LIVEGreen Gorilla
@gorillacap
GreenGorilla here, aka GorillaCap. Crypto enthusiast, I research and share investment strategies and trends. Let's connect!
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Post-Halving Analysis: Why is Bitcoin Stagnating Despite Positive News?
The Bitcoin halving took place on April 20, 2024, approximately two months ago. Since then, the price of $BTC has fluctuated, first dropping, then rising, and now returning to its initial level. For short and medium-term investors, this period can feel long, especially given the influx of positive news that reinforces Bitcoin's investment potential.
The approval of ETFs (Exchange Traded Funds) is one such positive development. These ETFs allow traditional investors to own Bitcoin through conventional financial institutions without having to use cryptocurrency exchanges. Despite this advancement and the halving, it is surprising to see prices stagnate.
Currently, the daily RSI (Relative Strength Index) for BTC is near 0, and we are on a weekly support zone. This situation is causing impatience among some investors, who are redirecting their assets to other sources of income, such as the stock market.
Major players like MicroStrategy have bought hundreds of millions of dollars worth of Bitcoin at prices higher than today's. Although they are holding onto their bitcoins, the question remains: why isn’t the price increasing?
American inflation and Fed policies alone cannot explain this stagnation. The correlation between US economic announcements and Bitcoin's value is well known. Despite the good news, like the growing acceptance of ETFs, the lack of spectacular price movements could disinterest small investors, contributing to the market's stagnation.
Historically, in previous halving cycles, bull runs (significant price increases) began on average about 100 days after the halving, or a little over three months. Currently, two months have passed since the last halving without significant price movement in Bitcoin. However, altcoins (alternative cryptocurrencies) have seen spectacular movements, profitable for some investors but disappointing for others who expected a more generalized market rise.
The approval of ETFs could have opened new opportunities for altcoins, but instead, we are seeing a return to more solid fundamentals. Major cryptocurrencies like $AVAX and Solana $SOL saw significant gains before April but have declined since the halving, as have meme coins (cryptocurrencies without intrinsic value), which have often been wiped off the market.
Despite these fluctuations and current uncertainty, I remain convinced that the true start of the bull run for BTC could begin between August and September. Currently, Bitcoin seems to be following a technical pattern of range trading (oscillation within a price range) for about 100 days after the halving, before starting a significant rise.
The approval of ETFs (Exchange Traded Funds) is one such positive development. These ETFs allow traditional investors to own Bitcoin through conventional financial institutions without having to use cryptocurrency exchanges. Despite this advancement and the halving, it is surprising to see prices stagnate.
Currently, the daily RSI (Relative Strength Index) for BTC is near 0, and we are on a weekly support zone. This situation is causing impatience among some investors, who are redirecting their assets to other sources of income, such as the stock market.
Major players like MicroStrategy have bought hundreds of millions of dollars worth of Bitcoin at prices higher than today's. Although they are holding onto their bitcoins, the question remains: why isn’t the price increasing?
American inflation and Fed policies alone cannot explain this stagnation. The correlation between US economic announcements and Bitcoin's value is well known. Despite the good news, like the growing acceptance of ETFs, the lack of spectacular price movements could disinterest small investors, contributing to the market's stagnation.
Historically, in previous halving cycles, bull runs (significant price increases) began on average about 100 days after the halving, or a little over three months. Currently, two months have passed since the last halving without significant price movement in Bitcoin. However, altcoins (alternative cryptocurrencies) have seen spectacular movements, profitable for some investors but disappointing for others who expected a more generalized market rise.
The approval of ETFs could have opened new opportunities for altcoins, but instead, we are seeing a return to more solid fundamentals. Major cryptocurrencies like $AVAX and Solana $SOL saw significant gains before April but have declined since the halving, as have meme coins (cryptocurrencies without intrinsic value), which have often been wiped off the market.
Despite these fluctuations and current uncertainty, I remain convinced that the true start of the bull run for BTC could begin between August and September. Currently, Bitcoin seems to be following a technical pattern of range trading (oscillation within a price range) for about 100 days after the halving, before starting a significant rise.
Evaluating the Stability and Growth Potential of Pendle (PENDLE)
Introduction to Pendle (PENDLE)
Pendle (PENDLE) is a DeFi protocol that focuses on the tokenization and trading of future yields. The primary innovation of Pendle lies in its ability to separate and trade the principal and yield components of yield-bearing assets. This allows users to manage their future returns more flexibly and strategically.
How Pendle Works
Pendle operates by allowing users to deposit yield-generating assets, such as tokens from lending protocols like Aave. These deposits are then split into two types of tokens:
Principal Token (PT): Represents the claim to the original deposited asset.Yield Token (YT): Represents the claim to the future yield generated by the deposited asset.
Both PTs and YTs have expiry dates by which the original asset and the earned yield must be claimed. Users can trade YTs to either lock in fixed yields upfront or speculate on future yield movements. This is facilitated by Pendle's unique Automated Market Maker (AMM), which pairs PT with SY (the staked yield-bearing token) and uses flash swaps to enable YT trades through a single liquidity pool.
Tokenomics
The native cryptocurrency of the Pendle protocol is the PENDLE token. It serves multiple purposes:
Incentives and Utility: Used for staking, providing liquidity, and earning rewards.Governance: Future implementation includes staking PENDLE to acquire vePENDLE, which grants voting rights on protocol proposals.
The total supply of PENDLE is 258,446,028, with a circulating supply of approximately 238,185,588. The token distribution is as follows:
Team: 22%Investors: 15%Ecosystem Fund: 18%Liquidity Incentives: 37%Liquidity Bootstrapping: 7%Advisors: 1%
Key Features and Use Cases
Yield Farming: Users can leverage their yield-bearing assets to earn rewards, optimizing their earning potential.Governance: PENDLE holders can participate in the protocol’s decision-making processes, ensuring a decentralized approach to development.Liquidity Provision: By contributing to liquidity pools, users facilitate smoother transactions and trading of future yield tokens, earning transaction fees in the process.
Pendle has seen significant technical developments and partnerships, enhancing its ecosystem and increasing its adoption. The protocol underwent rigorous audits to ensure security and reliability. It has also been listed on major exchanges, improving accessibility and liquidity
Technical Analysis of Pendle (PENDLE) - June 19, 2024
In recent days, many altcoins have experienced significant losses. However, Pendle has maintained its upward trend, showcasing resilience and potential for continued growth.
Key Technical Observations
Daily Chart:Trendline Support: Pendle has rebounded precisely at its upward trendline, which aligns with the 0.786 Fibonacci retracement level. This indicates strong support and a continuation of the bullish trend.MA50: The current price is above its 50-day moving average (MA50), suggesting continued bullish momentum and stability amidst market volatility.Market Sentiment:Despite the broader market capitulation, particularly in meme coins, Pendle has shown strength. This resilience highlights the project's robustness both technically and fundamentally.
Conclusion
Pendle stands out in the DeFi space with its unique approach to managing and trading future yields. Its ability to maintain a bullish trend and support levels, even during broader market downturns, underscores its potential as a long-term investment. For those looking to invest in a stable and innovative DeFi project, Pendle presents a compelling opportunity. However, as always, it is crucial to remain vigilant and monitor key price levels and market developments.
Community Poll:
Which of these cryptocurrencies do you trust the most for long-term investment?
$BTC $ETH $PENDLE
Share your thoughts and reasons in the comments below!
Pendle Daily Chart
Pendle (PENDLE) is a DeFi protocol that focuses on the tokenization and trading of future yields. The primary innovation of Pendle lies in its ability to separate and trade the principal and yield components of yield-bearing assets. This allows users to manage their future returns more flexibly and strategically.
How Pendle Works
Pendle operates by allowing users to deposit yield-generating assets, such as tokens from lending protocols like Aave. These deposits are then split into two types of tokens:
Principal Token (PT): Represents the claim to the original deposited asset.Yield Token (YT): Represents the claim to the future yield generated by the deposited asset.
Both PTs and YTs have expiry dates by which the original asset and the earned yield must be claimed. Users can trade YTs to either lock in fixed yields upfront or speculate on future yield movements. This is facilitated by Pendle's unique Automated Market Maker (AMM), which pairs PT with SY (the staked yield-bearing token) and uses flash swaps to enable YT trades through a single liquidity pool.
