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Bitcoinist
Bitcoinist
Bitcoin Bullish Signal: Inflows To HODLer Wallets Hit ATH
4 days ago
CryptoSkullGroup
CryptoSkullGroup
followers

Bitcoin: Fake Out Signal - Watch Out Bears! Bitcoin has been trading within a well-defined range since a week. A few days ago, the range has set a clear low around 50.600$. My expectation is, in case the yellow support area will fail, that BTC will make a fake out to trick the bears. Longer-term time frames are still overly bullish, so the path of least resistance is up at this point. Ideally, we will see an hourly oversold reading on the RSI, which would further strengthen the bullish fake-out case.

4 days ago
Crypto Breaking
Crypto Breaking
followers

Data shows social media users aren’t yet showing FOMO around Bitcoin, a sign that the current rally could still have the potential to continue. Bitcoin Social Volume Hasn’t Been Too High Recently According to data from the analytics firm Santiment, the crowd FOMO that may be associated with a rally like BTC has seen recently hasn’t yet cropped up on social media. The indicator of interest here is the “Social Volume,” which keeps track of the total amount of discussion any given topic or term is receiving on the major social media platforms right now. The metric measures this by counting up the posts/threads/messages that are making at least one mention of the given term. The reason it tracks the number of posts themselves rather than the mentions is so that a few threads with a significant number of mentions can’t skew the indicator by themselves. When a topic truly receives widespread attention on social media, a large number of posts crop up as users across the platforms participate in talks. Mentions, on the other hand, can sometimes spike just because some niche circles decide to discuss the term. As such, measuring Social Volume through posts is what provides a better representation of the general trend being followed. Now, here is a chart that shows the trend in the indicator for terms related to Bitcoin and cryptocurrency: The value of the metric seems to have been subdued in recent days | Source: Santiment on X As displayed in the above graph, the Bitcoin Social Volume hasn’t been too out of the ordinary recently, despite the sharp rally that the asset’s price has witnessed. Generally, the indicator tends to rise as rapid moves in the cryptocurrency take place since users get spurred to talk more about the coin. When discussions rise too high, though, it’s often a sign that FOMO is increasing in the sector. Historically, Bitcoin has tended to move against the expectations of the majority, so such a rise in FOMO has often resulted in top formations for the asset. When discussions rise alongside a drawdown instead (that is, a signal that FUD is going up), a bottom rather takes place for the coin. From the chart, it’s visible that last month, the indicator registered a spike around the time of the spot ETF approvals, which coincided with the top, but such FOMO hasn’t reappeared for the coin yet. “Despite Bitcoin’s +74% price rise in 4 months, the crowd FOMO that would normally be associated with this kind of surge has not been present,” notes the analytics firm. “There was certainly an interest in BTC in the weeks directly before and after the SEC’s approval of 11 ETF’s, but the lack of new greed in the space can actually be considered a promising sign that this rally can continue,” explains Santiment. BTC Price Bitcoin has seen some pullback in the past day as its price has slipped under the $51,000 level. Looks like the price of the asset has gone down over the past day | Source: BTCUSD on TradingView Featured image from Bastian Riccardi on Unsplash.com, Santiment.net, chart from TradingView.com Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk. Source: NewsBTC.com The post Bitcoin FOMO Hasn’t Spiked Yet: Green Signal For Rally To Continue? appeared first on Crypto Breaking News.

4 days ago
Bit-Insight-Hub
Bit-Insight-Hub
followers

Bitcoin 14% crash to 44k is starting (levels) Technical analysis Bitcoin has pumped significantly in the past few weeks, but nothing lasts forever, and markets always move in waves. I am expecting a 14% crash to 44k in the next few weeks. Why? We can see that the price is now below the ascending parallel channel, which is a sign of weakness. Also, as per my Elliott Wave analysis, we have finished the 5th wave of an impulse wave. What usually follows is an ABC correction or a WXYXZ complex correction. On the chart, you can see my levels, which you can use as support or resistance (profit target or entry point). These levels are very strong, and the market should react to them. Usually Bitcoin loves to bounce from 0.382 or 0.618 Fibonacci levels, and I think the bottom will be at 0.618 FIB. Let me know what you think about my analysis. Thank you, and I wish you successful trades. #Write2Earn #TrendingTopic #signals #Signal #SignalAlert $BTC $ETH

2 days ago
Coinpedia
Coinpedia
followers

The post Ethereum Flashes Bearish Signals: Here’s Where It May Reach If Bulls Fail to Defend the Support appeared first on Coinpedia Fintech News The crypto markets are swinging into a strong consolidation phase. While the Bitcoin price is feared to drop below $51,000, & Ethereum price sticks above $2950. With this, the market participants could be hopeful of the token surpassing $3000 any time from now on. But, unfortunately, the second largest crypto appears to be preparing to offer another buying opportunity, probably below $2,600 very soon.  The ETH price traded within an ascending pattern, forming consistent higher highs and lows, which indicated a growing strength among the bulls. The latest trade set-up suggests the price is preparing to either be stagnant for a while or initiate a fresh bearish case. However, the latter possibility appears to be more likely, as the formed candlestick pattern suggests a trend reversal may have materialised. After marking the highs above $3000, as a result, it formed a ‘Bearish hammer’, with the close of the candle being higher than the open. Moreover, the previous day’s trade witnessed enough competition between bulls and bears, which formed a ‘Doji Candle’. Doji candles usually occur at the end of uptrends and signal bearish reversals. However, the ETH price has been facing acute bearish pressure since the early trading hours, which has validated the beginning of a fresh descending trend.  Additionally, the RSI formation also substantiates the bearish claims as it is plunging after marking the highs above 82. If the levels drop below the threshold at 70, then the Ethereum bulls could lose their grip on the rally, compelling the price to test the support zone between $2392 and $2446. If the bulls fail to hold the rally at these levels, then the ETH price may slide down towards a lower target. However, this appears to be more unlikely.  Collectively, the Ethereum (ETH) price continues to trade within a decisive phase where a drop below $2900 may trigger a fresh bearish case while a rise above $3000 may trash all these possibilities. 

