Ethereum Price Analysis!
Welcome back to the another article my name is Alisha… and right now chain link is still exploding to the upside towards this massive bullish price Target while Ethereum is still pulling out this bearish Divergence in the short term while the price of XRP is now attempting a breakout from this short-term pattern while Salana is still trending in the bearish direction in the short term so I’ll be talking about all of that and so much more later in the article so definitely read to the end. First of all taking a look at the weekly Ethereum chart and right now the price of eth is still in a bull market so getting straight into the 3-day time frame and right now we’re still running into this major point of resistance which if we’re taking a look at the daily time frame is an area of resistance sitting in between around 3.9k to 4.1k so as I’ve been saying over and over again here on the channel expect the price to struggle in that price range right there because that is currently and previously has been acting as major resistance and now if we end up seeing another decent sized rejection from this resistance in that case we have significant support in this price range sitting in between around 3430 to 3560 currently acting as major support which was previous resistance and we could also find some short-term support at close to 3.8k approximately and so essentially right now the price of e is essentially in a sideways price range chopping around between this support and resistance at least in the shorter term but once again when we’re zooming out looking at the bigger picture we’re current Cur within a much larger bullish market and once we can finally break out Beyond this area of resistance so ideally seeing a weekly candle close above around 4.1k then in that case the next major price Target is basically the all-time high at around 4.7k to 4.9k because that is where we’ll likely find a lot of resistance so basically just underneath $5,000 but once again we cannot ignore the fact that between the current price and that all time high level there’s still this resistance to pay attention to going up towards around 4.1k and on top of that if we’re taking a look at this daily Ethereum chart right now technically speaking this bearish Divergence is still currently active with higher highs still confirmed in the price and lower highs still confirmed in the daily Ethereum RSI and so this basically just tells us that we’re slowing down a little bit in the short term losing some bullish momentum during the larger bull market and so often times a bearish Divergence plays out in the form of either a short-term pullback or simply just some choppy sideways price action especially if we have a major area of support like this one right here usually we Bounce from support as we have done recently causing some choppy sideways price action basically as sideways consolidation and so that is the current situation in the shorter term and the longer term so not a lot has changed for Ethereum over the last one day
Chain link Price Analysis!
If we’re taking a look at chain link on the weekly time frame right now chain link is just about running into this Fibonacci level of resistance which is sitting at approximately $31 to $32 and we also should expect some resistance based on these previous highs back here sitting at close to $34 so really in between around $3 to $34 we do have a major area of resistance right there on the price chart but once we can see a confirmed breakout ideally with a weekly candle close above $34 then in that case the next major price Target is basically the all-time high at around $53 and we would also likely find some resistance at around $50 due to that being a major psychological level and so the points to possibly add to some sort of long position let’s just say if you’re wanting to long this move to the upside the points to potentially add to a long position not Financial advice would be either once we confirm a breakout Above This resistance we could potentially long this move right here from let’s just say $34 to around $50 or for example if we do not succeed on the breakout on the first attempt and instead we see a rejection on the first attempt come back down and then let’s just say bounce somewhere near the golden pocket and then break out on the second attempt obviously some sort of retest like this would be an entry point for a potential long position and so essentially right now where the price is currently sitting at just underneath a major point of resistance I not necessarily enter into a new long position right now and instead of course my training strategy which I have been sharing here on the website is to trade this bullish move to the upside in a much larger swing trade so essentially a long position that I’d hold over weeks if not months and obviously I’ve been sharing this trading opportunity for the price of chain link since before we saw this breakout right here since much lower prices I’ve been sharing this massive bullish pattern preparing you for a major bullish breakout which is already now starting to play out and in case you’re new to the channel the bullish price target for this pattern right here this massive cup and handle pattern on the weekly chain link chart the bullish price Target is