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ETH Rejection at $2,461: Bearish Target $2,320?The Ethereum (ETH/USDT) chart on the 1-hour timeframe shows a significant price rejection from the $2,461 level, which is a key resistance zone. The price is currently hovering around $2,406, and the trend is favoring a bearish outlook. Here is a brief analysis and trading strategy: Key Levels: Resistance Zone: $2,461 - $2,460 (red zone) Support Levels: $2,357 (first target), $2,320 (secondary target) Analysis: The price is facing strong resistance from the $2,461 level, with multiple rejections indicating the dominance of sellers. The short-term moving averages are aligning with the bearish trend, and the price is struggling to break back into the resistance zone. The next probable move, as shown by the red arrows, is a bearish continuation towards the first support level at $2,357, with a further possible drop to $2,320 if the selling pressure continues. Trading Strategy: Short Position: Consider shorting near the $2,414 - $2,461 resistance zone if the price fails to break above it. Target $2,357 initially, and if the bearish momentum continues, aim for $2,320. Stop Loss: Place a stop just above the $2,461 level to limit risk. This setup favors bearish traders, but monitor the price action closely near the support levels for any signs of reversal.
by Suyouu
BTC at a Crossroad: Bounce or Drop to $57,885?The BTC/USD 4-hour chart shows several key technical patterns that can guide a trading strategy: Resistance and Downtrend: There is a visible resistance zone around $62,441, marked by the red area and a descending trendline. The price has previously reacted at this level and rejected it, indicating that sellers are currently in control around this region. Any attempt to break above will face resistance, and short positions can be initiated near this level. Support Zones: The $57,885 level is a crucial support area. If the price falls below the current zone (around $60,800), we can expect it to test the $57,885 support. A break below this support would open up more downside potential, possibly triggering stronger sell-offs. Potential Rebound: The blue path shows a possible bounce from the $60,800 region, leading to a brief upside before hitting resistance again. However, unless BTC can decisively break above the $62,441 level, this upside is likely to be limited. Strategy: Short Position: Enter near $62,247 - $62,441, with a target towards $60,800 or lower. Tight stop loss just above the descending trendline. Long Position: Consider entering near the $57,885 support if the price holds, targeting a potential recovery back to $60,800.
BITSTAMP:BTCUSDShort
by Suyouu
BTCUSDT Dips: Sell Near Resistance or Buy at Support ?Today's BTCUSDT market movement is influenced by several key factors, along with technical signals from the chart. Key News Impacting BTCUSDT: U.S. Economic Data: Recent positive employment data from the U.S. has strengthened the dollar, which often puts downward pressure on Bitcoin as investors lean towards safe-haven assets. Regulatory Developments: Ongoing discussions around cryptocurrency regulations, particularly in the U.S. and Europe, are creating uncertainty in the market, leading to cautious trading behavior. Institutional Interest: Despite the recent pullback, institutional interest in Bitcoin remains strong, which could support prices at key levels. Technical Analysis: The BTCUSDT chart shows a significant resistance level near $65,937, where sellers have previously dominated the market. The price has now retraced from this resistance and is showing potential to move down towards the support zone around $53,967, which could provide an ideal buy opportunity for bulls. Recommended Trading Strategy: Bearish Scenario (Sell) : If BTC remains below the resistance level of $65,937 and fails to break above, a short position can be considered. Target the $58,200 level initially, with a deeper target near the $53,967 support zone. Bullish Scenario (Buy): For those waiting to buy, entering around the $53,967 support zone offers a strong potential bounce as this area has historically attracted buyers. Traders should keep an eye on news regarding regulatory shifts and institutional moves, as these could trigger rapid market changes, particularly if BTC nears critical support or resistance levels.
by Suyouu
Gold price today: expected to continue the decline!Hi everyone! The global gold price continues its downward spiral today, extending its decline from the peak of $2,670 per ounce and at times dropping close to the $2,600 mark. This marks the sixth consecutive day of losses for the yellow metal, with the primary reason being the strong rally of the US dollar. The US Dollar Index has now hit its highest point in nearly two months, making gold more "expensive" for those trading in other currencies. Adding to the pressure, the market is also grappling with expectations around the US Federal Reserve's (Fed) potential interest rate cut in the upcoming November meeting. According to the latest Fed policy meeting minutes, some officials are leaning toward a more significant rate cut, while others favor a more conservative 25 basis point cut, arguing that a 50-point cut might be too risky.
