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ETH - Massive Support Ahead!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 After breaking below the $3000 round number, ETH dipped by over 30%. Currently, ETH is hovering around a strong rejection zone as it is the intersection of the $2000 round number and support, and the lower red trendline. 🏹 The highlighted red circle is a strong rejecting area to expect the bulls to kick in from. 📚 As per my trading style: As #ETH approaches the red circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) Which scenario do you think is more likely to happen and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
1
Phemex Analysis #15: TON to the Moon or Back to Earth? For those who read our previous post on PHEMEX:TONUSDT.P (Phemex Analysis #11: TON_Is it Time to Buy the Dip?), we hope you managed to secure a favorable entry point during the dip. The recent news of TON's inclusion in Binance Launchpool has sent shockwaves through the crypto community. Naturally, the question on everyone's mind is: Will this development significantly impact TON's price? Let's break down potential scenarios for TON's price movement: 1. Breakout Rise If the Binance Launchpool listing catalyzes a positive sentiment around TON, we could witness a price surge that breaches the $6.9 resistance level. Accompanied by robust trading volume, TON might then challenge the subsequent resistance levels at $7.6 and $8.2. It's crucial to remember that such rapid ascents often lack sustainability. Therefore, considering a quick profit-taking strategy might be prudent. As always, the broader market sentiment should be a key factor in your trading decisions. 2. Price Decline Conversely, if the market remains indifferent to the Binance Launchpool news, TON's price could potentially retest the $4.8 support level or even dip lower. In such a scenario, exercising caution is paramount. 3. Continued Consolidation There's also a possibility that TON's price will oscillate within a range of $6.0 to $6.9 for an extended period. This consolidation phase can be frustrating, but it's essential to maintain patience and await a clear breakout signal before establishing long or short positions. Additional Considerations: Fundamental Analysis: While technical analysis provides valuable insights, it's equally important to consider TON's underlying fundamentals. Factors such as the project's development progress, team strength, and community engagement can influence its long-term trajectory. Risk Management: Regardless of your chosen strategy, implementing robust risk management practices is non-negotiable. Set stop-loss orders and take-profit levels to protect your capital and secure potential gains. Diversification: Don't put all your eggs in one basket. Diversifying your crypto portfolio across different assets can help mitigate risks. Note: Pulse is offering $500 PULSE to all new Phemex users. Sign up for Pulse quickly! Disclaimer: This is NOT financial or investment advice. Please conduct your own research (DYOR). Phemex is not responsible, directly or indirectly, for any damage or loss incurred or claimed to be caused by or in association with the use of or reliance on any content, goods, or services mentioned in this article.
by Phemex
SEI - Best BUY BACK Zones ApproachingSEI is an altcoin that I have high hopes for. Unfortunately, SEI hasn't yet bottomed out and is still trading in a bearish trend, making lower highs and lower lows whilst the RSI is under 50 (THREE Bearish Signs, Short to Near term). However, we have reason to believe that the end of the bearish cycle may be very close - and now it is time for re-accumulation. This is my favorite part of any cycle, since this is where you prepare for the next bullish impulse wave up and make sure that you don't miss the rally and/or get left behind. I'm watching three zones for potential re-accumulation. Watch to see where the best places are to buy SEI. ____________________________ BINANCE:SEIUSDT
Long
by CryptoCheck-
Phemex Analysis #14: ETH - What's Next? PHEMEX:ETHUSDT.P recently breached its $2800 support level before rebounding to the $2700 range. This significant drop has transformed the previously supportive $2800 level into a formidable resistance barrier, currently preventing further upward momentum. Unlike Bitcoin, which experienced a notable price surge following the launch of its ETF, Ethereum's ETF has thus far failed to ignite a similar rally. Given the current market dynamics, several potential price trajectories for ETH emerge: Bullish Scenario A decisive breakout above the $2800 resistance could signal renewed bullish sentiment. However, substantial selling pressure is anticipated at the $3300 and $3600 levels, which could hinder sustained upward movement. Without a catalyst such as significant positive news or a broader market uptrend, overcoming these resistance zones will be challenging. Bearish Outlook Alternatively, ETH might undergo a downward correction, potentially retesting the $2000 support level. This level could serve as a consolidation area before a potential rebound. If bearish pressure intensifies, a breakdown below $2000 to the $1800 level cannot be ruled out, though such a scenario warrants caution. Range-bound Movement A more likely scenario involves ETH consolidating between the $2500 and $2800 levels. This sideways price action can offer opportunities for range-bound trading strategies, such as the use of Neutral Grid bots. However, implementing stop-loss orders at both $2500 and $2800 is crucial to manage risk effectively. For investors seeking more pronounced price movements, adopting a wait-and-see approach until a clear directional bias emerges may be prudent. Ultimately, the future trajectory of ETH will depend on a confluence of factors, including overall market sentiment, investor behavior, and the impact of regulatory developments. Note: Pulse is offering $500 PULSE to all new Phemex users. Sign up for Pulse quickly! Disclaimer: This is NOT financial or investment advice. Please conduct your own research (DYOR). Phemex is not responsible, directly or indirectly, for any damage or loss incurred or claimed to be caused by or in association with the use of or reliance on any content, goods, or services mentioned in this article.
