Bitcoin's decline today saw its price around 77 thousand dollars due to strong selling pressure after failing to stabilize above 80 thousand and with traders' fears of a correction current supports 77 thousand important support breaking it opens the way to 74 72 thousand strong support we might see a rebound at 68 to 65 thousand last support if pressure increases resistances 80 to 82 thousand first resistance 87 strong resistance broken returns positivity
Ethereum is down due to the tensions that have arisen, and it is natural for it to return to its previous price.
Now the price of Ether is 2720. There are important points that a person must know before risking any currency, and this is the easiest method in the market (supports and resistances).
Important supports for Ether:
- First support 2700 .. 2680 A strong psychological area A price rebound from it gives a positive signal.
- Second support 2650 .. 2600 Accumulation area Breaking it requires caution as it opens deeper declines.
- Last support 2450 The price only reaches it if the entire market is negative.
Important resistances:
- First resistance 2800 .. 2850 It must break through it firmly to continue rising.
- Second resistance 3000 .. 3050 A strong psychological barrier Breaking it changes the outlook for the market.
- Third resistance 3250 A strong selling area But if it breaks, the momentum becomes high.
How to deal with the price??
Buying should be close to the supports. Reducing or selling should be at the resistances. A real breakout is when there is a clear close and strong trading volume. Patience is the most important thing because Ether moves in phases. $ETH #WhoIsNextFedChair
Bitcoin these days is very strange.. It has been continuous with these fluctuations since the beginning, but the last two days have seen increased tension due to some events, the most important of which are:
1 .. Breaking an important support The price fell below areas that were holding it, triggering automatic selling and scaring the market.
2 .. Strong liquidations People entered with high leverage and their positions were wiped out, leading to a sudden increase in selling.
3 .. American interest rates The decline in hopes of interest rate cuts has caused liquidity to exit crypto.
4 .. General fear in the market Investors flee from risky assets during times of tension.
5 .. Distribution by the big players Whales reduced their positions and with them, they pulled out confidence.
6 .. Short-term speculators They entered greedily and exited with losses, accelerating the drop.
7 .. Tension and escalations due to geopolitical events The recent events occurring on the map are causing a crisis.
BNB is in a downward trend after a strong drop reaching 801 and then giving us a slight rebound, but it is still a weak rebound and has not entered a real upward trajectory. The current situation .. The price is around 829 and is trying to hold above 830 in order to build a stronger rebound wave. The whole movement is just probing, not a confirmed rise. Supports 820 is a nearby support and if it breaks, the pressure returns 801 is the most important current support and the bottom of the drop
Bitcoin is around 87000 and fluctuating near the daily peak without strong movement.
The overall market situation is in a calming phase after the recent drop, liquidity is low, and the movement happening is more of accumulation than a clear rise or fall.
Supports
85000 is a nearby support, and if broken, it will take us back to a deeper retracement area.
82000 is a stronger support, and if it drops to this level, it will increase fear in the market.
Resistances
90000 is the first resistance, and if breached, it will bring back momentum.
92000 .. 93000 is a strong pressure area, and if it surpasses this, it starts to give a clear upward direction.
Bitcoin is standing between strong support and tough resistance. Breaking 90000 gives us an upward momentum, and breaking 85000 gives us increased pressure. The current movement is all waiting for the spark ..
The best thing you can do in the current market situation if you are afraid of losses is to stay out of the market.
- The correct and accurate thing is to stay outside, not inside the market. Why? Because all the opportunities are fleeting, and if your money disappears, it's not easy to recover it. Therefore, whenever you feel fear from the market, do not take risks if you are not sure at all.
- Do not say that an opportunity has passed me by; I must be with it. There are many opportunities, and you can buy from everywhere and sell everywhere too. Do not regret what has passed; the future, God willing, will be better.
- The simplest thing you can do in the current market situation is to close your portfolio and go to sleep 😂.
