The crypto market appears to be in a holding pattern this week, with Bitcoin trading within the $65,000-$67,000 range ahead of the highly anticipated halving event later this month.
Coinpedia highlights several key technical factors contributing to the bullish momentum. Firstly, the formation of a bullish flag pattern, characterized by a range breakout and the presence of massive engulfing candles, signifies a sustained upward trajectory. Additionally, BCH has already surpassed the 23.60% and 38.20% Fibonacci levels, with its sights now set on the 50% level at $762.
AlanSantana’s study of historical data from other altcoins that have already grown 2-3X beyond their 2023 lows reveals a common pattern. These altcoins, without exception, experienced corrections that brought their prices down to test the 0.618-0.786 Fibonacci retracement range for the entire move since their respective lows.
Reinforcing the bearish outlook, the weekly chart for ADA is currently producing a break below the EMA 10 , accompanied by a strong bearish candle. Additionally, the Relative Strength Index has turned red, further supporting the bearish narrative. Additionally, NuggetRush features an NFT marketplace where investors can trade various in-game assets. The project integrates GameFi mechanics and active meme culture, positioning it among promising crypto projects offering an immersive gaming experience with tangible income opportunities. Players can collaborate in guilds to earn shared rewards, and the project is linked with physical gold merchants for the delivery of RUSHGEM rewards.
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Source: CryptoAmb - 🏆 22. / 68 Read more »
Source: CryptoAmb - 🏆 22. / 68 Read more »