2 days ago
Coinstages
Coinstages
followers

XRP has garnered significant attention in recent months. Following the recent crypto market resurgence caused by Bitcoin’s recent surge, many traders hold onto the hope that XRP will finally reclaim its past glories. However, despite these positive indicators, XRP has underperformed, falling 3.68% over the past 24 hours to $0.542. While the broader crypto market witnessed a surge, XRP is lagging. In 2024 alone, the digital token has even dipped by almost 14%. Many investors are still bullish despite the appalling performance, with one Bitcoin investor recently picking up $500,000 worth of XRP. Faced with this mixed bag of signals, We sought insights from PricePredictions, a platform utilizing AI-driven machine learning algorithms to forecast cryptocurrency prices. The analysis focused on XRP’s potential performance over the next 10 days. AI Hints at Short-Term Climb According to PricePredictions’ algorithms, XRP might finally inch upward in the coming days. The prediction model suggests an increase to $0.553549 by March 1, 2024. Furthermore, the AI anticipates this uptrend to continue into mid-March, with XRP potentially reaching $0.570682, representing a 5.29% increase within 30 days from its current price. However, a closer look at technical indicators based on XRP’s recent performance paints a contrasting picture. The token’s short-term outlook leans towards selling. It should be noted that Oscillators and moving averages predominantly signal a sell recommendation, particularly based on the last 24 hours of trading. This discrepancy between AI predictions and technical indicators underlines the uncertainties associated with cryptocurrency price movements. While AI algorithms analyze vast amounts of historical data and market trends, they cannot account for unforeseen events or sudden shifts in investor sentiment, both of which can significantly impact prices. Other factors could also impact XRP in the short term. The most significant of these is the ongoing legal battle between Ripple and the SEC. This lawsuit has hampered XRP’s price and adoption in the U.S. since it began in December 2020, and unforeseen outcomes could significantly affect XRP. Beyond the legal battle, broader market forces also play a crucial role. The overall health of the cryptocurrency market, particularly Bitcoin’s performance, can significantly impact XRP’s price movement. Ultimately, predicting XRP’s long-term price trajectory remains a challenging endeavor. However, a Ripple executive has revealed that the company prioritizes utility and adoption over short-term price movements, showing that the company has bigger plans for the digital asset. ⚠️Disclaimer This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader. #xrpbullish

3 days ago
CryptoGlobe
CryptoGlobe
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Have you ever found yourself at the edge of the digital currency ocean, wondering how to dive into the swirling currents of Bitcoin? It’s a common place to be as cryptocurrency becomes a staple of modern financial discussions. Just like any other form of trading, there’s a need to grasp the essentials before you make the plunge. Whether it’s setting up a digital wallet to store your coins or finding the right platform for exchange, each step lays the foundation for a seamless experience. For many, dipping a toe in begins with a simple google of Bitcoin buy to survey the expanse of buying options and educational resources available. Discovering the basics of Bitcoin and its marketplace Bitcoin, often hailed as digital gold, carries an allure that draws in a multitude of curious individuals. It’s a decentralized currency, operating without the need for a central bank, over a network that’s both robust and inscrutable. This independence from traditional financial systems is what makes Bitcoin quite the catch for those looking to navigate the high seas of digital money. But before embarking on this voyage, it’s crucial to understand the markets. Fluctuations in Bitcoin’s value can be as unpredictable as the ocean tides, and learning to chart these movements is key to success. First steps to purchasing Bitcoin: setting up a wallet and choosing an exchange Every treasure needs a chest, and in the world of cryptocurrency, your treasure chest is a digital wallet. There’s a variety of wallets available, from software wallets that make daily transactions easy to hardware wallets that act like a personal vault. Once you’ve secured a place for your Bitcoin, the next point on the map is finding a suitable exchange. A good exchange is like a trusted port; it’s a gateway to the market and offers a place to trade confidently. Make sure it ticks all the boxes for security, user-friendliness, and support. After pairing your wallet with a reputable exchange, you’ll be ready to embark on your buying journey. Knowing the right time to buy: analyzing market trends without getting swamped Timing is everything in the open waters of Bitcoin trading. Catch the wave too late, and you might miss out on a profitable swell. Make your move too early, and you could find yourself paddling through a downturn. To navigate these waters effectively, many turn to market trends and analysis. Watching the flow of the market unfolds like an ongoing conversation, with prices responding to global events, technological advancements and shifts in investor sentiment. The ebb and flow of buy and sell orders can signal the best times to enter or exit the market if read correctly. Exploring the depths of cryptocurrency exchanges Choosing an exchange is akin to selecting the right vessel to traverse treacherous waters. A strong and reliable ship will keep you safe during storms and when seas are calm. An exchange’s security should be ironclad, able to protect your digital assets from the pirates of the cyber world. Liquidity is another significant factor; it ensures that your transactions are completed without delay, like a good wind that keeps your sails billowed. Additionally, user experience is the compass that guides you; an exchange should be navigable, letting you steer your trades with clarity and confidence. The art of secure digital asset trading In the world of cryptocurrencies, the golden rule is to secure your fortunes. Good password management and activating two-factor authentication (2FA) act as the armored hulls and canons against invaders. But dangers also lurk in deceptive emails and websites, just as storms conceal treacherous rocks. Phishing attempts and scams require a vigilant eye to avoid the fates of those who have watched their digital gold slip into the abyss. For security beyond the basics, consider cold storage or hardware wallets as the trusted islands where you can anchor your wealth away from potential threats. Setting sail on the crypto market Your journey in the crypto market will involve more than just favorable winds; it needs savvy navigation, too. Setting clear trading goals can be your North Star, guiding each decision with purpose and direction. A wise sailor knows the importance of diversification, as relying on a single trade wind can be risky. By diversifying your holdings, you can better weather the storms of market volatility. And it’s not just about selecting different cryptocurrencies. Effective use of charts and technical analysis serves as the map that reveals underwater currents, helping you to make informed choices en route. From understanding the tides of Bitcoin buying to charting a course in the volatile waters of the crypto markets, your journey will be one of constant learning and adaptation. Just like the ocean’s vastness, the opportunities and challenges in cryptocurrency are boundless. Keep your hand steady on the helm, your eyes on the horizon, and your sails ready to capture the winds of digital change.

