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CATEGORY: moving average convergence divergence

BNB Breaks Out Of Consolidation Zone, Uptrend Persist
Author: Godspower Owie
United Kingdom
Source: NewsBTC
Jun 06, 2024 12:05

BNB Breaks Out Of Consolidation Zone, Uptrend Persist

Recently, BNB (BNB) broke out of the consolidation area, indicating a potential significant upward trend. The fact that the token has risen beyond the $700 mark suggests that the market is recovering strongly and that traders and investors are becoming more optimistic. BNB has increased noticeably by 12% in the last 24 hours, carrying on its strong trend from the previous week and month. This breakout has drawn notice, and some analysts anticipate substantial gains if the bullish trend continues. BNB’s price was up by 3.56% as of the time of writing, trading at approximately $710, with a market capitalization of over $104 billion and a 24-hour trading volume of over $4.2 billion. In the past day, there has been a 12.73% increase in market capitalization and a 79.6% increase in trading volume. Price And Indicators Formation On BNB 4-hour And 1-day Chart As of right now, BNB is trading above the 100-day Simple Moving Average (SMA) with good rising momentum in the 4-hours chart. This implies that the price is still positive and there is still a possibility for price growth. The 4-hour Moving Average Convergence Divergence (MACD) also signals that BNB might continue to move bullishly as the MACD histograms are trending above the MACD zero line. In addition, the MACD line and the MACD signal line are currently trending above the zero line with a good spread between them, suggesting that there is still room for BNB to move upward. In the daily time frame,  it can be observed that BNB made a successful break out above its consolidation zone on the previous day and moved on to break its previous all-time high of $692. At this point, the price of BNB is still showing good momentum to move higher. Additionally, the 1-day MACD also displays a bullish signal as the MACD Histograms are currently trending above the MACD zero line. Also, both the MACD line and the MACD signal line are trending above the zero line with a good space between them, which indicates that BNB’s price might still move upward. Significance Of The Breakout In conclusion, since prices have broken above the consolidation zone, BNB will definitely move to create higher highs and lows if the price continues to move upward. However, if it fails to move upward, it will start to descend in the direction of the upper base of the consolidation zone for a retest. If this upper base is unable to hold the price, it will continue to move downward to test the $509 support level and might even move further to test other support levels. Featured image from Binance, chart from Tradingview.com

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Notcoin (NOT) Maintains Bullish Momentum, What Next?
Author: Godspower Owie
United Kingdom
Source: NewsBTC
Jun 05, 2024 12:05

Notcoin (NOT) Maintains Bullish Momentum, What Next?

After a retracement from its previous, Notcoin (NOT) has been exhibiting strong bullish momentum that has drawn the interest of both traders and investors. This ongoing upward trend indicates a robust level of market confidence and increasing optimism over its prospects. Market analysts are keeping a careful eye on important indicators and trends as the cryptocurrency rises in order to predict how long this bullish period may remain and what possible heights it may reach. Using a few technical indicators, we will examine Notcoin’s price possibilities in this article focusing on the 1-hour and the 4-hour timeframe. Notcoin’s price was up by 20% as of the time of writing, trading at approximately $0.025, with a market capitalization of over $2.3 billion and a 24-hour trading volume of over $4.4 billion. In the past day, there has been a 16.33% increase in market capitalization and a 106.31% increase in trading volume. Indicators And A Technical Perspective On Notcoin Price Notcoin is currently trading above the 100-day Simple Moving Average (SMA) and remains actively positive in the 1-hour time frame. This suggests that the price is still bullish and that there is still room for price growth. The 1-hour Moving Average Convergence Divergence (MACD) also signals that Notcoin might move bullishly as the MACD histograms are trending above the MACD zero line. In addition, the MACD line and the MACD signal line have crossed each other and are currently trending above the zero line with a good spread between them, suggesting that the price of Notcoin might still move upward. In the 4-hour time frame, it can be observed that NOT, after making a pullback, is attempting another upward bullish rally as it has dropped a bullish candlestick in the last 4 hours. Additionally, the 4-hour MACD displays a bullish signal as the MACD line and the MACD signal line are still highly active above the zero line, and the MACD histograms attempt to rise higher above the zero line. This development suggests that Notcoin is poised for more growth. Future Prospects For The Meme Coin It is worth noting that Notcoin has managed to create a high of $0.029405 and lows of $0.018863, and $0.011381, which are significant milestones in evaluating its price next destination based on its past price action. If Notcoin continues to move upward to the resistance level of $0.029405 and breaks above it, it therefore means that it will move higher to create a new high. However, Notcoin’s price will start to descend in the direction of the $0.018863 support level if it is unable to break above this resistance level. The price may move much farther to test the $0.011381 level and possibly other levels on the chart if it breaks below this support level. Featured image from Binance, chart from Tradingview.com

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PEPE Shows Persistent Bullish Strength As Market Optimism Grows
Author: Godspower Owie
United Kingdom
Source: NewsBTC
Jun 04, 2024 12:05

PEPE Shows Persistent Bullish Strength As Market Optimism Grows

PEPE has been on a remarkable upward trajectory, showcasing significant bullish momentum that has caught the attention of traders and investors alike. This sustained uptrend suggests strong market confidence and growing optimism about the prospects of PEPE. As the cryptocurrency continues to climb, market analysts are closely monitoring key indicators and trends to gauge how long this bullish phase might last and what potential heights PEPE could reach. In this analysis, we will dive into PEPE’s price prospects with the help of some technical indicators. As of the time of writing, PEPE’s price was trading at around $0.00001531 and was up by 3.33% with a market capitalization of over $6.3 billion and a 24-hour trading volume of over $1.5 billion. Its market capitalization and trading volume are down by 3.51% and 26.3% respectively in the last 24 hours. Technical View Of PEPE Price With Indicators From the 4-hour time frame, the price of PEPE is still actively trading below the 100-day Simple Moving Average (SMA), which is a clear indication that it might be poised for a more bullish movement. The 4-hour Moving Average Convergence Divergence (MACD) also signals that PEPE might move bullishly as the MACD histograms show signs of moving above the MACD zero line. In addition, although the MACD line and the MACD signal line are trending below the zero line, the MACD signal line is seen attempting to cross above the MACD line, suggesting that the price of PEPE might still move upward. In the 1-day time frame,  it can be observed that PEPE, after making a pullback is showing signs of undergoing a rally as it is dropping a daily bullish candlestick. Although the 1-day MACD is giving a bearish signal as the MACD histograms have dropped below the MACD zero line and both the MACD line and the MACD signal line have crossed while still above the zero line, there is the possibility that the development might turn bullish again based on the price action in the 4-hour timeframe. Future Prospects For The Meme Coin Based on the previous price action of PEPE, it can be observed that a high of $0.00001731 and lows of $0.00001313, $0.00001152, and $0.00000888 have been created which are key points in determining its next destination. If PEPE continues to move upward to the resistance level of $0.0001731 and breaks above it, it therefore means that it will move higher to create a new high. However, if it fails to break above this resistance level, it will begin a downward move toward the $0.00001313 support level. Should the price break below this support level, it might move even further to test the $0.00001152 level and probably other levels on the chart. Featured image from iStock, chart from Tradingview.com

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Chainlink Holds Strong At $15.29 Support Is A New Breakout Imminent?
Author: Godspower Owie
United Kingdom
Source: NewsBTC
May 10, 2025 12:10

Chainlink Holds Strong At $15.29 Support Is A New Breakout Imminent?