sitting at approximately $90 per chain link and so obviously even from where we are sitting right now that is still a major opportunity ahead of us but once again even though we have a price Target at around $90 based on this pattern we cannot ignore resistance so like I said earlier I not necessarily enter into a massive new trade right here massive new long position due to the fact that we’re running into this point of resistance so if you missed this breakout right here to enter the trade I’d not necessarily enter into it right now I’d first wait to see what happens at this resistance either we confirm the breakout or see some sort of rejection and then after we see that confirmation then I’ll potentially use that as an entry point because just for example let’s just say if you were to enter a massive long position a high leverage long position right now at the current chain link price of course there is a somewhat decent chance that we could see a rejection from this resistance in which case obviously that would be bad news for a high leverage long position and so ultimately you ideally want to either wait until we first see that rejection and then enter at a lower price for example at a major point of support like let’s just say 21 to $23 and of course I’m not saying that’s definitely going to happen I’m just saying that is a short-term risk if we do not break out on the first attempt but of course if we do end up breaking out on the first attempt here and we simply just confirm a breakout above around $34 then we can simply just go ahead and potentially add to a long position or enter into a long position here to trade that move from let’s just say $34 to $35 up towards around $50 as the next major price Target and personally when it comes to my chain link trade right here my trading strategy around certain points of resistance along the way up I do like to take some profits out of a long position then obviously if we see better entry prices like for example a rejection from this resistance I’d potentially add to a long position and with this being a swing trade like I said earlier I’d potentially look to trade this move over weeks if not months and then as the trade moves further into profits I’ll just slowly move my stop loss further and further into profits to essentially secure profits even in the worst scenario and in case you’re wondering I’m taking that chain link trade right there over on my B2 next account so I’ll make sure to leave a link to B below this article in the description and in the pinned comment and if you use that link below this article it’ll take you to this page right here which is an exclusive deposit bonus which you can only claim on BONX if you use the link below this article to make your BONX account and so if you simply just make your BONX account using that link below this article you can deposit $100 worth of crypto and get a $20 bonus once he’s start trading or if you do the same bit with a $500 deposit you get $100 in bonus or just 1,000 USDT deposit and then start trading and you get a $200 bonus on your account but once again this is only available if you actually use the link below this article to make your BONX account and by the way BONX is a no KYC exchange which means you can access it from basically any country in the world without needing any KYC but for whatever reason if you don’t want BONX there is also built which is another crypto Exchange I also trade on so I’ll make sure to leave a link to BYBIT below this article in the description and in the Pin comment and if you use that link you can get a 500 USDT position airdrop so basically a free $500 trade as your first trade over on bit but that is only available if you use the link below this article to make your account and deposit on that account but with that being said zooming into the short term for chain link and right now the price of chain link is just about to possibly invalidate this short-term bearish Divergence but at least as of right now now at the time of writing this article this short-term bearish Divergence is still currently active because for now once again as of recording this Article we’ve not yet seen a breakout in the price Above This previous high and we’ve not yet seen a breakout in the RSI above these previous highs and so ultimately that is what we’ll need to see in order to invalidate this bearish Divergence so for now once again it’s technically still active and even if we do make a slight little higher high in the price while the RSI is still sitting in lower highs we could potentially just reconfirm a new bearish Divergence in that situation so ideally in order to flip much more bullish again in the short term here we need to basically see a breakout in the RSI above these previous Highs at the same time as breaking out above these major points of resistance and so that’s what I was talking about just earlier there’s a little bit of short-term risk we have to be aware of when it comes to chain link once again the longer term is still looking very very bullish here on the larger time frames but right now we are running into some significant resistance at close to $30 give or take and of course seeing a short-term bearish Divergence basically telling us that we’re losing some bullish momentum here.
XRP Price Analysis!
