$SPONGE (SPONGE/USD) Traders Cash In on Successful Trading Strategy

On January 19, the market tested the $0.0012 price level before initiating a downward trend. The bullish intervention, observed around the $0.0008436 price level on January 21, led to expectations that bullish traders would drive the market toward the targeted price of $0.0012. This anticipated target was successfully reached during the trading session on January 24. However, the long-term profit-taking outlook at this resistance level has prompted a substantial $SPONGE price correction, bringing the market down to the vicinity of the $0.0004 price level.

Key Market Dynamics:

  • Resistance Levels: $0.0010, $0.0011, and $0.0012.
  • Support Levels: $0.00040, $0.00035, and $0.00030.

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Comprehensive Technical Analysis for $SPONGE (SPONGE/USD):

The $SPONGE market experienced a pronounced decline, as evident from the Relative Strength Index. This decline led to a retracement to the $0.0004 support level, a level previously established as support in December. Analyzing the chart reveals an influx of traders capitalizing on the sharp dip from the $0.0004 price level. It is plausible that these are new market participants crypto signals from the chart, whereas existing traders might still be navigating the bearish market sentiment.

Notably, the current bullish response appears to be driven largely by the activity of these new traders, as the $0.0008 price level is emerging as a resistance point. Maintaining the upper support level, now identified at the $0.00067 price level, is crucial for sustaining the ongoing bullish price recovery. If this support holds, it could attract additional traders, contributing to the continuation of the upward trend.

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Insights from the 1-Hour Perspective:

Examining the 1-hour chart perspective of the market reveals a notable higher support level at $0.00067. The prevailing bullish sentiment is successfully countering the bearish pressure, particularly in proximity to the $0.0008 price level. Sustaining this bullish stance at the current price level is pivotal. Should the bullish traders effectively maintain control, it could attract additional market participants, fostering a potential upward rally in the price.

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Dash 2 Trade Price Prediction for Today, January 25: D2TUSD Sellers Holding Back at $0.00449 Price Level

Dash 2 Trade Price Forecast: D2TUSD Sellers Holding Back at $0.00449 Price Level (January 25)
D2TUSD selling pressure may end soon and the possibility for sellers holding back at the current support of $0.00449 value is very crucial at the moment as the coin price has been outrageously oversold. The coin will still go further if sellers can hold back at the current support at the $0.00449 level. The crypto’s price may resume and continue its upside moves to retest the $0.00588 previous high level which could further target the $0.01000 supply amidst the market surge, provided buyers increase their price actions in the market.

Key Levels:
Resistance levels: $0.00700, $0.00800, $0.00900
Support levels: $0.00500, $0.00400, $0.00300

D2T (USD) Long-term Trend: Bearish (4H)
The Dash 2 Trade price is forming lower lows and lower highs on its long-term chart. Further, the price is trading below the two EMAs; which means that it’s in a bearish market zone at the moment.
Dash 2 Trade Price Prediction for Today, January 25: D2TUSD Sellers Holding Back at $0.00449 Price Level
The sustained dip to the $0.00453 level in the past trading session has made the cryptocurrency price remain below the supply trend levels in its recent low.

In the meantime, the coin’s market situation has not stagnated despite the present price, which is $0.00449 support value below the supply trend lines. Moreover, investors can take advantage of this current opportunity to purchase the currency at a discount to pursue future gains.

Additionally, the price of D2TUSD is headed downward at the daily stochastic 19% range. It suggests that the coin price is currently in the oversold area of the market. It implies that the pressure to sell would be subsided sooner.

We will now be looking into the emergence of more buyers in the oversold region of the market. This crossover could encourage the breakout rally to hit the $0.01000 supply level in the days ahead in its higher time frame.

