Ethereum (ETH) is currently trading at a critical juncture, hovering around a key pivot level. This price zone represents a crucial decision point for the cryptocurrency, with the potential for a significant move in either direction. The Current Situation ETH has been consolidating in recent days, with bulls and bears locked in a tight battle for control. The pivot level, which currently sits around , is acting as a strong point of contention. Possible Scenarios Scenario 1: Bullish Reversal If bulls can muster enough strength to push ETH above the pivot level with conviction, we could see a significant upward move. This would likely be fueled by increased buying pressure and positive sentiment in the market. Scenario 2: Bearish Breakdown If bears manage to break down below the pivot level, it could trigger a sharp decline. This would likely be accompanied by increased selling pressure and negative sentiment. In this scenario, ETH could potentially drop to the support level, which sits around the 3600 range. Key Factors to Watch Trading Volume: A surge in trading volume accompanying a breakout above or below the pivot level would add conviction to the move. Momentum: Strong bullish or bearish momentum on smaller timeframes could provide clues about the direction of the next major move. News and Sentiment: Keep an eye on any major news or developments in the crypto space, as these could influence ETH's price action. The Decision Point The next few days will be crucial for ETH. The outcome of the battle at the pivot level will likely determine the direction of the next major move. Traders should remain vigilant and be prepared for volatility in the near term. Disclaimer: This is not financial advice. Please do your own research and consult with a financial professional before making any investment decisions.
This analysis just complements my last analysis of this market. The market seems to have really completed wave d and whether confirmation of a short position is possible at this time.
Rough day for tech and semis so far. NVDA failed to reclaim $140 but still has a bullish chart overall. It was idea #1 this week with an inverse H&S that is still valid for now. If we see both NVDA and SOXX begin to rally it would be a good sign that SOXX is about to breakout of this bull flag while NVDA holds the neckline. SOXX is right in the middle of the range so it's not the greatest spot to enter. There's still a lot of room for more downside without invalidating the bull flag. Ideal long entry would be on a break of the flag and retest. First upside target is around $240. Downside target is $208 - $200.
RUM is currently testing the support level at $8.12 after a strong move upward. The price action suggests a potential rebound, with the next target set at $8.86. Key support at $7.87 provides a solid base for this setup. Key Levels: Support: $8.12 and $7.87 Resistance: $8.43 Target: $8.86 Traders should monitor for a breakout above $8.43 for confirmation of upward momentum. Stay cautious and manage risk effectively with the stop-loss level in mind.
Hey Traders, in today's trading session we are monitoring AUDJPY for a selling opportunity around 98.800 zone, AUDJPY is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 98.800 support and resistance area. Trade safe, Joe.
In a bullmarket, you want to look for asymmetric bets that provides high risk to reward. If a few setups like this one, you can maximize your gains significantly. All that is needed, is patience. On weekly and 2 week chart, both BTC and USD pairs of SUSHI shows massive breakouts. These breakouts work as support place of strong buying interest. Since SUSHI fundamentally, is a de-fi peoject, there is tremendous upside liquidity sitting that can be taken. In my opinion, this should at least provide 3-4x return in the coming year from now.
? #TWT absolutely bullish structure? Multiple retest of the 2W Supply Zone + Higher Lows? Breakout is imminent? ?1 Target - 4.3060$ ?2 Target - 6.8350$ ?3 Target - 9.3350$
#SUSHI CRYPTOCAP:SUSHI Token breaks out from the parallel channel pattern on the weekly chart? If price holds above the resistance zone, we could see price rise towards targets at $4.40, $6.40, $10.00, and $15.40 in the long term?
Both USD and BTC pairs showing weakness on SOL. I would like to bid the 200 area if we get a retracement into this. HTF is till bullish, any pullback is an opportunity to buy.
https://www.tradingview.com/x/lTRM3kB0/ ✅EUR_AUD will soon retest a key support level of 1.6337 So I think that the pair will make a rebound And go up to retest the supply level above at 1.6418 LONG? ✅Like and subscribe to never miss a new idea!✅