After momentum and correction, crypto market remains sideways near the top of the last 30 days. Can we expect new highs?
The price of ETH did exactly as expected and rose to 3,450 and started to correct when reaching this resistance. On the H4 chart, the price may exit the sideways between 3.100 and 3400 as the price has managed to pass both the 50- and the 200-period moving averages with the 9-average being below the current candlestick, suggesting continued bullishness.
The expectation is up to 3,500 where it should be the day’s high, right at the daily chart’s 20-moving average, which should bring selling strength and hold the price down. (Ideas for ETH).
After reaching an appreciation of over 1700% only in 2021, crypto is apparently carrying out a “healthy” corrective process, by correcting up to FIBO region 0.382, at $2,338, and therefore respecting its former historic top as a support zone , and best of all, staying above that level, which sets precedents for a possible “Pull Back” should the $3,001 break.
We know that this type of “asset” has a high volatility and the ideal is to use the weekly chart for analysis. By adopting the weekly chart, theshows us a cross, corroborating the possibility described above, a possible Pull Back with the break of $3,001, with destinations at $3,902 and $4,361.
What can make this possible “Pull Back” difficult is the fact that on the daily Cardano chart the short averages are pointing down, and that we have a possible bearish pivot forming with the loss of $2,387, which could cause prices to fall up to the region of $1,909 with first target and $1,613 as second target. (Analysis for ADA).
On the daily note that the Atlas currency has retracted the 50/60% Fibonacci buy zone and in my view it has completed a wave 2 and is about to start a wave 3.
The fact of breaking a wedgeit also strengthens this idea of optimism. The targets are described above, as well as the stop zone described below. (See dynamic chart).
EGLD cryptocurrency in a period from June 22, 2021 to the present day presents a table of ascending tops and bottoms which configures an upward bias.
Buyzone demarcated in blue pool gives us the notion where price can come in an eventual correction with reference toin .
Fibonacci ruler taking current support and resistance levels projects in the future possible supports and resistances where the price can use as a stopping point in itscommon. (See dynamic chart).
Token BNB is strong in the diary. Stochastic in an interesting region, MACD turning, Chaikin high. It’s good to keep an eye out because there is… (Analysis for BNB).
Disclaimer: The analyzes presented here are studies only. They are not investment, buy or sell recommendations, nor do they reflect the opinion of the media outlet in which they are being advertised. These are studies aimed at people with knowledge and experience in the financial market.
Our Authors: Allan Jhones, MACD_Bollinger, Gustavo Correa, Junior Ferreira and TAFFA.
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