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â ď¸ PEPE Coin Encounters Local Resistance Last month, Pepe Coin (PEPE) captured attention with consecutive all-time highs despite uncertain market conditions. However, following a recent recovery, PEPE has faced local resistance, indicating that the coin might establish a range. On-chain data reveals a gradual increase in selling pressure. đ¸ PEPE Coin Price Prospects In the latter half of May, PEPE experienced higher sales volumes. By mid-June, the Chaikin Money Flow (CMF) indicator dropped below -0.05, suggesting a notable capital outflow. This hinted at a possible price decline in May, potentially lowering PEPE to $0.0000089, erasing prior gains. Market bulls, however, have fiercely defended the $0.0000107 mark, representing a 78.6% retracement. Despite this, the 50% retracement level at $0.000013 was not upheld. Although the CMF indicator turned positive, the Relative Strength Index (RSI) stayed neutral around the 50 mark. đ¸ Will PEPEâs Price Decline? The liquidity heatmap is essential for PEPEâs future movements. Data from the past three months identifies a significant liquidation zone between $0.000008 and $0.000009. The 50% Fibonacci retracement level acts as resistance against declining to this zone. Liquidity in the market shifts based on investor positions. Should bulls maintain their strength and Bitcoin (BTC) performs well, PEPE might return to $0.000018. Recent data indicates short positions gaining ground over long positions, potentially signaling a short squeeze and a sharp price rise. Key liquidation zones for PEPE include $0.0000122 and $0.0000134. đ¸ Actionable Insights â Monitor the CMF indicator for capital inflow or outflow signals. â Watch for price movements around the $0.0000107 and $0.000013 levels. â Keep an eye on the liquidity heatmap to identify potential liquidation zones. â Consider short squeeze potential if short positions increase sharply. $PEPE #PEPE
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đĽ Bitcoin Bulls Advance Price, Face Resistance at $64K The price of bitcoin (BTC) hit an intraday peak of $63,794 on Monday, reflecting a 2% gain against the U.S. dollar in the past 24 hours. Currently, BTC is trading at $63,070 per unit. The dayâs upward movement led to $124.64 million in crypto short and long liquidations, with bitcoin shorts comprising $49.85 million. đ¸ $49M in Bitcoin Short Liquidations as Resistance Hits Bitcoinâs value against the dollar has climbed over the last day. By 2 p.m. EDT on Monday, BTC surged to $63,794 before encountering resistance. Across the entire crypto market, $72.56 billion has been traded, marking a 54.07% increase in 24 hours. Approximately 38.21% of the total, or $27.73 million, comes from BTC trades. According to cryptoquant.com metrics tracking the premium in South Korea, thereâs been a 1.8% to 1.5% premium on BTC prices since June 28. Bitcoin is trading for $64,174 on Upbit, while the global average is $63,070. On July 1, the premium on Upbit and Bithumb is about 1.75%. The dayâs oscillators and moving averages indicate a bullish trend. Metrics from derivatives markets via coinglass.com indicate that $124.64 million in liquidations occurred across the entire crypto market. About $49.85 million worth of short positions against BTC were wiped out. Approximately $27.17 million in shorts stemmed from ETH, and SOL shorts saw $6.75 million liquidated. The largest single liquidation order occurred on Binance, resulting in a BTC/USD liquidation order wiping out $4.39 million. In the past 24 hours, 37,533 traders across the entire crypto market were liquidated. After dropping to a low of $63,070 per BTC, the leading crypto asset bounced back to $63,265 at 4 p.m. EDT, as a $63K floor begins to form. Whether this support level holds or BTC climbs higher remains uncertain. $BTC #BTC
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Avalanche (AVAX) Price Rises as Whales Accumulate Avalancheâs (AVAX) price hit a multi-month low following bearish market conditions, but this did not last long. Increased bullish whale activity and improved market conditions substantiate the potential for recovery. Avalanche Whales Attempt to Influence the Price Avalancheâs price could be benefitting largely from the bullishness exhibited by the whales. These large wallet holders have been on an accumulation spree over the last two weeks. Since whale addresses are some of the most important cohorts of investors, their move also influences the price action. Accumulation leads to a rise in price, whereas selling results in a drawdown. During this time, the whale addresses acquired $139 million worth of AVAX in just one day. This buying spree indicates strong interest and confidence among large investors in the altcoinâs potential. In addition to this substantial whale activity, AVAXâs correlation to Bitcoin remains strong, currently standing at 0.88. A high