World Crypto Global Official Site | fibonacci retracement level

Author: Semilore Faleti

Cardano (ADA) At A Crossroads As Fibonacci Level Indicates Potential Fall To $0.42

Market prices of Cardano (ADA) increased by over 3% on Friday amid a general bullish wave in the crypto market. However, this minor uptick only follows the largely negative performance earlier seen in the week. Notably, popular crypto analyst Ali Martinez postulates the ninth-largest cryptocurrency could still experience steeper market losses if certain technical support fails to hold. Related Reading: Shiba Inus Shibarium Marks 1 Billion Transactions Milestone, But Why Is SHIB Price Still Struggling? Cardano Critical Support Break Could Lead To 36% Decline In a recent post on X, Martinez shares a cautionary insight on the current ADA market structure hinting at a potential price fall. Based on the Fibonacci retracement levels, Martinezs analysis indicates that Cardano still trades near a vital support zone despite recent gains. The Fibonacci retracement levels are horizontal lines commonly used to identify potential support and resistance zones. They are based on the Fibonacci sequence and are widely used in anticipating a price fall, gain, consolidation, or reversal. Looking at the chart below, ADA currently trades at $0.66 which is just above the 50% Fibonacci retracement level at $0.63 – a price zone that has acted as a resilient support level in recent weeks. Ali Martinez warns a daily close below $0.63 would signal a bearish shift in market control at this level paving the way for a further decline. In this case, Cardano could fall to test the next significant support at the 61.8% Fibonacci retracement level around $0.53. If the selling pressure prevails at this zone, ADA prices could potentially slide to $0.42 representing the 78.6% Fibonacci retracement level. Related Reading: Chainlink Whales Dump Over 170 Million LINK In Three Weeks Selling Pressure Ahead? What Next For ADA? Cardano has struggled to maintain a prolonged bullish form after reaching a local peak of $1.30 in early December 2024. Since then, ADA prices have been in a corrective phase alongside the broader crypto market. For ADA bulls, defending the $0.63 price level is crucial to sustaining any valid bullish outlook. However, a successful price reclaim of the $0.78-$0.80 price zone would signal an impending price rally and market rebound for the altcoin. At the time of writing, Cardano trades at $0.66 as earlier stated. Amid recent gains, ADA is down by 5.00% on its weekly chart and 33.58% on its monthly chart reflecting a domineering bearish influence in recent weeks. Meanwhile, daily trading volume has gained by 19.56% in the past 24 hours indicating a rise in market interest. This development suggests the recent price rally might be sustainable due to a strong conviction among buyers. Featured image from CoinCentral, chart from Tradingview

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XRP Bulls Eye $5 Target: Key Levels To Watch For Potential Breakout

Author: Semilore Faleti

United Kingdom

Source: NewsBTC

Apr 06, 2025 12:05

XRP Bulls Eye $5 Target: Key Levels To Watch For Potential Breakout

Prominent market analyst and XRP enthusiast Egrag Crypto has rolled out a robust bullish prediction for the XRP market. Amid recent gains, Egrag Crypto postulates that XRP could surge to around $5 but not without resistance at certain price levels. At press time, the popular altcoin continues to trade around $2.12 reflecting a 3.99% gain in the past day amid a widespread price bounce in the crypto market. Related Reading: Shiba Inus Shibarium Marks 1 Billion Transactions Milestone, But Why Is SHIB Price Still Struggling? Fibonacci Levels Reveal $2.70 As Key To Major XRP Rally – Details In an X post on Friday, Egrag shares a positive technical outlook on the XRP market suggesting a potential massive price rally. This projected bullish run comes in multiple phases each barred by the clearance of a new resistance level. To show any signs of a price uptrend, the market analyst states that XRP bulls must first reclaim the $2.24 price level which aligns with the 21-day exponential moving average – a key trend indicator. Egrag explains that a daily close above this level would show sufficient base demand to kickstart a price recovery. Thereafter, another successful XRP daily price close above $2.30 would solidify bullish intent signaling a stronger upside continuation. This is because this price level represents the Fib. 0.382, which is a key retracement zone in technical analysis and typically acts as a resistance in a downtrend and support in an uptrend. Moving on, the next crucial resistance lies at $2.47 which aligns with Fib. 0.5. A convincing breakout above this price resistance zone would further increase the potential of a sustained uptrend. However, the strongest signal for a major rally and a new all-time high price will come only after XRP closes above $2.70 which coincides with both the yellow resistance line and the Fib. 0.618. Interestingly, Fib. 0.618, known as the golden ratio, is considered another important Fibonacci level that acts as support in an uptrend, and failure to break past which could signal a price reversal and halt the uptrend. However, if XRP successfully surpasses the listed resistance zones, Egrag forecasts a potential surge to $5.00 at Fib. 1.618, representing a 133% gain from the current market price and signaling strong potential for new price discovery. Related Reading: Is The Solana Bottom In? Experts Answer XRP Price Overview As earlier stated, XRP currently trades around $2.12 following the minor gains in the past day. Based on the daily trading chart, the altcoin remains far below its 100-day simple moving average suggesting a dominant bearish force. However, the Relative Strength Index (RSI) which stands at 42.69 moving upward, signals the potential for more price growth before a possible reversal. With a market cap of $123.06 billion, XRP continues to rank as the fourth largest cryptocurrency. Featured image from EXMO, chart from Tradingview

