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金十数据APP
金十数据APP
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Bitcoin’s dominance remains strong, accounting for 52% of the market capitalization, but on-chain and technical data indicate that the spring of altcoins may be coming. Bitcoin experienced a sharp correction on February 20, falling from an intraday high of $53,019 to a minimum of $50,812, a drop of up to 4%, nearly erasing the gains of the past seven days. This pullback caused traders to reassess the overall state of the cryptocurrency market, sparking debate over whether altseason has arrived. What is the reason for the Bitcoin price correction? Traders and market analysts believe that the market during the Bitcoin halving cycle is divided into five stages. Before the halving, it will experience a sustained price plunge and correction, and then enter a parabolic upward trend after the widely expected halving. Cryptocurrency trader and analyst Rekt Capital said on February 15 that Bitcoin has “one last pre-halving retracement” left before resuming its upward trend. Independent market analyst Sjuul pointed out that Bitcoin's financing rates are high and warned traders to "expect a comprehensive adjustment." However, he also pointed out that "In my opinion, this is the bargain-hunting opportunity we're all looking for." Over the past two weeks, stablecoin holders with between $10,000 and $100,000 have accumulated $44.3 million in USDT. This suggests they may be preparing to buy the dip on a pullback. Market intelligence firm Santiment believes that big moves by mid-sized traders are often excellent signals to take profits and buy on dips. altcoin

4 days ago
Yekoikoi
Yekoikoi
followers

#WLD The previous decline was a retracement, which was the initial supply. Then there will be a rush to buy in the future. Let’s see how much volume the AI ​​faucet can explode and how high it can be pulled~ Brothers who make money, Post a list, Makes me envious. 🤡🤡🤡 $WLD

3 days ago
深潮 TechFlow
深潮 TechFlow
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Written by: Mary Liu, BitpushNews Bitcoin retreated again on Tuesday, falling as much as 4% from an intraday high of $53,019 to a low of $50,812, with the price having since recovered to trade at $52,330 at press time, down 0.15% in the past 24 hours. Over the past week, the price of Bitcoin has roughly ranged between $51,000 and $52,500. Ethereum, the second-largest crypto asset by market capitalization, followed a similar trend, falling to $2,900 after surpassing $3,000 for the first time since April 2022. What's behind the Bitcoin price correction? Cryptocurrency trader and analyst Rekt Capital shared the chart below in an X post, saying Bitcoin has “one last pre-halving retracement” left before resuming its uptrend. Independent market analyst Sjuul noted that Bitcoin's funding rates are high, warning traders to "expect a full correction. In my opinion, this is the bargain-hunting opportunity we are all looking for." Market intelligence firm Santiment noted that "big moves by mid-sized traders are often excellent signals" for taking profits and "buying the dip." “Stablecoin holders with $10,000 to $100,000 added $44.3 million in USDT over the past 2 weeks,” suggesting they may

5 days ago
AMBCrypto
AMBCrypto
Worldcoin bulls rejected at $8 – How far will the retracement go?
5 days ago
海碧
海碧
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Binance Real Quantitative Investment 20 I haven’t said hello to my brothers at Binance for a long time. I haven’t had a solid year this year. I’ve been sick and bumped into people. The only thing I’m thankful for is that our quantitative strategy has been running. The Spring Festival bull market has made a lot of profits. . This one entered the market on January 25th, with 130,000u customers, nearly a month's profit, and a total profit of 8,000u. He just opened the quantitative strategy and ran it himself. The income is very considerable. Not only does it fully capture the bull market, but it also does not miss any fluctuation band and is on duty 24 hours a day, just for profit. Many friends have asked me privately about the most common things, and I will explain them here. 1. The quantitative strategy is carried out on the server. You only need to open the API. Your funds are in your own account. The strategy cannot touch your funds, so your funds are 100% safe and we will not ask you to transfer funds. Therefore, quantitative investment is not a scammer. 2. To open the api whitelist, you need to specify the currency, so it is impossible to have a strategy to open spam coins casually, and knocking on the api will cause the loss of account funds. 3. All transactions are recorded by Binance, the spot is quantified, safe and reliable, and there is basically no retracement. Regarding testing and trials, since it is spot quantification and not a contract, there is no risk of liquidation. The starting capital is 1500u and the testing period is free. Welcome all friends to consult and understand. . The funds we currently use to run strategies on Binance, all users combined, have exceeded 1.5 million u, and we are increasing the value of our assets together with hundreds of currency speculators!