D2T (USD) Medium-term Trend: Bearish (1H)
The coin also trades in a bearish trend market in the medium-term outlook. This is due to the high impact of short-term traders on the price flow.
Dash 2 Trade Price Prediction for Today, January 25: D2TUSD Sellers Holding Back at $0.00449 Price Level
The sell traders made a downward move to the $0.00454 support level before the end of yesterday’s session. This gave sellers more strength to drop the price of Dash 2 Trade below the supply trend lines in its recent times.

Today, the bulls are trying hard to remain above the $0.00497 supply mark, so the coin price can pull back at the current support of $0.00449 to invalidate the bearish theory.

However, long traders can join the market or invest in the crypto with the current trend and buy at a lower rate for more gains in the future. This will reflect an increase in the trend momentum.

With the overall market trend still bearish, the D2TUSD price is likely to plunge higher and retest the high accumulation zone of the $0.00497 level.

In continuation, the market price of Dash 2 Trade is in the oversold region of the stochastic, this means that the selling pressure is ending soon, and the expected upside move in the price could be high at $0.01000 swing high in the coming days in its medium-term outlook.

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Exploring the Top 10 BRC20 Tokens: A Quick Overview

BRC-20 tokens represent a novel class of fungible digital assets embedded within the Bitcoin blockchain. Distinguished by their unique inscriptions on Bitcoin’s satoshis through JSON code, these tokens stand apart from their conventional counterparts found on platforms like Ethereum. The BRC-20 standard introduces an innovative approach to leveraging Bitcoin, enabling the seamless creation and transfer of tokens within the Bitcoin ecosystem.

The following are the top 10 BRC20 tokens according to the CoinMarketCap ranking: ORDI, SATS, Multibit, LeverFi, OXBT, 1000SATS, rats, BRC20.com, Mice, MMSS.

ORDI (ORDI)

The ORDI market holds the highest position on the list, boasting a CoinMarketCap ranking of 57. A careful analysis of the chart reveals a pronounced bearish momentum, leading to a downward divergence in the lower standard deviation of the Bollinger Band. Nevertheless, there are discernible indications suggesting a potential price rebound, as bullish intervention is anticipated around the $50 support level.

Exploring the Top 10 BRC20 Tokens: A Quick Overview

Key Market Metrics

  • Current Price: $99
  • 24-Hour Trading Volume: $246,642,283
  • Performance in the Last 24 Hours: 66% Gain
  • Circulating Supply: 21,000,000 ORDI
  • Market Capitalization: $1,112,895,494
  • Total Supply: 21,000,000

SATS (1000SATS)

The SATS market secures the second position among the top BRC20 Tokens, holding the 69th position on the CoinMarketCap ranking. Despite maintaining a consistent range around the $0.00060 price level since January 6, the market has exhibited notable volatility. However, despite ongoing efforts by bulls, the price has not experienced a rally from the $0.0006 level; instead, selling pressure has prevailed, leading to a decline towards the $0.0004 price level. There is potential for a bullish intervention to unfold at this juncture.

Exploring the Top 10 BRC20 Tokens: A Quick Overview

Key Market Metrics

  • Current Price: $0.00042
  • 24-Hour Trading Volume: $58,151,059
  • Performance in the Last 24 Hours: 15% Loss
  • Circulating Supply: 2,100,000,000,000 1000SATS
  • Market Capitalization: $893.48M
  • Total Supply: 2,100,000,000,000 1000SATS

Multibit (MUBI)

Multibit holds the 284th position on CoinMarketCap. The market is showing signs of potential preparation for a rally, with the price action indicating a support level at $0.139. As the price approaches this level, the candlestick patterns suggest a notable decrease in momentum. To validate the likelihood of a price rally, the Relative Strength Index (RSI) is presently hovering around the 42 level.

