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Polkadot Price Analysis: Bearish Forces Continue To Melt Price? Polkadot Price Analysis: Bearish Forces Continue To Melt Price? Plokadot was exchanging close to $4.05 losing 2.43% a day. The RSI and 14 day SMA line showcased a bearish crossover indicating sellers' domination in the near term. Despite a strong recovery and improving sentiments in the crypto sector, Polkadot kept on melting down. Bitcoin has edged close to the $60K mark indicating a renewed confidence among investors and triggering a buy signal in several altcoins. however, Polkadot has failed to benefit from the improving market sentiments. At the time of writing, Polkadot was exchanging hands close to $4.05 recording an intraday loss of 2.05%. Currently at $6.048 Billion, the market cap of Polkadot has dropped by nearly 6% a week, due to the impact of negative sentiment. However, despite the downtrend, the price still hovers above the September lows, with investors anticipating a reversal. It remains to be seen whether the DOT bulls may register their presence to defend the monthly lows and make an effort for a price improvement. Derivatives Traders Liquidating Their Positions Polkadot price has been under the control of bears since mid March. During the period, DOT has plummeted nearly 66% from its annual high. The key EMAs have been acting as a dynamic resistance as the price has suffered rejection multiple times. In tandem with the price drop, the Open interest contracts have noted a liquidation on the long side. As per Santiment, the open interest contracts have dropped from $112 Million to $105 Million losing 6% In the last couple of sessions. Moreover, the daily transaction volume has surged by 21% a day to $122.65 Million. The volume to market cap ratio at 1.99% suggests low volatility in the crypto. Polkadot Bulls May Look To Defend The Lows Despite the recent drop, DOT investors remain optimistic about a potential buying from the monthly lows. Interestingly, the selling pressure has not invalidated a consolidation near the demand. Instead the accumulation has intensified for nearly 45 days adding hopes of a certain buying to the investors. Moreover, the trend outlook is bearish in the long term which has been a concern for the buyers. DOT price lags nearly 44% below the 200 day exponential moving average indicating a bearish control. Polkadot Price Prediction: Is September Low In Danger? Despite the recent efforts by the bulls and improved sentiments in the broader market, Polkadot has been unable to showcase recovery. recently, the bulls attempted for a recovery, however suffered rejection and price declined losing all the gains. while applying, Fibonacci retracement tool from the recent swing high at $5.15 to recent swing low at $3.8, the golden zone was observed between $4.4 to $4.6 level. The golden zone is crucial for the price to maintain a particular trend. Looking precisely over the charts, it was observed that the same area acted as a reversal zone for Polkadot price. A rejection from the golden zone of Fibonacci validated the presence of sellers at the higher levels. on the lower side, a breakdown below the recent consolidation may indicate a bearish continuation. Additionally, At the time of writing, RSI line and 14 day SMA line showcased a death crossover indicating a bearish continuation in the short term.
CRYPTO:DOTUSDShort
by Ritika_TCR
1
Potential targets for this riseAEVO's price reversed from its peak of $5.13, entering a bearish trend with lower lows and breaking multiple supports in Q2 2024. By the second month of Q3, bullish activity managed to halt the decline, but the price began consolidating in a narrower range below the 50-day EMA. According to AEVO price predictions, if it surpasses the 50-day EMA and successfully makes a change of character (ChoCh) near the $0.75 level, the price could soar. Potential targets for this rise are around the $1.00 and $1.75 marks. However, decreasing momentum might keep AEVO's price in an equilibrium state. Investors should avoid FOMO and conduct their own research (DYOR).
