As an experienced analyst, I closely monitor the cryptocurrency market and keep track of various technical indicators and trends. Based on the recent news stories reported by U.Today, I believe that the Tenkan/Kijun crossover in Bitcoin’s daily chart is a significant bearish indicator that could signal the start of a major price downturn. This crossover below the Ichimoku cloud further strengthens this bearish outlook.
U.Today has prepared a summary of the top three news stories over the weekend.
This bearish indicator could signal start of major Bitcoin price downturn
As a market analyst, I’ve been closely monitoring the cryptocurrency space and recently took note of Josh Olszewicz’s observation in a recent post. He pointed out the Tenkan/Kijun crossover on Bitcoin’s daily chart, where the Tenkan Sen line, which generally acts as a short-term support during uptrends and resistance during downtrends, crossed below the Kijun Sen line, serving as a medium-term support. The correlation between these lines could provide valuable insights for traders regarding the current market conditions.
Shiba Inu at crossroads as 69 trillion SHIB hang in balance
Shiba Inu is approaching a significant juncture with its decreasing price, threatening its bullish trend. Over the last week, SHIB‘s price surged to nearly $0.000028 before undergoing a correction. The downturn in Shiba Inu’s value corresponds with a broader market slump, as Bitcoin touched its lowest point in approximately a week. The current price instability centers around the 69 trillion SHIB price threshold, which bulls are attempting to safeguard against bearish influences. If these bulls succeed in defending this pivotal level, it could signal their resilience and set the stage for a recovery or even a surge. Conversely, bears may contend that this current price point might not be tenable if the market fails to regain momentum. Persistent declines could trigger a sell-off, potentially pushing Shiba Inu’s price further down. Presently, SHIB is trading at $0.0000233, representing a 5.64% decrease over the past day.
74 million XRP mysteriously shifted to wallets as whales make insane moves
Over the past few days, there has been a significant rise in XRP transactions, with numerous million-token transfers taking place between various wallets. Despite a broader market decline causing XRP’s price to drop by 1.25% to $0.5123, large XRP transfers could suggest that whales are capitalizing on the current situation by purchasing more tokens at lower prices. In line with this potential buying strategy, approximately 74 million XRP have been transferred from exchanges like Binance and Bitvavo to unknown wallets, as reported by Whale Alert. This surge in whale activity might be an indication that investors believe the value of XRP is currently undervalued.
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2024-04-29 19:03