Not many in the industry anticipated the Bitcoin crash last week or how far it will eventually go. However, crypto analyst Ali Martinez is one of the analysts who expected another crash, and had seemingly managed to predict where the price would eventually bottom. Following his correct prediction, Martinez has now revealed where he expects […]
A crypto analyst has maintained a bullish outlook on Bitcoin (BTC), the world’s largest cryptocurrency, predicting massive rallies in the future. The analyst projects that Bitcoin could rise as fast as it fell, mirroring the speed of its crash as it regains all the value shed during its decline. Bitcoin Set For Rapid Recovery In an X (formerly Twitter) post on August 6, a crypto analyst identified as ‘The Crypto Dog’ has shared an optimistic forecast on the future outlook of Bitcoin. The analyst believes that Bitcoin may recover quickly from its recent market declines, highlighting that the pioneer cryptocurrency would regain its lost ground at a pace as swift as its previous crash. Related Reading: Dogecoin Bounces Off Key Support Following Crash Below $0.1 The analyst’s bullish outlook on Bitcoin’s price comes after the cryptocurrency quickly rebounded from its former lows and maintained a crucial support level around the $54,000 price mark. Bitcoin’s resilience at maintaining a price above the $54,000 level could be a possible bullish signal, considering the cryptocurrency fell drastically below $50,000 in the previous weeks. In recent days, Bitcoin has shown remarkable strength after witnessing a crash that led to more than 20% of its value wiped. Despite the substantial price decline, the cryptocurrency appears to be on a major recovery trend, steadily approaching the $60,000 point once again. Earlier this year, Bitcoin rapidly rose to an all time high above $73,000, driven by the approval and launch of Spot Bitcoin ETFs. Following this rally to a new ATH, Bitcoin underwent its cyclic halving event which at the time was considered a bullish event that could propel the price of the cryptocurrency even higher. Despite analysts’ bullish projections of Bitcoin during this bullish cycle, the cryptocurrency has faced major liquidations, driving its price down to new lows. Nonetheless, whales continue to buy Bitcoin at a rapid pace, taking advantage of the lower prices and accumulating over 30,000 BTC worth about $1.62 million. Analyst Says Now Is The Best Time To Buy BTC A crypto analyst, identified as ‘the on-chain college’ has highlighted the most opportune time to invest in Bitcoin. The analyst suggests that if investors expect Bitcoin to rally to new highs within the next 6 to 12 months, now could be the perfect time to buy the cryptocurrency. Related Reading: Cardano Price Crash Below $0.3: Is It Time For You To Buy ADA? Sharing a chart of Bitcoin’s price movements, the analyst mentions the Mayer Multiple, a unique metric that compares Bitcoin’s current price to its 200-day moving average. He disclosed that Bitcoin’s Mayer Multiple is currently at its lowest level since the bottom of the 2022 bear market. This implies that a low Mayer Multiple indicates that Bitcoin is undervalued, making it a potentially good opportunity to buy the cryptocurrency. At the time of writing, the price of Bitcoin is trading at $57,241, marking a 10.89% decrease over the past seven days, according to CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst CrediBULL Crypto provided a market analysis on Pepe (PEPE), Ethereum (ETH), and XRP. Based on his analysis, PEPE could hit a new high soon enough, seeing how it has ranged since hitting a new all-time high (ATH) in May. A Price Rally For PEPE On The Horizon CrediBULL Crypto mentioned in an X […]
The Dogecoin price reaching double-digits remains a dream for its die-hard community, despite the meme coin failing to claim $1 even till now. Nevertheless, expectations that Dogecoin will eventually cross $10 remain high as one analyst has given reasons why the largest meme coin by market cap is set to surge by more than 7,200%. Dogecoin To Stage A Log Breakout Crypto analyst Javon Marks took to X (formerly Twitter) to share an interesting development on the Dogecoin chart. Marks points out that a Log Breakout could be on the horizon for the meme coin, which could lead to a massive surge in price. Related Reading: Hedge Fund Manager Says Bitcoin Price Will Reach $428,000 If This Happens The reason for the analyst’s optimism toward the Log Breakout are what transpired for Dogecoin the previous two times that it has appeared. The first time this Log Breakout was completed for DOGE was back in the 2017-2018 bull market. This resulted in a 9,472% price increase, taking Dogecoin from a low of $0.0002 to a high of $0.01858. Then again, in the 2020-2021 bull market, Dogecoin would undergo another Log Breakout, this time leading to an even more prominent rally than before. This was the legendary 28,882% rally of 2021 when the DOGE price went from $0.0012 to almost $0.74. Given this historical performance and taking into account that breakouts like these often rhyme with their previous appearances, the crypto analyst believes that the Dogecoin price is set to undergo another major rally soon. How Far Can DOGE Rise? In his analysis, Marks presents his own expectations for the Dogecoin price should the Log Breakout be completed. According to the chart shared in the X post, Marks expects an at least 7,200% increase in the DOGE price from the current level. This would put the meme coin above $10 for the first time in history. Related Reading: This PEPE Holder Cohort Is The Reason Price Is Struggling To Reclaim $0.00002 The crypto analyst explains that each Log Breakout has led to a larger rally than the last, so this could mean that the DOGE price could rally higher. However, with the Dogecoin market cap already so large, such immense rallies could be hard-fought from here. In addition to Dogecoin, Shiba Inu is another meme coin that the crypto analyst is bullish on. In an earlier analysis, Marks pointed out that the second-largest meme coin by market cap had confirmed a macro Hidden Bullish Divergence. Given this, he expects that the Shiba Inu price could rise 354% from its current level to reach its all-time high levels around $0.000081. Featured image created with Dall.E, chart from Tradingview.com
Two market experts recently revised their predictions for Ethereum, with one claiming that the second-largest crypto token could rise to as high as $100,000. Interestingly, these ultra-bullish predictions align with some predictions made by financial institutions. Ethereum To Rise To $50,000 Ethereum maximalist Adriano Feria predicted in an X (formerly Twitter) post that Ethereum could reach $50,000 in this market cycle. He made this bold prediction in response to Ethereum developer Eric Conner’s prediction that ETH will reach $35,000 this cycle. Conner had initially predicted that ETH would rise above $20,000 in this bull run but eventually revised his price target because of the “ETH hate” he was receiving following his prediction. Related Reading: This PEPE Holder Cohort Is The Reason Price Is Struggling To Reclaim $0.00002 Meanwhile, Feria followed Conner’s footsteps and upped his ETH price target, predicting the crypto token to reach $100,000. He explained that the hate ETH was getting made him realize that “99% of the people in the world are completely sidelined, and institutions have barely gotten their feet wet.” Feria added that those holding ETH are truly the “world’s elite” because ETH’s bull case should send the crypto token to $100,000. The analyst suggested that Ethereum has yet to enjoy mainstream adoption, and it could send its price to the $100,000 target when that happens. This includes the entry of institutional investors into the Ethereum ecosystem, which is already happening thanks to the Spot Ethereum ETFs. Feria is also confident in his prediction and remarked that he wasn’t joking. He noted that