Review of trend structures and my expectations for the coming weeks on Bitcoin and key altcoins.
The key local support zones highlighted in the previous market outlook did not hold against selling pressure, increasing the likelihood of a more prolonged consolidation across the crypto space.
As long as prices continue to close below their local resistance areas, the base scenario remains in favor of further correction toward macro support levels.
Below is a brief summary of important resistance, support zones and potential trend structures I am following:
BTCUSD
Chart:
Resistance: 112-114.5k
Support: 103.5-101-98k
ETHUSD
Chart:
Resistance: 4115-4215
Support: 3700-3430
BNBUSD
Chart:
Resistance: 1020-1040
Support: 900-870-840
XRPUSD
Chart:
Resistance: 2.87-2.99 / 3.07
Support: 2.55-2.40-2.32
HYPEUSD
Chart:
Resistance: 49-50-53
Support: 35.5-29-23
SOLUSD
Chart:
Resistance: 213-219
Support: 177-169
Thank you for your attention, and I wish you a successful week ahead.
