Yesterday, I started accumulating for long positions in $THE , $DOT , $ADA , and $ETH.
This is speculative, but I believe the moment for a bullish reversal is very near. Here's why:
1. Weakened Selling Pressure Selling pressure has significantly weakened compared to a few days ago. Currently, we’re seeing small candles, and some tokens are even forming doji patterns.
2. Strong Support Levels Most tokens, including $BTC, $ETH, and other altcoins, have tested their major support levels. They appear to have failed to break down below these levels, indicating strong buying activity around major support zones.
3. Positive Cryptocurrency Narratives The global sentiment around cryptocurrency remains mostly positive. Although there are some FUD-inducing events, like the DOJ's Silk Road case or Trump-related news, we must remember that crypto operates beyond the scope of just one or two countries.
4. Historical Trends Historically, Q1 following a halving event tends to be bullish.
I’m confident in my current positions. However, if I’m wrong, we may see prices dropping significantly if major supports are breached. For risk management, I’ve set my stop-loss slightly below major support levels — $29xx for $ETH and $89xxx for $BTC.
Good luck, everyone! I hope we all make some nice profits.
Current price: 7.090, with a 2.16% increase in the last 24 hours.
24-hour high: 7.233, and low: 6.823, indicating moderate volatility.
Recent low: 6.082, which may act as a strong support level.
2. Moving Averages (MA):
Short-Term MA (7-period): At 7.052, the price is slightly above this level, showing short-term bullishness.
Mid-Term MA (25-period): At 7.216, the price is below this, indicating resistance in the mid-term.
Long-Term MA (99-period): At 7.926, trending downward, indicating a bearish longer-term sentiment.
3. RSI (Relative Strength Index):
The RSI is at 48.61, which is neutral. This suggests there’s no strong buying or selling pressure, but it leans slightly toward potential bullish momentum.
4. MACD (Moving Average Convergence Divergence):
The MACD line (-0.091) is slightly above the signal line (-0.106), and the histogram shows weak positive momentum (0.015). This is a potential early signal of bullish movement, but the momentum is not strong yet.
5. KDJ Indicator:
K% (55.07), D% (41.34), and J% (82.53): The J% line is higher, indicating potential bullish strength in the short term, but not overly strong yet.
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Key Levels:
Resistance:
7.216 (25-period MA).
7.356 (recent peak).
Support:
6.823 (24-hour low).
6.082 (strong historical low).
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Potential Strategy:
1. Bullish Scenario:
If the price breaks above 7.216 (25-period MA) with strong volume, it may test higher resistance levels like 7.356 or above.
A sustained move above the 99-period MA (7.926) would confirm a trend reversal to bullish.
2. Bearish Scenario:
If the price fails to break 7.216 and retraces below 6.823, it could test support near 6.082.
3. Neutral Approach:
Monitor for consolidation between 6.823 and 7.216 to decide on a clearer trend direction. -----
Summary
Bullish Bias: Break and sustain above 7.216 (watch for momentum).
Bearish Bias: Drop below 6.823, signaling further downside.
#THENA This chart shows the performance of $THE /USDT perpetual trading pair on Binance, using a 4-hour time frame. Below are some key observations and analysis based on the chart indicators:
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1. Price Movement
Current Price: 1.5235, representing a 11.03% increase in the last 24 hours.
24H Range:
High: 1.5300
Low: 1.3320
Trend: The price shows an upward trend, with higher highs and higher lows visible.
2. Moving Averages (MA)
MA(7) (Yellow): 1.4284
MA(25) (Red): 1.3902
MA(99) (Purple): 1.4415
The short-term MA(7) is above both the medium (25) and long-term (99) moving averages, indicating bullish momentum. A "Golden Cross" (short MA crossing above long MA) suggests further upside potential.
3. RSI (Relative Strength Index)
RSI(6): 75.1472
The RSI is above 70, indicating the asset is in the overbought zone. This suggests that the price may face resistance soon and could lead to a short-term pullback or consolidation.
4. MACD (Moving Average Convergence Divergence)
MACD Line (DIF): 0.0352
Signal Line (DEA): 0.0269
Histogram: 0.0083
The MACD line is above the signal line, and the histogram shows positive values, confirming bullish momentum. However, the gap between the MACD and the signal line is narrow, signaling caution as momentum might weaken.
5. Stochastic (KD Indicator)
K Line: 68.7690
D Line: 49.1798
The Stochastic indicates bullish momentum as the K line is above the D line. However, it's approaching the overbought zone, aligning with the RSI.
Summary & Key Levels
Bullish Scenario
If momentum continues, the next resistance level is around 1.5300 (24H high).
Breaking above this resistance could push the price toward 1.7684 (previous high).
Bearish Scenario
Overbought RSI and stochastic suggest a pullback could happen. Support levels to watch:
1.4415 (MA-99)
1.3900 (MA-25)
Recommendation:
If holding a long position, consider setting a stop-loss below 1.4415 to protect gains.
Wait for a retracement if planning to enter, as overbought indicators might cause a short-term dip.