Chainlink (LINK) continues to showcase resilience, holding firm within a well-established uptrend as the price consolidates near a critical support level at $15.29. This zone, which has previously acted as a launchpad for bullish momentum, is once again drawing attention as bulls defend it with determination. The current price action suggests that the market is taking a breather, potentially setting the stage for a fresh leg higher. With bullish sentiment gradually building and support holding steady, speculations are whether LINK can capitalize on this consolidation and ignite its next rally toward higher resistance zones. Why Chainlink Bulls Are Still In Control The current price action reveals that Chainlink has resumed its upward movement following a brief and healthy pullback. After testing the immediate support zone and holding firm above the $15.29 level, the bulls have stepped back in with renewed confidence. LINKs rebound suggests that the temporary pause in momentum was likely a consolidation phase rather than a full-fledged reversal, allowing the market to reset before continuing its ascent. Related Reading: Chainlink (LINK) Targets Rebound To $19 But Only If This Key Support Holds One of the standout bullish signals is LINKs recent break above the 100-day Simple Moving Average (SMA). This moving average often acts as a dynamic resistance in downtrends, and a successful close above it suggests a potential trend reversal or continuation of bullish momentum. Such a move typically garners the attention of technical traders, increasing the likelihood of follow-through buying pressure. Further confirmation comes from the MACD (Moving Average Convergence Divergence) indicator, which has now made a bullish crossover and climbed above the zero line. This momentum shift reflects a strengthening buying trend and hints that LINK could be gearing up for a broader breakout. If the current setup holds, LINK may soon challenge higher resistance zones, opening the door for a sustained rally. What Could Derail The Uptrend? While Chainlink shows promising signs of continuing its uptrend, the bullish momentum is still at risk. A failure to hold above the immediate support at $15.29 could invite increased selling pressure and signal a potential shift in sentiment. If bears push the price below this level, a deeper retracement toward the next major support zones is probable. Related Reading: Chainlink Shake-Up: Investors Pull $120 Million From Exchanges Additionally, overbought signals from momentum indicators such as the RSI might suggest exhaustion among buyers if they begin to flash warning signs. A bearish crossover or weakening in the MACD could further confirm waning strength. Traders should also be cautious of broader market volatility or negative macroeconomic developments, which can weigh heavily on sentiment even for technically strong assets like LINK. Keeping an eye on volume and price reaction at key levels will be critical to assess whether the uptrend remains intact or is at risk of faltering. Featured image from Pixabay, chart from Tradingview.com

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Polkadot (DOT) Prints Classic Bullish Falling Wedge Big Breakout Imminent
Author: Godspower Owie
United Kingdom
Source: NewsBTC
May 08, 2025 12:05

Polkadot (DOT) Prints Classic Bullish Falling Wedge Big Breakout Imminent

In an update on X, crypto analyst Jascrypto pointed out that Polkadot (DOT) is currently forming a textbook bullish falling wedge pattern on the daily chart. This technical setup is often associated with a potential trend reversal, signaling the end of a downtrend and the beginning of a bullish breakout. As DOT continues to consolidate within the narrowing bounds of the wedge, market participants are starting to take notice. The structure suggests that bearish momentum may be weakening, allowing buyers to step in. With volume expected to increase upon a breakout, this pattern could mark a pivotal shift for DOT and spark a strong upside move, potentially starting a new bullish phase. Why The Polkadot Falling Wedge Is Bullish Crypto analyst Jascrypto recently highlighted that Polkadot has completed a breakout from a multi-month falling wedge pattern. Falling wedges are typically viewed as reversal patterns, and DOTs successful breakout suggests that downward pressure may be easing after months of consolidation. This structural shift reflects growing optimism and signals that the asset could be preparing for a larger upward trend. Related Reading: Polkadot Price Caught In A 5-Year Channel Can It Finally Break Free? Jascrypto pointed out that DOT is currently testing the 100-day and 200-day Exponential Moving Averages (EMAs), key technical levels that often act as strong resistance in bearish conditions. He emphasized that a decisive daily close above these EMAs would validate the breakout and signal a shift in market sentiment. According to Jascrypto, if Polkadot maintains momentum and closes above these critical levels, it may pave the way for a rally toward the $5.5 to $6.0 range in the near term. This move would mark a significant recovery phase for DOT, attracting fresh bullish interest from investors. In an alternative scenario, Jascrypto noted that the worst-case outcome might see Polkadot dipping as low as $3.120 on higher timeframes. However, he added that such a move could set the stage for a much stronger rebound, propelling the price above the $7 mark once momentum returns. Momentum Indicators Lean Bullish Is DOT Ready To Run? Momentum indicators are beginning to align in favor of the bulls, offering promising signals that Polkadot may be gearing up for a meaningful move higher. The 4-hour Relative Strength Index (RSI) has rebounded from oversold territory, hovering near the midpoint around 50. This shift indicates that bearish momentum is fading, and buyers may be gradually regaining control. Related Reading: Polkadot (DOT) Nears Critical Zone: A Reversal Could Trigger 180% Surge Adding to the optimistic trend, the 4-hour Moving Average Convergence Divergence (MACD) has shown a bullish crossover, where the MACD line crosses above the signal line. A move that often marks the beginning of a new uptrend or a pause in prior downside pressure. Combined, the RSIs recovery and the MACDs bullish signal suggest that DOTs momentum is shifting favorably, setting the stage for a potential breakout continuation if price action remains strong. Featured image from Medium, chart from Tradingview.com

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Bitcoin Caught In Bearish Drift As It Slips Below Key Support Averages, Bears Taking Over?
Author: Godspower Owie
United Kingdom
Source: NewsBTC
May 06, 2025 12:05

Bitcoin Caught In Bearish Drift As It Slips Below Key Support Averages, Bears Taking Over?

