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, ADA, and APT 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, $ADA, $ADA/BTC, $APT
Bitcoin | W1
Our analysis of Bitcoin ($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.
ADA | W1
Cardano's $ADA is currently in a downtrend, exhibiting bearish behavior. To hint at a potential reversal to an upward trend, it needs to close above the indicated level.
ADA/BTC | W1
The $ADA/BTC pair appears bearish if the weekly closing is sustained below the defined level. A bullish turn is only anticipated if the closing begins to occur above this particular level.
APT | W1
$APT is currently experiencing a downward trend. If it closes above the level identified on the chart, it would signal a bullish turn. However, the trend is assumed bearish until demonstrated otherwise.
Lower Time Frame | $BTC, $ETH, $ADA
Bitcoin | H1
Bitcoin ($BTC) currently resides in the midrange, which introduces some risk for traders. However, as long as it maintains the current level, it should be well-positioned for a continued upward trajectory.
Ethereum | H1
Ethereum ($ETH) is presently positioned in the midrange, making trading somewhat risky. Nevertheless, provided it upholds the current level, it has the potential for an upward continuation.
ADA | H4
Cardano's outlook seems bearish as it is losing ground. If it manages to close below the level marked on the chart, we could anticipate a further drop in its price.
Prior Analysis Recap
BTC | H4
In yesterday's analysis, I suggested that if BTC maintained its level, it would indicate bullish behavior. By diversifying your profit targets, you should be able to hit at least one of them under these conditions.
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.