Weekly Technicals Pro - Volume 64

Market Sentiment

Market Indexes

Total Market Cap

The Total MCap is nicely respecting $1.35T as support which sets the stage for a rally towards $1.7T. Price action remains range bound but a breakout in either way is imminent and our bets remain on an upside breakout.

Altcoins Market Cap

The Alts MCap also rebounded from the $645B level of support which still sets the stage for a test of $1.115B.

BTC

Bitcoin's price remains in the same [$30,000-$40,000] range. Price has shown strong demand the previous week and indecisiveness this week. So far, price is chopping around with no clear direction and until a breakout takes place we cannot make assumptions.

ETH

ETH has tested the $1,935 level of support once more and found support. For a recovery confirmation, price will need to reclaim above the previous $2,800 high on the weekly timeframe.

DOT

While DOT is maintaining its price above the $15 level of support the demand has thus far been very weak. To enter a safe zone, DOT must reclaim $19.40 as it remains in danger of falling towards single digit numbers at this point.

SNX

Nothing like seeing DeFi rise back in a sudden large green move. On the weekly timeframe we can see two important developments:

1. Reclaim of $7.50 which turns it from resistance into support
2. Bullish engulfing candle on the weekly timeframe communicating strength

Next key level: $11

RUNE

RUNE has not yet shown significant strength, though we must state that it is above the $5.75 level of support. As previously stated, the recovery would only be confirmed after a weekly reclaim of the thick white line: $11.50.

SOL

SOL is currently struggling with the $36 level of resistance. However, it has been tested multiple times on the daily timeframe which weakens the supply there after each touch so that opens up higher odds of a breakout.

SRM

Despite SRM respecting S/R on the weekly timeframe, price must reclaim $3.79 on the daily timeframe in order to see any sort of upside continuation or rallies.

FTT

FTT has reclaimed $25 and has $35 next on the cards.

MINA

MINA is trading in a very tight range with support underneath at $1. However, these consolidations after listing dumps take a while to end (several months) and we speculate the bottom would set somewhere around [$0.75-$1].

XRP

To catch up with the remainder of the market, XRP must reclaim $0.79 for further upside, otherwise $0.47 is on the cards till then.