Iran-Israël Cease Fire Announcement shifted the market sentiment from Fear (37) to Neutral (47), so that a broad crypto recovery was fueled
Crypto Majors XRP and ETH each jumped above 6%.
But Meme Coins SPX6900 and Dogwifhat show much more explosive profit, with room to be performed on the basis of trade data.
The Cryptomarkt broke out today in a assistance when President Donald Trump claimed a complete stop fire between Iran and Israel, which caused a general marketbound while the global tensions seem to fade.
The oil prices fell 2.92% in which Brent -Ruwe Oil dropped to $ 69.39 as tensions in the middle east and analysts refused a shortage of supply. In the meantime, S&P 500 futures climbed 0.58% to 6,112 and the dollar index fell by 0.32% to 98.10. The rotation of the risk saw gold withdrawing as the demand for safe haven decreased. Golden prices fell 2% to $ 3,315.8 per oz, where investors of defensive positions rotated to crypto playing with a high beta and risky assets such as shares and ETFs.
The market capitalization of cryptocurrency increased by 2.9% to $ 3.23 trillion, with Bitcoin climb from 3.6% to $ 105,471 and Ethereum Spread from 6.5% to $ 2,422. The wider recovery saw altcoins Outpesting, with XRP Achieving 8.1%, while nearly 30 of the top 100 coins saw a double digits increase, with Sei being the top performance, 46.5% to $ 0.2855.
And, of course, Meme Coins kept even harder when they spiked more, eh, traditional Altcoins.
SPX6900: Technical breakout gives more upside down
DMEME coins are usually fleeting and unpredictable, but according to the graphs of SPX6900’s explosive 28% rally up to $ 1,3476 comes with a mandatory technical confirmation. The average directional index that is also known as ADX at 35 indicates strong trend conditions – reading above 25 confirm -established trends, which suggests that the current momentum has legs. Traders can interpret this as a special bullish, because it shows that the upward movement is not only a short peak, but part of a persistent directional movement.
The relative strength index or RSI (a thermometer that measures how sold or overbough is an active one), is at 56, where the token is placed in the “power zone” where the momentum is strong but not yet overbought. Historical data shows that meme coins are often performed until RSI reaches 75-80, which suggests that about 20% extra upward potential before exhaustion. The 50-day EMA (the average price in the past 50 days) for $ 1.07 now offers dynamic support after he has removed resistance during the outbreak.
The most striking thing is that the Squeeze -Momentum indicator shows “on” status in a bearish movement, which indicates volatility compression that usually precedes explosive movements. When this indicator fires after a period of consolidation, traders often see 30-50% movements in both directions. Combined with today’s volume wave of 96.8%, the set -up of the $ 1.51 resistance level that was tested in mid -June.
Key levels:
Immediate support: $ 1.24 (the Breakout point of today)
Strong support: $ 1.07 (50-day EMA)
Immediate resistance: $ 1.51 (23.6% Fibonacci)
Strong resistance: $ 1.73- $ 1.77 (all time high zone)
Dogwifhat (WIF): Short Squeeze Fuels Recovery
Dogwifhat (WIF) Theater data. Image: TradingView
The Dogwifthat Meme Coin, which acts as WIF, today dived 23% to $ 0.8740. That is a victory for the WIF traders who study graphs, while token renovates the level of $ 0.79, a former support zone that had covered prices since the beginning of June. Moreover, this movement has activated $ 3.71 million in short liquidations. This kind of flip of resistance to support often marks the start of persistent uptrends. In other words, it is a good sign for the spot price of the currency to get higher than the average price in the last 200 days. Perhaps not completely bullish, but still a recovery of the heavy price fall.
The RSI at 52 presents an interesting setup, because it is almost perfectly neutral territory that offers maximum flexibility for the next movement. In contrast to Overbought conditions that limit the top, this balanced reading means that WIF has room to walk when buying pressure continues. The ADX at the age of 17 shows that the Bearish trend is now weaker and gives room for a short to medium term strout if the Munt Momentum can keep track of and this is not just a hype episode.
For traders, the person with regard to signal can be the EMA configuration, with the 50-day average below 200 days in a “Death Cross” formation since January. However, today’s increase brings price promotion closer to challenging the 50-day EMA around $ 0.91. A decisive break above this level would shift bullish and potentially trigger algorithmic of trend-following systems in the medium term.
