And let us not forget Ethereum, that darling of the cryptoverse, which, not wanting to be outdone, rallied like a proud rooster crowing at dawn, crossing the coveted line of $4,300 – its mightiest moment since the foggy days of late 2021. It seems as if the energies of the universe realigned themselves just for this spectacle! 💪
Technical traders, those high priests of charts and candlesticks, claim to see a bullish pattern forming on the monthly chart. Market analyst Jireon, with the gravity of a man announcing the end of the world, points to a “cup and handle” setup-a formation as classic as a Chekhov play. DOGE, he says, has been establishing higher lows, a structure that supposedly heralds great fortune. Or perhaps just great folly. 🍷
According to data that probably made someone very excited (and possibly a little sweaty), ENA rallied 16% to $0.85 on Monday, Aug. 11. Weekly gains? Over 35%. Monthly gains? Nearly 150%. Its market cap is now a respectable $5.4 billion, while its trading volume dipped slightly-to just over $1.4 trillion. Because who needs sleep when you can trade ENA instead? 😴📈
Ethereum [ETH] has shot past the $4,300 mark, leaving Bitcoin [BTC] in the dust as its dominance wanes. This has sparked a flurry of speculation that Ethereum might just pull off the ultimate coup-overtaking Bitcoin in value within the next year. 🌟
Implied volatility: it’s the market’s way of predicting the future, like a nervous man at the roulette wheel consulting the bones before he bets against all reason 🎲. Formal definitions are whispered in gloomy parlors-one standard deviation, movement over a year-yet the true meaning? Chaos. Order. The eternal tango of human folly.
Last week, you’d have found volatility lounging about at 26%, bored, fanning itself, recalling August 2023 when bitcoin slept near $30,000, dreaming of price swings, before reality kicked it out of bed.
This weekend, Bitcoin rose from $116,000 to $122,000, providing a clear lesson in the unpredictable nature of things: when volatility stirs, even Dostoevsky’s characters might put down their cigarettes and glance outside. August: the month where traders nap, and yet, the implied volatility-like a drunken uncle-shouts that it’s time for action.
Behold, the institutional embrace of Bitcoin, as companies anoint it their treasury darling, may yet choreograph a price split of Argentinean flair. Mow, the CEO of JAN3-a firm that peddles Bitcoin to nations with the subtlety of a carnival barker-prophesies that the “approved” Bitcoin, cradled by ETFs and institutions, might prance at a different price than its “free” counterpart, which eludes the grasp of governments. “We shall see how this farce unfolds,” he quips, with a wink and a flourish. 🎭
Behold! Bitcoin ascends to $122,000, a spectacle that whispers of price discovery, or perhaps, mere folly. 🎢
In a recent video update-presumably delivered with all the gravitas of a Shakespearean soliloquy-Cheds declared that Ethereum hath broken free from a “massive bullish pattern.” Imagine, if you will, a great beast awakening from its slumber, stretching its limbs, and preparing to leap into the heavens. Such is the imagery conjured by this proclamation. The price, he notes, resides in an uptrend above a rising 200-day moving average-a fact so profound it almost demands a curtsey or two. “How dost thou play it?” he muses aloud, as though addressing an eager audience at Almack’s. Why, one must seek a “clean horizontal level,” of course! 😌
Key Support levels: $4,000 (because apparently, even cryptocurrencies need therapy).
According to the fine folks at crypto.news, ZORA’s price skyrocketed to $0.139 on that fateful Monday, with its market cap ballooning to over $436 million. That’s a 160% increase from this month’s low, which is like saying you’ve lost 10 pounds only to find it again in your fridge. 🍕
