Tag: Sma

Litecoin Clings To Ascending Trendline As Bulls Eye $135 Breakout

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Litecoin (LTC) is showing strength as it holds onto its ascending trendline, maintaining bullish momentum. After holding above the $112–$115 demand zone, buyers continue to defend key support levels, positioning the market for further upside. With immediate targets around $120–$125, a breakout above this range could clear the path toward the highly anticipated $135 mark.

Litecoin Technical Alignment Signals Strong Bullish Case

In a recent X post, Alpha Crypto Signal, a cryptocurrency market analysis group, has noted that LTC is exhibiting a robust and healthy structure, indicating a potential long setup. According to the analysis, LTC is holding strong above its ascending trendline. It is also retesting the $112–$115 demand zone, a price range where buying pressure is expected to be high.

The crypto analyst’s analysis further emphasizes the importance of key moving averages, noting that LTC is positioned precisely on top of the 9-day Exponential Moving Average (EMA) at $112.68 and just below the 50-day Simple Moving Average (SMA) at $115.25. Both of these moving averages are acting as dynamic support levels, which provide a solid foundation for the cryptocurrency’s price.

This confluence of technical factors, as identified by Alpha Crypto Signal, adds significant weight to the bullish case for Litecoin. The horizontal demand block, combined with support from both the EMA and SMA, creates a strong technical picture that suggests the cryptocurrency is well-positioned for a potential price rally.

Key Support At $112 Holds Bullish Bias

According to Alpha Crypto Signal, the bullish outlook for Litecoin remains intact as long as it holds its position above the $112 mark. This support level is considered a crucial threshold; maintaining it would indicate that the current market structure is favorable for a continued upward trend towards targets of $120–$125.

Alpha Crypto Signal’s analysis also outlines what a significant breakout could mean for LTC’s price. A decisive move and clean break above the $120–$125 resistance zone could pave the way for a more substantial rally. This would potentially unlock a path toward the next major price target of $135 or even higher, signaling strong momentum for the cryptocurrency.

However, the crypto expert also specifies the conditions that would invalidate this positive forecast. The bullish long setup would be at risk if LTC were to experience a breakdown below the $110 support level. A drop below this point would not only threaten the current trendline support but would also cast doubt on the overall bullish structure, suggesting a potential shift in momentum to the downside.

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September 11, 2025
Can SUI Reach $2.18? Bullish Pressure Builds Toward Key Milestone

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SUI is gathering bullish steam as it heads toward a possible breakout, with a notable milestone of $2.1825 in sight. Recent market activity suggests an upswing could be on the horizon, following a strong rebound at the $1.5 support mark.

If the bulls maintain their momentum, SUI’s path might lead to a significant price advancement, signaling a promising opportunity for traders and investors alike. However, the question remains; will the pressure be enough to push past this critical resistance?

This analysis aims to examine SUI’s current bullish momentum and assess whether rising pressure could drive the price to a potential target of $2.1825. By analyzing recent price movements, support levels, and resistance zones, this piece seeks to provide traders and investors with insights into SUI’s capacity for a breakout

SUI Bullish Surge Aims At $2.1825 Mark

Following its recovery at $1.5, SUI’s price on the 4-hour chart has continued to build pressure, approaching the $2.18 mark with a focus on breaking past it. SUI has also moved above the 100-day Simple Moving Average (SMA), signaling a strengthening upward trend that could pave the way for a potential breakout.

The 4-hour Composite Trend Oscillator shows bullish signs for SUI, with its SMA and signal lines rising above the zero line, indicating a growing positive trend. In addition, the widening spread between these lines implies strong support for a sustained uptrend, reflecting increased buying interest as the asset approaches key resistance levels.

Also, on the daily chart, SUI has demonstrated firm upward momentum, marked by a bullish candlestick pattern after a successful rebound at $1.5. Currently trading above the 100-day SMA, SUI’s position not only confirms an optimistic phase but also suggests that previous resistance levels may now act as support, creating a solid foundation for future gains.

Finally, a detailed analysis of the Composite Trend Oscillator formation on the 1-day chart reveals fresh bullish movement for SUI. The indicator’s signal line is aiming to cross above the SMA line, a classic key indication suggesting robust buying interest. Positioned above the zero line, this crossover attempt indicates that positive sentiment is likely building, with the potential to drive prices more on the upside.

