Overview
Chart #1 - Avalanche (AVAXUSDT) 8-Hour
Chart #2 - Akash Network (AKTUSDT) Daily
Chart #3 - Oasis Network (ROSEUSDT) Weekly
Chart #4 - Bitcoin Dominance (BTC.D) Daily
Chart #5 - Fear and Greed Index
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Chart #1 - Avalanche (AVAXUSDT) 8-Hour
Chartist: Sheldon
(For the chart screenshot, click here.)
Over the weekend, AVAX tested the bottom of the range resistance level at around $38.50, which is now acting as support.
Should the price test this level again, I might enter a spot long trade, planning to take profit at the next resistance area between $50.00 and $52.50.
My stop-loss will be set just below the minor support level of $36.00.
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Chart #2 - Akash Network (AKTUSDT) Daily
Chartist: Kyle
(For the chart screenshot, click here.)
Returning to the AKT chart, we have cleared all levels.
The Stochastic RSI has shown an upward trend, and we aim for the resistance to turn into support at $3.70.
Use a shorter time-frame for a better entry when it starts respecting support.
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Chart #3 - Oasis Network (ROSEUSDT) Weekly
Chartist: Kyle
(For the chart screenshot, click here.)
On the weekly chart, ROSE just printed a crossover on the Stochastic RSI, clearing above $0.12.
This also confirms the reversal of the correction!
I expect stronger moves once it surpasses $0.15. The next major resistance, from there, I see at $0.285.
Great growth opportunity here!
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Chart #4 - Bitcoin Dominance (BTC.D) Daily
Chartist: Sheldon
(For the chart screenshot, click here.)
Bitcoin Dominance has been retracing over the last couple of days as liquidity flows into certain altcoins.
BTC.D dropped from around 54% a few days ago to its current level of 53.25%, nearing the next support level of 53%. If the 53% level fails to hold as support and BTC.D continues its downward trend, we could witness altcoin rally everyone has been anticipating!
It feels like itβs already beginning!
The next level of support below that is at 52%, with major support at 51%.
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Chart #5 - Fear and Greed Index
The Fear and Greed Index is sitting at 75 today, indicating Greed.
The highest the index has been over the past seven days is 79, and the lowest is 72.
Banterβs Take
Today, Bitcoin is approaching $52,500, and altcoins are pumping. A break of resistance, targeting $53,500, seems possible. The total market cap is steadily increasing, with no significant sell walls in the vicinity.
Stay safe my friends!!
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