SUI has broken the falling wedge pattern in an upward direction as expected. If you have opened long positions, the current spot position is currently in more than 15% profit. The price is currently testing the resistance area, and a break of this resistance will send the price towards a major resistance area.

Major Resistance Area: $1.38-$1.44

ETC has surged upwards from the support area, potentially yielding a 9% profit for those in long positions. To safeguard gains, consider adjusting your stop loss to sit below the support region. The trajectory suggests a potential move towards the resistance area ahead.

Support Area: $24.40-$25.40

Resistance Area: $28.60-$29.60

TAO analysis:

Price is currently trading within a downtrend channel and has been rejected from the resistance line. We will likely see a test of the support area before the next move, so it would be prudent to wait for new entry opportunities.

Support Area: $330-$340

Resistance Area: $395-$405

Bitcoin is retested in the support area and held above it. This is a good sign as BTC is showing strength in the support area. We may see a continuation of the upward movement towards the $69,000-$70,000 major resistance area.

BNB analysis:

The price is currently trading in an ascending triangle pattern, which is a bullish pattern that breaks in an upward direction. We may see a move towards the major resistance area, and a break above this will start a new rally.

Major Resistance Area: $620-$635

Educational Post

What Are Bitcoin Runes?

Bitcoin Runes is a protocol that enables the creation of fungible tokens on the Bitcoin blockchain. Unlike BRC-20 and SRC-20 tokens that also operate on the Bitcoin blockchain, Runes are not reliant on the Ordinals protocol and are designed to be simpler and more efficient. They utilize established Bitcoin blockchain models, such as the UTXO model and the OP_RETURN opcode.

How Do Bitcoin Runes Work?

The Bitcoin Runes protocol operates through two fundamental mechanisms of the Bitcoin blockchain: Bitcoin’s UTXO (Unspent Transaction Output) transaction model and the OP_RETURN opcode.

In the UTXO transaction model, each transaction results in outputs that are treated as separate pieces of digital currency. To initiate a transaction, you use these outputs as inputs. The UTXO model allows for the tracking of every unit of cryptocurrency. In the context of Bitcoin Runes, each UTXO can hold different amounts or types of Runes, which simplifies the management of tokens.

The OP_RETURN opcode allows users to attach additional information to Bitcoin transactions. This opcode facilitates the inclusion of up to 80 bytes of extra data in an unspendable transaction. Bitcoin Runes specifically use the OP_RETURN opcode for storing the token data, such as the token’s name, ID, symbol, commands for specific actions, and other essential data. The data is stored in what is referred to as the Runestone within the OP_RETURN opcode of a Bitcoin transaction.

PORTAL analysis:

The price is currently trading within a falling wedge pattern and is respecting the trend lines. We may observe a move towards the resistance area, and we should monitor how the price reacts when it reaches that point. If the price drops to the support area, consider opening long positions.

Support Area: $0.74-$0.76

Resistance Area: $0.865-$0.888

Bitcoin has rebounded after a successful retest, indicating strong support from the bulls. This may lead to a further upward movement towards the major resistance area, with altcoins also likely to experience a rally.

ETH has bounced from the support area as anticipated following a period of accumulation. We might see a test of the resistance line and potentially a breakout this time. With the Ethereum ETF decision approaching, if it gets approved, we could witness a significant rally similar to BTC.

🔍 Key Level for BTC: $66,200

According to Glassnode data, approximately 410,000 BTC were traded at this level, making it a significant point to watch.

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WLD Analysis :

WLD is been going though the downtrend and made a bear flag pattern, which is a bearish continuation pattern. Price already trading below the Key Resistance area of $5.63 - $6.13 but market turning the sentiment might flip the price. A break will also decide the leg, so keep an eye on breakout either side.