correlation often suggests that AVAXâs price movements will closely follow those of BTC. Given Bitcoinâs recent recovery, AVAXâs strong correlation to BTC bodes well for its own recovery prospects. As Bitcoin continues to rise, it is likely that the altcoin will experience similar upward momentum. AVAX Price Prediction: Rise in Sights Avalancheâs price trading at $29.61 is closing in on the critical resistance level at $31.15. This price has tested as a crucial support level multiple times in the past and flipping it into support again is the target. Given that AVAX has already bounced back from a seven-month low of $24.40, there is a good chance it could breach $31 as well. However, the marketâs volatility cannot be ruled which keeps this recovery vulnerable. If the support at $24.40 is lost, the bullish thesis could be invalidated completely, leading to Avalancheâs price dropping to $20. $AVAX #AVAX
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đĽ Polkadot treasury holds $245M but faces revenue decline and two-year runway The Polkadot Treasury holds assets equivalent to 38 million DOT, worth approximately $245 million. Head Ambassador Tommi Enenkel, popularly known as Alice and Bob, shared a new report providing the latest update on the networkâs treasury. This balance equates to about two years of the runway at its current spending rate. The report stated: âAt the current rate of spending, the Treasury has about two years of runway left, although the volatile nature of crypto-denominated treasuries makes it hard to predict with confidence.â đ¸ Polkadotâs first six months of spending During the first six months of this year, Polkadot invested heavily in its ecosystem, spending 11 million DOT, valued at around $87 million, across various projects. According to the report, the network invested about $37 million in Outreach activities such as advertisements, sponsorships, and events. The network signed sponsorship deals with race car driver Conor Daly and also pushed several marketing activities designed to bolster the networkâs adoption by the broader global community. Polkadot also spent $23 million developing its network features and upgrades, including SDK, Data Services and Indexing, Governance, and Subwallets. Moreover, the network invested $15 million in liquidity incentives and $5.5 million in Talent and Education. Additionally, it spent $3.8 million to maintain the network and core ecosystem components, and another $2.1 million went towards Research. đ¸ Revenue decline The report highlighted a decline in Polkadotâs revenue. During the first six months of the year, the networkâs total earnings dropped to 171,696 DOT from 414,291 DOT, recorded in the second half of 2023. Enenkel attributed this decline to the significant drop in network fees, which fell from 313,443 DOT last year to 39,444 DOT in the 2024 first half. $DOT #DOT #Polkadot
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đŁ Bitcoin Nears $64,515 Resistance: Will A Breakthrough Ignite A Bullish Run? Bitcoin (BTC) is on the brink of a significant price movement as it approaches the crucial resistance level of $64,515. The cryptocurrency asset has been experiencing an upward trend, gaining momentum and investor confidence. Breaking through this key resistance could act as a catalyst for a major rally, potentially pushing BTC to new heights. Traders and market analysts are closely monitoring this level, as a successful breach could signal a strong bullish phase and attract increased trading activity, further driving up the price. This article aims to provide an in-depth analysis of Bitcoinâs current price movement as it nears the significant resistance level of $64,515. It seeks to explore the potential market implications of breaking through this key threshold, including the likelihood of igniting a substantial rally. Furthermore, it examines technical indicators, market sentiment, and historical data to offer readers a comprehensive understanding of what this resistance level means for Bitcoinâs long and short-term price trajectory. With a market capitalization of more than $1.2 trillion and a trading volume of more than $21 billion as of the time of writing, the price of Bitcoin is currently down by 3.26%, trading at around $63,300 in the last 24 hours. BTC market cap and trading volume are currently up by 3.03% and 77.17% respectively. đ¸ Current Market Overview Of Bitcoin Upward Trend Currently, on the 4-hour chart, the price of BTC is on a bullish rise and attempting a cross above the 100-day Simple Moving Average (SMA) with strong bullish momentum. Also, it can be noticed that the crypto asset has broken above the 4-hour bearish trend line. The formation of the 4-hour Composite Trend Oscillator also signals bullishness for Bitcoin as both the signal line and the SMA of the indicator are attempting to cross above the zero line. $BTC #BTC
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