A prominent figure in the crypto space revealed he has sold all his Bitcoin (BTC) holdings in favor of Altcoins. In an X post, the market expert claimed to still have faith in the flagship cryptocurrency and explained what he did and the reasons why. Related Reading: Spot Bitcoin ETFs Record Third Day Of Massive […]
Crypto analyst Crypto Kaleo has laid out a bullish narrative for Dogecoin (DOGE). Based on his analysis, the foremost meme coin may make a parabolic run to the upside soon enough. The analyst also alluded to history to reaffirm that this rally will definitely happen. “It’s Almost Time” For A Good Dogecoin Pump Crypto Kaleo […]
Polkadot (DOT) has come under the spotlight with crypto analysts laying out bullish narratives for the crypto asset. One of them is crypto expert Michaël van de Poppe, who believes Polkadot could rise to as high as $25 in this bull run. Polkadot Could Reach $25 On Next Leg Up Michaël van de Poppe mentioned in an X (formerly Twitter) post that Polkadot’s next rally will see it climb between $20 and $25. He explained that the crypto token has seen a substantial correction in the past months, but it showed enough strength by coming back to pre-rally levels. The analyst further claimed that Polkadot has bottomed, “especially since JAM Whitepaper came out.” Related Reading: PEPE Whales Go On Massive 720B Shopping Spree Amid Campaign For New ATHs, Is It Time To Get In? As such, he believes that Polkadot is more than primed for this rally, which could propel it to such heights. The crypto analyst has been a big believer in Polkadot’s potential. He previously included Polkadot in a list of crypto tokens that he believes are undervalued. He claimed that DOT’s valuation was still at a cycle low, which had opened up a “huge opportunity” to invest in it. Van de Poppe is very much invested in Polkadot because of its technology. In a previous X post, he highlighted how the JAM (Join-Accumualte Machine) Paper, which ushered in Polkadot 2.0, would revolutionize DOT’s ecosystem. He also claimed that Polkadot is the “second largest blockchain in terms of developers and growth.” Therefore, he expects DOT’s price to complement the team’s efforts soon enough. Meanwhile, Van de Poppe expects Polkadot to reach as high as $20 in the third quarter of this year. For now, he believes that the $8 and $17 range are crucial resistance levels that the crypto token must break out of to enjoy such a parabolic rally. A More Bullish Prediction For DOT Crypto analyst Crypto Thanos offered a more bullish prediction for Polkadot, stating that the crypto token climbing above $50 is “easily achievable” in this bull run. He believes this price is attainable because he expects institutions to get interested in large caps like Polkadot. He also noted Polkadot’s collaboration with Tie, which aims to increase institutional exposure and access. It is worth noting that Polkadot’s all-time high (ATH) is currently $55, which makes Thanos’ prediction for the crypto token feasible. Crypto tokens are known to usually surpass their ATH in every bull run. Related Reading: Why Is This Crypto Pundit Warning XRP Investors To Be At Alert For The Next 3-12 Months Crypto analyst Captain Faibik provided insights into what to expect from Polkadot in the short term. He predicts the crypto token will record a 35% “bullish rally” soon enough. He said a “major trendline breakout/retest has already been confirmed” for DOT on the four-hour timeframe chart. At the time of writing, Polkadot is trading at around $7.11, up over 2% in the last 24 hours, according to data from CoinMarketCap. Chart from Tradingview.com
Dogecoin seems to have flipped into a bullish momentum, at least in the short term, prompting analysts to predict bullish outlooks in the short term. Particularly, DOGE is up by 7% in the past 24 hours and is still on a 14% increase in the past 3 days. Current price action shows the cryptocurrency is […]
A crypto analyst identified as ‘Egrag Crypto’ has recently taken to X (formerly Twitter) to issue a warning to XRP investors regarding a potential bear market that could trigger a massive correction for the price of XRP. XRP Holders Prepare For More Declines In 2025 According to Egrag Crypto, XRP is expected to enter a steep bear market stage in 2025. The analyst based his predictions on a technical analysis tool he called the “Gaussian Channel,” revealing three distinct technical phases for XRP, including a Green A, Green B and Green C phase. Related Reading: Ethereum Bull Flag Breakout: ATH On The Horizon As Major Metrics Turn Bullish He noted that the bearish phase in Green A had already been completed. However, the Green B phase is expected to end by June 2025, and Green C is anticipated to conclude by January 2025. The analyst further emphasized that the