This is a technical analysis analysis of the Coindesk analyst and rented market technician OMKAR Godbole.
XRP: It is not yet outside the forest
XRP
Cryptocurrency centered on payments increased 11% on Thursday, according to reports, leaving a bull flag pattern to suggest a renewed impulse. However, it is not yet clear, since prices remain well below the crucial level of $ 3.65, where there was a “top top” candle pattern that occurred last month.
The Tweezer Top is a bearish investment pattern, which includes two candles with identical maximums that represent a clear rejection point, in this case $ 3.65. It is as if the market tried to climb to a new level twice and found a sales brick wall in the same place, a sign that the ascending impulse has stagnated completely.
Bulls, therefore, need to overcome the point of significant supply in $ 3.65, a movement that would invalidate the bass investment pattern.
However, this may be easier to say it than to do it, since the data in the chain suggests that the headlines are sitting in substantial earnings and have a strong incentive to sell current assessments.
“He [XRP] Uncreated net earnings/losses (NUPL) It remains at high levels not seen from the peak of 2021, reaching levels similar to those observed in 2018. These high values indicate that the market still entails significant profits not made, which historically represents areas of potential distribution and pricing correction, “said the alphractal research firm in X.
- Endurance: $ 3.38, $ 3.65, $ 4.00.
- Support: $ 2.99, $ 2.72, $ 2.65.
Bitcoin: BTC expects Breakout
Bitcoin (BTC) The recent setback is currently taking the form of a descending channel (White lines) Within its primary upward trend (Yellow lines). This pattern is a classic “Bull Breather” that suggests that the market is consolidating its recent profits.
The recent rebound of the 50 -day simple mobile average (SMA) It further reinforces the strength of this consolidation. For merchants, this means that although the short -term trend remains corrective, the path of lower resistance remains up.
A decisive rupture of the descending channel would confirm a continuation of the broader bullish trend, potentially producing a movement to register maximums greater than $ 123,000. On the contrary, a movement below the maximum of May of $ 111,965 would increase the risk of a deeper sale to $ 100,000.
- Endurance: $ 120,000, $ 122,056, $ 123,181.
- Support: $ 111,965, $ 104,562, $ 100,000.
Ether: Great rupture
Ether has recovered more than $ 4,200, reaching levels for the last time four years ago. The cryptocurrency has left a prolonged symmetrical triangle that contained its price from the maximum of all time at the end of 2021, which is a great bullish signal.
The decisive rupture, particularly in a table with this long time horizon, indicates that the market has officially entered into a powerful bullish trend, opening the door to a new test of maximum record higher than $ 4,800.
- Endurance: $ 4,400, $ 4,875, $ 5,000.
- Support: $ 4,000, $ 3,941, $ 3,737.
