GAL Technical Analysis After breakout GAL has broke out of the triangle pattern on chart a few days ago, and has recently broke out of the bull flag, due to a strong trendline(blue in chart). However There is a resistance at the $3.400 area, and GAL will need to break this to continue the new move.
The RSI has a bullish Divergence from a few weeks ago. An interesting thing is also an RSI ATH in the 4H chart. The 9 EMA has been trailing nicely in the past candles except when price fell back to the blue support. The breakout volume is strong in lower timeframes, although not in the 4H timeframe as of the moment.
A good first TP when Long will be at the 0.236 Fib at $3.625, then the next TP will be at $4.000, a "milestone number". Stop loss will be at $2.800-$3.000. You can also short the resistance, although you may be going against the trend. If you intend to trade this, please do your own analysis first.
If bitcoin continues going sideways/breaks out, the likelihood of this hitting the TP is stronger.
Again, do your analysis first when trading, and have a good day.
Trader_ph
SC Breaking Out from its rangeSC or Siacoin is currently attempting to break the upper range + the 0.236 Fib. The current breakout candle has a massive volume spike, and RSI is diverging from the price in the past few days.
If it successfully breaks out, the first good TP will be 0.43 area, where the 0.382 Fib and the previous lower high sits.
Remember to do your analysis first
QIUSDT Analysis after Strong Breakout QI/USDT recently broke out of its month-long range, with strong volume. QI is now sitting at a bull flag and a new trendline in the 1H, that can strengthen the new uptrend. RSI is not looking ideal, as there is a bearish divergence, but it is not confirmed yet. 9-EMA is bullish.
QI can continue rising higher if it breaks 0.218(green line in chart).
After the breakout, a good short-term target would be 0.300, as it is a "milestone" number. A good stop loss would be at the bottom of the bull flag or the trendline.
Do note though, that we are in a bear market. This may decrease the profitability and movement of this cryptocurrency. Keep an eye on the price and RSI for the bearish divergence.
Do your own analysis first before trading, and have a good day.
BTC Technical Analysis: Make or Break support area BTC is at a crucial decision point. It can continue going sideways or go plunge straight down. Let's look at the chart to see where this can go.
Bitcoin broke the previous support(in red) today, confirmed to be resistance after the pullback in the 1H. Bitcoin also crossed under the yellow support line and the 0.618 Fib, however we should wait for the candle close. If broken, BTC may test the green support, which if broken, leaves room for price to dip into the 26k-27k area. BTC is also sitting on a possible lower channel, which we will see if it bounces or not.
There is still no strong signs of where BTC will go from it's range. I will keep updating my TA on BTC. For now, we'll see what happens.
Analysis: BiSwap(BSW) Breaking Out; Keep an Eye BSW has been consolidating for a while, but now it has done a breakout of the triangle pattern and the 0.236 Fib in the chart, with strong increasing volume. The RSI also did an early breakout. For a successful breakout, we might need to wait for the 1.30$ resistance to be broken(colored in aqua). I'll update this analysis as time passes.
GMT Breakout Opportunity; we Wait GMT recently broke 3$ and made a 50% move from yesterday. As of this writing, GMT is consolidating in a falling wedge pattern(usually bullish), and sitting at the 0.236 Fib level. It's possible that GMT will break 3.45 and reach up to 4.0 levels. Will be updating this post as time passes by.
Analysis: ASTR at a decision point, keep an eye ASTR is currently in an uptrend. It may continue the rally up; however, the trend is at a decision point. Where will ASTR head? Let's look at the 4H chart and see what we have.
The currently bullish factors:
1. Falling wedge formation, which is usually bullish
2. Tested Lower channel support
3. Price above EMA100
4. Possible early RSI breakout
The currently bearish factors:
1. Consolidation from April 11-15 breakdown(box in the chart)
2. 0.382 Fib old support turned into resistance
3. RSI Divergence from the last 2 peaks
So we have the bullish and bearish factors. The things that make ASTR on a decision point are:
1. Very tight consolidation between the 0.382 Fib and Lower channel
2. Wedge formation nearly completed
3. Decreasing volume over time
Forecast
If it successfully breaks out over the 0.382 Fib and the falling wedge, ASTR may reach 0.28, the first resistance, and may continue rallying into the upper channel. If it breaks the falling wedge and lower channel to the downside, the first support may be the EMA100 and the next supports are the 0.5 Fib and the previous low. Price and time will tell where this goes.
Here are things to watch out for:
1. Breakout of the lower channel to the downside
2. Breakout of 0.386 Fib
Thanks for reading this post, stay tuned for the next analysis! Also, if you are going to trade this analysis I suggest you DYOR first.
GALA in consolidation; Where do we go? Hello. GALA has recently exploded almost 200%, from 0.10 to 0.28. GALA still has more potential and can reach 0.5, but for now GALA sits in a range from 0.2 to 0.288. Where will GALA go? We will be looking at GALA.
Like I said above, GALA is sitting in a consolidation from 0,2 to 0.288, which is a big difference between the high and low of the range. We do not know for sure where price will go, but there are some bullish and bearish factors in play. I will list some important factors that can dictate where price will head:
1. Price sitting on 20EMA, if this holds we could see a move to at least 0.28. If not, We will see a fallback to the 50EMA.
2. Possible(possible!) Head and shoulders pattern formation. It will be a head and shoulders pattern confirmed if 0.20 is broken with high volume. The RSI divergence at the Left Shoulder and Head parts could support the possible h&s pattern.
3. Fading Volume, which means the consolidation box is validated. If we see increasing volume, it will be a sign that a big move is happening soon.
4. RSI Downtrend. A breakout in this trendline will be bullish, while the cross of the RSI 50 to the downside will be bearish.
5. BTC price action. If BTC falls very quickly to 50k we could expect a same violent downfall of GALA to possibly below the 100EMA. However, in the case where BTC doesn't move much, GALA has possibility to continue the uptrend it started earlier.
With these factors into play, we can predict where GALA will go. We have 3 scenarios:
1. Pullback to either box support or 100EMA. This may play out when BTC crashes to 50k or lower, or when hype for GALA runs out.
2. Continuing the upmove to 0.308, this may happen if BTC doesn't crash, and the RSI breaks out of it's pattern.
3. GALA Goes out of traders' attention and goes silent. This is unlikely to happen as there is a strong uptrend in the past couple of days.
What do you think will happen? Thanks for reading this post! Appreciate in advanced feedback in the comments.
Ellipsis(EPS) Potential Breakout Token! Technical Analysis Hello. In my technical analysis, Ellipsis(EPS) is a potential breakout token. I'll show you why.
What makes this a potential breakout cryptocurrency?
1. EPS has been in a triangle pattern from September until now, in which price hasn't broke out of yet.
2. RSI divergence in Late September
3. RSI approaching 70. While this sounds bearish at first, RSI can sometimes go above 70 when breaking out.
4. RSI hovering above 50. Will be confirmed if RSI cannot surpass below 50.
5. Price resting near support of price channel(sky blue dotted lines)
6. Good volume on rallies up to red dashed line. Bulls are getting stronger per "mini-rally", as evident in the chart(marked by orange arrows).
EPS should have some criteria for a breakout to take place. These are mine:
1. Triangle Pattern Breakout
2. EMA100 Breakout
3. Good volume on breakout
4. RSI pattern Breakout(green dashed lines)
My prediction is that if the breakout criteria is fulfilled, we may have a move to at least the upper part of the channel and the 1.618 Fib, which is a 130% move from the red dashed line. It may even break the channel and reach the 2.618 Fib.
Let's see how EPS plays out. I will be updating this post once in a while.
Thank you for reading! Give constructive feedback in the comments, would help me improve.
And remember, don't take this as advice for your trading. Do your own research first.
Shiba Inu(SHIB) Ready to wake up! Technical analysis Hello. Shiba Inu(SHIB) has been sleeping over the past few days, but the next wave of SHIB enthusiasm may be coming... or not. In my technical analysis we will look at SHIB and where it may be going.
SHIB is a meme coin which went up tremendously last October. This November however, SHIB kept making lower highs as the price consolidated and the hype died down. However, the hype may come back to Shiba Inu very soon.
What makes this coin ready to have a third wave? Here are my reasons:
1. lots of bull participation on the price pointed by green arrows. Notice how they jump up to the orange dashed line.
2. Prior consolidation
3. RSI sitting at 50, RSI roaming around 50 levels is what I like to find for possible future rallying cryptos
4. SHIB is still in an uptrend in the daily chart. This is true until the green dashed line is broken with a big bearish candle and heavy volume.
