I am not happy that my previous post was right. Well, was sort of right, up to this point, but the stock has fallen out of bed this morning instead of bouncing on that 400-ish level I measured for the 1:1. Now it is in the 1.272 extension range and at this point my forecasted ABC corrective downward move is in danger territory. It is so oversold in multiple timeframes that only a hard bounce here for a bigger degree B wave could save it from this decline into escalating into a Wave 3. I am regretting not selling the entire package at $464 instead of only reducing it.
With a market cap of over $400 billion, Ethereum is poised to revolutionize the world of decentralized finance (DeFi), Real World Assets (RWA), and non-fungible tokens (NFTs). As the largest altcoin by market capitalization, Ethereum's potential for growth is immense. Technical Analysis: Bullish Inverse Head and Shoulders Pattern The Ethereum (ETH) chart is flashing a bullish signal, and it's time to take notice! A clear inverse head and shoulders pattern has formed on the daily chart, indicating a potential reversal of the downtrend. Key Points: Neckline Resistance level- $4500-5,000 Target: A breakout above the neckline could trigger a rally towards $20,000, with a potential upside of 500% Conclusion: The inverse head and shoulders pattern on Ethereum's chart is a compelling bullish signal. With a potential breakout above the neckline, Ethereum could be poised for a significant rally
Price hit a weekly support zone and reversed, retested the previous support zone with bullish candlestick pattern.
News analysis: On Thursday, January 2, spot gold rose slightly in the U.S. market and is currently trading around $2,652/ounce. Gold prices closed up 0.72% on Tuesday at $2,624.28/ounce, helping gold prices rise 27% in 2024, the largest annual increase since 2010, driven by safe-haven demand and interest rate cuts by central banks; however, market sentiment may become more cautious, depending on policy shifts during Trump's second term as president. In addition, the U.S. dollar index hit a two-year high on Tuesday, and the U.S. 10-year yield achieved its best annual increase in two years, and gold was also cautious. Gold Trend Analysis: Judging from the current market situation, the technical form also highlights the situation that has stopped the decline and is favorable to bulls. First of all, look at the daily line. Tuesday's dip and rebound trend closed positive on the daily line, but with the piercing of the 5-day moving average and the weakness of the 10-day moving average The downward pressure pattern shows that the short-term resistance is very fragile. In addition, other cycle indicators maintain a bullish arrangement. The Bollinger Middle Rail also extends upward. At the same time, the double lines of the MACD indicator have signs of forming a golden cross again. Therefore, the overall daily line seems that bulls are entering. Take proactive steps. In the 4 hours, after rising in early Asian trading, the current price is still hovering near the upper Bollinger Band. Although the upper Bollinger Band shows a suppressed form, as the short-term moving average moves upward, the lower Bollinger Band also extends upward, so it can be judged that The short-term downside space for gold prices is limited; in addition, the MACD double-line golden cross is in an upward form and has sufficient upward potential. Therefore, the overall 4-hour level can be expected to fall back and the bulls will launch a counterattack again after adjustment. Operation idea: In day operation, it is recommended to mainly go long on dips, supplemented by shorting highs. For short-term support below, focus on the 2635-2638 area, and continue to look at the 2650-2660 area above. If the bears strongly break through the 2625-2630 area, it means that the market has peaked in the short term, and there is a high probability that the 2610 area will be explored again, or even exist. Possibility of breaking down. For the short-term resistance above, pay attention to the 2658-2660 area first, and try short selling. Focus on the 2666-2668 area during the day.
USUAL/USDT pair is showing a strong rebound from the key support zone, suggesting a successful retest of the breakout levels. However, the price is currently facing rejection from the descending, narrow resistance zone. Based on the current setup, we predict a breakout from this zone, potentially leading to further bullish momentum in the coming sessions.
Foreign exchange service provider Alpha Group has officially appointed Clive Kahn as its Chief Executive Officer, effective January 1, 2025.
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