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Despite ending the week in the red, altcoins have shown some positive dynamics at the start of the week as most assets have shown a modest rally. A low is a sign of weakness for the bulls, and a negative move would most likely boost the market. fix.
One of the biggest gainers in the market today is Cosmos (ATOM), which has gained more than 2% in the last 24 hours. However, the asset’s positives are not without negatives as it has broken below the critical support level of the 50-day moving average. The lack of foundation below ATOM could be a worrying sign as the asset’s movement in the downtrend could accelerate from here.
In contrast to ATOM, Shiba Inu is battling at the 50-day moving average resistance level and looking to break through the poor support of the SHIB Bull. Low trading volumes and no inflows will most likely continue the consolidation around the current price. Breakthroughs are still possible, but will have little impact on token volatility.
$18,000 support seems to be one of the strongest levels Bitcoin Faced recently as the bulls are no longer able to push the price of the first cryptocurrency below its fundamental threshold.
The current price level of the first cryptocurrency appears to be the lower end of the integration channel Bitcoin has moved to in recent months. According to the performance of the first asset, the upper limit is about $24,000.
However, the lack of trading volume and inflow into the asset indicates that the asset is most likely going sideways with no major events scheduled in cryptocurrencies or financial markets in general.
The only thing that could shake both markets is the potential default of Credit Suisse, one of the world’s largest investment banks. The story behind a potential $1.5 trillion market crash covered by U.Today.
Courtroom success was the main driver of XRP’s extraordinary 55% rise, but once the turmoil subsided, the cryptocurrency quickly reversed, losing almost 50% of what it had previously gained. However, the bulls were able to push it back.
Currently, XRP’s price performance forms something akin to a symmetrical triangle. This is a common indicator of a volatile asset going through a short-term, volatile rally. After an asset tops out and consolidates, bulls and bears start pushing the asset in their own way, Volatility spikes in either direction.
It’s hard to tell which direction XRP will go after reaching the end of the triangle, but unless unusual buying activity appears in the market following Ripple’s victory in court, the cryptocurrency will continue to grow. It suggests that it is most likely to continue to fall further. seconds.