According to a recent post on X by Shaco AI, Bitcoin (BTC) is showing a bit of stage fright as it hovers just below key short-term moving averages, signaling a potential loss of momentum. At the time of writing, BTC is trading at $94,383, beneath both the 25-hour Simple Moving Average (SMA) at $95,192 and the 50-hour SMA at $95,675. This positioning reflects a cautious stance among traders, with bulls unable to reclaim control and bears subtly tightening their grip. The dip below these moving averages paints a short-term bearish picture, as Shaco AI described it, “Mama Bear pulling Baby Bitcoin down.” This metaphor highlights the building pressure on Bitcoin as it attempts to break free from its current consolidation range. Without a convincing move above these SMAs, the market may remain hesitant, with the risk of further downside looming unless stronger bullish momentum emerges soon. RSI And MACD Paint A Cautious Picture In his effort to further support his analysis, Shaco AI pointed to momentum indicators that are beginning to flash cautionary signals. One of the key indicators, the Relative Strength Index (RSI), is currently resting at a rather subdued 38.78.  Related Reading: Analyst Identifies When Bitcoin Price Will Reach Cycle Top Heres The Timeline This level typically suggests that an asset may be nearing oversold territory, hinting that Bitcoin could be undervalued at the moment. However, instead of signaling a confident bounce, the RSI appears more hesitant, as if BTC is simply feeling shy at this bearish gathering, uncertain whether to retreat further or gather the courage to rebound.   Adding to the uncertainty, Shaco AI drew attention to the Moving Average Convergence Divergence (MACD), which currently stands at -432.37. While this negative reading implies that bearish momentum is present, the MACDs behavior hasnt been decisive. Its more of a quiet murmur than a clear call, whispering secrets, as Shaco AI aptly described it, about a potential shift in trend.  He also noted an interesting detail for the crowd: trading volume has been notably muted. With current volume at 527.17304, falling short of the average 593.655497, its as if the market is tiptoeing, trying not to disturb the calm. This subdued activity suggests that traders may be sitting on their hands, waiting for a clearer signal before making any bold moves. Structural Levels For Bitcoin To Watch Analyzing Bitcoins current structural setup, Shaco noted that key support lies at $93,514.1, a potential safety net if bearish momentum intensifies. On the upside, resistance is firmly positioned around $96,593, acting as a critical barrier should BTC attempt an unexpected upward breakout. Related Reading: CMT-Verified Analyst Reveals When To Buy Bitcoin As Heikin Ashi Candle Turns Bearish In conclusion, Shaco AI advised traders to stay alert as Bitcoin teeters at a critical juncture. Whether it continues to drift downward or stages a bold rebound from its support levels remains to be seen. Investors should keep a close eye on momentum shifts and volume spikes for early clues on its next act. Featured image from Unsplash, chart from Tradingview.com

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Toncoin (TON) Forms Double Top Pattern, Bearish Or Bullish?
Author: Godspower Owie
United Kingdom
Source: NewsBTC
Jun 01, 2024 12:05

Toncoin (TON) Forms Double Top Pattern, Bearish Or Bullish?

Toncoin serves as the native token of the TON ecosystem and has multiple use cases. The token like other native tokens such as Solana (SOL) and Ethereum (ETH) has been doing well, as it experienced a notable price rise, especially with the launch of Notcoin (NOT) recently.  Based on TON’s past price movements, the token has successfully formed a Double-Top chart pattern, which is typically followed by a price decline. With a 10% decrease in the past day’s trading volume to $152 million the price of TON is indicating a bearish trend. In the last 24 hours, TON was around -0.39% down with a market capitalization of about $15,52 billion and the price was trading around $6.44. TON, at the moment, is trading above the 1-day Simple Moving Average (SMA), but in the 4-hour time frame, it is trading below the range. Technical Indicators Point Toward Sustained Downtrend For TON From the 4-hour time frame, the price of TON is trading below the 100-day simple moving average, which is a clear sign that it might be poised for a bearish movement. The 4-hour Moving Average Convergence Divergence (MACD) also signals that TON might move bearishly as the MACD histograms are already trending below the MACD zero line. In addition, both the MACD signal line and the MACD line have crossed and are heading towards the MACD zero line of which there is a possibility they might move below it. On the 1-day time frame,  it can also be observed that the price TON is showing signs of going bearish as it is attempting to move toward the 100-day SMA. Given that the MACD histograms are trending below the MACD zero line, the 1-day Moving Average Convergence Divergence suggests a possible bearish trend ahead. Both the MACD line and the MACD signal line have crossed and are moving towards the direction of the zero line, as seen in the 4-hour timeframe. Crucial Points To Determine Next Move From TON’s previous price action, it can be observed that it has managed to create some highs and lows, which are key points in determining its next destination.  Currently, there is one major resistance level of $7.677 and two major support levels of $4.688 and $3.34. If the price TON continues to move downward and breaks below the support level at the $4.688 mark, it might move even further to test the $3.34 support level. However, if it fails to break below the $4.688 level, it will continue in its upward trend toward the $7.677 resistance level. Should the price break above this resistance level, it might move even further to create a new high. Featured image from Pinterest, chart from Tradingview.com

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Chainlink In Rally Mode: Rising Channel Formation Signals Continued Climb
Author: Godspower Owie
United Kingdom
Source: NewsBTC
May 21, 2025 12:05

Chainlink In Rally Mode: Rising Channel Formation Signals Continued Climb

Chainlink (LINK) is showing renewed strength as its price moves higher within a well-defined rising channel pattern. After a period of consolidation, LINK has entered a rally mode, forming the channel, a classic signal of sustained upward movement. This technical setup suggests that the bulls are firmly in control, and unless a major shift in sentiment occurs, the uptrend could continue in the short to mid-term. Chainlink Breaks Above 200 MA: Bullish Momentum Builds On M30 In an X post, crypto analyst Thomas Anderson highlighted that Chainlink is exhibiting notable bullish momentum on the 30-minute (M30) timeframe. According to Anderson, LINK has successfully broken above the 200-day moving average (marked in red on the chart), a significant technical milestone that often signals a shift in market sentiment. At the time of his post, LINK was trading around $15.560 and was actively forming an ascending channel,  a bullish price pattern characterized by consistently higher lows and higher highs. Related Reading: Chainlink Holds Strong At $15.29 Support Is A New Breakout Imminent? Anderson noted that the current price structure reflects sustained buying interest, with the Relative Strength Index (RSI) sitting comfortably at 64.23 just below overbought territory, indicating healthy momentum. Additionally, the MACD (Moving Average Convergence Divergence) indicator is in positive territory, further reinforcing the strength of the ongoing uptrend. However, he cautioned traders to remain vigilant as the price approaches the upper boundary of the ascending channel. This zone could act as a short-term resistance level, triggering a pullback or consolidation phase before further upside. Overall, the outlook for Chainlink on the M30 chart remains bullish. LINK Flips Bearish Structure On Daily Timeframe A crypto analyst @Whales_Crypto_Trading shared a bullish outlook on LINK, noting that the asset is currently breaking out of a descending channel on the daily timeframe. This long-standing pattern had previously kept LINK locked in a downward trajectory, but the recent price action suggests that momentum is shifting in favor of the bulls. A breakout from this structure is typically seen as a strong technical signal, indicating the potential for a significant trend reversal. Related Reading: Chainlink Flashes Daily Buy Signal Breakout Next? According to the analyst, a complete descending channel pattern suggests that Chainlink is no longer confined in a bearish trend and may now be positioned for a substantial upside move. With market sentiment showing early signs of turning positive, the breakout could mark the beginning of a new bullish phase for LINK, supported by improved technical indicators and increasing volume. He concluded by stating that this breakout sets the stage for a massive rally, with $28 identified as the next major target. Reaching this level would represent a strong recovery and a clear signal that bulls have regained control.  Featured image from Freepik, chart from Tradingview.com

