Altcoin Update🤑

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🟢#BAKEUSDT has been trading within a descending channel on a daily timeframe. Throughout this formation, the price has consistently respected the trendlines. We anticipate a significant breakout due to the recent push received from a successful retest of the channel's lower support. 🟢If #BAKE can break above the descending resistance, supported by the liquidity at $0.36, we could witness a strong bullish move. This breakout would signal a potential trend reversal and align with our bullish outlook. 🟢Should the current resistance hold, we might see a retest of the support level at $0.1860. This could provide the necessary rally for a breakout. You need to watch for signs of strong buying interest at this level as an indicator of a potential upward move. 🟢If both support levels fail, #BAKEUSDT could face increased bearish pressure, leading to further declines. In this scenario, monitoring lower support zones becomes crucial to gauge the extent of the downward move.

🏓#ORDIUSDT is moving in a downward channel in the daily and 4H time frames. 🟢At present, according to the downward behavior and structure, the price correction can be continued to $13.00 . 🟢If the price is face selling pressure in response to the supply, first, the price will be corrected to $20 . If the price can break the dynamic resistance range and stabilize above it, it can navigate the specified movement path and move up to the ceiling of the descending channel.

🟢#INJUSDT has been trading within a well-defined descending channel on the daily timeframe, with the price consistently respecting the trendlines. 🟢INJ is poised to challenge the descending resistance of the channel. A potential breakout and retest of the Bullish (around $28.50 - 31.00 could be on the horizon. This area is packed with liquidity and could propel price towards a breakout. 🟢If #INJ can break above the descending resistance, supported by the liquidity at $31.00 , we could see a strong bullish move toward the major resistance zone around $45.00 . 🟢Should the current resistance hold, we might see a retest of the key support level at $15.40. This retest could provide the necessary rally for a breakout.

🟢 #ETH 🟢At High Timeframe The Main Formation Is a ABC By The Clear Expanding Diagonal And Currently The Price Playing At The Wave C ,At Lower Timeframe There Is Bear Flag Formed At The Chart So I Expect a Another Leg Down Toward a 2550$ To 2500$ Zone As a Next Important PRZ Before Any New Bullish Move

🟢#US DOLLAR ANALYSIS 🟢The US dollar has recently broken down from a symmetrical triangle pattern, indicating a bearish trend. This follows a period of consolidation within the triangle. Technical indicators like the Ichimoku cloud and the 100-day moving average are acting as resistance levels. These resistance points underscore the bearish momentum currently affecting the US dollar. 🟢It's important to consider the inverse relationship between the US dollar and the cryptocurrency market. As the US dollar weakens, cryptocurrencies often experience upward movement, indicating potential gains for digital assets in the near future.

🟢Here's the Analysis of #ICP : 🟢#ICP is been making lower lows and flipped below the major area of $7.19 - $7.34. Currently, price moving back and forth of the zone and nothing good for buys. Shorting looks good nearly at $7.88. Buys only after $8.00.

🟢 Buying some #MOG here and placed some buy orders on the $1.2 level. 🟢The chart looks extremely similar to #WIF right after Bybit listing. Currently #MOG is one of the strongest memes on ETH chain (in terms of price action). 🟢Entered this trade on profit from the #LNQ trade, not a big amount. Still very risky since tha market is very shaky.

🟢#BTC/USDT UPDATE: 🟢#BTC is now trading around 57k. Bitcoin has formed a double top pattern on the weekly time frame and is currently testing an important support zone. So the Possible scenarios are If the price gets dumped and breaks the support zone and gives a weekly close, then we can see a bearish momentum in it. Otherwise If the price pumps from the support zone then we can see bullish momentum in it. Stay tuned with us for further updates

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