Get started

Usdt

TECHNICAL ANALYISIS WITH TRADE PLAN ETH /USDT ON 1H TIMEFRAME BIAscending Channel: The chart shows Ethereum moving within an ascending channel, which generally indicates a bullish trend. The price recently broke below the ascending channel, suggesting a potential correction. Support and Resistance Levels: Support levels are identified around 3,300 and 3,200 USDT. Resistance levels are around 3,400 and 3,600 USDT. Indicators: VMC Cipher B Divergences: Mixed signals with some bearish and bullish divergences. The current state suggests a bearish divergence. RSI (Relative Strength Index): Currently at 49.51, indicating a neutral position. No clear overbought or oversold condition. Stochastic RSI: Shows an oversold condition with a value of 17.22, which might indicate a potential buying opportunity soon. Trading Plan: Intraday Trading: Entry: Look for long positions if the price shows a strong support bounce around 3,300 USDT. Exit: Target the first resistance level around 3,400 USDT. Stop Loss: Place a stop loss slightly below the support level at 3,280 USDT. Strategy: Monitor shorter time frames (e.g., 15-minute chart) for bullish candlestick patterns or momentum indicators turning positive before entering. Scalping: Entry: Enter long positions at support levels identified on the 5-minute chart, especially if there is a double bottom or strong reversal pattern. Exit: Quick profits at minor resistance levels or key moving averages on the same chart. Stop Loss: Tight stop loss just below the immediate support levels, such as 3,290 USDT. Strategy: Use high-frequency trades to capitalize on small price movements, considering both support and resistance levels. Swing Trading: Entry: Consider entering long positions if the price bounces from 3,300 USDT support level, confirming a reversal. Exit: Aim for the resistance level around 3,600 USDT. Stop Loss: Place a stop loss around 3,200 USDT to protect against deeper corrections. Strategy: Hold the position for a few days to a week, allowing the trade to develop. Use the daily chart to identify entry and exit points. My advice: Long Position: Favor long positions at current levels, given the oversold conditions on the Stochastic RSI and the presence of support around 3,300 USDT. Watch for a confirmed reversal signal before entering. Short Position: Consider short positions if the price fails to hold the 3,300 USDT level and breaks lower, aiming for the next support at 3,200 USDT. Risk Management: Always use stop losses to manage risk and protect capital. Adjust stop loss levels according to the volatility and trade timeframe. Overall, the current technical setup suggests a cautious long bias, waiting for confirmation of support holding and potential reversal signals before entering trades.
Long
by elfabiiani
Technical Analysis for Bitcoin (BTC/USDT) 1h chart on Binance.Hello! I will make today, a techical analysis of price action, indicators and price projection with trade plans. Price Action: Bitcoin appears to be in a channel up formation recently and has just broken out to the downside. Volume: The volume profile indicates a decline, suggesting a potential lack of buying interest at current levels. Indicators Analysis: VMC Cipher B + Divergences: Shows a downward momentum with red dots appearing at the recent peaks indicating bearish divergence. RSI (Relative Strength Index): Currently at 50.06, moving slightly downward. This neutral reading suggests there is no strong momentum either way, but the recent trend is slightly bearish. Stochastic Oscillator: Shows a downward movement with the current reading at 37.36, indicating a bearish crossover in the lower half of the range which suggests potential further downside. Price Projection: The chart suggests a possible downward movement before a significant bounce. The projected path indicates a drop followed by a strong upward trajectory. Trading Plans Intraday Trading: Strategy: Focus on short-term momentum and volatility. Entry Point: Look for short