• Bitcoin continues to seek to step on a significant weekly resistance, and then continue with the parabolic shot.

• All subscribers will recognize that we are bringing this section monthly with the objective of carrying out technical and fundamental monitoring for Ethereum, Optimism, Polygon and Arbitrum. We are really interested in studying the correlation between these digital assets.

Bitcoin weekly technical data suggests that we are in a convergent linearity in the accumulation bridge between the prices of $29769.52 and $28834.41. Direction, which does not allow a clear definition of momentum.

For the next few weeks, it is important to pay attention to the break of the support of $28834.63 and Tekan-Sen at $28287.59. However, there is confirmation of the crossing of the EMA21 with the EMA100 at the exact point of $27979.42 and $27925.65 in a bearish direction.

This important point could trigger massive selling and alert the market to a possible fall towards the point where everyone expects the next correction, at exactly.

In the event of confirmation of price correction, the most favorable recommendation to open long is in the Kijun-Sen toke and at the point of $25963.85. Up to that point Bitcoin can correct approximately 9.99%.

Ethereum Fees Drop

According to ycharts.com, Ethereum Average Transaction Fee is at a current level of 0.9238, down from 0.9254 yesterday and up from 0.7526 one year ago. This is a change of -0.17% from yesterday and 22.75% from one year ago.

Indeed, since the last large amount of capital inflow into the cryptocurrency market, Ethereum has considerably reduced the cost of transacting towards validators. This is enabling many enthusiasts to use the network again to carry out their financial operations.

Technically, Ethereum is becoming a stablecoin. On a weekly basis, the price is supporting the Tekan-Sen support at about $1825.75, without convergence on the high but with a large divergence on the low.

For the next several weeks, it is important to pay attention to the touch of the trend support for the 30-period EMA at exactly $1786.24. Long positions will increase when Ethereum finally seeks Kijun-Sen support at the exact point of $1755.35. But we believe that a crucial high liquidation point could be at $1691.65.

Token Neither Advances Nor Decreases

Soon, Polygon will exchange its Matic token for the Pol name assignment. But in the meantime, it is important to alert traders that the weekly price is being supported by the EMA200 at the $0.6814 mid-price line.

If the market corrects, the token could again step on the support line below $0.5584, where there is high volatility. In general, it presents a bearish sentiment but with convergence to follow an accumulation trajectory between $0.51 and 0.72.

Structurally, we see a WXYXZ structure for the next few weeks. If important barriers and resistances are overcome, a closer stop gain is at $1.0288.

Network With Good Odds

Optimism (Op) is one of the projects that we faithfully believe will follow the Ethereum correlation for the next bullish cycle. There are already several entities that have joined the project, and have created their own layer 2 of Ethereum for their services, using the technology of this network.

Looking at weekly technical parameters, Op, and at the time of writing this article, closed the week with a candle with an "engulfing bearish" pattern.

Many should evaluate the possibility that the price for the next few weeks can touch the support of $1.47 and with a high probability of testing weekly Tekan-Sen at the exact point of $1.4410.

Sentimentally, Op is gaining acceptance and that makes its high convergence trend grow in the medium term. Therefore, it is very important to study the average resistances of $1.85; $2.0925 and $2.38, for when the market launches positive trend-following signals towards the bulls.

Project That Is Standing Out

The growth of the Arbitrum network is being constant. Doing a daily test, we see that it has lost most of the supports and the price could look to go as high as $1.2991 and $1.2138. In that price range, traders will seek to accumulate for the medium term.

In the near future, we could see good volatility in this asset, due to its main use of making transactions within layer 2 of Ethereum.

But basically, and if it is in your interest to look at this asset for the long term, our recommendation is to buy the average prices of up to $1.0532 and $0.9075. In that order of ideas, Arbitrum can follow the trend of waves 12345.

Last article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Rubikkav.

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