In the dynamic cryptocurrency market, technical analysis is a crucial tool for investors, particularly in futures trading. The analysis of TIA, trading at $13.69, and EDU, at $0.7170, provides valuable insights through detailed chart examination and key support and resistance levels.
TIA’s four-hour chart showcases a rising channel formation, which began at $5.50 on November 27 and peaked at $14.77. A false breakout on December 5, perceived as a bull trap, misled many investors. Key support levels for TIA are identified at $13.35, $12.63, and $11.98. A four-hour bar closure below the $13.35 level, which has been acting as resistance since December 18, could trigger selling pressure for TIA.
Critical resistance levels to watch on the TIA chart are $14.04, $14.77, and $15.57. Overcoming the significant hurdle at $14.04, where recent bars have struggled, with a four-hour bar closure above this level could accelerate TIA’s momentum.
The EDU four-hour chart also features a rising channel formation. A support breach on December 18 caused fear among investors, but the price recovered, warning of potential bear traps that can lead to substantial losses for futures traders.
Important support levels for EDU are at $0.7008, $0.6657, and $0.6435. A four-hour bar closure below the $0.7008 level, which is currently constricted and intersects with the EMA 21 (green line), could lead to significant selling pressure on the EDU price.
For EDU, resistance levels to monitor are $0.7328, $0.7570, and $0.7809. A four-hour bar closure above the challenging $0.7328 level could propel EDU’s price momentum.