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Why Is the Crypto Market Up Today?

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Why Is the Crypto Market Up Today?


In a nutshell

  • The Crypto Market Cap (TOTALCAP) has made a long upper wick yet at the same time exchanges above level help. The response to the level could decide the future pattern.
  • Right after reaching a new annual high, Bitcoin (BTC) experienced a sharp decline. A bearish sign is the failure to maintain the increase. The cost exchanges inside even help.
  • 1Inch (1INCH) sped up its increment during the end of the week and arrived at another yearly high on July 17. The cost likewise broke out from an opposition line.

Over the weekend, both the price of Bitcoin (BTC) and the total crypto market cap (TOTALCAP) were unable to maintain their increases. On July 17, 1Inch Network (1INCH) set a new annual record.

The Bitcoin Lighting Network has been successfully integrated into Binance, allowing for faster and cheaper Bitcoin transactions.







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Crypto Market Cap (TOTALCAP) Creates Wick After Sharp Fall

The TOTALCAP expanded strongly last week, unequivocally moving over the $1.15 trillion opposition region. However, the price could not maintain the increase, resulting in a prolonged upper wick (red icon).

Regardless of the wick, TOTALCAP actually exchanges over the $1.15 trillion even region. Whether it closes over this area or separates rather could decide the future pattern.

TOTALCAP could tumble to the following help at $1.05 trillion in the event of a breakdown. Be that as it may, assuming the cost bobs, it can increment to the following pivotal obstruction at $1.50 trillion.



Bitcoin (BTC) Price Creates Bearish Candlestick

Comparably to TOTALCAP, the BTC cost couldn’t support last week’s increment. Rather, the cost made an extremely lengthy upper wick, thought about an indication of selling pressure. The wick was made just after the cost arrived at another yearly high.

BTC is currently trading within the $30,000 horizontal range. The response to it will probably decide the future pattern.

BTC may fall to $27,000, the next closest support, in the event of a breakdown. However, if the price recovers, an increase to $35,000 is anticipated.




1Inch (1INCH) Price Reaches New Yearly High

The 1INCH cost has expanded essentially since June 10. The pace of increment advanced quickly on July 15, and the cost broke out from a sliding opposition line the following day. 1INCH hit a new all-time high of $0.55 on July 17. The cost has almost arrived at the fundamental opposition region at $0.58.

Assuming that 1INCH breaks out, it can move to the following obstruction at $0.80. Be that as it may, a drop to the obstruction line at $0.40 could happen assuming it gets dismissed.


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