BINANCE:AEVOUSDLong
by Sam_TCR
The "Head and Shoulders": Real success rates.The "Head and Shoulders": Real success rates. Inverted Head and Shoulders: WATCH volumes when the neckline breaks!! Here is what we can say about the success rate of the inverted head and shoulders pattern in trading: - The inverted head and shoulders pattern is considered one of the most reliable chart patterns to anticipate a bullish reversal. - According to some sources, the success rate of this pattern would be very high, with approximately 98% of cases resulting in a bullish exit. - More precisely, in 63% of cases, the price would reach the price target calculated from the pattern when the neckline is broken. - A pull-back (return to the neckline after the break) would occur in 45% of cases. - However, it should be noted that these very optimistic figures must be qualified. Other sources indicate more modest success rates, around 60%. -The reliability of the pattern depends on several factors such as respect for proportions, the break of the neckline, volumes, etc. A rigorous analysis is necessary. -It is recommended to use this pattern in addition to other indicators and analyses, rather than relying on it blindly. In conclusion, although the inverse head and shoulders pattern is considered a very reliable pattern, its actual success rate is probably closer to 60-70% than the 98% sometimes claimed. It remains a useful tool but must be used with caution and in addition to other analyses. __________________________________________________________________ Head and Shoulders: Here is what we can say about the success rate of the head and shoulders pattern in trading: -The head and shoulders pattern is considered one of the most reliable chart patterns, but its exact success rate is debated among technical analysts. Here are the key takeaways: - Some sources claim very high success rates, up to 93% or 96%. However, these figures are likely exaggerated and do not reflect the reality of trading. - In reality, the success rate is likely more modest. One cited study indicates that the price target is reached in about 60% of cases for a classic head and shoulders pattern. - It is important to note that the head and shoulders pattern is not an infallible pattern. Its presence alone is not enough to guarantee a trend reversal. - The reliability of the pattern depends on several factors such as respect for proportions, the breakout of the neckline, volumes, etc. Rigorous analysis is necessary. - Many experienced traders recommend using this pattern in addition to other indicators and analyses, rather than relying on it blindly. In conclusion, while the head and shoulders pattern is considered a reliable pattern, its actual success rate is probably closer to 60% than the 90%+ sometimes claimed. It remains a useful tool but should be used with caution and in conjunction with other analyses. _____________________________________________________________________________ NB: In comparison, the classic (bearish) head and shoulders pattern would have a slightly lower success rate, with around 60% of cases where the price target is reached.
BITSTAMP:BTCUSDEducation
by Le-Loup-de-Zurich
1
Analysis of BTC Response to Previous FED Rate CutsToday's analysis focuses on the impact of past Federal Reserve rate cuts on Bitcoin (BTC) price action. In 2020, following a rate cut, BTC initially experienced a modest increase, followed by a significant decline of approximately -63%. The price found support around the 200-day moving average. As we approach the potential rate cut on September 18, 2024, we should consider the possibility of a similar market reaction. Key levels to monitor include $28,000 (300-day MA) and $37,000 (200-day MA). While historical patterns suggest caution, a strong rally to levels around $65,000 to $68,000 could occur. However, if BTC breaks its previous all-time high of $73,000, we might see a structural shift towards a more parabolic trend. Please note that this analysis is for informational purposes only and does not constitute financial advice. Proceed with caution and avoid making impulsive decisions based on short-term market movements.
INDEX:BTCUSD
by utkarshx27
DYM's price reversedDYM Crypto: An Altcoin To Monitor In 2024 After an initial surge of over 1000%, DYM's price reversed from its peak of $8.62, forming a bearish wedge and breaking multiple supports in Q2 2024. However, in Q3, the price stabilized around the $1.00 mark, consolidating in a range that indicated accumulation. This consolidation led to a wedge breakout, with intraday movements suggesting that bears are gradually losing control. If bulls manage to overpower the bears, DYM could target the 200-day EMA in the short term, having already surpassed the 20-day and 50-day EMAs. Despite the recent bullish intraday activity, a confirmed rally is yet to be seen. Confidence in the rally would increase if the price rises and sustains above $2.30, indicating a change of character (ChoCh). Short-term price targets for DYM are $2.30 and $3.20, while long-term targets, after achieving the short-term goals, are $5.20 and $7.70. However, if momentum does not pick up, the price may continue to consolidate or even drop below $1, which could undermine investor confidence. Therefore, investors should avoid FOMO and conduct their own research (DYOR).