positions if price breaks below the recent low around $61,553.95 with significant volume. Stop Loss: Place a stop loss just above the recent high of the breakout channel, approximately $61,800. Target: Aim for quick scalps in the range of $61,300 to $61,000 for intraday trades. Consider taking profits incrementally. Scalping: Strategy: Use smaller timeframes (1-minute to 5-minute charts) to capture quick price movements. Entry Point: Enter short positions on bearish confirmation patterns such as breakouts from consolidation patterns or failed retests of resistance. Stop Loss: Tight stop losses around $100 above the entry point to minimize risk. Target: Look for quick profits in the range of $50-$150 per trade. Swing Trading: Strategy: Take advantage of the larger projected move. Entry Point: Wait for the price to reach the anticipated lower level (around $60,000) as per the chart projection and show signs of reversal (e.g., bullish candlestick patterns, divergence in indicators). Stop Loss: Set a stop loss below the key support level around $59,500 to protect against further downside. Target: Aim for the upper projected target in the chart, around $68,000 to $70,000 for a higher reward-to-risk ratio. Conclusion and Advice: Short-Term (Intraday/Scalping): The current bearish indicators suggest short positions could be profitable. However, due to the overall market volatility, ensure tight risk management. Long-Term (Swing Trading): There is potential for a significant upside after a possible near-term dip. Consider waiting for confirmation of reversal patterns at lower levels before entering long positions. Advice: For short-term traders, focus on short positions until the projected bottom is confirmed. For long-term traders, look for buying opportunities at the lower levels indicated in the chart, aligning with the projected path. Note: Always ensure proper risk management and use trailing stops to lock in profits while mitigating losses. Market conditions can change rapidly, and it's important to adapt to new information as it becomes available.
Long
by elfabiiani
Bitcoin: Moment Of Truth For Bulls! Inverse Head & ShoulderTwo weeks ago I made an analysis where I discussed a potential short-term bearish view on Bitcoin's price, see below. I argued that if I were a bull, I'd wait for either a new all-time high break out or a sizeable correction before stepping in the market again. As seen on the chart, my purple support line is holding (for now!). A reversal from this area would make it a perfect inverse head & shoulders pattern, which is a bullish reversal pattern. To strengthen my short-term bullish view, Bitcoin's daily RSI has hit oversold for the first time since August 2023, 10 months ago! Patient bulls have been waiting for a long time for the RSI to hit oversold again on the daily. Whether it will be enough remains to be seen. However, I can clearly see that there's a great bullish short-term opportunity here. See signal on the chart. Be aware, it's a risky trade.
Long
by FieryTrading
18
MASA SHOWS SINGALS OF BREAK IN THE COMING TIME $0,15MASA is an interesting trend we're watching time by time. We think there's a good chance this coin will rise and could potentially reach $0.15. Over the long term, it might show even more positive results. We expect this because the latest data shows growing interest and increased trading volume. Recently, the coin had a dip, but now it looks like it's starting to go up again. We'll keep an eye on this coin for two main targets: $0.09 $0.15 Let's see what impact this coin will have. more updates here below with new time frames. The chart shows an example of how a target could go to the end price action, but it does not thats it should go the same way. we know that sometimes a break needs confirmation time. not every coin can become successful for a trader, but a good trader follows the coin that has the most chance to increase and break in that time frames. Like and follow for more. The best trades for everyone!
