Cardano Surge To $1.17 Triggers Overbought Warnings: Time To Sell?

Cardano recent price surge has been nothing short of impressive, with ADA climbing steadily to challenge the $1.17 resistance level, a key psychological and technical barrier. Overbought conditions often precede a period of consolidation or correction, as traders take profits and the market seeks equilibrium. For ADA, this could mean a temporary slowdown or pullback from the $1.17 resistance, especially if buyers fail to muster enough strength to break through this stubborn level. On the other hand, a successful breach could open the door for further gains, potentially propelling ADA toward higher price targets. Cardanos Rally Hits A Wall At $1.17 After an impressive rally that stalled at the $1.17 resistance level, ADA is beginning to show signs of weakness, with selling pressure gradually increasing. The failure to break past this key resistance has led to a shift in momentum, causing the price to decline toward the $0.9077 support zone. This pullback suggests that bulls may be losing strength and bears are beginning to take control. Related Reading: Cardano Price Prediction: Analyst Says $0.8 Might Not Come Again If This Wedge Breaks Out Technical indicators further reinforce the possibility of a continued downturn as momentum begins to shift in favor of the bears. The Relative Strength Index (RSI), which previously hovered in overbought territory due to strong buying pressure, is trending downward. This decline suggests that bullish momentum is weakening, and traders may be taking profits, leading to an increase in selling pressure. Additionally, a break below the mid-level (50) on the RSI would validate the bearish outlook, increasing the likelihood of a deeper correction. If the RSI continues to slide toward the oversold region and ADA fails to hold above the critical $0.9077, it could accelerate ADAs decline toward lower support levels A breakdown below this level would signal rising bearish pressure, potentially pushing the price toward $0.8119, a key area where buyers previously stepped in to halt declines. If this support fails to provide a strong rebound, ADA might extend losses, testing the $0.80 level and serving as another crucial barrier for the bulls. Bullish Scenarios For ADA Cardano has the potential for a bullish turnaround as key support levels hold and buying pressure increases. The $0.9077 level is crucial for a rebound, and a strong bounce from this area could trigger renewed momentum, allowing ADA to challenge resistance levels and regain upside directions. Related Reading: Cardano Remains In Consolidation Expert Projects 25% Price Move Furthermore, the $1.17 level serves as a key pivot for ADAs bullish scenario. A breakout above this mark, backed by strong volume, may signal growing buyer confidence. If successful, ADA may gain momentum and target $1.58 and beyond. However, for these bullish scenarios to play out, Cardano must hold above key support levels, especially $0.9077. Failure to maintain control by buyers puts ADA at the risk of further declines. For now, traders are watching for signs of stabilization and bullish confirmations before expecting a strong upward move. Featured image from Adobe Stock, chart from Tradingview.com

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Dogecoin Proves Its Not Dead $0.18 Retest Could Be The Beginning

Dogecoin is staging a powerful comeback, reinforcing its resilience in the volatile crypto market. After enduring periods of uncertainty and downward pressure, DOGE has managed to reclaim the crucial $0.18 level, a price point that is now acting as a key battleground between bulls and bears. This level has emerged as a defining line in the sand; holding above it could fuel a strong rally, while dropping below might open the door for further declines. With increasing trading volume and renewed interest from investors, the stage is set for an intense showdown. Technical indicators suggest that momentum is shifting in favor of the bulls, but resistance levels ahead could still pose a challenge. As momentum continues to build, Will Dogecoin solidify its breakout and surge higher, or will the bears attempt to reclaim control? The Battle For $0.18: Why This Level Matters Dogecoin’s $0.18 price level has become the defining battleground between bulls and bears, marking a critical inflection point in its price action. This level has previously acted as both strong resistance and key support, making it a decisive line that could determine DOGEs next move. Related Reading: Dogecoin Is All Going To Plan, Says Crypto Analyst However, current price action suggests that bulls have taken the drivers seat, showing strong buying pressure to help DOGE hold above the $0.18 level. The increasing demand and rising trading volume indicate growing confidence among traders, reinforcing the possibility of further upside movement. Furthermore, Dogecoins recent price action is backed by strong technical signals, with the Relative Strength Index (RSI) climbing above the 50 mark, indicating a shift toward bullish momentum. Significantly, this rise in RSI aligns with DOGEs breakout above $0.18, reinforcing the argument that bulls are gaining control. If this bullish momentum persists, and the RSI continues to trend higher without entering overbought territory (above 70), it could signal more upside potential, with resistance targets at $0.24 and $0.29. A successful break above this level will send the price upward toward other resistance levels such as $0.35 and $0.4. What If Dogecoin Fails? Potential Downside Risks Dogecoins price action is at a critical juncture, and its ability to maintain bullish momentum depends on key support levels that might prevent a further downside move. After breaking above the $0.18 level, DOGE may face a pullback to this level for a retest. Related Reading: Dogecoin Forms A Daily Bullish Pattern Analyst Expects A Breakout To $0.43 If DOGE falls below $0.18, the next major support zone sits around $0.12, a level where buyers have previously stepped in to defend price drops. An extended decline could see DOGE testing $0.09, an area of historical significance that could serve as a strong accumulation zone. Featured image from Adobe Stock, chart from Tradingview.com

