According to Tony Severino, a crypto analyst on X (formerly Twitter), the Bitcoin price could surge significantly to $120,000 by next week. The analyst has grounded his bullish projection on Bitcoin’s daily Bollinger Bands (BB), highlighting that these indicators are expanding while BTC displays a similar price action observed in 2023. BTC Price Targets $120,000 ATH On December 12, Severino shared a chart demonstrating a technical analysis of Bitcoin using the Bollinger Bands and a historical correlation of late 2023 price behavior. The analyst predicted that if history repeats itself, the Bitcoin price could reach a $120,000 all-time high by next week. Related Reading: Shiba Inu Price Rebounds Toward $0.00003, Taking 69% Of All Holders Back Into The Green Severino disclosed that Bitcoin’s daily Bollinger Bands are expanding, while its current price action reflects a similar bullish trend observed in 2023. Looking at the analyst’s 2024 price chart, Bitcoin’s upper and lower Bollinger Bands are represented by a respective red and green trend line. Typically, an expanding Bollinger Band indicates increasing price volatility. Bitcoin could start a bullish trend if it breaks above the upper band or enter a bearish phase if it drops below the lower band. Bitcoin has also tested the lower Bollinger Band at $92,560 and is now steadily approaching the upper band at $102,323. Additionally, the analyst has placed Bitcoin’s Bollinger Band basis at $97,442. Severino observed that the Bitcoin price chart on the right shows a historical instance in late 2023 when BTC broke above the upper Bollinger band and followed with a substantial price rally as it walked the bands higher. This historical trend is currently being replicated in Bitcoin’s 2024 price setup, indicating a potential for a significant upward price movement if similar conditions seen in 2023 are met. If Bitcoin’s price closes above the upper Bollinger Band with a buy signal, it could spark a rally toward $120,000. Currently trading at $100,219, Bitcoin would need to increase by 20% to reach the analyst’s projected target by next week. Analyst Confirms Bitcoin Bollinger Band Bullish Signal Also commenting on Bitcoin’s recent price action, Trader Tardigrade, an analyst on X, revealed that BTC’s Bollinger Bands and Bollinger Band Width (BBW) are signaling the potential for a strong uptrend continuation. Sharing a price chart, the analyst noted that Bitcoin previously dipped to the middle of the band but quickly recovered, underscoring the supportive nature of the mid-band. Related Reading: Dogecoin Price On Its Way To $1: Why A Retest Of $0.48 Is More Important Than Anything Trader Tardigrade has revealed that Bitcoin’s BBW has hit a lower contraction, while its recent price movements resemble those of early November, just before its price skyrocketed from $70,000 to $100,000. If Bitcoin’s price maintains its current bullish trend, the analyst predicts a surge that could drive the cryptocurrency to a new all-time high at $136,000. This substantial price increase would represent a massive 36% rally from Bitcoin’s current price. Featured image created with Dall.E, chart from Tradingview.com
A crypto analyst has shared an XRP price chart, hinting at a potential breakout above $10 if the prominent altcoin can replicate a past fractal. The analyst urges the XRP community to monitor this fractal closely, highlighting the need to monitor price movements in the coming weeks. XRP Price Eyes $16 As Analyst Spots Bullish Fractal An XRP supporter on X (formerly Twitter), known as ‘LUDXRP,’ has released a detailed chart analysis, predicting that the XRP price could climb to an ambitious price target of $16.15. The analyst mentioned the presence of a historic fractal on the XRP chart. Related Reading: Dogecoin Price On Its Way To $1: Why A Retest Of $0.48 Is More Important Than Anything The fractal pattern, indicated by the blue circle in the chart, highlights a significant upward movement in the XRP price. Following the movements of the chart, if XRP can replicate this fractal, it could trigger a significant price rally toward $16.15. Multiple green horizontal lines have also been shown in the chart, spotlighting different resistance and support zones that could trigger a reaction in the XRP price. With XRP trading at $2.42, the horizontal trend lines above its current price are seen as crucial resistance levels. The analyst highlighted intermediate price levels like $2.8, $4.1, $7.6, and $12.7 as crucial resistance levels, which XRP must surpass before reaching the ambitious target of $16.15. Additionally, the chart identifies $2 as a potential support level, warning that if the price drops below this mark, it could lead to a possible price dip to $1. With the possibility of breaking above $16, the XRP supporter has urged community members to monitor the fractal on the price chart closely. He emphasized the importance of XRP maintaining an upward trend within the blue circle, which could trigger his projected price increase toward $16. XRP To See “Face Melting” Rally This Christmas A crypto analyst identified as the ‘Charting Guy’ on X has expressed optimism about XRP’s future price outlook. According to the analyst, XRP could experience a ” face-melting “ rally to new highs by Christmas and in late January. Related Reading: Shiba Inu Price Rebounds Toward $0.00003, Taking 69% Of All Holders Back Into The Green The analyst has stated that if XRP continues to follow past bullish trends seen in 2017, the market will likely consolidate for another two weeks until Christmas. He disclosed that this bullish projection was primarily based on XRP’s fractal rather than relying on Fibonacci levels. In response to a comment from a crypto community member, the Charting guy agreed that by December 30, XRP would experience a series of strong green weeks, potentially driven either by the Christmas hype or the bullish sentiment surrounding the RLUSD stablecoin. The analyst also agreed that January 20, the inauguration day of Donald Trump as the United States (US) President, could mark the XRP price top, which the market would likely consider a “sell the news event.” Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst Master Kenobi has provided extensive analysis, which discusses the Bitcoin price dominance and altcoin season. In his analysis, Master Kenobi also revealed what this sudden volatility means for the market. Where The Bitcoin Price Dominance Is Headed In an X post, Master Kenobi stated that the Bitcoin price dominance was meant to have begun its decline yesterday. However, the drop started 20 days earlier than anticipated. The crypto analyst added that. Having recorded three consecutive red weeks, Bitcoin’s dominance has entered a phase of volatility that could last for some time. Related Reading: XRP Price Flashes Falling Wedge Pattern, Why $2.8 Is A Possible Target From Here The analyst’s accompanying chart showed that the Bitcoin price dominance experienced this volatility phase for 136 days. If history were to repeat itself, this volatility won’t end until April 6 next year. Master Kenobi opined that the market is currently in the first and likely the most critical stage of capital rotation from Bitcoin profits. Once the market moves past this period of capital rotation, Master Kenobi predicts that a massive drop in dominance will follow, which, on the other hand, can be interpreted as the start of the altcoin season. Master Kenobi stated that even if the bull market extends beyond April 6, this period will likely be the most prolific for most altcoins. Master Kenobi noted that the bottom in the Bitcoin price dominance on May 14, 2021, coincided with the first peak of the crypto market during the 2021 bull run. The analyst expects a similar pattern to unfold this time around. Meanwhile, the analyst indicated that the bottom in the dominance could happen at the beginning of March instead of April 6. From The Bitcoin Halving Perspective Master Kenobi also used the Bitcoin halving date as a reference point to prove that the Bitcoin price dominance could move along with these timelines. He noted that in the previous cycle, there was a short interval (four days) between the one-year anniversary of the Bitcoin halving on May 11 and the first major bottom in dominance on