Part two of an Elliott Wave, technical, and on-chain anlalytical thesis used to gauge current market behavior and forecast the next directional moves in the crypto market. Bitcoin price shows smart money accumulation signals. A bottom may be near. Ethereum price is likely to witness an influx of volatility, a swing trader's approach may be the most suitable. Ripple price remains in a bearish stronghold based on recent bearish influence.
Dogecoin price is drifting slowly down to a stable support floor that could potentially provide a reversal point and the start of a new uptrend.On-chain metrics, however, are not great fans of a bullish move and suggest that any attempts at a rally will be blocked.
Mt.Gox announced that September 15 is the deadline for creditor claims. This coincides with Ethereum’s Merge, a long awaited event in crypto history. Therefore, Bitcoin and Ethereum holders need to be cautiously optimistic according to analysts.
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Crypto.com price could fool a lot of investors in the coming weeks. As the CRO price hovers in the $0.10 zone, many declines could be losing power. Crypto.com currently auctions at $0.1065. The bulls are testing the 8-day exponential moving average resistance.
Solana price has lost 22% of its market value since mid-September. The Volume Profile indicator is still questionable as to who dominates the market. Invalidation of the bullish idea is contingent upon a few factors mentioned below.
JPMorgan shared its concerns about the Ethereum Merge this Wednesday, citing the hard fork which gave rise to another chain called Ethereum PoW. Since the Merge 8 days ago, Ethereum has been on a consistent downtrend falling from $1,700 to $1,300.
The FIFA World Cup 2022 is one of the most anticipated events ever, and with worldwide crypto adoption spreading rapidly, it was certain for the World Cup to integrate it as well. FIFA leaned into crypto through NFTs, and with its marketplace going live, Algorand is enjoying a good run-up on the charts.
Bitcoin price has been on a rollercoaster ride since June 18. The most recent yet explosive run-up has hit targets mentioned in our previous publication. After hitting these levels, BTC has undone these gains quickly.
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