Cryptocurrency market overview | May 28 🧙‍♂️#Marketcap | Crypto De Nostradame on Binance Square

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Bullish

Cryptocurrency market overview |  May 28
  🧙‍♂️#Marketcap : $2.55 trillion (-1.16%)
  🧙‍♂️#BTC  dominance: 52.40% (-0.09%)
  🧙‍♂️Fear and Greed Index: 72 (greed)

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These 5 altcoins stepped on the gas: Is the Metaverse trend returning? The rise of the leading altcoins in the Metaverse field in the last week gave signals that the trend may return. With Bitcoin holding above $ 95,000, the upward momentum in altcoins accelerated. Especially the altcoins related to the Metaverse attracted attention with their rise. Metaverse projects, which came to the fore with their performance in the last week, brought the bull season in 2021 to mind. 1- The Sandbox ($SAND ) SAND, which increased by 120 percent in the last week, literally shouldered the Metaverse trend. #SAND , which showed a good performance not only compared to the altcoins in this category but also compared to the market in general, made its investors happy. The $ 1 band can be followed as resistance for the popular altcoin. 2- Decentraland ($MANA ) #MANA , one of the popular projects in the Metaverse field, recorded a 60 percent increase in the last week. After a long break, MANA broke $ 0.50 in volume. If the Metaverse trend returns, the upward momentum in the parity may continue. 3- Axie Infinity ($AXS ) AXS, which operates in the Metaverse/GameFi categories, showed a 50 percent performance in the last week. The popular altcoin, which left $ 8 behind, reminded us of the bull run in 2021. The price of #AXS will experience movement depending on the trends. 4- Enjin Coin (ENJ) ENJ, which is remembered with the bull run in 2021, increased by 40 percent in the last week. #ENJ , which has reached a market value of $ 500 million again, continues to give bullish signals. With a possible trend reversal, the $ 0.50 band can be targeted for ENJ. 5- Yield Guild Games (YGG) YGG, another altcoin active in the Metaverse/GameFi field, increased by 70 percent in the last week. #YGG , which stands out with its support for game projects, seems to have the wind at its back. The resistance level that YGG investors should pay attention to will be $0.75. Exceeding this level could accelerate the rise even further.

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BONK crashes: Will the uptrend continue? The popular memecoin $BONK on the Solana blockchain has fallen nearly 30 percent from its peak. In these days when Bitcoin has lost its upward momentum and money has flowed into major altcoins, popular memecoins have fallen out of favor. Memecoins other than #Dogecoin ($DOGE ) have faced significant profit-taking. The Solana blockchain, which hosted the memecoin supercycle, has lost interest as the number of memecoins on Pumpfun has increased. Memecoin investors have shifted their assets to major altcoins, thinking that the supercycle has ended. These developments have also affected BONK, one of Solana's most popular memecoins. $BONK has lost nearly 30 percent of its value from its peak ($0.00006230) reached on November 20, 2024. AMBCrypto stated that the BONK price will lose value due to low demand. According to on-chain data, whales closed their transactions on BONK profitably. Selling pressure led to a decrease in the BONK price. According to AMBCrypto's analysis, if the BONK price continues to decline, the $ 0.000039 support may work. If this support is lost, a downtrend may begin in the popular memecoin. The analysis stated that the $ 0.00039 support intersecting with the 50-day SMA (Simple Moving Average) is of critical importance. According to the analysis, if the #BONK price can gain strength from $ 0.000039, it can test $ 0.000048. In fact, BONK does not see enough demand to bounce back from support levels. According to the latest data, BONK's trading rate in spot markets and futures has experienced a sharp decrease. AMBCrypto stated that memecoins need to re-establish dominance for #BONK to continue its rise. The analysis included the following statements; “For a possible price reversal, investors can monitor critical levels as well as potential whale entry, which could indicate a possible recovery for BONK.”

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Solana (SOL) Volatility May Increase: What Do Metrics Say? On November 23, the Solana ($SOL ) price reached an all-time high of $260. This development led to speculation that the popular altcoin could rise to $300. When looking at futures, long-oriented transactions are increasing. According to Coinglass data, Solana's Long/Short ratio in the 1-hour time frame has increased to 1.17. This ratio measures whether investors in the market are mostly bearish (short) or bullish (long). A ratio below 1 indicates more selling pressure, while a ratio above 1 indicates more buying expectations. Currently, 54 percent of #Solana investors are long, while 46.17 percent predict that the price will fall below $255. This development is a signal that investors think the price will rise. In addition, the increase in Solana's transaction rate could also make these positions profitable for investors. The increase in the transaction rate on the blockchain indicates an increase in user activity and interest in the token. According to Glassnode data, the transaction rate of the Solana network is increasing and if this trend continues, it could push the SOL price to new highs. On the weekly charts, the Solana price is trading above the 20 and 50 Exponential Moving Averages (EMAs), which are trend-setting. A price above the EMAs indicates an uptrend, while a drop below them usually indicates downward momentum. Currently trading at $255, #SOL continues its uptrend by staying above these averages. In addition, a bullish pennant formation is striking in the price action. This formation shows that the price tends to maintain upward momentum after overcoming the consolidation period. If the price stays above the upper trendline of the consolidation phase, it has the potential to rise to $325. However, if selling pressure increases, the price could drop below $200.

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Watch out for these altcoins: Token unlocking is coming! In the crypto market, token unlocking refers to the release of locked tokens that were previously planned and reserved for long-term distribution. Token unlocking can create selling pressure on the price. In these days when money inflow to altcoins increases, many altcoins will be unlocked. The altcoins in question will include the unlocked tokens in the circulation supply. According to Tokenomist data, the total value of token unlocks to be realized in the next 12 days is 1 billion dollars. A total of 9 altcoins will be unlocked in the project. Among the altcoins that will sign the unlocking are major cryptocurrencies that investors are very interested in. Cardano (#ADA ), which is in competition with major altcoins such as XRP and Ethereum, will sign a $20 million unlock in the early hours of November 26. Ethena (#ENA ), a decentralized finance (DeFi) project on the Ethereum blockchain, will unlock $8.51 million on November 27. The unlocked ENAs will be distributed to early adopters and the ecosystem. The largest unlock in the next few weeks will be seen on Jito (JTO). Jito will unlock and put a total of $513.7 million worth of JTO into circulation. The unlock will take place on December 7. SUI, one of the most popular altcoins of recent days, is also expecting a large amount of unlocks. According to the data, $220.19 million worth of SUI will be unlocked on December 1. Other expected unlocks are as follows; **Immutable ($IMX ) will unlock $43.4 million on November 29. **Optimism ($OP ) will unlock $72.09 million on November 30. **1inch ($1INCH ) will unlock $39.61 million on November 30. **ZetaChain (#ZETA ) will unlock $40.72 million on December 1. **dYdX (#DYDX ) will unlock $12.83 million on December 1.

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