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CryptoGalaxy01
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WHY IS THE CRYPTO MARKETE DOWN TODAY? Over the last 24 hours, the total market cap (TOTAL) and #Bitcoin price lost a key support level on the daily chart. While some altcoins witnessed notable rallies, many, like $BONK registered considerable drawdowns. After days of showing signs of closing above the $2.50 trillion mark, the combined value of all crypto assets fell below it. The total market cap now stands at $2.46 trillion, the lowest point in nearly ten days. The next critical support is at $2.39 trillion; a drawdown to this point would mean a 2.5% dip, which is possible. This is because the #ichimoku Cloud exhibits bearishness despite being below the #candles $BTC #btc70k #altcoins

WHY IS THE CRYPTO MARKETE DOWN TODAY?

Over the last 24 hours, the total market cap (TOTAL) and #Bitcoin price lost a key support level on the daily chart. While some altcoins witnessed notable rallies, many, like $BONK registered considerable drawdowns.

After days of showing signs of closing above the $2.50 trillion mark, the combined value of all crypto assets fell below it. The total market cap now stands at $2.46 trillion, the lowest point in nearly ten days.

The next critical support is at $2.39 trillion; a drawdown to this point would mean a 2.5% dip, which is possible. This is because the #ichimoku Cloud exhibits bearishness despite being below the #candles

$BTC #btc70k #altcoins

Avertissement : comprend des opinions de tiers. Il ne s’agit pas d’un conseil financier. Peut inclure du contenu sponsorisé. Consultez les CG.
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$BNB Price Analysis: Amid the last two weeks of market consolidation, the #BNB price showed notable resilience above the $586 support. With the #Bitcoin price teasing a breakout from the $70000 level today, the #altcoins market witnessed a bullish uptick. Thus, Binance coin price jumped over 5% hinting at a potential breakout from 11 weeks of consolidation. Should you enter this breakout Since mid-March, the #Binance coin price has traded sideways resonating within the two converging trendlines of a symmetrical triangle pattern. The coin price rebounded at least twice from both ends indicating the buyers or sellers showed no initiation towards this asset. Amid the recent market jump, the BNB price gave a decisive breakout from the pattern’s upper resistance. Currently, the Binance coin trades at $625, while the market cap boasts to $92.1 Billion. However, the price sustainability above the breached trendline in the coming days is crucial for BNB coins. If the pattern holds true, the buyers could drive a rally to a new high of $691, followed by $766. On a contrary note, if the supply pressure at the overhead trendline reverts the price back to a triangle, the bullish thesis will be invalidated. If this happens, the BNB price could prolong its consolidation for more weeks to months. #btc70k $BTC
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$BTC PRICE ANALYSIS #Bitcoin dipped below the support line of the symmetrical triangle pattern on May 31, but the bears could not sustain the lower levels. This suggests that the bulls continue to buy on dips. The bulls will have to push and maintain the price above the triangle to gain the upper hand. If they do that, the #BTC☀ could rise to the overhead resistance of $73,777. The bulls may find it difficult to overcome this barrier. But if they do, the pair could surge to $80,000. Contrarily, if the #BULLS fail to achieve a strong rebound off the current level, it will increase the likelihood of a break below the triangle. The pair might then touch to the 200-EMA ($66,518) and then to $64k-65k resistance. On the Other hand, Bitcoin price action could remain sideways for longer, but $BNB AR #XMR/USDT and $TIA may see some short-term gains. #StartInvestingInCrypto
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$LINK The #LINK🔥🔥🔥 4H chart as seen on TradingView reveals that the token is trading above its 200 moving averages, and above the 17.50 support trendline which is retested by the link shows bullish showcase. #Chainlink the dominant Ethereum-based oracle protocol, is standing its ground against market bears at a time when the broader digital currency ecosystem is seeing a negative reversal. CoinMarketCap data shows LINK is up by 3.18% in 24 hours to $18.54, a figure that compares to the 0.62% drop in the combined market cap. While its daily growth rate is impressive compared to that of Bitcoin (BTC) and other top altcoins, Chainlink’s 14.74% surge in volume places it on the right path for more potential surges. A total of $445,393,986 in LINK has been shuffled in between exchanges lately, placing the token as the 21st most traded in the market. Over the past month, market data reveals Chainlink has printed 36.46% growth. Many trends have contributed to this major uptick in Chainlink, and beyond regular whale shifts, this primarily hinges on its value addition and the niche it occupies in the industry. #altcoins #BTC☀ #StartInvestingInCrypto
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$XRP Over the last several days, the price of XRP, a cryptocurrency that investors keep a close eye on, has taken a dip. It is currently finding support at the 50-day Simple Moving Average (SMA), which is around 52.10 cents. Determining its short-term trajectory depends critically on this support level. If #Xrp🔥🔥 breaks above the 200-day EMA shown in pic which is also at 55.70 cents, and surpasses its prior high of 55.70 cents, there will be a notable price rise. This movement would suggest a positive trend and might lead to more #BuyingOpportunity and pressure. A long position can be considered by investors if XRP closes above the 200-day EMA. With 61 cents being the next resistance level, a stop loss should be placed below the 50-day EMA. Investors may think about shorting XRP with a stop loss right above the 200-day EMA to target lower price levels if the cryptocurrency cannot break above the 200-day #EMA. #altcoins #StartInvestingInCrypto
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The five-month-old dog-themed #memecoin🚀🚀🚀 dogwifhat $WIF has recorded an impressive price surge amid marketwide bullish sentiment while some traders expect a downfall. WIF is up by 14% in the past 24 hours and is trading at $3.85 . The meme coin briefly touched an intraday high of $4.05 earlier today — a level last seen in early April. WIF’s market cap is sitting at $3.85 billion, making it the 28th-largest #cryptocurrency at the reporting time. When an asset’s open interest suddenly surges, high price volatility is usually expected due to potential liquidations. #btc70k #altcoins #wifhatdog
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