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J-ETH

Sept 1Overview: A significant sell-off occurred at 10 AM on Sunday in New York, which was 9 PM in Shanghai. The Asian bears have made their presence felt. Will American bulls step in to buy this dip, or have they had enough? Between 4-5 AM NYC time, the COINBASE:BTCUSD price was pushed back up to the $58.4k weekly level, but it has now clearly become a resistance level rather than support. As the Labor Day hangover fades and Tuesday approaches, we hope the digital currency market remains intact. W: After Sunday, last week's closing price was below the previous week's opening price and below the weekly level of $58.4k. This is bearish. D: The new daily closing price of $57.3k is the lowest in this retracement since the August 5th crash. Bearish. 4h: Previously, we had visited this low price, but it didn’t close at the end of the day, making it appear as a wick on the daily and weekly candles. However, on the 4-hour chart, it is visible as a candle body, which gives the impression of trading within a price range. If we look at Bollinger Bands, the price has failed to break the moving average since crossing it from the top on August 26th. 1h: This drop in price can be considered a bear trap. This becomes increasingly clear as we move to lower time frames (4h, 1h, etc.). Alts relative to BTC: Altcoins sold off more deeply but are now recovering faster than BTC, mainly due to their volatile nature. Bull case: We held the weekly level, so this could be the bottom. Bear case: Once Tuesday rolls in, the market might start selling frantically. Fear and Greed Index: 42.5 - trending downward. Once it dips below 40, entering the "Fear" zone, everyone should start buying. Prediction: Tuesday will bring a wave of bears. Opportunities: Look for divergences on the weekly and 4-hour charts of major altcoins: Short BINANCE:TONUSDT
COINBASE:BTCUSD
by EvgenCapital
Altcoins Can Drop Another 75% - Worst Case Scenario!In this analysis I want to talk about a long-term parallel channel on TOTAL3, which is the total marketcap of all altcoins. Preface: before everyone gets offended etc, this is not my most likely scenario. Big chance that this pattern won't play out. Nevertheless, it's important to consider different market outcomes. Trading consists of IF>THEN decisions. Ask yourself, if the market drops another 75% from here, what will you do? Now into the analysis. The parallel channel is constructed from the top resistance and anchoring that resistance to the 2020 covid dump. As seen on the chart, alts lost over 92% of their value in the 2018 cycle. Currently, alts have lost 75% of their worth during the last cycle. If alts were to go down towards the bottom yellow support, they could lose around 85%-88% (depends on time) value. In other words, if this worst case scenario were to play out, alts could lose 70%-7% of their CURRENT value. Is this pattern likely? No. Should you prepare for it? Yes. Keep it simple, assume that the bottom support area is a great long-term entry point and can function as a bear-market bottom in case we go down further. There is definitely some risk of a recession as per my last yield-curve analysis. Furthermore, the SAHM Rule Recession indicator (google it) signals that a recession is coming. If the stock markets would go down like in 2001 and 2007, we're in for a wild ride in crypto. Happy to hear your thoughts.