May 15. Related Reading: Dogecoin Price On Its Way To $1: Why A Retest Of $0.48 Is More Important Than Anything In line with this, the analyst remarked that the timeline for the bottom in the Bitcoin price dominance (which would also mark the peak for the crypto market) can extend beyond April 20 to April 23, 2025. Master Kenobi cautioned that the exact date for the market peak cannot be pinpointed at this moment. However, as time passes, he believes that there is a likelihood that he will be able to pinpoint with greater accuracy the date when the first phase of the bull market will end. At the time of writing, the Bitcoin price is trading at $100,300, down in the last 24 hours, while its dominance is at 55.13%, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Ethereum (ETH) has seen a significant 4.7% recovery in the last 24 hours, reclaiming a crucial support zone. This performance has fueled a bullish sentiment among some market watchers, who consider the cryptocurrency to break above a key resistance level in the coming days. Related Reading: Bitcoin Sees First Close Above $100,000, But Is A Big Correction Coming? Ethereum Reclaims Key Support Nearly a week ago, Ethereum jumped above $4,000 for the first time in nine months, nearing its march-high and the long-awaited $4,100 resistance level. However, the cryptocurrency’s rally was momentarily paused after the crypto market saw a significant pullback. Earlier this week, ETH retraced nearly 10%, dipping below the $3,500 mark as Bitcoin retraced to $95,000. After the retrace, the second-largest crypto by market capitalization has steadily climbed back, recovering the $3,800 support zone on Wednesday afternoon. ETH’s price then rose another 2% in the early hours of Thursday to trade above the $3,900 level again. As Ethereum reclaimed this key zone, Crypto analyst Carl Runefelt noted that the cryptocurrency was trading back above its ascending support trendline, which it had lost during the market correction. Additionally, the King of Altcoins was retesting a six-day downtrend line in the 4-hour chart, which would target a surge toward $4,000 after a successful breakout from the $3,940 mark. Ethereum broke above this resistance in the following hours, surging to a daily high of $3,985 before retracing to $3,945. Per the analyst, holding above this level could propel ETH’s price to $4,100 in the coming days. ETH To $5,000 Soon? According to some analysts, despite reclaiming the $3,900 zone, Ethereum still needs to turn another multi-year resistance into support successfully. Analyst Alex Clay recently pointed out that ETH has been retesting the $9,350 level since 2021, unsuccessfully turning it into support over the past few years. Ethereum has faced rejection at this resistance level on four different occasions. However, when ETH broke and held this level, it rallied toward its all-time high (ATH) of $4,878 around three years ago. Crypto analyst Jelle suggested that Ethereum is preparing for massive moves as it recently broke out of a multi-year pennant. ETH-based Exchange-traded funds (ETFs) have seen a massive surge since the post-election rally. As Farside Investors data shows, ETH ETFs have seen over $500 million in inflows this week and over $1.3 billion since this month started. This signals increased demand from institutional players, adding to the cryptocurrency’s momentum. Related Reading: Analyst Sounds The Alarm As Solana (SOL) Retests $210, Rebound Or Retrace Next? Moreover, the Donald Trump-backed DeFi project World Liberty Financial Initiative (WLFI) acquired around $10 million in ETH yesterday. Lookonchain said the WLFI wallet bought 2,631 ETH at $3,801 per token. To Jelle, this “looks like ETH season just got the ‘go ahead’ nod from institutions.” If Ethereum reclaims the $3,950 resistance into support, there will be “very little standing in the way of new all-time highs from here,” the analyst added. He forecasted that Ethereum could hit $5,000 after breaking out and that 2025 will be a “comeback year for ETH.” As of this writing, ETH is trading at $3,951, a 4.7% surge in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
The Shiba Inu price has rebounded towards $0.00003, which has put most of the SHIB holders back in the green. This is significant, considering how it could set Shiba Inu on a path to higher prices. Most SHIB Holders In The Green As Shiba Inu Price Rebounds IntoTheBlock data shows that most SHIB holders are in the green as the Shiba Inu price rebounds towards $0.00003. 69% of these SHIB holders are now in the money, while 24% are out of the money, and 6% are currently in the money. This could be bullish for the Shiba Inu price, considering that holders are less likely to sell when they are in the money. Related Reading: XRP Price Prediction: Last Phase Of ABC Wave Points To A Bounce To New ATH At $5.85 This could reduce the selling pressure on SHIB and sustain the Shiba Inu price recovery. The meme coin has recovered towards $0.00003. The ‘In the Money’ metric shows that the next significant resistance level that Shiba Inu needs to break above is $0.000033. 130,620 wallet addresses bought 15.06 trillion SHIB tokens around this level. However, on-chain metrics still paint a bearish picture for Shiba Inu, which is undoubtedly concerning. IntoTheBlock data shows that the ‘Concentration’ metric is in the red, indicating that SHIB whales currently have a bearish sentiment towards the meme coin and are opting against accumulating more coins. This large transaction metric is also bearish at the moment as Shiba Inu whales are opting against accumulating more coins. The net network growth also paints a bearish picture for the Shiba Inu price, as there is currently a low influx of new addresses buying the meme coin. The Shiba Inu burn rate has also remained inconsistent, further presenting a bearish outlook for the Shiba Inu price. Shibburn data shows that the burn rate is down over 79% in the last 24 hours, with three million coins burned during this period. From A Technical Analysis Perspective Crypto analyst Javon Marks has provided a bullish outlook for Shiba Inu from a technical analysis perspective. In an X post, he stated that Shiba Inu recently confirmed another bullish pattern, which could lead to a continuation of its upward trend. The analyst added that another major upside move could be in play for SHIB, with the meme coin possibly rallying to $0.00081 or even higher. Related Reading: Weekly Bull Flag Appears On XRP Price Chart, Why A Double-Digit Is Still Feasible The crypto analyst further mentioned that with this target at $0.000081, the Shiba Inu price could witness a 180% climb and that this rally may already be in play. A rally to $0.000081 could pave the way for Shiba Inu to surpass its current all-time high (ATH) of $0.000088. At the time of writing, the Shiba Inu price is trading at around $0.000029, up over 8% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Earlier in November, Dogecoin experienced a rapid ascent to new price highs, driving its Relative Strength Index (RSI) into the overbought zone. However, a crypto analyst revealed that the popular meme coin has officially exited this overbought range following its recent pullback below $0.4. This new shift could signal the potential for another significant surge […]
