Key market updates. A thread with TA and more. 🧵
$PUMP - $BTC - $ETH - $XRP - $ADA - $SOL - $HYPE
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3. $ETH entered a consolidation period with the price hovering at similar levels to last week. This is normal.
Key support at $3.3k and $3k. Any will do before new highs. I see a test of 4k and ATH likely later on.
Use this correction to get positioned across alts.
4. $XRP dropped from $3.6 to $3 after a new ATH. Why? Insiders selling hard, they did this since 2014.
Retail is exit liquidity.
Good support at $3 and $2.6. Lower and XRP's rally is over. If $2.6 holds, new highs/ATH remains likely.
5. $ADA can't find its footing and its recent pump to 90 cents was largely driven by market optimism.
Now that is gone and the price was quick to drop. ADA can't sustain a rally against market sentiment.
Good support at 70c & strong support at 64c. $1 is still possible later.
6. $SOL visited $200 on Tuesday and by Wednesday it lost that level. That's weakness.
Nevertheless, the chart made higher highs and lows.
As long as the support at $150 holds, SOL can revisit $200 and move higher later.
7. $HYPE continues to disappoint with a 8% loss this week.
Despite its strong fundamentals and buy-backs, the chart tells us that at $50 HYPE was overvalued since buyers could not sustain that valuation.
Seems the price overshoot in May and June. Good support at $37.
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