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Why is the market crashing and what should you do now. An in-depth analysis.
°Reasons for the bearish trend.
1: (Technical Pattern) Last week's 68500/70000 resistance level warned of the risk of a pullback because this is a double resistance level structure on the daily chart. There are many loss-making positions gathered above it, and selling pressure is strong. Since the Rebound on July 5th, trading volume has significantly decreased and the pattern has become stagnant. Therefore, it is difficult to break through this level at once. BTC must go through a pullback (three waves or five waves) in terms of structural pattern and then build up momentum to break through the resistance zone.
2: (Fundamental) Many people believe that last night's data was perfect and exceeded expectations. Why did the US stock and encryption markets experience a big dump after the interest rate cut? This is because the interest rate cut in September has been speculated for several months, and the current result is already a foregone conclusion. Yesterday, the unemployment rate hit its highest value since 2021 and the Sam index (recession signal), causing the market to trade with a logic of avoiding suspicion. The panic spread to the global financial market, as last night's data represents a long-term favorable information, indicating a recession in the US economy, which means accelerating the pace of US point shaving. Short-term unfavorable information is all due to emotional factors. For the macro economy, what's more important for BTC is the halving cycle, liquidity, and on-chain data. There is no need to worry too much about the existence of a bull market.
°What now?
The weekly and monthly trends still show no change in the rise. As indicated by the short-term trend, BTC has now followed the retracement pattern of the five waves of the four-hour structure as scheduled, and is currently operating in the fifth wave. The reversal point of this retracement for BTC is around 64500-65000 (near the yellow falling trend line). If BTC breaks through and stabilizes above this level in the future, the market will confirm a phase bottom and initiate a new upward trend. Due to the low volume in the market on weekends, there will not be significant movements, and the focus will be on bottom oscillations. It is important to follow the situation of the Market Maker next week. In the short term, following the 62300 resistance level in the evening will suffice; if the breakthrough is maintained, the bulls will continue the Rebound action in the range of 63000-63500. Otherwise, it will continue to oscillate and consolidate. Often, the initial phase of a retracement starts with the altcoins falling first, and finally, BTC does not fall but the altcoins follow suit. This is a sign of the end of the adjustment phase. There are currently two trend scenarios being played out.
1: BTC Rebound is strong, and the market will break through the resistance level of 64500-65000 and start a new round of pump.
2: BTCRebound does not break the resistance level, and the market will retest it twice in the future. After Long Wick Candle quickly pulls back from the 59000-59800 area, it will then start to pump.
Regardless of the trend, the market remains bullish. Currently, all the unfavourable information has been released, and the market will be driven by favourable information such as interest rate cuts, elections, and FTX compensation, entering the second phase of the bull market. This is a greater opportunity than risk. The expected pullback has arrived, so let's accept it and make strategic arrangements, staying away from noise.
°Spot Strategy
At the 70,000 prompt to reduce position and swing trading of Position, we have already completed the operation of increase the position yesterday morning and evening. The current increase the position also has floating profits this morning. Currently, the SpotPosition that is in sync is around 80-90%, and the remaining 10%-20% Position should not be moved for defensive purposes. In case the market breaks the Long Wick Candle and liquidates the contract below 60,000 for a second time, we will fully enter the market again. If the Long Wick Candle does not occur, we can wait for a pullback after breaking the trend line and then engage in short-term swing trading. Those who have already completed the layout of ETH can hold it. Those who have a position with a cost around 3,000-3,100 can consider fully entering the market when there is a second bottoming at 2,800-2,900.
$BTC
$ETH
1: (Technical Pattern) Last week's 68500/70000 resistance level warned of the risk of a pullback because this is a double resistance level structure on the daily chart. There are many loss-making positions gathered above it, and selling pressure is strong. Since the Rebound on July 5th, trading volume has significantly decreased and the pattern has become stagnant. Therefore, it is difficult to break through this level at once. BTC must go through a pullback (three waves or five waves) in terms of structural pattern and then build up momentum to break through the resistance zone.
