Welcome to our latest crypto market outlook for February 25th!
The crypto market is taking forever to recover, and this week, it’s dropping hard. To me, this signals the storm before the rainbow. Here are my top five picks for the week: IMX, PHA, MAV, JTO, and ZK.
Today, we will cover the following topics:
– USDT.D and BTC Analysis
– 5 Altcoins Analysis
– Quotes / Advices
– Closing Remarks
USDT.D and BTC analysis
After rejecting the 4.38% structure mentioned in our last market outlook, UST.D surged aggressively to test the upper boundary of the rising channel and the 5% resistance zone.
As long as the 5%–5.1% resistance zone holds, the bears will maintain the upper hand.
For the bears to take control and initiate the bearish correction phase, which would be bullish for crypto, a break below the last low at 4.95% is required.
BTC remains short-term bearish, as mentioned in our last roundup article, weakening further each week.
However, it is currently hovering around the lower boundary of the falling blue channel and the $86,500 structure. As long as this level holds, a bullish correction is expected.
For the bulls to shift momentum in their favor, a break above the last major high and the key round number of $90,000 is required.
Until then, BTC will remain short-term bearish.
5 Altcoins Analysis
After breaking below the $1.50 resistance zone, IMX has entered the second bearish impulse phase, moving toward the lower boundary of the channel.
Currently, IMX is hovering around a strong support level and the key round number of $0.50. As long as this support holds, we will be looking for long opportunities.
For the bulls to take control and initiate a deep bullish correction phase toward the $1.50 resistance zone, a break above the last major high at $0.667 is required.
Meanwhile, IMX can still decline within the $0.40–$0.60 support zone.
MAV has been overall bearish, trading within the falling channel marked in orange.
Since it is hovering around the $0.05 round number, the bulls could step in at any moment.
For the bullish phase to be confirmed, a break above the last high in orange at $0.105 is required.
Next up is ZK, which is rejecting a strong structure near its all-time low of around $0.08.
As ZK dips into the blue support zone, we will be looking for short-term long opportunities.
For the bulls to maintain control in the medium term, a break above the falling orange channel is required.
Analyzing JTO, as mentioned in our altcoin article two weeks ago, it is currently retesting the lower boundary of the symmetrical triangle marked in green.
As long as the $2 support level holds, we will be looking for trend-following long opportunities.
For the bulls to take control in the short term and push JTO toward the $3.50 mark, a break above its falling channel and the last major high at $2.63 is required.
Last but not least, PHA is currently retesting a massive weekly support and demand zone between $0.10 and $0.125.
This area is considered a strong rejection zone as it intersects a key support level, a round number, and a significant structure.
Short-term, PHA has been bearish, trading below the falling trendline marked in blue.
For momentum to shift in favor of the bulls, a break above this trendline and the last high at $0.144 is needed.
Quotes / Advices
All the math you need in the stock market you get in the fourth grade.
~ Peter Lynch
Closing Remarks
In summary, USDT.D remains in a critical resistance zone at 5%–5.1%, while BTC continues to show short-term bearish momentum, needing a break above $90,000 for a bullish shift.
IMX is in a bearish impulse phase but could see a recovery if it holds the $0.50 support level, with a breakout above $0.667 needed for bullish confirmation.
MAV is trading within a falling channel, with bulls possibly stepping in around $0.05, but a break above $0.105 is required for trend reversal.
ZK is rejecting a strong structure near its all-time low of $0.08, with potential for short-term longs, though a breakout above the falling channel is needed for medium-term bullish control.
JTO is retesting a symmetrical triangle’s lower boundary at $2, with a push above $2.63 required to confirm bullish momentum toward $3.50.
PHA is hovering around a major support zone between $0.10 and $0.125. A break above $0.144 is necessary for a bullish shift.
