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Exciting developments are heating up in the decentralized universe. CoinCenter formulated legal answers to Tornado Cash sanctions and a massive DAO vote released $74 million to team and development funds for the Uniswap ecosystem. Exchanges are preparing for the Merge and Bitcoin (BTC) struggled to gain momentum after last week's plunge.
Markets are very antsy with a big change in the works for Ethereum and an extreme amount of FUD coming from every direction. In a nutshell, markets are volatile.
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Bitcoin has been fighting to build momentum this week and finally managed to inch out of the $21,000 support zone. Inflationary pressures continued to increase worldwide with energy prices soaring in the Eurozone, wreaking havoc with traders’ risk appetites.
On the 2-hour BTC chart, we're seeing the 20 and 50 EMA duking it out!
Keep an eye out for these two indicators, for we tend to see buy pressure when the 20 EMA crosses over the 50 EMA. Now, if the gap widens between the 20 EMA and 50 EMA, expect downward price pressure.
We're deep in bear territory as we find the current Bitcoin price far from the Senkou Span A.
The Senkou Span derives from the Kumo cloud. The Senkou Span A represents the price's equilibrium between the short-term & mid-term.
Several DAO tokens were in the top 10 gainers for the week including BitDAO (BIT) and CurveDAO, but most major alts were down between 5-10%. In a strange reversal, Ethereum (ETH) seemed to lead crypto markets this week. ETH price was climbing at a steadier clip than BTC’s and the Merge hype across markets is palpable.
CHZ has had a crazy ride the last 4 weeks; the higher the ride, the higher the fall.
Currently, CHZ is distancing itself from its ascending support line. If and when prices fall, make notice to see if it breaks below the line. There are three significant resistant points as indicated. There may be a nice short opportunity here.
TRON (TRX) lifted off during the 2017 ICO craze and since then has been a viable contender. With a charismatic founder like Justin Sun, the project’s reach has grown tremendously. But is the platform legit and will it continue to thrive?
Get the full scoop on TRON in our $TRX Coin Profile.
Bitcoin has been fighting to build momentum this week and finally managed to inch out of the $21,000 support zone. Inflationary pressures continued to increase worldwide with energy prices soaring in the Eurozone, wreaking havoc with traders’ risk appetites.
On the 2-hour BTC chart, we're seeing the 20 and 50 EMA duking it out!
Keep an eye out for these two indicators, for we tend to see buy pressure when the 20 EMA crosses over the 50 EMA. Now, if the gap widens between the 20 EMA and 50 EMA, expect downward price pressure.
We're deep in bear territory as we find the current Bitcoin price far from the Senkou Span A.
The Senkou Span derives from the Kumo cloud. The Senkou Span A represents the price's equilibrium between the short-term & mid-term.
Several DAO tokens were in the top 10 gainers for the week including BitDAO (BIT) and CurveDAO, but most major alts were down between 5-10%. In a strange reversal, Ethereum (ETH) seemed to lead crypto markets this week. ETH price was climbing at a steadier clip than BTC’s and the Merge hype across markets is palpable.
CHZ has had a crazy ride the last 4 weeks; the higher the ride, the higher the fall.
Currently, CHZ is distancing itself from its ascending support line. If and when prices fall, make notice to see if it breaks below the line. There are three significant resistant points as indicated. There may be a nice short opportunity here.
TRON (TRX) lifted off during the 2017 ICO craze and since then has been a viable contender. With a charismatic founder like Justin Sun, the project’s reach has grown tremendously. But is the platform legit and will it continue to thrive?
Get the full scoop on TRON in our $TRX Coin Profile.
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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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