2: (Fundamental) Many people believe that last night's data was perfect and exceeded expectations. Why did the US stock and encryption markets experience a big dump after the interest rate cut? This is because the interest rate cut in September has been speculated for several months, and the current result is already a foregone conclusion. Yesterday, the unemployment rate hit its highest value since 2021 and the Sam index (recession signal), causing the market to trade with a logic of avoiding suspicion. The panic spread to the global financial market, as last night's data represents a long-term favorable information, indicating a recession in the US economy, which means accelerating the pace of US point shaving. Short-term unfavorable information is all due to emotional factors. For the macro economy, what's more important for BTC is the halving cycle, liquidity, and on-chain data. There is no need to worry too much about the existence of a bull market.
°What now?
The weekly and monthly trends still show no change in the rise. As indicated by the short-term trend, BTC has now followed the retracement pattern of the five waves of the four-hour structure as scheduled, and is currently operating in the fifth wave. The reversal point of this retracement for BTC is around 64500-65000 (near the yellow falling trend line). If BTC breaks through and stabilizes above this level in the future, the market will confirm a phase bottom and initiate a new upward trend. Due to the low volume in the market on weekends, there will not be significant movements, and the focus will be on bottom oscillations. It is important to follow the situation of the Market Maker next week. In the short term, following the 62300 resistance level in the evening will suffice; if the breakthrough is maintained, the bulls will continue the Rebound action in the range of 63000-63500. Otherwise, it will continue to oscillate and consolidate. Often, the initial phase of a retracement starts with the altcoins falling first, and finally, BTC does not fall but the altcoins follow suit. This is a sign of the end of the adjustment phase. There are currently two trend scenarios being played out.
1: BTC Rebound is strong, and the market will break through the resistance level of 64500-65000 and start a new round of pump.
2: BTCRebound does not break the resistance level, and the market will retest it twice in the future. After Long Wick Candle quickly pulls back from the 59000-59800 area, it will then start to pump.
Regardless of the trend, the market remains bullish. Currently, all the unfavourable information has been released, and the market will be driven by favourable information such as interest rate cuts, elections, and FTX compensation, entering the second phase of the bull market. This is a greater opportunity than risk. The expected pullback has arrived, so let's accept it and make strategic arrangements, staying away from noise.
°Spot Strategy
At the 70,000 prompt to reduce position and swing trading of Position, we have already completed the operation of increase the position yesterday morning and evening. The current increase the position also has floating profits this morning. Currently, the SpotPosition that is in sync is around 80-90%, and the remaining 10%-20% Position should not be moved for defensive purposes. In case the market breaks the Long Wick Candle and liquidates the contract below 60,000 for a second time, we will fully enter the market again. If the Long Wick Candle does not occur, we can wait for a pullback after breaking the trend line and then engage in short-term swing trading. Those who have already completed the layout of ETH can hold it. Those who have a position with a cost around 3,000-3,100 can consider fully entering the market when there is a second bottoming at 2,800-2,900.
$BTC
$ETH
Hamster Kombatâs Bold Move Against Cheating: A Step Towards Fair Play and Long-Term Success
In an era where gaming ecosystems and decentralized projects are thriving, fairness is paramount. Yesterday, Hamster Kombat took a decisive step in that direction by banning over 50% of its players after the snapshot for its much-anticipated airdrop. The drastic decision came after it was revealed that a large number of users were exploiting loopholes to manipulate the game, risking the integrity of the entire platform.
While banning such a large portion of their user base may seem counterintuitive, it is a commendable action that showcases Hamster Combatâs commitment to building a fair and transparent gaming environment. In a world where cheating is rampant across digital platforms, Hamster Combatâs move sets a new standard for enforcing fairness, even at the risk of reducing its player count significantly.
For legitimate players, this decision ensures that they are rewarded for their honest participation and skill, without the interference of cheaters compromising the gaming experience. It sends a strong message that Hamster Combat values its playersâ integrity above all else, which is vital for fostering a community that values fair competition.
This bold action not only strengthens the community but also enhances the company's reputation. By taking such a stand, Hamster Combat is likely to attract serious investors and game developers who seek platforms that prioritize fairness over inflated user numbers. It shows that Hamster Kombat is in it for the long game, ensuring that their ecosystem is built on solid, ethical foundations that will pay off in terms of both player trust and market value.
In a competitive industry where many companies turn a blind eye to cheating for the sake of short-term user growth, Hamster Combat has set itself apart. This move solidifies its position as a platform dedicated to integrity, and that in turn increases its appeal to investors and creators who are looking for sustainable and trustworthy partners.
