In the cryptocurrency market, technical analysis emerges as an indicator that investors, especially those trading in the futures market, must continuously monitor. So, what kind of clues does technical analysis provide for TIA, which was trading at $13.69, and EDU, trading at $0.7170, at the time the article was written? We examine it with detailed chart analysis and key support and resistance levels.
Celestia Chart Analysis
The first noticeable formation structure in the four-hour TIA chart is the ascending channel formation. TIA, which was trading at $5.50 on November 27, managed to maintain this formation structure up to the $14.77 level. The breakout seen on the resistance line on December 5th only acted as a bull trap, leading many investors to be misled.
The most important support levels to watch on the four-hour TIA chart are; $13.35 / $12.63 and $11.98, respectively. Particularly, a four-hour bar closure below the $13.35 level, which has been acting as resistance since December 18, will lead to selling pressure on the TIA front.
The most important resistance levels to follow on the TIA chart are; $14.04 / $14.77 and $15.57, respectively. A four-hour bar closure above the $14.04 level, which has been a significant obstacle in the last bar formations, will accelerate the TIA price.
EDU Chart Analysis
The most important formation structure to pay attention to in the four-hour EDU chart is the ascending channel formation. The support break that occurred on December 18 within this formation structure caused fear and concern among investors but then managed to recover, and the price gained upward momentum from these levels. Such bear traps can particularly mislead futures traders and lead to significant losses.
The most important support levels to monitor in the EDU chart are; $0.7008 / $0.6657 and $0.6435, respectively. Especially a four-hour bar closure below the $0.7008 level, which is squeezed in a narrow area and intersects with the EMA 21 (green line), will cause significant selling pressure on the EDU price.
The most important resistance levels to pay attention to in the EDU chart are; $0.7328 / $0.7570 and $0.7809, respectively. A four-hour bar closure above the $0.7328 level, which has been a significant barrier in the last bar closures, will help the EDU price gain momentum.