3 days ago
Learn_With_Fullo
Learn_With_Fullo
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Bitcoin has consistently experienced notable price corrections prior to halving events, setting the stage for substantial post-halving rallies.With 60 days remaining until this crucial juncture, an analysis of Bitcoin’s past performance reveals a consistent trend. Significant price corrections preceding halving events have historically paved the way for substantial market upswings afterward.Anticipating a Precursory Bitcoin Price Adjustment Before HalvingAn exploration of Bitcoin’s trend analysis since its inception in 2009 underscores a recurring phenomenon. Each halving cycle is typically heralded by a notable decline in the cryptocurrency’s value, laying the foundation for subsequent robust market rallies.Bitcoin Price Corrections Pre-Halving. Source: TradingViewIllustratively, in 2012, a notable 50.78% plunge in BTC’s price occurred just months before the halving, followed by a remarkable ascent. Similar patterns emerged in 2016 and 2020, featuring pre-halving corrections of 40.37% and a significant 63.09% drop, respectively. In both instances, these downturns were succeeded by resilient recoveries post-halving.As of early 2024, Bitcoin has witnessed a 21.17% growth, sparking speculations of an impending bullish market. However, considering historical precedents, the market may brace for a correction, potentially dipping below $45,000 before rallying post-halving.The Crypto Bull Market Unfolds Post-HalvingThe significance of halving events in the cryptocurrency sphere cannot be overstated. Following the halvings in 2012, 2016, and 2020, Bitcoin witnessed remarkable surges of 11,000%, 3,072%, and 700%, respectively.These periods of bullish momentum extended between 365 and 549 days, underscoring the profound impact halvings exert on market dynamics. If the forthcoming bull market aligns with past trajectories, expectations point towards the next BTC market peak, potentially occurring around April or October 2025.Bitcoin Price Uptrend Post-Halving. Source: TradingViewRationale Behind Selling BTC 18 Months After the HalvingAmidst these cyclical patterns, Plan B’s “Stock-to-Flow Trading Rule” offers a strategic approach to navigating the BTC market. Advocating for purchases six months before the halving and sales 18 months after, this strategy leverages the predictable cyclical behavior of Bitcoin prices.While emphasizing that this is not a prediction model, Plan B notes its historical outperformance compared to BTC’s price trends, suggesting a potential 4X increase in BTC price in the current cycle.“Bitcoin is at $30,000, so the strategy [anticipates a] 4X in the BTC price. We are awaiting the next Buy Signal, and we already know that the halving will be around April 2024, so six months before that is around October… Then [BTC will] enter the market and will stay there for two more years until October 2025, 24 months later,” explained Plan B.The anticipation of the next bull market is rooted in analyzing BTC’s historical price movements and strategic trading models like Plan B’s. As the early bull market stage is recognized, the foundation is laid for substantial price surges following the April 2024 halving. #BTC #dyor

3 days ago
Crypto Daily™
Crypto Daily™
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In the recent crypto market development, Glassnode, a renowned on-chain analytics firm, brought attention to its "Altseason Indicator", a tool designed to discern if a so-called "altcoin season" is in full swing.  Altseason Indicator gauges investor sentiment towards risk, focusing on capital netflows among major asset classes like Bitcoin, Ethereum, and stablecoins, as well as the altcoin market cap's momentum relative to its 30-day Simple Moving Average (SMA). After a period of dormancy, the Altseason Indicator, which first signaled a risk-on mode last October, reignited interest by suggesting the return of the altcoin season. Amid this shifting landscape, Chainlink (LINK) and Litecoin (LTC), both renowned altcoins, showed remarkable resilience and growth. Despite a challenging week that saw them close in the red, these digital assets bounced back impressively. LTC saw a 7% increase, but it's LINK that stole the spotlight with a staggering 34% surge. This upward trajectory in a market that's just warming up to the idea of an altcoin season again adds a layer of intrigue and potential. Meanwhile, the crypto community is closely watching ScapesMania (MANIA), a project that has recently concluded its presale stage. With its Token Generation Event (TGE) and coming DEX listing on the horizon, MANIA is poised to expand its reach to a broader spectrum of crypto investors in the market that's seemingly ripe for altcoin advancements. Ride The Wave of Innovation with ScapesMania The ScapesMania public sale wrapped up, becoming the talk of the crypto community. The project managed to secure over $6,125,000 at an unprecedented rate and there’s a strong probability that the token's value might increase exponentially in the future. The spotlight has shifted to the Token Generation Event (TGE) coming up on February 25 – March 09. The pool of tokens is smaller than it was before, the conditions are better than the market average, so the chance to maximize your potential returns is quickly diminishing. Letting it slip now would be a huge waste, especially since your chance to join is only a click away. Your Last Chance to Boost Potential Returns Post Listing The team behind ScapesMania, with years of expertise, has crafted a robust post-listing marketing strategy. Buyback, burn, staking, and all the perks for holders keep attracting new adopters while also ensuring a high level of community engagement. Through DAO governance, backers will be able to influence and benefit from a growing industry. Moreover, the token's utility is impressive. It's not another meme coin whose success relies heavily on trends and hype. ScapesMania ($MANIA) is a well-balanced, meticulously designed project that acts as a gaming ecosystem. As a player in the multi-billion casual gaming industry, it leverages the market's growth potential. Post-debut, holders can anticipate greater liquidity and easier trading. A solid token management plan will further increase longer-term growth potential.  The community's excitement about the project is evident so far: the follower count has reached 60K+. Also, the growing interest from crypto whales with deposits of $20,000+ might expedite ScapesMania's transition from niche to mainstream. ScapesMania's smart contract has received approval from prominent security-ranking firms, ensuring peace of mind for holders. Additionally, the PancakeSwap listing is on the horizon, with CEX listings still in the works. ScapesMania is also notable for a great cliff vesting structure to prevent token dumping, making sure that supply and demand are well-matched for potential growth. Make sure you don't pass up the opportunity to leverage all discounts and potentially beat the market with the TGE fast approaching. Be quick if you want to be the first one in line for all the post-listing opportunities, which might be quite lucrative. >>> TGE ALERT – Keep Up With Latest News <<< Chainlink (LINK): Inside the Whale-Influenced Surge Chainlink (LINK), a prominent player in the blockchain oracle space, has been exhibiting intriguing market behavior recently. A key point of interest is the substantial 175% surge in large transaction volume, reaching an impressive total of $338.96 million. This spike is a clear indicator of heightened whale activity, as evidenced by the jump from 6.17 million LINK in large transactions on February 19 to a staggering 17.65 million LINK the following day. Adding to the intrigue, the last 24 hours have seen mysterious movements of millions of Chainlink (LINK) tokens by these large-scale investors. Whale Alert, a service tracking large crypto transactions, reported notable movements, including a transfer of 4,314,062 LINK worth $79,065,694 to an unknown wallet and 2,402,942 LINK, valued at $46,491,692, moving from BlockFi to another anonymous wallet. Chainlink (LINK) Technical Analysis From a technical perspective, Chainlink (LINK) is currently trading between its first support level at $17.97 and its first resistance level at $19.26. This positioning is critical as it hovers near the Exponential Moving Averages (EMA) of 10, 50, and 200 days, all converging around $18.6 to $18.72, suggesting a consolidation phase. Source: TradingView The Relative Strength Index (RSI) stands at 32.14, pointing towards a potential undervaluation and possibly a buying opportunity. However, the Stochastic %K at 0 and the Commodity Channel Index (CCI) at -166.05 both indicate a short-term bearish sentiment. The Average Directional Index (ADX) at a low 20.32, combined with a nearly neutral MACD Level at -0.018 and a Momentum of -0.05, suggests a lack of strong directional trend in the immediate term. Chainlink (LINK) Price Prediction Considering these technical indicators, the bullish scenario for LINK would entail a break above $19.26, potentially catalyzed by continued whale activity and positive market sentiment. This move could target the next resistance levels at $19.92 and potentially extend towards $21.21. On the flip side, the bearish scenario would involve Chainlink (LINK) breaking below $17.97, influenced by negative market reactions or reduced whale activity. Such a move could see LINK testing further supports at $17.34 and then possibly at the significant level of $16.05. Litecoin (LTC): A Path of Resilience Litecoin (LTC), a pioneering altcoin known as the “silver to Bitcoin’s gold”, maintained its presence in the crypto space since its inception in 2011. Despite its legacy and the introduction of innovative features like MimbleWimble in 2022, LTC's market response has been relatively subdued. Recent times have seen a lackluster performance in Litecoin's (LTC) price action, leading to frustration among its holders. Litecoin Foundation managing director Alan Austin acknowledged this santiment, but emphasized their commitment to sound money principles over artificial market manipulation tactics. Despite Austin's call for collective efforts to boost Litecoin's (LTC) adoption and value, on-chain metrics present a mixed bag. While the number of transactions and network hash rate have hit all-time highs, there's been a noticeable decline in transfer volume and active addresses. This situation is further complicated by the historical context of Litecoin's founder, Charlie Lee, selling all his LTC at the peak of 2017's market, a move that some believe still impacts Litecoin’s (LTC) market relevance. Litecoin (LTC) Technical Analysis Technically, LTC is navigating a narrow range between its first support level at $68.12 and first resistance level at $73.78. Source: TradingView The 10-day EMA at $68.95, 50-day EMA at $69.77, and 200-day EMA at $69.53 are closely clustered around its current price, suggesting a lack of strong directional momentum. The RSI at 45.5, Stochastic %K at 43.09, and the CCI at -28.37 reinforce this narrative of indecision in the market. However, the ADX at 30.22 indicates a developing trend strength, albeit not very pronounced. The MACD at -0.45 and a negative Momentum value of -0.67 add to the complexity, implying that market sentiment is not decidedly bullish or bearish, but rather waiting for a more definitive signal. Litecoin (LTC) Price Prediction In a bullish scenario, if Litecoin (LTC) adoption increases and the community reacts positively to its steadfast adherence to the foundational principles, LTC can break above $73.78. A more notable shift in market sentiment can potentially lead to an upward trend toward the next resistance levels at $76.14 and $81.5. On the flipside, a break below $68.12 could see Litecoin (LTC) testing further supports at $65.42 and $60.06, possibly due to the ongoing concerns about its market relevance and the broader impact of market trends. Closing Words Chainlink (LINK) and Litecoin (LTC) have recently showcased their resilience in the unpredictable crypto market. LINK, with its staggering 34% surge, and LTC, experiencing a steady 7% rise, are navigating through a complex market environment highlighted by the Altseason Indicator's recent activity. Both Chainlink (LINK) and Litecoin (LTC) are positioned between key technical levels, reflecting a blend of investor uncertainty and potential for significant moves. As these altcoins respond to market dynamics and underlying technical indicators, investors and traders alike are keenly observing for signs of directional momentum in a market ripe with both opportunities and challenges. Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

