We closed the weekly candle above the key support at 86,807, which means that making a new low inside this month is unlikely. For now, price is likely to remain range bound for a bit longer.
If you recall the last update, we discussed the imbalance at the 96k-98k region, created after the weekly structure shift. This zone remains the primary target for a bearish pullback, and price will likely push toward it over the coming weeks.
The key level to watch this week is 90,320, which marks the top of the compressed weekly range. If this level is reclaimed on the LTF, the 94k-96k highs become the next target.
A push into the yearly close looks quite likely, given the amount of upside imbalance. I’m expecting a short-term recovery this week if we continue to build support inside the 88.1k-86.8k region {spot}(undefinedUSDT)
$XRP is trading at a key support after a prolonged downtrend and weak consolidation.
$XRP Price is showing early signs of a base forming, and a bounce is possible if this level holds. A clean reclaim of nearby resistance would signal the start of a short-term recovery.
💥 Price action: BCHUSDT just rejected hard from the $630 zone and is now consolidating around $587. Recent bounce from $520 was strong, but momentum is fading on lower timeframes. No clear bullish or bearish divergence, but MACD and RSI are cooling off.
📊 Support resistance: Major support: $575, $560, $520 Major resistance: $600, $630
#Price is in a downward channel, and there is no sign of strength yet. Let's see how the #market reacts in the coming days. The immediate #resistance is around the $5 area, and a break above this will indicate some strength in the market.
There is liquidity building in both directions on LTF. Once price taps either side, Observe the reaction and look for scalp toward the opposing liquidity.
📈 Price Action: $UNI broke out strongly above prior resistance, surging on high volume across all timeframes. Lower-timeframe EMAs have flipped bullish, confirming momentum strength, but price is now extended from the 200 EMA.
Bitcoin dominance on the weekly timeframe is still holding the demand zone of 57.7-58.5%. If the momentum continues, then we may see it at the 62% area. This bias is valid until the demand zone sustains. We may only see BTC.D moving towards 54% or below once it closes below the demand zone.
It seems BTC has been stuck in the range of 85k-94k for weeks now. It's currently at the lower end of that range and trying to bounce back. If this momentum continues, we may see it reach the range high of 94k again. This bias is valid as long as the 83k-85k range low zone holds.