CRYPTOCAP:TOTAL3
by FieryTrading
16
The Parallels of Trading and GolfAs both a Professional trader, but amateur golfer. recently tried to explain to someone the similarities, especially in the emotional side of golf and trading. I thought it might make an interesting article. Golf, much like trading, is a sophisticated blend of skill, strategy, and psychology. While trading involves navigating financial markets, golf requires skilful manoeuvring across challenging terrains. Both activities demand a strategic mindset, the ability to adapt, and the resilience to handle emotional highs and lows. The Right Club for the shot In golf, a player selects from a variety of clubs, each designed for a specific type of shot and distance. In trading, an investor uses different strategies tailored to particular instruments and timeframes. Just as a golfer wouldn’t use a driver for a close-range putt, a trader shouldn’t apply a long-term investment strategy on a 1-minute timeframe. The key is understanding which tools to utilise for the setup, whether it’s choosing a wedge to escape a bunker or a driver to blast the ball down the fairway. Different Scenarios Golf courses are full of diverse challenges, from long par 5s to intricate par 3s as well as those horrible 4s too long to drive, yet technical. A golfer must adapt their approach to the difficulty of each hole, just as a trader must respond to different market conditions. A poor shot on a par 5 might still recover with subsequent careful play, similar to how traders can bounce back from a loss with well-planned actions in subsequent trades. Success in both fields relies on adapting to circumstances while focusing on the overall objective. Remember there are 18 pins on a golf course, one bad shot doesn’t cripple the account (I mean, doesn’t end the game). Managing Emotions Golf is notorious for inducing a wide range of emotions, from the frustration of a missed putt to the euphoria of a perfect drive. Trading elicits similar emotional responses; the thrill of a profitable trade contrasts sharply with the despair of a loss. You ever notice that you take profits early and let losses run too long? Yup; not wanting the ball in the woods is the same, yet we still reach for the driver. Both golfers and traders must manage their emotions effectively to maintain focus and make rational decisions. Emotional discipline is vital; letting emotions dictate actions often leads to mistakes, whether it's over-swinging in frustration or impulsively buying or selling a stock. Risk management in either scenario. Learning and Improving Professional golfers continuously work to refine their swings and improve their game. Similarly, traders must commit to ongoing education and self-improvement. Doctors or lawyers don’t become professionals after watching one or two videos online. Neither does a trader. Analysing past performances, whether it’s reviewing a golf game or assessing trading results, is crucial for identifying areas of improvement and fine-tuning strategies moving forward. But only you can do this “honestly” claiming a birdie when it should be marked as a bogey is only cheating yourself. To Master the Art The pursuit of mastery in both golf and trading is a lifetime journey. Neither field offers shortcuts to success; both require dedication, practice, and resilience. However, the sense of accomplishment and reward from mastering a challenging golf course or successfully navigating complex markets can be immensely satisfying and still that one bad shot is soul-destroying. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years' experience in stocks, ETF's, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSD
by Mayfair_Ventures
6
ETH/USDT: DAILY TECHNICAL ANALYSIS!!Hey everyone! Appreciate a like and follow if this analysis helps! ETH is currently trading around $2400 level. It forms a symmetrical channel in the daily time frame and approaches towards the channel's lower trendline. As you see in the chart, it has a strong support of around $2100-$2300 level (Green Box). After we test this support, expecting a good bounce in quarter four of this year. All we need to survive the next 20-25 days patiently. After that, we will see a huge upside in the crypto market. What are your thoughts on Ethereum's current price action? Share your analysis in the comments!
Long
by CoreCrypto1
ETH/USDT 4-HIOUR CHART UPDATE !! ETH/USDT is currently trading at $2,448, down by 0.07%. On the 4-hour chart, ETH shows signs of weakness after breaking down from a rising wedge pattern, a bearish signal suggesting a potential downside. Immediate support is around $2,395, with a more significant support level near $2,165, where a long-term trendline may provide a strong base. Resistance is seen at $2,580, and a break above this could shift the trend back to bullish. However, failure to hold above support levels might push ETH towards lower zones, potentially targeting the $2,100 area. Watch for volume confirmation on any breakout attempts. Note: This is not financial advice. Stay tuned for further updates and analysis. Thank you!