BITFINEX:DYMUSDLong
by Sam_TCR
NEAR/USDT: Head and Shoulders Pattern on 1-Hour TimeframeCurrently, NEAR/USD is forming a head and shoulders pattern on the 1-hour chart. If this pattern plays out, we could see a decline toward the lower trendline of the ongoing falling wedge. Additionally, a smaller head and shoulders pattern is unfolding, with a potential target range of $3.90-$3.80. A robust support level is present around $3.80. It is important to note that today's Federal Reserve rate decision could lead to a market pump, which may invalidate the current head and shoulders patterns. Therefore, exercising patience and awaiting confirmation is essential for successful trading. Please remember, this analysis is for informational purposes only and does not constitute financial advice. Trade at your own risk.
by utkarshx27
Can GALA Turn Bullish AMid Continuous Accumulation By Hodlers? GALA's price performance was robust until early March 2024, peaking at $0.086279. However, it struggled to maintain these gains, with the bullish trend failing and the price forming lower lows amid a declining trendline. Efforts to sustain gains were evident as the GALA price formed a support level at $0.0384 following a liquidity grab on April 13, 2024. For nearly two months, the price consolidated within a Darvas box range in an attempt to surge. On June 7, 2024, the support was lost following a significant sell-off from the upper boundary of a wedge formation. It coincided with the 50-day and 200-day EMA bands. The breakdown of the Darvas box indicated a loss of critical support for the bulls. This resulted in a sharp decline of over 75% from the ATH of 2024, as the price fell within a narrowing wedge. Despite these setbacks, the GALA chart showed a liquidity grab on August 5, 2024, and over the past 45 days, the price has only recovered 36% of its previous gains from the historical demand zone. The 20-day, 50-day, and 200-day EMA bands present significant resistance that could hinder further gains. However, the possibility for the outlook to change would be, if GALA manages to break through these levels. A critical level to watch in a bullish stance is $0.02686, which could be pivotal for a potential rebound and Change of Character (CHoCH). Per the GALA price prediction, support levels were at $0.012533 and $0.016055. On the other hand, resistance levels were at $0.026864 and $0.038141.
BITFINEX:GALAUSDLong
by Sam_TCR
TIAUSDT: A Bullish Breakout or False Hope? Key Levels to WatchYello, Paradisers! Are we about to witness a massive bullish move in TIAUSDT, or will it break down and catch traders off guard? 😱 Let's break it down. 💎TIAUSDT has broken out of its descending channel and is in the process of forming a W pattern, which is increasing the probability of a bullish move. 💎However, for the bullish scenario to truly play out, we need TIAUSDT to break above the resistance zone and close a candle above it. Only then can we expect further upward momentum. But remember to closely watch BTC's price action as well, as it will increase the overall probability of success. 💎In the case of a pullback, we could see a bounce from the small support level, but for confirmation, we need to see a Change of Character (CHoCH) indicating a shift back to a bullish market structure. This will significantly improve the odds in our favor. 💎However, if TIAUSDT breaks down and closes a candle below the support zone, it would invalidate our bullish scenario and we’ll need to re-evaluate. Be disciplined, trade smart, and always wait for confirmation before making any moves. MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise_Nathan
Breakout Point Is Not So Far Anymore In SOL Price Zooming out to the daily time frame, it's evident that the declining trend line is just above the current SOL price. A breakout here could indicate a significant upward movement. Since SOL and many other altcoins often follow Bitcoin's sentiment and actions, if Bitcoin can return to its previous local high of just over $65,000 and surpass it, the bull market could resume, and altcoins might start to rally. The potential bull run targets for SOL before the end of the year are $160, $200, and $260. However, if SOL drops below $120, it could be at risk, likely due to a simultaneous decline in Bitcoin. Given Bitcoin's strong fundamentals and positive sentiment, optimism remains high.
COINBASE:SOLUSDLong
by Sam_TCR
A New All-time High Next To Come In MOG Price?Is A New All-time High Next To Come In MOG Price? The daily chart of MOG shows that the price recently fell into a wedge pattern but has now broken out of it. Despite this breakout, the price is currently facing resistance at the 20-day, 50-day, and 200-day EMA bands. A strong push from the bulls could overcome these dynamic hurdles, and maintaining levels above these EMAs could indicate a change of character (ChoCh) on the daily chart. Similarly, if the breakout continues, a new all-time high could be targeted after overcoming the obstacles along the way. The MACD histogram is trending bullish, and the RSI is finding support on the 14-SMA smoothened line. Overall, the combination of these indicators with the price action suggests a bullish outlook ahead.