Exploring the Top 10 BRC20 Tokens: A Quick Overview

Key Market Metrics

  • Current Price: $0.1381
  • 24-Hour Trading Volume: $12,162,753
  • Performance in the Last 24 Hours: 22% Gain
  • Circulating Supply: 950,000,000 MUBI
  • Market Capitalization: $131,441,052
  • Total Supply: 1,000,000,000 MUBI

LeverFi (LEVER)

Presently, the LeverFi market is consolidating around $0.001281, with the ongoing standoff or tug-of-war between demand and supply intensifying, indicating a potential breakout. This is notably observed as the Bollinger Bands converge to form a narrow price channel. However, the bears’ inability to sustain a bearish trend below $0.001281 and the bullish weakness in rallying the price upward suggest that the consolidation phase may persist.

Exploring the Top 10 BRC20 Tokens: A Quick Overview

Key Market Metrics

  • Current Price: $0.001309
  • 24-Hour Trading Volume: $4,269,725
  • Performance in the Last 24 Hours: 72% Gain
  • Circulating Supply: 28,875,422,744 LEVER
  • Market Capitalization: $37,817,789
  • Total Supply: 34 Billion

OXBT (Ordinals) (OXBT)

This market ranks fifth on the list. Upon reaching the $0.0238 price level, a substantial bullish response was initiated, forming a hammer candlestick—an indicative bullish signal. The market appears to be in a recovery phase, with the next potential target at $0.00243.

Exploring the Top 10 BRC20 Tokens: A Quick Overview

Key Market Metrics

  • Current Price: $0.0240
  • 24-Hour Trading Volume: $131,738
  • Performance in the Last 24 Hours: 75% Gain
  • Circulating Supply: 200,000,000 OXBT
  • Market Capitalization: $4,773,147
  • Total Supply: 200,000,000 OXBT

SATS (Ordinals) (SATS)

The SATS market is currently exhibiting bearish momentum, having broken out of a sideways price range around the $0.00000042 level. The SATS bull market tested the $0.0000009 level twice, the crypto signal is revealing a limitation in the ability of the bulls to drive the price beyond that point. The diminishing bullish strength is evident as successive price peaks decline, indicating the growth of bearish momentum and resulting in a notable bear market. Nevertheless, as the market approaches the $0.0000004 level, the waning bearish momentum suggests the potential for bullish intervention at this point.

Exploring the Top 10 BRC20 Tokens: A Quick Overview

Key Market Metrics

  • Current Price: $0.00000042
  • 24-Hour Trading Volume: $31,071,181
  • Performance in the Last 24 Hours: 10% Loss
  • Circulating Supply: 2,100,000,000,000,000 SATS
  • Market Capitalization: $883,069,838
  • Total Supply: 2,100,000,000,000 1000SATS

rats (Ordinals) (rats)

The market for rats has recently touched the $0.0002 support level but has faced resistance in breaking through this bullish position. The convergence of supply and demand forces at this level has impeded further upward movement in price action. This shift in the market suggests the potential for an imminent price rally. However, given the declining trade volume, the bullish momentum may encounter challenges in surpassing the $0.000376 resistance level, possibly forming a rectangular price pattern.

Exploring the Top 10 BRC20 Tokens: A Quick Overview

Key Market Metrics

  • Current Price: $0.00023
  • 24-Hour Trading Volume: $20,670,392
  • Performance in the Last 24 Hours: 87% Gain
  • Circulating Supply: 1,000,000,000,000
  • Market Capitalization: $221,447,260
  • Total Supply: 1,000,000,000,000

BRC20.COM (.COM)

In December of the previous month, this market concluded its initial bullish cycle, reaching a peak of approximately $7.201. The bear market originated from this high on December 19. Despite the considerable presence of bullish sentiment, the bear market exhibited sluggishness. However, with the market retracing back to the initiation point of the last bullish cycle, there is potential for a rally at this juncture. Supporting this anticipation, the candlesticks are displaying reduced volatility as they approach the crucial $1.56 price level, which serves as a key support.

