Near, Aave and Graph rally as large-caps consolidate

AS the week begins, the crypto markets are seeing a mixed bag of action.

Large-cap coins like Bitcoin are playing it cool, consolidating after last week's price pulse. On the other hand, some of the smaller coins are having their moment.

Near, Aave, and The Graph are all up more than 8% over the past 24 hours. It's like the underdogs are stepping into the spotlight while the big players catch their breath.

Bitcoin’s price range this morning is relatively tight, indicating lower volatility. After briefly dipping below $63,000 over the weekend, it has bounced back above that level, but just barely. Ethereum, meanwhile, is doing a bit better - up more than 2%, and trading around $2,600.

With the Fear and Greed Index holding steady in neutral, it feels like the markets are still figuring out their next move. Investors are eyeing new consolidation levels, which makes sense given that we just had the first interest rate cut from the Fed in four years. Will we break to new highs, or is the market settling in for a quieter stretch?

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In the Markets

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Total crypto market cap

$2.23 trillion (+1.14%)

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What Bitcoin did yesterday

Daily high $63,998 |  Daily low $62,394

Bitcoin market capitalisation

$1.25 trillion (57% of market)

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Bitcoin 24-hour trading volume

$27.28 billion (+91%)

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SP500

-0.19%

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Fear and Greed Index

50

(Neutral) 

The Fear and Greed Index measures volatility, market momentum/ volume, social media, surveys, dominance, and Google search trends to gauge market sentiment.

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Bitcoin Relative Strength Index (RSI)

63

Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience a correction in price, while 30 or below indicates an oversold or undervalued condition.

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Post Script…

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Cautionary Notes

It’s definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.

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