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Cryptoanalysis

DOGE: Falling Wedge BreakoutDogeCoin (DOGE) technical analysis: Trade setup : Bullish breakout from Falling Wedge pattern, which could signal that buyers have finally absorbed the supply from sellers and the price could reverse trends. Confirmation would come if price also breaks above $0.07 resistance. The following resistance is 200-day moving average ($0.08). Patterns : Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order. Trend : Downtrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance : Nearest Support Zone is $0.055. The nearest Resistance Zone is $0.070 (previous support), then $0.100, $0.115.
Long
by altFINS
IOTXUSDT 😶‍🌫️ Double Bottom Reversal Hey guys! We'll start monitoring the possible reversal for IOTX and I'm going to be straightforward: for this asset to start saying it's bullish we need to see a break above and close over 0.024 meanwhile we are trading in the range. Bullish scenario would play like this: First target: 0.019 then we'll TP For this to happen I'd like to see some sort of pattern like a double bottom or IH&S. Bearish scenario would go like this: Target open because it would be creating new all time lower lows we'd be then moving stop loss to entry as soon as in profits. But the trigger would be a close below: 0.015 I'm rooting for the bullish scenario as I'm a very hopeful person but we take what the market gives and be open to both scenarios always! Manage risk accordingly and never be biased. Happy trading! Kina 😶‍🌫️
by KinaStar
2
BTC: Channel Down BreakoutBitcoin (BTC) technical analysis: Trade setup : Bullish breakout from Channel Down pattern and above $28K resistance signals Uptrend resumption, with upside potential to $30K-$32K resistance zone. Pattern : Price was trading in a Channel Down pattern. With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within its channel trendlines. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout. Trend : Uptrend on Short-Term basis, Downtrend on Medium-Term basis and Neutral on Long-Term basis. Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance : Nearest Support Zone is FWB:25K , then $21.5K. The nearest Resistance Zone is $28K, which it broke, then $32.0K.
Long
by altFINS
ADA: Oversold at SupportCardano (ADA) technical analysis: Trade setup : Price broke out (bearish) from trading in a Channel Up pattern and below 200-day moving average ($0.35), confirming a downtrend. However, it’s now very oversold (RSI ~ 25) and near $0.25 support, hence we could see a bounce up near term. It’s a higher risk swing trade setup since overall trend is down. Trend : Downtrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bearish but inflecting . MACD Line is below MACD Signal Line and RSI is below 45 but momentum may have bottomed since MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing. Support and Resistance : Nearest Support Zone is $0.25. The nearest Resistance Zone is $0.30 (previous support), then $0.40, and $0.50.
Long
by altFINS
MKR: Approaching ResistanceMaker (MKR) technical analysis: Trade setup : Trends are mixed. Price remains inside the $600-700 support zone, which has repeatedly been an attractive entry area. If it can break above the 200-day moving average (~$676), price could signal potential trend reversal and revisit $800 thereafter. Maker is a well established DeFi platform with real users and revenues , which forms a solid foundation for investors looking to trade it. Trend : Uptrend on Short-Term basis and Downtrend on Medium- and Long-Term basis. Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance : Nearest Support Zone is $600 – $700, then $500. The nearest Resistance Zone is $800, then $1000 – $1100.
Long
by altFINS
GMX: Channel DownTrade setup : Price appears on the verge of bullish breakout from Channel Down pattern, which could be a beginning of a bullish trend reversal. We wait for confirmation – price needs to break and stay above $53 resistance zone. If it does, price could revisit $60 next. This is a higher risk trade setup since the overall trend is down. We highlighted GMX in Dec 2022 as our “Coin Pick” fundamental research as a big beneficiary of FTX fallout. Pattern : Price is trading in a Channel Down pattern. With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within its channel trendlines. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout. Trend : Downtrend across all time horizons (Short- Medium- and Long-Term). Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral). Support and Resistance : Nearest Support Zone is $40, then $26. The nearest Resistance Zone is $53 (previous support), then $60.
Long
by altFINS
XRP: Pullback in UptrendRipple (XRP) technical analysis: Trade setup : A rare asset that remains in an Uptrend. Following a bullish breakout from Channel Down, above $0.45, which could signal resumption of Uptrend, price has reached our target estimate of $0.55. Now we wait for price to either 1) break above $0.55 resistance to signal Uptrend continuation, or 2) pull back near $0.45 support for a swing entry opportunity. Trend : Downtrend on Short-Term basis and Uptrend on Medium- and Long-Term basis. Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45). Support and Resistance : Nearest Support Zone is $0.45 (previous resistance), then $0.40. The nearest Resistance Zone is $0.55, then $0.60.
Long
by altFINS
BTC: Channel DownBitcoin (BTC) technical analysis: Trade setup : After topping out at FWB:31K , price has been consolidating in a Channel Down pattern. Swing traders can trade the channel (Enter near channel support trendline and exit near channel resistance trendline). Trend traders wait for a breakout. Bullish breakout above $28K would indicate Uptrend resumption, with upside to $32K resistance. Bearish breakout below FWB:25K would indicate onset of downtrend, with downside risk to $21.5K thereafter. Pattern : Price is trading in a Channel Down pattern. With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within its channel trendlines. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout. Trend : Downtrend on Short- and Medium-Term basis and Neutral on Long-Term basis. Momentum is Bearish but inflecting . MACD Line is below MACD Signal Line and RSI is below 45 but momentum may have bottomed since MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing. Support and Resistance : Nearest Support Zone is FWB:25K , then $21.5K. The nearest Resistance Zone is $28K (previous support), then $32.0K.