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BNB Bounces Back: Uptrend Resumes After A Healthy Pullback

After a brief yet necessary cooldown, BNB is back in action, regaining bullish momentum and resuming its uptrend. The recent pullback provided a much-needed reset, allowing buyers to step in near the $605 support level and strengthen the foundation for a renewed climb.  Now, with increasing buying pressure, BNB is making another push toward key resistance levels, signaling that the rally may not be over just yet. However, breaking through overhead resistance will be a crucial test for bulls. If buying pressure continues to build, BNB could push toward new local highs. Meanwhile, if bears step in at key levels, another retracement could be on the horizon.  Technical Rebound: Charting The Recovery Momentum After a strong rally, BNB experienced a brief pullback, allowing the market to cool off before resuming its upward trajectory. Rather than signaling a reversal, this dip served as a natural correction, shaking out weak hands while providing strong support for the next move. Related Reading: BNB Price Finds Footing After Clearing $605 Resistance Toward Higher Targets During the pullback, BNB found support at a crucial level, preventing a deeper decline and reinforcing bullish confidence. The consolidation phase also helped ease overbought conditions, resetting momentum indicators like the Relative Strength Index (RSI) and allowing for a more sustainable climb. Additionally, the price is currently holding above the 100-day Simple Moving Average (SMA).  As long as the price remains above the 100-day SMA, the uptrend remains intact, suggesting the potential for further gains. As BNB continues its recovery, key resistance levels will play a crucial role in determining the strength of its uptrend. The first major hurdle lies at $680, a psychological and technical barrier where previous rejections have occurred. A decisive break above this level could attract more buying pressure, paving the way for more growth.  Beyond $680, the next resistance to monitor is around $725, where sellers previously stepped in during the last rally. Clearing this zone would signal strong upward movement and open the door for a potential test of the $795 mark, a key milestone that might fuel further upside. BNB Bearish Risks: What Could Halt The Uptrend? Despite BNBs renewed bullish momentum, several factors could stall its upward movement. One key risk is failure at critical resistance levels, particularly around $680. A rejection at these points combined with declining buying pressure, would trigger a pullback and encourage profit-taking. Related Reading: BNB Ready To Breakout? New ATH Coming In No Time If This Resistance Breaks Another concern is weak trading volume. If BNBs rally lacks sufficient volume support, it may indicate waning investor confidence, making it easier for sellers to regain control. Additionally, if indicators like the RSI enter the overbought territory without strong price follow-through, a correction could be imminent. Featured image from Unsplash, chart from Tradingview.com

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Bitcoin Difficulty Takes a Dip: Network’s First Downward Adjustment in 56 Days Signals Easier Mining Ahead

On June 28, 2023, Bitcoin saw its first downward difficulty adjustment in 56 days, or since May 4, with a decline of 3.26%. This modification lowered the network’s difficulty to 50.65 trillion from its record high of 52.35 trillion on June 14. Bitcoin Mining Gets a Breather: Difficulty Decreases by 3.26% in Recent Adjustment Today, [...]

