J.J. Edwards’ Market Analysis at FenzoFx

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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.

 

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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.

 

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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.

 

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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.

 

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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.

 

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Ethereum Suffers from Lack of Momentum​

FenzoFx—Ethereum is trading sideways around $1,800 in a low-momentum market. The price is retreating from the $1,782 support, aligning with yesterday's low. It remains below the 50-period simple moving average, confirming a bearish trend, while volume indicators also point downward.

The bullish scenario: If the price breaks below $1,782, the next target could be the $1,756 demand zone. On the bullish side, a move above the $1,834 resistance—yesterday’s high—could pave the way for a rise toward $1,850.

 

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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.

 

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What is Next for EUR/USD?​

FenzoFx—EUR/USD formed a hammer candlestick pattern during the London session, above the 50-period simple moving average. The critical support level that stands between the bull and the bear market rests at $1.1327.

The bullish trend is likely to resume if the price remains above the support level. In this scenario, the next target could be the previous day's high at $1.1380, followed by $1.1450.

 

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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.

 

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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.

 

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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.

 

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Solana Found Support at $169.0​

FenzoFx—Solana found support at $169.0, consolidating after its recent gains on Friday. The primary trend remains bullish above this level. Furthermore, the uptrend will likely resume if the price exceeds the immediate resistance level at $179.5. In this scenario, the next bullish target could be the $200.0 psychological level.

Please note that the bullish outlook should be invalidated if SOL/USD dips below $169.0.

 

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GBP/USD is Bearish: What's the Next Target?​

FenzoFx—The GBP/USD currency pair broke below the $1.3202 support level in today's London session. The primary trend should be considered bearish as the price remains below the 50-period simple moving average.

The immediate resistance level is at $1.3260. The bearish outlook remains valid as long as the pair stays below this ceiling. In this scenario, the next bearish target could be $1.3124.

 

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Crude Oil Technical Analysis​

FenzoFx—Crude oil has begun consolidating around $63.5, a resistance level aligned with the 78.6% Fibonacci retracement. Selling pressure has resulted in a long-wicked bearish candlestick pattern at this level.

The primary support level stands at $61.45. A break below this threshold could trigger a new bearish wave, potentially driving the price toward the $60.20 support, reinforced by the 50-period simple moving average.

However, the primary trend remains bullish as long as the price holds above the $60.20 support.

 

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LTC/USD Tests Critical Resistance Level​

FenzoFx—Litecoin is testing the supply zone, highlighted in the 1-hour chart. The primary trend is bullish, as the price is above the 50-period simple moving average.

However, the price action techniques show that sellers exist in the resistance area, which expands from \$105.0 to \$107.0. Therefore, going long is risky at this price, since it is expensive.

That said, if the immediate resistance at \$107.0 holds, LTC/USD will likely dip toward \$100.0, aligning with yesterday's low.

 

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Solana is Bullish: Wait for Price to Find Support Before Buying​

FenzoFx—Solana trades in a bullish market above the 50-period simple moving average. However, the recent buying pressure caused the Stochastic Oscillator to enter the overbought area, indicating market saturation. Consequently, the uptrend eased at 184.9.

The immediate support rests at the 50% Fibonacci retracement level, approximately 175.5, backed by the 50-SMA. That said, the immediate resistance is at 184.9.

From a technical perspective, the price is expected to dip toward the Fibonacci retracement level before the uptrend resumes. This level may provide a discounted entry point. Therefore, traders should monitor the 175.5 demand zone for bullish signals, such as candlestick patterns.

Please note that the bullish outlook would be invalidated if SOL/USD dips and stabilizes below \$175.5.

 

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Bitcoin Will Like Decline: Institutional Traders are Selling​

FenzoFx—Bitcoin is overbought, as indicated by the Stochastic Oscillator. Meanwhile, 52 percent of institutional traders are holding sell positions. If resistance between $106,000 and $109,000 holds, the price may drop toward $96,000.

 

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Ethereum Technical Analysis​

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FenzoFx—Ethereum is trading bearishly, having broken below the 50-SMA. Currently, 96.0% of hedge funders are short, while 52.0 percent of institutional traders were long at the beginning of the week.

If ETHUSD remains under the 50-period moving average, the downtrend may persist, with a potential dip toward the 2,420-dollar support. Retail traders should watch for bullish signals, such as a candlestick pattern, near this level.