Overview
Chart #1 - Solana (SOLUSDT) 3-Day
Chart #2 - Bitcoin (BTCUSD) Hourly
Chart #3 - Solana (SOLUSDT) Daily
Chart #4 - S&P 500 (SPX) Daily
Chart #5 - Fear and Greed Index
Chart #1 - Solana (SOLUSDT) 3-Day
Chartist: Sheldon
(For the chart screenshot, click here.)
SOL made a massive move in October, so there is a possibility of a retrace now.
If this area of support doesn’t hold, the next one is at $30.00 - $32.50.
That being said, if crypto continues its momentum to the upside over the next couple of weeks, I expect SOL to continue its bullish momentum to the upside and test $48.00 - $51.00.
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Chart #2 - Bitcoin (BTCUSD) Hourly
Chartist: Kyle
(For the chart screenshot, click here.)
Bitcoin is losing a key level: the point of control at $34,447.
There is a good chance that it will sweep the low at $32,525.
If the price reclaims the point of control, then it could be a bear trap with a false breakdown. Either way, Bitcoin is still in a larger bull flag, so the range should continue to hold.
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Chart #3 - Solana (SOLUSDT) Daily
Chartist: Kyle
(For the chart screenshot, click here.)
SOL could be putting in a major top, especially coming into the end of the Solana Breakpoint conference in Amsterdam.
Watch for a bounce into the mid-range at $42.50, and then losing the $38 level will confirm that the breakdown is happening.
If that happens, then the price will likely head down to $26; that would be a good opportunity to catch a bounce.
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Chart #4 - S&P 500 (SPX) Daily
Chartist: Sheldon
(For the chart screenshot, click here.)
The SPX has now reached the 4,300 - 4,325 area of resistance.
Meanwhile, the US 10 Year Yield and the DXY have started to retrace, so I think the SPX has upside potential, where it could test 4,430 - 4,450.
But, if it does, I believe it will once again find it very difficult to break through.
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Chart #5 - Fear and Greed Index
The Fear and Greed Index is sitting at 65 today, indicating Greed.
The highest the index has been over the past seven days is 72, and the lowest is 65.
Banter’s Take
The pullback continues, but there is strong support below. If the market is truly bullish, then all pullbacks should be eaten up quickly.
Stay safe my friends!
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