J.J. Edwards’ Expert Market Analysis at FenzoFx

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XRP: Bullish Setup Forms Above $2.833

FenzoFx—XRP extended its downtrend to the August low of $2.727, briefly sweeping below. On the 4-hour chart, three equal highs at $3.105, $3.145, and $3.348 suggest a bullish setup. Immediate resistance sits at $2.833. 

A bullish wave may emerge if this level is engulfed with a fair value gap, targeting $2.915. A strong exit above $2.195 could push toward $3.105 and $3.145.

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Litecoin Eyes Higher Resistance

FenzoFx—Litecoin’s bearish momentum eased after sweeping the $106.80 low in New York’s late PM session. The price is now stabilizing above the inverted fair value gap at $111.90.

While BCH and XRP surged yesterday, Litecoin lagged. However, equal highs at $114.30 and $123.30 suggest potential upside. LTC/USD could reach $116.30, and if buying pressure continues, a rally toward $123.30 is likely.

Note: The bullish outlook is invalidated if the price dips below $106.80.

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Bitcoin Cash Holds Bullish Structure

FenzoFx—Bitcoin Cash slipped nearly 3.00% after approaching $607.60, now trading around $586.00. The bullish outlook holds while BCH stays above the inverted fair value gap, with key support at $568.00.

Consolidation near or within the FVG is expected before a potential rebound. If the mean threshold holds, BCH could aim for $626.00. A drop below $568.00 would invalidate the bullish scenario.

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Bitcoin: Liquidity Below $107K Signals Bearish Risk

FenzoFx—Bitcoin formed a double top at $113,480.00 and is trading lower, up 0.80% today. The chart shows equal lows at $107,507.00, indicating unabsorbed liquidity below. Technically, Bitcoin may drop to fill the bullish fair value gap near $103,500.00, if BTC/USD closes below the $109,993.00 resistance.

This bearish outlook is invalidated if Bitcoin closes and stabilizes above $113,480.00. In that case, the next bullish target could be $117,416.00.

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Litecoin Stabilizes After Liquidity Sweep

FenzoFx—Litecoin trades sideways, up nearly 1.0% today, currently around $113.80. The recent momentum may stem from the liquidity sweep below $106.80 on September 1st. However, RSI hovers above 70.0, indicating overbought conditions.

Immediate resistance stands at $116.30. Technically, Litecoin hasn’t cleared significant buy-side liquidity, so we remain neutral until price reaches this level. The resistance appears to be the next target following the sell-side liquidity sweep.

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Ethereum Accumulation and Bullish Setup

FenzoFx—Ethereum is currently trading sideways, indicating an accumulation phase. On Monday, price swept equal lows and formed a long-wick bullish candlestick. The 4-hour chart shows two engulfing candles that cleared liquidity on both sides. 

Technically, the market remains bullish and is consolidating. If momentum continues, ETH/USD may target the equal highs near $4,500. A confirmed close above the immediate support at $4,384 would validate this bullish outlook.

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XRP Forms Head and Shoulders at Premium

FenzoFx—Ripple (XRP) displaced above $2.900, confirming a bullish trend. It now trades around $2.978, filling a bearish fair value gap and forming a head and shoulders pattern. On the 4-hour chart, equal lows at $2.934 and a liquidity void at $2.912 suggest a potential downside move.

Please note that $2.912 remains in the premium zone, however, it could trigger a bullish wave targeting $3.037. A break below $2.912 may extend the decline toward the fair value gap at $2.837. Traders should monitor these levels closely for bullish setups.

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Bitcoin: Bullish Bias Strengthens 

FenzoFx—Bitcoin remains bullish, targeting recent highs at $117,416.00. Currently, BTC is consolidating near $115,000.00, aligning with a bullish fair value gap and support at $114,464.00. Today’s liquidity sweep below the FVG’s mean threshold reinforces the bullish bias.

Immediate resistance stands at $115,652.00. A break above this level may resume the uptrend toward $117,416.00. However, if price drops below $114,464.00, the bullish outlook should be reconsidered.