The Dogecoin price journey toward the coveted $1 mark has been a topic of interest for crypto enthusiasts and traders alike. Reaching $1 would solidify Dogecoin into a new psychological threshold and into new all-time high prices. However, there have been differing perspectives as to how and when this would happen. A technical analysis on the TradingView platform suggests that the Dogecoin price may encounter resistance at $0.48, experience a decline, and then resume its upward trajectory towards $1 and beyond. Dogecoin Price Could Reject At $0.48 Dogecoin is currently trading below the $0.48 mark, but technical analysis has pointed to a notable resistance situated around this price level. According to the Dogecoin price analysis of the 4-hour candlestick timeframe, the $0.48 price level is one to watch. Related Reading: XRP Price Prediction: Last Phase Of ABC Wave Points To A Bounce To New ATH At $5.85 This is because the Dogecoin price has yet to exhibit a notable break above this price level throughout the current bull market cycle. Particularly, the rally has been highlighted by two rejections just below the $0.48 price level, with the highest Dogecoin price so far being $0.475 on November 23 and December 8. The analyst points out that the Dogecoin price recently experienced a solid bounce from the 200EMA on a 4-hour timeframe. This bounce signifies that the bulls are still in control, as the price continues to show resilience against downward pressure. The confluence of support at the 200EMA with bullish momentum provides a foundation for Dogecoin’s upward movement, setting the stage for the anticipated test of the $0.48 level. Interestingly, Dogecoin’s inability to break above $0.48 yet has seen the price level being regarded as the zone of liquidity. The TradingView analyst emphasizes that this level remains a focal point, predicting that Dogecoin is likely to face another rejection at $0.48. Such a rejection could lead to a pullback deeper than any seen so far during this bull cycle and offer an opportunity for consolidation before attempting a stronger breakout. What Happens After The Retest? According to the analyst, a rejection at the $0.48 price level would see the Dogecoin price falling significantly and erasing most of the gains it piled up in November. Particularly, the analyst envisions a fall to fill the CME on lower zones up to the $0.20 price zone. Such a move is expected to have a devastating effect on the sentiment of bullish investors, specifically those anticipating a quick new Dogecoin price all-time high. Related Reading: Solana Price At $4,000? Cup And Handle Pattern Shows Why This Is Possible Despite this anticipated pullback, the analyst maintains a longer-term bullish outlook. Once Dogecoin reaches the $0.20 zone and completes the consolidation phase, a strong rebound is expected to follow. This rebound is projected to drive the price decisively past the $0.48 resistance and set the stage for Dogecoin’s journey toward the much-anticipated $1 milestone. With this in mind, the analyst highlighted the $0.24 to $0.20 range as the ideal buying zone to best capitalize on this move. At the time of writing, the Dogecoin price is trading at $0.42 and is up by 7% in the past 24 hours. Featured image created with Dall.E, chart from Tradingview.com
The XRP price continues to exhibit a notable display of strength despite its corrective phase since it reached above $2.8 on December 3 for the first time in almost seven years. Interestingly, technical analysis shows the corrective phase has been highlighted by an ABC corrective pattern on the daily candlestick chart. Consequently, the XRP price […]
A Falling Wedge pattern has emerged on the XRP price chart, fueling speculation of a bullish reversal to new highs. According to a crypto analyst, XRP could reach three potential new price targets if it can break out of the Falling Wedge, with $2.8 being the highest target. Falling Wedge To Trigger XRP Price Surge To $2.8 The XRP price has been on a powerful uptrend in the past month, jumping from $0.5 to over $2 in just one month. Acknowledging this impressive performance, a crypto analyst on TradingView, known as ‘MBM_Crypto,’ has revealed that the XRP price has undergone a pullback and is currently “cooling off” in a Falling Wedge pattern after experiencing its massive upside move. Related Reading: Bitcoin CME Chart Shows Striking Similarities To 2023, Here’s What Happened Last Time A Falling Wedge is a technical chart pattern that indicates a potential price reversal to the upside. Typically seen as a bullish signal, this pattern often appears during a downtrend, featuring two converging trend lines sloping downwards. The TradingView analyst shared a chart detailing the XRP price action in a 2-hour time frame, highlighting the presence of a Falling Wedge pattern. The chart pointed out key areas where XRP is likely to encounter selling pressure, resistance, and indicate optimal buying levels for investors. The analyst suggests that purchasing XRP when its price breaks above $2.51 could be a strategic move, indicating a potential for a bullish breakout following the conclusion of its current consolidation phase. Additionally, he shared key take-profit targets for investors, suggesting that XRP was on track to potentially hit three bullish price milestones if it successfully breaks out of its Falling Wedge pattern. The first target for XRP is $2.6, followed by the second projected leap to $2.7, while the third and highest target is positioned at $2.8. For the XRP price to achieve these key price levels, the TradingView analyst has suggested that it will have to break above the blue resistance zone at $2.42, thus confirming a potential bullish continuation for the cryptocurrency. While the analyst is confident about his optimistic price projection, he has also acknowledged the possibility of a temporary pullback to $2.15 or even $1.96. Following this price correction, the crypto expert believes that XRP could eventually break out of the Falling Wedge and take off. Analyst Says XRP Is ”Super Bullish” Despite trading at $2.4 after experiencing a slight decline in the past weeks, analysts remain highly optimistic about XRP’s future price prospects. Dark Defender, a prominent crypto analyst on X (formerly Twitter), has declared that the XRP price is “super bullish” during this cycle. Related Reading: Solana Price At $4,000? Cup And Handle Pattern Shows Why This Is Possible The analyst observed that XRP is on the verge of finalizing the ABC Corrective Wave pattern in the daily time frame, signaling a potential reversal and the beginning of an uptrend. This pattern will be confirmed once XRP breaks the $2.52 level. Dark Defender has forecasted that the XRP price could exceed this level within 24 hours, triggering a path to the $5.85 target before potentially skyrocketing to $18.22. Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst Master Kenobi has provided an update on the Dogecoin price action in comparison to the 2021 bull run. The analyst revealed that the DOGE/BTC chart has aligned with this previous cycle and predicted when exactly Dogecoin could experience the long-awaited pump. Dogecoin Price Nears Long-Awaited Pump In an X post, Master Kenobi predicted […]
As the broader crypto market rebounds following Donald Trump’s election on 5 November, Solana (SOL), currently the sixth largest token by market capitalization, has resumed its bullish trajectory, recently reclaiming the $230 price level. On Wednesday, the Solana price surged nearly 7%, reaching $232 after a two-week correction period that followed its current all-time high achievement of $263 on November 23. Could The Solana Price Soar To $4,000? The recent price action suggests that Solana may be on track to not only retest its previous peak but potentially exceed it significantly. Crypto analyst Ali Martinez highlighted a bullish “cup and handle” pattern forming on Solana’s one-month chart, indicating the potential for a remarkable uptrend. Martinez forecasts that if this pattern plays out, Solana could see gains exceeding 1,650%, resulting in a new record price of $4,000 per token. Related Reading: XRP Price Defies Bearish Crypto Trend, Rallies 6%: Key Drivers Revealed However, perspectives among analysts vary regarding the future trajectory of Solana. While some, like Cryptorangutan, emphasize the current momentum indicators and established buying pressure, predicting a surge toward the $300 mark, others urge caution. Analyst MoreCryptoonl on the other hand, points out a completed pullback structure, indicating a clear five-wave move downward. This analysis suggests that while the recovery rally is underway, it remains uncertain whether it will develop into a bullish pattern or an ABC corrective structure. Total Value Locked Hits $9.198 Billion Despite the mixed technical signals, key financial metrics paint a largely positive picture for Solana. According to CoinMarketCap, the market capitalization stands at approximately $112.73 billion, positioning Solana as the sixth-largest cryptocurrency. Additionally, its Total Value Locked (TVL) has reached $9.198 billion, reflecting continued interest in its decentralized finance (DeFi) ecosystem. However, decentralized exchange (DEX) volumes have fallen by 25% to $28 billion, indicating some volatility in trading activity. The narrative surrounding Solana has been further fueled by recent developments in the market. Grayscale’s filing for a spot Solana ETF in the US has generated buzz, as the cryptocurrency community anticipates the potential for increased institutional investment. Additionally, the project Jupiter has revised its $1.6 billion airdrop after a failed vote, while the platform Pump.fun reported record revenue of $93 million for November, despite experiencing a 66% weekly drop. Related Reading: Bitcoin CME Chart Shows Striking Similarities To 2023, Here’s What Happened Last Time In the DeFi landscape, Solana has slipped to third place as Tron’s TVL surged 78% to $13 billion, yet it maintains a strong lead with 5.56 million active addresses. However, the recent decline in DEX revenue and volume, particularly with Raydium experiencing an 8.22% drop, indicates a need for stability in trading activities within the ecosystem. Featured image from DALL-E, chart from TradingView.com