Tokenomics
The native cryptocurrency of the Pendle protocol is the PENDLE token. It serves multiple purposes:
Incentives and Utility: Used for staking, providing liquidity, and earning rewards.Governance: Future implementation includes staking PENDLE to acquire vePENDLE, which grants voting rights on protocol proposals.
The total supply of PENDLE is 258,446,028, with a circulating supply of approximately 238,185,588. The token distribution is as follows:
Team: 22%Investors: 15%Ecosystem Fund: 18%Liquidity Incentives: 37%Liquidity Bootstrapping: 7%Advisors: 1%
Key Features and Use Cases
Yield Farming: Users can leverage their yield-bearing assets to earn rewards, optimizing their earning potential.Governance: PENDLE holders can participate in the protocol’s decision-making processes, ensuring a decentralized approach to development.Liquidity Provision: By contributing to liquidity pools, users facilitate smoother transactions and trading of future yield tokens, earning transaction fees in the process.
Pendle has seen significant technical developments and partnerships, enhancing its ecosystem and increasing its adoption. The protocol underwent rigorous audits to ensure security and reliability. It has also been listed on major exchanges, improving accessibility and liquidity
Technical Analysis of Pendle (PENDLE) - June 19, 2024
In recent days, many altcoins have experienced significant losses. However, Pendle has maintained its upward trend, showcasing resilience and potential for continued growth.
Key Technical Observations
Daily Chart:Trendline Support: Pendle has rebounded precisely at its upward trendline, which aligns with the 0.786 Fibonacci retracement level. This indicates strong support and a continuation of the bullish trend.MA50: The current price is above its 50-day moving average (MA50), suggesting continued bullish momentum and stability amidst market volatility.Market Sentiment:Despite the broader market capitulation, particularly in meme coins, Pendle has shown strength. This resilience highlights the project's robustness both technically and fundamentally.
Conclusion
Pendle stands out in the DeFi space with its unique approach to managing and trading future yields. Its ability to maintain a bullish trend and support levels, even during broader market downturns, underscores its potential as a long-term investment. For those looking to invest in a stable and innovative DeFi project, Pendle presents a compelling opportunity. However, as always, it is crucial to remain vigilant and monitor key price levels and market developments.
Community Poll:
Which of these cryptocurrencies do you trust the most for long-term investment?
$BTC $ETH $PENDLE
Share your thoughts and reasons in the comments below!
Pendle Daily Chart
Identifying Stable Cryptocurrencies in a Bearish Market: BTC, ETH, and BNB
Introduction
In the current bearish environment of the cryptocurrency market, only a few tokens maintain strong support levels. For long-term investors looking for stability and resilience, certain cryptocurrencies stand out. This article provides an overview of why Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) remain strong compared to other tokens and explores their current technical standings.
Analysis
In a generally bearish market for cryptocurrencies, BTC, ETH, and BNB are showing significant signs of stability. Here’s why these tokens are worth considering for long-term investment:
1. Bitcoin (BTC)
Overview: Bitcoin, being the pioneer cryptocurrency, has always been a reliable indicator of the market's health. Its proof-of-work mechanism ensures a stable and secure network.Current Performance: Bitcoin continues to trade above its 50-day moving average (MA50) and remains within or above its Ichimoku cloud. This positioning indicates that Bitcoin is maintaining a bullish trend despite the market downturn.
2. Ethereum (ETH)
Overview: Ethereum, the second-largest cryptocurrency by market capitalization, supports a vast array of decentralized applications (dApps) and smart contracts, reinforcing its value.Current Performance: Ethereum is also maintaining its position above the MA50 and within the Ichimoku cloud. This suggests that ETH continues to show upward momentum and stability, supported by its robust network activities and upcoming technological upgrades.
3. Binance Coin (BNB)
Overview: Binance Coin, the native token of the world’s largest cryptocurrency exchange, benefits from its wide range of uses within the Binance ecosystem, including transaction fee discounts, staking, and various DeFi applications.Current Performance: BNB remains strong, trading above its MA50 and within the Ichimoku cloud, which indicates continued investor confidence and usage within the Binance platform.
Observations on Other Tokens
In contrast, many other tokens have struggled to maintain their support levels. Most have fallen below their MA50 and Ichimoku clouds, signaling significant bearish trends. This highlights the importance of a strong foundational project and active community support.
Memecoins and Community Tokens:
Volatility: Tokens like PEPE and FLOKI, driven primarily by community sentiment, have shown significant volatility. Their value is highly influenced by speculative trading rather than intrinsic utility, making them more susceptible to rapid declines during market downturns.
Project-Based Tokens:
Utility and Support: Tokens that serve specific project-based purposes, such as those used in gaming or DeFi, need a strong utility and community to maintain their value. If the token's community is primarily driven by short-term gains, it is likely to see sharper declines during bearish periods.
Conclusion
For investors seeking stability in a volatile market, Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) represent strong choices. These tokens have demonstrated resilience, maintaining key support levels and continuing to show bullish tendencies despite broader market weaknesses. They offer a safer haven for long-term investments, supported by robust underlying technologies and widespread adoption.
Community Poll:
Which of these cryptocurrencies do you trust the most for long-term investment?
$BTC $ETH $BNB
Share your thoughts and reasons in the comments below!
#CryptoTrends2024 #Investment #MarketAnalysis
In the current bearish environment of the cryptocurrency market, only a few tokens maintain strong support levels. For long-term investors looking for stability and resilience, certain cryptocurrencies stand out. This article provides an overview of why Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) remain strong compared to other tokens and explores their current technical standings.
Analysis
In a generally bearish market for cryptocurrencies, BTC, ETH, and BNB are showing significant signs of stability. Here’s why these tokens are worth considering for long-term investment:
1. Bitcoin (BTC)
Overview: Bitcoin, being the pioneer cryptocurrency, has always been a reliable indicator of the market's health. Its proof-of-work mechanism ensures a stable and secure network.Current Performance: Bitcoin continues to trade above its 50-day moving average (MA50) and remains within or above its Ichimoku cloud. This positioning indicates that Bitcoin is maintaining a bullish trend despite the market downturn.
2. Ethereum (ETH)
Overview: Ethereum, the second-largest cryptocurrency by market capitalization, supports a vast array of decentralized applications (dApps) and smart contracts, reinforcing its value.Current Performance: Ethereum is also maintaining its position above the MA50 and within the Ichimoku cloud. This suggests that ETH continues to show upward momentum and stability, supported by its robust network activities and upcoming technological upgrades.
3. Binance Coin (BNB)
Overview: Binance Coin, the native token of the world’s largest cryptocurrency exchange, benefits from its wide range of uses within the Binance ecosystem, including transaction fee discounts, staking, and various DeFi applications.Current Performance: BNB remains strong, trading above its MA50 and within the Ichimoku cloud, which indicates continued investor confidence and usage within the Binance platform.
Observations on Other Tokens
In contrast, many other tokens have struggled to maintain their support levels. Most have fallen below their MA50 and Ichimoku clouds, signaling significant bearish trends. This highlights the importance of a strong foundational project and active community support.
Memecoins and Community Tokens:
Volatility: Tokens like PEPE and FLOKI, driven primarily by community sentiment, have shown significant volatility. Their value is highly influenced by speculative trading rather than intrinsic utility, making them more susceptible to rapid declines during market downturns.
Project-Based Tokens:
Utility and Support: Tokens that serve specific project-based purposes, such as those used in gaming or DeFi, need a strong utility and community to maintain their value. If the token's community is primarily driven by short-term gains, it is likely to see sharper declines during bearish periods.
Conclusion
For investors seeking stability in a volatile market, Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) represent strong choices. These tokens have demonstrated resilience, maintaining key support levels and continuing to show bullish tendencies despite broader market weaknesses. They offer a safer haven for long-term investments, supported by robust underlying technologies and widespread adoption.
Community Poll:
Which of these cryptocurrencies do you trust the most for long-term investment?
$BTC $ETH $BNB
Share your thoughts and reasons in the comments below!
