Cryptocurrency News – An analyst from Crypto Banter predicted long deals in several cryptocurrencies in the next few days in a video this morning. In the analysis, he mentioned trading opportunities for Bitcoin (BTC), Stacks (STX), 1inch (1INCH), Arbitrum (ARB), Uniswap (UNI) and several other altcoins.
The analysis showed that the BTC price is facing a critical resistance level. On the weekly chart, the 9 and 18 EMA lines are acting as support and the upper side of the Gaussian channel is at around $28,400.
The market leader must stay above this level to maintain its upward momentum. If the cryptocurrency fails to hold above this level and falls back into the Gaussian channel, this could signal a potential change in the overall market trend.
DXY, which represents the value of the US Dollar against other currencies, was considered in the analysis considering that it could potentially affect the crypto market. If DXY completes its collapse and stays below the 100.78 level, it could spark a rally for riskier asset classes, including cryptocurrencies.
Additionally, the analyst also shared potential trade setups for several altcoins. Possible trading strategies for STX, 1INCH, ARB, UNI, SUI and Ocean Protocol (OCEAN) were explained in the video.
Looking at STX, the altcoin has reclaimed its 200-day moving average (MA) line and is potentially entering an uptrend, with the next major resistance at $1. On the other hand, 1INCH recently broke through a key resistance level and could target the next resistance levels at $0.58 and $0.69.
It was stated that ARB is trying to break out of a resistance zone and could potentially target $1.62 in the next few days. The analyst stated that he was trying to reclaim the 200-day MA line for UNI, and in this case, the price could rise up to $1.33.
SUI managed to break through the 200-day MA line and is currently experiencing consolidation above the technical indicator. Therefore, the analyst predicted that the crypto price could rise as high as $1.45. OCEAN was attempting to break a major resistance zone at $0.3940, but a correction towards the 200-day MA could create a new higher low.
It also identified potential trade entries for Optimism (OP), Aptos (APT), Cosmos (ATOM), Solana (SOL), Trias Token (TRIAS), Perpetual Protocol (PERP), and Trader Joe's (JOE).
OP shows the potential to revert to a positive trend and if it stays above $1.4785, it could target $1.51 and $1.68. It is also speculated that APT's price could rise to $20 and potentially higher in the long term, as the altcoin recently broke a key resistance level.
However, investors who want to trade for ATOM have been warned. At the time of analysis, the altcoin was approaching a resistance zone, which could cause the crypto price to drop to $15.40 in the next few days. TRIAS, on the other hand, is in a positive trend and technical data shows that it may continue for the next few days.
It is estimated that PERP could rise to $0.92 if it can break above the 200-day MA and maintain its position. It is also noted that investors should expect SOL to rise above $27 and may face the risk of falling to $21.70 if SOL is rejected at the $27 mark.
Finally, the Crypto Banter analyst predicts that JOE could follow the same trend as Avalanche (AVAX), given that Trader Joe is an Avalanche ecosystem token. Therefore, the analyst predicts that if AVAX recovers in the next few days, JOE may also recover.
