- The annual inflation rate of the Tectonic crypto is exceptionally high.
- TONIC crypto has witnessed a massive decline in its trading volume over the last 24 hours.
Tectonic is a cross-chain money market offering passive yield and instant-backed loans. Founded by Gary Or, it’s incubated by Particle B on Cronos. Unique features include variable interest rates, liquidation mechanisms, and community insurance. Investors can earn interest, traders access liquidity, and users can participate in IDOs without selling collateral.
Tectonic crypto is two years old and has 38.03K holders. It further has a liquidity of $880.29K, and the market cap of the crypto is $31.61M. Also, the crypto market cap ranking is #748, as per CoinMarketCap.
The market cap of the Tectonic has further advanced by 2.5% in the last 24 hours, which further results in a decline of 60%, resulting in a traded value of $109K. Moreover, the crypto’s volume/market cap ratio is 0.34%.
The crypto sentiment is bearish, followed by a medium volatility of 2.83%. The supply inflation of the crypto is 2034%, and the fear and greed index of the crypto is at 74, showing greed.
The current circulating supply of the Tectonic crypto is 49.55% of the maximum supply, resulting in 247.733T TONIC. Also, the total supply and the maximum supply of the crypto are the same, resulting in 500.0T TONIC. Furthermore, the fully diluted market cap of the crypto is $63.165M.
The total locked value of the crypto is $137.52M, and the token borrowed is worth $89.57M, as DefiLlama.
TONIC Crypto Technical Analysis
The TONIC crypto price is traded in a dynamic range, followed by a symmetric triangle pattern formation. The price of crypto is currently taking support at the lower dynamic trendline.
The candlesticks formed on the crypto chart also support a bearish momentum, which shows the possibility of a breakdown in the crypto price. If the cost of the crypto further breaks below the pattern, a strong declining momentum in the crypto price might be seen.
TONIC Crypto Technical Indicator Analysis
The crypto price trades below the 50-day and the 200-day EMA, followed by a bearish crossover. The following behavior represents the strong dominance of sellers in the crypto.
The RSI has also declined to the oversold zones, followed by a bearish cycle on the crypto chart. This denotes weak momentum in the price of the crypto. Also, the RSI consistently sustains below the 50 level and has declined from the overbought zones.
The MACD and the signal line are facing rejection from the zero level and are declining to further lower levels, followed by a bearish crossover. The histograms on the daily crypto chart also support the weakness in the crypto price.
Summary
The Tectonic crypto, with features like variable interest rates and community insurance, faces a potential breakdown below a symmetric triangle pattern. Annual inflation is high while trading volume declines. TONIC’s price trades below key EMAs, with RSI in oversold territory, indicating strong seller dominance and potential further decline.
Technical Levels:
- Support levels: $0.000000084 and $0.000000010
- Resistance levels: $0.0000000250 and $0.0000000390
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.