ETH pumping up and catching BTC swing up.

08.03.2024

ETH pumping up and catching BTC swing up.

Altcoins are still slow in catching the swing up.

Jake
TOP Trader

BTC:
INTRO: BTC consolidating above 66k.

Technical analysis for the BTC/USDT chart:

Key Levels:

  • Resistance: $65,000
  • Support: $50,000, $48,200

Strategy:

  • Long: Buy at $60,100 with a stop loss below $59,000 and a target price of $63,000.
  • Short: Sell at $63,000 with a stop loss above $63,500 and a target price of $60,000.

Range Description:

BTC/USDT is currently trading between $60,000 and $63,000. The pair has broken into the range during the day. However, there are signs that the pair is ready to make a move with a possible retest of support.

On the upside, BTC/USDT is facing resistance at $50,000. The $50,000 level has been tested today, and if the price holds above the daily close, it will be confirmed as support. A break above $50,000 would signal a bullish breakout and could send the pair higher to $52,000.

On the downside, BTC/USDT is facing support at $48,500. This level was a previous resistance for the day and now holds as support. A break below $48,500 would signal a bearish breakdown, sending the pair lower to $45,000 or even $42,000.

BTC1D chart TW link: https://www.tradingview.com/x/3LBp47JV/

ETH:
INTRO: ETH running into 4000$.

Here is a technical analysis of the ETH/USDT chart:

Key Levels:

  • Resistance: $4000, $3800
  • Support: $3700, $3600

Strategy:

  • Long: Buy at $3700 with a stop loss below $3600 and a target price of $4000.
  • Short: Sell at $4000 with a stop loss above $4100 and a target price of $3800.

Range Description:

ETH/USDT is currently trading between $3,800 and $4,000. The pair has broken into the range during the day. However, there are signs that the pair is ready to make a move with a possible retest of support.

On the upside, ETH/USDT is facing resistance at $4,000. This level hasn’t been tested today, and if the price holds above the daily close, it will be confirmed as support. A break above $4,000 would signal a bullish breakout and could send the pair higher to $4,100.

On the downside, ETH/USDT is facing support at $3,800. This level is a previous swing low and has been tested multiple times in recent weeks as resistance. A break below $3,800 would signal a bearish breakdown and could send the pair lower to $3,700 or even $3,600.

ETH1D chart TW link: https://www.tradingview.com/x/4KttcaPP/

XRP:
INTRO: XRP pushing into 0.62$.

Here is a technical analysis of the XRP/USDT chart:

Key Levels:

  • Resistance: $0.50, $0.52
  • Support: $0.48, $0.46

Strategy:

  • Long: Buy at $0.48 with a stop loss below $0.46 and a target price of $0.58.
  • Short: Sell at $0.50 with a stop loss above $0.52 and a target price of $0.46.

Range Description:

XRP/USDT is currently trading between $0.48 and $0.52. The pair has shifted into the range during the day. However, there are signs that the pair is ready to make a move with a possible retest of support.

On the upside, XRP/USDT is facing resistance at $0.50. This level has been tested today, and if the price holds above the daily close, it will be confirmed as support. A break above $0.50 would signal a bullish breakout and could send the pair higher to $0.52.

On the downside, XRP/USDT is facing support at $0.48. This level is a previous swing low and has been tested multiple times recently as significant support. A break below $0.48 would signal a bearish breakdown and send the pair lower to $0.46 or even $0.44.

XRP chart TW link: https://www.tradingview.com/x/3RInynsB/

LINK:
INTRO: LINK pushing into 20$.

Here is a technical analysis for the LINK/USDT chart:

Key Levels:

  • Resistance: $20
  • Support: $17.6


Strategy:

  • Long: Buy at $17.6 with a stop loss below $17 and a target price of $20.
  • Short: Sell at $20 with a stop loss above $21 and a target price of $17.6.

Range Description:

LINK/USDT is currently trading between $17 and $20. The pair has shifted into the range during the day. However, there are signs that the pair is ready to make a move with a possible retest of support.

On the upside, LINK/USDT is facing resistance at $20. This level has been tested today, and if the price holds above the daily close, it will be confirmed as support. A break above $20 would signal a bullish breakout and could send the pair higher to $22.

On the downside, LINK/USDT is facing support at $17.6. This level is a previous swing low and has been tested multiple times in recent weeks as significant resistance. A break below $17.6 would signal a bearish breakdown and could send the pair lower to $17 or even $16.

LINK chart TW link: https://www.tradingview.com/x/suOpYJwm/

SOL:
INTRO: SOL pushing to 150$ resistance.

