The market continues to print lower lows after losing its range support. Is there any hope of a local bottom to form soon? 🤔 Let's find out! Author: youngcryptowolf Editor: YousraAASheikh BTC ETH NEAR SOL ADA FTM
, let’s take a look at big players: BTC, ETH, NEAR, SOL, ADA, AVAX, and FTM in the 4-hour time frame to analyze the possible future price actions.BTC continues to create lower lows since losing its major support mentioned in. It is now sitting on its previous all-time high as support. A new June low has been printed and BTC has entered a new range. The bulls have some work to do and it will not be easy. At the time of writing, there are no major signs of a reversal.
Shifting towards our most recent price action, we can see ETH bulls have to make some efforts to revisit the 2018 all-time high.ETH bulls need to build support above $1,000 to set up for this next drive. Shifting towards our most recent price action, we can see NEAR has entered a new price range. There is resistance at $3.30 and support at $2.70. Something to look out for is to see if this structure will hold. If bulls or bears step in, things can change quickly.If there is a 4-hour close above our area of interest, we can expect to see a push towards its previous channel. However, if there is a rejection from the $3.40 zone, the sell-off will continue.
If there is a 4-hour close above $16, we can expect the bulls to take over. However, if there is a rejection from this level, expect the lower highs and lower lows to continue.At the time of writing, FTM is looking to establish a higher low. However, there is no confirmation just yet.A 4-hour close above our area of interest will assist the price to go towards $0.30.
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