Long
by SatochiTrader
ZCX - Excellent Support holding - Expecting Pump soon#ZCX #Analysis Description --------------------------------------------------------------- + Price is heading towards the strong support zone, this support held for long time + Expecting the price to bounce back after hitting this support zone + You can enter the position now, or when it hits the support. + SL is below the support line --------------------------------------------------------------- VectorAlgo Trade Details ------------------------------ Entry Price: 0.16518 Stop Loss: 0.10819 ------------------------------ Target 1: 0.20471 Target 2: 0.25980 Target 3: 0.34376 Target 4: 0.46859 Target 5: 0.61632 Target 6: 0.91315 Target 7: 1.52410 ------------------------------ Timeframe: 1W Capital Risk: 1-2% of trading amount Leverage: 5-10x --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Feel free to share your thoughts and insights. Don't forget to like and follow us for more trading ideas and discussions. Best Regards, VectorAlgo
Long
by VectorAlgo
2
SUIUSDT.1DAs of today, the SUI/USDT pair presents an intriguing landscape in the crypto market. On the daily timeframe, we've observed a significant downtrend that has been in play since the peak in early May. The current price stands at $0.899, reflecting a recent decline indicated by the red candles dominating the chart. Key Support and Resistance Levels: Resistance 1 (R1): $1.0031 - This level previously acted as support during early June but has since transformed into a resistance zone. Resistance 2 (R2): $1.1984 - A critical high point that was last tested in late April and remains a significant upper barrier. Support 1 (S1): $0.7641 - The current chart displays this as a pivotal support level that could dictate short-term movements. Technical Indicators: MACD: The Moving Average Convergence Divergence (MACD) is trending below the signal line, illustrating bearish momentum. The negative histogram values further validate this sentiment. RSI: The Relative Strength Index (RSI) sits around 39, indicating a bearish momentum but not yet in the oversold territory, suggesting that there could still be room for downward movement. Analysis Conclusion: Given the prevailing market conditions, where bearish signals dominate both from price action and technical indicators, I am inclined to maintain a cautious stance. While the current support at $0.7641 may offer temporary relief, the resistance at $1.0031 and $1.1984 poses significant hurdles for any bullish recovery. Investors and traders should monitor these levels closely. A breach below the current support could lead to further declines, whereas a push above the first resistance might signal a potential shift in momentum. Always consider market news and broader economic factors that could influence price actions significantly.
Long
by MarsSignals
CREAMUSDT.1DThe CREAM/USDT pair currently trades at $69.75, showing significant volatility in recent months. The daily chart highlights a series of fluctuations, with current pricing pressures suggesting a bearish sentiment. Key Support and Resistance Levels: Resistance 1 (R1): $55.09 - This level is critical as it has previously served as a strong resistance point. The price is currently below this level, which might continue to act as a ceiling in the short term. Resistance 2 (R2): $103.92 - This is the highest recent resistance level, significantly above the current price, suggesting a strong upward move would be needed to test this. Support 1 (S1): $39.37 - Currently, this support level is crucial. If the price drops below this, it could indicate a significant bearish trend. Support 2 (S2): The chart shows a support around $27.70, indicating a lower boundary set during the recent lows. Technical Indicators: MACD: The MACD line is below the signal line, and both are trending downward below the zero line, indicating strong bearish momentum. RSI: The Relative Strength Index is approximately at 49, suggesting a neutral position. However, its proximity to the oversold territory indicates potential volatility and downside risk. Analysis Conclusion: The CREAM/USDT market shows signs of stress with a potential bearish bias as indicated by the prevailing lower highs and the MACD configuration. The critical support at $39.37 will be vital to watch in the coming days. A break below this level could lead to further declines, testing the $27.70 support zone. Given the current market setup and the resistance at $55.09 acting as a near-term ceiling, my outlook remains cautious. Traders should prepare for potential volatility with a close watch on the indicated support and resistance levels. A breach above the immediate resistance at $55.09 could alter the bearish outlook, suggesting a reevaluation of the current trading strategy.
