MATIC/USDT 1DAY UPDATE BY CRYPTO SANDERSHello, welcome to this MATIC/USDT 1DAY chart update by CRYPTO SANDERS.
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CHART ANALYSIS:-Polygon (MATIC)
Polygon should consider itself lucky despite losing 4.8% of its valuation in the past week, particularly when compared to ADA or SOL. This is because, at 75 cents currently, MATIC managed to stay far away from its yearly low in June when the price fell to 32 cents.
Nevertheless, pressure is building up as buyers appear to be on the defensive again, trying to keep the cryptocurrency above the key support at $0.74. The price action also shows that a decisive move appears imminent.
Looking ahead, repeated tests of the key support at $0.74 could be interpreted as bearish. If bulls fail to hold here, it would open the way for sellers to take MATIC back toward its June levels in the first half of 2023.
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XRP/USDT 1DAY UPDATE BY CRYPTO SANDERSHello, welcome to this XRP/USD 1DAY chart update by CRYPTO SANDERS.
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CHART ANALYSIS:-
Ripple (XRP)
This past week, XRP had a good attempt at breaking the key resistance at $0.36 but was swiftly rejected by the bears. For this reason, the price fell by 3.4%, and XRP is now found just above the support at $0.33.
Should buyers hold here, then it’s likely that XRP moves sideways between the key levels. However, any weakness could quickly be exploited by sellers that could push the price back to $0.30, which is a critical support that must hold.
If buyers fail to stop this downtrend, then this cryptocurrency will quickly find itself in a precarious situation, particularly if it loses its support at $0.30. That would open the path to lower lows in 2023, which would make the new year start with a bearish price action.
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BTC/USDT 4HOUR UPDATEHello, welcome to this BTC /USDT chart update by CRYPTO SANDERS.
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CHART ANALYSIS:-Bitcoin bounced from the trendline support. The channel is working fine and the trading range continues. There is no volume in the market. The market is giving time to enjoy the new year's eve party. Let's see what the new year brings for crypto.
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BTC/USDT 4HOUR UPDATEHello, welcome to this BTC /USDT chart update by CRYPTOSANDERS.
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CHART ANALYSIS:-BTC is holding above the ascending trendline support on 8h TF. RSI is in the oversold region and also holding above the trendline support.
The volume is low here and for the confirmation of bullish momentum back in the market, bulls need a solid breakout of the horizontal resistance, where MA100 and 50% retracement level are also acting as resistance.
A sustained breakdown of the ascending trendline support would confirm a downward move toward the horizontal support from where we could expect a bounce back in the market.
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BTC/USDT 2HOUR UPDATEHello, welcome to this BTC /USDT chart update by CRYPTOSANDERS.
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CHART ANALYSIS:-
BTC took a sharp correction after the breakdown of the ascending triangle. Now it has cleared stops below the previous low and bouncing from the horizontal support.
A bounce is expected from here, but a strong confirmation of bullish momentum in the market is a solid close above $17K. If it breakdown the current horizontal support, we will see a further downward move in the market.
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BTC/USDT 4HOUR UPDATEHello, welcome to this BTC /USDT chart update by CRYPTOSANDERS.
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CHART ANALYSIS:- BTC effectively breakdown the ascending triangle following the downward move. As of now, it is holding over the marked low of $16,559.
If bulls won't show strength here, then the downward move will continue toward the horizontal support or the lower marked strong low support.
For the bullish confirmation, bulls need to break out the horizontal resistance around $16,940 with a retest above it to confirm a decent bullish rally in the market.
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ETH/USD 1DAY UPDATE BY CRYPTO SANDERSHello, welcome to this ETH /USD 1DAY chart update by CRYPTOSANDERS.
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CHART ANALYSIS:-Ethereum (ETH) mostly consolidated on Monday, with prices continuing to trade below the $1,230 point.
Following a low of $1,203.72 on Christmas Day, ETH/USD raced to a peak of $1,222.61 earlier in today’s session.
As a result of today’s move, ethereum continued to trade below its key resistance level of $1,230 for a sixth straight day.
Looking at the chart, the failure to break out of this point comes as the RSI continued to hover near a resistance of its own at 48.00
As of writing, the index is tracking at 47.33, which comes after two weeks of residing under the 48.00 mark.
Despite this, the 10-day (red) moving average (MA) has begun to move closer to its 25-day (blue) counterpart, which could mean an upward cross is pending in the coming days.
