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Coinpedia
Coinpedia
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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. 

6 days ago
Coinpedia
Coinpedia
Cryptopolitan
Cryptopolitan
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The recent downturn in Shiba Inu (SHIB) has sparked concern among investors, indicating a potential bearish trend in the coming weeks. The market is experiencing a surge in selling pressure, attributed to various factors, including high whale activity.  This volatility underscores a fragile market sentiment with local resistances impeding upward price movement. Immediate support for SHIB is identified at the 50-day Exponential Moving Average (EMA), historically serving as a dynamic bounce-back point. However, a breach below this level could further test support zones marked by previous lows. Bitcoin’s correction and technical outlook Bitcoin (BTC) has retraced from its recent high, failing to sustain above $51,000 and experiencing a notable correction. This decline follows the inability to breach the $52,000 threshold, indicating a cooldown from the market’s overheated state.  The current correction aligns with typical market behaviors following strong rallies, with local support near the 50-day EMA. However, a dip below this level may lead to further declines towards the $47,000 to $48,000 support region, followed by potential support near $43,000 to $44,000. Continued selling pressure could trigger an accelerated sell-off towards the $39,000 to $38,270 zones. XRP’s technical indicators and bearish signals XRP’s chart displays the crossing of the 100-day and 200-day EMAs, a scenario some may label a “death cross,” although it deviates from the classic definition. This event, indicative of bearish sentiment, is observed as XRP hovers above crucial support levels.  Maintaining ground above these levels is crucial for XRP to invalidate bearish signals and potentially ascend toward previous resistance levels. However, breaching these support levels could lead to a slide towards the next significant support zone.

6 days ago
TheVRSoldier
TheVRSoldier
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Solana is trading above the $100 level, but has not yet reached its 2023 high and remains inside a neutral pattern. Let’s figure out which direction to expect a breakthrough in. Solana (SOL) price has been inside a neutral pattern since its 2023 high. Let’s try to figure out what kind of breakthrough should be expected – in the northern or southern direction. Solana consolidates above $100 The weekly timeframe shows that the price of SOL has risen after falling to a low of $79 in January. Over the past two weeks, it has formed two bullish weekly candles in a row and reached a high of $119. The token closed above the long-term $100 Fibonacci level, but failed to reach its 2023 high at $126. Instead, it formed a falling high. The weekly relative strength index (RSI) is giving mixed signals. Although the indicator is above the neutral 50 mark, it has also formed a bearish divergence that often precedes downside moves. SOL Forecast The daily timeframe cannot confirm the direction of the trend due to ambiguous price dynamics and wave analysis results. source: tradingview Solana is likely trading inside a symmetrical triangle constructed from the December 25, 2023 high. A symmetrical triangle is considered a neutral pattern, meaning the price can make either a bullish or bearish breakout from it. At the time of writing, Solana value is at $104.72. However, crypto trader Altcoin Sherpa believes that SOL is in a favorable position to enter the market: “Buying around $100 seems about right; The chart is still quite volatile. I think simply buy and hold #Solana will be the best strategy for most.” $SOL : Buying around $100 seems right; this is still a pretty choppy chart. I think that just buying and holding is going to be the best strategy for most people overall. #Solana pic.twitter.com/0bGFCwXZYv — Altcoin Sherpa (@AltcoinSherpa) February 20, 2024 Solana: When to Expect a Bullish Breakout? According to the VR Soldier experts, the wave analysis suggests that the price is consolidating in anticipation of a new bullish move. Most likely, SOL is in the fourth wave of a five-wave upward movement. It is possible that the fourth wave took the form of a symmetrical triangle. If this calculation is correct, the currency will continue to consolidate in the triangle and then make a bullish breakout from it. In this case, the price could rise by almost 40% to the next resistance at $145. Despite this bullish outlook, a bearish breakout from the triangle would mean that a local top has already been reached and SOL could fall 35% to the 0.5 Fib retracement support level at $69. The post Solana Above the $100 Mark: Will SOL Break the Records first appeared on The VR Soldier.

6 days ago
TopCryptoNews
TopCryptoNews
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1 Celestia crypto has jumped above 20, 50, 100, and 200-Day daily moving averages.2 Bulls are showing their strength and extending the gains.3 Celestia crypto rallied in the previous trading sessions. Celestia’s price is trading above the key moving averages showcasing the bullishness by making a higher high structure. However, the Buyers are facing tough competition from the sellers. TradingView data shows that Celestia crypto price is trading at $16.9989 with an intraday loss of 5.45%, indicating a bullish trend. The 24-hour trading volume is 180.33 Million, and the market capitalization stands at $2.81 Billion. Technical Analysis Of Celestia Crypto On Daily Time Frame At the time of publishing, Celestia crypto (USD: TIA) is trading above the 50 and 200-Day EMAs (Exponential moving averages), which are supporting the price trend. The current value of RSI is 42.84 points. The 14 SMA is above the median line at 56.32 points which indicates that the Celestia crypto is bullish. The MACD line at 0.2811 and the signal line at 0.5761 are above the zero line. A bearish crossover is observed in the MACD indicator which signals mild weakness for the TIA crypto price. Technical Analysis Of Celestia Crypto On 4-H Time Frame Celestia crypto chart shows bearish strength and the short-term charts suggest negative outcomes in the upcoming days. Moreover, the price is trading below the major EMAs, confirming the negative signals for the upcoming days. The RSI curve is near 28.79, an oversold zone, with a negative outlook indicating bullish sentiment in the cryptocurrency. The MACD indicator also continued to form a red band and a bearish crossover appeared, indicating a corrective move on the 4-H timeframe. Technical Analysis Of Celestia Crypto On Weekly Time Frame Celestia crypto’s weekly chart shows buyers’ dominance. The cryptocurrency is in an uptrend as it jumped above a key EMA. Technical indicators also support the bullish sentiment as RSI is close to the overbought zone of 74.07 and MACD has formed a bullish crossover with the green band. These signals indicate that the cryptocurrency could face even greater upward pressure in the coming weeks. $TIA #tia #Write2Earn‬ #TrendigTopic

