Get started

Cryptohopper

BTCUSDT RSI EMA VWMA Signals with Profit Target for CryptohopperThis strategy combines the Relative Strength Index (RSI), Exponential Moving Average (EMA), and Volume Weighted Moving Average (VWMA) to create buy and sell signals, along with a profit target, for cryptocurrency trading. It is specifically designed for use with Cryptohopper through webhook alerts. How It Works: Buy Signal: A buy signal is triggered when the RSI crosses above the lower threshold (user-defined) and the 9-period EMA is above the 20-period VWMA. Sell Signal: A sell signal is triggered when the RSI crosses below the upper threshold (user-defined). Profit Target: Once a position is opened, the strategy sets a profit target based on the user-defined percentage. When the target is reached, the position is closed. Indicators Used: RSI (Relative Strength Index): A momentum oscillator measuring the speed and change of price movements. EMA (Exponential Moving Average - 9 period): A moving average that gives more weight to recent price data. VWMA (Volume Weighted Moving Average - 20 period): A moving average that takes volume into account, giving more weight to periods with higher trading volume. Features: Generates buy and sell signals based on RSI and moving average conditions. Allows users to set a profit target percentage for each trade. Alerts can be sent via webhooks to integrate with platforms like Cryptohopper to automate trading. Alerts are provided for buy, sell, and when the profit target is reached. How to Set Up Alerts for Webhooks: Apply this script to your TradingView chart. Set up alerts for the buy and sell conditions. Enter your Cryptohopper webhook URL in the alert configuration to automate trade execution. Disclaimer: This strategy is for educational purposes only and should not be considered financial advice. Trading cryptocurrencies involves a high level of risk, and users should do their own research or consult a financial advisor before making any investment decisions.
Long
by PPonBIN
CRYPTOHOPPER WEBHOOK PEPEUSDT 45MIN RSI WITH CONDITIONS STRATEGYRSI Strategy with EMA and VWMA Conditions Objective This trading strategy leverages the Relative Strength Index (RSI) in combination with the Exponential Moving Average (EMA) and the Volume Weighted Moving Average (VWMA) to identify potential buy and sell signals for trading cryptocurrencies on the Cryptohopper platform. How it works: Buy Signal: A buy signal is generated when the RSI crosses above the user-defined lower threshold and the EMA (9) is above the VWMA (20). Sell Signal: A sell signal is generated when the RSI crosses below the user-defined upper threshold. Indicators Used: RSI: A momentum oscillator that measures the speed and change of price movements. EMA (9 period): A moving average that places a greater weight and significance on the most recent data points. VWMA (20 period): An average that also accounts for volume, giving more weight to periods with higher volume. How to Set Up Alerts for Webhooks: To create alerts that can be sent as webhooks to Cryptohopper, follow these steps: Apply the script to your TradingView chart. Click on the 'Alerts' icon on the right-hand side toolbar. Choose the script from the dropdown in the 'Condition' field. You will see two options: "Buy Alert for Webhooks" and "Sell Alert for Webhooks". Select the desired alert condition. In the 'Options' section, set the alert action to 'Webhook URL'. Enter your Cryptohopper webhook URL into the 'Webhook URL' field. Configure the alert message according to the format required by Cryptohopper. Save the alert. How Alerts Are Generated: The script will continuously monitor the chart based on the conditions you've set. When a condition for either a buy or sell signal is met, TradingView will trigger the alert. If set up for a webhook, TradingView will send an HTTP request to the specified webhook URL with the message payload. Disclaimer: This script is for educational purposes and should not be taken as financial advice. Trading cryptocurrencies carries a high level of risk, and you should do your own research or consult a financial advisor before making any investment decisions.