Exploring the Top 10 BRC20 Tokens: A Quick Overview

Key Market Metrics

  • Current Price: $1.827
  • 24-Hour Trading Volume: $4,888,512
  • Performance in the Last 24 Hours: 99% Loss
  • Circulating Supply: 21,000,000 .COM
  • Market Capitalization: $39,324,588
  • Total Supply: 21,000,000 .COM

Mice (Ordinals) (MICE)

The market is poised for an upward rally as the price action exhibits a growing tendency to flatten near the critical support level of $0.01183, which corresponds to the opening price on December 18. On that day, significant buying activities propelled the market price to $0.12. Subsequently, the bear market was initiated, leading to the current position. With the waning bearish momentum, there is an expectation for bullish momentum to regain dominance.

Exploring the Top 10 BRC20 Tokens: A Quick Overview

Key Market Metrics

  • Current Price: $0.0148
  • 24-Hour Trading Volume: $4,864,657
  • Performance in the Last 24 Hours: 53% Gain
  • Circulating Supply: 1,000,000,000 MICE
  • Market Capitalization: $14,889,304
  • Total Supply: 1,000,000,000 MICE

MMSS (Ordinals) MMSS

The market landscape reveals a compelling struggle between downward pressures and upward momentum. Recent sessions depict a canvas of green price candles with a centrally positioned body, while the ongoing session showcases a dash-shaped body, indicating market dynamics that are indicative of strong indecision. Despite bears having the upper hand with price action below the Bollinger Bands’ midpoint, a silver lining emerges as the RSI lines climb slightly out of oversold territory, suggesting a potential surge in buyer momentum. Consequently, the market is delicately poised, presenting a balanced probability of upward and downward corrections, hovering around the $0.4626 resistance and $0.3430 support marks.

Exploring the Top 10 BRC20 Tokens: A Quick Overview

Key Market Metrics

  • Current Price: $0.479
  • 24-Hour Trading Volume: $4,437,500
  • Performance In the Last 24 Hours: 45% Gain
  • Circulating Supply: 21,000,000 MMSS
  • Market Capitalization: $10,265,374
  • Total Supply: 21,000,000 MMSS

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Enjin Coin (ENJUSD) Bulls and Bears Engage in Cautious Dance

ENJUSD Analysis – Buyers are Building Strength Again 

Enjin coin bulls and bears engage in cautious dance. The year 2024 has brought a cautious dance to the Enjin Coin (ENJUSD) price chart as bulls and bears grapple for control. This has resulted in a volatile, sideways trend with occasional flashes of potential and periods of consolidation.

ENJUSD Key Levels

Resistance Levels: $0.432100, $0.580000
Support Levels: $0.335200, $0.205700

Enjin Coin (ENJUSD) Bulls and Bears Engage in Cautious Dance

After retracing back to the $0.28550 market level, bulls managed to break through the consolidation phase. Following a period of accumulation last year, buyers fueled up and made a significant push towards the next key level. Although sellers attempted to make a U-turn, the strength of the buyers kept pulling the price forward, particularly in December.

However, after a slump in December, Enjin Coin started 2024 with a decline surge. Sellers exerted downward pressure, eventually breaking through the key level of $0.350000. Although buyers briefly surpassed the $0.33 resistance level this month. This therefore indicates renewed buying interest and a potential reversal of the downtrend. Their journey was short-lived as sellers regained control and pressed further in the market. The buyers have been facing strong opposition from sellers for some time now.

Enjin Coin (ENJUSD) Bulls and Bears Engage in Cautious Dance

Market Expectation

The testing ground for the sellers is a significant level of $0.25600. At this level, buyers may attempt to build a stronghold and defend against further downward pressure. The Stochastic Oscillator, a momentum indicator, suggests that the selling momentum is already coming to an end. This indicates a potential shift in favor of the buyers.

