World Cup Drives Explosion in Prediction Market Activity
- Surge in Trading Volume: According to CryptoRank, the trading volume in prediction markets skyrocketed from $65 million on June 1 to $5.6 billion by June 22, illustrating the immense impact of the World Cup on market activity.
- Platform Performance Disparity: Kalshi dominated June's trading activity with an open interest of $1.84 billion, while Polymarket held $390 million, reflecting the varying appeal of different platforms during the World Cup.
- Significant User Growth: BitMart reported a 1,500% increase in prediction market volumes since the World Cup began, with active users rising 4.6 times, showcasing the strong attraction of football markets for new users.
- Optimistic Market Outlook: Multiple research institutions project that global trading volume in prediction markets could reach $10 billion, indicating substantial growth potential in this sector, particularly on centralized platforms.
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Technical Analysis for X
Technical Sentiment Analysis for X Empire (X). As of , X Empire (X) 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 X 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, X 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 $-.
X Empire (X) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00000378 | 0.00000697 | 0.00000891 | 0.0000121 | 0.000014 | 0.0000172 | 0.0000192 |
| Fibonacci | 0.00000697 | 0.00000893 | 0.0000101 | 0.0000121 | 0.0000141 | 0.0000153 | 0.0000172 |
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