In an era where gaming ecosystems and decentralized projects are thriving, fairness is paramount. Yesterday, Hamster Kombat took a decisive step in that direction by banning over 50% of its players after the snapshot for its much-anticipated airdrop. The drastic decision came after it was revealed that a large number of users were exploiting loopholes to manipulate the game, risking the integrity of the entire platform.
While banning such a large portion of their user base may seem counterintuitive, it is a commendable action that showcases Hamster Combatâs commitment to building a fair and transparent gaming environment. In a world where cheating is rampant across digital platforms, Hamster Combatâs move sets a new standard for enforcing fairness, even at the risk of reducing its player count significantly.
For legitimate players, this decision ensures that they are rewarded for their honest participation and skill, without the interference of cheaters compromising the gaming experience. It sends a strong message that Hamster Combat values its playersâ integrity above all else, which is vital for fostering a community that values fair competition.
This bold action not only strengthens the community but also enhances the company's reputation. By taking such a stand, Hamster Combat is likely to attract serious investors and game developers who seek platforms that prioritize fairness over inflated user numbers. It shows that Hamster Kombat is in it for the long game, ensuring that their ecosystem is built on solid, ethical foundations that will pay off in terms of both player trust and market value.
In a competitive industry where many companies turn a blind eye to cheating for the sake of short-term user growth, Hamster Combat has set itself apart. This move solidifies its position as a platform dedicated to integrity, and that in turn increases its appeal to investors and creators who are looking for sustainable and trustworthy partners.
Who said cheaters didn't get anything from Hamster airdrop. Whoever says this is completely ignorant and doesn't know the real truth. Cheaters got a LIFE LESSON from this drop that there are no shortcuts in life and what you sow so shall you reap. You can't cheat your way to success and I believe this LIFE LESSON, if it sticks with them, is more precious than any airdrop.
$BTC $ETH $SOL
$BTC $ETH $SOL
Golden Cross Forming On The Bitcoin Chart
Titan of Crypto revealed in an X $BTC
post that a Bitcoin Golden Cross is happening. He elaborated that the Golden Cross between the 100-day and 200-day moving averages is unfolding, noting that the crypto market has never witnessed this before. The crypto analyst added that if it is successful, this development could trigger the âmost explosive bull run yet.â
Titan of Crypto revealed in an X $BTC
post that a Bitcoin Golden Cross is happening. He elaborated that the Golden Cross between the 100-day and 200-day moving averages is unfolding, noting that the crypto market has never witnessed this before. The crypto analyst added that if it is successful, this development could trigger the âmost explosive bull run yet.â
To confirm the return of the Bull Market, you can follow the following two situations:
1. Can BTC break through $70,000 and continue to create new highs, thus completely reversing the current market structure.
2. Can BTC drive the altcoins to pump in sync, restoring the familiar market logic for us?
Before these two situations occur, blindly chasing rising prices or catching the bottom may bring risks. Frequent trading may not only miss bigger opportunities, but also affect investment mentality due to consecutive wrong decisions.
In addition, some altcoin projects in the traditional industry have faced pain points or bottlenecks and urgently need true "breakthrough" innovations. For example, distributed storage has false pain points, so it belongs to false breakthroughs; distributed AI is also a false pain point, because the development of AI has just begun, and whether blockchain intervention is needed is still uncertain. Meanwhile, DEFI is a true breakthrough, because TradFi has high thresholds, high costs, and complex procedures. RWA also has the potential for a true breakthrough, as the financialization of real-world assets is the best direction to solve the current slow circulation and low value perception of assets.
The profit-making effect of AltCoin must be significant enough to attract stable inflow of traditional funds, or allow a large number of low-threshold users to obtain relatively substantial returns through small investments.
Hope that the future market can introduce the concept of true breakthrough, once the wealth effect appears, the market will move towards a better situation!
1. Can BTC break through $70,000 and continue to create new highs, thus completely reversing the current market structure.
2. Can BTC drive the altcoins to pump in sync, restoring the familiar market logic for us?
Before these two situations occur, blindly chasing rising prices or catching the bottom may bring risks. Frequent trading may not only miss bigger opportunities, but also affect investment mentality due to consecutive wrong decisions.