#CryptoTrends2024 #Investment #MarketAnalysis
Evaluating Confidence in Leading Cryptocurrencies: PEPE, FLOKI, NOT, PENDLE, BNB, ETH, BTC
The cryptocurrency market is constantly evolving, with new projects emerging and established ones continuing to develop. As of June 2024, several cryptocurrencies have shown notable performance and potential. This article provides a brief overview of the current status of seven popular cryptocurrencies: PEPE, FLOKI, NotCoin (NOT), Pendle (PENDLE), Binance Coin (BNB), Ethereum (ETH), and Bitcoin (BTC). We also seek your input on which of these cryptocurrencies you have the most confidence in.
Current Status of Selected Cryptocurrencies
1. PEPE
Overview: $PEPE has experienced significant volatility, largely driven by community sentiment and speculative trading. It remains a speculative asset with a robust community backing.Current Performance: Highly unpredictable price movements, making it a risky yet potentially rewarding investment.
2. FLOKI
Overview: $FLOKI, inspired by the Shiba Inu meme coin craze, has gained traction within the crypto community. Its ecosystem includes various projects that fuel its value.Current Performance: Stable with occasional price spikes driven by social media hype and project developments.
3. NotCoin (NOT)
Overview: Originating from a viral Telegram game, NotCoin leverages a tap-to-earn mechanic, attracting a dedicated user base. It has seen stabilization after initial volatility.Current Performance: Steady user engagement and price stabilization following its initial surge and correction.
4. Pendle (PENDLE)
Overview: Pendle focuses on trading tokenized cash flows, allowing users to obtain fixed or flexible yields. It has shown resilience and potential for growth .Current Performance: Positive trend since mid-June 2024, with strong support levels indicating growth potential.
5. Binance Coin (BNB)
Overview: Integral to the Binance ecosystem, BNB is used for transaction fees, staking, and DeFi applications. It maintains a steady upward trajectory.Current Performance: Consistent performance, benefiting from its utility within the Binance ecosystem.
6. Ethereum (ETH)
Overview: Ethereum continues to perform well, driven by strong network activity and developer engagement. The approval of Ethereum ETFs has further boosted its price.Current Performance: Solid performance with increased institutional interest and network upgrades.
7. Bitcoin (BTC)
Overview: Bitcoin remains the dominant cryptocurrency, influenced by macroeconomic factors and institutional interest. Recent indicators suggest a potential upward movement towards $75,000.Current Performance: Strong buying pressure and a positive outlook as it remains a key player in the crypto market.
Conclusion
The cryptocurrency market offers diverse opportunities, from the speculative appeal of PEPE and FLOKI to the innovative projects like NotCoin and Pendle, and the established giants BNB, ETH, and BTC. Each of these cryptocurrencies presents unique strengths and potential risks. We invite you to share your insights and let us know which of these cryptocurrencies you have the most confidence in and why.
Community Poll:
Which of these cryptocurrencies do you trust the most?
$PEPE $FLOKI$NOT$PENDLE$BNB$ETH$BTC
Share your thoughts and reasons in the comments below!
Tags for Binance Square
#Crypto #Cryptocurrency #PEPE #FLOKI #NOT #PENDLE #BNB #ETH #BTC #TechnicalAnalysis #CommunityPoll #CryptoMarket
Current Status of Selected Cryptocurrencies
1. PEPE
Overview: $PEPE has experienced significant volatility, largely driven by community sentiment and speculative trading. It remains a speculative asset with a robust community backing.Current Performance: Highly unpredictable price movements, making it a risky yet potentially rewarding investment.
2. FLOKI
Overview: $FLOKI, inspired by the Shiba Inu meme coin craze, has gained traction within the crypto community. Its ecosystem includes various projects that fuel its value.Current Performance: Stable with occasional price spikes driven by social media hype and project developments.
3. NotCoin (NOT)
Overview: Originating from a viral Telegram game, NotCoin leverages a tap-to-earn mechanic, attracting a dedicated user base. It has seen stabilization after initial volatility.Current Performance: Steady user engagement and price stabilization following its initial surge and correction.
4. Pendle (PENDLE)
Overview: Pendle focuses on trading tokenized cash flows, allowing users to obtain fixed or flexible yields. It has shown resilience and potential for growth .Current Performance: Positive trend since mid-June 2024, with strong support levels indicating growth potential.
5. Binance Coin (BNB)
Overview: Integral to the Binance ecosystem, BNB is used for transaction fees, staking, and DeFi applications. It maintains a steady upward trajectory.Current Performance: Consistent performance, benefiting from its utility within the Binance ecosystem.
6. Ethereum (ETH)
Overview: Ethereum continues to perform well, driven by strong network activity and developer engagement. The approval of Ethereum ETFs has further boosted its price.Current Performance: Solid performance with increased institutional interest and network upgrades.
7. Bitcoin (BTC)
Overview: Bitcoin remains the dominant cryptocurrency, influenced by macroeconomic factors and institutional interest. Recent indicators suggest a potential upward movement towards $75,000.Current Performance: Strong buying pressure and a positive outlook as it remains a key player in the crypto market.
Conclusion
The cryptocurrency market offers diverse opportunities, from the speculative appeal of PEPE and FLOKI to the innovative projects like NotCoin and Pendle, and the established giants BNB, ETH, and BTC. Each of these cryptocurrencies presents unique strengths and potential risks. We invite you to share your insights and let us know which of these cryptocurrencies you have the most confidence in and why.
Community Poll:
Which of these cryptocurrencies do you trust the most?
$PEPE $FLOKI$NOT$PENDLE$BNB$ETH$BTC
Share your thoughts and reasons in the comments below!
Tags for Binance Square
#Crypto #Cryptocurrency #PEPE #FLOKI #NOT #PENDLE #BNB #ETH #BTC #TechnicalAnalysis #CommunityPoll #CryptoMarket
In-Depth Analysis of NotCoin (NOT): Combining Gaming and Crypto Innovation
Introduction to NotCoin ( $NOT )
NotCoin (NOT) began as a viral Telegram game, leveraging a tap-to-earn mining mechanic to onboard users into Web3. This unique approach allowed NotCoin to quickly capture the attention of millions of players, boasting over 35 million total users and peaking at six million daily active users, making it one of the largest gaming tokens on the market (CoinMarketCap) (CoinCodex).
Sector Classification
Gaming Sector: Given its origins and primary user engagement through a game on the Telegram platform, NotCoin firmly falls within the gaming sector. The tap-to-earn model is highly engaging, encouraging users to participate actively and earn rewards through gameplay.
Real World Assets (RWA): Although NotCoin has strong gaming roots, it could also touch upon the RWA sector if it integrates more functionalities allowing users to interact with real-world assets via its platform.
Token Utility
The NOT token serves multiple purposes within the ecosystem:
Community Engagement: Users earn rewards by participating in the ecosystem through various activities, such as discovering Web3 products, playing games, and contributing value.Trading: The token is traded on major exchanges like Binance and KuCoin, adding to its liquidity and market presence.Governance: NOT also plays a role in the governance of the platform, enabling holders to influence key decisions (CoinGecko) (Decrypt).
Technical Analysis of NotCoin (NOT)
Date of Analysis: June 16, 2024
After a correction from June 4 to June 11, NotCoin (NOT) has resumed an upward trend since June 12. Here are the detailed technical observations:
8-Hour Chart:Ichimoku Cloud: NotCoin is currently traversing its Ichimoku cloud. It has taken support from the SSB and is moving higher, confirming a medium-term bullish trend.4-Hour Chart:Tenkan and Kijun Cross: Since June 14, the Tenkan line has crossed above the Kijun line, which is a positive sign.Cloud Resistance: Prices are attempting to break through the Ichimoku cloud but face significant resistance at the SSB. This breakout may not happen immediately but could occur by tomorrow, given the current buying pressure and weekend volume effects.Fibonacci Retracement:The price is currently seeking support at the 0.5 Fibonacci retracement level. The next levels to watch are the 0.382 Fibonacci retracement and the SSB at 0.020377. If these levels are breached and hold as new support, it is likely that the token will continue its upward trajectory and retest the ATH from June 4.Volume and Market Sentiment:The current buying pressure has decreased, and with lower weekend trading volumes, prices might range sideways before a significant move occurs.
