7 hours ago
The altcoin marketplace took a backseat connected Thursday arsenic crypto majors bitcoin and ether attempted to rally to caller highs.
As billions of dollars worthy of liquidity flowed into shorting bitcoin connected the brink of grounds highs, altcoins similar ATOM consolidated, uncovering enactment astatine the $4.20 level.
Typically erstwhile bitcoin rallies altcoin terms enactment is muted and the inverse is existent erstwhile bitcoin consolidates, truthful ATOM could beryllium primed for a rally erstwhile bitcoin begins to chill off.
Technical analysis
- ATOM-USD traded wrong a scope of $4.09 to $4.26 during the 24-hour play from 2 July 16:00 to 3 July 15:00, representing a 4% swing.
- Key enactment established astatine $4.16-$4.17 with precocious measurement buying emerging astatine the $4.20 level during the 13:00 hr league connected July 3rd.
- Despite reaching a highest of $4.26 during the 07:00 hour, ATOM failed to prolong momentum supra the $4.25 absorption level.
- In the past 60 minutes from 3 July 14:24 to 15:23, ATOM-USD declined from $4.24 to $4.21, representing a 0.73% decrease.
- Sharp selloff occurred betwixt 15:03-15:07, dropping to a league debased of $4.19, earlier staging a recovery.
- Final 15 minutes showed stabilization with terms consolidation astir $4.21, suggesting imaginable short-term equilibrium.
CD20 Index Surges 2% Before Profit-Taking Emerges
- The CD20 demonstrated important volatility successful the past 24 hours from 2 July 16:00 to 3 July 15:00, reaching a highest of $1,811.11 earlier retracing to $1,793.55, with an wide scope of $37.27 (2%).
- After establishing enactment astir $1,780 during aboriginal hours, the scale staged an awesome rally done the greeting league of 3 July, gaining momentum peculiarly betwixt 09:00-14:00 earlier profit-taking emerged successful the last hour.
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