PHEMEX:TONUSDT.P experienced a meteoric rise from $2 to its all-time high (ATH) of $8.284, representing a staggering 400% increase in just four months. While the broader cryptocurrency market faced a downturn since March, TON demonstrated resilience, continuing its upward trajectory. However, the recent drop below the 1-day 50 EMA and formation of a lower high...
The recent surge in PHEMEX:SOLUSDT.P (SOL) price, fueled by the buzz surrounding its "Blinks" feature and speculation surrounding a potential Solana ETF launch, has drawn significant attention from the market. As we analyze the current price action, it's crucial to understand the key resistance and support levels that could shape SOL's future trajectory.
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In this post, we will break down PHEMEX:PTUSDT (PT)'s price performance since its launch, its gains, its resilience, its potential future price movement, and finally, trading suggestions.
Overview of PT's Performance
Launch and Initial Growth
Launch Date: November 30th, 2023
Initial Price: $0.06
Since its launch, PT has demonstrated an extraordinary...
The news of the Ethereum Spot ETF launching next Tuesday has been circulating widely online in recent days. Will the launch trigger a bullish run for PHEMEX:ETHUSDT.P ?
Here are some key points to consider regarding the ETH price.
Impressive Rise: ETH rose from $1565 (October 20, 2023) to $4098 (March 12, 2024), a significant 161.7% increase in just five...
PHEMEX:WLDUSDT.P has experienced a sharp price appreciation following the company's announcement of an extended token unlock schedule for early investors and team members. While such news typically catalyzes upward price movements, it's essential to approach these pump-driven rallies with a critical eye.
Historically, price increases primarily driven by...
PHEMEX:BTCUSDT.P has recently surpassed the $63,000 resistance level, which has now turned into a support level (weak support). This is a significant development as $63,000 has historically been a formidable barrier for upward movement. The current market conditions suggest a potential shift in momentum, with Bitcoin trading above this critical level.
Here are...
Since October, PHEMEX:1000PEPEUSDT.P has been a standout performer in the bull market, showcasing an impressive gain of 2,300% (from $0.000747 on October 23rd, 2023, to $0.0172 on May 27th, 2024). However, recent market signals indicate a potential deceleration. The formation of a lower high on June 26th and a significant decline in the Relative Strength Index...
Last week, Bitcoin experienced a significant downturn, breaking through its critical support level at $56,500 and dropping to a low of $53,300. Currently, the market is in a consolidation phase, trading within the range of $54,000 to $58,000.
Here’s a deeper analysis of the potential scenarios unfolding:
1. Potential Upside Scenario: If Bitcoin manages to climb...
The price of Ethereum (ETH) experienced a significant decline today, breaching the previously strong support zone at $2,850 . This price movement indicates a potential shift in the market sentiment.
Traders are now closely watching the next support level at $2,250 . This zone is considered historically significant and could offer some stability to the price....
Bitcoin dropped past the $61,500 support level last week and attempted to reach the $56,500 support zone for the first time, but failed. The price then rose back to $63,884 .
Over the past few days, Bitcoin has started dropping again and today it fell even lower to $57,850 (lower than the previous low of $58,276 ).
A resistance zone is beginning to form...
PHEMEX:BTCUSDT.P
At the time of writing, BTC continues to drop, now testing the critical $61,500 support zone. A retrospective look at the BTC daily chart reveals several Lower Highs on April 8th, May 21st, and most recently on June 7th. As market enthusiasts are aware, a pattern of lower highs and lower lows indicates bearish momentum.
Fortunately, we have...
