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Explore the intricacies of the Moving Average Convergence Divergence (MACD) and its significance in trading, as outlined in Bitfinex's educational series. (Read More)
Explore the MACD indicator's role in identifying momentum shifts in the market, as explained in Bitfinex's Chart Decoder Series. Learn how to interpret MACD components for better trading decisions. (Read More)
Filecoin (FIL) hovers at key support with a TD Sequential buy signal suggesting a potential rebound. But traders watch for confirmation
The on-chain analytics firm Santiment has explained how this Bitcoin indicator has been one of the top leading indicators in the cryptocurrency market. Holdings Of Bitcoin Investors With At Least 10 BTC May Correlate To Price In a new post on X, Santiment has discussed about a metric that has historically been one of the top leading indicators in the sector. The metric in question is the total amount of supply held by the Bitcoin investors carrying at least 10 BTC in their wallets. Related Reading: How High Can Bitcoin Go Before A Top? Analyst Chimes In At the current exchange rate of the cryptocurrency, this cutoff is equivalent to around $683,000. As such, the investors holding sums of this scale or higher would be larger than the regular retail holders. Key groups such as sharks and whales fall in this range. These cohorts are generally considered to be influential beings, so their behavior can be worth keeping an eye on. While the 10+ BTC group wouldn’t solely include these large investors, the trend in its holdings would still at least in part encapsulate what these key holders would be doing. Now, here is a chart that shows the trend in the combined holdings of investors carrying balance in this range over the last few years: As displayed in the above graph, the Bitcoin supply held by investors belonging to this group has been going up recently, suggesting that accumulation has been occurring from the large holders. According to Santiment, there has historically been a pattern between the price and the behavior of the investors falling in this range. “When they accumulate, cryptocurrencies rise. When they dump, extended bear markets come,” explains the analytics firm. Instances of this trend are also visible in the chart. The supply held by this cohort started rising in October 2019 and kept up the rise throughout the bull run that followed in 2021. In February 2022, the behavior of these Bitcoin investors changed, however, as their combined holdings started heading down instead. This led into the bear market. The decline stopped after the FTX crash back in November 2022 and the holdings of these investors took to sideways movement in 2023. At the end of the year, another shift finally happened as the metric gained an uptrend. This accumulation likely kicked off because of the imminent spot exchange-traded fund (ETF) approval in January. These investors kept up this buying pressure post-approval as well, which all culminated into the rally towards the new all-time high (ATH). Related Reading: Is Mt. Gox A Worry For Bitcoin? Crypto Analyst Weighs In Despite the struggle that Bitcoin has faced recently, the trend in the indicator hasn’t flipped. As such, more bullish price action could be ahead for the asset, if historical pattern is to go by. BTC Price Bitcoin has fallen back to sideways movement recently, with its price trading around $68,300 at the moment. Featured image from Dall-E, Santiment.net, chart from TradingView.com
TRON (TRX) holds steady at $0.2480 with $157M in volume. Technicals hint at a rebound which clash with balanced market sentiment.
Deribit exchange data reveals that the put-to-call ratio for Bitcoin options contracts is currently at 0.50, with a maximum pain point of $61,000.
