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Shiba Inu [SHIBA] Pushes Its Price Boundaries As Token Continues Green Charge

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After a week of multiple positive gains, the cryptocurrency market hit a price flux forcing investors to watch the trail. The altcoin ecosystem was inspired by Bitcoin’s run-up above the $50k mark with capital coming into the market. The meme-inspired Shiba Inu [SHIB] pushed new boundaries for itself as it climbed on both the daily and weekly timeframes.

At the time of writing, SHIB was trading for $0.000029 with a total market cap of $11.75 billion. The increased capital pump elevated the cryptocurrency into the top 20 cryptocurrency clubs. As more users bought into the world of Shiba Inu, the daily trading volume also shot up to $4.6 billion. As active players shilled the cryptocurrency, it became a major talking point on social media.

Shiba Inu 1 hour:

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Shiba Inu [SHIBA] Pushes Its Price Boundaries As Token Continues Green Charge 3

After a successful week that propelled Shiba on the charts, the indicators all leaned towards the bull. Shiba’s immediate support rose to $0.000026 while new users constantly pushed for higher prices.

Relative Strength Index: Shiba’s RSI stayed near the overbought zone, a sign of the active ecosystem. The indicator showed that the number of users HODLing SHIB was more than the ones selling it.

Chaikin Money Flow: Staying bullish as well, the CMF rose strongly against the zero line. Since the bullish sentiment is strong, the graph is expected to rise some more towards the upper boundaries.

Parabolic SAR: All the markers for the past 48 hours stayed below the price candles, showing strong bullish momentum. Shiba Inu holders would want the consecutive green candle formation to go on for extended timeframes.

Shiba Inu 1 day:

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Shiba Inu [SHIBA] Pushes Its Price Boundaries As Token Continues Green Charge 4

Shiba’s long-term performance was just growing, helped along by strong October tides. Long-term support increased to $0.0000069 after the cryptocurrency’s most active month since inception.

Chaikin Money Flow: In the long run, Shiba moved parallel to the zero line. A deeper dive further pointed to the increasing interest from the larger cryptocurrency ecosystem.

Parabolic SAR: The markers from the last month have all stayed below the price candles as the momentum became bullish.

Relative Strength Index: The RSI in the long term showed similar characteristics to that of the CMF. This further meant that the buying pressure was a strong contributor to higher prices.

XRP braves bear storm as major cryptos see their weekly gains erode

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The digital asset industry’s rollercoaster mid-week movement aligned with the predictions of a lot of investors after their price capitulation calls. Almost all the cryptocurrencies on the chart suffered bear attacks that resulted in the formation of new immediate supports. Ripple’s XRP was one of the assets undergoing a price shift as weekly gains enabled it to stay afloat.

XRP’s previous 7-day performance was a key factor in establishing the cryptocurrencies’ dominance in the face of the bear. Although the sixth-largest cryptocurrency recorded a 7 percent hourly dip, its market cap held above the $50 billion marks at $51.355 billion. The cryptocurrency was trading for $1.11 as the daily trading volume fell to $7.52 billion. One positive for XRP fans was the fact that the fully diluted market cap had gone up by 7 percent in the same time period.

XRP 1 hour:

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XRP braves bear storm as major cryptos see their weekly gains erode 7

In the short term, XRP’s selling pressure increased ever sop slightly. The aforementioned indicators all sided with the bear as the cryptocurrency’s price settled since its climb on the 11th. According to the Bollinger bands, XRP was in for a bearish downturn that may see its support slip to just below $1. The fall can be broken once more capital enters the market.

XRP’s RSI fell to its lowest since the start of this month. Regulatory tussles and price capitulations may be the main reason for the slump in the XRP buying scene. Only the Chaikin Money Flow lent a positive spin to the price action after climbing above the zero line today. This meant that capital coming into the market was more than the outflow.

XRP 1 day:

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XRP braves bear storm as major cryptos see their weekly gains erode 8

XRP’s positive price action since June seems to have been cut short this week. With the Bollinger bands opening its maw, fans of the cryptocurrency kept their fingers crossed for a bullish breakout. Even though XRP escaped the bear trap formed in April, it needs to remain wary of new support breaks.

