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EURJPY Hovers Past Mid 129.00 Level As EURO Limits Losses After ECB

EURJPY Price Analysis – July 27

The EURJPY cross stays on track to recover the prior day’s loss after a rebound from the mid 129.00 level during Friday’s European session. The selling pressure in the yen keeps the recovery in EURJPY well and sound at the FX market weekly close. The ECB meeting has helped investors maintain an optimistic outlook on the EURO.

Key Levels
Resistance Levels: 132.00, 131.00, 130.00
Support Levels: 129.02, 128.00, 127.07
EURJPY_Daily_July_23.jpegEURJPY Long term Trend: RangingIn a broader sense, a rise from level 121.61 is considered as a medium to long-term rising phase inside a long-term sideways trend. A further gain is expected as long as the weekly low at 128.59 support level holds.

On the other side, a drop beneath the level at 128.59 weekly low may reveal the 128.21-128.29 range (monthly low-levels Mar.2021) and then level 128.00. Even so, the continuous breach of the 128.00 level may imply that growth has been accomplished from the 121.61 level, refocusing attention on this low.
final_60fa6f17c8f10c00299db5f4_866713.pnEURJPY Short term Trend: Ranging
At the moment the intraday bias in EURJPY remains slightly to the downside. The present rally may aim for a sustained rebound from 128.59 to 131.00 levels. To suggest short-term topping, a breach of 128.50 support level is necessary on the downside. Alternatively, forecast in the event of a retreat may stay bullish.

Nonetheless, a clear breach might see resistance next at the 131.27 level. Near-term support shifts to level 129.02, then level 129.62 which typically holds higher for retaining the initial risk. A breach may see a reversal to level 128.59 but with anticipated fresh buyers below.

Source: https://learn2.trade 

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GBP/JPY Continues Downward Move, Trades at the Overbought Region at Level 152.00

Key Resistance Levels: 150.000, 152.000, 154.000
Key Support Levels: 146.000, 144.000, 142.000

GBP/JPY Price Long-term Trend: Bearish
GBP/JPY pair is in a downtrend. The currency price is making a series of lower highs and lower lows. Today, the pair is approaching the overbought region at level 152.06. The selling pressure will resume in the overbought region. Meanwhile, on June 21 downtrend; a retraced candle body tested the 38.2 % retracement level. The retracement indicates that the Pound will fall to level 2.618 Fibonacci extension or level 143.37.

GBPJPY_-_Learn2trade-1.jpeg GBP/JPY – Daily Chart

Daily Chart Indicators Reading:
The pair is at level 47 of the Relative Strength Index period 14. This indicates that the pair is in the downtrend zone and below the centerline 50. The 21-day and 50-day SMAs are sloping downward. The price bars are below the SMAs which indicates further downside.

GBP/JPY Medium-term Trend: Bearish
On the 4-hour chart, the pair is in a downward move. The pair is presently trading in the overbought region of the market. Meanwhile, on July 8 downtrend; a retraced candle body tested the 38.2 % retracement level. The retracement indicates that the Pound will fall to level 2.618 Fibonacci extension or level 145.37.

GBPJPY_-_Learn2trade_2_chart-1.jpeg GBP/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
The currency pair is above the 80% range of the daily stochastic. It indicates that the pair is in the overbought region of the market. The pair has been trading in the overbought region for the past three days. Sellers are likely to emerge in the overbought region to push prices down.

General Outlook for GBP/JPY
The GBP/JPY pair is in a downward move. The market is currently in the overbought region. The pair will soon resume selling pressure as the pair faces rejection at the recent high. According to the Fibonacci tool, the pair will reach the low of level 145.37.

 

Source: https://learn2.trade 

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DeFi Coin (DEFC) Consolidates for a Stronger Hold Higher

DeFi Coin (DEFC) Price Analysis – August 2

After last month’s fall paused on the approach to daily cloud base and subsequent positive finish, the DEFC continues to consolidate its position in early August as recovery sustains, buyers are adding additional evidence to cement reversal. On July 31, the team said it will lock in DeFi Coin Liquidity for a one-year contract within 72 hours. Locking liquidity not only protects trade volume but also demonstrates a commitment to the DeFi Coin Protocol.

