The total crypto market cap continues to oscillate between $1.38 trillion and $1.42 trillion.
Today, however, the market has improved slightly and is up by 1.36% to $1.38 trillion.
Naturally, this translates into greens, and this is what the market looks like at the moment:
Interestingly enough, the total amount of liquidations has declined drastically. Most likely because fewer people trade during the weekends.
This figure sits at around $64.59 million, with the bulls ($34 million) somehow losing more than the bears ($30 million) despite the market’s greens.
Bitcoin Continues Consolidating, Despite 1% Gains
Over the last day, Bitcoin has rallied by as much as 1%. However, the cryptocurrency still remains stuck in its consolidation between $32,800 and $38,000.
The lower trendline of the ascending trendline illustrated above is also reinforced by Bitcoin's 25-day moving average.
This means that Bitcoin absolutely has to stay above this trendline to avoid a drastic drop to $32,800 or lower.
Ethereum Hangs On A Ledge: Bounce Or Breakdown?
Just like Bitcoin, Ethereum is also hanging on a ledge above its 25-day moving average.
As pictured above, Ethereum is currently testing support around both the aforementioned moving average, and the $1,930 zone.
This presents a sticky situation of sorts. Because if Ethereum breaks below both the $1,930 support and its 25-day moving average, we are bound to see a price decline that brings Ethereum straight down to $1,750 or its 99-day moving average.
Worldcoin Pumps On Altman’s Exit
A few days ago, news hit the internet that the CEO of OpenAI, Sam Altman was being removed from his position as head of the company. Altman is also the CEO of another company called Tools For Humanity, which is also the issuer of Worldcoin.
Apparently, the news of Altman’s removal has affected Worldcoin to some extent, making it the 4th hottest cryptocurrency on Binance, as well as the 2nd largest gainer, with a 26.77% gain over the last day.
Worldcoin has been trading inside an ascending channel since mid-September this year and has ascended into a retest of this formation's upper trendline. Overall, the $2.5 - $2.53 zone is an important zone to watch out for, in case of a possible breakout.
Higher Lows On Solana
Solana, after an initial rejection from the $65 zone, appears to be making higher Lows.
The bulls were able to keep Solana from falling below $51.6 yesterday. Because of this, Solana has formed a new higher low of around $54.27. This means that we can expect a new high above $68.2 over the next few days as Solana forms a new higher high. $75, here we come!
Render (RNDR): Watch Out For The Weekly Candle
Below, we have Render’s weekly candlestick.
As pictured above, Render spent the week breaking above $3.1. With the weekly candle close expected sometime today, Render will finally have a chance to cement its position atop $3.1 and convert this zone into support.
We can expect a lot more bullishness from Render if the weekly candlestick closes above this new support, and a possible rally to $4.2 at least, if all goes well.