Conclusion
NotCoin is at a critical juncture. The 0.5 Fibonacci retracement level is currently a key support, and the token is aiming to break through the 0.382 Fibonacci retracement level and the SSB at 0.020377. The Ichimoku cloud analysis indicates indecision, with a possibility for a bullish reversal if prices break above the cloud. However, caution is advised due to current resistance levels and low trading volumes. Monitoring these key levels closely will be crucial in determining the next price movements.
#Notcoin👀🔥 #gaming #RealWorldAssets
NotCoin (NOT) began as a viral Telegram game, leveraging a tap-to-earn mining mechanic to onboard users into Web3. This unique approach allowed NotCoin to quickly capture the attention of millions of players, boasting over 35 million total users and peaking at six million daily active users, making it one of the largest gaming tokens on the market (CoinMarketCap) (CoinCodex).
Sector Classification
Gaming Sector: Given its origins and primary user engagement through a game on the Telegram platform, NotCoin firmly falls within the gaming sector. The tap-to-earn model is highly engaging, encouraging users to participate actively and earn rewards through gameplay.
Real World Assets (RWA): Although NotCoin has strong gaming roots, it could also touch upon the RWA sector if it integrates more functionalities allowing users to interact with real-world assets via its platform.
Token Utility
The NOT token serves multiple purposes within the ecosystem:
Community Engagement: Users earn rewards by participating in the ecosystem through various activities, such as discovering Web3 products, playing games, and contributing value.Trading: The token is traded on major exchanges like Binance and KuCoin, adding to its liquidity and market presence.Governance: NOT also plays a role in the governance of the platform, enabling holders to influence key decisions (CoinGecko) (Decrypt).
Technical Analysis of NotCoin (NOT)
Date of Analysis: June 16, 2024
After a correction from June 4 to June 11, NotCoin (NOT) has resumed an upward trend since June 12. Here are the detailed technical observations:
8-Hour Chart:Ichimoku Cloud: NotCoin is currently traversing its Ichimoku cloud. It has taken support from the SSB and is moving higher, confirming a medium-term bullish trend.4-Hour Chart:Tenkan and Kijun Cross: Since June 14, the Tenkan line has crossed above the Kijun line, which is a positive sign.Cloud Resistance: Prices are attempting to break through the Ichimoku cloud but face significant resistance at the SSB. This breakout may not happen immediately but could occur by tomorrow, given the current buying pressure and weekend volume effects.Fibonacci Retracement:The price is currently seeking support at the 0.5 Fibonacci retracement level. The next levels to watch are the 0.382 Fibonacci retracement and the SSB at 0.020377. If these levels are breached and hold as new support, it is likely that the token will continue its upward trajectory and retest the ATH from June 4.Volume and Market Sentiment:The current buying pressure has decreased, and with lower weekend trading volumes, prices might range sideways before a significant move occurs.
Conclusion
NotCoin is at a critical juncture. The 0.5 Fibonacci retracement level is currently a key support, and the token is aiming to break through the 0.382 Fibonacci retracement level and the SSB at 0.020377. The Ichimoku cloud analysis indicates indecision, with a possibility for a bullish reversal if prices break above the cloud. However, caution is advised due to current resistance levels and low trading volumes. Monitoring these key levels closely will be crucial in determining the next price movements.
#Notcoin👀🔥 #gaming #RealWorldAssets
Fundamental and Technical Analysis of Pendle (PENDLE)
Introduction to Pendle ( $PENDLE )
Pendle (PENDLE) is a prominent token in the Real World Assets (RWA) sector. The RWA sector focuses on bringing real-world assets onto the blockchain, facilitating their trading and integration within decentralized finance (DeFi). Pendle distinguishes itself as a protocol for trading tokenized cash flows, allowing users to obtain either fixed or flexible yields.
Key Features of Pendle
Tokenized Cash Flows: Pendle enables the trading of tokenized future yield, which means users can trade the rights to future interest or dividends.Fixed or Flexible Yields: Users can choose between fixed or flexible yield options, catering to different risk appetites and investment strategies.Utility Token: The PENDLE token serves several functions within the ecosystem, including liquidity incentives, governance, and transaction fees.
Pendle's innovative approach allows users to separate and trade the principal and yield components of their assets, creating a new layer of financial flexibility and opportunity in the DeFi space.
Technical Analysis of Pendle (PENDLE)
Currently, on the daily chart, Pendle (PENDLE) shows potential for a rebound at the 0.618 Fibonacci retracement level. The RSI is emerging from its oversold zone, indicating buying pressure. However, the relatively low trading volume suggests that the price may move sideways within a range rather than making a significant upward move. It's essential to closely monitor the 0.618 Fibonacci retracement level, as well as the lower 0.786 level, which also appears to act as support.
Key Observations
Upward Trend: Unlike many other tokens, Pendle has not yet exited its overall upward trend, evidenced by three rebounds on the upward trend line.Critical Support: PENDLE is currently supported by its 50-day moving average (MA50). It's crucial that it remains above this moving average to maintain its upward momentum.
Ichimoku Analysis
Adding the Ichimoku analysis reveals several critical points:
Inside the Cloud: PENDLE has entered the Ichimoku cloud from above due to the recent price decline, indicating potential consolidation.Bearish Signals: It has crossed below its Kijun and Tenkan lines, indicating bearish sentiment. However, it remains within the cloud, suggesting that a definitive trend reversal has not yet occurred.Support and Resistance: The price is currently hovering around the Tenkan line, attempting to move upwards past the 0.618 Fibonacci level. If the price moves above the cloud (SSB), it would signal a strong bullish reversal. Conversely, a move below the cloud would confirm a bearish trend.
Conclusion
Pendle is in a critical zone with potential support at the 0.618 Fibonacci retracement and the MA50. The Ichimoku cloud indicates indecision, with the possibility of a bullish reversal if the price breaks above the cloud. However, low trading volumes and current bearish signals warrant caution. Monitoring these levels closely will be crucial to determine the next movement.
#PENDLE
Pendle (PENDLE) is a prominent token in the Real World Assets (RWA) sector. The RWA sector focuses on bringing real-world assets onto the blockchain, facilitating their trading and integration within decentralized finance (DeFi). Pendle distinguishes itself as a protocol for trading tokenized cash flows, allowing users to obtain either fixed or flexible yields.
Key Features of Pendle
Tokenized Cash Flows: Pendle enables the trading of tokenized future yield, which means users can trade the rights to future interest or dividends.Fixed or Flexible Yields: Users can choose between fixed or flexible yield options, catering to different risk appetites and investment strategies.Utility Token: The PENDLE token serves several functions within the ecosystem, including liquidity incentives, governance, and transaction fees.
Pendle's innovative approach allows users to separate and trade the principal and yield components of their assets, creating a new layer of financial flexibility and opportunity in the DeFi space.
Technical Analysis of Pendle (PENDLE)
Currently, on the daily chart, Pendle (PENDLE) shows potential for a rebound at the 0.618 Fibonacci retracement level. The RSI is emerging from its oversold zone, indicating buying pressure. However, the relatively low trading volume suggests that the price may move sideways within a range rather than making a significant upward move. It's essential to closely monitor the 0.618 Fibonacci retracement level, as well as the lower 0.786 level, which also appears to act as support.
Key Observations
Upward Trend: Unlike many other tokens, Pendle has not yet exited its overall upward trend, evidenced by three rebounds on the upward trend line.Critical Support: PENDLE is currently supported by its 50-day moving average (MA50). It's crucial that it remains above this moving average to maintain its upward momentum.
Ichimoku Analysis
Adding the Ichimoku analysis reveals several critical points:
Inside the Cloud: PENDLE has entered the Ichimoku cloud from above due to the recent price decline, indicating potential consolidation.Bearish Signals: It has crossed below its Kijun and Tenkan lines, indicating bearish sentiment. However, it remains within the cloud, suggesting that a definitive trend reversal has not yet occurred.Support and Resistance: The price is currently hovering around the Tenkan line, attempting to move upwards past the 0.618 Fibonacci level. If the price moves above the cloud (SSB), it would signal a strong bullish reversal. Conversely, a move below the cloud would confirm a bearish trend.
