OVERVIEW

Bulls Bustin Out? 🐕️ 

There are some early signs that the congestion in the crypto market might be nearing its end. And those signs are currently of the bullish variety. 🟩 

In today’s Litepaper, we’re looking at three cryptos showing signs of getting very close to a bullish breakout ($ADA, $ZRX, and $RUNE) and one that is showing signs of some bearish yuckiness ($DOT)

Also on deck is a look at how $ETH’s ecosystem is governed and the SEC’s win vs. loss rate against the crypto industry. 📰

Before we dive in, here’s today’s crypto market heatmap:

And here’s a look at crypto’s total and altcoin market cap YTD:

TECHNICAL ANALYSIS
Three Bulls And One Bear 🐂 

Cardano is looking pretty good here for the bulls - but only if it can blast through its near-term resistance. $ADA is just a hair above the 20-day EMA at $0.463 and a hair below the 50% Fibonacci retracement at $0.465. 👍️

Holy hand grenade of Antioch the daily $ZRX chart looks hawt. 0x opened below the 61.8% Fibonacci retracement ($0.510) and the 20-day EMA ($0.515), then fell below the 200-day EMA ($0.497) earlier today.

Then it bounced off the 200-day EMA and kept moving higher, above the 61.8% Fib and 20-day EMA. Some bulls are ready to charge out of the gate if 0x can close above those levels. 🐂 

$RUNE has a GASP death cross. However, when sellers pushed prices below the 200-day MA ($5.99) on Sunday and prevented them from closing above the 200-day EMA on Monday, things looked pretty damn ugly.

Now things are looking pretty good for the bulls. On the daily RSI, historical support at 42 is holding and giving bulls some needed data to determine if a close above the 20-day ($5.86) and the 200-day EMAs would have enough to juice to keep moving higher. 📈 

That said, not everything looks bullish today. A good chunk of the altcoin market looks like Polkadot’s daily chart.

$DOT is parked inside a bear flag and in between the 20-day EMA ($7.84) and the 200-day EMA ($6.08). Bear flags are bearish continuation patterns, so bulls will want to watch very carefully if DOT begins to test the top of the bear flag channel and the 20-day EMA.

Even if bulls can pull off a close above the 20-day EMA, some conservative bulls will likely wait for evidence of a possible bull trap. 🎯

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