Buyers successfully overturned sellers at the $61,500 support level. The price has finally managed to rise above the bearish institutional bias (EMA 9/EMA 18):
Bitcoin's price has returned to the resistance level around $67,000 - March 21, 2024.
Bitcoin price against the dollar (4H)
The price has returned to the $67,000 resistance level. If this level breaks, the price could rise to $69,500.
However, if sellers defend the resistance, a drop to $64,500 is possible. Regardless, a trend with rising lows and highs in the 4-hour timeframe needs to be established.
The RSI is currently at the bearish trendline, and a rejection could occur. Similarly, a bullish momentum needs to be regained.
After Ethereum's rejection at the $3500 resistance, sellers have entered the short-selling reload zone. Now, it's back at the $3250 support.
Buyers must defend the $3250 support to prevent a drop to $3000. If the price rebounds, a return to $3500 is possible.
To avoid further decline, Ethereum needs to bounce off the $3250 support. Breaking through the bearish institutional bias and the $3500 resistance is crucial.
A breakout of the bearish trendline could bring bullish volatility.
$Bitcoin must react at the $64,500 support level by March 19, 2024. If this support fails, the price may decline towards the next support at $61,500.
However, if the support holds, a rebound towards the resistance at $67,000 is possible. Either way, a change in the 4-hour trend is necessary for Bitcoin to regain momentum.
The RSI is currently declining below the bearish trendline, but a bullish divergence could occur if the price maintains support and the RSI moves above 50, indicating seller exhaustion.
๐SOL Bullish Trend Unnoticed by Many Traders๐! Analyzing SOLUSDT on a weekly timeframe reveals a mid-term bullish outlook. SOL shows a significant rounded bottom formation. Disagree? Let's discuss respectfully.
๐SOLUSDT Key Levels: Eyeing a Psychological Level of $170.00 as it draws buyers. Price is in an ascending triangle, hinting at a potential pullback after retesting $156.00. A break below support is anticipated if this pullback occurs.
๐SOLUSDT Strategy: After exiting an upward channel at $144.76, a downward trend seems likely. Immediate resistance is at $148.20, potentially pushing the price towards EMA 34 on the 1-hour chart.
๐Solana Short Opportunity: Preparing for a significant correction with a potential 333% gain from a 5X short, considering the bearish signs and overextended bullish phase.
๐#SOL Elliott Wave Analysis: Following a complex correction, the fifth wave in this cycle could potentially reach highs not seen before, post-breaking $87.5.
๐SOLUSDT Outlook: Facing resistance at $180.00, the increasing trading volume suggests a ready market for further gains. Currently, in an uptrend with SOL trading around $148.62, a continuation of the uptrend requires breaking past current levels.
๐Technical Chart Analysis: Target formation identified for SOLUSDT, indicating a favorable trend continuation. Feedback and discussions are welcome for further insight.
๐กSOLUSDT Trading Insight: With SOLUSDT overcoming the $139.00 resistance and currently at $152.34, the uptrend looks promising for further gains.
In summary, SOLUSDT exhibits bullish signals across multiple analyses, with significant resistance and support levels indicating potential trading strategies.
Cardano (ADA) is poised for a potential 60% rally in the next week, according to a prominent crypto analyst, Sssebi.
$$Despite a recent 5% drop, ADA's price stands strong at $0.75, backed by a $1.14 billion trading volume and a $24 billion market cap. The optimism stems from ADA's position above its 200-week moving average and significant buying momentum indicated by green candles on the weekly charts, suggesting a smooth climb to $1.2 without major resistance.
Sssebi also hints at ADA reaching $3 by May, drawing parallels with past market cycles where ADA recovered impressively from dips. The technical analysis underscores ADA's resilience and foundation for growth, with solid support at $0.58 and signs of an approaching bullish trend towards the $1 mark.
NEAR's price has been mirroring Bitcoin's trends over the past week. Recently, it's evident from the chart that NEAR's value has moved in sync with Bitcoin's. Currently, NEAR is valued at $8.2. Considering that NEAR's price jumped from $3 to double that amount in just a few days, analysts believe it's on track to reach its next target of $10 very soon.
The recent Gala price surge, with over a 90% gain in two days, has rewarded many investors, while leaving nearly half underwater, awaiting a challenging rally.
The price reached $0.076, with 48% of holders profiting. However, those who bought near the all-time high need a 750% price increase to profit.
Whales have started selling, offloading over 30 million GALA, dampening prospects for further gains. The 30-day MVRV ratio at 88% suggests potential profit-taking, with historical patterns indicating a risk of significant corrections.
Gala may correct further, potentially dropping to $0.06, but holding off on selling could push it past $0.072 resistance to possibly $0.10, challenging the bearish outlook.
Price is moving in a descending channel on the 12 hour frame It is about to break this channel upwards after testing the channel's downtrend We have buying momentum on the MACD indicator
The entry price is 0.0215 The first target is 0.02324 The second target is 0.02589 The third target is 0.02865
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