Conclusion
Pendle is in a critical zone with potential support at the 0.618 Fibonacci retracement and the MA50. The Ichimoku cloud indicates indecision, with the possibility of a bullish reversal if the price breaks above the cloud. However, low trading volumes and current bearish signals warrant caution. Monitoring these levels closely will be crucial to determine the next movement.
#PENDLE
Floki (FLOKI) Analysis: Navigating Bearish Signals Amidst Gaming and Meme Coin Potential
Introduction to Floki (FLOKI)
$FLOKI is a prominent cryptocurrency with a market capitalization of $1.9 billion. Named after a character from the popular TV series "Vikings," Floki is more than just a memecoin; it has uniquely positioned itself at the intersection of the gaming and meme sectors within the cryptocurrency market.
Why Floki is Part of the Gaming and Meme Sectors
Meme Sector: Like Dogecoin and Shiba Inu, Floki leverages the widespread appeal and community engagement characteristic of meme coins. This approach has fostered a large and dedicated following, driving its popularity and market value.Gaming Sector: Floki is actively involved in the gaming sector through its development of play-to-earn (P2E) games and integration with the metaverse. The project aims to create a robust ecosystem where users can earn rewards by participating in games and other interactive experiences, aligning with the growing trend of combining blockchain technology with gaming.
Technical Analysis of $FLOKI (FLOKI)
Currently, the cryptocurrency market is experiencing some instability, with a marked weakness across the board. For Floki (FLOKI), we can observe that between yesterday and today, it broke its upward trend line and simultaneously crossed below its 50-day moving average (MA50). These are strong bearish signals.
Key Observations
Bearish Signals: The breaking of the upward trend line and crossing below the MA50 are indicative of a downward trend.Stochastic RSI: On the daily chart, the Stochastic RSI indicates that FLOKI is in the oversold zone. This means there is a possibility for a rebound if the Stoch RSI begins to rise from this level.Ichimoku Cloud: Despite the bearish indicators, the prices are still above the Ichimoku cloud on the daily chart, which is a positive sign. However, the Tenkan line has crossed below the Kijun line, and prices have also crossed below both lines, indicating further bearish sentiment.Fibonacci Retracement: A significant level to watch is the 0.618 Fibonacci retracement, which suggests that prices might stabilize here. The market has shown mostly red daily candles over the last eight days, but today's candle has started green, indicating potential stabilization.Volume: Given that it's the weekend, trading volumes are lower, which could affect price movements.
Short-term Outlook
Range Trading: It is possible that prices might range sideways within the Ichimoku cloud if the current support holds.Investor Sentiment: The key factor to watch will be whether retail investors are willing to buy during the weekend, which could help stabilize the price, or if they continue to sell, pushing the price lower.
Conclusion
Currently, FLOKI is in a zone of indecision. Despite positive macroeconomic news, there is a general mood of capitulation among investors. It's crucial to observe price movements over the weekend to determine if retail investors will stabilize the prices or continue to sell, potentially leading to a test of the 0.786 Fibonacci retracement level, a strong support but representing a significant price drop.
#FLOKI🔥
#TechnicalAnalysis
$FLOKI is a prominent cryptocurrency with a market capitalization of $1.9 billion. Named after a character from the popular TV series "Vikings," Floki is more than just a memecoin; it has uniquely positioned itself at the intersection of the gaming and meme sectors within the cryptocurrency market.
Why Floki is Part of the Gaming and Meme Sectors
Meme Sector: Like Dogecoin and Shiba Inu, Floki leverages the widespread appeal and community engagement characteristic of meme coins. This approach has fostered a large and dedicated following, driving its popularity and market value.Gaming Sector: Floki is actively involved in the gaming sector through its development of play-to-earn (P2E) games and integration with the metaverse. The project aims to create a robust ecosystem where users can earn rewards by participating in games and other interactive experiences, aligning with the growing trend of combining blockchain technology with gaming.
Technical Analysis of $FLOKI (FLOKI)
Currently, the cryptocurrency market is experiencing some instability, with a marked weakness across the board. For Floki (FLOKI), we can observe that between yesterday and today, it broke its upward trend line and simultaneously crossed below its 50-day moving average (MA50). These are strong bearish signals.
Key Observations
Bearish Signals: The breaking of the upward trend line and crossing below the MA50 are indicative of a downward trend.Stochastic RSI: On the daily chart, the Stochastic RSI indicates that FLOKI is in the oversold zone. This means there is a possibility for a rebound if the Stoch RSI begins to rise from this level.Ichimoku Cloud: Despite the bearish indicators, the prices are still above the Ichimoku cloud on the daily chart, which is a positive sign. However, the Tenkan line has crossed below the Kijun line, and prices have also crossed below both lines, indicating further bearish sentiment.Fibonacci Retracement: A significant level to watch is the 0.618 Fibonacci retracement, which suggests that prices might stabilize here. The market has shown mostly red daily candles over the last eight days, but today's candle has started green, indicating potential stabilization.Volume: Given that it's the weekend, trading volumes are lower, which could affect price movements.
Short-term Outlook
Range Trading: It is possible that prices might range sideways within the Ichimoku cloud if the current support holds.Investor Sentiment: The key factor to watch will be whether retail investors are willing to buy during the weekend, which could help stabilize the price, or if they continue to sell, pushing the price lower.
Conclusion
Currently, FLOKI is in a zone of indecision. Despite positive macroeconomic news, there is a general mood of capitulation among investors. It's crucial to observe price movements over the weekend to determine if retail investors will stabilize the prices or continue to sell, potentially leading to a test of the 0.786 Fibonacci retracement level, a strong support but representing a significant price drop.
#FLOKI🔥
#TechnicalAnalysis
Technical Analysis of Shiba Inu (SHIB)
The meme coin $SHIB
has experienced a marked downtrend since May 29, confirmed by three points which might eventually end today.
The price levels have reached a very strong support around 0.00002069.
On a 4-hour chart, prices are starting to climb, crossing the Tenkan line. However, they are still below the Ichimoku cloud, which is a bearish signal. They are also below significant support or resistance levels like the 0.786 Fibonacci retracement and below their downward trend line.
These indicators suggest that if SHIB reverses the trend, it will face some short-term challenges in breaking through these resistances. The RSI appears to be rising, indicating buying pressure. However, as an entry point, I remain relatively neutral on SHIB currently. Until SHIB crosses back above its Kijun line on the 4-hour chart, breaks its downward trend line, and finds support at a significant Fibonacci retracement level like 0.786, I would not recommend entering.
Once these conditions are met, SHIB might then be able to cross above its Ichimoku cloud and break its SSB resistance. Currently, SHIB's prices seem stuck between various resistance levels. Given the buying pressure, it might range for some time or at least until it breaks its downward trend line.
#shiba⚡ #TechnicalAnalysis
The meme coin $SHIB
has experienced a marked downtrend since May 29, confirmed by three points which might eventually end today.
The price levels have reached a very strong support around 0.00002069.
On a 4-hour chart, prices are starting to climb, crossing the Tenkan line. However, they are still below the Ichimoku cloud, which is a bearish signal. They are also below significant support or resistance levels like the 0.786 Fibonacci retracement and below their downward trend line.
These indicators suggest that if SHIB reverses the trend, it will face some short-term challenges in breaking through these resistances. The RSI appears to be rising, indicating buying pressure. However, as an entry point, I remain relatively neutral on SHIB currently. Until SHIB crosses back above its Kijun line on the 4-hour chart, breaks its downward trend line, and finds support at a significant Fibonacci retracement level like 0.786, I would not recommend entering.
Once these conditions are met, SHIB might then be able to cross above its Ichimoku cloud and break its SSB resistance. Currently, SHIB's prices seem stuck between various resistance levels. Given the buying pressure, it might range for some time or at least until it breaks its downward trend line.