by Phemex
1
ALTS that will SURVIVE 2024 - and BEYONDIn today's post I'd like to invite you to add the alts YOU think will survive, and why. Add in the comment section! Incase you missed yesterdays post... I remember the good 'ol days, when the amount of options you had was limited to one hand. First there was Bitcoin. Then came ETH, LTC, XRP and BCH (Bitcoin Cash). And a few other's later came like Bitcoin Gold and CRV. But oh man, were those the days. Crypto felt oddly "safer" back then, despite mt gox and pyramid schemes running rampant. Because today - the enemy is actually in the camp... New alts are being released every hour (probably more) and it's just the one airdrop to the next rug. Lot's of progress has been made in this space which is blockchain, but we're still not really seeing the original promise of Bitcoin being fulfilled (fast and affordable cross border payments, ) amongst others. Today, it has become close to impossible to separate the crop from the cream in terms of coin accumulation. If you bought BTC two years ago, or ETH, or LTC - you'd currently be in profit. However, some alts don't even exist for a month after release date never the less a year or more. So let's talk about which altcoins I believe have a future FOR SURE. Remember that this is a highly debatable point; but I am going to point out the few that I believe will survive (at least past year and possibly beyond). 👉1) Bitcoin Bitcoin is not an altcoin, it is the original crypto. The KING. The first commandment and promise of a fair, open and transparent future on the blockchain. BTC's price may be overvalued occasionally, but it will always have the benefit of being first. And with so many institutional investors, I think it's a safe play for the foreseeable future. 👉 2) Ethereum King of the alts, first of it's kind. Ethereum is the world's first smart contract platforms which remains the most popular choice among developers even today. Following Bitcoin's decentralized concept, Ethereum has become a leader in smart contract platforms and dApps. Eth is here to stay. 👉 3) Solana Competitor now to Ethereum, SOL has previously surpassed ETH (not in price). With over 95 million transactions daily, Solana has become the fastest blockchain and recently surpassed Ethereum in Total Economic Value. Many devs prefer Solana, and I believe it will stick around for the foreseeable future. 👉4) Dogecoin I hate how dependent Doge is on Elon Musk. But, for some reason, Mr Musk has a fascination with Doge and has promised many times to include it as a payment option on X (formerly Twitter). Even though it seems like a pie in the sky, something like that would significantly increase the value of Doge. I don't see it as a "forever" coin, but definitely on the list. I think a key point to note here, is that back then, they (the founders) were doing something revolutionary. They were and are the titans of the industry. Today, anyone with GPT can create a functioning alt that "serves a purpose" or has "fundamental use case" in some way. It's true that AI is revolutionary, and I am very bullish on the concept of AI and the promise of automation for human kind. But this far, it hasn't been profitable, yet. OpenAI makes losses and cryptoai is just leveraging off the larger AI, or the concept thereof... Sure, there are privately trained models, but at the current moment it takes a tremendous amount of resources (time, money, physical space) to do DL or Machine Learning, which if OpenAI cant make profitable... then neither can the cryptoai created by john, steve and bob. 10 Other ALTS that will probably make it past this year: 1) Shiba Inu (because people love it) 2) XRP (because many can't let go) 3) Cardano (because it has a cult following) 4) BNB (Binance supporters maybe?) 5) Chainlink (because oddly enough it's survived for this long) You wouldn't catch me dead holding those 5, but still - I do believe they will survive for some time still. Now, coins that I will actually buy and hold: 6) Kaspa (potentially a revolutionary alt) 7) Render (potentially an ai winner) 8) Monero (still the best privacy coin) 9) Sei (potentially a revolutionary alt) 10) Aave (still the best for borrowing and lending) Don't miss the message here - you can still TRADE altcoins. There are good trading opportunities and setups even for the worst alts. I know this because we trade them daily. But this post is not about trading opportunities - it's about the future, potentially the far future. Who will likely survive and why. Alts that may be worth accumulating an that probably won't rug in a month's time. I hope you can take it for what it is intended to be! ______________________________
Long
by CryptoCheck-
4
