Crypto Market Round-up For July 23

Bitcoin reclaims $31,300 horizontal support zone indicating the creation of a bullish candle after one bullish engulfing candlestick surfaced on July 22. Currently, the flagship cryptocurrency is trading above $32k after a series of announcements, such as Tesla acquiring a large expanse of land for mining operations.

Technical indicators are indicating a bullish trend. Meanwhile, RSI is rising and now almost above 50. However, MACD is still below zero but has created two higher highs already. Stochastic oscillator slightly indicates the end of a bearish run, but the bulls are yet to surface. Closest resistance zone is still between the range of $35,900.

Axie Infinity Up 30%, Lead Altcoins 

DeFi Token, $AXS is up by 30% from Thursday’s 22%. After settling at $23, it is currently trading at a day-high of $30. Its in-house counterpart, Small Love Potions ($SLP) is up 3%. Other altcoins record little gains including Ethereum posting a 2.2% gain from yesterday. Alien Worlds ($TLM) is up by 14%. Dogecoin is trading at $0.19, 0.34% up from the $0.18 price mark on Thursday.

ThorChain ($RUNE) plunges by 15% to $4 after facing an exploit that saw whitehat hackers generously cart away $8 million. This is the third attack the DeFi protocol is encountering in the wake of its ChaosNet upgrade, which is aimed at making the protocol cross-chain. However, the hackers claimed the exploit was done to teach the protocol a lesson for being vulnerable and asked for a 10% bounty.

Views and opinions expressed are solely those of the author and not of The DeChained or any affiliated party. Views or opinions expressed in this article (or any article on the website) are not financial advice. Articles are for informational purposes only. The author and The DeChained may hold positions in assets discussed in this or other articles.
Related Posts