Dogecoin Ready For $0.3? Analysts Bullish On DOGE Price Breakout Attempt

Over the weekend, Dogecoin (DOGE) soared 11% after the general market performance. The price surge led the dog-themed token to retest key resistance levels, which fueled a bullish prediction by crypto analysts. Investors also shared a positive sentiment following Elon Musks recent comments regarding cryptocurrencies and the largest memecoin by market capitalization. Dogecoin Attempts To [...]

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Is Ethereum (ETH) About To Retest $4,000? Analyst Foresees 3x Rally

Amid the market slowdown, crypto analysts believe Ethereum (ETH) might be ready to retest key resistance levels again. Meanwhile, investors are expectant about the second-largest cryptocurrency performance as the final approval of spot ETH ETFs (exchange-traded funds) approaches. Is Ethereum ETFs Approval Already Priced In? The upcoming approval of spot Ethereum ETFs has crypto investors [...]

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GMX Soars 20% Amid Crypto Whale Frenzy, Is It Back In Turbo Mode?

GMX, the native token of decentralized perpetual exchange GMX, has soared over 20% in the past 24 hours. The surge was seemingly fueled by a crypto whale move that ignited the communitys positive sentiment towards the token. Some analysts believe GMX might be preparing for a breakout above the $60 mark. Related Reading: AVAX Primed To Break $100 Barrier As Bullish Signs Emerge Whales Send GMX To New Wallets In the early hours of Thursday, a whale withdrew over 85,000 GMX tokens from crypto exchange Binance. Per the reports, the whale sent the funds to a fresh wallet, boosting the price surge. The whale withdrew 84,515 GMX, worth around $3.77 million, in five transactions for an average price of $43.07. This move propelled the price from $40 to $44 in the following hours. Moreover, the price jump resulted in over half a million in unrealized profit for the crypto investor. Similarly, reports of another whale withdrawing GMX from Binance surfaced this morning. According to the post, 72,300 GMX tokens were sent to a wallet from Binance. The wallet now holds 82,768 GMX, worth $3.69 million. The tokens surge appears to have begun before the whale activity. GMXs price jumped from the $36 price range to the $42 mark on Wednesday, which fueled the positive sentiment of the crypto community. In the past 24 hours, GMX rose 22.2%, trading above $44 now. The recent performance represents a 26% and 76.3% price increase in the weekly and monthly timeframes. Moreover, it has registered a surge in its market activity, registering a 121% daily trading volume increase in the last day. Crypto Analysts Bullish On GMX The tokens performance didnt go unnoticed by crypto analysts. The market watchers expressed their bullish sentiment towards GMX and set a short-term target. According to Daan Crypto, GMX appears to be running back to turbo mode. The token is currently up 2x from its bottom registered in April of this year. Moreover, GMX is trading back above the daily 200MA/EMA. To the analyst, the $41 support zone will be a key level to hold going forward. He also considers the $60 price range a good target for the tokens bullish momentum. Crypto trader and analyst JJcycles also weighed in on GMXs performance. The trader highlighted a bullish flag pattern on the tokens chart. Per the analyst, GMX is nicely reversing into the beginning of the third wave. JJcycles also pointed out the token successfully broke out of the $40 resistance level in the following hours. To the trader, it looks like GMX printed the bottom in April when it went as low as $22. Additionally, he called out those who capitulated within the bottom accumulation range, including Arthur Hayes. Just like it is supposed to be, capitulators are in pain, wrote the analyst. Related Reading: Fake Crypto Airdrop: Tethers CEO Warns Of Ongoing Supply Chain Email Exploit As reported by NewsBTC, the BitMEX founder was the largest individual holder of GMX, with over 230,000 GMX tokens. In April, Hayes seemingly accepted capitulation after sending all his GMX holdings to an address linked to crypto algorithmic trading firm Wintermute Trading. At the time, GMX investors criticized the transaction, suggesting that the altcoin was in that buy zone again. Featured Image from Unsplash.com, Chart from TradingView.com

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Ethereum (ETH) Set For Glorious Year, Analyst Eyes $10,000 Target

