More than 700K new addresses created for $BTC over the past | Steven Walgenbach on Binance Square

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More than 700K new addresses created for $BTC over the past few days! Could this lead to a #rally for #BTC ?

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Watch Out! Luna Classic Price Drop Looming Amid Bearish Signs The Luna Classic price is stuck in a medium-term negative price channel after the crypto printed a series of lower lows and lower highs throughout the past few days. Should $LUNC remain in this descending channel, it could be at risk of falling to the immediate support level at $0.00005815. Continued sell pressure should the Luna Classic price fall to $0.00005815 could expose the crypto to the risk of dropping to as low as $0.00005153 in the short term. However, a daily candle close above the next major resistance level at $0.00007020 within the next 48 hours could invalidate the bearish thesis. In this alternative scenario, the Luna Classic price might continue to climb in the following couple of days. Traders could look to enter into a long position for the altcoin as a result, which might push its price to as high as $0.00008470. Technical indicators on LUNC’s daily chart warn that the crypto’s price might drop in the coming 48 hours. Both the Relative Strength Index (RSI) and the Moving Average Convergence (MACD) are showing bearish signs. Currently, the RSI on the daily chart is positioned below its Simple Moving Average (SMA) line. Traders generally see this as a sign that bears are stronger than bulls. As a result, it might be easier for sellers to pull the Luna Classic price down in the next 24 hours than it will be for buyers to give it a boost during the same period. However, the RSI has started to slope positively. This might be an early sign of a bullish reversal in LUNC’s trend. Before traders decide to go long, it is important to note that the MACD line is currently positioned below the MACD Signal line. What’s more, the MACD line is breaking away below the MACD line as well. Not only does this warn that LUNC is still in a bearish cycle, it also suggests that the bearish momentum is intensifying. #LUNC $LUNC #altcoins #TrendingPredictions The full analysis was originally posted on ecoinimist.com.

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Bonk Price Prediction: Are You Ready for the Next Big Move? The 4-hour chart analysis of the #Bonk price reveals intricate patterns and key technical levels that traders should monitor closely. Recent closing prices show a mild uptrend from $0.00002184 to $0.00002242, suggesting some bullish sentiment in the market. The closing prices of $BONK have demonstrated a gradual upward trajectory. The 9 Exponential Moving Average (EMA) has been consistently above the 20 EMA, which is a positive indicator suggesting short-term bullish momentum. 9 EMA values ranging from $0.00002130 to $0.00002177 indicate that the short-term trend is improving. This is further supported by the 20 EMA, which has remained relatively stable around $0.00002212. The Moving Average Convergence Divergence (MACD) indicator provides a nuanced view of the market. MACD values have been trending upwards from -$0.00000083 to -$0.00000049, indicating a decreasing bearish momentum. The histogram values moving from negative to positive territory suggest a potential bullish crossover, which could be a signal for an upward price movement. Meanwhile, the Relative Strength Index (RSI), oscillating between 47.31 and 51.22, currently stands at around 50.47. This implies that the asset is in a neutral zone but leaning slightly towards the overbought territory. Key levels to watch include support at $0.00002200, $0.00002194, and $0.00002190. These levels have been tested multiple times, indicating strong buying interest. On the upside, resistance levels at $0.00002250, $0.00002300, and $0.00002341 are crucial. Breaking through these resistance points could signify a stronger bullish trend, potentially leading to further gains. #Memecoins #MemeWatch2024 #altcoins The full analysis and trade strategy were originally posted on www.ecoinimist.com.