7 days ago
Cryptopolitan
Cryptopolitan
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Bitcoin (BTC) continues to hover around the $51,500 mark, showing signs of consolidation after recent gains. Market analysts anticipate a potential pullback in line with previous bull market patterns, particularly ahead of the upcoming block subsidy halving in April.  Despite the narrow trading corridor and resistance at $52,000, seasoned observers remain optimistic about BTC’s long-term prospects. Rekt capital’s insights and market sentiment In his recent YouTube video on February 20th, well-known trader Rekt Capital highlighted similarities between BTC’s current price action and previous bull runs in 2016 and 2020. He pointed out key phases common to both periods, emphasizing the significance of a macro downtrend break preceding upside movements before halving events.  However, Rekt Capital also noted a missing element in the current cycle: the pre-halving retrace phase, where BTC typically retests resistance before moving higher. Despite a clear pre-halving retrace, analysts like Caleb Franzen of Cubic Analytics remain unfazed by BTC’s recent rangebound movements. Franzen highlighted BTC’s stability over the past week, with prices fluctuating between $50.6k and $53k.  He dismissed panic and bearish sentiments, emphasizing the absence of significant downward movements. Echoing Franzen’s sentiment, analyst Matthew Hyland emphasized the importance of the 0.618 Fibonacci retracement level from all-time highs, which sits just above $48,000. Hyland noted that while a breach below $49k could alter the market outlook, consolidation within an uptrend typically signals a continuation of bullish momentum. Future outlook and key considerations As Bitcoin approaches its next block subsidy halving, market participants remain attentive to potential price movements. While historical patterns suggest a period of consolidation and retrace before significant upward momentum, the current market cycle presents some deviations.  The absence of a clear pre-halving retrace phase raises questions about BTC’s immediate trajectory, but overall sentiment remains cautiously optimistic.

6 days ago
RayHan bros
RayHan bros
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The crypto bulls appear to have entered a trivial consolidation phase, as the majority of them have dropped below their newly gained highs. Amid the bearish pressure, Chainlink (LINK) and Avalanche (AVAX) prices are showing some signs of a rebound. However, the bears do have a major dominance at the moment but if the bulls display some strength, the prices could erupt into the next major resistance. Chainlink (LINK) Price Analysis:The Chainlink price is heavily consolidating above the newly formed resistance-turned-to-support levels, which signals the growing strength among the bullsWith this, the DMI is suggesting the token remain under consolidation between $19 and $23 for a few weeks as the +Di & -Di may undergo a bearish crossover, which may compel the price to trade sidewaysTherefore, the levels may maintain an ascending consolidation and later undergo a bullish breakout beyond $25Besides, the depleting volume may raise some concerns, which could delay the breakout, but the token undergoing a bearish pullback could be unlikely. Avalanche (AVAX) Price Analysis:The Avalanche price has been displaying acute strength for a long time and has maintained levels around the gains Although the latest pullback has dragged the levels slightly lower, the bulls have managed to hold the price above the support, which suggests a rebound could be fast approachingThe RSI is trying to trigger a rebound at the average levels, while the MACD is flashing bearish signals. Therefore, the AVAX price may either experience equal bullish or bearish pressure or else both are expected to remain passive.In both cases, the price could remain still with negligible volatility and may initiate a flip as the selling pressure fades📌 If you find this information helpful, consider supporting me.Follow me and like,share,quotes this post.. Your generosity helps me provide quality content. #Write2Earn #TrendingTopic

8 days ago
Coinpedia
Coinpedia
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The post Solana Faces Decline Toward $100 As Active Addresses Plunge By 30%! Here’s Next SOL Price Level appeared first on Coinpedia Fintech News Solana’s value is witnessing a decline in investor interest, triggered by a drop from a key resistance level. This has plunged investor sentiment by maintaining its price around the $100 threshold. This drop in value follows Bitcoin’s rejection near the $53,000 peak, sparking a series of long liquidations throughout the market. As a result, the current bearish sentiment is supported by on-chain metrics as they indicate that Solana’s decline below immediate support lines might be nearing, with signals pointing towards a bearish pattern.   Solana’s Active Addresses Sees A Steep Decline In the past 24 hours, the cryptocurrency market experienced total liquidations exceeding $300 million, with buyers offloading positions valued at more than $220 million. Solana, in particular, saw long positions worth over $10 million being liquidated. This triggered an immediate selling pressure on the SOL price and plunged it to the support around $100. The recent drop in Solana’s price resulted from investor anxiety following a market correction when it was near its highest values. This decline was brought by Bitcoin and Ethereum’s inability to hold their positions around $53,000 and $3,000, respectively. On-chain data reveals a downward trend in Solana’s active addresses, with a reduction from a high of 1.02 million to 691,000, marking a nearly 30% decrease over recent weeks. This decline in active addresses indicates declining confidence in Solana, potentially plunging whale investors’ trust and SOL price volatility. However, the value transferred on Solana’s network has seen a recovery, bouncing back from a low of approximately $218 billion to surpass $1 trillion. This recovery in transferred value shows a positive buying sentiment towards SOL, possibly stabilizing its price from further declines. What’s Next For SOL Price? Bears currently have the upper hand on the price chart, with sellers aiming to hold the price below the crucial support level in the upcoming hours. However, buyers are putting up a strong fight to prevent a drop below the immediate Fibonacci level. At the time of writing, the SOL price stands at $102, marking a decrease of over 6.2% from the previous day’s price. Should the price not manage to rise above the $103 support line, the next support level is found around the $93 mark. If this level is compromised, SOL’s price might fall to a crucial support level at $80. A robust recovery from $80 could send the price towards the 20-day Exponential Moving Average (EMA). Crossing this level could result in the price consolidating between $108 and $80. For bulls to maintain their dominance, they need to ensure the price remains above $100. Achieving this could set the stage for targeting the subsequent significant resistance level at EMA20 and then the $116 mark. Recently, the long/short ratio for Solana has decreased, now at 0.7562, with 57% of total positions anticipating a drop in its price. 

