My name is Mukhtar Saeedat, I have a doctorate degree in accounting and finance, specializing in financial markets, digital marketing, and digital currencies.
I have received many requests to analyze the cryptocurrency with the tenth largest market cap in the crypto market: Cardano (ADA)!
Weekly situation:
The primary trend is bullish Sideways movement since the beginning of the year
Bullish signals:
🔜 Closing above the $0.5 level 🔜 Breaking through the descending moving averages (EMA13/MA30) 🔜 Closing above $1.15 (double bottom pattern) 🔜 The Relative Strength Index (RSI) is still in the positive zone (exceeding 55)
Theoretical targets:
Fibonacci extensions 2 and 2.618 between $2.6 and $4.4 Fibonacci extension 3.618 at $10
Market Update: $SOL Sol is currently forming a bullish Shark pattern. The first Order Block has also been identified.
A slight bounce is expected from this area, after which the price is likely to target the completion of the pattern, with the aim of clearing liquidity on the downside. $SOL
BTC.D failed to retest and has returned inside the ascending wedge pattern. This is a key area to watch closely, as a rebound from this level could have significant implications.
It is important to note that the Bitcoin Dominance Index (BTC.D) usually moves inversely to the market cap of altcoins, so any further developments may impact the performance of altcoins accordingly. $BTC
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Wyckoff Accumulation for Ethereum ($ETH ) is in progress. The first key level to reclaim is $3100, followed by a minor correction. After that, Ethereum will rise to $4000, which will initiate a strong bullish wave. Reaching $10,000 for Ethereum is programmed in this cycle.
The realized price refers to the average price at which ETH coins were purchased, and it is calculated based on the most recent transaction data recorded on-chain.
👉 The realized price of Ethereum is currently $2250.
In bull market phases like in 2017 and 2021, the price tends to rise significantly, exceeding the upper limit of the CryptoQuant index (red color).
🔍 If Ethereum can maintain its price above the realized price, it may head towards the red line around $5000. And if the price experiences a surge as seen in the previous two bull markets, Ethereum could surpass the $5000 barrier! $ETH
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The whale center that multiplied Bitcoin by 40 times has now exceeded one billion dollars. It is currently sitting on an unrealized loss of 18 million dollars.
In your opinion, what will happen next?
Liquidation of its position? Or will Bitcoin reach a new all-time high?
The Binance Smart Chain witnessed a 115% increase in trading volume on decentralized exchanges (DEX) over the week, reaching $43.28 billion in 7 days. 👀
The risks include strong competition from Optimism, zkSync, and StarkNet, especially with Ethereum's own trend to reduce reliance on these networks with its future updates.
ابو نعومي
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What cryptocurrency do you think is a good opportunity to buy now?
And why? What is the reason for your recommendation?
You will receive a reward of 10% of the profits if I buy the coin you suggest in my copy trading account.