Long
by MarsSignals
SHIBUSDT.1DThe SHIB/USDT pair, as shown on the daily chart, trades at $0.00001655, demonstrating a significant bearish trend with a recent decline in value by approximately 5.59%. The trading environment has been largely bearish over the past months, following a failed breakout above earlier resistance levels. Key Support and Resistance Levels: Resistance 1 (R1): $0.00002155 - This level marks a recent high that SHIB failed to surpass, forming a clear resistance zone. Support 1 (S1): $0.00001413 - This is a critical support level where previous lows have converged, potentially serving as a stabilization point if bearish momentum continues. Technical Indicators: MACD: The Moving Average Convergence Divergence (MACD) is currently below the signal line and has moved into negative territory, indicating increasing bearish momentum. RSI: The Relative Strength Index (RSI) is at 31.71, nearing the oversold territory, which may suggest that SHIB is under substantial selling pressure but could also indicate a potential reversal if it moves further into oversold conditions. Analysis Conclusion: The current technical setup suggests that SHIB is experiencing strong bearish pressure, with the potential for further downside if it breaks below the support level at $0.00001413. The proximity of RSI to the oversold region might slow down the selling momentum, possibly leading to a short-term bounce or consolidation. However, unless SHIB can reclaim higher levels above the current resistance at $0.00002155, the overall market sentiment remains bearish. Investors should watch for any movement that breaks out of the current trading range as a signal for potential trend reversals or continuations. Given the negative momentum indicated by the MACD and the critical support levels outlined, the strategy should be cautious, prioritizing risk management and staying alert for any signs of a change in market dynamics.
by MarsSignals
BTCUSDT.1DThe current trading price of Bitcoin against USDT is $60,021.58, reflecting a recent decline of approximately 5.04%. The chart displays a complex scenario with multiple key technical levels. Key Support and Resistance Levels: Resistance 1 (R1): $67,117.47 - This level represents a significant resistance, which Bitcoin struggled to overcome in recent attempts. Resistance 2 (R2): Not marked on the chart, but it would likely be above $67,117.47, possibly near the previous highs. Support 1 (S1): $56,715.39 - This level has previously acted as both support and resistance, making it a crucial point for traders to watch. Support 2 (S2): Not clearly marked but indicated by previous lows below $56,715.39, possibly around $50,000. Technical Indicators: MACD: The Moving Average Convergence Divergence (MACD) is below the signal line, indicating bearish momentum. The separation between the MACD line and the signal line is increasing, suggesting strengthening bearish pressure. RSI: The Relative Strength Index (RSI) is at 30.58, just above the oversold territory. This indicates that Bitcoin is very close to being oversold, which could potentially lead to a rebound or at least a stabilization of price declines. Analysis Conclusion: The current technical landscape for BTC/USDT is cautiously bearish. The recent price action beneath key resistance levels and the bearish indications from both the MACD and RSI suggest potential further downside. However, the proximity of the RSI to oversold conditions may limit the downside risk and could signal a possible buying opportunity if other market conditions align. Traders should closely monitor the $56,715.39 support level, as a break below this could open the door to lower prices, potentially around the $50,000 mark. Conversely, a rebound from this support or an RSI recovery above the oversold region could suggest short-term bullish opportunities, particularly if Bitcoin can challenge and break above the $67,117.47 resistance.
Long
by MarsSignals
BITCOIN - Price can start to grow to resistance line of channelHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Some days ago price broke $66600 level and entered to flat, where it soon reached top part, which coincided with $71500 level. Then price made correction, after which in a short time, it rose back to $71500 level, turned around, and started to decline. BTC exited from flat and continued to decline inside falling channel, where later it broke $66600 level. After this movement, price some time traded in resistance area and then bounced down to support line of channel. At the moment, BTC trades near this line and I think that price can fall to this line again and then bounce up to $64200 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
BTCUSDThe cryptocurrency market capitalization has increased by 1.2% to $2.56 trillion. Bitcoin's gain contrasts sharply with the declines seen in altcoins. Ethereum rose by 1.3%. The main upward momentum occurred during the Asian morning session. As of this writing, Bitcoin's price appears to have moved away from extremes. Nonetheless, the latest momentum indicates that bears still dominate the cryptocurrency market. Bitcoin earlier fell to $64,041, the lowest level since May 15. Bitcoin has been on a downward trend for the past 12 days, significantly breaking below the 50-day SMA and the 76.4% Fibonacci retracement level of the January to March gains. Due to a shift in market sentiment, the crypto market has suffered significant losses over the past two weeks; however, it has not relinquished key support levels, showing signs of being undervalued. The Market Value to Realized Value (MVRV) indicator over a 30-day period indicates bullish signs for these assets. on technical side Bitcoin's price has dropped from around $67,300 to the support level of $64,041, forming a bullish "inverse head-and-shoulders" pattern. The observed uptrend today has broken through the channel's midline and the "neckline" of the aforementioned pattern. Therefore, from a technical analysis perspective, it can be reasonably argued that bulls are taking control by leveraging support levels. The RSI and oscillators support the rebound. The lower low formed on June 18 was not reflected in higher highs during the same period. This development, known as bullish divergence, typically leads to a trend reversal or short-term rebound. If the bulls are active and the overall outlook for the cryptocurrency market is optimistic, Bitcoin's price could increase by 6% to the previous resistance level of $71,280. In a negative scenario, a decline from current levels below the previous point of $64,041 poses further downside risks. Like us for more such updates. Boost us to help reach more people.