3 days ago
海碧
海碧
followers

Binance Real Quantitative Investment 20 I haven’t said hello to my brothers at Binance for a long time. I haven’t had a solid year this year. I’ve been sick and bumped into people. The only thing I’m thankful for is that our quantitative strategy has been running. The Spring Festival bull market has made a lot of profits. . This one entered the market on January 25th, with 130,000u customers, nearly a month's profit, and a total profit of 8,000u. He just opened the quantitative strategy and ran it himself. The income is very considerable. Not only does it fully capture the bull market, but it also does not miss any fluctuation band and is on duty 24 hours a day, just for profit. Many friends have asked me privately about the most common things, and I will explain them here. 1. The quantitative strategy is carried out on the server. You only need to open the API. Your funds are in your own account. The strategy cannot touch your funds, so your funds are 100% safe and we will not ask you to transfer funds. Therefore, quantitative investment is not a scammer. 2. To open the api whitelist, you need to specify the currency, so it is impossible to have a strategy to open spam coins casually, and knocking on the api will cause the loss of account funds. 3. All transactions are recorded by Binance, the spot is quantified, safe and reliable, and there is basically no retracement. Regarding testing and trials, since it is spot quantification and not a contract, there is no risk of liquidation. The starting capital is 1500u and the testing period is free. Welcome all friends to consult and understand. . The funds we currently use to run strategies on Binance, all users combined, have exceeded 1.5 million u, and we are increasing the value of our assets together with hundreds of currency speculators!

3 days ago
MarsBit News
MarsBit News
followers

Original author: Mary Liu Original source: BitpushNews Bitcoin retreated again on Tuesday, falling as much as 4% from an intraday high of $53,019 to a low of $50,812, with the price having since recovered to trade at $52,330 at press time, down 0.15% in the past 24 hours. Over the past week, the price of Bitcoin has roughly ranged between $51,000 and $52,500. Ethereum, the second-largest crypto asset by market capitalization, followed a similar trend, falling to $2,900 after surpassing $3,000 for the first time since April 2022. What's behind the Bitcoin price correction? Cryptocurrency trader and analyst Rekt Capital shared the chart below in an X post, saying Bitcoin has “one last pre-halving retracement” left before resuming its uptrend. Independent market analyst Sjuul noted that Bitcoin's funding rates are high, warning traders to "expect a full correction. In my opinion, this is the bargain-hunting opportunity we are all looking for." Market intelligence firm Santiment notes that “big moves by mid-cap traders are often excellent signals” for profit-taking and “buying the dip.” “Stablecoin holders with $10,000 to $100,000: Added $44.3M in USDT in the past 2 weeks,” this shows.

5 days ago
李聖庭win
李聖庭win
followers

Ethereum still only conducted a strong pressure test on the high point of 3030 last night, but the result was obviously no breakthrough. This also led to the emergence of a double top structure in four hours. According to the current daily trend, Bitcoin has already shown a sentiment of smashing the market. Changes, although Ether's daily market closed in the red, the decline is still not too strong. The key point now is to see whether the 4-hour MA30 can be effectively broken. The current price of the 4-hour MA30 is around 2930. If this ultra-short-term pushback sentiment still fails to cause damage to MA30, the subsequent currency price will continue to rise to the 3030-3050 area for ultra-short-term washouts. If the 4-hour MA30 can be effectively broken through, it means that Ether will start a large-level retracement repair adjustment. From the perspective of the 4-hour MA30 daily moving average, as long as it is effectively broken below, it means smashing the market and increasing the volume. In the past two days, short-term bulls seem to have no energy to continue to rise. Of course, I don’t know if it is Gouzhuang’s deceitful trick. Based on technology alone, It is said that this is already a manifestation of immeasurable gains for the bulls. At present, Ethereum is still in a strong upward stage, and there are also serious mistakes in technology. I still hope that everyone can refer to it rationally and make subsequent short-term market judgments mainly based on the 4-hour MA30 daily moving average. #BTC #ETH $BTC $ETH