After having stayed above the overbought threshold for a good part of a week, the indicator fell back into the RSI zone. This was a positive sign for XRP as it meant more users were HODLing their tokens rather than selling them. XRp’s CMF skirted on the zero line as the indicator dipped hard for the first time since July 20. Ripple’s new announcements could lend a hand to XRP and boost its stock in the crypto market, thereby bringing in more capital to the XRP ecosystem.

Ethereum Slipstreams On Bitcoin’s Gains as Bull Fever Grips Market

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In the last week, Ethereum has attempted to follow Bitcoin’s exuberance on the price charts. Although the value of the largest altcoin had fallen in the hourly spectrum, Ethereum held its fort on the daily charts. 

At press time, Ethereum was trading for $3037, with a total market cap of $353.67 billion. An hourly fall of 3.2 percent had barely affected the increased trading volume of $28.43 billion. The 7-day hike of 17.45 percent was one of the biggest in the top 10 cryptocurrency club, only bettered by Uniswap and Dogecoin. 

Ethereum 1 hour:

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Ethereum Slipstreams On Bitcoin's Gains as Bull Fever Grips Market 11

Since crossing the $2000 mark, Ethereum has only grown in leaps and bounds. The immediate support maintained just below $2500 with the price action only pushing it upwards. 

Ethereum’s Relative Strength Index had shot up indicating a shift in buying momentum. The graph had made a u-turn ever since it fell into the oversold zone. Even the Parabolic SAR sided with the bull with the markers staying below the price candles. 

The hourly CMF stayed below the zero line despite its sudden hike on June 9. Once the capital increases, Ethereum users can expect an upward tick on the CMF.

Ethereum 1 day:

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Ethereum Slipstreams On Bitcoin's Gains as Bull Fever Grips Market 12

The second half of July spurred a sudden green run as Ethereum formed 13 consecutive green candles for the first time in 2021. Long-term support maintained near the $1700 mark which was created in June. 

PSAR markers have been below the price candles for extended periods of time. The formation of two consecutive red candles may indicate a price downturn. 

Both the RSI and the CMF were completely bullish with significant hikes in the past couple of weeks. The RSI was teetering on the threshold of the overbought zone while the Chaikin Money Flow indicator hit the 0.39 mark for the first time since May. 

XRP Price Action Changes Direction As Support Suffers

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Cryptocurrency price fluctuations have dominated the ecosystem in the last few days as traders hedged on shorting or longing for their positions. XRP enjoyed a decent July with proponents expecting a rise after the support settles. The cryptocurrency continued to trade above 70 cents with a market cap above $30 billion.

XRP 1 hour:

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XRP Price Action Changes Direction As Support Suffers 15

XRP’s hourly chart showed a step-wise climb for the cryptocurrency shorted by the latest bear run. Since the price hike on July 28, XRP’s immediate support had lifted slowly but surely only to be wrecked by the bear. As markets opened on Tuesday, Bitcoin’s price action continued to stay bearish. The lower Bollinger band diverged from its parallel movement indicating a dip in prices.

The Relative Strength Index tried moving away from the oversold zone after crashing towards it yesterday. This slight spike could be attributed to more people buying into the XRP market. The Parabolic SAR markers also sided with the bear with the markers staying below the price candles.

XRP 1 day:

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XRP Price Action Changes Direction As Support Suffers 16

Long-term readings for Ripple’s cryptocurrency looked better than the hourly charts as a majority of the indicators blinked green. The Parabolic SAR for the daily charts stayed under the markers pointing to a clear shift in momentum.

Although the Relative Strength Index fell over the past week, it was still closer to the overbought threshold than it has been in over 90 days. Once users HODL their XRP, the buying pressure will only increase. In the long-term scenario, the Bollinger bands diverged strongly from one another. After displaying 5 consecutive green candles, XRP users were looking forward with bated breath for the next run.