Shib path to November 2024 - 2025 Hola Shib-inu fans, I have been getting request while I was away - asking what's the next move for Shib in this current market today. Along with questions such as: Why is it crashing so much? Should you buy, hold, or sell? Where do you see the market in the next year? To answer that question is simply put I can not answer that directly at this time. Reason being, the market is currently influenced by the United States political and economical climate and is likely going to make an even greater impact based on which candidate wins office. Republicans🐘 vs 🐎Democrats Currently control the market movement, and if you don't believe me, after Donald Trump was shot, Republicans believed that this would land Trump a landslide victory, so Whales and influencers to the market flooded the main crypto wallets BTC and ETH among others with rally that led the price of bitcoin from a 56k lost back to a 70k return. Another example of how the US as well as China has a major controlling factor on how the market moves, is the fact that this most recent crash is based on the US CPI report being unsatisfactory forcing both the crypto and SnP market to crash from that outcome alone. This is mostly the results of Bitcoin and its holders trying desperately to have ETF's take center stage and by doing so gave much of the control over financial growth to the banks and the governments that control them. That's the price we paid to have ETF's we are now apart of the regulatory stock market which is mainly control by the US market base. So to understand where the next move for shib may lead is basically impossible to tell depending on who wins in November, so to help with this issue, I made a pathing map, and possible areas of concern for holders to look out for on a modified day chart converted to a weekly chart. This path starts and end in November of 2024 to 2025 where if the republicans win, it will influence buying power from whales looking to capitalize on the returning president trump and the republican party new policies that want to put in place that is more beneficial to those with wealth they which to extend further. vs Another democratic win where policies may not change to much but will be a greater impact on the financial markets as a whole which will not rally whales if any at all and will likely cause a selloff in much of the markets not just in crypto. So hopefully this map helps guide you to a positive path to riches or avoid a possible path to ruin.
by Grandmaster_Oz
9
Phemex Analysis #13: WIF 63% & 86% Wild RIde!PHEMEX:WIFUSDT.P has exhibited extraordinary price action, plunging 63% from its recent peak and subsequently rallying 86% in a matter of days. Such dramatic swings highlight the inherent risk and reward associated with this asset. Potential Price Scenarios Given WIF's recent volatility, it's crucial to consider multiple price paths before making your trading decisions: 1. Bullish Continuation: If the current uptrend gains momentum, immediate resistance levels are at $2.0 and $2.35. However, a bearish macro environment could cap gains. Traders should monitor volume and RSI for confirmation of strength. 2. Potential Double Bottom: Alternatively, the price might form a second low around $1.0. Ideally, this low would be higher than the previous one, followed by a period of consolidation. A higher RSI compared to the first low could indicate a stronger base, making it a potential accumulation zone. 3. Bearish Breakdown: A decisive break below the $1.0 support with increased volume signals a potential significant downtrend. Given WIF's correlation with BTC, a sharp decline in Bitcoin could exacerbate downside risks. Exercise caution in such conditions. Trading Considerations Risk Management: Due to WIF's high volatility, implementing strict stop-loss orders is essential. Leverage: Using high leverage in WIF trading can easily lead to liquidation. Carefully consider leverage to manage risk effectively. Market Sentiment: Stay informed about overall market trends and sentiment, particularly Bitcoin's, as they can significantly impact WIF's price. This analysis provide a potential outlook and trading consideration for WIF's price movement. However, it's essential to conduct thorough research before making any trading decisions. Note: Pulse is offering $500 PULSE to all new Phemex users. Sign up for Pulse quickly! Disclaimer: This is NOT financial or investment advice. Please conduct your own research (DYOR). Phemex is not responsible, directly or indirectly, for any damage or loss incurred or claimed to be caused by or in association with the use of or reliance on any content, goods, or services mentioned in this article.
