Overview
Chart #1 - Ethereum (ETHUSDT) Daily
Chart #2 - Energy Web (EWTUSDT) Daily
Chart #3 - Bitcoin (BTCUSD) Daily
Chart #4 - Theta Network (THETAUSDT) Daily
Chart #5 - Fear and Greed Index
Chart #1 - Ethereum (ETHUSDT) Daily
Chartist: Sheldon
(For the chart screenshot, click here.)
Over the last week, ETH has rallied by over 18%, with the price trading around $1,560 a week ago, compared to its current trading price of $1,850.
It is also attempting to break through the $1,850 level of resistance. If it succeeds, the next resistance is in the range high area between $1,960 - $2,040. This resistance area has been tested multiple times since mid-April.
If it rejects at this level, it could test $1,750.
Both the BTC/ETH and ETH Dominance charts are at major support areas, so there might be significant upside for ETH in the near future.
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Chart #2 - Energy Web (EWTUSDT) Daily
Chartist: Kyle
(For the chart screenshot, click here.)
I found the best place to buy it is on Kucoin. This is highly illiquid and a longer-term play. We should be prepared to lose what we invest, as these lower liquidity coins are not guaranteed.Β
Nevertheless, it's in a beautiful PO3 and worth a punt. It looks just like Chainlink!
Remember, PO3 is a long-term accumulation phase, followed by manipulation below the range low (forcing long-term hodlers to capitulate), then it reclaims the range low and starts to expand. Phase 3 of PO3 is the expansion phase, which could signify a 400% move on something like this if the final target is achieved.Β
Think of it from an R:R perspective. In this case, we're looking at an impressive 14.48:1 trade. That translates to turning $1,000 into $14,480.
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Chart #3 - Bitcoin (BTCUSD) Daily
Chartist: Kyle
(For the chart screenshot, click here.)
Bitcoin remains poised above the daily pivot level.
If bulls manage to stabilize the price here, a significant bull flag might take shape, potentially paving the way for a substantial breakout.Β
On the other hand, a descent back into the range would be seen as a deviation.
Above $32,000 is favorable, below is not. It's as simple as that.
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Chart #4 - Theta Network (THETAUSDT) Daily
Chartist: Sheldon
(For the chart screenshot, click here.)
Yesterday, the price of THETA broke out of the descending resistance line that originated at the end of April, around $0.65.
That level is now acting as support, and THETA seems ready to rise and test the next resistance zone between $0.70 - $0.75. The $0.70 level has acted as resistance for the past two months, so it will be intriguing to see if the price can surpass it upon retesting.
Following that, the subsequent resistance zone lies between $0.825 - $0.86, a region last tested in July.
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Chart #5 - Fear and Greed Index
The Fear and Greed Index is sitting at 71 today, indicating Greed.
The highest the index has been over the past seven days is 72, and the lowest is 53.
Banterβs Take
As Bitcoin stabilizes, risk is shifting back to the altcoins market, with altcoins showing strong momentum. The TOTAL3 is nearing a breakout as it steadily approaches resistance.
Stay safe my friends!
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