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TA- Shiba Inu Price Struggles, But Could Be Set For A Major Run

The price of the Shiba Inu (SHIB) could be set for a major run as it holds its support against Tether (USDT). 

Bitcoin’s (BTC) price saw a bounce from $23,000 to $24,800 as the favorable news from the consumer price Index (CPI) saw a good response across the boards in the crypto market as the price of Shiba Inu eyes $0.00001700.

Related Reading: AVAX Holds Steady And Sets Sights On $50 Barrier Breach

The consumer price Index measures inflation in the economy, due to market sentiments this affects the prices of assets. (Data feeds from Binance)

Shiba Inu Price Analysis On The Weekly Chart
Weekly Price Analysis For SHIB | Source: SHIBUSDT On Tradingview.com

From the chart, the price of SHIB saw a weekly low of around $0.00000740, which bounced from that area and rallied to a price of $0.00001240.

The price has built more momentum as it faces resistance at $0.00001400.

If the price of SHIB on the weekly chart continues with this bullish structure, it could quickly revisit  $0.00001732.

Weekly resistance for the price of SHIB – $0.00001400.

Weekly support for the price of SHIB – $0.00000995.

 

Price Analysis Of SHIB On The Daily (1D) Chart
Daily Price Analysis For SHIB | Source: SHIBUSDT On Tradingview.com

The price of SHIB found strong support at around $0.00001, with what seems to be an area of interest on the daily chart.

SHIB bounced from its support and rallied as it faced resistance to breaking above the 50 Exponential Moving Average (EMA) which corresponds to $0.00001154.

At the point of writing, the price of SHIB is at $0.00001265, trying to break above a ranging channel to the upside.

SHIB is facing a resistance of $0.00001400 to break the channel, If the price of SHIB breaks above the $0.00001400 resistance with good volume the price of SHIB could rally to a high of $0.00001720.

The Relative Strength Index (RSI) for the price of SHIB on the daily chart is above 60, indicating healthy buy bids for SHIB.

The volume for SHIB indicates buy bids, this shows bulls would want to push the price higher.

 

Daily (1D) resistance for SHIB price – $0.000014.

Daily (1D) support for SHIB price – $0.0000115, $0.00001.

Shiba Inu Price Analysis On The Four-Hourly (4H) Chart
Four-Hourly Price Analysis For SHIB | Source: SHIBUSDT On Tradingview.com

The price of SHIB has continued to maintain its bullish structure despite retracing to its support that corresponds to its 50 EMA at $0.00001226 on the 4H chart, as the price faces resistance at $0.000013.

SHIB price is $0.00001266, trading above the 50 and 200 EMA with prices of $0.0000120 and $0.00001154 on the 4H chart. These prices would act as support areas for SHIB on the 4H chart.

 

Four-Hourly (4H) resistance for SHIB price – $0.000013, $0.000014.

Four-Hourly (4H) support for SHIB price – $0.00001210, $0.00001154.

 

A break in the resistance would send SHIB’s prices higher.

Featured image from Bitcoinist, Charts from TradingView.com 

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TA- The Price Of Fantom Shows Strength – Eyes $0.70

The price of Fantom (FTM) shows strength and could be set for a major run against Tether (USDT) with eyes set on $0.7. 

Bitcoin’s (BTC) price saw a bounce from $23,000 to $24,800 as the favorable news from the consumer price Index (CPI) saw a good response across the boards in the crypto market. As a consequence, the price of Fantom was able to try and break out of its range.

The consumer price Index measures inflation in the economy, due to market sentiments this affects the prices of assets. (Data feeds from Binance)

Fantom Price Analysis On The Weekly Chart
Weekly FTM Price Chart | Source: FTMUSDT On Tradingview.com

From the chart, the price of FTM saw a weekly low of around $0.2, which bounced from that area and rallied to a price of $0.4.

The price has built more momentum as it faces resistance at $0.4.

If the price of FTM on the weekly chart continues with this bullish structure, it could quickly revisit  $0.7.

Weekly resistance for the price of FTM – $0.4.

Weekly support for the price of FTM – $0.2.

Price Analysis Of FTM On The Daily (1D) Chart
Daily FTM Price Chart | Source: FTMUSDT On Tradingview.com

The price of FTM found strong support at around $0.2, with what seems to be an area of interest on the daily chart.

FTM bounced from its support and rallied as it faces resistance to break above a ranging channel and has continued to move in range.

At the time of writing, the price of FTM is at $0.39, above the 50 Exponential Moving Average with a price at $0.33 trying to break above a ranging channel to the upside.

FTM is facing a resistance of $0.4 to break the channel, If the price of FTM breaks above the $0.4 resistance with good volume the price of FTM could rally to a high of $0.7.

The Relative Strength Index (RSI) for the price of FTM on the daily chart is above 65, indicating healthy buy bids for FTM.

The volume for FTM indicates buy bids, this shows bulls would want to push the price higher.

Daily (1D) resistance for FTM price – $0.4.

Daily (1D) support for FTM price – $0.33, $0.3.

Price Analysis OF FTM On The Four-Hourly (4H) Chart
Four-Hourly FTM Price Chart | Source: FTMUSDT On Tradingview.com

The price of FTM has continued to maintain its bullish structure despite facing resistance at $0.4 trying to break out of a ranging channel.

FTM is trading above the 50 and 200 EMA with prices of $0.372 and $0.33 acting as its support on the 4H chart, as the price faces resistance at $0.4.

If the price of FTM breaks above the channel with a good volume we could see prices trending to $0.7, In case FTM is unable to break and experience a sell-off, 50 and 200 EMA prices would act as support for FTM prices.

Four-Hourly (4H) resistance for FTM price – $0.4.

Four-Hourly (4h) support for FTM price – $0.372, $0.33.

Featured image from zipmex, Charts from TradingView.com 

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TA- Binance Coin Continues To Look Strong Despite Altcoins Shakeout

The price of Binance coin (BNB) continues to look strong as it holds its support against Tether (USDT) after the Consumer Price Index (CPI) announcement. The CPI tends to provide a gauge as regards inflation in the economy while instigating BTC prices and other altcoins.

Bitcoin’s (BTC) price saw a pullback from $24,200 to $22,800 despite showing signs of a relief rally but was faced with resistance to breakout. Despite the shake-out, the price of the Binance coin remained strong. (Data feeds from Binance)

Price Analysis Of BNB On The Weekly Chart
Weekly BNB Price Chart | Source: BNBUSDT On Tradingview.com

From the chart, the price of BNB saw a weekly low of around $210, which bounced from that area and rallied to a price of $330.

The price has built more momentum as it faces resistance at $336.

If the price of BMB on the weekly chart continues with this bullish structure, it could quickly revisit  $450.

Weekly resistance for the price of BNB – $336.

Weekly support for the price of BNB – $300, 210.