by CryptoSanders9563
Ethereum still in accumulation zone, what's next?After Ethereum has been in a downward channel, it breaks the sequence at point #4, which remains in the accumulation range from previous days. This zone is extremely important because, as you can see, it has been moving within this area for several days, which means that the price could gain strength at any moment and start a bullish run. But NOTE: as long as the price remains within the channel, there will be no bullish run. We need to wait for the price to break out of the downward channel to confirm that it is heading back to the supply zone. Thank you for supporting the analysis. ETH is at a point where adding a position might be considered; let’s hope the price makes a decision soon. Thankyou for supporting my analysis i invite you to visit my analysis on Bitcoin Use bitcoin price movement as a base of all the crypto market trend. Best Regards
COINBASE:ETHUSD
by RocketMike111
ETH → a short position signalhello guys. Resistance Zone: Price action has recently tested the resistance zone around $2,668-$2,715 (yellow shaded area), which aligns with a Fibonacci retracement level of 0.618. The price was unable to break above this resistance and has started to move downward. Bearish Trend Formation: A clear downtrend is forming as the price has failed to make a higher high and is now making lower lows. The downtrend is confirmed by the rejection from the resistance zone. Fibonacci Retracement Levels: The chart uses Fibonacci levels to highlight potential support and resistance areas. Key levels to watch: 0.382 retracement at around $2,455.94 0.618 retracement at around $2,395.78 (next target zone) Key Support Levels: The next significant support level is around $2,366 (highlighted by the yellow zone at the bottom). If the price continues its downward movement, this area may serve as a potential buying opportunity or a target for short positions. Potential Trading Strategy: The bearish momentum suggests considering a short position with a target near the $2,366 support zone. A stop-loss could be placed above the recent high at $2,668 to manage risk. Market Outlook: Bearish in the short term as the price is likely to continue declining towards the next key support level. Overall, the chart suggests a bearish trend with a potential downside target around $2,366 if the current support level fails to hold. ___________________________ ✓✓✓ Always do your research. ❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them. ❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
by melikatrader94
2
Aug 31, Week overview.Overview: The Personal Consumption Expenditures (PCE) Price Index for July, also known as the inflation rate, was reported at 2.5%. This matches the rate from June and is consistent with the readings from January and February of this year. The PCE is similar to the Consumer Price Index (CPI), but the Federal Reserve prefers the PCE because it accounts for changes in consumer behavior and provides a broader measure of inflation. For example, if consumers switch from buying beef to chicken because beef becomes more expensive, the PCE captures this substitution effect, whereas the CPI does not adjust as quickly. The FRED:SP500 SP500 closed the week with a strong performance, breaking out of its established range with the highest volume seen in the last 20 days. However, this surge wasn’t driven by the volatile tech sector, as evidenced by the weaker performance of NASDAQ:QQQ . The Dow Jones Industrial Average ( TVC:DJI DJI) closed with a confirming green candle, cementing its all-time high. The economy appears to be booming. W: This week, COINBASE:BTCUSD completely retraced last week’s green candle that touched the Bollinger Bands (BB) moving average (MA). It's always interesting to see what happens during Asian trading hours on Monday morning (late Sunday evening in the US). This time, the US might not interfere with Asian market movements due to the Labor Day holiday. If there’s a sell-off, US bulls might be away from their brokerages, unable to support the crucial $58.4k level. Bearish. D: Over the last four days, BTC has seen lower highs but the same lows. This period mirrored the global liquidity index, which has been declining for the last four days as well. No divergences. 4h: No divergences. BTC is below the Point of Control, which is bearish, but it is aiming to break the weekly support line for the third time in four days. Neutral. 1h: Range trading. No divergences. Neutral. Alts relative to BTC: Alts are weaker than BTC. This is the type of divergence we typically look for. BINANCE:SOLUSD and BINANCE:NEARUSD have been sliding down for the last eight days, approaching their August 5th closing prices. BINANCE:ETHUSD is only 2.44% below its recent level. Bull case: A booming stock market could reduce inflation concerns. Market participants may turn optimistic and start betting on riskier assets. BTC could hold the $58.4k level once again, and next week we might see a big green candle that initiates the fourth bull run wave of the current cycle. Bear case: The worst happens—while bulls are celebrating Labor Day, Asian bears could completely annihilate the market. Fear and greed index: 46.36. Flat for four days. Prediction: Short-term outlook is indecisive. Weekly outlook remains bearish. Opportunities, at W, 4h divergences of major alts: Many Alts are at weekly levels as BTC attempts to bounce off its support level. This presents an opportunity for a few short-term green candles. However, be cautious, as you will be betting against a larger trend, so set tight take-profit (TP) levels and even tighter stop-loss (SL) levels.
