Overview
Chart #1 - Gala (GALAUSDT) Daily
Chart #2 - Curve DAO (CRVUSDT) Daily
Chart #3 - Bittensor (TAOUSDT) Daily
Chart #4 - Ethereum (ETHUSDT) Daily
Chart #5 - Fear and Greed Index
Chart #1 - Gala (GALAUSDT) Daily
Chartist: Sheldon
(For the chart screenshot, click here.)
Iβm watching GALA very closely; gaming could be the next narrative to make a move to the upside!
GALA is one of those coins that has not moved over the last few weeks like some of the other Layer 1 coins, but it is now getting very close to a breakout on the daily descending resistance line from May 2022.
There is massive resistance overhead. GALA needs to break through both the daily resistance line and get through the $0.026 - $0.028 resistance area. If it can break through that area, the next area of resistance is at $0.035 - $0.0375.
If the current level of support at $0.025 does not hold, the next one is at the bottom of the range at around $0.02.
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Chart #2 - Curve DAO (CRVUSDT) Daily
Chartist: Kyle
(For the chart screenshot, click here.)
CRV is still right in the zone, following a backtest into support after a break of the long-term downtrend.
This creates a buying opportunity!
Looking to long up to mid-range before taking profit.
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Chart #3 - Bittensor (TAOUSDT) Daily
Chartist: Kyle
(For the chart screenshot, click here.)
Presenting early signs similar to that of Kaspa and Injective in that itβs just a straight-up trend.Β
TAO needs to hold $224.51 to maintain this uptrend.
It also has similar tokenomics to BTC, with 21 million coins and is meant to be truly decentralized by AI. It could be an interesting narrative leading up to the Bitcoin ETF approval date.
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Chart #4 - Ethereum (ETHUSDT) Daily
Chartist: Sheldon
(For the chart screenshot, click here.)
ETH is trading at $2,077, and it looks like it is going up to test the $2,140 level of resistance.
If it can break through $2,140 - $2,200, it should head to $2,400 - $2,700, which is an area last tested in April 2022.
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Chart #5 - Fear and Greed Index
The Fear and Greed Index is sitting at 66 today, indicating Greed.
The highest the index has been over the past seven days is 71, and the lowest is 62.
Banterβs Take
ETH is setting up for a major breakout in the days or weeks to come, and this will likely send most altcoins rocketing to the upside. For now, we will continue to look for strong alts and back the strength.
Stay safe my friends!
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