Cryptocurrency markets are starting another weekend and we will see volumes drop again. Graphs that do not rise despite many good news mean more losses for investors. BTC While fluctuating around $110,000, several cryptocurrencies such as AAVE and PUMP Coin have made significant gains in the last hour alone.
Cryptocurrencies are boring
After one step forward and two steps back, the gold rally ended, but US stock markets hit a new record. Neither the drop in gold due to the disappearance of tensions with China nor the increase in stock markets by trillion-dollar giants produced the desired results in cryptocurrencies. Trump, who put the brakes on China on October 10, caused huge sales, but at today’s point, the charts do not move even though we see an extremely good 12-month agreement. The agreement is expected to be officially signed next week.
Michael Poppe reiterated what everyone said “the market is boring, suffocating, I am not happy to see red candles” and added “fundamentally the markets are in such a strong position that it is only a matter of time before prices start to rise” but hopes are waning. A significant portion of altcoins could not even come close to their election period peaks.
DaanCrypto TOTAL Sharing his chart, he said that closings below $3.54 trillion could be painful.
“Total Market Cap is still where it should be. But it’s really important to keep watching this level. If you’re a bull, you don’t want this level to be lost.”
BTC and of cryptocurrencies I still think the main reason for its relative weakness is that many 4-year cyclists are selling in these months. We can’t blame them as this is the only consistent pattern in BTC history.
A lot of capital will be required to absorb all these sales. You can’t break the 4-year cycle until you bounce back to new highs in Q1 and/or maintain that level until that point. As long as the price remains at this level, you will see a lot of selling pressure from these market participants. The weaker the price movement, the more convinced people are that the cycle is over.
And yes, if you can absorb it, theoretically this can be “good”. But if there aren’t enough willing buyers, this can just become a self-fulfilling prophecy. So, I would say stick to the graphics and be prepared for both scenarios.”
AAVE and PUMP Coin
DaanCrypto talks about fear selling by those expecting a cycle top. So it may be useful to also spend time on short-term strategies these days, because we should see a lot of buying opportunities until January (the mentioned scenario). of DeFi one of the biggest players AAVE It increased by around 5 percent and this increase in the last hour may continue until the resistance range of $ 240-248. We can see that $ 262 is retested in the environment where the rise continues over the weekend.
PUMP Coin It also recovered from the base of $0.00424 today and gained around 5 percent. If things go well for PUMP Coin over the weekend, it can return to the $0.004818 and $0.00508 range. Since the previous 2 rises started from this level, regaining the range will also increase investor appetite.