COINBASE:BTCUSD
by EvgenCapital
Is an Altcoins rally coming? When? ETH/BTC 1W chart;CRYPTOCAP:ETH CRYPTOCAP:BTC 1W chart; On the chart we see two falling trend lines (red dash), one rising trend line (green dash). The price is in this range. It bounced 2 times from the OB resistance just above it. This place is weakened. It can also be interpreted that if it weakens enough, it may go up to the OB area above. It touched the lower green trend line 3 times and the last time it touched it, the mismatch on the RSI side stands out. So it gave an upward signal. The big red candle on the right shows the monthly volume. In other words, since the month started, it has gone down without going up. The appreciation of #Eth against #Btc means that altcoins are also appreciating. Accordingly, it is expected that a movement in altcoins will begin. Likewise, I have previously informed that many of the altcoins are in strong bottoms and trend compression. Although there is a downtrend extending from September 2022 to the present day, a close above the -OB level just above the current level will be the beginning of an upward trend. Therefore, it is important to follow this level.
Long
by ugurtash
ETH 1H🔍 ETH/USDT Analysis: 1-Hour Timeframe 📉 The ETH/USDT chart on a 1-hour timeframe highlights significant upcoming dates where price movements may present trading opportunities. As always, it is crucial to analyze these signals in conjunction with higher timeframes for a more comprehensive understanding of the market. • August 24, 2024, 21:00, August 25, 2024, 21:00, August 28, 2024, 12:00 - Red Lines: These times mark potential local peaks. Traders might consider these as moments to take profits or reduce exposure, as the price could encounter resistance or a downturn. • August 22, 2024, 21:00, August 25, 2024, 05:00, August 26, 2024, 15:00, August 29, 2024, 15:00 - Green Lines: These times indicate potential local lows, providing favorable conditions for accumulating ETH or entering long positions. When working with this 1-hour timeframe, keep in mind that these movements should be evaluated with a global perspective, considering higher timeframes to better grasp the overall market trend. For short-term, intraday, or scalp trades, consider analyzing lower timeframes. Note: The exact timing of these phases can vary by +/- a few hours. All times are based on UTC-7 (Los Angeles).
by trushkovskiy
ETH 🔍 ETH/USDT Analysis: 1-Hour Timeframe 📉 The ETH/USDT chart on a 1-hour timeframe highlights significant upcoming times where price movements may present trading opportunities. It’s essential to analyze these signals in conjunction with higher timeframes for a comprehensive market view. • August 31, 2024, 12:00 AM - Red Line: This time marks a potential local peak, signaling a possible moment to reduce exposure or take profits. • September 2, 2024, 9:00 PM, September 4, 2024, 9:00 PM - Green Lines: These times indicate potential local lows, offering favorable conditions for accumulating ETH or entering long positions. • September 9, 2024, 5:00 PM, September 13, 2024, 9:00 PM - Red Lines: These are additional times marking potential local peaks, suggesting moments to consider exiting positions before a downturn. Note: The thick lines on the chart are derived from a 4-hour timeframe. When working with this 1-hour timeframe, remember to evaluate these movements within the broader market trend, considering higher timeframes for a more global perspective. Note: The exact timing of these phases can vary by +/- a few hours. All times are based on UTC-7 (Los Angeles).