3 days ago
CaptainAltcoin
CaptainAltcoin
followers

Solana (SOL) has been having a decent time this month, with some major gains – even more so than some other tokens. On top of that, there may be even more gains in sight for the crypto asset. However, there are some tokens that are overshadowing SOL because they are even more lucrative. The two tokens in question are Bitcoin Minetrix (BTCMTX) and Smog (SMOG), which have the potential for significant growth. We give you all the details on these projects here. Solana Price Prediction: Major Gains Coming In? According to the technical analysis on the weekly time frame, SOL reached its highest point of $126 in 2023, but then declined. The drop reached its lowest point of $79 in January 2024. Since then, the SOL price has risen, forming consecutive positive weekly candlesticks. It hit a peak of $119 on February 14, 2024. The weekly Relative Strength Index (RSI) also shows a negative sign. Market traders use the RSI to measure the momentum of the price and to determine if it is overbought or oversold. They use this information to decide when to buy or sell an asset. If the RSI is above 50 and rising, it means that the bulls have more power, while if it is below 50 and falling, it means the opposite. However, the indicator is also showing a bearish divergence (green trend line), which is a common signal of a downward trend. Bitcoin Minetrix Has A Great Future Ahead of It Bitcoin Minetrix (BTCMTX) is a remarkable tokenized cloud mining platform, known for its efficiency and easy-to-use interface. The project has built a solid reputation by ensuring security and transparency. Users can conveniently get and stake BTCMTX tokens within the platform’s ecosystem, using user-friendly wallets like MetaMask, which are smoothly integrated with Ethereum. Bitcoin mining has usually been difficult for the average person. However, this platform and its token make it possible for anyone who wants to mine the most popular cryptocurrency in the world. This method improves accessibility, allowing investors to stake BTCMTX and get credits for more BTC mining. It also solves the problem of cloud mining reliability and reduces the chance of fraud in the industry. The project has many advantages, such as low startup costs, a safe and simple user interface, and an easy onboarding process. The process consists of buying tokens, choosing the buy-and-stake option, and then getting rewards in Bitcoin. The team has clearly defined an initial roadmap, showing a smart view on the project’s development. After the presale, their main objectives are to get listings on exchanges, start a full-scale marketing campaign, and begin the creation of desktop and mobile apps, which will need more team members. Ongoing talks with trustworthy cloud mining companies show great potential for significant growth, with an emphasis on creating the stake-to-mine contract. The next stage will concentrate on launching stake-to-mine desktop and mobile dashboards and enabling the first Bitcoin withdrawals to wallets. Future plans include adding the feature to exchange mining credits for hash power. The team’s top priorities going forward are marketing activities, possible expansion into cloud mining rentals, and other strategic business operations. Bitcoin Minetrix has reached impressive achievements during its presale, with the BTCMTX token currently worth $0.0136, raising almost $11.3 million. BTCMTX tokens can be bought through credit card transactions, ETH, USDT, and BNB. Also, a tempting Gleam contest offers a $30,000 mine drop reward. Smog (SMOG) Is A Meme Coin That Will Revolutionize The Niche We won’t hesitate to say it: Smog (SMOG) could be one of the biggest meme coins of all time. This Solana-based meme coin has rapidly gained popularity on decentralized exchanges (DEXs), reaching a $2 million market cap on Jupiter. The upcoming airdrop suggests the possibility of huge growth, and the staking option gives an APY of 42%. Do remember that meme coins are always vying for the crown of the fastest growing crypto tokens. This trend has been very clear in the last year, with many meme coins consistently beating the wider market. This trend is likely to persist in the future, with the meme coin niche staying one of the most lively and efficient in terms of producing returns. SMOG is following the footsteps of successful predecessors like Bonk and Myro, which have experienced amazing growth. Notably, SMOG’s DEX trading volumes have lately exceeded those of Uniswap. With its impressive growth, SMOG has the chance to outdo the accomplishments of SPONGE, which saw a 50x increase from $2 million to $100 million. SMOG is certainly one of the most attractive cryptocurrencies to invest in right now, with the upcoming airdrop possibly boosting it to become the top meme coin of 2024. Conclusion Solana (SOL) may have some upward momentum, but Bitcoin Minetrix (BTCMTX) and Smog (SMOG) are set to grow even further this year. We highly recommend keeping an eye on these tokens, joining their presales, and following their social media channels to keep up with the latest news. Check Out Smog Disclaimer: We advise readers to do their own research before interacting with any featured companies. The information provided is not financial or legal advice. Neither CaptainAltcoin nor any third party recommends buying or selling any financial products. Investing in cryptoassets is high-risk; consider the potential for loss. CaptainAltcoin is not liable for any damages or losses from using or relying on this content. The post Solana (SOL) Price Prediction: Positive Outlook, But Potential Gains Overshadowed By These Two Lucrative Tokens appeared first on CaptainAltcoin.

