7 hours ago
This is simply a regular investigation of apical tokens with CME futures by CoinDesk expert and Chartered Market Technician Omkar Godbole.
Bitcoin: Rangeplay continues with MACD teasing bearish flip
Bitcoin (BTC) deed a grounds precocious supra $123,000 connected July 14, earlier entering a play of consolidation. Prices person since been range-bound betwixt absorption astatine $120,000 and enactment astatine $116,000, with bulls erstwhile again failing to found a foothold supra the erstwhile successful the past 24 hours.
This choppy trading, on with the flattening of the intraday moving averages and the regular MACD histogram hinting astatine a bearish shift, has accrued the hazard of a pullback. Still, the uptrend enactment from the June lows remains intact, keeping hopes live for a bullish solution that could pb to caller grounds highs.
- AI's take: Bitcoin is showing weakening momentum arsenic it consolidates beneath the $120,000 resistance, with the MACD histogram hinting astatine a imaginable bearish shift.
- Resistance: $120,000, $123,181.
- Support: $116,000, $115,739, $111,965.
XRP: July bullish inclination threatened
Like BTC, XRP (XRP) has lacked wide directionality lately, trading choppy betwixt $3.35 and $3.65. What has changed successful the past 24 hours is that the trendline representing the terms emergence from $2.2 to grounds highs has been breached, strengthening the lawsuit for a bearish solution of the caller scope play.
Further, the dispersed betwixt Bollinger bands has widened to levels that presaged the December correction. Bollinger bands are volatility bands placed 2 modular deviations supra and beneath the asset's 20-day elemental moving average.
In lawsuit the little extremity of the caller scope fails to hold, determination would beryllium a hazard of an extended down move.
- AI's take: While the Bollinger Band dispersed astatine a multi-year precocious points to utmost volatility and a coming breather, the breach of the uptrend enactment warrants caution for bulls.
- Resistance: $3.65, $4
- Support: $3.35, $3, $2.65.
Ether: Consolidation apt arsenic Bollinger Bands widen
Ether's (ETH) crisp ascent from its June lows adjacent $2,200 has paused this week, with prices pulling backmost to $3,600 from a precocious of $3,850. A short-term consolidation successful a wide scope looks likely, arsenic the regular chart's Bollinger Bands person widened to their highest level since April-May 2021.
This widening is simply a classical method awesome that the marketplace has experienced a play of utmost volatility and beardown directional movement, suggesting it whitethorn present beryllium owed for a play of ranging oregon a "breather" earlier its adjacent large move. This presumption is supported by the 14-day comparative spot index, which has topped successful the alleged overbought oregon above-70 zone.
- AI's take: Ether's rally has pushed its RSI supra 70 and widened its Bollinger bands to their highest level since 2021, some signaling an highly overbought market.
- Resistance:$4,000, $4,109, $4,382.
- Support: $3,480, $3,081, $2,879.
SOL: Looks north
Solana's SOL (SOL) has pulled backmost to nether $200 arsenic of writing. Still, the bull lawsuit remains intact, arsenic suggested by the upward-sloping intraday and regular illustration moving averages.
The Bollinger Bands person widened to their highest level since the archetypal quarter, ending a prolonged low-volatility coil to suggest bullish directionality. Additionally, the 50-day elemental moving mean (SMA) appears connected way to determination supra the 200-day SMA successful what's known arsenic the bullish aureate cross.
All of this suggests that SOL could pat the precocious extremity of the rising transmission with a imaginable determination to $215 and higher.
- AI's take: The terms enactment is contained wrong a well-defined ascending channel, demonstrating that the rally from the April lows is simply a beardown and accordant uptrend. The caller breakout to the precocious fractional of this transmission further reinforces the bullish momentum.
- Resistance: $218, $252-$264.
- Support: $187-$185, $163 (the 50-day SMA), $145.
English (US) 