#shiba⚡ #TechnicalAnalysis
Introduction to IO.NET
IO.NET is a decentralized AI computing and cloud platform that aggregates GPU supply from underutilized sources. IO.NET creates a network that allows machine learning (ML) startups to access nearly unlimited computing power at a fraction of the cost of traditional cloud solutions. The current market capitalization of IO.NET is $480 million. The IO token has been listed on Binance since June 11, 2024.
Technical Analysis of $IO
1-Hour Chart: Since IO has been listed on June 11 at 14:00, we are using the 1-hour chart to have enough candlesticks for a meaningful technical analysis.
Key Points:
High and Low Points: The highest point was reached on June 12, and the lowest point on June 11.
Fibonacci Retracement: Used to identify potential support and resistance levels.
Current Support: A support level seems to be forming around 4.725.
Indicators and Observations
Ichimoku:
The Tenkan line is attempting to cross above the Kijun line, which would be a bullish signal.
RSI:
The RSI is in a descending trend from the overbought zone, indicating that selling is occurring and the price of the asset is decreasing as a result.
Upward Trend Line:
An upward trend line has been drawn, but it is currently only confirmed by two points.
Support Levels to Watch
4.725: A key support level to monitor.
0.618 and 0.786 Fibonacci Levels: Observe if these retracement levels hold as support.
Conclusion
A potential entry point could be considered once the RSI has finished its downward phase on the 1-hour chart. The 4-hour charts currently do not provide enough data to be reliably used. It is crucial to monitor the mentioned support levels to confirm a less risky entry point.
#io.net
IO.NET is a decentralized AI computing and cloud platform that aggregates GPU supply from underutilized sources. IO.NET creates a network that allows machine learning (ML) startups to access nearly unlimited computing power at a fraction of the cost of traditional cloud solutions. The current market capitalization of IO.NET is $480 million. The IO token has been listed on Binance since June 11, 2024.
Technical Analysis of $IO
1-Hour Chart: Since IO has been listed on June 11 at 14:00, we are using the 1-hour chart to have enough candlesticks for a meaningful technical analysis.
Key Points:
High and Low Points: The highest point was reached on June 12, and the lowest point on June 11.
Fibonacci Retracement: Used to identify potential support and resistance levels.
Current Support: A support level seems to be forming around 4.725.
Indicators and Observations
Ichimoku:
The Tenkan line is attempting to cross above the Kijun line, which would be a bullish signal.
RSI:
The RSI is in a descending trend from the overbought zone, indicating that selling is occurring and the price of the asset is decreasing as a result.
Upward Trend Line:
An upward trend line has been drawn, but it is currently only confirmed by two points.
Support Levels to Watch
4.725: A key support level to monitor.
0.618 and 0.786 Fibonacci Levels: Observe if these retracement levels hold as support.
Conclusion
A potential entry point could be considered once the RSI has finished its downward phase on the 1-hour chart. The 4-hour charts currently do not provide enough data to be reliably used. It is crucial to monitor the mentioned support levels to confirm a less risky entry point.
#io.net
Technical Analysis of $NOT
It appears that $NOT has now established an upward trend line with three bounce points. Although it is currently still below its Ichimoku cloud on the 4-hour chart, there seems to be sufficient upward momentum for NotCoin to continue its medium-term growth.
Positive Indicators:
Tenkan and Kijun Cross: On shorter timeframes, the Tenkan has crossed above the Kijun, and prices have also moved above the Tenkan, which is a clear bullish signal.
Upward Trend Line: The upward trend line with three bounce points indicates underlying upward strength.
Resistances and Scenarios:
Potential Resistances: In the short term, there are several potential resistances, such as the 0.618 Fibonacci retracement and the SSB at the top of the Ichimoku cloud.
Ichimoku Cloud Breakout: If the bullish trend continues, prices should soon break through the Ichimoku cloud and pass this SSB resistance.
Range Scenario: A range scenario within the Ichimoku cloud seems more likely given the current market conditions, despite positive macroeconomic news. Investor confidence needs to return for a significant bullish movement.
Recommendation:
Neutral Position: Currently, it is prudent to maintain a neutral position. Although there are positive and encouraging signals, it is advisable to wait for a rebound at the 0.618 Fibonacci retracement level before entering a position.
Monitor RSI: Also waiting for the RSI to drop from its overbought zone could indicate a less risky entry point.
#Notcoin👀🔥 #TechnicalAnalysis #Ichimoku
It appears that $NOT has now established an upward trend line with three bounce points. Although it is currently still below its Ichimoku cloud on the 4-hour chart, there seems to be sufficient upward momentum for NotCoin to continue its medium-term growth.
Positive Indicators:
Tenkan and Kijun Cross: On shorter timeframes, the Tenkan has crossed above the Kijun, and prices have also moved above the Tenkan, which is a clear bullish signal.
Upward Trend Line: The upward trend line with three bounce points indicates underlying upward strength.
Resistances and Scenarios:
Potential Resistances: In the short term, there are several potential resistances, such as the 0.618 Fibonacci retracement and the SSB at the top of the Ichimoku cloud.
Ichimoku Cloud Breakout: If the bullish trend continues, prices should soon break through the Ichimoku cloud and pass this SSB resistance.
Range Scenario: A range scenario within the Ichimoku cloud seems more likely given the current market conditions, despite positive macroeconomic news. Investor confidence needs to return for a significant bullish movement.
Recommendation:
Neutral Position: Currently, it is prudent to maintain a neutral position. Although there are positive and encouraging signals, it is advisable to wait for a rebound at the 0.618 Fibonacci retracement level before entering a position.
Monitor RSI: Also waiting for the RSI to drop from its overbought zone could indicate a less risky entry point.
#Notcoin👀🔥 #TechnicalAnalysis #Ichimoku
Yesterday, $PEPE attempted to break through the key SSB level at the 0.618 Fibonacci retracement but failed. Worse, the prices then fell back below the SSB, crossing back down through the Ichimoku cloud, and are currently being supported at the Kijun level. We observe that negative selling volumes are increasing, and the bullish trend line is under attack at the current price levels. Additionally, the RSI is dropping from the overbought zone.
Given these factors, we might expect a potential rebound at the 0.786 Fibonacci retracement level. However, if this support doesn't hold—especially since current supports seem unreliable and no positive news is expected today—the prices might stabilize even lower than they are now. Currently, the price is at 0.00001260.
The silver lining is that if prices drop further, it could present a new entry opportunity. The main concern is if $PEPE breaks below the major trend line and continues to trade below the Ichimoku cloud on the 4-hour chart. The best-case scenario would be a rebound at 0.786 and a subsequent attempt to break back above the Ichimoku cloud, ultimately overcoming the SSB resistance on a second attempt.
Exercise caution and stay vigilant. Today's market may likely be a dull day of range-bound movement or price stabilization, without significant excitement.
Feel free to share your thoughts and questions in the comments.
#pepecoin🐸 #pepe⚡ #PEPE_EXPERT #TechnicalAnalysis
Given these factors, we might expect a potential rebound at the 0.786 Fibonacci retracement level. However, if this support doesn't hold—especially since current supports seem unreliable and no positive news is expected today—the prices might stabilize even lower than they are now. Currently, the price is at 0.00001260.
The silver lining is that if prices drop further, it could present a new entry opportunity. The main concern is if $PEPE breaks below the major trend line and continues to trade below the Ichimoku cloud on the 4-hour chart. The best-case scenario would be a rebound at 0.786 and a subsequent attempt to break back above the Ichimoku cloud, ultimately overcoming the SSB resistance on a second attempt.
Exercise caution and stay vigilant. Today's market may likely be a dull day of range-bound movement or price stabilization, without significant excitement.
Feel free to share your thoughts and questions in the comments.
#pepecoin🐸 #pepe⚡ #PEPE_EXPERT #TechnicalAnalysis
Currently, $PEPE is at a critical level on the 4-hour chart. Observing the Ichimoku cloud, the SSB aligns with the 0.618 Fibonacci retracement level, making this a crucial point for a potential rebound. $PEPE needs to pass this SSB to move to the other side of the Ichimoku cloud on the 4-hour chart, confirming a bullish reversal from the recent downtrend.