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Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Chiliz (CHZUSD) Buyers Show Resilience Above the $0.09400 Significant Level

CHZUSD Analysis – The Bulls Seek to Continue the Expedition

Chiliz buyers show resilience above the $0.09400 significant level. CHZUSD has seen buyers build strong resilience above the significant level of $0.09400. This indicates that the bulls have not given up on their expedition. The battle for dominance between buyers and sellers has been intense this week, with Chiliz experiencing market turns at every point.

From last week to this week, the bulls have been determined to break through the price zone of $0.112300. However, the sellers have been active, preventing the buyers from making progress for several days. This ongoing struggle explains the current holdback in the market.

Chiliz Key Levels

Resistance Levels: $0.13320, $0.11230
Support Levels: $0.07100, $0.06620

Chiliz (CHZUSD) Buyers Show Resilience Above the $0.09400 Significant Level

The bullish charge began when Chiliz picked up from the significant level of $0.071060 earlier this year. It was at this point that buyers became aggressive and started pushing the price higher. However, above the key zone of $0.09400, the struggle has been ongoing for days. Despite the resistance from sellers, buyers are showing no signs of backing down. They are currently cooking up solid gains against the selling influence in the crypto market. Their determination is likely to change the narrative for Chiliz before the end of this month.

Traders should anticipate further progress from the buyers this week. The Money Flow Index, which measures the flow of money into or out of a security, is still above the 80.00 level. This indicates strong buying pressure and suggests that buyers are in control. The price direction flow is also high in favor of the bulls, further supporting the notion of a bullish trend. Chiliz will likely experience more bullish drives as buyers continue to show resilience in the market.

Chiliz (CHZUSD) Buyers Show Resilience Above the $0.09400 Significant Level

Market Expectation 

The ongoing battle between buyers and sellers has created a market turn at each point. Despite the sellers’ attempts to prevent the bulls from making progress, buyers are determined to push forward. Their resolve is bound to change the narrative for Chiliz before the end of this month.

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Fetch.ai (FET/USD) Witnesses Strong Rejection Below Key $0.6 Price Level in Recent Price Action

When the Fetch.ai market reached the $0.8 price level, a notable rejection of the bullish price occurred, leading bullish traders to reconvene at the $0.600 price level. This recent development, marked by the emergence of $0.800 as resistance and the $0.600 price level as support, signifies a consolidation phase observed between December 20 of the previous year and January 20 of the current year. The heightened market volatility is influencing a subtle shift towards a bearish trend. In the last three days, the market temporarily dipped below the $0.600 support level, prompting a swift and robust bullish response, ultimately rejecting the bearish price movement.

Fetch.ai Market Data

  • FET/USD Price Now: $0.58
  • FET/USD Market Cap: $486,531,416
  • FET/USD Circulating Supply: 831,603,695 FET
  • FET/USD Total Supply: 1,152,997,575 FET
  • FET/USD CoinMarketCap Ranking: #109

Fetch.ai (FET/USD) Witnesses Strong Rejection Below Key $0.6 Price Level in Recent Price Action

Key Levels

  • Resistance: $0.65, $0.70, and $0.75.
  • Support: $0.55, $0.50, and $0.45.

The Fetch.ai: A Comprehensive Analysis of Crypto Signals and Indicators

Throughout the consolidation phase, the Fetch.ai market maintained considerable volatility, resulting in notable fluctuations during various trading sessions. The downtrend exhibited more pronounced swings than its upward counterpart. Consequently, the bear market has tested the key support level approximately 3 to 4 times, encountering rejection within the same session. This suggests that bearish traders may be exerting pressure for lower price levels, yet the repeated and immediate rejections may indicate a lack of strength to sustain the downward trend.

Investors should take note of this crypto signal, specifically the lower high formed at $0.77 on January 11 and another lower high at the $0.700 price level on January 16. These lower highs elucidate the reason for the brief break in the support level for three days.

