J.J. Edwards’ Market Analysis at FenzoFx

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Solana: Bears are in Full Control​

FenzoFx—Solana is up by 3.30% today, after the sharp decline on November 25. The daily candle of this date is a bearish engulfing, meaning the sellers are in control of the $171.70. This level has the highest volume spike level as shown on the chart.

The immediate resistance is at $171.70. From a technical perspective, the downtrend will likely resume if the price holds below this level. In this scenario, the next bearish target could be the sell-side liquidity at $137.60, followed by $126.00.

 

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Gold Confirmed Bullish Bias​

FenzoFx—Gold is bullish again, confirmed by engulfing above the $4,175.00 resistance. As of this writing, XAU/USD trades inside the bearish fair value gap, testing the $4,230.00 resistance.

Last day, Gold did not dip below $4,103.00 (the bullish FVG) for liquidity. This indicates a strong bullish market. However, going long at the current price is risky because the price has surged already. The ideal level for joining the bull market would be around $4,146.00, which is in conjunction with daily highs and the October 23 and 24 close. This area should provide decent support for Gold.

In the bullish scenario, we expect Gold to form a double top at all-time highs by targeting $4,398.00.

 

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XRP: Accumulation Zone Supports Short-Term Upside​

FenzoFx—XRP (Ripple) is under selling pressure, down 0.50% today, trading near $2.309. The daily chart shows accumulation, suggesting sideways momentum may continue. Open interest supports this phase, with strong support between $2.072 and $2.223.

XRP could rise slightly, potentially revisiting $2.456. If resistance at $2.456 holds, a bearish wave may follow, targeting $2.072. Continued selling pressure could push the price toward the liquidity void at $1.922.

 

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Bitcoin: Liquidity Void Signals Potential Decline​

FenzoFx—Bitcoin dipped below $99,000.00 as expected and now trades near $95,630.00. Friday’s selloff created a bearish fair value gap, viewed as a liquidity void.

Technically, price is expected to revisit resistance between $96,700.00 and $99,000.00. If the gap remains partially unfilled, especially in its upper half, further downside is likely. In this scenario, Bitcoin’s next bearish target could be $90,000.00. The bearish outlook remains valid while price stays below $108,800.00.

 

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Bitcoin Cash Tests Fragile Support​

FenzoFx—Bitcoin Cash is in a bear market, down 6.50% since yesterday, now trading near $490.20. BCH is still holding above the ascending trendline, but this support has been tested five times, making it fragile.

Technically, further downside is expected. A break below $469.10 could trigger a deeper decline toward $437.60. If selling pressure continues, $421.80 may be targeted. The bearish outlook remains intact while the price stays below the key resistance at $541.30.

 

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Ethereum Accumulates Below Key Resistance​

FenzoFx—Ethereum remains bearish, trading near $3,078.00. Price is below $3,170.00, with a bearish fair value gap overhead and resistance at $3,371.00. Technical indicators show an oversold market with bullish divergence, and candlestick patterns suggest accumulation around this zone.

Despite the bearish setup, a short-term rise may occur to grab liquidity before the downtrend resumes. In this case, Ethereum could target the bearish gap and resistance at $3,371.00.

 

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Litecoin Slides Toward Key Support Levels​

FenzoFx—Litecoin remains in a bear market, down 2.00% today and trading near $93.00 within the bullish fair value gap. Key support lies at $89.30. A break below this level could accelerate the downtrend, potentially driving the price toward $78.60.

If selling pressure continues, the next support zone is $71.70, aligned with the lower band of the bearish channel.

 

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XRP Eyes Rebound Amid Bearish Pressure​

FenzoFx— Technical indicators show oversold conditions and bullish divergence in momentum. As a result, we expect a potential rebound toward higher resistance levels before the broader downtrend resumes. In this scenario, XRP could rise toward $2.2230, then pull back to $1.9220, with major sell-side liquidity resting at $1.7710.

 

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Gold Faces Breakdown Risk Below $4,030​

FenzoFx—Gold began its downtrend after it failed to close above the bearish fair value gap with resistance at $4,235.00. Currently, the price lingers inside the bullish fair value gap with support at $4,030.00.

From a technical perspective, if on the daily chart the price closes below $4,030.00, we can expect the sell-off to resume. In this scenario, the equal lows at $3,930.00 will likely be the next target. Since this zone is a double bottom, in case of a breakdown, the bearish momentum will be boosted, which could drive the price to the next order block at $3,752.00.

 

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Bitcoin Consolidates Within April Gap​

FenzoFx—Bitcoin formed a swing low at $80,5200.00 and is currently trading inside the April fair value gap. The primary trend remains bearish since BTC has not made a higher high or significant swing high. This suggests potential downside toward the major support at $73,700.00.

However, consolidation inside the fair value gap is expected, with selling pressure easing until Wednesday. In this scenario, BTC/USD could rise toward $92,200.00. Failure to close above this level in the short term would likely resume the downtrend, targeting $73,700.00.