Although there were some early signs that an altcoin season may be upon us, top crypto assets like Ethereum have been reverted to weakening performance against Bitcoin.
However, a big move is potentially coming, as the Bollinger Band Width of most major crypto assets on their BTC trading pairs is indicating a distinct lack of volatility that is bound to break with an explosive bang.
Major Crypto Trading Pairs Against BTC Set Record-Low Volatility
The cryptocurrency market appears to be at a bit of an impasse and doesn’t know where it wants to go next.
Bitcoin continues to struggle with resistance above $10,000, while altcoins are still more than 80% away from recovery to all-time high prices.
Sentiment in the asset class is improving, but prices remain constrained to lower highs that typically signal weakness.
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Bitcoin interest has been picking up post-halving, and institutions seem to finally be buying in. But it’s still not enough. On BTC trading pairs, altcoins everywhere are stagnant, repeatedly testing lows but unable to fall lower.
The lack of momentum has led to most major cryptocurrency assets to reach extreme lows in terms of volatility.
Lots of majors with fairly tight daily Bollinger Bands$LTC $XMR $TRX $EOS $IOTA $XLM pic.twitter.com/a1iPrWITcP
— Goomba {C-fork maximalist} (@im_goomba) May 28, 2020
Is Tightening Bollinger Band Width A Prelude To Altcoin Season?
Bollinger Bands are a technical analysis indicator designed by market analyst John Bollinger, and feature a simple moving average and two standard deviations of that SMA.
The top and bottom bands indicate volatility within price action, as they expand and contract. The more wild the price action, the wider the bands get.
Related Reading | Ethereum (ETH) May Be Forecasting 50% Drop Against Dominant BTC
When things get stagnant and markets trade sideways, the Bollinger Bands reduce in width. This coiling effect releases a powerful explosion to either the up or downside, spending on the trend.
Major crypto altcoins like Monero, Litecoin, and many others are showing some of the lowest Bollinger Band Widths in the asset’s history, suggesting that a massive break is possible, and one that will lead to a strong return to volatility.
Altcoins are extremely oversold on BTC trading pairs and have already touched lows from the early days of the crypto bubble. Many remain down over 80% from all-time high prices, while Bitcoin trades at close to 50% from its record.
And while Bitcoin deals with such a critical level at $10,000, a boost in altcoins may be the path of least resistance for the crypto market. A breakout to the upside on these pairs doesn’t necessarily indicate a crash in Bitcoin, but it could suggest a proper altcoin season will be coming soon.
The alternative is that altcoins fall further, with many of them possibly falling back to pre-bubble pricing against BTC. origin »
In a highly anticipated conference on Tuesday, David Sacks, the newly appointed “Crypto Czar” and venture capitalist, alongside Republican lawmakers, laid out plans to develop a regulatory framework for crypto assets in the United States.
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Coinspeaker
IOSCO Introduces Global Policy Recommendation to Guide Crypto and Digital Assets Industry
Several jurisdictions have made outstanding efforts to release standard crypto regulations to safeguard citizens and their assets.
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Despite the resistance staged by the bears in the broader crypto market, some mainstream assets have managed to retain at least a 25% gain in the past week. These assets appear to be bucking the trend at a time when…
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The post Ethereum (ETH) & Solana (SOL) Become Most Staked Crypto Assets appeared first on BeInCrypto.
United States President Joe Biden has passed an executive order on crypto, which is called “Ensuring Responsible Development of Digital Assets. After this, the federal agencies introduced a joint fact sheet on six principal directions for regulation in the U.
Governor of the Bank of England, Andrew Bailey, is not the biggest fan of crypto assets. The 63-year-old British central banker has not relented in his campaign to expose the futility of crypto investments, oftentimes referring to them as without "intrinsic value."
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The world’s superb cryptocurrency has extended last week’s losses on Monday morning, spurring widespread dumping across the entire crypto markets as it lost grip on the $45,000 price level. As a result of the drop, over $383 million in crypto assets has been liquidated, bringing the total number of liquidated buyers across all crypto assets […]
2021 has been an explosive year for crypto assets, with the total market cap rising from less than $790 million to nearly $2. 5 trillion. Coins like DOGE, CAKE, MATIC, BTT, LUNA, ETC, SOL, HOT, ENJ, BNB, RUNE, HNT, VET, and AVAX have rallied by four to five digits percent this year so far.
PayPal, the $236 billion digital payments giant, will allow users to buy and sell crypto assets.
The post PayPal to enable users to buy crypto assets, fueling strong Bitcoin momentum appeared first on CryptoSlate.
Over one-third of U.S investors have shown interest in investing in Bitcoin and other crypto assets, according to the world’s largest crypto assets investments manager, Grayscale. Grayscale said that this is a wakeup call for financial advisors to catch up on crypto assets and facilitate the transition of new adopters in the crypto market. “Over […]
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The crypto market first began with the advent of Bitcoin, but in just a decade’s time, thousands upon thousands of alternative crypto assets have been created. Many of these new-age altcoins have performed well for early investors, but the vast majority of crypto assets outside of the top 40 by market cap have little to.
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