XRP Rules the Roost as Double-Digit Gains Elevates Cryptocurrency Market

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XRP’s price action over the past few weeks has been similar to the rest of the market: bearish traps followed by slight bullish signals. As July comes to a close, however, the digital asset industry has gained a strong foothold in the green zone. XRP’s surged in the last seven days to post a 7-day gain of 31.2 percent. At press time, XRP was trading for $0.72 with a total market cap of $33.172 billion. The weekly gain elevated the daily trading volume to $5.113 billion after an increase in buying pressure. 

XRP also boomed in the hourly spectrum after posting a rise of 17 percent. This increase was complemented by a bullish sentiment shared by the rest of the cryptocurrency market. Technical analysis of the cryptocurrency showed a marked increase in performance and coin peripherals. The three indicators in question: RSI, CMF, and PSAR, sided with the bull in the short term and the graph rocketed up. 

XRP 1 hour:

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XRP Rules the Roost as Double-Digit Gains Elevates Cryptocurrency Market 19

XRP’s new resistance of $0.73 was a cause of celebration for the XRP cadre after having suffered in bearish territories earlier.

The Parabolic SAR stayed below the markers as the pressure caused the price candles to stay in the green. 
According to the RSI, the crypto-asset was well and truly in the overbought zone. This meant that more users were amassing XRP in the portfolio rather than selling it. 
Even though the Chaikin Money Flow indicator, was in the green, it showed an affinity towards the zero line

XRP 1 day:

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XRP Rules the Roost as Double-Digit Gains Elevates Cryptocurrency Market 20

It was good news all the way for the token in the long term as all the corresponding indicators leaned towards the bull. As the immediate supports rectified themselves, it was apparent to see why the cryptocurrency was performing well on the charts. 

The CMF in the long term had shot up to settle near the overbought zone. An increase in buy-in pressure proved to be the kicker here. 

Although its RSI had a difficult June, it rose sharply in the past few days to stay on course for an overbought zone breach. 

The PSAR helped the coin along its bullish path as the markers gave the cryptocurrency a solid foundation. This was primarily due to an increase in conversations around cryptocurrencies and their use cases. 

BNB tries to stay in the green as sell-off pressure increases

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Binance Coin [BNB]’s performance this year propelled it to the top of the charts with the cryptocurrency now sitting pretty at the number four position. Investors have been reassured by Binance CEO Changpeng Zhao about the coin’s use case and what it can do for the digital asset ecosystem in the future.

BNB’s price action over the past week was indicative of the rest of the market: price corrections followed by the bear’s pull once again. At press time, Binance Coin was trading for $292 with a total market cap of $49.28 billion. The cryptocurrency still had some ways to go before catching up to its nearest competitor, Tether [USDT].

In the last hour, BNB climbed by 3.5 percent to elevate its daily trading volume to $1.86 billion. Technical analysis of the cryptocurrency showed marked changes in price behavior since the start of July.

BNB 1 hour:

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BNB tries to stay in the green as sell-off pressure increases 23

BNB’s new immediate support was created on the 20th when the cryptocurrency fell to $255.4. The Relative Strength Index [RSI] rallied to the overbought zone after crashing below the oversold zone earlier. This meant that there was an increased BNB buying pressure.

According to BNB’s Chaikin Money Flow indicator, the capital influx was almost equivalent to the money leaving the market. The Parabolic SAR sided with the bull as the markers stayed below the price candles.

BNB 1 day:

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BNB tries to stay in the green as sell-off pressure increases 24

In the long term, BNB’s price had settled into a slow price action after the creation of the new support. A hold near the $300 mark was considered safe for the cryptocurrency as long as buying pressure increases.

Daily charts painted the picture of a cryptocurrency struggling to get out of the bear’s thumb. BNB has not been able to climb back to the overbought zone levels since the start of May. The CMF had fallen below the zero line for the first time in the month and the sharp incline indicated a massive sell-off.

Even the Parabolic SAR pointed to a bearish takeover as the markers continued to stay atop the candles.

Solana [SOL]Price Support Crumbles Under Bear Pressure; Market Sees Red

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The cryptocurrency market has attained a red coat over the past week with major coins sliding rapidly on the charts. Solana [SOL] was one of the biggest losers of the week as a 26 percent drop ripped through its market cap. Polygon held the top spot in the bear’s eyes as it fell by 35 percent in the past week.

