Cryptocurrency SLP is looking for a bigger recovery

Gregor Horvat Wavetraders

Cryptocurrency SLP made an impulsive five-wave rally from the lows, which is barely first leg A/1 of a minimum three-wave A/1-B/2-C/3 recovery. With recent slow down, we can now see it potentially finishing an a-b-c irregular flat correction in B/2, where ideal support comes around 0.0027 – 0.0025 area. So, watch out for bounce and bullish continuation within wave C/3 soon, just keep in mind that we remain bullish as long as the price is above 0.0020 invalidation level.

Get Full Access To Our Premium Elliott Wave Analysis For 14 Days. Click here.

Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

Ripple and Stellar outlook: XRP and XLM tumble as technical outlook deteriorates

Ripple and Stellar extend their declines, trading below $1.06 and $0.165, respectively, as selling pressure intensifies. In addition, weakening technical structures and bearish derivatives metrics suggest the correction for both altcoins could deepen if key support levels fail to hold.

Crypto Market Overview: Pi Network, Uniswap lead gains as Bitcoin steadies at $64,000

Bitcoin trades above $64,000 on Thursday, testing the bullish breakout of its 50-day Exponential Moving Average near $64,660. Mild recovery in BTC lifts altcoins, with Pi Network and Uniswap emerging as top performers over the last 24 hours.

Bitcoin stalls despite strong market activity across traditional assets

Bitcoin remained subdued while stocks edged higher and gold lower, suggesting the market is trapped between weakening institutional demand and growing signs of seller exhaustion, according to a Glassnode report on Wednesday.

Hashdex Bitcoin ETF to shut down following low liquidity

Hashdex Asset Management stated on Wednesday that it will liquidate and close the Hashdex Bitcoin ETF (DEFI), due to low assets under management, limited liquidity and operating costs. The fund managed approximately $14.7 million in assets as of July 30, according to a statement on Wednesday.

Bitcoin: Bulls hold the line

Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.