Bitcoin continues to systematically decline, the local minimum is now located at around 64K , below the broken #IchimokuCloud , support zone, Pivots P level and moving averages❗

Taking into account all the broken levels, the next target for the fall will be the S2 Pivots level, about 62K, and only then the important support zone within 60K.

⚠ There are no prerequisites for a reversal. To do this, the price will need to break above 67K and gain a foothold there. Until then, the priority is further decline.
#AirdropGuide #altcoins #BTC #bitcoin

🚀 Polkadot (DOT) Price Rally: Bullish Momentum Battles Correction 🚀

May 18, 2024

📈 Polkadot (DOT) has been making waves in the crypto market! Breaking above the 4-hour Ichimoku cloud, Polkadot is showing strong bullish momentum. As it approaches the lower boundary of the daily Ichimoku cloud, we could see continued price appreciation towards $8! 🌟

📊 Technical Outlook: Polkadot's breakout above the 4-hour Ichimoku cloud signals potential bullish momentum. However, traders should keep an eye out for a pullback into the cloud, which could indicate a trend reversal.

📉 On-Chain Data: Despite the bullish technicals, Polkadot is facing some challenges. The number of new addresses on the Polkadot Relay Chain has dropped for two consecutive months, a bearish sign indicating struggles in attracting new users. Additionally, active addresses have declined, suggesting reduced user engagement and network activity.

📉 Transfer Volumes: The 7-day moving average (7DMA) of daily transfers on the Polkadot Relay Chain shows a significant downward trend. Since peaking at nearly 40,000 daily transfers in January 2024, the volume has steadily decreased, which could impact the demand for the DOT token.

⚖️ Strategic Outlook: Polkadot’s recent price surge is influenced by broader market movements, especially Bitcoin’s rise. Speculative activities around Polkadot’s derivatives on centralized exchanges have also contributed to the price increase. However, the decline in new and active addresses and reduced transfer volumes highlight potential risks.

📢 Neutral Outlook: While the technical indicators point towards bullish momentum, traders should remain cautious of on-chain data suggesting declining user engagement.

👉 Stay tuned for more updates! Follow us for the latest insights and consider tipping to support our team as we bring you detailed analysis and timely information on the crypto market. Your support helps us keep you ahead of the game! 👈
#Polkadot #DOT #CryptoAnalysis #IchimokuCloud #Blockchain $DOT