. Daily Crypto Analysis - Bitcoin Drops, Ethereum Whales Buy.

Daily Crypto Analysis – Bitcoin Drops, Ethereum Whales Buy.

Daily Crypto Analysis – Bitcoin Drops, Ethereum Whales Buy.

25 Jun 2024

Introduction

Bitcoin fell to $61K amid regulatory fears and inflation concerns. The decline was driven by U.S. regulatory actions, German government sales, and overall market risk aversion. Meanwhile, Ethereum whales are accumulating ETH, Ripple’s XRP sees a trading volume surge, and Dogecoin shows potential rebound signals despite market turbulence.

Markets In Focus Today – BITCOIN

Bitcoin price today: down to $61k amid regulatory jitters, inflation angst.

Bitcoin price fell on Tuesday, extending recent declines as a mix of regulatory fears, particularly over U.S. action and German government sales, coupled with broader risk aversion, kept crypto prices under pressure. The world’s largest cryptocurrency fell 2.4% in the past 24 hours .Selling in crypto currencies was driven by a storm of different regulatory factors, which, coupled with angst over U.S. interest rates, drove broader prices lower. Crypto investment products were also seen logging two straight weeks of heavy capital outflows. Rising fears of high rates had battered crypto markets through the past week, and showed little signs of clearing. Strength in the dollar also diminished crypto’s appeal.

Technical   Overview With Chart :

Moving Averages :

Exponential :

  • MA 10 : 63729.5331 | Negative Crossover | Bearish
  • MA 20 : 65215.5357 | Negative Crossover | Bearish
  • MA 50 : 65952.9286 | Negative Crossover | Bearish

Simple :

  • MA 10 : 64138.0610 | Negative Crossover | Bearish
  • MA 20 : 66254.0245 | Negative Crossover | Bearish
  • MA 50 : 66422.3186 | Negative Crossover | Bearish

RSI (Relative Strength Index) : 30.4756 | Sell Zone | Bearish

Stochastic   Oscillator : 13.5116 | Sell Zone | Negative

Resistance   And Support Levels :

  • R1 : 70744.7096 R2 : 74221.1171
  • S1 : 59490.5771 S2 : 56014.1696

Overall Sentiment : Bearish Market Direction : Sell

Trade Suggestion : Limit Sell : 61764.44 | Take Profit : 58300.05 | Stop Loss : 64340.52

ETHEREUM

Ethereum whales increase their holdings following recent price decline.

Ethereum whales and major players are accumulating ETH despite recent decline.Grayscale’s mini Ethereum trust could send shockwaves across the US crypto ETF market.Ethereum could resume month-long movement in key range.Ethereum’s price (ETH) is down nearly 6% on Monday after Mt. Gox announced it would begin repaying creditors their Bitcoin and Bitcoin Cash. However, ETH whales have pounced on the price decline as an opportunity to purchase ETH before the arrival of spot Ethereum ETFs. Ethereum liquidations crossed $72 million, with long liquidations reaching $63 million and shorts at about $9 million.

Technical   Overview With Chart :

Moving Averages :

Exponential :

  • MA 10 : 3466.7563 | Negative Crossover | Bearish
  • MA 20 : 3519.7792 | Negative Crossover | Bearish
  • MA 50 : 3493.4329 | Negative Crossover | Bearish

Simple :

  • MA 10 : 3485.2380 | Negative Crossover | Bearish
  • MA 20 : 3548.4700 | Negative Crossover | Bearish
  • MA 50 : 3483.3878 | Negative Crossover | Bearish

RSI (Relative Strength Index) : 39.6450 | Sell Zone | Bearish

Stochastic   Oscillator : 25.0035 | Sell Zone | Neutral

Resistance   And Support Levels :

  • R1 : 3957.6476 R2 : 4230.4424
  • S1 : 3074.5324 S2 : 2801.7376

Overall Sentiment : Bearish Market Direction : Sell

Trade Suggestion : Limit Sell : 3405.93 | Take Profit : 3207.05 | Stop Loss : 3547.24

RIPPLE

Ripple (XRP) Trading Volume Soars Amid Ongoing Market Turbulence.

