Friday, March 29

TradingView: Cryptocurrencies Are Pressured by Global Sell-Off


Amid concerns about US inflation and rising government bonds, this Tuesday we had a drone attack near refineries in the United Arab Emirates, causing fire and disrupting the circulation of oil trucks and local prospecting activity.

The soaring price of oil sent markets plummeting, along with cryptocurrencies.

Wendel Suzano

We recently saw the cripto ADAUSDT rising approximately 30% in the last few days, forming the double bottom pattern on its daily chart. But will this asset really go up even though most cryptos are going through a moment of realization due to the fall in the Bitcoin have we had recently?

The real thing is that it is not possible to know, but analyzing through the data, we have some very positive points to That currency when we think of a possible rise. I have separated here some technical points to explain how I base myself to reach this conclusion.

1 – Increase in volatility: We can see an increase in volatility on our daily chart, indicated by the bands of bollinger , when the price broke the upper band.
2 – IFR Buyer: The relative strength index can tell us the momentum, trend and its direction. We also have a breakout of an LTB in the indicator itself, which indicates that it is very likely that it will break That LTB on the daily chart as the IFR helps us anticipate some moves.
3 – Upward short-term average.
4 – Volume above average when prices rise.
5 – Important support on 1.16.

Although we have these very positive points, the cryptocurrency scenario is not easy for those who are long, so be careful when taking these positions. (See more ideas about cardano).

Lucas Bento

Cardano is a proof-of-stake blockchain platform that claims to aim to enable “change agents, innovators and visionaries” to bring about positive global change.

Cardano is used by agricultural companies to track fresh produce from field to table, while other products built on the platform allow records to be stored in a tamper-proof manner for retailers to crack down on counterfeit products.

I will analyze the possible price movement scenarios from a technical analysis point of view for ADA Cardano (ADAUSD), considering the current market context and, mainly, using the daily charts.

Amid news of improved scalability, the ADA Cardano made a strong bullish and recovery movement, accompanied by a volume above average, indicating the existence of a buyer flow and an interesting support zone. (See full analysis).

YYanPC

Because they form during a bullish correction, their apexes are always pointed up. That is why they are called Ascendants. To identify bearish Rising Wedges as patterns of continuation of the downtrend, the main characteristic to look out for is to verify that their direction or their apex is contrary to the trend; another important feature is to verify that the high of the wedge can never be higher than the high of the previous bearish move that it corrected.

On the daily chart of ETHUSD all configurations of the Ascendant Low Wedge are present, with the effective breakout on the 17th/01. With that, I believe we are facing the continuation of the downtrend for the Bitcoin.

With this price target (blue line on the chart), note that it is possible to break the low of 9/21/2021 ($2,651.00), a significant support line to be tested by this bearish move. (See more about Ethereum).

Cryptocurrency Traders Bets

The price of the pair RACA/USDT after it made the last lower than the previous one worth $0.0021354 (purple line) broke up a descending wedge (green line) and then made a new top at $0.0025545 (purple line). From where the price started a correction to gain momentum and retest resistance, which once overcome will seek the next resistance at $0.0028730 (purple line).

With the 50 (blue line) and 200 (yellow line) moving averages supporting the uptrend direction and indicators below the chart such as MACD sloping up in favor of the direction of the uptrend and the RSI above 50 in the short term on the 15M chart. (See the dynamic chart).

Disclaimer: The analyzes presented here are studies only. They are not investment, purchase or sale recommendations, nor do they reflect the opinion of the media vehicle in which they are being published. These are studies aimed at people with knowledge and experience in the financial market.

Our Authors: Wendel Suzano, Lucas B. Sampaio, YYanPC e Cryptocurrency Traders Bets.





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