Price Analysis Of BNB On The Daily (1D) Chart
Daily BNB Price Chart | Source: BNBUSDT On Tradingview.com

The price of BNB found strong support at around $270, with what seems to be an area of interest on the daily chart.

BNB bounced from its support, forming a trendline as it faces resistance to break above $336.

At the point of writing, the price of BNB is at $333, trying to break the resistance at the $336 area. 

If the price of BNB breaks above the $336 resistance with good volume the price of BNB could rally to a high of $450.

The trendline formed by BNB acts as the support and area of interest for subsequent buy bids. A break of this trendline below invalidates the setup.

With more buy bids, and the positive CPI announcement we could see the price of BNB trending higher. 

The RSI for the price of BNB on the daily chart is above 70, indicating healthy buy bids for BNB.

The volume for BNB indicates buy bids, this shows bulls would want to push the price higher.

 

Daily (1D) resistance for BNB price – $336.

Daily (1D) support for BNB price – $270, $220.

Price Analysis OF BNB On The Four-Hourly (4H) Chart
Four-Hourly BNB Price Chart | Source: BNBUSDT On Tradingview.com

The price of BNB has continued to maintain its bullish structure despite retracing to its trendline support on the 4H chart, as the price faces resistance at $336.

BNB price is $333, trading above the 50 and 200 EMA with prices of $310 and $280 on the 4H chart. These prices would act as support areas for BNB on the 4H chart.

Four Hourly (4H) resistance for BNB price – $336.

Four hourly (4h) support for BNB price – $310, $280.

With the positive CPI news, the price of BNB could break the resistance and would trend higher.

 

 

Featured image from Bitnovo, Charts from TradingView.com

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TA- Bitcoin Bounced off Key Support After CPI Announcement

The price of Bitcoin (BTC) bounced off its key support against Dollars (USD) after the Consumer Price Index (CPI) announcement in the United States. The metric is used to measure inflation in U.S. dollar and hints at a potential slowdown. 

Bitcoin price saw a pullback from $24,200 to $22,800 despite showing signs of relief rally but was faced with resistance to breakout ahead of CPI news sentiments. (Data feeds from Bitstamp)

Price Analysis Of BTC On The Weekly Chart
Weekly Price Analysis For BTC | Source: BTCUSD On Tradingview.com

From the chart, the price of BTC saw a weekly low of around $19,100, which bounced from that area and rallied to a price of $24,300.

The price has built more momentum as it faces resistance at $24,300.

If the price of BTC on the weekly chart continues with this bullish structure, it could quickly revisit  $28,000.

Weekly resistance for the price of BTC – $28,000.

Weekly support for the price of BTC – $19,100.

Price Analysis Of BTC On The Daily (1D) Chart
Daily Price Analysis For BTC | Source: BTCUSD On Tradingview.com

The price of BTC found strong support at around $20,600, with what seems to be an area of interest on the daily chart.

BTC bounced from its support, forming a rising wedge as it faces resistance to break above $24,200.

At the point of writing, the price of BTC is at $23,980, trying to break the resistance of $24,000 that corresponds to the 50 exponential moving averages (EMA). 

If the price of BTC fails to break above the 50 EMA region, and at the same time breaks below the ascending wedge,  $20,600  would be a good support to hold sell-offs and a possible price bounce.

With more buy bids, and the positive CPI announcement we could see the price of BTC breaking out above $24,300, and BTC price will trend higher.

The RSI for the price of BTC on the daily chart is above 50, indicating healthy buy bids for BTC.

The volume for BTC indicates low buy bids, this shows bulls would want to know the outcome of the CPI meeting.

Daily (1D) resistance for BTC price – $24,300.

Daily (1D) support for BTC price – $22,800, $20,600.

 

Price Analysis OF BTC On The Four-Hourly (4H) Chart
Four-Hourly Price Analysis For BTC | Source: BTCUSD On Tradingview.com

The price of BTC has shown a range in an ascending wedge on the 4H chart, as the price faces rejection at $24,000.

BTC’s price is $23,990, trading above the 50 but above the 200 EMA with prices of $23,200 and $22,700 on the 4H chart. These prices would be a support area for BTC on the 4H chart.

Four-Hourly (4H) resistance for BTC price – $24,300.

Four-Hourly (4H) support for BTC price – $23,200, $22,700.

 

With the positive CPI, the price of BTC would trend higher.

 

Featured image from NewsBTC, Charts from TradingView.com 

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TA- My Neighbor Alice Could Be Set For A Major Bounce – Eyes $5

The price of My Neighbor Alice (ALICE) could be set for a major bounce against Tether (USDT) and to hit $5. 

Ethereum price saw a relief bounce from $1,600 to $1,800 ahead of merge sentiments leading to other altcoins like My Neighbor Alice bouncing off from their weekly lows. (Data feeds from Binance)

Price Analysis Of ALICE On The Weekly Chart
Weekly Price Chart Analysis For ALICE | Source: ALICEUSDT On Tradingview.com

From the chart, the price of ALICE saw a weekly low of around $1.9, which bounced from that area and continued in a range of $1.9 -$3.

The price has built more momentum as it faces resistance at $3.

If the price of ALICE on the weekly chart continues with this bullish structure, it could quickly hit the $5 mark.

The volume shows decent buy bids, pushing the price of ALICE higher.

 

Weekly resistance for the price of ALICE – $3.

Weekly support for the price of ALICE – $1.9.

Price Analysis Of ALICE On The Daily (1D) Chart
Daily Price Chart Analysis For ALICE | Source: ALICEUSDT On Tradingview.com

The price of ALICE found strong support at around $1.92, with what seems to be an area of interest on the daily chart.

ALICE bounced from its support, forming a ranging channel between prices $1.92 – $3.2 with more buy bids lately.

At the point of writing, the price of ALICE is at $2.72, trying to break out of the channel faced with resistance of $3.2 and trading above the 50 exponential moving averages (EMA), which corresponds to the resistance at $2.65. 

If the ALICE price fails to break the channel and falls below the 50 EMA region, $1,92 would be a good support to hold sell-offs and a possible price bounce.

With more buy bids, we could see the price of ALICE breaking out above $3.2, which has been resistance on the weekly chart.

The RSI for the price of ALICE on the daily chart is above 50, indicating healthy buy bids for ALICE.

The volume for ALICE looks good, indicating positive signs for prices to trend higher.

 

Daily (1D) resistance for ALICE price – $3.2.

Daily (1D) support for ALICE price – $2.65, $1.9.

Price Analysis Of ALICE On The Four-Hourly (4H) Chart
Four-Hourly Price Chart Analysis For ALICE | Source: ALICEUSDT On Tradingview.com

The price of ALICE has shown a range in a channel on the 4H chart, as the price faces rejection at $3.2.

ALICE price is $2.7, trading below the 50 but above the 200 EMA with prices of $2.8 and $2.6 on the 4H chart. This 200 EMA price would be a support area for ALICE on the 4H chart.