In addition, some altcoin projects in the traditional industry have faced pain points or bottlenecks and urgently need true "breakthrough" innovations. For example, distributed storage has false pain points, so it belongs to false breakthroughs; distributed AI is also a false pain point, because the development of AI has just begun, and whether blockchain intervention is needed is still uncertain. Meanwhile, DEFI is a true breakthrough, because TradFi has high thresholds, high costs, and complex procedures. RWA also has the potential for a true breakthrough, as the financialization of real-world assets is the best direction to solve the current slow circulation and low value perception of assets.
The profit-making effect of AltCoin must be significant enough to attract stable inflow of traditional funds, or allow a large number of low-threshold users to obtain relatively substantial returns through small investments.
Hope that the future market can introduce the concept of true breakthrough, once the wealth effect appears, the market will move towards a better situation!
#Can BTC hold above $60,000 and continue rising?#
BTC has a good chance of holding above $60,000 and will continue to rise
Driven by institutional investment, regulatory clarity, and improving fundamental.
Itâs very important to monitor
1) Resistance level
2) Global economic condition
3)Regulatory development
Bullish factors
1) institutions investment increased adoption and investment from institutions driving demand
2) Favorable regulation and guidelines supporting cryptocurrency growth
3)positive sentiment driven by factors like inflation concerns and global economic uncertainty
BTC has a good chance of holding above $60,000 and will continue to rise
Driven by institutional investment, regulatory clarity, and improving fundamental.
Itâs very important to monitor
1) Resistance level
2) Global economic condition
3)Regulatory development
Bullish factors
1) institutions investment increased adoption and investment from institutions driving demand
2) Favorable regulation and guidelines supporting cryptocurrency growth
3)positive sentiment driven by factors like inflation concerns and global economic uncertainty
Bitcoin Roars Back After a Sharp Drop: What Lies Ahead for the King of Crypto?
Bitcoin has proven once again that it's not just a digital currencyâit's a force to be reckoned with. After a recent sharp drop, Bitcoin has bounced back to around $62,000, rekindling investor optimism and raising questions about what comes next for this market leader. As traders, investors, and analysts closely watch Bitcoinâs movements, the big question is: **Is this the start of another bullish surge, or is caution warranted?**
### The Context of the Drop
Bitcoin's recent drop from its highs was driven by a mix of profit-taking, macroeconomic pressures, and concerns over potential regulatory crackdowns. These factors combined to create a perfect storm that saw Bitcoin shedding a significant portion of its value in a short period. However, Bitcoinâs recovery to $62,000 demonstrates its continued resilience and the strength of demand, particularly from institutional investors who view these dips as buying opportunities.
### Factors Fueling the Rebound
1. **Institutional Investment and Adoption**: The involvement of major financial institutions and corporate entities continues to bolster Bitcoinâs price. Companies like MicroStrategy, Tesla, and more recently, PayPal, have continued to show strong support for Bitcoin, with new integrations and purchases. This institutional backing provides a solid foundation for Bitcoin's value.
2. **On-Chain Metrics**: Bitcoinâs on-chain metrics are currently showing healthy signs, such as increasing wallet balances among long-term holders and a drop in exchange reserves, which indicates that more investors are holding onto their Bitcoin rather than selling. This behavior is often associated with positive price action.
3. **Macroeconomic Environment**: With global inflationary pressures persisting and economic uncertainty looming large, Bitcoin is increasingly viewed as "digital gold." Investors are flocking to Bitcoin as a hedge against the devaluation of fiat currencies, driving up demand.
### Technical Analysis: Eyeing New Highs?
With Bitcoin currently trading at around $62,000, the market is watching key resistance levels closely:
- **Resistance at $64,000-$65,000**: This range represents a significant psychological barrier. If Bitcoin can break through this resistance, it could pave the way for a push toward $70,000 or beyond.
- **Support Levels**: On the downside, Bitcoin has strong support around $58,000-$60,000. As long as Bitcoin stays above this range, the bulls are likely to maintain control.
### Whatâs Next?
1. **The Road to $70,000**: If Bitcoin can surpass the $64,000-$65,000 resistance zone, it could quickly ascend to $70,000 and beyond. Market sentiment is gradually shifting back to bullish, and breaking this barrier could trigger another wave of FOMO (Fear Of Missing Out) buying.
2. **Regulatory Risks**: Despite the positive technical outlook, regulatory risks remain a concern. Any negative news from major economies, particularly around stricter regulations, could dampen the marketâs enthusiasm and trigger another correction.
3. **Altcoin Market Dynamics**: As Bitcoin regains its footing, the altcoin market is also seeing increased activity. Historically, a strong Bitcoin rally often leads to capital rotation into altcoins, suggesting that the broader crypto market could see substantial gains if Bitcoin continues to rise.
### Conclusion: A Bullish Outlook with Caution
Bitcoinâs rebound to $62,000 after its recent dip is a clear sign of the marketâs confidence in its long-term potential. However, investors should remain vigilant. While the technicals point to further upside, especially if Bitcoin can break through key resistance levels, the ever-present risks of regulation and macroeconomic shifts mean that the market could still experience volatility.
For now, the market sentiment is cautiously optimistic, and if Bitcoin continues on this trajectory, we could be in for another exciting leg up in this ongoing bull market.$BTC
### The Context of the Drop
Bitcoin's recent drop from its highs was driven by a mix of profit-taking, macroeconomic pressures, and concerns over potential regulatory crackdowns. These factors combined to create a perfect storm that saw Bitcoin shedding a significant portion of its value in a short period. However, Bitcoinâs recovery to $62,000 demonstrates its continued resilience and the strength of demand, particularly from institutional investors who view these dips as buying opportunities.
### Factors Fueling the Rebound
1. **Institutional Investment and Adoption**: The involvement of major financial institutions and corporate entities continues to bolster Bitcoinâs price. Companies like MicroStrategy, Tesla, and more recently, PayPal, have continued to show strong support for Bitcoin, with new integrations and purchases. This institutional backing provides a solid foundation for Bitcoin's value.
2. **On-Chain Metrics**: Bitcoinâs on-chain metrics are currently showing healthy signs, such as increasing wallet balances among long-term holders and a drop in exchange reserves, which indicates that more investors are holding onto their Bitcoin rather than selling. This behavior is often associated with positive price action.
3. **Macroeconomic Environment**: With global inflationary pressures persisting and economic uncertainty looming large, Bitcoin is increasingly viewed as "digital gold." Investors are flocking to Bitcoin as a hedge against the devaluation of fiat currencies, driving up demand.
### Technical Analysis: Eyeing New Highs?
With Bitcoin currently trading at around $62,000, the market is watching key resistance levels closely:
- **Resistance at $64,000-$65,000**: This range represents a significant psychological barrier. If Bitcoin can break through this resistance, it could pave the way for a push toward $70,000 or beyond.
- **Support Levels**: On the downside, Bitcoin has strong support around $58,000-$60,000. As long as Bitcoin stays above this range, the bulls are likely to maintain control.
### Whatâs Next?
1. **The Road to $70,000**: If Bitcoin can surpass the $64,000-$65,000 resistance zone, it could quickly ascend to $70,000 and beyond. Market sentiment is gradually shifting back to bullish, and breaking this barrier could trigger another wave of FOMO (Fear Of Missing Out) buying.
2. **Regulatory Risks**: Despite the positive technical outlook, regulatory risks remain a concern. Any negative news from major economies, particularly around stricter regulations, could dampen the marketâs enthusiasm and trigger another correction.
3. **Altcoin Market Dynamics**: As Bitcoin regains its footing, the altcoin market is also seeing increased activity. Historically, a strong Bitcoin rally often leads to capital rotation into altcoins, suggesting that the broader crypto market could see substantial gains if Bitcoin continues to rise.
### Conclusion: A Bullish Outlook with Caution
Bitcoinâs rebound to $62,000 after its recent dip is a clear sign of the marketâs confidence in its long-term potential. However, investors should remain vigilant. While the technicals point to further upside, especially if Bitcoin can break through key resistance levels, the ever-present risks of regulation and macroeconomic shifts mean that the market could still experience volatility.
For now, the market sentiment is cautiously optimistic, and if Bitcoin continues on this trajectory, we could be in for another exciting leg up in this ongoing bull market.$BTC
Over $3.5 billion worth of Ethereum is about to be withdrawn: How will the price of Cryptocurrency ETH react?
