Evening DDians! After a few issues featuring exciting and curated stories from the crypto world, we now bring you trading tips and recommendations from our in-house team of market experts.
Check out our analyses, chart setups, and make the best of them, as we want you to turn profits on every trade that you execute.
Disclaimer: Analyses and trading setups are based on our inference of current and probable near-term market behaviour. Hype rules the crypto markets, and the tide can turn at any time, resulting in extreme volatility (either upwards or downwards). Hence, do your diligence. DO YOUR OWN RESEARCH
With Support At $100K, Bitcoin Looks To Take $130K
During the recent selloff, the BTCUSDT pair dropped to just above $100,000, wiping out all over-leveraged long positions, and subsequently, the associated open interest in the derivatives market. However, things have flipped green since then.
Bitcoin price formed a key support range with $100.1k and $102k as the lower and upper bounds. This has turned out to be the most important support level for BTCUSDT. If the pair manages to hold, then the next near-term uptrend will result in a significant upside move from there.
As per our experts, a break of the last all-time high of the $111k level would confirm a parabolic ATH breakout move towards the $130-140k price level.
ETH/BTC Consolidation Could Lead To Another Breakout?
The ETH/BTC pair has been consolidating for almost a month after May’s surprising breakout, which shot ETH prices to $2,700.
The consolidation has been positive overall, coupled with rising institutional demand and swelling inflows for ETH investment products. Another near-term breakout is on the cards, which may result in ETH/BTC shooting up to new levels. The same will be bullish for altcoins (in general) as well.
PEPE, TAO, XRP, MEME, TRUMP Looking Good!
Top memecoin, PEPE, has bounced strongly from the weekly EMA (Exponential Moving Average) level around 0.000011$ and looks primed for a positive upside move. Of course, ETH’s rally will be a huge catalyst for PEPE.
Top AI token TAO has led the bounce amongst altcoins. The TAO/USDT pair is holding well above the weekly EMA around $370 and is holding the price level as good support.
For XRP/USDT, the $2-$2.1 price zone acts as the key support area. A proper hold of this support level will pave the way for considerable price breakouts in the near-term.
MEME is showing strength after a long downtrend. Positive news and catalysts from the team can potentially bump up MEME/USDT prices multiple times.
The TRUMP/USDT pair is sitting at a key support area around $9-10 and is holding above it properly. President Trump’s birthday is coming up next week, so TRUMP stands to gain good momentum from the same as well.
