FOMO in combination with a 14 month down trending market can be a perfect storm for these coins to continue moving higher. Use proper risk management and be smart about where you enter and exit. Also, if anyone is feeling generous and would like to support me and my TA, I accept Bitcoin donations! Any donations are greatly appreciated as I am a full-time student in college and it would really help me out! My Bitcoin address is down below in the Signature box. :) Entry: 1540-1570 (Might need to wait for a pull-back as we don't want to enter too high and skew our risk/reward.) Target 1: 1750 Target 2: 1875 Target 3: 2000 SL: 1490-1505 -This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.
Long
by Deftsuo
NEO consolidating under resistance at 2400.NEO/BTC is currently consolidating under resistance (which is at 2400.) As it sits, we are trading above the 50/100/200 day moving averages, and we have tested that 2400 resistance level several times, so it should be getting weaker and weaker after each test. 2400 was a previously strong support zone, and we see it now acting as resistance. One can either take a speculative play and enter here expecting a break of 2400, or enter on the retest of 2400 as support again. There is a chance if it breaks up above 2400 that it might not retest it as support before continuing higher, so keep that in mind. Also, if anyone wants to get a free stock from Robinhood, feel free to sign up using my referral link below. They also offer feeless cryptocurrency trading on a select few coins if you're in an approved state. I'll put an article down below for those interested in Robinhood crypto. I also accept BTC donations if you guys are feeling generous! :) Moving average guide (All daily for this post): 50 day MA in Green. 100 day MA in Yellow. 200 day MA in Red. Entry (Speculative): 2270-2300 Entry if price breaks 2400 (After break up and confirmed retest as support again): 2400-2425 Target 1: 2400 (Major resistance zone.) Target 2: 2600 (Prior support/resistance zone.) Target 3: 2900 (Prior support/resistance zone.) Target 4: 3150 (Prior resistance level.) SL (Loose): 2150 (Below the 100 day MA.) SL (Tight): 2250 (Below the 50 and 200 day MA, beware of potential wicks if you choose a tight SL.) Robinhood crypto article: support.robinhood.com -This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.
Long
by Deftsuo
POLY consolidating on top of prior resistance, might continue upPOLY/BTC is currently consolidating on a prior resistance zone around 2850-2900, and this level has been a pretty important pivot point in the past. If we can continue to hold this level as support, then POLY might look to move up to higher levels. Beware of Bitcoin though as it may be making a decisive move sooner rather than later. This is a high risk trade, so be cautious. Also, if anyone wants to get a free stock from Robinhood, feel free to sign up using my referral link below. They also offer feeless cryptocurrency trading on a select few coins if you're in an approved state. I'll put an article down below for those interested in Robinhood crypto. I also accept BTC donations if you guys are feeling generous! :) Entry: 2850-2950 (Might need to wait for a pull-back.) Target 1: 3250 Target 2: 3550 Target 3: 3900 Target 4: 4400 SL: 2800-2825 (Beware of wicks.) Robinhood crypto article: support.robinhood.com -This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.
PLong
by Deftsuo
US 30 Consolidating: Expect Shave after the HaircutFibo 0.62 retrace from Mar/Apr lows to the Sep high intersects lower support trendline at 24750. Lower is possible, but... just sayin'. See Chart: res ipse loquitur. The downdraft should stop and pivot somewhere between the two support lines in chart. Should. Might. Expect a 0.50 retrace up from the pivot before next move. Expect another flashcrash to test the lower support sometime this week. Panic is wearing off now, although the indexes declined today VIX was also lower most of day. This is a pattern we see in consolidation- volatility, still high, but settling off peak highs while equities continue to decline and much whipsaw price action is evident. A consolidative pattern should emerge going into week of the 22nd to complete the Zig-Zag correction that began in January, with breakout to upside anticipating the Nov election. In spite of rate hikes and t-bill yields, earnings should propel equities to higher levels by year-end, and the looming recession is not yet in sight over the horizon. A fifth Elliott Wave going into the new year might carry prices to still higher levels before the real break- probably later in 2019. A bear market will likely arrive next year. The P/C ratio and bear:bull bias are so high now the contrarian view suggests we are near a bottom. So many pundits calling for the Great Crash of 2018 it probably won't happen. Great Crashes always happen when no one expects it, and everyone is wildly bullish! Transportation index is already forming its bottom, it is a leading indicator for the industrials. DJT up 65 Monday, with Dow off 90. From Monday close there might be another 500 pt drop left in the bear wave. Risk:reward for selling short now is more risk than reward. Puts are so expensive you would need a massive selloff to realize significant gains, and the darn things run down so fast, even when you're right, you're wrong. I bought a few just in case anyway! This is purely an educational post for your amusement and is not intended as any kind of investing advice. That said, I am accumulating longs as covered call writes. Good luck!
DJ:DJI
by DaddySawbucks
2