On the weekend I witnessed Cryptocurrency prices A certain recovery after the decline in geopolitical tensions in the Middle East between Iran and Israel. This had a negative impact on the risk appetite in financial markets in general, and on the price of Bitcoin, which touched levels of $59,000.
This week, participants will likely return Digital Currency Market Focus on fundamental factors. Whether it is American economic data, or technical factors specific to each currency.
Below we will look at a technical analysis of some digital currencies that could provide us with trading opportunities if they rise. By trading opportunities, I mean regular upward movements, not...For strong movements The percentage exceeds three digits.
Tron TRX Coin
In recent months, this cryptocurrency has been on our list of digital currencies to watch, and the reason is simple. We follow the basic rule of “trading with the trend”.
price Tron TRX Coin It has been moving in an upward trend since November 14, 2022. That is to say immediately after FTX Stock Market Collapse. The rise in intensity intensified in mid-June, marking the start of the ETF saga.
The price is now trading within the $0.1090 support level. They represent good purchasing opportunities. However, if it is broken, strengthening can be made from the strongest support level at $0.1010, which is very close to the very strong ascending trendline.
Binance BNB Coin
Since mid-December, he can Binance BNB Coin Price To recover and compensate for the losses suffered last year. Due to the legal issues that Binance has suffered all over the world, especially in the United States of America.
Binance coin is heavily affected by the performance of its parent company, Binance, after the digital currency market saw a strong recovery thanks to spot Bitcoin ETFs. It is natural to be one of the biggest winners in this current bull market.
On the daily chart, things are moving Binance BNB Coin Price In a sideways range confined to Fibonacci levels. Barring significant changes in the market (like a Bitcoin collapse), any decline may represent a buying opportunity.
Especially the 50% Fibonacci retracement support level at $500, close to the ascending trendline.
LINK Coin
During the last quarter of last year, we witnessed LINK coin price The Chainlink network is experiencing strong and brutal growth which was driven by Chainlink's announcement of entering into several agreements with global financial institutions to benefit from the financial asset tokenization solutions it offers.
Then, the price entered a sideways trading state, limited to the $13-$17 price zone. Then it continued to rise amid the rise of the digital currency market in general.
Fluctuations LINK coin price Not strong, neither down nor up. Therefore, any pullback towards technical levels will represent a buying opportunity.
Currently, on the daily chart, we notice that the price has returned to trading within the sideways rectangle after breaking through the $17 level and the ascending price channel.
The best area for speculation and buying is India, the high support level is $13.
At present, it is very likely that the digital currency will follow the general market trend, which itself is linked to a high percentage Bitcoin BTC Price Performance.
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