This is a daily analysis of the best tokens with CME futures by Coindesk analyst and rented market technician Omkar Godbole.
Bitcoin: Retroke of the upward market
The Bitcoin
Market Rally has stagnated in the last 24 hours as expected, but instead of consolidation, prices have removed more than 5% to $ 116,800 of the highest records in a typical movement of a setback in the upward market. The reports suggest that the profits by the long -term holders is weighing the price of the cryptocurrency.
It is common for the markets to visit rupture points again, in this case, the maximum of May 22, around $ 111,960, and prove the underlying purchase interest before marking larger demonstrations. A similar dynamic was developed earlier this year as prices fell from more than $ 100,000 of $ 75,000, visiting the rupture point since the late 2024.
From a technical analysis perspective, the broadest bullish will prevail while prices remain blocked in the ascending channel in the daily table. During the next 24 hours, the approach will be in the chart per hour, which shows a strong lower corrective trend, with prices that are negotiated below the Ichimoku cloud to suggest a bassist impulse.
However, the RSI in the graph per hour has fallen below 30, indicating an overendon condition, a marked contrast with the previous reading of 70 or overcompra seen a day ago. So, you can’t rule out a rebound. The probability of a setback at $ 111,960 would weaken if the potential recovery ends the downward trend channel. Such movement will probably result in new records.
Open interest is close to the high record
Volatility could remain high since the cumulative open interest in futures on land and high seas and the perpetual future in the high seas have increased to 734.82k BTC, which is freshly scammed with the 744K BTC record in October 2022, according to the Coingcko data source.
It is likely that the growth in the open interest is directed by exchanges on the high seas since the number of active contracts in the CME remains below the maximum of May, with the annualized base of three months still below 10%. On the contrary, the annualized financing rates in perpetuals on the high seas have exceeded 11%, indicating a growing demand for bullish exposure.
The highest motion index
The movement index, which measures the implicit volatility of 30 days in the United States Treasury notes, has recovered from a critical level that has constantly foreshadowed acute peaks in market volatility since 2024.
That is a cause for concern for bulls because the volatility peaks in the treasure market tend to lead to a financial adjustment, a risk development. In addition, since 2024, the moving funds have marked BTC price marks.
Be careful that the story is repeated, which leads to a deeper setback in the BTC bull market.
- AI Take: The 5% Bitcoin setback is a healthy bullish market feature, with the aim of re -testing the key level of $ 111,960 before starting a stronger rally.
- Endurance: $ 118,000-118,500, $ 120,000, $ 123,181
- Support: $ 113,688 (38.2% fib setback of the demonstration as of June 22)$ 111,965, $ 107,823 (61.8% FIB)
XRP: It has 100 -hour support and cloud
XRP
It has fallen from $ 3 and seems to be trapped in a downward trend channel in the chart per hour, reflecting BTC. Even so, XRP seems relatively better, maintaining the confluence of the simple mobile average of 100 hours (SMA) and the Ichimoku cloud at $ 2.81.
A rupture from here would imply the end of the correction and resumption of the widest upward trend towards the annual peak of $ 3.4. On the highest path, bulls are probably proved again in around $ 3.
Be careful with the movement under the Ichimoku cloud, since that would strengthen the immediate bear case, changing the 200 -hour SMA approach to $ 2.6.
Once again, volatility could be raised with the future perpetuals of interest that reaches a record of a maximum record of 2.74 billion XRP, according to Coinglass. Annualized XRP financing rates are adjusted to 15%, indicating a growing bias for leverage farm.
- AI Take: In spite of the XRP per hour that shows a BTC-Mirroring low trend from $ 3, its strong retention above the 100-hour SMA and Ichimoku Cloud with an underlying support of $ 2.81 underlying. Registration of perpetual future interests open interest and high financing rates indicate a significant leverage bullish demand, rupture above $ 3, to $ 3.4, probably if current support is maintained.
- Endurance: $ 3, $ 3.4
- Support: $ 2.81, $ 2.6- $ 2.65, $ 2.38
ETH: Waiting for rupture
Ether (Eth) It remains caught in an expanding triangle, with the stochastic flickering daily with an overcomprain reading, aiming to stretch the impulse up, which weakens the case of a large short -term break. It seems likely to consolidate around resistance, since prices are firmly above the Ichimoku cloud in the daily table and the short -term Point Smas to the north, which indicates a bullish bias. An eventual rupture would change the approach to $ 3,400, a level led by option operators.
- AI Take: The daily stochastic that is covered indicates that the impulse stretches, which makes a convincing thrust above the higher tendency line is unlikely in the short term.
- Endurance: $ 3,067 (61.8% fib setback)$ 3,500, $ 3,570, $ 4,000.
- Support: $ 2,905, $ 2,880, $ 2,739, $ 2,600
Sun: $ 168 is the new level of resistance
Sun advantage is still difficult to achieve despite the double breakup in the daily table. Since Friday, the bulls have failed at least twice to chew bassist pressures in around $ 168, as evidenced by the long superior wicks attached to the candles for Monday and Friday. Then, now a break is needed above $ 168 to confirm optimism.
On the negative side, $ 157 is the level to see, since it marks the support of the double pattern neckline in the table per hour. A breakdown of the support line would imply the potential of a deeper decrease to $ 146, according to the measured movement method.
- AI Take: Merchants must observe a definitive rest above $ 168 to confirm the upward continuation; Otherwise, a loss of the neckline support of $ 157 could trigger a deeper decrease around $ 146.
- Endurance: $ 168, $ 180- $ 190, $ 200.
- Support: $ 157, $ 145, $ 125.