Key Levels
Supply Levels: $2.186, $1.500, $1.277
Demand Levels: $0.661, $0.500, $0.075
DeFi_COIN_Aug_2.jpegDeFi Coin (DEFC) 12-Hour Chart: Ranging
The DeFi Coin (DEFC) will most likely rebound from the ascending trendline support around the $0.833 level before recovering to the $1.277 resistance level, according to the price most likely scenario. Alternatively, until a new fundamental catalyst arises to prompt a range breach, the DEFC could remain range-bound between $0.661 and $1.277.

However, the positive relative strength index (RSI) price divergence in the coin is still extending up to $1.500. This raises the probability of the coin rallying to rise in the medium run. A notable entry for the DEFC will be on a bounce off the ascending trendline at $0.833 or on a reach of the horizontal support level at $0.661 if a short decline occurs.

Source: https://learn2.trade 

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XAGUSD Attempt at Further Recovery Stays Beneath $26.00

XAGUSD Price Analysis – August 1

Silver has made another attempt to climb higher and has recouped some of its previous losses, but the XAGUSD pair still has a long way to go before the buyers are secure. As buyers observe the gap between central banks and mixed greenback over its peers during times of heightened risk aversion, Silver stays beneath $26.00.

Key Levels
Resistance Levels: $27.50, $26.75, $26.00
Support Levels: $25.00, $24.50, $24.00
XAGUSD_Daily_Aug_1.jpegXAGUSD Long term Trend: Ranging
On the daily chart, the main resistance levels to watch are $26.00 and $26.75 levels, which have restricted its upside since early July. The recent low level around the daily ascending trendline at $24.50 should provide instant support in the case of an unforeseen downturn.

If the $26.00 and $26.75 barrier fails to hold, silver prices may be ready to move further in the medium to long term. The market action has generally been consolidating beneath the $26.00 levels during the last few days. A steady rise towards the February 1 highs could be feasible if it breaks above the $27.50 mark.
XAGUSD_Daily_Aug_1-2.jpegXAGUSD Short term Trend: Ranging
On the 4-hour chart, silver appears to be constrained by a big technical hurdle at $25.80. If the barrier holds, XAGUSD is anticipated to find support near the $25.30 level, slowing the bears and expanding gains against the US Dollar in the short term, thanks to the 4-hour moving average of 13.

In the meantime, bears are unlikely to win the market. The upward range between $26.00 and $26.75 might be a potential upside goal. A persistent break below, on the other hand, could signal bullish exhaustion, putting the pair at risk of breaching the major $25.00 psychological mark.

 

Source: https://learn2.trade 

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Gold (XAUUSD) Consolidates Above $1,720, Further Selling Pressure Is Likely

Key Resistance Levels: $1,900, $1,950, $2000
Key Support Levels: $1,750, $1, 700,$1,650

Gold (XAUUSD) Long-term Trend: Bearish
Gold price is in a downward move. On August 9, the XAUUSD fell to $1,677 low and corrected upward. Today, the market has risen to a level $1,756 and a further upward correction. Meanwhile, on June 17 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that Gold will fall to level 1.618 Fibonacci extension or level $1,652.86. From the price action, the market is correcting upward to $1,755.

XAUUSD_-_Gold.jpeg XAUUSD – Daily Chart

Daily Chart Indicators Reading:
The market has fallen to level 37 of the Relative Strength Index period 14. It indicates that Gold is in the downtrend zone and capable of falling on the downside. The 21-day SMA and 50-day SMA are sloping downward indicating the downtrend.

Gold (XAUUSD) Medium-term bias: Bearish
On the 4 hour chart, the Gold price has fallen and it is in a downward correction. Gold price is fluctuating between $1,720 and $1,780. XAUUSD is trading in the overbought region of the market. There is the likelihood of further downward movement of the Gold.

XAUUSD_-_Gold_2_chart.jpeg XAUUSD – 4 Hour Chart

4-hour Chart Indicators Reading
Gold is above the 80% range of the daily stochastic. It indicates that the market has reached the overbought region of the market. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend.

