Latest Crypto News - Polygon (MATIC) News, Solana News(SOL) , Ethereum News (ETH)

Latest Crypto News - Polygon (MATIC) News, Solana News(SOL) , Ethereum News (ETH)
Hey there, my friend! Let's dive into the fascinating world of cryptocurrency and take a closer look at the recent market movements. So, here's what's been happening.

After a rather extended bearish phase, the price of Ethereum finally found some solid support. This notable support region includes the 200-day moving average and the lower boundary of the flag pattern. It's like a safety net that prevents the price from dropping further. And guess what? This zone is also aligned with the static support level of $1.6K, indicating a significant amount of buying pressure.

Now, this buying pressure has triggered a bullish rally. It's like a wave of positive energy that's pushing the price upwards. However, as the rally progressed, the momentum started to weaken when it reached the previous minor swing on the daily chart. As a result, we saw a decrease in volatility, and the candles on the chart became really tiny. It's like the market took a breather after the initial excitement.

But fear not! If the bullish rally keeps going, Ethereum's next target will be the 100-day moving average and the upper trendline of the flag pattern, which is sitting at $1834. It's like reaching for the stars, my friend!

Now, let's shift our focus to Solana. On the daily timeframe, the Solana market has been experiencing a bearish trend since May 8th. Even though there were some upward moves in early June, the overall outlook on higher timeframes remained bearish. It's like the market was trying to tease us with a potential uptrend, only to swiftly reverse into a bearish mode on the H4 chart, starting from around $20.3.

As of now, the price is stuck below the 50% Fibonacci retracement level, and the trading volume is quite low. It seems like market participants are sitting on the sidelines, waiting for a clear direction to emerge. The RSI, which measures momentum, indicates some upward momentum for SOL, but the On-Balance Volume (OBV) hasn't been able to break above a significant resistance level.

That resistance level has been in place since May and had previously acted as support. So, if SOL manages to break above that level, it could be one of the first strong signs of an uptrend on the 4-hour chart. But until that happens, traders might lean more towards a bearish bias.

Now, let's talk about a potentially risky shorting opportunity for SOL bears. The price at the $16.8 region, highlighted by the white box, coincides with the 61.8% retracement level at $16.86. This level or the imbalance itself could present a chance for shorting SOL, but it's important to note that it comes with its fair share of risk. The target for the shorts could be the low at $12.8. Just remember, my friend, trading always involves some level of risk, so proceed with caution!

Shifting gears a bit, let's talk about institutional investors and their recent moves. It seems like they decided to sell off some Bitcoin (BTC), Ethereum (ETH), multi-asset investment vehicles, and Tron (TRX) recently. The amounts sold were around $0.5 million, $5 million, $1.2 million, and $0.4 million, respectively. It's like they were adjusting their portfolios and taking some profits off the table.

But here's an interesting twist. According to CoinShares, the recent crashes in altcoins actually prompted these institutions to invest in XRP, Cardano (ADA), and Polygon (MATIC). It's like they saw an opportunity amidst the chaos and decided to jump in. Inflows of approximately $2.4 million were recorded, with XRP, Cardano, and Polygon being the main focus. They received inflows of around $1 million, $0.6 million, and $0.2 million, respectively. It's like a strategic move by these institutions to capitalize on the market dynamics.

And that's the latest in the world of cryptocurrency, my friend! Remember, these market movements can be thrilling, but it's important to stay informed and make informed decisions. Happy trading!

Видео Latest Crypto News - Polygon (MATIC) News, Solana News(SOL) , Ethereum News (ETH) канала COIN INVEST