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CATEGORY: ascending triangle


Apr 05, 2025 12:05

PEPE Price Breaks Ascending Triangle To Target Another 20% Crash

The PEPE price has taken a sudden bearish turn after breaking out of an Ascending Triangle pattern. In light of this breakout, a crypto analyst has predicted that PEPE could face a massive 20% price crash if it fails to hold above a critical resistance level.  Bears Threaten 20% Crash In PEPE Price PEPEs price action has swiftly reversed from bullish to bearish, marked by a negative Change of Character (CHoCH) following its breakout from an Ascending Triangle pattern. Notably, PEPEs CHoCH is highlighted where the price broke below previous support, indicating a significant structural shift to the bearish zone as buyers lose momentum.  Related Reading: PEPE Price Enters Oversold Levels On Daily Timeframe, Heres What Happened The Last Two Times According to pseudonymous TradingView analyst MyCryptoParadise, bears could seize control of PEPEs price as it approaches a crucial resistance zone at $0.000008. The analyst has suggested that if the meme coin fails to break above the resistance, it could result in a 20% crash to lower support levels.  The first minor support level at $0.0000065 is highlighted in the green line on the analysts price chart. Should bearish momentum persist, PEPE could drop further, trapping late buyers and extending its correction phase. The analyst has pinpointed a much deeper support zone at $0.0000055, serving as a crucial defense against a stronger price breakdown.  A major factor supporting PEPEs projected price crash is the alignment of its key resistance level with several bearish elements. The TradingView analysts price chart shows that PEPEs $0.000008 resistance coincides with a 200 Exponential Moving Average (EMA), which acts as a dynamic resistance. The 200 EMA is often a reliable indicator of long-term trend shifts, and its overlap with the resistance adds strength to the bearish outlook.  The resistance also coincides with a Fair Value Gap (FVG), a region where liquidity has been left untested, suggesting that price could be drawn back to fill this gap. Lastly, PEPEs critical resistance level intersects with a Fibonacci Golden Zone, a key retracement level where price reversals often occur, further signaling the potential for a downturn.  Potential Breakout Scenario While MyCryptoParadise projects a 20% correction for the PEPE price, which is currently trading at $0.00000698, he also shared a possible bullish scenario in which the meme coin surprises traders with an upward breakout. The TradingView analyst has projected that if PEPE manages to close a candle above the $0.000008 resistance, his bearish thesis could be completely invalidated. Related Reading: Analyst Says PEPE Price Must Break This Resistance Level For 150% Surge Toward ATHs In this case, the market should anticipate a continuation of the uptrend, with the next price target potentially reaching $0.0000085 and beyond. However, for bulls to break through this resistance level, strong volume and momentum are required. Given that Pepes price is still in the red, this bullish scenario seems like a less likely scenario for now. Featured image from Adobe Stock, chart from Tradingview.com

Mar 05, 2025 12:05

XRP Price Retraces Gains From Sunday Rally, This Important Support Level Could Be The Defining Factor

The XRP price has retraced and lost the gains it recorded from its Sunday rally following Trumps announcement that the crypto would be included in the crypto strategic reserve. Following this price correction, crypto analyst Trade City has key support levels that could determine XRPs future trajectory.  Important Support Levels For The XRP Price In a TradingView post, Trade City highlighted $3.06717 and $1.67220 as critical support levels for the XRP price on the weekly timeframe. While analyzing the weekly chart, the analyst noted that after bouncing along the ascending trendline, XRP confirmed its breakout above $0.73056, which sparked the main bullish leg, sending the crypto up to $3.06717.  Related Reading: XRP Bulls Shake Off Crash, Target This Major Resistance On The Road To $3.85 In line with this, Trade City remarked that $3.06717 is the all-time high (ATH) and a major supply zone. He added that the next bullish leg could begin soon enough if the XRP price can hold above this level. Meanwhile, in the event of a price correction, the analyst stated that the only key support viable in the weekly timeframe is $1.67220.  Trade City revealed that the Relative Strength Index (RSI) oscillator has exited the overbought zone and returned to normal levels. He asserted that the bullish scenario for the XRP price becomes more likely if the RSI re-enters overbought conditions.  Analysis Of The Daily Timeframe Trade City went further to give an in-depth analysis of the XRP price on the daily timeframe. He stated that the first key observation on the daily timeframe for the XRP price is a strong bearish divergence on the RSI, which formed as the price moved sideways inside the range between $2.02967 and $3.30467.  Related Reading: XRP Long Term Potential Remains Extremely Bullish Possibility Of Price At $20 The crypto analyst revealed that the trigger for this bearish divergence is a break below $2.02967, which has yet to happen. The analyst warned that a break below this support level could happen soon due to a drop in the trading volume. If this range breaks downward and the support level at $2.02967 is lost, Trade City stated that the XRP price could enter a deeper correction toward key Fibonacci levels such as 0.382, 0.5, and 0.618.  The analyst noted that these three Fibonacci levels are strong support zones, which could prevent a further sell-off. Meanwhile, on the bullish side, if the XRP price breaks to the upside from its current range, the analyst assured that a new bullish leg will begin, pushing the crypto toward higher targets. The analysts accompanying chart showed that the XRP price could rally to as high as $4, marking a new ATH for the crypto.  At the time of writing, the XRP price is trading at around $2.32, down over 12% in the last 24 hours, according to data from CoinMarketCap. Featured image from Adobe Stock, chart from Tradingview.com