General Outlook for Gold (XAUUSD)
XAUUSD price is in a downward move. Today, the price is correcting upward for a possible rejection at the recent high. According to the Fibonacci tool, Gold will further decline to the low of level $1,652.86.

 

Source: https://learn2.trade 

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USDCHF Slide Poised To Remain, Swissy Gains From Safe-Haven Status

USDCHF Price Analysis – August 24

During Tuesday’s European trading hours, the USDCHF maintain its decline and struck a low of 0.9117 after sliding from the prior day’s high of approximately 0.9178. Amid concerns about the coronavirus and a resurgence in the global economy, the Swiss franc gains on its safe-haven status. At the time of this post, USDCHF is trading at 0.9129.

Key Levels
Resistance Levels: 0.9240, 0.9200, 0.9150
Support Levels: 0.9080, 0.9050, 0.9000
USDCHF_Daily_Aug_23.jpegUSDCHF Long term Trend: Ranging
On the daily chart’s technical front, a clean break out of the 0.9117 low level could hasten the downturn. Take note of the 0.9018 low of August. If the price falls below 0.9117, the recent low of 0.9018 will be reached. The 0.9000 support zone is guarded by the latest low of 0.9018. To bring volume to the lows of the 0.9018/0.9000 zone, a fall at 0.9117 is required.

However, there are no obvious indicators of completion at this time. The next objective is the anticipated return from 0.9117 to 0.9150 when high-volume trading resumes. A big breakthrough of the 0.9170 resistance level, on the other hand, would be an early indication of a trend reversal and might bring attention to the 0.9200 upside zone.
USDCHF_4_Hour_Aug_24.jpegUSDCHF Short term Trend: Ranging
The intraday slope of the USDCHF remains in a range, implying a retest of the 0.9018 bottoms. A break of the minor barrier around 0.9150, on the other hand, would shift short-term expectations and neutralize intraday bias once more. Meanwhile, in order to resume consolidation and enter a new phase of expansion the intraday bias will be dragged back to 0.9200.

The downward slopes of the 5 and 13 moving averages, which are also in a bearish slide, provide additional support for recent near-term forecasts. The RSI is declining, and the short-term picture remains skewed towards August lows, with a breach below this level reinforcing bearish fears.

Source: https://learn2.trade 

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EURCHF Keeps Retesting Zones as It Continues to Range

EURCHF Price Analysis ­– August 24

EURCHF keeps retesting between the 1.0070 resistance key level and the 1.0700 support level. The market has been kept back by its bearish trend. This is due to price rejection between the two key zones. The EURCHF market has been battling to continue its bearish trend and has been retesting. Price is anticipated to gain a little bullish momentum as it maintains its accumulation level.


EURCHF Significant Zones

Resistance levels: 1.07700, 1.09050
Support levels: 1.07000, 1.08350

EURCHF keeps retestingEURCHF Long Term Trend: Ranging

The market began to tumble and move in a bearish trend after a retesting of the 1.0905 resistance key level. After accumulating between the 1.08350 and 1.07700 key levels, this trend gained strength. Following that, the price breaks out in a bearish direction. There appears to be a pullback as the market begins to retest the key level of 1.0770. Several price rejections have occurred near this key level. Because of the price accumulation around this level, the EURCHF price may either gain more bullish strength or continue in its bearish direction.

However, the market has maintained a significant range between the 1.07700 resistance level and the 1.0700 support level. Price will continue to accumulate before a breakout can occur. The stochastic Oscillator on the daily chart gives a cross around the 50 level. This indicates market indecision as its ranges. This demonstrates that neither the bears nor the bulls were willing to make a decisive move lower or higher as the market continued to range, retesting key levels.

EURCHF keeps retestingEURCHF Short Term Trend: Ranging

On the 4-hour chart, the market is still in a range and retesting key levels. As more dots are displayed on the Parabolic SAR (Stop and Reverse). This indicates a bearish continuation. The Stochastic Oscillator indicates an oversold condition, indicating that the market is likely to reverse near 1.07700. This reversal could be a retest of the key resistance level of 1.07700 or a break above it.
 