aforementioned dates do not represent cycle tops but indicate the beginning of a “deep bear market phase.” He also revealed that the Gaussian Channel was a technical analysis tool used to visualize price movements of cryptocurrencies around a mean average price. The purpose of the tool is to help identify volatility, risks, and certain support and resistance levels. Additionally, analyzing the historical trends and durations of the green phases provided by the Gaussian Channel provides valuable insights that can be used to interpret future price movements. Presently, the price of XRP has remained relatively unchanged for the past few months, primarily consolidating around the $0.5 mark without witnessing any significant momentum. This lackluster performance can be attributed to the ongoing legal challenges the cryptocurrency has faced with the United States Securities and Exchange Commission (SEC) over the past four years. While Egrag crypto anticipates more bearish sentiment for XRP in the coming year, the crypto analyst also suggests that the next 3 to 12 months could present critical trading opportunities as the market evolves. He cautions XRP holders to remain vigilant and prepared for potential market volatility, which could lead to a “life-changing window.” Analyst Highlights XRP’s Resilience In a previous X post, Egrag Crypto maintained an optimistic outlook for the price of XRP. He emphasized the cryptocurrency’s strength and resilience, noting that XRP was indicating strong bullish signals in its price fundamentals. Related Reading: Bitcoin Analyst Reveals Why $57,938 Is The Level To Watch This Week He revealed that if XRP can maintain a critical position within the “Launching Channel,” a trading pattern identified by partial wicking candles and ascending consolidation, the cryptocurrency could see its value potentially surging to $6.4. Related Reading: Bitcoin Long-Term Holders Buy The Blood, Snatch Up 70,000 BTC At the time of writing, the price of XRP is trading at $0.51, reflecting an increase of 3.51%, over the past 24 hours, according to CoinMarketCap. Egrag Crypto has advised the broader XRP community to remain “calm and steady,” as the next three to six months could present significant opportunities for investors. Chart from Tradingview.com
Crypto analysts continue to be super bullish on the future of the XRP price despite its poor performance in the past. However, while some analysts have predicted price targets that, to many, seem unrealistic, others have set more conservative targets. This is the case of crypto analyst Alan Santana, who just unveiled his 6-month prediction for the XRP price. XRP Price Is Ready For A Bullish Wave Alan Santana took to the TradingView website to share his latest analysis on the XRP price. This prediction is expected to play out over the next six months as the crypto market heads into what is expected to be an explosive bull rally. Related Reading: This Crypto Expert Called The Bitcoin Top in 2021, Now He’s Calling The Bottom In 2024 The crypto analyst believes that in this cycle, the altcoin may find its price moving well ahead of other altcoins. “it is likely to be one of the first to move… One of the first to move big!” the analyst said. Santana also gives reasons for this, one of them being that the waiting period between each bullish wave for the XRP price has elapsed. His analysis showed that the altcoin has usually seen a 6-8-month gap between each bullish wave. However, it had been 308 days since it saw its last bullish wave, which is well over 10 months. This means that the altcoin is more than ready for another bullish wave. He also added, “The fact that XRPUSDT went through a correction and has been consolidating for this long is considered bullish.” Furthermore, the altcoin has been on a bullish trend, recording higher lows. This is usually bullish for any asset as it suggests better support for the price as it moves upward. “Higher lows means that the bulls have the upper hand when it comes to the long-term trajectory of this chart,” Santana explained. XRP Can Move 280% In 2024-2025 The crypto analyst expects a rather rapid bullish wave for the XRP price and stated that he expects this to happen sometime in 2024 and 2025. The main reason behind this is that the accumulation phase for the altcoin is finally coming to an end. This is a sentiment that has also been shared by another crypto analyst known as U-Copy. According to the analyst, the XRP price had been in accumulation for the last seven years, but it has finally come to an end in 2024, and this end in the accumulation phase will lead to a rally. Related Reading: Brace For Impact: Mt. Gox Set To Inject 142,000 BTC And 143,000 Bitcoin Cash Into The Market- Here’s When While U-Copy expects the altcoin to hit a new all-time high price as this accumulation phase comes to an end, which would be an at least 600% move from here, Santana has taken a more conservative stance. The analyst does expect the XRP price to break above $1, but puts the peak around $1.9 and $2. This would mean a 280-300% move from here. “Once it starts going, it will go really strong and for a very long while… People will be wondering, ‘why didn’t I buy when prices were low?’,” the analyst concluded. Featured image from CoinMarketCap, chart from Tradingview.com