Ethereum (ETH) saw a significant upswing at the end of May due to the rumors of a spot ETH ETF (Exchange-Traded Funds) approval in the US. This bullish momentum propelled the tokens price from the $3,000 price range to the $3,900 mark. Related Reading: Solana-Based GameStop Tribute Token (GME) Soars 300% Following Roaring Kittys Return After the approval, the second-largest cryptocurrency has shown a strong performance, consolidating between the $3,700 and $3,800 levels. Some crypto analysts believe ETH is preparing for a crucial test and eye bullish targets above the $10,000 price range soon. ETHs Glorious Year Depends On This Level According to crypto analyst Jelle, a community sector is currently driven by a negative sentiment towards Ethereum. The bearish sentiment, seemingly fueled by Ethereums failure to regain the $4,000 resistance level, has made lots of people overcomplicate things here. As a result, Jelle urged investors not to panic, arguing theres no reason to flip bearish. The crypto analyst highlighted the key movements the King of Altcoins has seen in the past two weeks. Due to the spot ETH ETF approval, Ethereum broke out of a multi-moth falling wedge pattern. At the time, ETH successfully regained the $3,600 price range and briefly tested the $3,900 price range. After reclaiming this key support level, ETH has been consolidating above it, hovering between the $3,700 and $3,800 price range since May 28. According to the analyst, the cryptocurrency is reclaiming the range lows of a 3-year-long reaccumulation range. Per Jelles chart, ETH is regaining the lowest range of the previous bull run, which could lead to an expansion period. If the second-largest cryptocurrency by market capitalization holds above this key level, Ethereum will have a glorious year. Additionally, the analyst considers that ETHs last hurdle to overcome this cycle is the $4,000 resistance level. Once it breaks $4,000, it’s clear skies ahead to potentially reach the price target of $10,000. Similarly, known crypto analyst Il Capo of Crypto noted that his main scenario is a bullish continuation. Per Il Capo, Ethereum is looking good above the $3,650 range. This performance seemingly sets the cryptocurrency for a bullish continuation towards the previous cycles all-time high (ATH). Ethereum ETFs, The Catalyst For New ATH? Despite the doubts, Ethereums recent performance resembles Bitcoin’s (BTC) in previous cycles. According to crypto trader Ash, ETH is following the path of the flagship cryptocurrency in 2018-2021. If it continues this track, $10,000+ ETH is programmed. As the crypto market awaits the listing of the spot ETF, some analysts consider it the catalyst for an explosive alt season this year. Similarly, Ali Martinez noted that over 777,000 ETH, worth around $3 billion, have been withdrawn from exchanges since the US Securities and Exchange Commission (SEC) approved the investment products. Due to a supply squeeze, this development could propel ETHs price to higher levels. However, Lookonchain recently revealed that two participants of Ethereums Initial Coin Offering (ICO) deposited around 4.5% of their holdings on a crypto exchange. Per the post, the ICO participants received 200,000 ETH, worth around $767 million, at Ethereums Genesis. Related Reading: The Half-Million Dollar Bitcoin: Predictions Point To Monumental Price Surge In 18 Months The holders deposited 9,518 ETH, or $36.33 million, into Kraken on Monday, which has alarmed investors. Despite the fear of a possible dump, some community members think this movement could suggest that these long-term holders believe ETHs price will reach unprecedented highs soon. Featured Image from Unsplash.com, Chart from TradingView.com

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Curve (CRV) Bounces 40% From All-Time Low As Whales Go On Shopping Spree

Rubmar is a writer and translator who has been a crypto enthusiast for the past four years. Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, [...]

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Is Solana Preparing For Liftoff Or Meltdown? Analysts Forecast SOLs Future

After the recent market pump, Solana (SOL) recovered an important support zone. As a result, analysts have debated whether the altcoin is poised for a liftoff to a new all-time high (ATH) or about to face a meltdown. Related Reading Analysts Fear SOLs Top Is In After recovering the $160 support zone over a week [...]

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Ethereum Soars 5.6% Ahead Of ETF Decision, Analysts Set Bigger Price Target

