Crypto Price Analysis July 4: RUNE, AVAX, MATIC, KAVA, CVX
In This Article:
Key Insights:
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THORChain’s RUNE was one of the best performing assets yesterday, with an 11% rise.
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Convex Finance’s CVX recovered from the week-long red candles marking a 14% recovery.
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Bitcoin and Ethereum recovered from the lows of $19k and $1k as well.
The broader market gained more than $40 billion in the last 24 hours alone, thanks to the altcoins, which kept other cryptocurrencies afloat as well.
The king coin and the altcoin king rallied on the back of this rise, providing relief to their investors.
THORChain (RUNE)
RUNE rose by 11% in the last 24 hours and reclaimed the $2 mark after losing it to the 26.03% dip over the week. This added to the almost 24% rally it noticed in the previous three days.
The Awesome Oscillator does indicate rising bullishness which means that this rally might not be short-lived after all.
Avalanche (AVAX)
The DeFi token was also a victim of the recent dip, which invalidated 24.6% of the recovery AVAX made in June but the 13.68% rise observed since July 2 will push the altcoin towards $20.
The Bollinger Bands do not indicate any significant price swings at the moment, but with the candlestick above the bias, the price momentum will be positive.
Polygon (MATIC)
MATIC was one of the few altcoins not to lose a lot during the recent dip, thanks to its 75.64% recovery rally, which kept the crypto above $0.4.
Rising by 10.37% in the last 72 hours, MATIC is noting organic growth thanks to the consistent inflows from the investors, as observed on the Chaikin Money Flow (CMF).
KAVA (Kava)
Although KAVA did not make a lot of growth this week, it kept its users from losses by only sinking by 10.61%. The cryptocurrency is keeping its 31.22% recovery primarily intact.
This is despite the fact that on the MACD, the momentum is shifting in favor of bears, however, a bearish crossover hasn’t taken place yet.
Convex Finance (CVX)
CVX was one among the few to decline the most in the last week after falling by 28% in the span of just four days. Following this, however, the altcoin managed to rise by 35.69% to trade at $4.878 at the time of writing.
The Relative Strength Index is yet to reach the bullish area, which has been kept from CVX for almost three months now.
This article was originally posted on FX Empire