12 May My Technical Analysis
$LUNA Not the slightest reaction. 11 USD was an important level, but it broke through. Only today the drop is around 70%.
The Do Kwon recovery plan did not work either, technically there is support at the level of 4 USD, but we will wait and see whether it works or not.
You can take advantage of two strategies while taking the bottoms: First, if there is a reaction when it goes down to the support, you can take it and set a stop below it.
The second is to distribute orders around the support / support zone and take it with limit orders without waiting for a reaction and keep a stop below the last support.
Meanwhile, the events of LUNA and UST have allowed crypto to create its own FUD. In general, the downward trend in crypto will thus continue.
📌 Since the day 38.5 (blue regression) was lost, the decline in $BTC continues to accelerate. Following the closing under the blue value in 2018, there was a 30% loss in the one-week candle, today this value is around 20%.
Objectives subject to analysis:
✅ 29K
👣 23-25K
$ETH demand zone targeted analysis ends here ✅
As 3148 -> 1800, 42% decrease is given in the analysis 🎯
Reaction purchases come from here, but the old lows that formed the base in the vaccine did not go down, you know, I do not trust the bottoms formed in this way.
Those who are looking for the answer to the question of whether the crypto will fall further, should take a look at how much ETH BTC and altcoins have fallen in 2018. Stocks, cryptos, ie risky assets, always fall at unexpected rates, setting traps with big drops in the bear market to trap the investor. I wouldn't be surprised if BTC sees 12K ETH 300-400 USD because if you look at past drop rates, you'll see for yourself that these are possible.
Proceed with caution. You will understand that there is a bottom or not, sometimes days or months later, it is not that easy 🙂 If you are taking a risk, you have to take it either very small or by adjusting your stop level well.
I mentioned the 0.38 and 0.28 targets for $ADA. I see it drop as low as 0.40. ✅
I hope it was appreciated.
If 0.28 is still on the table and the market has not made a clear turn yet, then I will analyze it again.
Since the range of $AAVE 92.7 and 59 is the past accumulation zone, I said that there may be a decrease and demand from here, 64 was seen. I do not see a very serious demand in terms of demand yet. Keep waiting.
I said that the range of 64 and 41 USD for $LTC is important and likely to be seen. 64 seen ✅
the lowest was 54. 41 is still on the table.
This is the graphic that best sums up $XTZ crypto. When the trend breaks, be prepared for disaster.
2.49-2.01 and 1.57 all tested. ✅
The market still does not give confidence, I have not bought yet, let's see today.
$SOL
He has tested the 47 level and hasn't been able to hold on yet. Sol Luna Avax, these are the coins of a period that move money among themselves, the fall of Luna, therefore, has a high impact here as well. If it cannot close the week above 47 which is the weekly support, we can see 26 and 19 as well.
For now, it's left in the middle, it's not long or short from here.
Take it easy,
It is not investment advice.
Graph Source: Tradingview