In the short term and with that being said if we’re taking a look at the price of XRP on the weekly time frame and right now XRP is still technically within a larger bull market if we’re looking at this larger price structure for now we’ve not confirmed any lower highs or lower lows on these larger time frames so ultimately things are still looking bullish but of course we still have major resistance at very close to $3 so essentially around $2.90 to $3 that’s the major area of resistance to pay attention to and as for support we have previous significant resistance now acting as new support at approximately $2 and just underneath $2 so right around $2 once again major support and right around $3 major resistance and if we zooming into the shorter term looking at the 4-Hour time frame obviously over the last couple of weeks or so one to two weeks here we’ve been on a short-term pullback a short-term bearish Trend during the larger bull market and of course if you’ve been reading my article for the last month or so you’ll know that I longed this massive bullish move in the price of XRP right here and then I closed out of those long positions right here I literally shared that on this channel when the price was back here but right now I’ll be watching XRP very closely for possibly a new long position but I want to make it clear right now as I’ve recording this Article I am personally not entering into a long position just right now but I will keep a close eye on XRP because I might do that very soon because obviously as we can see right here on the 4-Hour time frame we’re attempting a little breakout here and technically speaking this has been confirmed with a couple of candle closes on the 4our time frame but as of right now it’s not really a lot of confirmation because for now we don’t really have a lot of follow-through there’s not really a lot of momentum in the short term and also we haven’t really broken out above any of these previous major points of resistance at least in the short term and so as I said a couple of days ago when I shared this pattern right here which is a possible bull flag pattern bullish flag pattern as I shared a couple of days ago ideally we need to not only see a breakout above this line of resistance which is sitting at around $240 give or take but ideally we also need to see a breakout Above This high right here which is also acting as resistance sitting at around $262 approximately and then of course we still have strong resistance at around $290 to $3 and so in order for me to start entering into a new long position right here first of all I’d want to see a bounce very soon from this previous line of resistance to flip it into new support which is once again sitting at approximately $240 give or take if we can now hold that as support that would be the first good signal to watch out for and then if we can break out above around 262 and ideally flip that into support once we start seeing price structure like that starting to form then in that case I’d potentially look at a long position look at opening a new long position for XRP but right now all XRP needs to do to actually invalidate this breakout is simply just confirm a candle close back below this line right here once again at around $240 so if we break back below that line and especially if we break below these lows right here at around $229 then in that case that would be another short-term bearish signal likely pointing towards a drop down towards this level of support at around $1.90 but once again we have a lot of support at close to $2 as well and so just to sum it up in the shorter term here on the smaller time frames we have a possible sign of a reversal here in the short term but not a lot of confirmation not a lot of confidence in this bullish breakout right here until we start seeing some of those other confirmation signals and now if this ends up playing out like a successful bullish flag pattern with an actual bullish price target for this pattern if we’re measuring out that price Target properly which last time I actually overestimated this price Target but if we’re measuring out this price target for this bull flag pattern it’s sitting at around $384 approximately so from where we are right now to $384 that’s around a 58% move nearly a 60% move towards the upside and so once again for as long as we can Bounce from this level right here and hold Above This level at around $240 and ideally break out above some of these previous highs right here then in that case next I’ll be targeting that major price Target right there once again but of course we cannot ignore other point of resistance that’s between the current price and that price Target but with that being said.
Solana Price Analysis!
If we’re taking a look at SALANA on the 3-day time frame right now the price of SALANA is still in that short-term pullback during a larger bullish Trend technically speaking we’re still seeing higher lows and higher highs on the price chart which is bullish price structure on the larger time frames but of course in the short term we’re looking more bearish as I’ll talk about in just a moment but we could start flipping more bearish on these slightly larger time frames here if we break below this level on the price chart sitting at approximately 210 but we really have an area of support in between 200 to 210 so if we break below basically $200 that would be bad news in the short to midterm talking about potentially weeks maybe even one or two months because in that situation we’ll be breaking back into this range on the price chart obviously over the last month or so we broke out of that massive range right here into new price structure on the price chart a new area on the price chart and so if we now lose that level right here break back below 200 that would be bad news once again that would show a bearish price structure coming back into a previous range on the chart and so in that situation the next immediate support to the downside below 200 200 would be sitting at around 180 to 185 and as of right now the next major price Target in this larger bull market right here is still sitting at around $313 but of course between now and then we have a lot of short-term resistance so first of all we have strong resistance at 260 we also have strong resistance at 246 approximately and we also have short-term resistance right here at around $232 it as for short-term support as a writing this article we’re running into this level which could act as a bit of support right here sitting at around 221 to 222 but if we break back below around 221 once again then in that case the next short-term support is at around $25 so basically that area that I just mentioned earlier in between 200 to 210 and if we’re looking at the short term again on this 8 hour time frame technically speaking SALANA is in a short-term bearish Trend forming lower highs and lower lows on the slightly smaller time frames here and so only even start to think about flipping bullish again on SALANA in the short term once we first at least see a breakout above this line on the price chart which is currently sitting at around $231 but ideally if we can break out back above around 246 that will be the point where I’d flip much more bullish again on SALANA here in the short term but until then once again the short term is simply bearish in terms of the trend and momentum during a longer term bullish Trend which could possibly flip a little bit more bear if we lose that $200 level if you want to claim those extra bonuses and if you want to actually know how to trade crypto no matter if the price is bullish bearish or chopping around sideways then make sure to read these articles popping up right here but anyway that is everything that I have to say for today I really hope you enjoyed and I’ll see you all in the next article.
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