7 days ago
Coinpedia
Coinpedia
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The post Experts Suggest This New Altcoins Instead of Investing In Solana appeared first on Coinpedia Fintech News The rapidly growing interest in Bitcoin ETFs has led to a record-breaking weekly inflow into crypto funds. As increasing amounts of capital flood into the market, experts are shifting focus to compelling opportunities offered by new altcoins. While recent trends suggest feast-or-famine returns in popular options like Solana, industry insiders propose a more diversified approach may yield better results. This exploration shines a spotlight on the potential of unexplored altcoins as a strategic investment alternative. BlastUP Presale: The 1st Launchpad in the Blast Ecosystem is Live! BlastUP is a pioneering launchpad on Blast, the cutting-edge Layer 2 solution that has rapidly reached $1 billion total value locked in just 35 days. BlastUP stands at the forefront of financial technology, championing the motto “Grow faster, earn more.” With meticulous Project Screening, BlastUP ensures that only the highest caliber projects reach its ecosystem. Additionally, the platform offers  passive income opportunities through staking and farming, underlining its dedication to fostering an equitable and rewarding environment. The BlastUP tokens presale is running, and with each new stage, their value will increase. The current price is locked at $0.04, while the price at the DEX listing is going to be $0.1. Now is the perfect time to buy BlastUP tokens at the best price with a 60% discount. >> Snatch Up BlastUP Tokens Now for Maximum Returns! << As BlastUP forges ahead, it remains committed to creating a global hub for the Blast community, supporting early-stage startups. With its community-centric approach and drive for innovation, BlastUP is rapidly gaining traction for the benefit of all participants in this ecosystem. BlastUP’s roadmap extends into 2026, promising the introduction of AI-driven tools and the Community Marketplace, further enriching the ecosystem’s capabilities. The BlastUP token, a cornerstone of the platform, unlocks access to tiered IDO launches, staking rewards, and exclusive loyalty benefits. >> Seize the Chance to Grow Faster and Earn More with BlastUP! << Arbitrum’s Potential Growth Signaled, Bullish Market Trends Observed Arbitrum’s rally in a weekly transaction volume past Ethereum signals potential growth for the altcoin, which may catalyze notable price increases. The current price at $1.98 is below both resistance levels, namely $2.28 and $2.80, but with a bullish MACD sign indicating buying wave, prices could surge. For a long-term perspective, the Simple Moving Average at 100-days is at $1.54, which also recommends a buy action; implying a strong foundation for growth. The longer-term perspective is less optimistic. The Simple Moving Average 10-days rests at $2.03, suggesting a selling sentiment. With both the RSI and Stochastic actions remaining neutral, it would be prudent to consider potential short-term fluctuations. The support levels of $1.37 and $0.98 should not be dismissed lightly. While the news of Arbitrum’s progress is positive, it’s crucial to keep an eye on these resistance and support points to better anticipate potential corrections. SEI’s Decentralized AI Venture Signals Potential Growth Amid Crypto Volatility SEI’s venture into decentralized AI carries immense potential for growth. With resistance levels set at $0.96 and $1.27, there’s already upward momentum indicated by the MACD and Simple Moving Averages over the last 10 and 100 days. A surge towards those levels in the short term, on the announcement of this news, could be followed by consolidation. On the flip side, while the market is buzzing with the possibility of increased activity spurred by AI integration, the inherent volatility of the crypto market and current neutral RSI could lead to a bearish trend. A retraction could see the asset test the support levels at $0.45 and subsequently, the $0.25 mark, especially if the market views this development with skepticism. Conclusion While other altcoins like Arbitrum and SEI hold promise in the fluctuating crypto market, it’s BlastUP that is showing the highest potential. Its innovative concept and state-of-the-art features have captured the interest of investors and tech enthusiasts. As part of the thriving Blast ecosystem, the BlastUP project could become a game-changer, offering engaging community contributions. Look beyond the beaten path and consider BlastUP, a new alternative that could revolutionize your crypto investment strategy. Site: https://blastup.io/ Twitter: https://twitter.com/Blastup_io

7 days ago
CoinEdition
CoinEdition
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FET might drop to $0.68 but the price might extend to $3 in the long term. If traders continue to book profits, WLD’s price might plunge to $5.76 before another rally. Entries between $595 and $682 could be great for TAO traders looking to hold in the short and long term. Altcoin Sherpa, a popular crypto analyst on X, told his 207,600 followers to watch AI-themed cryptocurrencies. According to Sherpa, the recent parabolic moves by some of the tokens including Fetch.ai (FET), Worldcoin (WLD), and Bittensor (TAO) do not mean that they have hit their peaks. The analyst, however, noted that the tokens might pull back. But if the prices hit the 0.236 and 0.382 Fibonacci retracement points, then traders should buy. Going to post some AI coin potential entries. Given how hard some of these are going, I would view the .236 fib and the .382 fib areas as good starter points. $FET $WLD $TAO WOULD NOT GO ALL IN on any 1 entry. DO NOT FOMO. A pullback probably coming soon. These are more for… pic.twitter.com/XfW3Sx6iOs — Altcoin Sherpa (@AltcoinSherpa) February 19, 2024 Fetch.ai (FET) FET’s price tapped a two-year peak and reached $1.12 on February 19. However, the 4-hour FET/USD pair showed that the cryptocurrency has printed a bearish candle. This resulted in a decline to $1.00. Meanwhile, a look at the 0.236 Fib level showed that the token might decrease to $0.68. In a highly bearish scenario, the price might drop to $0.64 where the 0.382 Fib level was. But as Sherpa said, a possible nosedive to these levels could serve as great entry points. In the meantime, the Relative Strength Index (RSI) had fallen to 64.84. This implies that the previous bullish momentum had subsided.  FET/USD 4-Hour Chart (Source: TradingView) Should the RSI reading continue to slide, FET’s price might drop to $0.91 within the next few days. However, in the long term, the token value could extend as high as $3 to $5. But that might only happen if the AI narrative remains very present. Worldcoin (WLD) WLD’s price hit $8 on February 19 but was quickly rejected as the price fell to $6.65. Around the same period when WLD hit $8, the Money Flow Index (MFI) hit 93.96, indicating an influx of capital into the cryptocurrency. However, the MFI at press time had declined to 44.84. This suggests that market players have been taking out their liquidity. This decrease was also a sign of profit-booking which could further draw down WLD’s price. WLD/USD 4-Hour Chart (Source: TradingView) In a highly bearish situation, WLD might plunge to $5.76 where the 0.382 Fib retracement was positioned. But if bulls can defend the price action, a good entry can appear around $6.63. Should this be the case, buying pressure might help WLD climb as high as $10. Bittensor (TAO) For TAO, signals from the Fibonacci retracement were a little different. Unlike WLD and FET which placed the 0.236 Fib level below the current price, the Fib level for TAO was at $682.83. At press time, TAO’s price was $595.19. Furthermore, the 0.382 Fib level was at $658.94. This implies that buying the cryptocurrency between $595 and $682 could serve as a good entry for traders looking to hold for the short and long term. TAO/USDT 4-Hour Chart (Source: TradingView) However, the Awesome Oscillator (AO) reading was negative, indicating increasing downward momentum. As it stands, TAO’s price might drop as low as $545. But in the long run, a push toward $1000 looks likely. The post TAO, FET, and WLD May Offer Better Buying Opportunities: Analyst appeared first on Coin Edition.