some financial institutions have come up with bull targets close to his price target of $100,000. One of the financial institutions that the analyst might have been referring to includes VanEck, which gave a bull case price target of $154,000 for ETH by 2030. Why ETH Rising To $50,000 Is Possible Crypto investor Jesse Eckel recently made a bullish case for Ethereum, explaining why Ethereum will not only reach but surpass the $50,000 price target. He alluded to VanEck’s prediction that Bitcoin can reach $52 million by 2050. He claimed that ETH is “objectively better money than BTC, ” meaning that the former could easily attain unprecedented heights since VanEck predicts that the flagship crypto will be worth millions of dollars. Related Reading: Hedge Fund Manager Says Bitcoin Price Will Reach $428,000 If This Happens Eckel further remarked that Ethereum is currently the “backbone” of onchain finance. He claimed that ETH would “continue to grow as a legitimate form of money” as everything becomes tokenized and trillions of dollars move onchain. The investors also noted how almost every layer-2 network launches under the Ethereum ecosystem. With such massive adoption on the horizon for ETH, Eckel predicts that Ethereum can even rise to as high as $23 million based on VanEck’s prediction for Bitcoin. At the time of writing, Ethereum is trading at around $3,170, down over 4%, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
The Elliot Wave theory has become very popular among Bitcoin analysts, given its effectiveness in helping to estimate where the cryptocurrency’s price is headed next. Using this same theory, pseudonymous crypto analyst XForceGlobal has estimated what could happen next for the Bitcoin price. Elliot Wave Theory Points To A Recovery In the analysis posted on TradingView, XForceGlobal used the 5-wave Elliot Wave theory to predict further upside for the Bitcoin price. The chart maps out the waves and subwaves, all of which carry various implications for the Bitcoin price. Related Reading: Institutional Investors Show Interest In Cardano, Triggering 300% Surge The crypto analyst points out that the subwaves are currently in play, ranging from 1-5. So far, subwaves 1 and 2 have finished their run, and with subwave 3, the analyst expects the price to continue to rise as this wave forms. The Bitcoin price being caught in Wave 3 is actually good for the price from here, given that the third wave is known to be bullish. It is also a long wave, meaning that its effects will last longer than that of bearish wave 2, although shorter than Wave 1. However, instead of just being a straight shot for the Bitcoin price, the crypto analyst warns that it could end up being an ABC wave, which is inherently bearish for price. In this case, the Bitcoin price would rise and then decline. Bitcoin Targets Going Forward As mentioned above, the Bitcoin price being caught in the subwave 3 is bullish, meaning the price could surge further from here. According to the crypto analyst’s chart, a 100% move from here is possible, putting the BTC price as high as $126,000. However, the next wave, Subwave 4, is very bearish and the analyst predicts a major crash. They put the target as low as $39,728, which is an over 60% decline from the $126,976 price target from subwave 3, which would mark the most notable drawdown in the Bitcoin price since 2022. Related Reading: Brace For Impact: Ethereum Whales Send Over $205 Million To Coinbase The next wave, Subwave 5, is then expected to continue the bullish narrative, triggering an over 200% rise from the lows from subwave 4. It is expected to peak at around $153,000, marking the completion of the five subwaves. Despite the bullish scenarios mapped out, the crypto analyst warns that “while the evidence strongly suggests that Bitcoin will reach higher levels before any significant correction, it is crucial to remain adaptable as market conditions evolve.” They further added: “No theory can predict market movements with absolute certainty. By staying informed and considering multiple scenarios, investors can better navigate the complexities of the cryptocurrency market.” Featured image created with Dall.E, chart from Tradingview.com
The Bitcoin price has been expected to hit the 6-figure mark for a couple of years now, but this target continues to be elusive for the cryptocurrency. However, with a crypto bull run predicted by experts to be around the corner, the expectations for a 6-figure Bitcoin price have emerged once again. One crypto analyst […]
Today, the Render Network finalized its RENDER crypto AI token migration and upgrade. Following the highly anticipated rebrand, the AI token saw a positive price action, surging over 15% on the last day. Investors and market watchers expressed optimism about the rebranded token and consider it could hit $10 soon. Related Reading: Ethereum Targets Recovery: Can It Mirror Bitcoin’s Performance? From RNDR To RENDER Last year, the Render Network Foundation changed from Ethereum (ETH), where it was initially launched, to Solana (SOL). The move followed a community vote that passed two major upgrades for the Network. According to the announcement, the Solana switch was “proposed for faster transactions, cheaper fees, and the project’s needs to achieve more ambitious goals with more on-chain data and transactions.” The community also voted to rebrand the token from RNDR to RENDER, which would conclude in 2024. This month, the foundation informed users that many crypto exchanges, including Binance, Kraken, OKX, Crypto.com, and KuCoin, would automatically swap the RNDR tokens for the rebranded token on a 1:1 ratio. On Monday, the RNDR delisting from crypto exchanges began ahead of the scheduled migration on July 26. Exchanges halted most operations with the token, negatively impacting its performance over the week. Moreover, Whales seemingly contributed to the impact of the token’s price. Online reports revealed that some major holders sold their RNDR following the news, dragging the price from above the $7 support level to below the $6.5 price range. The token continued to plunge in the following days, dropping below the $6 mark, a 17% drop in four days. Nonetheless, the highly anticipated migration and listing of the new RENDER token seems to have kickstarted a price recovery. AI Token Skyrockets 17% Following Binance Listing The newly rebranded crypto AI token surged over 17% today after being listed by crypto exchange Binance. On Friday, the exchange announced that RENDER had been added to Binance Simple Earn, Buy Crypto, and Binance Convert. Additionally, it revealed that the Binance Margin and Futures options would be available today for the AI token. Meanwhile, the Auto-Invest option will be added on Monday, July 29. On that date, Kraken, the crypto exchange, will also list the RENDER and delist the RNDR. Investors and market watchers expressed their optimism over the rebrand and Binance listing. An X user claimed that, as the project begins this new era, “the RENDER token with this fresh chart of around $6.5 lows has potential to reach unimaginable heights.” Crypto analyst Coinboss considers that the token could “do a flipperino” if it has a clean break out above the $7 resistance level. A successful retest of the target could potentially lead the token to reclaim the $11 mark, further fueling a surge above RNDR’s all-time high (ATH) of $13.53. Another pseudonym crypto analyst believes RENDER could reach $10 soon, stating, “Thanks for the fud. See you above $10.” Some users also consider that investors will regret not getting the “greatest buying opportunity.” Related Reading: Solana’s Celebrity Tokens Down 94%, MOTHER Community Defends The Memecoin In the last 24 hours, the crypto AI token has seen a remarkable 140% surge in market activity, with $83.1 million daily trading volume. As of this writing, RENDER is trading at $6.89, a 15.6% rise in the past day. Featured Image from Unsplash.com, Chart from TradingView.com