BITSTAMP:BTCUSDLong
by realmillionairefx
HelenP. I Bitcoin will rebound from trend line and continue fallHi folks today I'm prepared for you Bitcoin analytics. Not long ago, the price traded below resistance 2, which coincided with the resistance zone, and later finally reached this level and broke it. After this movement, the price rose higher than the resistance zone and reached the trend line, after which BTC turned around and in a short time declined below resistance 2, breaking it one more time. Next, the price some time traded near this level and even made a correction to 66000 points, but then rebounded back to resistance 2. Then Bitcoin continued to decline and quickly fell to resistance 1, which coincided with one more resistance zone. Price some time traded near this level and later BTC broke it too and a not long time ago price fell lower than the resistance zone. Now, the price trades very close to this area, so, for my mind, BTCUSDT will reach the trend line, which coincides with the resistance level, and then continue to decline. That's why I set my goal at 62000 points. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
HelenP. I Bitcoin can break support level and fall to trend lineHi folks today I'm prepared for you Bitcoin analytics. If we look at the chart, we can see how the price rebounded from support 1, which coincided with the resistance zone, and in a short time declined to support 2. Soon, BTC broke this level, which coincided with the support zone, after which it declined to the trend line. Then the price turned around and quickly rose back to support 2, broke it one more time, and rose alsmot to support 1, after which fell back to support 2. Bitcoin some time traded near this level and later it rebounded up and started to grow near the trend line. Later price some time traded between this line and then made impulse up to the resistance zone, thereby breaking support 1. At the moment, the price continues to trades in the resistance area, so, I expect that Bitcoin will break the support level and continue to decline to the trend line. That's why I set my target at 63800 points, which coincided with this line. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
9
SUIUSDT.1DIn this technical analysis of the SUI/USDT daily chart, I'll examine the latest price movements and key technical indicators to forecast potential future trends. Key Observations: Current Price and Movement: SUI/USDT is currently trading at $0.8989, showing a decline of 2.30% for the day. This suggests some bearish pressure in the recent trading session. Support and Resistance Levels: R1 (Resistance Level 1): $1.0031 - This level represents a near-term barrier that SUI needs to surpass to signal a stronger bullish momentum. R2 (Resistance Level 2): $1.1984 - A higher resistance level that could come into play if a significant uptrend develops. S1 (Support Level 1): $0.7641 - Marked as the immediate support, a crucial level to watch if the current price continues to decline. Technical Indicators: MACD (Moving Average Convergence Divergence): Currently, the MACD line is below the signal line, suggesting bearish momentum. The separation between the lines indicates that the bearish trend may still be strong. RSI (Relative Strength Index): At 39.76, the RSI is approaching oversold territory, which might indicate that SUI is becoming undervalued and could potentially see a reversal or stabilization soon. Analysis and Conclusion: The current trading dynamics for SUI/USDT indicate a bearish trend with the price nearing the support at $0.7641. The key to future price movements will be whether this support can hold. Should it fail, it may signal further declines and potentially test lower levels not marked on the chart. Conversely, if the support at $0.7641 holds strong, it could serve as a foundation for a potential rebound. Traders should watch for a reversal pattern or bullish signals from MACD and RSI as indicators of a possible shift in momentum. If a reversal occurs, SUI could attempt to break above the resistance at $1.0031, targeting the higher resistance at $1.1984. Given the RSI's approach to oversold conditions, there could be an opportunity for buyers to step in soon, particularly if other market or external factors support a bullish sentiment. However, the prevailing bearish MACD suggests that caution is warranted. In summary, traders should monitor SUI/USDT closely at the $0.7641 support level for signs of stability or a further breakdown. The interplay between the current bearish MACD and nearing oversold RSI conditions could provide interesting trade setups. As always, employing proper risk management strategies is crucial in navigating the potential volatility.
