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, LTC, TOMO 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, $ETH
Bitcoin | W1
Our analysis of Bitcoin ($BTC) reveals a prevailing bullish trend, with a significant rebound from a key support zone. Market sentiment leans bullish until further, substantial evidence suggests otherwise. For additional price appreciation, Bitcoin must transform the noted resistance level into a support; failure to do so could potentially trigger a pullback.
Ethereum | D1
The weekly chart for Ethereum ($ETH) currently displays a bullish trend, having successfully concluded above a significant resistance level. This hints at the potential for further expansion.
Lower Time Frame | $BTC, $ETH, $LTC, $TOMO
Bitcoin | H1
Bitcoin ($BTC) is likely to reach the resistance level. If it manages to stay above this level and closes there, we can expect continued bullish momentum.
Ethereum | H1
The bullish trend of Ethereum ($ETH) is anticipated to continue unless proven otherwise, provided the indicated level is maintained as support.
Litecoin | H4
The trend for Litecoin ($LTC) appears bearish unless indicated otherwise, as it's starting to shed levels following a substantial previous rally. We may observe a pullback.
In terms of the $LTC/BTC ratio, the outlook also seems bearish given the loss of levels.
Tomo | H4
Currently, the outlook for TomoChain ($TOMO) is bearish. However, if it manages to flip the Support/Resistance (SR) level as shown on the chart, the trend could shift to bullish, particularly towards the area marked on the chart.
Prior Analysis Recap
Solana | D1
In line with our prior observation, Solana ($SOL) successfully maintained its support level and witnessed a bullish surge, reaching the resistance zone highlighted on the chart.
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 bullish 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.