$VELVET We need to skim the cream while trading tea!
A real bull rally. The price has consistently confirmed break(s) of structure upwards (BoS). The most recent strong bullish BoS occurred at the level of $0.6000, after which the coin rocketed into space, completely squeezing the shorts. Right now, the price is approaching the psychological resistance level marked with the blue cross—the last stronghold of shorts. How many stops are sitting behind $2??
The coin has delivered a colossal vertical pump 👇 The strongest bullish breakout. With a single impulse, the price broke through previous local levels, formed a strong bullish structure break (CHoCH at the $0.01200 level), and moved right up to the lower boundary of a strong short order block.
EMA 50 (red line) is at $0.01092. The current impulse has fully broken through it from below and the moving average is now acting as strong support. Local bullish order block (from where this pump started this morning): range $0.0072 - $0.0087.
Resistance zones: Nearest bearish order block: range $0.0126 – $0.0136 was broken, but as you can see, the price is trading inside its level again. Main seller block: the wide red range $0.0158 – $0.017 from which the rally was absorbed. Final target: the high from April 16 at $0.01815 if the price manages to break the lower zones
On the chart, a very interesting battle is visible. After a cascading drop and a break of structure downward (BoS at the $185.00 level on June 24), buyers managed to execute a strong bounce, completing a local bullish break of structure (CHoCH at the $195.00 level). Right now, the price is testing the moving average, trying to hold its positions.
Moving averages: EMA 50 (red line) runs right along the current price at the $194.86 mark; the price is trading very close to it. EMA 200 (blue line) is far above and acts as a heavy ceiling at the $206.19 level.
Support zone: The nearest bullish order block (from where buyers delivered the last strong reversal impulse): $182.00 – $186.50 (green zone at the bottom).
Resistance zones: The nearest local bearish order block: $197.00 – $200.00. The mid strong block (the zone of the previous price dump): $202.00 – $205.00. The topmost bearish order block: a wide red range of $213.00 – $217.50 (above the EMA 200).
The price is moving within a prolonged downtrend. Trend structure: Bearish dominance—on the chart, there is a series of consecutive breaks of structure to the downside, i.e., BoS (the last BoS occurred right during the current selloff).
EMA 50 (red line) acts as a ceiling and is at $420.73. EMA 200 (blue line) is higher—at $458.35.
Support zone (Green block): Price has reached a test of a strong global bullish order block (the wide green zone at the bottom) in the $335.00 – $380.00 range.
Resistance zones (Red blocks): The nearest bearish order block (from where the last drop started): $415.00 – $429.00 (right around EMA 50). A strong seller block above: $450.00 – $488.00 (the area around EMA 200).
A local bullish structure break (CHoCH) is confirmed. Price delivered a strong upward impulse, but right now a pullback is underway.
Nearest moving averages (Support): EMA 50 (red line) is below—at $0.29088. EMA 200 (blue line) is even lower—at $0.15038.
Support zones (green blocks): Local bullish order block (the shelf from where the last impulse started): range $0.26 – $0.315 (nicely aligned with EMA 50).
Above, there is only a massive short wick up to $0.6500, which now acts as the main magnet for buyers or a good short entry point
$SOL at a crossroads: Where will the trend go? As can be seen on the hourly chart #sol during the weekend, price is consolidating; low trading volumes and low volatility keep it within a narrow range, but what’s next? Buyers were able to form a local support zone at the level of the passing EMA50 (~$70.99) and EMA200 (~$70.49), which keep the price from further correction. For the bulls, it is important to prevent a break below the moving averages in order to continue the uptrend.
Buyers have managed to break the structure higher on a local basis, but the local resistance around the short-term trendline and the EMA50 for the third day in a row shows just how weak the bulls look right now.
The price impulsively reached the EMA 50 level (~$60,622), but the bulls couldn’t hold above it— the current hourly candle is closing with a bearish engulfing, turning the entire rebound into another round of shaving long positions.
Local support zone: The lower green order block in the range of $58,250 – $59,000 is holding the price back from going to new lows.
For any real growth, it’s crucial for the bulls to break the trendline and establish a hold above the EMA50, while the price remains below it and the trend is still bearish. If the break holds successfully, the next target is the higher bearish order block: the consolidation zone in the range of $61,250 – $61,950.
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$ETH Update: Buyers are stuck in the trend. Will there be another dump?
On the 1H chart TF, after the bounce, buyers again received a pullback from the bearish trend line—this is also where the previous price dump began.
As long as the established local support holds, the breakout could send the price to test the order block where yesterday’s price was able to reverse from.
Let’s review the key levels:
Local support zone: The green order block in the range of $1612 – $1631, where the price is consolidating right now.
If the current support doesn’t hold, the price will move to test the strong bullish order block near yesterday’s reversal low — $1549 – $1570 (the lower green zone).
Nearest resistance for bulls: The 50 EMA (~ $1649.78), which is currently tightly compressed against the aforementioned bearish trend line.
Strong resistance level above: The 200 EMA zone (~ $1693.52) and the bearish order block around $1679 – $1693 (red zone, from where the drop started).
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After yesterday's bloody bath, buyers managed to execute a technical bounce and form local support. As seen on the hourly candlestick chart, the price has come to test the ema50 and almost reached the short trend line. If buyers can break through this zone, it opens the path for testing local resistance where ema200 is located.
What are the key levels?
Local support zone: The formed green order block below in the range of $60,600 – $61,100. If support doesn't hold, the price may go for liquidity below yesterday's low.
Nearest resistance for the bulls: The EMA 50 (~ $61,884) and the short trend line (red line) just above it. The bearish order block and EMA 200 (~ $63,201), which lies right inside the bearish order block (red resistance zone around $62,800 – $63,250).
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$SOL Now let's see if they're gonna take out the lows or if we'll get a solid bounce?
DedMaksym
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$SOL Update: New breakout or expected pullback?
On the hourly candlestick chart, buyers have been chopping through the bearish order block since yesterday, acting as resistance. While the trend remains bullish, a full test and breakout above $75.50 – $76.50 (marked with a check) could very well happen.
But what's next? Keep in mind that there are large liquidity pools below that the market makers will likely want to snag, so it's crucial to watch the targets around $67 closely. Any correction that begins could be the perfect opportunity for a long squeeze.
Nearest support: The area around the blue EMA 200 line (~ $71.50, marked with a blue cross). A strong bullish order block (lower green zone) around $67.00 should be monitored closely (marked with a lower cross).
$BEL Don't short, guys, you still need to be there for your moms!
But seriously, looking at the daily candlestick chart, the price hasn't even reached the first order block yet (level $0.265 - $0.305). I think trying to short too early could just fuel the upward movement.
In any case, for anyone who decides to short this, the levels are visible in the screenshot below 👇
If you check the hourly chart, you'll see that after a long period of sideways movement, there was a sharp liquidity grab by the bulls.
Where can we fall to? As shown in the screenshot, the price is testing the bullish order block (green support zone around $165.00 – $170.00). If this support doesn't hold, we will test the bearish trendline (red line around $160.00). Breaking through that will give the bears a clear path to liquidate positions at the low from June 12.