Weekly Technicals Pro - Volume 72

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Market Sentiment

Market Indexes

Total Market Cap

The Total MCap continues its grind up with no signs of weakness as of now, there are two high odd routes from here:

• Correct to $1.75T and rally towards $2.5T
• Rally straight towards $2.5T

Altcoins Market Cap

The Alts MCap surpassed $1.115T on the weekly timeframe and it has become support. This chart and reclaim communicates low odds of a correction and high odds of upside continuation to the previous highs.

Bitcoin

Bitcoin had the first red candle after 5 green weeks. Nonetheless, that candle still communicated strength by bouncing off $46,xxx.

$45,000 remains as support and the next resistance is $57,000.

Ether

ETH communicating strength alongside BTC. We saw that price was ranging between $3,000 and $3,325 on the daily timeframe with no breakout yet - once one occurs, we'd know where ETH is headed next in the short-term.

DOT

DOT has turned $27 from support into resistance - unless reclaimed that calls for a test of $19.40.

SNX

SNX continues a registration of higher highs and higher lows which denominates a bullish market structure. However, price was unable to hold $12.40 as support which is worrying for bulls.

RUNE

RUNE is continuously rejecting $11.50 which is our line in the sand for what would invalidate the bearish market structure.

SOL

SOL went from $10 to $100 real quick and that was a great 10X. From here, we've scaled back our position by booking 30% profits on SOL.

SRM

SRM is going up alongside SOL but is struggling to break through the $8.50 resistance, we can only assume upside continuation after a reclaim.

FTT

Someone is continuously selling $50 FTT and word is that it comes from someone at Binance given that this is where the volume is stemming from and they were investors in FTX. From a technical perspective, $42.50 is support.

MINA

The way we're going about MINA is that we'd consider it bullish short-term only if it reclaims $3.10.