Additionally, we can see that the Tenkan is attempting to cross above the Kijun, which would be another bullish signal, with prices moving above both the Tenkan and Kijun lines, signaling a bullish alert. However, this resistance at the 0.618 Fibonacci retracement and SSB level is tough to break, especially since the Stoch RSI is currently in the overbought zone.
Despite this, if $PEPE manages to surpass this resistance, there's potential for a continued upward trend, especially as the lagging span has also crossed above the prices. These factors provide more positive than negative signals, but with the RSI so high in the overbought zone, the community needs to stay motivated for the bullish trend to continue. If $PEPE can reach the level from June 6, corresponding to the 0.382 Fibonacci retracement, we might later see a return to the all-time high from May 27.
Stay cautious, do your own research, and feel free to ask questions in the comments!
#pepe⚡ #PEPE_EXPERT #TechnicalAnalysis
Additionally, we can see that the Tenkan is attempting to cross above the Kijun, which would be another bullish signal, with prices moving above both the Tenkan and Kijun lines, signaling a bullish alert. However, this resistance at the 0.618 Fibonacci retracement and SSB level is tough to break, especially since the Stoch RSI is currently in the overbought zone.
Despite this, if $PEPE manages to surpass this resistance, there's potential for a continued upward trend, especially as the lagging span has also crossed above the prices. These factors provide more positive than negative signals, but with the RSI so high in the overbought zone, the community needs to stay motivated for the bullish trend to continue. If $PEPE can reach the level from June 6, corresponding to the 0.382 Fibonacci retracement, we might later see a return to the all-time high from May 27.
Stay cautious, do your own research, and feel free to ask questions in the comments!
#pepe⚡ #PEPE_EXPERT #TechnicalAnalysis
Technical Analysis of $BONK: Potential Support and Rebound Opportunities
For those interested in $BONK , a memecoin on Solana $SOL, it seems to have found support around the current price level at the 0.618 Fibonacci retracement zone. This support appears strong, especially since prices on the 4-hour chart have just crossed the Ichimoku cloud and exited on the other side, which can indicate a trend change.
We also observe that the SSB roughly corresponds to the 0.618 Fibonacci retracement level, further reinforcing this support trend. Another interesting point is that buying volumes are starting to increase significantly. The only negative point to consider is that the Stoch RSI is currently in the overbought zone, which could potentially cause a temporary price drop.
However, with this solid support, it is likely that the price will range while the RSI decreases, then take support on this strong point to rebound. Currently, the price is at a key moment where it touches the downward trend line that has been traced since May 28. This might indicate that the correction is over, although not necessarily. The current price configuration from a technical standpoint is quite interesting and gives a perspective of a potential rebound to watch for, and see if the trend reverses.
Despite the somewhat complicated macroeconomic context of recent days, $BONK has not plunged much lower, which would indicate that we are now in an accumulation zone rather than an intensive selling zone. All these elements confirm a short-term range trend and a medium-term upward trend. It would take very bad economic or macroeconomic news, particularly from the FED, for prices to resume a bearish trend and invalidate my thesis.
It is also important to monitor the RSI, which is currently in the overbought zone. For me, this RSI element is somewhat troubling and makes me hesitate regarding an entry point. If the RSI were low, the entry point would be much clearer.
Please remember to exercise caution and conduct your own research. If you have any questions regarding this analysis, feel free to ask in the comments.
#BONK #TechnicalAnalysis #Fibonacci #TradingSignals
#CryptoCommunity
We also observe that the SSB roughly corresponds to the 0.618 Fibonacci retracement level, further reinforcing this support trend. Another interesting point is that buying volumes are starting to increase significantly. The only negative point to consider is that the Stoch RSI is currently in the overbought zone, which could potentially cause a temporary price drop.
However, with this solid support, it is likely that the price will range while the RSI decreases, then take support on this strong point to rebound. Currently, the price is at a key moment where it touches the downward trend line that has been traced since May 28. This might indicate that the correction is over, although not necessarily. The current price configuration from a technical standpoint is quite interesting and gives a perspective of a potential rebound to watch for, and see if the trend reverses.
Despite the somewhat complicated macroeconomic context of recent days, $BONK has not plunged much lower, which would indicate that we are now in an accumulation zone rather than an intensive selling zone. All these elements confirm a short-term range trend and a medium-term upward trend. It would take very bad economic or macroeconomic news, particularly from the FED, for prices to resume a bearish trend and invalidate my thesis.
It is also important to monitor the RSI, which is currently in the overbought zone. For me, this RSI element is somewhat troubling and makes me hesitate regarding an entry point. If the RSI were low, the entry point would be much clearer.
Please remember to exercise caution and conduct your own research. If you have any questions regarding this analysis, feel free to ask in the comments.
#BONK #TechnicalAnalysis #Fibonacci #TradingSignals
#CryptoCommunity
For those who missed the purchase and the impressive rise of $NOT at the end of May and early June, which saw a spectacular increase of about 143%, it might be worth considering an entry now if the rebound confirms at the 0.786 Fibonacci retracement level. Currently, this level seems to be holding, and the RSI shows signs of recovery, slowly exiting the oversold zone.
We also observe that the buying volume, although relatively low at the moment, is starting to pick up, which could indicate a potential rebound. A positive signal to watch for would be when the price crosses the Tenkan (yellow line) upwards, especially if this line is at the descending trend line. This could signal a bullish alert.
The price drop of $NOT , although dramatic, is more gradual than its rapid ascent, indicating less panic among sellers. In the current market conditions, $NOT presents an interesting capitalization but remains susceptible to fluctuations due to macroeconomic events, which instill doubt among investors. Price variations are common for new tokens or those recently listed, but for those who believe in its fundamentals, the technical analysis suggests that this could be a good entry point if the rebound at 0.786 is confirmed and the downward trend line is broken.
Observe this carefully and remain cautious in the current market conditions.
#Notcoin👀🔥 #TechnicalAnalysis
We also observe that the buying volume, although relatively low at the moment, is starting to pick up, which could indicate a potential rebound. A positive signal to watch for would be when the price crosses the Tenkan (yellow line) upwards, especially if this line is at the descending trend line. This could signal a bullish alert.
The price drop of $NOT , although dramatic, is more gradual than its rapid ascent, indicating less panic among sellers. In the current market conditions, $NOT presents an interesting capitalization but remains susceptible to fluctuations due to macroeconomic events, which instill doubt among investors. Price variations are common for new tokens or those recently listed, but for those who believe in its fundamentals, the technical analysis suggests that this could be a good entry point if the rebound at 0.786 is confirmed and the downward trend line is broken.
Observe this carefully and remain cautious in the current market conditions.
#Notcoin👀🔥 #TechnicalAnalysis
Information about $NOT (NotCoin):
NOt is a Telegram-based game created by Open Builders. It has garnered significant attention, with over 30 million total players and up to 6 million daily active users. The game involves tapping a golden coin to earn an in-game currency called Notcoin. This currency can be used for various in-game purchases and upgrades .
Technical Analysis of $NOT :
Since June 4, $NOT experienced a noticeable correction, showing a downward trend for the past week following a sharp rise. This rapid ascent has now stabilized, with prices descending towards a potential buying zone. However, it has not yet reached the ideal buying zone, which lies between the 0.78 and 0.61 Fibonacci retracement levels.
Currently, the price should ideally drop to around $0.016 to enter the buying zone. The RSI has exited the oversold region, indicating a potential for a rebound if the price reaches the lower Fibonacci levels. Observing the 4-hour Ichimoku chart, the price is below the cloud, with the Tenkan line crossing the Kijun line downwards, suggesting a bearish trend. The current price pressure on the Tenkan line further supports this bearish outlook.
For cautious investors, it would be wise to wait and see if the price hits the 0.618 or 0.786 Fibonacci retracement levels for a potential rebound. This would bring the price back to levels seen at the beginning of the month. Monitoring the RSI on 1-hour and 4-hour charts could help identify favorable entry points.
#Notcoin👀🔥 #TechnicalAnalysis
NOt is a Telegram-based game created by Open Builders. It has garnered significant attention, with over 30 million total players and up to 6 million daily active users. The game involves tapping a golden coin to earn an in-game currency called Notcoin. This currency can be used for various in-game purchases and upgrades .