Four Hourly (4H) resistance for ALICE price – $3.2.

Four hourly (4h) support for ALICE price – $2.6, $2.1.

 

Featured Image From Teknone, Charts From TradingView.com 

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TA- STEPN (GMT) Could Be Set For A Major Rally After Bullish Signs

The price of STEPN (GMT) could be set for a major rally against Tether (USDT) after showing bullish signs. 

Ethereum price saw a relief bounce from $1,600 to $1,800 ahead of merge sentiments leading to other altcoins like STEPN bouncing off from their weekly lows. (Data feeds from Binance)

Price Analysis Of GMT On The Weekly Chart
Weekly STEPN Price Chart Analysis | Source: GMTUSDT On Tradingview.com

From the chart, the price of GMT saw a weekly low of around $0.58, which bounced from that range and rallied to $1.

The price has built more momentum as it faces resistance at $1.

If the price of GMT on the weekly chart continues with this bullish structure, it could quickly hit the $1.7 mark.

The volume shows decent buy bids, pushing the price of GMT higher.

 

Weekly resistance for the price of GMT – $1.

Weekly support for the price of GMT – $0.63.

 

Price Analysis Of GMT On The Daily (1D) Chart
Daily Chart Analysis For STEPN Price | Source: GMTUSDT On Tradingview.com

The price of GMT found strong support at around $0.58, with what seems to be an area of interest on the daily chart.

GMT bounced from its support, forming a bullish trendline that acts as a support and has continued to maintain this structure. 

At the point of writing, the price of GMT is at $1, trying to break above the 50 exponential moving averages (EMA), which corresponds to the resistance at $1. 

If the GMT price fails to break the 50 EMA region, $0.84 would be a good support to hold sell-offs and a possible price bounce.

With more buy bids, we could see the price of GMT breaking out and retesting $1.7, which has been resistance on the weekly chart.

The RSI for GMT price on the daily chart is above 55, indicating healthy buy bids for GMT.

The volume for GMT looks good, indicating positive signs for prices to trend higher.

 

Daily (1D) resistance for GMT price – $1.

Daily (1D) support for GMT price – $0.84, $0.59.

Price Analysis Of GMT On The Four-Hourly (4H) Chart
Four-Hourly Chart Analysis For STEPN Price | Source: GMTUSDT On Tradingview.com

The price of GMT has shown a bullish breakout from a symmetric triangle on the 4H chart, but the price was rejected.

GMT has struggled in this region, forming a range in a triangle with price rejecting from $1.1.

GMT price is $0.994, trading above the 50 & 200 EMA at $0.95 on the 4H chart. This price would act as a support area for GMT on the 4H chart.

 

Four Hourly (4H) resistance for GMT price – $1.

Four hourly (4h) support for GMT price – $0.92, $0.84.

 

A break below these support zones could send the price of GMT to a region of $0.80, acting as a good support area.

Featured Image From Coin24h, Charts From TradingView.com

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TA- Cosmos Could Be Set For A Wild Rally Ahead Of Crucial Breakout

The price of Cosmos (ATOM) could be set for a wild rally with a potential breakout against Tether (USDT) ahead of summer relief for altcoins. 

Ethereum price saw a relief bounce from $1,600 to $1,800 ahead of merge sentiments leading to other altcoins like Cosmos breaking out in price. (Data feeds from Binance)

Price Analysis Of ATOM On The Weekly Chart
Weekly Price Chart Analysis For ATOM | Source: ATOMUSDT On Tradingview.com

From the chart, the price of ATOM saw a weekly low of around $6.5, which bounced from that range and rallied to $11.3.

The price has built more momentum as it faces resistance at $17.

If the price of ATOM on the weekly chart continues with this bullish structure, it could quickly hit the $17 mark.

The volume shows decent buy bids, pushing the price of ATOM higher.

Weekly resistance for the price of ATOM – $17.

Weekly support for the price of ATOM – $6.5.

Price Analysis Of ATOM On The Daily (1D) Chart
Daily Price Chart Analysis For ATOM | Source: ATOMUSDT On Tradingview.com

The price of ATOM found strong support at around $6.2, with what seems to be an area of interest on the daily chart.

ATOM bounced from its support, forming a bullish trendline that acts as a support and has continued to maintain this structure. 

At the point of writing, the price of ATOM is at $12, trading above the 50 exponential moving averages (EMA), which corresponds to the support at $10. 

If the 50 EMA region fails to hold the price, $9 would be a good support to hold sell-offs and for a possible price bounce.

With more buy bids, we could see the price of ATOM retesting at $16 -$17, which has been resistance on the daily chart.

The RSI for ATOM price on the daily chart is 65, indicating healthy buy bids for ATOM.

The volume for ATOM looks good, indicating positive signs for ATOM prices to trend higher.

 

Daily (1D) resistance for ATOM price – $17.

Daily (1D) support for ATOM price – $10, $9.

Price Analysis Of ATOM On The Four-Hourly (4H) Chart
Four-Hourly Chart Analysis For ATOM | Source: ATOMUSDT On Tradingview.com

The price of ATOM has shown a bullish breakout from a symmetric triangle on the 4H chart, with the price closing above it.

ATOM has struggled in this region, forming a range in a triangle with price rejecting from $11.5.

ATOM price is $12, trading above the 50 & 200 EMA with prices of $10.7 and $10 on the 4H chart. These prices would act as support areas for ATOM on the 4H chart.

 

Four Hourly (4H) resistance for ATOM price – $16.

Four hourly (4h) support for ATOM price – $10.7, $10.

 

A break below these support zones could send the price of ATOM to a region of $9, acting as a good support area.

Featured image from NewsBTC, Charts from TradingView.com 

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TA- Ethereum Price struggles To Breakout – Eyes $2,000

The price of Ethereum (ETH) has struggled to break out of a range against Tether (USDT) after being rejected from key resistance.

Ethereum price has seen a relief bounce, with Bitcoin (BTC) rallying after closing the weekly candle with bullish sentiment from a daily low of $23,000 to a region of $24,100 in the early hours. (Data feeds from Binance)

Price Analysis Of ETH On The Weekly Chart

Ethereum’s price saw a weekly close of around $1,720, with a new candle opening bullish ahead of the week.

The price has built more momentum as it faces resistance at $2,400.

If the price of ETH on the weekly chart continues with this bullish structure, it could quickly hit the $2,000 mark ahead of its merge.

Weekly resistance for ETH price – $2,400.

Weekly support for ETH price – $1,012.

Price Analysis Of ETH On The Daily (1D) Chart
ETH Daily Price Chart | Source: ETHUSDT On Tradingview.com

The price of ETH found strong support at around $1,580, with what seems to be an area of interest on the daily chart.

ETH has continued to range in a channel where it has struggled to break out, ranging between $1,580 – $1,720.

At the point of writing, the price of ETH is at $1,774, trading above the 50 exponential moving averages (EMA), which corresponds to the support at $1,536. 