Source: https://learn2.trade 

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Bitcoin SV Price Pulls Back to Gather Momentum for Bullish Trend

Bitcoin SV Price Analysis – August 30

The price may break up the barrier at $185 level and the key resistance level at $217 may be tested when the bulls increase their momentum, further increase may push it to $233. Price may reduce to the support level of $148 and it may continue to the support level of $101 and $73 in case the bears oppose the bulls at $185 level.

Key Levels:

Resistance levels: $185, $217, $233

Support levels: $148, $101, $73

BSV/USD Long-term Trend: Bullish

On the daily chart, Bitcoin SV is bullish. The Bitcoin SV experienced a pullback towards the dynamic support level last week when it tested the resistance level of $185. The bulls are waking up again and the bullish momentum is restoring in to the BSV market. Yesterday, the price increased to test the previous high at $185 but later pull back. There is tendency that the price may increase further above $185 level.

daily1-8.jpeg BSVUSD Daily chart, August 30

The fast moving EMA remains above the slow moving EMA and Bitcoin SV is trading above the 9 periods EMA and 21 periods EMA on the daily chart as a sign of bullish trend. The price may break up the barrier at $185 level and the key resistance level at $217 may be tested when the bulls increase their momentum, further increase may push it to $233. Price may reduce to the support level of $148 and it may continue to the support level of $101 and $73 in case the bears oppose the bulls at $185 level. The Relative Strength Index (14) is at 60 levels with the signal line pointing up to indicate buy signal.

BSV/USD Medium-term Trend: Bullish

Bitcoin SV is bullish on the 4 hour chart. The former resistance level of $148 is broken up and turned to support level. The buyers pushed up the price to test the resistance level of $185. The mentioned resistance level is yet to be broken up. The price is currently ranging within $185 and $148 levels.

4hours-37.jpeg BSVUSD 4-hour chart, August 30
 

Source: https://learn2.trade 

                 

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Bitcoin Cash (BCH) In a Sideways Move, Faces Rejection at $715

Key Highlights
BCH targets the high of $804
BCH/USD faces strong rejection at level $700

Bitcoin Cash (BCH) Current Statistics
The current price: $648.50
Market Capitalization: $13,457,887,724
Trading Volume: $2,976,721,816
Major supply zones: $700, $720, $740
Major demand zones: $250, $230, $210

Bitcoin Cash (BCH) Price Analysis August 30, 2021
Bitcoin Cash (BCH) has fallen to $648.67 low. Since August 16, BCH has been in a downward correction after the uptrend was stalled at level $715. Buyers have retested the resistance zones thrice but could not break above the recent high. Yesterday, BCH was repelled as the altcoin dropped to $641 low. BCH will rally above $800 if buyers overcome the $715 resistance. Today, BCH has fallen to the support above 21-day SMA. The market will resume upward if the support holds.

BCHUSDDaily_Chart.jpeg BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
The altcoin is at level 54 of the Relative Strength Index period 14. It indicates that the crypto is in the bullish trend zone and above the centerline 50. BCH is above the 21-day SMA. A break below the 21-day SMA will cause the altcoin to resume a downward move. The 21-day and 50-day SMAs are pointing northward indicating the uptrend.

Conclusion
Following the recent breakdown, BCH is likely to resume an upward move. Meanwhile, on the August 29 uptrend, a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that BCH will rise to level 2.618 Fibonacci extensions or level $ 804.21.

BCHUSD_Hour_Chart.jpeg BCH/USD – 4 Hour Chart
 

Source: https://learn2.trade 

                 

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XAGUSD Surges on Dismal US Jobs Report Amid Depressed Dollar

XAGUSD Price Analysis – September 5

Silver (XAG) is up 3.90 percent from the last session, assisted by the dismal NFP report, which came in below forecasts. XAGUSD reached $24.87, its highest level in a month, as per the technical analysis. The dollar stays depressed overall, extending weekly losses.