3 days ago
Crypto Daily™
Crypto Daily™
followers

Major crypto tokens are trading in the red in today's trade, primarily influenced by diminishing expectations of early interest rate cuts from the Federal Reserve. Investors eye the coming minutes from the US central bank's last meeting which, many believe, will provide critical insights into future policy directions. Amidst this cautious backdrop, Bitcoin recently experienced a rollercoaster ride, surging to a new yearly high of $53,000, only to retrace back to $50,750. This fluctuation was attributed to a combination of peaking open interest and unfavorable funding rates for bullish positions. Although it rebounded to $51,000, it's Ethereum's resilience that caught the market's eye, with its price surpassing the $3,000 mark and holding steady, fueled by the anticipation of a spot ETF approval in the US and progress in its network upgrade. In this complex tapestry of market movements, DeFi blockchains Sei (SEI) and Sui (SUI) have not been immune to the market's vicissitudes, with both tokens experiencing a plunge of over 5% in today's trading session. However, in the midst of these broader market fluctuations, there's a growing buzz around ScapesMania (MANIA), a project that has recently concluded its presale stage. As the crypto community eagerly awaits its impending Token Generation Event (TGE) and anticipated DEX listing, there's a palpable sense of expectation that MANIA might open new avenues for a wider array of crypto investors. Ride The Wave of Innovation with ScapesMania The ScapesMania public sale wrapped up, becoming the talk of the crypto community. The project managed to secure over $6,125,000 at an unprecedented rate and there’s a strong probability that the token's value might increase exponentially in the future. The spotlight has shifted to the Token Generation Event (TGE) coming up on February 25 – March 09. The pool of tokens is smaller than it was before, the conditions are better than the market average, so the chance to maximize your potential returns is quickly diminishing. Letting it slip now would be a huge waste, especially since your chance to join is only a click away. Your Last Chance to Boost Potential Returns Post Listing The team behind ScapesMania, with years of expertise, has crafted a robust post-listing marketing strategy. Buyback, burn, staking, and all the perks for holders keep attracting new adopters while also ensuring a high level of community engagement. Through DAO governance, backers will be able to influence and benefit from a growing industry. Moreover, the token's utility is impressive. It's not another meme coin whose success relies heavily on trends and hype. ScapesMania ($MANIA) is a well-balanced, meticulously designed project that acts as a gaming ecosystem. As a player in the multi-billion casual gaming industry, it leverages the market's growth potential. Post-debut, holders can anticipate greater liquidity and easier trading. A solid token management plan will further increase longer-term growth potential.  The community's excitement about the project is evident so far: the follower count has reached 60K+. Also, the growing interest from crypto whales with deposits of $20,000+ might expedite ScapesMania's transition from niche to mainstream. ScapesMania's smart contract has received approval from prominent security-ranking firms, ensuring peace of mind for holders. Additionally, the PancakeSwap listing is on the horizon, with CEX listings still in the works. ScapesMania is also notable for a great cliff vesting structure to prevent token dumping, making sure that supply and demand are well-matched for potential growth. Make sure you don't pass up the opportunity to leverage all discounts and potentially beat the market with the TGE fast approaching. Be quick if you want to be the first one in line for all the post-listing opportunities, which might be quite lucrative. >>> TGE ALERT – Keep Up With Latest News <<< Sei (SEI) Price Analysis In a striking 24-hour period, Sei's (SEI) value witnessed a notable decline, dropping from $0.96 on February 20 to $0.87 amid the trend index's increased volatility and a downturn in trading volumes. The community is now closely monitoring the coming Sei v2 upgrade, slated for release in Q1 2024, which promises to enhance the Sei's (SEI) capabilities by allowing developers to integrate Ethereum protocols. So the anticipated upgrade is a focal point of interest and can determine SEI's future trajectory. Sei (SEI) Technical Outlook Currently, Sei (SEI) is trading between its first support level at $0.7347 and its first resistance level at $1.1132. Source: TradingView The Exponential Moving Averages (EMA) paint a moderately positive picture, with the 10-day EMA at $0.907 and the 50-day EMA at $0.8837 hovering just above the 200-day EMA at $0.7466. However, the Relative Strength Index (RSI) at 40.95, Stochastic %K at 20.03, and the Commodity Channel Index (CCI) at -164.59 signal a bearish sentiment, indicating potential overselling. The Average Directional Index (ADX) at 23.43 suggests a lack of strong trend, while the negative MACD level and declining Momentum reinforce a cautious outlook. Sei (SEI) Price Prediction Looking at possible scenarios, a bullish perspective might hinge on the SEI breaking above $1.1132. If this happens, it could signal a shift in investor sentiment and a potential run towards the $1.2645 resistance, or even the $1.643 barrier in a more optimistic case. On the flip side, the bearish scenario, as predicted by some analysts, could see Sei (SEI) breaking below $0.7347, possibly due to ongoing market pressures and the current negative sentiment. If this bearish trend persists, SEI might find itself testing lower supports at $0.5057 and potentially the critical $0.129 level. Sui (SUI) Price Analysis With an impressive 62% spike, Sui (SUI) outpaced established competitors like Cardano, NEAR Protocol and Aptos in terms of total value locked (TVL), now exceeding $584 million across various protocols. This remarkable growth was partly attributed to a substantial $310 million bridge from Ethereum to Sui (SUI) in the last 30 days, as reported by wormholescan.io, representing more than a doubling of its position since the start of the year, when the TVL was approximately $211 million. Despite initial challenges, including a 68% decline in SUI and accusations of token supply manipulation, Sui (SUI) made a significant comeback after adopting inscriptions, a method for recording data on the blockchain that gained prominence during Bitcoin's NFT era, leading to a surge in blockchain activity. Sui (SUI) Technical Outlook Technically, SUI is trading between its first support level at $1.6683 and its first resistance level at $1.9523. Source: TradingView The 10-day EMA at $1.6991 and 50-day EMA at $1.7484 are currently above the 200-day EMA at $1.5414, suggesting a potential bullish trend in the shorter term. However, the RSI at 35.38 indicates that Sui (SUI) might be approaching oversold territory. The Stochastic %K is at a low 24.1 and the CCI at -145.31 also point to potential overselling. The ADX at 23.33 suggests a lack of strong trend, while the negative MACD and Momentum could be indicative of a bearish momentum building up. Sui (SUI) Price Forecast For the bullish scenario, if SUI maintains its current momentum and innovation, particularly in embracing technologies like inscriptions, it could break past $1.9523, aiming for the more distant resistances at $2.1046 and $2.3886. This optimism is backed by the recent surge in TVL and the innovative approach of its team, comprising former Meta employees. On the bearish side, if the market sentiment turns negative or if Sui (SUI) fails to sustain its innovative edge, it could see a retraction towards $1.6683 or even lower towards the next supports at $1.5366 and $1.2526. The recent slip in SUI's value left many wondering if Sui (SUI) can withstand bearish pressure amid the negative trends and past hiccups that initially rocked its stability. Closing Thoughts In the midst of a fluctuating crypto market, where major tokens are experiencing downturns influenced by Federal Reserve policies, DeFi blockchains Sei (SEI) and Sui (SUI) are navigating through their own unique challenges and opportunities. SEI, on the cusp of a significant upgrade, faces a crucial period that could redefine its market position, while SUI, having recently surged in total value locked, confronts the test of maintaining its momentum amidst market uncertainties. Both platforms, emerging from their respective lows, are now at pivotal junctures, with their technical indicators suggesting potential paths but also hinting at the need for cautious optimism. As investors and traders closely watch these developments, the future of Sei (SEI) and Sui (SUI) hangs in a delicate balance, promising potential rewards for those who can adeptly ride the waves of these emerging DeFi contenders. Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

