Buy the dip, Bull Market is here! Weekly Market Analysis
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For this week, we bring you the analysis of
Bitcoin
Ethereum
AAVE
LDO
MKR
🪙 BTC
Bitcoin (BTC) has been consolidating within a range for an extended period. Short-term support is identified at 34.8-35.1, while a robust long-term weekly support zone exists at 31k-31.6k.
With only 2 days remaining in November, December presents an opportune time for potential buying.
🔷ETH
Ethereum (ETH) is exhibiting the formation of an ascending triangle on the weekly timeframe, suggesting significant upside potential upon a successful breakout. However, there are indications of a possible retracement in the short term before an upward move.
AAVE
AAVE, a prominent project in decentralized finance (DeFi), has undergone a 539-day consolidation. There is considerable room for upside potential once it breaks resistance and establishes support in the 121-111 range. On the daily chart, the 84-86.46 zone is identified as a favorable buying opportunity.
LDO
LDO is considered a gem coin, having faced rejection from resistance. An attractive buying opportunity arises if the coin reaches the 2.0-2.061 range. Anticipated to form a cup and handle pattern, a successful breakout could lead to significant upward movement.
MKR
The price of Maker (MKR) has been trading within the range of 1295-1650. Key support is observed between 1221-1299, while resistance is noted at 1595-1687. In shorter timeframes, diagonal support has proven to be resilient.