August's Market: Volatile But With Plenty of Ups and Downs
Although August's monthly candle closed below the opening price, it was a month filled with market volatility. The bulls dominated the market until the middle of the month, when prices reached a high of $2031. At that point, the bears took control [...]
It was a volatile month for the markets, with the bulls gaining ground early on and pushing the price up to $2031. However, the bears took over in the middle of the month and pushed the price down to $1420.
The long-awaited Merge is finally expected to take place in September, and everyone is eagerly awaiting to see how it will unfold. This is a momentous occasion that has the potential to change the landscape of the game forever, so all eyes are glued to September to see what will happen.
Technical analysis is a vital tool for traders and investors.
The future of cryptocurrency is bright, and I believe that Bitcoin will continue to be a major player in the space. With more and more people becoming interested in Bitcoin and other cryptocurrencies, I believe that the price of Bitcoin will continue to rise. I also believe that new applications and uses for Bitcoin will be developed
The Daily Chart: Your One-Stop Shop for All the Day's News
It looks like buyers are still in control of the market, despite the recent bearishness. Ethereum has managed to reclaim the 100-day moving average line and clear the descending line resistance, which is a positive sign. However, the bearish structure is still intact since Ethereum has failed to form a higher low and higher high.
It is important to watch the resistance zone in the range of $1720-$1750 (in red). A break and close above this level would confirm the trend reversal. If that plays out, a rally towards $2000 becomes more probable. On the other hand, the support at $1,420 is expected to prevent considerable declines towards the downside.
It is important to monitor highs and lows carefully in order to determine the future direction. Breaking one of these two levels would have a significant impact.
The key support levels for gold are currently at $1420 and $1300, while the key resistance levels are at $1720 and $2000. Gold prices have been volatile in recent months, but seem to be stabilizing around the $1400-$1500
The moving averages for the day are as follows: MA20 is at $1653, MA50 is at $1640, MA100 is at $1505, and MA200 is at $2140.
The ETH/BTC Chart: A Must-Read for Crypto Investors
It's been a tough few weeks for Bitcoin, as the cryptocurrency has been struggling against the descending resistance line. However, the bulls have managed to defend the horizontal support at 0.073 BTC, and have even pushed the price up by 9%. With any luck, this trend will continue and Bitcoin will be able to break through the resistance line.
The recent bullish leg seems to have the necessary strength to retest the horizontal resistance at 0.082 BTC. It is important to monitor ETH's performance as the Merge closes in.
The cryptocurrency market is currently in a state of flux, with prices swinging up and down on a daily basis. However, there are some key support and resistance levels that traders are watching closely. On the support side, the 0.073 and 0.065 BTC
On-chain Analysis: The Future of Bitcoin
The Transaction Count (SMA 7) is a technical indicator that measures the number of transactions in a given period of time. This indicator can be used to identify market trends and
In order to ensure that businesses are able to run smoothly and efficiently, it is important to keep track of the total number of successfully executed transactions. This information can help businesses to assess their performance and make necessary improvements. By tracking this data, businesses
It is clear that on-chain activity is not currently supporting the positive price action seen in the market. This is a cause for concern and could indicate that the recent rally is not sustainable. If activity does not pick up soon, we could see prices begin to fall back down.
The July uptrend in prices was accompanied by increased activity on the network, which suggests that there may be some cause for concern. This divergence between price and activity could be interpreted as a sign that something is amiss.
It is evident that ETH needs to break the $1,200 level in order to attempt a shot at $2,000 again. The cryptocurrency has been stuck below this level for a while now, despite multiple attempts to break out. However, the recent surge in Bitcoin's price might be just the boost Ethereum needs to finally break out.