Crypto analyst Bartfil has provided insights into the next move for the Dogecoin price based on past performances. Based on his analysis, Dogecoin could witness a significant price correction before it continues its upward trend. Where The Dogecoin Price Is Headed Next In a TradingView post, Bartfil compared the current situation of the Dogecoin price […]
The XRP price break above the $1 and $2 price levels in recent weeks has put the cryptocurrency on the most bullish trajectory since 2018. Although the XRP price is seemingly consolidating since this notable run, analysts continue to anticipate another remarkable run-up that would eventually see it breaking into new all-time highs. According to […]
A new Dogecoin price analysis reveals the potential for the number one meme coin to surge to a new all-time high at $4. According to a crypto analyst, this bullish target could become a reality if Dogecoin can maintain its position above a critical support level of around $0.35. Additionally, the analyst points to factors […]
Crypto analyst Dark Defender has revealed a target to watch out for as the XRP price targets a new all-time high (ATH). The analyst made this prediction based on his wave analysis, which showed that XRP is still bullish. XRP Price To Hit New ATH At $5.85 In an X post, Dark Defender predicted that the XRP price could reach a new ATH of $5.85 based on his ABC wave analysis. The analyst stated that XRP set the ABC wave when the crypto was at Wave A. He further noted that XRP has bounced back from the $1.88 support level. Related Reading: Dogecoin Price Prediction: Here’s What The 91-Day Pattern Says Could Happen Next With this development, the analyst is confident that the XRP price rally to $5.85 has begun. The analyst recently revealed that a bull flag appeared on XRP’s weekly chart, which showed that the crypto could reach as high as $11 by early 2025. Based on his Elliot Wave theory, the analyst had also previously predicted that the XRP market top could be around $18. In the meantime, the goal is for the XRP price to surpass its current ATH of $3.80 and reach $5.85, as Dark Defender has predicted. XRP has witnessed a price correction following its parabolic rally of over 200% last month. However, the crypto looks well primed for its next leg up. From a fundamental perspective, the XRP price boasts a bullish outlook, especially following New York’s approval of the RLUSD stablecoin. Ripple’s CEO Brad Garlinghouse confirmed that exchange and partner listings are set to follow and that RLUSD will launch soon. This development caused the price to experience a significant bounce. Meanwhile, crypto analyst TheXRPguy listed the RLUSD launch as one of the events that market participants wait for before they consider selling their coins. The stablecoin launch would inject more liquidity into the XRP ecosystem, which could spark a significant surge in the XRP price. The Stars Are Aligning For XRP In an X post, crypto analyst CrediBULL Crypto said that the stars are aligning for a massive bull run for the XRP price. He made this statement while alluding to the fact that experts predict that the US Securities and Exchange Commission (SEC) could dismiss its appeal against Ripple when the new administration comes in. Related Reading: This Analyst Correctly Predicted The Bitcoin Flash Crash To $94,000, But There’s A New Target He noted that the SEC lawsuit is the last “lone cloud” lingering above the XRP community. As such, dismissing the appeal could boost investors’ confidence in the crypto, providing a bullish outlook for the XRP price. CrediBULL Crypto suggested that XRP could reach as high as $10 in this bull run while stating that there should be more than one wave of upside remaining. At the time of writing, the XRP price is trading at around $2.34, up over 8% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
A crypto analyst has unveiled uncanny similarities between Bitcoin’s Chicago Mercantile Exchange (CME) chart from late Q4 2024 and 2023. According to the analyst’s report, the 2024 Bitcoin CME chart replicates the price action seen in 2023, experiencing similar technical patterns, wave structures, price movements, and specific key indicators. Bitcoin CME Chart Mirrors 2023 Price Action A comparative analysis of the Bitcoin CME charts from Nov/Dec 2023 and Nov/Dec 2024 reveals striking parallels. The charts, shared on X (formerly Twitter) by crypto analyst and market technician Tony Severino, feature a near-identical Elliott Wave count, showcasing five distinct waves that indicate classical bullish patterns. Related Reading: XRP Price: Analyst’s ABC Correction Forecast Plays Out Perfectly, Second Half Predicts Bullish Impulse To $2.8 The price action in both charts highlights a significant breakout from consolidation, with Bitcoin’s bullish momentum surging as November and December approach. Moreover, the Bollinger Bands for the Bitcoin CME charts are expanding similarly, indicating a potential for an upward trend continuation. Bollinger Bands are unique technical analysis tools for identifying sharp short-term price movements and potential entry and exit points. Looking at Severino’s Bitcoin CME chart for 2023 and 2024, the price is riding the upper Bollinger Band for both years, suggesting a strong bullish trend. Adding weight to the analysis of these parallel CME charts, the analyst has revealed that both charts showcase similar Fibonacci extensions. In 2023, the 4.416 and 6 Fibonacci extension levels served as crucial markers, with BTC rallying to reach their equivalent price levels at $39,265 and $45,250, respectively. These same Fib extension levels have also been highlighted on the 2024 Bitcoin CME chart, suggesting that Bitcoin could repeat history and hit new price targets of $105,465 and $124,125, respectively. Another key factor Severino identified on both Bitcoin CME charts is the presence of gaps. A CME futures gap refers to the differences between the closing and opening prices of BTC on the CME. In 2023, a CME gap was filled during Bitcoin’s price rally, with the 2024 chart also spotlighting a comparable gap near the $124,125 mark. $120,000 BTC Price Target In Sight While delving deep into the price action and key technical indicators of the Bitcoin CME charts of Nov/Dec 2023 and 2024, Severino predicted that Bitcoin could prepare for a bullish move above $120,000. The analyst has based this optimistic projection on the striking similarities between the Fibonacci extension levels of both Bitcoin CME charts. Related Reading: Weekly Bull Flag Appears On XRP Price Chart, Why A Double-Digit Is Still Feasible Earlier last week, the price of BTC experienced a sharp surge above $104,000, marking a new all-time high. However, the cryptocurrency quickly corrected to $94,000, with many analysts describing this decline as a “Bitcoin flash crash.” Currently, Bitcoin is trading at $97,638, experiencing a steady price increase from previous lows. If the cryptocurrency can maintain a stable bullish position, it’s possible that Bitcoin could rise back towards its $100,000 ATH. Featured image created with Dall.E, chart from Tradingview.com