by Phemex
MEW scalp - August scalping journey trade Nr. 4No loss so far in this month, lets try to continue with this streak. ⚡ Late night session for me today and I am possibly holding this one over the night if it gets filled. I am trying this bid on MEW as I told you just slightly different. I am going to bid the 4H Supply Breaker with a smaller stop loss. I may be updating it later in the night so if you don't like to hold it over the night, don't do it. Risky setup because it's going to run during the night so manage accordingly. 4-Hour Supply Breaker: The 4-hour supply breaker is identified on the chart. This zone indicates a previous area where selling pressure was significant, but now it could act as a strong support area, hence termed a "breaker." Break of Structure (BOS): Multiple Breaks of Structure (BOS) are marked on the chart, showing key levels where the market has shifted from a downtrend to an uptrend, confirming the change in market sentiment. 4-Hour Fair Value Gap (FVG): The 4-hour Fair Value Gap is another critical zone. This gap often attracts the price to fill it, providing a potential area for entry. 12-Hour Fair Value Gap (FVG): Additionally, there is a 12-hour FVG, which can serve as a further confirmation of the support level and the potential for price to rebound from this zone. Holding the position overnight adds to the risk since the market can experience volatility during non-active hours. It is crucial to be comfortable with this aspect of the trade.
Long
by stromm_by_wmc
2
What about altcoins, will the "BULLRUN" begin !What about altcoins, will the "BULLRUN" begin ! In this review: >Others Marktecap >Total2 Marketcap >Total3 Marketcap >Others Dominance >BTC Dominanace >ETH/BTC >ETHUSD many forms >ETHUSD/NVDA Lets start with Others Marketcap --We see that the volume is slowly increasing in the retest zone. this is positive for us. When we examine the Rsı levels, we see that it is at the covid level. for such an index, this is "oversold" RSI(14) 1w and Gaussian Channel CM Slingshot and LMACD -------------------------------------------------------------------- TOTAL2 Marketcap 1w level 1= Accumaltion Trend mildline level 2= Bullrun 1008 passed from the summit to today. That's enough :D Total2 with Keltner Channel ----------------------------- Total3 Marketcap "SAME" 2020 vs 2024 ! -------------------------- Others Dominance is waiting for the UP movement at the channel bottom leve =) ----------------------------------------- ETH/BTC 1w 2016-2024 ------------------ ETHUSD CHart 1/5 Ethereum Log Curve Zones Chart 2/5 RSI Level and 1008 days 2020 vs 2024 Chart 3/5 Keltner Channel // Top, Bottom and Retest zones Chart 4/5 -Bullrun EVE Chart 5/5 CYCLE chart ( just some MATH:D) Parallel Channel MODE ------------------------------------------ TOTAL2/Nasdaq 3...2...1... GO ! ---------------------------------------- ETHUSD/NVIDIA Its Ready =) When you analyse all these chart, the following rings in your head: >>>ALTSEASON is inevitable.
CRYPTOCAP:OTHERSLong
by Cryptollica
18
Total2, Crypto Market without BitcoinFurthermore, Total2 also gave us the opportunity we were looking for, wicking straight through the $790bn level down to $730bn before closing above and now sitting at $852bn. A possible scenario which I can't rule-out from here is trading back up towards $950bn resistance and correcting back down once more, this would lean into Bitcoin testing $60k resistance before a further pullback later this week or early next week. Once again, the levels which Alts are now trading must be considered as opportunities and nothing else. A DCA strategy should now be deployed with more aggressive action being taken in the event of one further pullback. As ever, this information is only my opinion and not financial advice, always DYOR and only risk what you can afford to lose.
