Why is the encryption market today?

The total maximum Crypto (total) and bitcoin (BTC) market has grown over the past day, even with the morale of the public market remaining. SPX has led the document to Ethereum Altcoin Market with two -digit gains over the past 24 hours.

In the news today:-

• ETHEREUM quarterly transactions Revenue decreased by about 95 % of its peak in the fourth quarter of 2021, mainly due to the low contributions of the 2 layer and the decrease in the NFT market activity.
• Avoid the supply chain The attack, which could have had an open source infrastructure. The accident was marked on March 23 by Yu Jian, the founder of SlowMist, citing a report from the Palo Alto Networks 42.

The frightening feeling of the purchase of purchase pressure

The Crypto Fear & Greed Index explains that market morale has been very afraid as traders continue to deal with losses. Today, he is 28 years old, indicating fear in the market. This indicates that investors are cautious because of the recent low prices.

However, historically, fear can sometimes provide opportunities for purchase, as it may indicate a lack of value. Traders seem to benefit from this purchase signal, as shown in the total in the past day.

It has added 98 billion dollars during the past 24 hours, reaching 2.8 trillion dollars at the time of the press. On the daily chart, the positive energy balance (BOP) confirms this increase in the purchase of pressure between the market participants. He is currently at 0.58.

The BOP index measures the power of buyers against sellers by analyzing price movements during a certain period. The positive BOP value such as this indicates that buyers control, which drives prices up and indicates potential upward momentum.

If the buyers unify their control and push the sellers abroad, Total can maintain its upward direction and climb about $ 2.87 trillion.

However, if nails or feelings grow in profit, the total can slip and decrease to $ 2.70 trillion.

BTC retains higher than the main moving average, and eyes $ 89,000 target

A prominent coin currency is trading at $ 87,182, indicating 3 % growth over the past 24 hours. Last week, the BTC has paid the price higher than the 20 -day SIA moving average (EMA), which is now a dynamic support level at 85,047 dollars.

EMA for 20 days measures the average price of the original during the twenty days trading. It gives greater weight to modern prices, which makes it respond to market changes.

When the original is broken over this moving average, it indicates the growth of the bullish momentum and a potential transformation towards the upper direction. BTC It can extend Its weekly gains and climb to $ 89,434 if this trend is preserved.

However, if the purchase pressure is weakened again, BTC can give its latest gains and fall to the support test at $ 85,036.

If the bulls fail to defend this level, the decline It can reach $ 7,7114.

SPX leads market gains with a strong purchase interest

SPX is the best winner in the market during the review period. Trading currently at $ 0.62, an increase of 20 % Last day.

Its height is accompanied by two numbers an increase in the daily trading volume, highlighting the demand for altcoin. The volume of the folder has increased by 112 % over the past 24 hours and $ 34 million at the time of the press.

The increase in the SPX price, accompanied by an increase in the daily trading volume, indicates a strong purchase benefit and confirms the health of the upward step. If this trend continues, the ALTCOIN price may rise to $ 0.67.

On the other hand, the reflection can lead to a decrease of about $ 0.53.