Long
by PPonBIN
KAVA Surges as Investors Seek Buying OpportunitiesInvestors in the cryptocurrency market are looking for buying opportunities despite the current volatility of Bitcoin and Ethereum. As a result, many traders are turning to bullish altcoins like KAVA, which has been showing steady price growth despite market selling pressure. KAVA, a native token of the KAVA blockchain, recently completed a higher low price formation above an ascending trend line. From a monthly low of $0.667, KAVA's price has risen by more than 35% in just five days. KAVA Attempts Breakout While Bitcoin's price is falling, KAVA's price continues to rise this week. KAVA’s investors seem to be unaffected by a potential drop in Bitcoin's price. KAVA's price surged towards a bullish hurdle on May 10th, reaching a 20-day high at $0.909 with a remarkable 10.6% gain on Wednesday. Currently, the altcoin is trading against the USDT pair at $0.906. KAVA's Future Looks Promising Trading volume indicators suggest that there has been significant accumulation of KAVA coins near the support trendline. KAVA witnessed the highest trading activity in the last few months in the month of May. The KAVA coin is currently trading above the 50 simple moving average, with bulls pushing the price up. Historically, the 200-SMA has acted as a significant support and resistance level for sellers. The market is now waiting to see if the bulls can maintain their momentum and push the price of KAVA beyond the 200-SMA. The Relative Strength Index (RSI) has crossed the crucial threshold of 50 and is now steadily climbing towards the upper limit. This is an encouraging sign for potential buyers, who could benefit significantly if the coin manages to break through the current resistance trendline. However, we will still need to have Bitcoin at least ranging and not falling for a significant rally to occur.
by cryptohopper
Where Will the Pullback on STX End?Stacks (STX) has been one of the best-performing coins on the market this year. The token soared by nearly 500% from January 1st to its high of $1.31 only 18 days ago. However, like most cryptocurrencies, STX is now experiencing a pullback. In this analysis, we'll take a closer look at what's happening with STX and what investors can expect in the coming weeks. What is STX? Stacks is a Bitcoin layer for smart contracts, allowing decentralized applications to use Bitcoin as an asset and settle transactions on the Bitcoin blockchain. It unlocks $500B in BTC capital and has knowledge of the full Bitcoin state, with transactions automatically hashed and settled on the Bitcoin L1. Stacks blocks are secured by 100% Bitcoin hashpower, making it difficult for hackers to re-order transactions. STX managed to break above the $1.00 resistance level that was previously identified in our analysis. However, it was unable to hold the price above this key level, so now it's coming back down. STX’s inability to sustain its price above resistance may indicate that the price level was too high for the market at the moment to sustain. Where does the pullback end? While STX is going through a pullback, the 100 Simple Moving Average (SMA) may halt the downturn. The 100 SMA acts as mobile support, preventing the price from falling below it in most cases. If the 100 SMA breaks, the next support level is around $0.50. It's essential to remember that the current pullback is a normal occurrence in the cryptocurrency market. After massive gains, most cryptocurrencies tend to experience a correction. Typically, coins that start a bull run strongly are the ones that advance the most overall. As such, investors should keep an eye on STX for the potential for another bull run coming in 2024-2025. Bottom Line: Stacks (STX) has been a high-performing cryptocurrency this year, but like all cryptocurrencies, it's experiencing a pullback. However, this is a normal occurrence in the crypto market, and investors should keep a close eye on the support levels and moving averages.
by cryptohopper
FTM is Trapped, What Now?FTM is trapped between two levels, so what happens now? What is FMT? Fantom (FTM) is a decentralized blockchain platform designed to facilitate instant transactions at low fees, making it ideal for businesses and developers who need to process large volumes of transactions. FTM’s current situation FTM experienced an impressive rally recently, with its value increasing by 220% from January 1 to February 3. Despite this surge, FTM is still priced relatively low compared to its all-time high, which would require a further 600% increase in value to reach. However, FTM has been struggling to break above the $0.66 resistance level and is currently trapped between the $0.66 resistance and the $0.40 support. If FTM manages to break through the current resistance level, the next levels it would have to overcome are $1.00 and $1.60. On the downside, if FTM breaks below the $0.40 support, $0.165 is the next significant support level. However, given the current market conditions, it is unlikely that the price will drop that low. Instead, the 200 Simple Moving Average (SMA), which acts as a mobile support and resistance, is a more probable level of support. Bottom Line: FTM is an exciting cryptocurrency to watch as it continues to gain popularity and attract investors. Its low transaction fees and fast transaction times make it an attractive option for businesses and developers. However, as with any investment, it's essential to do your research and proceed with caution before investing in FTM or any other asset.
