During the previous week modest rebound on financial markets was evident; however, higher level of optimism is missing. For some time, inflation fears were driving the market sentiment, while recently fears of recession were the main topic among financial professionals. Coming potential slowdown in economic activity will impact profits, which could be a major...
Last week in the news Markets were closed higher on Friday, after a period of strong negative sentiment caused by FED`s moves and rhetoric around surging inflation. The US equity market was up by some 3% on Friday. Bitcoin moved above the $20K support line, while Ether manages to hold above $1K. Regardless of Friday`s modest rebound on financial markets, the...
During the previous week LINK lost some 20% in value from the week before. If we take into account general market circumstances and strong downtrend on the crypto market, this was not such a bad performance. This comes especially as LINK was traded in a sort of mixed mode, with equal share of both selling and buying orders. Of course, there is some probability...
If we take into account general market sentiment and developments during the previous week, it could be noted that ADA outperformed the market by dropping less than many other coins. The price went down from $0.56 to $0.44, where on Tuesday and Wednesday buying orders dominated the market. Regardless of the drop in the price, ADA was traded in a mixed mode, which...
Within a single week BNB lost some 29% in value. This came as a result of the negative market sentiment and general push of asset prices to the downside. BNB started the week testing $250 support line but soon managed to break it and finish the week around $190 next support. During the whole week RSI was moving in the oversold territory, around level of 23....
During the previous week XRP was following general market sentiment and finished the week 17% lower from the end of a week before. On a positive side, XRP managed to lose lower compared with major coins. This probably comes from the fact that XRP previously was following a continued down trend, where the price was already adjusted to the future market...
It was another round of selling orders for ETH, so the coin continued its moves to the downside. Psychological line at $2K is now too far away, while the coin is struggling to maintain $1K in value. Whether the bottom-line has been reached is to be seen in the coming days when markets calm down after the latest strong downtrend. During the Monday trading the...
By the theory of effective markets, all known facts about an asset are discounted to the present price as a reflection of the real current value of that asset. Something like this happened during the previous week on financial markets, including the crypto market. Expectations of the future prospectus of the business conditions were fuelled by both FEDs increase...
Last week in the news The FED has once again moved the markets to the negative territory. Another rate increase of 75bps and potential for another one in July, encouraged another sell off on the markets during the previous week. Bitcoin slipped below $20K support and Ether is modestly below $1K. At the FOMC meeting held during the previous week, the US...
LINK had an excellent start of the previous week, when its price managed to break the $8 long term resistance line, reaching its highest level at $9.6. Resistance line at $10 has not been tested on this occasion. Unfortunately, negative macro fundamentals pushed the price down to level of $7.1 as of the end of the week. Prevailing buying orders for LINK started...
Regardless of general market sentiment, it might be noted that this was the second good week in the row for ADA. Market showed that there is potential for this coin, as price moves were more oriented toward upside, rather than to the downside. During the first half of the week, the price of ADA was moving toward the $0.7 resistance line, however, US CPI spoiled...
BNB was under high pressure during the whole week. At the start of the week price was pushed shortly to the level of $313, but selling orders were prevailing with this coin during the whole week. Soon, price reverted to the downside and reached its lowest weekly level at $266 on Saturday trading. Support line at $250 has not been clearly tested, which opens a...
Selling orders were prevailing on the market for XRP during the previous week, so the price of the coin was pushed down to the level of the next support line at $0.35. For a few weeks, coin was struggling to sustain the $0.40 support line, however, negative fundamentals were the ones that made an impact for XRP to finish the week at the next support line....
Ether had another bad week, outperforming BTC for one more time. It could be noted that it is an interesting development, considering that Ethereum network has a significant place in development of many applications for DeFi`s and NFT`s, but ETH`s price within the last month, is just not following that potential. Following the theory of efficient markets, we just...
Within an environment of peaking oil and food prices with disturbed supply chains, keeping inflation under control is quite a challenging task for FED. Tightening monetary policy during this year still has not provided expected results, as per May CPI results, so further measures are to be expected in terms of additional rate hike by 50 bps on the next FOMC...
Last week in the news Inflation in the U.S. hit new records in the last 40 years, reaching 8.6% in May, as published on Friday. The US equity markets closed lower after the results, as well as the crypto market. Bitcoin is finishing the week below $30K support, while Ether is testing a $1.520 support line. Inflation figures and monetary policies were in the...
It was an interesting week for LINK. Although trading volumes had significantly increased, still LINK was holding strongly to the sideway. Price was modestly pushed from level of $6.2 up to $7.7, ending the week around $7.3. It seems like LINK is trying hard to remain at current levels. Long term resistance line at $8 has not been tested during the week. During...
Finally one good week for ADA, after the last two months of struggling with the down trend. Although it looked like that coin managed to start a reversal, still a road toward an overbought market continues to be on hold. Regardless of indicators, ADA managed to recover some of the previous losses, adding $3B to its market cap and moving the price from $0.45 up to...