3 days ago
CryptoNewsLand
CryptoNewsLand
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XRP’s price experienced an 8% retracement to $0.53 but showed resilience amidst selling pressure. Despite lagging behind rival coins like Avalanche and Ethereum in gains, XRP saw a 7.4% increase. The trading volume for XRP dropped by 73.2% from its peak on February 15 to 22, indicating a decline in trading activity. XRP experienced a notable setback, declining by 8% to a weekly low of $0.53 on February 22nd. However, amidst this downturn, traders displayed resilience, signaling an intent to hold out for a potential rebound. A week earlier, XRP had surged to a peak of $0.58 on February 15th, driven by favorable conditions within the layer-1 crypto sector. Despite slipping below $0.55 in subsequent days, investors refrained from instigating a significant sell-off. Source: TradingView This behavior mirrored trends in other layer-1 coins like Avalanche, Solana, and Ethereum, which all witnessed substantial gains. While XRP trailed its counterparts with a 7.4% uptick, it still reached a monthly high before its retracement. On-chain data analysis revealed a prevailing bullish sentiment among XRP holders, even amidst the price decline. Notably, trading volume plummeted by 73.2% between February 15th and 22nd, while the price only dipped by 8%, indicating underlying investor confidence and anticipation of a rebound. Factors such as the overall growth in the altcoin market cap, coupled with historic peaks in Bitcoin and Ethereum prices, further supported optimism for XRP’s recovery. However, challenges remain, with resistance seen around the previous peak of $0.58 and crucial support at the $0.50 mark. The coming days will determine whether XRP bulls can defend key levels and drive the price towards a potential breakout above $0.60 or if bears will exert pressure, leading to further declines. Read also: XRP’s Path to $1.87: Expert Analyst Predicts 269% Rally Despite Recent Setbacks How Top Analyst’s Long-Term Outlook Fuels XRP Enthusiasm: $0.8888 & $1.0507 Predictions XRP’s Potential Rebound: Top Analyst Sets Targets from $0.60442 to $1.88 XRP’s Cup & Handle Pattern: A Bullish Signaling for $1.05 & $1.88 Targets XRP’s Potential $3.39 Increase, Analyst Weighs In The post XRP Bulls Stand Firm as Price Dips: Will $0.50 Be Defended? appeared first on Crypto News Land.

3 days ago
CryptoNewsLand
CryptoNewsLand
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ADA’s resilience at $0.60 signifies significant psychological and technical support, historically pivotal for buyers and sellers. The stability around $0.60 may precede a bullish leap to $0.66, driven by investor confidence and positive developments in the Cardano ecosystem. Failure to breach $0.66 could lead to consolidation or retracement, while a breach could propel ADA toward the $0.70 resistance level. Cardano’s (ADA) recent price movement has captured the attention of investors, with the cryptocurrency hovering around the critical $0.60 mark.  This level is not just a number; it represents a crucial juncture where both psychological and technical factors converge. Over time, $0.60 has proven to be a battleground where buyers and sellers contend fiercely, demonstrating its significance in the market dynamics of ADA. The current steadfastness of ADA around this threshold suggests a robust sentiment among investors, indicating a strong base of support for the cryptocurrency. This stability serves as a foundation for potential upward momentum, with the next target set at approximately $0.66. Achieving this milestone hinges on various factors, including increased investor confidence, positive developments within the Cardano ecosystem, and broader market trends favoring altcoins. However, the path to $0.66 is not without its challenges. While the support at $0.60 provides a safety net for ADA, it also contributes to a tightening price range between $0.60 and $0.66. This squeeze necessitates a significant influx of buying pressure to overcome the upper resistance. Failure to breach $0.66 could result in a period of consolidation or even a retracement for ADA. On the flip side, a decisive breach above $0.66 could pave the way for further gains, potentially towards the $0.70 region. Conversely, if ADA fails to maintain the $0.60 support level, it might face a bearish downturn, with potential fallbacks to lower support zones, such as $0.55 or $0.50. Read also: XRP’s Decisive Moment: Breaking $0.75 Barrier for Bullish Reversal Cardano’s Surging Rally: Will ADA Break the $0.5 Barrier? Cardano Holds Firm Amid Market Volatility: Key Insights XRP’s Resurgence: Top Analyst’s Insight Sparks Hope Can XRP Overcome the $1 Barrier and Target $15? A Close Look at Bent Fork B The post Cardano’s Crucial Battle: Will ADA Surge Past $0.60 Barrier? appeared first on Crypto News Land.

3 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.

