Ethereum prices have been trading sideways for 11 days since August 9, and when an asset struggles to move higher, it often tests support levels. On a breach to $2510, $ETH could potentially fall to $2,412, and if this support level does not hold, the price could drop another $100 to reach $2,312.
However, if $ETH stays above $2,510, the short-term uptrend remains intact. In this scenario, the price could potentially reach $2,674, followed by a move towards $2,751.
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Name your altcoin in the comment section, and I will do a technical analysis for you!
The crypto market looks devastating on the charts! This is probably the biggest bull trap in human existence, as everyone is heavily invested in Bitcoin ETFs and altcoins. Investors have no idea, and they do not want to accept the fact that this could be a massive trap on their money.
Answer the following questions; if your answer is NO to all, then congratulations!
1. Do you like high inflation and money printing by central banks? No
2. Do you like FED, WEF (Klaus Schwab), WHO, Pfizer vaccination company and how they command you? No
3. Do you hate anonymous cash (paper money)? No
4. Do you want one world CBDC digital currency that will 24/7 monitor your spendings and can freeze your only 1 allowed wallet? No
5. Do you want this CBDC called Bitcoin? Do you like Bitcoin? NoOn the first Bitcoin chart, we can see an ascending parallel channel. It definitely does make sense to test the bottom of the channel. We hit a new all time high this year in March, but Bitcoin failed to continue to the upside. Instead, forming a fake bullish flag that already recently broke down. Big Impulse wave 12345 has finished.
On the second Ethereum chart, we have an even more problematic coin - $ETH . This coin didn't hit an all time high at all, and instead the price is struggling in the middle of the previous bear market. It looks like this whole uptrend from 2022 is just a corrective ABC structure, that's why there is a big possibility of a huge crash below 500 USD. Also, we can test the bottom of the channel.
On the third chart, there was almost no bull market in 2022, 2023 and 2024. Instead, this coin is consolidating and preparing for a huge breakdown! Below the blue trendline, there is a lot of liquidity to be taken by whales and a lot of money to be made. What's more, there is an unfilled FVGAP. This does not look good, or does it?
On the fourth $SHIB A chart, we can see a major descending triangle. I don't want to know what happens if this triangle breaks.
- _Short-term:_ Bullish, with a potential breakout to $0.00000208. - _Mid-term:_ Bullish, with a potential rally to $0.00000250. - _Long-term:_ Bullish, with a potential rally to $0.00000500... #MarketDownturn #SahmRule #BinanceTurns7
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Now, let's dive into this chart analysis:
DATA is in a bearish trend and close to its all-time low of $0.02010. It will likely reach a new all-time low if the decline continues.
A rebound can be expected from the lower support trendline at $0.0157. The RSI is close to the oversold zone, indicating a further downtrend followed by a potential rebound toward the resistance trendline.
24,000 $BTC options are about to expire with a Put Call Ratio of 0.83, a Maxpain point of $59,500 and a notional value of $1.4 billion. 184,000 $ETH options are about to expire with a Put Call Ratio of 0.80, Maxpain point of $2,650 and notional value of $470 million. This week's expiring options represent about 10% of the total position, and the August/ September/ December position is currently closer, all a little over 20%.
From the options data, the options term distribution is relatively even and the term structure is relatively solid. The recent options market is gradually lowering expectations of future volatility, and the market will gradually enter a stable period.#BlackRockETHOptions #BinanceTurns7 #MarketDownturn
In my previous analysis, I mentioned that we expect the price action this week to create a wick around $54,000-$56,000 and close this week around $58,000.
I'm still looking for an entry around $54,000-$56,000. However, the price action has bounced right off the 40-Weekly EMA around $56,000, so there's a chance we might not get the entry we wanted. Let's watch how the price action develops in the coming days.$BTC #MarketDownturn #SahmRule #BinanceTurns7
I will keep it simple for this one. There is a bullish divergence forming od D3 for $BLUR , both on RSI and AO. The same divergence formed on CRV a few days ago, and CRV pumped 20% in a day shortly after, making it one of the best performers of the day/week. The fact that both RSI and AO are forming the same divergence is a plus In addition they are forming on very high time frames, which is usually a good sign it just means it might take a bit longer to play out. Entered at 0.157, which is also a big support level.
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In this daily chart of Stacks #STXUSDT , the price is forming a descending channel, a pattern often signaling a potential bullish reversal. Currently trading at $1.428, STX could rally to $3.345, representing a possible gain of 133.74%. With strong resistance levels being tested, this setup is drawing attention for a potential breakout. Are you ready for the ride?
So, we've seen our drop into 58402.01 liquidity-what's next? I've been closely monitoring fundamentals all morning, and with NY session dollar news today and tomorrow, the market could move either way. The challenge now is that I don't want to sell no more scalps, and without a strong 4H bullish candle, I'm not even considering a long trade. I guess i just stair that screen till tomorrow night, ill keep you up to date if something pops up$BTC #LowestCPI2021 #MarketDownturn #SahmRule #BinanceTurns7 #BTC☀
The financialization of Bitcoin hashrate is $BTC rapidly emerging as a unique investment opportunity. Bitcoin's economic structure, especially the halving events every four years, pressures miners to optimize costs, driving them towards two primary energy strategies: grid-tied and co-location with power generators. Grid-tied miners benefit from economies of scale and participate in demand response services, while co-located miners target renewable energy sources, exploiting mismatches in energy demand and supply, according to Coindesk. As Bitcoin mining continues to evolve, hashrate is being recognized as a distinct commodity with features like fungibility and divisibility, making it an attractive asset class. Investors can now engage in mining without owning hardware, using derivatives to hedge against price fluctuations. The profitability of mining is determined by the difference between hash price (market value of mining power) and hash cost (expenses related to mining). A profitable operation requires the hash price to exceed hash cost, with competition and energy costs influencing this dynamic. The market has also seen the introduction of hashrate-linked financial products, providing more data points to predict$BTC #LowestCPI2021 #MarketDownturn #BinanceTurns7 #BinanceTurns7
$SOL is currently trading in a key support zone between $141.50 and $150.00, which presents a favorable opportunity for a long spot trade. This area has shown strength in maintaining the price, making it an ideal entry point.
Trade Setup:
Entry: Enter a long spot trade in the $141.50 - $150.00 area of support.
Take Profit:
First target: $164.00 - $176.00
Second target: $189.00 - $200.00
Stop Loss: Place the stop loss just below $135.00.
Reduced selling pressure and increased demand for the remaining tokens can potentially lead to significant price appreciation. The community's belief in the project is evident!
In this weekly analysis of $SEI /USDT, we observe a potential long-term reversal setup as the price tests a critical support zone. This level coincides with key Fibonacci retracement levels, suggesting that a bullish reversal could be on the horizon. The chart presents an attractive risk-to-reward ratio for traders looking to capitalize on a potential move back towards previous highs.
Key Observations:
Fibonacci Retracement: The price has retraced to the 61.8% Fibonacci level, a key zone often associated with strong support and potential reversals. This level is around $0.2454, which has shown to be a significant area of interest.
Descending Wedge: The price action has formed a descending wedge pattern, which is generally considered a bullish reversal pattern. A breakout from this wedge could indicate the start of a new uptrend.
Support and Resistance Levels: The immediate support is at the current price level around $0.2454, with major resistance levels identified at $0.9778 and $3.3109. A break above these resistance levels could open the door to much higher targets.#CryptoMarketMoves #MarketDownturn #BinanceTurns7