Analysts Think Solana Could Go Nuts As SOL Price Retests $160 Resistance

Solana (SOL) broke above a key resistance level on Friday, fueling the bullish sentiment that reignited over a week ago. As a result, some analysts think the fifth-largest cryptocurrency by market capitalization could be about to see a massive bull run as Uptober approaches. Related Reading: Ethereum: Analyst Sets $2,820 As ETHs Next Key Level to Watch, Heres Why Solana Retests $160 Resistance Solanas rally started last week following the market surge driven by the US Federal Reserves rate cuts. The jump pushed the cryptocurrencys price above the $140 resistance level, successfully turning it into support. SOL had failed to break above this key level throughout the past month, consolidating between the $130-$139 price range. This performance alarmed many investors and market watchers, who considered the cryptocurrency was in danger of facing a massive correction. Since the bullish catalyst, Solana has seen a 23% surge, breaking above the $150 barrier this week. Some analysts asserted that reclaiming this mark would propel the price toward the next key resistance level. On Friday, Solana broke above the crucial resistance level for the first time in a month, hitting $160 for the first time since late August. As of this writing, SOL reached a daily high of $160.68, momentarily holding the above the key level. This performance was seemingly fueled by the bullish vibes surrounding the early release from prison of Binances founder Changpeng Zhao (CZ). The expectation of his release further inspired a bullish market sentiment among investors, driving SOLs 4% jump in an hour and Bitcoins price to $66,000. Is SOL Price About To “Go Insane”? Analyst Crypto Horn Harris noted Solanas price action on the weekly chart, claiming it looks nothing short of insane right now. He underscored that SOL retested the Relative Strength Index (RSI) properly while doing a perfect reset of the 50-day Moving Average (MA). To the analyst, this performance hints that the cryptocurrency will challenge the cycles high above $200 and move to higher targets soon. WiseAnalyze claimed that SOLs price is still very low, suggesting that investors still can jump on that trend. The trader set his target for the cycles final breakout at $400, but it might grow higher. However, he didnt rule out the possibility of another rejection, with a pullback to the $108-$120 support zones. Similarly, Matthew Dixon also forecasted a retrace for Solana. The analyst believes a pullback is due, as multiple indicators suggest the correction. However, the jury is out on the scope of the decline. Dixon stated that SOLs price targets will depend on whether the price action from the low is in the form ABC Or 123. But either way, the retrace is likely. Related Reading: Memecoin Sensation Popcat Hits New All-Time High After Surge To $1 Crypto analyst Byzantine General considers SOLs chart to look pretty crazy. The trader highlighted that Solana appears to be printing an Adam and Eve (A&E) double-bottom pattern, with the confirmation line around the $160 price range. Based on this, Solanas price could go really nuts, as it has the potential for a breakout toward the $200 resistance level if it successfully reclaims the key support level. Featured Image from Unsplash.com, Chart from TradingView.com

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Analyst Backs Bitcoin Hitting $290,000 In Bull Run Heres Why

In what has been an unusual September, Bitcoin (BTC) has now recorded another positive weekly performance.  According to data from CoinMarketCap, the maiden cryptocurrency surged by 5.07% in the last seven days, moving its cumulative gain in this month to 11.30%. Interestingly, with Bitcoin halving since gone, analysts remain highly expectant of the traditional market bull run by the largest digital asset. Related Reading: Heres Who Has Been Driving The Bitcoin Price Recovery Above $65,000 BTC In Consolidation As It Gathers Momentum For Breakout In an X post on Friday, popular analyst Crypto Rover predicted BTC will hit a $290,000 price mark in the upcoming bull run. Interestingly, this price projection tallies with previous statements from analysts who put a six-figure price target for BTC following the introduction of the Bitcoin spot ETFs which represents an increased institutional demand for the crypto market leader. Notably, BTC has been moving between $55,000 – $70,000 over the last seven months which represents a state of consolidation.  According to Crypto Rover,  following a breakout from this current sideways movement, Bitcoin is likely to enter the banana zone i.e. the phase of outrageous price growth, as seen in previous bull cycles.     The crypto analyst predicts that during this period which traditionally lasts for 12-18 months, BTC could trade as high as $290,000 representing a 339.39% gain on the assets current price. For many crypto enthusiasts, it is likely that the much-anticipated breakout will occur in the fast-approaching weeks as Bitcoin has now formed an inverse head and shoulders pattern as highlighted by Crypto Rover in another post. To explain, the inverse head and shoulders pattern is a common bullish indicator of potential reversals of a downtrend. If the price breaks above the neckline with significant volume, it indicates a shift to bullish control. These sentiments on a price breakout are further strengthened by the upcoming Q4 which has proven to be the most bullish period for Bitcoin with an average gain of 88% over the last 11 years.   Related Reading: MicroStrategys Bitcoin Bet Pays Off In Multiple Ways As Stock Surges 317% Bitcoin Exchange Stablecoins Ratio Shows Bullish Signal In more positive news for the Bitcoin community, the Bitcoin Exchange Stablecoin Ratio is currently indicating a buy signal. According to CryptoQuant analyst with username EgyHash, this metric which measures BTC reserves (in USD) to the combined stablecoin reserves on exchange is currently at the low levels seen at the start of 2024. EgyHash explains that a low ratio indicates traders have an increased buying power due to high stablecoin holdings which could translate into investments in Bitcoin, thus resulting in a price gain. Therefore, the current low Bitcoin Exchange Ratio adds to the list of bullish signals for Bitcoin investors. At the time of writing, the premier cryptocurrency continues to trade at $66,064 with a 1.14% gain in the last day. Meanwhile, Bitcoins daily trading volume is down by 12.92% and valued at $32.01 billion.  Featured image from Cwallet, chart from Tradingview

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Notcoin Set For More Gains Following 13% Price Rally Details

