SOL aims for lift-off against stubborn resistance levels, while RUNE and AVAX face more downside risks if key support fails.

On the other side, LINK delivered profits from its upside prediction and RNDR bounced off its discount.

HONEY and LDO are long-term favourites, but patience will be key to getting the best entry prices.

As usual, we provide you with guidance on optimising your odds of short-term gains and long-term profit.

Let's dive in!

Disclaimer: Not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results. “One Glance” by Cryptonary sometimes uses the RR trading tool to help you quickly understand our analysis. They are not signals, and they are not financial advice.

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SOL is trying to break out

• From a mechanics perspective, SOL's Open Interest has popped higher but remains well below levels from a month ago.
• The Funding Rate is at 0.01%, indicating there is no major bias in positioning, which is healthy regarding a leverage viewpoint.
• The SOL chart is interesting. The major support is between $77 and $81, with the major horizontal resistance at $117 and $131.
• SOL is attempting to break out from the downtrend line, while it has used the uptrend line as support recently.
• Locally, $102 to $104 is a tricky level for price to overcome. However, if price does get above this level, then this opens the door to $117.
• To the downside, the price will need to hold the uptrend line. If that's lost, then the $77 - $81 zone will be the target.

Cryptonary's take

SOL is trying to break out of the downtrend line but is struggling to overcome the liquidity box (the purple box). If price can overcome $104, then we see SOL moving higher in the coming week or so. But if SOL cannot break out, then it will likely lose momentum and end up breaking down as price squeezes against the uptrend line.

A break below the uptrend line would see price potentially get to $77 - $81. However, we think the odds of SOL breaking out outweigh breaking down.

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RUNE still looks weak

• Price has recovered slightly, finding support at the $4.50 level.
• Price is running into the prior support, now flipped potentially into new resistance at $4.78.
• If price can reclaim $4.78, then this may give RUNE a chance to push into the downtrend line (red line) and potentially get an upside breakout from there.
• The RSI is nicely reset on all major timeframes now, so this is not a worry and actually a positive aspect.

Cryptonary's take

RUNE continues to look weak here price-action-wise, particularly if it cannot recover $4.78 and flip it into new support. 

If it can't (and we expect it not to be able to), then the next move will be further downside to finally fill the main buying box (the yellow box) at $3.70 to $4.06. This is where we'd become more aggressive with DCA buying to hold for the long term.

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AVAX is struggling to regain momentum

• AVAX is at a really interesting spot here, especially with price having filled the first yellow box, meaning it's less likely to hold on a second retest.
• Once price lost (fell below) the $39 horizontal support, it became new resistance, which we saw price reject into six days ago.
• Price is now battling at the uptrend line and seemingly struggling to get any upside momentum while just about holding onto the uptrend line.
• We'd expect the first yellow box ($30.40 to $32.30) to act as support on a first move down. However, if this level is lost then we expect further downside to the lower yellow box ($24.05 to $26.50).
• The RSI is out of overbought territory on the 3D and the Weekly, but it's close to overbought territory, so it could still pull back further.

Cryptonary's take

AVAX seems to be struggling for momentum here and looks to be struggling to hold onto the uptrend line. If the uptrend is lost, we expect price to at least pull back to $33.60. We'll then be looking if price fills the upper yellow box, and if so, does that hold as new support?

In the long term, we still see better entries on the horizon and would expect price to fill the lower Yellow box ($24.05 to $26.50) at some point in the coming months. This is where we'd become more aggressive with DCA orders.

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LINK delivered profits as predicted

• LINK is up really nicely since we called for further upside at $15.40 just two days ago.
• It's important now for price that if it pulls back slightly then it would need to see the horizontal level of $15.33 become support.
• If LINK can clear $16.10, then a move further to $17.00 and then $17.50 is very possible. $17.50 would likely be resistance in the short term.
• The RSI has reset on the major timeframes, which supports prices having less resistance to go higher - all good from this perspective.

Cryptonary's take

This was perhaps the play in which we were most confident when we put out a new market direction two days ago. And so far, it has played out nicely, with traders making profits (for those who took it). We would identify a profit level between $17.00 and $17.50.

In the long term, it's hard to see LINK pulling back as far as $11 (where our yellow buy box is); however, we would wait for this level to add sizeable long-term spot positions.

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RNDR offers a lesson on patience

• RNDR is a great example of why we layer orders in the yellow boxes; we wait for them to fill and then expect the bounce.
• RNDR has done well to bounce and get back above $4.05, which could have become a new resistance.
• There is now a local resistance at $4.56, and price may struggle to overcome this level, particularly as there is a zone of resistance at $4.36 all the way up to $4.56.
• If price can break out of the downtrend line and the local resistance of $4.56, then $5.28 is on the cards. However we see this as quite unlikely as too many resistances must be overcome.

Cryptonary's take 

We wouldn't chase this as the move is already relatively underway. To the downside, you'd expect $3.70 to act as support; if not, then both the yellow boxes can be filled as on RNDR; both yellow boxes are quite close together.

We would wait for the yellow boxes to add long-term DCA orders for RNDR.

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Wait for the perfect time to DCA into HONEY

• HONEY’s chart is super unhelpful as it does not have loads of data. Note that we have presented a 4-hour timeframe chart rather than our usual 12-hour one.
• There are two uptrend lines, with the lower being the main uptrend line.
• A big liquidity zone is between $0.18 and $0.23. If price revisits there, accumulation buying will likely step in.

Cryptonary's take

HONEY is one that we all really like for the long term. Price-wise, it's really hard to put a strategy together for this. So, we do a wider strategy that should still be accommodative. 

Between $0.18 and $0.23, we would add lots of lights DCA orders. Sub $0.18 down to $0.14, we would add more aggressive DCA orders. If the market, in general, will be flat over the coming months, then we may get some downside and opportunities to fill orders. 

Therefore, layering orders is probably a good strategy here. It is really tricky to get this one perfectly right, and we know we want a position for the long term. This is why we've gone with a strategy that accommodates a wider price range, and we just change the size of our Spot buys - the lower price goes, the heavier our orders get by USD size. 

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Wait for a better discount on LDO

• Note: we have used the 1D timeframe chart here.
• It is still in a main uptrend, which is positive; however, the price is breaking below a key local level of support at $3.23.
• We would expect the upper yellow box ($2.76 to $2.89) to act as a first area of support. That could see price get a small bounce before rejecting and going lower from there.
• The lower yellow box ($2.44 to $2.60) would be the main buying zone to add to long-term Spot positions.

Cryptonary's take

We wouldn't look to add LDO into this larger price movement higher. For long-term Spot buys, we'd target the lower yellow box between $2.44 and $2.60.