#SHIB GOT REJECTED ON ITS SHORTER TIMEFRAME!
Following its retest of minor resistance, SHIB experienced a subsequent rejection. However, this rejection may still indicate the potential for establishing a support level. The observed decline of 2.63% is anticipated after each resistance test, particularly when the resistance remains intact. Nevertheless, it would be prudent to monitor the forthcoming price movements of this altcoin.
#FIDA STUCK ON ITS MINOR RESISTANCE
After FIDA retested its minor resistance it then got rejected. Although such rejection is still showing a potential of creating a support. This 7.56% drop is to be expected after every testing of a resistance especially when the resistance hasn't been weakened. Albeit, it would be wise to continue observing the next price action this altcoin would take.
#RLC CONTINUES TO MOVE IN A RANGING MARKET STRUCTURE SETUP
Ranging market structures are often perceived as a prolonged and tiresome waiting period. Nevertheless, some may interpret this as an opportunity to accumulate more assets and identify entry points for significant levels of buyers and sellers. Aggressive traders also see this as a chance to secure an optimal position, anticipating substantial market movement following the period of consolidation. In relation to this, we expect a persistent retest of resistance for RLC to continue happening, leading to a varied market structure. Identifying the monthly lows and highs of an altcoin is a straightforward task. The price range that it has moved to is from 1.381 to 1.895 which is a price range that continued to be considered as a newly established support. By recognizing these critical levels, one can execute trades that emphasize both profit maximization and capital preservation.
These posts are for educational purposes. To guide the people who might still be struggling within the crypto market, those who are new to the environment and volatility and everyone else who needs it.
Stay wise, trade cautiously.
