Tezos, ApeCoin & Solana — Asian Wrap 15 July

This Tezos fakeout could trigger a 30% rally for XTZ price

Tezos price consolidates between a horizontal high-time-frame resistance barrier and an inclining support level, forming a bullish pattern. The recent fakeout lured many investors to short, but the recovery suggests that XTZ is vying for a bullish move.

Tezos price flipped the $1.67 support level into a resistance barrier as it crashed 33% between June 12 and June 18. This move was followed by a set of higher lows and equal highs, which when connected using trend lines result in an ascending triangle.

ApeCoin Price will either rally to $6 or fall to $3 in July, here’s why

ApeCoin price has traded sideways since the middle of June. If the $4.00 barrier can hold as support, a rally targeting $6.00 could occur. A breach of the $4.00 could induce an additional 33% decking into $3.00

Apecoin price currently trades at $4.66 as the sideways congestion, which commenced on June 20, continues. APE price shows an anomalous volume spike on the 6-hour chart that traders should be aware of. If the newfound transaction is the catalyst before the bull run, there should be no retest of the $4.00 barrier. On the contrary, if the transactions came pouring on July 13, the bears will inevitably fall to $4.00 and induce a sell-off targeting the $3.00 zone.


Why the Solana price trajectory is still uncertain

Solana price currently trades at 36.76 as the bulls have produced a 17% rally since this week’s low at $31.82. Despite the optimism, the rally still stands within a congestion zone that began near the end of May.  

Solana price shows increased seller’s action on Volume Profile Indicator. Being an early buyer is risky as the bearish scenario still targets $10. Intraday traders should consider looking for better opportunities in the market as the coilingness of the SOL price will bring forth erratic and unpredictable movements.



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