Key Levels
Resistance Levels: $26.00, $25.50, $25.00
Support Levels: $23.50, $22.87, $21.89
XAGUSD_Daily_Sept_5.jpegXAGUSD Long term Trend: Ranging
Long-term and mid-term bias is optimistic, and a climb towards $25.00 is expected if the broken $24.50 barrier level remains as support. On the other side, a break and closure below $24.50 would bring the $24.00 level back into focus. The pair is ranging and may go either way this week.

On the contrary, we’ll anticipate more downside below $24.50, with objectives of $24.00 and $23.50 on dollar’s strength. From a technical standpoint, a breakout south might happen in the next several trading days. In this instance, the XAGUSD exchange rate might find support at 23.50 percent and $23.00.
XAGUSD_4_Hour_Sept_5.jpegXAGUSD Short term Trend: Ranging
The recent breakout past $24.50 is expected to last through the coming trading sessions from a technical standpoint. In this case, the horizontal support level of $24.00 could provide support to the XAGUSD exchange rate in case of a retracement. The RSI stays overbought in the short term.

The pair is expected to find initial support at $24.50, however, further breach lower may go with a slide through taking it to the next support level of $24.00. On the positive, the pair is expected to hit its first level of resistance around $25.00, with a spike through taking it to $25.50.

Source: https://learn2.trade 

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Gold (XAUUSD) Is in a Downward Correction, Struggles Below $1.830 Resistance

Key Resistance Levels: $1,900, $1,950, $2000
Key Support Levels: $1,750, $1, 700,$1,650

Gold (XAUUSD) Long-term Trend: Ranging
Gold (XAUUSD) is in a downward correction after its rejection at the high of level $1,900. Today, the Gold is rising after falling to the low of $1,782. The upward move will be accelerated if price breaks above the moving averages. Besides, the uptrend is hampered at the resistance at $1,830. Previous price actions have been facing rejection at the $1,830 high. Meanwhile, on September 3 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that Gold will rise to level 1.272 Fibonacci extension or level $1,877.12.

XAUUSDDaily_Chart.jpeg XAUUSD – Daily Chart

Daily Chart Indicators Reading:
Gold is at level 49 of the Relative Strength Index period 14. It indicates that there is a balance between supply and demand. The 21-day SMA and 50-day SMA are sloping horizontally indicating the sideways trend.

Gold (XAUUSD) Medium-term bias: Bullish
On the 4 hour chart, the market has fallen to its low at $1,783 as bulls buy the dips. Gold price corrected upward to the high of $1,801 but faces rejection. Meanwhile, on September 9 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that Gold will rise to level 2.0 Fibonacci extension or level $1,816.87.

XAUUSD_4_Hour_Chart.jpeg XAUUSD – 4 Hour Chart

4-hour Chart Indicators Reading
Gold is above the 50% range of the daily stochastic. It indicates that the market is in bullish momentum. Gold price is rising marginally. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

General Outlook for Gold (XAUUSD)
XAUUSD’s price is a downward correction. Gold price is attempting to break above the moving averages. A break above the moving averages will accelerate the upward move. Buyers have two hurdles to jump over. The bulls will have to break above the moving average and clear the resistance at $1,830.
 

Source: https://learn2.trade 

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AUDJPY Faces the 80.760 Support Level in Its Downtrend

AUDJPY Price Analysis – September 13

AUDJPY faces the 80.760 key level as it slips downward. The market began an uptrend after price beat a retreat at the 78.200 support level. The market kept climbing upward till it reached 82.090, at which point the market was knocked down. On its way downward, however, AUDJPY now faces the 80.760 key level which is preventing it from falling further.


AUDJPY Important Zones

Resistance Zones: 81.500, 82.090, 82.900
Support Zones: 78.200, 79.460, 80.760

AUDJPY facesAUDJPY Long Term Trend: Bearish

The AUDJPY market for the past 3 months can generally be described as bearish. This is because, since the 16th of June 2021, price has been falling. Bears faced a confrontation in the fall, majorly at 82.900 and then at 80.760. However, when the market fell to 79.200 on the 19th of August, the downtrend was reversed and price began a fresh uptrend. The market grew 5.27% to reach 82.090, where AUDJPY met brutal resistance and started plunging again.