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Solana Flips Bullish: Price Climbs Above Ichimoku Cloud With Strong Momentum
Author: Godspower Owie
United Kingdom
Source: NewsBTC
May 15, 2025 12:05

Solana Flips Bullish: Price Climbs Above Ichimoku Cloud With Strong Momentum

Solana (SOL) has officially broken above the Ichimoku Cloud on the daily chart, a key technical signal that often marks the beginning of a bullish trend reversal. After weeks of sideways movement and uncertainty, this decisive breakout suggests that momentum is finally shifting in favor of the bulls. While confirmation from volume and follow-through price action is still needed, the technical outlook is becoming increasingly optimistic. Solana Ichimoku Breakout And Momentum Check Solana’s breakout above the Ichimoku Cloud is more than just a technical checkpoint; it marks a critical shift in its market structure and trader sentiment. This breakout represents a move from uncertainty to confidence, as buyers begin to gain the upper hand after a period of consolidation and hesitation. Related Reading: Solana At A Crossroads: Consolidation Before The Next Major Surge? So far, momentum indicators are leaning bullish, providing early signs that Solana may be entering a new upward phase. One of the most notable signals comes from the Moving Average Convergence Divergence (MACD), which has recently made a positive crossover. Not only has the MACD line crossed above the signal line, but the two lines have now moved above the zero line. This double confirmation strengthens the signal significantly. When the MACD and signal lines rise above zero, it typically marks the transition from bearish to bullish territory, indicating that momentum is not just shifting but accelerating in favor of the bulls. However, a clear uptick in volume is essential for SOL to sustain and build on this breakout. Volume is what turns a breakout into a trend, and without it, upward momentum can quickly stall. If volume starts to pick up alongside continued price strength, it could ignite the next leg up, potentially pushing Solana toward key resistance levels. Key Levels To Watch Now As Solana begins to show signs of a bullish reversal, identifying and monitoring key price levels becomes essential for both short-term and long-term investors. These levels act as decision points where price action is likely to react, facing resistance or finding support. Related Reading: Solana Network Activity Grows As 11M Wallets Now Hold 0.1 SOL Or More Analyst On the upside, it can be observed that the immediate resistance of $164 has been cleared, with SOL now attempting a move toward the $211 resistance level. A clean breakout above this area, especially backed by strong volume, would open the door for a rally toward the $240 mark. Beyond that, $260 remains a major resistance to watch, marking a key round number and prior rejection area. On the downside, $164 now serves as the nearest support following the recent breakout above the Ichimoku Cloud. Holding above this level is crucial to maintain the current bullish structure. A breakdown below it could drag Solana back to the $148$118 support range, where buyers previously stepped in. Featured image from Adobe Stock, chart from Tradingview.com

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Toncoin Takes A Hit With 12% Correction After Failing To Break $4.34, More Pain?
Author: Godspower Owie
United Kingdom
Source: NewsBTC
Apr 05, 2025 12:05

Toncoin Takes A Hit With 12% Correction After Failing To Break $4.34, More Pain?

Toncoin rally has hit a roadblock, with the price slipping 12% after failing to breach the key $4.34 resistance level. The strong upward momentum that previously fueled TONs gains lost steam as sellers aggressively defended this price zone, triggering a wave of profit-taking and increased bearish pressure.  With momentum cooling off, market participants are now watching key support levels to see if bulls can regain control. A decisive hold above crucial zones could set the stage for another breakout attempt, while continued weakness might expose Toncoin to further downside. 12% Correction: Understanding The Price Drop Toncoins recent 12% correction following its failure to break through the $4.34 resistance level has raised concerns among traders and investors. To understand this price drop, its essential to examine the factors at play. A correction of this magnitude typically reflects a shift in market sentiment, often driven by profit-taking, a rejection at key resistance levels, or an overall weakening of bullish momentum. Related Reading: Toncoin (TON) Investors Sitting On 54% Profit Despite Price Plunge After a failed breakout attempt at $4.34, the market faced a pullback, where the price retreated as sellers gained control. This is a natural response in the market when an asset struggles to sustain momentum after reaching a significant barrier. The 12% drop suggests that some traders may have begun to lock in profits after the recent rally, while others opted to exit positions as the price failed to move higher.  Additionally, broader market conditions and technical indicators have likely contributed to Toncoins recent 12% correction. In tandem with this, the Moving Average Convergence Divergence (MACD) indicator has shifted into a bearish crossover. The MACD’s bearish signal, coupled with the fading market sentiment, suggests that bullish pressure is weakening, which likely fueled the selling activity. Such a correction is not unusual in volatile markets like cryptocurrency and is often viewed as a natural market reset. However, it signals a loss of immediate bullish momentum, with the price now testing the $2.36 support level. This level should be closely monitored as it will determine whether Toncoin can stabilize or if a further downside is likely. Whats Next For Toncoin? Potential Scenarios Post-Correction After Toncoins 12% correction, the key question is what lies ahead for the cryptocurrency. The price has faced a strong rejection at the $4.34 resistance level, and now, as it approaches critical support levels, several scenarios could unfold. Related Reading: Key Metrics Indicate Toncoin Accumulation Continues Despite Price Struggle If Toncoin holds its ground before or at the $2.36 support level, it could signal a potential rebound, with the price stabilizing and setting up for another push toward the $4.34 resistance.  On the other hand, if the $2.36 support fails to hold, Toncoin could face a further downside, resulting in the creation of new lows. In this scenario, the market sentiment would need to shift, and Toncoin would have to demonstrate resilience to regain upward momentum. Featured image from Adobe Stock, chart from Tradingview.com

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PEPE Rising Trendline Holds Firm: A Reliable Launchpad For Price Rally
Author: Godspower Owie
United Kingdom
Source: NewsBTC
Apr 29, 2025 12:05