My criteria to consider this an 'awake' coin:
1. previous high (.000058) broken, marked by a cyan line.
2. Orange dashed line broken with good volume
3. RSI breaks its own pattern
If the above criteria is fulfilled we may see SHIB rally to the 0.618 fib or 0.00007 levels. But first, we may see a move to the green dashed line before the rally.
Thank you for reading! Give feedback in the comments!
Livepeer(LPT) ready to 2x again? Technical analysis Hello. In my technical analysis, Livepeer(LPT) may be set for a 2x from 60$ to 120$.
Livepeer recently did an amazing 250% move starting from November 1 until November 9. From the peak of 101.8$ it tumbled to support at the 60-62$ support and the 0.5 Fibonacci.
After that, Livepeer has formed a triangle pattern marked by the red and green dashed lines. I believe price will break the red dashed line, for reasons:
1. Previous bull run. This triangle pattern may be a continuation pattern, just like what happened to LRC(Check my old analysis of it below). Only time will tell.
2. Healthy triangle pattern volume
3. Early RSI pattern breakout. May mean that price will follow what the RSI did.
4. RSI above 50. When RSI crosses above 50, it sometimes means a change in trend.
In my analysis, what would make this a sure breakout? These are my criteria:
1. High volume on breakout candle
2. Price breaking the 0.5 Fib(plotted from 101.8 to 61)
3. RSI touching 60/70. RSI touching 70 will make this a sure breakout.
This is my analysis for Livepeer(LPT). Thank you for reading! make sure to give constructive feedback in the comments.
Internet Computer(ICP)Has great potential! Technical Analysis Hello. Internet Computer(ICP) in my technical analysis is ready to reach 100$ for the first time in 5 months.
What makes ICP a potential cryptocurrency? :
1. RSI bullish divergence, indicating that a reversal of the previous downtrend may have occurred.
2. Fresh price breakout of bearish trendline(white dashed trendline) a few days ago, indicating a reversal of the previous downtrend.
3. RSI Triangle pattern breakout before price trendline breakout(#2)
4. Price near 100EMA. (at first this may sound bearish, but a 100EMA break may be happening soon)
5. Good amount of volume on the breakout of the white dashed trendline. Many bulls on the breakout here.
6. ICP -98% from ATH. While doesn't sound bullish, ICP has more potential to move up. In some scenarios from other cryptocurrencies, price made it back to the ATH although it was pretty far.
But before we may see ICP reach 100$, we may need some criteria before confirming ICP to reach 100$. My own criteria is:
1. Break 100EMA with good volume. This is crucial in my opinion as if it doesn't break it we are not seeing a 2x move here.
2. RSI hovering above RSI 70. If this happens, it means that price is very bullish.
3. 0.5 Fib breakout. This Fib can confirm the breakout of the 100EMA.
Forecast: if ICP fulfills the above criteria quickly it may reach $100 or the 1.618 fib by Early December. However if the criteria doesn't fulfill we may see a rebound to the lower support of the price channel.
Thank you for reading! Drop feedback in the comments below, it would help me improve! Also tell me if you think the chart is cluttered and messy.
Also, don't take this as investment advice. Do your own research first.
Chainlink(LINK) breaking out, get ready to launch!Hello. According to my technical analysis, LINK is ready to have a good rise in price.
LINK recently broke the red dashed line and the 0.5 Fib in one daily candle, which is bullish.
LINK also broke out of the triangle pattern highlighted in orange, with healthy decreasing volume.
The RSI formed its own triangle pattern, in which it did not breakout yet. If we want LINK to make its journey to at least $40, the RSI must breakout of its red dashed line.
BTC also recently pumped to $66k, so the altcoins, including Chainlink, should follow.
Thank you for reading! Put constructive feedback in the comments below.
Loopring(LRC) Triangle Pattern Ready for Breakout Hello. Loopring(LRC) which has been consolidating over the past few days in a symmetrical triangle pattern. But the time is coming for LRC to finally move again. In my technical analysis LRC may go upwards.
Prior to the triangle pattern, LRC skyrocketed from a mere .40 to a high of 1.71. After the skyrocket LRC remained silent for a while with low volume. This means an incoming move is happening soon.