Mar 11, 2025 12:05

Ethereum Price Maintains Movement Inside Ascending Triangle, Is Another Crash Coming?

Crypto analyst Trend Diva has provided an in-depth analysis of the current Ethereum price action. She revealed that ETH is still moving inside an ascending triangle but warned that it could suffer further downside pressure if it fails to stay above a crucial support level.  Ethereum Price Still Inside An Ascending Triangle Despite Recent Crash In a TradingView post, Trend Diva revealed that the Ethereum price is moving inside a clear ascending triangle. The upper boundary acts as long-term resistance, and the lower boundary provides dynamic support. This analysis comes amid ETHs recent decline below $2,000.  Related Reading: Ethereum Retests Symmetrical Triangle Pattern, Analyst Sets Next Target The analyst noted that after a steady climb, the Ethereum price started showing weakness, confirmed by a head and shoulders pattern, which she claimed is a common sign that the trend might reverse. This weakness led to a strong drop for ETH, bringing its price down to the key support zone around $2,000.  Trend Diva stated that this support area is important for the Ethereum price because it meets with a major trendline, making it a likely spot where buyers could step in. She added that the volume profile also shows a lot of activity in this zone, meaning traders have been interested in these levels before.  The analyst further remarked that if the Ethereum price holds above this $2,000 support, it could bounce towards the $2,800 level, which represents a previous resistance. However, she revealed that a breakdown below the trendline shifts the bias bearish towards $1,414.  For now, as long as ETH stays above $2,000, a rebound to $2,800 is still on the horizon.  It is worth mentioning that the Ethereum price briefly lost the $2,000 support level following a crypto market crash on Sunday. As such, there is also the possibility that it could drop to as low as $1,414 as Trend Diva warned.  A Drop To As Low As $1,250 Is Also On The Cards In an X post, crypto analyst Ali Martinez said the Ethereum price seems to be breaking out of a parallel channel. He added that ETH could drop to as low as $1,250 if momentum sustains. ETH whales look to be doing everything possible to defend the $2,000 support zone and prevent Ethereum from dropping to these new lows.  Related Reading: Analyst Says Youll Regret Not Buying Ethereum At These Prices, Heres Where Its Headed Martinez revealed that the largest whales on the network have bought 330,000 ETH in the last 48 hours. This massive whale accumulation could help prevent further downside pressure and possibly spark a bullish reversal for the Ethereum price.  At the time of writing, the Ethereum price is trading at around $2,065, down over 5% in the last 24 hours, according to data from CoinMarketCap. Featured image from iStock, chart from Tradingview.com

Ethereum bulls retain hopes of $10K despite ETH price chart bear flag

Author: Cointelegraph By Yashu Gola
United States
Dec 06, 2021 04:50

Ethereum bulls retain hopes of $10K despite ETH price chart bear flag

Ethereum risks dropping to $3,200 as its latest ETH price decline triggers a classic bearish setup.

