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Solana is creating a symmetric triangle in 1D timeframe. There is a potential breakout brewing at this levels. If the price closes above $186, we can confirm a breakout to $190 followed by a minor retest.

The well anticipated launch of the Ethereum (ETH) spot ETFs in the U.S. has not yet led to a significant price increase for ETH, and in fact the price has declined since the ETFs were approved and launched.What’s happening with Ethereum? - A Technical AnalysisBefore discussing about the major factors that triggered the bearish downturn, it is important to analyse the technical aspects and price action of Ethereum.After reaching a 2024 all-time high (ATH) of $4093.92, ETH experienced a bearish divergence. This was followed by the formation of a falling wedge pattern, which broke out following news of a potential ETH ETF approval.Despite attempting to retest the aforementioned ATH, ETH fell, forming a parallel regression channel. It briefly broke below the 200-day EMA support level, raising concerns. However, ETH quickly recovered and is currently retesting the 200-day EMA support, showing signs of a bounce back. If this support level fails, ETH may revisit its major demand zone between $2844 and $2923.Traditional indicators show mixed signals. The MACD is turning bearish, while the RSI remains neutral. The near-term trend will likely depend on market sentiment related to the potential ETH ETF inflow/outflow. If ETH holds the support levels, a bullish divergence could be on the horizonNow let us examine the major events that triggered the correction of Ethereum:Sell-the-News EventThe approval and launch of the ETFs may have triggered a classic "sell-the-news" event, where investors sell their ETH holdings to lock in profits after the long-anticipated approval. With the ETH reaching $3,500 in July, some investors likely wanted to capitalize on the euphoria around the ETF launch by selling. We saw a huge momentum candle before the ETH ETF news came out. The lowered impact on the pricesOutflows from Grayscale Ethereum TrustThe Grayscale Ethereum Trust (ETHE) experienced large outflows of $484 million on the first day of ETF trading, as investors redeemed their ETHE shares. This selling pressure may have offset the buying demand from the new ETFs.Liquidation of Long PositionsOver $94 million in long ETH positions were liquidated in the 24 hours after the ETFs launched, indicating traders who were betting on an ETH price increase got squeezed out. This likely exacerbated the selling pressure.Broader Market DownturnThe decline in ETH price coincided with a broader downturn in the crypto and US- European stock markets, with Bitcoin dropping 2.5% and the Nasdaq having its worst day since late 2022. This suggests macroeconomic factors were also weighing on ETH.Delayed InflowsWhile the ETFs attracted $107 million in net inflows on launch day, this was only 16% of the $655 million Bitcoin ETFs attracted on their first day. The full impact of ETF inflows may take more time to materialize.Stagnant FundamentalsSome analysts argue Ethereum's fundamentals have been stagnant or declining, making it more vulnerable to selling pressure compared to Bitcoin The ongoing Mt. Gox repayments and distributions may also be weighing on the market.In summary, the combination of a "sell-the-news" event, outflows from ETHE, liquidations, macroeconomic factors, and delayed inflows likely all contributed to the decline in ETH price despite the successful ETF launches. However, analysts remain optimistic that ETH will resume its upward trend in the coming weeks.

