Mudrex

Mudrex

As we review BINANCE:ETHUSDT price action on the daily chart, a notable pattern emerges—a substantial falling wedge, traditionally indicative of a bullish reversal. This analysis comes at a critical juncture, particularly following the inflation data released on May 15th, 2024, which fuelled a general uptrend in the market. Ethereum capitalized on this momentum,...

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Axelar (AXL) registers a sharp decline of 24.24%, marking it as the top loser for the week. Currently, AXL is trading at particularly risky levels. On April 12, 2024, it reached its all-time low of $0.8820 and has since formed a double top pattern, a classic indicator of a bearish reversal. Presently, the price of AXL stands at $0.9462. Should it breach the...

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PEPE has emerged as this week's most impressive performer with a significant surge of 34.35%. The cryptocurrency successfully breached the resistance level at $0.00000997, climbing to a peak of $0.00001146. It is currently retesting this level in a one-day timeframe. Should PEPE manage to sustain a close above this threshold, further upward trends may be...

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World Coin (WLD) emerged as the standout performer of the week, registering a remarkable surge of 29.76%. In March, WLD reached its peak at $12.034 before undergoing a correction to $3.698, finding significant support at the 200-day Exponential Moving Average (EMA). Presently, WLD is exhibiting a double bottom pattern on the daily timeframe, indicating bullish...

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TAO is currently in a significant downtrend, emerging as the biggest loser of the previous week with a substantial loss of 25.50%. This downtrend persists as TAO continues to establish new lower lows and lower highs in parallel. The support level at $430 has been breached by TAO, and the bearish momentum has even broken the long-term support at $400, which has...

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Bonk surged by an impressive 16.13%, outperforming amidst a predominantly bearish market. It reached a peak of $0.00002967 before undergoing a correction. Currently, Bonk is exhibiting a descending triangle pattern, characterized by lower highs and lower lows. It now hovers around the demand zone near the $0.00002285 mark, testing this crucial support level. A...

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In the past week, Akash Network has surged to the forefront of the market, claiming the title of the top gainer with an impressive 77.41% increase. After a notable correction, AKT experienced a sharp decline, finding support within the demand zone spanning from $2.3471 to $3.3737. Subsequently, a bullish accumulation ensued, propelling AKT to achieve a remarkable...

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Nervos Network (CKB) experienced a significant downturn of 15.45% this week following a surge to its all-time high of $0.038239. This decline coincided with the formation of a double bottom pattern, culminating in the breakout to this new ATH. In the preceding week, CKB encountered substantial price rejection, leading to a corrective phase. There's a growing...

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The BRC 20 token, Ordinals Protocol, registered as the most significant market decliner of the week with a precipitous drop of 39.80%. ORDI plummeted to a price low of $38.844, marking its nadir since the first week of December. Currently, ORDI is trading at $41.95, endeavoring to recuperate within a weak demand zone defined by the $38-$43 price range. Technical...

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In the context of the recent market downturn attributed to geopolitical conflicts and anticipatory adjustments prior to the cryptocurrency halving event, Ondo Finance emerged as the week's top performer with a commendable gain of 8.48%. ONDO's valuation peaked at $1.02638 before retracting to $0.79089, which has established itself as a robust support level....

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First Halving (November 28, 2012) : The reward dropped from 50 BTC to 25 BTC. In the following 12 months, the BTC price escalated from approximately $12 to $1,075, an increase of 8,858%. The inflation rate of Bitcoin decreased from 25.75% to 12% by January 2013. Second Halving (July 9, 2016) : The reward halved from 25 BTC to 12.5 BTC. Over the next year, the...

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In the daily time frame, Bitcoin's price action is exhibiting consolidation within a defined range, marked by the formation of a triple top pattern. This pattern is typically recognized as a bearish reversal indicator, emerging after a sustained uptrend. The appearance of the triple top on Bitcoin's daily chart may signal a potential shift in market sentiment from...

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Currently, Bitcoin is exhibiting a pre-halving retracement, characterized by bearish signals and lateral market movements. A technical analysis of the weekly time frame reveals the formation of a Cup and Handle pattern in Bitcoin’s price chart. Traditionally, this pattern can precede further downward movements. Notably, there is robust support within the $60,000...

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Last week, RUNE experienced a significant 24.84% decline. Presently, it's entrenched in a downward parallel trend, with a potential regression to the $7.336 level, currently trading around a key support zone. If this support level is breached, we may anticipate a continuation of the downtrend. Short-term indicators, such as moving averages and oscillators, are...

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CORE experienced a remarkable surge of 235.90% following a prolonged accumulation period. Hitting a new peak of $4.1786, it's now undergoing profit booking, currently trading at $3.1281. In the short term, oscillators signal a sell, but moving averages indicate a robust buy. Looking at the monthly timeframe, all technical indicators strongly advocate for buying....

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In the weekly timeframe, Bittensor (TAO) witnessed a modest decline of 2.81%. Presently, TAO is displaying a Cup and Handle pattern, with potential immediate support estimated around the $603 price level. Confirmation of this pattern is anticipated upon surpassing the $641 threshold, signaling a probable breakout towards the $690 target. Assessing technical...

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Internet Computer Protocol (ICP) has experienced a remarkable surge, peaking at $19.78, marking an impressive 72.64% increase. This rally commenced following the conclusion of its bearish trend, diverging from the $10.54 price point. Presently, the price is encountering resistance at $19.772, leading to sideways accumulation, with interim support identified at...

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Optimism (OP) is currently at a critical support level of $3. On the hourly timeframe, OP is showing a steep downward trend, indicating a bearish trajectory. While oscillators show a neutral stance on the daily and weekly charts, moving averages signal a significant sell-off. Optimism stands to benefit from Ethereum's Dencun Upgrade, which has notably reduced gas...