Market Insights

cryptomarket Ideas

ETH Price Analysis: Weekly Market Recap (June 26 – July 1)

The PCE of May was better than the previous value, and the power of shorts has slowed down. This Friday will usher in important NFP. This will restart the medium-term trend. Many financial markets pulled back after rise in NFP in last month. Although we all know that the increase in NFP is likely to come from political needs and the increase in illegal immigration. Therefore, there is a divergence between it and the unemployment rate. However, with the market's full interpretation, we believe that as long as NFP is not significantly higher than expected, the market may ignore NFP and price a...

By NovaX

Updated 14 hours ago

LONG

Bitcoin Price Analysis: Breaking Downtrend for Uptrend Continuation Towards $69,900

Bitcoin _ a Downtrend Breakout after reaching the 0.7 Fibonacci Retracement level. The breakout indicates an uptrend continuation, with the next target at $69,900. I want to help people to Make Profit all over the "World".

By NovaX

Updated 2 days ago

LONG

Ethereum Price Analysis: Is the Bull Run Over or Just Beginning?

ETHUSD Ethereum is struggling to break above the previous all-time high and might correct soon. Keep your long term vision Overall these messages are just preventing you from objectively looking at the chart. Ethereum is creating higher highs and higher lows, meaning that Ethereum is trading in an uptrend. Even if Ethereum is not able to break above the previous all-time high, market structure still remains decently bullish. Levels to watch: $4,000, $2,200 Philip - BasicTrading

By NovaX

Updated 5 days ago

SHORT

Ethereum Price Prediction: Slightly Bearish Outlook for the Next 24 Hours

The Securities and Exchange Commission (SEC) Expected Approval of Ethereum Spot ETFs The Securities and Exchange Commission (SEC) expected final approval of eight exchange traded funds (ETFs) applications chugs along in the US. The approval of their registration statement is expected by July 4, according to the news agency Reuters. They are thereafter ready to be listed. Market Forecast for Ethereum Spot ETFs “As with Bitcoin Spot ETFs, once the SEC signs off, ETFs could start trading within 24 hours. The Bitcoin ETFs have received $14 billion of net inflows, and various comparisons - market cap, ETFs based on futures, etc. indicate that...

By NovaX

Updated 6 days ago

LONG

Bitcoin Price Analysis: Is it Time to Buy BTC/USD?

I have a bullish outlook on BTCUSD based on the 30-minute chart analysis. The Elliott Wave theory signals the completion of wave (5) and the start of wave (a) upwards. I am targeting the 0.618 Fibonacci retracement level at 61958, with a potential further rise to the 0.5 level at 61834. The price action displays a distinct impulsive wave pattern succeeded by a corrective wave, indicating a positive trend. With an entry point at the current price of 61345, I anticipate a rise towards the mentioned Fibonacci levels. To manage risk effectively, the stop-loss is positioned just below the recent low...

By NovaX

Updated 6 days ago

Bitcoin Price Analysis: BTC/USD at Risk of Breaking Key $57-60K Support

Bitcoin's Upside Momentum Fades After a torrid rally though most of Q4 2023 and Q1 2024, Bitcoin has lost its upside momentum over the last 3+ months. Since then, the cryptocurrency has carved out a broad range between $57-60K on the low side and the all-time high near 73K on the topside. Potential Pressure on Bitcoin's Price As traders price in the potential selling of long locked-up supply from the Mt. Gox, BTC/USD could see the bottom of that range come under increasing pressure as we move into July. A confirmed break of $57K would take Bitcoin’s price notably below the short- and...

By NovaX

Updated 6 days ago

Weekly Ethereum Market Update: June 19th – June 25th

The market outlook The market fell further as we expected last week. During the economic data window, the market began to price in only one interest rate cut this year. This is not just for the crypto market but for all financial markets. This situation is likely to last until early July before bulls come back and bring enthusiasm again. During this period, the PCE released this Friday will bring about a small rebound. BTC ETFs and market sentiment In addition, multiple BTC ETFs have experienced net outflows for several consecutive days, which is also a microcosm of the US market sentiment. After...

By NovaX

Updated 1 week ago

LONG

Ethereum Price Analysis: Is it Time to Buy ETH/USD?

Going Long on ETHUSD The Elliott Wave pattern indicates the completion of wave (4) and the onset of wave (5) impulse. The target for wave (5) is the 1.618 Fibonacci extension level at 3602.46. Analysis The chart displays a clear corrective wave pattern followed by an impulsive wave, signaling upward momentum. Entering at the current price level of 3377.45, a move up to the indicated Fibonacci level is expected. The stop-loss is set just below the recent low of wave (4) to manage risk effectively. This setup offers a favorable risk-reward ratio for a long position.

By NovaX

Updated 1 week ago

Unlocking the Potential of Solana: In-Depth Analysis and Insights

Today's focus: SOL Pattern – Support Test Support – 123.50 Resistance – 140.36 Hi, traders. Thanks for tuning in for today's update. Today, we are looking at SOL on its daily chart. Few things to watch, key support being the main one. Will we see a bounce or a break? If we see a bounce with this, then continue the overall descending triangle pattern. Good trading.

By NovaX

Updated 1 week ago

BNB/USD Analysis: Unveiling the Complete Primary Trend and Latest Updates

Logarithm. Analyzing trends within a one-month timeframe can provide insights into the primary and secondary trends, as well as accumulation and distribution zones of a popular asset on a leading exchange platform. Understanding the direction of mass sentiment is crucial in setting trends in the cryptocurrency market. The line chart depicting the trend of a specific crypto coin on Binance's blockchain can offer valuable insights. Considering potential news events that could impact prices, such as market manipulation or geopolitical tensions between major powers like China and the United States, is essential for anticipating market movements. Examining the percentage decline from price peaks...

By NovaX

Updated 1 week ago