Average Directional IndexADX (Average Directional Index) ADX is an excellent indicator for measuring the strength of a trend. It does not indicate the direction (up or down), but when combined with other indicators, it helps identify when a trend is strong enough to warrant a trade. It is most effective for use on time frames that depend on your trading style, such as 5- to 30-minute charts for day traders or daily charts for long-term investors.
It was created by J. Welles Wilder and is used to assess whether the market is in a strong or weak trend, helping traders avoid trading in sideways markets (without a clear trend).
ADX is derived from two other indicators: +DI (positive Directional Indicator) and -DI (negative Directional Indicator), which measure the strength of upward and downward movements, respectively. ADX, which is the average value of the two, indicates the strength of the trend.
ADX above 25: Indicates a strong trend.
ADX below 20 or 25: Indicates a weak trend or a sideways market.
Identifying Trend Strength:
A high ADX (above 25-30) indicates a strong trend. The higher the value, the stronger the trend, whether up or down.
A low ADX (below 20-25) suggests that the market is trendless (sideways), which may indicate that it is best to avoid trading in a particular direction.
Confirming Trends:
If the ADX is rising while the price is rising or falling, this confirms that the trend is strong.
If the ADX is falling, this suggests that the trend is losing strength, even if the price continues to rise or fall.
Avoiding False Signals:
When the ADX is below 25, it is more difficult to identify clear trends, and there is a greater risk of entering false breakouts.
ADX is useful for avoiding trades in markets without a clear direction, where movements can be very volatile or erratic.
ADX can be used on different time frames, but its effectiveness varies depending on the trading style. The most common time frames are:
Day Traders: Use ADX on 5, 15 or 30 minute charts, seeking to confirm the strength of intraday trends.
Swing Traders: Prefer 4-hour or daily charts to identify the strength of medium-term trends.
Position Traders: Generally use daily or weekly charts, analyzing long-term trends based on ADX.
Ulianovbands
MKRUSDT : Possible Consolidation at Critical SupportsMKR/USDT is currently consolidating after testing support levels around $1,327.8. The presence of nearby resistances, along with a still intact downtrend, suggests that the asset may continue in a period of laterality or attempt to test resistances around $1,382 and $1,408.
The chart is demonstrating a downtrend in recent sessions, with the price still struggling to overcome the main resistances, but MKR is unable to break the support.
The MACD shows a slight recovery with an attempt to cross between the signal line and the MACD line, possible start of bullish momentum and the stochastic in the overbought region
Supports: 1340 / 1275
Resistances: 1382 / 1408
"ETH/USDT 1H: Sideways with an Eye on the 200 Moving Average"ETH is now in a consolidation phase, sideways movements. The 200 MM is just above it, ETHUSDT often gravitates towards the 200 MM, so there is a possible upward movement in search of the 200 MM, the MACD intensifies the probability of an increase since it shows a bullish crossover, on the other hand the RSI is in an overbought condition, signaling a possible exhaustion of buying forces.
Let's see how everything will unfold!
If ETH breaks the resistance of $2436, it will go in search of the 200 MM at $2475. Now if it goes in a bearish direction and breaks $2387, then it only stops at 2352.
Bigger movements are expected at the opening of NASDAQ futures at the end of the day!
FLOKI/USDT bearish trend consolidatedFLOKI/USDT entered a bearish trend after peaking at 0.0001747 USDT. Since then, the price has started a corrective movement, breaking below the exponential moving averages (EMAs) and entering a descending channel.
Although the indicators are showing weakness in the selling pressure, there are no clear signs of a reversal yet.
To initiate a bearish trend reversal, the price would need to break the dynamic resistance of the descending trendline and sustain above the EMA Ribbon. A break above 0.00014884 USDT would be an important signal that buying pressure is returning to the market.
In addition, the MACD would need to cross upwards and the Stochastic RSI would need to enter the overbought zone to confirm a trend change.
Let's wait for the next few hours.
Supports: 0.0001253 / 0.0001174
Resistances: 0.0001398 / 0.0001448
SUI/USDT UptrendSUI/USDT is currently in an uptrend, supported by the ascending trendline and EMAs.
SUI is currently in a consolidation phase above the EMAs (Exponential Moving Averages), which have been acting as strong support. The MACD is showing signs of consolidation. The MACD lines are getting closer, suggesting a possible bullish crossover. The histogram, with bars close to zero, reinforces that the market is in a moment of indecision. It is important to wait for a clear MACD crossover to confirm a new direction.