by cryptohopper
1
Optimism Token Reaches New All-Time HighThe cryptocurrency token Optimism has reached a new all-time high; let’s see what happens next! What is Optimism? Optimism (OP) is a cryptocurrency built on the Ethereum blockchain. It is a new type of token used to pay for transactions on the Optimism layer 2 scaling solution for Ethereum. The Optimism protocol allows for faster and cheaper transactions by moving most of the computation off-chain while still maintaining the security and decentralization of the Ethereum mainchain. Optimism Reaches All-Time High OP recently reached its all-time high, causing excitement among investors and traders. The success of OP can be attributed to the growing interest in decentralized finance (DeFi) and the increasing use of the Ethereum blockchain. As more and more projects are built on the Ethereum blockchain, the demand for efficient and cost-effective scaling solutions like Optimism will only continue to grow. Since Optimism has never reached this price before, it is impossible to say exactly where the price will go. According to the Fibonacci retracement, the next target for OP could stand around $3. According to a Fibonacci retracement, the last target of this rally stands around $3.60. We have seen rallies in the past that went above even the wildest predictions of the Fibonacci, however, these runs normally occur during a strong market bull run. If, on the other hand, OP starts falling, there are a few different support levels that the token can count on. The first support level stands around $2.00, which is the previous all-time high. Another support level stands between $0.70-$0.80, which is around the coin’s lowest point.
by cryptohopper
Curve DAO Token Prints Double RSI Bullish DivergenceThe Curve DAO token (CRV) appears to form a double RSI bullish divergence on the daily chart. The bullish divergence is a sign that the bearish momentum is fading off, clearing the way for possible reversal. RSI Bullish Divergence CRV's daily RSI is showing a strong bullish divergence against the short-term price and the long-term price action. In the short term, if we look at the technical picture, it's clear that while the price made lower lows, the RSI made a higher low which led to the formation of a bullish divergence. The technical picture becomes more interesting if we compare the current swing low of $0.40 and the mid-June low with the equivalent lows in the RSI reading; we see that there is again a strong bullish divergence. CRV's price again made a lower low, but the RSI did not. Instead, it held above the mid-June RSI reading. These two signals aligning together increase the probability of a reversal. The cryptocurrency may be in the process of putting a potential bottom in place, or at least a pause on the downtrend. Looking forward: The first resistance comes around the $0.85 level, but only a daily break and close above the $1.00 significant psychological level can mark a more considerable shift in the market sentiment.
COINBASE:CRVUSD
by cryptohopper
Is Huobi Token Megaphone Pattern Bullish or Bearish?Over the past 3.5 months, Huobi Token (HT) has been developing a megaphone pattern, also known as the broadening pattern. The pattern is neither bullish nor bearish, but it hints at a period of heightened volatility as long as HT's price remains trapped inside the megaphone support and resistance levels. HT Megaphone Pattern The megaphone pattern can be recognized by successive higher highs and lower lows. On the price chart, this pattern is visible by two diverging trendlines. Usually, the pattern marks a period of high volatility with no clear market direction. HT's price is testing the upper resistance trendline of the megaphone pattern around the $7.10 level. RSI Oscillator After the recent sharp rally, HT's price is greatly overbought. The Relative Strength Index (RSI) has reached 84, its highest reading since February 2021. Fears of the rally losing momentum are justified, as other technical factors are calling for a pause. Aside from extreme overbought levels, HT's price is also battling the key 200-day simple moving average. 200-Day Simple Moving Average While we broke above the 200-day simple moving average, it remains to be seen how this will play out within the megaphone pattern. For a fundamental shift in the market sentiment, we need multiple daily closes above the 200-day SMA. The current daily candle already shows signs of rejection at the megaphone resistance trendline, which may be another sign that, in the short term, the bullish momentum is running out of steam. Looking forward: To the downside, the first support area is the $5.00 big psychological level. A daily break and close below $5.00 will eventually open the door for a retest of the lower support trendline.
