Testing support prices

Week in which the main cryptoassets have significantly tested the support areas. You can detect a certain uneasiness in the market. The remarkable fact is that we have seen actions of the strong hands in the minimum test in the case of Bitcoin, as shown by the Koncorde indicator, which allows us to see the movements by type of operator.

This data is extrapolated from market movements and prices, but we can see how in the last third of the weekly period, the activity of large operators has increased significantly

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We will be very attentive during today’s session, with the expiration of the options. Almost 100 billion USD are expected to be settled during the day, something that could be decisive for the price evolution. It should be noted that this amount of open positions has been reduced considerably in recent days, as has been customary

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The monitoring of the futures market offers us important information about the future valuation of an asset

Nervousness in the market

The market shows a certain instability with the appearance of sales as soon as we see a minimally bullish momentum. This is keeping the price set at the support levels and preventing a normal development of a bullish momentum.

DeFi. Settlement of benefits

The closest definition to define the evolution of the decentralized finance ecosystem this week would be profit realization. Finally, assets that have risen against the market, such as Avalanche (AVAX) and elRond (eGOLD), have made corrections in the last half of this period.

BAT, the Brave browser token, has been one of the most prominent with a significant price increase just at the time it launched its new wallet integrated into the browser, compatible with the Ethereum network

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We continue to see volume increases in successive support zone tests, but it is also true that price is moving into a dangerous zone for shorter-term bulls.

The loss of the current supports could cause a lateral movement that would delay in time a new bullish momentum. You have to be very aware of the price at these levels

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