Insights from the Market Desk by FenzoFx.com

[FxNews]

Bitcoin Tests $87,520 Resistance Amid Overbought Signals





FenzoFx—Bitcoin is testing the $87,520.00 resistance in today's trading session, while the Stochastic Oscillator hovers in overbought territory. The primary trend should be considered bullish, as BTC is trading above the 50-period simple moving average. Therefore, the uptrend could resume and target $94,860.00 if the bulls push the price above the immediate resistance.


A break below the ascending trendline or the 50-SMA would invalidate the bullish outlook.

[FxNews]

March Lows Fuel NATGAS Bullish Push




FenzoFx—Natural Gas tested the $3.94 resistance after it bounced from March 3 lows. If NATGAS stabilizes above the resistance, the next bullish target could be $4.030.

Conversely, a close below $3.895 will invalidate the bullish outlook, with the next target at $3.81.

[FxNews]

EUR/JPY Formed a New Higher-Highs





FenzoFx—EURJPY formed new higher highs at 162.32, indicating the uptrend can potentially resume. However, we require confirmation that this is not a fake bullish break-out. Therefore, a close above the previous higher high at 162.3 can trigger the bulls, targeting 162.62.


Conversely, a break below 162.0 could trigger a bearish move, pushing the pair toward 161.6.

[FxNews]

EUR/USD: Bullish Continuation Hinges on $1.0826





FenzoFx—EUR/USD is currently testing the $1.0826 support level, having recently broken through a previous resistance area. The higher time frame indicates that the primary trend remains bullish. If the pair stabilizes above $1.0826, the uptrend is likely to resume, with a target of $1.0861.

In the bullish scenario, immediate resistance rests at $1.083. A close above this level could trigger a new bullish wave. However, the bullish scenario will be invalidated if EUR/USD falls below $1.0814.

[FxNews]

NATGAS

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FenzoFx—Natural Gas formed lower lows in lower time frames after failing to surpass $4.235. The next bearish target could be testing the $4.145 support.

[FxNews]

Bitcoin Targets $91,400 After Key Breakout




FenzoFx—Bitcoin broke above the $85,100 resistance and is testing this area as support. The 50-SMA serves as the primary support for bullish BTC.


If the price stays above it, the next target could be $91,400.

[FxNews]

NATGAS in the Verge of a Breakout




FenzoFx—NATGAS has been forming higher highs and lower lows after testing the $3.990 support. As of this writing, Natural Gas trades at approximately $4.148, slightly above the critical resistance level.


From a technical perspective, the current bullish momentum could lead the prices to target $4.220 if they surpass the recent higher highs at the $4.145 mark. Please note that the uptrend requires confirmation, which is the price closing above the previous high on the 5-minute chart.


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[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.