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Ripple (XRP) at a Crossroads: Hold 0.702 Fib or Risk a Sharp Drop to $1.25

Author: Usman Zafar

Estonia

Source: TronWeekly

Apr 27, 2025 02:30

Ripple (XRP) at a Crossroads: Hold 0.702 Fib or Risk a Sharp Drop to $1.25

Ripple (XRP), the fourth-largest cryptocurrency by market cap, is at a critical juncture as technical analysis points to a potential short-term correction. XRP is trading at $2.19, with a 24-hour trading volume of $3.2 billion, according to CoinMarketCap. The token has seen a 5.7% increase over the past week, reflecting strong momentum fueled by recent […]

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XRP Price Flashes Symmetrical Triangle From 2017, A Repeat Could Send It as Flying To $30

Author: Scott Matherson

United Kingdom

Source: NewsBTC

Apr 12, 2025 12:05

XRP Price Flashes Symmetrical Triangle From 2017, A Repeat Could Send It as Flying To $30

The XRP price may be gearing up for a historic breakout as a long-term Symmetric Triangle pattern from 2017 resurfaces on the charts. If history repeats and a similar explosive move follows, a crypto analyst predicts XRP could skyrocket to an eye-popping $30. XRP Price Triangle Pattern Signals Breakout Above $30 A new technical analysis by Egrag Crypto, a crypto analyst on X (formerly Twitter), has stirred excitement among XRP supporters, suggesting that the digital asset may be on the brink of a historic price surge and that XRP could jump from its current market value of $2 to reach $30 soon. Related Reading: Crypto Pundit Reveals What Will Happen If XRP Price Does Not Break $2.3 While this figure may seem rather ambitious, Egrag Crypto has identified a massive Symmetrical Triangle formation on XRPs monthly chart. Interestingly, the analyst has revealed that this pattern is strikingly similar to one that preceded XRPs legendary 2,600% rally in the 2017 bull market. In the 2017-2018 bull market, XRP had surged to an all-time high of $3.84 in just months. Now, after years of tightening price action within a giant Symmetrical Triangle, the altcoin appears to be breaking out once again, and this time, the analyst predicts that the upside could be even more explosive. According to Egrag Cryptos chart, if the asset mirrors its previous 2,600% triangle breakout, it could soar from the breakout zone around $1.20 to as high as $32.36. Notably, XRPs Symmetrical Triangle formation is a classic consolidation pattern that usually results in a bullish surge in the direction of the prevailing trend. Currently, XRPs all-time high is $3.84. A potential surge to $32.36 would represent a whopping 741.6% increase, propelling its price to a level far exceeding its historical peak. Bullish Pennants Strengthen Symmetrical Triangle Forecast Egrag Cryptos bullish forecast for XRP is supported by a textbook diagram comparing bullish pennants and symmetrical triangles, both of which point to double target zones once a breakout occurs. The pattern suggests that once the altcoin escapes its multi-year consolidation, the analysts projected rally may play out in three stages: an initial pump, followed by a retracement, and a second explosive move. Related Reading: XRP Price Eyes 20% Move With Golden Pocket Appearance The XRP price chart shows a lower target, around $3.52, which aligns with the 1.0 Fibonacci retracement level. This indicates that the token could see a temporary rebound to 3.52, followed by a short-term pullback to the triangle breakout point at $1.20, before ultimately bouncing toward the projected $32.36 target. Notably, this movement aligns with XRPs current market structure, where it has maintained long-term support and is now showing signs of upward momentum. While historical price patterns offer insights into potential moves, the predicted rise to $32.36 is uncertain, given the magnitude of such a rise. Featured image from Adobe Stock, chart from Tradingview.com

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