As the cryptocurrency market continues to witness heightened optimism and confidence from investors, Crypto Con, a popular crypto analyst, and enthusiast has predicted the timeline for Bitcoin to reach its peak in the ongoing bull cycle, based on past BTC runs and their cumulative peaks. Bitcoin Peak To Happen Less Than A Year By analyzing historical data, Crypto Con has identified trends that might pinpoint the time the largest cryptocurrency asset by market reaches its highest point in this cycle. According to the expert, the Stochastic Momentum Index (SMI) Ergodic Indicator shows that Bitcoin is exactly where it should be in the current bull cycle. Related Reading: Historical Trends Unveil Bitcoin Peak Timing in Current Bull Cycle At this point, Crypto Con believes there is still a lot of room for growth in the upcoming days. Thus, BTC’s current position, which is around a year from cycle peaks, places this cycle’s peak between January and February of 2025. However, December 2024 remains the analyst’s focus, which, at the current rate, is expected to be the cycle’s top month. Crypto Con further hinted at the recent recovery from a perfectly healthy correction observed in the crypto market as a potential catalyst to drive the price of Bitcoin higher. The post read: The SMI tells us that Bitcoin is right where it should be in the cycle, with much more room for growth. Our current position lines up at about 1 year from cycle tops, which would make this cycle’s top in Jan – Feb 2025. My eye is still on December 2024, a likely cycle top month at our current rate. Given that the analyst previously predicted BTC to reach $149,000 by the end of the year, it could mean the expert expects the asset to top out at the level by December. “Bitcoin is still on track for a layer 7 price target of $149,000 by the end of this year,” he stated. Crypto Con’s prediction is in line with the most precise measurements for Log Regression Curves and the cycle tops in 2021. By then, the more cautious layer 6, which is the layer that denoted the 2013 cycle top, aims to reach the $108,000 level. During the prediction, the expert highlighted a price consolidation, which is a new development in this cycle. However, as volatility decreases, this consolidation is accurate. Determining BTC’s Peak Through Fibonacci Extension Crypto Con has also utilized the Fibonacci Extensions to determine the Bitcoin price peak this cycle. According to cycle retraces highlighted in his chart, the first two cycles approached the 2.618 extension quite closely, while the last struck the 1.618 extension. Related Reading: Economist Foresees $115,000 Bitcoin Peak, Followed By Largest Crash Since 1929 On the possibility that the 1.618 point will repeat itself this cycle, BTC’s price will be at $159,128. “This is one of the many perspectives to be balanced in the basket of possibilities, and I would consider this estimate to be on the optimistic for this cycle,” he added. At the time of writing, Bitcoin is slowly gaining momentum toward $70,000, indicating a 5% increase in the past week. Its market cap is down by 0.25%, while its trading volume is down by 12% in the past 24 hours. Featured image from iStock, chart from Tradingview.com
Explore how the Relative Strength Index (RSI) serves as a crucial indicator in identifying overbought and oversold market conditions, aiding traders in making informed decisions. (Read More)
Stellar (XLM) stands close to $0.28 support and technical indicators are mixed, causing experts to pay close attention.
On-chain indicators such as the Bitcoin MVRV Z score, Puell Multiple and hodl waves paint a bullish picture for Bitcoin investors.
A new technical analysis reveals that the XRP price has just confirmed a bullish reversal set-up on the 1-hour chart, following a strong rebound from a critical demand zone. This development has raised expectations of a potential short-term rally, as a crypto analyst forecasts higher targets in the coming sessions. XRP Price Bullish Reversal In Sight FrankFx14, a pseudonymous TradingView crypto analyst, has revealed that the XRP price has found solid footing between the $2.31246 and $2.37028 support area. The analyst also identified this range as a historically significant demand zone where previous buying pressure has consistently reversed price declines. Related Reading: XRP Price Explosion To $5.9: Current Consolidation Wont Stop XRP From Growing As XRPs price dipped into this demand zone on May 17, bulls stepped in, defending the lower boundary and triggering a sharp rejection. According to the analyst, the confirmation came with a bullish engulfing candle a widely recognized signal for a potential trend reversal. Trading at approximately $2.378 at the time of the chart analysis, XRP is now holding the top of this key demand zone, indicating renewed buying interest. The TradingView analyst has suggested that as long as the price remains above $2.37028, XRPs bullish outlook remains intact. According to the TradingView expert, the presence of XRPs bullish reversal setup is supported by the LuxAlgo Supply and the Demand Visible Range indicator. With XRPs price action breaking upward from its local bottom, the analyst points to $2.4939 as the next key level to watch. This price marks the mid-level of a previous supply zone and a likely resistance area. The next bullish target for XRP is $2.6031. The analyst has described this point as a major supply zone where sellers previously gained control. These price zones are now considered primary targets for short-term traders positioning for potential upside. FrankFx14 has urged traders to wait for further confirmation, highlighting that strong trading volume and candle closes above the $2.375 level would be the key to validating XRPs bullish continuation. Analyst Forecasts Mega Rally For The Altcoin XRP has officially broken out of a long-term Falling Wedge pattern, sparking optimism, with analysts like Crypto Avi believing that a mega rally could be on the horizon. According to his chart analysis, the token is now poised for a mid-term surge, targeting new all-time highs around $4.90. Related Reading: When Will The XRP Price Explode? Timeline Shared By Crypto Pundit Presently trading at $2.29, a surge to this bullish target would represent a significant increase of 114% for the altcoin. The chart illustrates that the cryptocurrency has been trapped in a downward-sloping channel since late 2024, consolidating in a pattern seemingly recognized as bullish. XRP is currently testing the Falling Wedges breakout level, which may now act as support. A sustained move above this level could confirm the analysts bullish thesis, paving the way for a potential climb toward $4.90. Featured image from Getty Images, chart from Tradingview.com
SEI has seen a bullish breakout occur for the first time since October and it remains above important support.
