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Solana - We Will See A New All Time High!Solana ( CRYPTO:SOLUSD ) is preparing for an all time high breakout: Click chart above to see the detailed analysis👆🏻 After dropping -95% in 2022, Solana then rallied an incredible +2.000% and retested the previous all time high. Then we saw a quite long term but tight consolidation and just two months ago, Solana retested the lower support again. It is just a matter of time until we will see a breakout. Levels to watch: $120, $210 Keep your long term vision, Philip (BasicTrading)
CRYPTO:SOLUSDLong
by basictradingtv
8
GBPUSD Daily Bias (18th Oct. 2024)It's been 3 consecutive weeks of the Cable printing bearish volumes and we anticipate the bears are not tired yet, at least not today. Looking at the daily TF, we can see the bears just broke out of last week's consolidation on Wednesday and seem to be doing a pullback to clear internal liquidity from the new range it created following the breakout PA. We've identified Wednesday's high as possible IRL (internal range liquidity) that can sponsor a further move to the downside. We'll keep our arms folded as we await today's delivery. GLGT!!! LloydFx, Trade Monastery.
Short
by LloydFX
2
SPY Multi-Timeframe Analysis: S&P 500 ETF Trust (SPY)1. Weekly Chart: Uptrend Intact: The weekly chart shows that SPY continues to trade within a broader uptrend, consistently making higher highs and higher lows. It has held above its key moving averages, particularly the 50-week moving average (blue) around $515. MACD Momentum: The MACD histogram shows continued positive momentum. This suggests that bullish sentiment remains strong, with no significant reversal signals yet. Key Resistance: We are testing the $577 level, which appears to be a significant resistance zone. If broken, SPY could extend toward new all-time highs. 2. Daily Chart: Testing Resistance: The daily chart provides a clearer view of the immediate resistance at $577. We’ve seen several attempts to break through this level, but so far, the price has been contained below it. Moving Average Support: The 50-day moving average (green) has acted as strong support, currently around $555.80. As long as SPY holds above this, the bulls remain in control. Momentum Indicator: The MACD on the daily chart is trending positive, showing increasing bullish momentum. This signals that a breakout above $577 is likely if this momentum continues. 3. 4-Hour Chart: Bullish Momentum Building: The 4-hour chart shows a series of higher highs and higher lows, indicating the bullish momentum is building. Price has been supported by the 50-period moving average at $564.10. Immediate Resistance: The key level remains $577. A clear break above this resistance level on strong volume could signal further upside, potentially pushing SPY toward the $580-$585 range. MACD Shows Caution: While the MACD remains in the green, it’s showing early signs of slowing momentum on this timeframe. This suggests that a brief consolidation or pullback might occur before a breakout. 4. 30-Minute Chart: Tight Range Formation: On the 30-minute chart, SPY is trading within a tightening range, with support around $572.21 and resistance at $577.11. Key Trendlines: We can observe two converging trendlines (green and red), which often precede a breakout. If SPY breaks above the red trendline (around $577), it could lead to a strong upward move. Conversely, a break below the green trendline would signal a potential retracement. Bullish Outlook: SPY remains in a strong uptrend across multiple timeframes, with positive momentum indicators and key moving averages providing solid support. The next critical level to watch is $577. A sustained break above this could see SPY move toward the $580-$585 range, continuing the bullish trend. Risk of Consolidation: However, there is a risk of short-term consolidation, especially on the lower timeframes, before any major breakout occurs. A drop below $564 on the 4-hour chart or $572 on the 30-minute chart could indicate a deeper pullback.
AMEX:SPYLong
by Deno_Trading
1