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ETH: The local trend is still down and there is no upside reaction yet. I now assume that we will see at least a test of the invalidation point of the triangle pattern at $2,810, barring a surprise reversal to the upside. We might see further downside continuation for a test of $2,671 and then $2,446. I am watching for reversal signals, however.
ETH: The local trend is still down and there is no upside reaction yet. I now assume that we will see at least a test of the invalidation point of the triangle pattern at $2,810, barring a surprise reversal to the upside. We might see further downside continuation for a test of $2,671 and then $2,446. I am watching for reversal signals, however.
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SOL: Continuation of the sharp downtrend but there is not much for me to update because so far there is no meaningful reaction to the upside, which could indicate the start of at least a relief rally. The levels also have not changed. $134.19 is next support, then $120 and then $108.75. Below $119 the triangle is invalidated, but I would still focus on a wave 4 correction as an ABC flat correction as shown in white.
SOL: Continuation of the sharp downtrend but there is not much for me to update because so far there is no meaningful reaction to the upside, which could indicate the start of at least a relief rally. The levels also have not changed. $134.19 is next support, then $120 and then $108.75. Below $119 the triangle is invalidated, but I would still focus on a wave 4 correction as an ABC flat correction as shown in white.
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BRETT: Any break below $0.076 will make this chart less clear, because this would indicate a 3-wave price top as per the yellow scenario. A 3-wave price top leaves the door open for new all-time lows, but I would first focus on a larger b-wave pullback as per the yellow scenario.
BRETT: Any break below $0.076 will make this chart less clear, because this would indicate a 3-wave price top as per the yellow scenario. A 3-wave price top leaves the door open for new all-time lows, but I would first focus on a larger b-wave pullback as per the yellow scenario.
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XRP: Looking at the bigger picture, the price is likely working on circle wave C in the white scenario or wave (d) in the yellow scenario, of a still unfolding triangle pattern. The upside breakout point is located at $2.06. However, further sideways price action seems likely as per the triangle pattern. In the short-term, the price could work on this local upside pattern within the triangle as long as the support area holds, as shown on the short-term chart. Short-term support is located in the area between $0.426 and $0.524. Please note that wave A was only a 3-wave move, so the short-term pattern is not clearly bullish, but I am watching for further upside as long as the price holds above $0.426. A 1-2 setup is required, as shown on the 1 hour chart, to indicate that wave C to the upside has started.
XRP: Looking at the bigger picture, the price is likely working on circle wave C in the white scenario or wave (d) in the yellow scenario, of a still unfolding triangle pattern. The upside breakout point is located at $2.06. However, further sideways price action seems likely as per the triangle pattern. In the short-term, the price could work on this local upside pattern within the triangle as long as the support area holds, as shown on the short-term chart. Short-term support is located in the area between $0.426 and $0.524. Please note that wave A was only a 3-wave move, so the short-term pattern is not clearly bullish, but I am watching for further upside as long as the price holds above $0.426. A 1-2 setup is required, as shown on the 1 hour chart, to indicate that wave C to the upside has started.
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AVAX: The price has now reached the 38.2% retracement level at $21.36. It is possible that the price is forming a reversal already without another low, but it takes a higher low to confirm this further, and ideally a break above $22.74 and above the descending trend line. On the smaller time frame, we can see that the price could be working on a 1-2 setup.
AVAX: The price has now reached the 38.2% retracement level at $21.36. It is possible that the price is forming a reversal already without another low, but it takes a higher low to confirm this further, and ideally a break above $22.74 and above the descending trend line. On the smaller time frame, we can see that the price could be working on a 1-2 setup.
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ETH: The price has failed to form a clear 5-wave move to the upside and resistance did not break. I therefore still believe Ethereum needs to form another low at, so I'm not too concerned about it holding wave two support. However, if the price does hold support, we should see an impulsive reversal before the price breaks below $2170. If the price holds support and then breaks above $2670, I think the chances of a bottom being in are pretty decent.
ETH: The price has failed to form a clear 5-wave move to the upside and resistance did not break. I therefore still believe Ethereum needs to form another low at, so I'm not too concerned about it holding wave two support. However, if the price does hold support, we should see an impulsive reversal before the price breaks below $2170. If the price holds support and then breaks above $2670, I think the chances of a bottom being in are pretty decent.
Crypto Banter Signals
XRP: The price is still holding above the upper support region, which is defined between $0.562 and $0.58. A break below $0.562 would make a test of the B-wave support area more likely. Remember that news-driven price movements often lead to 3-wave price tops. It would therefore not be a surprise if the price fails to maintain an upside impulse. However, the fibonacci levels will guide us. For now, we can watch if the price reacts to fibonacci support.
XRP: The price is still holding above the upper support region, which is defined between $0.562 and $0.58. A break below $0.562 would make a test of the B-wave support area more likely. Remember that news-driven price movements often lead to 3-wave price tops. It would therefore not be a surprise if the price fails to maintain an upside impulse. However, the fibonacci levels will guide us. For now, we can watch if the price reacts to fibonacci support.
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ADA: The i-ii, 1-2 setup as highlighted in orange is possible as long as the price holds above $0.3241. Below this level $0.2911 becomes the key support for a wider i-ii setup as shown in yellow. If the price follows the accelerated bullish scenario, then wave iii should reach $0.423+ next.
ADA: The i-ii, 1-2 setup as highlighted in orange is possible as long as the price holds above $0.3241. Below this level $0.2911 becomes the key support for a wider i-ii setup as shown in yellow. If the price follows the accelerated bullish scenario, then wave iii should reach $0.423+ next.
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MATIC: The price could still easily form one more low. A break above $0.461 would be a first signal that a more substantial low has formed in either white wave ii or yellow wave 3. It remains my view that this chart has a lot to prove. At the moment, the price is consolidating below the 50% retracement level, which is an ideal level to start a wave 5 from.
MATIC: The price could still easily form one more low. A break above $0.461 would be a first signal that a more substantial low has formed in either white wave ii or yellow wave 3. It remains my view that this chart has a lot to prove. At the moment, the price is consolidating below the 50% retracement level, which is an ideal level to start a wave 5 from.