Long
by trushkovskiy
Continuation of seasonal growth from next weekTo date, we have come to the next emerging wave of growth, let's look at interesting coins. Since mid-August, the market has been experiencing annual seasonal growth, and therefore I expect the bullish trend to continue. According to the tops, the picture is very contradictory. Ether opened the second half of the quarter in a negative zone, which gives a signal for confident sales at every opportunity. The pullback on the monthly candle has already been worked out this week, but after mid-September it is worth taking into account the high probability of a pullback on the quarterly candle. A successful break above the 2750 level supports the price for now and retains the probability of going to 3000-3100 at the beginning of the new month. A supporting factor for the price may be the opening of the month above 2750. Today and tomorrow, the bulls have the last two days left for the growth of coins on a monthly schedule, in connection with which new waves of growth can be expected to consolidate the monthly candles bullish with the continuation of the trend in the first half of the new month, especially for coins that did not show growth last week. By the next two weeks of growth, there are quite a few oversold coins left. First of all, vib og ast gft quick is more reliable for medium-term investments today as an alternative to vidt and uft that have reached high levels so far. According to vib og and gft, all coins are in circulation, and therefore the price moves quite smoothly according to the general dynamics of the market, with attempts at significant overshoots in the bullish period. Pros oax and ooki remained among the riskier assets, but with the highest growth targets. Vib is suitable for purchases anywhere below 0.085, with a medium-term growth potential up to 0.15-25. The third wave of growth is outlined on the monthly chart, in which there is a high probability of an impulse to a significant overshoot. A similar pattern has already worked on the monthly gft chart and the weekly quick chart. Gft is interesting for purchases everywhere below 0.0175-190, however, it has high liquidity due to its presence on a variety of exchanges, including derivatives. In this regard, it can be used to save funds in the average amount already below 0.021 with additional top-ups in case of a drawdown below against the background of general market dynamics. After the breakdown of the 0.064 level, there is a signal for the 0.075 test in the future. To date, at least we can expect the monthly pinbar to fill with a trend up to the retest of the 0.05 and 0.06 levels. Og is by far the most powerful fantoken. Due to its rather high liquidity, due to its presence on exchanges and derivatives, it often shows extremely high volatility. In the medium term, it is also quite reliable due to almost complete emission and is well suited for scalping with frequent breakouts of up to several x's. It is interesting to work everywhere below 3.5. Quick is quite reliable fundamentally, because it is in the most oversold position among the tokens of the exchanges. In the average period, the growth potential to 0.15-25 and after the spring breakdown, it looks like the accumulation is ending and the bullish trend has begun to recover on the weekly chart. The nearest target so far is at least a retest of 0.075-85, probably by the end of the year with an attempt to move above 0.075 if the new year opens. Ast has recently entered a highly oversold zone and is interesting to work everywhere below 0.12. So far, not all coins are in circulation, which will contribute to rollbacks after large waves of growth and the creation of new options for earnings. With the current issue, the target is a retest of 0.150-175 at least. There are only a few coins with low liquidity that are traded with powerful impulses. Although such coins are dangerous for long accumulation with unstable breakouts, they pleased with a large profit in the end. These currently include pros oax and ooki. According to pros, a small part of the coins is still in circulation, which increases the probability of a retest of loyalties in the average market. However, the absence of a monitoring tag gives greater confidence and today a third wave of growth is also planned on the monthly chart with a possible impulse to significantly move into the range 1-1.25. That is, the potential is up to 4-5. According to ooki, after the change in the current supply, the dynamics will become smoother with possibly more stable growth waves. Signals for growth up to 0.0075, that is, up to 6-7X, were left, however, with the current emission, the 0.0045-50 retest is still more reliable. Oax, like ooki, remains the last most oversold token in the monitoring tag. So far, the main goal is to double-check the trend of the spring pulse up to 0.35-50. However, on the monthly chart, a breakdown pattern with a powerful overshoot from the third wave is also likely, in this case, if a stable trend is successfully maintained, there is a probability of a test of 0.75-1.25. Let me remind you that the greatest probability of growth remains from today (especially after the closure of the foreign exchange market) to the beginning of a new month (up to two weeks), after which it is worth paying attention to money management, the number of coins in operation, the size of positions and the price range, due to the likelihood of a major rollback. We do not hesitate to ask questions about the position of the market and coins in the work.
BITSTAMP:ETHUSDLong
by Strateg_
Ethereum: Watch This Channel!ETH has been trading inside this channel for over two years now. After the recent touch of the support, the support has solidified itself even further. Note that the support is a more clear-cut line, while the resistance is more an area. Another touch of the bottom support would potentially be great news for the bulls, hence the signal on the chart. Seeing that we already touched it recently, we can use the wick as a clear stop level. Target placed at the top of the channel, $5000. This will create a great trade with a RR of 8.5. Keep in mind that the support could potentially also break down. This would indicate a long-term bearish shift in trend.
