Bullish divergence: Crypto market with potential reversal ahead
The cryptocurrency market is heating up after nearly two months of a downtrend as bullish divergence s surge as signals of a possible reversal . Finbold has gathered data on May 10, identifying these signals to help crypto investors navigate these times. Notably, TradingView ‘s total crypto market cap index is now valued at $2.19 trillion, testing a short-term uptrend support. Since April 12, the index has traded below the 30-day exponential moving average (30-EMA), creating resistance at $2.285 trillion. A breakout from this level could propel the market to this year’s highs at $2.72 trillion. Moreover, its downtrend has been since March 14 but could soon be challenged by growing momentum. The daily relative strength index (RSI) signals this possible reversal by breaking out from its downtrend in a bullish divergence. Picks for you Optimism surges as India reopens doors to offshore crypto exchanges 1 hour ago What would happen if we returned to the ...