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- 【Gate Daily Market Digest】📊
Unlock today’s key crypto market insights at a glance!
Top Gainers⭐️ $SNAKEAI $YBDBD $BASEPTL $FPFT $TMAI
Trending Coins🔥 $YBDBD $LAUNCHCOIN $SPX $MIRAI $ANIME
#FearGreedIndex# #TopGainers#
- #May CPI Incoming#
This Wednesday, the U.S. will release May CPI data — a key test for rate cut expectations. Cleveland Fed forecasts 2.4% YoY CPI (up from 2.3%), with core CPI flat.
💬 If inflation beats expectations, will the Fed still cut in June? Will you stay on the sidelines or take early action?
#Tech Giants Eye Stablecoins#
Apple, Google, Airbnb, and X are in talks to integrate stablecoins into their payment systems, aiming to cut fees and streamline global payments. Following Circle’s IPO surge, stablecoins are quickly gaining traction across tech and finance.
💬 Could stablecoins be - Trading Myth vs Reality: Rising Wedge
❌ Myth
"A rising wedge is a bullish signal; buy immediately once the pattern completes."
✅ Reality
Proper rising wedge trading requires confirmation:
1.A clear break below the lower line (2 confirmed closes)
2.Volume increase on the break
3.A pullback that doesn't break above the lower line
💡 How to trade correctly:
· Wait for the pullback after the break
· Set stop-loss above the upper line
· If price breaks above upper line, volume must confirm or it's a false breakout
- What are Gate Post Ambassadors? One article guides you through the responsibilities and benefits of being a Gate Post ambassador!👇️
Algorand (ALGO) To Rise Higher? Key Breakout Retest Signals Potential Upside Move
Date: Sun, June 08, 2025 | 03:10 PM GMT The cryptocurrency market is bouncing back strongly after Thursday’s sharp sell-off, which briefly dragged Bitcoin (BTC) to a low of $100,430 and Ethereum (ETH) to $2,387. However, the tide has turned—BTC has reclaimed levels near $106,000, while ETH has recovered to around $2,510. This broader rebound is now lifting sentiment across altcoins, including Algorand (ALGO). However, $ALGO is still trading in the red, and but now a closer analysis of the chart reveals that the asset may be preparing for its upward movement following a breakout and successful retest.
Source: Coinmarketcap Falling Wedge Breakout and Retest On the 4-hour chart, ALGO recently broke out of a falling wedge pattern, which had kept its price locked in a steady downtrend since late May. The breakout occurred on June 7, when ALGO managed to push above the upper boundary of the wedge and touched a local high of $0.1936.
Algorand (ALGO) 4H Chart/Coinsprobe (Source: Tradingview) But the momentum was short-lived as the broader market faced a temporary dip, pulling ALGO back down for a retest. This retest landed right on the former resistance-turned-support trendline near $0.1862, and impressively, the bounce held. ALGO has now reclaimed levels above $0.19 and is attempting to break past its next key hurdle—the 50-day moving average and the previous high around $0.1936. If this momentum continues, the next targets would be the $0.2031 zone and then the 200-day moving average at $0.2161. A move toward this level would represent a 13% upside from current prices and could confirm the end of the downtrend structure that dominated the past two weeks. What’s Next for ALGO? ALGO is currently at a technical crossroads. If it successfully clears the $0.1936–$0.20 resistance, backed by strong volume and a broader market push, the next leg toward the 200-day moving average could play out swiftly. As long as ALGO holds above its breakout level and benefits from overall crypto market strength, the bullish scenario remains in play. Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.