Ethereum (ETH) price is soaring ahead of the Securities and Exchange Commission (SEC) decision regarding the Spot ETH ETF (exchange-traded fund). Investors’ and market watchers’ optimism has increased as the King of altcoins surpasses the $3,900 mark. Some analysts believe this bullish momentum could soon propel ETHs price above all established price targets. Related Reading: Ethereum Whales Come Alive: Are They Buying Or Selling? Ethereum Soars Amid ETF Approval Expectation Ethereum, the second-largest cryptocurrency by market capitalization, has seen a significant uptick this week. As rumors of ETH spot ETFs being approved this Wednesday surged, the communitys sentiment towards the asset turned extremely bullish. Previously, Bloomberg experts had asserted that chances of an ETF approval were slim due to the US governments crackdown on the industry. However, this weeks U-turn from the Biden administration sparked a positive sentiment that increased the chances to 65-75%. As a result, Ethereum surged an impressive 30.4% from its price seven days ago. The King of altcoins went from trading just below the $3,000 mark to surpassing the $3,900 resistance level at the time of writing. The community’s optimistic expectations continue as several US lawmakers urge SEC chair Gary Gensler to approve Ethereum ETFs. As reported by Eric Balchunas, a bipartisan group of House lawmakers sent a letter on Tuesday to the SECs Chair asking for the approval of ETH ETFs and other digital assets. According to the letter, the Congress members believe digital asset-backed ETFs offer investors a regulated and transparent investment vehicle to gain exposure. The US lawmakers urged the Commission to maintain a consistent and equitable approach when reviewing upcoming applications for other crypto ETFs. Are Price Targets Too Low? Ethereum has performed remarkablely over the past few days. ETH has surged 5.6% as the community awaits the SECs decision. As pointed out by several market watchers, ETHs weekly candle is resting levels not seen since the first half of March. Crypto Yoddha highlighted Ethereums historic behavior for the previous all-time high (ATH) runs. Per the chart, the second-largest crypto asset went through a 700-day accumulation phase before breaking out and starting the bullish run. Similarly, ETH seemingly ended a 700-day accumulation period this cycle, which could lead to a rally towards a new ATH, if history repeats. The analyst set a target of $15,300 for this cycle. Likewise, Crypto Jelle pointed out that ETH broke out of a multi-month falling wedge pattern. Its recent performance successfully reclaimed the key resistance above the $3,600 mark and is currently testing the $3,900 price range. The trader considers that, if this is the current performance before the approval of ETH ETFs, his $10,000 target for this cycle might be too low.  However, he urged investors to try not to get sucked into overtrading. He considers the initial response to the decision hard to know despite the bullish sentiment. Ultimately, Jelle suggests the community to focus on what you know as the long-term outlook is much clearer. Related Reading: Altcoins Maniac Phase Preparing, Analysts Call For Next Leg Up On a similar note, Crypto analyst Mikybull points out that ETH is repeating the 2020 path that sparked off Alts season in 2021. Due to this, the trader considers that the bull targets for this cycle are $9,000-$11,000. The SECs decision regarding ETH ETFs will be announced around 8:30 pm UTC on May 23. Featured Image from Unsplash.com, Chart from TradingView.com

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Altcoins Maniac Phase Preparing, Analysts Call For Next Leg Up

The crypto industry has seen a positive shift with the recent market recovery. After a Q1 full of bullish sentiment, Q2 saw many sectors of the crypto space brewing a pessimistic feeling toward altcoins. Related Reading Experts and market watchers have reassured investors that the price corrections were part of the cycle, predicting that the [...]

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Fetch.AI Soars 14.5% As AI Tokens Surge, Can FET Reach $4?

