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Forexchief

GOLDSupport 1800 can be defined as a "zone of weak balance" Gold remained under strong pressure of bearish sentiment throughout the last trading week, which allowed forming an up-dynamic sell-off towards the end of the trading week and testing the key support level of 1.800. Below the level of 1.800, there is a large deferred demand for short positions to buy. The opening of Asia on Monday can be defined as a "zone of weak balance." But, due to the fact that the beginning of the week is saturated with a large number of economic statistics and a general negative component that puts pressure on the global financial system, this factor can serve as a trigger for a correction, followed by the formation of an upward dynamics of gold strengthening with the target of 1.850 - 1.900 (the key zone for continuing growth). While the asset is trading within its current downtrend, it has the potential for further decline and a break of 1.800 support would mean strong demand for short sellers with a target of 1.750-1.7000 during the trading day on Monday.
OANDA:XAUUSDLong
by Kuznetsov_Sergey
Polkadot Polkadot Only one step left, Polkadot came to the edge of the abyss. Polkadot, as part of a downward up-trend on D-1, has fallen to critical lows since early April and approached its historical key support at $12.00, breaking through which risks losing investment interest and, as a result, its liquidity and recovery potential in the short term. The level of $13.00 is not only the middle of the channel and intermediate local support for the downward dynamics, this level may well be a good start for a test of the channel trendline breakout, followed by an attempt to restore its liquidity as part of medium-term purchases. The support level of $12.00 is critical and in case of its breakdown, Polkadot risks updating the historical low of $10.00 per coin.
KRAKEN:DOTUSDShort
by Kuznetsov_Sergey
AvalancheBreaking out of the triangle defines mid-term targets for the Avalanche. Breakdown of the key support level $60.00, which is the point of intersection of the triangle trendline at D-1, is a strong signal for the continuation of the current trend. The target of $50.00 per coin will be a clear confirmation of the breakout of the key crossover. The support level at $50.00 looks technically confident for considering short and medium-term purchases within the descending channel with the target at $70.00-80.00. The subsequent potential break of $50.00 support opens technical targets for a test of $40.00 and key support at $20.00.
FTX:AVAXUSDShort
by Kuznetsov_Sergey
2
XTI/USDXTI/USD Intensification of purchases is facilitated by the discussion in EU on topic of new anti-Russian sanctions, which include not only a ban on oil imports from RF but also the maintenance of oil cargo, including resale, transportation and insurance. There is no final decision yet, but the market is preparing a springboard for a new upward spurt. With a confident breakdown of the protection zone 100, cautious sales can be considered with targets below the 87.50 zone.
FXOPEN:XTIUSDLong
by Kuznetsov_Sergey
CronosThe capitalization of Cronos tends to zero. Cronos remains under pressure as part of a semi-annual downtrend, and the prospects for recovery are fading every day. As long as the coin remains below the key level of 0.5000, Cronos remains in the red color of the quotes. The current support level of 0.3000 gives hope for a short-term recovery, followed by a test and a breakdown of the trend line of the semi-annual downward channel. In the event of a breakdown of the trend line, the target of 0.5000 opens, in this case, Cronos has every chance to update the price maximum.
FTX:CROUSDShort
by Kuznetsov_Sergey
TRONThere is absolutely every chance of recovering at least 50% of the global fall in TRON. TRON has approached a key point, the intersection of two trend lines at the level of 0.06500. After a significant drop since the end of 2021, there is every chance of a breakdown of the trend line of the descending channel with the subsequent formation of an upward trend. The first target of the ascending channel is the resistance level of 0.8000, breaking through which opens the possibility of testing the level of 0.10000, which will be 50% of the last long-term decline. If the level of intersection of two trend lines at 0.6500 holds and TRON remains within the long-term downward channel, the next local support may be 0.05000 with the prospect of testing the level of 0.03500. The level of 0.05000 is a strong historical support, below which large volumes of pending purchases are concentrated; this fact can provide significant support to this level.
BINANCE:TRXUSDLong
by Kuznetsov_Sergey
CardanoCardano Cardano in anticipation of a rally! Starting level of $0.70! After updating the historical maximum of $3.0 per coin, Cardano fell into a semi-annual downward peak. And in the last trading week of April, Cardano had a real opportunity to reverse the current trend and push off from the key local support level of $0.70 into a correction, followed by the potential to grow into an upward channel in order to test the $2.0 resistance level, which will be the start for the subsequent ascent to the top of $3.0. A good signal for a turning point in the current situation will be a confident breakdown of the trend line of the current semi-annual downtrend. If the $0.70 support fails and Cardano remains in the grip of a downward trend, short sales may well fail the instrument to the level of $0.2, which has extremely negative consequences for the liquidity of the coin.
KRAKEN:ADAUSDLong
by Kuznetsov_Sergey
1
BNBBNB The potential of the BNB coin and whether the breakdown of the $400 support level is false! The last trading week of April opened with a re-test of the breakdown of the $400 support level, which is the point of intersection of the trend line of the current ascending channel. It is possible that during the current trading week, the price will test the local support of $360, which will contribute to the formation of a "double bottom" reversal technical figure with a further potential reversal and the subsequent formation of a long-term upward channel. This is indirectly confirmed by the large accumulation of pent-up demand at this level of the BNB cryptocurrency. The breakdown of the $360 local support opens up an opportunity for deeper downward dynamics and a test of the $300 level.
BINANCE:BNBUSDShort
by Kuznetsov_Sergey