Like other altcoins, the price has fallen quickly and seems non stop.
What's next? 🤔
As you probably know, I am a huge believer in @graphprotocol
I have already discussed its potential extensively (see the attached thread).
Therefore, in my view "Every dip is a gift" 💎
However, the trader part of me knows that the price is now in a critical zone.
What I am expecting ( hoping (?) ) is that the price will quickly deviate below the historical support level of $0.15 before coming back up to around $0.20.
This is a major resistance level that separates a healthy correction from a bearish fall.
Below $0.15 will still be a good place for spot orders and DCA if you plan to #hold long term.
DEXs are quietly gaining ground on centralized exchanges! They are becoming the preferred choice for many traders, offering greater transparency, anonymity (no KYC), and control over your assets.
ApeXdex is one of the rapidly rising platforms (backed by one of the big player in the space) which is offering a similar trading experience and user interface. ApeX is now hosting its first-ever trading competition on ApeX Omni, distributing up to 3 billion $KONG (their new #memecoin token) in rewards to all participants( $KONG will be launching soon on #Solana )🚀
All you have to do is sign up for the trading competition and start trading between now and August 15th.
Looking at the D chart, it's clear how the price faced significant resistance at 0.136$ level. From that level the price retraced back till 0.125$, losing bullish momentum.
Can we consider this as an "Healthy" correction necessary to get to higher levels?!
Well,despite the D price action not looking very good, the weekly setup remains bullish. A retest at 0.12 is now likely to happen.
From the reaction to that level, we will understand how the price will behave in the upcoming months. (Remember that the M closing is just behind the corner!) As always, no rush! Patience ⏳️
The price action of $MNT is showing signs of a potential breakdown on the 4H TF. Here are the key support areas to watch:
_~$0.73 (W) This is a significant weekly support level. If the price approaches this level, it could serve as a strong support area where buyers might step in. _~$0.69: This is another important support level. If the price breaks below the $0.73 level, the next major support to watch would be around $0.69.
Monitor these levels closely as they are potential areas where the price might bounce and reverse. If these supports fail to hold, it could indicate further bearish momentum for $MNT.
The price action of $MNT is showing signs of a potential breakdown on the 4H TF. Here are the key support areas to watch:
_~$0.73 (W) This is a significant weekly support level. If the price approaches this level, it could serve as a strong support area where buyers might step in. _~$0.69: This is another important support level. If the price breaks below the $0.73 level, the next major support to watch would be around $0.69.
Monitor these levels closely as they are potential areas where the price might bounce and reverse. If these supports fail to hold, it could indicate further bearish momentum for $MNT.
Looking at the D chart, it's clear how the price faced significant resistance at 0.136$ level. From that level the price retraced back till 0.125$, losing bullish momentum.
Can we consider this as an "Healthy" correction necessary to get to higher levels?!
Well,despite the D price action not looking very good, the weekly setup remains bullish. A retest at 0.12 is now likely to happen.
From the reaction to that level, we will understand how the price will behave in the upcoming months. (Remember that the M closing is just behind the corner!) As always, no rush! Patience ⏳️
Just look at the chart and yesterday's candle wick. The price has scooped up some liquidity around 60k and looks ready to attack the higher levels of 70-75k.
Price action is enclosed in a range, which resembles a bullish flag pattern. This type of trend usually breaks to the upside.
Let's see how it unfolds 👀
I will wait for the monthly closing coming next week to get a clearer picture. Trading has been quite good recently, so there's no rush at all.
According to #arkham $2.47B $BTC have been moved ⚠️
Mt. Gox still holds an incredible amount of bitcoin ( around 80,128 BTC almost $5.35 billion).
This morning, Mt. Gox transferred a total of $2.47 billion in BTC to new wallets in order to distribute 5,106 BTC ( about $336 million) to 4 separate Bitstamp addresses.
Bitstamp is one of the 5 exchanges that the Mt. Gox Trustee is working with to return funds to Mt. Gox creditors. So far, Mt. Gox has sent 10,216 BTC ($675.9 million) to Bitstamp.
Be careful if you are trading in leverage. Dumping so many $Btc on the market will have clear implications on crypto and PA 🚨⚠️ What do you think will happen ? 👇
MONDAY MORNING THOUGHTS ☕️ One of the upcoming narratives in the crypto space is undoubtedly going to revolve around AI. It's clear almost to everyone. But what about other implications coming with AI?Which other areas might be impacted? Among many obvious areas like big data, computing power and decentralized storage ($AR 👀) one thing became super clear: AI needs Infrastructure and interconessions for sourcing data and for optimizing output. And that's where #IoT , the Internet of Things, steps in.
Every IoT network is essentially comprised of two elements: 1. IoT devices that collect data about the world and interact with it. 2. The technological infrastructure enabling these devices to communicate thanks to the #LoRaWAN communication technology. Long-range communication with low power consumption 📶 It will be an inevitable sinergy as they complement each other. And that is not just my opinion, let's look at some numbers ! Projections for the Internet of Things (IoT) in the coming years foresee substantial growth, with estimates indicating a connectivity of almost 30 billion devices by 2027. (Source: IOT analytics "State of IoT—Spring 2023").
Consequently, the IoT market value is expected to reach significant figures. Taking all of these into consideration, I am planning to update my portfolio with some IoT products and low cap. $HNT is already in, but the project seems stagnant (first signs of recovery now ? 🤔)
I am currently directing my attention towards other projects like $IOTA , $XNA, and $CTXC . Let me know what you think and if you are currently hodling some IoT projects👇
Are we seeing the first signs of a trend reversal?
In the recent weeks price has strongly retraced back from 0.01$ level and dipped below the historical support zone around $0.004.
This week's closing is now crucial.
Why is this important?
Monthly closing is just behind the corner. Recovering the blue box will be an important and essential signal to regain bullish momentum. If this happens and we manage to hold it, reaching $0.007 in the short term is more than possible, which would be an +80% increase. Otherwise, we will continue to average at lower levels.