ETH price would find support at $1,536, which corresponds with the daily 50 EMA if it drops due to sell-offs.

If the 50 EMA region fails to hold the price, $1,362 would be a good support to hold sell-offs and for a possible bounce of ETH price.

With more buy bids, we could see the price of ETH retesting at $2,000 -$2,400, which has been resistance on the daily chart.

The RSI for ETH price on the daily chart is above 60, indicating healthy buy bids for ETH.

The volume for ETH looks good, indicating positive signs for ETH prices to trend higher.

 

Daily (1D) resistance for ETH price – $2,400.

Daily (1D) support for ETH price – $1,536, $1,362.

Price Analysis Of ETH On The Four-Hourly (4H) Chart
Four-Hourly (4H) ETH Price Chart | Source: ETHUSDT On Tradingview.com

The price of ETH has shown a bullish continuation on the 4H chart after bouncing off from the support at $1,600. 

ETH price has struggled in this region, forming a ranging channel on the 4H chart after a rejection at $1,740 due to sell-offs.

The current price is $1,770, trading above the 50 & 200 EMA with prices of $1,660 and $1,530 on the 4H chart. These prices would act as support areas for ETH on the 4H chart.

The price of ETH is trying to break out of the channel; with good buy bids, the price of ETH could push to $2,000 -$2,400.

 

Four-Hour (4H) resistance for ETH price – $2,400.

Four-Hour (4h) support for ETH price – $1,660, $1,530.

 

A break below these support zones could send ETH price to a region of $1,362, acting as a good support area.

Featured image from Bitcoinist, Charts from TradingView.com 

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TA – Apecoin Price Rallies Ahead Of The $10 Mark

The price of Apecoin (APE) shows strength after bouncing from a weekly low of $3.10 against Tether (USDT).

APE price has seen a relief bounce, with Bitcoin (BTC) rallying from a daily low of $19100 to a region of $23,000. (Data feeds from Binance)

Price Analysis Of APE On The Weekly Chart
Weekly Price Chart Analysis For Ape | Source: APEUSDT On Tradingview.com

From the chart, the price of APE saw a weekly low of around $3.10, which has formed support.

The price has built more momentum as it faces resistance at $10.

With a break above the $10 mark, the price of APE would rally to $12.

If the price of APE on the weekly chart fails to break the $10 mark, then a retest is bound at $6.7.

The volume shows decent buy bids, pushing the price of APE higher.

Weekly resistance for APE price – $10.

Weekly support for APE price – $6.7.

 

Price Analysis Of APE On The Daily (1D) Chart
Daily Price Chart Analysis For Ape | Source: APEUSDT On Tradingview.com

The price of APE found strong support at around $3.4, with what seems to be the bottom on the daily chart.

APE has continued to rally above this support region of $3.4 to a high of $7.7, where it has faced resistance.

At the point of writing, the price of APE is at $7.4, trading above the 50 exponential moving averages (EMA), which corresponds to the support at $6.2. 

APE price would find support at $6.2, which corresponds with the daily 50 EMA if it drops due to weekend sell-offs.

If the 50 EMA region fails to hold the price, $5.2 would be a good support to hold sell-offs and for a possible bounce of APE price.

With more buy bids, we could see the price of APE retesting at $10, which has been resistance on the daily chart.

The RSI for APE price on the daily chart is above 65, indicating healthy buy bids for APE.

The volume also indicates positive signs for APE prices to trend higher.

Daily (1D) resistance for APE price – $7.7, $10.

Daily (1D) support for Apecoin (APE) price – $6.2, $5.2.

Price Analysis Of Apecoin On The Four Hourly (4H) Chart
Four Hourly (4H) Price Chart Analysis For APE | Source: APEUSDT On Tradingview.com

The price of APE has shown great strength on the 4H chart after forming support at $4.22. 

APE price has rallied from this region, forming a bullish uptrend channel on the 4H chart.

The price of APE was rejected at $9.10, which saw sell-offs.

APE price is $7.4, trading above the 50 & 200 EMA with prices of $7 and $6.1 on the 4H chart. These prices would act as support areas for APE on the 4H chart.

The price of APE has formed an upward trendline after rallying from a low of $6.50.

 

Four Hourly (4H) resistance for APE price – $8, $10.

Four hourly (4h) support for APE price – $7, $6.1.

Featured image from NFT News Pro, Charts from TradingView.com

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TA – Polkadot Price Shows Strength, Eyes $10

The price of Polkadot (DOT) shows strength after bouncing from key support on the weekly chart against Tether (USDT).

After Bitcoin (BTC) bounced from its monthly low of $19,000, this signaled a relief for other crypto altcoins including the price of Polkadot. (Data feeds from Binance)

Price Analysis Of Polkadot On The Weekly (1W) Chart

 

Weekly Chart Analysis For DOT Price | Source: DOTUSDT On Tradingview.com

From the chart, the price of DOT saw a weekly low of around $6.50, where it has formed support.
The price has built more momentum as it faces resistance at $10.
A break above the $10 mark, the price of DOT would rally to $12.
If the price of DOT on the weekly chart fails to break the $10 mark, then a retest is bound at $8.62.
The weekly relative strength index for DOT price is 36, indicating more buy bids after bottoming out on the weekly low.
The volume shows decent buy bids, which will push the price of DOT higher.

Weekly resistance for DOT price – $10.
Weekly support for DOT price – $6.50.

 

Price Analysis Of Polkadot On The Daily (1D) Chart
Daily Chart Analysis For DOT Price | Source: DOTUSDT On Tradingview.com

The price of DOT found strong support at around $6.50, with what seems to be the bottom on the daily chart.

DOT has continued to rally above this support region of $6.50 to a high of $9, where it has faced resistance.
DOT’s price is at $8.40 at the point of writing; it is trading above the 50 & 200 exponential moving averages (EMA)

The 50 & 200 EMA with prices of $8.20 and $8 would act as support respectively for DOT price in case it drops due to weekend sell-offs.

If the 50 & 200 EMA region fails to hold the price, $7.92 would be a good support to hold sell-offs and a possible bounce of DOT price.

With more buy bids, we could see the price of DOT retesting at $9.18, which has been resistance on the daily chart.

RSI for DOT price on the daily chart is above 60, indicating healthy buy bids for DOT.
Volume on the daily timeframe indicates positive signs for DOT prices to trend higher.

Daily (1D) resistance for DOT price – $9.18, $10.
Daily (1D) support for DOT price – $7.92, $7.55, $7.20.

Price Analysis Of Polkadot On The Four Hourly (4H) Chart
DOT Price Analysis On The 4H Chart | Source: DOTUSDT On Tradingview.com

DOT has shown great strength on the 4H chart after bouncing off from its support.

After rejection in the price of DOT at $9.10, the price dropped to the 50 EMA mark at $7.95 which has formed good support in case of a sell-off in DOT price.

