DOW JONES INDUSTRIAL INDEX
Asian shares and U.S. futures tumbled on Tuesday after a tumultuous Wall Street session, with investors nervous about the situation in Ukraine and eyeing the U.S. Federal Reserve amid worries about a move to tighter monetary policy globally.
From the overview of price, the overall trend of US30 seems bearish. Price is currently reacting to the resistance level between 33875 and 33672. We could see that price is likely going to reverse to the upside and forming a possible double bottom reversal pattern. The RSI is oversold which adds to the reversal confluence.
In the last week alone, Bitcoin shed more than 20% at its troughs, with so-called smart contract currencies faring even worse: Ethereum (ETH-USD) swooned by over 30% within the same period, while Solana (SOL1-USD) has plunged by more than 40%. Outages on the Solana blockchain exacerbated network fees and forced some decentralized finance (DeFi) investors to liquidate their positions.
The overall trend for SOLUSD is bearish. Price seems to have gotten to the next resistance zone between 84.3575 and 75.2575. Price seems to have form a reversal pattern in the form of a falling wedge within the zone. We could see that price is oversold in the RSI and also in divergence with the RSI and MACD indicators to add to it move to the upside.
Price seems to be in an overall downtrend. We could see that price is within the support zone between 1.43502 and 1.43060 which also has a possible retest of the 50 EMA within the support zone. The RSI and MACD are below the centreline which adds to the confirmation of price being in a downward trend.