conclusion = do take short position near to resistance area, (5.50,5.80) those who had shorted at 4.68 can DCA on current price and on Resistance price partially .Ur Avg after DCA must be around 4.80 .
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+ Bullish bounce near $0.50 + Critical resistance area: $0.5310 (0.5 Fibonacci) and $0.5574 (0.618 Fibonacci) + Breakout above resistance could lead to rally to $0.58 + Bearish rejection could lead to decline to $0.40
*Conclusion:
+ XRP faces significant resistance levels + Market uncertainty and consolidation possible
- Current price: $69,758 - Recent performance: 7.73% recovery, followed by a 1.7% dip - Fibonacci level: 23.60% at $68,823 - Possible scenarios: - Bearish avalanche to $65K - Retest before a massive surge to a new all-time high
*Technical Indicators*
- Flag pattern: bullish breakout teases a jump beyond all-time high - Supply zone: visible at $71,400, warns of bearish turnaround
*Derivatives Data*
- Open Interest: surged 15.5% to $16.76 billion, indicating increased market liquidity and volatility - Funding rate: 0.00803132, signifies dominant long traders, supporting bullish viewpoint
*On-Chain Data*
- Transfer volume: increased 106.44% to 924,412.09, reflecting a boom in transaction activity
*Sentiment*
- Overall sentiment: bullish - Expectations: continuation of uptrend, potential surge to $79K - Caution: reversal below $68K could retest $65K zone
- Market Analysis: - Crypto market has stabilized after recent Ethereum news and pump - Expectation of no significant moves before Thursday's ETH ETF deadline - Potential approval of VanEck's ETF proposal could lead to another rally - Difference from BTC ETF: ETH price hasn't priced in approval yet
- Trade Signals: - Daily chart shows bullish signals - However, high volatility and unpredictability of ETH ETF make trading risky - Recommendation: use tight stop loss if opening orders
- Market Alert: - Warning of potential market crash following recent boom - Investors may lose unrealized profits if they don't sell or hedge - Exception: BNB (Binance Coin) may continue to rise due to burning process
- Note: - Not financial advice, Always do own research and consider risk tolerance before investing...
- Despite low approval odds from analysts and the crypto community, some experts suggest a potential surprise approval of Ether ETFs by the SEC.
- Crypto trader Matthew Hyland notes that if approval occurs, many will be caught offside, and the expectation of denial is already priced into the crypto market.
- Bloomberg ETF analyst Eric Balchunas estimates a 35% approval chance, while the crypto community predicts around 7% according to Polymarket.
- Coinbase institutional research analyst David Han believes the odds of approval are closer to 30-40% and suggests the SEC may be less likely to deny the ETFs as crypto becomes a more prominent issue for voters leading up to the US election.
- Han also notes that even if the ETF applications are initially denied, litigation could potentially overturn the decision.
Overall, while the majority of analysts and the crypto community expect a denial, some experts suggest a possible surprise approval, which could catch many off guard.
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- We believes that the next stage of the bull run will focus on low-cap cryptocurrencies - We have identified 10 low-cap cryptocurrencies with potential for growth. (RWA, AI, GameFi)
- The list includes: - Patex Network ($PATEX) - KTX Finance ($KTC) - Oraichain ($ORAI) - Autonolas ($OLAS) - GoNeuralAI ($NEURAL) - StarHeroes ($STAR) - BadMadRobots ($METAL) - GraphLinq ($GLQ) - Maple Finance ($MPL) - AIT Protocol ($AIT)