Monday is considered the most unpleasant day of the week, and the cryptocurrency market proves it fully today. With the opening of the American stock market markets at a three -week hollow, the prices on the cryptography market were affected so loud that $ 349.34 million was liquidated in 24 hours. From this, 293.79 million dollars are long positions.
What is currently drawn on the price graphics of many cryptocurrencies does not seem too encouraging, and several indicators double this. For example, cryptocurrency inspired by the mememe popular, Shiba Inu (Shib)Recently found strong resistance to its 23 -day mobile average and lost 5.83% of its value in the last 16 hours.
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In addition, while the bulls disappear and the Bears take over, Shib seems to be intended to test the appetite of buyers, at least at $ 0.000011, which is 23% below the current price. Quite painful perspective, right?
Whether it is the beginning of the end, or if the end has already occurred, remains a question of speculation. Few would have predicted such a result in December or November, when the euphoria took over the market. Many titles have pointed out that February is the start of the most prosperous period for the cryptography marketThis is indeed the case, according to historical trends.
What is the end game?
But what kind of mind games are it? Is it a strategy for getting rid of the hands of paper and latecomers? Is it really a paradigm shift, and the hopes of a bull market and a season of Altcoin can be multiplied in zero now?
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The cryptography market is rarely an understandable place, and it is better not to predict but to react. So, even if Salogner is currently leaning over a lower level of support, things can change with the next one hour candle.