After a 273% rally, this key indicator signaled that CELO price was overextended
Trading is “easy” when the trend is upward, but remember that in a bull market, cryptocurrencies take the stairs up and the elevator down. Now that altcoin season is upon us again, multiple tokens are witnessing illustrious price hikes every day. In a sideways market, a key skill for a trader is the ability to anticipate when an asset will break out — and when everything is green, knowing when the rallies are coming to an end becomes equally essential.This week, CELO embarked on a flash rally that generated an almost vertical line on its price chart, but then it quickly faded without....
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A Bitcoin trend indicator whose last appearance in 2017 had sent the prices 10 times higher appeared again this Wednesday morning. Dubbed as “Bitcoin MVRV Z-Score,” the indicator is nothing but a ratio of the difference between the cryptocurrency’s actual and realized market capitalization. Glassnode, the blockchain analysis platform that created the said metric, sees the score below zero as a sign of an undervalued Bitcoin. Meanwhile, anything above 7 indicates a market top—an overbought […]
Newly launched incentive programs and protocol upgrades were followed by 50% rallies in CELO, FTM and KP3R. The cryptocurrency market once again finds itself waiting for some form of catalyst to get the prices moving and this week commenced with the market moving sideways as Bitcoin struggles to find its footing near $48,000. Several altcoins have managed to break free of the wider market malaise and post impressive gains, giving credence to Cointelegraph's Markets Pro data intelligence service which is now indicating that altseason has arrived. Top 7 coins with the highest 24-hour price....
Bitcoin has plenty of room to rally, according to a fundamental analysis indicator that flagged the price bottom in March.
CELO price gained 50% ahead of the network’s May 19 'Donut’ hardfork which will help increase interoperability and lower gas fees. Decentralized finance (DeFi) has emerged as a transformational force for not just the cryptocurrency market, but for financial markets in general in 2021 thanks to the ease of access and security offered by blockchain-based protocols which operate on smart contracts.One project that is looking to take the simplicity of DeFi to the next level is Celo (CELO), an open blockchain ecosystem that makes financial tools accessible to anyone with a mobile phone. Data....
Ethereum saw a massive rally today that has allowed its price to firmly break above $600, which has long been a resistance level Following the break above this resistance, the cryptocurrency rallied as high as $630 before its rally got overextended and resulted in it retracing down towards $615 It is recovering from this pullback, but the price just above where it is currently trading at may persist as a strong resistance level in the […]