Terra (LUNA) at risk of 50% drop if bearish head-and-shoulders pattern plays out
LUNA price is at risk of further downside, but analysts point to a possible rebound as the altcoin tests a reliable, multi-month moving average as support.
LUNA price is at risk of further downside, but analysts point to a possible rebound as the altcoin tests a reliable, multi-month moving average as support.
The funds will track Fidelity proprietary Crypto Industry and Digital Payments and Metaverse indices.
Yes, I deleted my chart apps. Even my exchange apps. I realised its not helping me in any way. I dca every month in some specific main coins. Im a long term holder and don't worry about selling. Actually I shouldn't be bothered about short term price fluctuations, but since I have all these apps…
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Players took offense to the suggestion that gamers may not yet fully understand the benefits of NFTs.
The current Bitcoin volatility Index values suggest that a short squeeze may be near, if past pattern continues to hold. Past Bitcoin Volatility Index Pattern Suggests A Short Squeeze May Happen Here As explained by an analyst in a CryptoQuant post, the BTC volatility index has now reached values where a short squeeze has happened in the past. The “volatility index” is an indicator that shows how much the price of Bitcoin has fluctuated in a day compared to its historical average. When the value of this metric rises, it means the crypto’s price has recently seen higher volatility as its price has deviated more from its average. On the other hand, low values suggest Bitcoin has been relatively stable lately as the price hasn’t seen any large movements. Volatility is often high following a liquidation event. These “liquidation squeezes” happen when the market is overleveraged, and so any big swings in the price lead to mass liquidations of futures positions. Related Reading | Bitcoin Bearish Signal: Binance Observes Massive Inflow Of 10k BTC The price usually crashes during a long liquidation squeeze due to a cascading effect by these liquidations. On the contrary, the price may instead jump up during a short squeeze. Now, here is a chart that shows the trend in the Bitcoin volatility over the past six months: The index’s value seems to have risen and subsequently fallen recently | Source: CryptoQuant As you can see in the above graph, the indicator’s value shot up recently following a long squeeze, but has now come back down. At the moment, the Bitcoin liquidation index seems to have values of around 19.12. In the chart, the quant has highlighted past portions that are relevant to this current trend. It looks like shortly following such a formation, the price has made a strong move up with a short squeeze. Related Reading | ‘Bitcoin Rush’: Small-Time Solo Miners Strike Gold With Full BTC Blocks The analyst thus thinks that the coin may follow this pattern now as well, and its price may go back to $46k to $47k. However, the quant believes that such a move will only be short term relief, and Bitcoin will resume the downtrend soon after. BTC Price At the time of writing, Bitcoin’s price floats around $36.2k, down 5% in the last seven days. Over the past month, the crypto has lost 28% in value. The below chart shows the trend in the price of BTC over the last five days. BTC’s price seems to have moved sideways in the last few days | Source: BTCUSD on TradingView A few days back, the price of Bitcoin jumped back to $38k, but the recovery didn’t last long and the crypto fell down to $36k. Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com
Terra (Luna) was one of this week’s biggest crypto losers, falling by as much as 20% during Friday’s session. Declines in terra came as cosmos (ATOM) also had a double-digit decline. Biggest gainers Although crypto markets were mainly trading in the red, symbol (XYM) was one of the rare exceptions to climb higher today. XYM […]
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When you try to buy a jpeg or lose money in DeFi and that “friendly” Metamask dialogue pops up asking you to pay $100+ in gas, the Ethereum network is treating you and your hard earned money with disrespect. I get it, gas helps the blockchain validate transactions, and yes, whoever is running the nodes…
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