DOT  is trading at $8.47 above the 50 & 200 EMA on the 4H chart, haven rallied from a low of $6.50.

The price has formed a trendline acting as a resistance for DOT price, this would be invalidated only if the price breaks below the trendline.

Four Hourly (4H) resistance for DOT price – $9.10, $10.

Four hourly (4h) support for DOT price – $7.95, $7.67

Featured image from zipmex, Charts from TradingView.com 

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TA: BNB Bulls Look Set To Break Key Resistance Of $327

Binance coin (BNB) bulls look set to break key resistance with so much buying pressure that could send BNB price higher.

The price of BNB looks really strong after showing some positive signs in the past few days with a lot of bids created by BNB bulls driving the price of the coin despite the market uncertainty.

BNB Daily Chart Analysis
BNB Daily Chart Analysis After Breakout From A Symmetric Triangle | Source: BNBUSDT On Tradingview.com

The daily chart for BNB shows it is trading at $304.5 despite Bitcoin (BTC) trading at key support after falling from a region of $23,100. The price of BNB looks strong despite the market looking bearish which suggest bulls are holding on to the price of BNB.

BNB is trading above the 50 exponential moving average (EMA) but trading below the 200 exponential moving average (EMA). BNB broke above the 50 EMA on the daily chart with good volume and made a clean retest before showing more bullish signs.

The first major resistance for BNB corresponds with the 200 EMA, successful break and hold above this region could send BNB to a region close to $380.

On the daily chart, the price of BNB formed a bullish trend in a symmetric triangle with a successful breakout which confirms bulls could easily push the price of BNB to break its key resistance if market conditions are favorable.

Major resistance on the daily chart – $327.40.

Major support on the daily chart – $270.

BNB Price Analysis On The 4H Chart
BNB Price Chart Analysis on The 4H | Source: BNBUSDT On Tradingview.com

The price of BNB on the 4H chart shows the price is in an uptrend with swing highs towards the resistance at $327.40. BNB needs to break the key resistance for more upside to be possible but if the trend is not sustained BNB could retest supports at $297.25 and $285.

BNB is trading above the 50 & 200 EMA, indicating an uptrend direction for the period until invalidated or fails to break above the resistance level of the $327.40 mark.

If BNB fails to reclaim or break above the resistance of $327.40, it would likely revisit the 4H support region of $297.25.

Resistance on the 4H chart – $327.40.

Support on the 4H chart – $297.25, $285.

BNB 1H Chart Analysis 

The price of BNB on the one hourly timeframe looks good.

The price of BNB is above 50 & 200 EMA.

The relative strength Index (RSI) is above 60 

The volume shows strong buy bids

Resistance on the 1H chart – $327.40.

Support on the 1H chart – $297.25.

BNB is a strong project with a good use case and would always have bids placed should the price goes lower as the price is backed fundamentally.

On a low and high timeframe, BNB looks really strong and bullish with bulls ready to push the price higher. With a successful break of the key resistance, BNB would have a good rally.

 

Featured image from Watcher Guru, Charts from TradingView.com 

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TA: Solana Struggles To Break Key Resistance After $5M Hack

Solana (SOL) struggles to break key resistance after it suffers a huge loss on a hot wallet hack, losing over $5M creating so much panic in the heart of many faithful. 

The price of SOL looked strong in the early part of the week, trading above $40, trying to break the resistance before having an attack on some wallets drained more than $8 million from Solana users. It now struggles to break above the 50 exponential moving average (EMA) on the one-hour (1H) chart.

SOL Daily Chart Analysis
Solana Daily Price Chart Analysis | Source: SOLUSDT On Tradingview.com

The daily chart for SOL shows it is trading at $38.7 below the 50 & 200 exponential moving average after a reject from reclaiming this region early this week.

This means SOL will need to break above this resistance claimed earlier; this has been a region SOL has struggled to reclaim on the daily chart.

The volume of SOL indicates there are no buy activities due to the recent incident that has affected the price of SOL.

For SOL to trade higher in price, it needs to break this daily resistance of $40.9; else, we could see some pullbacks to the region of $36.6 if bulls do not step in.

The region of $36.6 is a strong demand zone where more buyers in recent times have seen SOL in a good position to accumulate.

Major resistance on the daily chart – $40.9.

Major support on the daily chart – $36.6, $32.

SOL Price Analysis On The 4H Chart
Solana 4H Price Analysis | Source: SOLUSDT On Tradingview.com

The price of SOL on the 4H chart shows the price is on a downtrend with swing lows respecting the trendline acting as resistance.

SOL needs to break to the upside of this channel for a change in trend.

SOL is trading below the 50 & 200 EMA, indicating a downtrend direction for the period until a reclaim of the resistance level above the $40 mark before a trend shift can occur.

If SOL fails to reclaim and break above the resistance of $40, it would likely revisit the 4H support region of $35 and $32.

The volume on the SOL chart indicates more sell pressure compared to buys, and if bulls are unwilling to step in, then support areas would be ideal for SOL to build more buy bids.

The relative strength Index (RSI) for SOL is below the 40 mark, indicating more sales than buys for now.

Resistance on the 4H chart – $40.9.

Support on the 4H chart – $35, $32.

SOL 1H Chart Analysis 
Solana 1H Chart Analysis | Source: SOLUSDT On Tradingview.com

The price of SOL on the one hourly timeframe is in an asymmetric triangle indicating a crucial time for SOL price. There would be a breakout from this region to the chart’s upside or downside. 

A breakout to the upside, SOL will need to overcome the resistance at the $39.7 and $40.9 region for more upside.

A breakout to the downside, SOL will need to hold the supports at the region of $37.7 and $35; else, we could visit more regions with a high demand of $32

Resistance on the 1H chart – $39.7, $40.9.

Support on the 1H chart – $37.7, $35.

Featured image from Analytics Insight, Charts from TradingView.com

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TA: AVAX Struggles To Hold Above Resistance As It Eyes $40

Avalanche (AVAX) struggles to hold above key support that will set the tone for a rally to the $40 mark region anticipated by many.

The price of Bitcoin (BTC) saw a retracement as it could not break and hold above important support that corresponds with the daily 50 exponential moving average (EMA). BTC’s unable to hold that region has led to AVAX struggles to form good support. 

Avax Weekly Chart Analysis
Avax Weekly Chart Analysis | Source: AVAXUSDT On Tradingview.com

The weekly chart for Avax shows a downtrend reversal to a low of $16.3, where buyers were more willing to step into the market.

The chart shows the price of Avax needs to break and close above $23.7 for it to resume its bullish movement to the $40 mark price anticipated by investors.

Avax has formed strong support at the $16.3 mark area, with more buyers willing to place bids in this region. This region can be seen as a good demand zone should the price of Avax retraces back to the current price.