Long
by FieryTrading
4
Ethereum - Bearish M-Pattern, DEMAND Zone ApproachingETH is still correcting after the bearish chart pattern (M-Pattern) formed. The next major demand zone is identified two ways: ✅- Connected with the longstanding diagonal trendline, which acts as a support ✅- Bounce zone for previous major candle wick ✅- Previous resistance, then support, now about to be retested as support As a first stop, the lower white trendline can be used as a price range guage: Remember that the price will remain bearish until daily candles start to close ABOVE the red trendline, in which event it will turn green. ________________________ COINBASE:ETHUSD BINANCE:ETHUSDT
COINBASE:ETHUSDShort
by CryptoCheck-
2
Bitcoin Quick Bullish Channel Set-Up: Trade The Wave!In this analysis I want to take a look at the bullish channel that BTC has been trading in for around 3 weeks. The bottom support and top resistance are perfectly matchin price action, so my guess is that a lot of traders are looking at this set-up. I anticipate that BTC will reverse from this point. Unless the stock markets break down, the chart is clearly suggesting a reversal. To minimize potential losses we keep a tight stop. Target at the top resistance. When doing this we can create a decent trade with a good R/R ratio as seen on the chart.
Long
by FieryTrading
Aug 27Overview: The FRED:SP500 gave us another red candle on Thursday, erasing Wednesday's gains. It has been accumulating in this zone for a week, unfortunately drawing a longer lower wick. The effects of the September sell-off are starting to become more evident. NASDAQ:QQQ confirms our concerns, as its recent high failed to reach the previous high and is now curving downward, closing outside the accumulation zone. Not much has changed since yesterday’s correction; we're back in the familiar 58.4k-60k range. Bulls are now trapped and licking their wounds, while U.S. tech stocks begin to slip lower. For the second day in a row, selling volume from ETFs suggests that the public might be unloading positions after the bull trap. W: This week’s candle cancels out the previous week's run to 64k, aiming to close below the BB MA. However, there's nothing particularly noteworthy on the weekly time frame, as we still have four more trading days. Closing below 58.4k would be a bear's dream, while bulls would be content with staying in the current range, waiting for the rate cut and hoping for a pump. As we approach the 58.4k level, it transitions from a daily (D) level into a weekly (W) level, with bulls determined to keep it above that mark. D: Back to trading in the old daily range. 4h: Significant volatility occurred after re-entering the daily range. The next move, whether up or down, is likely to be substantial. This is a key area to analyze and make decisions. Before heading down, it might need to rally to 60.2k to offset the previous crash. If you want to join the bears, set your stop-limit order at 57.8k (1% below the 58.4k daily level), with a take profit target at the 55.9k weekly level. This strategy could yield a 3.29% return on a non-leveraged, pure spot BTC trade. Alternatively, for the more adventurous, consider leveraging a major Solana meme coin and applying the same strategy. 1h: Nothing significant is happening on the 1-hour chart. Alts relative to BTC: No divergence observed. Bull case: Same as yesterday. Bear case: Same as yesterday. Bulls are hurting after the trap, and QQQ is curving down. Fear and Greed Index: 45.88. The downward acceleration has stopped, but the index remains in neutral territory. Prediction: Small correction upward, followed by a continued decline. Opportunities at W and 4h divergences of major alts: BINANCE:SUIUSD shows a MACD divergence on the daily chart. As for other assets, a clearer picture will emerge tomorrow.