Support: 1.8125 / 1.7204
Resistance: 1.9341 / 2.0125
ZRO breaks the descending channel?ZRO/USDT is currently in a downtrend, consolidated by the presence of the descending channel. The Stochastic RSI suggests a possible short-term correction, but caution is needed as the MACD still shows selling pressure.
For a reversal, it is important to break the resistance at 4,354 USDT. In the meantime, we should keep an eye on the support levels at 4,004 USDT and 4,108 USDT for potential entry or profit-taking opportunities.
Support: 4,348 / 3,788
Resistance: 4,354 / 4,506
BTCUSDT 2H - Symmetrical TriangleOn the 2-hour chart of Bitcoin (BTC/USD), the price is moving inside a symmetrical triangle pattern. This pattern represents a price compression, indicating a potential trend continuation or reversal, depending on the breakout.
The symmetrical triangle pattern is about to reach its convergence point, suggesting that a breakout, either to the upside or downside, may be imminent.
Immediate resistance is located around the $65,639 level, which coincides with the upper trendline of the triangle. This level also aligns with previous highs, suggesting that a break above this point could signal a strong bullish move.
Significant support is located around the $61,953 level, which is the lower trendline of the triangle. This is an important level for buyers to defend to avoid a larger decline.
If the price breaks above the resistance at $65,639, it could signal a continuation of the uptrend, possibly testing higher levels around $68,000 or even higher.
A break below the support at $61,953 could signal a trend reversal, with possible targets at lower levels such as $60,000 and even $58,000, depending on the pressure
TONUSDT 1H - Impact of Durov's ArrestTONUSDT on the 1-hour chart shows a sharp downward movement, clearly influenced by the arrest of Pavel Durov, founder and CEO of Telegram. The news caused panic among investors, resulting in a massive sell-off of TON, as seen on the chart.
Before the drop, the price of TON was in an accumulation phase, with a strong upward trend, as highlighted in the first accumulation zone. However, the news of Durov's arrest triggered a breakout of this accumulation, causing the price to fall sharply.
After the large sell-off, TON found temporary support at the $5.245 range, where it began a new accumulation period. This accumulation is marked by an attempt by the market to absorb the initial shock and stabilize the price.
The MACD shows negative momentum, but with signs of a possible reversal, indicating that the market may be trying to recover from the sharp drop.
The current accumulation may be a sign that investors are starting to gain confidence again. However, the market is still in a state of uncertainty, and further price movements may depend on more information about Durov's situation and the community's response.
BTCUSDT 1H: The Moment of TruthBTCUSDT 1H: The Moment of Truth
Analysis:
Accumulation Phase: The BTCUSDT chart on the 1-hour timeframe indicates an accumulation phase. The price has been consolidating within a tight range, reflecting a period of indecision in the market. This accumulation usually precedes a significant move, either up or down.
We should keep a close eye on the resistance at $65,000 and the support at $62,450.83. A break above the resistance could see BTC test higher levels, while a break below the support could trigger a bearish trend. Current technical indicators suggest a potential upward move, but caution is advised due to mixed signals.
Resistance and Support Levels:
Resistance: 65,000 / 66,158.
Support: 62,450.83/ 61,816
The RSI is in a buy zone, indicating that the current momentum favors the bulls.
The MACD shows decreasing bullish momentum, with the MACD line approaching a potential crossover below the signal line. This could be an early indication of increasing bearish pressure.
VETUSDT : VeChain Breaks Out of Descending Trendline
VeChain is currently at a critical point, showing signs of potential upward movement and a strong support base. The chart indicates a recent upward trend following a prolonged decline.
Resistances and Support:
Resistance I: Around $0.02850, where the price might face difficulties breaking through.
Resistance II: Near $0.03355.
Support: Located at $0.02037, an important level that could hold the price in case of a decline.
The Stochastic RSI shows that VET is currently in an overbought zone, which could indicate a possible short-term correction.
Fibonacci levels suggest potential areas of support and resistance. The 0.618 level at $0.04772 is particularly important for the continuation of the upward trend.
VeChain has stood out with strategic partnerships including companies like BMW, Walmart China, and major telecommunications operators such as AT&T, T-Mobile, and Verizon. These partnerships are focused on areas such as supply chain tracking, food safety, and preparation for 5G networks (Crypto News Flash).
