In the midst of an unprecedentedly turbulent phase for the cryptocurrency sector, the trading volume of XRP, a prominent digital asset, has seen a staggering ascent of 80% within a mere 24-hour timeframe, propelling its valuation to eclipse the $4 billion threshold. Detailed analyses reveal that the derivatives segment contributed a substantial $2.16 billion to...
The British Pound Sterling has manifested a discernible contraction towards the $1.25 valuation mark, signifying a pronounced bearish trajectory as it embarked upon the new month with a marked depreciation. This decrement facilitated the currency's traversal across the 200-day Simple Moving Average (SMA), a quintessential long-term technical demarcation situated...
Cryptocurrencies, spearheaded by Bitcoin, underwent a discernible descent below pivotal thresholds on Monday, a phenomenon ostensibly precipitated by a confluence of factors including diminished market liquidity amidst the protracted Easter weekend. Nonetheless, this downturn appears distinct from the profound corrections that recently beset the volatile landscape...
The Solana price analysis is predicting a bullish trend for today. An improvement in price has been observed since the start of today’s session as it reached up to $42.6 again. The price underwent correction during the second half yesterday to the extent that the entire trend turned bearish. However, the coin was on a route to recovery during the past week, but...
Netflix formed the possible head-and-shoulders pattern between April 26 and May 26, with the left shoulder created over the first seven trading days within the time period, the head over the subsequent eight days and the right shoulder was printed over the eight days that followed. On Tuesday, Netflix retraced slightly lower to back test the neckline of the...
GM printed a double bottom pattern on May 12 and Friday near the $34.58 level. On Monday, the stock was attempting to react bullishly to the formation but rejecting at the eight-day exponential moving average. GM has been trading in a consistent downtrend since May 4, when the stock topped out at $41.24. The downtrend is likely to continue unless GM is able to...
Bitcoin has been trading in a steep downtrend since March 28, with the most recent lower high printed on Tuesday at $32,645 and the most recent confirmed lower low printed at the $37,401 level on May 1. On Thursday, Bitcoin plummeted to the $25,338 level, which may be the next lower low, although Friday’s candle will be needed for confirmation. If Bitcoin closes...
Dogecoin was trading over 3% lower on Monday, in continued consolidation after a 5.5% decline on Saturday. Since then, Dogecoin has been trading in a sleepy sideways pattern, trading within a 1-cent range in consolidation. Sunday and Monday’s price action, which has taken place completely within Saturday’s range, has settled Dogecoin into an inside bar pattern. An...
Dogecoin fell through a support level at $0.135 on Friday, after struggling to hold above the level for the 24-hour trading period. If the crypto would have held above the key support area, Dogecoin would have printed a quadruple bottom pattern, making it likely to bounce up higher over the weekend. When the crypto fell below the level, however, Dogecoin printed a...
In its downtrend, AMC printed the most recent lower high at the $18.92 level on April 19 and the most recent confirmed lower low was formed on April 13 at $16.94. On Friday, AMC was trading down toward what will eventually be the next lower low in the pattern and bullish traders looking to enter for a bounce back up can watch for a reversal candlestick to...
Dogecoin was trading slightly lower on Wednesday afternoon, after attempting and failing to break up from a descending trendline that has been holding the crypto down since April 8. A descending trendline acts as a resistance level and indicates there are more sellers than buyers, as the price continues to fall. In order for a trendline to be considered valid, the...
Ethereum was trading almost 2% higher at one point on Tuesday, which caused the cryptocurrency to rise up above the April 16 high of $3,086.83, negating a downtrend pattern Ethereum had been trading in since April 3. Although Ethereum will need to print a higher low above Monday’s low of $2,880, the crypto has made the first indication it may begin trading in an...
Ford reversed into an uptrend on April 7, following a 43.72% decline that brought the stock down from its Jan. 13 high of $25.87 to a low of $14.56. Ford confirmed the uptrend on April 13, when the stock printed a higher low at the $15.22 level. If Ford closes the trading day near its high-of-day price, the stock will print a bullish engulfing candlestick on the...
On Sunday, Bitcoin was setting up a quadruple inside bar pattern, with all of the last four 24-hour candles inside April 13’s mother bar. The pattern leans bearish because Bitcoin was trading lower before forming the pattern. Bitcoin is also trading in a triangle pattern and is set to meet the apex of the triangle on Monday, traders can watch for a break up from...
Dogecoin was continuing its upwards ascent Friday, rising about 1.6% higher in a continued bullish reaction to a double bottom pattern the crypto printed on April 11 and April 12. The bullish reaction to the double bottom pattern at the $0.133 level caused Dogecoin to reverse course into an uptrend, with the most recent higher low printed on Thursday at the $0.136...
Shiba Inu was trading about 4.5% lower on Thursday in a second day of consolidation after over 21% higher on Tuesday, after Robinhood announced it had listed it. The price action on Wednesday and Thursday has taken place completely within Tuesday’s trading range, which has created a double inside bar pattern on the daily chart. An inside bar pattern indicates a...
Nio began settling into an inverted head-and-shoulders pattern on Feb. 17, completing the left shoulder of the formation between that date and March 1, the head between March 2 and April 4 and working to form the right shoulder between April 5 and Wednesday. The right shoulder is not completed yet, however, and will need additional trading days, where Nio trades...
If history is any guide, there may be good fortune ahead for shares of Zendesk , a so-called "golden cross" has formed on its chart and, not surprisingly, this could be bullish for the stock. Many traders use moving average crossover systems to make their decisions. When a shorter-term average price crosses above a longer-term average price, it could mean the...