Feb 05, 2025 12:05

Cardano Price Breaks Down From Ascending Channel, Here Are Two Ways It Could Go

A crypto analyst has confirmed a recent breakdown of the Cardano price from an Ascending Channel pattern. With key support and resistance levels now in focus, the analyst has outlined two scenarios for ADA, projecting where its price could move next.  Cardano Price Ascending Channel: Bullish Scenario The Cardano price has been trending within an Ascending Channel for some time, maintaining steady price momentum amidst market volatility. However, a TradingView crypto analyst, known as MelikaTrader94, has identified a recent change in the Cardano price action. The analyst highlights that the altcoin has broken below the Ascending Channel, indicating a possible shift in market sentiment. Related Reading: Cardano Price Bounces From Key Support Level, But Theres Still A Risk To Crash To $0.85 An Ascending Channel is a distinctive chart pattern formed by two upward-sloping parallel trend lines. This pattern is typically considered a bullish continuation signal, often indicating the potential for a price reversal or deeper correction.  Based on the TradingView analysts report, Cardanos recent breakdown from its Ascending Channel could give rise to two possible scenarios. Firstly, the analyst predicts that the price of Cardano could experience a bullish surge, driven by the momentum generated from the channel breakdown.  The analyst shared key support and resistance levels to watch, highlighting that a breakout about resistance could confirm a bullish reversal. Interestingly, the Cardano price has already broken below the key support level of around $0.7765. The cryptocurrency is now testing lower regions to find its next critical support.  The TradingView analyst predicts that if the price of ADA can reclaim the support level at $0.7765, a retest to higher levels may be imminent. He has set a bullish target for ADA between $0.95 and $1.00, signaling the start of a strong uptrend and a potential price discovery. He also highlighted new resistance levels between $0.7765 and $0.80 for the price. Bearish Scenario: Further Decline Toward 0.2910 Fib? In an alternative scenario, MelikaTrader94 has shared a bearish outlook for the Cardano price. The price of Cardano is already in a severe downturn after crashing by 23.3% over the past week. Despite this bearish performance, the TradingView analyst predicts that ADA could see further downward momentum, declining towards the 0.4836 and 0.2910 Fibonacci levels if it fails to hold current levels.  Related Reading: Cardano Price Eyes Breakout To $6 After Bouncing From 43% Drawdown The TradingView expert has pinpointed new support levels around $0.63, $0.48, and $0.29. These price points act as a barrier for the ADA, potentially preventing further declines. The analyst also disclosed that these support levels will serve as significant demand zones where buying pressure is set to increase. Given the possibility of a further breakdown in the ADAs price, the analyst has cautioned investors to closely monitor ADAs price action, particularly around the $0.63 level, as this could confirm the cryptocurrencys next move. Featured image from Adobe Stock, chart from Tradingview.com

Feb 17, 2024 12:05

XRP Prices 7,000% Pump: Analyst Foresees Massive Move If This Happens

XRP may not have had the best start to 2024, but several cryptocurrency analysts and enthusiasts are still bullish about the crypto asset, predicting a possible price surge to new highs heights. Popular cryptocurrency analyst Egrag Crypto has made a daring prediction for XRP, suggesting a rise to a new peak. Egrag Crypto’s forecast delves into the token’s potential to reach the $2 price mark and way beyond. XRP Poised To Skyrocket To A New All-Time High In his projections shared on the X platform, the analyst noted that XRP is presently caught between the two moving average indicators, the 21-exponential Moving Average (EMA) and the 55-moving Average (MA). Related Reading: XRP Price Could Surge from New Acquisition, Amid Community Skepticism As a result, Egrag crypto has predicted a potential 7000% price rally if XRP breaks out of the moving averages. However, the expert believes the rally will occur when XRP’s price reaches $2.2. If such a rise occurs during the aforementioned price level, it will increase to about $139, according to Egrag. His forecasts are supported by historical data, which he uses to highlight a similar trend in the 2017 bull run. It is noteworthy that before the 2017 bull run, XRP was similarly hedged between the 21 EMA and the 55 MA. On the other hand, XRP initially saw a price spike to $0.0302 following a breakout, and then it soared by 7,000% to the $2 mark.  The analyst has underscored that about 99% of people might not comprehend his projections now. Nonetheless, when utility starts to take off, it might just be the start of a multi-decade trend. Even though a breakout from the 21 EMA and 55 MA presents a possible rally, there is also a risk for a potential decline. According to Egrag Crypto, this position could lead to a decline to around $0.45. He further claimed that XRP closing above $0.60 would be crucial, pushing the asset above the 21 EMA. Additionally, it will rise above the level of local resistance in a “candle style.” Several Factors Of The Mega Move  Following the prediction, Egrag has pointed out multiple aspects that set his predictions aside. “This could be the prelude to a mega move, a breakout that occurs once in a lifetime,” he stated. Related Reading: $400 XRP Price Point: Analyst Breaks Down The Future Surge Date The first aspect highlighted by the analyst is that if the rally takes place, XRP would conclude “the W Formation.” After that, it could “finalize the ascending triangle formation.” Meanwhile, for the last aspect, he noted that “it could trigger a 500% rise” from the current price of XRP. This might potentially start a big price surge from higher levels. So far, Egrag has urged the crypto community not to be misled by his chart, as his forecast could be a life-changing opportunity. Featured image from iStock, chart from Tradingview.com