H
by cryptohopper
2
Elrond Bullish RSI Divergence Calls For at Least $10 RallyElrond (EGLD) has printed a bullish RSI divergence that supports more upside, at least until the next resistance around the $63 level is retested again. Additionally, Elrond is showing relative strength compared to the overall cryptocurrency market. These two technical factors combined offer a short-term bullish outlook for the Elrond price. Bullish RSI Divergence A strong bullish divergence between EGLD and the Relative Strength Index (RSI) oscillator was observed at the bottom of the current range near the $47 support level. The rally that emerged afterward doesn't seem to be running out of steam. Moreover, the price has developed the bullish RSI divergence in multiple time frames, indicating a potential bigger bounce. The path of least resistance is to the upside, as there are no clear resistance levels until the area between $63 and $65. EGLD Relative Strength Another divergence between the EGLD price and the Altcoin Index shows that Elrond is stronger than the overall crypto market. While EGLD's price broke above the mid-September high, printing a higher high, the Altcoin index continues to trade below its mid-September high. The divergence between EGLD and the Altcoin index may be just a short-term anomaly. Because we're still trading within a bearish cycle, this may be just a pullback, and sooner or later, EGLD could align back with the overall market direction.
by cryptohopper
1
The Case for Cardano to Drop to 50 cents Before BottomingCardano (ADA) has the potential to fall as low as $0.50. A major reason for this bearish scenario is ADA's descending channel, which the bears may try to tag again. This will be a classic break and retest price structure. Descending Channel A descending channel pattern has formed on ADA's daily chart, starting with the price falling from its all-time high of $3.09. The breakout to the upside has lost momentum, and now we have 3 bearish factors that align to call for more downside: 1. First, the bears have reclaimed the $1.00 psychological number after an initial failed rally. 2. Second, the RSI readings point lower as the oscillator is back below the 50 mid-level signaling bearish momentum. 3. Lastly, ADA's price is trading well below its 200-day simple moving average, which signals that we're in a bearish market. Looking forward: The next major support to the downside comes near the current low of the year of $0.74. A daily break and close below this level will open up the door for ADA's price to test $0.50 and, subsequently, the upper slopping trendline of the descending channel.
Short
by cryptohopper
1
YFI Starts New Bullrun!Yearn.finance (YFI) crossed above the 200-day simple moving average, which indicates the start of a new bullish trend. This is the first daily breakout and close above the 200 SMA since the September failed attempt. High Trading Volume Other technical factors add more confluence to the bullish case scenario, like the rise in the trading volume, which signals buying pressure. If we compare the volume readings from today with September’s readings, we can see a notable increase in the trading volume. This is the main reason why todays’ breakout above the 200-day simple moving average has more potential to see follow-through. RSI Positive Momentum Additionally, we have supportive bullish momentum behind the recent rally, confirmed by the RSI momentum readings above the mid-level 50. We can expect more bullish momentum moving forward if the RSI oscillator stabilizes above the 50 level. Looking forward: The first resistance level comes around $45,000. However, before that, the big round number of $40,000 can also pose a challenge for the bulls. On the downside, the 200-day simple moving average, which currently stands around $33,000, should act as support.
Long
by cryptohopper
1
Making Sense of AVAX Price through Elliott Wave AnalysisAvalanche (AVAX) has been one of the top-performing cryptocurrencies in the past 24 hours, with the price standing above the considerable psychological number of $100. Throughout this analysis, we'll show you how to apply the Elliott Wave theory to identify where we are in the overall bullish cycle. AVAX Elliott Wave Analysis Long-term Elliott Wave analysis suggests that AVAX price is in a bullish cycle from the September 22, 2020 low. Up from there, wave I ended with the $63.30 swing high with an internal subdivision as a 5-wave structure. Then, the price resumed lower in wave II towards the $9.25 low. The rally in wave III ended at the current all-time high of $151.22. We're currently resuming lower in wave IV, which has a high chance of being completed at the $72.0 swing low. Usually, there is an alternation between wave II and wave IV in Elliott Wave analysis. If wave II is an extended consolidation, then wave IV is a sharp correction, which is the case for the AVAX's price. Short-term, as far as AVAX's price remains above the $72 low, we can expect another rally in wave V to complete the five Elliot Wave sequences. We can already see the return of the bullish momentum on the RSI oscillator as the RSI already broke above the mid-level 50.