A crypto analyst has predicted that Bitcoin (BTC), the world’s largest cryptocurrency, is on track to reach an unprecedented $263,000. However, he also emphasized that this bullish surge to new all-time highs is contingent on Bitcoin meeting specific market conditions. Bitcoin Set For Massive Rally To $263,000 In an X (formerly Twitter) post on July 23, a crypto analyst identified as ‘Trader Tardigrade’ revealed that Bitcoin’s current price chart was forming a key technical pattern known as the “Cup with Handle chart pattern.” Notably, the Cup with Handle pattern is a unique technical indicator where the price movement of a cryptocurrency typically resembles a cup, followed by a downward price trend which emulates a handle. This handle often signifies a buying opportunity to go long on the asset. Related Reading: Polygon Network Active Addresses Just Hit A New Yearly High, But Why Is MATIC Price Down? Sharing a price chart illustrating Bitcoin’s Cup with Handle pattern, Trader Tardigrade noted that Bitcoin could witness a substantial rally to a measured target of $263,000 before the end of 2024. The analyst disclosed that for this bullish surge to happen, Bitcoin’s price will have to break above the $68,000 level, which represents the handle part of the Cup with Handle chart pattern. In a more recent X post, the crypto analyst revealed that Bitcoin’s price has reached the upper resistance of the descending channel pattern. This pattern signifies when the price of a cryptocurrency is moving within two parallel trend lines and sloping downwards. Typically, the upper trend line in this pattern acts like a resistance and the lower line acts as a support. The analyst further noted that Bitcoin’s price has successfully reached the upper resistance of the descending channel. However, he disclosed that the resistance was weaker than the lower support, making it easier for the cryptocurrency to potentially breakthrough. Trader Tardigrade also predicts that Bitcoin could undergo a brief period of consolidation before witnessing its next breakout move. The analyst declared that the market was currently in the middle of a bull run, with Bitcoin set to surge even higher until late 2025. Key Support Level Identified For Bitcoin’s Next ATH Bitcoin’s price is currently trading at $64,239, marking a slight decrease of 3.11% in the last 24 hours, according to CoinMarketCap. Despite the cryptocurrency’s struggles to reach new highs, Ali Martinez, a prominent crypto analyst, remains bullish on its future outlook. Related Reading: Machine Learning Algorithm Predicts Shiba Inu Price Will Rise 119% In 5 Days Sharing a price chart depicting Bitcoin’s UTXO realized price distribution (URPD), Martinez predicted that BTC is poised to surge to new all time highs soon. The analyst also disclosed that the $66,000 price mark was a crucial support level for Bitcoin. He added that if Bitcoin succeeds in holding a price level at $66,000, it would set a strong foundation for a potential rally to new levels. Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst Javon Marks has reaffirmed his ultra-bullish prediction for XRP in his latest analysis. The analyst explained why the crypto token will still rise to as high as $150 in this bull run. Why XRP Is Still On Course To Reach $150 Marks mentioned in an X (formerly Twitter) post that XRP looks right on the brink of a “massive bullish breakout,” having recently tested one. He claimed that XRP could successfully achieve this bullish breakout with such continued market strength. He added that this successful breakout and a Full Logarithmic Follow-Through would allow the crypto token to enjoy a price rally of over 41,400% and reach and even climb above $150. Related Reading: Don’t Get Shaken Out, Analyst Says Bitcoin And Altcoins Rally Is Just Starting Marks has continued to predict that XRP can reach such heights for a while based on his Full Logarithmic Follow-Through analysis. Before now, he mentioned that XRP could rise to as high as $200 and noted that such a parabolic rally was indeed possible for the crypto token since it has done it before during the 2017 bull run. Marks has also received support from other analysts like CryptoBull, who have predicted that XRP will rise to triple digits. CryptoBull once predicted that the crypto token could rise to $154 based on an ascending broadening wedge, which he expects XRP to break out from soon enough. Crypto analyst JackTheRippler also predicted that XRP will rise to triple digits when the US Securities and Exchange Commission’s (SEC) lawsuit against Ripple ends. In a more recent analysis, JackTheRippler asserted that a new all-time high (ATH) was on the horizon. He stated that XRP’s multi-year bullish pattern is ending and suggested that it won’t be long before the crypto token enjoys that rally that will see it surpass its current ATH. The crypto analyst is also bullish on XRP because he believes the case between the SEC and Ripple is about to end. About To Break Out Of Six-Year Consolidation Triangle Crypto analyst Mikybull Crypto also recently offered a bullish narrative for XRP, stating that the crypto token is about to break out of the six-year consolidation triangle. The analyst claimed the breakout will be “massive,” followed by a “long sustained enormous rally.” He hinted at his plans to invest in XRP, remarking that he won’t be sidelined for the upcoming move. Mikybull Crypto previously mentioned that XRP might replicate its 2017 rally, considering its current price action path. He stated that the crypto token could rise above $4 if it follows a similar path to 2017. Related Reading: Polygon Network Active Addresses Just Hit A New Yearly High, But Why Is MATIC Price Down? Meanwhile, crypto analyst Alex Clay also echoed a sentiment similar to Mikybull Crypto, stating that XRP is breaking out of a symmetrical triangle that it has been consolidating inside for about 2,275 days. The analyst expects XRP to rise to between $1.2 and $1.5 in the mid-term, while he predicts that the crypto token could rise to $3 in the long term. Featured image created with Dall.E, chart from Tradingview.com
Bitcoin started the new week in an uptrend, signaling a return of bullish sentiment among crypto investors. This bullish sentiment has continued to propel the price forward with $70,000 remaining the major target from here. According to one analyst, this recovery signals an entrance into the final wave, which is Wave 5, that could send the BTC price back toward its ATH price. Analyst Says Bitcoin Price Could Hit $72,000 In a TradingView post, crypto analyst Arthur Signals shared an interesting analysis of the Bitcoin price, saying that the cryptocurrency has entered the final Wave 5. The analysis goes through the BTC performance in the month of July, identifying the start of Wave 1 when the price first surged from its lows below $54,000. Related Reading: Polygon Network Active Addresses Just Hit A New Yearly High, But Why Is MATIC Price Down? Moving forward, Wave 2 happened with the crash back down from $60,000 to $56,000. Wave 3 followed right after with an increase above $65,000, while Wave 4 was the decline to $63,000 that was recorded over the weekend. The current leaves only Wave 5, which is usually the most bullish of all the waves. With this final wave, the crypto analyst expects the price of Bitcoin to eventually break above $70,000 and rise toward its current all-time high of $73,000. However, for the BTC price to properly complete this move, it has to break the $68,275 peak that was recorded on Sunday. From here, the Bitcoin price would need to create a new peak to confirm the breakout, which has a $72,000 target from the crypto analyst. World Events That Could Send The BTC Price Flying While the wave formations on the Bitcoin chart paint a bullish picture for the price, there are also other developments that are bullish for the price, and one of those is the US presidential elections. On Sunday, incumbent president Joe Biden announced that he was stepping down from the race, giving his support to Vice President Kamala Harris to run on the Democratic ticket. Related Reading: Solana Leads Crypto Rally As Expectations For A Break Above $200 Grow This development has so far been bullish as the market now expects a victory for Donald Trump, who has been openly vocal about his support for cryptocurrencies. “Biden’s announcement, after some unexpected volatility, has given Bitcoin bullish momentum as the market strengthens its confidence in a Republican election victory,” Arthur Signals pointed out in the post. If Trump does emerge victorious in the election, which is scheduled to be held in November, it will be a positive development for crypto. Trump has declared support for Bitcoin, hinting at using it for treasure purposes. This, in addition to rumors that Trump is considering BlackRock CEO Larry Fink as Treasury Secretary, has sparked bullish expectations for Bitcoin this year. Featured image created with Dall.E, chart from Tradingview.com
