Will the weekly open in the green hold its price above for the next push up?

20.11.2023

Dear traders,

The weekly close is crucial after breaking above resistance; it needs to hold for a bigger push up and bullish continuation.

Jake
TOP Trader

BTC is pushing above 37k after a green weekly close and needs to hold above for a bigger push up. However, there is still a danger of a bigger push down.

Ethereum (ETH) is pushing from strong resistance and retesting $2000 as support. It’s still in danger of a bigger drop if the $2000 support doesn’t hold strong.

Ripple (XRP) is losing momentum and pushing back under the $0.62 channel. It needs a strong push with buying volume to drive the price up. Still, $0.62 shows strong resistance, and a break above will indicate bullish continuation.

Chainlink (LINK) is retesting $15 as resistance after a significant breakout and needs to hold it on the daily chart for bullish continuation. A big strong push is still needed to break strong resistance.

Solana (SOL) is holding above $57, now acting as support, and needs to hold it for a bigger push-up continuation.

EOS broke above the $0.7 resistance and is now preparing for a bigger push up to $0.79 if it manages to hold in the $0.7 trading zone.

Litecoin (LTC) has broken through strong resistance at $70 and is now ready for a bigger price push, returning to a bullish channel.

The dollar, after falling due to the decline in US inflation, has its next big support to hold at 103.5.

Crypto/stock daily news:

PUTTING THE LAST RALLY INTO PERSPECTIVE

Every time I check prices, there’s a new coin pumping…

SOL is up 500% this year.

RUNE is up 285% over the last 30 days.

TIA is up 132% over the last 7 days.

My exposure to these tokens: 0%.

(Be right back, gonna go gargle some Castrol oil…)

And some of you might be in the same boat. You feel like you missed the rally.

Well, this graph should make you feel a little better…

This shows what real rallies look like…

In the first half of 2021, the altcoin market cap jumped from $100B to $900B. By the way, the market did see a pullback, and then… it jumped from $450B to $1.1T in the second half of the year.

To put it into perspective, the recent altcoin rally has only led to a market cap increase from $300B to $420B. Psh. Peanuts.

The big takeaway: We’re still early. This is just the warm-up for the big game.

So don’t FOMO into chasing all the pumps. Save some liquidity for when the real rally begins.

“ETHBOY” SELLS FOR $400K

Meet “EthBoy”…

It’s a Picasso-style painting of Vitalik Buterin dressed in a harlequin suit. (a.k.a., those funky-looking clown suits people wore during The Renaissance).

It’s a generative piece of art that changes its appearance every day based on factors like ETH price fluctuations, gas fees, etc.

It was created by artists Trevor Jones, DJ Don Diablo, and Alotta Money (my new favorite nickname).

And this bad boy just sold for 200 ETH (~$400K) yesterday. 1Confirmation added it to its NFT collection. (It’s a well-known crypto VC firm that also bought this CryptoPunk for $3.3M).

Talk about a masterpiece. *chef’s kiss*

Deserves to be up in the Louvre! Right next to Mona.

FAST NEWS:

The Dogecoin community is planning to send a physical DOGE token to the moon. The same mission is also sending a physical Bitcoin token and a copy of the Genesis Block (a.k.a., the first block of Bitcoin to be mined).

Ubisoft is giving away free Ethereum NFTs for its new game “Champions Tactics”. That’s right, the creator of Assassin’s Creed and Just Dance is going Web3.

The Philippine government plans to sell $180M worth of tokenized treasury bonds next week. Blockchain tech in the debt market.

CoinShares International Limited secured an option to buy Valkyrie’s ETF business. CoinShares has the largest market share of European crypto exchange-traded products and is now looking to expand into the U.S.

PancakeSwap released its new Gaming Marketplace yesterday. It lets developers directly build, publish, and update games on the platform.

Aave Companies is rebranding to Avara. The blockchain infrastructure company is well-known for building Aave – an open-sourced liquidity protocol.

BlackRock’s Ethereum ETF filing prompts a quick ETH price reaction. ETH climbed nearly 2% following the ETF filing announcement.