? Welcome to TradeCityPro! In this analysis, I want to examine the EGLD coin for you. This coin is part of the MultiversX project, which is a Layer 1 blockchain active in the fields of DeFi and the metaverse. ? Weekly Time Frame In the weekly timeframe, we are observing a bearish trend that began after the 2021 bull run. After the price reached its all-time high (ATH) at 429.83, the market's downward phase started. ? Currently, the price is near a crucial support at 22.23, and in this candlestick, it's closing below this level for the first time after several attempts. This area also serves as the base of the consolidation zone, and for us to maintain hope for an uptrend, the price should not settle below this level, because then there is no significant support until 7.46. ? There's a hidden trend line in the chart that used to act as resistance and is now serving as support, preventing further price drops in this candlestick. ? The market's selling volume is increasing, indicating a greater inclination for further declines. The RSI has recently broken below 50, introducing bearish momentum into the market. ? If buying volume re-enters the market and the price can return above the consolidation box, and if it breaks above the box's upper boundary, the price could begin an uptrend. In such a scenario, the primary resistance levels will be 125.86, 197.30, and 429.83. ⏳ 4-Hour Time Frame ? In the daily timeframe, I didn't see anything special, so I'm moving directly to the 4-hour timeframe to identify potential futures triggers. ✨ As seen, in the last bearish leg, the price moved to a support at 20.72, forming a base there, and is currently correcting from this trend. If the support at 20.72 breaks, we could witness the next downward leg. ? The target for this downward movement could be around the Fibonacci extension 1 area, which is located approximately at 16.34. The RSI entering the Overbuy zone could increase the likelihood of reaching this target. ? For a long position, the first trigger would be 24.63, but given the bearish momentum currently seen in the market, it would be prudent to wait until the price reaches and goes above the SMA99. If the price remains above this average, the bearish momentum may decrease, making it logical to open a long position. The significant resistances in this long position would be 26.71 and 29.83.A breakout of 43.88 in the RSI could serve as a momentum entry confirmation for this position. https://www.tradingview.com/x/Lg5j0DF4/ ? Final Thoughts This analysis reflects our opinions and is not financial advice. Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
In my mind have two scenario .. all with a short view for Dollar. In the first we can have a strong break of support area directly In the second we can have a pull back until 108.5 area In this second way we will have a creation of an H&S pattern This is my idea.
BINANCE:BTCUSDT is currently oscillating within a new trading range, establishing a trustable support zone while facing a weaker resistance trendline and resistance zone. Given this setup, a breakout isn’t the primary expectation just yet. ? Key Observations: Support Zone Strength: The support zone is stronger than the resistance, making it less likely for BTC to break downward easily. Resistance Weakness: The resistance trendline and zone appear weaker, meaning any rejection could be temporary. Liquidity Perspective: As seen on the liquidity chart, there’s favorable liquidity above the resistance zone, increasing the probability of a short-term push higher to hunt liquidity. ? Potential Scenarios: 1️⃣ BTC could move toward the resistance zone, tapping into liquidity before reacting. 2️⃣ If buyers step in aggressively, a short-term liquidity grab above resistance might trigger further upside. 3️⃣ Failure to reclaim key levels could lead to continued range-bound movement. ? Stay ready for the next Bitcoin move! Follow for real-time updates and professional insights! ?
If you followed today's Early Analysis on GBP/JPY, you would have noticed that the pair has already moved over 100 pips. Now, it’s time for a pullback, and there’s a high probability of a reversal from these levels. Take a closer look, manage your risk with a stop loss, and avoid letting greed dictate your decisions. Wishing you the best of luck and happy trading! Thank you.
Hex Trust has secured a strategic funding round led by Morgan Creek Digital with participation from global investors including Injective.
Coming into 2025, the cryptocurrency market is on the upswing. Bitcoin has reached another all-time high (ATH), surpassing $109,000 on 20 January 2025, ahead of Donald Trump’s inauguration. The overall market growth is driven by institutional investors‘ crypto adoption, a change in regulatory sentiments, and general interest in digital assets, retail investors included. Considering this, […]
The states plan to file the lawsuit in defense of Americans' "right to privacy." © 2024 TechCrunch. All rights reserved. For personal use only.
Apple is likely to stop providing its encrypted cloud service to U.K. users © 2024 TechCrunch. All rights reserved. For personal use only.
Bei Wer wird Millionär? hat eine Zuschauerin eine besondere Überraschung für Günther Jauch vorbereitet. Neben einem Kuscheltier hat sie eine Knetfigur für den Moderator gebastelt.
Das Geschäft mit Elektroautos läuft derzeit bei vielen Herstellern schlecht. So auch bei Porsche. Der traditionsreiche Hersteller aus Stuttgart muss sich deswegen neu aufstellen und plant wieder verstärkt auf Verbrenner zu setzen. Der Beitrag Kapitulation bei E-Autos: Nächster Hersteller zieht die Notbremse erschien zuerst auf inside digital.