BINANCE:AVAXUSDLong
by cryptohopper
1
Crypto.com Coin Eyeing $1As per the Elliott Wave analysis, the Crypto.com Coin (CRO) shows an impulsive price structure that calls for higher prices. CRO has gained more than 57% in the past 7 days, breaking above the mid figure $0.50. CRO is now looking ahead to eye another significant milestone – the $1.00 mark. Elliott Wave Analysis The Elliott Wave analysis suggests that the rally from the 3 November low can unfold as a 5 impulsive wave structure. Up from 3 November low, wave 1 ended at the $0.42 high. Then, the coin extended lower in wave 2 towards the $0.31 low, and from there, it bounced higher in wave 3, which is currently still in progress. Wave 3 can be broken down into 5 sub-waves, but the move towards the current high of $0.69 only unfolded in 3 waves. Wave 4 seems in progress now, which should end above the support level of $0.42. From there, we would need one more leg higher to hopefully complete wave 3 of a higher degree. Once this is completed, there is still more upside to come in wave 4 and wave 5 to fully complete the entire 5 wave sequence.
COINBASE:CROUSDLong
by cryptohopper
1
Solana Climbs Up the Stairs to a New all-Time High?Solana (SOL) has been slowly and steadily moving to the upside like it is climbing a staircase. The staircase effect is an easy way to make sense of the technical picture, and it provides clear support and resistance levels to better time the market. Staircase Effect As the name suggests, the staircase effect happens when the price moves in a stairs-like pattern, consisting of a series of rising steps. Each step is a resistance level that turns into support once the price breaks above it. There are some similarities between the “steps,” which are highlighted below: 1. The staircase pattern starts with a sideways movement that typically lasts 89 bars (using the 4-h timeframe) 2. On average, with each rising “step,” SOL has gained approximately 22% When the sentiment shifts, the staircase effect will make the shift evident as support will start breaking down. Right now, the previous support comes down at around the $220 level. During each previous consolidation zone, we had a successful retest of the previous range. The current downside move towards the support follows the same pattern. If the support level holds, we can expect the bulls to regain control and potentially send SOL to a new all-time high.
Long
by cryptohopper
OKB Price Analysis: Bollinger Bands Squeeze and Hook PatternOKB has been one of the top-performing cryptocurrencies over the past week, with more than 58% gains. A very rare chart pattern, which on the surface might not say much, is pointing to a trend in the making. The recent explosive move was triggered by the Bollinger Bands squeeze and hook pattern. Bollinger Bands Squeeze Pattern In technical analysis, the Bollinger Bands squeeze happens when the two bands turn flat and get closer to each other. This indicates that there is an ongoing ranging market. This implies that when the Bollinger Bands are flat, the price tends to make explosive moves in either direction. Often, consolidations lead to trend expansion, but many times there are false breakouts too. To distinguish between a false breakout and a genuine breakout, the Bollinger Bands come in handy. When we have a breakout and the upper band “hooks” upwards, while the lower band hooks downwards, there is a higher probability of a trend continuation in the direction of the breakout. The daily OKB price chart displays the exact pattern described above. The upside breakout was accompanied by the Bollinger Bands hook in the opposite direction. Moving forward, if OKB sustains the break above the $25.21 resistance level, there is a high probability for the bulls to challenge the next resistance level found at $42.16.
Long
by cryptohopper
BTC Fractal Calls for $30K, While Stock To Flow Points to $100KBitcoin's (BTC) price seems to be following a very unique fractal pattern that suggests Bitcoin's price could hit the $30k support level by the end of the year. If BTC's price follows the same path it had during the first half of the year traders, should expect another pullback before the smart money will get back into the market, but that may not be the case. 2021 Fractal Pattern In technical analysis, a fractal pattern is reoccurring price action that is self-similar and is repeated again. For example, if we compare the rally from this summer low with the rally from mid-January, the price structure looks very similar but on a smaller scale. The price analogy seems quite compelling, and it anticipates that we're on the verge of a downside breakout, similar to the downside breakout below the considerable psychological number of $50,000 that happened in mid-May and sent the price of the most valuable cryptocurrency towards the $30,000 low. We're currently in the same spot, but this time BTC's price is above the $40,000 support and ready to break to the downside, the same way it did in mid-May. RSI Momentum Additionally, the RSI oscillator has printed bearish momentum readings which favor the bears. At the same time, BTC's price has struggled to regain the 200-day moving average, and while we're trading below the SMA, the trend remains bearish. Other Side of the Story The stock-to-flow model that many traders believe in suggests that BTC will reach $100,000 by the end of this year. Whether we will see a break to the downside or a renewed bull run remains to be seen. October and November have been historically the best months for Bitcoin and the crypto market in general. If history were to repeat itself we can expect a large increase in the next two months. Looking forward: The bears would need a daily break and close below the considerable round number of $40,000, which will open the door for the 2021 Bitcoin fractal to be repeated again. On the other hand, if the bears cannot achieve this in a timely manner, the stock-to-flow model will probably turn out to be accurate, and Bitcoin will indeed reach $100,000 this year.