7 days ago
Coinstages
Coinstages
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The cryptocurrency community is abuzz with anticipation as XRP shows signs that point to a potential bull run in 2024. Amidst the excitement, experts call for a balanced approach, reminding investors of the unpredictable nature of the market. Recent market activities have caught the eye of investors worldwide. Notably, long-dormant whale wallets have shown signs of activity, and there’s been a noticeable uptick in capital inflows into XRP. These developments coincide with Ripple’s legal victories in its ongoing tussle with the SEC, further bolstering investor confidence. RSI and the Echoes of Past Rallies A pseudonymous crypto analyst known on X as Dark Defender has pointed out striking similarities between the current Relative Strength Index (RSI) charts for the BTC/XRP pair and those observed during the rallies of 2017 and 2021. In both instances, XRP experienced significant price surges. The patterns emerging today suggest that XRP could be on the cusp of another substantial increase, with some speculating a rise to the $2 mark. A Balanced View from TradingView Despite the optimistic signals from the RSI, TradingView offers a more tempered perspective. Its technical analysis reveals a mix of bullish and bearish signals, reflecting the crypto market’s inherent volatility. This serves as a reminder to investors about the importance of conducting comprehensive research before committing to investment decisions. Looking beyond the charts, XRP’s fundamental value proposition as a tool for cross-border payments in Ripple’s On-Demand Liquidity network is a significant factor in its long-term potential. Ripple’s recent partnerships with major financial institutions, including Santander and Standard Chartered, underscore XRP’s growing role in streamlining global financial transactions. The SEC Lawsuit: A Turning Point? The ongoing lawsuit with the SEC looms large over XRP, yet some see a silver lining. A resolution favorable to Ripple could provide much-needed regulatory clarity, potentially paving the way for broader institutional adoption and a positive shift in investor sentiment. Forecasting the trajectory of any cryptocurrency is fraught with challenges, and XRP is no exception. While some positive signs and developments suggest a bullish future, uncertainties remain. The overall health of the crypto market, evolving regulatory frameworks, and the outcome of the SEC lawsuit will all influence XRP’s path forward. Investors are encouraged to maintain a cautiously optimistic stance. It’s crucial to understand the technical indicators, underlying fundamentals, and the context of the broader market. As the potential for a 2024 bull run looms, diligent research and sound risk management are advised. ⚠️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. #XRP🚀

8 days ago
koinmilyoner
koinmilyoner
followers

🌕Too Late to Buy VeChain? 🌕Amid institutional layer-1 VeChain's remarkable rise, many wonder whether it's too late to join. 🌕This essay will analyze VET's price movements and determine whether Scotty AI, a new AI meme currency, is a better investment. 🌕VeChain holders are already hyped up over rumors of a possible listing on leading US exchange UpHold, and the skyrocket sentiment is clear on crypto X (Formerly Twitter), with VET holders jubilant and teasing major price targets. 🌕As VeChain Price Rises, Is It Too Late to Buy? 🌕VeChain is trading at $0.044 (a 24-hour move of -1.54%) after falling from a local high. 🌕After rejection from topside resistance at $0.051 on February 16, downside moves grab activity locally, with a -16% roll-back. 🌕However, well-defended support around $0.045 suggests price consolidation at current levels. 🌕VeChain price analysis: Is it too late to purchase after 50% pump? Continue reading. 🌕Growing divergence from the 20DMA (now $0.034), which has supported VET's upward since October, raises concerns. 🌕The VET price is much above this important support, therefore retesting it might cause a -22% drop. 🌕The 200DMA is rising, but below the trading channel at $0.025. 🌕The RSI's overheated bearish divergence at 77.7 signals price may retreat. 🌕The MACD indicator, which shows VET's bullish momentum at 0.0015, disagrees somewhat. 🌕VET price analysis shows a positive long-term perspective with short-term retracement danger🌕 🌕VeChain price analysis: Is it too late to purchase after 50% pump? Continue reading. 🌕Above $0.0488, VET price might rise +10.27%. 🌕To the negative, VET price might drop to $0.0388 (-12.4%). 🌕Thus VET price analysis shows a risk-reward ratio of 0.83, indicating a weak entrance overshadowed by short-term retracement risk. 🌕VET price analysis is unattractive for now, but another play might be large once the AI story returns to crypto markets. #VET #Write2Earn #TrendingTopic