PEPE Rising Trendline Holds Firm: A Reliable Launchpad For Price Rally

UniChartz recently pointed out on X that PEPE is respecting a rising trendline with remarkable consistency, highlighting strong underlying bullish strength. Multiple clean touches along the trendline show that buyers are firmly in control, stepping in at key moments to defend support levels. This pattern of repeated validation is a powerful technical signal, often seen in sustainable uptrends. The firm hold above the trendline suggests that market sentiment remains positive, with bulls maintaining momentum even during minor pullbacks. UniChartz emphasized that as long as PEPE continues to honor this rising support, the potential for further upside rises. A solid foundation like this often acts as a springboard for the next major rally. Key Support Holds Strong: Why This Trendline Matters According to UniChartz, PEPE’s price recently staged another strong rebound off its rising trendline, once again confirming it as a critical area of support. This bounce occurred just above a major horizontal support zone, reinforcing the idea that buyers are stepping in aggressively at key levels to defend the uptrend. Related Reading: PEPE Price To Bounce 796% To New All-Time Highs In 2025? Heres What The Chart Says Adding to the bullish setup, UniChartz noted that the MACD indicator is beginning to turn positive, signaling growing bullish momentum. The strengthening MACD crossover typically precedes larger upward moves, hinting that PEPE could be gearing up for another leg-up. At the moment, PEPE is closing in on a crucial test of the 100 EMA resistance. A clean and decisive breakout above the 100 EMA could serve as a major catalyst to the next key resistance area overhead. If momentum continues to build, PEPE might soon find itself charging into higher territory. Where PEPE Could Rally Next PEPEs current price action is setting the stage for a potential rally as it continues to respect key support levels, particularly its rising trendline. The immediate focus is on overcoming the 100 EMA, which has proven to be a major resistance in previous attempts. A successful breakout above this level could trigger a sharp upward move, pushing PEPE toward the $0.00001152 zone, a critical price point that has historically held as a major hurdle. Related Reading: PEPE Bulls Regain Control As Price Stays Above Moving Average If the bulls maintain their momentum and clear this initial resistance, the next key targets are the $0.00001313 and $0.00001731 levels. These zones, derived from past price action and Fibonacci retracements, represent significant obstacles that PEPE must overcome. Given the strengthening bullish indicators, such as the MACD and ongoing support from the rising trendline, PEPE appears well-positioned for a breakout. Surpassing these resistance levels would mark a significant shift, paving the way for more gains in the near term and confirming the continuation of the bullish trend. Featured image from Adobe Stock, chart from Tradingview.com

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Toncoin Eyes Notable Uptrend After Breaking Above This Key Chart Pattern
Author: Godspower Owie
United Kingdom
Source: NewsBTC
Apr 11, 2025 12:05

Toncoin Eyes Notable Uptrend After Breaking Above This Key Chart Pattern

Toncoin (TON) is starting to make waves again, showing signs of renewed strength after successfully breaking out of a long-standing descending channel on the daily chart. This breakout marks a pivotal moment for the token, potentially signaling the end of the recent downtrend and hinting at the early stages of a fresh uptrend. As the crypto market shows signs of renewed vigor, Toncoin appears to be positioning itself as one of the standout performers of this emerging cycle. Whether this breakout marks the beginning of a sustained uptrend or faces temporary headwinds will depend on both technical follow-through and broader market sentiment. A Potential Uptrend In The Making According to Profit Demon in a recent post on X, Toncoin is demonstrating significant strength by staying above the descending channel on its daily chart. This technical formation is crucial as it signals a shift in market dynamics after a period of weakness and decline. Related Reading: Toncoin Takes A Hit With 12% Correction After Failing To Break $4.34, More Pain? Profit Demon noted that TON had previously faced a sharp correction. However, the latest price action indicates a recovery, with Toncoin finding solid support at a key level. This level now serves as a critical foundation, offering the potential for a new upward move. He further emphasized that if the bullish momentum continues to grow, TON could target several key resistance levels. With the current market sentiment favoring a recovery, Toncoins price may rise toward the $4.10 level. A successful breakout above this mark would solidify the bullish trend, propelling it to the $4.90 and $5.60 marks. Can Toncoin Sustain Current Trends and Trigger A Rally? For TON to sustain its rally, the Relative Strength Index (RSI) plays a key role. The RSI should stay within the optimal range of 40 to 70, avoiding overbought conditions above 70. If the RSI remains above 50 and outside overbought territory, Toncoin will have room for further appreciation. A breakout above key resistance levels while keeping the RSI in this range would strengthen the bullish case. Related Reading: Is Toncoin Set for a Comeback? Key Market Signals Point to a Possible Rebound The Moving Average Convergence Divergence (MACD) is another critical indicator to monitor. Currently, the MACD has shown signs of bullish divergence, suggesting that momentum is shifting in favor of the bulls. For the rally to continue, the MACD line should remain above the signal line, confirming that buying pressure outweighs selling pressure.  Lastly, volume analysis is essential in confirming the strength of the price movement. A rally supported by increasing volume signals that the trend is backed by real demand and a temporary spike. To sustain an upward movement, trading volume must rise as TON breaks through resistance levels. Higher volume indicates genuine interest from traders, which strengthens the trend, while lower volume may suggest a lack of conviction, limiting the rally’s longevity. Featured image from Medium, chart from Tradingview.com

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Bitcoin Stalls: Weak Momentum Puts $85,211 Recovery In Doubt
Author: Godspower Owie
United Kingdom
Source: NewsBTC
Mar 09, 2025 12:05

Bitcoin Stalls: Weak Momentum Puts $85,211 Recovery In Doubt

Bitcoin is making an effort to stage a comeback after dipping to $85,211, but a lack of strong momentum is casting doubt on the recovery. While buyers are attempting to regain control, technical indicators suggest that bullish strength remains fragile, raising concerns about whether BTC can sustain its rebound or face another pullback. With key resistance levels ahead and market sentiment still uncertain, Bitcoins next move remains unpredictable. If buyers fail to build enough momentum, BTC could struggle to push higher, leaving it vulnerable to renewed selling pressure.  Bitcoin Tries To Bounce Back BTCs current price action indicates that bulls are making an effort to stage a rebound from the $85,211 support level after a sharp decline. This attempt follows a period of strong bearish pressure, which intensified when Bitcoin faced heavy resistance at $93,257 and failed to move upward.   Related Reading: Bitcoin Price Attempts a ComebackIs a Recovery Rally on the Horizon? Despite some signs of stabilization, technical indicators suggest that bullish momentum remains weak. The lack of strong buying pressure raises concerns about whether BTC can maintain its current attempt at a rebound or if another downturn is imminent. Additionally, the price remains below the 100-day Simple Moving Average (SMA), signaling that bears still dominate the market. Furthermore, the MACD line and the signal line are edging lower, hinting at a possible decline in bullish momentum. If both lines continue downward and cross into negative territory, it could signal a shift in trend favoring the bears. This weakening performance suggests that buying pressure is not strong enough to sustain a meaningful recovery, increasing the risk of further downside.  A confirmed bearish crossover might reinforce selling dominance, making it difficult for BTC to regain an uptrend. For the bulls to regain control, a surge in buying activity is needed to push the MACD indicators back into a positive trend. Traders should watch key support and resistance levels closely for confirmation of the next trend direction Potential Scenarios: Rebound Or Another Leg Down? If bulls successfully defend the $85,211 support level, Bitcoin could stage a relief rally, driving prices toward the immediate resistance at $93,257. A decisive break above this critical level could open the door for a stronger bullish push, propelling BTC toward $100,000. Such a move would restore market confidence and attract more buyers, increasing the likelihood of continued upside expansion. Related Reading: Bitcoin Reclaims $90K But This Indicator Signals Possible Consolidation Phase However, once Bitcoin fails to gain momentum, a drop below $85,211 may accelerate losses. In this case, BTC might test lower support levels, possibly around $73,919 or even $65,082, before finding stability. Featured image from Unsplash, chart from Tradingview.com

