Cryptosanders👑

hello, welcome to this TRX/USDT update by CRYPTO SANDERS. CHART ANALYSIS:- Tron (TRX) rose to a multi-week high on Thursday, on the back of reports claiming that the blockchain sees nearly 5 million daily transactions. TRX/USD peaked at 0.08322 earlier in the day, which comes following a low of 0.08043 the day before. As a result of today’s gains, tron has now risen to its highest point since July 30, when the price traded at a high of 0.08395. it appears that bulls are attempting to reach a ceiling at 0.08600, however, a hurdle on the relative strength index (RSI) seems to be preventing this. Price strength is currently tracking at 67.89, which is marginally below a ceiling at the 68.00 level. In order for bulls to capture their price target, this aforementioned resistance point will need to be broken. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you.

After reading the chart thoroughly if you find it right then please like the chat and comment in the opinion section.

hello, welcome to this ETH/USDT update by CRYPTO SANDERS. CHART ANALYSIS:- Additionally, ethereum (ETH) was also in the green on Thursday, as price rose above a recent support point. ETH/USD reached a high of 1,635.82 earlier in today’s session, less than 24 hours after trading at a low of 1,593.11. The move resulted in the world’s second-largest cryptocurrency climbing above a key price floor at 1,620. today’s rally coincided with the RSI moving past a ceiling of its own at the 40.00 mark, and it now sits at 44.00. This latest rebound has increased the possibility of an upward cross, and should this happen, ETH will be trending closer to 1,700. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you https://www.tradingview.com/chart/ETHUSDT/x5YZi1sT-ETH-USDT-1DAY-UPDATE-BY-CRYPTOSANDERS/

Coinbase CEO Urges Defi Protocols to Challenge Regulatory Crackdowns in Court The CEO of the cryptocurrency exchange Coinbase has encouraged decentralized finance (defi) protocols to fight regulators in court if they face regulatory crackdowns. He stressed that the Commodity Futures Trading Commission (CFTC) “should not be creating enforcement actions against decentralized (defi) protocols,” emphasizing that they are not financial service businesses. “The only thing this is accomplishing is to push an important industry offshore,” Armstrong cautioned.

After reading the chart thoroughly if you find it right then please like the chat and comment in the opinion section.

hello, welcome to this BTC/USDT update by CRYPTO SANDERS. CHART ANALYSIS:- Bitcoin remained in the green for a second consecutive session, ahead of the upcoming U.S. retail sales report. Consumer spending is expected to fall lower, which comes as inflation increased last month. Following a low of 26,084.80 on Wednesday, BTC/USD surged to a peak of 26,529.50 earlier in today’s session. Looking at the chart, the surge comes as the relative strength index (RSI) broke out of a ceiling at 45.00. price strength is tracking at 49.04, which is marginally below a ceiling at the 53.00 mark. Should it move beyond this, there is a good chance that bitcoin will rise above the $27,000 level in the coming days. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you https://www.tradingview.com/chart/BTCUSDT/yTcsMGEi-BTC-USDT-1DAY-UPDATE-BY-CRYPTOSANDERS/

4-hour chart, a well-defined multi-month downtrend becomes evident, characterized by Ripple’s consistent formation of lower highs and lower lows. These lower price swings underscore a robust downtrend in Ripple’s price. The price is grappling with the multi-month descending trendline, attempting to break above it. Given that this trendline is a resistance zone, the most probable scenario is a rejection, leading to another leg of bearish movement and potentially forming a new lower low. However, if buyers successfully maintain the price near this pivotal trendline and drive it above, the scenario could become bullish. It’s crucial to note that this breakout will only be confirmed once the price retraces to retest the breached trendline and forms a pullback. Such a scenario might propel XRP towards higher price levels, with the potential for a surge toward the static support at $0.55. Regardless of the outcome, continuous vigilance in monitoring price fluctuations remains essential, as the interplay between support and resistance levels will significantly influence Ripple’s immediate price trajectory.

After reading the chart thoroughly if you find it right then please like the chat and comment in the opinion section.

4-hour timeframe, it is evident that after weeks of testing the $1,650 support zone, the price has finally broken through and is currently pulling back towards it. If the market rises above the $1,650 level in the coming days, a rally toward $1,750 is imminent. Otherwise, a deeper decline would materialize, spreading fear among investors and making them wonder if the bear market may not be over yet.

On-Chain Analysis Ethereum Taker Buy Sell Ratio Over the past few weeks, Ethereum’s price has been trending down after being rejected from the $2,000 resistance level multiple times. Analyzing the futures market sentiment can provide insights into the current situation. This chart shows the taker buy-sell ratio with a 30-day moving average applied to enhance visualization. The metric indicates whether buyers or sellers are executing their orders more aggressively. Positive values are associated with bullish sentiment, and negative values are considered bearish. This metric has been trending in the negative region over the past few months, indicating that futures market traders are bearish on ETH. As long as this is the case, there is a low probability of a bullish reversal in the short term.

On the 4-hour timeframe, things look a bit better for BTC. The price has been forming a large falling wedge pattern with the lower boundary located at the $25K support level. The price is currently trending toward the higher trendline of the pattern, and in case a bullish breakout occurs, a rise back to the $30K resistance zone will be highly probable. The RSI indicator is also showing a clear bullish divergence between the two recent price lows, adding to the probability of a bullish move in the short term. While the signals on the two timeframes analyzed in this post contradict each other, the higher timeframe is always stronger than the lower one. Moreover, Bitcoin’s market trend cannot be considered bullish again until it breaks the $30K level to the upside.

Onchain Analysis Despite a substantial 100% rally in Bitcoin’s price, it is notable that short-term holders are currently offloading their coins at a loss. The magnitude of these losses is comparable to what was observed a few months ago when Bitcoin was trading around the $17K range. According to the STH-SOPR indicator, opportune times to accumulate Bitcoin typically coincide with a majority of short-term holders parting with their assets at a loss. Historical data has shown that during periods when these investors realize significant losses, often indicated by values within 0.95-0.98, it has paved the way for substantial returns in the future. The last instance of the indicator reaching such a point was back in July 2022, coinciding with Bitcoin hitting a new low at the $19K mark. Should Bitcoin’s price continue to dip below the $25K mark, it is expected that more short-term holders will sell at even greater losses, with the SOPR indicator potentially targeting the values within the above-mentioned range. Hence, before a new upward trend materializes, it is conceivable that the market might witness further bearish sentiment.

TRX Rises to Strongest Point Since July, SOL Extends Gains Tron was a big mover on Thursday, as recent reports suggest that the blockchain platform has been processing an average of 4.8 million daily transactions. The token has now surged higher for three consecutive sessions, and looks set to collide with a key resistance level. Solana was also in the green today.

BTC Hovers Near 2-Week High, Ahead of US Retail Sales Report Bitcoin neared a two-week high on Thursday, as markets looked ahead to today’s retail sales report in the United States. Sales are expected to rise by 0.2% in August, a drop from a 0.7% increase the month before. Ethereum remained in the green, moving back above a key support point earlier in the day.

After reading the chart thoroughly if you find it right then please like the chat and comment in the opinion section.