Watchlist Update (Mar 27 2023)

CryptoExplorer Author

Posted On Mar 27, 2023 |

This article summarizes the watchlist posted on Discord. As always: Read the charts, find the boxes and trade the boxes!

@here **BTC**

Limited action over the weekend in terms of price but we can see some changes. Volumes are down and have been declining, so will be interesting to see the reaction there today. Secondly, the RSI has now reset a tad and is no longer in over, bought conditions. This would make me more confident that we can see some more upside in the coming few days and hopefully fill the red resistance box where more of our Short orders are. I am still keeping them there, and am hoping to fill.

**ETH**

I am becoming more suspect of ETH here to be honest. We're now outside of the local uptrend line and volume is dwindling away. The horizontal support of $1,745 is still holding which is positive and the daily RSI has been reset more, so there are also some upside potentials. I think if we were to get more upside (with BTC going higher and filling our red box), I could see ETH getting to $2,000. If it did get there, then I may also look to Short ETH.

**SOL**

Two potential paths for SOL. And looking interesting here. My feeling is that SOL would be too dangerous to Short here, as a breakout of the red downtrend line whilst the current horizontal support of $20.40 is holding, will mean SOL could get some serious upside, particularly with the RSI in a healthy position (in the low 40's). I will note the declining volume of the last week however, and will remain cautious because of this. If the market becomes more setup for upside, and SOL squeezes against the red main downtrend line, I may look for a Long.

**MATIC**

Similar to SOL in someways that we're declining volume but a bounce play could be on the cards. I like the $0.95, $1.01 as a place to put small Long orders for a bounce play in MATIC. I am currently liking this one and SOL for potential bounces over the next 1, 4 days.

**DOT**

Unsure on DOT here, in order for me to feel that there was some upside ahead, I would have needed to see the $6.08 horizontal support level hold. Unfortunately we've not got that, not too interested here, better opportunities elsewhere trading wise. For DOT, I would become interested again, if we re, visited the $5.16 level.

**LINK**

Typical Chainlink... ultra strange price action. So, we hold the local uptrend, move past the orange box (which is a key testing range for most coins on bounces), but then reject slightly above it and now underneath the uptrend line. For now, a retest of the local high at $7.50 may be a good play for a Short, but I think, we're probably actually best waiting to see if LINK can extend to the red boxed area. If we get that then I'll Short in the red box. At $7.50, I'll assess it for a Short, but likely steer clear.

**RUNE**

I am super tempted by RUNE here. Holding the horizontal level really well. I am considering layering some Long orders, my one fear is that the volume is in such a clear declining trend that I am some what put off, but I think it may be worth a small order for a Long if we can get some upside.

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