Cryptoverse - Update #1
ETH, SOL, RUNE & DOGE
OUTLOOK ⚠️⚠️ Caution ⚠️⚠️
- Extreme caution must be taken as BTC is showing weakness and most altcoins will NOT pump while Bitcoin free falling.
Ethereum (ETH)
- On the monthly chart it looks bullish.
- Price broke above previous highs (bullish) and is now consolidating.
- At the same time the RSI broke market structure down showing weakness and a possible retest of the 50RSI might be in play.
BINANCE:ETHUSD Chart Image by ZelfTrade
- So what does this all mean??
- Although we are long term bullish, in the next few months we may see a correction in price.
- A sweep of the lows at $2,800 and 50RSI retrace is more than likely and price could go even lower and still be long term bullish so do not be amazed.
BINANCE:ETHUSD Chart Image by ZelfTrade
- Short term we advise NO TRADE
- We'll be waiting for a $2,800 sweep and reclaim of that price.
- If price goes bull run mode before then, great. We'll start looking for entries once bullish structure and momentum is confirmed.
- But for now, there is no point in catching falling knifes.
Solana (SOL)
- Quite similar to ETH's chart, price broke above previous highs (bullish) and is now consolidating but RSI broke market structure down showing weakness and a possible retest of the 50RSI might be in play.
BINANCE:SOLUSD Chart Image by ZelfTrade
- Within the next few months we could expect a retrace in price toward the $100 - $80 price range and we'll still be completely bullish.
RUNE
- Awesome project but this shows no signs of strengh so far.
- Our first level of interest will be the $3 ish mark followed by $2.2 - $1.7 which will be an ultimate bargain.
BINANCE:RUNEUSD Chart Image by ZelfTrade
Dogecoin (DOGE)
- Our beloved meme coin is letting us down once again.
- We'll be waiting the for $0.90 - $0.80 mark and this will be perfect long entry.
- As long as price does not break below $0.75 we'll remain bullish on this one.
BINANCE:DOGEUSD Chart Image by ZelfTrade