AUDJPY now faces the 80.760 key level again. The last time the price fell to this level, it took about 20 days to recover. The MA period 10 (Moving Average) has shifted to the top of the latest daily candle to push it further down. The Moving Average Convergence Divergence (MACD) is showing decreasing bullish histogram bars and its lines are converging towards the zero level. These emphasize the weight of bearish pressure in the market. But the 80.760 level will fancy its chances of keeping price up.

AUDJPY facesAUDJPY Short Term Trend: Ranging

AUDJPY 4-hour timeframe reveals that price has begun a ranging pattern below the 81.500 key level as 80.760 has been defending price. The MA period 10 remains above the 4-hours candlesticks, which is a sign of continuous market depression. The MACD Histogram has been all bearish since the 6th of September. Moreso, its lines are about to cross beneath the zero level. This shows that there is a tendency for the market to break lower from the 80.760 key level. When this happens, the price will fall to 80.100.

 

Source: https://learn2.trade 

                 

Edited by analyst75

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GBP/USD Is in Sideways Move, Battles Resistance at Level 1.4000

Key Resistance Levels: 1.4200, 1.4400, 1.4600
Key Support Levels: 1.3400, 1.3200, 1.3000

GBP/USD Price Long-term Trend: Ranging
Since September 3, GBP/USD is stuck at level 1.3891. The bulls have made three attempts to break the resistance at the recent high but to no avail. On September 3, the currency pair was repelled as it fell to 1.3726 low. The bulls bought the dips as the pair resumed an upward move. However, if the bulls break the overhead resistance, the pair will rise above level 1.4000. Meanwhile, on September 3 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the Pound is likely to rise to level 1.618 Fibonacci extensions or level 1.4069.

GBPUSDDaily_Chart-1.jpeg GBP/USD – Daily Chart

Daily Chart Indicators Reading:
The currency pair is at level 56 of the Relative Strength period 14. It implies that the pair is in the uptrend zone and above the centerline 50. The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways move. The pair is stuck below level 1.3891

GBP/USD Medium-term Trend: Bullish
On the 4-hour chart, the pair is in an uptrend. The upward move is repelled at the resistance of 1.3888. In the second uptrend, the pair is still facing rejection at the 1.3900 resistance zone. Meanwhile, on the September 10 uptrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the Pound is likely to rise to level 2.618 Fibonacci extensions or level 1.4188.

GBPUSD4_Hour_Chart-1.jpeg GBP/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The pair is above the 75% range of the daily stochastic. The market is in bullish momentum. It is approaching the oversold region. The 21-day and 50-day SMAs are sloping upward indicating the uptrend.

General Outlook for GBP/USD
Since July, GBP/USD has been in a range-bound move below level 1.4000. The pair has failed to break above the overhead resistance as the market continues range-bound movement below the resistance. The uptrend will resume if the overhead resistance is breached. According to the Fibonacci tool, the pound is likely to rise to level 1.618 Fibonacci extensions or level 1.4069.

 

Source: https://learn2.trade 

                 

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Ethereum price breaks moving averages resumes downward
Ether targets the low of $2,082


Key Highlights

Ethereum ETH) Current Statistics
The current price: $2,908.05
Market Capitalization: $341,770,388,786
Trading Volume: $28,141,190,537
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis September 22, 2021
Ethereum’s (ETH) price has fallen below the moving averages suggesting a further downward movement of the crypto. The bears have also broken below the previous low at $3,026 to another low of $2,656. As the biggest altcoin falls below the previous low, further downsides are likely. Meanwhile, on September 7 downtrend; a retraced candle body tested the 50 % Fibonacci retracement level. The retracement indicates that Ether will fall to level 2.0 Fibonacci extension or level $2,082.71.

video_image-tLcoxv_j3u.jpeg ETH/USD – Daily Chart

ETH Technical Indicators Reading
The crypto’s price is now below the moving averages which suggest that Ether is in the bearish trend zone. The altcoin is capable of falling in the bearish trend zone. Ether is at level 40 of the Relative Strength index period 14. It indicates that the altcoin is in the downtrend zone and below the centerline 50. The coin is above the 20% range of the daily stochastic. It indicates that the market is in the bullish trend zone.