AGIX is one of the leading AI tokens in the crypto space with a total supply of 2 billion, and a total trading volume of over $105 million, which is over 11% down in the last 24 hours. For over two days, the price of AGIX has been holding strong above the 100-day Simple Moving Average (SMA). The token which has been on a downward ally for quite some days, is showing some signs of price reversal and if this happens a change of direction might occur and the price of AGIX will start a new movement upward. As of the time of writing, AGIX was trading around $0.98817 above the 100-day simple moving average, about 1.68% up in the last 24 hours. Currently, there are two main resistance levels of $0.99038 and $1.04237 and two main support levels of $0.82620 and $0.75779, respectively. Technical Indicators Suggest Upward Rally For AGIX 4-Hour MACD: A technical look at the MACD indicator from the 4-hour timeframe, the MACD histograms are trending above the zero line, and both the MACD line and the Signal line have crossed and are trending above the MACD zero line, indicating a bullish trend. This can be seen in the below image. 4-Hour RSI: The formation of the Relative Strength Index (RSI) in the above image also suggests that the price of AGIX is bullish as the RSI signal line is seen trending above the 50% level. This indicates that buyers are active in the market therefore overpowering the strength of sellers. Alligator Indicator on the 4-hour timeframe: A look at the alligator indicator from the 4-hour time frame shows that the price is trading above the alligator lines as the alligator lip and teeth have both successfully crossed above the alligator jaw, suggesting that the price might continue to move in an upward direction. Support And Resistance Levels To Break Conclusively, the price of AGIX is currently trading around the $0.99038 resistance level and if it manages to break above this level, AGIX’s price will continue to move further toward the $1.04237 resistance level and if it breaks above this level, an upward trend might begin. However, should the price of AGIX fail to break these resistance levels, it will reverse and start a downward movement toward its previous support level of $0.82620. If it manages to break below this support level, the price might move further to test the $0.75779 support level. Featured image from X, chart from Tradingview.com
The cryptocurrency market remains turbulent, with significant fluctuations in value that can present opportunities for investors. An analyst predicts that Bitcoin could reach $135,000 within the next 100 days based on market volatility indicators. Market indicators play a crucial role in predicting the future movement of cryptocurrencies like Bitcoin. These indicators help investors make informed [...]
A quant has explained what a potential leading Bitcoin indicator could say about whats next for the cryptocurrencys price. Bitcoin Coinbase Premium May Hold The Answer To Where BTC Goes Next In a CryptoQuant Quicktake post, an analyst has talked about the trend currently taking place in the Bitcoin Coinbase Premium. We can use the [...]
The post Buy Or Sell Bitcoin? Quant Reveals What Leading Metric Says appeared first on Crypto Breaking News.