The Solana price is currently in a massive supply zone after recent declines in the past 48 hours that cut across the entire crypto landscape. Notably, technical analysis suggests that the Solana price is on the way to a massive breakout that would see both its price and market cap surge by over 1,700% in the near future. This analysis is highlighted by a cup and handle formation that has been in play for over two years. According to Solana price analysis shared on social media platform X by crypto analyst Ali Martinez, a bullish cup and handle pattern on Solana’s chart is pointing to a rally to an unprecedented $4,000. Cup And Handle Pattern Signals Bullish Momentum The cup and handle pattern is a classic technical analysis formation often associated with a strong bullish breakout. This pattern, characterized by a rounded bottom (the cup) followed by a smaller dip (the handle), is considered one of the more reliable indicators in technical trading. Related Reading: Weekly Bull Flag Appears On XRP Price Chart, Why A Double-Digit Is Still Feasible In the case of Solana, the development of this pattern has been in action since 2022 through different market cycles. The cup phase began to take shape during the start of the 2022 bear market and extended throughout the entire persistent downtrend. This period also covers the consolidation phase in early 2023 and the rally that took place in the second half of the year. Together, these movements formed the rounded bottom of the cup, with the latter rally highlighted by a break above five successive Fib extension levels. Interestingly, Martinez’s analysis indicates that Solana is currently in the handle phase for the past eight or so months. As it stands, recent price action has seen the Solana price peeking above the neckline of the cup and handle pattern, culminating with the recent all-time high of $263 on November 23. However, the Solana price has been highlighted by a correction phase since reaching this all-time high, with a low of $205 in the past 24 hours. Implications For Solana Price According to technical analysis, the recent all-time high on November 23 coincides with the 1.00 Fibonacci extension level when drawn from the 2022 bear market low of $8, which serves as the lowest point in the cup and handle pattern. Related Reading: This Analyst Correctly Predicted The Bitcoin Flash Crash To $94,000, But There’s A New Target However, the correction that ensued since the all-time high has seen the Solana price retesting the breakout level of neckline for the cup and handle pattern. Such a retest is a common occurrence in cryptocurrency markets, especially after breaking through long-standing resistance levels. With this in mind, Martinez predicted a bounce at the neckline and a resumption of the uptrend. Martinez’s prediction envisions a break above the next four Fib extension levels up until 1.786 Fib extension. If this trajectory were to play out this way, it would drive the Solana price above multiple psychological thresholds, ultimately surpassing $4,000 at the 1.786 extension level., representing a 1,700% increase from the current price of Solana. At the time of writing, Solana is trading at $219. Featured image created with Dall.E, chart from Tradingview.com
Solana (SOL) has seen its rally slow down in the last few days, dropping 23% from its new all-time high (ATH) and over 8% in the past day. Some investors worry about the Altcoin’s short-term performance as the crypto market pulls back. Related Reading: Bitcoin Sees First Close Above $100,000, But Is A Big Correction Coming? Solana Drops To Lowest Level In A Month Solana has been one of the leading cryptocurrencies this cycle, outperforming most of the market and stealing the headlines. Unlike most altcoins, the cryptocurrency outperformed during the Q2 and Q3 retraces, holding above pre-bull run levels. As Q4 started, Solana continued to hover within the $110-$180 price range, breaking above this range after the market’s post-election pump. SOL’s momentum propelled the token past its yearly high and successfully reclaimed the $200 barrier. The token continued to climb higher until its new ATH of $263 on November 23. Since then, Solana hovered between the $245-$220 price range, fueling investors’ optimism about the altcoin’s next “price discovery” move. Nonetheless, SOL’s price has taken a blow in the past day alongside Bitcoin and the rest of the crypto market. Solana saw an 8.7% correction in the last 24 hours, falling to the $210 support level before dropping below it. The cryptocurrency is now retesting the key $200-$210 zone as support for the first time since breaking past it, falling below the $205 level on Tuesday morning. Crypto analyst Altcoin Sherpa shared a possible bearish outlook for SOL’s short-term performance based on the ongoing price retest. Per the post, “SOL weakness has been pretty obvious, and it’s being reflected in the sol shitcoin price action as well.” The analysts explained that the current price action looks seemingly underwhelming, suggesting that holding the $200-$210 region is crucial. Failing to hold this zone would likely send the price to the pre-election resistance level of $180, which has not been tested as support since breaking above it over a month ago. SOL Eyes Higher Targets Similarly, Crypto Jack forecasted a potential fall to the $180-$160 range if SOL fails its retest of the $200 mark as support. However, he considers the over 10% drop a “buy the dip” opportunity for investors. According to his potential play for Solana, the cryptocurrency would bounce to its ATH levels and attempt to break past them. Other market watchers pointed out that SOL is currently retesting the weekly and monthly timeframe resistance as support, which could see Solana go higher “as long as it holds.” Crypto analyst Jelle reaffirmed his $600 target for the cryptocurrency, noting that it “performed incredibly during the first year of the cycle” and will “be a winner again in the coming months.” Related Reading: Cardano Follows 2020 Bullish Pattern – Top Analyst Plans To Take Profits Between $4 And $6 Meanwhile, Bitwise’s latest report predicted that SOL could rally over 200% in 2025. The asset manager’s CIO, Matt Hougan, and Head of Research, Ryan Rasmussen, consider that the altcoin’s momentum “is just beginning to build,” predicting it will hit $750 next year. At the time of writing, Solana is trading at $204, an 8.5% and 3.1% decline in the daily and monthly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Crypto analyst Dark Defender revealed that a weekly bull flag has appeared on the XRP price chart. The analyst further explained why XRP could hit double digits in this market cycle following this development. Weekly Bull Flag Appears On XRP Price Chart In an X post, Dark Defender stated that a weekly bull flag has now appeared on the weekly XRP price chart. He noted that this bull flag had earlier appeared on the daily chart when XRP was at $0.70, as the crypto targetted the $1.88 price level, which it eventually rallied to. With this bull flag on the weekly, the crypto analyst predicted that XRP could rally to double digits. Related Reading: Bitcoin Price Bull Run: Analyst Reveals Why BTC Will Hit Its Top A Month From Now Below $150,000 His accompanying chart showed that the XRP price could rally to as high as $11 as it breaks out from this bull flag. XRP is expected to hit this price target in early 2025, between January and March. Dark Defender cautioned market participants that there will surely be some sideways price movement. However, the crypto analyst expects the ultimate targets to stay the same. Based on Dark Defender’s previous analysis, the $11 target is unlikely to be the market top for the XRP price, as the crypto analyst predicted that the crypto could rally as high as $18 in this bull run. For now, XRP continues to trade sideways, just as he warned that the crypto would do. The crypto had recorded a parabolic rally last month, recording a price gain of 281%. However, the XRP price has cooled off this month as it consolidates for its next leg up. Dark Defender previously highlighted $2.13 and $2.27 as key support levels to watch out for as XRP ranges. Meanwhile, the analyst mentioned $3.9 and $5.5 as the next targets XRP could reach on its next leg up. An “Optimistic” Target For XRP In an X post, crypto analyst Ali Martinez stated that $48.12 is an “optimistic” target for the XRP price. Meanwhile, he highlighted the $8.40 price level as a conservative target for XRP. These predictions came as the crypto analyst remarked that the crypto looks undervalued after breaking out of a massive multi-year symmetrical triangle, which he highlighted on the chart. Related Reading: Dogecoin Price Prediction: Here’s What The 91-Day Pattern Says Could Happen Next Meanwhile, in another X post, he revealed that the XRP price has formed three consecutive bull pennants on its 4-hour chart. Based on this, Martinez stated that market participants should hope for a retest of $2.25 so they can buy the dip, with XRP targeting $4.40 on its next leg up. A rally to $4.40 will mark a new all-time high (ATH) for XRP. At the time of writing, the XRP price is trading at around $2.18, down over 11% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