Telegram-based cryptocurrency Notcoin has attracted investors interest in the last 24 hours with impressive price performance. According to data from CoinMarketCap, Notcoin notched a 12.75% profit on Friday to emerge as the markets top gainer. While the assets momentum appeared to have cooled following a price correction in the last few hours, certain trading indicators encourage investors to retain a bullish sentiment. Related Reading: Crypto Analyst Says Telegram-Based Notcoin Is Ready To Fly, Heres How High Notcoin To Hit $0.014 If Buying Pressure Persists: Analyst In an X post on Friday, popular crypto analyst Ali Martinez shared a bullish prediction on Notcoin. According to Martinez, the SuperTrend indicator on the NOTs daily chart has shown a buy signal following the tokens most recent ascent out of a falling wedge. The SuperTrend indicator just flashed a buy signal on the #Notcoin daily chart as $NOT breaks out of a falling wedge! Increased buying pressure could potentially push #NOT toward $0.012 to $0.014. pic.twitter.com/fJfWMDXCvV Ali (@ali_charts) September 27, 2024 Generally,  the SuperTrend is a simple technical indicator used to predict the potential direction of an assets price. A buy signal occurs when the price moves above the SuperTrendine suggesting the asset would likely maintain its upward trajectory.  According to Martinez, if investors are influenced by the SuperTrend indicator, thus increasing capital influx into Notcoin market, the token could likely surge trade as high as $0.012 – $0.014 representing a potential 41.41% gain on its present market value. In the presence of an overwhelming bullish pressure, NOT could rise to around $0.020 reaching price levels last seen in early August. Alternatively, if a price fall were to occur perhaps due to news events or macroeconomic factors, the telegram-based asset will likely find support around $0.0069.   Related Reading: Notcoin (NOT) Ignites Crypto Market, Analyst Predicts 25% Rally NOT Price Overview  Notcoin emerged as a play-to-earn token on the messaging platform Telegram, allowing people to earn by tapping a virtual coin and participating in game tasks.  Following its official launch in May,  Notcoin drew much attention, rising by over 380% to hit an all-time price of $0.029. However, the tokens value gradually declined in the following weeks and has since failed to return to such heights.  Nevertheless, NOT has quickly grown into a major digital asset, earning a spot in the top 100 cryptocurrencies with a market cap of $1 billion. At the time of writing, Notcoins price hovers around $0.0098 following a correction from the peak price of $0.0105 on Friday. The cryptocurrency boasts significant gains of 31.66% and 8.08% in the past seven and thirty days respectively.  Meanwhile, NOTs trading volume is up by a stunning 145.17% and valued at $374.18 million.   Featured image from Techopedia, chart from Tradingview

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Shiba Inu Rallies 34%, But Will FOMO End The Rally?

Data shows metrics related to Shiba Inu have seen rapid growth alongside the meme coin’s 34% surge, a potential sign that FOMO is developing among investors. Shiba Inu Has Seen An Uptick In Activity With Its Latest Rally In a new post on X, the analytics firm Santiment has discussed how the various indicators related [...]

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Dogecoin Could Target $0.20 Soon, Analyst Predicts Is DOGE Primed For A Rally?

Dogecoin is trading above $0.12 after a 20% pump over the past two days, reigniting investor enthusiasm. The meme coin had been struggling to break past the $0.11 mark, leaving investors frustrated as other cryptocurrencies surged.  The recent breakout has lifted sentiment, with Dogecoin now eyeing higher targets. Analysts believe that this momentum could lead to further gains as DOGE successfully clears key resistance levels. Related Reading: XRP Struggles Below $0.60 Metrics Reveal Growing Selling Pressure One prominent analyst has even set a bullish target of $0.20 in the coming weeks, suggesting that Dogecoin could see another significant rally if the broader market remains strong.  The recent breakout could signal the beginning of a more extended uptrend, especially if DOGE can maintain support above $0.12 and continue attracting buying interest. Investors will be keeping a close eye on how Dogecoin performs in the days ahead. Dogecoin Price Rising Fast  Dogecoin is now testing crucial supply levels around $0.125, a price point not seen since late July. As the entire crypto market surged, sentiment shifted rapidly from fear to hope. Investors are now eyeing Dogecoin with renewed optimism, anticipating further gains in the coming weeks. Prominent analyst TraderNJ recently shared a detailed technical analysis on X, highlighting key resistance levels for DOGE at $0.149, $0.178, and $0.208. TraderNJ expressed strong confidence in the meme coins performance, predicting that Dogecoin could hit the $0.20 mark in no time at all. This bullish outlook reflects the high expectations surrounding Dogecoin, as historical patterns show that when meme coins start to rally, they often experience rapid price acceleration. Dogecoins current price action suggests that a breakthrough past $0.125 could open the door for significant upward momentum. The crypto market has shown resilience and a tendency to surprise skeptics, and Dogecoin is no exception. If DOGE manages to break above its immediate resistance levels, it could potentially trigger a fast-paced rally, similar to its historical price movements. Related Reading: Cardano (ADA) Eyes 20% Price Surge Funding Rate Suggests Increasing Demand Traders and investors are closely monitoring Dogecoins performance as it tests these crucial levels. A sustained push above $0.125 would be a positive signal, reinforcing the bullish sentiment and potentially attracting more buying interest. However, the meme coins notorious volatility means that sharp fluctuations could accompany any breakout. As optimism builds, the next few weeks will be critical for determining whether Dogecoin can maintain its momentum and achieve the price targets set by analysts like TraderNJ. DOGE Price Action: Key Levels To Watch Dogecoin (DOGE) is currently trading at $0.124 after two days of impressive gains and renewed market excitement. The meme coin recently closed above the daily 200 exponential moving average (EMA) at $0.117, a critical indicator that it had not surpassed since late July. Reclaiming this level suggests a potential shift in momentum, indicating long-term strength and a more positive outlook for the weeks ahead. However, sustaining this upward trend will require DOGE to maintain its position above the 1D 200 EMA and continue to challenge higher supply levels around $0.14. If the price manages to break through this resistance, it could pave the way for further gains and solidify its bullish trend. Related Reading: Crypto Analyst Predicts Dogecoin Will Surge 1,000% Past ATH Price Targets Revealed On the flip side, if Dogecoin fails to hold above the 1D 200 EMA, the bullish scenario could quickly reverse. A retracement to lower demand levels around $0.105 would then be expected, potentially signaling a pause in the recent rally. Investors are watching closely to see if Dogecoin can maintain its momentum or if it will face another pullback, as it has in previous months. The next few days will be crucial for determining the meme coin’s short-term direction. Featured image from Dall-E, chart from TradingView

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Render (RENDER) Shows 23% Surge As Sharks & Whales Continue To Buy

