Weekend pump hitting resistance before next move up?

29.05.2023

Dear traders,

Today, the US market is closed, and before it opens, cryptocurrencies are pumping as the weekend ends. Will this upward trend hold until the New York open session tomorrow?

Jake
TOP Trader

BTC breaks a significant resistance level over the weekend, demonstrating strength. It still needs to break $28,400 on the 4-hour chart to initiate a bullish breakout with a target of $29,500. There is a notable CME gap below $28,000, which could be filled during the week.

ETH breaks resistance lines and reaches a strong resistance level at $1,920. It needs to break the downtrend line for a bullish breakout; otherwise, the price could quickly retreat to $1,820.

XRP breaks resistance and is currently trading at the $0.48 resistance level. Is this a bearish retest or the beginning of a bullish push-up that we will see in the coming days?

LINK breaks resistance lines above $6.45 and is approaching a resistance line. It needs to break $6.7 for bullish continuation. Still a good opportunity for a spot-long position.

SOL breaks the $20 resistance line and reaches the previous resistance at $21, showing good momentum after finding support at $18.6. It needs to hold above $20 for the bullish trend to continue.

EOS breaks above $0.86 and shows promising momentum to continue its upward movement if it remains above $0.89 on the daily close. Still a good choice for a long-term spot position.

LTC breaks above $90 and is currently facing strong resistance at $91. It needs to break this level on a daily basis before making a bigger push towards $100. In 60 days, there will be a halving event in LTC, which suggests a significant price increase due to the reduction in mining supply. This presents a great investment opportunity to hold!

DXY is struggling with the 104.3 resistance and needs to break it for a larger bullish push-up.

CRYPTO NEWS

NFT’S TOP MOVERS OF THE WEEK

Here were this week’s top movers (in terms of sales volume):
• Milady (+70%): A whale sold off their holdings in the collection, along with additional activity from Blur’s lending platform, Blend.
• Pudgy Penguins (+31%): The collection of cute flightless birds gains volume with its toy launch.
• Opepen (+40%): NFTs from this collection exchanged hands over 1,500 times as details around the next artist release were revealed.
NIKE RELEASES OUR FORCE 1
Nike launched the Our Force 1, and these virtual sneakers are fresh.
What are the quick hits?
• The sneakers come in two styles: New Wave and Classic Remix
• In order to purchase, you need to have a .SWOOSH account. You can join the waitlist here.
• Each of these boxes cost $19.82, which is the year that Nike’s Air Force 1’s debuted
• Over 73,000 boxes have been sold, which is over $1.4M
• The total supply of these boxes is 106,453 which is a play on the T-9 keypad. (remember those?) 6-4-5-3 = N-I-K-E.
Why does this matter? Well…it’s Nike.
One of the most popular brands in the world is entering the world of NFTs. And if you look closely, they want to make these more than just digital collectibles.

I expect these boxes to sell out within the next few weeks. If you have a .SWOOSH account, you might want to grab a pair, or 4 (the maximum per account). They’ll probably be the cheapest pair of sneakers you’ll find!