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Last week, Gala Games faced a $20 million hack that sent shockwaves through the market. However, the hacker had a change of heart and returned the funds, but the incident still impacted market sentiment. The drama surrounding Gala Games added to the overall market volatility, putting Ethereum back in the spotlight.
Shiba Inu Dog: A Meme Legend Passes
In a nostalgic twist, the original Shiba Inu dog that inspired Dogecoin passed away, marking a moment of silence for the meme that launched a thousand tweets. Despite this, price action remained relatively unaffected.
Market Cap and Technical Teasers
Following last Monday’s rally that pushed the total market cap up by 9.81%, the market experienced a slight retracement. Traders got excited about a potential breakout, only to see prices fall back into the previous range. Market sentiment showed some bullish sparks, with the Total Market Cap daily chart hinting at bullish moves according to the Ichimoku Cloud and RSI resting in neutral territory at 50.
Altcoin Highlights: The Usual Suspects
- Shiba Inu (SHIB): Showing potential for a breakout from a bearish pennant pattern if it can close above 0.00002614 on the daily.
- Chainlink (LINK): Solid performance after a fundamental win, with potential to rocket towards $20 if it closes above $17.55.
- Cardano (ADA): Flashing a bullish engulfing pattern, but conservative buyers are waiting for a confirmed close above $0.50.
As the crypto market continues its relentless pace, promising technical setups and potential altcoin breakouts are on the horizon. Keep an eye out for bullish signals and RSI levels to make informed trading decisions.
Stay tuned for more updates from Extreme Investor Network and happy trading!