The preliminary result to the lawsuit of XRP and the SEC was released yesterday. The court held that XRP does not meet the characteristics of securities in the secondary market, but meets the HOWEY judgment in the primary market. This result is interpreted as a victory for XRP, but also for the crypto market.
After that, XRP was relisted by the exchange such as Coinbase and pumped. Many tokens that were defined as securities last month followed up. Today we have selected three tokens that were once defined as securities to share. AVAX\USDT, MATIC\USDT, SAND\USDT
The dump on Jun.10 made AVAX to erase the gains of 2023 absolutely. Price rebounded after a few days of fluctuation. Two long green candles took the price back to 15, close to the upper rail of the red zone. The trend turned from bearish to neutral on a large scale. Over the past month, rebound has been accompanied by bearish power (shown by the red arrow), even after rising last week, there are still four days of red candles. The bulls also doesn't have much of a lead on trading volume.
Conclusion: Mostly rising after a callback. The bulls is stronger than the bears, so we believe that the rise will most likely not end. But the red zone has piled up a lot of chips in May and June. We think a pullback is possible without the bears decaying. We set resistance level at 16.3 and support level at 12.1.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
After that, XRP was relisted by the exchange such as Coinbase and pumped. Many tokens that were defined as securities last month followed up. Today we have selected three tokens that were once defined as securities to share. AVAX\USDT, MATIC\USDT, SAND\USDT
The dump on Jun.10 made AVAX to erase the gains of 2023 absolutely. Price rebounded after a few days of fluctuation. Two long green candles took the price back to 15, close to the upper rail of the red zone. The trend turned from bearish to neutral on a large scale. Over the past month, rebound has been accompanied by bearish power (shown by the red arrow), even after rising last week, there are still four days of red candles. The bulls also doesn't have much of a lead on trading volume.
Conclusion: Mostly rising after a callback. The bulls is stronger than the bears, so we believe that the rise will most likely not end. But the red zone has piled up a lot of chips in May and June. We think a pullback is possible without the bears decaying. We set resistance level at 16.3 and support level at 12.1.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.