A crypto analyst has predicted that Solana (SOL) is set to rally by 1,000% this bullish cycle. According to his analysis, SOL is preparing for a mega surge to new all time highs of $1,800. Solana Sets Sight On $1,800 Price Increase In a recent X (formerly Twitter) post, Ali Martinez, a prominent cryptocurrency analyst, expressed bullish sentiment regarding Solana’s future price outlook. According to Martinez, Solana is poised for a significant price surge, potentially reaching an impressive $1,000, marking new all-time highs. Related Reading: Here’s Why The Bitcoin Price Crashed Below $66,000, Taking Shiba Inu And Dogecoin With It The crypto analyst’s optimistic forecast for Solana is rooted in the cryptocurrency’s recent price movements. Sharing a price chart illustrating SOL’s price action from late 2023 to the end of 2024, Martinez predicted a maximum bullish surge to $1,800 for the altcoin. The analyst also based his bullish projections on early signs of an identified technical bull pennant pattern in Solana’s price chart. A bull pennant is a continuation pattern that often signals the extension of continuation of an upward trend after a period of consolidation. For Solana, this unique pattern suggests that SOL may be gearing up for a substantial bullish breakout this year. In accordance with his analysis, Martinez foresees Solana experiencing a whopping 900% rally by the end of 2024. This price surge would signal a major milestone for the cryptocurrency, considering Solana has only been able to rise as high as $259.96 in 2021. While Martinez has maintained a bullish stance on Solana’s price outlook, the analyst also cautioned that his projected surge will not happen instantly. He disclosed that the flagpole for the bull pennant pattern took about 184 days to form, during which Solana climbed from an initial price of $11 to $192. Given this gradual price progression, Martinez revealed that there will be multiple corrections or temporary price dips for SOL along its path to its $1,000 price target. One of the said corrections is expected at the breakout point of $167, suggesting that Solana may drop to this level before it can reach new highs. After this slight correction, SOL is expected to continue on a bullish upward trajectory, potentially reaching $1,000 in due time. SOL Price Analysis Solana has been on a bullish trend over the past month, steadily approaching the $200 price mark. The cryptocurrency has witnessed substantial gains, recording an increase of approximately 14.71% in the last seven days, according to CoinMarketCap. Related Reading: Will Bitcoin Reach A New All-Time High? Crypto Analyst Reveals Why $90,000 Is Possible At the time of writing, SOL price is trading at $177.56, underscoring the cryptocurrency’s strong fundamentals amidst market volatility. In a more recent X post, Martinez disclosed that Solana’s TD sequential is now presenting a buy signal on the hourly chart. According to the indicator, this suggests that it might be a good time to purchase Solana, as the price is expected to increase soon. Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst RLinda has made a bullish case for Bitcoin, suggesting that the flagship crypto could soon hit a new all-time high (ATH). She also provided reasons why Bitcoin could rise to as high as $90,000. Why Bitcoin Could Rise To As High As $90,000 RLinda mentioned in a post on TradingView that fundamental and technical preconditions support further price growth for Bitcoin, which could send its price to as high as $90,000. On the Fundamental side, she noted that the market is waiting for the Spot Ethereum ETFs launch, which would be “another positive lever for the cryptocurrency market.” Related Reading: Solana Leads Crypto Rally As Expectations For A Break Above $200 Grow Furthermore, RLinda stated that Donald Trump, who already affirmed his support for cryptocurrencies, is increasing his chances of being reelected. According to her, the market will react positively if he eventually wins. The crypto analyst highlighted “other local nuances” that could propel Bitcoin to such heights. She noted that other high-ranking US politicians are reconsidering their stance on Bitcoin, and the US Securities and Exchange Commission (SEC) is also “smoothly changing its position on cryptocurrencies.” This includes SEC Commissioner Hester Peirce’s recent statement that the Commission is open to reconsidering the inclusion of staking plans for the Spot Ethereum ETFs. BTC From A Technical Perspective On the technical side, RLinda revealed that a classic bullish flag pattern is forming on Bitcoin’s daily chart. She further remarked that at the moment, there is a “high probability” of Bitcoin retesting the strong resistance at $71,700 or even going higher to restest its current ATH of $73,794. She added that only after Bitcoin retests these zones will it become possible for the flagship crypto to “follow the formation of prerequisites for the breakout of global resistance” at $73,800. RLinda mentioned that $67,250 and $71,750 are resistance levels that Bitcoin should look to break. Meanwhile, $63,800 and $59,300 are support levels that the flagship must remain above. Related Reading: Crypto Market Rebounds From Lows, But Why Are Cardano Holders Suffering Losses? Furthermore, RLinda revealed that Bitcoin’s current price range is favorable for a resistance breakout, which she claimed will “open a new way to the nearest resistance.” In the short term, she expects Bitcoin to break out from the $67,250 resistance level and experience further growth to between $71,700 and $73,800. With Bitcoin already retesting the $67,250 resistance level, RLinda provided an update on her trade idea. She highlighted a cup-and-handle pattern on Bitcoin’s weekly timeframe. The crypto analyst stated that this bullish pattern is in the last stage of “its formation before realization.” From the chart she shared, this cup-and-handle formation supports a potential price surge to $90,000 for Bitcoin. At the time of writing, Bitcoin is trading at around $67,300, up almost 1% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
