Australian Dollar / Japanese Yen(AUDJPY) Day Chart Elliott Wave Technical Analysis 31 January 24
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By CryptoSaint · Posted
FLOKI, one of the rising stars in the crypto market, has been making headlines recently. Here's a breakdown of what you need to know about the current state of FLOKI and why it could be a smart move for investors this quarter. 1. Current Market Performance As of now, FLOKI coin is trading at $0.000123, experiencing a 1.50% drop in the last 24 hours, according to Coinpedia markets. Despite this minor dip, the coin is holding strong above a crucial support level. This shows that while the price may fluctuate, the fundamentals remain solid. If you're someone looking for a reliable investment, FLOKI might be worth considering. Many investors view it as a "no-brainer", especially with its ability to maintain key support levels even during periods of volatility. 2. Valhalla's Rising Influence Crypto analyst Jelle recently noted FLOKI’s increased visibility, particularly through its association with Valhalla—a popular name in sports events. This exposure has been instrumental in boosting the coin’s profile among mainstream audiences. At the same time, FLOKI’s trading bot is seeing a surge in usage. More and more traders are turning to it as a preferred tool for buying and selling tokens, adding to the coin’s overall credibility and growth potential. 3. Key Market Trends: Higher Lows and Positive Momentum FLOKI’s price action is following an encouraging trend. The coin is forming higher lows, meaning its support levels are progressively stronger. This is usually a bullish signal, indicating that there’s room for growth in the near future. With the broader crypto market expected to perform well in Q4, FLOKI is excellently positioned to ride this wave of positive momentum. Analysts believe that the coin could see significant gains as we approach the end of the year, making it an appealing option for both short-term and long-term investors. 4. FLOKI Trading Bot: A Game Changer for Traders One of FLOKI's most innovative features is its trading bot, which has already achieved some impressive milestones: $27 million in trading volume 20,000+ active users The FLOKI Trading Bot is designed to offer traders a fast and efficient way to execute trades, eliminating common issues like slow DEXs, transaction delays, and slippage. This can be crucial in the crypto world, where the speed of transactions can often make or break your profit margin. For traders, this could mean the difference between a 1x or a 5x return on the same trade, simply because the bot allows them to act quicker than other platforms. 5. What’s Next for the FLOKI Trading Bot? The FLOKI team isn’t stopping here. They’re constantly working on new features and improvements for the trading bot, aiming to make it the #1 trading solution on the market. With these upcoming updates, the bot is expected to become even more powerful and user-friendly, offering traders the best possible tools for navigating the market. Final Thoughts: Is FLOKI Right for You? If you’re looking for a promising investment in the crypto space, FLOKI certainly checks many of the right boxes. Its growing presence, strong support levels, and innovative trading bot make it a coin worth keeping an eye on, especially as we move into a potentially bullish Q4. -
By tradinglounge · Posted
Gold Elliott Wave Analysis Gold Elliott Wave Analysis: Strong Rally with More Upside Expected Gold has broken out of its 3-week range and surged to a new record high, continuing its highly profitable run for investors in 2024. Since ending a prolonged 51-month bearish phase from the September 2011 peak in September 2022, the yellow metal has appreciated nearly 60%. This impressive rally shows no signs of stopping in the short term, but traders should be cautious about entering new positions at elevated levels. Here's a detailed analysis from an Elliott Wave perspective. Long-Term Chart Analysis On the daily chart, Gold has been in a steady bullish trend since December 2015. According to Elliott Wave theory, the market completed the supercycle degree wave (IV) in September 2022. This marked the end of the 51-month bearish phase that started in September 2011. The completion of wave (IV) set the stage for a new impulsive wave (V), which is currently unfolding. Within this wave (V), waves I and II were completed in May and October 2023, respectively. Gold is now progressing in wave (3) of 3 (circled) of wave III. Wave (3) is a powerful impulse wave that is driving prices higher, and it is currently in its final stage, labeled as wave 5 of (3). This final leg of wave (3) is also forming an impulsive structure, indicating that the bullish momentum remains strong. The strength of the current uptrend suggests that traders should consider buying pullbacks, as these dips could offer attractive entry points for long positions. Long-term investors can also continue to hold, as the broader trend remains firmly bullish, and there is potential for more upside. Daily Chart Analysis From a closer look at the daily chart, the ongoing advance in wave (3) is part of a larger impulsive structure. Wave (3) of 3 (circled) has been particularly strong, and within this wave, the final phase (wave 5 of (3)) is approaching completion. This suggests that while the uptrend is intact, the market may soon face a period of consolidation or a minor corrective pullback before resuming its upward trajectory. For now, Gold is likely to continue its advance toward new highs. Traders should focus on timing their entries during pullbacks to maximize profit potential, while long-term buyers are advised to stay the course and hold their positions as wave (V) continues to unfold. H4 Chart Analysis On the H4 chart, the structure of wave 5 of (3) is more clearly visible. The sub-waves that comprise this final phase started forming in late June 2024. At this point, waves i and ii (circled) within wave 5 of (3) have already completed, and Gold is currently advancing in wave iii (circled). Zooming further into wave iii (circled), we can see that the price is in wave iii of (iii), which is often the most powerful part of an impulse wave. This sub-wave is expected to drive Gold toward the 2750 level in the coming weeks. However, traders should avoid buying from current highs, as entering at the top of a strong rally could expose positions to near-term pullbacks. Instead, waiting for decent corrections will offer better entry opportunities for long positions. Conclusion Gold remains in a strong bullish trend, with the Elliott Wave structure suggesting further upside potential. The market is advancing in wave (3) of 3 (circled) of wave III, with the next major target being around the 2750 level. While the trend remains robust, traders are advised to wait for pullbacks to enter new long positions rather than chasing the current highs. Long-term investors can maintain their positions, as the broader outlook continues to favor further gains. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here!
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