Render has shown a sharp jump of more than 23% during the last week as on-chain data shows the large hands have continued to buy. Render Has Enjoyed Bullish Momentum Over The Past Week The cryptocurrency sector as a whole has witnessed an uplift recently, but Render has been among the altcoins that have really stood out from the rest. Whereas Bitcoin (BTC) and Ethereum (ETH) have only seen weekly profits of around 3% and 9%, respectively, RENDER has shown an impressive 23% jump. Related Reading: Dogecoin Wins Over Major Demand Zone: Path To $0.15 Now Clear? The below chart shows how the recent performance of the asset has been like. Following this sharp growth, Render’s price has now neared the $6.5 mark for the first time in four weeks. In terms of the market cap, the asset has seen its valuation touch $3.3 billion, placing it at the 29th place on the top cryptocurrencies list. The coin is now chasing Pepe (PEPE), which is the 28th largest asset in the sector with a market cap of around $3.9 billion. Though, considering the 18% difference in their valuations, it wouldn’t be an easy task for RENDER, especially since PEPE generally shows a notable rise of its own when the market goes up. As for what could be behind the latest growth that the cryptocurrency has enjoyed, perhaps on-chain data can provide some hints. Sharks & Whales Have Been Busy Buying The Token Recently According to data from the on-chain analytics firm Santiment, the Render sharks and whales have participated in some considerable accumulation during the last eleven weeks. The indicator of relevance here is the “Supply Distribution,” which tells us about the amount of supply that a given wallet group on the network is holding right now. In the context of the current topic, the cohort containing addresses who own at least 100,000 tokens is of interest. At the current price of the coin, this cutoff is equivalent to just under $650,000, which is a significant amount. As such, this group corresponds to the large hands of the market, popularly known as the sharks and whales. Below is the chart shared by the analytics firm, which shows how the Supply Distribution for these investors carrying 100,000+ coins has changed over the last few months: From the graph, it’s apparent that the supply held by the Render sharks and whales has witnessed a considerable increase over the last eleven or so weeks. More specifically, these investors have added 20.54 million tokens to their wallets, equivalent to 3.7% of the total supply. Related Reading: Bitcoin Correlation With Gold Now At Highest Level Since March The buying spree from this cohort has continued during the latest price surge and thus, could be at least a factor behind why it has taken place. Featured image from Dall-E, Santiment.net, CoinMarketCap.com, chart from TradingView.com

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Shiba Inu Breakout Eyes $0.00002631 Level After Rallying Over 19%

Shiba Inu is experiencing a notable price breakout, surging over 19% and positioning itself toward the critical resistance level of $0.00002631. This significant rally indicates a shift in market momentum, characterized by robust buying pressure and increased trading volume. Technical indicators suggest that SHIB is establishing a bullish trend, with key support levels solidifying its [...]

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Ethereum: Analyst Sets $2,820 As ETHs Next Key Level to Watch, Heres Why

Following the markets recent pump, the leading cryptocurrencies have seen a remarkable performance. Bitcoin is trading above the $64,000 mark, while Ethereum (ETH) has surged 9% in the last week to consolidate above a key support level. Despite the bullish sentiment, some crypto investors remain cautious about ETHs performance as the second-largest cryptocurrency faces the next crucial resistance level. Related Reading: Memecoin Sensation Popcat Hits New All-Time High After Surge To $1 Ethereum Consolidates Above $2,600 Ethereum recorded a 13% price jump in the last seven days after the US Federal Reserve (Fed) announced its decision to cut the interest rate by 50 basis points (bps). The bullish momentum propelled the ETHs price to ranges not seen in a month, triggering a positive sentiment among many investors. Over the weekend, the King of Altcoins surged from the $2,300 support zone to the $2,500 mark before reclaiming the $2,600 resistance level as the week started. Since then, the cryptocurrency has hovered between the $2,600-$2,684 price range, momentarily dropping below the key support level on Wednesday afternoon. Nonetheless, Ethereum has faced resistance today after recovering from the recent drop to $2,500. Market analyst Crypto Yapper noted that ETH had been running into critical resistance on the Daily chart, as it had been unable to break successfully above the $2,650 mark since Tuesday. This performance worried some investors, who considered that not breaking above this level could hinder the cryptocurrencys run and send the price toward the previous support zones. However, Ethereums price jumped 1% in the last hour to trade above $2,650. As of this writing, ETH exchnges hands at $2,660, recording a 2.1% and 9.3% price increase in the daily and weekly timeframes. ETH To Reach New Highs In October? Crypto Trader Daan highlighted that Ethereums price made a higher low (HL) but has not been able to make a higher high (HH) yet. The trader noted that an HH would occur above the $2,820 mark, which was lost over a month ago, and it would signify a trend reversal for the cryptocurrency. This level corresponds with the horizontal level that kickstarted the February-March run to $4,090 after the breakout. Additionally, it coincides with the Daily 200 Exponential Moving Average (EMA) around that area, which makes it an important level to watch. A breakout above this mark could further propel ETHs price toward the $3,000 resistance level. Julien Bittel, Head of Macro Research at Global Macro Investor (GMI), noted that Ethereums chart is looking a lot like a 2023 redux. Related Reading: Cardano (ADA) Reclaims Top 10 Crypto Spot, Analysts Set New Targets Per the Chart, the cryptocurrencys current market structure resembles its 2023 movements very closely. A repeat of ETHs previous bullish trajectory suggests that ETHs price is about to break out and hit a new all-time high (ATH) mid to late October. Additionally, the chart shows that if it follows the same bullish trend, Ethereums price has the potential to reach somewhere between the $10,000 to $20,000 targets by Q1 2025, which would represent a 669% surge from its current price and a 300% jump from its ATH. Featured Image from Unsplash.com, Chart from TradingView.com

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WIF Bulls Push Hard Toward $2.1 Resistance Amid Market Optimism

