Gala Games: Hack Attack and Recovery
Gala Games faced a $20 million hack last week, causing quite a stir. The hacker changed his mind and returned the funds, but the damage to market sentiment had already been done. On Monday, Ethereum was back in the spotlight, but the Gala drama added to the overall market volatility.
Shiba Inu dog: a legend of the meme passes
In a more nostalgic twist, the original Shiba Inu The dog that inspired Dogecoin has passed away. A moment of silence for the meme that launched a thousand tweets. Price action? Well.
Market capitalization and technical advances
Last Monday's rally boosted the total market capitalization by a juicy 9.81%. But true to form, prices retreated a bit. Traders got excited about a breakout, only to have it fall back into range. Rinse and repeat.
- Bullish vibrations: Market sentiment showed some bullish flashes. The market capitalization surpassed the crucial trend lines and then fell again as expected.
- Ichimoku Cloud Fun: The Ichimoku Cloud hints at bullish movements. The daily chart of total market capitalization is above the conversion line (Tenkan-Sen).
- RSI Snore Party: The RSI is cooling in neutral to 50, neither too hot nor too cold. A decisive move could be on the cards if we see any real action.
Altcoin Highlights: The Usual Suspects
- Shiba Inu (SHIB): It looks interesting if it can close above 0.00002614 daily. Possible breakout of a bearish pennant pattern.
- Chain Link (LINK): Solid performance after a pivotal win. Closing above $17.55 could shoot it towards $20.
- Cardano (ADA): Showing a bullish engulfing pattern. However, conservative buyers are likely waiting for a confirmed close above $0.50.
So, the cryptocurrency market continues to do its thing, ignoring holidays and traditional market hours. We are seeing some promising technical setups and potential altcoin breakouts. Keep your eyes peeled for those bullish signals and RSI levels.
This is a summary of this update. See you next time and happy trading!