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Bitcoin Cash Holds Bullish Structure

FenzoFx—Bitcoin Cash is consolidating near $592.00 after sweeping liquidity above $607.60. Price is declining toward a bullish fair value gap, with support at $507.00 still holding the bullish outlook intact.

Immediate resistance is at $600.5. A close above this level could extend the bullish rally toward $626.00. The inverted FVG left after crossing $507.00 reinforces the bias.

Note: The bullish scenario should be invalidated if price flips below $570.00.

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Ripple Pauses After Hitting $3.158

FenzoFx—Ripple (XRP) is trading bullish but paused after reaching $3.158. It now trades around $3.037, above the inverted fair value gap. On the 4-hour chart, equal lows at $2.934 may form a liquidity pool. Current bearish momentum respects both a valid 'bearish' order block and the 'bearish' fair value gap.

If price closes below $2.965, the downtrend may resume toward $2.934 and possibly extend to $2.837 if selling pressure increases. Conversely, a close above $3.077 could reignite the uptrend, targeting $3.158 and $3.271.

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Solana: Daily Inside Candle Signals Next

FenzoFx—Solana is in a bull market and made a new high at $250.0. As of this writing, the cryptocurrency trades above the mean threshold of the bullish fair value gap at $234.0.

Yesterday, the daily chart made an inside candle, meaning a new bullish/bearish wave is on the way. This consolidation could lead to a significant drop or a break of the highs.

The immediate support rests at $229.1. The bullish outlook remains valid as long as the price is above this level. In this scenario, we expect SOL/USD to target 50.0% of the wick at $246.5.

Please note that the bullish outlook should be invalidated if the price dips below $229.1. 

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Litecoin: Support at $112.10 Key to Continuation

FenzoFx—Litecoin continues its bullish structure, trading around $116.4 after forming a double bottom below $113.00. This move led to a close above the bearish order block at $117.00, reinforcing bullish sentiment. Immediate support is at $112.10. If this level holds, LTC/USD may resume its uptrend, targeting the equal highs at $123.40.

However, if price declines and stabilizes below $112.10, the bullish outlook will be invalidated. In that case, Litecoin could consolidate toward the next support at $106.80.

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Ethereum Tests Key Support at $4,535

FenzoFx—Ethereum’s downtrend eased after hitting the bullish breaker at $4,425.00. It currently trades near $4,540.00, down 1.00% today. Immediate support lies at $4,535.00. A close below this level could extend the decline toward the equal lows at $4,425.00 and possibly $4,240.00.

The bearish outlook remains unless Ethereum exceeds $4,700.00 and closes above the bearish fair value gap.

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GBP/JPY: Thin Price Action Above 200.10

FenzoFx—GBP/JPY started the week declining toward the bullish fair value gap, with support at 199.14. The overall trend remains bullish, suggesting price is consolidating or moving to a discount level.

Equal lows at 197.80 may attract price. On the 4-hour chart, the pair left a large fair value gap with a mean threshold at 200.10. Technically, GBP/JPY may aim to fill the bearish FVG, as price action remains thin above 200.10.

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Bitcoin: Volume Spike Signals Temporary Relief

FenzoFx—Bitcoin sold off early in the week, now trading near $112,670.00. A high-volume 4-hour candle tapped the bullish FVG and ended with a wick, suggesting partial profit-taking by bears.

The short-term trend remains bearish due to displacement below $115,132.00 and active bearish FVGs. BTC/USD may consolidate near resistance before resuming its downtrend. If price rises toward the low-volume node near $115,132.00 and holds bearish momentum, it could target the equal lows at $107,507.00. 

The bearish outlook is invalidated if BTC/USD closes above the breaker block at $116,194.00.

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Litecoin: Liquidity Sweep Signals Consolidation

FenzoFx—Litecoin dipped to $103.0, its lowest in 40 trading days, and now trades near $106.5, recovering 0.70% today. Support remains at $103.00. Liquidity below this level has been swept, suggesting an inside candle formation. The sharp decline left a fair value gap with a mean threshold at $110.3.

Technically, Litecoin stays bearish below $112.0. However, the recent liquidity sweep points to a possible consolidation toward $110.3. Note: The bearish outlook is invalidated if LTC/USD exceeds $112.0.