by MarsSignals
ADAUSDT.1DIn this technical analysis of the ADA/USDT daily chart, I'll delve into the current price trends, identify key technical levels, and analyze the implications of the observed indicators to project potential future price movements. Key Observations: Current Price and Movement: ADA/USDT is currently trading at $0.3876, marking an increase of 3.09% today. This movement indicates a positive sentiment in the short term. Support and Resistance Levels: R1 (Resistance Level 1): $0.3606 - This level has just been surpassed, suggesting it might now act as a support if ADA maintains above it. R2 (Resistance Level 2): $0.5263 - Represents the next significant resistance, a breach of which could confirm a bullish trend. S1 (Support Level 1): $0.2255 - This is a critical support level, providing a floor for the current price. S2 (Support Level 2): Not specifically marked but would be relevant if S1 fails to hold. Technical Indicators: MACD (Moving Average Convergence Divergence): The MACD line is slightly above the signal line, indicating a bullish momentum, though the proximity of the lines suggests caution as momentum is not strongly bullish. RSI (Relative Strength Index): At 37.52, the RSI is approaching the lower bound of the neutral zone, indicating that ADA is neither overbought nor oversold but is moving towards potentially being undervalued. Analysis and Conclusion: The recent price increase in ADA/USDT, alongside the MACD positioning above the signal line, points towards a growing bullish sentiment. Having surpassed R1 at $0.3606, maintaining this level will be crucial for ADA to attempt a rally towards the higher resistance at R2 ($0.5263). The slight rise in RSI also supports the possibility of further upward movement, provided that ADA remains stable or grows in buying volume. Investors and traders should watch how ADA behaves around the newly established support at R1. A failure to hold above this level could see ADA retracing towards S1 at $0.2255, especially if broader market conditions turn unfavorable. Conversely, sustained positive momentum could see ADA targeting R2 in the upcoming sessions. In summary, ADA/USDT shows signs of recovery and bullish potential, with critical watch points at R1 for potential support and R2 for resistance. As always, traders should employ prudent risk management strategies, keeping an eye on broader market trends and news that could impact the cryptocurrency's price dynamics.