The crypto market is 5.1% up today, with a total market capitalization of $2.3 trillion. The recent pump has propelled different sectors, with memecoins being 9% up and Artificial Intelligence (AI) tokens increasing 11.2% in the last 24 hours. Related Reading: Crypto Analyst Shares Top AI Altcoin Investments This Month Fetch.AI (FET) is at the forefront of the AI sector with its remarkable 14.5% increase in the past day. Some analysts foresee a bullish breakout for the token soon. Are AI Tokens Taking The Lead? As reported by NewsBTC, many market experts consider Artificial intelligence tokens a contender for the cycles biggest narrative in round 2. Alex Wacy said the artificial intelligence industry is on the brink of a multi-trillion-dollar boom due to the increasing interest over the last year. As a result, the analyst considers the sector could create a market valued in the trillions, reaching $2 trillion by 2030. This week, AI tokens have performed strongly. Altcoin Sherpa pointed out that the sector is looking decent overall, with tokens like Arweave (AR), Ocean Protocol (OCEAN), and Fetch.ai performing the best. Renowned traded Daan Crypto considers the AI sector to be bouncing the strongest on this new market move, while memecoins seem to be the weakest. The trader shared his thoughts on Fetch.AIs recent performance. Daan highlighted the tokens attempt to break above the diagonal trendline. Per the chart, FET is testing the diagonal resistance, with the $2.35 mark being the first resistance level to reclaim. A breakout above this level could be a good start to a further trend change. Moreover, the token broke above the 4H 200MA/EMA already. Per the trader, FET would need to test the $2.5 mark and remain above the $2.35 price range to break the trend and head higher over the next couple of weeks. Similarly, crypto trader Scient considers the token consolidating inside a one-day ascending bullish triangle. His chart highlights the $2.12 mark as support for the diagonal trendline. He forecasted a deviation below the trendline towards 1D 100EMA before reclaiming the $2.12 price range and moving back inside the triangle. If a retest and confirmation of the trendline reclaim occurred, the trader suggested he would long it. Analysts Forecast $4 For FET Crypto analyst World of Charts identified a textbook bullish pennant pattern on FETs chart. The analyst expects an upside breakout soon, potentially leading to a 2x bullish wave. If the breakout is successful, the tokens price could move above the $4 price range. $Fet Formed Text Book Bullish Pennant Expecting Upside Breakout Soon Expecting 2x Bullish Wave Incase Of Successful Breakout #Crypto #Fet #Fetchai pic.twitter.com/Y3c0pqNFgN — World Of Charts (@WorldOfCharts1) May 15, 2024 Moreover, CryptoBoss seems to concur with this forecast. The trader shared a similar chart, signaling a possible breakout that could drive the token to double its price. In the post, he stated, $FET 4$ exe loading… Related Reading: By The Numbers: Over 1 Million New Crypto Tokens Launched Since April In the past 24 hours, the token has surged an impressive 14.5%, going from $2.04 to hover between the $2.3-$2.32 price range. This increase represents 7.5% and 13.2% in the weekly and monthly timeframes. Similarly, FET has seen a rise in market activity. Its daily trading volume increased by 102%, with $354.2 million traded on the last day. Featured Image from Pexels.com, Chart from TradingView.com

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NEAR Protocol Soars 7.3%, Is It Poised To Go Higher?

As the crypto industry navigates the waves of this bull run, projects like NEAR Protocol (NEAR) are edging forward with new partnerships and developments. NEARs remarkable performance has crypto analysts considering that the toke is getting underway for a massive surge. Related Reading: Is SUI Sinking? TVL Tanks As Crypto Price Fails To Keep Afloat Is NEAR Protocol A Market Leader? At the beginning of the week, crypto analyst World of Charts recognized a bullish flag pattern formed on NEARs monthly chart. According to the analyst, a successful breakout could be followed by a 60-65% bullish wave in the coming days. On Thursday, NEAR tested the $7.00 resistance level, reaching above the $7.50 mark before retracing as the day ended. NEAR breaking out of the bullish flag pattern on Thursday. Source: World of Charts Affirming his previous forecast, the analyst stated that if the token successfully holds above the breakout level, investors could expect the price to move towards $14-$15. Since then, the token has remained above the $7.00 mark, hovering between $7.3-$7.1. Another crypto analyst has been following NEARs performance this week similarly. According to Bluntz, the token has been one of the strongest movers from the lows and will probably be one of the first to make fresh highs. Moreover, he considers NEAR one of the better performers in the top 20 cryptocurrencies. Previously, the trader displayed a chart identifying an ABC zigzag pattern followed by a still-forming impulse wave pattern. NEAR's forming a impulse wave pattern according to the analyst. Source: Bluntz As NEAR broke out of the $7,00 resistance, the analyst reaffirmed his prediction for the tokens movements, considering it a market leader right now. Bluntz added that the token kept plodding along making fresh highs while everything else has stalled out and continued accumulating. Network Expansion And Price Surge The NEAR Protocol is a Layer-1 user-friendly and carbon-neutral blockchain focused on performance, security, and scalability. According to its team, the blockchain for everyone was built with usability in mind. NEARs total value locked (TVL) of $309 million makes it the 16th largest blockchain by this metric. Notably, the network has doubled its TVL since Q4 2023, when it sat in the 25th spot with $128 million. The protocol collaborates with other projects constantly to continue expanding financial horizons. Projects like NodeKit and TrueZK have recently integrated NEARs solution designed for Ethereum rollups, NEAR DA. Similarly, on Thursday, it announced its partnership with Colombian fintech Lulo X and Peersyst Technology to redefine the parameters of digital finance. These collaborations have been seemingly well-received by the NEAR community. Despite being down by 6.25% in the monthly time frame and 65% below its all-time high (ATH) of $20,44 set in January 2022, the blockchains token has shown a remarkable performance during this bull run. In the last three months, NEAR has soared over 146%. Moreover, the tokens daily trading volume has increased by 6.5% in the past day, with over $800 million traded. Likewise, its market capitalization has risen 5% during the same timeframe, making it the 17th biggest cryptocurrency by this metric. As of this writing, NEAR is trading at $7.2, representing a 7.3% jump in the last 24 hours and a 26% rise in the past week. Related Reading: Crypto Bull Run Set To Return Next Week, Predicts Arthur Hayes NEAR's performance in the one-week chart. Source: NEARUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com

