#TOTAL MARKET CAP ANALYSIS
The total cryptocurrency market cap is currently consolidating within a descending broadening wedge pattern, reflecting a phase of indecision in the market. Recently, it has rebounded from a key horizontal demand zone, suggesting that buyers are stepping in at this level to provide support.
However, the Ichimoku Cloud is acting as a significant resistance barrier above the price action, indicating that the market has yet to clear this hurdle. At the same time, the 200MA is providing strong support, from which the price has recently bounced.
A decisive breakout from both the wedge pattern and the Ichimoku Cloud could signal a shift in momentum, potentially triggering a strong bullish rally in the overall cryptocurrency market. Monitoring these technical levels will be crucial for confirming the next market direction.
#AKRO/USDT is surging from the demand zone and gearing up for a bullish ride 🚀
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#BTC/USDT ANALYSIS
After breaking out of the descending triangle, Bitcoin is gaining momentum, with the Ichimoku Cloud also indicating bullish strength.
Currently, the 200MA is acting as a resistance, and the price action is attempting to break through this barrier. A successful breakout above the 200MA would signal further bullishness for BTC.
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#BTC DOMINANCE ANALYSIS
BTC.D is rising after breaking out of the ascending triangle, with the RSI now entering the overbought zone, signaling a potential pullback soon.
If BTC.D continues upward while BTC declines, this could be a bearish signal for altcoins. On the other hand, if BTC.D falls while BTC moves sideways, it could indicate a bullish outlook for the altcoin market.
#AVAX/USDT ANALYSIS
AVAX is consolidating within a symmetrical triangle pattern, facing rejection from both the resistance trendline and the 200MA, which is serving as a barrier above the triangle. A clear breakout or breakdown is needed to confirm the next directional move.
#BTC/USDT ANALYSIS
Bitcoin is attempting to break out of its descending triangle pattern, currently encountering resistance at both the 100MA and the triangle's descending trendline. The Ichimoku Cloud is providing support beneath the current price action.
A breakout from this pattern would offer strong bullish confirmation. However, if the breakout fails, further consolidation within the triangle remains a possibility.
#ETH/USDT ANALYSIS
ETH is currently consolidating within a descending triangle pattern, trading just above a key horizontal demand zone. The Ichimoku Cloud is acting as a resistance barrier positioned above the triangle.
A decisive breakout above the resistance or a breakdown below the demand zone will be crucial in determining the next directional move for ETH.
#US DOLLAR ANALYSIS
The US dollar is consolidating within a descending triangle and is currently trading above the horizontal demand zone. The Ichimoku Cloud is indicating a bearish outlook, but a bounce from the demand zone is still possible.
To confirm the next move, we need to wait for a decisive breakout or breakdown. It's also worth noting that the US dollar often has an inverse relationship with the cryptocurrency market.
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Lying above the strong demand zone
Bullish harmonic pattern is showing its reversal zone
MACD crossover is showing bullish momentum
Expecting a big upward move from here 🚀
Targets are mentioned in the chart
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Читать полностью…Bitcoin short-term holder supply has fallen to multi-year lows, potentially limiting a price breakout, an analyst said.
Meanwhile, the market dominance of the largest digital asset by market capitalization has increased to levels not seen since April 2021.
#BTC/USDT ANALYSIS
Bitcoin has broken out of its descending triangle pattern with strong volume. It is currently holding above the 100MA, which is acting as a key support level, while the 200MA remains a resistance barrier.
A successful retest of the breakout would provide further confirmation for a bullish trend. Keep a close watch for any price action at these critical levels.
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Читать полностью…Bitget and Foresight Ventures jointly announced a strategic investment of US$30 million in TON token, which will be achieved by purchasing discounted TON tokens. They will be deeply involved in the governance and future development planning of the TON ecosystem, and will promote more potential dApps to quickly enter the market.
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#S&P 500 ANALYSIS
The S&P 500 is currently trading within the horizontal supply zone of an ascending triangle pattern, with the Ichimoku Cloud signaling bullish momentum. A breakout from this pattern, especially with strong volume, could lead to a robust bullish rally. This confluence of technical indicators reflects strong market sentiment, indicating potential for continued gains.
#OSMO/USDT ANALYSIS
OSMO is attempting to break through the horizontal resistance zone of an ascending triangle, while also challenging the 100MA, which has been acting as a resistance barrier. The Ichimoku Cloud is indicating bullish momentum.
A strong breakout above the triangle, followed by a successful retest, could trigger a bullish rally. It's important to monitor this closely for confirmation.
#BTC/USDT ANALYSIS
Bitcoin is currently consolidating within a descending broadening wedge pattern, facing rejection at both the 50MA and the Ichimoku Cloud, which are acting as strong resistance barriers. This suggests a potential downward movement in the near term.
However, if Bitcoin successfully breaks above the 50MA and the Ichimoku Cloud, it could signal a bullish reversal, with a breakout of the wedge pattern likely leading to a sustained upward trend.
#SAGA/USDT ANALYSIS
SAGA is consolidating within an ascending triangle pattern and is currently facing rejection at the triangle's resistance zone. Despite this, both the 21MA and 50MA are indicating bullish strength. We need to wait for a clear breakout or breakdown to confirm the next move.
#BTC/USDT ANSLYSIS
After a successful rebound from the horizontal demand zone of the descending triangle, the price is currently facing rejection at the resistance trendline of the triangle.
Additionally, the Ichimoku Cloud is acting as a resistance above the price action. A downward movement is likely at this stage, but for confirmation, we need to wait for a decisive breakout or breakdown of the pattern.
#TOTAL MARKET CAP ANALYSIS
The total cryptocurrency market cap is consolidating within a descending broadening wedge pattern and is currently rebounding from a horizontal demand zone. The Ichimoku Cloud is acting as resistance above the price action.
A breakout from both the Ichimoku Cloud and the pattern could trigger a strong bullish rally in the crypto market. Keep an eye on these developments.