Greener Candles Crypto Market Analysis - 11/06/25
Feels like so many things are happening all around the crypto space right now, but since I promised myself and my readers to keep these analyses short, I'll try to include only the most interesting moves.
Let's start with ETH.
ETH
Breaking out of its month-long range, ETH is looking very interesting.
If we look at the daily chart and pay attention to the 200MA(purple line), we can see that after a long while, ETH has used it as support and hit it almost perfectly yesterday.
During this 31-day range, ETH has been rejected a couple of times from the 200 moving average. Now that we also have increasing volume, the break above 200MA, and a break above the range, things are starting to look quite bullish for ETH.
Zooming in a bit on the 4-hour chart, we notice ETH is now testing the 2,768 level. If that won't hold, the next support would be near 2,665. A bounce back up from there would still maintain the bullish structure, while invalidation would come into play below the range.
BTC
Bitcoin looks like ranging again between the 109k and 110.5k levels. In a case of some negative macro news, like hot CPI later today, I'm prepared for a minor pullback.
A good entry level, in my opinion, is the golden pocket that I mentioned in my yesterday's post. This falls between the two fib levels of 0.618 and 0.786, marked here in a blue circle.
A healthy pullback and bounce from there would still keep the bullish structure very much intact.
SOL
Solana is also looking pretty good as it broke the $157 resistance, turned it into support and bounced up into the $165 levels while creating a higher high.
Currently, SOL is struggling with the 200MA and turning this into support like ETH did would definitely add to the bull case.
Meanwhile, Bloomberg ETF analysts updated their spot ETF approval odds, and Solana now stands at 90%.
BTC.D & USDT.D
While ETH and SOL are performing relatively well, the Bitcoin Dominance has been declining, although a jump back up from here would mark another higher low.
The same goes with USDT.D. Even though it fell off the wedge, the structure isn't completely broken yet.
HYPE New ATH!
Yesterday, we also saw $HYPE making a new all-time high ($43.085) and is currently trading just a little bit below that.
I added some more HYPE at $40.848, which looks like a FOMO buy, but was actually made because I needed HYPE for my HyperEVM farming operations. For those looking for an entry, I'd be looking at the previous ATH at $40 (blue line) and $36.546 (fib golden pocket).
All in all, by scrolling through the CT, it seems like the hype is intensifying:
I'm still not planning on buying into FOMO as I've been holding HYPE since $15 levels, and farming HyperEVM mostly with stablecoins. Interesting to see how high above it could climb, though. 👀
That's all for today, thank you for reading! 🟢
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