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Resistence

BTC is dragging down, what's next for ETHHello everyone, let's look at the 4H ETH to USDT chart as we can see that the price is moving in a downtrend channel where we could see a bottom breakout from the local uptrend channel. And here the decline itself after leaving the rising channel, reached the 0.318FIB level at the price of $3020, which has just been broken, then there is strong support around $2805, then $2657, and then right at the lower border of the downtrend channel the support level of $2475 . Looking the other way, when the price starts to change the direction of movement, resistance is visible at the level of $3160, then the levels of $3270, $3356, $3468 are important, which is already above the upper limit of the downward trend channel, thanks to which the price will be able to increase to the area $3,770. Looking at the RSI indicator, you can see how energy is being collected and here we are approaching the lower limit, which can affect the trend and reverse it, also the STOCH indicator shows how the energy in the downward movement is exhausted, which may result in maintaining the price or an attempt to change the trend when BTC maintains the price .
by cryptodailyuk
Is LINK getting ready for an upward move?Hello everyone, let's look at the 4H LINK to USDT chart, because you can see how the price is moving in the local downtrend channel, and what's more, you can see a break from the bottom of the uptrend line. Let's start by setting goals for the near future that we can include: T1 = $15 T2 = $15.80 T3 = $16.33 AND T4 = $17.05 Now let's move on to the stop loss in case of further market declines: SL1 = $13.79 SL2 = $13.17 SL3 = $12.41 AND SL4 = $11.78 The RSI indicator shows that we are bouncing off the local downward trend line, which causes the price to rebound again, while the STOCH indicator is constantly moving at the lower border, which may lead to an attempt to rebound the price and exit the channel at the top.
by cryptodailyuk
BNB/USDT 4HInterval Chart ReviewHello everyone, I invite you to a quick review of the BNB to USDT pair chart, taking into account the four-hour interval. As we can see, the price has broken down from the upward trend line, and now we can see that a local downward trend channel has formed. Please note how the price remained in the support zone from $589 to $576, if this support was broken, the support level is still visible at $556 and then around $523. Looking the other way, there is a significant resistance zone from $601 to $606, then the price must go up through the resistance at $621, which will open the way towards $645. When we look at the RSI indicator, we will see a movement in the side trend channel, where we have bounced off the lower border, while the STOCH indicator indicates a potential upward movement, the beginning of which is visible on the chart.
by cryptodailyuk
BTC QUICK UPDATE!Hello everyone! If you enjoy this content, please consider giving it a like and following for more updates. Welcome to your BTC/USDT Quick Update! The chart on a lower timeframe shows a breakout from the symmetrical triangle, indicating a potential bearish trend. However, strong support sits at the $59,000-$60,000 level. We might see a bounce from there. If we break below this support, there's a high chance of visiting the $52,000-$53,000 level. What do you think about this? Share your views in the comment section. Thank You!
Short
by CoreCrypto1
BTC/USDT 4HInterval Chart ReviewHello everyone, let's look at the 4H BNB to USDT chart, as we can see the price has been moving in a sideways trend channel for a long time and currently we can see the price moving near the upper border of the channel, which is staying just above the local uptrend line. Let's start by setting goals for the near future that we can include: T1 = $594 - $611 T2 = $635 AND T3 = $662 Now let's move on to the stop loss in case of further market declines: SL1 = $570 SL2 = $542 SL3 = $519 AND SL4 = $492 When we look at the RSI indicator and the STOCH indicator, we will see that there is still room for a continuation of the current downward movement.
by cryptodailyuk
Technical Analysis: Gold Market ResiliencGold has surged to an astonishing level, nearing $2,350. Gold prices are struggling to attract any meaningful buyers amidst the emergence of new USD buying pressure. Betting on the Fed's likelihood to maintain higher interest rates for a longer period amid challenging inflationary conditions is expected to bolster USD demand. From a technical standpoint, despite gold being overbought, signs of recovery are evident. It is anticipated that gold prices will test the 0.5-0.618 Fibonacci level before continuing their upward trajectory.
OANDA:XAUUSD
by Stephen_Anders
EUR/USD: Short-term Outlook and Growth Trend of EUR/USDEUR/USD slightly increased on Thursday and is expected to remain stable in the Asian trading session on Friday, around the level of 1.0730. Looking at the one-hour chart, we can see signs of slight decrease in price. However, this is only a short-term prospect. There is a possibility that the price will retrace to the 0.5-0.618 Fibonacci level before returning to the upward trend and targeting resistance levels. The initial target is 1.0740, followed by 1.0756, and finally the psychological level of 1.0787.
by Daisy_Anna
XAUUSD: Signs of Recovery and Price Increase Prospects for GoldThe price of gold is currently undergoing a phase of recovery consolidation after breaking free from its daily lows, trading at $2,330 compared to the low of $2,305. This stability is reinforced by the higher interest rates of the US Treasury and the resurgence of inflation, leading to speculation that the Fed may cut interest rates in the near future. Looking at the chart, we can observe the adjustment of gold prices as it trades above the simple moving averages (SMA). Particularly, the SMA 20 is gradually trending upwards, signaling positivity. It is expected that gold prices will continue to rise and may even surpass the SMA 100, followed by a strong upward trend. This suggests that the market appears to be anticipating a positive shift from economic factors and monetary policy.
