#AXSUSTD $AXS

we will analyze the price action and patterns of the AXS/USDT trading pair, focusing on recent movements and potential future trends. The chart provided spans from early 2022 to mid-2024, showcasing various phases of price fluctuations.
Price Action Analysis
Recent Trend
As of the latest data point on the chart, AXS/USDT is trading at approximately $4.952. The overall trend in recent months shows a downward movement, which indicates a bearish market sentiment. This decline has led to the price approaching a critical support level highlighted in green.
Support and Resistance Levels
Support Level: The green horizontal line represents a significant support level around the $4.00 mark. This level has been tested multiple times in the past, particularly in mid-2022 and late-2022, and has held strong. The price is currently approaching this support level again.
Resistance Levels: The chart shows several resistance levels where the price has previously faced selling pressure. Notable resistance points include $10.00, $14.00, and $20.00. These levels are crucial for any potential bullish reversal.

Technical Patterns
Clustering and Dispersion
The chart includes various clusters and factors indicating significant price action points. These clusters are marked with red and green indicators, showing areas of concentrated trading activity and potential reversal points.
Market Sentiment
Given the persistent downward trend and the positioning of the moving averages, it is clear that the market sentiment for AXS/USDT is currently bearish. The critical support level around $4.00 will be essential to watch. If the price breaks below this level, it could signal further declines.
Potential Scenarios
Bullish Reversal: If the support level at $4.00 holds and the price manages to break above the 200-day moving average, a potential bullish reversal could occur. This scenario would need to be supported by increased trading volume and positive market sentiment.
Bearish Continuation: If the price breaks below the $4.00 support level, the bearish trend may continue. In this case, traders should watch for new support levels and further downside risks.
Disclaimer
This article is for informational purposes only and should not be considered financial advice. Cryptocurrency trading involves significant risk, and you should always conduct your own research and consult with a financial advisor before making any investment decisions.
$BEAMX

$BNX

The AXS/USDT trading pair is currently facing a crucial juncture. The critical support level at $4.00 will play a significant role in determining the future trend. While the market sentiment remains bearish, closely monitoring the price action and key technical levels will be essential for traders. Remember, we may potentially be in a bear market, so caution is advised.
#US_Job_Market_Slowdown #SOFR_Spike #BinanceTournament #6thTrade

Jul 4, 2024

According to Beincrypto - Today, about $1.54 billion in Bitcoin (BTCUSD) and Ethereum (ETHUSD) options are set to expire, creating a buzz in the crypto market. This event is expected to lead to significant price swings, so traders and investors are keeping a close eye on the market.
Analysts are predicting that the market will calm down after these options expire.
For Bitcoin, the expiring options are worth $1.04 billion, with 18,339 contracts set to expire. These contracts have a put-to-call ratio of 0.71 and a maximum pain point of $62,000. In options trading, the maximum pain point is the price level where option holders incur the most financial loss. The put-to-call ratio indicates there are more purchase options (calls) than sales options (puts).
$BTC

Ethereum has 162,782 contracts expiring, worth $501.12 million. These contracts have a put-to-call ratio of 0.37 and a maximum pain point of $3,350. According to analysts at Greeks.Live, recent market sell-offs have resulted in significant losses, with Bitcoin dropping to $57,000 and Ethereum to $3,100.
Additionally, data shows that Bitcoin's short-term implied volatility (IV) is up by 10%, and the Deribit Implied Volatility Index (DVOL) is up by 3%. Ethereum's parameters have increased slightly less than Bitcoin's. Skew values suggest a bearish market sentiment.
$ETH

Bitcoin and Ethereum prices have fallen sharply this week. On July 4, Bitcoin dropped from $60,000 to as low as $56,964 today, and is currently trading at $57,037. Similarly, Ethereum fell from $3,304 to $3,060, and is now valued at $3,083, down by 3.4% in the last 24 hours.

“BTC Block put volume is clearly on the rise, the distribution of transactions is more complex, the July 12 58,000 Put is the largest one. Looking at Options Data, whales are not too worried about potential downside risk at the moment and are mainly in the process of adjusting their positions for last week’s quarterly delivery, especially for ETH, where whales are showing low volatility expectations,” the Greeks.Live analysts said.

