Biggest Crypto Gainers Today on DEXTools – XELON, PMR, EMOTI
Bitcoin is up against increasing bearish sentiments this week, just days after attempting to push past $30,000. Crucial technical markers are signaling further downside potential for the cryptocurrency over the near and medium terms.
With this in mind, what are the biggest crypto gainers today on DEXTools?
According to an analysis from TradersWeekly, caution should be exercised when evaluating Bitcoin's latest price action. Following a brief period of relative stability over the extended weekend, Bitcoin remained largely stagnant, with prices hovering around $26,000.
The analysis highlighted that after briefly rising above $28,000 last week, Bitcoin's technicals have turned bearish again.
The weekly timeframe also shows expanding negative momentum, with key indicators like the MACD, RSI, and Stochastic Oscillator pointing down. Of particular concern is the MACD indicator, which currently hovers just above the midpoint.
TradersWeekly cautioned that a sustained decline in the price of Bitcoin could serve as a precursor to an array of challenges in the future. There are expectations Bitcoin's price may dip below $24,000.
"Our perspective has not changed since the previous update on Bitcoin. We expect further declines over the short and medium terms, with a potential slide towards the $24,000 area," the TradersWeekly analyst stated.
Another worrying sign is waning interest from large investors. The number of Bitcoin addresses holding 1,000 or more coins has fallen below levels seen before last week's price spike, which analysts see as fading interest at current prices.
While Bitcoin briefly climbed after a U.S. appeals court directed the SEC to reevaluate its decision on a Bitcoin ETF, the cryptocurrency has since slid back into the
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