Bullish Divergence: Crypto Market Shows Signs of Reversal
Friday, 10 May 2024, 18:06
Bullish Divergence: Crypto Market Shows Signs of Reversal
Market Uptrend and Resistance Levels
- TradingView's total crypto market cap index hovering around $2.19 trillion.
- Short-term uptrend support tested with resistance at $2.285 trillion.
- Potential breakout towards highs at $2.72 trillion.
Social Indicators and Whales' Behavior
- Santiment data shows decreased social volume and dominance of the word "buy."
- Bitcoin's social volume drops while whales accumulate supply record percentages.
Regulatory developments reflect differing sentiments in India and the United States, impacting cryptocurrency exchanges and wallets. Despite positive indicators, caution is advised due to the asset class's inherent volatility.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.