3 days ago
Kri
Kri
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Ripple is, by far, the largest active holder of XRP, with over 45 billion tokens under its control. Every month, the company dumps large amounts of XRP in strategic sell-offs, and February activity is still ongoing. Notably, over 40.70 billion XRPs are locked in escrows and still not part of the token’s circulating supply. However, Ripple still has over 5 billion of liquid assets that the institution can sell at any moment.  In February, the monthly escrow unlocked 1 billion tokens, of which 800 million were re-locked for future release. So far, Ripple’s treasury account has already dumped 260 million XRP – 60 million more than this month’s inflation. The extra amount originated from a dormant wallet address, which funded the treasury account with 100 million XRP. Will Ripple sell more XRP in February? Interestingly, this accounts exclusively for the treasury address labeled ‘Ripple (1)’ by XRP Scan. It is possible that the company has other active selling sources that are not accounted for in this report. In particular, the 260 million dumped XRP in February equals $140.40 million at the current $0.54 price. ‘Ripple (1)’ still has 40 million tokens behind from the extra 100 million on February 11. This is a likely amount for a final dump this month. However, the company can still sell the billionths held liquid in dozens of identified addresses under its control, as demonstrated with the most recent event. XRP price analysis amid Ripple’s dump activity Meanwhile, XRP started trading at $0.5 on February 1 and is now up 8% from the beginning of the month.  Nevertheless, it is changing hands in a downtrend from a local top in July 2023, now facing a short-term retracement following the last sell-off on February 20. In conclusion, it is hard to know the direct impact Ripple’s dumps have on the price by looking at XRP’s daily chart. On the other hand, the economic effects of a supply increase or an increased selling pressure are real, as they impact the book offer and may cause temporary drops if the demand (or the buying pressure) is not strong enough. Investors must trade cautiously and be aware of whale’s activities for proper risk management and profitable decisions. #TrendingTopic #Write2Earn

3 days ago
CryptoNews
CryptoNews
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Ripple’s price stumbled 8% to a weekly low of $0.53 on Feb. 22 but curtailed selling pressure among traders signals widespread intent to hold out for a rebound phase.  The price of Ripple (XRP) soared to a February 2024 peak of $0.58 on Feb. 15, riding on bullish headwinds spread across the layer-1 crypto sector. As XRP price retreated below $0.55 this week, investors have increasingly refrained from selling rather than entering a large-scale sell-off. XRP bulls refrain from selling amid 8% retracement XRP’s price joined other top-ranked layer-1 coins at the forefront of the crypto market rally last week. Increased demand and positive sentiment surrounding layer-1 altcoins and a timely $120 million inflow from crypto whales were major rally drivers.  While XRP price lagged behind rival layer-1 coins like Avalanche (AVAX), Solana (SOL), and Ethereum (ETH), all of which scored double-digit gains, XRP’s 7.4% uptick was enough to propel it to a new monthly peak of $0.58 on Feb. 15.   After another brazen attempt at flipping $0.58 territory on Feb. 19, XRP price entered a sharp 8% pullback to a local low of $0.53 at press time on Feb. 22. On-chain data trends show that most current XRP holders have maintained a bullish outlook amid the price downtrend. The Santiment chart shows that XRP trading volume rose to $1.1 billion at the peak of last week’s rally of Feb. 15. As prices began to slide, XRP traders have increasingly dialed down their trading activity. Ripple (XRP) Daily Trading Volume vs. Price | Source: Santiment The chart above shows that XRP trading volume is down by $760 million compared to last week’s peak. At the time of writing on Feb. 22, only $357.9 million worth of trades were recorded in the last 24 hours.   XRP trading volume dropped 73.2% between Feb. 15 and Feb. 22. However, XRP price declined by only 8% during that period.  When trading volume declines faster compared to the pace of price decline, savvy investors see it as a sign of strong underlying confidence. It suggests that investors expect the current pullback to transition swiftly into a rebound phase.  Additionally, key fundamental factors, such as the overall altcoin market cap growth this week, with BTC and ETH both trading at historic peaks, also further reinforce the optimistic outlook for an imminent XRP price rebound. XRP price forecast: Bulls to defend $0.50 fiercely The curtailed selling pressure observed in the markets this week puts XRP in a prime position to avoid a further downswing below $0.50. However, the upper Bollinger band indicator shows that in the case of an early rebound, the bulls face initial resistance at the previous peak, around $0.58. If the bullish scenario is as predicted, XRP price could enter a major breakout towards $0.60. Ripple (XRP) Price Forecast, Feb. 22, 2024 | Source: TradingView Conversely, the bears could invalidate this optimistic price forecast if they force a reversal below the critical $0.50 area. As depicted by the lower Bollinger band indicator, the buy wall at $0.49 could offer considerable support in the short term.

