Investors in the cryptocurrency market are looking for buying opportunities despite the current volatility of Bitcoin and Ethereum. As a result, many traders are turning to bullish altcoins like KAVA, which has been showing steady price growth despite market selling pressure. KAVA, a native token of the KAVA blockchain, recently completed a higher low price...
Stacks (STX) has been one of the best-performing coins on the market this year. The token soared by nearly 500% from January 1st to its high of $1.31 only 18 days ago. However, like most cryptocurrencies, STX is now experiencing a pullback. In this analysis, we'll take a closer look at what's happening with STX and what investors can expect in the coming...
FTM is trapped between two levels, so what happens now? What is FMT? Fantom (FTM) is a decentralized blockchain platform designed to facilitate instant transactions at low fees, making it ideal for businesses and developers who need to process large volumes of transactions. FTM’s current situation FTM experienced an impressive rally recently, with its value...
The cryptocurrency token Optimism has reached a new all-time high; let’s see what happens next! What is Optimism? Optimism (OP) is a cryptocurrency built on the Ethereum blockchain. It is a new type of token used to pay for transactions on the Optimism layer 2 scaling solution for Ethereum. The Optimism protocol allows for faster and cheaper transactions by...
The Curve DAO token (CRV) appears to form a double RSI bullish divergence on the daily chart. The bullish divergence is a sign that the bearish momentum is fading off, clearing the way for possible reversal. RSI Bullish Divergence CRV's daily RSI is showing a strong bullish divergence against the short-term price and the long-term price action. In the short term,...
Over the past 3.5 months, Huobi Token (HT) has been developing a megaphone pattern, also known as the broadening pattern. The pattern is neither bullish nor bearish, but it hints at a period of heightened volatility as long as HT's price remains trapped inside the megaphone support and resistance levels. HT Megaphone Pattern The megaphone pattern can be...
Elrond (EGLD) has printed a bullish RSI divergence that supports more upside, at least until the next resistance around the $63 level is retested again. Additionally, Elrond is showing relative strength compared to the overall cryptocurrency market. These two technical factors combined offer a short-term bullish outlook for the Elrond price. Bullish RSI...
Cardano (ADA) has the potential to fall as low as $0.50. A major reason for this bearish scenario is ADA's descending channel, which the bears may try to tag again. This will be a classic break and retest price structure. Descending Channel A descending channel pattern has formed on ADA's daily chart, starting with the price falling from its all-time high of...
Yearn.finance (YFI) crossed above the 200-day simple moving average, which indicates the start of a new bullish trend. This is the first daily breakout and close above the 200 SMA since the September failed attempt. High Trading Volume Other technical factors add more confluence to the bullish case scenario, like the rise in the trading volume, which signals...
Avalanche (AVAX) has been one of the top-performing cryptocurrencies in the past 24 hours, with the price standing above the considerable psychological number of $100. Throughout this analysis, we'll show you how to apply the Elliott Wave theory to identify where we are in the overall bullish cycle. AVAX Elliott Wave Analysis Long-term Elliott Wave analysis...
As per the Elliott Wave analysis, the Crypto.com Coin (CRO) shows an impulsive price structure that calls for higher prices. CRO has gained more than 57% in the past 7 days, breaking above the mid figure $0.50. CRO is now looking ahead to eye another significant milestone – the $1.00 mark. Elliott Wave Analysis The Elliott Wave analysis suggests that the rally...
Solana (SOL) has been slowly and steadily moving to the upside like it is climbing a staircase. The staircase effect is an easy way to make sense of the technical picture, and it provides clear support and resistance levels to better time the market. Staircase Effect As the name suggests, the staircase effect happens when the price moves in a stairs-like pattern,...
OKB has been one of the top-performing cryptocurrencies over the past week, with more than 58% gains. A very rare chart pattern, which on the surface might not say much, is pointing to a trend in the making. The recent explosive move was triggered by the Bollinger Bands squeeze and hook pattern. Bollinger Bands Squeeze Pattern In technical analysis, the...
Bitcoin's (BTC) price seems to be following a very unique fractal pattern that suggests Bitcoin's price could hit the $30k support level by the end of the year. If BTC's price follows the same path it had during the first half of the year traders, should expect another pullback before the smart money will get back into the market, but that may not be the...
Near Protocol (NEAR) cryptocurrency was among the few digital currencies that sustained a big rally while the cryptocurrency market underwent a massive sell-off. In Elliott Wave analysis, the ABC pattern is a 3-wave pattern where wave A and wave C are equal in length. ABC Pattern From October’s 2020 low through March’s high, NEAR developed its first leg A. The...
Ethereum (ETH) has developed a bullish flag formation, which is a continuation signal that calls for a $5,000 price target. If the bullish flag pattern is confirmed, this could send Ethereum's price to a new all-time high above the previous high of $4,384. Bull Flag Pattern On the daily chart, Ethereum's flag pattern pole was created between 20 July and 13...
Terra (LUNA) threatens to reclaim the key 200-day simple moving average, which will signal a shift in the current trend. LUNA's price has successfully broken above the key 200-day EMA and the prominent psychological figure of $10.00, marking a change in the trend from bearish to bullish. Price Structure Starting with the May 23 low, Terra's price continued...
Bitcoin Cash (BCH) was trading back near the $382 low but the price failed to break below and is now in the process of developing a double bottom pattern. If BCH’s moves continue to be supported above the $382 support level, this temporary bottom can provide more fuel to the bulls. Downward Sloping Trendline The bulls need to overcome the downward sloping...