Insights from the Market Desk by FenzoFx.com

[FxNews]

LTC Faced Resistance: What's Coming is Interesting





FenzoFx—Litecoin faced resistance at $93.55 and has started consolidating below this level. Despite the pullback, the market remains bullish, with the price holding above the VWAP and 50-SMA.

Support is at $91.20, and resistance remains at $93.55. A sustained move above support could push the price toward $96.60.


Bearish Scenario: If Litecoin drops and stabilizes below $91.20, momentum may weaken further, targeting the next support at $89.30.

[FxNews]

Gold Price Drops: A Great Buying Opportunity




FenzoFx—Gold formed a new bearish wave after the price dipped below $3,360. As of this writing, XAU/USD is testing the $3,323 support, which could potentially offer a favorable entry point into the bull market.

The price will likely rise toward $3,360 if this level holds. Please note that the market outlook remains bullish as long as the price stays above the $3,323 support.

[FxNews]

Bitcoin is Overbought, but $100,000 Target is Still at Hand





FenzoFx—Bitcoin is overbought at \$97,000, a signal indicated by the Stochastic Oscillator. The price is expected to consolidate before the uptrend resumes. In this scenario, a dip toward \$93,565 may provide a favorable entry point into the bull market.

Watch this level, followed by \$91,720, for bullish signals such as candlestick patterns.

[FxNews]

Litecoin Consolidates: Wait for This Before Buying





FenzoFx—Litecoin surged from $80.0 as anticipated. A candlestick pattern signaled this move yesterday morning. Although the bullish wave broke above the $91.9 resistance, the uptrend has since paused. Currently, the price trades slightly below this level, consolidating gains.

In swing trading, the key rule is to buy at the dip and sell at the high. Thus, we are not entering at this stage. Notably, the LTC/USD 1-hour chart shows a long-wick bearish candlestick, confirmed by another bearish close, with a decline in volume.

The trend stays bullish above the 50-period simple moving average. With immediate resistance at $93.65, the bearish momentum may test the previous day's high at $89.5. If this support holds, the uptrend could resume toward the $96.7 target.

[FxNews]

Litecoin Invites Buyers





FenzoFx — Litecoin has extended its decline from $89.5 to a key support at $81.5, the April 30 low. Strong selling pressure pushed the Stochastic Oscillator below 20, signaling oversold conditions. Support at $80.8 could pause the downtrend, potentially leading to a rebound toward $85.5.


Bearish Scenario: If LTC/USD closes below $80.80, the decline may continue toward $79.80.

[FxNews]

Ripple (XRP) Technical Analysis




FenzoFx—Ripple (XRP) remains in a bear market, though the downtrend slowed after dipping to $2.127. XRP is currently trading around $2.176, testing this level as resistance.


The bearish scenario: If XRP/USD breaks above $2.176, the next bullish target is $2.2200. Conversely, a drop below $2.127 could resume the downtrend, with $2.068 as the next support level.

[FxNews]

Bitcoin Technical Analysis




FenzoFx— Bitcoin began consolidating after peaking at $98,000, dipping toward the $93,565 support and now trading slightly above it. The Stochastic Oscillator sits below 25, suggesting BTC is oversold and may rebound.

Immediate support lies at $92,565. If this level holds, the uptrend could resume, targeting $98,000, with potential to push toward the $99,560 resistance if buying pressure increases.


Bearish Scenario: A drop below $91,720 would invalidate the bullish outlook, potentially extending the decline to $88,830.

[FxNews]

LTC Holds Key Support, Eyes Resistance




FenzoFx—Litecoin bounced from the $81.80 support level and is currently trading around $84.60, just below the 50-period simple moving average. As long as LTC stays above $81.80, the outlook remains bullish, with potential to retest the $88.50 resistance.


A drop below $81.80 would invalidate the bullish view and could trigger a move toward the $77.40 support.

[FxNews]

Ethereum Consolidates Near the 50-SMA





FenzoFx—Ethereum remains in a bull market above the 50-period simple moving average, though momentum slowed after testing resistance at $1,857.0. At the time of writing, it trades around $1,812.0, consolidating near the 50-SMA. As long as the price stays above $1,690, the outlook remains bullish. A close above $1,857.0 could push ETH/USD toward the next resistance at $1,957.0.


Bearish Scenario: A break below $1,690.0 would invalidate the bullish outlook and could trigger a drop toward $1,538.0.

[FxNews]

Bullish Bitcoin Find Resistance




FenzoFx—Bitcoin remains bullish above the 50-period simple moving average but lost momentum near the $95,995 resistance. It currently trades around $94,650. A breakout above $95,995 could trigger a move toward $99,560. Conversely, a close below $92,875 may lead to a drop toward $91,720, with further downside potential to $88,830 if selling pressure intensifies.


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