OANDA:XAUUSDShort
by ConanTradingFX
XAUUSD: Should I buy or sell!Hello everyone! Today, gold is showing a clear downtrend. Especially after breaking through the key support level at $2630, the downward trend has become even more pronounced. This decline is further confirmed as gold continues to trade below the EMA 34-89 moving averages and remains confined within a parallel descending channel (2625 - 2645), signaling that buying momentum in the market is gradually weakening. Additionally, investor sentiment has been dampened as expectations of the Fed maintaining its loose monetary policy have significantly diminished. This has given the USD more strength, further pressuring gold, a non-yielding asset. With these clear signs of weakness, according to Conan's analysis, it's highly likely that gold will continue to drop in the short term, potentially falling below the $2600 mark as long as the descending channel remains intact.
OANDA:XAUUSDShort
by ConanTradingFX
Gold Faces Major Resistance, Risk of Deeper DeclineGold is currently fluctuating around $2,614.145, sitting below key resistance levels at $2,650.165 and $2,624.195. These are significant barriers that buyers need to break through to sustain the upward momentum. However, with the EMA 34 and 89 lines positioned above the price, selling pressure remains dominant, reinforcing the current downtrend. If these resistance levels cannot be breached, gold may face a deeper correction, potentially falling to the support level of $2,604.393 and further down to $2,576.672 if selling pressure persists. Geopolitical tensions in the Middle East, along with key economic news from the U.S., are fueling strong market volatility, making investors increasingly cautious.
OANDA:XAUUSD
by Zola_Hello
USOIL Will Go Up! Buy! Take a look at our analysis for USOIL. Time Frame: 9h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 74.20. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 77.51 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
ICMARKETS:XTIUSDLong
by SignalProvider
1
USDCHF Will Grow! Long! Here is our detailed technical review for USDCHF. Time Frame: 30m Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 0.855. Considering the today's price action, probabilities will be high to see a movement to 0.856. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
Gold Price Today: Analysis and Strategy.The trading session on October 8th, 2024, witnessed a sharp correction in gold prices. As predicted in the previous analysis, there’s a high likelihood that today's session will mark the bottom of this correction. At this point, we will wait for a good entry point to hold a long-term position. Today's Trading Outlook: Primary Trend: Focus on SELL scalp (while considering BUY for long-term holds). Key Price Levels to Watch: SELL Zones: 2630 - 2635 and 2647 - 2652. BUY Zones: 2607 - 2612, 2595 - 2600, and 2580 - 2585. Wishing everyone successful and smooth trades!
OANDA:XAUUSD
by Pierce_Bowers
US100 Is Very Bullish! Long! Take a look at our analysis for US100. Time Frame: 9h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is trading around a solid horizontal structure 19,879.7. The above observations make me that the market will inevitably achieve 20,228.4 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
CAPITALCOM:US100Long
by SignalProvider
2
GOLD Is Going Up! Buy! Please, check our technical outlook for GOLD. Time Frame: 4h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 2,637.609. Taking into consideration the structure & trend analysis, I believe that the market will reach 2,658.674 level soon. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
OANDA:XAUUSDLong
by SignalProvider
1
CHFJPY Will Go Higher From Support! Buy! Take a look at our analysis for CHFJPY. Time Frame: 2h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 172.733. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 174.189 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
EURUSD Continues to Decline Amid Stronger USDToday, EURUSD continues its downward trajectory, trading below key levels as the US Dollar strengthens. The pair has been under pressure due to positive US economic data, which has fueled expectations of prolonged higher interest rates by the Federal Reserve. Meanwhile, eurozone economic outlook remains uncertain, contributing to the weakening of the Euro. As a result, EURUSD shows no significant signs of recovery, with bearish momentum dominating the market. Traders are now eyeing key support levels to assess the next move for the pair.
by Pierce_Bowers
1
SOLUSDT todayBased on the chart for SOLUSDT, here's a short and concise analysis: Current Trend: The price has broken below a key trendline, indicating potential further downside. Resistance: The area around 145.27–145.91 USD serves as the nearest resistance zone, where price previously rejected. Support: The price is approaching the 141.07 USD level, and a deeper drop could lead to the next key support around 138.08 USD. Strategy: A bearish scenario is likely to play out, targeting the 138.08 support zone if the price continues to weaken after failing to reclaim the resistance. Watch for price action near the 141.07 level for potential short opportunities.
by Suyouu