NFT-New York helped ease crypto markets into a relief surge this week as big brands piled in and NFT coins surged. Meanwhile, crypto contagion was still in its painful “filter by liquidation” stage as DeFi attempted to self-regulate.
CEL +89.1%
TITAN +81.3%
SNX +72.5%
MATIC +56.9%
10SET +51.9%
FLEX -10.3%
KCS -1.9%
PAXG -1.7%
DFI -1.7%
XCN -0.7%
Sideways markets are the perfect time to explore Quadency’s Grid Trader bot. By setting up buys and sells within an auto-adjusting price range, Grid Trader can help traders profit from volatility in sideways markets.
Bitcoin (BTC) leveled out after weeks of destruction, up 3.5% over the last 7 days.
On the 2-hour BTC chart, we see that the drop and bounce back from the 17th to 19th of June formed a head for the reverse head and shoulder pattern. We confirmed the second shoulder on the 24th of June. A break in the neckline could lead to a short-term bull scenario, but keep an eye out for the “fake out” as the RSI is moving into overbought territory.
On the 1W BTC chart, we adjusted the Y-axis to a logarithmic scale. When we did that, we noticed a channel that formed in mid-2018 until today. Two weeks ago the price moved out of the channel. Keep an eye out for the next week to see if a new resistance will be forming underneath this channel.
Finally, we saw some green relief after weeks of wretched markets. Many of crypto’s top 100 alts saw double-digit gains this week while Layer-1s like Ethereum and Cardano moved more modestly.
This week has shown to be a strong week for some altcoins with double-digit gains. On the Ape Coin chart, we see that there is a channel that has formed since Mid-May. The price has been pushing the upper band of the channel for the last week and may possibly break out. If a breakout continues, keep an eye out on volume.
Turn TradingView alerts into executable signals with Quadency’s TradingView bot!
Bitcoin (BTC) leveled out after weeks of destruction, up 3.5% over the last 7 days.
On the 2-hour BTC chart, we see that the drop and bounce back from the 17th to 19th of June formed a head for the reverse head and shoulder pattern. We confirmed the second shoulder on the 24th of June. A break in the neckline could lead to a short-term bull scenario, but keep an eye out for the “fake out” as the RSI is moving into overbought territory.
On the 1W BTC chart, we adjusted the Y-axis to a logarithmic scale. When we did that, we noticed a channel that formed in mid-2018 until today. Two weeks ago the price moved out of the channel. Keep an eye out for the next week to see if a new resistance will be forming underneath this channel.
Finally, we saw some green relief after weeks of wretched markets. Many of crypto’s top 100 alts saw double-digit gains this week while Layer-1s like Ethereum and Cardano moved more modestly.
This week has shown to be a strong week for some altcoins with double-digit gains. On the Ape Coin chart, we see that there is a channel that has formed since Mid-May. The price has been pushing the upper band of the channel for the last week and may possibly break out. If a breakout continues, keep an eye out on volume.
Turn TradingView alerts into executable signals with Quadency’s TradingView bot!
As the 4th largest Layer-1 platform by market cap, Cardana (ADA) is one Ethereum Killer that trends often and gets a lot of press. The ADA token allocation had an unusually high percentage of tokens available for the public sales, which might explain its fervent community.
Read the complete ADA Coin Profile to learn more about Cardano’s tokenomics, roadmap, price evolution, and much more.
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Disclaimer: The content of this article is for general market education and commentary and is not intended to serve as financial, investment, or any other type of advice.
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