The crypto market is again all shades of green, with Bitcoin and altcoins enjoying significant rallies. Crypto analyst Capo of Crypto has provided further optimism, suggesting that these tokens will still make more massive moves to the upside. “The Best Is Yet To Come” For Bitcoin Capo of Crypto opined in an X (formerly Twitter) post that the “best is yet to come” for Bitcoin and altcoins. He noted that Bitcoin is pumping, having reclaimed the $60,000 range as support. The crypto analyst added that altcoins also seem to have found their local bottom, meaning they are well-primed for massive rallies to the upside. Related Reading: Crypto Market Rebounds From Lows, But Why Are Cardano Holders Suffering Losses? With Bitcoin also back above $65,000, it seems that it is just a matter of when and not if before the flagship crypto reclaims the $70,000 range. Capo had previously mentioned that reclaiming the $65,000 level would be the next bullish confirmation for the flagship crypto. The analyst added that the market should expect high prices once that happens. As to how Bitcoin could rise, Capo stated that the main target would be the liquidity zone between $74,000 and $76,000. Bitcoin rising to these price levels would mark a new all-time high (ATH) for the flagship crypto. Crypto analyst Rekt Capital shared a similar sentiment with Capo, suggesting that Bitcoin’s successful retest of the $65,000 resistance level would send it back above $70,000. Bitcoin rising back above $70,000 is believed to be where the real fun begins, as crypto analysts like Michael van de Poppe had previously mentioned that the bull run will continue once the flagship crypto is back above this price level. Crypto analyst Crypto Kaleo had also recently advised market participants not to get shaken out. He stated that the market is still heading “way higher” and that a little more patience is needed before the “fun really starts.” “Huge” Altcoin Season Is Brewing Crypto analyst Mkybull Crypto stated in an X post that a huge altcoin season is brewing. He claimed that this cycle might be similar to the explosive altcoin season rally in 2017, as altcoins’ current price action shares a similar price action to that period. Mikyull Crypto added that the fakeout made many believe the altcoin season for this cycle had been written off but suggested that isn’t the case, as something similar happened in the 2016 post-halving cycle. Related Reading: CBOE Global Markets Lists Spot Ethereum ETFs, Confirms Launch Date Interstingly, Capo stated that he is most bullish on altcoins. He alluded to the Spot Ethereum ETFs, which are expected to begin trading this week. Crypto analysts predict that these funds could spark a massive rally for Ethereum and altcoins, by extension, which could help usher in the altcoin season as they outperform Bitcoin. Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst Crypto Kaleo has explained why he believes Bitcoin will continue outperforming Ethereum in the short term. He made this assertion based on his belief that the Spot Ethereum ETFs will not instantly have the impact that many expect it to have on ETH’s price. Bitcoin Will Continue To Outperform Ethereum For Now Crypto […]
Crypto analyst Rekt Capital has provided insights into the Bitcoin future trajectory. Based on his analysis, the flagship crypto might not yet be ready for its next leg up, which could see it climb back above $70,000. Bitcoin Not Yet Ready To Establish $65,000 As New Support Rekt Capital claimed in an X (formerly Twitter) post that Bitcoin is not quite ready just yet for a successful retest of the $65,000 level as new support. For the crypto to establish $65,000 as the new support level, the analyst stated that it would need a similar restest like the one which happened sometime in May earlier this year. According to Rekt Capital, this will confirm a break back into the $65,000 to $71,500 region. Related Reading: PEPE Explosion Imminent: Analyst Predicts Price Will Rocket To $0.00004128 ATH Bitcoin establishing $65,000 is crucial as that will also confirm that the downtrend is over as the flagship crypto still risks dropping to the $60,000 range while still below $65,000. Meanwhile, as Rekt Capital noted, Bitcoin holding above the $65,000 support would mean that it is ready to revisit its previous top above $70,000. Bitcoin rising above $70,000 and reaching as high as $71,500 will inspire confidence among investors that the bull run is well underway again. Crypto expert Michael van de Poppe had before now highlighted the $70,000 range as the level for Bitcoin to beat in order to surpass its current all-time high (ATH) of $73,750. Crypto analyst Altcoin Sherpa also recently highlighted three scenarios that could play out for Bitcoin from its current price level. He claimed that the flagship crypto could dump to $63,000 and “return the pump,” dump to $60,000, and return the pump or dump to $60,000 while enjoying some relief bounces and then “die” after it dumps to $60,000. However, the analyst is most hopeful that Bitcoin just break above this level without any pullback and rise to $70,000. What To Expect From BTC Heading Into The Latter Parts Of The Cycle Crypto analyst Dann Crypto shared his expectations for Bitcoin heading into the latter parts of this bull run. He claimed that Bitcoin will enjoy a run-up heading into the US Presidential elections due to the easy narrative of a potential crypto President and Vice President. He expects this rally to also happen thanks to a potential first-rate cut and just the “overall excitement” after Bitcoin had ranged for about four months. Related Reading: Crypto Analyst Predicts 450% Move For Shiba Inu To Reach New All-Time High Daan Crypto also alluded to the Spot Ethereum ETFs, describing them as a “bit of a wildcard” since they could “accelerate the rally,” but it all depends on how much demand these ETFs enjoy. Once this Bitcoin rally is done, Daan Crypto expects that the market will experience another local top with this likely to happen during the new year. The crypto analyst predicts that the final rally in this bull run will come in the latter half of 2025, as part of the 4-year cycle. Daan Crypto noted that this 4-year cycle has always worked and that there is no reason why it shouldn’t work this time around. He warned market participants to not get fixated on a particular target as the market top for Bitcoin and instead, advised them to be fluid. Featured image created with Dall.E, chart from Tradingview.com
The Telegram-based Notcoin token has been making waves since it was introduced to the crypto market a few months ago. Following the market decline, it staged one of the strongest recoveries, rising over 50% in a single day. Given its bullish tendencies, expectations around the altcoin is that it will continue to rise, with one crypto analyst predicting how far the Notcoin price could go from here. Notcoin Price Could Rise To $0.018 In an analysis posted on TradingView, a crypto analyst who goes by “The57Trader” has proposed a bullish scenario for Notcoin. In this case, the altcoin is expected to continue to rise, with a price surge toward its current all-time high levels. Related Reading: Ethereum Bulls Gear Up For Recovery – Can Spot ETFs Push Price To New Highs? The crypto analyst points out that the Notcoin price has actually formed a bullish flag pattern, which forms the basis for this prediction. However, like with all bullish formations, there are levels that the altcoin must hold in order for it to confirm the rally. In this case, that level is the $0.016 area, and it serves as a support for the Notcoin price through market fluctuations. Now, if the altcoin is able to hold this level, then the price could continue to fly, with targets at $0.01731 and $0.01846. However, on the chance that the Notcoin price is unable to hold this level, then the price decline is expected to continue. The target in this case is place at $0.01478, which is around a 15% decline from the support level of $0.016. NOT Breaks Below $0.016 Support Holding the $0.016 support is important to the crypto analyst’s Notcoin price prediction. However, the altcoin has been unable to maintain this level. At the time of writing, the price had already fallen below the $0.016 price level once, suggesting an invalidation of this prediction. Related Reading: Analyst Says Solana Price Could Rise 450% To $840 – Here Are The Drivers Going by the analysis, then from here, the Notcoin price could continue its decline. A crash from here would no doubt be gut-wrenching for investors, but given the altcoin’s past performances following crashes, it is possible that this decline would not last long. However, so far, the Notcoin price has still continued to skirt around the $0.016 level, suggesting that bulls are still in the game. However, if the Bitcoin price continues to decline and drag the crypto market down with it, then the altcoin could see further crashes. For now, the price has recovered above $0.0163 once again, but posting 1.06% losses in the last day, according to data from Coinmarketcap. It is one of the only coins recording losses in the last 24 hours following the Bitcoin recovery above $60,000. Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst Crypto Bitlord has urged market participants to buy the XRP token. In a series of posts on his X (formerly Twitter) platform, he suggested why he asked everyone to make such an investment decision. Crypto Analyst Says Buy XRP And Hold Crypto Bitlord urged everyone in an X post to buy and hold […]
