Monero enters ‘overbought’ danger zone after XMR price gains 75% in two weeks

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XMR is also nearing a breakdown move led by the formation of rising wedge, a classic bearish reversal pattern. Monero (XMR) price may witness a sharp pullback by June because its 75% rally in the last two weeks has left the gauge almost “overbought.” Monero price RSI meets rising wedge Downside risks have been mounting … Read more

Avalanche nears key breakdown level that could sink AVAX price by another 65%

avalanche-nears-key-breakdown-level-that-could-sink-avax-price-by-another-65%

Strongly bearish fundamentals act as tailwind to Avalanche’s technically bearish setup. Avalanche (AVAX) gained 0.5% to reach over $31 on May 23 but AVAX price remains trapped inside a trading range that appears like a “bear pennant” structure. Avalanche could get buried technicals  Bear pennants are bearish continuation patterns, i.e., they resolve after the price … Read more

Ethereum preparing a ‘bear trap’ ahead of the Merge — ETH price to $4K next?

ethereum-preparing-a-‘bear-trap’-ahead-of-the-merge-— eth-price-to-$4k-next?

An ascending triangle setup promises major price rebound in the Ethereum price in 2022. Ethereum’s native token, Ether (ETH), continues to face downside risks in a higher interest rate environment. But one analyst believes that the token’s next selloff move could turn into a bear trap as the market factors in the possible release of … Read more

Here’s why Terra’s snowball effect could send Avalanche (AVAX) price to $15

here’s-why-terra’s-snowball-effect-could-send-avalanche-(avax)-price-to-$15

The collateral damage of Terra’s collapse could continue to impact Avalanche price, especially considering that the Luna Foundation Guard holds 1.97 million AVAX tokens. Avalanche (AVAX) has emerged as one of the worst-performing cryptocurrencies among the top-ranking tokens in the last 24 hours, partially due to fears connected to Terra (LUNA) and it’s a near-dead … Read more

$1.9T wipeout in crypto risks spilling over to stocks, bonds — stablecoin Tether in focus

$1.9t-wipeout-in-crypto-risks-spilling-over-to-stocks,-bonds-—-stablecoin-tether-in-focus

The dangers posed by stablecoins to the traditional market cannot be dismissed due to Tether’s exposure to the U.S. credit system. The cryptocurrency market has lost $1.9 trillion six months after it soared to a record high. Interestingly, these losses are bigger than those witnessed during the 2007’s subprime mortgage market crisis — around $1.3 … Read more

3 reasons why Cardano can sink further despite ADA price bouncing 58%

3-reasons-why-cardano-can-sink-further-despite-ada-price-bouncing-58%

A mix of fundamental and technical indicators suggests more pain for Cardano bulls ahead. Cardano (ADA) pared a big portion of the weekly losses incurred during this week’s crypto market rout.  ADA’s price reached an intraday high of $0.60 on May 13, a day after rebounding from its week-to-date low of $0.38 — a 58% … Read more