Support And Resistance Levels To Watch

On the upside, resistance around $2.18 presents the next hurdle for SUI. Successfully breaking above this level could pave the way for higher targets, including its all-time high of $2.36. A breach of this resistance would significantly increase the possibility of reaching new price milestones.

However, if the cryptocurrency fails to surpass the $2.18 resistance level, it may initiate a downward move toward $1.5. Should it break below this support, the decline could extend further to the $1.42 support level and beyond.

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Godspower Owie

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October 30, 2024
Worldcoin Gains Upside Momentum: Is A Major Breakout Ahead?

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My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people – people who make an impact in my life no matter how little it is.

One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I’m so good at it. I am also very good at singing, dancing, acting, fashion and others.

I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone’s life. I don’t chase illusions, I chase dreams.

I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.

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Godspower Owie

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October 15, 2024
TON Recovery Stalls: Another Price Decline Hinders Bullish Efforts

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TON is facing renewed selling pressure as its price takes another dip, putting its recovery efforts in jeopardy. Despite previous attempts to regain bullish momentum, the cryptocurrency now struggles to hold its ground as it slips further below key support levels. With bears seemingly regaining control, the market is closely watching whether the current support levels can hold. As TON struggles to maintain its ground, the outlook becomes increasingly uncertain, with more downside risks looming.

This piece aims to explore TON’s ongoing struggle to regain a bullish trajectory as a fresh price drop threatens its recovery. By delving into recent market shifts, support levels, and technical indicators, we’ll assess the likelihood of a rebound or further declines and provide insights into what could be next for TON and whether the bulls can regain control.

Indicators Point To Further Weakness

TON has recently entered bearish territory on the 4-hour chart, dipping just below the 100-day Simple Moving Average (SMA) and approaching the crucial $4.6 support level. This drop below the 100-day SMA indicates weakening strength, and with sellers taking control, the cryptocurrency faces the potential for more losses.

An analysis of the 4-hour Relative Strength Index (RSI) shows that the signal line has dropped to 40%, following a brief rise to the 50% threshold, suggesting that buying pressure is waning as the RSI moves deeper into bearish territory. Typically, an RSI reading below 50% implies that sellers are gaining control, which could lead to downward pressure on the price.

Additionally, TON has exhibited strong bearish momentum on the daily chart, struggling to overcome resistance at $6, as highlighted by the formation of a negative candlestick. With sellers firmly in control and the failure to break above this key level, along with continued trading below the 100-day SMA, there is potential for further downside. Without significant buying interest to counteract the selling pressure, the digital asset may face deeper declines.

A closer examination of the RSI on the 1-day chart reveals that the RSI signal line is currently sitting at 40%, having dropped below the crucial 50% threshold. With the RSI trending at this level, it signals that selling pressure is increasing, potentially paving the way for more drops unless the bulls can step in to reverse the market’s trajectory.

Potential Scenarios: Will TON Rebound Or Slide Deeper?

TON is currently heading toward the $4.6 support level, where a potential rebound could occur if buyers manage to regain control. A successful recovery from this level may drive the price higher, with the $6 resistance level acting as the next target, potentially reigniting the asset’s recovery momentum.

However, failure to maintain the current support level could result in further declines, with TON possibly dropping toward the $2 price target and even lower levels beyond that.

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Godspower Owie

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October 8, 2024
FET At Risk Of Further Decline? RSI Signals Sustained Bearish Pressure

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Recent price action is painting a bearish picture for FET, with the Relative Strength Index (RSI) signaling the potential for further declines. As the RSI hovers in bearish territory, the momentum seems to be favoring sellers, raising concerns of a deeper downturn.

In the midst of the intensifying downside pressure, attention is shifting to the critical $0.9 support level. Holding this level is crucial for avoiding additional losses, as a breakdown could lead to more significant declines.

With current market sentiment suggesting more losses may be in store, this article aims to analyze the ongoing bearish extension in FET, focusing on how the RSI signals increased bearish pressure. By examining key technical indicators and market trends, this piece will explore whether FET is likely to experience more declines or if any potential support levels could trigger a rebound.

