UPCOM:FTM 5-10x potential to previous all time high. Beautiful price action on higher timeframe. Since the bottom in 2022, price has made 3 higher highs signaling bulls are back. Price is currently at a critical level. On the 2 week chart we have broken above the 50 RSI and we are now retesting the 50 (ideal entry). Price has currently retraced to the 0.618 fibonacci retrace of the latest impulse. Monthly timeframe’s also at an ideal entry. After making a new higher high and closing November with a huge bullish expansive and engulfing candle, price is currently trading at previous month lows. Will it hold? https://www.tradingview.com/x/A73NhpKw/
There are many trading styles and indicators to follow, but one constant is that when a price becomes overextended and investors have committed funds, it will eventually retrace to lower levels as consumer and investor behavior adjusts.
On this weekly reversal level I am looking for potentiel pullback move to the downside. The S&H&S configuration with all the other signals, give me a good conviction to start my first try for a short position. Looking for a big R:R. Great trade !
HyperLiquid, a prominent Layer-1 blockchain renowned for its decentralized derivatives exchange, has recently introduced native staking for its GETTEX:HYPE token. This move, coupled with promising technical patterns, has set the stage for a potential 58% surge in the token’s value. The Staking Overview HyperLiquid announced the launch of its native staking on Monday via a post on X (formerly Twitter). Token holders can now stake their GETTEX:HYPE tokens across 16 validators, contributing to network security and earning rewards in return. A notable aspect of this staking mechanism is the ability to stake locked tokens bound by a vesting schedule, though accrued rewards remain inaccessible until the lock-up period ends. At launch, HyperLiquid staked 300 million tokens, valued at approximately $8.4 billion. Within the first hour, users added another 7 million tokens, reflecting strong community participation. This development comes just a month after the GETTEX:HYPE token’s issuance, which debuted at $3.57 and has since soared to $27.89, according to CoinMarketCap data. This remarkable growth has propelled GETTEX:HYPE into the top 20 largest tokens by market cap, surpassing well-known assets like Bitcoin Cash (BCH), Litecoin (LTC), and Pepe (PEPE). With a market capitalization of $9.2 billion and a 24-hour trading volume of $2.64 billion, HyperLiquid’s exchange is generating over $1 million in daily revenue, as reported by DefiLlama. Technical Outlook Despite its fundamental strength, GETTEX:HYPE is currently down 2.66%, trading within a symmetrical triangle pattern on the daily chart. This technical formation often signals a potential breakout, though the direction remains uncertain until the price breaches either trendline. The relative strength index (RSI) stands at 42, indicating a neutral market sentiment. The upper triangle trendline aligns with the $30 resistance level, making it a critical threshold for bullish momentum. A breakout above $30 could trigger a 50% surge, targeting prices as high as $45. Conversely, a breakdown below the lower triangle trendline could lead to a significant sell-off, with prices potentially dropping by 14% Market Implications The introduction of native staking and the token’s rapid rise in market cap underscore HyperLiquid’s growing influence in the blockchain space. The ability to stake locked tokens enhances flexibility for investors, while the platform’s robust trading volume and revenue generation reflect its strong utility. For traders, the symmetrical triangle pattern presents a strategic opportunity. Monitoring the $30 resistance level and the lower triangle trendline is crucial for anticipating the token’s next move. A decisive breakout could attract further interest, while a breakdown may signal caution. Conclusion HyperLiquid’s latest staking initiative and GETTEX:HYPE ’s impressive market performance highlight the project’s potential as a leading player in the blockchain industry. While the token’s price currently hovers in a consolidation phase, both fundamental and technical indicators suggest that a major move is imminent. Traders and investors should keep a close eye on key levels to capitalize on the next phase of GETTEX:HYPE ’s journey.
If price rejects at last week's low and breaks the next hourly support that I have marketd there, then it is probably heading very much down. Then again it is natural because it is the end of the year and markets will loose a lot of liquidity at this time. The meaning of the colors of the different lines are there in the PDF in the pinned comment in my FREE telegram channel. Join my telegram channel for FREE Analysis by searching: @Tips4PipsB
New entry for the swing short position, very small SL for a big potential. Great trade !
Failed breakout and then failed breakdown had been the continuation pattern in BTC. Losing the -2 SDeviation can take the price down aroud the 88k zone. There will be the key if this is going to continue.
- USDCAD reversed from resistance zone - Likely to fall to support level 1.4400 USDCAD currency pair recently reversed down from the resistance zone surrounding the major long-term resistance level 1.4400 (which stopped the sharp uptrend at the start of 2020) intersecting with the upper weekly Bollinger Band. The downward reversal from the resistance level 1.4400 stopped the previous medium-term impulse wave (5). Given the strength of the support level 1.4400 and the overbought reading on the weekly Stochastic indicator, USDCAD currency pair can be expected to fall to the next support level 1.4315.
Washout to end the year. Equal and opposite move to the upside once the selling subsides. The panic sellers will fomo buy into new ATHs.
Long entry at 2,89 USD with a stop loss at 2,09 USD.