Coin360 Crypto Technicals: Daily Market Navigator
Written By Kasper
This daily series serves a purpose to educate and give some insight and technical analysis on the current prices of the bigger cryptocurrencies, based on our technical analysis. Today we will be covering BTC, ETH, ROSE and SOL on both higher and lower time frames. Don't forget to also check out our article on the fundamentals of trading and crypto technical analysis to further enhance your understanding of the market.
Higher Time Frame | $BTC, $ETH, $SOL/BTC
Bitcoin | W1
In the weekly view, Bitcoin (BTC) must re-establish its critical support-resistance (S/R) zone to suggest possible gains. As of now, the outlook appears somewhat uncertain as the price has closed below the current level.
Ethereum | W1
For Ethereum (ETH) on a weekly scale, the crucial task is to reclaim its important support-resistance (S/R) zone to hint at potential upward momentum. At present, the market sentiment seems somewhat bearish as the price has concluded below the current level.
Solana / Bitcoin | D1
Solana/BTC ($SOL/BTC) is currently positioned mid-range. If it surmounts the range's peak, we could anticipate further upward movement; however, if it descends below this range, lower prices are likely.
Lower Time Frame | $BTC, $ETH, $ROSE, $SOL
Bitcoin | H4
The earlier analysis holds; provided this level remains secure, the upward trend should persist. Only a breach of this level would trigger a downward movement for ($BTC).
Ethereum | H1
Ethereum ($ETH) currently seems to have a slight bullish tilt. If it cleanly surpasses the designated level, this could signify further upward movement.
Rose | H4
Rose ($ROSE) appears bearish until it can overturn the chart's marked level.
Solana | H4
If Solana ($SOL) aligns with Solana/BTC ($SOL/BTC), we should expect more upward movement above the marked level. However, if it drops below the other level, we might witness more downward trends.
Prior Analysis Recap
Bitcoin | H4
As previously discussed, Bitcoin ($BTC) surpassed the designated level and gathered liquidity in the chart-marked box.
To effectively monitor the coins discussed in today's analysis, consider creating a watchlist here. This will help you keep track of their price movements and stay informed about potential opportunities. These coins are worth paying attention to, as they exhibit notable market activity and could present promising trading prospects.
In conclusion, the overall trend across various cryptocurrencies remains bearish for the time being, until we see evidence to the contrary. Most of the coins under discussion are navigating within range-bound markets, and their movements are being analyzed on a level-to-level basis. This prevailing state of affairs highlights the importance of ongoing vigilance and thorough analysis in this dynamic crypto landscape.
Disclaimer: Please note that all information, data, and technical analysis provided in this content are for educational and informational purposes only and should not be construed as investment advice, financial advice or trading advice.
This article has been refined and enhanced by ChatGPT.