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Ethereum Price Confirms Breakout From Ascending Triangle, Target Set At $7,800
Author: Scott Matherson
United Kingdom
Source: NewsBTC
Apr 01, 2025 12:05

Ethereum Price Confirms Breakout From Ascending Triangle, Target Set At $7,800

The Ethereum price has finally broken out of a months-long consolidation pattern, signaling the possible start of a significant bullish move. The recent breakout of an Ascending Triangle formation suggests that ETH is set for more gains, with a crypto analyst suggesting a price target of $7,800 in the coming months. Ethereum Price Targets $7,700 ATH The Ethereum price is believed to be targeting a new all-time high of $7,800 after its recent breakout from an Ascending Triangle. For months now, the cryptocurrency has been trading within this classic bullish chart pattern, where prices make higher lows while facing strong resistance at a fixed level. Related Reading: Ethereum Is Not Dead: Broadening Wedge Suggests Another Leg-Up Is Coming This consolidation pattern has been active since late 2024, establishing strong resistance at $4,000. TradingView analyst Sohaibfx has predicted that if Ethereum can surpass this resistance level, it would confirm a bullish trend, leading to a strong upward continuation in its price.  Looking at the analysts price chart, Ethereum spent several months navigating between $2,000 and $4,000 in Q1 2025. This region represented an accumulation phase where buyers had quietly built their positions in anticipation of a potential rally.  A descending channel marked in orange in the price chart also shows that Ethereum had experienced a significant pullback mid-to-late 2024 before breaking out. This was likely the final shakeout before it regained its bullish momentum.  According to Sohaibfx, a measured move of the Ascending Triangle suggests that Ethereum is poised for an explosive 333% surge to $7,800. This bullish target is calculated by determining the height of the triangle, which is the difference between its base at $2,000 and resistance level at $4,000.  When the price breaks above the resistance, the common method for estimating the possible next move is to add the triangles height to the breakout point, which gives a technical target of $6,000. However, based on past price behaviour and strong buying momentum, the Ethereum price could push even higher, with $7,800 being a key psychological level.  Support Levels And Momentum Indicators To Watch In his price analysis, Sohaibfx has pinpointed the $4,000 and $3,000 price levels as support levels for Ethereum. This support should act as a safety net, where buyers are likely to step in to prevent further decline after Ethereum reaches its projected $7,800 target.  Related Reading: Ethereum Price Maintains Movement Inside Ascending Triangle, Is Another Crash Coming? Moving forward, the analyst highlights key momentum indicators that should be monitored. While the analysts chart does not specify indicators like Moving Average Convergence Divergence (MACD) or Relative Strength Index (RSI), Ethereums sharp upward move suggests that strong momentum will be a major contributor to its rise to a new ATH. Sohaibfx has advised traders to watch out for RSI levels above 70, as overbought conditions could signal a potential pullback while Ethereum approaches higher levels. Featured image from Adobe Stock, chart from Tradingview.com

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Ethereum Bulls Disappointed As Recovery Attempt Fails At $2,160 Resistance
Author: Godspower Owie
United Kingdom
Source: NewsBTC
Mar 30, 2025 12:05

Ethereum Bulls Disappointed As Recovery Attempt Fails At $2,160 Resistance

Ethereums attempt to regain bullish momentum has hit a roadblock, as the price failed to break through the crucial $2,160 resistance level. After showing signs of recovery, ETH faced strong selling pressure at this key level, preventing a sustained breakout and disappointing bullish traders who were hoping for further upside. Its inability to push past this resistance suggests that bears are still in control, keeping Ethereums price under pressure. With the momentum fading and the market sentiment turning cautious, traders are now closely watching key support zones to determine the next move. Bearish Pressure Mounts: Whats Next For Ethereum? Ethereum is facing increasing downside pressure as its latest recovery attempt was rejected at the $2,160 resistance level. The failed breakout has reinforced bearish sentiment, with key technical indicators signaling weakness. If buyers fail to step in, ETH could be at risk of deeper declines in the near term. Related Reading: Ethereum Price Eyes Major Resistance At $2,100 As Analyst Reveals Bullish Price Range One of the major warning signs is weak volume during the recovery attempt. A strong breakout typically requires significant buying interest, but Ethereums rally lacked momentum, making it easier for sellers to regain control. This lack of conviction from bulls suggests that the upside move was not sustainable, allowing bears to push prices lower. Additionally, the Relative Strength Index (RSI) has broken down, moving below key thresholds that indicate weakening bullish strength. The current declining RSI shows that buying pressure is fading, making it difficult for Ethereum to build upward momentum. If the RSI continues trending downward, it could further confirm a prolonged bearish phase. The  Moving Average Convergence Divergence (MACD) has also turned negative, with a breakdown below the signal line and a widening gap between the MACD and its moving average. This crossover indicates that bearish momentum is accelerating, reducing the chances of an immediate recovery. When combined with other bearish signals, the MACD breakdown further supports the case for a continued downside. Looking ahead, ETH may retest key support zones. However, a strong bounce from lower levels could offer bulls another chance to regain lost ground. For now, the charts suggest that Ethereum remains vulnerable to further declines. Support Levels To Watch: Can Bulls Prevent Further Decline? With attention now turning to key support levels, the first major support to watch is around $1,523, a level that previously acted as a short-term demand zone. If Ethereum holds above this area, it might provide bulls with a foundation for another rebound attempt. However, a break below this level could signal growing bearish dominance, increasing the risk of deeper losses. Related Reading: Ethereum Rally Incoming? Analyst Predicts Breakout Beyond $2,100 Below $1,523, the next key support lies at $902, aligning with previous price reactions and acting as a psychological level for traders. A failure to hold here may accelerate selling pressure, pushing ETH toward other support below. Featured image from iStock, chart from Tradingview.com

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SUI Price Nears $2.82 Resistance Is A Breakout Imminent?
Author: Godspower Owie
United Kingdom
Source: NewsBTC
Mar 28, 2025 12:10

SUI Price Nears $2.82 Resistance Is A Breakout Imminent?