3 days ago
Crypto-leader
Crypto-leader
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$BTC $ETH Here's an alternative phrasing: 👉👉There's a sense of optimism surrounding Bitcoin's potential for a downward trend later today. It's anticipated to undergo a retracement initially, presenting an opportunity to buy at lower levels. Key resistance levels are observed around 52,000 and 52,500, while crucial support levels hover around 51,000 and 50,500. Ethereum, having reached a previous high of 3,030, also shows a similar optimistic outlook for a downward trajectory. It's speculated that it might dip to around 2,900 as the evening progresses. 👉👉Please remember, the investment landscape is inherently unpredictable and carries risks. It's advisable to exercise caution and diligence when considering market entry. #Write2Earn #TrendingTopic #ETH #BTC

3 days ago
Cryptopolitan
Cryptopolitan
followers

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.

3 days ago
Keith Love CZ
Keith Love CZ
followers

Last night, I was actually quite panicked. Because Bitcoin looks like it will fall below 50,000. Once it falls below 50,000, it means a retracement. but! No breakout! Do you know what I'm going to say? Yes, that's right! This gives $xai time to keep charging! As the saying goes, time, location, and people! LFG!!!!

4 days ago
koinmilyoner
koinmilyoner
followers

🌕Predictions for the Price of XRP: Bulls Take a Hit, but This Level May Trigger Another Increase🌕 A negative drop began from $0.580 barrier for XRP. Price may rally until it closes below $0.535. XRP struggles to break $0.5650 and $0.580 barrier. The price is above $0.535 and the 100 SMA. On the 4-hour XRP/USD chart, a bullish trend line with support around $0.5350 is formed. Unless it closes below $0.535, the pair might rise. XRP Drops To Key Support XRP has risen from $0.520 in recent days. Above $0.535 and $0.550 barrier levels. Bitcoin and Ethereum were shielded by bears at $0.580 resistance. Before a drop, the latest high was $0.5792. Price fell below $0.550. It even tested $0.535. Price consolidates losses after a low of $0.5322. Now over $0.535 and the 100 SMA (4 hours), Ripple's token price. On the 4-hour XRP/USD chart, a bullish trend line with support around $0.5350 is formed. Resistance at $0.5550 is imminent on the upside. The 50% Fib retracement level of the decline from the $0.5793 swing high to the $0.5322 low is approaching. Above $0.5620, the 61.8% Fib retracement level of the negative move from the $0.5793 swing high to the $0.5322 low, the price might climb above $0.580. Close over $0.580 barrier might start a significant surge. Around $0.600 is the next resistance. Bulls may surge toward $0.620 barrier if they stay over $0.600. More advances might push price toward $0.650 barrier. Another Fall? XRP may fall again if it fails to break $0.5550. Initial downward support is between $0.535 and the trend line. The next significant support is $0.5220. If price breaks down and closes below $0.5220, it may accelerate lower. Price might retest $0.480 support. Tech Indicators 4-Hours MACD – XRP/USD's MACD is falling in the negative zone. Four-hour RSI (Relative Strength Index): XRP/USD is below 50. Major Support Levels: $0.535, $0.522, $0.480. Major resistance levels: $0.555, $0.565, $0.580. #ripple #xrp #Write2Earn #TrendingTopic