Dogwifhat (WIF) is on the verge of a major breakout, with bulls targeting the $2.1 level as upward momentum continues to build. After a strong period of gains, all eyes are on whether this momentum can trigger the price past this critical resistance. A successful push could ignite a broader rally, further solidifying WIFs bullish outlook. As the market heats up, this article seeks to analyze WIF’s price action as it approaches the critical $2.1 resistance level, focusing on the bullish strength that has driven recent gains. By examining technical indicators, market sentiment, and potential key levels, the goal is to assess whether the bulls can sustain their push and trigger a breakout, or if bearish pressure may halt the rally. WIF, with a market capitalization surpassing $2.1 billion and a trading volume of over $528 million, was trading at around $2, indicating an 8.15% increase at the time of writing. In the last 24 hours, its market cap rose by 8.14%, while trading volume saw a decrease of 27.81%. Bulls Push Gains Steam: Can WIF Surpass The $2.1 Barrier? Following the recent trendline break, WIF’s price on the 4-hour chart has continued to gain momentum as it reaches $2.1, with the purpose of breaking past it. WIF is also trading above the 100-day Simple Moving Average (SMA), suggesting a positive upward trend that could lead to a potential breakout. An analysis of the 4-hour Relative Strength Index (RSI) suggests a potential for further upward movement. The RSI has risen again to the 70% threshold after previously dropping to 63%, indicating that positive movement is gaining strength. Related Reading: Dogwifhat On The Edge: Can WIF Hold Above $1.47 As Bears Close In? On the daily chart, WIF shows strong upside movement, reflected in multiple bullish candlesticks following a successful move above the 100-day SMA. This rising strength suggests that bulls are actively in control and may push the cryptocurrency higher, aiming to surpass the $2.1 mark. Finally, on the 1-day chart, a detailed examination of the RSI formation indicates that WIF may maintain its optimistic trajectory as the indicator’s signal line has risen above the 50% threshold and is currently positioned at 70%, displaying a sustained bullish outlook. How High Can The Meme Coin Go Post-Breakout If the upbeat momentum continues and WIF successfully breaks through the $2.1 resistance level, it could target the next resistance level at $3.5. A decisive move above this level might pave the way for additional gains, possibly reaching its all-time high of $4.8 and beyond. Related Reading: Dogwifhat Price Up 15%, Analyst Predicts it Will 25x in 2024 Conversely, if the breakout leads to profit-taking or bearish sentiment, WIF may retrace to the previous support level of $1.47. When this level is breached, it could result in deeper declines, potentially dropping toward $0.7122 and other lower ranges. Featured image from Medium, chart from Tradingview.com

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Solana (SOL) Consolidates in Symmetrical Triangle Analyst Reveals $160 Target On Breakout

Solana (SOL) is now trading at a critical juncture following last weeks market surge. The token has climbed over 20% from its recent local lows, now testing a crucial supply level around $150.  Related Reading: XRP $0.60 Triangle Breakout Could Ignite Parabolic Rally Key Levels To Watch This resistance zone has drawn the attention of analysts and investors, with many believing Solana is on the verge of a rally to higher price levels. Among those who are bullish on SOL is prominent analyst Carl Runefelt, who recently shared a detailed analysis, predicting that Solana could reach new highs within days if the current momentum continues. As the broader market continues to gain strength, investors are eagerly awaiting Solanas next move. A successful breakout above $150 could signal a confirmed uptrend, paving the way for a potential rally. However, the coming days will be pivotal for SOL as it approaches this key level, with the market closely watching whether it will reclaim higher ground or face renewed resistance. Solana Bullish Pattern About To Break  Solana (SOL) is currently testing crucial supply levels that could pave the way for a significant rally to higher prices. After days of consolidation, the altcoin looks ready to break out and confirm a daily uptrend. Many analysts and investors are closely watching for the next move. This potential shift comes as the entire crypto market has turned from fear to optimism, spurred by the Federal Reserve’s recent decision to cut interest rates, which has breathed new life into the market. Analyst Carl Runefelt, one of the prominent voices in the crypto space, has shared his technical analysis on X, revealing that Solana has formed a symmetrical pattern. According to Runefelt, if SOL breaks out of this pattern, it could trigger a substantial upward move, with price targets around $160. The symmetrical triangle, a key technical formation, typically signals a strong price movement after a prolonged period of consolidation. Related Reading: Crypto Analyst Predicts Dogecoin Will Surge 1,000% Past ATH Price Targets Revealed As Solana hovers near this critical level, the market eagerly awaits confirmation of a breakout. Investors expect a move above $150, confirming the uptrend and likely leading to higher price levels in the coming weeks. For now, all eyes remain on Solanas ability to break through this resistance and potentially rally to new heights. SOL Technical Analysis: Price Levels To Watch Solana (SOL) is currently trading at $150 after testing the daily 200 moving average (MA) at $154 as resistance. This key technical level has kept the price in check, and SOL is now entering a consolidation phase. Investors are optimistic, and rising demand could soon trigger a breakout from this consolidation. To keep momentum, SOL must reclaim the 1D 200 MA and target new highs beyond $164. This price has worked as a crucial resistance; if broken, it would confirm the continuation of a daily uptrend. A successful breakout at this level could push SOL toward even higher prices, potentially setting the stage for a run to challenge its all-time highs. Related Reading: SUI Price Sits 40% Below All-Time High As TVL Approaches $1 Billion However, failure to break above the daily 200 MA could signal a shift in sentiment. In this case, SOL could retrace to key support levels, with potential targets around $140 or even lower. This would indicate a short-term correction before another attempt at reclaiming higher price levels. Investors are closely watching SOLs next moves to determine the coin’s near-term direction. Featured image from Dall-E, chart from TradingView

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Cardano (ADA) Reclaims Top 10 Crypto Spot, Analysts Set New Targets