Experts attribute the recent decline in BTC and ETH prices to increased sell-offs from long-term holders, including governments. BeInCrypto reported that on-chain data shows the German government's crypto wallet moved 3,000 BTC, worth about $174.3 million, to various destinations, including major crypto exchanges like Bitstamp, Kraken, and Coinbase.
While options expirations can cause temporary market disruptions, they usually lead to stabilization. Analysts' insights emphasize the historical trends that traders might consider when planning their strategies. Ultimately, traders should stay alert, using technical indicators and market sentiment to navigate the expected volatility effectively.
$SOL

#OptionTrading #MarketSentimentToday #MarketNews #6thTrade

The recent Litecoin (LTC) chart on the weekly timeframe shows significant bearish signals that traders may want to consider. Let's delve into the key aspects of this chart, focusing on indicators, price action, and the Simple Moving Average (SMA) to provide a deeper understanding. $LTC

1. Price Action & Trendlines
- Acending Trendline: The yellow upward-sloping trendline has been a key support level for Litecoin since late 2018, acting as a cushion for price dips. However, LTC recently broke below this line, suggesting potential weakness.
- Descending Triangle Pattern: A bearish descending triangle has formed, characterized by a horizontal support around the $50-$60 range and a descending upper trendline. This pattern typically signals a potential downward breakout.
2. Support and Resistance Levels
- Support Zone: The purple zone around $20-$30 has historically been a strong support area, marked by previous price consolidations and bounces. If the price continues to fall, this zone could be tested.
- Resistance Levels: Near-term resistance is evident around $80-$100, where the descending triangle's upper boundary converges with recent price peaks.
3. Moving Averages
- SMA 200: The 200-week Simple Moving Average is a crucial long-term indicator often watched by traders. Litecoin is currently trading below the SMA 200, which hovers around the $80-$85 mark. Trading below this level generally indicates a bearish trend.
4. Volume Analysis
- The volume bars indicate diminishing buying pressure, a red flag that could suggest a lack of conviction among bulls and a possible setup for sellers to dominate.
5. Key Indicators
- Moving Averages: The chart shows a bearish crossover where shorter moving averages dip below the longer ones, reinforcing the downtrend.
Given the bearish signals from the price action, the break below the ascending trendline, and trading under the SMA 200, Litecoin appears to be under selling pressure. The descending triangle pattern further supports the view that LTC could experience more downside. Traders should keep an eye on the key support levels and consider short-selling opportunities if the current conditions persist. Always ensure to set stop-losses to manage risk effectively.

This information is intended for informational purposes only and does not constitute financial advice

$BCH
$ETC
#LTCUSDT #MarketSentimentToday #US_Job_Market_Slowdown #IntroToCopytrading #6thTrade

Jul 4, 2024

According to U Today, The cryptocurrency market has been experiencing a significant downturn, leading to massive liquidations and sharp declines in prices. XRP, the seventh-largest cryptocurrency by market capitalization, has not been immune to this sell-off. Over the past 24 hours, XRP’s price has fallen by 6.15%, trading at $0.4517. Despite the bearish market conditions, XRP has seen a remarkable 63% increase in trading volumes, with over $1.55 billion worth of XRP changing hands according to CoinMarketCap data. This surge in trading activity reflects a growing interest in XRP from both buyers and sellers navigating the market’s heightened volatility.
$OM

This surge in trading volume occurs amidst a broader context of market fear and opportunism. As the total liquidations across various digital assets reach $321 million, traders are reacting in diverse ways. Some are liquidating their positions to prevent further losses, while others are seizing the opportunity to accumulate assets at lower prices. XRP's increased trading volume suggests it is attracting significant attention during this period of market instability, potentially positioning itself as a focal point for traders seeking to capitalize on the price fluctuations.
$ZK

Looking ahead, XRP’s price movements are likely to be closely watched by the market. The immediate support levels are between $0.41 and $0.46, where bulls are expected to defend vigorously to prevent further declines. On the upside, the critical resistance level to monitor is the 50-day Simple Moving Average (SMA) at $0.503. If buyers can push XRP above this level, it could signal the start of a strong recovery towards the 200-day SMA at $0.554 and eventually the $0.57 mark. Traders and investors should keep a close eye on these key levels as they navigate the current market conditions.
$XRP

