#RENUSDT FORMING A RANGE B/W FALLING WEDGE PATTERN 🎯 TOOK | Mr_Tycoon23 på Binance Square

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#RENUSDT
FORMING A RANGE B/W FALLING WEDGE PATTERN 🎯
TOOK SUPPORT AND FORMED *INVERSE HEAD AND SHOULDER* WHICH SHOWS BULLISH MOMENTUM IN IT〽️🤩📈
📌ENTRY ON BREAKOUT 
❌SL: 0.03362
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*Ethereum Price Drops 6%, Eyes Major Rebound Ahead of Altseason* ❗❗ Ethereum Price Drops 6%, Major Rebound Ahead of Altseason👍🏻 *Highlights* ✅ Ethereum has shown signs of slowing its price decline. On-chain data suggests a strong support level at $2,290-$2,360. A breach of this support could lead to a significant price drop. Ethereum (ETH) is showing signs of a potential bullish recovery after closing last week with an inverted hammer candlestick. The large-cap layer-one (L1) network, with a fully diluted valuation of $273 billion and a daily trading volume of about $12.5 billion, saw its price drop 6% in the last 24 hours, trading at around $2,274 on Monday, September 16. Despite the recent dip, Ethereum’s correction has slowed compared to the sharp declines seen in August and early September. *Key Support Levels to Watch* Technically, Ethereum needs to bounce from its current support to avoid further losses. On-chain data from IntoTheBlock shows that 1.9 million Ethereum addresses bought 52.3 million ETH between $2,290 and $2,360, creating a str Even with the approval of spot Ethereum ETFs in the U.S. and other regions, ETH has struggled to find upward momentum. Recent data shows U.S. spot Ether ETFs have posted five straight weeks of losses. In contrast, U.S. spot Bitcoin ETFs have performed better, putting more pressure on Ethereum’s price support zone. If this support breaks, Ethereum could drop below $2,000, with the next key support level around $1,800. $ETH

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*Why Crypto Market is Crashing?* The crypto market has shifted to a bearish trend as growing uncertainty and investor fear take hold. Key factors contributing to the downturn include the U.S. presidential election turmoil, an assassination attempt on Donald Trump, and the upcoming Federal Open Market Committee (FOMC) meeting. Consequently, Bitcoin has fallen from its $60K mark, Ethereum has dropped below $2,400, and XRP has lost its $0.60 level. The market’s cautious sentiment reflects widespread anxiety over these developments. The satoshi streets bathed in Red with major altcoins like Solana (SOL), XRP, and Dogecoin (DOGE), contributing to a decrease in the market cap from $2.1 trillion to $2.03 trillion. *Ethereum’s Struggles* 🔰 Ethereum’s price tumbled below $2,300 due to the activity of a major whale selling off ETH holdings after eight years of dormancy, alongside bearish moves from other large holders. *Altcoin Reactions🔰* Bitcoin and Ethereum’s declines have ripple effects on altcoins: XRP is at $0.572 with a 23.16% drop in 24-hour trading volume; Solana (SOL) is priced at $131.01, down 3.82% with $1.73 billion in trading volume; Dogecoin (DOGE) is at $0.1017, falling 2.84% with $517.94 million in volume; Cardano (ADA) is $0.0008529, down 2.21% with $34,841 in volume. $BTC $ETH

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*NEM/USDT ANALYSIS UPDATE* NEM (XEM) has seen a recent price increase of 0.35% in the last hour and a 7.41% rise in the past week, with a current price of $0.0179 per XEM ¹. The 24-hour trading volume is $7.37M, and the total market cap is approximately $160 million. Key Levels: - Resistance: $0.5862 - Support: $0.480 Technical Analysis: The Relative Strength Index (14) and Stochastic %K (14, 3, 3) indicate a neutral signal for short-term trading. The price is above the Simple Moving Average (SMA) of $0, suggesting potential progress toward resistance. Market Sentiment: NEM's price has declined by 1.54% in the past 24 hours but remains 8.30% higher than its price seven days ago. The token looks stronger than the rest of the market, with a large accumulation and buyer strength. The token looks stronger than the rest of the market. Goes to retest the key level with a large accumulation. At the end of yesterday, the token was bought back, which shows the strength of the buyer in this market. There is emptiness along the way; nothing should interfere with the impulse. Trade Ideas: Consider a long position with a target of $0.5862, or a short position with a stop-loss at $0.4808. Keep in mind that cryptocurrency markets are highly volatile, and thorough research is essential before investing.

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*Bitcoin Analysis* SEPTEMBER 16th, 2024 ➖➖➖➖➖ ⚪️TECHNICAL (H4) The price action of $BTC on the H4 timeframe is consolidating within a symmetrical triangle pattern. Currently, it's facing rejection from the resistance trendline level 📉. We can expect the price action to respect the horizontal support level, marked between $57,240 to $56,469 📊 ⚪️WRAP-UP (VIP) The price action is currently facing rejection from its resistance trendline level 📉. It is squeezing out lower liquidity levels marked below, and with the breakdown of the support level, we may see further downward movement 📊 $BTC DAILY RANGE: 📈Upper Limit: $60,734 📉Lower Limit: $56,469 (+-7.55% based on moving average volatility open/endpoints) However, some experts believe Bitcoin is on the road to $60,000, driven by bullish on-chain data and inflows into US spot Bitcoin ETFs. It's essential to stay updated on market trends and analysis to make informed investment decisions. $BTC

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BITCOIN PRICE ACTION UPDATE 🌈💥 $BTC Going for this giga long here in #BTCUSDT guys.... entry just here near 58800.... my sl is near 54400 zones.... target if ATH... ATLEAST NEW HIGHS📈 keep your fud and panic with yourself, am giga bullish here... #WAGMI

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