SUI is making another attempt to break past the crucial $2.82 resistance, a level that has repeatedly challenged bullish momentum. After a steady climb, the price now stands at a decisive pointwill buyers have enough strength to push through, or will sellers step in to defend this barrier once again? Recent price action suggests that positive sentiment is gaining traction, with increasing trading volumes and strong support levels forming beneath. However, past attempts to breach $2.82 have resulted in pullbacks, making this level a significant test for the market. A confirmed breakout could trigger a fresh rally to higher targets, while failure to overcome this hurdle may lead to renewed selling pressure. Chart Patterns And Technical Indicators: Signs Of A Breakout? SUI price action is showing promising signs of an impending breakout as it continues to test the critical $2.82 resistance level.  Looking closer at the chart reveals the formation of bullish ascending candlesticks, a pattern characterized by higher lows and a steady resistance ceiling. This structure suggests that buyers are building momentum, increasing the likelihood of an upward breakout. Related Reading: SUI Poised For Price Rally? Ascending Channel Suggests Move Toward $2.50 Technical indicators further support this outlook. The Relative Strength Index (RSI) has climbed above 50, while the Moving Average Convergence Divergence (MACD) has shown a bullish crossover. Additionally, trading volume is rising, a key factor often preceding a breakout move. The price has also broken above the bearish trendline, signaling a potential shift in market sentiment. This breakout suggests that selling pressure is weakening, allowing buyers to regain control. A successful breakout from a bearish trendline usually indicates the end of a downtrend and the beginning of a possible upward movement. If SUI surpasses the critical $2.82 resistance level with a strong trading volume, it could ignite a significant rally, pushing the price toward $3.50 and beyond. Breaking above this level would indicate that buyers have gained control, invalidating previous resistance and setting the stage for further upside momentum.  Rejection And Possible Pullback Levels For SUI While SUIs bullish strength is building, the $2.82 resistance remains a formidable barrier, and failure to break above it might lead to a downside move. If buyers fail to sustain momentum, sellers may step in, triggering a rejection that could send the price back toward key support levels. Related Reading: SUI Bearish Grip Tightens As Price Eyes $2.8 Retest Amid Market Pressure The first critical support to watch lies around $2.36, a level where buyers previously defended against deeper declines. If selling pressure intensifies, SUI could drop toward $1.59. A break below this level may expose the price to deeper corrections, with $1.42 acting as a crucial defense zone for bulls. Featured image from YouTube, chart from Tradingview.com

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Shiba Inu Bears Roar: Will SHIB Hit $0.00001272 Amid Market Sell-Off?
Author: Godspower Owie
United Kingdom
Source: NewsBTC
Mar 01, 2025 12:05

Shiba Inu Bears Roar: Will SHIB Hit $0.00001272 Amid Market Sell-Off?

Shiba Inu is under mounting pressure, bringing the key $0.00001272 support level into focus. After multiple failed attempts to reclaim higher levels, sellers have tightened their grip, pushing SHIB toward a potential breakdown.  The declining buying interest and growing bearish sentiment suggest that a decisive move below this support could open the door for a deeper correction, reinforcing a more bearish outlook for the meme coin. If bulls fail to step in and defend this critical zone, SHIB could see increased volatility, with lower support levels coming into play.  On the other hand, a strong rebound from this area may signal a potential shift in momentum, giving buyers a chance to regain control. As uncertainty looms, traders closely watch whether SHIB can hold firm or if the bears will push for a downside in the coming sessions. SHIB Price Dips Further, Is A Breakdown Imminent? After a steady upward move, Shiba Inu encountered strong resistance, halting its bullish performance and triggering a renewed wave of selling pressure. This rejection has intensified the bearish sentiment, driving SHIBs price downward toward the critical $0.00001272 support level.  Related Reading: Shiba Inu Grapples With Heavy Bearish Forces: Will Support Levels Hold? SHIB’s inability to sustain gains above key resistance suggests that sellers remain in control, further reinforced by SHIBs continued trade below the 100-day Simple Moving Average (SMA). With the price struggling to regain strength, the risk of a deeper decline looms, as a confirmed breakdown below this support might accelerate losses and push SHIB into a more extended downtrend. The current fresh decline in SHIBs price is being bolstered by the MACD indicator, which signals growing bearish momentum. The MACD line is trending below the signal line, a classic sign that sellers are in control and that downward pressure is increasing. Additionally, the histogram is expanding in the negative zone, confirming the dominance of a bearish sentiment. If this trend persists, combined with SHIBs ongoing price action below the 100-day SMA, it could trigger a breakdown beneath the critical $0.00001272 support level.  Potential Rebound Levels For Shiba Inu Shiba Inu is currently testing key support zones that could serve as potential rebound levels. The first major level to watch is $0.00001272, a critical support zone where buyers may attempt to step in and defend against more losses. Should SHIB hold above this level, it would cause a short-term rebound, driving the price toward higher resistance areas. Related Reading: Shiba Inu Price To $0.000045? Here Are The Major Support And Resistances To Watch Out For However, if selling pressure persists and SHIB closes below $0.00001272, the next key support to monitor is $0.00000847. This level represents a stronger demand zone, where a more significant recovery could take place as buyers regain control.  A successful bounce from this area indicates a shift in momentum, providing SHIB the opportunity to recover lost ground. For a sustained bullish reversal, SHIB needs to establish strong support at these levels and reclaim key moving averages to regain investor confidence. Featured image from Adobe Stock, chart from Tradingview.com

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Solana Bulls Push For A Price Recovery Amid Market Volatility
Author: Godspower Owie
United Kingdom
Source: NewsBTC
Feb 28, 2025 12:05

Solana Bulls Push For A Price Recovery Amid Market Volatility

Solana is showing renewed strength, signaling a potential turnaround after holding above $137 decisively. Buyers are stepping in at key support levels, pushing the price higher and challenging major resistance zones. This shift has sparked optimism that SOL can sustain its upward push and trigger a full recovery. Despite recent struggles, Solanas price action suggests that the bulls are not backing down. However, a true breakout will require clearing critical resistance levels that have previously capped gains. Solana could see a significant rally unfold if buyers maintain control and push past these barriers. On the other hand, failure to sustain the momentum may lead to another pullback, keeping bearish forces in play. Solana Price Eyes Fresh Uptick After failing to break below the $137 support level, SOLs price has regained bullish momentum, eyeing a possible recovery. Buyers have stepped in to defend this key zone, driving the price upward as it targets the $164 resistance level. The renewed strength also brings the 100-day Simple Moving Average (SMA) into focus, a critical barrier that could determine whether SOL extends its rally or faces another rejection.  Related Reading: Solana (SOL) Inches Toward $200Breakout Confirmation Needed A successful breakout above both levels might confirm a stronger recovery, triggering a rally toward the $211 resistance zone. Such a move would indicate an uptrend, attracting more buyers and reinforcing confidence in Solanas performance.  Breaking past this key resistance would signal a shift in short-term sentiment and a broader change in the cryptocurrencys market structure. If sustained, this renewed strength will further solidify SOLs bullish outlook and position it for continued upside in the coming sessions. Also, the Moving Average Convergence Divergence (MACD) indicator is signaling a potential shift in momentum. The MACD line is approaching a crossover above the signal line, a classic indication of improving buying pressure. Additionally, the histogram shows a gradual increase in positive movements, suggesting that bullish forces are gaining traction. Potential Bearish Outcome: Is The Recovery at Risk? SOL’s bulls’  and the MACD’s failure to sustain its bullish crossover or start to weaken may lead to another period of consolidation or a pullback. Furthermore, a decline in trading volume alongside weakening indicators further confirms a slowdown, increasing the risk of another bearish turn. Related Reading: Solana Could Target $220 If It Holds Current Levels Analyst Expects Short-Term Bullish Momentum Should this scenario unfold, SOLs price eye another drop below the 137 mark, possibly extending the current bearish trend toward the $118 support area. While this could signal further downside, the $118 zone might also act as a key level of stability, creating an opportunity for buyers to step in and fuel a recovery. Featured image from Adobe Stock, chart from Tradingview.com