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BTC/USD 1DAY UPDATE BY CRYPTO SANDERSHello, welcome to this BTC /USD 1DAY chart update by CRYPTOSANDERS.
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CHART ANALYSIS:- Bitcoin (BTC) remained slightly above a ceiling at the $16,800 level to start the week, as markets remained mostly unchanged following the Christmas weekend.
Trading volume typically slows down during the holiday period, with most financial markets shutting down.
Cryptocurrency markets however remained open, with BTC/USD moving closer to recapturing the $17,000 level.
As can be seen from the chart, Bitcoin hit a high of $16,908.86 earlier in today’s session, which is marginally above Sunday’s low of $16,755.25.
The move comes as the 14-day relative strength index (RSI) moved closer to a key ceiling at 49.00.
Currently, the index is tracking at the 47.55 mark, with bulls likely to continue to push toward the aforementioned resistance level.
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BTC/USDT 4HOUR UPDATEHello, welcome to this BTC /USDT chart update by CRYPTOSANDERS.
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CHART ANALYSIS:- BTCThe current lack of activity and low volatility is more evident on the following 4-hour timeframe chart. After going through a long-lasting downtrend, the price has rebounded from the $16K mark and is consolidating below the $17K threshold. However, the main struggle for Bitcoin is now surpassing this confluence zone.
Suppose the price returns above the mentioned level, a retracement to the 0.618 Fib level and the broken trendline will be the main barriers toward the $18K range.
Bitcoin is taking support at the minor uptrend line. There is no movement in the market and BTC is trading at the resistance. Let’s see if BTC is able to break this resistance zone. We may see a big move on either side soon.
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BTC/USD 1DAY UPDATE BY CRYPTO SANDERSHello, welcome to this BTC /USD 1DAY chart update by CRYPTOSANDERS.
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CHART ANALYSIS:-BTC was once again in consolidation on Friday, as markets continued to react to the latest U.S. Q3 GDP figures.
Following a low of $16,592.41 on Thursday, BTC/USD was marginally higher, with prices rising to a peak of $16,880.87 in today’s session.
The surge in price pushed BTC above a key resistance point of $16,800, as bulls once again attempted to recapture the $17,000 mark.
As can be seen from the chart, recent price uncertainty comes as the 14-day relative strength index (RSI) remains close to a floor of 45.00.
Sentiment also seems uncertain following a recent crossover between the red 10-day moving average, and its 25-day (blue) counterpart.
If this downward trend continues, we could see BTC trading near $16,000 during the Christmas weekend.
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ETH/USD 1DAY UPDATE BY CRYPTO SANDERSHello, welcome to this ETH /USD 1DAY chart update by CRYPTOSANDERS.
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CHART ANALYSIS:-Ethereum (ETH) was marginally higher at the end of the week, as prices moved closer to a key resistance level earlier today.
ETH/USD raced to an intraday peak of $1,224.21 in Friday’s session, less than 24 hours after hovering at $1,187.13.
Today’s move sees ETH bulls once again try to break out of the long-term resistance level of $1,230.
Looking at the chart, the 14-day RSI is now rallying above a resistance point at 47.00, and tracking at 47.92, with the next visible ceiling at 52.00
In order for bulls to continue to push ethereum higher, price strength will likely need to surge toward this upcoming resistance of 52.00.
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BTC/USDT 12Hr UPDATE BY CRYPTO SANDERSHello, welcome to this BTC /USDT 1DAY chart update by CRYPTOSANDERS.
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CHART ANALYSIS:-BTC bounced back after clearing the short-term downside liquidity. It is also forming an inverse head and should pattern on smaller time frames.
Currently, it is facing MA21 resistance, and a breakout of it will confirm a move toward the horizontal resistance. For mid-term bullish confirmation, bulls need to clear Ichimoku clouds, which would ensure a trend reversal in the market.
Bitcoin is unable to break the resistance area. This seems to be a rejection and the price is again testing the resistance area. Altcoins are showing some positive movement and we may see more upward trend if BTC remains stable in the range.
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ETH/USD 1DAY UPDATE BY CRYPTO SANDERSHello, welcome to this ETH /USD 1DAY chart update by CRYPTOSANDERS.
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CHART ANALYSIS:-Ethereum (ETH)also consolidated in today’s session, with bulls managing to keep prices above the $1,200 level.
Following a low of $1,208.03 in Tuesday’s session, ETH/USD was marginally higher on Thursday, as it rose to a peak of $1,219.61.