Major resistance on the weekly chart – $23.7

Major support on the weekly chart – $15

Avax Daily Chart Analysis
Avax Daily Chart Analysis With A Triple Bottom Trend Reversal | Source: AVAXUSDT On Tradingview.com

The daily chart for Avax price shows it is struggling to reclaim the 50 exponential moving average (EMA); this corresponds to a key resistance stopping the price of Avax from rallying higher.

Avax on the daily chart has good support at around $16.3 with a triple bottom formation.

A triple bottom is a bullish trend reversal formation that allows investors to accumulate more crypto assets.

With the price of Avax breaking above the 50 EMA and closing above this region would be good for bulls to push this price higher. The cost of Avax is trading below the 200 EMA, which could act as the Idea resistance for Avax when there is a clear breakout above the 50 EMA.

The price of Bitcoin is trying to reclaim the $24,000 region, which has proved difficult; a reclaim and close above this resistance with good volume would allow the price of Avax to rally with good buy volume.

The daily chart’s volume and relative strength Index (RSI) looks good, with the RSI above the 50 mark area.

Daily resistance – $24.7.

Daily support – $20.5.

Avax Price Analysis On The 4H Chart
Avax On The 4H Chart With A Symmetric Triangle Bullish Formation | Source: AVAXUSDT On Tradingview.com

The price of Avax on the 4H chart shows the price has reclaimed both the 50 & 200 EMA, indicating an upward trend if all market conditions remain favorable.

Avax on the 4H chart has resistance at $25.43, trying to build and break out of a bullish symmetric triangle. A break and close above the triangle would signal a good rally for Avax.

The volume of Avax shows buyers are stepping into the market after a series of panic sales due to market decline.

Avax has a relative strength Index above the 50 mark showing good signs of buy orders in the market.

Should Avax fail to go higher in the price above $25.43, a pullback is expected to the support that corresponds with the 50 EMA.

Resistance on the 4H chart – $25.42.

Support on the 4H chart – $23.4.

 

Featured Image From Finbold, Charts From TradingView.com

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TA: Rune Could Be Set For A Rally As Buyers Step In

Rune could be set for a relief bounce despite having difficulty breaking the daily resistance.

The crypto market saw a setback in price after Bitcoin (BTC) saw a retracement back to a key support area leading to a drawback to the likes of Rune, but the market state indicates Rune could be set for a rally.

Rune Weekly Chart Analysis

The price of Rune has seen a continuous downtrend from a high of $12 to a low of $1.6 in weeks for what seems to be more than an 80% decline.

After finding a low at $1.58, it has started making a move with buyers stepping in; Rune has formed strong support at $1.6 with a weekly resistance of $3.7

Major resistance on the weekly chart – $3.7

Major support on the weekly chart – $1.6

Rune Daily Chart Analysis

 

Rune Price Analysis On The Daily Chart | Source: RUNEUSDT On Tradingbiew.com

The daily chart for Rune price shows a rising trend after falling to $1.58.

Haven struggled for days to reclaim important support on the daily chart; Rune is finally showing relief as it aims to reclaim significant support just above the 50 exponential moving average (EMA). 

Although Rune still trades below the 200 exponential moving average (EMA), it gives a sense of relief that on the low timeframe, Rune is doing well. A reclaim above the 200 EMA could send Rune higher.

Rune has resistance at $2.85; a breakout and close above this region could send Rune to a region of $3.3, should there be a pullback for the price of Rune, we would see a retest of the daily support at $2.45.

Daily resistance – $2.85.

Daily support – $2.45.

Rune Price Analysis On The 4H Chart
Rune Price Analysis On The 4H Chart | Source: RUNEUSDT On Tradingview.com

The price of Rune on the 4H chart shows the price has reclaimed both the 50 & 200 EMA, indicating an upward trend if all market conditions remain favorable.

Rune has a resistance of $2.85 on the 4H chart for it to trade higher. A break and close of this region would be good for Rune holders.

The volume of Rune shows buyers are stepping into the market after a series of panic sales due to market decline.

Rune has a relative strength Index above the 50 mark showing good signs of buy orders in the market.

If Rune fails to go higher in the price above $2.85, a pullback is expected to the support that corresponds with the 50 EMA with another key support on the 200 EMA.

Resistance on the 4H chart – $2.85.

Support on the 4H chart – $2.6, $2.4.

Rune 1H Chart Analysis

Rune on the 1H chart shows a good buying volume in the market with the RSI over the 70 mark region. Rune is having a challenge breaking the resistance at $2.85, breaking and closing above this region is important to sustain the bullish structure for Rune.

Rune has the structures of a solid project and looks good in the high timeframe as these timeframes maintain trends better.

 

Featured Image From The Coin Republic, Charts from TradingView.com 

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TA: Matic Price Faces Resistance To Break Above The $1 mark?

Despite showing great recovery signs from a low of $0.33 with over 80% gains in weeks, Matic price faces strong resistance at $1.

July has been good for most crypto projects, with the price of Matic surging to over 80% gains in just one month, although Matic price faces steep resistance at the $1 mark.

Matic Weekly Chart Analysis

The price of Matic moved from the low of $0.33 to a high of $1 before seeing a rejection to a region of $0.80.

Matic saw a relief bounce when it met its all-time high (ATH) of 2021; this became a good support for Matic to build more buy pressure for a good relief bounce.

Matic Weekly Price Chart Analysis | Source: MATICUSDT On Tradingview.com

From the strong support built around $0.33, Matic has been able to form weak support on the weekly chart at around $0.589.

A pull back on the weekly price of Matic would see us retesting the support region of $0.6 – $0.58.

Major resistance on the weekly chart – $1

Major support on the weekly chart – $0.6, $0.35

Daily Analysis Of Matic Price
Matic Daily Chart Analysis As It Struggles To Break $1 Resistance | Source: MATICUSDT On Tradingview.com

The daily chart for Matic price still looks good after being rejected from $1, which corresponds with the 200 EMA. 

Matic is holding up well above the 50 EMA, which is good support on the daily timeframe.

With trend reversal in a low timeframe, bulls could push the price high enough to break the 200 EMA resistance that has been tough to break. A successful break of the resistance at $1.02 could see the price of Matic go high as $1.3.

The volume on the daily chart suggests buyers are still holding on to their position until a complete trend reversal on a higher timeframe.

The relative strength Index (RSI) on the daily chart is at the 60 mark, which is a good sign as there is not much sell pressure on Matic.

If Matic cannot hold the 50 EMA as support, should there be a shift in trend to the downside, the region of $0.6 – $0.589 has been a good support area to allow buyers to drive the price upward.

Daily resistance – $1.02.

Daily support – $0.74, $0.589.

Matic Price On The 4H Chart
Matic 4H Chart Analysis After Rejection From 50 EMA | Source: MATICUSDT On Tradingview.com

The price of Matic on the 4H chart shows the price is above the 200 EMA but struggling to break past the 50 EMA acting as resistance for Matic.

