Well i mentioned in my previous commantary we were on bullish orders, all the buy trades are closed for now . Well what scanarios we have? As we can clearly see that Market completed its W pattern which i mentioned in my all previous commantary, for now if the market closes above 2720-2718 resistance area then we'll jump into buy orders till 2740 first then 2755. On the otherhand if market closes h4 on resistance area then we'll also look to bearish orders till 2690 first then 2675. Furthermore, market could make retracement and gives the closing oh H4 below green area ,then we have proper bearish trades.
*Torrent Power Ltd. P&F Formation on Yearly Basis. Price BO > 1880 Needed & to be watched. If Sustains, then good to go. Other major Resistance levels before T1/T2. Downward Price Channel BO on Weekly Basis. Strong Vol. Consolidation. Continued traction. RSI: 1H>D=W
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took a chance on this setup basically there was no bos price was bearish ,am expecting a corection to the upside
The daily chart of CLV/USDT shows a recent spike in price within a relatively narrow range, indicating potential volatility and key levels to monitor. This analysis will discuss the recent price action, identify significant support and resistance levels, and interpret technical indicators to predict future movements. Price Action and Structure: CLV/USDT has recently shown a sharp rise, followed by a consolidation phase. The price is currently around $0.07757, with immediate resistance and support levels close by. Resistance and Support Levels: Resistance Levels: The immediate resistance is observed at $0.06447 (R1). If the price can sustain a breakout above this level, it might target the higher resistance at $0.13983 (R2), which is significantly above the current trading range. Support Levels: Support is found at $0.02366 (S1), a critical level to hold to prevent further declines. Additional support lies further down at $0.02468 (S2), which could serve as a secondary fallback in case of a more substantial retracement. Moving Averages: The chart does not specifically highlight moving averages, but the price being above the nearest support level suggests a possible bullish bias in the short term. Technical Indicators: MACD: The Moving Average Convergence Divergence (MACD) is almost level, with the MACD line very close to the signal line and the histogram near zero, indicating a lack of strong momentum in either direction. RSI: The Relative Strength Index (RSI) is at 57.17, suggesting a moderately bullish momentum without nearing overbought levels, providing some room for upward movement. Conclusion: CLV/USDT is currently experiencing a consolidation phase after a sharp rise, trading near significant support and resistance levels. The technical setup suggests that there is potential for further upside if it breaks above the resistance at $0.06447 (R1). Traders should watch this level closely for a potential breakout or rejection. The supports at $0.02366 (S1) and $0.02468 (S2) should be monitored for any signs of bearish reversal. Given the current readings from MACD and RSI, traders might expect some sideways movement before any significant directional trend develops.
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The daily chart of ETH/USDT illustrates a recent decline within a broader bullish trend, marked by the formation of a descending channel. This analysis will focus on the key support and resistance levels, as well as indicators to predict potential price movements. Price Action and Structure: ETH/USDT has recently shown a pullback after failing to breach the resistance at $4,064.12 (R1). The price is currently at $3,534.20, demonstrating a bearish short-term movement within a potential corrective phase. Resistance and Support Levels: Resistance Levels: The immediate resistance is located at $4,064.12 (R1). Overcoming this level may pave the way for further gains towards higher price marks. The upper boundary of the descending channel also presents a dynamic resistance that could limit upward movements. Support Levels: Primary support is found at $3,074.40 (S1), with additional support at $2,685.18 (S2). A break below these levels could intensify selling pressure, possibly leading to tests of lower supports at $2,101.09 (S4). Moving Averages: The price is currently trading below the moving averages, indicating bearish sentiment in the short term. These averages might act as dynamic resistance in case of price rebounds. Technical Indicators: MACD: The Moving Average Convergence Divergence (MACD) is currently above the signal line but shows signs of convergence, which could indicate a potential reversal or slowdown in the downward momentum. RSI: The Relative Strength Index (RSI) is at 67.00, suggesting that the market is neither overbought nor oversold, providing room for both upward and downward movements. Conclusion: ETH/USDT is currently in a corrective phase within a broader bullish trend. Key levels to watch are the support at $3,074.40 (S1) and resistance at $4,064.12 (R1). The current technical setup suggests cautious optimism for buyers, with potential for recovery if the market maintains support above S1. However, traders should remain vigilant for any break below this level, which could lead to further declines towards S2 and S4. Monitoring the MACD and RSI will be crucial to catch early signs of momentum changes or continuations of the trend.
I think I made a mistake while analyzing the chart, I missed a major point while analyzing.. the price will continue its uptrend for a while
The daily chart of RUNE/USDT displays a fluctuating price movement within an ascending trend, approaching a significant resistance level. This analysis will explore the current price dynamics, key support and resistance levels, and implications of the technical indicators to forecast potential future movements. Price Action and Structure: RUNE/USDT is currently in an uptrend, as indicated by the ascending support line. The price has recently experienced a pullback and is trading around $5.716. This level is crucial as it sits near the trend line, suggesting potential for a bounce if the support holds. Resistance and Support Levels: Resistance Levels: The immediate resistance is at $7.336 (R1). Overcoming this level could open the path to retesting previous highs around $11.460. Support Levels: Key support is established at $3.332 (S2). Before reaching this, the dynamic trendline and the price area around $5.716 (S1) will serve as initial support. Holding above these levels is vital for maintaining the bullish outlook. Moving Averages: The specific moving averages are not visible on the chart, but the price maintaining above the dynamic trendline suggests bullish sentiment in the midterm. Technical Indicators: MACD: The Moving Average Convergence Divergence (MACD) shows the signal line just above the MACD line but converging, indicating a potential reversal or slowdown in momentum. The histogram being near zero reinforces this potential pause in bullish momentum. RSI: The Relative Strength Index (RSI) is at 60.55, which indicates moderate bullish momentum and suggests there is still room for upward movement before reaching overbought conditions. Conclusion: RUNE/USDT is exhibiting signs of a sustained bullish trend with the price testing the ascending trendline. The critical levels to watch are the support at $5.716 (S1) and resistance at $7.336 (R1). A break above R1 could signal further bullish momentum towards higher prices, while a failure to hold S1 might see the price heading towards $3.332 (S2). The MACD and RSI indicate a cautious outlook in the short term, suggesting that traders should watch for either confirmation of trend continuation or signs of a potential reversal.
DLTR has had a rough 2024 having fallen from highs of 150ish to the low 60s. The company is still profitable and has a plan to deal with any increased Tariffs coming their way (one of the most pressing concerns). On the last earnings call they raised guidance after beating analyst estimates for the quarter. DLTR price is probably being held down by tax loss capturing. Expecting moderate price appreciation through the end of the year from funds that had no exposure as they initiate new positions. January should bring renewed interest with a target of 110 to 120 by Feb 1.