The general temper of the cryptocurrency ecosystem is muted on June 15 with most altcoins buying and selling flat whereas Bitcoin (BTC) bulls search for a day by day shut above $41,000 as an indication that the market could possibly be shifting in favor of bulls.
Knowledge from Cointelegraph Markets Professional and TradingView exhibits that inside the previous few hours Bitcoin worth rallied to $41,330 however the breakout was swiftly met by promoting at overhead resistance ranges.
One other gauge of investor sentiment as highlighted by Rekt Capital is the 200 exponential transferring common (EMA), which Bitcoin tried to surpass on Tuesday however was firmly rejected.
The 200 EMA (black) is a long-term gauge of investor sentiment
When #BTC is above the 200 EMA - traders are bullish on Bitcoin$BTC is trying to interrupt previous the 200 EMA proper now#Crypto #Bitcoin pic.twitter.com/uOlDfBoB0i
— Rekt Capital (@rektcapital) June 15, 2021
Bitcoin’s rejection on the 200 EMA was adopted by a fast sell-off to $39,500, displaying {that a} potential transfer decrease is just not out of the query.
A number of altcoins rally on constructive information
Whereas many of the altcoin market noticed muted worth motion on June 15, Shiba Inu (SHIB) rallied 33% following the revelation that buying and selling for the token can be supported on Coinbase Professional on June 17.
Inbound transfers for CHZ, KEEP & SHIB at the moment are obtainable within the areas the place buying and selling is supported. Merchants can’t place orders and no orders might be crammed. Buying and selling will start on or after 9AM PT on Thurs 6/17, if liquidity situations are met. https://t.co/r2L6N477Uj
— Coinbase Professional (@CoinbasePro) June 15, 2021
Following the announcement, Chiliz (CHZ) and KEEP additionally rallied 18% and 10% respectively.
Icon (ICX) additionally obtained a lift following the release of a brand new Ethereum (ETH) Digital Machine (EVM) suitable blockchain known as ICE. ICE is anticipated to change into the applying hub for the Icon mission and it’ll have its personal native token.
VORTECS™ knowledge from Cointelegraph Markets Professional started to detect a bullish outlook for ICX on June 13, previous to the latest worth rise.
The VORTECS™ Rating, unique to Cointelegraph, is an algorithmic comparability of historic and present market situations derived from a mixture of information factors together with market sentiment, buying and selling quantity, latest worth actions and Twitter exercise.
As seen within the chart above, the VORTECS™ Rating started to show inexperienced on June 12 and finally reached a excessive of 75 on June 13, 10 hours earlier than the worth elevated 35% over the following two days.
Different notable altcoin performances embrace a 22% soar from Amp (AMP) and a 20% achieve for iExecRLC (RLC) and Extremely (UOS).
The general cryptocurrency market cap now stands at $1.685 trillion and Bitcoin’s dominance charge is 44.6%.
The views and opinions expressed listed below are solely these of the writer and don’t essentially mirror the views of Cointelegraph.com. Each funding and buying and selling transfer entails threat, it is best to conduct your individual analysis when making a call.
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