This Bitcoin Momentum Signal Preceded Last October’s Crash — Another Downturn...
After a steep downturn in early February, the Bitcoin price saw a significant turnaround over the following two months. While the month of May initially continued on this positive note, the premier cryptocurrency seems to have cooled off over the past week — aligning with BTC’s track record of not registering three consecutive months of positive price action during a bear-market year. Interestingly, recent on-chain observations suggest that trouble might be brewing for the Bitcoin price, at least in the near term. Could The Bears Take Over The Bitcoin Market Again? In a new post on the X....
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LUNA’s price still risks correcting, however, with a weakening RSI and decreasing trading volume. A technical setup that preceded an 80% price rally in the Terra (LUNA) market in August 2021 has appeared again.LUNA paints bullish MACD crossoverThe technical setup involves a so-called “signal line crossover” between LUNA’s weekly MACD line — equal to the difference between the token’s 12-week and 26-week moving averages (MA) — and the nine-week MA called the signal line, plotted above the zero line, as shown in the chart below.LUNA/USD weekly MACD illustration. Source: TradingViewTogether,....
XRP has defended support at $2.90 and made several attempts to push above $3.10 over the past week. Although XRP bulls have managed to hold above $3, the cryptocurrency hasn’t really followed rallies witnessed by Bitcoin and Ethereum in the past 24 hours. Nonethless, XRP’s price action in the past few days has caused its price chart to print a new technical setup that has previously marked the beginning of significant rallies, and history might repeat itself again. Related Reading: Bitcoin Breaks $123,000 As Rising Open Interest Signals More Action Ahead Bullish XRP Technical....
As devastating as Wednesday’s crypto crash was, few hodlers lost as much as Ethereum Co-Founder Vitalik Buterin. According to CNN, Buterin’s public wallet was valued at $1.1 billion on the morning of the downturn. But following the crash, it stood at $870 million. Markets bounced back as the selling eased off. But prices are still […]
Popular Solana-based meme coin BONK has just flashed a major buy signal following a dramatic 40% price crash over the past week. The TD Sequential indicator, a technical tool for identifying trend exhaustion and price reversals, suggests that the meme coin may be gearing up for a strong rebound to new highs. This could be a prime entry for investors amid the current market downturn. New Buy Signal Sparks Rebound Hopes For BONK According to a new report shared by Ali Martinez, a prominent crypto analyst on X (formerly Twitter), the TD Sequential indicator has flashed a ‘9’ buy signal on....
In my previous analysis titled Wide Divergences, I had pointed out some eerie disconnects between the Bitcoin price action and the technical indications. It is highly possible that the price eased a little in order to properly reflect the underlying technical considerations. Bitcoin is currently trading down 1.32% at $275.99. However, I am very concerned about the incessant crash in the momentum reading, which is worsening by the day. A decline in the momentum value in flat trading cannot bode well for the long holders. Read below the technical observations of the daily BTC-USD price....