AI focused near the token that dropped 5% on Friday despite the launch of the nearby Bitwise exchange product (ETP).
The sale-off will come during a muted day for cryptocurrencies with Bitcoin also returns from its test of a new high record.
Launching Bitwise near Staking ETP marks a significant milestone for adopting institutional protocols, allowing regulated investors to obtain exposure to rewards closely near by a traditional investment vehicle.
Technical analysis
- Closely experienced a huge decline of $ 0.124 (5.42%) Within the 24 -hour period from 3 July 15:00 to 4 July 14:00, with price decline from $ 2.294 to $ 2.170.
- The possession established a clear resistance zone around $ 2.290- $ 2.298 with multiple declines, while destroying below the main support of $ 2.220 in heavy quantities (2.7m) During the period of 04:00 hours.
- The Bearish momentum intensified a spike volume at 2.83m at 7am when the price reached its lowest point at $ 2.172, forming a potential double bottom with a 13pm of $ 2.167 low, suggesting possible stabilization despite the general negative trend.
- In the last 60 minutes from 4 July 13:06 to 14:05, close to experienced significant volatility with a net decline of $ 0.018 (0.82%)decreases from $ 2.192 to $ 2.170.
- The asset established a clear resistance to $ 2.177 with multiple declines, while showing the well-known sale pressure at 13: 37-13: 39 when the price dropped from $ 2.174 to $ 2.169 in heavy quantities (119k).
- A brief recovery attempt took place at 13:53 with a spike at $ 2.175 in large quantities (77K)But the momentum failed to maintain, with the price in the latter fixing a integration pattern between $ 2.169- $ 2.171 in the last minutes of the season.
CD20 index drops 2% as the momentum momentum accelerates
The CD20 index experienced significant downward pressure in the last 24 hours from 3 July 17:00 to 4 July 16:00, decreasing from $ 1,788.41 to $ 1,756.06, which represents a decline of $ 32.35 or 1.81%.
The overall trading incidence during this period is $ 45.74 (2.56%)with a peak of $ 1,801.60 taking place on 3 July 21:00, followed by the same -pressure sale that increased after 13:00 on July 4, when prices fell nearly $ 15 in an hour.