Recently, analysts predicted significant upside potential for VET, with estimates that the price could reach $1.80 by October 2024, based on detailed Fibonacci analysis and other technical indicators. VeChain has also launched important technological products such as the VeWorld Mobile wallet and the VORJ digital asset platform, promoting the adoption of Web3 technology
OTHERS.D - "V" recoveryAt this moment the "V" recovery suggests a strong buying impulse, but it is necessary to monitor resistance levels to confirm whether this recovery can be sustained, it should exceed 10.34%. Overcoming will we start the expected altseason??
The OTHERS.D chart represents the market dominance of altcoins, which are all cryptocurrencies excluding the top ten by market capitalization.
This chart shows the percentage of the total market cap of altcoins in relation to the total value of all cryptocurrencies, indicating the relative strength of altcoins in the crypto market.
The chart shows a descending trendline (marked in orange), indicating a series of lower highs. This line acts as a dynamic resistance.
The "V" recovery is visible on the chart, where the price falls sharply (forming the first leg of the "V") and then rises equally quickly (forming the second leg of the "V"). This is a reversal pattern characterized by a quick and strong recovery after a sharp decline.
The rapid drop indicates a massive sell-off, followed by a quick recovery, which suggests a sudden return of buyer interest.
Kaspa - daily chartKaspa - daily chart: The ascending triangle is getting clearer.
The chart suggests a bullish structure with the formation of an ascending triangle. At the bottom of the chart it shows a stochastic oscillator that is currently at low levels (circled in orange), suggesting that the asset may be oversold and reinforcing the upward movement. If the price manages to break the resistance at 0.198027 USDT, it is We are likely to see a continuation of the uptrend.
On the other hand, the loss of the ascending trendline could signal a possible reversal.
NextSupports: 0.1486 / 0.1351
Next Resistances: 0.1767 / 0.1934
XTZBTC 6HAnalyze XTZ/BTC
The long sequence of red candles in a row shows the bearish channel, but looking in perspective it is clear that XTZ/BTC is in an accumulative formation, indicating a trend reversal.
The MACD histogram is below the zero line, indicating the reduction in bearish momentum, its convergence indicates that a change in trend may be close.
The RSI is neutral and can move in any direction.
A confirmation would come with the MACD crossing the zero line and the RSI remaining above 50.
The prognosis is positive, with the XTZBTC pair alone being worth HOLD, as XTZ is a high-performance blockchain and open source platform for assets and applications, with a strong focus on code security, on-chain governance and decentralization. Tezos 2.0, the next step in the evolution of Tezos, aims to improve scalability (via layer 2), composability, and implement support for mainstream programming languages (such as Javascript, Typescript, Python, and many others).
Next supports: 0.00001772 / 0.00001692
Next resistances: 0.00002031 / 0.00002194
BTCUSDT 1DPrice Action:
Bitcoin's daily candle showed extreme volatility, with a swing of $10,000 in a single day.
The price peaked near $69,300, surpassing the previous high, indicating strong initial momentum.
After the peak, the price fell sharply to $59,300, a move that resulted in the liquidation of around 1 billion dollars worth of leveraged positions. This type of volatility can be indicative of an overleveraged market, where positions with insufficient margin are liquidated quickly when the price moves against them.
ZIL/USDT 1H 1HZIL/USDT 1H
If the price holds above the 0.01764 support level and breaks the 0.01823 and 0.01835 resistance, we could see a continuation of the uptrend. However, if the price falls below support, especially 0.01725, we could be looking at a deeper correction, as on the one hand, the RSI suggests that the market may be overbought, which could indicate a correction soon. On the other hand, the MACD shows a buying momentum, suggesting that the uptrend may continue.
Without a doubt, Zilliqa's main innovation is Sharding. By using sharding, Zilliqa divides its network into several smaller parts, called shards, that process transactions and smart contracts in parallel. This allows the blockchain to achieve a high number of transactions per second (TPS) as the network grows, a crucial aspect for scalability.
Good end of the week
🔸Main support levels: 0.01764/ 0.01725
🔸Main Resistance Levels: 0.01823 / 0.01835
➡️RSI: Exhaustion of forces BUYERS
➡️MACD: Buyer
Symbol: ZIL
Maximum supply: 21,000,000,000 ZIL
Consensus: Proof of Work
Released in: 2018
Official website: www.zilliqa.com
BANUSWBNB 1HWe are currently observing an accumulative triangle formation in the BANUS/WBNB pair. The BANUS coin currently sits on the bottom edge of this triangle. This formation often suggests that investors are waiting for some market trigger or direction before deciding on the next trend.