COINBASE:BTCUSD
by EvgenCapital
Sony's Stock Surge as Soneium Ethereum Layer 2 Testnet Goes LiveSony Group Corporation (NYSE: NYSE:SONY ) has made a strategic move into the blockchain space, launching the "Minato" testnet for its Ethereum Layer-2 solution, Soneium. The announcement has sparked investor enthusiasm, driving Sony's stock price up by 3.51% following the testnet's debut. This marks a significant step forward in Sony's efforts to expand its digital infrastructure and leverage blockchain technology for broader applications. Minato Testnet: A Key Milestone for Sony’s Blockchain Ambitions The launch of the Minato testnet represents Sony's commitment to fostering a vibrant developer ecosystem and advancing blockchain adoption. Developed in collaboration with Web3 infrastructure provider Startale, the Minato testnet offers a realistic environment for developers to test and deploy high-volume applications. This strategic initiative aims to enhance Sony's digital infrastructure, bridging the gap between creators and their communities in the Web3 landscape. Jun Watanabe, Chairman at Sony Block Solution Labs, emphasized the testnet's significance, stating, “We have opened our testnet as a first step to foster a fan community centered on creators that can connect diverse values through Soneium.” This step aligns with Sony's long-term vision of integrating blockchain solutions into its core business strategy. Strategic Partnerships and Developer Incentives Sony's rollout of the Minato testnet is bolstered by strategic partnerships and innovative programs designed to attract developers. Astar Network, renowned for its multi-chain framework, is supporting the testnet phase by offering initial liquidity and a range of digital assets, both fungible and non-fungible. This collaboration is expected to strengthen the testnet’s infrastructure, enhancing its scalability and robustness. To further incentivize developer participation, Sony has launched the Soneium Spark Program, which offers up to $100,000 in funding, mentorship opportunities, and industry connections. This program is aimed at cultivating a dynamic environment for innovation, providing developers with the resources needed to build and scale on the Soneium platform. Market Response and Broader Implications The market’s response to Sony’s blockchain venture has been overwhelmingly positive, with Sony's stock price climbing 3.51% following the announcement. The rise reflects investor confidence in Sony's strategic shift towards blockchain technology, anticipating new revenue streams and enhanced digital capabilities. Moreover, key partners such as Astar Network, Chainlink, Optimism, and The Graph are also poised to benefit from this development, with expectations of positive price movements. Additionally, Circle's initiative to bridge USDC on the Soneium blockchain highlights the platform's expanding scope in Web3 applications. The combination of strategic partnerships, financial incentives, and technical support positions Soneium as a promising player in the competitive blockchain landscape. Future Prospects for Sony and Soneium Sony's venture into blockchain technology with the Minato testnet launch is more than just a technological milestone; it's a signal of the company’s broader ambitions to integrate decentralized solutions into its existing ecosystem. The Soneium blockchain, with its robust infrastructure and strong developer support, could serve as a catalyst for Sony's growth in the digital space. With the growing adoption of blockchain technology and a focus on building a strong developer community, Sony is well-positioned to capitalize on new opportunities in the Web3 era. The successful launch of the Minato testnet marks the beginning of an exciting journey for Sony in the blockchain space, with the potential to redefine its role in the digital economy.
NYSE:SONYLong
by DEXWireNews
ETH (Ethereum): Approaching SupportTrade setup : Price broke below its 200-day moving average, which signaled downtrend. It bounced off $2,100 support and reached $2,800 resistance where it got rejected. Momentum is fading (MACD Histogram declining ). We would be buyers if price dips to $2,100 support again. The recent launch of nine ETH Spot ETFs could also boost demand for ETH. Learn to trade chart patterns in Lesson 8 and set Stop Loss levels in Lesson 9. Pattern : Price is Approaching Support, which is a level where it could pause or reverse its recent decline, at least temporarily. Support is often a level where price has bounced up in the past, or potentially prior Resistance level that was broken. (concept known as polarity). Once price breaks below support, it can move lower to the next support level. Learn to trade key levels in Lesson 7. Trend : Short-term trend is Strong Down, Medium-term trend is Strong Down and Long-term trend is Strong Down. Momentum is Bullish but inflecting. MACD Line is still above MACD Signal Line but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum could be nearing a downswing. Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70). Support and Resistance : Nearest Support Zone is $2,400.00, then $2,100.00. Nearest Resistance Zone is $2,620.00, then $2,850.00.
Long
by altFINS
ETH to follow the BTC Move?ETHUSD has been trading within the range of 2526 to 2826 since early August. Currently, as BTCUSD spiked lower, it seems to have dragged ETHUSD down with it. (also likely due to the current recovery in strength on the DXY) Similiar to the BTCUSD, there could be a brief consolidation/retracement on ETHUSD before a continuation lower to the 2300 price level. However, if the price retraces back into the previous range, ETHUSD could again be stuck in the August range.
COINBASE:ETHUSDShort
by JinDao_Tai