RSI Signals Growing Downside Momentum For FET

FET has recently shifted into bearish territory on the 4-hour chart, slipping below the 100-day Simple Moving Average (SMA) and heading toward the critical $0.9 support level. This decline below the 100-day SMA signals weakening momentum, with sellers gaining control over the market.

An analysis of the 4-hour Relative Strength Index reveals that the signal line has decreased below 50%, and it is currently at 37%, reflecting increased selling pressure and diminishing buying interest. With the RSI in this territory, this points to the possibility of further downside movement for FET, highlighting a lack of bullish conviction in the market.

Furthermore, FET on the daily chart is displaying negative momentum after struggling to surpass the $1.8 resistance level. This struggle is highlighted by the formation of multiple bearish candlesticks, signaling persistent selling pressure in the market. Although the price remains above the 100-day SMA, which typically indicates a bullish trend, the inability to break through the $1.8 resistance suggests that upbeat strength is weakening, and FET could be poised for extended losses.

A closer examination of the RSI formation on the 1-day chart indicates that the RSI signal line has dropped to 44%, recently falling below the important 50% threshold. Typically, an RSI reading below 50 suggests a bearish sentiment, indicating that the asset is losing steam. Such a decline could signal potential deeper corrections for FET unless a reversal is observed.

Key Support Levels To Watch Amid Bearish Sentiment

With bearish sentiment prevailing in the market, the $0.9 support level has become particularly crucial for FET. A breach below this level could ignite heightened selling pressure, possibly driving the price down toward the $0.4 support mark and beyond.

If FET can maintain its strength and stay above the $0.9 support level, it may pave the way for a rebound, allowing the price to drift back toward the $1.8 resistance zone. A successful breakout above this key resistance level could spark a surge in buying activity, resulting in further gains as bullish momentum builds. Observing how FET reacts to these levels will be crucial, as they will indicate whether a recovery is on the horizon or if bearish pressure will reassert itself.

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October 4, 2024
Will MANA Hold The Line? Key Trendline Retest Could Lead To An Upsurge

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Este artículo también está disponible en español.

Decentraland (MANA) is at a critical juncture as it faces a key trendline retest that could determine its next major move. With the price hovering near a crucial support level, market watchers are keen to see whether MANA will hold the line and spark a bullish reversal.

A successful defense of this trendline could trigger an upsurge, propelling the cryptocurrency to new highs. However, failure to hold could lead to increased volatility and uncertainty. All eyes are now on MANA’s ability to withstand the pressure and potentially set the stage for a significant breakout.

This article aims to examine MANA’s critical trendline retest and its potential to ignite a bullish upsurge. We will explore the technical factors at play, assess key support and resistance levels, and consider the market sentiment driving this pivotal moment, providing traders and investors with insights into whether MANA is poised for a breakout or if a reversal is on the horizon.

Market Sentiment: Are Bulls Ready To Take Charge?

MANA’s price is currently trading below the 100-day Simple Moving Average (SMA) on the 4-hour chart, with a clear attempt to retest bearish territory. This price action indicates that bearish forces remain dominant in the market and could push the price further down toward the key trendline support level.

MANA attempting to retest bearish territory | Source: MANAUSDT on Tradingview.com

Additionally, on the 4-hour chart, the Relative Strength Index (RSI) has fallen below the 50% mark, now sitting at 33%. With the RSI hovering in the lower range, there is a heightened likelihood that the price may continue to lose ground, potentially moving toward a critical trendline retest.

On the daily chart, MANA has been on a bearish trajectory, moving to retest the trendline after briefly trading above it and below the 100-day SMA, as evidenced by multiple bearish candlesticks. This downward movement reflects strong selling pressure and negative market sentiment, increasing the probability of the price reaching the trendline again.

MANA aiming to retest the trendline | Source: MANAUSDT on Tradingview.com

Finally, the 1-day RSI shows bearish pressure on MANA. The signal line has dropped below 50%, now resting at 45%, which signals intensifying selling pressure and a growing negative sentiment for the digital asset.

Support Vs. Resistance: What’s Next For MANA?

