50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

Ukrainian Escalation & Market Snapshot: Where Strategic Dip Buying Makes Sense ($ETH, $SOL, $HBAR)

Published 21/11/2024, 01:12
© Reuters.  Ukrainian Escalation & Market Snapshot: Where Strategic Dip Buying Makes Sense ($ETH, $SOL, $HBAR)
DX
-

Crypto Daily - Bitcoin (BTC/USDT) reigns supreme – hitting a new ATH of $94,832, cementing its undisputed dominance. Ethereum, lagging 37% below its ATH of $4,868, struggles to shine in Bitcoin’s shadow. Solana, nearing its all-time high of $259.9, shows nerves of steel. Meanwhile, HBAR, with an ATH of $0.576, looks like an undervalued gem waiting for its moment.

Behind the scenes, a strong dollar is flexing its muscles. With the DXY index at 106.66, risk markets, including crypto, are feeling the squeeze. A rising dollar drains liquidity, dampens risk appetite, and forces capital into safer assets. In this environment, dip buying requires precision—focus on technical levels and prepare for every scenario. History suggests that a significant flash crash may be just around the corner, and preparation will separate winners from the rest.

Altcoins to Watch?

HEDERA ($HBAR)

HBAR (HBAR/USDT), while far from its ATH, has immense potential, driven by institutional adoption and growing on-chain metrics. An ETF for HBAR? If it happens, the market could see explosive moves.

Strategy:

Divide your entries, set stink orders, and plan your stop-loss levels—these are the keys to surviving and thriving.

Buy Levels:

1

$0.125 (Rating: 6/10): For aggressive traders.

$0.0096 (Rating: 8/10): A neutral level with more stability.

$0.845 (Rating: 9/10): A historical balance zone, often a launchpad for strong rebounds.

…and:

Stink Order: $0.066 - $0.725 zone – For those who know how to buy into panic.

Stop-Loss:

When $BTC changes market structures on different timeframes mosty, otherwise adjusted to risk-appetite.

SOLANA ($SOL)

Solana (SOL/USDT) continues to prove its leadership among altcoins. With support around $220 and a historical level at $200, it remains one of the most promising projects in the market.

Strategy:

Buy at support zones, set stink orders lower, and manage risk with clear stop-losses.

Buy Levels:

1

$230 (Rating: 5/10): A level for quick moves.

$220 (Rating: 7/10): A neutral zone for calculated entries.

$200.5 – 2003.5 buyzone (Rating: 9/10): A historical base where demand often takes control.

..and if we get lucky:

Stink Order: around the $183 mark – Ready for a potential flash crash.

Stop-Loss:

The real danger would appear when $SOL loses the 200SMA (the fat green up-curving one in the chart)

ETHEREUM ($ETH)

Ethereum (ETH/USDT), while in Bitcoin’s shadow, remains a cornerstone of DeFi and NFTs. The psychological support at $3,000 has repeatedly acted as a stabilizing point for the market.

Strategy:

Focus on key support levels, use stink orders for deep corrections, and define your stop-loss zones.

Buy Levels:

1

$3,026 (Rating: 4/10): For short-term speculations.

$3,000 (Rating: 6/10): A critical psychological level. Rememberring that this might easily dip down to test the 200SMA on the daily chart, where a bounce would confirm the upside trajectory.

$2,780-90 (Rating: 8/10): A balance point where the market historically shifted to upward trends.

..and why not here, or slightly above:

Stink Order: $2,400 – Prepare for the worst and capitalize on it.

Stop-Loss:

Lose the fat Green MA at $2957, and we need to re-assess..

Summary: How to Play the Current Market

Buying dips is a game for those with a cool head. HBAR, SOL, and ETH combine strong fundamentals with rebound potential. However, a strong dollar and global market tensions could bring about the first major flash crash of this cycle. For many new investors, this could be their first exposure to such an event.

Those with a plan—spreading their entries, placing stink orders, and preparing for volatility—will likely come out ahead. Every dip is an opportunity. Another one? A possibility. But the market rewards the prepared, not the naive. If something goes wrong, remember—it's the theory that failed, not you. NFA.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

This content was originally published on Crypto Daily

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.