Cardano (ADA) has seen a remarkable performance over the week, surging over 10% and reentering the top ten cryptocurrencies by market capitalization list. Its recent price action has fueled a bullish sentiment among investors and market watchers, who believe the token might be near a rally toward $1. Related Reading: BNB Falters At $600, Paving The Way For A Deeper Pullback Cardano Breaks Out To Reclaim Top 10 Spot Cardanos price has steadily declined after the March highs, registering a 42% drop in the last six months. During the Q1 rally, the token hit its highest price since 2022, reaching the $0.774 price range. Since then, ADA has nosedived to pre-rally levels, disappointing some investors and market watchers. The crypto community has repeatedly slammed the project for a lack of appeal to the broader public. Additionally, many have criticized ADAs underwhelming price action. However, the tokens recent rally has sparked a bullish sentiment among some community members. Despite the early September market shakeouts, the cryptocurrency has registered a 10% surge from its monthly opening, seeing green numbers in the weekly and biweekly timeframes. Technical analyst Crypto Yapper noted Cardanos recent performance. The analyst highlighted that ADA displayed a multi-month descending broadening wedge structure on its chart with multiple touch points on the top side and on the lower side. Inside this structure, the cryptocurrency displayed a smaller falling wedge pattern with its upper trendline being tested again on Monday. The analyst stated that the $0.35 was the first crucial resistance level for the token. Claiming this key zone and breaking out of the falling wedge pattern could create more bullish action and move the price toward the upper line of the bigger bullish structure. On Monday, Cardanos token reclaimed the $0.36 range, a level not seen in nearly a month. The surge sent ADAs price toward the $0.37 resistance level, turning the $0.375 price range into a support zone on Tuesday morning. The recent performance also pushed Cardano back to the top ten cryptocurrencies list after ADAs market capitalization surged 6%, surpassing Tron (TRX) in the last 24 hours. Analysts See New Price Targets For ADA Today, Crypto Yapper noted that ADA broke above resistance as the cryptocurrency was creating a higher high on the daily chart. This performance indicates a huge trend reversal for Cardano. However, he pointed out that to break above the descending broadening wedge, the token must reclaim its second key resistance level at $0.39. If successful, the breakout could target the structures higher price range of $0.52. Related Reading: Bitcoin (BTC) On Track For Strongest September Performance, Is $90,000 Next? Other analysts also highlighted ADAs performance and breakout, suggesting that the cryptocurrency has the potential for a 170% surge. Dan Gambardello pointed out, “Cardano just went through a phenomenal throwback to a colossal triangle pattern. To the analyst, If crypto is about to enter a green October, I anticipate ADA will reclaim $1 with haste. ADA is trading at $0.378, a 6.2% and 12.2% surge in the daily and weekly timeframes. Featured Image from Unsplash.com, Chart from TradingView.com

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Bitcoin (BTC) On Track For Strongest September Performance, Is $90,000 Next?

Bitcoin (BTC), the largest cryptocurrency by market capitalization, has led the market recovery with its surge to the $63,000 mark. Following the recent developments, the flagship cryptocurrencys performance has seen an 8% weekly surge, driving BTC to one of its best September performances since its creation. Related Reading: Polygon (MATIC) To Come back From The Dead As Ascending Triangle Appears Bitcoin Registers Sixth Green Daily Candle During the first week of the month, Bitcoin saw its price struggle to keep above the $55,000 mark, plummeting to the $52,000 support zone and raising investors alarms. The rest of the sector followed BTCs lead, dropping 12% to a market capitalization of $1.81 trillion earlier this month. Since then, the market has seen a significant boost, mostly fueled by the US Federal Reserves (Fed) rate cut. Following the Feds announcement, the sector recovered 5%, continuing its ascending trajectory throughout the weekend. Due to the positive market sentiment, crypto investment products ended the week with $321 million in inflows, the second weekly positive net flows in a row. The inflows were led by Bitcoin-based products, which registered $284 million last week, according to the CoinShares report. BTC, propelled also by Kamala Harris recent acknowledgment of the crypto industry, recovered 20% from the monthly lows of September 6. The rebound pushed the cryptocurrencys price toward the $64,000 resistance level, which was last held a month ago. After failing to reclaim the key resistance level, Bitcoins price has been hovering between the $63,000-$63,900 range throughout Monday morning, registering six green daily candles since September 17. Will BTC See Four Green Months In A Row? BTCs recent price action has translated into green numbers in the month-to-date (MTD) timeframe, making September a green month for the cryptocurrency. Coinglass data reveals that the flagship crypto displays a 7.94% return MTD. This performance was noted by some market watchers, who suggest that Bitcoin is on its way to registering its best September so far. In an X post, Crypto Jelle highlighted that BTC is currently on track for the strongest September performance in its history after its current MTD return surpassed that of September 2016. To the analyst, the flagship cryptocurrency is preparing for a promising performance next quarter. Jelle also pointed out that BTC has only closed September with green numbers three times. However, the times this has happened, the cryptocurrencys monthly returns have closed in the green for four months straight. This suggests that Bitcoin may be on the verge of a massive bull run for Q4. Close this month in the green, and the odds are high October, November and December will close green as well. He pointed out that this week will be decision time for the flagship cryptocurrency, as a higher high is within an arms reach. A push above the $65,000 resistance level would flip the narrative and see BTC moving to levels not seen since early August. Related Reading: Bitcoin Could Reach $108,000 To $155,000 By 2024 End, Analyst Reveals Why The cryptocurrencys chart displays a massive descending broadening wedge, which has the potential to hit $90,000 after a breakout. Ultimately, the analyst considers that Bitcoin wont trade within this pattern for much longer. As of this writing, the flagship trades at $63,700, a 1.7% and 10% surge in the daily and weekly timeframes. Featured Image from Unsplash.com, Chart from TradingView.com

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XRP $0.60 Triangle Breakout Could Ignite Parabolic Rally Key Levels To Watch

XRP trades at a pivotal moment after several days of volatile price action, sparking renewed optimism among investors. Some analysts believe that XRP is on the verge of breaking out from a massive 4-year bullish triangle pattern, which has served as an extended accumulation period.  Related Reading: Bitcoin Indicator Signals Shift To Bullish Territory Can BTC Break Past $65,000? This technical formation has been steadily building up, and now XRP appears poised for a significant expansion phase. Following years of underperformance caused by the ongoing SEC lawsuit and broader economic uncertainty, the market is watching closely for a potential breakout. If XRP breaks through its current resistance levels, many expect a parabolic rally, potentially leading to new highs. Investors eagerly await confirmation of this move, viewing it as a crucial moment in XRP’s long-term market trajectory. As momentum builds, XRP’s next moves could define its performance in the coming months and its role in the broader crypto market.  XRP Price Action Suggests A Bullish Breakout  The entire crypto market has experienced a surge, with Bitcoin and many altcoins seeing double-digit percentage increases in price. This rally follows the Federal Reserve’s recent decision to cut interest rates by 50 bps, sparking optimism among investors who believe a new crypto bull run is on the horizon. XRP investors also feel optimistic, as analysts share promising insights suggesting positive performance in this cycle. Related Reading: Ripple Whales Accumulate Over 380 Million XRP in Just 10 Days: Is A Breakout Near? One prominent crypto analyst, Carl Runfelt, shared his technical analysis on X, highlighting the bullish triangle pattern that XRP has been forming since 2020. According to Runfelt, XRP could see explosive growth during this bull cycle, potentially going parabolic and rising by over 200% within weeks if the pattern breaks. The key level to watch is $0.60, which has acted as significant resistance in recent weeks. If XRP breaks above this critical price point, it could trigger a wave of “fear of missing out” (FOMO), driving substantial demand and pushing prices to new highs. Investors are closely watching this level, anticipating a breakout that could reshape XRPs trajectory for the remainder of the cycle. Pivotal Liquidity Levels XRP is currently trading at $0.587, sitting at a crucial level that could ignite a massive rally for the altcoin. After surging 15% since early September, the price is testing the weekly 200 moving average (MA) at $0.609 as resistance, a level that has held XRP down since April. Breaking through this barrier is essential for bulls aiming to extend the rally. XRP has reclaimed the weekly 200 exponential moving average (EMA) at $0.52, a strong demand zone since early July. This level will be key in holding up the price if a correction occurs. Related Reading: Crypto Analyst Predicts Dogecoin Will Surge 1,000% Past ATH Price Targets Revealed For XRP to continue up, the price must break the $0.60 level and reclaim the 1W 200 MA as support. A clean break above these levels would signal the potential for a larger rally and a shift in market sentiment. However, failure to close above current levels could lead to more sideways consolidation or even a deeper pullback. In that scenario, XRP may retest the weekly 200 EMA at $0.52, which could work as a critical support level. Featured image from Dall-E, chart from TradingView

