Insights from the Market Desk by FenzoFx.com

[FxNews]

Solana's Bullish Momentum is on Hold




FenzoFx—Solana began consolidating from $121.8, which resulted in the price crossing above the $125.0 active support. As of this writing, SOLUSD has tested the broken resistance but needs to close above the previous high of $126.8 for the uptrend to resume.


In this scenario, the consolidation phase could target $130.7. Please note that the bullish outlook would be invalidated if Solana's price falls below the previous lower highs at $124.3, a support level backed by the SMA 50.

[FxNews]

Litecoin Rises to $87.0: New Higher Low Formation




FenzoFx—Litecoin rose from $87.0 and formed a new higher low slightly below the 50-period SMA, meaning the primary trend should be bearish. The immediate support is at $89.3. From a technical perspective, a new bearish wave can form if LTC closes and stabilizes below this support. In this scenario, bears could target $88.0, followed by $87.0.

Conversely, if bulls pull and stabilize the prices above $91.20 to form a new higher low, that would indicate a shift in the trend. If this scenario unfolds, LTC can potentially target $93.00.

[FxNews]

Ethereum






FenzoFx—Ethereum formed a head and shoulders pattern on the 1-hour chart, with immediate support at $1,885. The primary trend is bearish, as the price remains below the SMA. From a technical perspective, a close below $1,885 could trigger a new bearish wave, targeting $1,860 and subsequently $1,840.


The bearish outlook would be invalidated if the ETH price surpasses the $1,911 resistance level.

[FxNews]

USDHCF Downtrend Triggered with Stop at 0.8818 CHF





FenzoFx—USD/CHF created new lower lows below 0.880 CHF, which could potentially lead to further losses. The critical resistance level is 0.88180 CHF.

If this level holds, USD/CHF could target the 0.8768 support.

[FxNews]

Crude Oil Tests Key Resistance: $68.0




FenzoFx—Crude Oil traded bullish today, testing the $68.0 resistance. The 1-hour Awesome Oscillator and price above the 50-period SMA suggest the uptrend may resume.

A close above $68.0 could target $69.2, while a drop below $67.0 may lead to a bearish trend targeting $66.4.

[FxNews]

NATGAS Failed to Break above $4.20




FenzoFx—The natural gas prices failed to surpass $4.20. As a result, the trend returned bearish, testing the $3.99 support for the third time. This bearish push could lead to a break of the $3.99 support.

If this scenario unfolds, NATGAS will probably fall toward $3.815.

[FxNews]

USD/JPY: Bulls Fail to Drive Prices Higher




FenzoFx—USD/JPY has been creating higher-lows from 146.6 support, but the uptick in momentum eased at 149.2 resistance, and bulls failed to push the prices higher.

The immediate support is at 148.3. From a technical perspective, the downtrend will likely resume if bears close and stabilize below this support. In this scenario, the next bearish target could be 147.5, followed by 146.6.

Conversely, if bulls pull the prices above the immediate resistance, the 149.2 mark, the uptick in momentum can potentially extend to a higher level. If this scenario unfolds, USD/JPY could target 150.2, followed by 151.0.

[FxNews]

Bitcoin Trades Bearish Below $85,100.0




FenzoFx—Bitcoin remained below $85,100 and tested this area as resistance three times, resulting in a shift below $83,655.00. From a technical perspective, the BTC outlook remains bearish, below the critical resistance of $85,100. Below this resistance, the price can potentially fall toward $77,850.0 support.

Conversely, a close above $85,100.0 can trigger a new bullish wave, targeting $91,400.

[FxNews]

Litecoin is Bearish Below $94.2




FenzoFx—Litecoin trades sideways and couldn't surpass $94.2 resistance. If this level holds, LTC will likely dip toward $88.3.

[FxNews]

GBPUSD Trading Range, Awaiting a Breakout




FenzoFx—GBP/USD is trading within a range after nearing the $1.301 mark. At the time of writing, the pair is approximately $1.293, awaiting either a bullish or bearish breakout.

The primary trend remains bullish as long as the price stays above the $1.2865 support level. However, for the uptrend to resume, bulls need to achieve a close above $1.2945 and establish stability at this level. If successful, the uptrend is likely to continue, targeting the $1.301 resistance.

Conversely, if GBP/USD drops below the immediate support at $1.2915, the consolidation phase may extend towards the next support level at $1.2865.