The Celestia (TIA) token has suffered one of the worst price crashes following Bitcoin’s decline, falling from as high as $20 to as low as $5 before a brief recovery. However, this crash has not deterred bulls, who believe that this altcoin is set to achieve great things in the market. Celestia Could Explode 2,750% To $188 A recent analysis posted by crypto analyst ‘House Of Crypto Kings’ has caught the attention of the Celestia community. In the post, the crypto analyst maps out a rather impressive path for the coin to rally more than 2,700% and reach brand new all-time highs. Related Reading: Spot Ethereum ETFs FOMO: Tron Founder Justin Sun Drops $5 Million On ETH To start out, the crypto analyst lauds the Celestia token for its utility that spans various use cases across the ecosystem. Some of these includes fee payments, staking for rewards, as well as promoting data availability and validation. However, moving to the meat of the analysis, the crypto analyst points out that the altcoin is still holding strong support at the $4.9 level. This was demonstrated in the latest crash this week, where TIA held strong at $4.9 and subsequently bounced above this level. This means that $4.9 is the level to hold if the rally is to continue. Furthermore, the crypto analyst points to the approval of Spot Ethereum ETFs starting an altcoin rally, something that would extend to prominent players like Celestia. “Historically, new projects introduced shortly before a bull market often experience significant rallies,” the analyst said. “We anticipate notable volatility in Q4 2024 and Q1 2025, presenting an excellent opportunity for TIAUSD to surge.” In the event of a surge, the analyst sets two prominent targets for the price, which are $80.2 and $188. On the lower end of this, the price would have to rise 1,100% from its current $6.6 level. While for the latter, the price would have to rise 2,750% to achieve it. Exiting TIA At The Right Time The crypto analyst’s prediction coming to pass would mean that Celestia investors are in for a lot of gains in the bull market. However, knowing when to exit a coin is just as important as knowing when to enter in order to secure profits. Related Reading: Forbes Says Shiba Inu Price Will Rise 1,700% To Reach $0.0003 ATH, Here’s When Given this, the analyst tells Celestia investors that they should be looking to exit their positions sometime between March and August 11 in 2025. This is because this is when they expect the top of the bull market cycle to take place and the altcoin season to come to an end. On the bearish side, however, the analyst explains that if TIA fails to maintain the $4.9 support mentioned above, then the price could break down to the next critical support around $3.6. Nevertheless, the analyst expects this to be “a key level from which a bounce is highly probable, given the upcoming significant events and the anticipated approval of Ethereum ETFs.” Featured image created with Dall.E, chart from Tradingview.com
The Bitcoin price has crashed back toward the $56,000 level after a brief pump triggered by the CPI data release on Thursday, showing that inflation rates came out at 3%, lower than expected. This bearish trend has continued despite desperate attempts from bulls to keep the price up. Even then, one crypto analyst does not believe that the decline is done and expects the fall to continue from here. Bitcoin Dump Far From Over A crypto analyst on the TradingView website, who goes by the pseudonym ‘Luca VIP,’ has expressed bearish tendencies for the Bitcoin price going forward. In the analysis, the crypto analyst points out that the reason for the current Bitcoin price fluctuation is the fact that it has hit resistance at $59,000 following the pump. Related Reading: Cardano Sees 1,218% Spike In This Major Metric, Will ADA Price Follow? As a result of this rejection, the cryptocurrency is currently in a consolidation phase, which threatens to continue from here. Furthermore, the BTC price is still showing sideways performance, even after the Thursday surge, which suggests that bears are still firmly in control of the price. Additionally, the crypto analyst maps out a possible decline trend from here, putting it as low as $56,000 until the decline is done. However, what’s important is what happens after the Bitcoin price hits this expected support level. Luca explains that despite the decline, the BTC price has formed a W pattern, which is historically a bullish pattern. In this case, a bullish reversal is expected that could trigger a retest of the $59,000 level. If the retest is successful, then the crypto analyst puts the Bitcoin price above $60,000 once again. “BTCUSDT may retest the resistance zone at $59,000. A successful breakout above this level could push the price to higher targets, potentially around $60,000 or higher,” the crypto analyst said. Is It Time To Buy BTC? While the market is still reeling from the Bitcoin price dip, some crypto analysts believe that this is a good time to time. Another pseudonymous analyst who goes by ‘RLinda’ on the TradingView website shared this sentiment recently. Related Reading: Spot Ethereum ETFs FOMO: Tron Founder Justin Sun Drops $5 Million On ETH According to the analyst, the fall to $57,000 presents a good opportunity to get into position for Bitcoin, especially as the market has been plunged into fear by the continuous sell-offs. Apparently, the BTC price is headed toward a renewal of local highs. RLinda’s stance is buttressed by the fact that the Crypto Fear & Greed Index has fallen into Extreme Fear, which has historically been the best time to get positioned for cryptocurrencies. If historical trends are anything to go by, then the price could trade sideways for a while before finally finding strong support and seeing a bounce. Featured image created with Dall.E, chart from Tradingview.com
The Bitcoin recovery has not been as impactful as expected, failing to break $60,000 even after a return of bullish momentum. Given this, expectations of a bearish reversal have become the norm as analysts do not believe that the pioneer cryptocurrency has enough steam to sustain the current momentum. One of the analysts who believe the price is destined for a downturn is Finn Oakes, who predicts a return to the $53,000 territory. Bitcoin Forms Double Top Pattern In the analysis that was shared on the TradingView website, crypto analyst Finn Oakes explains that the Bitcoin price has now formed a double top. This occurred after the Bitcoin price crossed the $59,000 level two times and both times, the price had failed to successfully clear this level. Related Reading: XRP Price: Crypto Analyst Identifies ‘Point Of Control’ That Could See A Repeat Of 2017 This double top pattern is shown on the 4-hour hour chart, where there is a reversal pattern forming as a result of this. This double top is bearish for the price and could signal a continuation of the downtrend that began last week. In such a case, the bulls have a hard fight ahead of them. Breaking down the double top, the crypto analyst explains that it has now shown $59,000 to be a strong resistance zone. This means for any rally to occur, the price would