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Bitcoin Could Reach $108,000 To $155,000 By 2024 End, Analyst Reveals Why

An analyst has explained why Bitcoin could end the year 2024 inside the $108,000 to $155,000 range if history repeats for the asset. Bitcoin Performance Has Been Similar To Last Two Cycles So Far In a new post on X, analyst James Van Straten has discussed about the BTC price performance from the cycle low chart for the last couple of cycles. As its name suggests, this chart captures the price trend between successive cyclical lows. For the latest cycle, the start-point is naturally the bottom that was observed shortly following the collapse of the cryptocurrency exchange FTX back in late 2022. Related Reading: Bitcoin Hype Remains Low Even After $63,000 Surge: Green Sign For Rally? Below is the chart shared by Van Straten, which shows how this most recent cycle has stacked against the last two so far: As is visible, the asset’s recent price performance has been remarkably similar to that witnessed in the past two cycles at the same stage. “Out of all the graphs, TA etc, Bitcoin from the cycle low continues to be the most valid,” notes the analyst. Given the similarity so far, it’s possible that the coin’s trajectory in the current cycle may continue to mimic that of the last two. Van Straten has pointed out that both these cycles finished September higher. Not just that, this is also the point at which the two began a long-lasting surge that culminated into the bull run highs. Thus, it’s possible that Bitcoin may also surge from here, if the current cycle continues to follow the last two. “If BTC were to finish EOY between the two previous cycles, which it has done for most of the current cycle, we would be looking at 108k-155k,” explains the analyst. From the latest Bitcoin price, a rally to the lower end of this range, $108,000, would mean an increase of around 70%, while that to the $155,000 upper level would suggest growth of more than 144%. Related Reading: These Altcoins Are Seeing High Whale Interest After Fed Rate Cut As always with patterns that depend on history, though, it’s not necessary that BTC would show a rally in this range to end the year. Nonetheless, the analyst says, “if we don’t get a recession, this is entirely possible.” In some other news, as market intelligence platform IntoTheBlock has pointed out in an X post, Tether’s stablecoin, USDT, has reached a new high in its supply recently. As displayed in the above graph, the the USDT market cap has witnessed some sharp growth recently. With the metric’s value now nearly at $120 billion, Tether’s token has left the other stablecoins way behind. The inflows into the stablecoin can actually be relevant to Bitcoin, as capital from USDT generally tends to find its way into the original cryptocurrency. Thus, the growth to a new record suggests the investors potentially have more dry powder available to buy BTC with than ever before. BTC Price Bitcoin has gone stale after its recent recovery as its price is still trading around the $63,600 mark. Featured image from Dall-E, IntoTheBlock.com, Glassnode.com, chart from TradingView.com

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BONK Bulls Take Over: Upside Momentum Builds After Pullback

After a brief pullback, BONK is showing signs of renewed strength as bullish momentum begins to build. The recent price action indicates that bulls have regained control, pushing the token out of its recent slump.  As the market shifts, traders are now eyeing a potential upside breakout, with BONK’s next targets becoming increasingly clear. Could this be the beginning of a fresh rally, or will the bears attempt to reclaim their dominance once again? In this article, we’ll provide an in-depth analysis of BONK’s recent price action following its pullback and explore the renewed bullish strength that has emerged. By examining key technical indicators, well assess whether this shift in momentum signals the potential for further upside and a breakout, or if the token is likely to face resistance in the near term. Technical Indicators: Signs Of Bullish Momentum Building Recently, BONKs price has turned bullish on the 4-hour chart, rebounding and moving above the $0.00001792 resistance level. The meme coin is trading above the 100-day Simple Moving Average (SMA) and is demonstrating strong momentum, with a current focus on moving toward the $0.00002962 level. An analysis of the 4-hour Relative Strength Index (RSI) indicates that bulls may be poised to make a comeback. Although the RSI has decreased to 59% from the overbought zone, it remains above the 50% threshold, suggesting that bullish momentum is still present. This positioning indicates that while there has been some cooling off, the market retains the potential for upward movement as long as the RSI stays above this key level. Related Reading: Bonk Inu (BONK) Skyrockets 10%, Dethroning WIF As Solanas Largest Meme Coin Also, on the daily chart, BONK is displaying positive momentum, evidenced by a rejection wick on the present daily candlestick. Despite being below the 100-day SMA, this rejection wick shows that buyers are stepping in and pushing the price higher, causing the selling pressure to diminish. Finally, on the 1-day chart, a close look at the 1-day RSI formation suggests that BONK may fully resume its upward movement as the indicator’s signal line has climbed above the 50% threshold and is currently positioned at 53%. Potential Upside Targets: Where Could BONK Be Headed Next? As BONK demonstrates renewed bullish strength, key resistance levels to watch include the $0.00002320 mark, where previous price action has encountered obstacles. If BONK can break through this level, it could pave the way for further gains, potentially reaching the next target of around $0.00002962 and beyond. Related Reading: Can BONK Break The Mold? Analyst Predicts Stellar Rise For The Solana Memecoin Conversely, if BONK faces significant resistance at $0.00002320, the price may consolidate or attempt to test the $0.00001792 support level. A break below this range accompanied by strong volume could signal a continuation of the downward trend, possibly targeting the support level at $0.00000942. BONK was trading at about $0.00001803, showing a 2.33% decline over the last 24 hours. The cryptocurrency’s market capitalization stood at roughly $1.2 billion, while trading volume exceeded $128 million, marking decreases of 2.32% and 23.11%, respectively. Featured image from LinkedIn, chart from Tradingview.com