8 days ago
Crypto Daily™
Crypto Daily™
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The crypto market is buzzing with excitement, fueled by the recent surge in Ethereum price, which tantalizingly approached the $3,000 milestone. The second-largest cryptocurrency reached $2,980 on Monday, February 19, its highest level in 22 months, and reignited speculation about the coming altseason. Apollo Capital's Henrik Andersson shared this sentiment, pointing to Ethereum's impending updates and the mainnet launches of scaling solutions. Amidst this optimistic backdrop, one of Ethereum's most popular scaling solutions, Optimism (OP), soared over 10% in the past week to hit $4.1 before the price started correcting gains. However, not all players are enjoying the same upward trajectory. Competing scalability-focused blockchains like Cosmos (ATOM) and NEAR Protocol (NEAR) are experiencing a downturn, with both tokens showing bearish trends in today's trading session.  In this dynamic and somewhat unpredictable market landscape, the next developments for ScapesMania (MANIA) are drawing attention. Although its presale stage has concluded, the anticipation for its forthcoming Token Generation Event (TGE) and decentralized exchange listing is palpable. 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 <<< Optimism (OP): Scaling New Heights A favorite among developers, Optimism (OP) scales the Ethereum network while leveraging its security. Following a boost in investor sentiment, partly driven by the introduction of the Bitcoin ETF, OP experienced a bullish wave, further bolstered by recent strategic moves, such as allocating 2 million OP tokens to the DeFi layer-2 (L2) network Mode. Source: TradingView Optimism (OP) recently surpassed the $4 mark, aligning with the overall bullish sentiment surrounding Ethereum. Currently, OP is trading between its support at $3.5 and resistance at $4.3, indicating a critical juncture in its market positioning.  Optimism (OP) Technical Analysis From a technical standpoint, OP's Exponential Moving Averages (EMAs) present a bullish scenario; the 10-day EMA at $3.9, the 50-day EMA at $3.7, and the 200-day EMA at $3.4 all suggest a sustained upward trend. The Relative Strength Index (RSI) at 64.3 leans towards overbought territory but isn't extreme, indicating strong buying interest. The Stochastic %K, at 58.5, supports this, showing momentum without being overextended. The Commodity Channel Index (CCI) at 138.7 and the MACD level at 0.057 also reinforce the bullish sentiment, while the Momentum indicator at 0.236 suggests increasing buying pressure. However, the Average Directional Index (ADX) at a low 22.9 suggests a lack of strong trend strength.  Optimism (OP) Price Prediction In a bullish scenario, if Optimism (OP) maintains its current trajectory and investor interest remains high, we could see OP testing the next resistance level at $4.8. This outlook aligns with the optimistic forecasts projecting Optimism's (OP) growth towards $10 by 2025. However, in a bearish scenario, challenges such as intense competition in the scaling solution space and concerns over market volatility due to limited token circulation could apply downward pressure. If these factors become prominent, OP might retreat towards $3.2, or even lower to $2.7. Cosmos (ATOM): Charting the Recovery Path Cosmos (ATOM) has recently been navigating choppy waters, grappling with persistent bearish sentiment. The token dropped by 14% in January, plummeting below the local high of $12.227. However, recent market trends suggest a potential shift in this narrative. Despite the earlier setbacks, ATOM exhibited resilience, with its weekly price chart reflecting a modest 3% uptick. This upward movement extends into the monthly timeframe, where Cosmos (ATOM) has almost clinched a 6% gain. Source: TradingView This gradual yet steady growth, particularly following the pronounced bearish phase in January, signals a potential reversal in fortunes for the token. Market analysts are now increasingly optimistic, forecasting a possible resurgence for ATOM in the weeks ahead. Now, ATOM is currently navigating a critical phase, trading between its first support level at $9.78 and the first resistance level at $11.03. Cosmos (ATOM) Technical Analysis Cosmos' (ATOM) 10-day EMA at $10.53 is slightly above the current price, indicating a mild bearish pressure. However, the 50-day and 200-day EMAs at $10.29 and $9.93, respectively, suggest underlying support, offering a silver lining for potential bullish momentum. The RSI at 47.16 is hovering near the neutral 50 mark, hinting at a balanced sentiment among traders. The Stochastic %K at 29.18 and the CCI at -17.84 further reinforce this neutral-to-bearish outlook. Meanwhile, the ADX at a low 20.14 indicates a lack of strong trend, and the MACD level of 0.081 coupled with negative Momentum at -0.228 underlines the need for caution. Cosmos (ATOM) Price Prediction In the bullish scenario, if ATOM successfully breaks above $11.03, it could trigger a wave of buying interest, potentially pushing the price towards $11.46 and $12.71 levels. This movement would be supported by a crossover in the EMAs, particularly if the short-term EMA crosses above the longer-term averages.    Conversely, in the bearish case, a failure to sustain above $9.78 could see Cosmos (ATOM) retesting lower support levels at $8.96 and $7.71. This would be accompanied by a further decline in the RSI below 45 and a continuation of the negative trend in the Stochastic and MACD indicators. NEAR Protocol (NEAR): Analyzing the Shift from Bear to Bull NEAR Protocol (NEAR) has recently shown signs of resurgence, breaking away from its bearish trend that dominated most of January. This shift in momentum is evident in its recent market performance, where NEAR has experienced a noteworthy uptick of over 7% in the past week and an impressive 12% increase month-to-date. Source: TradingView Despite this positive trend, NEAR is still trading below its year-to-date high of $4.3, reached on December 27, 2023. Currently positioned between the first support at $3.2 and the first resistance at $3.71, the token is navigating a crucial phase in its price trajectory as it potentially gears up for a continued rally. NEAR Protocol (NEAR) Technical Analysis From a technical analysis standpoint, NEAR Protocol's (NEAR) EMAs provide a bullish signal, with the 10-day EMA at $3.46 slightly above the 50-day EMA $3.34, indicating short-term momentum. However, the 200-day EMA at $3.13 suggests a need for caution, reflecting the longer-term trend. The ADX at 25.52, still below the threshold of 25, hints at a lack of strong trend. The CCI at -17.33 is near the zero line, suggesting a balance between buying and selling pressures. The RSI at 45.79 is near the neutral 50 mark, neither strongly bullish nor bearish. The Stochastic %K is under 40, typically a sign of a potential turnaround. The MACD Level at 0.038 is marginally positive, but the negative Momentum at -0.157 calls for a cautious approach. NEAR Protocol (NEAR) Price Prediction In the bullish scenario, if NEAR manages to break past $3.71, it could be en route to test the second resistance at $3.91. A sustained bullish momentum could even propel NEAR towards the $4.42 mark, aligning with analysts' projections for Q1 of 2024. Conversely, in a bearish scenario, failure to hold above $3.2 might see NEAR Protocol (NEAR) sliding towards the second support level at $2.88. A breach below this could lead to a retest of the third support at $2.37, marking a significant retreat from its current levels. Final Thoughts In today's crypto market, Ethereum's surge is casting a spotlight on its scaling solution, Optimism (OP), which is experiencing a significant rally, while competitors like Cosmos (ATOM) and NEAR Protocol (NEAR) face varied fortunes. But despite recent struggles, ATOM shows signs of a recovery path, with a modest uptick hinting at a possible market sentiment reversal. NEAR, after a period of bearish trends, is also witnessing a resurgence, indicating a potential shift towards a bullish trajectory. Whether you’re dabbling in digital currencies or going all-in, making sure you’re clued-up can make or break your experience. Remember this – you don’t want yesterday’s news guiding today’s decisions! Keep learning and stay flexible; that way, you'll be more likely to ride out any storm and catch those high waves when they come rolling in. 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.

