Market update: IMF upgrades global growth, as major economies show resilience
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The cryptocurrency market is experiencing dynamic shifts, with Web3 innovations impacting sectors like GameFi, DAOs, and Real-World Assets (RWA). Despite a 1.09% decrease in global market capitalization, Bitcoin maintains a 55% dominance. Notably, Ripple's XRP has surpassed Solana in market cap and is approaching Tether, potentially positioning itself just behind Ethereum. XRP's growth has been hindered by the SEC's lawsuit, which accused Ripple of conducting an unregistered securities offering. However, a recent court ruling determined that XRP is not a security, marking a significant victory for Ripple and the broader crypto industry. The political landscape also plays a crucial role. Under the leadership of Chair Gary Gensler, the SEC aggressively pursued litigation against major crypto exchanges. However, with the re-election of Donald Trump, there's an expectation of a more lenient approach towards crypto firms, potentially pausing ongoing lawsuits and negotiating favorable settlements. Given these developments, XRP is well-positioned to influence the future of finance, especially with anticipated changes in U.S. government policies favoring the digital asset industry. -
By tradinglounge · Posted
JPM Elliott Wave Analysis Trading Lounge JP Morgan & Chase Co., (JPM) Daily Chart JPM Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Minor wave 5. DIRECTION: Upside in 3 of (5). DETAILS: Looking for upside into wave 5. The conservative view suggests we could have a top in place in wave 5 at 250$. It’s possible we will see an extension in wave {v} towards TradingLEvel3 at 300$. JP Morgan & Chase Co., (JPM) 1H Chart JPM Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave (ii) of {v}. DIRECTION: Upside into wave (iii). DETAILS: Looking for completion in wave (ii) with another leg lower to then resume higher towards wave (iii) of {v}. This Elliott Wave analysis for JP Morgan & Chase Co., (JPM) examines both the daily and 1-hour charts to assess its current market trend, utilizing Elliott Wave Theory to anticipate potential future movements. * JPM Elliott Wave Technical Analysis – Daily Chart* JPM is in the process of advancing within wave 5 of (5). While there is a possibility that wave 5 could have already topped near $250, a more bullish scenario suggests an extension of wave {v}. If this happens, the price could rally toward TradingLevel3 at $300. The longer-term view supports continued upside, but caution is warranted around the $250 level. * JPM Elliott Wave Technical Analysis – 1H Chart* On the 1-hour chart, JPM is completing wave (ii) of {v} and is expected to make another leg lower to finish this corrective move. Once wave (ii) completes, the stock is anticipated to resume higher, entering wave (iii) of {v}, targeting a move above $250 in line with the longer-term outlook. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
DOW JONES (DJI) Elliott Wave Analysis: Daily Chart DJI Elliott Wave Technical Analysis Function: Bullish Trend Mode: Impulsive Structure: Gray Wave 3 Position: Orange Wave 3 Next Lower Degree Direction: Gray Wave 4 Details: Gray wave 2 appears complete, and gray wave 3 is currently in progress. Wave Cancel Invalidation Level: 42,849.27 Analysis Overview The Dow Jones Industrial Average (DJI) is exhibiting a bullish trend, as indicated by Elliott Wave analysis. The market is currently in an impulsive mode, signaling strong upward momentum and an expansion phase. The structure being tracked is gray wave 3, which represents a robust upward push following the completion of gray wave 2. Key Observations: Wave Structure and Position: The market is actively progressing in gray wave 3, which showcases a strong bullish impulse. Within this context, orange wave 3 highlights an acceleration phase, emphasizing the continuation of upward momentum. Future Movements: After the conclusion of gray wave 3, a corrective gray wave 4 is expected as part of the lower-degree wave sequence. Risk Management: The invalidation level is set at 42,849.27. If the price drops below this level, the current wave count will be invalidated, and the analysis would require revision. Conclusion The Elliott Wave analysis for the Dow Jones on the daily chart suggests a continued bullish trend, with gray wave 3 currently unfolding. The completion of gray wave 2 has initiated this phase of upward momentum, with further gains anticipated in the short term. Key Takeaways: Positive Market Outlook: The bullish trend is expected to persist as long as the price remains above 42,849.27. Next Phase: After gray wave 3, the market is likely to transition into the corrective gray wave 4 phase. This analysis underscores a favorable market outlook for the Dow Jones, providing insights for trend-following strategies and risk management. DOW JONES (DJI) Elliott Wave Analysis: Weekly Chart DJI Elliott Wave Technical Analysis Function: Bullish Trend Mode: Impulsive Structure: Orange Wave 3 Position: Navy Blue Wave 5 Next Lower Degree Direction: Orange Wave 4 Details: Orange wave 2 appears complete, with orange wave 3 currently in progress. Wave Cancel Invalidation Level: 41,652.82 Analysis Overview The Dow Jones Industrial Average (DJI) continues to exhibit a bullish trend on the weekly chart, as per Elliott Wave analysis. The market is in an impulsive mode, indicating robust upward movement. The observed structure, orange wave 3, represents an expansion phase that follows the completion of orange wave 2. Key Observations: Current Position and Structure: The market is advancing within navy blue wave 5, signifying the final phase of a larger Elliott Wave cycle. The active wave, orange wave 3, highlights strong bullish momentum, suggesting further upward movement in the short term. Future Movements: Upon completing orange wave 3, the market is expected to transition into a corrective orange wave 4, part of the lower-degree wave structure. This marks the nearing completion of the larger wave cycle as navy blue wave 5 unfolds. Risk Management: An invalidation level is set at 41,652.82. If the market price drops below this threshold, the current wave count will be invalid, necessitating a reassessment of the analysis. Conclusion The weekly Elliott Wave analysis of DJI projects a bullish trend continuation, with orange wave 3 actively progressing. The completion of orange wave 2 has set the stage for this strong upward phase, supported by the impulsive structure of navy blue wave 5. Key Takeaways: Bullish Momentum Continues: The current trend is expected to persist until orange wave 3 concludes. Transition Ahead: After the current wave phase, a corrective orange wave 4 is anticipated as part of the lower-degree sequence. Validation Threshold: The bullish outlook holds as long as the price remains above 41,652.82. This analysis highlights the ongoing bullish momentum while preparing for the eventual transition to a corrective phase as the larger wave structure approaches completion. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!
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