BITSTAMP:BTCUSDLong
by cryptohopper
2
Near Protocol Price Analysis: ABC Pattern Calls for a Temporary Near Protocol (NEAR) cryptocurrency was among the few digital currencies that sustained a big rally while the cryptocurrency market underwent a massive sell-off. In Elliott Wave analysis, the ABC pattern is a 3-wave pattern where wave A and wave C are equal in length. ABC Pattern From October’s 2020 low through March’s high, NEAR developed its first leg A. The price correction going from March’s high through July’s low represents the second leg B of the 3-wave pattern. Based on the Elliott Wave analysis, the continuation higher within wave C can end anywhere between 100% and 1.272 Fibonacci ratios, which is between $8.84 and $10.83. On the flip side, a lower correction will find the first level of support at $7.56, followed by the $4.11 level. RSI Momentum On the RSI oscillator, we have positive momentum readings above the mid-level 50. If we have a lower reaction and the RSI momentum readings remain above the 50 level, the bulls are expected to keep control. A daily close below the considerable psychological number of $10 can signal that a correction is underway, at least in the short term.
BINANCE:NEARUSD
by cryptohopper
Ethereum Price Analysis: Bullish Flag Calls for $5,000 Price TarEthereum (ETH) has developed a bullish flag formation, which is a continuation signal that calls for a $5,000 price target. If the bullish flag pattern is confirmed, this could send Ethereum's price to a new all-time high above the previous high of $4,384. Bull Flag Pattern On the daily chart, Ethereum's flag pattern pole was created between 20 July and 13 August, and the flag between 9 August and 30 August. The cryptocurrency already broke out of its bull flag, indicating that the three-week-long consolidation phase has ended and the prevailing uptrend has resumed. The projected target of a bull flag pattern is taken by measuring the length of the preceding bull run, also known as the pole, and adding the same price length to the breakout price of the flag. In this case, the flag breakout has opened the door for the price to move towards the considerable psychological number of $5,000. Momentum RSI Reading The $5,000 price projection is also supported by positive momentum readings. The RSI has printed consistent readings above the mid-level 50, signaling that we have bullish momentum behind the current rally. In addition, ETH prices are above the critical 200-day EMA, which also supports the bullish case scenario.
COINBASE:ETHUSD
by cryptohopper
LUNA is Fighting to Reclaim the 200-day Moving AverageTerra (LUNA) threatens to reclaim the key 200-day simple moving average, which will signal a shift in the current trend. LUNA's price has successfully broken above the key 200-day EMA and the prominent psychological figure of $10.00, marking a change in the trend from bearish to bullish. Price Structure Starting with the May 23 low, Terra's price continued higher, printing a series of higher highs followed by a series of higher lows. Thus, the entire price movement can be confined within an upward channel. However, the recent break above the upward resistance channel signals more demand. As per the technical definition, a break above the upward resistance channel signals a trend continuation to the upside. Additionally, if we study the price structure that emerged from the all-time high of $23.30, LUNA developed an ABC price structure, which by definition is a corrective pattern. In other words, there is a high probability we can turn higher from here, unless the ABC price pattern is part of a broader corrective pattern. Moving forward: on the upside, the next level of resistance to keep an eye on is $13.25, followed by $18.80. The current bullish run will remain intact as long as prices stay above the 200-day MA on a closing basis.
