VELO and ONDO Lead Crypto Market's Bullish Momentum, While Select Assets Face Headwinds

This week's bullish crypto assets include VELO (VELO) and Ondo (ONDO). VELO (VELO)'s positive trend has broken through resistance levels, indicating potential for further growth. Ondo (ONDO) remains above the EMA/200 line, signaling continued strength. Conversely, Augur v2 (REPv2), Cartesi (CTSI), Liquity (LQTY), Celsius (CEL), and Tellor (TRB) face bearish trends. Augur v2 (REPv2) requires support to avoid further decline, while Cartesi (CTSI) faces resistance, potentially leading to a bearish trend. Liquity (LQTY) and Celsius (CEL) are experiencing weakness, with the latter potentially facing volatility. Tellor (TRB) remains in a sideways zone, awaiting a breakout to determine its future direction.

Bullish Momentum Gathers Steam in Crypto Market, VELO and ONDO Lead the Charge

The cryptocurrency market is witnessing a surge of bullish sentiment this week, with VELO (VELO) and Ondo (ONDO) emerging as the standout performers.

VELO (VELO): A Bullish Breakout with Further Upside Potential

VELO's bullish trajectory continues unabated, with the price breaking through crucial resistance levels. The recent breakout from the 200-230 resistance zone has fueled optimism, paving the way for further price appreciation. The dynamic momentum behind VELO is evident, suggesting that the bullish trend is likely to persist.

Ondo (ONDO): Maintaining Strength Above Key EMA/200 Level

Despite experiencing temporary price dips, Ondo has managed to remain firmly entrenched above the EMA/200 line. This unwavering support has allowed the price to rebound and is poised for a breakout from the resistance area of 15,300-16,800. A successful breach of this resistance zone is anticipated to further strengthen the bullish momentum.

Wrapped Bitcoin (WBTC): Testing Support Levels

Wrapped Bitcoin has faced some weakness, with the price testing the support area of 950,000,000-1,000,000,000. If this support level fails to hold, it could trigger a further decline, allowing WBTC to fall below its WMA/85 indicator. However, the support area is expected to provide a strong foundation and prevent a significant drop.

Ravencoin (RVN): Matching All-Time Highs, Poised for Further Gains

Ravencoin has reached its highest price point since September 2022, touching the 980 level. Maintaining a presence above the 1,000-1,100 area will continue to drive Ravencoin's upward trajectory. This consolidation above key resistance levels bodes well for the continuation of the bullish trend.

Bitcoin Cash (BCH): Resilience Above WMA/75 Despite Weakness

Bitcoin Cash has faced bearish pressure, evidenced by the negative crossover in the MACD indicator. However, BCH has managed to stay afloat above WMA/75, indicating its resilience. A test of the support level of 7,000,000-7,500,000 looms on the horizon. If this support level fails, it could lead to a correction and further price declines.

Bearish Headwinds Threaten Select Crypto Assets

While bullish momentum dominates the crypto market, a few assets have encountered bearish headwinds.

Augur v2 (REPv2): Support Level at Risk

Augur v2's support area of 6,400-8,000 faces imminent risk. A breakdown of this support could accelerate the bearish trend and trigger further price declines. Augur v2 needs to defend this support level to prevent a downward spiral.

Cartesi (CTSI): Resistance Barrier Halts Upward Momentum

Cartesi has encountered a formidable resistance level at 6,800-7,200, effectively halting its upward momentum. Failure to overcome this resistance has pushed Cartesi into a bearish trend. The bearish pressure will intensify if the price falls below the 4,500-6,000 level.

Liquity (LQTY): Bearish Trend Despite Price Recovery

Despite a recent price recovery, Liquity remains under the clutches of a bearish trend. The MACD indicator suggests a positive trajectory, but the price remains range-bound within the 18,000-20,000 area. A breakout from this range is essential for Liquity to break free from the bearish trend.

Celsius (CEL): Price Penetration Signals Bearish Shift

Celsius has shifted from a bullish to a bearish trend after the critical support level of 3,300-4,000 was breached. The penetration of the 3,000-3,200 level could further accelerate the bearish momentum. Celsius needs to regain its footing above these support levels to reverse the current trend.

Tellor (TRB): Sideways Movement Persists, Awaiting Breakout

Tellor remains in a sideways consolidation zone, with a price range of 740,000-1,050,000. A breakout from either end of this range will determine the next price direction. Tellor needs to establish a clear trend to emerge from its current indecisiveness.

Disclaimer:

All information provided in this report, including analysis, predictions, and graphics, is solely for informational purposes and should not be construed as investment advice. Crypto asset trading involves significant risk, and all investment decisions are the sole responsibility of the individual trader.