{"id":21862,"date":"2024-11-19T19:11:47","date_gmt":"2024-11-19T19:11:47","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=21862"},"modified":"2024-11-19T19:11:47","modified_gmt":"2024-11-19T19:11:47","slug":"bitcoin-hits-new-ath-at-93-5k-rectangles-trading-reveals-tia-ada-rndr-pumps-inbound-in-altcoin-market","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=21862","title":{"rendered":"Bitcoin Hits New ATH at $93.5K: Rectangles Trading Reveals TIA, ADA, RNDR Pumps Inbound in Altcoin Market"},"content":{"rendered":"

\u00a0<\/p>\n\n

The altcoin market is noisy as Bitcoin slams a new ATH, but here\u2019s what rectangles trading reveals above TIA, RNDR, and ADA prices.<\/p>\n

Bull markets can feel chaotic and complicated when it comes to finding an entry when many altcoins\u2019 prices are flying in a volatile market bolstered by a new Bitcoin all-time high.<\/p>\n

JUST IN : Bitcoin $BTC<\/a> jumps to a new all-time high pic.twitter.com\/Ek4BYP2zah<\/a><\/p>\n

\u2014 Barchart (@Barchart) November 19, 2024<\/a><\/p>\n\n

Yet, it doesn\u2019t have to be this way. This article will focus on a specific Technical Analysis(TA) price pattern \u2013 the rectangle \u2013 and explore how it can cut through the noise.<\/p>\n

Many altcoins<\/a> are consolidating after the summer retrace and have formed potential bottoms amid renewed strength from Bitcoin.<\/p>\n\n

(Source<\/a>)<\/p>\n

DISCOVER:\u00a0The Hottest Upcoming Binance Listings in 2024 Meme Coin Market<\/a><\/strong><\/p>\n

What are Rectangle Setups When Trading Altcoins?<\/strong><\/h2>\n

The rectangle setup is a popular technical analysis setup, conveniently explained in the post by Chartered Market Technician Aksel Kibar below.<\/p>\n

There is a higher probability you will miss strong directional moves out of #rectangles<\/a> if you wait for a pullback. Rectangles have mostly been breakout and rally type of setup. #breakout<\/a> #alerts<\/a> pic.twitter.com\/Pry8lqsVAq<\/a><\/p>\n

\u2014 Aksel Kibar, CMT (@TechCharts) November 19, 2024<\/a><\/p>\n\n

Through a technical analysis lense, a rectangle pattern occurs when a price moves between parallel support and resistance levels.<\/p>\n

Analysts consider that the appearance of this pattern indicates a period of consolidation or indecision between buyers and sellers.<\/p>\n

By monitoring these rectangle pattern levels, a trader can spotlight positions to long or short.<\/p>\n

DISCOVER: Best Altcoins To Buy<\/a><\/strong><\/p>\n

Which Altcoins Are Forming Alluring Rectangle Patterns in the Crypto Market?<\/strong><\/h2>\n

Now that we understand a rectangle pattern, let\u2019s look at a few altcoins that are starting to break out of rectangles<\/a> or bottoms and ones that are still range-bound.<\/span><\/p>\n

We\u2019ll start with Cardano (ADA) <\/p>\n

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and look at the weekly timeframe\u2014a rather long timeframe.<\/p>\n

ADA price entered the rectangle in early 2023. Most altcoins I would look to trade will have consolidated and formed rectangles throughout the summer, but that is not the case with ADA.<\/p>\n\n

(ADA\/USDT<\/a>)<\/p>\n

The upper resistance level of the rectangle was tapped once before ADA price broke under. Then, two further taps followed at the lower trendline (above $0.23) \u2013 providing a layer of double-bottomed support to bolster market confidence.<\/p>\n

Understandably, this was followed by a one-tap re-test of the upper resistance level at $0.78 early this year. And now we are at the second re-test tap\u2014a make-or-break moment for the ADA price.<\/p>\n

I should note that according to technical standards, this is not an ideal rectangle, as we would like to see at least three taps.<\/p>\n

DON\u2019T MISS:\u00a0The Next Cryptocurrency to Explode in 2024<\/a><\/strong><\/p>\n

Moving on to another example, Celestia (TIA) <\/p>\n

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, which underwent a bull market retrace during the summer, before entering a rectangle pattern between $4 and $7 \u2013 forming a more acceptable technical bottom for breakout trading<\/p>\n\n

(TIA\/USDT<\/a>)<\/p>\n

On this altcoin, we can see multiple taps and deviations in the daily timeframe, both on the upper resistance and lower support levels.<\/p>\n

Ideally, traders want to see a daily candle break and close above the green line\/level\u2014this would confirm a breakout that could be longed for. Yet, for now, it seems TIA remains mid-range.<\/p>\n\n

(RNDRUSDT<\/a>)<\/p>\n

While TIA and ADA tease the potential of a breakout, one bullish confirmation currently underway is RNDR, which smashed above a 3-month rectangle between $4.2 and $6.6 earlier this month \u2013 to break up to a higher support level seen earlier in 2024.<\/p>\n

This demonstrates the potential of rectangles for identifying good long positions and can help you cut through the altcoin market noise.<\/p>\n

Happy trading, and stay safe!<\/p>\n

EXPLORE:\u00a016+ Tokens That Look Set To Explode \u2013 Expert Cryptocurrency Predictions & Analysis<\/a>
\n<\/strong><\/p>\n

Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/a><\/strong><\/p>\n

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.<\/span><\/p>\n

The post Bitcoin Hits New ATH at $93.5K: Rectangles Trading Reveals TIA, ADA, RNDR Pumps Inbound in Altcoin Market<\/a> appeared first on <\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

\u00a0 The altcoin market is noisy as Bitcoin slams a new ATH, but here\u2019s what rectangles trading reveals above TIA, RNDR, and ADA prices. Bull markets can feel chaotic and complicated when it comes to finding an entry when many altcoins\u2019 prices are flying in a volatile market bolstered by a new Bitcoin all-time high. […]<\/p>\n","protected":false},"author":0,"featured_media":21863,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-21862","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/21862"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21862"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/21862\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/21863"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}