It's been a crazy week. Currently, the market has found short-term support. Are we finally going to see some relief or will the bear take control again? Let's find out!👇 Author: youngcryptowolf Editor: YousraAASheikh BTC ETH LUNA NEAR SOL FTM
, we will study the price action to analyze the movements of BTC, ETH, NEAR, SOL, LUNA, AVAX, and FTM in the 4-hour time frame.Zooming out and looking at the left side of our 4-hour chart, we can see the price respected the $30,000 zone multiple times. This was BTC's last major support level before revisiting its previous $20,000 all time high.has been in this downturn since November. The bulls still need to do some work before we see a reversal confirmation.
A 4-hour close above $2,100 puts bulls in position for a higher high. However, if we see a rejection from the resistance zone shown, expect a continuation of lower lows.Looking at the 4-hour time frame, we can see NEAR respecting market structure. The question is if this will continue.continues to respect its bullish channel, even after the recent market sell-off. It is now looking to close above the resistance level and continue a new cycle to the upside.A 4-hour close above $7.
A 4-hour close above $56 is a good start for the bulls. However, if we see a rejection from this psychological resistance, expect the sell-off to continue.is down 100% in comparison to the last week. LUNA's sell-off was due to the volatility in the market with a combination of the issue of its circulating supply.
If there is a 4-hour close above $37, the bulls will have enough room to push towards $50. However, if there is a rejection from this resistance, expect the lower-low formation to continue.Zooming out, we can see our low is higher than the previous sell-off's low. The last time we see a higher low on a higher time frame, FTM went for a parabolic run. Will we see something similar again?A 4-hour close above $0.40 gives the bulls some confidence.
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