Fun

Technical Analysis: Bitcoin Hits $40,000, as LEO Leads Friday Rally

News Feed - 2022-02-05 03:02:01

Technical Analysis: Bitcoin Hits $40,000, as LEO Leads Friday Rally


Bitcoin rallied above $40,000 on Friday, however, this was not the biggest mover in crypto markets to end the week. Cryptocurrencies climbed today, following news that over 400,000 jobs were added to the U.S. economy last month. Biggest gainers


Bitcoin (BTC) climbed to $40,000, ethereum was fast approaching $3,000, with Solana nearing $110, however, none of these were today’s big mover.


That honor went to UNUS SED LEO, which rose by a whopping 30% on Friday, and nearly 55% over the course of the last 7-days.


LEO/USD, rose to an intraday high of $5.48, following its low of $4.02 during yesterday’s session.


Today’s news comes as LEO broke past its recent resistance level of £$3.88 earlier this week, before falling in Thursday’s red wave. LEO/USD – Daily Chart


The move came as the moving averages of 10-days (red) and 25-days (blue) had an upward crossover for the first time since December 29.


In addition to this, the RSI now tracks at 81, which is deep in overbought territory, which may giveaway to profit takers over the weekend.


Biggest losers


Relatively speaking, there were not many bears on Friday, with only 2 of the top 99 cryptocurrencies marginally falling.


However, if you scrolled down to the #100 listed cryptocurrency, markets were not so kind to yesterday’s biggest gainer, immutable X (IMX).


IMX was down by over 22% today, following its 35% rise on Thursday, as traders likely chose to take profits, rather than maintain their positions.


Earlier in today’s session, IMX/USD slipped back to support of $3.01, after trading at a high above $5.40 less than 24-hours ago. IMX/USD – Daily Chart


The RSI of 14-days also fell below the 50 level, and now tracks at 45.98, and appears to be heading deeper into oversold territory. Tags in this story Bitcoin, BTC, buy the dip, ETH, Ethereum, IMX, LEO


Have markets already begun to doubt the value of the IMX, Gamestop partnership? Let us know your thoughts in the comments. Eliman Dambell


Eliman brings a diversified point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: ETH up Nearly 10%, Crypto Markets Rally MARKET UPDATES | 8 hours ago Technical Analysis: Gamestop Partnership Sends IMX 35% Higher MARKET UPDATES | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous article60,000 Indians Petition Government to Lower Crypto Tax to Avoid ‘Devastating Impact’ Next articleBank of England Hikes Bank Rate to 0.5%, Governor Andrew Bailey Hints at Wage Restraints Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItNansen Report Highlights Growth of Defi and NFTs in 2021


Nansen, a cryptocurrency and blockchain statistics and analytics platform, has issued a report on the growth of decentralized finance (defi) in 2021. The document highlights how defi managed to keep growing, opening the field to new participant chains. Non-fungible tokens ... read more.Blockchain and Cryptocurrency Is "Here to Stay and Impossible to Regulate at Large" — CEO of a United Arab Emirates Based Bank Vitalik Buterin to Use $100 Million From Crypto Relief"s SHIB Funds to Accelerate Covid Relief Efforts Stablecoin Issuance Surged Last Year — UST Saw the Largest 12-Month Increase Nigerian Crypto Firm Executive: Central Bank Prohibition Led to Growth in Crypto Awareness

News Feed

Felix Ng7 hours agoDear crypto writers: No one wants to read your ChatGPT-generated trashOpinion: If you used ChatGPT to write an article, do us all a favor and delete it. None of us want to read it.706 Total views14 Tot
US Lawmaker: FTX Collapse Isn’t a Crypto Failure — It’s a Failure of SEC, Bankman-Fried, Centralized Finance
US Lawmaker: FTX Collapse Isn"t a Crypto Failure — It"s a Failure of SEC, Bankman-Fried, Centralized Finance U.S. Congressman Tom Emmer says the FTX meltdown is not a crypto fail
Biggest Movers: ATOM up for Fourth Straight Session, While XTZ Rebounds on Saturday Low
Biggest Movers: ATOM up for Fourth Straight Session, While XTZ Rebounds on Saturday Low Cosmos rose for a fourth consecutive session to start the weekend, as prices edged closer to
Arbitrum’s Governance Token ARB Ranks Within Top 40 Market Capitalizations Following Airdrop
Arbitrum"s Governance Token ARB Ranks Within Top 40 Market Capitalizations Following Airdrop Following the Arbitrum token airdrop, ARB has become a top 40 cryptocurrency as it curr
Following the Great UST Collapse, a Defi Project Plans to Launch a ‘Soft-Pegged Stablecoin’ Built on Terra
Following the Great UST Collapse, a Defi Project Plans to Launch a "Soft-Pegged Stablecoin" Built on Terra Following the Terra stablecoin collapse last May, the Terra blockchain ec
Kenya Central Bank Governor: Low Smartphone Penetration Working Against Plan to Launch CBDC
Kenya Central Bank Governor: Low Smartphone Penetration Working Against Plan to Launch CBDC According to Patrick Njoroge, the governor of the Kenyan central bank, the significant n
Future Outlook For HBAR: Insights From Hedera Q3 Surge And Price Projections
Este artículo también está disponible en español. Decentralized ledger platform Hedera has posted a solid set of third quarter (Q3) results, in line with broader market t
China’s Wechat Adds Support for Digital Yuan Payments
China’s Wechat Adds Support for Digital Yuan Payments Chinese social media platform Wechat has introduced support for the state-backed digital yuan in its popular payment app. Ov
Bitcoin, Ethereum Technical Analysis: ETH Back Above $1,200, as Federal Reserve Set to Pivot Policy
Bitcoin, Ethereum Technical Analysis: ETH Back Above $1,200, as Federal Reserve Set to Pivot Policy Ethereum moved back above $1,200 on Thursday, as markets continued to react to t
Russian Crypto Industry Queries Government About Proposed Criminal Liability for Miners
Russian Crypto Industry Queries Government About Proposed Criminal Liability for Miners The organization representing Russia’s crypto sector has asked the government in Mosco
Ideaology Announces IEO Collaboration and Subsequent Listing of IDEA Token with Bitcoin.com Exchange
Ideaology Announces IEO Collaboration and Subsequent Listing of IDEA Token with Bitcoin.com Exchange PRESS RELEASE. Ideaology, the blockchain-oriented company bu
William Suberg9 hours agoBTC price bounces 3% post-Binance amid call for Bitcoin bulls to ‘step in’Bitcoin is due to spend some time ranging before an “impulse” move ensues, bullish BTC price analysis predicts.38