The market is green, but will it stay green?

Let's have a look at BTC - ETH - HBAR - NEAR - XTZ to learn more.

BITCOIN ANALYSISALTCOINS ANALYSIS

1/17/20230 min read

In the last 24 hours, attempts were made to activate sell trade loss limits. According to the previous explanations, the price of Bitcoin has taken on a range trend in these ranges due to the sensitivity of the current situation. The resistance range drawn at $21,210-$21,100 has not been definitively broken yet, and the breaks you see have all been fakes. We can consider a range channel for the current price in the 4-hour timeframe. Inside this channel, there is an ascending channel in the lower times, and the momentum of Bitcoin still shows an upward movement. Therefore, breaking the resistance of the $21,883 range can activate higher targets for buyers. Note that due to the increase in the funding rate of futures transactions, there is a high possibility of heavy fluctuations to activate buying and selling transactions in the futures market. Bitcoin keeps surging higher, reaching its highest level since September 2022

MonoCoin Signal Bitcoin's Analysis
MonoCoin Signal Bitcoin's Analysis
MonoCoin Signal Ethereum's Analysis
MonoCoin Signal Ethereum's Analysis

Ethereum has formed a narrow bullish channel in contrast to Bitcoin the previous day, and the previous day's bullish effort briefly broke the previous ceiling at $1,681. The bottom of this ascending channel is considered in the range of $1,520 to $1,535. Ethereum could enter a deep corrective wave if this support is broken, and its supports will be in the $1,450-$1,400 range. But suppose the $1,681 resistance is broken this time. In that case, Ethereum can also cross the midline resistance of its channel and continue the upward movement to the higher targets intended for it. Note that due to the price entering the supply ranges at higher timeframes, the probability of stability of this upward movement is low. This means Ethereum can have quick negative reactions when it hits these resistances.

MonoCoin Signal HBAR's Analysis
MonoCoin Signal HBAR's Analysis

The first support is at the price of $0.050, which was the first encounter with a positive reaction, and the second support is considered in the $0.044-0.046. With this strong reversal, we expect to see the range trend of this HBAR between the specified levels this week. After that, we can expect higher targets in the $0.070 range to be available to buyers after the upcoming resistance is broken.

MonoCoin Signal NEAR's Analysis
MonoCoin Signal NEAR's Analysis

NEAR has maintained a strong uptrend over the past week, and buying support has led to a break above the long-term descending channel ceiling and static resistance at $1.75. The next resistance in the $2.03-$2.08 range was exactly followed by a reaction on both sides and has now become a good support. But the second support is considered in the range of $1.84 to $1.89, which is a more reliable range. This strong bullish wave could form once again, and if there is a pullback and a positive reaction to the supports, we expect a rally to the $2.65-$2.96 range. There is strong potential for a price reversal in the daily time frame, and if Bitcoin holds its support, NEAR could take a mid-term bullish trend .

Monocoin Signal XTZ's Analysis
Monocoin Signal XTZ's Analysis

XTZ continued its price growth last week. The support of buyers has caused the resistance of the range of 0.86 to 0.90 dollars to be broken. Hitting the two important static and dynamic resistances in the range of $1 to $1.05 had a negative reaction, and has caused the price to stop below this resistance. If the support of buyers can break this resistance, we can expect further price growth to the resistance range of 1.22 to 1.36 dollars. But if the negative reaction to this range causes the price to enter the corrective wave, the support that can be considered in the demand area ranges from $0.86 to $0.91. Of course, the support of $1 has prevented the price from returning several times in the low times. In the weekly time frame, two strong bullish candles signify a fake break range of $0.90. Therefore, the return to this area is followed by support again.

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