The post Bitcoin Difficulty Takes a Dip: Network’s First Downward Adjustment in 56 Days Signals Easier Mining Ahead appeared first on Crypto Breaking News.

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Australia’s Northern Territory mulls landmark crypto gambling regulation

“It's clear from the draft framework that what they're looking at is wagering using cryptocurrency,” said Julian Hoskins, the principle of gambling law and regulatory advisory firm Senet.

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ADA Charts Turn Bearish Technical Indicators Signal More Pain Ahead

Cardano (ADA), once hailed as a top contender in the blockchain space, is now facing a challenging phase as its price charts take a sharp turn for the worse. Over the past few weeks, ADA has struggled to maintain its footing, with technical indicators increasingly pointing to the possibility of further downside With market sentiment tilting toward caution, traders and investors are closely monitoring ADAs next moves. Will the current bearish setup trigger a sharper decline, or can ADA stabilize and mount a comeback?  A Breakdown Of Recent Market Movements Recent market movements for ADA have painted a concerning picture, highlighting a distinct lack of strong bullish momentum. Despite occasional attempts to recover, the altcoin has consistently failed to reclaim crucial resistance zones, leaving the asset vulnerable to more downside. Related Reading: Cardano Remains In Consolidation Expert Projects 25% Price Move ADA is showing signs of increasing bearish momentum as the assets have made a negative crossover below the 100-day Simple Moving Average (SMA) a key indicator that often dictates market trends. Sustained trading beneath this level reflects diminishing bullish strength and increases the likelihood of a downtrend. Adding to the concerns, the Relative Strength Index (RSI) is trending downward below the 50% threshold, indicating a decline in buying pressure and a shift toward a bearish trajectory. This weakening demand suggests that sellers are gradually gaining control, making it harder for ADA to stage a recovery. If the RSI continues to decline toward oversold territory, it could reinforce the pessimistic outlook, increasing the risk of a deeper price correction. ADAs negative trend is likely to persist should ADA fail to break above the 100-day SMA and the RSI remains below the 50% threshold coupled with rising selling pressure. Typically, this scenario could lead to an extended decrease, pushing the price toward major support levels. Key Levels To Watch: Where Can ADA Find Support? As ADA struggles to gain upside momentum, identifying key support levels becomes crucial in assessing potential downside risks and rebound opportunities. With the price trading below the 100-day SMA and bearish sentiment prevailing, market participants are closely watching how the asset reacts to critical price zones. Related Reading: Cardano (ADA) at a Crossroads: Could Bears Take Control Again? The first key support to watch lies around $0.6822. If selling pressure persists, retesting this area is probable, where bulls may attempt to defend the price and prevent further declines. A bounce from this level could indicate a short-term recovery. However, failure to hold the $0.6822 support puts the next major zone to watch at $0.5229, a historically significant level that has served as a key turning point in previous market movements. Losing this support might accelerate the bearish momentum, leading to a deeper correction. Featured image from iStock, chart from Tradingview.com

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XRP Nears Oversold Territory: Will $1.9 Support Trigger A Rebound?

