Assets

Altcoin season is long over before it ever truly started. Unlike previous cryptocurrency bull markets, the crypto industry only saw a handful of mega performers.

GNT, ICP, and MATIC have been exceptionally positive as cryptocurrencies trade in bullish trend zones. Altcoins are still dealing with selling pressure as they consolidate above moving average lines. AAVE and CRV are fluctuating between the moving average lines as the bulls try to break out to the upside.

Black Hat hackers are actively exploiting the cryptocurrency industry and its vulnerabilities. In the second quarter of 2022, the total loss of crypto projects due to hacks and fraud amounted to $670,698,280.

Bitcoin (BTC) price is in a downward correction as it struggles to break the 21-day line SMA.

Are you one of those lucky dogs who just decided to stake crypto recently and found themselves in the avalanche of crashing crypto assets? The cryptocurrency market has always been subject to high volatility, but it’s crazy how rapidly the numbers are going down each hour. Both crypto experts and newbies are following the latest news, all stunned by how drastic the changes have been lately.

The crypto market has been in a brutal downtrend, which means there is widespread fear and a strong hesitation to reenter positions. Some investors lost significant capital during the drawdown and could have less money to risk at this time. Others might simply want to see more of a recovery from the asset class before going long.

The cryptocurrencies below have picked up another round of selling pressure. The upside corrections led to further downside in altcoins. The resistance levels posed a challenge to the recovery of the altcoins.

Cryptocurrencies have regained bullish momentum after rising above their previous lows. The bullish momentum has stalled after breaking above the 21-day line SMA. Altcoins failed to continue their upward movement as they failed to break through the next resistance levels.

PrimeXBT is a brand making waves recently, letting traders short Bitcoin and the stock market during the recent downtrend while still allowing them to go long when the market is ready to rebound.