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Crypto Shorts Suffer $147 Million Squeeze As Bitcoin Returns Above $63,000

Data shows the cryptocurrency sector as a whole has witnessed a high amount of liquidations following the volatility Bitcoin and others have gone through. Bitcoin Has Recovered Back Above The $63,000 Level Following the news of the US Federal Reserve cutting back on interest rates, Bitcoin has responded positively, with its price breaking above the [...]

The post Crypto Shorts Suffer $147 Million Squeeze As Bitcoin Returns Above $63,000 appeared first on Crypto Breaking News.

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BNB Rides Bullish Wave After 100-Day SMA Breakout, Next Stop $605?

Recent price movement reveals that BNB has surged past a critical barrier, clearing the 100-day Simple Moving Average (SMA) and signaling renewed bullish momentum. With this breakout, BNB bulls are setting their sights on the $605 resistance level, as market sentiment strengthens around the potential for further gains. The move above the 100-day SMA has sparked optimism, hinting at the possibility of a sustained rally as BNB looks to capitalize on this momentum and break through key price targets. The goal of this analysis is to highlight BNBs recent surge above the 100-day Simple Moving Average (SMA) and evaluate the potential for continued positive movement toward the $605 resistance level. By examining current market dynamics and technical signals, this analysis aims to provide insight into whether BNB can maintain its upward momentum and achieve a significant breakout in the coming sessions. Rallying Strength: Analyzing BNB’s Surge Above The 100-Day SMA On the 4-hour chart, BNB has demonstrated sustained positive momentum after successfully breaking above the 100-day Simple Moving Average (SMA). This significant breach has not only triggered a shift in market sentiment but set the stage for a bullish trajectory as BNB rises toward the $605 mark. BNBs ability to maintain above this key technical level reflects growing confidence among traders, suggesting that the upward movement may continue. Additionally, the Relative Strength Index (RSI) on the 4-hour chart has climbed above the 50% threshold, currently sitting at 69%. This upward movement in the RSI indicates that bulls are firmly in control, as the index approaches overbought territory. If selling pressure remains subdued, there is potential for an extended increase in BNBs price, signaling a strong bullish trend ahead. Related Reading: BNB Weekly Active Addresses Surge Over 6% Is A Rally On The Way? On the daily chart, BNB is maintaining an upswing toward the $605 resistance level while trading above the 100-day Simple Moving Average (SMA). The price has printed multiple candlesticks above this key indicator, underscoring the strong buying pressure from investors and indicating a solid sentiment in BNB’s potential for continued growth. Finally, on the 1-day chart, a careful examination of the formation of the 1-day RSI reveals that BNB could sustain its bullish trend toward the $605 resistance mark as the signal line of the indicator has risen above 50% and is currently attempting a move towards the 70% threshold. Whats Next For BNB As Resistance Beckons With strong buying interest and positive market sentiment, BNB is gearing up to reach the $605 resistance level. When BNB breaks above this point, it could lead to more gains, aiming for the $635 resistance zone and beyond. Related Reading: BNB Price Struggles to Hold $500: Is a Breakout Coming? However, the altcoin may face a pullback toward the $537 support mark if the momentum falters and fails to surpass this level. A decline below this support could lead to additional drops, with the price potentially testing the $500 support range and other lower levels. At the time of writing, BNB was trading at approximately $575, reflecting a 3.05% increase over the past day. Its market capitalization was around $84 billion, with trading volume surpassing $1.9 million, showing increases of 3.05% and 9.81%, respectively. Featured image from Adobe Stock, chart from Tradingview.com

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Shiba Inu Jumps Nearly 6% In Latest Price Rebound, Rally Incoming?

Shiba Inu has caught the market’s attention once again with a nearly 6% price rebound, signaling renewed bullish momentum for the popular meme coin. After a period of consolidation, this jump has raised speculation that the bulls might be returning to drive the price higher. Could this price surge mark the beginning of a major rally, or is it just a temporary spike? All eyes are on the next move. This analysis aims to explore the recent 6% price rebound of Shiba Inu and assess whether this upward movement signals the start of a larger rally. By examining key technical indicators and market trends, we determine if the current momentum can sustain further gains and levels to watch for potential breakouts or pullbacks. Indicators And Trends: Are Bulls Gaining Strength? Recently, SHIBs price has turned bullish on the 4-hour chart, rebounding from the $0.00001272 support level. The cryptocurrency is trading above the 100-day Simple Moving Average (SMA) and is demonstrating strong momentum, with a current focus on moving toward the $0.00002045 level. An analysis of the 4-hour Relative Strength Index (RSI) reveals that bulls have been firmly established in the market. The RSI’s signal line has surged past the 50% threshold to around 69%, reflecting increasing positive movement for the cryptocurrency. This upward trend suggests that buying interest is intensifying, and momentum could continue to build, potentially leading to further price gains. Related Reading: Shiba Inu Seen Exploding 1,000%-7,300%: Bold Predictions Signal Massive Growth Meanwhile, on the daily chart, Shiba Inu is still showing upbeat momentum, marked by the formation of bullish candlesticks. This indicates a favorable shift in price action as the cryptocurrency moves towards the 100-day SMA and the $0.00002045 level, with the bullish candlestick patterns suggesting a growing upward strength. Furthermore, if this momentum continues, SHIB could see further advances as it approaches this key resistance level. Finally, on the 1-day chart, a careful examination of the formation of the 1-day RSI reveals that SHIB could sustain its optimistic trend as the indicator’s signal line has risen above 50% and is currently attempting to move towards the 60% threshold. What Could Next Moves Look Like For Shiba Inu As Shiba Inu continues its upward trajectory, several scenarios could unfold. If the cryptocurrency maintains its bullish momentum and breaks through the $0.00002045 resistance level, it could signal the start of a significant rally, potentially pushing toward the next resistance level at $0.00002631. Related Reading: Get Ready For Take-Off! Shiba Inu Price To Jump 7,350% Analyst Conversely, should SHIB encounter strong resistance or a pullback, the price might consolidate or move to test $0.00001272 support level. When the price breaks through this range with strong volume, it could indicate a continuation of the downward trend and possibly target the support level at $0.00000847. SHIB was trading at approximately $0.00001415, reflecting a 6.97% gain over the past 24 hours. Its cryptocurrencys market capitalization reached around $8.3 billion, with trading volume surpassing $230 million, representing an increase of 6.73% and 72%, respectively. Featured image from iStock, chart from Tradingview.com

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Dogecoin Miners In Accumulation Mode, But Is This Really Bullish?

