The halving frenzy was in full swing for BTC and cryptocurrencies in general during the past week. The event was in the spotlight even in mainstream investment channels. Past halving events were followed by important price increases over time. This and fundamentals related reasons like decreasing BTC inflation led some to think that the halving could have been a catalyst for a rally of BTC price. That could still very well be the road, but it does look like some more time will be needed.
In this post we give a picture of the technical setting for the class of small projects that we usually cover in our Weekly Reports. The following table depicts the general situation according to trend and momentum indicators. In the following sections, organized according to the different time frameworks, we provide details about all the indicators for each coin and the best positioned coins are plotted.
The last seven days were the days of the halving for BTC: the market obviously waited for the event and was hugely conditioned by it. Investors hoping for an acceleration of the uptrend going on for weeks were, however, disappointed. Small projects overperformed the field once again but were just marginally positive, with Mid-cap lagging and Top projects falling behind.
In the after-halving day, we take a look at the technical setting for BTC. Our selection of indicators is clearly affected by the movementof the last weekend. MACD has just turned negative, while both RSI and CCI are not giving a clear indication. ADX is also signaling a weakening uptrend, while Vortex is signaling the same and could be near to a sell signal.
Finally, we got there. Today was the day of the much anticipated Bitcoin halving event, which caught the attention of all investors for weeks. The event will happen around 19.30 UTC . In a classical “buy the rumor, sell the news” fashion, BTC price actually crashed over the weekend losing circa 20% of its value. It then recovered and BTC was able to finish the week with a marginal gain, but still far from the relative high.
In the last 30 days, Holo (HOT) and Zilliqa (ZIL) reported the lowest correlation levels among platform projects we follow. As reported by the matrix above, the two projects were the only two with a level below 0.5. In particular, HOT reported a level of 0.41 with the peers, while ZIL settled at 0.43.
0x (ZRX) is crushing the competition in the last seven days. ZRX price is currently 0.437 USD and its market capitalization is 285 million USD.
ZRX price rose more than 100% after 0x announced weekly staking payouts and Vitalik Buterin mentioned ZRX among the projects he wants to give a
The past week was all about BTC again. Bitcoin is under the spotlight of investors for the approaching halving event, which is going to happen in about three days. Basically, at the moment the rest of the top projects can only wait and see.
While Bitcoin is nearing 10,000 USD, we have a look at two technical indicators: RSI and MACD. BTC’s RSI is currently over 70, and therefore signaling an overbought situation. MACD is showing a positive and supportive setting. We will have an in depth look at all major projects technical settings in tomorrow’s Weekly Crypto Report.
GENERAL OVERVIEW In this report, we try to provide an overview of the crypto market during the last […]