4 days ago
Cointelegraph
Cointelegraph
followers

Bitcoin (BTC) is due a “pullback” around its next block subsidy halving, but the timing remains unclear. In his latest YouTube video on Feb. 20, popular trader and analyst Rekt Capital predicted BTC price action copying the 2016 and 2020 bull runs. Bitcoin analyst mulls timing of 2024 "pre-halving retrace" Bitcoin has ranged within a narrow corridor for over a week, with $52,000 acting as a resistance zone. While this has taken its toll on sentiment — as well as altcoin price performance — seasoned market observers remain optimistic. Analyzing previous runs to all-time highs, Rekt Capital identified key phases common to both bull market setups. “In the past, a macro downtrend break always precedes upside going into the halving,” he explained. “Then we have a pre-halving retrace and then a post-halving reaccumulation period and then parabolic price action toward new all-time highs.” An accompanying chart showed BTC/USD breaking its initial downward-sloping trend line, only to get caught in a resistance zone previously formed by it. Breaking through and then retesting as support — the “pre-halving retrace” phase — is what is missing in 2024 so far. “We’re going to have the same thing in this cycle as well,” Rekt Capital continued. The zone of interest when it comes to the pre-halving pullback lies at around $45,000, data from Cointelegraph Markets Pro and TradingView confirms. BTC/USD 1-month chart with Rekt Capital's retracement zone. Source: TradingView “The question is, ‘Are we going to retest this resistance this month in the pre-halving period?’ because notice how we are never able to do that in the pre-halving period across time,” he queried. Earlier, Rekt Capital concluded that BTC/USD had fully entered its pre-halving run-up, now adding that key price events were coming quicker this cycle than before. Sub-$50,000 BTC price levels come into focus Commenting on current price action, meanwhile, others saw little reason to flip bearish on the market amid the rangebound moves. Related: Why is Bitcoin price down today? “Bitcoin is trading at the exact same price as it was 7 days ago,” Caleb Franzen, founder of research platform Cubic Analytics, told subscribers on X (formerly Twitter) on Feb. 22. “Fluctuating between $50.6k & $53k for the past 7 days, but the lowest daily close has been $51.6k (which is also right where it's trading right now). I really don't understand the panic or the bear victory laps.” Responding, analyst Matthew Hyland broadly agreed, noting the significance of the 0.618 Fibonacci retracement level from all-time highs just above $48,000. “If $49k folds then the picture changes but consolidation in an uptrend favors a continuation of the uptrend,” he nonetheless cautioned. 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
Coinpedia
Coinpedia
followers

The post Why XRP Is Down Today? Here’s Are The Possible Factors Pulling The Curtains Down! appeared first on Coinpedia Fintech News As the SEC vs. Ripple lawsuit enters a pivotal phase, both parties are diligently crafting remedies-related briefs. This signifies a notable progression in the legal proceedings, with looming deadlines shaping the direction of the case. Notably, March 13 marks a key milestone for the SEC’s filing, followed by April 12 for opposing motions, and April 29 for final remedies submissions. Hence by April 29th, the court is expected to determine penalties for Ripple’s alleged institutional sales of XRP, potentially offering closure to the protracted legal battle. However in a recent breakout, it went beyond Ripple vs SEC, the SEC is yet again entangled in another legal mess. Here’s what happened and its impact on XRP at a glance.  XRP slips below $0.55 amid ongoing SEC v. Ripple lawsuit developments. March 13 marks a pivotal deadline as court prepares to determine penalties. Meanwhile, LEJILEX crypto exchange and CFAT sue SEC, challenging digital asset sales classification. #Maleyatupdates — Maleyat Group (@MaleyatGroup) February 22, 2024 Legal Battle Intensifies: LEJILEX Exchange Challenges SEC  Surprisingly, the LEJILEX crypto exchange and the Crypto Freedom Alliance of Texas (CFAT) have taken legal action against the SEC. Their lawsuit seeks a declaration affirming that secondary-market sales of digital assets, including those envisioned by LEJILEX, do not constitute sales of securities. This groundbreaking lawsuit underscores the mounting tensions between regulators and the crypto industry, as stakeholders seek clarity on the regulatory landscape. So far, Ripple has set an example in the industry by fighting and winning over the SEC, and this case will bolster efforts to save crypto from SEC manipulation. XRP is Poised for Further Price Correction From a technical point of view, investors and experts pay close attention to how the price of XRP changes. Even though it fell below $0.55, the 6th largest coin is still in the race. Analysts say that if XRP goes down even more, it might test the 23.6% Fibonacci level at $0.5219. But signs like the Moving Average Convergence/Divergence (MACD) show that things are going in the right direction, and the Awesome Oscillator (AO) suggests that the asset’s price trend might be about to change. Looking ahead, market participants are closely monitoring XRP’s behavior, particularly its ability to bounce back to the support levels and attain its upward trajectory. If XRP manages to rebound it could see retesting the 78.6% Fibonacci retracement level at $0.6073.  On the other hand, a sustained drop below $0.5219 may pave the way for further correction, potentially leading to a decline to $0.50. However, optimism remains high that XRP could recover its losses upon surpassing this critical threshold.

4 days ago

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