Markets
The Crypto Market Never Sleeps: Memorial Day Madness
Gala games: hack attack and recovery
Gala Games faced a $20 million hack last week, which caused quite a stir. The hacker changed his mind and returned the funds, but the damage to market sentiment was done. On Monday, Ethereum was back in the spotlight, but the Gala drama added to the overall market volatility.
Shiba Inu dog: a meme legend goes by
In a more nostalgic twist, the original Shiba Inu The dog that inspired Dogecoin has died. A minute of silence for the meme that launched a thousand tweets. Price action? Meh.
Market capitalization and technical teasers
Last Monday’s rally pushed the total market capitalization up by 9.81%. But true to form, prices have fallen slightly. Traders were excited for a breakout, but it fell straight back into the range. Rinse and repeat.
- Bullish moods: Market sentiment showed some bullish sparks. Market cap broke out above crucial trendlines and then pulled back as expected.
- Ichimoku Cloud Fun: The Ichimoku cloud hints at bullish movements. The daily chart of total market capitalization is above the conversion line (Tenkan-Sen).
- RSI Snoring: RSI cools to neutral at 50, neither too hot nor too cold. A decisive decision could be considered if we see real action.
Altcoin Highlights: The Usual Suspects
- Shiba Inu (SHIB):UIt looks tasty if it can close above 0.00002614 daily. Possibility of breaking a bearish pennant configuration.
- Chain link (LINK): Solid performance after a fundamental victory. A close above $17.55 could send it skyrocketing towards $20.
- Cardano (ADA):Flashing a bullish engulfing pattern. However, conservative buyers are likely waiting for a confirmed close above $0.50.
So, the crypto market continues to do its job, ignoring traditional holidays and market hours. We are seeing promising technical setups and potential altcoin breakouts. Keep your eyes peeled for these bullish signals and RSI levels.
This is the end of this update. Until next time, and happy trading!