#Xrp🔥🔥 #Market_Update #BinanceNews #6thTrade #layer1layer2

Jul 3, 2024

In a major development for the cryptocurrency mining industry, Riot Platforms has announced a substantial increase in its hash rate, leading to a notable rise in Bitcoin production for June. The company reported a 50% jump in its deployed hash rate, which soared from 14.7 exahashes per second (EH/s) to an impressive 22 EH/s by the end of the month. This surge in computational power was a result of new miner installations at Riot's Corsicana facility and expanded capacity utilization at its Rockdale location.
Jason Les, CEO of Riot Platforms, hailed June as a "historic month" for the company. Les highlighted that the firm not only reached but exceeded its mid-year target, achieving a deployed hash rate of 21.4 EH/s ahead of schedule. This achievement was particularly significant as the majority of the new miners became operational in the closing days of June.


Riot's enhanced hash rate translated into the mining of 255 Bitcoin in June, a 20% increase compared to May. This output, valued at approximately $15.3 million based on current prices, has bolstered Riot’s total Bitcoin holdings to 9,334 BTC, equivalent to about $561.6 million. Unlike previous months, Riot decided to retain all of its newly mined Bitcoin, reflecting a strategic decision to strengthen its cryptocurrency reserves.
Despite this impressive growth, Riot's June Bitcoin production was down by 45% from the same period last year. This decline is attributed to the Bitcoin halving event on April 20, which reduced the block reward by half, directly impacting miners' earnings.
Riot Platforms has now positioned itself as the second-largest Bitcoin miner in the industry, overtaking competitors such as CleanSpark and Core Scientific, both of which have reported hash rates exceeding 20 EH/s. The only company ahead of Riot in hash rate is Marathon Digital, with a leading capacity of 31.5 EH/s.


Looking ahead, Riot is focused on further expanding its mining capabilities. The firm is on track to boost its self-mining hash rate capacity to 31.5 EH/s by the end of 2024. Riot also has ambitious plans to reach a staggering 100 EH/s by 2027, a target that hinges on its potential acquisition of additional MicroBT mining equipment.
The hash rate is a critical metric in the cryptocurrency mining world, representing the total combined computational power used to validate transactions on proof-of-work networks like Bitcoin. Riot's rapid expansion in this area underscores its commitment to remaining at the forefront of the Bitcoin mining sector.
As Riot continues to enhance its infrastructure and capabilities, the company is poised to play a pivotal role in the evolving landscape of cryptocurrency mining.
#BTC☀ #Market_Update #6thTrade #bitcoin☀️

-6thTrade

The ENS token, the native currency of the Ethereum Name Service, is making headlines with its recent explosive performance in the crypto market. Over the past week, ENS has seen a remarkable 36% increase, capturing the attention of both seasoned investors and new entrants to the space. This surge is not just a fleeting moment but could signify a prolonged bullish trend for the token.
$ENS #infrastructure

Price Explosion and Renewed Investor Interest
ENS is revolutionizing the way we interact with blockchain technology by translating complex, machine-readable wallet addresses into simple, human-readable domain names. This innovation has become increasingly vital as more people engage with decentralized applications (dApps) on the Ethereum network.
In the past day alone, ENS has climbed by over 2%, briefly surpassing the $33 mark and currently trading at $31.89, according to data from Coingecko. This upward momentum has placed ENS among the top gainers in the cryptocurrency market, drawing significant attention from investors.
The excitement extends beyond the spot markets into the derivatives sector. Open interest in ENS futures has soared to record highs, exceeding $160 million. This surge indicates a dramatic increase in investor participation and speculation, suggesting that the market anticipates further gains for ENS.
Moreover, the funding rate, which measures the cost of holding futures contracts, has shifted from negative to positive. This shift reflects a growing demand for long positions, where traders bet on price increases. A positive funding rate typically signals a pool of optimistic traders expecting continued price appreciation for ENS.