On-chain data shows the Dogecoin miners have been accumulating recently. Here’s what this could mean for the memecoin, based on past pattern. Dogecoin Miner Supply Has Been Going Up For A While Now In a new insight post, the on-chain analytics firm Santiment has talked about the role of the miners in the different cryptocurrency markets like Bitcoin and Dogecoin. The indicator of interest here is the “Supply held by Miners,” which, as its name suggests, keeps track of the total amount of tokens that the miners of a network as a whole are carrying in their balance. Related Reading: Bitcoin Toughest Time Over: Why Q4 Could Be A Game-Changer When the value of this indicator goes up, it means the miners are receiving net deposits into their wallets right now. Such a trend implies this cohort may be in a phase of accumulation. On the other hand, the metric registering a decline suggests these chain validators are withdrawing a net number of tokens from their balance, potentially for selling purposes. First, here is a chart that shows the trend in the Supply held by Miners for Bitcoin over the past year: As is visible in the above graph, the Supply held by Miners and the Bitcoin price has shown some correlation during the past year. As Santiment has explained in the post: When miners choose to hold onto their coins rather than selling, its often a sign that they expect prices to rise, which can create positive momentum in the market. However, when they start offloading large amounts, it can put downward pressure on prices. Most recently, the BTC Supply held by Miners has been on the rise again after plunging to relatively low levels earlier. Thus, it would appear that these chain validators may be accumulating once more, which can be bullish for the asset. The relationship that miners show to the BTC price is similar to many other cryptocurrency networks. However, that is not the case with meme coins like Dogecoin. According to the analytics firm: If it’s a very speculative-driven asset, you can often pick up an inverse indication between what miners are doing and where the altcoin is going price-wise compared to Bitcoin. The inverse relationship is visible in the below chart for the Dogecoin Supply held by Miners. From the graph, it’s apparent that the Dogecoin Supply held by Miners had plunged back in January, but what followed this selloff from the miners was a sharp surge in the DOGE/BTC ratio. Related Reading: Altcoin Watch: Mega Whales Are Taking These Alts Off Exchanges Over the last couple of months, the chain validators of the asset have seen their supply register a rapid increase. Given the inverse relationship the metric and the price tend to follow, however, this accumulation could be a bearish sign for the asset. DOGE Price Dogecoin had made recovery beyond the $0.107 mark earlier, but the memecoin has since gone downhill as it’s back at $0.100. Featured image from Dall-E, Santiment.net, chart from TradingView.com

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Injective (INJ) Breaks $18 Resistance: Investors Expect Higher Prices

Injective (INJ) has been outperforming the broader crypto market in recent hours, gaining over 19% since Monday, while most cryptocurrencies have experienced declines of 2% to 4% since yesterday.  Related Reading: Is Chainlink (LINK) $12 Breakout Imminent? Data Reveals A Rising Open Interest This strong performance comes after the altcoin broke through the $18 resistance level, signaling bullish momentum. Investors and analysts are now eyeing higher prices for INJ, with some suggesting it could be poised for even more significant gains shortly. However, INJ must test key supply levels and establish support within critical demand zones for this uptrend to continue. The current optimism surrounding Injective is backed by encouraging price action, but sustained upward movement will be needed to confirm a lasting trend.  As the market watches closely, INJs ability to hold these levels may determine its potential for further growth in the coming days. Injective Setting New Local Highs  Injective (INJ) has experienced a strong surge after days of choppy and uncertain price action. Now, trading above the 4-hour $18 resistance, the altcoin has ignited excitement among investors and analysts, who believe INJ could be a top performer in this market cycle.  One notable analyst, Crypto General on X, has shared his technical perspective on INJ, setting high expectations for a $53 price target in the coming months. His analysis points out that INJ is currently rebounding from its lower trendline support, a critical level that has served as a foundation for this rally.  According to Crypto General, INJ could experience a powerful upward movement if this support holds. However, he also warns that if the price fails to maintain this level, we could see a decline toward the $14 range, which would signal a reversal of recent gains. Investors are carefully watching this development, as INJs recent price action could set the stage for more significant moves in the near term. The key will be whether INJ maintains its momentum and breaks through resistance levels. If bulls can push the price above its next resistance zone, a rally toward the mid-$20 range could be on the horizon, further solidifying its position in the market. Related Reading: Solana (SOL) Surges Past $130 Resistance As Funding Rate Signals Bullish Momentum As the market establishes its direction, price action in the coming days will play a pivotal role in determining INJs performance in the weeks ahead. Whether it continues to rise or faces a pullback will likely depend on broader market conditions and the ability of bulls to sustain upward momentum. INJ Price Action Details  INJ is trading at $19.38 after a significant surge from yearly lows near $15. This upward movement has propelled the price above the 4-hour 200 exponential moving average (EMA) at $18.41 for the first time since late August. The 4H 200 EMA is a crucial indicator of short-term market strength. If INJ can successfully retest and hold above this level, it would suggest a bullish continuation, signaling that further upward momentum is likely. Related Reading: Avalanche (AVAX) Ready To Target $28: Investors Expect A Reversal Maintaining this position above the 4H 200 EMA would allow INJ to target higher price levels, with resistance and supply zones near $23 as the next key hurdle. However, if the price fails to hold this level and loses support at $18, a retrace toward lower demand zones around $16 could occur. In the short term, how INJ behaves around the 4H 200 EMA will be pivotal in shaping its next price action phase. Featured image from Dall-E, chart from TradingView

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