Markets
The Crypto Market Never Sleeps: Memorial Day Madness
Gala Games: Hack Attack and Recovery
Gala Games faced a $20 million hack last week, causing quite a stir. The hacker changed his mind and returned the funds, but the damage to market sentiment was done. On Monday, Ethereum was back in the spotlight, but the Gala drama increased overall market volatility.
Shiba Inu dog: a meme legend passes
In a more nostalgic touch, the original Shiba Inu dog that inspired Dogecoin has passed away. A moment of silence for the meme that launched a thousand tweets. Price action? Oh yes.
Market value and technical teasers
Last Monday’s rally lifted the total market capitalization by a juicy 9.81%. But, true to form, prices have retreated a bit. Traders were excited about the breakout, but it fell back into range. Rinse and repeat.
- High vibrations: Market sentiment showed some bullish sparks. Market capitalization crossed crucial trend lines and then suffered the predictable decline.
- Ichimoku Cloud Fun: The Ichimoku Cloud is suggesting bullish moves. The daily total market value chart is above the conversion line (Tenkan-Sen).
- RSI Ronco Festival: RSI is cooling in neutral at 50, not too hot, not too cold. A decisive move could be in play if we see some real action.
Altcoin Highlights: The Usual Suspects
- Shiba Inu (SHIB): Looks good if you can close above 0.00002614 on the daily. Possible breakout of a bearish pennant pattern.
- Chain link (LINK): Solid performance after a key victory. Closing above $17.55 could see it soar towards $20.
- Cardano (ADA): exhibiting a bullish engulfing pattern. However, conservative buyers will likely await a confirmed close above $0.50.
Thus, the crypto market continues to function, ignoring holidays and traditional market hours. We are seeing some promising technical setups and possible altcoin breakthroughs. Pay attention to bullish signals and RSI levels.
That’s a wrap for this update. Until next time, happy trading!