As expected, in the next nine hours, over $350 million worth of Ether will be unlocked, posing a threat to the key support level of the cryptocurrency ETH price. A total of 145,380 Ether (worth approximately $353 million) will be available for withdrawal at 20:00 UTC. According to data, this poses potential dumping pressure on the world's second largest cryptocurrency.
Although the withdrawal of ETH coins does not necessarily mean an immediate sale, a considerable portion of the Tokens may be liquidated in the market. Despite the significance of unlocking $350 million, analysts point out that such scale of withdrawals has become common after the ETH merge and Shanghai update.
This is against the backdrop of assets with a market capitalization of 3 trillion USD and a daily volume of 24 billion USD on CEX. The price of Ether has fallen for three consecutive weeks, falling below 2,200 USD this week, hitting a new low for five months. Previously, the cryptocurrency market experienced a dumping of 510 billion USD. Losing this psychological support level may lead to further panic dumping.
ETH validators plan to cash out their Token and stake rewards, which could increase dumping pressure. Currently, there are another 360,000 ETH coins waiting to be withdrawn from over 10,000 validators, which could bring an additional dumping pressure of $877 million. The recent big dump of ETH coins can be attributed to macroeconomic factors and specific industry dynamics, including the active dumping by Jump Trading.
According to a report from a large digital asset trading group in Singapore, Jump Trading and Paradigm VC have dumped ETH on a large scale, triggering a chain reaction from market makers attempting margin replenishment. A total of five major market makers have sold 130,000 Ether, worth over $290 million, causing the price of ETH to fall from $3,000 to less than $2,200.
As expected, in the next nine hours, over $350 million worth of Ether will be unlocked, posing a threat to the key support level of the cryptocurrency ETH price. A total of 145,380 Ether (worth approximately $353 million) will be available for withdrawal at 20:00 UTC. According to data, this poses potential dumping pressure on the world's second largest cryptocurrency.
Although the withdrawal of ETH coins does not necessarily mean an immediate sale, a considerable portion of the Tokens may be liquidated in the market. Despite the significance of unlocking $350 million, analysts point out that such scale of withdrawals has become common after the ETH merge and Shanghai update.
This is against the backdrop of assets with a market capitalization of 3 trillion USD and a daily volume of 24 billion USD on CEX. The price of Ether has fallen for three consecutive weeks, falling below 2,200 USD this week, hitting a new low for five months. Previously, the cryptocurrency market experienced a dumping of 510 billion USD. Losing this psychological support level may lead to further panic dumping.
ETH validators plan to cash out their Token and stake rewards, which could increase dumping pressure. Currently, there are another 360,000 ETH coins waiting to be withdrawn from over 10,000 validators, which could bring an additional dumping pressure of $877 million. The recent big dump of ETH coins can be attributed to macroeconomic factors and specific industry dynamics, including the active dumping by Jump Trading.
According to a report from a large digital asset trading group in Singapore, Jump Trading and Paradigm VC have dumped ETH on a large scale, triggering a chain reaction from market makers attempting margin replenishment. A total of five major market makers have sold 130,000 Ether, worth over $290 million, causing the price of ETH to fall from $3,000 to less than $2,200.
$XRP price pump 25%: Can this breakthrough continue?
XRP price formed a bottom above $0.450 and began a significant pump, surpassing Ethereum and BTC. The price is able to break the resistance levels at $0.5150 and $0.550.
The price pump exceeded 25%, breaking through several obstacles near $0.600. The price formed a high point at $0.6473 and recently corrected some gains. The price fell below the $0.600 level. The price fell below the 23.6% Fibonacci retracement from the swing low of $0.4922 to the high of $0.6477.
However, longs are active around $0.5880. It is still trading above $0.600 and the 100-hour simple MA. On the upside, the price faces resistance near $0.6250.
The first major resistance level is around $0.6350. The next key resistance level could be $0.640. If it clearly breaks the $0.640 resistance level, the price may fall towards the $0.6550 resistance level. The next major resistance level is around $0.6880. If the pump continues, the price may fall towards the $0.700 resistance level in the short term, even $0.720.
If XRP fails to break through the resistance level of $0.620, it may fall again. The initial support level is around $0.600. The next major support level is at $0.5880.