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Is Bitcoin Getting Ready For An Explosive Breakout? These Analysts Believe So

The fluctuations in Bitcoin’s price have marked the tempo of the crypto market and the communitys sentiment. While some feel pessimistic about the rally slowdown, some analysts believe the flagship cryptocurrency is just getting ready to reach higher notes. Related Reading: Is The Bitcoin Top Already Here? This Historical Pattern Says So Next Stop: Bitcoins Parabolic Upside Crypto analyst and trader Rekt Capital considers Bitcoin (BTC) is currently awaiting a period of consolidation. In an X post, the trader highlighted that, during the previous Halvings, BTC saw Re-Accumulation Ranges. The analyst shared his chart for Bitcoin phases during the Halving, which he has previously used to explain BTC was at the Last Pre-Halving Retrace before April 19. At the time, the analyst pointed out that the re-accumulation phase was next. Bitcoin went through one during the previous Halving, as seen in the chart. The re-accumulation consisted of two consolidation periods followed by the Post-Halving Parabolic Upside, which saw BTC reach last cycles all-time high (ATH) of $69,000. Bitcoin phases during the "Halving". Source: Rekt Capital on X Rekt Capital highlighted that, during this cycle, the flagship cryptocurrency has already experienced five re-accumulation ranges. Similarly to the last cycle, the latest re-accumulation phase seems to have started during the Pre-Halving Rally phase. Per the analyst, this will be followed by the Parabolic Upside if history repeats itself. Analyst Mikybull seems to share a similar view to Rekt Capitals, as he highlights that Bitcoins parabolic rally is loading. The re-accumulation breakout is set to be explosive, and not many are prepared for this, he added. The analyst explained that the RSI on a macro scale is at the same level as it was in 2017, which was followed by a huge rally to cycle top. Based on this, he believes the current consolidation comes from institutions preparing for a huge rally to cycle top. Analyst Sets Crucial Level For Bitcoin’s Breakout A day before Bitcoins Halving, the cryptocurrency faced a correction that shredded 7% of its price in a few hours. BTC went from hovering between the $64,000-$63,000 price range to trading below the $60,000 support zone. Since then, the largest cryptocurrency by market capitalization appears to have steadily recovered from the drop. Over the weekend, Bitcoin regained the $65,000 support level before testing the $66,000 one, which it reclaimed on Monday. Over the last few days, BTC has hovered between $66,000 and $67,000. However, it has not been able to successfully test the resistance level set at the $67,000 price range. According to the crypto analyst Bluntz, Bitcoins most recent performance suggests that the price will continue to move sideways between the $66,000 and the $67,000 range. However, he also considers that BTC is gagging for a breakout soon, as the chart displays a bullish pennant pattern forming. Per the analyst, once we clear 67k, the whole market will fly above the latest ATH. As of this writing, Bitcoin is trading at $66,665, a 7.5% increase from a week ago and a 66.22% in the last three months. Related Reading: Standard Chartered Reaffirms $150,000 Bitcoin Price Target By Year-End Bitcoin's performance in the weekly chart. Source: BTCUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com

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ACT Memecoin Crashes 50% As Several Altcoins Suddenly Tank On Binance Whats Going On?