3 days ago
Coinpedia
Coinpedia
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The post How High Will Bitcoin Price Hit Before Halving? appeared first on Coinpedia Fintech News Cryptocurrency analyst Eric Krown recently discussed the current state of the cryptocurrency market, pondering whether the dynamics at play indicate a significant departure from historical patterns. Krown opened up about the importance of relying on hard data and analysis when considering that “this time is different.” Krown begins by examining historical data related to Bitcoin’s previous halving events, represented by green bars. He notes a consistent trend where Bitcoin experiences a rally before each halving event, typically reaching about 70% off the prior all-time high. However, he points out a notable deviation in the current rally, which has surpassed previous highs by about 30%, with Bitcoin currently trading around $51,100. Next, Krown analyzes Bitcoin’s behavior concerning Fibonacci levels, particularly after reaching highs. Historically, Bitcoin tends to rally to the 50% to 61.8% Fibonacci levels before retracing to the 23.6%, where it finds support before further upward movement. However, in the current cycle, Bitcoin has surged beyond 61.8%, trading above $51,000, a phenomenon untouched in previous cycles. Krown offered information on Bitcoin’s recent price movements, considering its consolidation within a range defined by Fibonacci levels. He suggests that Bitcoin’s sideways movement and volatility contraction may indicate an impending breakout to the upside. Furthermore, he discusses the potential implications for altcoins, noting a rotational market where other cryptocurrencies like Ethereum are gaining traction. The analyst advises monitoring Bitcoin’s price action closely, particularly its ability to hold above the $51,000 level. A daily close below this threshold could signal a short-term correction, with support likely around $48,000. However, sustained sideways movement by Bitcoin could imply further upside potential.

4 days ago
CoinQuest
CoinQuest
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Bitcoin's Price Trajectory Before the Halving 📈💰🤯 Bitcoin's impending halving event has spurred intense speculation within the cryptocurrency community. Noted analyst Eric Krown recently explored whether current market dynamics deviate significantly from historical norms. Emphasizing the need for data-driven analysis over the assumption of "this time is different," Krown offered insights into Bitcoin's previous halving cycles and its current rally, which has exceeded past highs by around 30%, with Bitcoin now trading near $51,100. Krown also examined Bitcoin's behavior concerning Fibonacci levels post-rally, noting an unusual surge beyond the typical 61.8% threshold, a phenomenon not witnessed in prior cycles, with Bitcoin's price surpassing $51,000. Furthermore, Krown discussed Bitcoin's recent price movements, observing its consolidation within Fibonacci-defined ranges and suggesting that dwindling volatility might signal an impending upward breakout. He also touched upon the potential impact on alternative cryptocurrencies, highlighting Ethereum's prominence amid what appears to be a rotational market. In terms of actionable insights, Krown advised closely monitoring Bitcoin's price action, particularly its ability to sustain levels above $51,000. A dip below this crucial threshold could indicate a short-term correction, possibly finding support near $48,000. However, continued sideways movement could suggest further upside potential. 🚀 $BTC #Write2Earn #TrendingTopic #BTC #AmanSaiCommUNITY

4 days ago
TopCryptoNews
TopCryptoNews
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In a recent statement, veteran cryptocurrency analyst Ali Martinez shed light on the behavior of Bitcoin whales and the overall BTC market. According to the analyst, the behavior of crypto whales is currently mixed, with some buying while others selling to take advantage of recent price movements. Martinez, however, sees a clear accumulation trend when focusing on the largest group of whales, those holding between 1,000 and 100,000 BTC. According to the analyst, this pattern is typical for bull markets and indicates a positive outlook among large wallets. According to the analyst, these wallets started buying BTC around $29,000 and accelerated their purchases when the price exceeded $46,000. On the other hand, the TD Sequential indicator, a popular tool used by investors to identify price formations, is showing a sell signal on the Bitcoin 3-day chart, according to Martinez. It is important to note that BTC has experienced a 10% price correction the last two times this indicator gave a bearish signal, according to the analyst. This suggests that the market may still experience short-term volatility as the biggest whales accumulate. $BTC #Write2Earn #BTC