With an RSI set at 3.7, we notice an exhaustion of selling forces. This could signal a potential trend reversal or at least a respite in selling pressure.
BANUS has a marked deflationary characteristic. With 50% of the fees generated on DEX BANUS being allocated to buyback and subsequent burning of the coin, there is a systematic decrease in the total supply. This mechanism can, over time, exert positive pressure on the price as supply decreases and, presumably, demand remains stable or increases.
The news of BANUS' imminent listing on a Dubai exchange is promising. This can significantly increase your visibility and attractiveness to new investors, especially those in the Middle East looking to diversify their crypto portfolios.
DOTUSDT 1HDOT/USDT
Watching these levels can be useful to identify potential entry points: it is currently showing supports at 5,162 and 5,119. This indicates that these are the price levels at which buying pressure has historically entered and reversed a downward trend.
Considered short-term targets or points to consider taking profits:
On the resistance side, we see hurdles at 5,238 and 5,258.
The MACD , a trend-following indicator that shows momentum, is pointing down. This can indicate a downtrend or a loss of momentum in the uptrend.
The RSI , an indicator of momentum, shows exhaustion of selling forces. This could suggest that price action may start to reverse into an uptrend if there are no more bears to push the price lower.
The Chop indicator is at 43.17 which is below 50 which is generally considered a trending market. So, although there is some degree of consolidation, the price is still moving significantly.
Given the "needle" move (a quick downward price move followed by an equally quick rebound) it is possible that price action is bouncing back, these moves are quite common on Sundays in the cryptocurrency market.
ATOMBTC 1DSupports for ATOM/BTC are located at 0.0002800 and 0.0002433. These are the price levels where historically selling pressure has eased and demand has increased, supporting the price.
Resistances are set at 0.0003452 and 0.0003912. These are the price levels where buying pressure has eased and supply has increased, creating a barrier to the price going up.
The RSI (Relative Strength Index) is indicating that the market is highly bullish. This is a sign that the market may be overbought, which could result in a possible trend correction or reversal. However, it is important to note that markets can remain overbought or oversold for extended periods of time, and the RSI alone should not be used as a sell signal without confirmation from other indicators.
Fundamental Analysis of the ATOM/BTC pair:
Cosmos (ATOM) is a decentralized network of independent blockchains. Their vision is to allow different blockchains to communicate and interact efficiently. This could have significant implications for the scalability and interoperability of cryptocurrencies, which is a fundamental issue in the blockchain space.
With its concept of the “Internet of Blockchains”, ATOM has received a lot of interest and growth in the crypto space, indicating that it has good fundamentals. However, its performance against Bitcoin will depend on several factors, including market perception of its technological progress and adoption, as well as the overall performance of the cryptocurrency market.
RUNEBTC 1HThe given bearers for the RUNE/BTC pair are 0.0000281 and 0.0000252. These are the levels where prices have had a hard time falling in the past. This means that these levels can be considered 'floors' or 'barriers', where the fall in price can slow down or be stopped.
The resistances are at 0.0000359 and 0.0000437. These are levels that prices have struggled to break through in the past. Thus, these can be seen as 'ceilings' or 'barriers' where price rises can slow down or be stopped.
Considering the RSI (Relative Strength Index), there is an exhaustion of purchasing forces. This is usually a sign that the market may be overbought and that a correction or even a trend reversal may be in the offing. The combination of these technical factors could indicate a downward movement in the pair in the short term.
Thorchain (RUNE) is a cross-chain solution that allows the exchange of cryptocurrency assets on different blockchains. Additionally, Thorchain allows users to earn interest on their cryptocurrency assets by providing liquidity, which adds an additional incentive for holding RUNE.
RDNTUSDT 1HRDNTUSDT 1H
Our impeccable “ulianov bands” indicator
The RDNT in cumulative wedge formation, needs to break 0.3938 to be able to return to the target of 0.4746]
SUPPORTS 0.3765 / 0.3696
RESISTANCES 0.3938 / 0.4016
Seller RSI
MACD: Losing Pace in the Bearish Zone
MM100: 0.4019
On the RDNT platform it is possible to provide liquidity or lend assets such as DAI, USDC, USDT, ETH and WBTC.
For each cryptocurrency there is an interest rate to be paid in case of loan, or to be received in case of deposit. There is also a mechanism to receive tokens in Radiant Capital's RDNT cryptocurrency and receive a higher return.
The same RDNT token can be staked receiving interest on diversified fractions of other tokens.