Whole Market Capitalization Chart
Above: Whole Market Cap Weekly Chart
The primary chart I would like us to try is the weekly chart for the Whole Cryptocurrency Market Cap. This isn’t too completely different from a latest article, however I need to maintain this level recent in our minds: The Whole Market Cap chart has not examined the weekly Kijun-Sen since April 2020. The present weekly candlestick has take a look at the Tenken-Sen, however we nonetheless haven’t seen a very good take a look at decrease. I’d anticipate to see all the cryptocurrency market commerce sideways till the start of March earlier than we see the true drive and supreme push to check decrease costs. However look ahead to this sort of a situation to play out on the weekly chart: Have a look at #1 on the Composite Index and never the placement of the present CI line (crimson). If that line drops under the prior low at #2 and the weekly worth degree is at or close to the Kijun-Sen, look ahead to an enormous spike increased.
Above: Litecoin (LTCUSD) Weekly Chart
Litecoin has a trifecta of situations in its oscillators that time to some imminent draw back strain on the weekly chart. #1 exhibits us that the RSI has damaged under a previous trendline and is more likely to proceed decrease. #2 exhibits the Composite Index line learn to interrupt its pattern line. And #3 exhibits the %B line is about to cross under the 0.8 degree. For a confirmed signal of bearish motion, we have to see #2 and #3 fulfill their crosses. I put a vertical line on the worth chart (#4) to indicate the place the long run Kumo Twist happens. A Kumo Twist is an occasion the place the long run Senkou Span A crosses the long run Senkou Span B. A Kumo Twist is commonly a time interval the place developments adjustments or corrections happen. If, across the week of Could third, 2021, Litecoin has been trending decrease, we may anticipate to see the resumption of an uptrend round that date.
Stellar Lumens (XLMUSD)
I haven’t written about Stellar for some time, so I assumed I’d check out its chart. The weekly chart is similar to Litecoin’s, so let’s take a look at the every day chart. There’s a key brief alternative to be careful for when the Lagging Span (#1) drops under the candlesticks and worth (#2) drops under the Cloud. The perfect brief entry is when worth is under the Cloud and the Lagging Span is under the Cloud in addition to under the candlesticks. However watch out about pulling the set off on that brief. The RSI has dropped under the 2 oversold ranges at 65 and 55 and could possibly be organising for a brief time period bearish setting. However the Composite Index is the one we’ll need to look ahead to. If the Composite Index’s line (crimson, #3) crosses above both its quick common (inexperienced) or gradual common (yellow), then we may see a resumption of the uptrend. That is very true if the CI crosses above considered one of its averages and worth motion remains to be above Senkou Span B (backside of the Cloud). Nevertheless, if the Lagging Span and worth are under the Cloud, and the RSI remains to be above 40, and if the %B then crosses under the 0.2 degree – be careful. We’d see some speedy promoting strain happen.
Cryptocurrency Purchase and Promote Entry Ranges: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), NEXO, and Cardano (ADA)
January 29 2021
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February 12 2021
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Cryptocurrency Technical Evaluation, Charts: Ethereum (ETH), Litecoin (LTC), Cardano (ADA)
February 19 2021
Ethereum (ETHUSD) Above: Ethereum (ETH/USD) Weekly Chart with Fibonacci Extensions The picture above shows Ethereum’ weekly candlestick chart. It’s necessary to establish ranges…