• For this week it is good to keep your eyes open on Alice, Brise, Pyr, Rune and Lido, according to data from CoinMarkercal and Criptonoticias.
• Data shows initial growth in market volatility, with expectations of recovery in the medium term.

Report from Coindesk says that major cryptocurrencies traded flat over the weekend, with alternative tokens showing muted price movement as markets seemed to stabilize following one of the largest liquidation events in recent months. Bitcoin remained steady at around $26152.41 with Ethereum little changed from Sunday’s $1672.54. 

Meme Coin shiba inu (SHIB) slid 2%, increasing losses to more than 21% in the past week following the botched launch of its Ethereum layer 2 network, Shibarium. Transactions stalled in the hours after the network went live last Wednesday, with over $1.7 million worth of tokens in a bridge – a tool used to transfer tokens between two blockchains – said to be stuck owing to a bug in the code.

Open Interest And Altcoins To Watch

On the other hand, data from Kaiko shows that inflows into Bittcoin derivative markets also accelerated in the second half of June. Bitcoin perpetual futures open interest aggregated on five exchanges hit its highest level since the collapse of FTX in July of nearly $9bn.

However and it wrote the firm, the wave of liquidations last week wiped out most of the post-ETF filing increase with the amount of open contracts dropping by 20% to $7bn on August 17. Bitcoin funding rates also turned deeply negative, falling to their lowest level since March.

Santiment opinions say that after cryptocurrency market caps plummeted across the industry last week, several altcoins are making a comeback, most notably Litcoin, Ripple and Stellar. With market capitalization to realized value metrics continuing to show traders are down, don't be surprised if the trend continues this week.

New Loan Feature

On August 14, RUNE was trading at USD 1.39 and yesterday, Sunday, it reached its highest price (USD 1.88) since last February, when it reached USD 1.95, according to Criptonoticias.

The growing appreciation of the cryptocurrency seems to be related to the launch of a new feature called THORFi Lending, which offers users the ability to borrow bitcoin (BTC) and Etherum (ETH) without interest.

Technically Rune and according to weekly parameters, this cryptocurrency must overcome the $1.797 resistance to continue its upward trend, and where there is a very strong selling force.

Breaking this barrier may look to touch the 100-period weighted moving average near $2.113 and test median resistance at $2.351 for the medium term.

Otherwise, it could hit the 0.6 Fib again at $1.598 or maintain an accumulation trend in this region. But momentum indicators suggest a continuation of the positive trend in the direction of the bulls. We believe that even the alligator will take the bait.

Overcoming the price of $2.619, Rune could in the long term reach the exponential moving average of 100 periods very close to $2.885 and if there is an aggressiveness to buy it can look for the simple moving average of 100 periods around $3.632. That would cause the cryptocurrency to appreciate more than %38.40% after the aforementioned resistance was broken.

Consolidation Zone

ALICE plunged below its two-month consolidation to sweep its lows.

The price retested $0.7840, near the consolidation's lows. Bulls rejected bears near this level during the week of June 5th, which could cause it to continue providing resistance. It also overlaps with the 50% extension of the June 28th to July 1st stop run.

If the bulls can reclaim this level, a daily gap near $0.8600 might be the target. This level is also near the middle of last week's drop.

The price found support near $0.7316, where bulls rejected bears on the daily chart at the end of last week's down move. The area between this level and the midpoint of Thursday's candle tail at $0.6896 may provide support again on a retest. 

Thursday's release of details for the upcoming alpha season three, beginning on August 29th, could help create buyers to hold this support.

A break of this possible support might aim for approximately $0.6350, near the 100% extension of the June 28th to July 1st stop run.

Silent Correction

Since Ethereum launched the staking option, a strong project that stipulated ways to accumulate ETH for this process was Lido. Currently this project and according to weekly technical parameters, lost the support of $1.827, very important in the case of bulls.

The fall in market prices last week made Lido (LDO) break the 50-period exponential moving average at exactly $1,816. Such a fact led the cryptocurrency to have a weekly close below $1.381.

If the market again suffers a liquidity reaction in favor of the bears, Lido could return the average of the price channel between $1.488 and $1.449. The break of that support could trigger sales up to $1.19 and with an approximate devaluation of 18.57%.

On the bull side, the most crucial and perfect entry is above $1,937. But the price channel between $2.3395 and $2.446 is a strong area where a brute force breakout of resistance should occur. Only then, LDO could reconsider value up to the psychological price of $3.1.

Last article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Rubikkav.

Follow more market news and analysis on our main social networks: Wubits, Twitter, Facebook and Telegram.

In case you want to carry out crypto donations, you can do it in rubikkav.nft and rubikkav.cb.id wallet respectively. Your contribution helps further expand this project and reach more people who need a reliable and legitimate source of information.

Trade Binance Futures and Bybit automatically using artificial intelligence with the Cornix Bot. Win 15 days trial now here 👉🏼 https://t.me/cornix_trading_bot?start=ref-195e1582c11e4b7c99b3a35ff4fd4703.

If you have an article that can enrich our community or an advertising piece for a cryptocurrency-based project or product, please write to this email [email protected] or contact support directly on Telegram.

See our premium services at Registrations For New Premium Members Are Officially Open.