8 days ago
CaptainAltcoin
CaptainAltcoin
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XRP saw its price plunge over 70% amidst the fallout from the SEC’s ongoing lawsuit against Ripple Labs. However, signs of a potential trend reversal have emerged in recent weeks, with technical analysts identifying a textbook chart setup that could propel prices back toward critical resistance around $0.84. Bump and Run Formation Signals Bullish Breakout According to crypto trader taztrader, XRP’s price structure exhibits the early signs of a bullish bump and run reversal pattern. This setup entails an initial break above a key downtrend resistance, a retest of that broken trendline to confirm its new role as support, and finally a resumption upwards to target major overhead resistance. Taztrader stated, “XRP looks to be on the verge of breaking out to the upside with a Bump and Run type chart.” With XRP rallying from its 2023 lows to clear its former bearish trendline, taztrader believes the next leg toward horizontal resistance around $0.84 has likely already begun. Given the historically volatile price action associated with the Ripple token, he expects an accelerated move could materialize quickly. Bolstering the bull case, taztrader also highlights constructive technical developments on key ratio charts – namely outperformance emerging against both Bitcoin and Ethereum. With altcoins showing tentative signs of bouncing, rotations into left-behind tokens like XRP may soon pick up pace. Sharing a timeline, Taz mentioned that the move to $0.84 could happen in the next 3–4 weeks. Decisive Break Above $0.55 Validates Uptrend Offering an additional layer of insight, altFINS points to a decisive break above the psychologically-key $0.55 mark that capped the XRP price. With this level now surpassed, improved technicals reflect increasing upside conviction. Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger! The key? Getting in early, especially during the IDO phase. Get in on NuggetRush now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the current ICO prices! Show more +Show less – Namely, altFINS’ automated pattern recognition identifies a bullish breakout from the boundaries of a downtrend channel that can precipitate swift moves upwards. Initial upside potential of $0.68 translates to 24% prospective gains from breakout confirmation. While the long-term downtrend remains intact for now, the door appears open for XRP to surge. For embattled XRP investors, the glimpses of renewal on the price charts provide vital relief. Still, the specter of SEC regulation continues to limit significant institutional adoption. Once legal uncertainties get resolved, the shackles may unlock for Ripple to regain its former luster. You may also be interested in: Kaspa’s KAS Token Soars to New Heights, Surpassing Cosmos (ATOM) and Theta (TAO) Filecoin (FIL) Eyes Tripling to $25 as Technicals Turn Bullish and Solana Partnership Catalyzes Growth The 5 Best Altcoins to Watch in February 2024: Which Altcoin Will Explode in 2024? Check NuggetRush ($NUGX) Sponsored: Invest Responsibly, Do Your Own Research. Buy NUGX Today Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices A unique play-to-earn gaming platform in the memecoin market The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience Fosters a strong community by encouraging physical meetups among members NFT Integration with Prominent Characters The post Ripple (XRP) on the ‘Verge of a Bump and Run Type Chart Breakout’: Analyst Shares Next Target And Timeline appeared first on CaptainAltcoin.

9 days ago
Coinpedia
Coinpedia
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The post Bitcoin’s NVT Ratio Signals Overheated Sentiment! Here’s Why BTC Price Needs A Retest appeared first on Coinpedia Fintech News Bitcoin price continues to maintain its bullish momentum, remaining above the $52K threshold as investor confidence is triggered by bullish on-chain ETF reports. Despite this, the surge in purchasing demand for BTC raises alarms about a potential decline ahead, influenced by an overheated market sentiment as highlighted by various on-chain metrics. Such a scenario could necessitate a retest of Bitcoin’s immediate support levels to stabilize the current momentum. Bitcoin’s NVT Ratio Skyrockets According to the latest report by CoinShares, crypto funds from asset managers like BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares saw inflows totaling $2.45 billion globally in the last week. This surge was largely driven by the launch of new U.S. spot Bitcoin exchange-traded funds, bringing the total inflows into digital asset investment products for the year to $5.2 billion. With the recent uptick in prices, the assets under management (AUM) at these crypto investment firms have reached $67 billion, marking the highest level since December 2021 during the climax of the previous bull market, as pointed out by James Butterfill, the Head of Research at CoinShares. As a result, the BTC price is experiencing positive momentum, consistently staying above the $52K mark. Yet, multiple on-chain metrics are now signaling an overheated sentiment for the BTC price, suggesting a potential need for a price correction. Among these indicators, the NVT ratio (Network Value to Transactions) has notably increased, currently standing at 133.2. This indicates that while Bitcoin’s network value has surged with the price hike, the volume of transactions has not seen a comparable increase, pointing towards a possible overvaluation. Furthermore, the Netflow metric has recently experienced a significant rise, moving into the positive territory. This indicates that inflows are exceeding outflows for Bitcoin, leading to an increase in exchange reserves. Such a trend could bring a price correction for BTC. However, such retests might strengthen the buying momentum. What’s Next For BTC Price? Bitcoin is facing resistance at the $52,000 mark, with attempts by sellers to push the price below $50,000. However, buyers continue to defend a decline strongly. As of writing, BTC price trades at $52,122, surging over 0.7% from yesterday’s rate.  A potential challenge to the rally’s sustainability is the Relative Strength Index (RSI) heading toward the midline, hinting at a correction in the short term. For a bearish shift to be confirmed, sellers need to push the price below the 20-day exponential moving average ($51,880), potentially leading to a downturn towards the $50K level. To enhance the chances of climbing to $55,000, buyers must breach the $52,800 resistance. On the other hand, to plunge the upward momentum, bears must pull the price below the moving averages, potentially triggering a fall to the breakout point of $48,300. While bulls are likely to defend this level aggressively, a breach could see the price dropping to $47,000 and possibly further to $44,800.