Furthermore, the Relative Strength Index continues to measure momentum at the 41 level, highlighting the increasing bearish momentum in the market. This is further confirmed by the Bollinger Bands, which, although still indicating a high level of volatility, show a downward movement in the lower standard deviation curve and the 20-day moving average. The crypto signals from the indicators are pointing towards the development of bearish momentum.

Fetch.ai (FET/USD) Witnesses Strong Rejection Below Key $0.6 Price Level in Recent Price Action

FET/USD 4-Hour Chart Outlook

Examining the market through a shorter timeframe, specifically the 4-hour chart, reveals a downward tilt in the price channel, suggesting a potential continuation in the downward direction. It is observed that despite bullish attempts to drive the price higher, there is a struggle to reclaim levels above the $0.60 mark, which previously served as a significant market support level. Consequently, there is a likelihood that bullish forces may gather around the $0.55 price level in an effort to rally the price.

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Core Scientific Resumes Trading on Nasdaq After Bankruptcy Exit

Texas-based bitcoin mining company Core Scientific has triumphantly exited Chapter 11 bankruptcy and is back in action on the Nasdaq as of Wednesday.

The company’s resurgence follows a challenging period marked by crypto price fluctuations and market disruptions, leading to debts exceeding $400 million owed to major creditors such as BlackRock and B. Riley.

Undeterred by the financial hurdles, Core Scientific strategically restructured its debt, opting for conversion into equity.

Additionally, the company utilized cash and warrants to settle some of its obligations. Most importantly, Core Scientific also attracted fresh financing from both existing and new investors, a move aimed at bolstering its ambitious growth plans. The company also announced a new Board of Directors, comprising six new independent directors, including:

  • Todd Becker
  • Jeff Booth
  • Jordan Levy
  • Jarrod Patten
  • Yadin Razov
  • Eric Weiss
  • Adam Sullivan, President and Chief Executive Officer of Core Scientific, Inc.

In a press release, Adam Sullivan, the CEO of Core Scientific, expressed confidence in the company’s revival, emphasizing a commitment to executing a “pragmatic growth plan.” Sullivan outlined the company’s vision to “create value by transforming energy into high-value compute for bitcoin mining and other applications.”

Operating mining facilities with a substantial 724 megawatts of power across five U.S. states, Core Scientific has outlined plans to boost its mining capacity by over 50% within the next four years. The company aims to deploy new Bitcoin miners strategically in anticipation of the upcoming halving, an event set to reduce the reward for mining new blocks.

Core Scientific Pulls Back from the Abyss Despite Bitcoin ETF Approval-Induced Volatility

This comeback announcement from Core Scientific unfolds against the backdrop of a volatile period for the crypto industry. The recent approval of multiple spot bitcoin exchange-traded funds (ETFs) in the U.S. on Jan. 10 adds an extra layer of complexity to the market.

While these ETFs are anticipated to enhance liquidity and accessibility for Bitcoin, concerns arise regarding potential challenges to the profitability and valuation of crypto platforms, as evidenced by Coinbase’s recent stock downgrade by JPMorgan.

Analyst Kenneth Worthington cautioned that the impact of spot bitcoin ETFs could potentially lead to lower token prices, trading volumes, and revenues for major crypto platforms.

 

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The Bitcoin (BTC/USD) Trade Loses Points, Bumping a Base

Bitcoin Price Prediction – January 24

Anear assessment procession has been technically observed in the exchanging line activities of the business operations of Bitcoin versus the market valuation of the US coin as bulls are getting a resettling pattern, given that the crypto economy trade currently loses points, bumping a base up above the underlying support of $37,500.

The market’s velocity in the previous few days prompted a corrective step that might have occasionally caused a full depressurization of the transaction lines. According to the way the daily candlesticks have been forming since yesterday’s session, bulls in the market should be able to gather the necessary momentum to push back into recovery moves, whether they are short-term or long-term, as long as no more sell-off is permitted to occur between the middle and lower Bollinger Bands.

