Bitcoin Briefly Surges to $80,635 Before Sharp Drop
- Price Volatility Analysis: Bitcoin briefly surged to $80,635 in the past 24 hours, generating optimism among investors; however, it quickly lost momentum and fell back, highlighting market instability and fragile investor sentiment.
- Macroeconomic Impact: The U.S. decision to pause interest rate cuts has left macroeconomic factors unable to support the crypto market, and if inflation accelerates or job data remains strong, it could further drag down crypto prices, necessitating close monitoring of key data release schedules.
- Upcoming Data Releases: This week features several important economic data releases, including the non-farm payrolls on May 8, expected to drop to 65,000; if results align with expectations while inflation rises, it may bolster the Fed's confidence in keeping rates steady, which could pressure cryptocurrency prices.
- Geopolitical Risks: Reports from Iran indicate that two missiles were launched at a U.S. ship that ignored prior warnings, and this geopolitical tension could exacerbate market volatility, prompting investors to remain vigilant regarding the potential impact of these external risks on the crypto market.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR). As of , Major (MAJOR) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MAJOR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, MAJOR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0375 | 0.0469 | 0.0536 | 0.063 | 0.0697 | 0.079 | 0.0858 |
| Fibonacci | 0.0469 | 0.053 | 0.0568 | 0.063 | 0.0691 | 0.0729 | 0.079 |
About MAJOR
About the author