9 days ago
CryptoVIPGems
CryptoVIPGems
followers

Ripple Restraint: $XRP 4-Hour Chart Signals Cautious Times Ahead 📉 In the latest snapshot of the 4-hour chart, #RippleXRP seems to be threading through a pivotal zone. Hovering around $0.56, the currency is painting a picture of short-term indecision just beneath the Simple Moving Average—a signal to traders that the winds might be changing. With each candlestick's close beneath the SMA, the plot thickens and the short-term sentiment tilts—a subtle nudge suggesting that the next chapters for #XRP/USDT may be penned by the bears. The trendline above serves as a testament to the resistance that has been building, a hurdle that's proving increasingly challenging to overcome in the immediate term. The convergence of higher lows and lower highs is tightening like a coil, a classic prelude to a decisive move. In such short-term scenarios, these converging lines often foretell a breakout, and while the direction remains unclear, the recent undercurrents suggest a bearish bias. For those navigating these short-term waters, caution is the watchword. The market's whispers hint at a potential shift, a reminder that vigilance is the companion of the wise. As always, this reflection is not financial advice, but a momentary glimpse through the lens of technical analysis. Keep your strategy nimble and your eyes on the horizon. Stay attuned to the subtle shifts of the market's mood #xrparmy #TrendingTopic #Write2Earn‬

9 days ago
Coinstages
Coinstages
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The weekend’s quiet spell in the cryptocurrency market seems ready to break as assets start to regain confidence. On Sunday night, the big cryptocurrencies were doing well, with prices mostly going up. The total value of all cryptocurrencies combined had gone up by 0.9% from the day before, reaching $1.96 trillion. Dogecoin Faces Potential EMA Cross: Analysis and Outlook An imminent event on Dogecoin’s technical charts is causing a stir in market sentiment: the impending cross of the 50-day and 100-day EMA. While EMA crosses are common indicators of trend shifts, they aren’t foolproof and can sometimes cause misunderstandings in the market. Currently, Dogecoin is on the brink of this significant EMA cross, which could inject volatility into the market. If the 50-day EMA falls below the 100-day EMA, known as a “death cross,” it may be interpreted as a bearish signal, potentially prompting increased selling pressure. Conversely, a “golden cross” occurs when the 50-day EMA surpasses the 100-day EMA, often seen as a bullish sign. Examining the price chart, Dogecoin is maintaining levels above the critical support at $0.080, which has proven to be a robust base recently. Sustaining this level is vital for preserving the current trend. On the upside, resistance is evident around $0.0845, where previous attempts to advance have been met with rejection. A definitive breakthrough above this resistance could pave the way for further growth, potentially leading to a test of the psychological barrier at $0.090. Cardano Nears 2023 Peak: A Promising Outlook Cardano is on the verge of reclaiming its peak price levels from 2023, with ADA currently targeting the $0.65 to $0.70 range. This zone served as the pinnacle of its market value last year, signifying a significant milestone in its journey. This upward movement not only enhances profitability for early investors but also strengthens Cardano’s position as a promising asset within the crypto landscape. The recent price movements of ADA indicate a robust momentum, as the token steadily appreciates in value. The price action is notably bullish, with ADA now challenging the resistance levels established in the previous year. A breakthrough above this range could herald a new era of confidence and growth for Cardano, potentially attracting increased investor interest and capital influx. The growth drivers for ADA are diverse, including the ongoing development of decentralized finance (DeFi) solutions on the Cardano network, as well as a general uptick in market sentiment toward altcoins. These factors combined contribute to the positive trajectory and promising outlook for Cardano’s future. Solana’s Hidden Growth Potential: Chart Analysis Solana is currently exhibiting intriguing chart patterns that suggest untapped potential for growth. A comparison of SOL’s price movement with Ethereum reveals the formation of an inverse double bottom pattern, typically associated with bullish reversals. This pattern signals the potential end of a downtrend and the beginning of an upward trajectory, indicating that Solana may be primed for a significant rally. Despite the formation of a local double top, which some may interpret as a bearish signal, a broader analysis of the chart suggests that this does not necessarily negate the bullish potential indicated by the inverse double bottom. While the double top may introduce short-term resistance, it does not overshadow the bullish implications of the double bottom formation. Currently, Solana is trading near a critical point where the 50-day moving average intersects with a significant support level, around the 0.0038 ETH mark. This support is vital for maintaining the bullish outlook, and if Solana holds above this level, it would confirm the strength of the support and could propel further gains. On the resistance side, close attention should be paid to the 0.0040 ETH mark, corresponding to the recent double top’s peak. A breakout above this resistance level could validate the inverse double bottom pattern and pave the way for a more robust upward movement. The subsequent key resistance is likely to be encountered at the 0.0042 ETH level, where previous attempts to advance were met with resistance. ⚠️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. #DogeCoin #cardano #Solana

9 days ago
CRPTOHOLICS
CRPTOHOLICS
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📢LET'S TALK ABOUT WLD TOKEN PRICE PREDICTION AND TECHNICAL ANALYSIS The price of Worldcoin (WLD) has experienced a notable surge, marking a remarkable 17% increase over the last 24 hours, according to CoinMarketCap data. As of the latest data, WLD is valued at $5.26, although it had briefly attempted to reach $5.50 before undergoing a slight retreat. This surge is particularly noteworthy as it occurred during a period of general market downturn for many cryptocurrencies. Coin Edition, however, has identified a key catalyst for this surge – on February 17, Worldcoin announced via its official channels that the World App has surpassed 1 million daily users. The World App serves as the local wallet for the Worldcoin project and is designed to offer digital identity and global financial services to its user base. This milestone suggests a remarkable level of project adoption, resulting in increased demand for SAI. From a technical standpoint, WLD successfully surpassed the $4.55 resistance level. Insights from the Exponential Moving Average (EMA) indicate a bullish short-term outlook for the token. At the time of reporting, the 9 EMA (blue) stands at $4.83, while the 20 EMA (yellow) is at $4.33. The crossing of the 9 EMA above the 20 EMA signals an upward trend for WLD. Furthermore, the token's price has exceeded both EMAs, affirming that buyers currently dominate the market. If WLD maintains its position above the EMAs, there is potential for a price retest at $5.50. However, a word of caution is given for short-term profit-taking scenarios, where the World Bank might close below $4.83, possibly triggering a 10% correction for the cryptocurrency. Considering a bearish perspective, there is a downside risk with the potential for WLD to fall to $4.17. Conversely, if bullish momentum persists, the price could see an upward movement towards $6. #Write2Earn #TrendingTopic #BTC #Write2Earn