If MANA’s price reaches the bearish trendline and faces a rejection, it could set the stage for a significant upsurge, and $0.3103 could be the next resistance zone. A successful breakout above this resistance could signal further gains reinforcing the bullish trend aiming at the next resistance range at $0.3483 and other levels beyond.

Should MANA fail to hold below the bearish trendline, it may experience consolidation or fall back to the $0.2559 support level. When the price breaks through this support, it could continue its downtrend, possibly targeting $0.2170 and other lower support levels.

Currently, MANA is trading around $0.2792, marking a 3.7% decline. The cryptocurrency’s total market capitalization stands at $518 million, with a trading volume of $27 million in the last 24 hours. During this period, MANA’s market cap has decreased by 3.10%, and its trading volume has increased by 14.80%.

MANA trading at $0.27 on the 1D chart | Source: MANAUSDT on Tradingview.com

Featured image from LinkedIn, chart from Tradingview.com

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Godspower Owie

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August 31, 2024
Cardano Eyes $0.3389: Can Bulls Sustain ADA Above This Critical Level?

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Cardano (ADA) is approaching a critical juncture as it eyes a retest of the key $0.3389 support level. In recent trading sessions, ADA‘s price has previously risen above this level and is currently dropping for a second retest thereby raising concerns among investors and traders.

A successful defense of the $0.3389 support could signal a potential reversal and renewed bullish momentum, while a breach below this level may open the door to further declines. This article aims to analyze the significance of the $0.3389 support level for Cardano and whether bullish momentum can hold ADA above this key threshold by examining technical indicators and market sentiment.

With a market capitalization of over $12 billion and a trading volume of over $240 million, ADA’s price was down by 0.69% trading at around $0.3462 at the time of writing. Over the past 24 hours, its market cap has decreased by 0.68%, while its trading volume has fallen by 26.44%.

Current Technical Indicators: What They Reveal About Cardano

On the 4-hour chart, Cardano is trading below the 100-day Simple Moving Average (SMA) and is currently experiencing a bearish trend toward the $0.3389 mark. Given this bearish sentiment, it is likely that the bears could continue to exert control and push the price toward this critical level.

A 4-hour Composite Trend Oscillator analysis reveals that both the signal line and the SMA line of the indicator have successfully climbed above the zero line and are now approaching the overbought zone This suggests that the current drop could be temporary and that the bulls may reclaim control at the $0.3389 mark.

On the 1-day chart, Cardano is still trading below the 100-day SMA and it is attempting a bearish move toward the $0.3389, which means that the bears are currently in control and could potentially push the price lower.

Lastly, on the 1-day chart, both the signal line and the SMA line of the composite trend oscillator have dropped below the zero line into the oversold zone. This indicates that ADA’s price could reverse upon reaching the $0.3389 mark.

Analysis: Potential Outcomes If $0.3389 Support Holds Or Fails

An analysis of potential outcomes indicates that if the price of Cardano reaches the $0.3389 support mark and this key level holds, it could start to rise toward the $0.4233 resistance level. If the price successfully breaches this resistance, it may continue to test higher levels.

However, should the $0.3389 mark fail to hold and the price break below this level, the digital asset may continue to move downward toward the $0.2388 range. If this level is breached, the crypto asset may experience more price drops toward other support marks below.

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Godspower Owie

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August 10, 2024
MANA Soars As Market Optimism Returns, Next Stop $0.3713 Level

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The current price action of Decentraland (MANA) indicates that market optimism is on the rise as the digital currency regains its bullish momentum, with the price now targeting the key resistance level of $0.3713. This recent surge in MANA’s price occurred following a price rejection at $0.3099, marked by the formation of a hammer candlestick pattern.

MANA has shown renewed strength, attracting investors and traders who are eagerly waiting for an opportunity to capitalize on the potential upward movement, especially as it approaches the critical resistance level of $0.3713.

As MANA targets the $0.3713 price level, this article aims to explore the current bullish sentiment surrounding the token, including technical indicators and market trends. It will also evaluate potential resistance and support levels that the crypto asset may face, offering insights into the overall market outlook.

At the time of writing, the price of MANA was trading around $0.3472, up by 5.41%, with a market capitalization of over $662 million and a trading volume exceeding $33 million. Over the last 24 hours, there has been a 5.51% increase in MANA’s market capitalization, while its trading volume has fallen by 16.99%.