Long
by MarsSignals
NEARUSDT.1DIn this technical analysis of the NEAR/USDT daily chart, we will dissect the price movements, scrutinize the critical support and resistance levels, and delve into the insights offered by the MACD and RSI indicators. Key Observations: Current Price and Movement: NEAR/USDT is trading at $5.197, showing a decrease of 3.87% today. This movement suggests some bearish pressure. Support and Resistance Levels: R1 (Resistance Level 1): $5.849 - This level presents the immediate ceiling that needs to be breached for bullish momentum. S1 (Support Level 1): $4.253 - This is a critical support level, below which the price could see further declines. S2 (Support Level 2): Not specified, but would be the next support level if S1 fails to hold. Technical Indicators: MACD (Moving Average Convergence Divergence): The MACD line is below the signal line, indicating a bearish momentum. The separation between the lines is not extensive, suggesting that the bearish momentum is present but not overwhelmingly strong. RSI (Relative Strength Index): The RSI is at 33.28, nearing the oversold territory. This could imply that NEAR is potentially undervalued, and there might be a buying opportunity if the market sentiment shifts. Analysis and Conclusion: The current price action of NEAR/USDT indicates a bearish trend, as reflected by today’s price decline and the position of the MACD. The price is currently hovering above the support level at $4.253, which is crucial for preventing further declines. If this support holds, it could stabilize the price and potentially allow for a recovery towards R1 at $5.849. Given the RSI’s proximity to oversold conditions, there is a possibility of a reversal or at least some stabilization if the support at $4.253 remains intact. Traders should watch this level closely for signs of a rebound or further breakdown. Should the price break below $4.253, it would be prudent to watch for the next levels of support (like S2) and reassess the bearish momentum. Conversely, a bounce from this support could be seen as a bullish sign, particularly if accompanied by a bullish crossover in the MACD and an RSI that moves back above 35-40. In summary, the market conditions for NEAR/USDT suggest caution with a preparedness to act on potential shifts indicated by the technical levels and indicators. Monitoring the response at $4.253 will be critical in determining the short-term direction of the market. As always, traders should employ risk management strategies to protect their positions, particularly in such a volatile market environment.
Long
by MarsSignals
1
NMRUSDT.1DIn this technical analysis of the NMR/USDT daily chart, I explore the current price trends, key support and resistance levels, and the insights provided by technical indicators to offer a perspective on future price movements. Key Observations: Current Price and Movement: NMR/USDT is currently trading at $18.97, experiencing a slight increase of 0.26% today. This suggests a minor bullish activity within a predominantly bearish trend. Support and Resistance Levels: R1 (Resistance Level 1): $22.33 - This level represents the immediate resistance that needs to be overcome for a bullish reversal. S1 (Support Level 1): $16.97 - This is the nearest support level, crucial for holding the current price levels to prevent further declines. Technical Indicators: MACD (Moving Average Convergence Divergence): The MACD line is below the signal line, indicating continued bearish momentum. The proximity between the lines, however, suggests that the bearish momentum might be losing strength. RSI (Relative Strength Index): At 32.94, the RSI is approaching the oversold territory, hinting that the asset may be undervalued and could potentially see a reversal if bullish forces step in. Analysis and Conclusion: The current setup in the NMR/USDT chart shows a market trying to stabilize after experiencing bearish pressure. The slight increase in price today, despite the overall bearish trend indicated by the MACD, suggests that there could be potential for a short-term recovery if the support at $16.97 holds firm. This support level is key, as a drop below could lead to further declines, possibly testing new lows. However, the near-oversold RSI level presents a scenario where we might see some buying interest emerging, offering a chance for the price to rebound towards the resistance at $22.33. For bullish momentum to be confirmed, watching for a crossover in the MACD where the MACD line rises above the signal line will be crucial. In summary, traders should monitor the $16.97 support closely. A bounce from this level, supported by a positive shift in MACD and RSI, could offer a strategic entry point for a short to medium-term hold with a target at $22.33. Conversely, a break below this support would necessitate reevaluation of bearish targets. As always, employing proper risk management strategies is essential, considering the volatile nature of cryptocurrency markets.