Following weeks of sideways movement, Bittensor (TAO) has broken out of its long-standing downtrend firmly, crossing above important resistance levels and reigniting investor interest. Highlights a clear Break of Structure (BOS) above $270 as a confirmation of the reversal thesis quietly building up in the recent sessions. This structural break has more than a symbolic […]
AVAX is the native utility token of the Avalanche blockchain. The token is currently ranked 12th by market cap, with a total supply of 440,043,419 AVAX and a total trading volume of over $396,250,098 in the last 24 hours. Since its recent pullback at $36.15, AVAX has continued to move downward. Currently, the general cryptocurrency market is bearish. This has led to the price of AVAX dropping below the 100-day Simple Moving Average (SMA) and the price might continue to drop in the next couple of days. As of the time of writing, the price of AVAX was trading around $33.52 and about 0.22% down in the last 24 hours. Technical Indicators Point Toward A Sustained Downtrend For AVAX To figure out where the AVAX price might be headed next, the following indicators can be used to examine the chart. 4-Day MACD: A technical look at the MACD indicator from the 4-hour timeframe, the MACD histograms are trending below the zero line, and both the MACD line and the Signal line crossed each other while trending below the MACD zero line, indicating a continuous movement on the downside. This can be seen in the below image. 4-Day RSI: The formation of the Relative Strength Index (RSI) in the above image also suggests a downward continuation movement as the RSI signal line is seen to have moved above the 50% level and then dropped below it. This suggests that sellers are still very much active in the market therefore overpowering the strength of buyers. Alligator Indicator: A look at the alligator indicator from the 4-hour time frame shows that AVAX is trading below the alligator lines as the alligator lip and teeth have both successfully crossed above the alligator jaw. It can also be seen that the price tried to move above the alligator lines but failed to do so, suggesting that the price might continue to move in its downward direction. The Coin Could Form A New Low Conclusively, from the previous downward movement, AVAX has formed two resistance levels of $39.94 and $36.15 and a support level of $30.34. Currently, AVAX is moving toward this support level and if it breaks above this level, the price might drop even further to create a new low. On the contrary, if the price fails to break above this support, it will reverse and start an upward movement toward its previous resistance level of $36.15. Should AVAX manage to break above this resistance level, the price might move further to test the $39.94 resistance level. Featured image from Shutterstock, chart from Tradingview.com
The last price action in Shiba Inu (SHIB) displays a significant shift from a period of consolidation and calm fall into a strong rally. The price first moved sideways in low volatility mode, pointing towards indecision within the market and lowered momentum. Shiba Inu is currently trading at $0.00001578 with a 24h volume of $528.07 […]
The United States government is focusing on the regulation of cryptocurrencies, with the Securities and Exchange Commission (SEC) playing a key role in this initiative. Recently, the SEC has been actively involved in proposing and implementing regulations that aim to bring more clarity and oversight to the crypto space. As the digital asset market continues [...]
The post Insightful Indicators from US Government Actions Point to Future Crypto Regulation appeared first on Crypto Breaking News.
The Bitcoin Network Value to Transactions (NVT) Golden Cross indicator attained overheated values coinciding with the recent local top in the price. Bitcoin NVT Golden Cross Surged To 3.17 During Recent Peak An analyst in a CryptoQuant Quicktake post explained that the NVT Golden Cross may have served as an indicator of the recent top in cryptocurrency prices. The “NVT” refers to an on-chain metric that tracks the ratio between Bitcoin’s market cap and transaction volume (both in USD). This ratio is generally used to determine whether the asset’s price is fair or not. Related Reading: Bitcoin Short-Term Holders Capitulate: $5.2 Billion Sold At Loss When the indicator has a high value, the asset’s price (the market cap) is high compared to its utility (the transaction volume). Such a trend may suggest that the coin could be overvalued currently. On the other hand, the low metric could suggest the network isn’t valued fairly compared to its high ability to transact capital, and as such, its price may be due to an uplift. In the context of the current discussion, the NVT itself isn’t interesting, but rather, a modified version called the NVT Golden Cross is. This metric compares the short-term trend of the NVT (10-day moving average) against its long-term trend (30-day MA). Like the NVT, this variant is also used to estimate the fairness of the asset. Historically, values greater than 2.2 have been a signal that BTC is overheated, as the short-term trend is notably outpacing the long-term at these levels. Similarly, values under the -1.6 level may indicate that the cryptocurrency is undervalued; hence, its price may likely form a bottom and find a rebound soon. Now, here is a chart that shows the trend in the Bitcoin NVT Golden Cross over the last few years: The value of the metric seems to have been going up in recent days | Source: CryptoQuant As displayed in the above graph, the Bitcoin NVT Golden Cross rose to relatively high levels earlier. This growth happened as the asset’s price rallied towards the $71,000 level. The metric had touched the 3.17 mark in this surge, which suggests the coin may have become too overpriced. Indeed, the asset followed this by observing a sharp drawdown, which took it back under the $65,000 level. As the quant has marked in the chart, a similar pattern of the NVT Golden Cross hitting these high levels and resulting in a price correction was observed at different points over the last few years. Related Reading: Bitcoin Traders No Longer Extremely Greedy: Rebound Signal? Since the latest overheated signal, the indicator has cooled off alongside the Bitcoin price, although it hasn’t gone towards the negative side yet. BTC Price Bitcoin has recovered over the past day as its price has now climbed back to $67,800. Looks like the price of the asset has seen some uplift over the last 24 hours | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, CryptoQuant.com, chart from TradingView.com
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