#BANANA gave a shallow break of the falling wedge #pattern and still going through consolidation. Price can #move down from here or after a retest of the resistance, expecting a new lower low. #crypto
#Bitcoin #network activity has dropped to its LOWEST level in more than 7 years. As of June 4, Bitcoin’s 60-day average active addresses sat just above 600,000, back near levels last seen during the 2019 bear market. #crypto $BTC
$BNB is currently #trading above the horizontal support. It is also retesting above the descending trendline. An upward #move is expected for however long it is #trading above the marked zone. #crypto
CHIP is currently #trading above the daily demand zone, from where previously we’ve seen a massive #bullish rally. Now it is regaining momentum for the upward move. #crypto
BTC.D has broken below the key ascending support trendline of the symmetrical triangle, which is a #bearish signal for BTC.D. If this breakdown is confirmed with a sustained #move below the support zone, further downside toward the lower support levels can be expected. A decline in BTC.D would likely favor altcoins, increasing the chances of an #altseason style move. However, BTC.D needs to remain below the broken trendline. otherwise, a reclaim could invalidate the breakdown and lead to another #move toward the upper resistance trendline. #crypto
JPMorgan says the timeline for passing the #crypto market structure bill this year is getting tighter. Analysts point to the approaching U.S. midterms, the stablecoin yield debate, and remaining legislative hurdles. #crypto