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Bitcoin Price Alert: Crucial Technical Indicators You Need to Know In the latest 4-hour chart analysis, the #Bitcoin❗️ price is displaying mixed signals, presenting both opportunities and challenges for traders. Closing prices for the recent sessions have shown some volatility, with values fluctuating around $56,000. This range has kept traders on their toes, especially as $BTC approaches key support and resistance levels. Bitcoin is currently testing significant resistance at $61,174.18, with further resistance levels identified at $61,828.17 and $61,975.46. A breakout above these levels could signal a bullish trend, potentially propelling BTC to new heights. On the downside, BTC finds support at $54,415.05, a critical level to watch for any potential bearish reversal. The 9 and 20 Exponential Moving Averages (EMAs) indicate a bearish trend, with the 9 EMA consistently below the 20 EMA. This alignment suggests downward pressure on BTC, making it challenging for the cryptocurrency to gain upward momentum. The MACD (Moving Average Convergence Divergence) is also flashing bearish signals. The MACD line remains below the signal line, and the histogram is negative, albeit decreasing in magnitude. This configuration suggests that while bearish momentum persists, it might be weakening, hinting at a possible trend reversal. Conversely, the Relative Strength Index (RSI) hovers around the 36-37 range, indicating that #BTC is approaching oversold territory. An RSI below 30 typically signals that an asset is undervalued, and a reversal could be imminent. Traders should monitor the RSI closely for signs of recovery, which might provide a bullish outlook in the near term. #MtGoxJulyRepayments The full analysis and trade strategy were originally posted on ecoinimist.com.

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Worldcoin Price on the Edge: Will It Plummet or Soar? The recent movements of the #Worldcoin price have seen a series of fluctuations. This price action reflects a period of consolidation, with the price hovering around the $1.82 mark. Technical indicators present a mix of signals, suggesting potential scenarios for both bullish and bearish movements. $WLD is currently trading near the support level of $1.812, which has held firm despite recent downward pressures. This level is crucial for traders to monitor, as a break below it could signal further declines. On the upside, resistance levels are marked at $2.483, $2.745, and $2.834. These levels represent potential targets for bullish moves, with each level needing to be breached and sustained for a continued upward trend. The 9 Exponential Moving Average (EMA) has been trending below the 20 EMA, indicating a bearish crossover. 9 EMA values reflect a declining trend, while the 20 EMA values also confirm this bearish sentiment. When the shorter-term EMA is below the longer-term EMA, it typically signals that the market is experiencing downward momentum. The Moving Average Convergence Divergence (MACD) indicator further supports the bearish outlook. MACD values have been consistently negative, with the MACD line remaining below the signal line. Meanwhile, the decreasing histogram values also indicate a weakening momentum, suggesting that sellers are currently dominating the market. The MACD's bearish signals align with the current price action, pointing to the possibility of further declines unless a reversal occurs. Concurrently, the Relative Strength Index (RSI) has been fluctuating around the 30-mark. An RSI value below 30 typically indicates that the asset is oversold, which could imply a potential buying opportunity if the market conditions improve. However, sustained RSI levels around 30 suggest that the bearish pressure might continue for some time. #WLD #altcoins The full analysis and trade strategy were originally posted on www.ecoinimist.com.

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ARB Crypto Struggles to Find Support: Bearish Signals Explained Closing prices for the $ARB crypto indicate a fluctuating market. Currently, the Arbitrum price is navigating critical technical levels that could influence its near-term direction. The 9 Exponential Moving Average (EMA) and 20 EMA are pivotal in assessing the current trend. The 9 EMA, descending from $0.6985 to $0.6521, suggests a bearish short-term trend. Similarly, the 20 EMA, declining from $0.7341 to $0.6961, confirms a bearish medium-term trend. These converging EMAs indicate persistent selling pressure, implying potential continued weakness unless a strong bullish catalyst emerges. Examining the Moving Average Convergence Divergence (MACD) further supports a bearish outlook. The MACD line, below the signal line and both trending downward, indicates weakening momentum. The histogram values, consistently negative and decreasing, reinforce the likelihood of continued bearish momentum. This technical setup suggests that bulls are struggling to gain control, and further declines are possible unless there's a substantial shift in market sentiment. Meanwhile, the Relative Strength Index (RSI), moving from extremely oversold levels of 10.25 to 24.73, shows a slight recovery but remains in bearish territory. The RSI's gradual ascent suggests a potential relief rally. However, it has not yet reached the neutral 30-70 range, indicating ongoing bearish sentiment. Potential support and resistance levels are crucial for anticipating future price movements. Immediate resistance is observed at $0.7832, $0.8049, and $0.8104. A break above these levels could signal a reversal and provide buying opportunities. Conversely, if the ARB crypto fails to breach these resistances, it could resume its downtrend, with traders eyeing lower support levels. #Arbitrum #altcoins #ARB The full analysis and trade strategy were originally posted on www.ecoinimist.com.

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