Next key potential support zone to watch around $37,311 to $36,450, consisting of 21-month exponential moving average (ema), Aug. '21 month low, and 50% Fibonacci retracement, as seen in the enclosed chart.
Author
Bruce Powers, CMT
Markets Today
Bruce Powers, CMT, is a global markets technical analyst covering stocks, market indices, and ETFs, cryptocurrencies, Forex, oil and metals.
Ripple (XRP) is regaining momentum, trading above $1.10 at the time of writing on Monday. This modest rebound mirrors the broader recovery observed across the cryptocurrency market.
Bitcoin reclaims $64,000 on Friday, extending a modest recovery while holding firmly above the key technical support zone so far this week. Mixed spot Exchange Traded Funds (ETFs) flows through Thursday reflect cautious institutional positioning.
Pi Network tests $0.1000 on Friday, edging higher after six consecutive days of weakness. The technical outlook is bearish as intense sell-side momentum warns of a steeper correction despite mild intraday recovery.
Uniswap is up 3% on Friday, extending its rebound from the 50-day EMA at $3.08. Retail demand builds around Uniswap as Open Interest rises 5% in 24 hours, with a positive spike in the funding rate.