Conclusion
Ethereum is likely to further decline as price breaks below the previous low at level $3,026. Nevertheless, the Fibonacci tool has further indicated a downward move to level 2.0 Fibonacci extension.

ETHUSD4_Hour_Chart-1.jpeg ETH/USD – 4 Hour Chart

 

Source: https://learn2.trade 

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Amid the bearish charge witnessed in Bitcoin (BTC) on Monday, El Salvador President Nayib Bukele revealed that the country bought the dip. El Salvador’s Bitcoin Law went into effect on September 7, making it the first sovereign nation to adopt the flagship cryptocurrency as legal tender.

President Bukele announced via Twitter that his government acquired an additional 150 BTC with the dip. He tweeted that:

“We just bought the dip. 150 new coins! El Salvador now holds 700 coins.

They can never beat you if you buy the dips. Presidential advice.”

BTC traded around $45,000 when Bukele made the announcement yesterday. However, the cryptocurrency has since dropped to the lower-$40,000 area, according to data from TradingView.

Meanwhile, ATM tracking website Coinatmradar.com recently revealed that the North American nation now has 205 crypto ATM locations, the third-largest by a country (behind the US and Canada).

The launch of the Chivo wallet, the country’s official crypto wallet, started with a rocky start. However, Bukele has assured that the Chivo app now operates in optimal capacity. Reports show that the full adoption of the Chivo app could cost remittance providers like Moneygram and Western Union over $400 million per annum.

Last Friday, Bukele tweeted that about 1.1 million Salvadorans now use the Chivo wallet, adding that: “we haven’t enabled 65% of phone models yet.”

Key Bitcoin Levels to Watch — September 21

BTC has fallen to a new monthly low of $40,140 following the industry-wide crash. The benchmark cryptocurrency now struggles to pick itself up and back to recent highs. Already, Bitcoin is on track to post a red monthly candle for September as it always has since it went mainstream.

V5ceDW15.jpeg BTCUSD – 4-Hour Chart

That said, we expect a steady rebound above the $44,000 mark and higher over the coming hours. Nonetheless, we could see a retest of the $41,000 mark if bulls fail to reclaim the $44,000 level soon.

Meanwhile, our resistance levels are at $44,000, $44,400, and $45,000, and our key support levels are at $43,000, $42,000, and $41,000.

Total Market Capitalization: $2.02 trillion

Bitcoin Market Capitalization: $816 billion

Bitcoin Dominance: 42.4%

Market Rank: #1
 

Source: https://learn2.trade 

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BITCOIN PRICE ANALYSIS: LONG-TERM HOLDERS REMAIN UNSHAKEN BY PRICE ACTIONBITCOIN PRICE ANALYSIS: LONG-TERM HOLDERS REMAIN UNSHAKEN BY PRICE ACTION

azeez-mustapha-trading-expert-150x150.jpeg
14 October 2021 | Updated: 14 October 2021

New reports from Glassnode show that despite the recent price surge in Bitcoin (BTC), long-term holders have shown no intention to liquidate and realize profits yet. The blockchain analytics provider also revealed that the percentage of BTC supply held for at least three months reached 85%, a new all-time high.

Citing data from Glassnode, famous Chinese crypto analyst Colin Wu illustrated the recent behavior of Bitcoin holders and their attitude towards the benchmark cryptocurrency. The analyst detailed that the percentage of long-term holders that have not moved their coins in over ten years stands at 12.3%. These tokens are deemed dormant for this reason.

The analyst further noted that the percentage of long-term holders that have not transferred their coins between two to three years and three to five years stands at 10% and 12.26%, respectively.

Finally, the highest percentage of long-term holders were those who have refused to move their coins between the last six months to twelve months, standing at 19.5%. That said, 85.14% of BTCs have not exchanged hands for at least three months, a new record high.

In July, Bitcoin struggled to keep its head above the $30,000 mark. Today, it has almost doubled this number, but investors remain steadfast in holding their coins.