Injective is a Layer 1 network built on Cosmos SDK, focusing on creating decentralized trading platforms with performance levels close to centralized exchanges. It allows the connection of multiple networks like Ethereum and Solana and facilitates the transfer of assets between them easily.
Project Features
High execution speed and low fees.
A complete order book on-chain instead of an AMM system.
Interconnectivity between multiple networks and strong compatibility.
A weekly burn system via an auction that buys INJ from the market and burns it.
Strong support for developers and encouragement to build DeFi applications on the network.
Uses of INJ
Staking and securing the network.
Paying network fees.
Voting on governance decisions.
Contributing to the burning system that reduces supply over time.
Summary
Injective is one of the networks building real infrastructure for DeFi, relying on an economic model that reduces supply over time. Its success depends on the expansion of applications operating on it and the increase in trading volume.
Let's set aside the analysis for a moment and come together in this post to discuss as ordinary people.
- In my opinion, what is happening right now is a manipulation of prices aimed at liquidating as many wallets as possible and zeroing out traders.. unfortunately, this is what is happening, and the incredible profits we see are all lies upon lies.
- I have been in the market for more than 5 years, and this is the first time I see manipulation like this, a decline without correction, and a very strong outflow of liquidity, with wallets struggling afterwards.
- I advise you to stay out of the market until the situation calms down a bit; in the end, your money is with you, and the market is still there, it won't fly away, and opportunities will renew.
- But, but, but if you want to enter at your own risk, I always advise you to take old leading coins and invest in them because the market is destined to rise, God willing.
This knowledge is with God.. I will disappear and enjoy a cup of coffee and close the wallets, hopefully tomorrow and the day after will be better 😅😂
Come on everyone, let's talk in a logical language.. These prices have not reached the market for six months.
Bitcoin has reached $82,000 for the first time in 7 months. Ethereum has reached $2,600 for the first time in about 5 months.
- The prices are very low, and this indicates that if the market breaks more levels, it will recover from a very deep correction.
- If the numbers continue to decline like this, you might see Bitcoin at $70,000.
- Just like the peak in 2021, the drop afterwards was catastrophic and historical, so we expect, and God knows best, that this drop is a bit sharp.. But does it constitute a buying opportunity? Some leading cryptocurrencies yes, but to preserve your money, if you enter, only enter simple speculative trades or buy Solana, Litecoin, and strong alternative coins.
The General Trend Ethereum is under clear pressure after breaking the three thousand area and entering a strong correction wave with a loss of upward momentum. The entire market is leaning towards fear, and liquidity is weak, reflecting the rapid decline.
Reasons for the Decline 1. The impact of Bitcoin's decline dragging down most of the market 2. Losing support at three thousand, which was an important barrier for buyers 3. Federal expectations of not lowering interest rates currently, causing investors to steer away from risky assets 4. Weak liquidity in the market, and any strong selling opens the door for faster declines 5. Exit of many positions from derivatives and unwinding leverage
Current Supports 2580 support 2400 heavy support, and if it reaches this level, it is considered a strong demand area
Resistances 2950 first resistance 3150 second resistance 3300 resistance gives the first sign of momentum return if surpassed
Current Situation Ethereum needs to return above 2950 to alleviate the pressure. If it breaks 2700, we may see a deeper drop towards 2500 to 2400. However, if it rebounds from the current areas and regains 3150, it will gradually return to the recovery path.
Bitcoin dropped below the 82 thousand level due to strong selling pressure and the entry of negative liquidity in the short term. The overall market sentiment shifted from optimism to fear after breaking important price levels.
Reason for the drop Liquidation of many leveraged positions in the market reached billions, which caused a rapid drop and increased selling pressure. The Federal Reserve's expectations have shifted to indicate that interest rates will not decrease soon, which drives investors away from risky assets like crypto.
Do the determined come with determination .. and come according to the noble the honors. The small things grow in the eyes of the small .. and the great things shrink in the eyes of the great.
Instead of being busy with trading, I preferred to have my meal and sip my coffee away from the market noise. A little calm restores balance before returning.