If there is a downward breakthrough and the price closes below $0.5880, the price may continue to fall to the support level of $0.570 or the 50% Fibonacci retracement level of the upward trend from the swing low of $0.4922 to the high of $0.6477. The next major support level is at $0.540.
technical indicator:
MACD per hour - MACD of XRP/USD is currently accelerating in the bullish zone.
The hourly RSI (Relative Strength Index) for XRP/USD is now above the 50 level.
Key support levels - $0.600 and $0.5880.
Key resistance levels - 0.6200 USD and 0.6400 USD.
XRP price formed a bottom above $0.450 and began a significant pump, surpassing Ethereum and BTC. The price is able to break the resistance levels at $0.5150 and $0.550.
The price pump exceeded 25%, breaking through several obstacles near $0.600. The price formed a high point at $0.6473 and recently corrected some gains. The price fell below the $0.600 level. The price fell below the 23.6% Fibonacci retracement from the swing low of $0.4922 to the high of $0.6477.
However, longs are active around $0.5880. It is still trading above $0.600 and the 100-hour simple MA. On the upside, the price faces resistance near $0.6250.
The first major resistance level is around $0.6350. The next key resistance level could be $0.640. If it clearly breaks the $0.640 resistance level, the price may fall towards the $0.6550 resistance level. The next major resistance level is around $0.6880. If the pump continues, the price may fall towards the $0.700 resistance level in the short term, even $0.720.
If XRP fails to break through the resistance level of $0.620, it may fall again. The initial support level is around $0.600. The next major support level is at $0.5880.
If there is a downward breakthrough and the price closes below $0.5880, the price may continue to fall to the support level of $0.570 or the 50% Fibonacci retracement level of the upward trend from the swing low of $0.4922 to the high of $0.6477. The next major support level is at $0.540.
technical indicator:
MACD per hour - MACD of XRP/USD is currently accelerating in the bullish zone.
The hourly RSI (Relative Strength Index) for XRP/USD is now above the 50 level.
Key support levels - $0.600 and $0.5880.
Key resistance levels - 0.6200 USD and 0.6400 USD.
Current XRP price is $0.6414. It's showing strong potential to hit $0.79 by the end of August. Key resistance levels to watch are $0.65 and $0.75. Support is solid at $0.60. For day traders, consider setting stop losses at $0.60. Long-term holders can aim for the $1 mark if momentum continues.
$XRP
$XRP
The Impact of Japan's Economic Moves on the Crypto Market.
The Bank of Japan's recent rate hike has sent ripples through global markets, including cryptocurrencies. This move, combined with hawkish economic signals, has contributed to significant market corrections. With Bitcoin and altcoins experiencing notable declines, it's crucial to understand how traditional economic policies affect the crypto landscape. Read on to grasp the broader implications and adjust your strategies accordingly.
$BTC $ETH $BNB
The Bank of Japan's recent rate hike has sent ripples through global markets, including cryptocurrencies. This move, combined with hawkish economic signals, has contributed to significant market corrections. With Bitcoin and altcoins experiencing notable declines, it's crucial to understand how traditional economic policies affect the crypto landscape. Read on to grasp the broader implications and adjust your strategies accordingly.
$BTC $ETH $BNB
$BTC Next Week BTC: Key Levels to Watch**
Bitcoin has been holding strong above the $55,000 mark, but the next few days are crucial. Expect resistance at $58,500; if it breaks, we could see a push to $61,000. On the downside, support at $54,000 is critical. A breach here could send BTC to $52,000. Set stop loss just below these levels to mitigate risks. Engage in small swing trading with 10% leverage for optimal returns.
Bitcoin has been holding strong above the $55,000 mark, but the next few days are crucial. Expect resistance at $58,500; if it breaks, we could see a push to $61,000. On the downside, support at $54,000 is critical. A breach here could send BTC to $52,000. Set stop loss just below these levels to mitigate risks. Engage in small swing trading with 10% leverage for optimal returns.
đš Crypto Market Alert: Navigating the Storm đš
In the past 24 hours, we've witnessed a massive shakeup in the crypto market. Bitcoin plummeted to $49,300, while Ethereum dropped 22%, marking one of the steepest declines since 2021. This dramatic downturn has led to over $1 billion in liquidations, affecting major cryptos like Solana, Dogecoin, XRP, and PEPE .**What's Causing the Chaos?
