DOGE: Falling WedgeDogeCoin (DOGE) technical analysis:
Trade setup : Price is in a Downtrend and has broken below 200-day moving average, which is bearish. Now it’s trading in a Falling Wedge pattern and appears on a verge of bullish breakout. We wait for a bullish breakout from Falling Wedge, which would signal that buyers have finally absorbed the supply from sellers and the price could reverse trends.
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 Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral).
Support and Resistance : Nearest Support Zone is $0.070, then $0.055. The nearest Resistance Zone is $0.090, then $0.100, $0.115.
Cryptoanalysis
XRP: Channel Down BreakoutRipple (XRP) technical analysis:
Trade setup : Bullish breakout from Channel Down, above $0.45, which could signal resumption of Uptrend with upside potential to $0.55.
Trend : Uptrend 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 $0.40, then $0.32. The nearest Resistance Zone is $0.45, which it broke, then $0.55, and $0.60.
ETH: Bullish FlagEthereum (ETH) technical analysis:
Trade setup : After reaching $2,150 on a sharp run up, price was overbought with RSI > 70 and traders began to take profits, triggering liquidations of leveraged long positions. Now it’s consolidating in a Bullish Flag pattern, which is a continuation pattern, meaning that it typically resolves in a bullish breakout in the direction of existing Uptrend.
Pattern: Bullish Flag pattern . Short term small rectangle trading range between diagonal parallel lines. It moves counter to the prevailing price trend observed in a longer time frame on a price chart. It forms typically following a sharp advance and often indicates a small change in direction (or areas of consolidation) before the previous trend resumes. Flag pattern is among the most reliable continuation patterns that traders use because it generates a setup for entering an existing trend that is ready to continue. Trade is initiated on a breakout, if it is in the same direction as the prevailing trend. Also, with bullish flag patterns, traders prefer a breakout with an increase in volume but it isn’t a must.
Trend : Neutral on Medium-Term basis and Uptrend on Short- and Long-Term basis.
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) 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.
BTC: Channel DownBitcoin (BTC) technical analysis:
Trade setup : After topping out at FWB:31K , price has been consolidating in a Channel Down pattern. We 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-Term basis, Neutral on 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 FWB:25K , then $21.5K. The nearest Resistance Zone is $28K (previous support), then $32.0K.
LTC: Pullback in UptrendLitecoin (LTC) technical analysis:
Trade setup : Break above $90 had failed to hold up and price broke back below this key leben and is approaching a support zone around $80 and 200–day moving average, which could be an attractive swing entry.
Trend : Downtrend on Short-Term basis, Uptrend on Medium-Term basis and Neutral on Long-Term basis.
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI < 45 (Bearish). MACD Histogram bars are declining, which suggests that momentum is weakening.
Support and Resistance : Nearest Support Zone is $80, then $65. The nearest Resistance Zone is $90, then $105.
GMX: Channel BreakoutTrade setup : Bearish breakout from Sideways Channel ($60 - $90). Downside to $40 support. Price is up 70% since we highlighted GMX in Dec 2022 as our “Coin Pick” fundamental research recently highlighted GMX as a big beneficiary of FTX fallout.
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 $60, which it broke, then $40. The nearest Resistance Zone is $90.
TRX: Ascending Triangle BreakoutTRON (TRX) technical analysis:
Trade setup : A rare asset that’s remained in an uptrend despite the overall market correction, signaling robust demand from buyers. Price broke above the Ascending Triangle pattern, which is a sign of an Uptrend. However, price is getting overbought RSI ~ 80. Wait for price to pullback near $0.073. This could be a potential swing entry with upside potential to $0.09.
Pattern : Ascending Triangle which is a continuation pattern (it typically breaks out in the direction of existing trend). Most traders wait for a breakout but Swing traders could trade between the trendlines (Buy at Support, Sell at Resistance) as long as the trendlines are still relatively far apart.
Trend : Uptrend 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 $0.065, then $0.058. The nearest Resistance Zone is $0.073, which it broke, then $0.090.
Aicode Usdt (MEXC, BitGet)Aicode usdt reject from resistance.
Short Aicode Usdt
Entry 15, 16
TP 13.9, 13.05, 12.8
SL: 17
Crucial Moment for ETH/BTC- ETH/BTC is approaching the end of a symmetrical triangle formation on the daily chart, which began back in July 2022.
- The CM Williams Vix and Ultimate RSI indicators suggest that the bottom was established in late March 2023.
- Currently, ETH/BTC is testing a significant resistance line that has held strong since July 2017.
Additionally, considering the Bitcoin Dominance nearing a resistance point (see attached analysis below), it wouldn't surprise me if we witness a breakout for ETH/BTC, resulting in a decreasing Bitcoin dominance and Ethereum outperforming BTC at the moment.
I will conduct further analysis below using other timeframes
KAVA: Resistance BreakoutKava (KAVA) technical analysis:
Trade setup : Kava has traded completely against the market in recent week or two. This is bullish as it shows that there’s demand for the asset regardless of the overall bearish market sentiment. Price broke thru $1.00 resistance and 200 day moving average, which are signs of Uptrend. Upside potential to $1.15.
Trend : Uptrend on Short- and Medium-Term basis and Downtrend 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 $0.76, then $0.50. The nearest Resistance Zone is $1.00, which it broke, then $1.15, and $1.40.
Ocean Protocol longOcean Protocol bounced off the lower boundary of ascending channel. Bullish movement to resistance level at 0.3388 is possible.
AAVE: Falling WedgeAAVE technical analysis:
Trade setup : Price is in a Downtrend and has broken below 200-day moving average and $70 support, which is bearish. Now it’s trading in a Falling Wedge pattern. We wait for a bullish breakout from Falling Wedge, ideally above $70 and 200-day MA, which would signal that buyers have finally absorbed the supply from sellers and price is ready to reverse trends. (set a price alert).
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 Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI < 45 (Bearish).
Support and Resistance : Nearest Support Zone is $60, then $53. The nearest Resistance Zone is $70 (previous support), then $80, and $97.
KAVA: Resistance BreakoutKava (KAVA) technical analysis:
Trade setup : Kava has traded completely against the market in recent week or two. This is bullish as it shows that there’s demand for the asset regardless of the overall bearish market sentiment. Price broke thru $1.00 resistance and 200 day moving average, which are signs of Uptrend. However, it appears to be overbought with RSI ~ 70. We wait for price to retest this resistance breakout.
Trend : Uptrend on Short- and Medium-Term basis and Downtrend 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 $0.76, then $0.50. The nearest Resistance Zone is $1.00, which it broke, then $1.15, and $1.40.