Zanzibar_Trading

Zanzibar_Trading

🔸Solana has trading sideways for the past week, the 7 days high is 151.60 and the low is 136.78. this sideways movement has made the pairs future uncertain therefore creating a ticking bomb ready to explode and push the price to any side. 🔹If the price fell below the local low at 136.78, the bears can push the price down to 130.46 and the strong support at...

Zanzibar_Trading

🔸After the market crash in august 5 the UADJPY pair reached 141.900, the lowest it has been in the last 7 months, falling below the 200 MA located at 151.400. 🔹The US Dollar strengthened slightly due to positive US economic data. US Retail Sales increased by 1%, exceeding expectations of 0.3%. Initial Jobless Claims fell to 227,000, down from 234,000. 🔸While the...

Zanzibar_Trading

🔸After the market crash in August 5, BNB has seen a pullback of 35% sending the price from $401 to $545. Currently sitting at $535 below the 200 MA ($536). 🔹The reason behind the price movements has been the overall market behavior specially Bitcoin, if you have read my BTCUSDT analysis that i posted yesterday you can notice some similarities among these two...

Zanzibar_Trading

🔸Following the market crash in August 3, ETH fell by 37% from $3,639 down to $2,150. The pair has since pulled back by 30% currently sitting at $2,613. 🔹While Bitcoin recently reached a new ATH, ETH on the other hand only reached $4,000, $800 lower than it's ATH. This makes this recent price fall a lucrative price to buy for long-term holders specially the...

Zanzibar_Trading

🔸In the last 2 weeks the EURUSD pair has risen by 2.4% mostly due to the weakening of the US Dollar after a disappointing US business data. 🔹Currently the pair is facing resistance at 1.1033 which is a somewhat significant price level. If this resistance caused the price to pullback, the 0.23 (1.0976), 0.38 (1.0875) and 0.5 fib level (1.0793) can act as a support...

Zanzibar_Trading

🔸For the past 10 days Bitcoin has been consolidating Below an strong resistance, buyers are experiencing an strong resistance from sellers at this price level but despite the resistance buyers have been able to keep the price above $56,166. 🔹The $60,322 - $62,591 price zone is protected by the 200 MA ($62,591), the 50 MA ($61,558) a previous support and the 0.38...

Zanzibar_Trading Updated 

🔹Yesterday the crypto market experienced a downturn movement, most of the major coins losing 6% to 10% each. Bitcoin was leading this bearish movement with it's price falling from $65,522 to $60,691, a 6% drop in just 24 hours. 🔸The pair is currently sitting at an important price level where the 200 MA ($61,403), the 0.38 fib level ($60,322) and the $61,454 -...

Zanzibar_Trading

🔸EUR today experienced an 1.30% spike, the most volatile it has been since April 15, jumping from 1.078 to 1.092 following the increase in unemployed rate. 🔹Non-farm payroll data for July disappointed to the downside as fewer hires were achieved in the month of June. US added 114k jobs in July, below the expected 175k and June's 179k. 🔸Previously, the US job...

Zanzibar_Trading

🔸Since October 2022 the NZDUSD pair has been trading inside a Bearish Pennant Pattern, the resistance line of this pattern has been hit 3 times and the support line 2 times and the price is currently aiming to make the 3rd hit to the support line. 🔹Jerome Powell's dovish stance in recent speeches could support the bearish scenario, the pair is currently trading...

Zanzibar_Trading

🔸Since July 8, the crypto market has seen significant change in sentiment among traders, the Fear & Greed Index went from "Extreme Fear" to "Greed" in a matter of days resulting in the overall price increase in the top Cryptocurrencies. 🔹Bitcoin price increased by 15% leading to the entire crypto market to follow up including ADAUSDT. the pair even outperformed...

Zanzibar_Trading

🔹For the past 8 days the USDCAD pair has been trading sideways hugging the 50 MA (1.359) and the support line of the triangle pattern that the pair has been trading inside of since April 16. 🔸Even tho other major pairs gained strength against the Dollar in the last few days due to DXY taking a nose dive from 105.162 to 104.030 a 1% decrease in just a few days,...

Zanzibar_Trading

🔸While Most of the Top Cryptocurrencies have experienced a price increase today like BTC, ETH and BNB which gained 4%, 3.5% and 5%, The TONUSDT pair has gained only 0.5%. 🔹That's because TON is already traveling around it's all time high price, a month ago on June 15 the pair reached $8.286 (ATH) and 18 days after that it attempted to break that record high price...

Zanzibar_Trading

🔸In the past 10 days the Australian Dollar's value has gone up against the US Dollar just like every other currency trading against the Dollar, the AUDUSD pair price has increased by 2.4% going from 0.6633 to 0.6797. 🔹DXY has experienced an almost 2% decrease during the same period falling from 106.034 down to 104.069 amidst an failed assassination attempt...

Zanzibar_Trading

🔸 FX:USDCHF is down 0.90% today following the the CPI report that showed inflation eased more than expected. 🔹Even tho the US Dollar gained ground against Swiss Franc before Powell’s Congressional testimony the recent reports is sending the Dollar back to the 200 MA (0.8888). 🔸If the price falls below the 200 MA (0.8888) the next target for the sellers is...

Zanzibar_Trading

🔹In July 3, BINANCE:DOGEUSDT price fell from $0.12551 to the support level at $0.10546, even with the bears pressure to push price lower to $0.0920, the bulls won against the bears and successfully kept the price above the support level. 🔸But for the past week the bulls hasn't been able to push the price higher which makes room for two scenario that is likely...

Zanzibar_Trading

🔹July 13, 2023: Landmark ruling in SEC vs. Ripple Labs case. BINANCE:XRPUSDT token ruled not a security when sold on public exchanges which pumped the price by 20% from $0.4457 to $0.5414. 🔸SEC lawsuit in December 2020 alleged unregistered securities offering by selling XRP. Ripple argued XRP is a currency, not a security. Court sided partially with Ripple...

Zanzibar_Trading

🔹The second largest coin by market cap is now believed to benefit and outperform Bitcoin following the launch of spot ETH exchange-traded funds (ETFs) in the U.S. later this month. 🔸The ETH/BTC ratio reversed after the unexpected approval of ETH ETFs by the SEC. Traders now believe that ETH's price will rise similar to BTC after its ETFs went live. 🔹The ETHUSDT...

Zanzibar_Trading

🔸The BNBUSDT pair experienced a fall in price from $580 to $455 between July 3 and July 5, a 20% decrease in price following the Mt. Gox releasing $9 billion worth of BTC resulting in over $100M of leveraged positions getting liquidated. 🔹The bears pushed the price into the oversold territory which is the reason for the price rebound to $530. If the 200 MA that...