Bitcoin halving is a critical event in the cryptocurrency ecosystem, occurring approximately every four years, or every 210,000 blocks mined. This event reduces the reward that miners receive for validating transactions on the Bitcoin network, effectively controlling the supply of new bitcoins and influencing market dynamics.Historical Overview of Bitcoin Halvings1. Genesis Block (January 3, 2009): The Bitcoin network was launched when Satoshi Nakamoto mined the first block, known as the Genesis Block, receiving a reward of 50 BTC.2. First Halving (November 28, 2012): The first halving occurred at block 210,000, reducing the block reward from 50 BTC to 25 BTC. This event marked the beginning of the halving cycle, which is designed to occur every four years. 3. Second Halving (July 9, 2016): The reward was halved again to 12.5 BTC at block 420,000. This halving contributed to a significant price increase in the following months.4. Third Halving (May 11, 2020): The block reward decreased to 6.25 BTC at block 630,000. The price of Bitcoin surged in the months leading up to and following this halving, reaching new all-time highs.5. Fourth Halving (Expected April 2024): The next halving is anticipated to occur around April 20, 2024, at block 840,000, reducing the reward to 3.125 BTC. This event is expected to have significant implications for the market, particularly given the recent surge in Bitcoin's price due to institutional investments and the introduction of Bitcoin ETFs, which saw prices reach an all-time high of approximately $73,738 in March 2023.Economic Implications of HalvingEach halving event historically leads to increased prices as the supply of new bitcoins decreases while demand may remain steady or increase. This supply-demand dynamic is crucial for traders and investors, as halvings have often preceded significant price rallies. However, analysts caution that market conditions can vary, and the impact of the 2024 halving may differ due to various factors, including the current market environment and the rising costs of mining.Future OutlookLooking ahead, the fifth halving is projected for 2028, which will further reduce the block reward to 1.5625 BTC. The ongoing halving events are integral to Bitcoin's monetary policy, aiming to ensure that the total supply remains capped at 21 million coins, thus influencing its value as a digital asset and store of value over time.

In the past week, SOLUSDT has demonstrated impressive performance, yielding returns of 16.2%. This performance stands out even among the top market-cap giants. The market sentiment towards Solana and its associated tokens, including SOL-based meme coins, remains highly bullish. This bullish sentiment has propelled the prices of key Solana ecosystem coins like Jupiter, Radium, and Ponke.On the technical front, SOL has been forming a large symmetrical triangle on the daily timeframe. Within this pattern, a double bottom formation has emerged, signaling a bullish breakout. As expected, SOL experienced a substantial rally, climbing from $135 to $185. After retesting $172, SOL is now challenging the $185 level once again. The next significant target is $200, with potential to revisit this year's all-time high of $210.Further analysis reveals that the daily MACD (levels 12, 26) is turning bullish, currently valued at 8.50. The RSI stands at 65.71, indicating there is still room for upward movement. Additionally, Solana has respected the 200 EMA, providing further hope for continued bullish momentum. These major indicators suggest a continued bullish momentum, reinforcing the potential for further gains in the near term.

Toncoin (TON), has seen remarkable price appreciation from February to July 2024. The TON token price surged from $2.2052 on February 15, 2024, to an all-time high of $8.2889, representing a 375.8% increase. By February 28, 2024, the rally had started, creating significant higher highs and lower lows.The price appreciation can be attributed to several factors, including the growing adoption and usage of the TON network, the successful launch of the Open League incentives program, and the integration with Telegram's large user base. Additionally, the partnership with Tether to release $60 million of USDT on the TON blockchain has further bolstered the network's credibility and utility. In February, Telegram announced ad revenue sharing, which splits profits 50/50 with channel owners. Most importantly, the revenue is paid out in TON’s native token, Toncoin, and facilitated through the network, further increasing the trading volume.On the one-day timeframe, TON is forming a rising wedge, which is a sign of a potential bearish reversal. Although there is room for hitting a new all-time high (ATH), we can expect TON to break down from the wedge if no other external factors are involved.Examining the oscillators in the same timeframe, the Relative Strength Index (RSI) stands at 50.5635, forecasting a neutral sign. However, the MACD level (12, 26) stands at 0.0150, signaling a bearish shade. Moving averages, both SMA and EMA on larger periods, indicate a bullish trend, while the lower periods indicate bearish signals.As we anticipated, TON had a breakdown from the rising wedge and is now trading at $6.7607.TON is likely to take support from this range and the next support levels are $6.2, $5.6 & $4.6

AGIX has emerged as the top gainer of the week with a remarkable 27% surge following the announcement of the merger date for FET, AGIX, and OCEAN into the ASI token. AGIX experienced a significant correction, dropping to $0.4702 on June 18, which coincided with its demand zone. However, the price quickly rebounded after the merger news. AGIX is showing bullish momentum with strong candles leading the AI sector. The next resistance levels to watch are $0.9025 and $1.0920. On the daily and weekly timeframes, the oscillators are neutral. Moving averages indicate a bullish trend on the daily timeframe, but on the weekly timeframe, both oscillators and moving averages are neutral. While technical indicators provide insights, the imminent release of ASI tokens in a few weeks suggests focusing more on the merger news and its impact.