On Tuesday morning, several altcoins nosedived up to 50% on global crypto exchange Binance, sparking confusion among investors. Several community members shared theories for the incident, speculating that recent adjustments in the exchanges position limits could be responsible. Related Reading: Is Bitcoin (BTC) Poised For A Q2 Recovery? Analyst Points To 2017 Similarities Altcoins See Q2 Opening Crash On Binance Multiple altcoins saw a peculiar start to Q2 after their price tanked on Binance on Tuesday morning. The crypto community raised the alarm after Solana-based memecoin and AI Agent token Act I: The AI Prophecy (ACT) plunged around 50% in less than an hour. The cryptocurrency, which once had a market capitalization of $722 million, has moved sideways for most of March, hovering between the $0.18-$0.19 price range until today. In 30 minutes, ACT crashed from the $0.189 mark to the $0.087 level, registering a 53% fall. Similarly, the DEXE, KAVA, DF, HIPPO, BANANAS31, LUMIA, TST, and QUICK tokens also recorded a sudden price drop, losing between 10% and 35% of their value in an hour. ACTs team acknowledged the incident, stating, Dear ACT community, we want to assure you that we’re fully aware of the current situation. Our team is actively investigating and working collaboratively with all relevant parties to address this matter. The post also noted they had begun developing a response plan alongside their trusted partners. Analyst Altcoin Sherpa suggested that a price bounce for ACT seems likely but noted that ppl might realize that they dont really want to hold this coin and view this as a forced rebalance event. Nobody buying. Nobody selling. No April Fools Joke As Binance posted about a different April Fools joke, investors started to speculate what caused the sudden bleeding, with some joking that the prank had gone too far. The crypto community guessed that Wintermute was responsible for the Altcoin massacre, as it reportedly liquidated several of its positions today. Nonetheless, the trading firms CEO, Evgeny Gaevoy, denied the rumors, stating, Not us fwiw, but also curious about that postmortem. Meanwhile, Lookonchain suggested that Binances recent update of its leverage and margin tiers on several altcoins, including ACT, could have been the reason for the token crash. Six hours later, Binance Customer Support replied to Wu Blockchains report, revealing that the reason for the dump was that three VIP users cross-sold tokens worth 514,000 USDT in the spot market and a non-VIP user transferred a large amount of ACT from other platforms and sold 540,000 USDT worth of the token in a short period. As a result, the cryptocurrencys price dropped, which led some users to close their futures contracts, triggering the decline of other altcoins. The crypto exchange pointed out that they recently took the initiative to take preventive measures to adjust leverage multiples downward. Related Reading: Crypto Analyst Calls Dogecoin Chart A Beauty As Key Indicators Align Binance Contracts has recently issued consecutive adjustment announcements for the ACTUSDT perpetual contract, during which there was no market movement and no active reduction of any user’s position, the post detailed. Binance added that it will continue to investigate the incident and update the relevant details if there is any news, concluding that the crypto market has been volatile recently and asking investors to exercise caution. Featured Image from Unsplash.com, Chart from TradingView.com

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Analysts Bullish On Bitcoin Despite Peter Schiffs $20,000 Doom Scenario

Over the weekend, the Bitcoin (BTC) crash had the crypto community on its toes. With the price dropping to $60,000, many investors worried that the flagship cryptocurrency was in trouble ahead of the Halving event. Amid the correction, Bitcoin critic Peter Schiff claimed that his previous predictions regarding spot Bitcoin ETFs (exchange-traded funds) were correct [...]

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Analyst Predicts Solana (SOL) Bounce Amid Network Congestion Problems