CRYPTOCAP:TOTAL2Long
by ZeroGravityGB
ALTS That are INCREASING as BTC Dips1) NOTUSDT BINANCE:NOTUSDT Great bounce from the support, RSI bottoms: strong in the 4h: 2) RUNEUSDT KUCOIN:RUNEUSDT From the 1h up to the daily, it seems as though RUNE is increasing after establishing a bottom of being oversold: 3) AVAXUSDT BINANCE:AVAXUSDT AVAX makes a turn around after bottoming out in the buyback zone: 4) BNBUSDT BINANCE:BNBUSDT BNB up 20 % in two days as buyers scoop up lower prices: 5) JUPUSDT BINANCE:JUPUSDT JUP increases 16% in one day: ________________________________
Long
by CryptoCheck-
Bitcoin's Candle Close Today Is Significant - Here's Why.Traders, Just want to take a minute to focus on two items from my chart. First, you will notice that yesterday we dropped from our bull flag and nearly re-tested my 48,415 neckline from that inverse head and shoulders pattern we have been tracking. I had stated in yesterday's video that I assumed we would re-test the neckline much sooner and that since we didn't re-test earlier that maybe the bull channel would hold price up and inside of it until the bulls gained enough momentum to break to the upside. So far, the bull channel has held. The wicks poking down and through the bottom side of the channel aren't as significant as a body close below the channel. But yesterday's wick down can pass as a re-test of the neckline, though a body touch and close would be most positive. At any rate, you can see that the market is conflicted at the moment. The body of yesterday's candle closed slightly below the bottom of our channel, indicating that the market was ready to sell down further on any whisper of FUD. And today's body thus far is just slightly above the bottom of our channel though the candle formation itself is bearish. All this indicates at the moment that further selling remains a priority for the market pending news. Unless there is positive news and a strong close on today's candle back inside of our channel, we can expect that there will be more selling to come. On the other hand, a strong bullish move to the upside today and close inside of our channel may indicate that buyers are ready. However, make no mistake, the move must be strong and the candle close must give us another percent or two. Watch closely.
INDEX:BTCUSD
by stewdamus
We are due a 2017 style ALT season.One for the memory banks! Now do we actually get what we are "owed" ?? :) We don't know and nothing is owed to us of couurse But Selling too soon could be quite disastrous... as many peopleI speak to say to me 5X - 10X I am out.. Which may be prudent If you are out. Stay out and don't FOMO back in again near the tops So it's best to scale out in my opinion last cycle was a quite difficult Alt season ... some bag holders actually did not get to experience any euphoria Hence why I am leaning to an exsplosive alt season BTC at $70k doesn't feel euphoric so what will it take?
CRYPTOCAP:TOTAL2Long
by BallaJi
2
SOL aint looking that goodYes, the market structure isn't really broken and it hasn't lost any major support Yes, it can go higher, a lot higher, and yes it's been one of the best performers of this cycle . Which makes it rather risky to short it. But it doesn't change the fact that it: - Failed to beat critical levels - By being one of the best performers, retail is loving it. - Everyone is too comfy in longs. The level i had for SOL back in last year happened to be the exact bottom, so I'm being cautious here.
Short
by cryptokebab
1
SOLANA 1D RANGE There is no denying the last few months in crypto have been frustrating to say the least. With a brutal seemingly endless chop despite some very bullish events such as the halving, BTC & ETH ETFs, institutional interest and buying, presidential candidates in support of the industry etc. Bitcoin still struggles to break and stay above its '21 ATH @ $69,000. For altcoins, and in particular SOL, this means they bleed as well and more often than not, they bleed more than BTC. Since range highs we've seen multiple retests of the lows and no retests of the highs, currently price has lost the range midpoint after hitting diagonal resistance and could potentially be targeting range low once again. The difference this time is the 1D 200EMA which usually serves as a Bullrun launching pad will be above that range low, any acceptance below this moving average is catastrophic for SOL. SOL has recently overtaken ETH in daily DEX volume more than once in the recent past, which has signalled a shift in on-chain preferences for traders of lower-cap coins. This could help to keep SOL afloat compared to other L1'S and alts in general however if the environment truly is risk-off then it may not be enough. From a bulls standpoint you'd like to see SOL hold price in this bullish Orderblock and at the worst $138 which is where daily support & 1D 200EMA is situated. With rate cuts predicted to be coming in September, it feels like a survive the next 6 weeks and thrive in Q4. Until then it's capital preservation market conditions.
by ProR35