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Will Bitcoin Recover? đ
Amidst Bitcoin's recent #dip to $38,500, signs of a potential recovery emerge.
The introduction of the first US spot Bitcoin ETFs faced challenges, with the Grayscale Bitcoin Trust (#GBTC ) experiencing outflows, possibly tied to its conversion.
On-chain metrics, specifically the Advanced Network Value to Transaction (#NVT ) Signal, suggests oversold conditions, mirroring the 2022 bear market.
Long-term holders (LTHs) displayed capitulatory behavior, sending coins to exchanges at a loss, raising concerns of a deeper downturn.
As the industry debates whether Bitcoin has bottomed, attention remains on ETF flows, institutional moves, and hodler sentiment.
#Binance
#crypto2024
Amidst Bitcoin's recent #dip to $38,500, signs of a potential recovery emerge.
The introduction of the first US spot Bitcoin ETFs faced challenges, with the Grayscale Bitcoin Trust (#GBTC ) experiencing outflows, possibly tied to its conversion.
On-chain metrics, specifically the Advanced Network Value to Transaction (#NVT ) Signal, suggests oversold conditions, mirroring the 2022 bear market.
Long-term holders (LTHs) displayed capitulatory behavior, sending coins to exchanges at a loss, raising concerns of a deeper downturn.
As the industry debates whether Bitcoin has bottomed, attention remains on ETF flows, institutional moves, and hodler sentiment.
#Binance
#crypto2024
đ„đ„đ„ #DogecoinPrice Risks 12% Drop Amid Dwindling On-Chain Metrics
Dogecoin ($DOGE ) is facing challenges following a recent crypto market crash spurred by Middle East conflict uncertainties. While Bitcoin shows mild recovery at $61,200, Dogecoin has seen a slight price increase of 2.6%, currently trading at $0.1081. However, on-chain metrics suggest a potential 12% decline ahead.
On-Chain Concerns:
- Data from Santiment reveals a significant price-DAA (Daily Active Addresses) divergence of -66%, indicating that the recent price rise lacks supporting user engagement.
- Additionally, Dogecoin's #NVT (Network Value to Transactions) ratio has reached a three-month high of 397.32, suggesting it may be overvalued and indicating a potential price drop.
#Priceanalysis :
Current price action leans neutral to bearish, with a failed breakout above $0.1150 signaling weakness. Key levels include:
Support:
- $0.0950 (critical support; break below may trigger further declines)
- $0.1050 (short-term support)
Resistance:
- $0.1150 (previous neckline, now resistance)
- $0.1250 (peak during the fake breakout)
If DOGE can stabilize around $0.0950, it may present a long-term buying opportunity. Conversely, a rally above the neckline could signal broader market strength, potentially pushing DOGE toward $0.13, invalidating the bearish outlook.
Source - coingape.com
#CryptoMarketTrend #BinanceSquareTalks
Dogecoin ($DOGE ) is facing challenges following a recent crypto market crash spurred by Middle East conflict uncertainties. While Bitcoin shows mild recovery at $61,200, Dogecoin has seen a slight price increase of 2.6%, currently trading at $0.1081. However, on-chain metrics suggest a potential 12% decline ahead.
On-Chain Concerns:
- Data from Santiment reveals a significant price-DAA (Daily Active Addresses) divergence of -66%, indicating that the recent price rise lacks supporting user engagement.
- Additionally, Dogecoin's #NVT (Network Value to Transactions) ratio has reached a three-month high of 397.32, suggesting it may be overvalued and indicating a potential price drop.
#Priceanalysis :
Current price action leans neutral to bearish, with a failed breakout above $0.1150 signaling weakness. Key levels include:
Support:
- $0.0950 (critical support; break below may trigger further declines)
- $0.1050 (short-term support)
Resistance:
- $0.1150 (previous neckline, now resistance)
- $0.1250 (peak during the fake breakout)
If DOGE can stabilize around $0.0950, it may present a long-term buying opportunity. Conversely, a rally above the neckline could signal broader market strength, potentially pushing DOGE toward $0.13, invalidating the bearish outlook.
Source - coingape.com
#CryptoMarketTrend #BinanceSquareTalks
Nerve Network is celebrating this achievement and is committed to expand ecosystem by adding cutting-edge blockchain projects in the future.
#MantaNetwork #nervenetwork #MANTA #NVT #MNT
https://blockchainreporter.net/nerve-network-successfully-integrates-with-manta-network-ushers-in-a-new-era-of-interoperability/
#MantaNetwork #nervenetwork #MANTA #NVT #MNT
https://blockchainreporter.net/nerve-network-successfully-integrates-with-manta-network-ushers-in-a-new-era-of-interoperability/