ππ This token could take a -40% hit soon! LDO looking bullish!
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Chart #1 - S&P 500 (SPX) 1-Day Chart
Chartist: Sheldon
(For the chart screenshot, click here.)
Over the last five weeks, the SPX has rallied from 3,800, up to where it is now, at 4,100 - 4,200 (resistance).Β
Two weeks ago, the SPX broke its weekly descending resistance line at 4,000. This line will now act as support if or when the SPX retraces back down to that level.Β
If the SPX gets rejected from where it currently sits, the next level of support is around 4,000, whereas a move higher from here would possibly take the SPX to the next level of resistance at 4,300.
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Chart #2 - Gains Network (GNSUSDT) 4-Hour Chart
Chartist: Kyle
(For the chart screenshot, click here.)
GNS needs to reclaim the trend line marked in the chart urgently!Β
Failure to do so in the next roughly 12 hours will more than likely confirm a bearish structure and lead to a major dump back down to $4.20. That is a massive -40% from the current level GNS finds itself at.
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Chart #3 - Lido DAO (LDOUSDT) 1-Day Chart
Chartist: Kyle
(For the chart screenshot, click here.)
Things are seemingly looking bright for LDO.
If the price can close a few more daily candles at the current level or higher, LDO will likely enter into price discovery mode.Β
GMX and OP are two other tokens that recently experienced price discovery.
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Chart #4 - Bitcoin (BTCUSDT) 1-Day Chart
Chartist: Sheldon
(For the chart screenshot, click here.)
Yesterday Bitcoin dropped from around $23,000 and retested the $22,400 area of support before slightly recovering back up to $22,675 this morning.Β
For three weeks, bitcoin has been trading between $22,400 and $23,500, leaving us to wonder whether it is consolidating in that range and getting ready to move higher or whether the whales are actually selling off.
If BTC breaks below $22,400, the next areas of support are at $21,300 - $21,800, and below that at $20,000 - $19,700 (200MA support on the daily). A rise from here would likely take the price to the next resistance between $24,450 - $25,000.
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Chart #5 - Bitcoin Fear and Greed Index
The Bitcoin Fear and Greed Index is sitting at 55 today, indicating Greed.
The highest the index has been over the past seven days is 60, and the lowest is 54.
Overall Market Sentiment (Banterβs Take)
As long as bitcoin can hold above $21,500, the pullback is likely still a buying opportunity. Essentially, if the price can hold here and just move sideways, it will be bullish and mean another attempt at the highs should take place.
Stay safe my friends!
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