Matic needs to break this resistance for bulls to push towards the $1 mark resistance that has proved difficult to break for Matic on the high timeframe.

The volume on the chart shows more buyers stepping in to buy Matic at this level; the bounce across the market for Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies could push the price of Matic high above the current price.

Matic needs to break and close above $0.88, which corresponds with the 50 EMA, to have a better chance of going higher; if Matic fails to break, then a pull back to the next support is expected.

Resistance on the 4H chart – $0.88, $1.

Support on the 4H chart – $0.776, $0.59.

 

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TA: Will Merge Sentiment Push Ethereum To $2,000?

Ethereum prices surge from the low of $980 to a high of $1,743 with so much excitement as regards the merge coming up in a few weeks. With the monthly close, there have been high expectations for the Ethereum price to reach a region of $2,000 -$2,400.

Ethereum Weekly Chart

The Ethereum price surged from the low $1,012 to $1,743 after several weeks of a downtrend.

There was a bit of relief bounce from Ethereum haven traded below the 50 & 200 Exponential moving average (EMA).

Ethereum Weekly Price Analysis | Source: ETHUSDT On Tradingview.com

Ethereum, as of writing, is trading at $1,580 after being rejected at $1,722; Ethereum could not break the weekly resistance ahead of it and closed below, which suggests bulls need to push to break this region for Ethereum price to move higher.

The volume on the weekly chart for Ethereum suggests more sales than buys after showing great signs of bulls pushing the prices ahead of the merge.

The weekly relative strength Index (RSI) has moved from oversold to 43, indicating decent buying pressure from bulls.

The weekly chart for Ethereum suggests it is still in a range of $1,012 to $1,722; breaking the resistance at $1,722 with good volume could easily send the Ethereum price to $2,000 ahead of the merge.

Major Weekly resistance – $1,722.

Major Weekly support – $1,012

Ethereum Price Analysis On The Daily Chart
Ethereum Price Analysis On The Daily Chart | Source: ETHUSDT On Tradingview.com

The daily chart for Ethereum price suggests the resistance of $1,722 rejected it despite trying to break and close above it. 

Ethereum is trading above the 50 EMA but below the 200 EMA. The 50 EMA acts as a support at $1,400, but a break and close below that region could easily send Ethereum price to a region of $1,200 – $1,012.

The volume on the daily chart indicates more selling pressure which is not ideal ahead of the merge sentiment.

Major support level on the daily chart (1D) – $1,400, $1,012.

Major resistance on the daily chart (1D) – $1,722

Ethereum price on the daily chart shows more selling activity, just in a range or channel that needs to be broken to the upside or downside. The RSI on the daily timeframe is above 50 after seeing a huge surge to a region of 70.

Ethereum Price On The 4H Chart

 

Ethereum Price Analysis On The 4H Chart | Source: ETHUSDT On Tradingview.com

On the 4H chart, the Ethereum price was able to break above the 50 & 200 EMA after trading below them for weeks. The price has been rejecting and trading above the 50 EMA but below the 200 EMA despite showing a strong bullish movement.

The 4H chart shows a bearish divergence indicating there could be a pullback to support areas.

Major resistance – $1,722

Major support – $1,462, $1,358, $1,250

Technical Indicators

50 & 200 Exponential Moving Average (EMA)

Volume Indicator

Relative Strength Index 14 (RSI)

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TA: Near Protocol Struggles To Break Out Despite Relief Bounce

Despite the relief bounce across the crypto market with the likes of BTC, ETH, and OP, surging high, Near Protocol has struggled to break out.

Near is one of the many blockchain solutions with good use cases trying to provide solutions to Ethereum scalability, bridging, and contributing to the DeFi space.

Near has struggled to break above its ranging channel despite being a favored coin in the crypto space.

NEAR Weekly Chart

After reaching its All time high (ATH) of $20.1 in January 2022, Near had struggled with its downtrend when the market became bearish, with major coins falling by 80%.

Near its ATH of $20.15, it has fallen by over 75% to a region of $3.0. As of writing, NEAR is trading at $4.2, close to a major resistance before it breaks to the upside.

NEAR Weekly Chart Analysis | Source: NEARUSDT On Tradingview.com

The weekly chart for NEAR shows it is facing major resistance of $4.73 after a reversal from the low of $3.0

Breaking out of this resistance would send the price of NEAR to a region of $6.4 – $7

Weekly resistance – $4.73

Weekly support – $3.0

ATH – $20.1

Daily Chart Analysis Of NEAR 
NEAR Price Analysis On The Daily Timeframe | Source: NEARUSDT On Tradingview.com

Major support level on the daily chart (1D) – $3, $1.8

Major resistance on the daily chart (1D) – $4.72

NEAR on the daily chart shows not much buying or selling activity, just in a range or channel that needs to be broken to the upside or downside.

The volume on the 1D  chart shows less buying and selling with the relative strength index (RSI) above the 50 mark area.

If the bulls can step in and push NEAR to the upside, then the range at which NEAR is trading will be broken, sending the price to $6.0

If the price of Near is broken to the downside by bears, $3 – $2.8 are acting as strong support that has held NEAR throughout the downtrend and can be seen as a major support area.

For investors applying a dollar cost average strategy, this could be a good accumulation level. Dollar Cost averaging is a strategy employed to buy crypto assets with a sum of money in bits over time or a strategy used to buy crypto assets at market levels as the assets make reversals.

NEAR Price On The 4H Chart
NEAR Price Analysis On The 4H Chart | Source: NEARUSDT On Tradingview.com

On the 4H chart, NEAR looks similar to the chart on the 1D timeframe, just ranging and trying to break above the resistance region. NEAR, in general, looks good based on a fundamental crypto market analysis.

With current market conditions, it will be worth accumulating for the bull run as it has so much potential for the upside.

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Coin Of The Week – Optimism (OP)

Optimism has been one of the best-performing altcoins, over the past weeks.

Optimism Rollup network is one of the many blockchain solutions trying to solve Ethereum scalability solutions.

Related Reading: How High Can Ethereum Go Before The Merge

OP has shown a powerful bullish trend and continues to show why this is a crypto coin to accumulate for the bull run.

Daily Chart Analysis Of Optimism (OP)

Optimism (OP) started its bullish trend from the low of $0.45; after breaking out from the ranging channel with a resistance of $0.58, it has maintained an upward trend for the past weeks, going as high as $1.96, which is more than 300%.

Daily low – $0.45

Daily high – $1.96

Daily supports – $1.34, $0.93, $0.45

OP 1D Chart With Support Levels On The Daily Timeframe | Source: OPUSDT On Tradingview.com

OP on the daily chart looks good with a strong uptrend over the past few days. 

The structure of the bullish trends remains intact but accompanies it with a low volume showing that we could be coming to the end of the bullish trend.