OANDA:XAUUSD
by Daisy_Anna
Technical Analysis:Euro Maintains Strength Against DollarThe EUR/USD pair edged lower in the Asian trading session on Friday, moving away from its two-week high around the 1.0740 level touched the previous day. Currently, the spot price is hovering around 1.0740 in the European session and remains dependent on the price fluctuations of the US Dollar (USD) ahead of key data releases from the United States. Based on technical analysis suggests that the price is trading above the simple moving average (SMA), with the SMA 20 trending upwards. It is anticipated that the SMA 20 will cross above the SMA 100, indicating a continuation of the strong upward trajectory and presenting a positive outlook for this currency pair in the near term.
by Stephen_Anders
1
Gold Prices Soar Following Release of US GDP DataAfter the release of the US GDP figures for the first quarter of 2024, the gold market experienced a strong price surge, surpassing the $2,330 threshold, paving the way for recovery. Currently, the price of gold is stable around $2,335, with short-term forecasts still optimistic towards buying pressure. Prospects are aimed at the psychological milestone of $2,400, reflecting confidence in the market's growth potential in the near future.
OANDA:XAUUSD
by Stephen_Anders
8
Gold Price Update Today: Short-Term Price Increase OutlookThe price of gold surged to nearly $2,320 at the start of Thursday, indicating a slight recovery in the market after previous challenging periods. However, upon examining the 4-hour chart, it's evident that the potential for price increase remains limited. The Simple Moving Average SMA 20 is trending below the Simple Moving Average SMA 100, signaling unclear direction in the market. Overall, gold is grappling with continuous challenges and fluctuations. Thorough analysis and monitoring of market news are essential for making sound and effective trading decisions.
OANDA:XAUUSD
by Stephen_Anders
10
US GDP Surge Spurs USD Recovery, GBP/USD Retreats Below Key The GBP/USD slid below 1.2500, wiping out much of its daily gains, as the US Dollar staged a robust recovery following the release of the US Gross Domestic Product (GDP) report for Q1, which indicated a sharp increase in inflation. The preliminary GDP index surged by 3.1%, compared to the previous 1.7%. This has fueled expectations that the Federal Reserve will maintain interest rates at restrained levels for a longer period. When looking at the 4-hour chart, we observe a retracement towards the downtrend. Anticipated that the price will continue to gravitate towards the 0.5-0.618 Fibonacci retracement zone. In the context where technical indicators persist in supporting the downward momentum, the price is likely to continue its descent towards the support area at 1.2300.
by Stephen_Anders
Technical Analysis: GBP/USD Increase OutlookGBP/USD has attracted attention with a strong recovery, surpassing the 1.2500 threshold during the European trading session. This currency pair capitalizes on expectations of improvement in the UK's economic outlook and the decline of the US Dollar. Looking at the chart, we can see that the price is supported by the upward trend but still constrained by the SMA 100. It is anticipated to decrease towards the support level near the SMA 20 and SMA 50 before continuing its upward trajectory.
by Daisy_Anna
EUR/USD Maintains Steady Upward Trend Amid Softening USDEUR/USD maintains an upward channel oscillating around the 1.0700 level. The weakening strength of the USD is gradually paving the way for a gentle rise in this currency pair. From a technical standpoint, we observe that EUR/USD continues to hold above the simple moving averages (SMA), while the relative strength index (RSI) remains around the 60 mark, indicating stability in the upward trend. Expectations for further price increases in this pair will encounter a resistance level at 1.0714, potentially shaping the trajectory of its future upward movement.
by Daisy_Anna
Gold Stability Amidst Rising US YieldsGold remains stable amidst a downward trend, given the backdrop of rising US yields. Reduced tensions in the Middle East contribute to market stability, albeit dampening the demand for gold. Looking at the one-hour chart, it's evident that gold's potential for price appreciation is still constrained. The Relative Strength Index (RSI) has solidified around the 40 mark, indicating a significant decline in upward momentum within the downtrend. Furthermore, the formation of a triple top pattern along with substantial price declines also signals a clear phase of market weakness.
OANDA:XAUUSD
by Daisy_Anna
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LINK/USDT 4hInterval CHARTHello everyone, let's look at the 4H LINK to USDT chart as we can see that the price is moving below the local downtrend line. Let's start by setting goals for the near future that we can include: T1 = $15.22 - $16.25 T2 = $17.33 T3 = $18.81 AND T4 = $20.72 Now let's move on to the stop-loss in case of further market declines: SL1 = $14.46 SL2 = $13.45 AND SL3 = $12.74 - $11.82 Looking at the RSI indicator, we can see that small price movements returned the indicator to the lower part of the range, while the STOCH indicator returned to the lower limit, which may affect the current stop of the correction.
by cryptodailyuk
BTC/USDT 4H Will the correction stop?Hello everyone, let's take a look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price remains in a downtrend channel, in the middle of the range. As we can see, from the drop to the level of around $60,000, the price rebounded to the level of 0.618FIB, at which we can see the current recovery, and the previously mentioned level of $66,987 is again the first significant resistance. Next, the price must overcome the resistance at $69,049, and then it faces an important zone that successfully maintained further upward movement. Looking at the ongoing recovery, you can see that the price is retreating and currently the first important support is at the level of $62,280, then the important level is $59,208, and then around $57,000 and $54,000. Looking at the RSI indicator, you can see that it is based on the local upward trend line, which may stop the current recovery, but the STOCH indicator shows a descent to the lower border, which can also help stop the current downward movement.
by cryptodailyuk
Technical Analysis: Bullish Outlook for USD/JPY Still ContinuesUSD/JPY is currently at multi-decade highs, closing at 155.00. Traders are exercising caution due to increased risks stemming from Japan's forex intervention. The recovery of the US dollar (USD) is bolstering the upward momentum of USD/JPY. From a technical standpoint, the pair is trading above the Simple Moving Averages (SMA), indicating a stable uptrend. However, there are signs of a corrective move, with prices expected to test the 0.5-0.618 Fibonacci retracement levels before resuming a strong upward trajectory
by Stephen_Anders