Technical Analysis of $NOT :
Since June 4, $NOT experienced a noticeable correction, showing a downward trend for the past week following a sharp rise. This rapid ascent has now stabilized, with prices descending towards a potential buying zone. However, it has not yet reached the ideal buying zone, which lies between the 0.78 and 0.61 Fibonacci retracement levels.
Currently, the price should ideally drop to around $0.016 to enter the buying zone. The RSI has exited the oversold region, indicating a potential for a rebound if the price reaches the lower Fibonacci levels. Observing the 4-hour Ichimoku chart, the price is below the cloud, with the Tenkan line crossing the Kijun line downwards, suggesting a bearish trend. The current price pressure on the Tenkan line further supports this bearish outlook.
For cautious investors, it would be wise to wait and see if the price hits the 0.618 or 0.786 Fibonacci retracement levels for a potential rebound. This would bring the price back to levels seen at the beginning of the month. Monitoring the RSI on 1-hour and 4-hour charts could help identify favorable entry points.
#Notcoin👀🔥 #TechnicalAnalysis
The memecoin $PEOPLE (Constitution DAO) has shown strong progress since the beginning of June, and the bullish trend seems to continue. After a slight correction on Sunday morning, it is now rising sharply compared to the overall crypto market. Despite the current high price, applying the Fibonacci retracement shows that it is not in a buying zone but continues to follow its upward trajectory.
On the 1-hour chart, using Ichimoku, we can see that it has taken the SSB as support for a rebound. The RSI is progressing on the 1-hour chart, having exited the oversold zone. This SSB corresponds to the 0.38 Fibonacci retracement level. On the 4-hour chart, the selling pressure seems to be slowing down, indicating a potential buying reversal for this token.
The downward trend appears to be slowing, taking a bit more time to confirm the trend change. We observe that the trading volumes are turning green again, suggesting that $PEOPLE is poised to climb back to the 0.236 Fibonacci retracement level. If this trend continues, it may soon reach its all-time high and maintain its upward momentum.
However, it's essential to note that this token is extremely volatile. With a market capitalization of $632 million, prices can still be quite manipulable. Large buys or sells by whales can cause significant price movements. Nevertheless, there is an underlying trend indicating that this token has substantial momentum.
It is advisable to monitor the RSI on the 1-hour and 4-hour charts to identify interesting rebound opportunities for this token, which is making a surprisingly strong upward run.
#PEOPLE #ConstitutionDAO #TechnicalAnalysis #tradingsignals #Ichimoku
On the 1-hour chart, using Ichimoku, we can see that it has taken the SSB as support for a rebound. The RSI is progressing on the 1-hour chart, having exited the oversold zone. This SSB corresponds to the 0.38 Fibonacci retracement level. On the 4-hour chart, the selling pressure seems to be slowing down, indicating a potential buying reversal for this token.
The downward trend appears to be slowing, taking a bit more time to confirm the trend change. We observe that the trading volumes are turning green again, suggesting that $PEOPLE is poised to climb back to the 0.236 Fibonacci retracement level. If this trend continues, it may soon reach its all-time high and maintain its upward momentum.
However, it's essential to note that this token is extremely volatile. With a market capitalization of $632 million, prices can still be quite manipulable. Large buys or sells by whales can cause significant price movements. Nevertheless, there is an underlying trend indicating that this token has substantial momentum.
It is advisable to monitor the RSI on the 1-hour and 4-hour charts to identify interesting rebound opportunities for this token, which is making a surprisingly strong upward run.
#PEOPLE #ConstitutionDAO #TechnicalAnalysis #tradingsignals #Ichimoku
For $WIF (Dog With Hat), on a broader spectrum, there is a slightly bullish underlying trend. It seems that the correction that started last Friday has ended, and there is currently a rebound zone at the 0.78 Fibonacci retracement level, which is a buying zone.
If we look at the RSI, we see that it has exited the oversold region, and if the trend continues, we could see an upward movement in the price of $WIF in the coming days.
Additionally, analyzing the 4-hour chart under Ichimoku, we can see that prices are currently crossing above the Tenkan line, which is a bullish alert and potentially indicates a trend change.
Therefore, it is important to monitor if this rebound is confirmed in the next few hours.
#WIF🔥🔥 #dogwithhat #TechnicalAnalysis
If we look at the RSI, we see that it has exited the oversold region, and if the trend continues, we could see an upward movement in the price of $WIF in the coming days.
Additionally, analyzing the 4-hour chart under Ichimoku, we can see that prices are currently crossing above the Tenkan line, which is a bullish alert and potentially indicates a trend change.
Therefore, it is important to monitor if this rebound is confirmed in the next few hours.
#WIF🔥🔥 #dogwithhat #TechnicalAnalysis
SOL (Solana) : on the 4-hour chart, we can see that the RSI is rising but is not yet in the overbought territory.
The Tenkan has crossed above the Kijun, and currently, the prices seem to be following the Tenkan's momentum.
A rebound has occurred at the 0.61 Fibonacci retracement level.
If the current trend continues, we can expect the prices to rise until they reach a major resistance level at the SSB, around $168.
If $SOL manages to break through the SSB and its cloud, we could see an interesting bullish reversal for Solana.
#SOL🔥🔥 #Solana #TechnicalAnalysis #Fibonacci #Ichimoku
The Tenkan has crossed above the Kijun, and currently, the prices seem to be following the Tenkan's momentum.
A rebound has occurred at the 0.61 Fibonacci retracement level.
If the current trend continues, we can expect the prices to rise until they reach a major resistance level at the SSB, around $168.
If $SOL manages to break through the SSB and its cloud, we could see an interesting bullish reversal for Solana.
#SOL🔥🔥 #Solana #TechnicalAnalysis #Fibonacci #Ichimoku
On the 4-hour chart, $DOGE currently shows an interesting rebound configuration. It appears to have minimal resistance above and has just crossed its Tenkan line. The prices will likely continue to rise and touch the Kijun line at the 0.61 Fibonacci level. This places $DOGE in the buying zone, with a rebound from the 0.78 level.
The RSI is relatively low, exiting the oversold zone, making this a good opportunity for those interested in entering to potentially benefit from a rebound.
While there are no certainties, the technical configurations suggest a possibility for upward movement. However, the volumes are relatively low since it’s the weekend. Technically, there seems to be room for prices to rise for $DOGE at the moment.
#doge⚡ #Dogecoin #TechnicalAnalysis #Ichimoku
The RSI is relatively low, exiting the oversold zone, making this a good opportunity for those interested in entering to potentially benefit from a rebound.
While there are no certainties, the technical configurations suggest a possibility for upward movement. However, the volumes are relatively low since it’s the weekend. Technically, there seems to be room for prices to rise for $DOGE at the moment.
#doge⚡ #Dogecoin #TechnicalAnalysis #Ichimoku
Currently, the prices of BounceBit ($BB ) are in a buying zone according to Fibonacci levels and are also in a rebound zone. We can see that it has already started to bounce off the 0.78 level, with the RSI beginning to exit the oversold region. Therefore, a rebound is expected in the coming hours.
There is resistance above the prices at the SSB (Senkou Span B), which is approximately at the 0.5 Fibonacci level. The 0.71 price level corresponds to this 0.5 Fibonacci level. Consequently, we could aim for either the 0.61 or 0.5 Fibonacci levels as targets. Given the current price, there is a potential gain of 10% up to 0.71.
This analysis suggests a promising outlook for $BB .
I would love to hear your thoughts and feelings regarding this technical analysis. Please feel free to share your impressions!
#bouncebit #TechnicalAnalysis #RSI #Fibonacci #Ichimoku
There is resistance above the prices at the SSB (Senkou Span B), which is approximately at the 0.5 Fibonacci level. The 0.71 price level corresponds to this 0.5 Fibonacci level. Consequently, we could aim for either the 0.61 or 0.5 Fibonacci levels as targets. Given the current price, there is a potential gain of 10% up to 0.71.
This analysis suggests a promising outlook for $BB .
I would love to hear your thoughts and feelings regarding this technical analysis. Please feel free to share your impressions!
#bouncebit #TechnicalAnalysis #RSI #Fibonacci #Ichimoku