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SUI Uptick Sparks Hope, But Is This Fleeting Recovery?
Author: Godspower Owie
United Kingdom
Source: NewsBTC
Feb 27, 2025 12:10

SUI Uptick Sparks Hope, But Is This Fleeting Recovery?

Sui (SUI) is showing signs of a potential rebound as its price climbs above the $2.80 mark, sparking optimism among traders. After experiencing a period of downside pressure, the cryptocurrency is attempting to reclaim lost ground, suggesting that bullish momentum may be building. This recovery comes at a critical juncture as maintaining support above this level could pave the way for further upside movement.  The rally has drawn attention to whether SUI is gearing up for a more sustained recovery or if this surge is merely a short-lived reaction before another downward move. Despite the optimism, the broader market remains highly volatile, and SUI still faces key resistance levels that might determine the strength of this uptrend. SUI Price Attempts Recovery SUIs price faced rejection after attempting to push higher, signaling possible weakness in the current recovery attempt. After climbing to the 50% Fibonacci retracement level at $3.079, the cryptocurrency struggled to sustain its upward momentum, encountering resistance that prevented further gains.  Related Reading: SUI Bearish Grip Tightens As Price Eyes $2.8 Retest Amid Market Pressure This rejection has triggered a fresh decline, indicating that sellers are defending key levels. As a result, the asset has started to lose traction, with bearish pressure mounting again. The decline could accelerate, leading to a deeper retracement If the price fails to find support at nearby levels. Furthermore, SUI is still struggling to gain bullish momentum as it trades below the 100-day Simple Moving Average (SMA) and remains under pressure from a key bearish trendline. Typically, this indicates that sellers are still in control, preventing a breakout toward higher levels. A decisive move above these resistance points could signal a trend reversal, but failure to do so may result in more downside pressure. Technical Indicators: A Mixed Picture From a technical perspective, the recent recovery above $2.8 is a promising development. SUIs Moving Average Convergence Divergence (MACD) shows early signs of a bullish crossover, which could signal upside potential if the momentum continues. Related Reading: SUI Skyrockets: Bullish Momentum Drives Push Toward $6 However, challenges remain with the $3.5 level cited as a significant resistance zone, and a failure to break through hints at renewed selling pressure. Additionally, trading volumes are improving, but are still below their peak levels. In conclusion, SUI must overcome two major hurdles to confirm a meaningful recovery: the 100-day SMA and the bearish trend line. A break above these levels, accompanied by strong volume, might open the door to higher price targets, including $3.0 and beyond. On the other hand, a failure to hold above $2.8 sparks a retest to lower support levels, reigniting the downtrend. Featured image from YouTube, chart from Tradingview.com

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Ethereum Price Recovery: Analyst Predicts Blow Off Top To $3,300 In One Week, Heres Why
Author: Scott Matherson
United Kingdom
Source: NewsBTC
Feb 18, 2025 12:05

Ethereum Price Recovery: Analyst Predicts Blow Off Top To $3,300 In One Week, Heres Why

The Ethereum price is showing strong signs of a potential breakout, as an analyst predicts a surge to $3,300 in just one week. This forecast shows Ethereums projected successful breach of a key resistance level, indicating an imminent price recovery to new highs.   Analyst Projects Ethereum Price Recovery To $3,300 Ted Pillows, a crypto analyst on X (formerly Twitter), has shared a super bullish projection for the Ethereum price despite its recent downturn. The analyst projects that ETH can reach $3,300 in just one week, highlighting key technical patterns and changes in price action to support his prediction. Related Reading: Analyst Says Youll Regret Not Buying Ethereum At These Prices, Heres Where Its Headed Pillows pointed out that a Symmetrical Triangle technical pattern has appeared on the Ethereum chart. This formation is typically seen as a bullish pattern, signaling an imminent price breakout to the upside after a period of consolidation. The crypto analyst described his projected rally for Ethereum as a short-term pump, meaning that in the coming days, ETH could easily hit the new price target. Pillows highlighted a breakout area for Ethereum on its price chart. Currently, the cryptocurrency is trading at $2,688 and approaching key resistance levels. If it can break past the symmetrical triangle pattern and breach the resistance level around $2,750, then the analyst suggests that a surge between $3,100 and $3,300 is possible.  Following Ethereums projected rise to $3,300, Pillows anticipates a possible move back toward consolidation zones. This suggests that Ethereum may experience a slight price correction and consolidate around that price range for a while. Interestingly, the analyst predicts that once ETH completes its consolidation, it will experience another rally to its next price target.  The price of Ethereum has fallen by over 18% in the past month, highlighting its slow growth and susceptibility to market volatility. If the Ethereum price can surge to Pillows projected target of $3,300 by next week, then the cryptocurrency will be on its way toward a much-needed price recovery.  While cryptocurrencies like Bitcoin, Solana, and XRP have all hit respective all-time highs during this bull cycle, Ethereum has failed to experience a rally strong enough to push its price back to historic highs. Nevertheless, analysts remain bullish about the altcoins future outlook, highlighting strong fundamentals and bullish technical indicators.  ETH Flashes Bullish Buy Signal According to crypto analyst Merlijn the Trader, Ethereum has just flashed a buy signal on its daily price chart. The analyst also noted that its Moving Average Convergence Divergence (MACD) has just flipped bullish, signaling a potential for an upward trend.  Related Reading: Ethereum Price Enters Bullish Expansion, Analyst Reveals How High It Can Go In February Merlijn the Trader has revealed that the last time all of these technical indicators aligned in this manner, Ethereum pumped by over 66% to new highs. This historical pattern suggests that Ethereum could see a similar upward movement in the future. As a result, the analyst has projected a potential surge to $2,800 for ETH, marking a 4% increase from its current price.  Featured image from Unsplash, chart from Tradingview.com

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