Wormhole (WUSDT ) has corrected around 34% over the past week, making it the top loser. Wormhole is a leading interoperability platform that supports multichain applications and bridges at scale.As a newly listed coin, there isn't enough price action to analyze from the chart. The $0.778 level is a crucial resistance where Wormhole has faced rejections. The bearish market conditions have pushed Wormhole into a downward trajectory, reaching a low of $0.366. Currently, Wormhole is trying to establish resistance at this level, but if the bearish trend continues, further declines are likely.On the daily time frame, oscillators show a neutral signal, while the moving average indicates a strong sell. In the weekly time frame, oscillators are very bullish, but the moving averages continue to suggest a strong sell.

ENSUSDT or Ethereium Naming Service is a distributed, open, and extensible naming system based on the Ethereum blockchain. ENS is top gainer of the week with 10.44% up. The market was heavily bearish due to the BTC ETF outflows and despite of these, ENS managed to survive the wind. Earlier this month ENS approached near the $30 price mark which was the ATH of 2024 and faced a price orrection up to $19. Then ENS moved to $24.61 and is now forming a tiny cup and handle pattern. If ETH spot ETF trade commence news comes, we can see a breakout to the $30 and beyond. The moving averages and oscillators are giving a neutral signal in daily time frame, but for weekly time frame, both are giving strong buy signals.

Render Token ($BINANCE:RNDRUSDT) is the native cryptocurrency of the Render Network, a decentralized platform offering distributed graphics processing and rendering services. It allows artists and content creators to exchange GPU compute power with node operators, facilitating the creation of high-definition graphics and visual effects. With a circulating supply of 388,646,672 and an all-time high (ATH) of $13.60, RNDR has positioned itself as a prominent AI crypto asset with strong potential for future gains.Technically speaking, $CRYPTOCAP:RNDR is currently forming a large symmetrical triangle on the daily chart. The token experienced a significant correction from its ATH of $13.80 down to $6.24. Following this dip, RNDR rallied to $11.65, then consolidated, forming the symmetrical triangle pattern. The $6-$8 price range is identified as a strong buying opportunity, with the next major resistance around the $10-$11 range. Breaking this resistance could lead to a rally up to $14, creating a new ATH.Analyzing the indicators, daily oscillators remain neutral, while daily moving averages signal a strong sell. However, on the weekly timeframe, oscillators stay neutral, and moving averages show a buy signal. This mixed signal suggests a cautious yet opportunistic approach.Overall, $CRYPTOCAP:RNDR is a valuable addition to any portfolio. Given the favorable buying range, investors should consider accumulating RNDR. Monitoring the resistance levels and potential breakout points will be crucial for optimizing entry and exit strategies.

The market is highly volatile amid the release of US CPI and PPI data. Although this has significantly impacted BTC's price action, BTC is still respecting its key levels. Yesterday, BTC broke $67,000, causing panic among investors. Currently, BTC has recovered and rebounded, creating interim support above that zone. If the CPI and PPI data are unfavorable and BTC breaks and closes below $67,000 again, we may see BTC plummeting to $63,000 levels.BTC is experiencing a strong bullish trend. In the one-day time frame, it has formed a large ascending triangle. If there is a breakout and closure above $74,000, we could see a rally up to $85,000 soon.In the one-day time frame, oscillators are giving neutral signals, while the moving averages indicate a bearish stance. However, in the weekly time frame, the moving averages are extremely bullish due to recent rallies. The oscillators are neutral to bearish, mainly because of the MACD Level (12, 26) and Momentum (10) indicators.We are still in the triangle and we are safe :)