The most recent jump in the crypto market came right after Tesla’s June quarter earnings revealed it was still holding $ 1.3 billion worth of Bitcoin. Bitcoin rose to the $ 40,000 mark. XRP flashed mounting buying pressures along with signs of increased volatility, and eventually ADA saw a decline in capital inflows at press time.
Bitcoin rose nearly 7% and hovered very close to the $ 40,000 mark. It was a volatile couple of days for the crypto market as the big coins rallied and then lost value.
Conversely, Bitcoin’s trading volume was down 7.77% at press time, suggesting that selling pressure in the market has decreased compared to yesterday. Buying pressure skyrocketed as Bitcoin fell into the oversold and overbought territory. Relative Strength Index was seen above the 75 mark confirming the above statement.
Bitcoin rebounded, trying to break the $ 40,000 mark just a few days ago; The prices moved in the same range for some time so that the market trend strengthened. Average direction index was pictured over 40 marks; a reading that indicated a stronger market trend.
Green signal bars on Great oscillator also increased in size and number, indicating an onset of bullish strength.
XRP has recovered 11.7% of its lost value in the past 24 hours. Due to the price increase, the market capitalization rose by 6.96% and the 24-hour trading volume also shot up by 16.71%. XRP was priced at $ 0.66 at the time of writing.
Relative Strength Index showed a bullish trend; XRP fell back from the overbought zone; however, at the time of this writing, the indicator was registering a northward move, suggesting buyers are ahead of sellers.
In terms of volatility, Squeeze momentum indicator indicated a squeeze release, which meant that prices could fall and rise sharply in the coming trading sessions. It also showed a decline in the buy signal at press time.
MACD The indicator showed a bearish crossover on July 27th and red histograms showed a bearish signal.
ADA was at $ 1.27, up a 4.2% increase in the daily timeframe. The coin rose more than 22% over the past week, posting a 2.1% intraday gain.
Volatility seems to remain high since Bollinger bands Clearly open at the time of going to press. If prices move up, the immediate resistance is at $ 1.31 while support is at $ 1.21.
Despite the price increase, the buying pressure did not show any significant upward movement, but rather Chaikin money flow a slight dip, which meant a decline in capital inflows. Capital inflows could potentially increase with the upcoming trading sessions if the coin prices stay at current levels.
MACD still showed the presence of bearish histograms but the coin was moving towards a bullish crossover.