In their latest report, the analytics firm Glassnode is basically saying, “Look at this volatility risk!” Itâs like theyâre the weather forecasters of the crypto world, and theyâre predicting a storm while everyone else is packing their beach towels. đ
In a rather dramatic turn of events, TRX has climbed a staggering 6% on Tuesday. It has bravely broken above the $0.2875 level, only to meet the formidable resistance at $0.2980. One can only imagine the sighs of relief and despair echoing through the trading halls.
At this critical juncture, Ethereum’s strength is akin to a tightrope walker teetering on the edge of an ascending channel. The esteemed analyst M-log1, with a flair for the dramatic, has illuminated this precarious structure, declaring that ETH must break free from its current confines. Until such a momentous event occurs, the price action may remain ensnared within this structure, offering little more than a glimmer of hope for the weary bulls.
But wait, there’s more! This charming addition comes alongside the already established duo of BitGo and Kraken, who were handpicked for this grand repayment exercise. One can only imagine the delightful tea parties they must have had to decide this! âïž
According to the tarot cardâerm, technical analysisâconducted by the ever-astute MichaĂ«l van de Poppe, Bitcoinâs upward ascent suggests that weâre on track for a veritable rollercoaster of a week. Fancy that! As if the marketâs ever predictableâmore twists than a stocking on a Saturday night, I dare say.
So, Bitcoin’s back, darling! Up 1.7% in the last 24 hours, hitting a cool $109,505. Which, let’s be honest, sounds like Monopoly money at this point. And it’s only 2% away from its all-time high? Groundbreaking. đ
TAO’s market cap is sitting pretty at $3.82 billion, more than most small nations can boast. Trading volume? Oh, just $174.38 million in a dayâmore than enough to make day traders do backflips. Yesterdayâs volume? Over double that. Clearly, someoneâs gambling on this digital rollercoaster đą.
A paltry 2.45% surge! Is this what we now call a recovery? After that nauseating drop to the $140 slums? Oh, the indignity! This altcoin, once so proud, has indeed scrambled out of its multi-month tombâa downtrend so profound it dragged the token to a 14-month nadir of $95. A pittance, I say, a mere prelude to further suffering.
But donât you worry, dear reader. According to the wise cryptic oracle CryptoQuant – that posthumous prophet penned by the mysterious Darkfost – the net position of these short-term desperados has plummeted a staggering 833,000 BTC over the past month. A tragic figure, considering that during the Aprilâs epic showdown, they lost nearly 977,000 BTC. Clearly, the short-term crowd is a fickle bunch, prone to tantrums especially when Bitcoin dares to dip below $80,000 and wail at $74,508. As Darkfost ominously remarks, they have become “much more sensitive,” as if their emotional baggage had grown a few sizes last week.
Since the dawn of this year, Ethereumâs been goinâ through some rough patchesâkind of like a riverboat captain with a busted paddle. But folks believeâyes, they doâthat if the bold bulls can just push past that $2,800 resistance and turn it into support, we might see a mighty olâ push upwards. Thatâd open the floodgates for a rippinâ altcoin rally, sure as eggs is eggs. đ„