Technical Analysis: Current Market Sentiment And Trends

On the 4-hour chart, MANA has shown a significant bullish momentum as the price breaches the $0.3483 level and is now heading towards the key resistance level of $0.3713. Also, the price of MANA has successfully crossed above the 100-day Simple Moving Average (SMA), signaling a potential bullish trend and increased market confidence.

Source: MANAUSDT on Tradingview.com

The Relative Strength Index (RSI) on the 4-hour chart has successfully crossed the 50% level and is now moving towards the 70% level, which is considered to be in the overbought range. This increasing bullish momentum indicates that buying pressure is strengthening.

On the 1-day chart, although MANA is still currently trading below the 100-day SMA, the price has printed a hammer candlestick pattern followed by a bullish engulfing candle, which suggests a potential reversal from a downtrend to an uptrend.

Source: MANAUSDT on Tradingview.com

The 1-day RSI indicators also suggest that the digital asset may continue its bullish rally toward the $0.3713 resistance level as the RSI line is trending above 50%.

Potential Scenarios For MANA

MANA is currently bullish targeting the key resistance level of $0.3713. A successful breakout above this resistance could signal further gains, potentially pushing the asset to the next resistance level at $0.3927 and other levels beyond.

If MANA’s price is rejected at $0.3713 and fails to break above the level, it may result in a retracement or consolidation. Should the crypto asset fall back and break through the support level of $0.3103, it could signal the potential for further downward movement, possibly targeting $0.2809 and other support ranges.

MANA trading at $0.3476 on the 1D chart | Source: MANAUSDT on Tradingview.com

Featured image from LinkedIn, chart from Tradingview.com

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Godspower Owie

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July 27, 2024
XRP Resilience Sparks Further Gains As Price Surpasses $0.466 Level

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My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people – people who make an impact in my life no matter how little it is.

One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I’m so good at it. I am also very good at singing, dancing, acting, fashion and others.

I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone’s life. I don’t chase illusions, I chase dreams.

I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.

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Godspower Owie

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July 13, 2024
Ethereum At A Crossroads: Big Move Coming After Consolidation Phase?

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Ethereum, the second-largest cryptocurrency by market capitalization, is currently at a critical juncture as its price enters a consolidation phase. This period of price stability, marked by a narrow trading range, has left traders and investors in a state of uncertainty.

With Ethereum’s price hovering around key support and resistance levels, market participants are closely monitoring technical indicators and market signals to anticipate the next move. The current consolidation reflects a balance between bullish optimism and bearish caution, creating an environment of indecision that could lead to significant volatility once a breakout direction is established.

This analysis delves into examining Ethereum’s current price state to determine its potential future price action.

Market Overview: Ethereum Current Trends And Analysis

Currently, on the 4-hour chart, the price of Ethereum is moving upward toward the upper level of the consolidation zone, but it is still trading below the 100-day Simple Moving Average (SMA).

Source: ETHUSDT on Tradingview.com

A careful examination of the 4-hour Composite Trend Oscillator reveals that ETH’s price may still move upward as both the signal line and the SMA of the indicator are trending above the zero line. From this formation, it can be suggested that Ethereum may likely move to test the upper base of the consolidation before dropping again.

On the 1-day chart, ETH is actively bullish moving toward the upper base of the consolidation zone while still trading above the 100-day SMA. With the way ETH’s price is moving, it may move on to test the upper base of the consolidation.

Source: ETHUSDT on Tradingview.com

The 1-day Composite Trend Oscillator indicator reveals that although ETH is currently bullish, it may go bearish in the long run as both the signal line and the SMA are attempting to cross below the zero line.

Potential Scenarios: What’s Next For ETH?

A look at potential future scenarios for Ethereum’s movement post-consolidation suggests that if the price of ETH breaks above the upper base of the consolidation, it will begin to move upward toward the $4,099 resistance level. If the price breaches this level, it may move on to test its all-time high of $4,863.

In contrast, should the crypto asset break below the lower base of the consolidation, it will begin to move downward toward the $2,865 support level. If this level is breached, it will continue to move downward to test the $2,147 and probably other lower levels.