Key Bitcoin Levels to Watch — October 14

As predicted in our previous analysis, BTC witnessed a sharp correction to the $55,000 – $54,000 pivot axis from the $57,500 level over the last 48 hours. This correction found immediate support from the $54,000 level, which triggered a rebound to a new five-month high at $58,500 earlier today.

onD9cbkB.jpeg BTCUSD – 4-Hour Chart

While the price currently rests around $57,500, we expect a bull run to the $59,000 resistance over the coming hours and days.

Meanwhile, our resistance levels are at $58,000, $59,000, and $60,000, and our key support levels are at $56,700, $56,000, and $55,000.

Total Market Capitalization: $2.40 trillion

Bitcoin Market Capitalization: $1.07 trillion

Bitcoin Dominance: 44.9%

Market Rank: #1

Source: https://learn2.trade 

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XAGUSD Price Analysis – October 19

Silver (XAG) positive fortunes faded around the $23.50 mark, with the price erasing its most recent thrilling bounce above the moving average of 13. During the Monday session, the commodity rose slightly and was last seen lingering near day highs in the $23.22 -$23.40 range.

Key Levels
Resistance Levels: $24.50, $24.00, $23.50
Support Levels: $22.87, $22.10, $21. 42
final_616dc50fec178c00e6f0e56e_405382.pnXAGUSD Long term Trend: Ranging
Today, the white metal has struggled and it’s unable to break above the top range of the surge around $23.50, it is currently trading in the red at $23.22 per ounce. Beyond the $23.50 mark, the bulls may regain a stronger grasp.

The XAGUSD pair is held by the rebound trend and the trend may remain in a recovery mode. A closing above today’s upper range, currently at $23.45, might signal a low rebound from the $21.42 level continuation of the rally that began in late September, paving the way for a break beyond the $23.50 barrier.
XAUUSD_4_Hour_Oct_18.jpegXAGUSD Short term Trend: Ranging
Silver (XAG) has a greater range on the 4-hour time frame from late September lows at a level of $21.42, suggesting potential upside. As a result, the metal continues to climb. It has already broken through the previous high of $23.00, signaling that the next upward phase is underway.

The pair is expected to find support at $22.87, and a break of that level might take it to the next level of $22.10 support. The pair is expected to hit its initial critical resistance around $23.50, with a break taking it to the next level of resistance at $24.00.

 

Source: https://learn2.trade 

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GOLD (XAUUSD) REBOUNDS ABOVE $1,757 SUPPORT, RESUMES UPTREND

Key Resistance Levels: $1,900, $1,950, $2000
Key Support Levels: $1,750, $1, 700,$1,650

Gold (XAUUSD) Long-term Trend: Ranging
On October 13, the Gold (XAUUSD) price broke above the moving averages and retested the 50-day SMA. This is an indication that the market is likely to rise on the upside. The uptrend is likely to resume on the upside after retesting the 50-day SMA. The market will rise to retest the $1,820 overhead resistance. XAUUSD will have an accelerated price movement if the resistance is breached. Gold price will retest the previous high of $1,920. On the other hand, the range-bound move will continue if Gold faces rejection at $1,820 resistance.

XAUUSDDaily_Chart_-_OCT.15.jpeg XAUUSD – Daily Chart

  Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways trend. Gold is at level 53 of the Relative Strength Index period 14. Gold is in the uptrend zone and above the centerline 50. Gold is capable of rising on the upside.

Gold (XAUUSD) Medium-term bias: Bullish
On the 4 hour chart, the Gold price rebounded above $1,757 support and rallied to the high of $1,800. The market has reached the overbought region of the market. Sellers have emerged to push prices down. Meanwhile, on October 13 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that Gold will rise to level 1.618 Fibonacci extension or $1,818.70 .

XAUUSD_4_Hour_Chart.jpeg XAUUSD – 4 Hour Chart

4-hour Chart Indicators Reading
Gold is below the 80% range of the daily stochastic. It is in a bearish momentum. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

General Outlook for Gold (XAUUSD)
Gold’s (XAUUSD) price has resumed an uptrend after breaking above the moving averages. The current uptrend is likely to reach a high of $1,820.Gold may face another rejection at the $1,820 resistance.
 

Source: https://learn2.trade 

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