The first half of 2022 was one of the worst periods for cryptocurrencies. Major currencies like Bitcoin and Ethereum have had a 40% to 50% decline since the beginning of 2022. Overall, this year’s cryptocurrency markets have plummeted by more than 50%.
Financial assets often experience a bear market when their value drops by more than 20% from previous all-time highs. This classification states that since the beginning of April 2022, cryptocurrency has been in a bear market. Many individuals are making predictions on when the bear market will end and whether the top coins will be able to surpass their prior highs.
With a 60% price gain following the conclusion of its first presale round, Gnox, a groundbreaking platform created to automate and simplify DeFi investing, defies the bad market.
The token’s price has increased by more than 60%. When supply is limited and demand is stable, as it was in the case of GNOX, prices rise.
Cryptocurrency experts attributed this price increase to the coin’s strong development and exceptional presale success.
Gnox announced a huge token burn event after the initial presale round was finished, during which more than 2.5 billion tokens were burned.
Ethereum (ETH), Shiba Inu (SHIB), and Cardano (ADA) are all indicating a bullish reversal
Ethereum is taking a bit of a breather after the cryptocurrency market’s extended downward spiral. The altcoin king dropped below $1,000 for the first time since January 2021 between 18 June and 19 June.
Although ETH has recovered slightly above the $1,000 price level, concerns that the bears might continue their assault still exist.
Meanwhile, Shiba Inu is showing bullish reversal signs inside a long-term horizontal support area. However, the potential reversal has not been confirmed yet.
The price has been trading near the $0.000007 support level since 2021.
The weekly RSI is bearish even though the price is close to this support level because it is below 50 and decreasing, showing that the trend is still bearish.
Lastly, ADA’s bullish pattern is declining and giving negative indications. More crucially, the RSI’s declining trendline remains intact, indicating that the trend is bearish.
Learn more about Gnox:
Join Presale: https://presale.gnox.io/register
Website: https://gnox.io
Telegram: https://t.me/gnoxfinancial
Discord: https://discord.com/invite/mnWbweQRJB
Twitter: https://twitter.com/gnox_io
Instagram: https://www.instagram.com/gnox.io
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
