Markets
The Crypto Market Never Sleeps: Memorial Day Madness
Gala Games: Hack Attack and Recovery
Gala Games faced a $20 million cyber attack last week, causing quite a stir. The hacker changed his mind and returned the funds, but the damage to market sentiment was already done. By Monday, Ethereum was back in the spotlight, but the Gala drama added to the overall market volatility.
Shiba Inu dog: the legend of a meme passes
In a more nostalgic twist, the original Shiba Inu the dog that inspired Dogecoin is dead. A moment 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 a juicy 9.81%. But as per tradition, prices have dropped slightly. Traders got excited about a breakout, only to fall back into the range. Rinse and repeat.
- Bullish vibrations: Market sentiment showed some bullish sparks. The market capitalization jumped above the crucial trend lines, and then returned to the predictable decline.
- Fun on the clouds of Ichimoku: Ichimoku cloud suggests bullish movements. The daily chart of total market capitalization is above the conversion line (Tenkan-Sen).
- RSI Snorefest: The RSI cools to idle at 50, neither too hot, nor too cold. A decisive move could be on the cards if we see some concrete action.
Altcoin Highlights: The Usual Suspects
- Shiba Inu (SHIB):U It looks interesting if it can close above 0.00002614 on a daily basis. Possible breakout of a bearish pennant pattern.
- Shirt (LINK): Solid performance after a vital win. A close above $17.55 could cause it to surge towards $20.
- Cardan (ADA): A bullish engulfing pattern is flashing. However, conservative buyers are likely waiting for a confirmed close above $0.50.
So, the cryptocurrency market continues to do its thing, ignoring traditional holidays and market hours. We are seeing some promising technical setups and potential altcoin breakouts. Keep your eyes peeled for those bullish signals and RSI levels.
That’s all for this update. See you next time and happy trading!