4 days ago
CoinQuest
CoinQuest
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Bitcoin's Price Forecast: Prepare for Sub-$50k Crash, $140 Billion at Risk🤯 Bitcoin's surge past $50,000, fueled by ETF inflows and an upcoming halving, hints at a looming correction. The TD Sequential indicator suggests a potential -10% downturn, historically preceding significant corrections. This could mean a substantial reduction in Bitcoin's market cap, possibly around $138 billion, with the total market cap dropping to $865 billion and Bitcoin's price around $45,000. Despite a remarkable 74% surge in recent months, the absence of FOMO suggests a lack of buying pressure, potentially leading to a downturn. Currently trading at $51,023, Bitcoin has seen a 3.39% decline in the past 24 hours and a 1.26% decrease over the week, contrasting with the 25.02% gains over the past month. While technical indicators remain bullish, only time will tell if the TD Sequential sell signal holds true or if Bitcoin continues defying expectations. $BTC #Write2Earn #TrendingTopic

4 days ago
COINNEWS
COINNEWS
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📉 Crypto market update: Bitcoin battles at $52,000 while altcoins face corrections. Will the bulls prevail? 🐂 - Bitcoin struggles to stay above $52k, with bears fiercely defending. A slip below $50k could trigger a pullback to the 20-day EMA ($48,842). - Ether faces profit booking from short-term traders at $3k. Key support at $2,717; a break below the 20-day EMA ($2,680) could signal a deeper correction. - BNB surges past $367 resistance, with bulls in command. A sustained price above $368 could lead to a rally toward $400. - Solana's rebound stalls at $115, with a decline to $93 possible if support at the 50-day SMA fails. - XRP struggles to clear $0.57, with a potential dip to strong support at $0.46. - Cardano sees profit booking at $0.64, with a possible consolidation between $0.46 and $0.64 if 20-day EMA ($0.57) fails. - Avalanche faces range-bound action, with a potential drop to $32 if the 50-day SMA ($36) breaks. - Dogecoin battles at $0.09, with a possible descent to $0.07 if the uptrend line fails. - Chainlink slips below 20-day EMA ($18.81), with a potential trend change if the zone between $17.32 and the 50-day SMA ($16.51) breaks. - Polkadot's recovery stalls at $8.21, with a potential drop to $6 if the 50-day SMA ($7.18) fails. Stay tuned for more crypto updates! 🚀

4 days ago
Crypto Eagles
Crypto Eagles
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Bitcoin has pushed the 50K resistance area and peaked in the 52Ks. The recent bearish pin bar has signalled a swing trade short, which is not following through (no surprise there). Over the coming week, it is within reason to see a retest of the 48K area support. This is the price location where a high-probability swing trade setup can appear and where I am preparing for a signal. That was what I was waiting for the market to confirm, but the market never confirmed. We got a resistance break and ran to 52K instead. A move like this calls for a new wave count, which you can see on my chart now. This illustrates an important point: you cannot get married to wave counts because the market does whatever it wants to do. One drawback to wave counts is that you have to relabel after the fact. They only serve as a basic guide that the market will either confirm or not. The new wave count presents an impulse wave with 3 legs complete, with a potential fourth wave developing. This implies there is one more wave higher, which can lead the price into the 55K or 60K areas over the next few weeks (if it follows through). This impulse would actually be the 5th wave (which I thought was completed at the previous test of 50K). This also means that once 5 waves are complete, the probability of a broader corrective wave following becomes greater. At this point, the plan is simple: wait for retrace to 48K area support and look for a buy signal on larger time frames. If this opportunity unfolds, I will point it out to my members along with the other parameters, such as stop-and-take profit prices. The broader Wave C (monthly) that I have been pointing out in recent articles is also a low-probability scenario unless or until the 40K support is broken. Again, the key to this game is knowing how to adjust to new information and not getting stuck on opinions. The market changes, and we must change our expectations with it if we want to be aligned with the probabilities. #ETH @BTC #Write2Earn #BTC‬

4 days ago
TheNewsCrypto
TheNewsCrypto
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Solana’s value is declining, with prices nearing the $100 mark. The recent drop is in sync with Bitcoin’s fall from $53,000, leading to widespread liquidations in the crypto market. Solana’s network activity has decreased, with a 30% drop in active addresses from a peak of 1.02 million to around 691,000. Solana has witnessed waning investor interest recently, with prices sliding near key resistance around the $100 threshold. The drop aligns with Bitcoin’s own rejection at $53,000 peaks that triggered cascading liquidations across crypto markets earlier this week. On-chain data now warns of additional downsides as bearish momentum builds. In the past 24 hours alone, crypto exchanges saw total liquidations top $300 million, with bullish traders bearing the brunt at over $220 million in forced sells. Solana itself contributed, with nearly $10 million worth of long positions unwound. The cascade of selling pressure plunged its SOL token from local highs. Solana plunges alongside Bitcoin and Ethereum The recent price slide stems from anxiety amongst investors following the market correction when values neared testing upside barriers. Closely tracking Bitcoin and Ethereum, Solana similarly faced resistance, with both bellwether assets also retracting from their $53,000 and $3,000 ceilings, respectively. On-chain statistics reveal declining network activity for Solana alongside the drop. Active addresses have plunged 30% off their 1.02 million peak in recent weeks to currently sit around 691,000 – indicating fading user demand. Whales may interpret this usage metric as a negative signal, exacerbating volatility. However, a slight silver lining comes via the value transferred on Solana rebounding back above the $1 trillion mark after recently tagging $218 billion lows. The recovery does suggest residual exchange activity and flows, which could stabilize declines. Presently, bears have commandeered the price charts to force SOL below critical support early Thursday. Sellers managed to conquer the key Fib line at $103 to turn that into overhead pressure now. Prices currently trade around $102—down over 6% daily. Absent a swift reclaim of $103, downside projections eye the next demand zone at $93. Any daily close below there risks sparking a capitulation wave towards the crucial $80 floor. But a strong reaction here may stimulate a consolidation between $80-$108 until bulls regain control of the market. To maintain positive momentum before then, SOL needs to defend $100 in the interim while setting up a push back above its 20-day exponential moving average.

