MARKET GOES THROUGH STROM: MARKET WRAP
The crypto market closed red for the second day in a row, without much loss. The downturn, however, puts investors in a predicament that they expect a steady rise as the market enters the third quarter of 2022.
The cryptocurrency was performing well at the time of writing, with a 14.3% rise in addition to the 40% slope seen in the past ten days.
The Awesome Oscillator revealed a bullish rise in assets, which could help make the 45% crash ineffective from this month.
Altcoin is very close to the recovery from a loss of 34.75% in June after marking a 10.84% rally yesterday. However, it still needs to increase by another 25% to keep track of its return to its previous high.
Reducing the apparent fluctuations in the Bollinger Bands will support this rally, especially if the candle closes over the bias it takes as a support.
The Bored Ape Yacht Club (BAYC) token when it closed green on June 28, an increase of the past 24 hours is still up for 7.31%. This saw the second half of June increase to 44.6%.
The climb, while it may be living, does not see enough penetration, which is why Chaikin Money Flow stays in the wrong place.
A member of the top 10 cryptocurrencies, SOL is not performing as well as other altcoins as after rising by almost 50%, the coin was sinking into the charts. In the last 48 hours alone, it has dropped by 14%.
This led to a bullish decline in the MACD, which put the asset at risk of a bearish crossover.
Near Protocol (NEAR)
Leading a pattern similar to Solana, the native Near Protocol token is also falling, losing more than 18% in the past two days.