Coin360 Crypto Technicals: Daily Market Navigator | June 28th 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, ADA, ARB, 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.
Crypto Spotlight
Higher Time Frame | $BTC, $ETH, $SOL
Bitcoin | W1
Our analysis of Bitcoin ($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
Currently, the Ethereum ($ETH) daily chart appears somewhat bearish unless the price can surpass the resistance level marked on the chart. Until then, that marked level serves as resistance.
Solana | D1
Solana ($SOL) presents a bullish trend on the daily chart, provided that the support level marked on the chart continues to hold.
Lower Time Frame | $BTC, $ETH, $ADA/BTC, $ARB
Bitcoin | H1
Bitcoin ($BTC) is presently trading in the mid-range, posing some risk to traders. If the current level is sustained, we could see an increase in prices. However, should it fall and close below the marked level, we should prepare for a bearish trend and potentially lower prices.
Ethereum | H1
Currently, Ethereum ($ETH) is trading in the mid-range, which introduces some level of risk. However, if it manages to attain and maintain the level marked on the chart, we could see a rise in price. Conversely, if it drops and closes below this level, a decrease in price can be anticipated.
Cardano / Bitcoin | H4
The Cardano-to-Bitcoin ($ADA/BTC) pair appears bearish, reflecting a rejection at the resistance level. We expect a downward trend unless other market indicators suggest otherwise.
Arbitrum | H1
Arbitrum ($ARB) currently presents a bullish outlook. We anticipate a potential retest of the identified support line on the chart, followed by a continuation towards the resistance box.
Prior Analysis Recap
Cardano | H1
As previously noted, Cardano ($ADA) showed bearish indicators, leading to a consequent drop in its price.
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.