It was another round of selling orders for ETH, so the coin continued its moves to the downside. Psychological line at $2K is now too far away, while the coin is struggling to maintain $1K in value. Whether the bottom-line has been reached is to be seen in the coming days when markets calm down after the latest strong downtrend. During the Monday trading the...
By the theory of effective markets, all known facts about an asset are discounted to the present price as a reflection of the real current value of that asset. Something like this happened during the previous week on financial markets, including the crypto market. Expectations of the future prospectus of the business conditions were fuelled by both FEDs increase...
Last week in the news The FED has once again moved the markets to the negative territory. Another rate increase of 75bps and potential for another one in July, encouraged another sell off on the markets during the previous week. Bitcoin slipped below $20K support and Ether is modestly below $1K. At the FOMC meeting held during the previous week, the US...
LINK had an excellent start of the previous week, when its price managed to break the $8 long term resistance line, reaching its highest level at $9.6. Resistance line at $10 has not been tested on this occasion. Unfortunately, negative macro fundamentals pushed the price down to level of $7.1 as of the end of the week. Prevailing buying orders for LINK started...
Regardless of general market sentiment, it might be noted that this was the second good week in the row for ADA. Market showed that there is potential for this coin, as price moves were more oriented toward upside, rather than to the downside. During the first half of the week, the price of ADA was moving toward the $0.7 resistance line, however, US CPI spoiled...
BNB was under high pressure during the whole week. At the start of the week price was pushed shortly to the level of $313, but selling orders were prevailing with this coin during the whole week. Soon, price reverted to the downside and reached its lowest weekly level at $266 on Saturday trading. Support line at $250 has not been clearly tested, which opens a...
Selling orders were prevailing on the market for XRP during the previous week, so the price of the coin was pushed down to the level of the next support line at $0.35. For a few weeks, coin was struggling to sustain the $0.40 support line, however, negative fundamentals were the ones that made an impact for XRP to finish the week at the next support line....
Ether had another bad week, outperforming BTC for one more time. It could be noted that it is an interesting development, considering that Ethereum network has a significant place in development of many applications for DeFi`s and NFT`s, but ETH`s price within the last month, is just not following that potential. Following the theory of efficient markets, we just...
Within an environment of peaking oil and food prices with disturbed supply chains, keeping inflation under control is quite a challenging task for FED. Tightening monetary policy during this year still has not provided expected results, as per May CPI results, so further measures are to be expected in terms of additional rate hike by 50 bps on the next FOMC...
Last week in the news Inflation in the U.S. hit new records in the last 40 years, reaching 8.6% in May, as published on Friday. The US equity markets closed lower after the results, as well as the crypto market. Bitcoin is finishing the week below $30K support, while Ether is testing a $1.520 support line. Inflation figures and monetary policies were in the...
It was an interesting week for LINK. Although trading volumes had significantly increased, still LINK was holding strongly to the sideway. Price was modestly pushed from level of $6.2 up to $7.7, ending the week around $7.3. It seems like LINK is trying hard to remain at current levels. Long term resistance line at $8 has not been tested during the week. During...
Finally one good week for ADA, after the last two months of struggling with the down trend. Although it looked like that coin managed to start a reversal, still a road toward an overbought market continues to be on hold. Regardless of indicators, ADA managed to recover some of the previous losses, adding $3B to its market cap and moving the price from $0.45 up to...
BNB started the previous week with another push of price to the level of $330, however, another week in a row the coin did not manage to break this level on a road to the resistance line at $350. Weakness of the market for such a move has been caused by negative signals from the FED. Coin finished the week testing support line at $300. At the same time daily...
XRP continued its sideway trading during the week, still holding around $0.4 support line. Although this might look like positive news, on the second look, the question emerges for how long can $0.4 support withstand the selling orders pressure? During the week XRP tried to push the price to the upside, but it managed to reach only level of $0.43 on a short...
Bad period for ETH continues for the third week in a row. Resistance line at $1.950 has been tested during the week, when the coin reached the $2K psychological line, however, there has not been market strength to push the price above $2K, so the coin returned to the levels from the beginning of the week. ETH is finishing the week around $1.780 and testing the...
Inflation continues to be a major preoccupation of investors on financial markets. Latest signals from FED are not pointing that peak is near, which puts investors in a position to hold while positioning waits for the right signal from FED. In this sense, Friday would be a day to watch as the US inflation rate will be posted. Bitcoin started the previous week...
Last week in the news Markets continue side trading in expectation of new inflation figures during the following week. At the same time FED officials said that inflation is still not at its peak level, which implies possible further FED's rate hikes. Bitcoin was testing $30K but ended the week below this level. Ether is still below psychological $2K. Latest...
During the previous week LINK was clearly traded sideways. Price of the coin was moving modestly toward level of $7.6, however, during Friday`s trading price reverted again to the downside, ending the week around $6.5 level. Price recovery, after reaching a clear oversold market, continues to be on hold, as there is still ongoing selling pressure for this coin,...