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Tech Stocks Soar while Energy Sector Struggles: Mixed Trends in Today’s Market Watch

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“While some industries are experiencing unprecedented growth, others are facing significant challenges, reflecting the mixed trends in today’s market watch.”



Ethereum Price Prediction:

Ethereum, one of the most widely-tracked cryptocurrencies, has experienced a slight dip of 0.58% over the past 24 hours, currently priced at $1,799.7. With a strong market cap and supply metrics, Ethereum holds a substantial position in the market rankings.

Looking at the 4-hour chart, Ethereum is facing a pivot point at $1,797, with resistance levels at $1,850, $1,887, and $1,921. On the other hand, support levels can be found at $1,763, $1,724, and $1,677.

The RSI indicator is currently neutral at 51, indicating a balanced market sentiment. Ethereum’s trading price is slightly above the 50 EMA at $1,776, suggesting a short-term bullish trend. However, the symmetrical triangle pattern observed reflects indecision among investors, and a breakout is awaited to determine a clear direction.

In summary, Ethereum’s trend appears bearish below the $1,800 threshold. In the short term, we may see a test of resistance at $1,850, depending on a decisive breakout from the current chart pattern.

THORChain Price Prediction:

THORChain is currently trading at $3.03, showing a 3.69% increase in the last 24 hours. With a commendable market cap and supply data, THORChain has a strong valuation. Looking at the 4-hour chart, immediate resistance is encountered at $3.06, followed by barriers at $3.27 and $3.54. Support levels are firmly established at $2.38, $2.13, and $1.80.

The RSI indicator is soaring at 83, indicating an overbought scenario that may lead to a potential pullback. However, THORChain’s current position above the 50 EMA at $2.51 suggests a short-term bullish trend. An upward channel pattern and the three white soldiers pattern further support a buying trend.

In conclusion, THORChain exhibits a bullish trend above the pivotal $2.85 mark. In the short term, we can expect the asset to challenge the immediate resistance at $3.06, with the potential to explore higher thresholds in the coming days.

NEAR Protocol Price Prediction:

NEAR Protocol has shown a significant uptrend, surging 10.51% in the last 24 hours to reach $1.409, indicating a bullish sentiment in its market positioning. The 4-hour chart reveals a pivot point at $1.2500, with immediate resistance at $1.4190. Further resistances are seen at $1.5510 and $1.6610, while support levels are found at $1.1580, $1.0600, and $0.9650.

The RSI is significantly elevated at 85, signaling overbought conditions and cautioning investors of potential reversals. Furthermore, NEAR Protocol is trading above the 50 EMA at $1.1440, reinforcing the bullish bias. A confirmed breakout from the downward wedge suggests continued buying interest.

In conclusion, NEAR Protocol exhibits a bullish trend above $1.2500. In the short term, we anticipate a test of the resistance at $1.4190, depending on sustained momentum.

For a comprehensive view of today’s economic events, you can refer to our economic calendar.

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