The price of Solana breaks free from a symmetrical triangle continuation pattern and reclaims a tactically significant moving average. Compound price is consolidating a 170 percent surge by creating the right shoulder of an inverted head-and-shoulders pattern. Meanwhile, Bitcoin’s price is stuck near the lows of the June decline, devoid of any sustained, impulsive bid. Since June 22, the decentralized finance (DeFi) industry has been a trove of interesting trading opportunities. SOL and COMP stand out on the charts for their relative strength and potential to detach from Bitcoin, the main cryptocurrency.
With a stunning decrease of over 7% at the time of writing, Ethereum price has triggered a rising wedge pattern. The reason for today’s drop has been attributed to rumors of a delay for the London hard fork, however the charts previously showed that ETH was headed for a drop. The smart contracts behemoth could drop another 20% based on the price structure rather than hearsay.
At the start of the week, Cardano’s price appeared to be poised for further gains. Today’s mood turned when the US Federal Reserve FOMC minutes revealed market concerns. A retest of $1.28 or a 6.5 percent correction is required by ADA. Cardano’s price started the trading day on Thursday with a few concerns. Following the release of the FOMC minutes on Wednesday, most indices are in the red. Today appears to be a risk-off day for the markets, and ADA is taking the hits./n
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