successfully have to beat this resistance before it is confirmed. In contrast to the resistance level, $56,000 has now emerged as support for the Bitcoin price. This gives both bulls and bears a tight $3,000 room to fight for dominance and push the price either way. Otherwise, sideways movement could continue. Target For The Decline Given the formation of the double top on the 4-hour chart, the crypto analyst expects the price to drop once again. For the first scenario, where the Bitcoin price breaks below the $56,000 support, the crypto analyst expects a downtrend to the $53,000 level. However, it doesn’t exactly end there if the downtrend is not stopped. In this case, the chart shows the price falling below the $53,000 level and moving toward $52,000. Although, this seems to be a worst case scenario as opposed to an expected target. Related Reading: Crypto Whales Buy The Dip As $22 Million In XRP Flows Out Of Binance Furthermore, with the rising volume during the downtrend, the analyst believes this indicates that there is more selling going on in the background, something that could contribute to the price decline. “The trading volume has increased during recent down days, indicating strong selling pressure. This reinforces the current downtrend,” Oakes said. At the time of writing, the Bitcoin price is struggling to hold the $58,000 level. However, it is still seeing 1.08% gains in the last day, according to data from Coinmarketcap. Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst Timeless Crypto has made a bullish case for FLOKI, stating why he prefers the meme coin above other blue chip meme coins like Dogecoin (DOGE). The analyst also predicted that FLOKI could end up making a hug run by year-end. Why This Analyst Is Bullish On Floki Timeless Crypto mentioned in an X […]
Veteran trader Peter Brandt has given traders what to expect from the Bitcoin price action in the coming months. His analysis is based on Bitcoin’s price highs and lows in bull market corrections since 2025. The analysis also makes use of Bitcoin’s price movements in previous halving cycles. Brandt’s analysis has come at a pivotal […]
Crypto analyst Ben Armstrong, popularly known as ‘Bitboy Crypto’ has ignited controversy by declaring Cardano (ADA)and Polkadot (DOT), “dead to institutions.” His brash statement has drawn substantial backlash from the crypto community, with many members vehemently opposing his criticizing remarks. Analyst Calls Cardano, Polkadot Dead In an X (formerly Twitter) post on July 3, Armstrong […]
Although Bitcoin has reclaimed the $56,000 price level in the past few hours, its sudden drop below $54,000 on July 5 has reminded investors of the intense volatility associated with the market. In the larger timeframe, Bitcoin has been down by 7% and 20.25% in the past seven and thirty days, respectively. While many crypto traders and analysts are still in the spirit of a bullish cycle in the long term, the sudden price drop wasn’t surprising to some. Notably, crypto trader @TheFlowHorse revealed that the drop to $53,000 resonated with his target of $52,000. Similarly, Ki Young Ju, CEO of CryptoQuant, noted the possibility of Bitcoin dropping to $47,000. Bitcoin Could Crash To $47,000 According to Ki Young Ju, Bitcoin is still in a bull market in the larger timeframe, which will continue until early 2025. This school of thought resonates with many other price outlooks for Bitcoin, especially in the long term. Despite this bullish projection, market participants are currently struggling with short-term bearish conditions. Related Reading: Dogecoin Vs. Shiba Inu Vs. PEPE: Comparing The Profitability Of The Top Meme Coins As Ki Young Ju noted, this uncertainty opens up the possibility of the world’s leading digital currency plummeting to a chilling $47,000 before finding its footing again. With the crypto market in a prolonged slump since the beginning of June, this bearish case scenario seems increasingly plausible. Bitcoin, in particular, has shed billions in value, and investor confidence is wavering. $112K at the peak of the cycle.https://t.co/beKpUVkNXL pic.twitter.com/Esj02BYms4 — Ki Young Ju (@ki_young_ju) July 5, 2024 Young Ju admonishes traders not to open high-leverage long or short positions based on his long-term bullish projections due to the prevailing uncertainty. When asked what his long-term price target for Bitcoin was, he noted a rise to $112,000 at the peak of the cycle. This prediction is based on the BTC realized market cap since July 2010. Bearish Case For Bitcoin At the time of writing, Bitcoin is trading at $56,520 and has rebounded by 4.67% since its recent fall below $54,000. However, despite this price recovery, the crypto faces a significant risk of falling further amid whale selloffs, which have amounted to over $1.7 billion in BTC in the past 30 days. Defunct crypto exchange Mt. Gox is also starting to repay its creditors in BTC after 10 years of inactivity. This is anticipated to unleash a $2.71 billion supply of Bitcoin onto the market, perhaps intensifying selling pressure. Related Reading: Shiba Inu Sees Sharp 100% Decline In Whale Activity, Is This Good Or Bad For Price? A reversal to the downside is not out of the books yet. If Bitcoin were to fall to $47,000, it would represent a 16% decline from the current price level. Market participants continue to await how Bitcoin’s price action plays out in July, which has historically been a positive month. Featured image created with Dall.E, chart from Tradingview.com
Jamie Coutts, the chief crypto analyst at crypto firm Real Vision, recently ranked layer-1 networks using their network growth. Interestingly, the networks that topped the list aren’t the usual names that crypto community members might be accustomed to. SUI And Mantle Network Top The List According to the list that Coutts shared on his X […]
A crypto analyst has identified key indicators that point to a substantial rally for XRP, the native token of the XRP Ledger (XRPL). According to the analyst, XRP is poised to rebound from its bearish trends and soar to new all-time highs XRP To Mirror 2017 Rally To New Highs In an X (formerly Twitter) post in June, crypto analyst, Tylie Eric expressed bullish optimism about XRP, emphasizing the cryptocurrency’s potential for a major rally this year. He shared an XRP price chart depicting the cryptocurrency’s price movements from as early as 2014 to 2025. Related Reading: British Mega Bank Standard Chartered Says Bitcoin Will Hit $100,000, Here’s When Eric disclosed that XRP has met all the necessary requirements and conditions to support a potential bull rally to new highs. The analyst also revealed that XRP is completely prepared to continue with “wave 3 and wave 5” of the renowned Elliott Wave Theory. The Elliott Wave Theory is a tool used to determine price movements in a cryptocurrency. The technical analysis is based on viewing long-term recurrent price patterns in a cryptocurrency. In his post, Eric disclosed that XRP was currently displaying similar patterns and conditions to those seen during its bull rally in 2017. Earlier in 2017, XRP witnessed a massive price rally, which preceded its surge to new all-time highs of $3.84 in 2018. Eric has suggested that XRP’s price action was displaying the same bullish patterns, as a result, he has projected a substantial price increase to $36.36 before the end of 2024. The analyst also revealed that XRP will have to witness a whopping 7,637.22% surge for it can reach the projected price target. Despite being a cryptocurrency analyst, Eric is an avid supporter of the XRP cryptocurrency. The analyst has constantly made bullish predictions for the altcoin, anticipating potential rebounds from bearish sentiment. Moreover, the crypto analyst revealed in his earlier post that XRP’s price action was significantly “boring.” This could be attributed to the cryptocurrency’s recent downward spiral. As of writing, the price of XRP is trading at $0.45, reflecting