4 days ago
Cointelegraph
Cointelegraph
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Bitcoin (BTC) has been trading sideways for the past few days, indicating a tough battle between the bulls and the bears. Will the sellers overpower the buyers and start a short-term correction, or could the buyers come out on top? That is the question on every crypto investor’s mind. Dwindling hopes of an early rate cut by the Federal Reserve have resulted in profit booking in the S&P 500 Index. That could signal a risk-off sentiment in the near term, increasing the risk of a pullback in Bitcoin and select altcoins. Daily cryptocurrency market performance. Source: Coin360 However, the dip may not change the long-term bullish view. Investors are likely to view every dip as a buying opportunity because of Bitcoin’s upcoming halving in April, which has historically been a bullish event. What are the important support levels that may arrest the decline in Bitcoin and altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out. Bitcoin price analysis Bitcoin is struggling to sustain above $52,000, indicating that the bears are fiercely defending the level. BTC/USDT daily chart. Source: TradingView If the price slips below $50,000, short-term traders may give up and book profits. That could pull the BTC/USDT pair to the 20-day exponential moving average ($48,842). If the price rebounds off the 20-day EMA with force, it will suggest that the sentiment remains positive and traders are buying at lower levels. That will increase the likelihood of a rally above $52,000. The pair could then jump to $60,000. Instead, if the price continues lower and breaks below the 20-day EMA, it will signal the start of a pullback to the 50-day simple moving average ($44,924). Ether price analysis Ether (ETH) turned down from the psychological resistance of $3,000 on Feb. 21, indicating profit booking by short-term traders. ETH/USDT daily chart. Source: TradingView In a strong uptrend, the corrections generally last between one to three days. The crucial support on the downside is $2,717. If the price snaps back from $2,717 with force, it will indicate that every minor dip is being purchased aggressively. That will enhance the prospects of a break above $3,000. The ETH/USDT pair may then rally to $3,300. Conversely, if bears tug the price below the 20-day EMA ($2,680), it will signal the start of a deeper correction to the 50-day SMA ($2,467). BNB price analysis BNB (BNB) turned up after a brief correction and surged above the $367 resistance on Feb. 21, signaling the resumption of the uptrend. BNB/USDT daily chart. Source: TradingView The upsloping moving averages and the RSI in the overbought zone indicate that the bulls are in command. If buyers maintain the price above $368, the BNB/USDT pair could pick up momentum and surge toward $400. The first support on the downside is at the 20-day EMA ($336) and the next is the 50-day SMA ($315). The bears will have to yank the price below the 50-day SMA to indicate a trend change. Solana price analysis Solana’s (SOL) rebound fizzled out at $115, and the price turned down on Feb. 19, indicating a lack of demand at higher levels. SOL/USDT daily chart. Source: TradingView The bears pulled the price below the neckline of the inverse head-and-shoulders pattern on Feb. 21, signaling that the bullish momentum has weakened. The 50-day SMA may act as a support, but it may not hold for long. If the support cracks, the SOL/USDT pair could start a decline to $93, which is an important level to keep an eye on. The first sign of strength will be a rise above the downtrend line. The pair could then attempt a rally to the overhead resistance of $126. XRP price analysis XRP (XRP) closed above the downtrend line on Feb. 19, but the bulls could not clear the hurdle at $0.57. This suggests that every minor relief rally is being sold into. XRP/USDT daily chart. Source: TradingView The bears are trying to pull the price below the moving averages. If they succeed, the XRP/USDT pair could dip toward the strong support at $0.46. Buyers are expected to defend this level with vigor. If the price rebounds off $0.46, the pair could climb to $0.57 and stay inside this range for some time. A break and close above $0.57 will suggest that the corrective phase may be over. The pair could then attempt a rally to $0.67. Cardano price analysis Cardano (ADA) turned down from $0.64 on Feb. 20, suggesting profit booking by the short-term traders. The price could reach the 20-day EMA ($0.57). ADA/USDT daily chart. Source: TradingView Buyers will have to defend the 20-day EMA aggressively if they want to keep the up move intact. If they do that, the ADA/USDT pair could rise to $0.64 and eventually to $0.68. A break and close above this resistance will signal the start of the next leg of the uptrend. On the contrary, if the price tumbles below the 20-day EMA, it will indicate that the bullish momentum has weakened. The pair may then consolidate inside a large range between $0.46 and $0.64 for a while. Avalanche price analysis The bulls defended the 50-day SMA ($36) on Feb. 20, but the bears sold the recovery to the 20-day EMA ($38.22) in Avalanche (AVAX). AVAX/USDT daily chart. Source: TradingView The 20-day EMA has flattened out, and the RSI is just below the midpoint, indicating a range-bound action in the near term. If the price breaks below the 50-day SMA, the AVAX/USDT pair may drop to $32, which is likely to act as a strong support. A solid rebound off the support could keep the pair between $32 and $42 for a few days. On the upside, the bulls will have to drive and sustain the pair above $42 to complete the inverse head-and-shoulders pattern and gain the upper hand. Related: Michael Saylor to forever buy Bitcoin — ‘No reason to sell the winner’ Dogecoin price analysis Dogecoin (DOGE) bounced off the 20-day EMA ($0.08) on Feb. 18, but the bulls could not overcome the barrier at $0.09. This suggests a negative sentiment where the bears are selling on rallies. DOGE/USDT daily chart. Source: TradingView If the price skids below the moving averages, the DOT/USDT pair could drop to the uptrend line. This is an essential level for the bulls to defend because if they fail to do that, the pair may start a descent to $0.07. This negative view will be invalidated in the short term if the price rebounds off the current level and rises above $0.09. That opens the doors for a possible rally to the $0.10 to $0.11 resistance zone. Chainlink price analysis Chainlink (LINK) bounced off the 20-day EMA ($18.81) on Feb. 20, but the bulls could not build upon the recovery. The price turned down and slipped below the 20-day EMA on Feb. 21. LINK/USDT daily chart. Source: TradingView The next stop on the downside is the breakout level of $17.32. This level may witness a tough battle between the bulls and the bears. If the price rebounds off $17.32 with strength, the LINK/USDT pair may rise to the 20-day EMA and later to the overhead resistance at $20.85. The zone between $17.32 and the 50-day SMA ($16.51) is likely to act as a formidable support on the downside. A break below this zone will suggest a potential trend change in the near term. Polkadot price analysis Polkadot’s (DOT) recovery stalled near the 61.8% Fibonacci retracement level of $8.21, indicating that bears continue to sell on rallies. DOT/USDT daily chart. Source: TradingView The DOT/USDT pair has reached the 50-day SMA ($7.18), which is an important level to watch out for. If this level gives way, it will suggest that the bulls are losing their grip. The pair could then drop to the neckline and subsequently to $6. The flattening 20-day EMA and the RSI near the midpoint suggest a range-bound action in the near term. If the price rebounds off the neckline, the pair could reach $8.21 and stay range-bound between these two levels for some time. The bulls will be back in the game on a close above $8.21. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

4 days ago

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