The Dogecoin price has witnessed a notable decline amidst this wider bloodbath, as it is currently down by 8% in 24 hours. Nonetheless, Dogecoin continues to attract bullish sentiment despite the market crash. Cryptocurrency prices have declined massively in the past 24 hours, with the global crypto market cap declining by a little over 4% […]
Following an earlier prediction of the Bitcoin flash crash to $94,000, a crypto analyst has set a new target for the pioneer cryptocurrency. The analyst anticipates another major decline in the Bitcoin price before it hits a new all-time high. $130,000 Target In Sight After Bitcoin Flash Crash The broader crypto market has undergone a significant correction sparked by the recent Bitcoin flash crash. In the past week, the price of Bitcoin lost $3,000 in less than 30 minutes, dropping from $97,000 to $94,000 before quickly rebounding back above $97,000. This unexpected flash crash triggered widespread liquidations, with more than $1.5 billion in long and short positions wiped out as traders scrambled to mitigate losses. Related Reading: Dogecoin Price Prediction: Here’s What The 91-Day Pattern Says Could Happen Next With Bitcoin currently showing signs of momentum, analysts have voiced expectations of a future price rally. Notably, a TradingView crypto analyst, identified as ‘Setupsfx,’ shared a detailed price chart predicting Bitcoin’s future movements and next target. The analyst accurately forecasted Bitcoin’s flash crash to $94,000 and has now expanded his predictions to include a potential recovery phase. According to his latest analysis, Bitcoin is expected to find strong support around the $96,000 level following a short-term price correction to this key zone. This new support level is seen as a healthy retracement to help build momentum for upward movement. The analyst’s chart depicts an accumulation phase on the left side, during which prices seem to be moving sideways, forming strong lows while filling Fair Value Gaps (FVG). Additionally, order blocks and Breaks of Structure (BOS) can be identified on the Bitcoin price chart. According to the chart, the Bitcoin price successfully broke out of the aforementioned accumulation zone and started a rally that led to its ATH above $100,000. This bullish momentum aligns with the hype from the US Presidential election, which fueled Bitcoin’s rise to a new all-time high. With this in mind, the analyst predicts that Bitcoin will experience another pullback, likely testing the $96,000 zone before a price reversal. This reversal is expected to ignite a fresh rally, potentially pushing Bitcoin toward a new target of $130,000. Update On BTC Price Action At the time of writing, the Bitcoin price is trading at $97,223 after dropping by more than 2% in the last 24 hours, according to CoinMarketCap. The cryptocurrency has been trading below the $100,000 level following a slight pullback after hitting an ATH above $104,000. Related Reading: PEPE Price Hits $0.000027 ATH, On-Chain Data Says These Are The People Driving It The broader market sentiment has also turned bullish despite the recent Bitcoin price decline. Notably, Bitcoin’s trading volume has risen by 99% in the last 24 hours, and its market cap is approaching the $2 trillion milestone. Commenting on Bitcoin’s price action, crypto analyst Jelle disclosed that Bitcoin’s current price action closely mirrors its bullish behavior during the 2020 ATH breakout. Based on these similar price movements, the analyst predicts that Bitcoin could see another breakout soon if it maintains this bullish momentum. Featured image created with Dall.E, chart from Tradingview.com
The Shiba Inu burn rate has seen a turnaround, skyrocketing by 1,068% despite the meme coin’s recent price decline. This unexpected Shiba Inu burn recovery comes amid a bearish market trend, with indicators suggesting the potential for further SHIB price corrections. However, the sharp increase in burn rate could indicate a renewed interest from investors, […]
The XRP price action has played out notable volatility in the past eight or so weeks, with intense trading activity not seen in over six years. Following the U.S. presidential election on November 5, 2024, where Donald Trump secured victory, XRP’s value surged over 400%, reaching a peak of $2.90 on crypto exchange Binance on December 3. However, the XRP price has experienced a downturn in the past week. Interestingly, this XRP price correction seems to be playing out an ABC correction path, with technical analysis suggesting a more downturn before the next leg up. XRP Price Exhibiting ABC Correction The XRP price correction since reaching the $2.9 mark has been highlighted by an ABC pattern that is almost nearing its end. Particularly, this pattern constitutes two downtrend waves A and C and a minor uptrend wave B in between. Related Reading: Bitcoin Price Bull Run: Analyst Reveals Why BTC Will Hit Its Top A Month From Now Below $150,000 According to the price chart below, which is of the XRP/US Dollar pair on the 4-hour candlestick timeframe, the first downtred wave A kicked off after the XRP price was rejected at resistance around $2.9 on December 3 up until it bottomed out around $2.16 on December 5, representing a 25% decline in two days. From there, it went on a minor uptrend wave B, which indicated that the bulls were still in action. Wave B culminated with a lower high at $2.65 on December 9, which translates to another 22% increase in four days. Since reaching this lower high, the XRP price has kicked off another correction path in the past 24 hours, giving rise to the notion of corrective wave C now in action. If a similar trend were to play out like that of wave A, we could see the XRP price correcting by another 25% from $2.65, which would put the bottom just below $2 before another bounce up. This is very logical, considering that the $2 price level serves as a psychological threshold that the bulls would be preventing a break below. Bullish Impulse Suggests Next Move To $2.8 And Beyond At the time of writing, the XRP price is trading at $2.19 and is down by almost 10% in the past 24 hours. The ongoing wave C, which is the final leg of the ABC corrective pattern, could continue on a downtrend until it reaches resistance at $2. Technical indicators support this outlook, especially the Relative Strength Index (RSI). Related Reading: PEPE Price Hits $0.000027 ATH, On-Chain Data Says These Are The People Driving It The RSI has slipped below its overbought zone for the first time since November 10. This signals a cooling off of the bullish momentum that propelled XRP to its recent highs, paving the way for the corrective wave C to run its course. Despite this pullback, market dynamics suggest that a bounce from the $2 level is a strong possibility. Such a rebound could mark the beginning of a renewed bullish wave and drive the XRP price toward $2.80 and beyond. This scenario aligns with the broader outlook for XRP, which is still rolling in investor optimism regarding regulatory clarity after a new US presidential administration comes into power in January 2025. Featured image created with Dall.E, chart from Tradingview.com
