Coin360 Crypto Technicals: Daily Market Navigator | June 26th 2023
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, INJ, RUNE and TOTAL1 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.
Crypto Spotlight
Higher Time Frame | $BTC, $ETH, $TOTAL1, $RUNE, & $INJ
Bitcoin | W1
Our analysis of Bitcoin ($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 | W1
Ethereum's weekly analysis presents a somewhat unclear picture. A definitive bullish trend necessitates the price to recover and steadily maintain above the range highs. On the flip side, if the support level is compromised, a shift towards the range lows could be expected.
INJ | D1
For Injective Protocol ($INJ), a daily time frame closure above the current level could indicate a potential upward movement. Conversely, if it fails to do so, we might witness a bearish trend.
TOTAL1 | W1
The current outlook for $TOTAL1 doesn't appear highly bullish, given that we haven't seen a closure above a significant resistance area on the weekly timeframe. A genuine shift to a bullish trend would require it to surpass this level.
RUNE | W1
When observing $RUNE on the weekly timeframe, maintaining the current range low could potentially lead to higher prices.
Lower Time Frame | $BTC, $ETH
Bitcoin | H4
For Bitcoin ($BTC), a bullish outlook is plausible if the current level is maintained. However, a price drop below this level could signify potential downward movement.
Ethereum | H1
Ethereum ($ETH) is presently trading between two critical levels. For further price continuation, we'd need to see a closure and retest of the level indicated on the chart. Failing that, the price may trend downwards.
Prior Analysis Recap
INJ | H4
As predicted in our prior analysis, Injective Protocol ($INJ) displayed a bullish trend, given the maintained level, as depicted in the chart below.
Watch List
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.
Market Wrap-up
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.