Experts believe that the bear market would become an ideal launchpad for new users to buy the dip and increase their portfolio. At press time, Solana was trading for $22.62 with a total market cap of $6.1 billion. After a daily dip of 11 percent, Solana’s trading volume fell to $444.9 million.

Solana 1 hour:

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Solana [SOL]Price Support Crumbles Under Bear Pressure; Market Sees Red 27

Solana’s hourly dips became apparent after the 14th when the price tumbled across the board. The immediate support is constantly changing with the last known support at $22.24 and the resistance ~$32 range. Upper and lower Bollinger bands began diverging from one another as the red price candles increased in density.

The Relative Strength Index crashed below the lower index on Tuesday. According to the charts, this was Solana’s biggest dip in July which may have an impact on investor sentiments. Solana’s Chaikin Money Flow indicator had turned sharply to the bottom of the graph. This means that the capital leaving the market was more than the influx.

Solana 1 day:

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Solana [SOL]Price Support Crumbles Under Bear Pressure; Market Sees Red 28

On the daily charts, Solana had a marked downshift as the candles continued to crumble under bear pressure. Even the Bollinger bands sided with the bear as the bands diverged sharply from one another. The immediate support remained at $15.2 as the histogram became populated with a mix of greens and reds.

The RSI hit the oversold threshold which means the selling pressure had increased multifold in the last couple of days. Even the RSI replicated the CMF’s price action as the capital coming into the market decreased considerably.

Uniswap looks To Bounce Back As Weekly Gains Continues to Bouy Coin

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The last few days have been a rumble in the cryptocurrency world with prices shuttling between bullish and bearish zones. Altcoins such as Uniswap performed admirably on the charts with weekly gains surpassing bigwigs such as Bitcoin and Ethereum. Uniswap’s double-digit climb was enough to hold its 10th place on the charts.

At press time, Uniswap was trading for $20.4 with a total market cap of $12.03 billion. The cryptocurrency’s 12.6 percent weekly hike elevated its daily trading volume to $466.94 million. ZebPay Trade Desk also added its two cents on the market by saying:

“Bitcoin (BTC) set foot in familiar territory this week, with a weekend of solid gains that ended in a drawdown. The setting is complex and the ongoing miner migration and its implications on prices have confused many, leading to a fair deal of uncertainty.”

Uniswap 1 hour:

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Uniswap looks To Bounce Back As Weekly Gains Continues to Bouy Coin 31

Uniswap’s saved itself from breaking immediate support at $14.5. The last few hours have been heavy hitters for the bear as shown by the price action. The $20 cutoff may become a new support if the bearish pressure does not continue to mound.

Parabolic SAR sided with the bear as the markers stayed above the price candles. This increased pressure may be due to selloffs as registered on the histogram. The Relative Strength Index climbed back into the charts as more users purchased Uniswap tokens. According to the Chaikin Money Flow indicator, the capital entering the Uniswap market had plummeted over the past week.

Uniswap 1 day:

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Uniswap looks To Bounce Back As Weekly Gains Continues to Bouy Coin 32

In the long term, Uniswap had gained compared to its performance in mid-June. The immediate support was similar to the hourly chart after the last break on June 18. Relative Strength Index on the daily charts had fallen to the cutoff line as users held off on purchasing.

A reprieve may be in sight as the graph plateaued on Thursday. The CMF moved parallel to the zero line but continued to stay above it. An additional capital influx to avoid the support break would lift the CMF too. Uniswap’s long-term PSAR action was bullish as the markers stayed below the candles.

Polkadot Surges on Charts to Become Biggest Daily Gainer, Beats Binance Coin

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Polkadot has had a remarkable 2021 with the cryptocurrency climbing into the top 10 club and beating established assets on the charts. Despite the recent bear runs, Polkadot has remained a strong contender for a stable asset holding a large market cap.

