The latest leap in the crypto market came just after Tesla’s June quarterly earnings showed it still holds $ 1.3 billion worth of bitcoin. Bitcoin has risen to the $ 40,000 level. XRP showed increasing buying pressure along with signs of increased volatility, and finally, the ADA recorded a drop in capital inflows during its press release.
Bitcoin is up almost 7% and is almost close to the $ 40,000 mark. These were a few volatile days for the crypto market, when large coins rallied and then fell in value.
In contrast, Bitcoin trading volume fell 7.77% during the press release, indicating that the selling pressure in the market has eased from yesterday. Buying pressure rose sharply as Bitcoin entered the oversold and overbought zone. Relative Strength Index was seen above the 75 mark, which confirms the above statement.
Bitcoin rallied and tried to cross the $ 40,000 mark just a few days ago; prices have been moving in the same range for some time to strengthen the market trend. Medium directivity index has been pictured above 40 points; an indicator that indicates a strengthening market trend.
Green signal bars included Awesome oscillator have also grown in size and quantity, which signifies the emergence of bullish strength.
XRP has recovered 11.7% of its lost value in the past 24 hours. The rise in prices boosted the company’s market capitalization by 6.96%, and the 24-hour trading volume also rose 16.71%. XRP is priced at $ 0.66 at the time of writing.
Relative Strength Index showed a bullish trend; XRP has retreated from the overbought zone; however, at time of writing, the indicator has registered a northward move, indicating that buyers were outperforming sellers.
As for volatility, Squeeze Momentum Indicator showed a squeeze, which meant that prices could fall and rise sharply in the upcoming trading sessions. It also indicates a decrease in the buy signal during the press release.
MACD The indicator showed a bearish crossover on July 27, and the red histograms showed a bearish signal.
The ADA was at $ 1.27 for a 4.2% daily rise. The coin is up more than 22% over the past week and posted an intraday gain of 2.1%.
It looks like volatility is still high. Bollinger Bands opened significantly during printing. If the price moves up, immediate resistance is at $ 1.31 and support is at $ 1.21.
Despite the rise in prices, buying pressure did not show a significant upward movement, instead, Chaikin’s cash flow presented a slight drop, which meant a drop in capital inflows. Capital inflows could potentially rise in upcoming trading sessions if coin prices remain at current levels.
MACD is still showing the presence of bearish histograms, however, the coin is approaching a bullish crossover.