Long
by altFINS
ETH: Pullback in UptrendEthereum (ETH) technical analysis: Trade setup : Price is still in an Uptrend on long-term basis. Recently it had a bearish breakout from Descending Triangle pattern, followed by a break below 1,700 support. It’s now reached 200-day moving average (~$1,630) and a long-term up trendline (blue line in chart), which could serve as support area. Price is also getting oversold (RSI < 30). Trend : Downtrend on Short- and Medium-Term basis and Uptrend on Long-Term basis. Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45). Support and Resistance : Nearest Support Zone is $1,700, which it broke, then $1,400. The nearest Resistance Zone is $1,800 (previous support), then $2,000 and $2,150.
Long
by altFINS
BCH: Descending Triangle BreakoutBitcoin Cash (BCH) technical analysis: Trade setup : Bearish breakout from Descending Triangle pattern, below $110 support, which confirms a downtrend. Price could revisit $95 support last seen in late 2022. Pattern : Price was trading in a Descending Triangle pattern. Typically, a breakout will occur in the direction of the existing trend. Most traders will take a position once the price action breaks through the bottom line of the triangle with increased volume, which is when the price should decline an amount equivalent to the widest section of the triangle. Trend : Downtrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bearish but inflecting. MACD Line is below MACD Signal Line and RSI is below 45 but momentum may have bottomed since MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing. Support and Resistance : Nearest Support Zone is $95. The nearest Resistance Zone is $110 (previous support), then $120, and $140 – $150.
Long
by altFINS
SHIB: Falling Wedge BreakoutShiba Inu (SHIB) technical analysis: Trade setup : Bearish breakout from Falling Wedge pattern, price made a new Lower Low, which confirms a downtrend. It’s also broken below $0.000008 support level that held up back in late 2023. However, it is very oversold (RSI < 25) near $0.0000055 support area and could bounce up near term. Notice that price actually reached that level (daily low point) and bounced up. It’s a higher risk swing trade setup since overall trend is down. Trend : Downtrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45). Support and Resistance : Nearest Support Zone is $0.0000055. The nearest Resistance Zone is $0.0000080 (previous support), then $0.0000100, and $0.00001200.
Long
by altFINS
1
BNB: Oversold at SupportBinance (BNB) technical analysis: Trade setup: Bearish breakout from Rising Wedge pattern and below 200-day moving average (~$300) signaled bearish trend reversal to downtrend. It is however quickly approaching $220 support area and is very oversold (RSI ~ 20), thus price could bounce up near-term. It’s a higher risk swing trade setup since overall trend is down. Patterns : Rising Wedge It usually forms after an uptrend and suggests a potential bearish reversal in the original uptrend. When price breaks the lower trend line the price is expected to trend lower. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout. Trend : Downtrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bearish but extremely oversold. (MACD Line below MACD Signal Line). RSI is Bearish (< 45) but extremely oversold (< 20), which could imply that price could briefly stabilize or bounce if it reaches Support. Support and Resistance :Nearest Support Zone is $220. The nearest Resistance Zone is $260 (previous support), then $300.
Long
by altFINS
SOL: Oversold at SupportSolana (SOL) technical analysis: Trade setup : Price broke below $20 support and 200-day moving average, which signaled resumption of downtrend. It dipped as low as $12 but bounced back to another support level of $15. However, it is very oversold (RSI < 25) and could bounce up near term. It’s a higher risk swing trade setup since overall trend is down. Trend : Downtrend on Short- and Medium-Term basis and Neutral on Long-Term basis. Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45). Support and Resistance : Nearest Support Zone is $15, then $11. The nearest Resistance Zone is $20 (previous support), then $25 – $30.
Long
by altFINS
BNB: Oversold at SupportBinance (BNB) technical analysis: Trade setup : Bearish breakout from Rising Wedge pattern and below 200-day moving average (~$300) could signal bearish trend reversal to downtrend. It is however quickly approaching $220 support area and is very oversold (RSI ~ 30), thus price could bounce up near-term. It’s a higher risk swing trade setup since overall trend is down. Patterns : Rising Wedge It usually forms after an uptrend and suggests a potential bearish reversal in the original uptrend. When price breaks the lower trend line the price is expected to trend lower. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout. Trend : Downtrend across all time horizons (Short- Medium- and Long-Term). Momentum is Bearish but extremely oversold. (MACD Line below MACD Signal Line). RSI is Bearish (< 45) but extremely oversold (< 20), which could imply that price could briefly stabilize or bounce if it reaches Support. Support and Resistance : Nearest Support Zone is $260, which it broke, then $220. The nearest Resistance Zone is $300 (previous support), then $340.
Long
by altFINS
ETH: Descending Triangle BreakoutEthereum (ETH) technical analysis: Trade setup : After reaching $2,150 on a sharp run up, price was overbought with RSI > 70, traders began to take profits and price was consolidating in a Descending Triangle pattern. Now price has broken out of that pattern in the direction of existing Uptrend and could revisit $2K resistance level. Trend : Neutral on Short-Term basis and Uptrend on Medium- and Long-Term basis. Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral). Support and Resistance : Nearest Support Zone is $1,800, then $1,700, and $1,400. The nearest Resistance Zone is $2,000 (previous support), then $2,150.
Long
by altFINS