Here is a technical analysis of the SOL/USDT chart:

Key Levels:

  • Resistance: $135, $126
  • Support: $120, 107$

Strategy:

  • Long: Buy at $120 with a stop loss below $100 and a target price of $130.
  • Short: Sell at $100 with a stop loss above $ 107 and a target price of $90.

Range Description:

SOL/USDT is currently trading in a range between 120$ and 140$. However, there are signs that the pair is ready to make a move to push strong resistance at 150$.

On the upside, SOL/USDT is facing resistance at $135. This level has been tested today and if the price holds above the daily close it will be confirmed as support. A break above $135 would signal a bullish breakout and could send the pair higher to $150.

On the downside, SOL/USDT is facing support at $120. This level is a previous swing low and has been tested multiple times in recent weeks as big support. A break below $120 would signal a bearish breakdown and could send the pair lower to $100 or even $90.

SOL chart TW link: https://www.tradingview.com/x/5sT6okxO/

CRYPTO NEWS:

SOLANA IS ON FIRE! HERE’S WHY…

Solana has been on a roll lately…

  • Its native token ($SOL) is up +15% and hit a 20-month high.
  • Stablecoin inflows have increased every day for the last 10 days.
  • Last week, Solana decentralized exchanges (DEXs) saw $11.24B in trading volume – a new weekly record.
  • On Tuesday, Solana DEXs hit $2.85B in trading volume – a new daily record.

(The Solana club was ? goin’ up, on a Tuesday ?)

So, what’s behind the recent rally? 2 things…

1/ Shiny new tokens

A new wave of meme coins hit the Solana blockchain this week.

But there’s a twist:

The meme coins aren’t animal-themed like they usually are. (i.e. dogs, cats, frogs, etc)

Instead, they’re based on famous people.

But the names are spelled funny…

And the art looks like it was created by a 4-year-old on Microsoft Paint.

Without further adieu, here are the meme coins taking Solana by storm…

I know what you’re thinking…. “This sounds (and looks) so stupid.”

I thought the same thing when I first saw them on Tuesday. So, I didn’t buy any.

Fast forward to today… tokens like Jeo Boden and Danold Tromp are up 100x.

(Brb – gonna go stub my toes against the coffee table to ease the pain).

The lesson: You don’t get to dictate what’s “stupid” in crypto, the market does!

And goofy artwork + funny names = a recipe for virality.

As more of these Solana meme coins go viral → more investors will flock to Solana → more on-chain trading activity.

On top of that…

2/ Pantera Capital has its eyes on SOL

In case you don’t know, Pantera is a crypto OG…

  • Launched the first crypto fund in the U.S. over 10 years ago.
  • First bought BTC back in 2013, when it was worth ~$100. (Btw – Dan Morehead, the founder, wrote an email explaining why they invested at the time. 100% worth the read).
  • At one point, the fund’s lifetime return was over 10,000%. AKA what all little degens around the world dream of…

Now, Pantera has its eyes set on something new… Solana.

According to reports, Pantera Capital is raising funds to buy $250M worth of SOL.

Why this matters: It gives Solana a “stamp of approval”.

You see, for the most part, Solana’s been associated with names like FTX and fkSBF (formerly known as SBF or fkSBF for short).

All bad names. All banned from my house.

So getting a name like Pantera onboard adds some credibility.

$SOL is up +15% after the news.

FAST NEWS:

MicroStrategy increased its convertible debt offering from $600M → $700M. You know what they say… “Mo Money, Mo Bitcoin.”

The proposal to turn on Uniswap’s fee switch has passed the “temperature check vote.” The proposal includes changes in the protocol’s fee mechanism to reward users who delegate and stake their UNI tokens and will now go to an on-chain vote.

Wormhole released details for its big airdrop coming soon. The cross-chain protocol will airdrop ~617M tokens to its early users.

Regulators in Spain have issued an order requiring Worldcoin to cease collecting and processing personal information within the country. Sam Altman’s crypto project has a 72-hour window to abide by the order (or else…).

The Arizona State Senate is reviewing a proposal to include Bitcoin ETFs in retirement funds. The state funds include the Arizona State Retirement System (ASRS) and the Public Safety Personnel Retirement System (PSPRS).

EigenLayer has reached $11.2B in total value locked (TVL). The Ethereum staking protocol jumped Aave to become the 2nd largest protocol by TVL.

Final words:

ETH is pushing up new highs lets catch this swings.

GROW BOT UPDATE:

Copy trade GROW 0.1->10k$ since 18.03.23 we got +219.0% PROFIT!

GROW CURENTLY:

TRADING COIN: BTC/USDT

SETUP: SHORT

TAKE PROFIT: /

SAFETY ORDERS: /

Liquidation: /

Not Financial Advice!
Good luck with trades,
JAKE