Dec 22, 2024 12:05

Ethereum Rejected At $4,000 Resistance Again: What Lies Ahead For ETH?

Due to yesterdays crypto market rout, Ethereum (ETH) has now faced rejection at the key $4,000 resistance level for three times since March 2024. The second-largest cryptocurrency by reported market cap is now trading at the $3,400 level, down 6.7% in the past 24 hours. Whats Behind Ethereums Underwhelming Price Performance? While ETH has posted a respectable 47% year-to-date (YTD) gain, it has been outpaced by other major cryptocurrencies like Bitcoin (BTC), Solana (SOL), and XRP, which have recorded significantly higher returns in the same period. Several factors appear to be holding back Ethereums price momentum. Related Reading: Ethereum Risk-Reward Ratio Is Now Attractive, Brokerage Firm Explains One contributing factor is Ethereums comparatively weaker brand recognition versus Bitcoin. This was highlighted by the lackluster response to the launch of spot ETH exchange-traded funds (ETFs) in August. The introduction of these ETFs failed to generate any meaningful price movement for ETH. Data further reveals a significant disparity in investor interest between the two assets. The total net assets held in U.S. spot ETH ETFs currently amount to $11.98 billion. In contrast, spot BTC ETFs hold $109.66 billion – nearly ten times as much. Additionally, yesterday saw over $60 million in outflows from spot ETH ETFs, marking the largest single-day outflow since November 19. Crypto analyst Ali Martinez pointed out that social sentiment around ETH has reached its lowest point in a year. However, based on historical trends, this could paradoxically signal a bullish opportunity for Ethereum. Futures traders have also turned bearish on ETH, as the aggregated premium for futures positions flipped negative for the first time since November 6. The market downturn triggered Ethereums largest liquidation event since December 9, with $299 million liquidated in a single day. Such large-scale liquidations often lead to cascading sell-offs and heightened price volatility. Another recurring concern stems from the Ethereum Foundations tendency to sell ETH near local price peaks. In a recent X post, Lookonchain noted that the Ethereum Foundation sold 100 ETH on December 17. Following this sale, ETHs price has dropped approximately 17%. Further skepticism surrounds Ethereums supply issuance. A recent Binance Research report highlighted that ETHs relatively high issuance rate raises questions about its “ultrasound money” narrative, which suggests Ethereum is a deflationary asset. Is Ethereum Set For A Bounce? Seasoned crypto analyst @Trader_XO stated that they bought spot ETH at the $3,200 price level yesterday. The analyst added that they expect a good few weeks of price consolidation before ETHs next leg up. Related Reading: 7.8M Ethereum Leaves Binance In Two MonthsWhat Does This Mean for ETH? Meanwhile, crypto trader @CryptoShadowOff identified a potential ascending triangle formation on ETHs monthly chart. According to their analysis, ETH could drop further to the $2,800 range before targeting a new all-time high (ATH). Market analyst @CryptoBullet1 emphasized that on the 4-hour chart, ETH has not been this oversold since August 5, indicating a bounce may be on the horizon. At press time, ETH trades at $3,400, down 6% in the past 24 hours. Featured image from Unsplash, charts from Coinglass, X, and Tradingview.com

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