The daily pump & dump is a weekday update on the crypto market providing you with an abbreviated breakdown of price action related to Bitcoin, Ethereum, and other trending altcoins. Today’s summary: Bitcoin reclaims $30,000 over memorial day weekend How Ethereum could lose its head against BTC What’s going on with Cardano? Bitcoin Makes Memorial Day Weekend Memorable Over the US Memorial Day holiday, bulls took advantage of thin order books and low volume, pushing the price per BTC to more than $31,500 at close. Of note, the daily candle closed above the upper Bollinger Band. Bulls must stampede with high volume within the next 24 hours or are at risk of a pullback to at minimum the middle-SMA at around $29,766. Will bulls follow through? | Source: BTCUSD on TradingView.com A strong close above $32,000 could lead to continuation to targets between $34,000 and $38,000. Tonight is also the monthly close for BTCUSD. A close above $29,000 should keep the top cryptocurrency well above support, while closing above $33,000 would be a healthier sign of further recovery ahead. Related Reading | LUNA Aftermath: Total Crypto Market More Oversold Than Black Thursday Ethereum Losing Its Head (And Shoulders) Against BTC The LUNA debacle has significantly hurt altcoin sentiment. The associated selloff and panic took many top altcoins down by 80-90% across the board. Ethereum held up well by comparison to other altco...
