American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Investing

Celestia, Arweave, Jasmy lead as crypto fear and greed rises

by admin September 24, 2024
September 24, 2024
Celestia, Arweave, Jasmy lead as crypto fear and greed rises

Cryptocurrency prices have pointed upwards in the past few days as the market digest the recent central bank decisions. 

Bitcoin, the biggest crypto in the industry, has held steady above $63,000, although signs indicate its recovery is waning. Similarly, the combined market cap of all cryptocurrencies rose to over $2.2 trillion. 

In the stock market, most indices, like the Dow Jones, S&P 500, and Nasdaq 100, have done modestly well, although the momentum has faded.

Meanwhile, the closely-watched crypto fear and greed index has moved from the fear zone of 33 to the neutral point at 51. 

The key economic numbers to watch this week will be Tuesday’s US consumer confidence and Friday’s personal consumption expenditure (PCE). These are important numbers because they help the Fed to make its decisions.

However, the impact on financial assets like cryptocurrencies, stocks, and forex will be a bit limited since the bank has already delivered its interest rate decision. 

Celestia price has rebounded

Celestia (TIA) is a leading blockchain project that is helping developers build projects effectively. It provides modular data solutions that help them scale their applications with time. 

The TIA token peaked at $21 in January and then retreated to a low of $3.7. This retreat was mostly because of the weakness in the crypto market and the slow growth of its modular data platform.

Most notably, traders sold Celestia because of its dilution potential. Numbers show that Celestia has over 212 million in circulation and a total supply of over 1 billion tokens. 

This means that there will be big token unlocks for a long time. In October, the network will unlock over 175 million tokens, representing 16% of all coins. In most periods, cryptocurrencies often tumble when there is such a big unlock.

In some instances, however, as we saw recently with Immutable X, a token can surge after a big unlock. This typically happens when a network has some important internal catalysts.

On the positive side, Celestia has formed a triple-bottom pattern at $3.78. In price action analysis, this is usually one of the most popular bullish patterns in the market.

It has also jumped above the 50-day Exponential Moving Average (EMA). Therefore, Celestia will likely continue rising as bulls target the next key resistance point at $7.70, its highest point on July 22. 

Arweave futures open interest rises

Meanwhile, the Arweave token has rebounded sharply in the past few days, helped by the soaring futures open interest. This interest has risen to $87 million, its highest point since June 7 and higher than this month’s low of over $46 million. 

Arweave token bottomed at $16.26 in August and has bounced back by over 41% to the current $22.8. It has flipped the important resistance point at $21.43 – its April 13 low – into a support level.

Arweave has also jumped above the 50-day moving average and is attempting to flip the 200-day moving average.

Therefore, the outlook for the token is neutral with a bearish bias. If this happens, the token may resume the downward trend and retest this month’s low of $17.85. 

On the other hand, a move above the 200-day moving average will point to more upside as bulls target the next important resistance level at $25. 

Jasmy price analysis

Jasmy is one of the most popular cryptocurrencies in the industry. It is often seen as Japan’s Bitcoin because former Sony executives founded it. 

Jasmy token surged to a high of $0.044 in June and then retreated sharply to a low of $0.015 in August. Most recently, the token’s open interest has bounced back, rising from this month’s low of $22.7 million to over $33 million.

Jasmy has rebounded and invalidated the dangerous death cross pattern that was about to form. A death cross forms when the 200-day and 50-day moving averages cross each other while pointing downwards. It has also moved above the two moving averages. 

The Relative Strength Index (RSI) has continued rising and has crossed the neutral point of 50 while the MACD indicator has flipped the zero line. 

Therefore, Jasmy has more upside, with the next point to watch will be at $0.027, its highest point on March 4th. This price is about 23% above the current level.

Technically, Jasmy, Celestia, and Arweave prices will react to what Bitcoin does from here. The coin initially jumped to a high of $64,540 after the Fed decision but there are signs that the momentum has faded. 

On the positive side, it has invalidated the death cross pattern and moved above the 200-day and 50-day moving averages. On the other hand, it has formed a double-top chart pattern. 

Therefore, if Bitcoin rises and flips the double-top point at $64,540, it will point to more upside, which will benefit these other coins.

The post Celestia, Arweave, Jasmy lead as crypto fear and greed rises appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
Red alert as Rolls-Royce share price forms bearish divergence
next post
Crude oil price rebound could be short-lived: technical analysis

Related Posts

Oil and Gas Price Update: Q2 2024 in...

August 2, 2024

Many Peaks Minerals

April 16, 2024

Best crypto to buy as the fear and...

May 16, 2025

Will the falling Hims & Hers stock price...

December 23, 2024

Microsoft downgraded by DA Davidson citing AI competition:...

September 24, 2024

FTSE MIB index analysis: here’s why Italian stocks...

March 7, 2025

Uranium Price Update: Q1 2024 in Review

April 11, 2024

IWM ETF hits ATH: Here’s why Russell 2000...

November 26, 2024

Is Blackstone Secured Lending Fund (BXSL) a good...

October 12, 2024

DocuSign stock price forecast: could explode higher after...

March 11, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • Interview: Strategic location gives Brazil Potash cost advantage in domestic fertiliser market, says CEO Matt Simpson

      June 1, 2025
    • Canada’s Q1 GDP expands by 2.2%, driven by exports spike ahead of potential US tariffs

      June 1, 2025
    • President Trump to host farewell for Elon Musk as DOGE leader steps away

      June 1, 2025
    • UK’s digital banks face divergent fortunes: Starling stumbles, Monzo and Revolut soars

      June 1, 2025
    • Trump wants Apple to shift iPhone production from India to the US: here’s what it means

      May 18, 2025

    Categories

    • Business (3,012)
    • Investing (2,455)
    • Latest News (1,994)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved