XVS / TetherUSLong
TradeCityPro | XVS & Bitcoin : Key Levels and Insights
👋Welcome to TradeCityPro!
In this analysis, I want to review XVS for you. This token is the native token of the Venus project, which operates on the BSC network and specializes in the DeFi sector. It boasts the highest TVL on this network. This platform allows users to collateralize their assets and borrow funds proportionate to their collateral. Currently, the platform's TVL stands at $1.8 billion, and XVS ranks 361 on CoinMarketCap.
👑 Before analyzing XVS, it's better to take a look at Bitcoin to better understand the market conditions. The Bitcoin analysis is done on the 4-hour timeframe.
⏳ 4-Hour Timeframe: Correction Phase in Bitcoin
On the 4-hour timeframe, after breaking the $72,771 resistance (the previous ATH), we witnessed a very sharp, high-momentum move up to $99,022. Currently, Bitcoin has entered a correction phase. The first significant support in this timeframe is $92,004, which overlaps with the 0.236 Fibonacci level. The price has already reached this level. At the same time, the SMA99 has also aligned with the candles in this area, turning this level into a very strong PRZ.
✨ The RSI oscillator has triggered divergence, exiting the lower Bollinger Band several times, which has eliminated the bullish momentum. However, the most important thing in a bullish market is that when the RSI approaches the 30 level, it often represents a good buying opportunity. Using the Bollinger Band indicator, we can better determine trend reversals and RSI triggers. However, all of these require price confirmation, which can be achieved through Dow Theory rules or short-term resistance breakouts.
📊 On the other hand, the volume of corrective candles is increasing, which is not a good sign for the correction's end and makes the bearish scenario more likely.
🔑 If the $92,004 support breaks, the next key support is $86,841, which aligns with the 0.382 Fibonacci level and is likely to serve as a major support during this correction. For now, I won't discuss other supports; if $86,841 is broken, I'll determine the rest later.
✅ XVS Analysis: Weekly and Daily Timeframes
📅 Weekly Timeframe: Long-Term Box
On this timeframe, the price previously formed a long-term box between $3.17 and $9.19. After breaking this range, a new box was formed between $5.29 and $17.43, where the price currently trades in the lower half of the box and is struggling with resistance at $9.19.
🔼 The previous weekly candle was very strong and powerful but couldn't break the $9.19 level. The current candle is also rejecting from this level. For spot buying, breaking this resistance or $17.43 is suitable. The potential targets are $40.22 and $140.26, with $140.26 being the ATH for this coin.
📉 In case of a drop, the first support is at $5.29, and on the RSI, there is a significant support level at 39.32, which can prevent a price decline. If this support is broken, the next level is $3.17, the all-time low for this coin.
📅 Daily Timeframe: Strong Resistance Zone
On the daily timeframe, the $9.19 resistance can be drawn as a range between $8.18 and $8.91, which is very important. Currently, the price is rejecting from $8.91 and has dropped to $8.18.
🔍 The main and significant support on this chart is the ascending trendline, which previously experienced a false breakout. If the price stabilizes below $8.18, the next corrective target will be reaching this trendline.
💣 If the trendline breaks, the next support is $5.98, which is a strong resistance since the market previously reversed from this level after a false trendline breakout and reached the $8.91 high.
🧩 If the RSI stabilizes above 66.27, the price can start pumping because it has already hit this level twice and been rejected. If the RSI breaks below 50, bearish momentum will enter the market, and the bearish scenario will strengthen.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
In this analysis, I want to review XVS for you. This token is the native token of the Venus project, which operates on the BSC network and specializes in the DeFi sector. It boasts the highest TVL on this network. This platform allows users to collateralize their assets and borrow funds proportionate to their collateral. Currently, the platform's TVL stands at $1.8 billion, and XVS ranks 361 on CoinMarketCap.
👑 Before analyzing XVS, it's better to take a look at Bitcoin to better understand the market conditions. The Bitcoin analysis is done on the 4-hour timeframe.
⏳ 4-Hour Timeframe: Correction Phase in Bitcoin
On the 4-hour timeframe, after breaking the $72,771 resistance (the previous ATH), we witnessed a very sharp, high-momentum move up to $99,022. Currently, Bitcoin has entered a correction phase. The first significant support in this timeframe is $92,004, which overlaps with the 0.236 Fibonacci level. The price has already reached this level. At the same time, the SMA99 has also aligned with the candles in this area, turning this level into a very strong PRZ.
✨ The RSI oscillator has triggered divergence, exiting the lower Bollinger Band several times, which has eliminated the bullish momentum. However, the most important thing in a bullish market is that when the RSI approaches the 30 level, it often represents a good buying opportunity. Using the Bollinger Band indicator, we can better determine trend reversals and RSI triggers. However, all of these require price confirmation, which can be achieved through Dow Theory rules or short-term resistance breakouts.
📊 On the other hand, the volume of corrective candles is increasing, which is not a good sign for the correction's end and makes the bearish scenario more likely.
🔑 If the $92,004 support breaks, the next key support is $86,841, which aligns with the 0.382 Fibonacci level and is likely to serve as a major support during this correction. For now, I won't discuss other supports; if $86,841 is broken, I'll determine the rest later.
✅ XVS Analysis: Weekly and Daily Timeframes
📅 Weekly Timeframe: Long-Term Box
On this timeframe, the price previously formed a long-term box between $3.17 and $9.19. After breaking this range, a new box was formed between $5.29 and $17.43, where the price currently trades in the lower half of the box and is struggling with resistance at $9.19.
🔼 The previous weekly candle was very strong and powerful but couldn't break the $9.19 level. The current candle is also rejecting from this level. For spot buying, breaking this resistance or $17.43 is suitable. The potential targets are $40.22 and $140.26, with $140.26 being the ATH for this coin.
📉 In case of a drop, the first support is at $5.29, and on the RSI, there is a significant support level at 39.32, which can prevent a price decline. If this support is broken, the next level is $3.17, the all-time low for this coin.
📅 Daily Timeframe: Strong Resistance Zone
On the daily timeframe, the $9.19 resistance can be drawn as a range between $8.18 and $8.91, which is very important. Currently, the price is rejecting from $8.91 and has dropped to $8.18.
🔍 The main and significant support on this chart is the ascending trendline, which previously experienced a false breakout. If the price stabilizes below $8.18, the next corrective target will be reaching this trendline.
💣 If the trendline breaks, the next support is $5.98, which is a strong resistance since the market previously reversed from this level after a false trendline breakout and reached the $8.91 high.
🧩 If the RSI stabilizes above 66.27, the price can start pumping because it has already hit this level twice and been rejected. If the RSI breaks below 50, bearish momentum will enter the market, and the bearish scenario will strengthen.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
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💰 Join the Telegram Channel Now: t.me/Tradecityproint
🏆 Best Crypto Exchange: bit.ly/tcpbit
🤵 Business Contact: Tradecityproteam@gmail.com
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