LLong
by cryptohopper
BCH's Double Bottom will Lead to....Bitcoin Cash (BCH) was trading back near the $382 low but the price failed to break below and is now in the process of developing a double bottom pattern. If BCH’s moves continue to be supported above the $382 support level, this temporary bottom can provide more fuel to the bulls. Downward Sloping Trendline The bulls need to overcome the downward sloping trendline that connects a series of highs starting from May’s high of $810. A daily break and close above this trendline can cement the bullish trade signal. To the upside, the first level of interest comes at the $550 resistance level, followed by $760. A daily close above the big psychological number of $550 can open up the door for more upside. However, at the same time, we should not forget that the current bearish cycle in the cryptocurrency market is not over yet, and rallies tend to be short-lived. RSI Momentum Readings RSI oscillator continues to print negative momentum readings below the mid-level 50. The bearish momentum readings suggest that the current rally still lacks momentum, so bulls need to remain cautious. A break above the RSI mid-level 50 can confirm a shift in the momentum direction.
COINBASE:BCHUSDLong
by cryptohopper
ALGO's ascending triangle is ready for a breakout!Algorand (ALGO) has formed an ascending triangle pattern on the 4-hour chart. ALGO has been following a higher rising trendline but found repeated resistance around the $0.924 level. We’re currently at a point where the price can soon break on either side as the price congestion is becoming tighter and tighter. Ascending Triangle Price Target In technical analysis, the ascending triangle is a bullish chart pattern, but since the long term trend is bearish, we can’t rule out the possibility of a downside breakout either. Generally, the profit target for the ascending triangle is the measured triangle depth which is added to the flat resistance line projected to the upside. In our case, the price target is the $1.180 level. But first, we need the breakout to the upside to hold above the resistance level of $0.924. Money Flow Index The Money Flow Index (MFI) signals a positive buying pressure as the MFI readings have been constantly above the mid-level 50 while we were developing this ascending triangle. The MFI can also be used to gauge any downside breakout. If we break below the upward sloping trendline, but the MFI remains above the 50 level, it might be a false breakout signal. In this case, we would need to readjust the trendline to fit in the new price developments. Looking Ahead: The next big hurdle that the bulls need to overcome besides the triangle flat resistance level is the vital psychological number $1.0.
COINBASE:ALGOUSD
by cryptohopper
UMA is Fishing for a Bottom in a Bear MarketUMA (UMA) is in the process of establishing a rounded bottom following the attempt to break above the strong psychological level of $10.00. Technically speaking, UMA is still in a bear market, but the recent rally might be an early sign of a shift in the trend direction. Stochastic Bullish Readings Looking at the technical indicators, the stochastic oscillator is emerging from oversold readings on both the daily and the 1-hour chart. On the 1-hour chart, UMA had the stochastic readings staying in the 80 zone for most of this rally. This is often a sign of more demand than supply and, subsequently, low levels of short interest. Conversely, if the market remains overbought (or oversold) for an extended period, that's actually a sign of strength. In the short-term, the token is also trading above the key 100 simple moving average, which now comes to around $8.90. Looking Ahead: The bulls need to take control and keep UMA's price above the considerable round number of $10.00 to keep the bullish momentum going. On the upside, true resistance comes $18.00, while on the downside, the short-term support comes at $9.26.
COINBASE:UMAUSD
by cryptohopper
1
ETH Triangle Breakout or Still Consolidating?Ethereum's (ETH) price has been squeezing in a relatively tight range resembling a symmetrical triangle. From here, we have two trading scenarios: either the range becomes tighter as the price gets squeezed in between the upper triangle resistance and lower triangle support, or a breakout to the downside might be in the cards. Playing the Breakout The symmetrical triangle is a neutral chart pattern, but the downside breakout might carry more weight since the prevailing trend is bearish. A breakout of the upper sloping trendline can expose the 200-day moving average, which right now comes at around $1,832. The 200-day MA is above the most recent swing low, which comes at $1,730. This might be a positive development for the bulls since the bears will first need to overcome two major support levels that come together into a single place. Support and Resistance Levels: Key support and resistance levels to watch come at the $2,900 - $3,000 price zone, and the $2,200 - $2,280 price zone. RSI Bearish Momentum Buildup Another development that might get the bulls worried is the RSI bearish momentum buildup. The RSI indicator readings have been below the 50 level during the entire time ETH was trapped inside the symmetrical triangle pattern. An RSI reading below 50 usually indicates bearish momentum pressure.
BITSTAMP:ETHUSD
by cryptohopper
1