Overview
Chart #1 - Crypto Total Market Cap (TOTAL) Daily
Chart #2 - Celestia (TIAUSD) Daily
Chart #3 - Pyth Network (PYTHUSD) 4-Hour
Chart #4 - Solana (SOLUSDT) Daily
Chart #5 - Fear and Greed Index
Chart #1 - Crypto Total Market Cap (TOTAL) Daily
Chartist: Sheldon
(For the chart screenshot, click here.)
The TOTAL is once again trading at resistance, and is also retesting the previous support line at $1.6T.
If the TOTAL gets rejected here, I expect to see $1.52T, maybe even $1.4T - $1.45T.
If it breaks through $1.6T, the next area of resistance is at $1.8T - $1.9T, which was tested earlier in the month.
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Chart #2 - Celestia (TIAUSD) Daily
Chartist: Kyle
(For the chart screenshot, click here.)
While the majority of the market is in a clear downtrend and retracing, TIA is on its own course, continuously printing higher lows and higher highs with the latest support at $14.
The next resistance, marked as a weak high, is at $20.30.
There is a small local resistance at $18 that may force the price close to support, presenting a new opportunity for a long entry.
Otherwise, weโll wait for the new support after breaking resistance.
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Chart #3 - Pyth Network (PYTHUSD) 4-Hour
Chartist: Kyle
(For the chart screenshot, click here.)
PYTH is another example of a strong coin (price action-wise).
It's at support right now, offering an opportunity for a long entry with a Risk-Reward Ratio (RRR) of 1:5:
Entry at $0.38.
My target is $0.42.
And my stop loss is approximately 2.5%, so leverage is minimal (depending on your risk management protocol). Iโll enter in portions to minimize risk.
The final target is almost 13%.
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Chart #4 - Solana (SOLUSDT) Daily
Chartist: Sheldon
(For the chart screenshot, click here.)
Solana news has been bullish this weekโฆ
But looking at the chart, it currently does not look too bullish!
After finding support last week, at around $80.00, it moved up to the next area of resistance at $97.00 - $105.00. If it gets rejected here, there is a possibility of further downside, with the next area of support being at $76.00 - $80.00.
If it breaks through $105.00, it could reach $140.00 - $150.00.
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Chart #5 - Fear and Greed Index
The Fear and Greed Index is sitting at 55 today, indicating Greed.
The highest the index has been over the past seven days is 55, and the lowest is 48.
Banterโs Take
After the weekend rally from $40,000 to $42,000, Bitcoin is currently back inside the old range of $40,200 - $44,400.
Today, there is no significant volatility in the market, so while Bitcoin consolidates, it provides an opportunity for altcoins to move. It's important to note that, technically, Bitcoin is in a downtrend with nearly equal highs.
Stay safe my friends!
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