XRP has reached a critical $1.9 support level, a price point that could define its short-term trajectory. At the same time, the Composite Trend Oscillator indicator is signaling oversold conditions, hinting at the possibility of a price rebound. Oversold readings typically suggest that selling pressure may have peaked, paving the way for buyers to regain control. The spotlight is now on the $1.9 support levelwill it act as a launchpad for a bullish reversal, or will bears push XRP into deeper declines? As the market watches closely, this combination of technical signals and price action could set the stage for XRPs next major move. $1.9 Support Role In XRP Price Action The $1.9 support level has emerged as a pivotal zone for XRP, acting as a foundation for its price stability amid ongoing market turbulence. Support levels are essential in technical analysis, serving as points where buying pressure is typically strong enough to halt or reverse a downtrend. For XRP, the $1.9 level represents a psychological threshold and holds significant historical importance in its price action. Related Reading: XRP Price Momentum Stalls: Bulls Fails to Break Through Additionally, this level has been tested multiple times in the past, demonstrating its resilience as a reliable anchor for bullish recoveries. Traders and investors often view such critical support zones as opportunities for entry, anticipating a possible bounce that might lead to upward momentum. However, its role extends beyond just being a price floor. It also serves as an indicator of market sentiment and the balance of power between bulls and bears. Currently, as XRP approaches this key level, the question remains whether it can sustain the buying interest needed to spark a recovery. A successful defense of the $1.9 support would reaffirm its strength and likely attract fresh buying pressure, setting the stage for a rally toward higher resistance levels. However, a breach of this critical support could signal a shift in momentum, leading to more declines and triggering stop-loss orders from traders, which may accelerate the downward move. The Bigger Picture: What Current Setup Means For Its Future XRPs current technical setup offers crucial insights into its next potential direction. The $1.9 support level is a key zone, with oversold signals suggesting a rebound. If this support level holds, it is likely to restore bullish confidence, sparking an upward movement toward the $2.9 resistance level and beyond. Related Reading: XRP Price Crash: Analyst Says Dont Get Distracted As RSI Is Still Above A Bullish 50% However, if this level fails to hold, it could trigger additional bearish momentum, pushing the price toward the next lower support zone at $1.7. XRP breaking below this level could lead to a retest of additional support levels. Featured image from Medium, chart from Tradingview.com

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XRP Bullish Surge Takes Price Within Striking Distance Of $2.9

XRP is steadily gaining strength as its price nears the critical $2.9 resistance level, sparking excitement in the market. The surge represents a significant shift in market dynamics, with XRP showing signs of resilience and a potential breakout on the horizon. Supported by growing buying interest and favorable technical signals, the altcoin is setting the stage for what could be a decisive move upward. As the asset inches closer to this pivotal level, traders are carefully monitoring its price action. A successful breakout would reinforce the bulls control and attract further interest, while a rejection could prompt a reassessment of market strategies. This moment may be a defining one for XRP since its ability to conquer $2.9 serves as a key indicator of its future direction. A $2.9 Level In Sight As XRP Rally Gains Momentum XRPs price has demonstrated considerable resilience after a failed attempt to break below the 4-hour Simple Moving Average (SMA), an indicator that acts as a dynamic support or resistance level. This failed breakdown highlights the strength of the buyers, who quickly stepped in to defend the price above the SMA. Related Reading: XRP Price Breaks Out Of Symmetrical Triangle Pattern, Why The Target Is $8 In the aftermath, XRP experienced a series of bullish candlesticks, reflecting increasing investor confidence and a growing demand for the cryptocurrency. The strong upward momentum has pushed XRP closer to the key $2.9 resistance level, a critical point in determining the next phase of price action.  A successful break above this resistance could set the stage for a more sustained rally, opening the door to higher price targets. If the bulls manage to maintain control and surpass this level, the market may experience a surge of buying interest as traders look to capitalize on the breakout. Moreover, technical indicators like the Relative Strength Index (RSI) suggest that buyers are currently in control of the market. The RSI line has surged well above the 50% threshold and is now firmly in the overbought zone, indicating strong bullish momentum.  As the RSI rises, it further supports the view that the bulls are driving the market. Nonetheless, caution is advised as the overbought territory often signals the possibility of a price correction if buying pressure begins to wane. Bulls Pushing Toward Key Resistance: Whats Next? XRPs price has built significant strength, with bulls pushing it toward the key $2.9 resistance level. As the price approaches this threshold, a breakout above $2.9 could lead to more gains, potentially forming new highs. However, the $2.9 resistance remains a formidable hurdle. Related Reading: XRP Could Skyrocket 470% If History Repeats, SuperTrend Indicator Suggests If XRP fails to clear this level, it might face a pullback as traders may take profits or become more cautious, causing the price to retract. In such a scenario, the focus would shift to key support levels such as $1.9 that may act as a buffer against a deeper decline. Featured image from Adobe Stock, chart from Tradingview.com

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