Daily Market Brief O@N Crypto Sunday 25TH JULY Caps a | O&N Crypto ® Official - News, Analysis and...

Daily Market Brief
O@N Crypto
Sunday 25TH JULY


Caps and sentiment
Market capitalisation: $ 1.40 Trillion(↑ 0.68%) increase over the day
Bitcoin’s dominance: 46.28% ( ↑0.38%) increase over the day
Fear Index: 27 ( from 22)

Top 10 coin prices
1. Bitcoin: $34,407
2. Ethereum: $2,154
3. Binance Coin: $298
4. Cardano: $1.21
5. XRP: $0.59
6. Dogecoin: $0.19
7. Polkadot: $13.36
8. Uniswap: $17.72
9. Bitcoin Cash: $444
10. Litecoin: $124


Brief analysis of the market

The fear and greed index has now exited the extreme fear rating after increasing by 5 points from 22 to 27, indicative of a decreasing fear scale from within the market. After the ATH of the S@P 500 on Friday just before market close we saw a rally for Bitcoin from market lows of 31994 to 33,300, during the weekend Bitcoin has also managed to break through a key resistance zone the 34,300 region, however is now struggling to maintain the break.

What is currently being setup is a RISING WEDGE – these usually conclude 68% of the time with a retracement. Given the circumstances which led to the rally a low volume pump without any consolidation we can expect price to break back down to 32,680 which would mark a perfect area to rebuy in.

NFT gamification has also become a hot topic over the weekend with the likes of ALICE and AXS, these cryptocurrencies are governance tokens for their respective games. Holding the coins allow users to shape and vote in the direction of the game universe.

The appeal of a play to earn crypto game is a new concept for the western audience and given the capitalistic nature we can expect gamification within the context to have an increasing appeal.