a 4.12% decrease in the past 24 hours and a 11.71% drop over the past month. The popular cryptocurrency has continually recorded steep declines since the beginning of June. Previously, the cryptocurrency was consolidating slightly above $0.5, however now the cryptocurrency is on a major downward trend, triggered by market volatility and Ripple’s ongoing legal battle with the United States Securities and Exchange Commission (SEC). Bullish Sentiment Rises Despite its waning value, XRP’s bullish sentiment from crypto analysts continues to rise. A particular crypto analyst identified as ‘Egrag Crypto’ predicted that the altcoin was getting closer to the Fibonacci (Fib) 1.618. The analyst disclosed that this unexpected development could indicate possible areas for a price reversal or continuation in XRP. Related Reading: Bitcoin Price Crash Is Buy Opportunity As Wallets Holding 10+ BTC Reaches New ATH Egrag Crypto also shared a price chart depicting XRP’s price actions from 2014 to 2024. In his post he emphasized that if history repeats itself XRP could potentially see a price surge to $27. The analyst has urged investors to remain prepared and optimistic about XRP’s projected surge to to $27. Featured image created with Dall.E, chart from Tradingview.com
The XRP price continues to remain suppressed under the heat of the Ripple vs. the United States Securities and Exchange Commission (SEC) legal battle. This suppressed price action has continued to discourage investors when its comes to the altcoin. However, not everyone has succumbed to the bearish pressure, as crypto analyst RLinda believes that the XRP price could be attempting a decoupling that could lead to a price breakout from here. XRP Price Decoupling Could Trigger Price Crypto analyst RLinda has forecasted a bullish picture for the XRP price where the altcoin could completely break out of its sluggish movement. The analysis which has now spanned a number of a days flows through XRP’s performance over the last year and how it has suffered crashes even when others in the market were reaching new all-time highs. Related Reading: Analysts Says Cardano Has Bottomed And Will Rally To $0.8, But It Must Hold This Level While the coin continues to be bogged down by the Ripple vs. SEC battle, crypto analyst RLinda believes that the XRP price could be reaching a possible decoupling. She explains that this is happening not just technically but fundamentally as well. A possible decoupling is bullish for the XRP price, given that it would be the start of a major price rally. Using the 1-Week chart, the crypto analyst highlights some technical developments that could be important to this possible decoupling. The first of these is that XRP is still testing the “Wedge resistance with the aim of breaking it.” Also, RLinda points out that volatility is decreasing as the consolidation is continuing at this point. However, this consolidation could be the reason that the price begins another rally. As for where the price could go from here, the crypto analyst points out that it could possibly rally as high as $0.6265 and even reach $0.73 by the time it is done. However, XRP must hold the support level at $0.4637 while breaking the resistances being mounting at $0.4962 and $0.5720. Factors Holding Price Down While XRP price continues to be one of the most popular cryptocurrencies in the market, a number of factors have suppressed. The major one is the lawsuit mentioned above. Even though Ripple has scored multiple victories against the regulator during this time, the fact that the lawsuit is yet to be officially over continues to present a major hurdle. Related Reading: Crypto Analyst Predicts 45% Drop For Bitcoin, But Says It Won’t Go Below This Level In her analysis, RLinda points to these issues as being behind the price not performing well. However, Ripple CEO Brad Garlinghouse has said that he expects the lawsuit and settlement to be complete by the end of this summer. This puts it sometime before September. If this happens, then it would mark a pivotal point for the turnouts in the XRP price. “The Ripple vs. SEC case is a pivotal moment for cryptocurrency regulation, as a final victory would be a strong green sign for the entire cryptocurrency community amidst the SEC getting a number of restrictions on its activities lately due to overstepping its authority,” the analyst said. Featured image created with Dall.E, chart from Tradingview.com
The Bitcoin and general crypto market crash has sent investors spiraling and sentiment has completed been eroded as a result of this. The Crypto Fear & Greed Index, which measures investor sentiment, has plummeted during this time. But with the fluctuation in the Bitcoin price, investors remain indecisive on their view of the market. Crypto […]
A crypto analyst has uncovered a new technical pattern in the Cardano price movements, signaling the potential for a substantial rebound. Echoing this optimism, another analyst has affirmed that Cardano may have hit its bottom and could be on the verge of rebounding to $0.8. Analyst Declares Cardano’s Price Bottom In an X (formerly Twitter) post on June 29, Captain Faibik, a crypto analyst, shared insights on Cardano’s price action and future outlook. According to the analyst, Cardano’s native token, ADA, is forming a falling wedge pattern on the daily time frame chart. Related Reading: XRP Dominance: Pundit Says Missing This Altcoin Could Be A Big Mistake A falling wedge pattern is a unique technical formation that signals the end of a consolidation phase and the beginning of a potential reversal or continuation pattern. This falling wedge formation often indicates that a cryptocurrency has hit its bottom or swing low in a market, and is seen as a bullish indicator. Sharing a price chart of Cardano from September 2023 to August 2024, Faibik predicted that Cardano would be breaking out of its price correction soon. The analyst has foreseen a 72.84% surge from the cryptocurrency’s current price. As a result, Faibik has urged Cardano investors to keep an eye on this crucial area. Sharing a similar sentiment, another crypto analyst identified as ‘Zayk Charts’ on X has also unveiled the unique falling wedge pattern on Cardano’s chart. In his case, he foresees a substantial breakout between 40% to 50% for Cardano. Cardano Rebound Potential Tied To Crucial Level If Cardano breaks out of the falling wedge pattern, it could surge to nearly $0.8. A crypto analyst identified as ‘Crypto Feras has revealed a crucial support level that Cardano must maintain to secure its anticipated bullish rebound. In his price chart, Crypto Feras highlighted Cardano’s latest price actions, marking the critical support level at $0.4251 with a yellow box. The analyst warned that if Cardano fails to hold this level, it could experience another sharp decline, potentially pushing its current price to new lows at $0.24. Since the beginning of the year, the price of Cardano has been on a major downward trend, experiencing constant declines in both favorable market conditions and high volatility. While other altcoins like Solana and Ethereum have surged considerably, Cardano underperforms, consistently maintaining a price below $1. Related Reading: Bitcoin Remains Bullish As New BTC Addresses Surge To New 2-Month Highs As of writing, the cryptocurrency is trading at $0.39, experiencing a slight daily uptick of 3.24% as market conditions stabilize. Its 24-hour trading volume has also surged considerably, recording an increase of approximately 24.84%. With the Cardano Chang hard fork approaching, the cryptocurrency could be gearing up for a significant price turnaround.Numerous analysts are optimistic, pointing to the formation of the aforementioned falling wedge pattern as a strong bullish indicator. One analyst predicts that if Cardano breaks this pattern, its price could surge to between $0.46 to $0.81 before the year ends. Featured image created with Dall.E, chart from Tradingview.com