As of the time of writing, ETH was trading at around $3,607 and was down by 1.82% with a market capitalization of over $440 billion and a 24-hour trading volume of over $13 billion. Although its market capitalization is down by 1.77%, its trading volume has increased by 28.93% in the past day.

ETH trading at $3,589 on the 1D chart | Source: ETHUSDT on Tradingview.com

Featured image from Adobe Stock, chart from Tradingview.com

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Godspower Owie

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June 20, 2024
Avalanche (AVAX) Price Dips As Market Turbulence Persists

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AVAX is the native utility token of the Avalanche blockchain. The token is currently ranked 12th by market cap, with a total supply of 440,043,419 AVAX and a total trading volume of over $396,250,098 in the last 24 hours. Since its recent pullback at $36.15, AVAX has continued to move downward.

Currently, the general cryptocurrency market is bearish. This has led to the price of AVAX dropping below the 100-day Simple Moving Average (SMA) and the price might continue to drop in the next couple of days. As of the time of writing, the price of AVAX was trading around $33.52 and about 0.22% down in the last 24 hours.

Technical Indicators Point Toward A Sustained Downtrend For AVAX

To figure out where the AVAX price might be headed next, the following indicators can be used to examine the chart.

4-Day MACD: A technical look at the MACD indicator from the 4-hour timeframe, the MACD histograms are trending below the zero line, and both the MACD line and the Signal line crossed each other while trending below the MACD zero line, indicating a continuous movement on the downside. This can be seen in the below image.

4-Day RSI: The formation of the Relative Strength Index (RSI) in the above image also suggests a downward continuation movement as the RSI signal line is seen to have moved above the 50% level and then dropped below it. This suggests that sellers are still very much active in the market therefore overpowering the strength of buyers.

Alligator Indicator: A look at the alligator indicator from the 4-hour time frame shows that AVAX is trading below the alligator lines as the alligator lip and teeth have both successfully crossed above the alligator jaw. It can also be seen that the price tried to move above the alligator lines but failed to do so, suggesting that the price might continue to move in its downward direction.

The Coin Could Form A New Low

Conclusively, from the previous downward movement, AVAX has formed two resistance levels of $39.94 and $36.15 and a support level of $30.34. Currently, AVAX is moving toward this support level and if it breaks above this level, the price might drop even further to create a new low.

On the contrary, if the price fails to break above this support, it will reverse and start an upward movement toward its previous resistance level of $36.15. Should AVAX manage to break above this resistance level, the price might move further to test the $39.94 resistance level.

AVAX is trading at $33.44 on the 1D chart | Source: AVAXUSDT on Tradingview.com

Featured image from Shutterstock, chart from Tradingview.com

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May 11, 2024
Smartphone maker Foxconn unveils EV for Taiwan brand Yulon

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TAIPEI, Taiwan — The company that assembles smartphones for Apple Inc. and other global brands unveiled an electric SUV on Tuesday that will be produced for a Taiwanese automaker under a similar contract model.

Foxconn Technology Group said the SUV will be sold by Yulon Motor as the Luxgen n7 starting next year. It said the five-seat vehicle should be able to travel 700 kilometers (440 miles) on one charge. No price was announced.

Foxconn, also known as Hon Hai Precision Industry Co., plans to produce electric cars and buses for brands in China, North America, Europe and other markets. It said clients can modify their appearance and features.

The venture adds to a crowded global market with electrics offered by almost every established automaker and dozens of ambitious startups.

“Hon Hai will certainly redefine the EV industry,” company founder Terry Gou said in a statement.

Foxconn, headquartered in New Taipei City, Taiwan, is the world’s biggest contract assembler of smartphones and other consumer electronics.

Yulon, founded in the 1940s, assembles vehicles for Nissan Motor Co. and other automakers. The company launched its own brand, Luxgen, in 2009.

The Luxgen n7 is one of five proposed models for potential customers.

On Tuesday, Foxconn also displayed a five-seat crossover, the Model B, and a five-seat double-cab pickup truck, the Model V.

The company previously announced plans for a sedan developed with Italian design house Pininfarina and an electric bus, the Model T.

———

Foxconn: www.foxconn.com

Yulon Motor: www.yulon-motor.com.tw

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October 18, 2022