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📈 Solana Shows Strength with 8% Weekly Gain Despite Correction!Solana (SOL) has exhibited notable strength in the cryptocurrency market, recording an 8% gain for the week. However, the cryptocurrency faced a correction after reaching a three-digit valuation. Here are the key details: Market Performance: Weekly Gain: SOL managed to secure an 8% gain over the course of the week, indicating ongoing strength in its market performance. Correction from Three-Digit Valuation: After reaching a valuation in the three-digit range, SOL experienced a correction. The psychological resistance posed by this level attracted profit-taking and selling pressure. Technical Outlook: Uptrend and Support Levels: As long as the uptrend remains intact, bulls maintain an advantage. SOL has established good support levels at $74 - $78, contributing to its overall bullish bias. Resistance Levels: Strong resistance is observed at $118 - $123, highlighting the price levels where sellers may be active. The ability of SOL to maintain its uptrend and hold above key support levels, particularly $100, will be crucial for sustaining a bullish bias.
Long
by Richtv_official
🚀💹 Binance Coin (BNB) Awakens with 18% Weekly Surge! 🌐🔥Binance Coin (BNB) has experienced a notable resurgence, surging over 18% and reaching a price level exceeding $300. This bullish momentum has propelled BNB to new local highs and is reviving optimism in the cryptocurrency, particularly after facing challenges from regulatory concerns in the United States. Here are the key details: Market Performance: Price Surge: BNB has recorded an impressive 18% price increase over the week, demonstrating a strong bullish reversal. New Local Highs: The cryptocurrency has achieved new local highs, marking a positive shift in its price trajectory. Resilience Amid Regulatory Challenges: Despite facing challenges related to regulatory scrutiny in the U.S., BNB has shown resilience and regained positive momentum. Technical Outlook: The current resistance is identified at $350, and a successful break above this level could pave the way for BNB to attain new yearly highs. The bullish reversal is surprising and brings renewed optimism to BNB, signaling a potential turnaround in its market sentiment.
Long
by Richtv_official
S&P 500 Daily Chart Analysis For Week of Dec 22, 2023Technical Analysis and Outlook: The S&P 500 index exhibited continued strength by rising above our Completed Inner Index Rally 4713 with the violent retreat on Wednesday to this strategic price level. The main target is our central Key Res 4800 and Outer Index Rally 4807, completed on June 4th, 2022. However, some concerns about a market squeeze from the newly created Mean Res 4769 might cause a pullback to Mean Sup 4700. This level of support is considered a strong support level for the index and can allow traders and investors to make a suitable entry decision.
SP:SPX
by TradeSelecter
2
EUR/USD Daily Chart Analysis For Week of Dec 22, 2023Technical Analysis and Outlook: The Eurodollar has shown significant price movements throughout this week's trading session by surpassing our previously achieved Inner Currency Rally level of 1.099 and its corresponding resistance at the same price point. The current price action suggests that the Eurodollar will likely continue to climb, with the target level set at Inner Currency Rally 1.109. However, it is essential to stay alert to the ever-changing dynamics of the Eurodollar market, as the price action may experience a drawdown.
by TradeSelecter
Bitcoin(BTC/USD) Daily Chart Analysis For Week of Dec 22, 2023Technical Analysis and Outlook: Throughout this week's trading session, Bitcoin has been trading within a Mean Sup 41200 and completed Outer Coin Rally 44500. This range has created a level of stability in the market and has allowed for some downturn in the short term: the intermediate down target is the robust Mean Sup 42300. This is a crucial level for traders to watch, representing a solid support level for Bitcoin. Overall, Bitcoin is projected to revisit the completed Outer Coin Rally 44500 and continue the upward trajectory as specified on the chart.
BITSTAMP:BTCUSD
by TradeSelecter
The final few liquidity grabs before the big dropBitcoin will not be seeing 45,000 any time soon as this “bullish” move has extinguished. Bitcoin’s all time highs are usually parabolic and unusually unpredictable but this chart reads clear as day that the trend formed has a limit. Rejecting off of key levels with volume supporting the move down, big money is opening positions below 44,000 and the vol oscillator on the daily is sustaining that move. There’s no major money being put on above 44,000, which is why we’re seeing a small grind up and prices oscillating between ranges. All of this combined is confirming a bearish consolidation. On the fundamentals side, Bitcoin is suffering from an extreme case of greed much like the stock market. It’s getting to a point where anything opposite of bull is met with difficulty. This kind of psychology is ripe for manipulation and rug pulls. Just the other day, I saw advertisements on YouTube of professional Bitcoin related businesses telling people to buy it. I don’t even search for Bitcoin related news on YouTube or Google so this is also what’s setting the alarm bells off. I don’t believe in fundamentals too much but I trade what I see on the technicals and it’s not looking good for longs, so I’m going to wait to get in. I don’t know how long it’ll take to get to my target but from mid 20,000 to 30,000 I see this reaching before any meaningful support with volume.
BITFINEX:BTCUSDShort
by MMinutes
3
BITCOIN SUPPLY AND DEMAND I have shown the supply and demand zones on the graph. At this point it remains to be seen how the price will react 43.6k$-44k$ . If we see acceptance, prices of 48K-50k are very possible. If we get a big rejection, it will be a trigger that the sellers are in advantage and we will have to look for strength in another zone (demand zone). Right now it's late to trade (long), so it's better to be patient and wait to see the reaction. I always go against the majority, and so far the sentiment is very positive. Big volume on sale and I think that in this in-between zone (where there is no trading) everyone will lose. Closing the week above $43.6k will be a very good indicator for continuation. I'm definitely of the opinion that bitcoin has done most of its work, it's time for ETH and I think 2024 is its year
BITSTAMP:BTCUSD
by learnfromfailure
1
NEAR LONG IDEA (continuation of the altcoin analysis series)Near has been showing strength in the last couple of days. Here are two scenarios I see: Rejection of 1,555, hold above 1,177 and continuation up(200MDA + 100MDA) Do not do anything below that price Target : 2.835 - 6 Continuation of growth to 2,344, return to the maximum to 1,613 and continuation up Target : 6 The trend change is also shown on OBV. In order for this to happen, you need retail that is optimistic
Long
by learnfromfailure
S&P 500 Daily Chart Analysis For Week of Dec 15, 2023Technical Analysis and Outlook: During this week's trading session, the S&P 500 index exhibited remarkable strength, with consistent price momentum throughout. The index managed to surpass our Key Resistance level of 4639 and Inner Index Rally level of 4647, finally resting at the completion of Inner Index Rally level of 4713. Looking ahead, the following two targets for an upward trend are the completed Outer Index Rally level of 4807 and the Key Resistance of 4800. Both price levels were created on June 4th, 2022. However, there are some concerns about a market squeeze from the current completed Inner Index Rally 4713 that might cause a transient pullback. In such a scenario, the index could move downward and reset itself to the Mean Support level of 4644. This level is considered a strong support level for the index and can provide an opportunity for traders and investors to make a suitable entry decision.
SP:SPX
by TradeSelecter
EUR/USD Daily Chart Analysis For Week of Dec 15, 2023Technical Analysis and Outlook: The Eurodollar currency pair has shown a strong rebound in the recent trading session, climbing to reach our previously identified Inner Currency Rally level of 1.099. However, this was followed by a sharp reversal, with the price dropping rapidly. The current price action indicates that the Eurodollar is likely to continue on a downward trend, with the designated target levels being Mean Sup 1.075 and Inner Currency Dip of 1.068. Overall, it's crucial to stay vigilant and informed about the ever-changing dynamics of the Eurodollar market to make the most of the opportunities it presents.
by TradeSelecter