According to recent data from Glassnode, Bitcoin exchange inflows have reached their highest levels in a month, indicating increased selling pressure as the price of Bitcoin falls below $26,000. On August 16, the one-day moving average of Bitcoin’s exchange net flow reached $9.75 million, marking the highest level seen in the past month. Additionally, Glassnode reported that the amount of Bitcoin sent to exchanges recently hit a four-month high of approximately 370 BTC.
While Bitcoin’s price has been declining, some cryptocurrencies are experiencing gains. If you’re interested in knowing the biggest crypto gainers today on DEXTools, the top performers are PARROT, ANUBIS, and SOJU. PARROT has seen a significant surge of 1,490.71%, ANUBIS has gained 68.13%, and SOJU has surged by 1,674.24%. These cryptocurrencies have shown impressive price movements despite Bitcoin’s lackluster performance.
It’s important to note that investing in cryptocurrencies carries risks, and it’s crucial to conduct thorough research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and prices can fluctuate rapidly. It’s advisable to consider factors such as the project’s fundamentals, team expertise, market trends, and risk tolerance before investing.
PARROT, the meme coin, has experienced a remarkable rise of 1,490.71%. However, it has faced selling pressure, bringing its price down to the current level of $0.0000005557. The technical indicators for PARROT suggest a bearish trend in the short term, with the 20 EMA at $0.0000007055 and the 50 EMA at $0.0000006387. The RSI is currently at 40.82, indicating a balanced market.
ANUBIS, after a surge of nearly 1,300%, continues to chart an upward trajectory with an additional gain of 68.13% today. However, it has seen a retracement from its intraday high of $0.0001839 to the current level of $0.0001330. Technical indicators for ANUBIS suggest a potential bearish trend, with the 20 EMA slightly above the current price and the 50 EMA slightly below. The RSI is at 45.49, indicating a neutral market condition.
SOJU has witnessed a surge of 1,674.24% today, reaching an intraday high of $0.009952. After a period of retracement, it is now consolidating above a horizontal support zone between $0.003532 and $0.003829. The technical indicators for SOJU suggest a mild bearish bias in the short term, with the current price below the 20 EMA and 50 EMA. The RSI is at 47.19, indicating a neutral market condition.
It’s important for traders to closely monitor these cryptocurrencies and observe how they behave at critical support and resistance levels. Depending on their ability to maintain support or break through resistance, we could see a continuation of the current trends or potential reversals. As always, it’s advisable to exercise caution and make informed decisions when investing in cryptocurrencies.