Solana (SOL) faced difficulties the past week after the networks transaction failure rate reached over 75%. Since then, Solanas core contributors have been working to find the congestion problems. SOLs price tumbled 7.8%, and users seemed worried about the networks state. Despite this, some analysts predict a more optimistic performance for SOL soon. Related Reading: Paradigm Drives $225M Funding Round For Monad Labs, Blockchain Rival To Ethereum, Solana Is Solana Poised For A Bounce? According to crypto analyst Bluntz, Solanas drop has reached its bottom. When the news of network congestion broke, the analyst predicted that SOLs price would likely fall to $160 before seeing a bounce. According to his chart, the performance was starting to show an ABC zig-zag pattern. At the time, the token was trading around the $184 price range, which meant that the C wave of $160 had yet to be confirmed. The analyst remained open to the possibility of a sideways correction. Nonetheless, he considered it would make no sense for sol/usd to sweep down lower below 160. On Wednesday, SOL reached a low of $162, sweeping the A wave low. To the analyst, this seems to be the bottom for SOLs price despite being $2 short of his prediction. As a result, Bluntz considers that the tokens price will go higher from here. ABC pattern on the SOL monthly chart. Source: Bluntz Another analyst, Immortal Crypto, pointed out that SOL has shown a good range between $210 and $160. According to the analyst, a deviation from here is a fat long, 100%. Despite the possible bounce forecast, analyst Altcoin Sherpa expects SOL to drop to $140, a level it has not seen in almost a month. Will The Network Upgrade Help SOL? In the last 24 hours, Solanas price has risen 6%, recovering from the drop to the $162 range. Despite a 7.8% drop in the past week, the price surged 13.5% in the last 30 days. Similarly, the daily trading volume increased by 28% in the past 24 hours, suggesting a surge in the tokens market activity. Nonetheless, investors remain concerned about the network as the problems continue, with some suggesting that the tokens price wont start pumping until the tech is sorted out. Solana is widely recognized for its fast transactions and low fees. However, the current on-chain failure rate presents problems for both users and developers. Responding to the critics and concerns, Austin Federa, Head of Strategy at the Solana Foundation, gave insights into the problem. Developers from Anza, Firedancer, Jito, and other core contributors are working diligently (and not sleeping much) to shore up Solana's networking stack to meet the unprecedented demand the network is seeing today. There's been a lot of threads on what exactly is causing the — Austin Federa | (@Austin_Federa) April 10, 2024 According to Federa, developers from the core contributors to the Solana chain are working diligently to shore up Solana’s networking stack to meet the unprecedented demand the network is seeing today. The developer explained that the implementation of a software system is today not robust enough to handle the amount of traffic being thrown at it. As a result, the core protocol developers are working to test and implement improvements, leaving increasing fees as a last resort. At the time of this writing, SOL is trading at $174.57. Related Reading: Solana Open Interest Drops $370 Million Amid Network Troubles, $200 Still Possible? Solana performance in the weekly chart. Source: SOLUSDT on Tradingview  Featured Image from Unsplash.com, Chart from TradingView.com

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Are Arbitrum Investors Still Selling Off? Analysts Remain Bullish On ARB As Price Surges 5.2%

Arbitrum (ARB), the Ethereum Layer 2 (L2) scaling solution, recently went through an unlocking event as part of its 2024 roadmap. However, the event raised concerns about how the tokens price would react amid the market slowdown.  Its been a week since Bitcoins price started to dip. Despite BTCs recovery, the market still exhibits red numbers. Crypto analysts remain optimistic about ARB and the markets bullish run.  Related Reading: Bitcoin Traders Capitulate: Heres What Happened Last 2 Times Are Arbitrum Whales Still Dumping On Exchanges?  The event on March 16 unlocked 1.1 billion ARB tokens. These tokens were distributed among the team, advisors, and investors, who received 438.25 million ARB, approximately 40% of the total tokens unlocked.  Since then, Arbitrum whales have dumped millions of ARB on exchanges. As reported by NewsBTC, eleven whales recently sent over $58 million worth of the token to different trading venues.  Yesterday, the trend continued as two ARB whales sent around $12.72 million worth of ARB to the Binance exchange. These whales are seemingly investors who received around 28.43 million ARB tokens during the unlock. ::on-chain insights::$ARB investors are selling their tokens: two wallets which potentially belong to $ARB investors several hours ago sent their tokens to @binance wallet 0x1dc firstly sent 3 $ARB to be sure that they will arrive to his binance account and then sent pic.twitter.com/L8yfKnOnvK — Catakor (@Catakor) March 21, 2024 As reported by an X user, the first wallet received 19.845 million ARB on March 16. This whale sent 3 ARB to Binance as a test before offloading 3.9 million tokens worth $6.9 million. The second whale sent 3.424 million ARB tokens to Binance yesterday in two transactions, accounting for $5.79 million. Out of the 28 million tokens these investors received during Arbitrums unlock, the wallets now only hold 804,000 ARB, worth around $1.42 million.  Analysts Foresee Leg Up For ARB Arbitrums most recent downward trajectory started right before the unlocking event. After ARBs price failed to maintain the $2 support level, the token dropped over 30% to trade around $1.48 on March 19.  Since then, ARB has started to rise and retest its resistance levels again. According to crypto analyst World Of Charts, ARB broke a bullish flag on March 20.  Successfully retesting the $1.64 price range could potentially bring a 40-45% Bullish Wave, per the analyst. $Arb Finally #Arb Has Already Started As Expected Send It Now https://t.co/6RouflzapC pic.twitter.com/zGE6KFtIpk — World Of Charts (@WorldOfCharts1) March 20, 2024 ARBs retest above the suggested price range succeeded in the following hours. The token rose to the $1.8 mark in the early hours of today before returning to the $1.75 price range.   Crypto analyst Bluntz projected a leg up for Arbitrum after the price neared the $1.8 resistance level. As the analyst highlighted, ARBs price performance shows an a,b, and c zigzag pattern that could suggest an upward trajectory for the token. Additionally, he expressed optimism about the markets health based on the tokens performance. you know the market is healthy when even eth and eth beta is looking good again$arb pic.twitter.com/gjn4zduLW7 — Bluntz (@Bluntz_Capital) March 21, 2024 ARB is trading at $1.76 at writing time, representing a 5.2% increase in the last 24 hours. Although it shows a 14% and 12% decrease in the weekly and monthly timeframes, its current price still represents a 29.4% surge since the year began. Related Reading: Arbitrum Whales Are HODLing; Why Are ARB Prices Tanking? ARB's price trends to the upside on the hourly chart. Source: ARBUSDT on Trading.view.com Featured Image from Unsplash.com, Chart from TradingView.com