The move sees the world’s second-largest cryptocurrency continue to be a stone’s throw away from a ceiling at $1,230.
Despite the prospect of higher highs, overall momentum seems relatively bearish, with the 10-day (red) moving average extending a crossover with its 25-day (blue) counterpart.
As can be deduced from the chart, the RSI also looks set for a downtrend, as it failed to break out of its current ceiling at 47.00
In order for bullish sentiment to return, it is likely that a move beyond this resistance will need to take place.
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ETH/USD 1DAY UPDATE BY CRYPTO SANDERSHello, welcome to this ETH /USD 1DAY chart update by CRYPTOSANDERS.
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CHART ANALYSIS:-Ethereum (ETH) continued to trade above $1,200 on Wednesday, with bulls pushing prices closer to a key resistance level.
ETH/USD hit a peak of $1,224.09 earlier in today’s session, which comes less than 24 hours after hitting a bottom of $1,206.44.
Despite prices nearing a ceiling at the $1,230 mark earlier in the day, bearish sentiment has increased at this level, leading to previous bulls retreating.
As of writing, the world’s second-largest cryptocurrency is trading at $1,214.44, which comes following a recent crossover of moving averages.
Looking at the chart, a downward cross between the 10-day (red) and 25-day (blue) moving averages has occurred, which typically is a sign of pending declines.
Should this momentum intensify in the coming days, ETH could likely move back toward a floor of $1,160.
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BTC/USD 1DAY UPDATE BY CRYPTO SANDERSHello, welcome to this BTC /USD 1DAY chart update by CRYPTOSANDERS.
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CHART ANALYSIS:-Bitcoin ( BTC )continued to consolidate ahead of this afternoon’s third quarter GDP data from the United States.
This afternoon’s figures are expected to show growth of 2.9% in the quarter, as inflation in the U.S. began to slow down.
BTC/USD hit a high of $16,895.71 ahead of the data release, which is marginally higher than Wednesday’s bottom at $16,755.91.
Looking at the chart, today’s consolidation comes as the 14-day relative strength index (RSI) continued to hover near a support point at 46.00.
As of writing, the index is tracking at the 46.49 level and could be set to break out of this point at any moment.
Should this occur, bearish sentiment will likely return to the market, with prices heading toward $16,500.
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BTC/USDT 1DAY UPDATE BY CRYPTO SANDERSHello, welcome to this BTC /USDT 1DAY chart update by CRYPTOSANDERS.
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CHART ANALYSIS:-Bitcoin (BTC) rose briefly above the $17,000 level on Wednesday, as markets began to anticipate the release of the upcoming U.S. consumer confidence report.
Following a low of $16,763.66 on Tuesday, BTC/USD raced to an intraday high of $17,012.98 earlier in today’s session.
Today’s surge comes as prices once again rose above a key resistance level at the $16,800 level.
Looking at the chart, BTC has moved away from earlier highs, with the coin currently trading at the $16,868.40 mark.
This comes despite the 14-day relative strength index (RSI) failing to break out of a recent ceiling at 49.00.
As of writing, the index is tracking at the 47.03 level and seems to be heading for a floor at 46.00.
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BTC/USDT 1DAY UPDATE BY CRYPTO SANDERSHello, welcome to this BTC/USDT 1DAY chart update by CRYPTOSANDERS.
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CHART ANALYSIS:-Bitcoin (BTC) moved closer to the $17,000 level on Tuesday, as traders reacted to the latest Bank of Japan policy decision.
BTC/USD surged to a peak of $16,837.65 earlier in today’s session, less than 24 hours after hitting a low of $16,398.14.
Today’s move saw the token climb above a key resistance level of $16,700, with prices rising to a four-day high in the process.
Looking at the chart, the surge took place as the 14-day relative strength index (RSI) broke out of a ceiling at the 46.00 level.
As of writing, the index is currently tracking at the 46.61 mark, which is its strongest point since last Thursday.
Should the index continue this upward trend, we will likely see BTC move above the $17,000 level in the coming days.
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#BTC/USDT 6Hr UPDATE BY CRYPTO SANDERS Hello, welcome to this BTC /USDT 6Hr chart update by CRYPTOSANDERS.
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CHART ANALYSIS:- BTC bounced back with a decent stable volume after clearing stops below the order block. Now it is facing mid-range resistance.
A reclaim over the mid-range with a retest above it would confirm a decent bullish rally in the market.