BTC/USD Market
Key Levels:
Resistance levels: $42,500, $50,000, $52,500
Support levels: $37,500, $36,500, $35,500

BTC/USD – Daily Chart
The BTC/USD daily chart reveals that the crypto-economic trade loses points downward to average the point of $37,500, bumping a base around the point of $40,000.

The present trade situation is showcasing that the market line has been relatively hovering around the lower Bollinger Band trend line with a lesser force to back any possible more falls in the course of doing it. To indicate an affirmatory note to that effect, the stochastic oscillators have found their way down into the oversold region.
The Bitcoin (BTC/USD) Trade Loses Points, Bumping a Base

If the market is currently oversold, should bears in the Bitcoin/USD market continue to press against $40,000?

As of the time of this psychological piece, the motion on the marketer has been running in a pause moment, as that could cause an indecision for a while, given that the chief BTC/USD  market currently loses points, bumping a base.

Contrary to investors’ tendency to start adding to the size of their position sizes in the BTC’s current trading zone, long-position placers are advised to follow price action techniques to support their entry whenever there is a chance of increasing gravitational pressure.

Sellers have the tendency to experience additional downward pressure, especially in cases where the market is to move slowly and steadily for some time. It would make perfect sense to assume that bears may put muscles out at a later time in light of the notion that they will materialize if bulls get weakened along the line.
The Bitcoin (BTC/USD) Trade Loses Points, Bumping a Base
BTC/USD 4-hour Chart
The BTC/USD 4-hour chart reveals the crypto market loses points initially close to $37,500, bumping a base around the lower Bollinger Band.

The whole part of the Bollinger Bands has been systemically placed southerly to showcase most of the strategical bargaining values that have been involved in the ups and downs, as it suits the trend. Based on the hourly technical outlook assessment, the market has a tendency to surge higher, indicating that any new falling force could trigger a series of corrections, particularly from around its point in the middle Bollinger band zone, as an overbought condition has been demonstrated by the presence of stochastic oscillators in the overbought region.

Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.


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ApeCoin (APEUSD) Is Struggling to Find Direction

Market Analysis – Price Volatility is Still Quiet

ApeCoin (APEUSD) is struggling to find direction as buyers and sellers battle. The price has been facing a streak of struggle in the market, with both buyers and sellers pushing their limits in search of a breakthrough. The battle between the bulls and the bears has intensified, creating a sense of uncertainty in the market. This week, the sellers have been exerting strong downward pressure, aiming to break through the significant level of $.1260. However, in the previous week, the bulls showed some attention but failed to make significant progress.

APEUSD Key Levels

Resistance Levels: $2.180, $1.910
Support Levels: $1.540, $1.260

ApeCoin (APEUSD) Is Struggling to Find Direction
Since the beginning of this month, the sellers have made a strong push, penetrating heavily into the market and pulling the price below the market level of $1.540. Over time, the sellers have managed to drive the price down to a significant level of $1.260. Despite these efforts, the crypto price still lacks the fuel to drive forward, and both traders are currently holding back.

From the Bollinger Band indicator, which measures price volatility, it is evident that the market participants have not yet exerted their full strength. The price compression on the 4-hour chart indicates a period of consolidation and indecision among traders. The lack of significant price movements suggests that the market is waiting for a catalyst to drive it in a particular direction.

Additionally, the momentum indicator shows that the flow of ApeCoin is yet to pick up pace. This further reinforces the notion that the market is currently in a state of struggle, with neither the buyers nor the sellers gaining a clear advantage.

ApeCoin (APEUSD) Is Struggling to Find Direction

Market Expectation

Traders should closely monitor the price action and look out for a strong rise in momentum as a potential signal for a breakout. ApeCoin is currently quiet in terms of price movement. However, a breakthrough either above the significant level of $.1260 or below the level of $1.540 is anticipated. This breakout could provide clarity and direction for the market.

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NoteCryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.