Ripple’s XRP has been one of the cryptocurrencies that managed to maintain relative stability during the ongoing market turbulence. In fact, for the past 24 hours, it has added 0.62% to its price and remains trapped in a relatively tight range at around $0.48. XRP Trading Volume SoarsXRP price failed to clear the $0.4820 resistance zone and started another decline like Bitcoin and Ethereum. There was a move below the $0.480 and $0.4750 levels. The price even spiked below $0.4650.However, the bulls were active near $0.4620. A low was formed at $0.4619 and the price is now recovering losses. There was an upward move above the $0.4680 and $0.4720 resistance levels. The price cleared the 50% Fib retracement level of the downward move from the $0.4885 swing high to the $0.4619 low.

Technical   Overview With Chart :

Moving Averages :

Exponential :

  • MA 10 : 0.4844 | Negative Crossover | Bearish
  • MA 20 : 0.4914 | Negative Crossover | Bearish
  • MA 50 : 0.5075 | Negative Crossover | Bearish

Simple :

  • MA 10 : 0.4873 | Negative Crossover | Bearish
  • MA 20 : 0.4898 | Negative Crossover | Bearish
  • MA 50 : 0.5084 | Negative Crossover | Bearish

RSI (Relative Strength Index) : 39.4096 | Sell Zone | Bearish

Stochastic   Oscillator : 26.9575 | Sell Zone | Negative

Resistance   And Support Levels :

  • R1 : 0.5573 R2 : 0.5790
  • S1 : 0.4867 S2 : 0.4650

Overall Sentiment : Bearish Market Direction : Sell

Trade Suggestion : Limit Sell : 0.477 | Take Profit : 0.436 | Stop Loss : 0.507

DOGECOIN

Dogecoin (DOGE) Price Rebound: On-Chain Buy Signal Emerges.

Dogecoin is offering its holders a ray of hope amid a very bleak outlook on the broader crypto market. The overall meme coin sector is currently looking more bearish compared to others. Data reveals that the total market cap of this sector has plummeted 7.5% in the last 24 hours. However, for traders looking to trade against the market, a key on-chain metric has flashed a buy signal.Although the bears seem to be in control of the market, DOGE has still managed to break the shackles, at least in one crucial metric. Per CoinGlass data, the trading volume of Dogecoin has surged 186.54% today. This surge takes the volume to a whopping total of $1.37 billion.The skyrocketing trading volume is a crucial indicator for Dogecoin’s future. It is showing us that traders have not given up on the leading meme coin. Although the DOGE price is currently presenting a bearish picture, crypto traders seem to be buying on the lows.

Technical   Overview With Chart :

Moving Averages :

Exponential :

  • MA 10 : 0.1260 | Negative Crossover | Bearish
  • MA 20 : 0.1331 | Negative Crossover | Bearish
  • MA 50 : 0.1437 | Negative Crossover | Bearish

Simple :

  • MA 10 : 0.1247 | Negative Crossover | Bearish
  • MA 20 : 0.1345 | Negative Crossover | Bearish
  • MA 50 : 0.1480 | Negative Crossover | Bearish

RSI (Relative Strength Index) : 35.0112 | Sell Zone | Bearish

Stochastic   Oscillator : 22.6790 | Sell Zone | Positive

Resistance   And Support Levels :

  • R1 : 0.1723 R2 : 0.1853
  • S1 : 0.1303 S2 : 0.1173

Overall Sentiment : Bearish Market Direction : Sell

Trade Suggestion : Limit Sell : 0.119 | Take Profit : 0.097 | Stop Loss : 0.136

Elsewhere In The Crypto Market

Bitcoin up (1.37%) at 61,079, Ethereum up (0.53%) at 3368.0, Litecoin up (1.48%) at 70.68, Solana up (3.84%) at 137.38, Dogecoin up (3.77%) at 0.123.

Key Economic Events & Data Release Today:

(CAD) Core CPI (MoM) (May) Forecast 0.2%, Previous 0.2% at 08:30. (USD) CB Consumer Confidence (Jun) Forecast 100.0, Previous 102.0 at 10:00.