Technical Analysis: Bullish Signals
From a technical perspective, ENS is demonstrating strong bullish signals. After a period of mixed trends, the token experienced a significant rally on June 30th, pushing its price to a peak of $33.21. This momentum has been maintained, with the Relative Strength Index (RSI) nearing 70, indicating a robust uptrend.
While a high RSI can suggest overbought conditions, it also highlights substantial buying pressure and market enthusiasm. The consistent upward trajectory of ENS, coupled with the high RSI, underscores the token's potential for sustained growth.
Long-Term Prospects and Growth Potential

Several factors are fueling the current optimism around ENS. One of the most anticipated developments is the upcoming ENSv2 upgrade, which promises to enhance the system's efficiency and scalability. This upgrade is expected to bolster investor confidence and attract more users to the ENS ecosystem.
The growing adoption of dApps within the Ethereum network also plays a crucial role. As more applications rely on Ethereum, the demand for user-friendly domain names provided by ENS is likely to increase, driving further interest and investment in the token.
Additionally, ENS benefits from being deeply integrated into the Ethereum network, one of the most robust and widely used blockchains in the world. This foundational strength positions ENS well for future growth as the broader cryptocurrency and blockchain industries continue to expand.
Navigating Potential Risks
While the current outlook for ENS is optimistic, it's important to recognize potential risks. The cryptocurrency market is inherently volatile, and broader market conditions can impact individual tokens. However, the fundamentals supporting ENS – its unique utility, upcoming technical upgrades, and integration with Ethereum – provide a strong basis for continued optimism.
As the crypto landscape evolves, ENS's role in simplifying blockchain interactions and its alignment with the expanding Ethereum ecosystem suggest a promising future. Investors are watching closely, with many seeing ENS not just as a short-term winner but as a long-term asset poised for significant growth.
#US_Inflation_Easing_Alert #altcoins #6thTrade
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With the ENS token's impressive performance and strong fundamentals, the future looks bright. As the crypto community continues to embrace innovations that enhance usability and accessibility, ENS is well-positioned to thrive in this dynamic and rapidly growing market.
$LINK $RNDR

$ADA

Last month’s general market decline has significantly impacted Cardano’s #adausdt price, which is now trading at $0.37 after witnessing an 18% drop over the past 30 days. On-chain data reveals that this price dip has prompted some of Cardano’s biggest holders to scale back their trading activities.
Cardano Whales Seek to Reduce Exposure
Cardano's ADAUSDT has experienced a notable decrease in large transaction volume over the past month. Specifically, the daily count of ADA transactions worth between $1 million and $10 million has dropped by 33%. Similarly, transactions valued at $10 million or more have seen a 24% decline over the same period.
A reduction in large transaction volume indicates a significant decrease in big trades for the asset, often reflecting a shift in investor sentiment from positive to negative. This reluctance to trade may be due to various factors, with changing market sentiment being the most significant.

Weighted Sentiment Confirms Negative Outlook
An assessment of ADA’s weighted sentiment—a metric tracking the positive and negative mentions of an asset on social media—confirms the bearish outlook. At press time, the weighted sentiment value stands at -0.58, indicating a general feeling of negativity among those discussing the asset. A negative weighted sentiment typically precedes a continued decline in an asset’s value, as investors hesitate to trade, leading to decreased demand and subsequent price drops.
Technical Indicators Signal Further Decline
On a daily chart, several key technical indicators highlight the decline in ADA's demand among market participants. The Relative Strength Index (RSI), which measures an asset’s overbought and oversold conditions, has fallen below the neutral line of 50, currently sitting at 34.12. This value indicates that ADA is approaching oversold territory, with selling pressure outweighing buying activity.

Additionally, the Directional Movement Index (DMI) shows increased selling activity since June 12, with the positive index (blue) resting below the negative index (red). This setup signals a bearish market, confirming significant selling pressure.
ADA Price Prediction: Further Losses or Potential Rebound?
If the sell-offs continue, ADA’s value may dip to $0.35. However, a shift in sentiment from negative to positive could spark increased buying pressure, potentially driving the price up to $0.41.

Investors are closely monitoring these indicators to gauge the next move, with market sentiment playing a crucial role in ADA's price trajectory. As the market continues to evolve, the coming weeks will be critical in determining whether ADA can rebound or if further losses are on the horizon.
$CFX $SOL


#CryptoTradingGuide #6thTrade #layer1layer2 #ChartAnalysis