CRYPTO:MOGUSDLong
by Sam_TCR
BTC/USDT Bearish for Short term/ Mind term There are multiple factors for the bearish market 1. BTC made a Head & Shoulder pattern on 1 HR time frame. 2. As we all know, September is not good for BTC. The prices retested the 60800 resistance, which we broke after a past dump 3. BTC broke a trendline on 1hr time frame and 4HR time frame. 4. It is taking support on 200 MA Once BTC breaks the MA and gives the closing below,, you can take safe entries and Short BTC. Please note the profit you make from Future reinvest and buy BTC on Spot because, ultimately BTC is on a bullish mode For more update follow me on TV.
Short
by intelligentSto81389
1
Baby Doge Coin Lifts Off 80% Amid Listing On Binance: What's NexBaby Doge Coin Lifts Off 80% Amid Listing On Binance: What's Next? Binance announced the listing of three new cryptocurrencies Baby Doge Coin, Turbo, and Neiro Ethereum Baby Doge Coin price gained a massive 86% following the listing announcement. Binance, the world's largest cryptocurrency exchange announced the listing of three meme coins Baby Doge Coin, Turbo, and Neiro Ethereum with an applied seed tag. The seed tag means over a cryptocurrency means that it will be monitored for 90 days. Following the announcement, BabyDoge's price exploded and was currently up over 86% in intraday. Despite the meme coin market trading in with a bearish bias, still, these new listing coins seemed to be in the top trending ones. Talking about the other two, Turbo has also benefited from being listed on Binance and was up over 23% at the time of writing. While the other two witnessed positive change in their price, NEIRO headed downwards losing 36% in intraday. BABYDOGE: Twitter Chatter Skyrockets Amid Binance Listing In a recent post on x (Formerly known as twitter), Binance posted listing of three tokens with an added seed tag. while trading of these tokens will start from today, however, the users will also be able to place withdrawal requests from Tuesday, 17th September. x.com The price as well as on-chain metrics of Baby Doge Coin noted a sharp growth following the announcement. As per Santiment, an on-chain analytics provider, the social metrics have noted an exponential growth amid the listing news on Binance. The social metrics includes social dominance and social volume and measures the change in influence of asset among the users on various social media platforms. Various social media platforms like X, Telegram etc. act as a medium for recent updates and developments going on in a cryptocurrency. An increased engagement of the users highlights a possible surge in demand which could fuel the asset price higher. Additionally, the intraday trading volume has surged by a massive 2686.5%. As a result the daily transaction volume has reached nearly 60% of the market cap suggesting high volatility. The intraday transaction volume was $214.8 Million against a total market cap of $303 Million. What’s next For Baby Doge Coin? following a 86% surge in Intraday, Baby Doge Coin price has reached at a three month high in less than a day. The price has pumped totally on the basis of sentiments however, one good thing that happened with the token was the trend shift to bullish territory. BABYDOGE price blasted in intraday leaving behind the 50 and 200 day Exponential moving average which were acting as a dynamic resistance earlier. The recent surge has flipped them turning into a support ones. On the higher side, if BABYDOGE breaches $0.00000000209 which is the intraday high it may again show strong upside rally as the community sentiments are higher. whereas, if the price stalls near the resistance the price may head for a profit booking as the short term traders have got good in intraday itself. The technical indicators RSI suggests a overbought condition at the moment which may trigger a profit booking among the investors.
CRYPTO:BABYDOGEUSDLong
by Ritika_TCR
Fantom (FTM/USDT) – Daily Timeframe AnalysisCurrently, Fantom (FTM) is forming an inverse head-and-shoulders pattern on the daily chart, a traditionally bullish reversal signal. The key support and resistance levels have been highlighted, along with an order block for potential exit points. Based on market dynamics, I'm anticipating a minor pullback before a continuation of the uptrend, as reflected by the money flow and wave trend indicators, both pointing upwards. Upcoming Market Considerations: The upcoming FOMC meeting, scheduled for September 17-18, may introduce heightened volatility across global markets, including the cryptocurrency sector. A potential rate cut is being speculated, which could catalyze a short-term rally in Bitcoin and altcoins, potentially followed by a broader correction. Disclaimer: This analysis is for informational purposes only and should not be considered as financial advice. Please ensure thorough research and risk management before making any trading decisions.
Long
by utkarshx27