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BNB On The Rise: Analysts Predict Easy Path To New ATH As It Nears $600

Binance Coin (BNB) has been on a bullish run despite the regulatory scrutiny that Binance has faced over the last several months. The token registered an impressive 13.7% price surge after almost reaching $600, and analysts predict that a new all-time high (ATH) might be coming in the next couple of months. Is The Cost [...]

The post BNB On The Rise: Analysts Predict Easy Path To New ATH As It Nears $600 appeared first on Crypto Breaking News.

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Crypto Analysts Are Giga-Bullish On XRP Price, Set Multiple Price Targets

Crypto analysts are currently optimistic about the XRP price trajectory in the coming months, setting different price targets, with some of them more bullish than others. XRP, like most top cryptocurrencies, is always subject to price predictions from analysts as the entire crypto market continues to anticipate the resumption of a market-wide rally.  Consequently, experts on social media are calling for some pretty wild price targets for XRP if the bull run kicks back into gear. Other market factors, like the possibility of an XRP ETF, are also bound to come into play in the quest for a price rally. Crypto Analysts Remain Bullish On XRP Despite Price Consolidation XRP has been on price decline since the beginning of the year. At the time of writing, the XRP price is trading at $0.5375, down 14% from the $0.625 level in early January. Notably, price movement recently went on a surge at the beginning of February as the broader cryptocurrency market witnessed inflows spearheaded by Bitcoin. As a result, XRP climbed to the $0.57 price level on February 15.  Related Reading: Fundstrat Exec Predicts Bitcoin Will Reach $150,000, Heres When Despite the ongoing consolidation and lackluster price action, crypto analyst EGRAG CRYPTO has predicted a $1.4 XRP price target in the coming months. The analyst, known for his strong positive stance on XRP, made this prediction while looking at the wicking, ranging, consolidation, and bullish stages of XRP. According to a color-coded price chart shared on social media by EGRAG, XRP is currently in the wicking stage. XRP recently closed above a long-term support level of $0.5141 at the top end of the red flag stage. Consequently, we could see XRP passing through into the bullish stage and $1.4 in the coming months.  It’s worth noting that the $1.4 price point coincides with a 1.618 Fib extension from $0.3536. EGRAG had noted in the past that XRP reaching $1.4 would set the stage for a progression to $5. Related Reading: Elliot Wave Theory Predicts Bitcoin Bottom And Top, Here Are The Targets Dark Defender, another crypto analyst, used the wave strategy to predict various bullish price points. According to a social media post, XRP could continue the current downturn until it reaches the end point of a wave 2 correction between $0.5198 and $0.5066. Subsequent waves 3, 4, and 5 formations would then see XRP tearing past  $0.6649, $0.7707, and $0.9191. Analyst Dr. Profit also noted the potential of inflows rushing into XRP in the next 30 to 60 days. The analyst divulged that he bought 500,000 recently while calling XRP the “next shining bull.” In the spirit of bullish countenance, a popular Bitcoin day trader recently disclosed that his father sold his house for $800,000 and allocated the proceeds to purchase XRP. Although this might seem very daring and unbelievable, it emphasizes the vast amount of optimism among some XRP investors. XRP rises to $0.53 | Source: XRPUSD on Tradingview.com Featured image from CryptoRankl, chart from Tradingview.com

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Bitcoin open interest surge past $35B raises overheating concerns

Bitcoins recent surge in open interest beyond $35 billion has analysts worried about potential signs of froth in the market.

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