“ETH EYES $ 3.400 After Triangle Breakout as Majoor Coins Look North.”, – WRITE: www.coindesk.com
This is a Daily Analysis of Top Tokens with Cme Futures by Coindesk Analyst and Charterred Market Technician Omkar Godbole.
Bitcoin: Re-test of Record Highs LikelyBTC’s Hourly Chart Shows that prices have risen out of the descending Channel, Forming A Higher Low At At Aund $ 117,000 Early Today. Additionally, prices have crossed about the Guppy Multiple Moving AVERAGE INDICATOR. Guppy’s Short-Term Ema (White) Band Is About to Shift Above the Long-Term (Red) Band, Suggesting Renewed Upside Momentum.
The Stage Looks Set for A Rally to Record Highs, with Accelerated Gains Likely Once We Move Above the Ichimoku Cloud. In Case, Prices Fall Below 117,000, There Is A Possibility of An Extended Pullback, Posibly to $ 111.965, The Breakout Point Identified by the May High.
The Bullish Case Looks Stronger with Cumulative Open Interest in USD- and USDT-Denominated Perpetuals on Offshare Exchanges, Including Binance, Okx, Deribit, BYTVIT, An Hyer. In Nearly Two Years Alongside Positive Funding Rates. The Combination Suggests Growing Interest in Bullish Levered Bets.
- AI’s Take: Bitcoin is Showing Strong Signs of Resuming Itly, with Momentum Indicators Flipping Bullish and Hinting at New Record Highs Soon. Bulls, Just Be Sure to Hold That $ 117,000 Support; A Break There Could Trigger A Deeper Correction.
- Resistance: $ 120,000, $ 123.181.
- Support: $ 117,000, $ 113.688 (The 38.2% FIB Retracement of the Rally from June 22 Lows), $ 111.965.
Ether: Eyes $ 3,400Ether’s Breakout from the Expanding Trilele Consolidation and the 61.8% Fibonacci Retracement of the December-April Sell-Off Has Likely Set The Stage for $ 3,400, A Leveel Favorde. The 14-Day Rsi Has Surpassed The 70 Mark, Indicating Strong Upside Momentum Alongside Upward-Sloping 50- and 100-Day Simple Moving Aves (SMA). The Ether-Bitcoin Ratio has also Broken Out of a prolonged Consolidation, Suggesting Ether Outperformance Ahead. On the Downside, Tuesday’s Low of $ 2.933 is the Level to Beat for Bears.
- AI’s Take: Ether is Looking Incredibly Strong for a Move to $ 3,400, Fueled by Multiple Technical Breakouts and Its Clear OutperForgance Against Bitcoin. KEEP A Sharp Eye On $ 2,933.
- Resistance: $ 3.400, $ 3.570, $ 4,000.
- Support: $ 2.933, $ 2.739, $ 2,600.
Solana: Stability Near The 200-Day SMA is Encouroging for BullsSolana’s Sol Token Continues to Trade Back and Forte Near The 200-Day Simple Moving AVERAGE. The Stability Contrasts with Swift Bearish Reversals from the Key Awarage Observed in May and Is A Positive Sign for the Bulls. This, Coupled with The Move Above the Ichimoku Cloud and the Rsi Above 50, Suggests That Recent Newfound Resistance at $ 168 Could Soon Be Flipped Into Support. The NEXT HURDLE IS SEEN AT $ 200. Tuesday’s Low of $ 157.13 is a Key Level of Support.
- AI’s Take: Solana is Looking Increatingly Bullish, Holding Key Support at Its 200-Day SMA, A Big Shift from Past Reversals.
- Resistance: $ 168, $ 187, $ 200.
- Support: $ 157, $ 145, $ 125.
XRP: Looks North After Tuesday’s ‘Hanging Man’ CandleXrp’s Hourly Chart Shows a Picture-perfect Transition from A PullBack to Renewed Upswing. Prices Exited the Downward Trender Channel on Tuesday and Have Since Crossed Bullishly Above the Ichimoku Cloud. The setup favors a re-test of the recent Highs Above $ 3.00. That said, Tuesday’s Hanging Man Candle, Characterized by Its Long Lower Wick and Small Red Body, Suggests Bears Are Looking To Reassert Themselves. Should Prices Lose Support at $ 2.80, It Could Prove Costly.
- AI’s Take: For Traders, The Daily Chart’s “Hanging Man” is the more significant Signal, as Longer Timeframs Generally Provide More Relable Reversal Patterns. While the Hourly Chart Shows a Bullish Bounnce, The Daily Hanging Man Acts As A Strong Cathontary Flag.
- Resistance: $ 3.00, $ 3.40.
- Support: $ 2.80, $ 2.6- $ 2.65, $ 2.38.
Disclaimer: Parts of this Article Were Generated with the Assistance from Ai Tools and Review by Our Editorial Team to Ensure Accucy and Adhesion to Our Standards. For more information, See Coindesk’s Full Ai Policy.