There is also a mini consolidation, marked with a purple dashed trendline. Price already broke out of it, which is bullish.
The RSI also formed its own pattern, with an early upside breakout compared to the price which may mean that price is breaking out to the upside soon.
The 9 and 20 EMAs should hold if the bullish breakout is to be strong. Right now, they act as a support.
In my opinion, I would consider the breakout to be taking place if the 0.5 Fib is broken. After that we might see a rally to the 1.618 Fib.
What do you think about Loopring(LRC)? Tell me in the comments!
Thank you for reading! Constructive feedback is appreciated!
Enjin(ENJ) sitting in a bullish triangle pattern Hello. According to my technical analysis, Enjin(ENJ) is ready to break its All Time High. We may see price go to 4$ , or maybe even 5$ in the next 2 weeks if we have a breakout.
In the 4 hour chart we can see a price triangle pattern, drawn with red and green dashed lines. Price is currently resting on this pattern. This is part of a healthy pullback, with falling volume and high volume on up candles.
Looking at the RSI, it also formed its own triangle pattern, in which it had a breakout already, unlike price where it is still consolidating. This is a bullish sign.
The 20, 50 and 100 MA still acts as support. If we want the breakout of the triangle to be a success, we will want these Moving Averages to hold.
Let's see how the price of ENJ goes. I will keep this post updated. Thank you for reading!
Bitcoin(BTC) bullish as it readies to march into 70k and beyond Hello. Bitcoin(BTC) in my technical analysis is ready to march into the 70k mark, and possibly 73k. BTC recently broke its ATH(red dashed line), and people will perhaps FOMO into the coin.
BTC broke its all time high with the help a triangle pattern breakout marked in yellow and green. The breakout candle had thrice the volume of the preceding candle, which signifies of a healthy breakout.
The Relative Strength Index(RSI) agrees with the price, having some breakout of it's own pattern.
One factor that contributed to the recent BTC rise in price is the 100 MA support, in which price had a hard time breaking through.
BTC is ready to move to the 1.272 Fibonacci, or the $70k level. It may even reach the 73k level or the 1.618 Fib by mid-November.
Thank you for reading! Give constructive feedback in the comments, thank you in advance!
By the way, this is no advice for your trading. Do your own research.
ALICE: The bull party has started! Hello. According to my technical analysis, the ALICE will continue to have a bull rally.
ALICE the past week has been sitting in a sideways range from 13.5$ to 16$. However, Price recently had a breakout of the channel with very strong volume, meaning that there may be a possible move to the upside.
Before the breakout, price was supported by the 100 EMA which helped launch the price to break the range resistance.
The RSI also had it's own sideways channel, and broke out of it in sync to the price's own breakout.
A possible scenario over the next few days is for ALICE to reach the 0.786 Fib, which is around the 20$ mark. If price can reach that this would be very bullish for ALICE.
What do you think about ALICE? Tell me in the comments below! Constructive feedback will be greatly appreciated.
Polkadot(DOT) ready to breach All Time High yet again 📈 Hello. My short-term technical analysis on Polkadot(DOT) shows that we can have a move to 57$ and beyond.
We have multiple supports reinforcing the 50-51 support level. We have:
1. ✅100EMA
2. ✅0.236 Fib
3. ✅Lower part of Price Channel
4. ✅Double bottom
The 14-RSI also is resting on its own support(green dashed trendline) with a breakout on it's own channel.
The price is in progress of breaking the red dashed trendline, which is bullish. When broken we may start seeing a bullish climb to $57, maybe even $60
DOT in my opinion has some really good potential. Let's see how this coin moves. I expect about a 10% move in the upcoming days.
Give constructive feedback in the comments, would really appreciate it! Thank you in advanced!
Filecoin(FIL) Ready to catch up to the crypto market Hello. Filecoin(FIL) has been performing rather slow, still -75% from its ATH(All Time High). According to my technical analysis, FIL is ready to catch up to the rest of the crypto market.
FIL has been sitting in a large triangle pattern composed of the yellow and green dashed lines in the chart. Price is currently at the support.
RSI shows some bullish signs: when price made a lower low, RSI made a higher low, forming a bullish divergence. RSI also formed its own triangle pattern. We can say its bullish if RSI breaks the red dashed line.
FIL barely moved when BTC made its own all time high. It's perhaps time FIL moves.