The support on the 1D charts for OP has already been indicated to allow possible accumulation or Dollar Cost Averaging (DCA) 

Dollar Cost averaging is a strategy employed to buy crypto assets with a sum of money in bits over time or a strategy used to buy crypto assets at market levels as the assets make reversals.

As of writing, OP is trading at $1.567 and could go to $1.34, which is the nearest support for accumulation.

This support corresponds with the Fibonacci retracement of 61.8%, a healthy pullback for all crypto assets that must maintain a strong bullish uptrend.

 OP would have difficulty breaking its All Time High (ATH) of $2.2, but should this region be broken; OP will continually in an upward trend or a price discovery to form a resistance and major support.

Major support – $1.54, $0.93, $0.60, $0.45

Major resistance – $2.1

OP On The 4H Chart

On the 4H chart, OP shows a bearish divergence sign – meaning we could be coming to the end of the bullish trend that has lasted for several days. 

OP Showing A Bearish Divergence On The 4H Chart | Source: OPUSDT On Tradingview.com

OP is currently trying to break below the ascending wedge on the 1H timeframe; a break and close below would mean going down to the next support. 

OP Breaking Downward Of The Ascending Triangle On The 1H Chart | Source: OPUSDT Tradingview.com

OP holding above $1.1 means the bullish structure is still valid, but a break to the low of this range would invalidate the setup.

Major supports on 4H – $1.1, $0.9

Major resistance on 4H – $2.1

OP, in general, looks good both in the bear market and in the next bull run; this is one of the assets with a good use case and a very strong community behind it.

Related Reading: TA: Bitcoin Price Struggles Below $25K, Signs of Double Top Emerges

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How High Can Ethereum Go Before The Merge

The Ethereum “Merge” has become a hot topic among top crypto analysts after the incident that led to the collapse of the Ethereum network in the sale of Otherside by Yuga labs, with nearly $200M lost as gas fees.

Related Reading: Proof of Work Vs Proof of Stake – Laneaxis

The Ethereum merge, also known as Ethereum 2.0, is the upgrade of the existing execution of the Ethereum layer 1 from proof-of-work (PoW) to proof-of-state (PoS), Beacon chain.

POW was first used by the early pioneers of the blockchain Bitcoin and Ethereum. It aims to achieve decentralization and security by using miners to decode cryptographic algorithms or puzzle-like maths. 

As the demand increases for transactions, it becomes slow, gas fees increases, and resources intensify.

Proof-of-Stake (POS) is similar to POW, just that users authenticate transactions on the blockchain employing stake and get rewarded. 

“The Merge” is a massive step for Ethereum and the community; it is important to note that the Beacon chain is shipped separately from the Ethereum mainnet. It means the Beacon works in parallel as POS, and all accounts, transactions, balances, and smart contracts remain secured by POW  until the final merge to POS.

Ethereum Price Remain Strong Despite Daily Resistance

Ethereum keeps showing great strength of bullish movement as the anticipated merge gets closer. Ethereum is currently trading at a resistance of $1,730 at the point of writing on the 1D daily chart. 

A break of this region would send Ethereum’s price to $2,400 and even higher if the bulls and sentiments of the market stay strong ahead of the merge.

ETH 1D Resistance On Daily Chart | Source: ETHUSDT On Tradingview.com

Ethereum looks really good from the chart on a daily timeframe which is a good sign as we head into a new month. Due to a low volume on a weekend, Ethereum would have a tough time breaking the resistance.

If Ethereum is unable to break out successfully, we could retest the region of $1,600 as the nearest support before a major upside movement.

Ethereum Price On the 4H Chart

Ethereum is currently facing resistance at $1,730 with a low volume accompanying it. If there is going to be a pullback over the weekend the support at $1,600 would be a good entry.

 

ETH Faces Resistance At $1,730 With Low Volume | Source: ETHUSDT On Tradingview.com

Related Reading: Will The Ethereum Merge Skyrocket ETH?

The relative strength Index (RSI) is above the 50 mark indicating the market looks healthy but with less price action. With bulls pushing Ethereum in the coming days, breaking the resistance at $1,730 would not be much of a challenge.

 

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Bitcoin Eyes $28k With A One-day Breakout

Bitcoin eyes $28,000 after a major breakout from the 1D 50 EMA resistance with a good volume. The Crypto market looks bullish on the low timeframe as major cryptocurrencies and altcoins gain relief bounces.

Market Dumps Ahead Of FOMC Meeting 

The major buzz around the financial market over the past few days was focused on the FOMC. This has led to major cryptocurrencies dropping from key supports and resistance, with the likes of Bitcoin trading at around $20,700 and Ethereum going down to $1,376.

Related Reading: Bitcoin Slips To 1-Week Low Ahead Of Fed Hike Rate Decision

Before the FOMC meeting, rumors of a hike in rate led to the crypto market bouncing, with BTC rising to $22,000.

On Wednesday, the Federal Open Market Committee (FOMC) raised its interest by 0.75% marking the highest rate increase since the 1980s. The Federal Reserve Chairman Jerome Powell stated, “unusually large increase could be ideal in future meetings and a period of economic slowdown will be vital to bring back price stability.”

Major cryptocurrencies in the market after the news have seen a good response, with BTC trading above $23,100 and approaching a crucial 1D 50 EMA resistance. Leading to many discussions in the market applauding the rally as it could signal more upsides and relieve bounces for altcoins.

Related Reading: Bitcoin Makes Surprise Climb As Fed Discloses 0.75 Point Rate Bump

 

“If 75bps gave us this pump, 100bps would send us to ATH surely,” @Livercoin

 

“Ideal ingredients for a Summer Relief Rally are there:

  • Powell becoming dovish on policy and more data-dependent. 
  • $ETH merge is coming up in September.
  • Serious impact on 3AC, Celsius, and more already priced in.
  • I’m seeing $ETH to $2,400 and $BTC to $28,000-30,000.”  @CryptoMichNL

Bitcoin Breaks One-day 50 EMA With Good Volume

Bitcoin rallies with good volume, surging to a 10% increase earlier today, and if bulls can breakout above $24,300, then we would be up for a relief bounce up to $28,000.

This is a region that BTC has had a tough time breaking after trading for more than a month in a range. 

 

BTC 1D 50 EMA Breakout | Source: Tradingview.com

 

If BTC fails to break this major resistance, bulls would likely revisit the $21,000 – $20,700 to build more momentum for a potential breakout. If BTC fails and falls below $20,000, this will be invalidated as bears will have more power over the bulls.

The State Of Bitcoin On The 4H Chart

BTC on the 4H timeframe looks good as it needs to break above a minor resistance of $24,200 to soar higher to the region of $26,800 – $28,000.

BTC On The 4H Chart Approaches $24200 Resistance | Source: Tradingview.com

 

The overall market sentiment is improving after months of downtrend and loss of interest in the crypto market. The crypto market is in high expectation of the Ethereum merge that will come up soon.

As BTC recovers with other major altcoins, more relief and belief would return to the market.