1. **Global Economic Concerns**: Recent U.S. economic data has spiked recession fears.
2. **Geopolitical Tensions**: Rising conflicts in the Middle East are adding to the market's uncertainty.
3. **Major Sell-Offs**: Key players like Jump have been offloading assets, exacerbating the decline
Stay Ahead of the Curve**Despite the turmoil, some analysts believe this dip could be a precursor to a bull run, reminiscent of the 2016 market conditions. Now might be the time to strategize and potentially capitalize on the dips.
Join the Discussion**Share your thoughts on the market's future and your strategies for navigating these volatile times. Let's help each other stay informed and resilient!#CryptoMarket #Bitcoin #Ethereum #CryptoCrash #MarketStrategy
In the past 24 hours, we've witnessed a massive shakeup in the crypto market. Bitcoin plummeted to $49,300, while Ethereum dropped 22%, marking one of the steepest declines since 2021. This dramatic downturn has led to over $1 billion in liquidations, affecting major cryptos like Solana, Dogecoin, XRP, and PEPE .**What's Causing the Chaos?
1. **Global Economic Concerns**: Recent U.S. economic data has spiked recession fears.
2. **Geopolitical Tensions**: Rising conflicts in the Middle East are adding to the market's uncertainty.
3. **Major Sell-Offs**: Key players like Jump have been offloading assets, exacerbating the decline
Stay Ahead of the Curve**Despite the turmoil, some analysts believe this dip could be a precursor to a bull run, reminiscent of the 2016 market conditions. Now might be the time to strategize and potentially capitalize on the dips.
Join the Discussion**Share your thoughts on the market's future and your strategies for navigating these volatile times. Let's help each other stay informed and resilient!#CryptoMarket #Bitcoin #Ethereum #CryptoCrash #MarketStrategy
During the recent market adjustment, the number of Whale Addresses with Holdings over 100 BTC increased by 93ăAccording to the online analyst, the number of Whale Addresses with Holdings over 100 BTC increased from 15,913 to 16,006, an increase of 93, indicating that Whales are Buying the Dips.
The average mining cost of $BTC is $43,000. Arthur Hayes believes that no matter who is elected as the US president, the government will print money and cryptocurrency as Favourable Information.
Yesterday, the DEX volume exceeded 20.2 billion US dollars, reaching the third highest in history. Solana ($SOL ) performed strongly. The three major US stock indexes collectively rose, and the probability of a 50 basis point interest rate cut by the Federal Reserve in September exceeded 70%. The cryptocurrency market is currently in a stage of adjustment and consolidation. Long-term investors can gradually build a position, and short-term traders should closely follow market hotspots and policies.
Yesterday, the DEX volume exceeded 20.2 billion US dollars, reaching the third highest in history. Solana ($SOL ) performed strongly. The three major US stock indexes collectively rose, and the probability of a 50 basis point interest rate cut by the Federal Reserve in September exceeded 70%. The cryptocurrency market is currently in a stage of adjustment and consolidation. Long-term investors can gradually build a position, and short-term traders should closely follow market hotspots and policies.
đȘSolana Meme Coin Leads
The meme coin cat in a dogs world (MEW) based on $SOL was fortunate to be the best-performing Token of the day. This altcoin pumped 48.55% in the past 24 hours, reaching a price of 0.00611 US dollars.
âïž This meme coin has already recovered nearly half of its recent losses, and once $0.00769 becomes a support level, it could fully recover. However, this requires MEW to maintain its current bullish momentum.
If AltCoin loses its support level of $0.00602, it may eventually fall on the daily chart, and may fall to $0.00487 as the next support level. This would also invalidate the bullish argument.
The meme coin cat in a dogs world (MEW) based on $SOL was fortunate to be the best-performing Token of the day. This altcoin pumped 48.55% in the past 24 hours, reaching a price of 0.00611 US dollars.
âïž This meme coin has already recovered nearly half of its recent losses, and once $0.00769 becomes a support level, it could fully recover. However, this requires MEW to maintain its current bullish momentum.
If AltCoin loses its support level of $0.00602, it may eventually fall on the daily chart, and may fall to $0.00487 as the next support level. This would also invalidate the bullish argument.
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