If we have a breakout, we can possibly have a rally to 0.236 Fib or $90 in the first few days
Thank you for reading this post, constructive feedback would be greatly appreciated.
MANA geared up for a bull run round 2! Hello. According to my technical analysis, Decentraland (MANA)looks to be ready for a round 2 bull run. Days of MANA consolidation may be over.
Former resistance(red dashed trendline) has been broken with a breakout candle with decent volume, which is bullish. The 100 EMA former resistance has also been broken.
The 0.618 Fib acted as support, helping price break the red dashed trendline and making the breakout more powerful
A key bullish factor here is in the RSI, where a bullish divergence has shown. Also assists in making the breakout more powerful.
There is one more resistance for the bulls to push through, and that is the 0.5 fib(blue color). In my opinion this fib needs to be broken before we can see a successful bull run.
Thank you for reading! Make sure to leave constructive feedback in the comments section. It would possibly help me improve.
Also, do not blindly follow this post. Do your own analysis first.
BTCUSDT: Rally incoming? 🤔 Technical Analysis Hello there trader! Today I will be showing to you my technical analysis on Bitcoin and how the future prices may move. Reminder, this is not financial advice.
To start off, BTCUSDT has been in a falling wedge pattern, which usually indicates a bullish continuation of the trend. However, sometimes falling wedges halt the uptrend and reverse it, just like in the falling wedge #1.
In falling wedge #1 the 100 Day Moving Average was easily broken(highlighted in yellow). In falling wedge #2 The Moving average has not been broken yet, although subject to change.
BTCUSDT has a heavily enforced support at the 40k area. There are 4 supporting elements of the support. The first one is the 40k number itself, a round number. The second one is the 100 SMA. The third one is the 0.382 Fib Line (plotted from the March 2020 Crash to the April 2021 Peak). The fourth one is in the RSI, with RSI bouncing at the 34 Level 4 times. This support is strong, and will be a challenge for the bears to break it.
The RSI has also broken out of its trendline earlier than price, hinting of the possibility of a rally.
Looking at the volume now, it has been steadily decreasing from August until now, hinting of a big breakout of the wedge in either direction.
The time difference between the 2 big dumps in the wedge #2 is 13 days. If the next dump is 13 days after the previous dump and BTCUSDT doesn't manage to breakout of the wedge, we may see a dump on October 3.
So, what is the conclusion of this analysis ? We may not see a bullish continuation if price doesn't break the wedge until October 3, but there are several bullish factors already that support a possible bullish continuation, just like the Support lines and the early RSI breakout. What I would do is to wait for the breakout to occur. (Reminder, this is not financial advice)
Thank you for reading my analysis! It would be appreciated if you would give a like and follow.
BTCUSDT: Bears commencing the start of a Dump 🐻Break 40k firstThis is just my analysis and predictions on BTCUSD. Do your own research.
Bitcoin's bull run from Mid-July to Early September gave us an 80% rise in price. But that bull run could be over. There are many bearish signals that indicate the end of the bull run.
1. There is a confirmed bearish Head And Shoulders(H&S) Pattern , confirmed on the Sept. 21 candle. The confirming candle was accompanied with very high volume.
2. Lower Highs and Lower Lows may mean a downtrend in price.
3. RSI Bearish Divergence at the Peak of the bull run, strengthens the possibility of a dump.
4. 200 Day MA Turned into resistance. Broken on the September 20 candle and became a confirmed resistance 4 days later
BTCUSD needs to break the 40k support if this bear run will truly start. 40k is a strong number. Let's see how this goes.
Thank you for reading! Like this post and follow me if you want more analysis!
SOLUSDT Ready for another bullish move 🐂These are just my analysis and predictions on SOLUSDT that I would like to share. This is not financial advice.
SOLUSDT Has many bullish signals in place. These include
1. Higher low after a series of lower lows
2. RSI Divergence from Sept. 22
3. Price hit strong support a few hours ago(light blue horizontal line)
4. Latest candle breaks Green moving average indicating an upcoming upmove
However for confirmation we still need to break the fat red line and the 99 SMA(purple) if SOL will be bullish.
I also predict an uptrend channel is forming(yellow lines).
What do you think about this analysis? Liking this post and following is appreciated very much! Comment down below on your Technical Analysis