10 days ago
Crypto Daily™
Crypto Daily™
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In today's cryptocurrency market, Bitcoin rebounded past the significant mark of $52,200. Despite this surge, its trading volume interestingly dipped by 10%, resting at $19.78 billion, while maintaining a towering market cap of $1.03 trillion. Ethereum, a major player in the altcoin domain, isn't far behind, registering a 3% increase to above $2,900 and boasting a market valuation of $349.7 billion. Ethereum's trading activity also saw a notable hike, with its volume gaining 28%, almost touching $24.6 billion. In the midst of these market movements, Ripple (XRP) recovered past $0.56. Yet, like Bitcoin, it experienced a 10% fall in trading volume, down to $819 million. Despite this, XRP holders saw nearly 8% weekly gains, hinting at an underlying resilience. As the calendar flips closer to February 20th, Ripple (XRP) is girding itself for a pivotal chapter in its courtroom saga with the SEC – this next act promises to peel back layers of the case during discovery related to remedies and could very well be packed with surprises. Amidst this landscape, ScapesMania (MANIA), although having concluded its presale stage, is generating buzz as its coming DEX listing approaches. This next step for MANIA isn't just another update; it's set to throw open the doors to an even wider audience. 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 <<< Ripple (XRP) on the Edge: Lawsuit Outcome to Set Future Course The Ripple (XRP) market was abuzz with activity, especially in light of the recent developments in the SEC v. Ripple lawsuit. As the legal battle approached a critical juncture on February 20th, with the formal end of its remedies-related discovery phase, Ripple was granted an extension to compile post-complaint institutional sales data, which had a noticeable impact on XRP's market behavior. Source: TradingView Currently, Ripple (XRP) is trading between the key levels of support at $0.5209 and resistance at $0.5864. The market is closely watching these levels as they determine XRP's short-term price trajectory. Ripple (XRP) Technical Analysis From a technical perspective, Ripple's (XRP) Exponential Moving Averages (EMAs) - 10-day at $0.5587, 50-day at $0.5463, and 200-day at $0.5403 - suggest a cautiously optimistic trend, with the price hovering above all three EMAs. The Relative Strength Index (RSI) at 57.15 indicates a neither overbought nor oversold condition, providing room for movement in either direction. However, the Stochastic %K at 82.71 leans towards an overbought territory, hinting at potential price correction. The Average Directional Index (14) at 18.96 shows a lack of strong trend, and the MACD Level (12, 26) at 0.004 reinforces this indecisiveness. These technical indicators, combined with the uncertainty surrounding the lawsuit's outcome, make XRP's near-term price direction somewhat unpredictable. Ripple (XRP) Price Action – What’s Next? In the bullish scenario, Ripple's (XRP) resilience is underscored by the recent accumulation by large wallet holders, as reported by Santiment. Coupled with a decline in whale transactions and slowed profit-taking, this suggests a potentially bullish outlook. If buying pressure increases, bolstered by a favorable outcome in the legal proceedings or positive market sentiment, XRP could retest $0.5864 and possibly eye the next barriers at $0.6158 and even $0.6813. On the flip side, the bearish scenario takes into account the recent loss of momentum by the bulls over the weekend and the shedding of XRP holdings by small holders and retail investors. If bearish pressures persist and buying pressure fails to materialize, Ripple (XRP) could see a downturn, potentially retesting $0.5209 and even the lower support levels at $0.4847 and $0.4191, with the ongoing legal developments adding to the uncertainty. In both scenarios, the coming key date in the SEC lawsuit looms large, poised to significantly influence XRP's market trajectory. Bottomline The coming key date in the SEC lawsuit is set to be a decisive factor in shaping Ripple's (XRP) future market trajectory. Currently trading between pivotal support and resistance levels, XRP's price action reflects a cautiously optimistic trend, as indicated by its EMAs. However, the mixed signals from technical indicators such as the RSI and Stochastic, coupled with the uncertainty of the lawsuit's outcome, render Ripple's (XRP) near-term direction unpredictable. The market's response to the impending legal developments will determine whether XRP stays resilient or succumbs to bearish pressures. 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.

9 days ago
CoinEdition
CoinEdition
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The MACD and Aroon indicator revealed a bearish bias for XRP. XRP’s price might decline to $0.48 if bulls fail to defend the $0.52 support.  The Supertrend on the daily timeframe suggested a sell signal for the token. Ripple (XRP) price fell to the $0.55 support as bulls failed to push the price higher. According to CoinMarketCap, the decrease meant that XRP has lost 10.54% of its value on a Year-To-Date (YTD) basis. From the 4-hour XRP/USD chart, a short-term bullish move to $0.60 might be invalidated. One of the reasons for this prediction could be linked to the resistance at $0.58.  XRP/USD 4-Hour Analysis Bulls had attempted to push the price of XRP higher. But bears gained momentum, highlighting how bullish had lost control of the market. Under a strong bullish influence, XRP might return to $0.58. But this would require an increase in buying pressure which the token currently lacked. But a highly bearish situation might send XRP downwards. If this is the case, the price might pull back to $0.52. Ability to defend the $0.52 support might trigger a rebound. However, if bulls lose hold on $0.50, the next level XRP might hit could be around $0.48.  Signals from the Moving Average Convergence Divergence (MACD) indicated an increasing bearish momentum. First, the longer EMA (orange) had flipped the shorter EMA (blue). Furthermore, the MACD reading was negative at -0.0023. Should buying pressure fail to appear, then XRP’s price might have no other option than to slide more than it has done lately. Besides the MACD, the Aroon indicator also supported a bullish thesis. At press time, the Aroon Up (orange) was 7.14% while the Aroon Down (blue) was 71.43%. XRP/USD 4-Hour Chart (Source: TradingView) This disparity implies that bears’ presence in the market was much more than bulls. If this is the case for most of the new week, XRP might not cross the $0.58 overhead resistance. However, consolidation looks likely for the token as it could trade between $0.53 and $0.56 in the short term. XRP/USD Daily Analysis On the daily timeframe, the Relative Strength Index (RSI) was 58.01. This reading was a decrease from what the reading was on February 15. As of then, the RSI was 63.53 as XRP’s price increased to $0.57. Therefore, the decreasing momentum was proof that a further uptrend looked unlikely in the short term. Coin Edition considered the Supertrend indicators. At press time, the red region of the Supertrend was above XRP’s price, indicating a sell signal. XRP/USD Daily Chart (Source: TradingView) As it stands, it might be difficult for XRP to regain bullish momentum this new week. But a change in the broader market sentiment could help XRP rebound For now, a decline below $0.55 seems like the likely option for the token. The post XRP’s Price Flashes Sell Signal: Is $0.48 a Likely Target? appeared first on Coin Edition.

11 days ago

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