Long
by MarsSignals
Bitcoin can rise a little and then continue fall inside channelHello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price some days ago declined lower than the support level, which coincided with the buyer zone, after which it entered to the pennant, where at once made impulse up, breaking 61200 again. Then the price made correction to the support level and then started to grow to the resistance line of the pennant pattern, after which turned around and fell to the support line. Next, the price bounced up, exiting from this pattern, and also rose higher than the 70200 resistance level, which coincided with the seller zone, but soon turned around and started to decline inside the downward channel. In the channel, BTC broke the resistance level one more time and fell to the support line of the channel, after which rebounded up, and tried to grow, but soon price continued to decline. Now, BITCOIN continues to decline inside the downward channel, so, in my opinion, the price can grow to the resistance line of the downward channel and then it will continue to decline to the support level. For this case, I set my TP at the 61200 support level. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
Technical Analysis and Trading Plan for Velas (VLX) Technical Analysis Velas (VLX) is currently in a descending channel. This pattern suggests a bearish trend in the short term, but there is potential for a bullish reversal if certain conditions are met. Descending Channel: The price is moving within a downward sloping channel, characterized by lower highs and lower lows. This pattern indicates ongoing selling pressure. Bullish Divergence: The VMC Cipher B indicator shows a series of bullish divergences, where the price is making lower lows, but the indicator is making higher lows. This often precedes a trend reversal. RSI and Stochastic Oscillator: Both the RSI and the Stochastic Oscillator are in oversold territory, suggesting that the selling pressure may be exhausted and a rebound could be imminent. Moreover, the Solana-Velas bridge is part of a broader initiative to improve cross-chain interoperability. This will allow assets to move freely between the two ecosystems, enhancing liquidity and usability across platforms​. Trading Plan for Spot Trading Given the technical indicators and recent news, here is a potential trading plan for Velas (VLX): Entry Point: Look for a breakout above the upper boundary of the descending channel with a confirmed bullish divergence. An ideal entry would be around $0.0098 - $0.0100, once the price shows signs of stabilization and reversal. Take Profit: Target the next significant resistance levels. A reasonable first target would be around $0.0120, with a secondary target at $0.0150 if the bullish momentum continues. Monitoring News Keep an eye on updates regarding the Solana-Velas bridge deployment. Positive developments or official announcements about the bridge going live could serve as strong catalysts for upward price movement. Regularly check news outlets and the official Velas and Solana channels for the latest information. By following this technical analysis and trading plan, you can strategically position yourself to capitalize on potential bullish movements in Velas while managing your risks effectively.
CRYPTO:VLXUSDLong
by elfabiiani
GFTUSDT.1DIn this technical analysis of the GFT/USDT daily chart, I dissect recent price movements and technical indicators to predict future trends and pivotal trading levels. Key Observations: 1. Current Price and Movement: • GFT/USDT is trading at $0.01970, experiencing a rise of 3.63% today, indicating renewed interest or buying pressure. 2. Support and Resistance Levels: • R1 (Resistance Level 1): Marked on the chart but not numerically identified, serves as a key obstacle to upward movement. • R2 (Resistance Level 2): $0.03000 - Represents a significant upper resistance which, if breached, could suggest a bullish trend reversal. • S1 (Support Level 1): $0.01362 - Current primary support level that the price needs to hold to prevent further declines. • S2 (Support Level 2): $0.01130 - This lower support level may come into play if S1 is broken, indicating a stronger bearish sentiment. 3. Technical Indicators: • MACD (Moving Average Convergence Divergence): The MACD line is below the signal line, suggesting bearish momentum despite today’s price increase. • RSI (Relative Strength Index): At 43.27, the RSI is near the lower half of the neutral range, which might indicate that the asset is not yet oversold, allowing room for downward or upward movement. Analysis and Conclusion: The price of GFT/USDT is currently in a delicate balance, hovering near a historically significant support level at $0.01362. Today’s positive price movement could be the start of a potential upward trend or a temporary rebound in a longer bearish phase. The proximity of the MACD lines, despite being in a bearish configuration, suggests that bearish momentum may be waning, and a trend reversal could be forthcoming. However, for a bullish trend to confirm, the price needs to break and sustain above the immediate resistance at R1 and then target R2 at $0.03000. Conversely, should the price fail to sustain this level and breaks below S1 at $0.01362, the next level to watch would be S2 at $0.01130, which could further confirm the bearish market sentiment. Traders should monitor these levels closely and look for confirmation from MACD and RSI for stronger signals on the direction. The current state suggests a cautious approach; watching for a potential breakout or breakdown around these key levels will be crucial for confirming the next significant move. As always, consider employing risk management strategies such as stop losses to protect investments from unexpected market moves.
G
by MarsSignals