Since Donald Trump became president-elect a little more than a month ago, roughly $10 billion has flooded into US spot Bitcoin ETFs, showing growing optimism that his administration will support the cryptocurrency industry. According to Bloomberg, a dozen funds from big issuers including BlackRock and Fidelity Investments have received around $9.9 billion in net inflows into their various Bitcoin ETFs since November 5, bringing their total assets to around $113 billion. Trump’s Appointments Signal Shift To Pro-Crypto Regulation Trump’s recent selections, such as a digital asset champion to lead the US Securities and Exchange Commission (SEC) and the creation of a White House czar for artificial intelligence and crypto, indicate a shift toward a more friendly regulatory climate. Notably, Trump has praised the concept of establishing a national Bitcoin reserve, which is gaining bipartisan support in Congress, with pro-crypto Senator Cynthia Lummis at the lead. Related Reading: XRP Skeptic Turned Believer? Critic Hails XRP As Crypto’s Chart King Bitcoin recently surpassed the $100,000 mark for the first time on December 5, trading at around $96,898 as of Monday. The cryptocurrency’s six-week winning streak is the longest since the market frenzy of 2021, but analysts remain concerned about volatility. David Lawant, head of research at crypto premier broker FalconX, noted that a sustained push above the $100,000 milestone will most likely necessitate other positive catalysts, as BTC has struggled to recapture this level while stabilizing after the advance over the last four days. Bitcoin Rally Boosts MicroStrategy And Peers Bloomberg also notes that the positive atmosphere surrounding cryptocurrencies has resulted in a substantial rebound among companies that have followed MicroStrategy’s strategy of selling convertible bonds to fund Bitcoin purchases. MicroStrategy alone sold $6.2 billion in convertibles this year and intends to raise an additional $21 billion through fixed-income offerings. Other companies, including MARA Holdings and Core Scientific, have successfully obtained significant funds to support their Bitcoin acquisitions. MicroStrategy’s stock, MSTR, has risen 73% since Donald Trump’s election, while MARA, Riot Platforms, and Core Scientific’s shares have increased by 63%, 33%, and 30%, respectively. This trend closely resembles Bitcoin’s nearly 40% growth within the same period. With a market capitalization approaching $2 trillion, Bitcoin’s recent ascent has dramatically increased MicroStrategy’s assets, which are now worth more than $41 billion. Related Reading: Dogecoin Price Prediction: Here’s What The 91-Day Pattern Says Could Happen Next The terms of recent crypto-related convertible deals stand out, particularly because many are structured with zero coupons, allowing investors to engage in convertible arbitrage. Despite the high demand for these instruments, there appears to be little anxiety about prospective Bitcoin price decreases. Raj Imteaz, head of convertible and equity derivatives advisory at ICR Capital LLC, noted that larger players in the market feel compelled to issue convertibles to remain competitive. “If your competitor has a large war chest funded at very low coupons and you haven’t tapped the market, you’re at a competitive disadvantage,” he said. “You almost have to issue converts to stay competitive within crypto.” Featured image from DALL-E, chart from TradingView.com
Bitcoin (BTC) closed the week above the $100,000 mark for the first time in history, concluding the crypto’s massive week with another milestone. However, a market watcher has warned investors that historical patterns could soon lead the flagship crypto to a big correction. Related Reading: XRP Slides After Failing To Reclaim $2.9, What’s Next For Bulls? Bitcoin First Weekly Close Above $100,000 Bitcoin hit the $100,000 milestone nearly a week ago, passing the psychological barrier for the first time. After its massive feat, the largest crypto by market capitalization faced its largest retrace since Trump’s victory in the US presidential elections. BTC briefly dropped around 13% to the $90,000 mark in a candle that resembled its performance when it first hit the $10,000 barrier. Since then, the cryptocurrency has hovered between the $97,000-$101,000 prince range, facing some resistance to breaking past the range’s upper zone. As reported by NewsBTC, crypto analyst Jelle noted that BTC could follow the same path as its post-$10,000 milestone trajectory, turning the newly crossed level into support after three days, like it did in November 2017. After hovering between its new range for four days, Bitcoin registered its first daily close above $100,000 on Sunday. This performance also marked its first weekly close above this barrier, displaying a similar weekly performance to the $10,000 candle. Crypto analyst Rekt Capital highlighted that BTC’s daily close above this mark and Monday’s 2.5% pullback is “technically a retest” of this level. However, the ongoing retest is very volatile, and it has been simultaneously attempting to turn the “final major daily resistance,” around the $98,000 zone, into support for the past two days. The analyst added, “a volatile retest like this makes sense, especially weekly.” He explained that the $98,000 level was broken as resistance on the weekly chart after yesterday’s close, meaning that “this week is all about trying to reclaim this level as new support.” Will The Next Few Weeks Be ‘Problematic’ For BTC? Despite breaking past the crucial barrier, Rekt Capital warned investors of BTC’s upcoming week of its post-halving “Parabolic Upside Phase.” The analyst previously explained that Bitcoin enters a parabolic period that lasts around 300 days each cycle after every Halving event. Historically, BTC’s price registers the first major pullback a month after entering price discovery mode. According to the analyst, the first “Price Discovery Correction” historically begins between Weeks 6 and 8 of each parabolic phase, seeing at least 25% retraces. Rekt Capital pointed out that today starts the sixth week of this post-halving upside phase, emphasizing that BTC is the timeframe where its price has retraced significantly. Based on this, Bitcoin’s price could nosedive between 25% and 40% in the next few weeks, like in 2017. Related Reading: Bitcoin Is ‘Highly Likely’ In A Supercycle: Expert Explains Why The analyst warned investors that the current retest of the $98,000 level is key, as failing to hold it could kickstart the first major correction: As a result, over the next 3 weeks or so, I am going to be increasingly cautious about retest attempts, and given BTC’s history at this point in the cycle, I wouldn’t be surprised to see key levels get invalidated. Nonetheless, he stated that “the Second Price Discovery Uptrend will take place after the Price Discovery Correction,” which could propel BTC to a new ATH. At the time of writing, Bitcoin is trading at $98,073, a 2% drop in the last 24 hours. Featured Image from Unsplash.com, Chart from TradingView.com
The Dogecoin price shows signs of continued bullish momentum, as a crypto analyst has predicted a potential breakout towards the $0.74 all-time high. This significant price surge is expected to occur following the meme coin’s consolidation phase, which began after its recent rally above the $0.4 level. Dogecoin Price Eyes $0.74 ATH Rally A recent […]