If it rejects from here, a downward move is expected toward the horizontal support of $16K, and from where we could expect an upward direction in the market.
Bitcoin is again testing the resistance area. Let’s wait to see if BTC is able to break the resistance area. There is no clear direction and we may see more sideways movement. The market needs big positive news to break the resistance levels.
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ETH/USDT 1DAY UPDATE BY CRYPTO SANDERSHello, welcome to this ETH /USDT 1DAY chart update by CRYPTOSANDERS.
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CHART ANALYSIS:-ethereum (ETH) also trended higher on Tuesday, as it once again rose into the $1,200 region.
Following a low of $1,160.38 to start the week, ETH/USD raced to a peak of $1,214.73 earlier in the day.
This comes despite the fact that there has been a recent downward crossover between the 10-day (red) and 25-day (blue) moving averages.
As of writing, the world’s second largest cryptocurrency seems set to collide with a higher resistance at the $1,230 level.
This could prove to be challenging however, with the 14-day RSI now hovering directly below a ceiling at 47.00.
Should there be a break of this key threshold, we will likely see more ETH bulls reenter the market.
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#XRP/USD 4Hr UPDATE BY CRYPTO SANDERS Hello, welcome to this XRP/USD 4Hr chart update by CRYPTO SANDERS.
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CHART ANALYSIS:-The large bearish flag was broken to the downside earlier, and the price has been declining as a result.
From a classical price action standpoint, a retest of the $0.3 support level looks imminent. However, the RSI indicator is currently showcasing a clear bullish divergence in this timeframe. This could hint at a probable pullback toward the lower trendline of the pattern in the short term.
Whether this pullback occurs or not remains to be seen, but the bearish momentum and the overall market structure both increase the likelihood of a drop-down to the $0.3 level in the near future.
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MATIC/USDT 1DAY UPDATE BY @CRYPTOSANDERSHello, welcome to this MATIC/USDT 1DAY chart update by CRYPTO SANDERS.
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CHART ANALYSIS:-Polygon (MATIC) was another notable token to fall today, with prices also moving lower for a third straight day.
Following a high of $0.891 on Thursday, MATIC/USD dropped to a bottom of $0.8483 earlier in the day.
As a result of this drop, the polygon moved to its lowest point since November 30, when prices hit a bottom of $0.837
MATIC has since rebounded from earlier lows and is currently trading at $0.8569, which is still nearly 4% lower than Thursday’s floor.
This slight rebound comes as the RSI rejected a breakout of a point of support at the 43.00 level, and the index is currently at the 44.26 mark.
Historically, bulls have used this floor as a point of reentry, and should this reoccur, then we could see MATIC move back toward the $0.90 level.
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ADA/USD 1DAY UPDATE BY CRYPTOSANDERSHello, welcome to this ADA /USDT 1DAY chart update by CRYPTOSANDERS.
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CHART ANALYSIS:-Cardano (ADA) hit an all-time low in today’s session, as sentiment in cryptocurrency markets remains bearish, following recent economic data.
ADA/USD dropped to an intraday low of $0.2845 earlier in today’s session, less than a day after trading at $0.3026.
Today’s sell-off comes as cardano fell for a third straight session, breaking out of a key support point in the process.
Looking at the chart, the aforementioned floor is at the $0.3000 mark, which was broken once before, on November 21.
The 14-day relative strength index (RSI) also moved below a floor of 35.50, and as of writing is tracking at 30.91.
This is the lowest point the index has hit since October 22, with prices hitting a bottom of $0.3100 on that occasion.
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Unique Update Of EthereumHello, welcome to this ETH /USD 1DAY chart update by CRYPTOSANDERS.
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CHART ANALYSIS:-Ethereum (ETH) was also lower on Friday, as the world’s second-largest cryptocurrency fell closer to the $1,200 mark.
ETH/USD hit a bottom of $1,210.35 earlier in the day, which comes after trading at a high of $1,291.32 on Thursday.
Today’s drop sees ethereum move lower for a third consecutive session, breaking out of a key resistance level of $1,230 in the process.
As of writing, ETH is nearly 5% lower than yesterday’s peak, with the RSI tracking at 43.50, which is near a key floor.
This point of support is at the 42.00 mark and hasn’t been reached since November 28, when ETH was below $1,200.
Should price strength continue to head toward this bottom, there is a strong possibility that ethereum will be trading under $1,200.
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