An analysis of the previous 24-hours showed Polkadot’s gains as a solid rise spread over an even timeframe. At press time, DOT was trading for $16.8 with a total market cap of $16.12 billion. DOT also enjoyed an 8.3 percent gain on Wednesday, elevating the daily trading volume to $1.12 billion.

Polkadot 1 hour:

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The cryptocurrency continued to hold its current support of $14.7 as the price action fell into a bullish groove. According to the MACD indicator, the cryptocurrency was heading towards bullish territory that may be interspersed with dips. The histogram was also overwhelmingly positive in the bullish spectrum.

Polkadot’s RSI climbed sharply towards the overbought threshold as more people bought into the ecosystem. This was following, DOT’s meteoric rise in July. The CMF plateaued parallel to the zero line showing a dip in internal capital.

Polkadot 1 day:

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Polkadot Surges on Charts to Become Biggest Daily Gainer, Beats Binance Coin 35

Polkadot’s daily climb was slow and steady compared to the hourly charts. The RSI had turned towards the midline indicating a steady climb in buying pressure.

After the last support breach, Polkadot has been more careful in treading the bearish line. The CMF indicator was an example of that as the graph took on a k-shape and shot towards the zero line. Polkadot’s MACD indicator converged at the start of the month after which the divergence has been slow.

ETH, ADA, and EOS – Biggest Losers in the Past 24-Hrs

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On 1st May, the crypto market flipped the switch. Bitcoin [BTC] that was traded in the $7.7k range in April, is now trading in the range of $8.7k. The king of cryptocurrencies even touched the $9k range but couldn’t break the $10k resistance on 1st May. 

With the Bitcoin weekend bull, altcoins showed a green trail. At the time of press, altcoins such as XRP [XRP], Stellar [XLM], and Ethereum Classic [ETC] show a pump of 8.40%, 11.48%, and 12.73% respectively. Nevertheless, coins such as Ethereum, Cardano, and EOS have seen a fall of 6.33%, 7.55%, and 6.92% – making them the biggest losers in the top 15 in 24 hours. 

Ethereum 

In the past couple of days, Ethereum has been above $225 reaching $25 billion [market cap] the coin in less than three days lost $3 billion as it slipped back to low $200s showing signs of leaving the $200 support level. 

 

It looks like Ethereum has managed to recover from its intraday lows but still hangs at the edge with low uptrend momentum.  

Additionally, technical analysis of ETHUSD indicates a correction that will help to enter for long.

Professional traders comment:-

“The correction that began today will cool the market and provide the best levels of medium-term entry over the air. When MA25 goes above MA99, an uptrend will be confirmed and the BTBT strategy will open a long position with a leverage of 1: 3. Now, according to our BTBT trading strategy, there are no open positions.” – Source

“Some overhead resistance on short timeframes, but I expect a small move for +5% gain in less than 24 hours. It could go higher, but I expect it to at least stop to think at these resistance levels. A breakdown below the local low will invalidate this setup. Let’s see what happens.” – Source

Cardano [ADA]

The lack of momentum has bolstered the resistance of breaking $0.055 for ADA. The coin experienced a bearish trendline yesterday and follows the same trend today. With a major support level being $0.045, ADA is currently being traded at $0.47. 

MACD shows a bearish divergence since the signal line crosses over the MACD line indicating a lack of trading stability. The RSI stands below 45 but above 30; unless there’s an immediate uptrend the coin will experience heavy selling pressure.

#ADA

Cardano has had an eventful month with Charles Hoskinson stepping closer to the community and Shelly’s first block being produced – it seems like the technology will stabilize the sentiments around the coin despite the bears. 

EOS

EOS has slipped from being in the top 5, hardly making it into the top 10 on CMC in the past weeks. 

Technicals indicate that EOS is in a correction after its jump from $2.75 to $3.10. Irrespective of the buyers trying to break above the resistance the price dropped beneath the 100-days EMA.

#EOS

Nevertheless, despite the on-going downtrend the coin has managed to stay above its support level $2.70 and is currently trading at $2.75. 

RSI stands at 52.06 and shows a possible outcome of a bullish divergence. 

Disclaimer note: This article is not a piece of investment advice.