MATIC worth goes chilly, as Polygon monetary metric affords an fascinating twist
MATIC worth is up 47.66% since July 21, establishing one of many higher rallies within the cryptocurrency complicated over that point. The rally has positioned Polygon on the junction of the symmetrical triangle’s apex with the 50-day SMA at $1.07. The continuing consolidation is in time, not worth, because the Bollinger Bands (BB) have contracted to the tightest studying in months, suggesting that MATIC worth could also be on the cusp of a considerable transfer to the upside.
Cardano worth motion and on-chain metric collide, reveals a posh state of affairs for ADA
Cardano worth staged a rebound in July after dropping close to the 38.2% Fibonacci retracement at $0.971, marking the fifth consecutive month of a bullish reversal from the extent. Regardless of one other bullish reversal, the ADA outlook stays combined with the 2018 excessive nonetheless inflicting heavy resistance on breakout makes an attempt. Solely a each day shut above $1.498 would transition the outlook to reasonably constructive.
Bitcoin dominance on the rise as soon as once more as crypto market rallies
The rise of the BTCD index could possibly be an indication of the beginning of one other bull run as Bitcoin worth makes an attempt to carry on to $38,000. Bitcoin’s worth has been rallying in tandem with altcoins, sending mentions of the markets flipping again to a bullish supercycle for Bitcoin (BTC). The flagship cryptocurrency went by the resistance ranges of $42,000 for the primary time since Might 19, hitting a peak of $42,541 on July 31.