Bitcoin (BTCUSD) Elliott Wave Technical Analysis 1 November 2022
-
Posts
-
By Cryptowarrior · Posted
XRP, the native token of Ripple, saw a moderate week while other major cryptos like Bitcoin surged. XRP hit a high of $0.6180, marking a 60% rise from its lowest point this year. However, it still has a long way to go to reach its all-time high (ATH). XRP’s Path to ATH While Bitcoin and Ethereum have surged this year, XRP has not kept pace. Here’s a quick comparison: Bitcoin: Reached $80,000, nearly doubling year-to-date. Ethereum: Hit $3,216, but still 52% below ATH. Binance Coin (BNB) & Tron (TRX): Near their ATHs. XRP, at $0.6057, would need a 222% increase to reach its ATH of $1.96. While such gains are possible in crypto, XRP lacks a clear catalyst to drive it there in the short term. Current Support and Resistance XRP has established a solid support level, indicated by the orange trendline, which has held since June 2022. The key resistance is at $0.9302, its high in June 2023, which is 52% higher than the current price. Breaking this resistance is essential for XRP to approach its ATH. For a deeper dive into XRP Price Prediction and market trends, check out our detailed analysis. Ripple’s Catalysts for Growth Several factors could drive XRP’s price higher: New Stablecoins: Ripple plans to launch a dirham stablecoin and has the RLUSD in the works. Regulatory Shift: The upcoming Trump administration may resolve the ongoing Ripple Labs litigation, easing regulatory concerns. Community Support for RLUSD: If RLUSD gains traction, it could boost XRP demand, though competition from Tether remains strong. Developer Incentives: Ripple’s significant capital could incentivize developers to build on the XRP Ledger, increasing demand for XRP. XRP has potential for growth but needs to overcome resistance points and capitalize on catalysts like new stablecoins and regulatory changes to reach its ATH. While short-term gains are uncertain, XRP’s long-term outlook remains promising. -
By tradinglounge · Posted
Copper Elliott Wave Analysis The sell-off on Copper from the late September high is set to continue lower toward the September lows. However, the phase is corrective. Thus, the larger bullish cycle from August 2024 and October 2023 should continue afterward toward the highs of the year 2024. From the long-term perspective, the commodity is clearly within the bullish cycle that started in March 2020. In addition, Copper's long term from the March 2020 low is structurally evolving in a diagonal structure. Meanwhile, this diagonal structure is expected to complete the much larger bullish cycle that started pre-2000. The Daily Chart Analysis On the daily chart, the evolving diagonal from March 2020 has probably completed wave IV and is now correcting the wave ((A)) of V. This means, the price is down in wave ((B)) of V. Provided the August 2024 low of wave IV is unbreached and wave ((B)) completes a corrective structure, the idea in the long-term still supports the upside. The H4 Chart Analysis The H4 chart focuses on the sub-wave development of wave ((B)) which is emerging into a double zigzag wave pattern. Wave (X) of ((B)) has already finished and the price is in wave (Y) - precisely in wave C of (Y) of ((B)). Thus, the corrective phase from September 2024 could extend lower toward 4.15-4.00 to complete wave ((B)) before the next bullish phase begins for wave ((C)). Technical Analyst : Sanmi Adeagbo Source : Tradinglounge get trial here! -
By cryptomaga · Posted
This Solana meme have seen tremendous bullish price trend. Leaving so many imbalances which must be filled. If it reject $0.47 the third time then the next possible support should be around $0.44 or lower. Anyway, lets keep an eye on this chart to see a possible short entry around $0.46-7
-
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now