Crypto analyst Master Kenobi has again alluded to the 91-day pattern to provide insights into where the Dogecoin price could be headed next. The analyst suggested that things could turn out differently for DOGE as its price action hasn’t exactly followed this historical pattern. What Next For The Dogecoin Price In an X post, Master Kenobi suggested that the 91-day sequence scenario may have been invalidated for the Dogecoin price. He explained that the chart had only touched the green trendline and failed to break through the yellow or orange trendline. This green trendline is at $0.46, which the DOGE price touched last week. Related Reading: Bitcoin Price Bull Run: Analyst Reveals Why BTC Will Hit Its Top A Month From Now Below $150,000 However, the Dogecoin price failed to touch the yellow or orange trendline, which is at around $2 and $4, respectively. Before now, the crypto analyst predicted that Dogecoin could break above $1 and at least touch $2 this month as this 91-day pattern gets completed. Meanwhile, Master Kenobi also explained why Dogecoin closing last week in the green is significant. The crypto analyst noted that the weekly close in the green marks the eighth consecutive green week for the Dogecoin price, marking the second time this has happened. Statistically, Master Kenobi opined that this is not the most favorable configuration for the DOGE price, suggesting that the foremost meme coin might be in uncharted waters. However, based on Master Kenobi’s earlier Dogecoin price update, DOGE recording its eighth consecutive green week is something to keep an eye on. The last time this happened was during the final stage of the 2017 bull market, with a rally that began in November and ended in January with a 1,750% price increase during that period. Therefore, if history were to repeat itself, the Dogecoin price could still record massive gains ahead. In November, DOGE recorded a price gain of 161%, providing a bullish outlook for the foremost meme coin. Meanwhile, the December candle is currently green, although DOGE has yet to come close to its November gains. DOGE Is Far From A Price Breakout Crypto analyst Kevin Capital has asserted that the Dogecoin price is still far from a breakout. He made this statement while revealing that DOGE is currently at the macro golden pocket with 0.703 and 0.786 right above, stretching to $0.60. Related Reading: Technical Analysis Puts XRP Price Above $5 In Next 3 Days, Whales Buy $288 Worth Of XRP In line with this, the crypto analyst remarked that anything price action below $0.60 should be treated with major caution as Dogecoin is far from a breakout of any kind. Kevin also called for market analysts to stop with the endless euphoria as the Dogecoin price is nowhere near the level at which a breakout can be expected. At the time of writing, the Dogecoin price is trading at around $0.44, down almost 4% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Technical analysis shows that the Dogecoin price is still on track to reach new all-time highs this bull cycle, especially with history pointing to similar bullish scenarios that have played out before. By analyzing historical cycles on Dogecoin’s monthly chart, patterns emerge that suggest a possible path toward the much-anticipated $10 milestone. Notably, these observations […]
The PEPE price recently reached a new all-time high (ATH) of $0.00002716, becoming the first major meme cryptocurrency to do so in the ongoing bull cycle. This rally to a new PEPE all-time high was driven by increased whale activity and accumulation. Whale Accumulation Fuels PEPE’s Bullish Momentum Data shared by crypto analyst Ali Martinez on social media platform X highlights that PEPE whales recently added $1.14 billion in PEPE to their holdings, pushing the total whale-controlled amount to $7.56 billion. This plays into a bullish run over the weekend, which saw PEPE’s market cap surpass $10 billion for the first time. At the time of writing, PEPE has a market cap of about $11.17 billion, meaning this holder cohort now controls about 67% of the total market cap. Related Reading: Technical Analysis Puts XRP Price Above $5 In Next 3 Days, Whales Buy $288 Worth Of XRP Interestingly, on-chain data shows the surge in whale accumulation didn’t just start yesterday. IntoTheBlock’s Balance By Holdings In USD metric shows a 30-day increase of 147.81% in the holdings of addresses holding more than $10 million worth of PEPE tokens. These large holders have been on an accumulation trend, with a massive $1.14 billion purchase coming in on December 7 alone. Other holder cohorts have also significantly expanded their positions over the past month. Addresses holding between $1 million and $10 million worth of PEPE recorded a 119% increase in their holdings during this period, while those holding between $100,000 and $1 million saw a 108% rise. Mid-tier investors with holdings between $10,000 and $100,000 registered an 84.25% growth in their balances, while even smaller holders with $1,000 to $10,000 worth of PEPE saw their holdings increase by 55.29%. This increase in accumulation from all cohorts has increased the buying pressure on PEPE, which in turn has allowed the meme cryptocurrency to surge in value by 150% in the past 30 days. Exchange Listings And Accessibility Boost PEPE’s Popularity Another notable driver behind PEPE’s record-breaking performance is its growing accessibility after listing on major crypto exchanges. PEPE has been added to crypto exchanges like Coinbase, Robinhood, and Binance US in the past few days, which has significantly increased its exposure to retail and institutional investors in the US These listings have made it easier for a broader audience to trade and invest in the meme cryptocurrency. Related Reading: Ethereum Price Breakout: Charting The Uncertain Part Of ETH To $18,000 The impact of these listings has been profound, especially as the industry is currently in a bull phase. At the time of writing, PEPE is trading at $0.00002616, representing a 3.5% increase in the past 24 hours. PEPE’s bullish trajectory appears set to extend further as whale and retail accumulation continues. Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst Tony Severino has revealed that the Bitcoin price bull run could end as soon as January 2025. The analyst further projected that BTC will top below $150,000 as its bull run ends by next month. Bitcoin Price Could Top By January 2025 Below $150,000 In an X post, Tony Severino reaffirmed his theory that the Bitcoin price could top as soon as January 20, 2025. He shared an accompanying chart showing that BTC follows a textbook example of a “complete” market cycle. The chart showed that Bitcoin could top below $150,000 as it reaches the market top next month. Related Reading: Technical Analysis Puts XRP Price Above $5 In Next 3 Days, Whales Buy $288 Worth Of XRP The chart shows that the Bitcoin price is on the last leg of this market cycle’s motive wave. Once this motive wave is done, possibly as soon as January 2025, the corrective wave of this market cycle will begin. This wave, which ushers in the bear market, could last until mid-2027 and cause BTC to retrace to as low as $50,000. Donald Trump’s Pro-Crypto Moves May Already Be Priced In In a detailed blog post, Tony Severino provided more insights on why the Bitcoin price bull run could top this early. He noted that Donald Trump’s victory in the US presidential elections is the narrative that has caused a market-wide takeoff. Thanks to his pro-crypto stance, BTC broke out of a resistance level the night he was declared the winner and has since rallied to $100,000. Related Reading: Ethereum Price Breaks Above Massive Triangle – Next Target: $10,000 However, Severino remarked that Trump’s pro-crypto world is the new paradigm this time around. He acknowledged that market participants cannot envisage a world where the Bitcoin price doesn’t rise much higher, considering that the president-elect has promised to create a Strategic Bitcoin Reserve, which could create a lot of FOMO among other nation-states. However, the crypto analyst asked market participants to consider the fact that the Efficient Market Hypothesis says that the market is forward-looking and prices in all information the moment it is available. Severino believes that BTC could have already priced into Trump’s pro-crypto moves. If so, he predicts this “new paradigm” could create the perfect atmosphere of euphoria and a cyclical peak when Trump finally takes office. In other words, Donald Trump’s inauguration could mark the top for the Bitcoin price bull run, and the corrective wave could begin as soon as he takes office. The Last Two ‘New Paradigm’ Became Cycle Peaks Tony Severino alluded to what happened the last two times the term “new paradigm” was regularly used. According to him, those events became the cyclical peaks for the Bitcoin price. First, he noted that when CME Futures were about to launch, many expected that the fact that institutions could have exposure to BTC would bring a lot of capital. However, that wasn’t the case, as it kicked off a bear market instead. The same thing happened with Coinbase going public, sparking optimism that the Bitcoin price could easily cruise to $100,000. However, that wasn’t the case, as that event marked the cyclical peak for the Bitcoin price bull run. At the time of writing, the Bitcoin price is trading at around $99,200, down in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com