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Tag: confirmation
BTC Eyes $96.8K, Breakout or Bull Trap?
The post BTC Eyes $96. 8K, Breakout or Bull Trap? appeared com. Key Insights: $96. 8K is the key level-breakout targets $100K, rejection opens downside risk again. Relief bounce is building but needs strong follow-through to confirm any trend shift. Weekly RSI divergence hints at momentum shift, but confirmation depends on price strength. BTC Eyes $96. 8K, Breakout or Bull Trap? Weekend Levels to Watch Bitcoin was trading just above $96, 400, showing limited movement ahead of a key level at $96, 830. This resistance has now become the main short-term focus for traders looking to confirm the next move. Price has rebounded slightly in the last 24 hours, up 0. 60%, while still down nearly 6% over the past week. Market watcher LennaertSnyder pointed out that he’s monitoring this level closely. “Key resistance is still at ~$96, 830,” he noted. A break above it could open the door toward the $100K-$101K area. On the other hand, a quick rejection after testing it might invite short setups. Both directions remain possible, depending on how price reacts near this zone. Relief Bounce Develops on Lower Timeframes On the 1-hour chart, Bitcoin has been climbing slowly off a recent low near $94,400. Short-term momentum has improved, with a series of higher lows forming as price presses toward $96, 400. A recovery is in motion, but confirmation requires more strength. Trader ElonTrades summed up the setup simply: “TC relief bounce incoming.” Volume has risen slightly, and RSI is pushing toward neutral levels. A break above local moving averages could give bulls a bit more room to push higher-at least for now. Weekly Chart Shows Divergence Between Price and RSI On the weekly timeframe, Bitcoin’s price was holding a higher low, while the RSI indicator moved to a lower low near 40. This type of divergence often signals a pause or reversal, especially when visible on higher timeframes. KarmanAsgar wrote, “BULLISH DIVERGENCE ALERT.
1inch Price Surges 19% on Strong Breakout, What’s Coming Next?
The post 1inch Price Surges 19% on Strong Breakout, What’s Coming Next? appeared com. The post 1inch Price Surges 19% on Strong Breakout, What’s Coming Next? appeared first 46% price jump in just 24 hours, building on a steady 4% gain from last week. What sparked this move? A strategic inflow of 5 million USDC into Binance stirred a near 29% intraday price surge. Coupled with a security upgrade featuring AI-powered threat detection, the token gained the confidence of traders. But most notably, 1inch cleared key moving averages, signaling a technical breakout that fueled buyer conviction. Wondering what’s in store? Join me as I explore potential price targets in this price analysis. Active Addresses Go Steady? The active address count for 1inch has held relatively steady despite recent price volatility. Data from CryptoQuant shows a baseline of around 551 active addresses daily, with no dramatic spikes or drops correlating directly with price swings. This suggests cautious but consistent network engagement. Even as the 1inch price surged, the user activity stayed stable, reflecting a loyal holder base and steady participation in the ecosystem. Stable active addresses provide a healthy foundation for sustained trading volume and momentum growth. 1Inch Network Price Analysis On a technical front, the 1inch price recently broke above its 7-day SMA at $0. 165 and remained optimistic above this level. The RSI on a 7-period chart sits at 63. 15, indicating a healthy neutral-to-bullish sentiment without entering overbought territory. Volume exploded, surging 542% to reach $168 million, confirming strong buyer interest and momentum behind the price move. The breakout also invalidated a descending channel that formed throughout October, signaling a reversal in the prior downtrend. However, resistance looms near the 30-day Simple Moving Average at $0. 184. The MACD histogram is positive, suggesting upward momentum, though a sustained close above this key resistance near.