A crypto analyst has predicted a substantial bullish surge for the the XRP price in the future. According to the analyst, XRP is gearing up for a substantial increase to $33.5 from an initial price of $0.50. He expects the price of the cryptocurrency to explode by 6600% in this current market cycle. Analyst Forecasts Exponential Rise In XRP Price In a recent X (formerly Twitter) post, a crypto analyst identified as ‘Egrag Crypto,’ revealed a series of bullish price targets for XRP in the near future. The analyst focused his predictions on a technical analysis called “the Line of Hestia.” Related Reading: US Mega Banks JP Morgan And Wells Fargo Unveil Bitcoin Exposure As BTC Drops To $60,000 Egrag Crypto’s latest findings suggest that XRP could rise to $33.5 if it touches the Line of Hestia, a technical indicator featuring an ascending trend line which signals a potential upsurge for the price of a cryptocurrency. According to the analyst, “Historical data indicates that every time the XRP price touches the “Line of Hestia,” it experiences significant price pumps.” This implies that there may be a correlation between XRP’s bullish price movements and the ascending trend line. Egrag Crypto also revealed that following this historical pattern, XRP has witnessed pumps ranging from 6600%,1444%, 100%, 80%, and 171%. Given the established trend, Egrag Crypto predicts XRP’s ascent to new all-time highs. He calculated the average percentage increase of XRP’s price each time it touched the Line of Hestia, dividing the sum by the total number of occurrences, which is five. Using this data, the crypto analyst estimates that if XRP were to experience a 6600% increase, its future price would be $33.50. Similarly, he calculated new prices for XRP based on the previous percentages. It’s important to note that the price of XRP, at the time of writing, is trading at $0.5. The cryptocurrency has been recording considerable declines over the past year, consolidating around the $0.5 price mark for months. According to CoinMarketCap, XRP has also recorded a 7.35% decrease over the past seven days and a 0.08% decline in the last 24 hours. Although Egrag Crypto has remained optimistic about XRP’s future price, other crypto community members have expressed skepticism over the analyst’s ambitious forecast. A few community members have denied the prediction, emphasizing that the cryptocurrency’s surge to $33.5 during this cycle was highly unlikely. Possible Price Correction Ahead Of Projected Surge In one of his most recent X posts, Egrag Crypto disclosed that XRP could witness a major price correction before experiencing a significant rally. The analyst has urged crypto investors to remain cautious of the cryptocurrency unless the XRP/BTC ratio closes above the $0.00010 threshold. Related Reading: Is The Bitcoin Bottom In? Buy The Dip Sentiment Erodes Amid Drop Toward $60,000 Egrag Crypto anticipates a potential 45% decline for XRP/BTC, emphasizing that this substantial price drop could indicate a bottom between $0.0000055 and $0.0000077. However, he also disclosed that overcoming resistance at $0.00001 would be crucial for a rebound in XRP. Token price at $0.5 | Source: XRPUSDT on Tradingview.com Featured image from Watcher Guru, chart from Tradingview.com
Crypto analyst Javon Marks has provided insights into the future trajectory of Solana (SOL) after it hit a 1,100% return. The analyst is known to have called the crypto token’s previous high correctly, which is one reason his latest prediction is worth keeping an eye on. Solana Could Rise To As High As $453 Marks mentioned in an X (formerly Twitter) post that despite its recent pullback, Solana’s price may be getting ready for another price rally. He noted that a move of over 54% may already be in the pipeline and that such a price move could open up room for another run of over 93%, which would send Solana to $453. Related Reading: Cardano Ready For 15x Move, Crypto Analyst Reveals The Major Drivers Source: X Marks predicted last year that Solana would climb above $200, which it eventually did this year, peaking at a year-to-date (YTD) high of $202. Although the crypto token has dropped significantly from that price level, Marks’ recent prediction confirms that Solana’s run isn’t done yet and will still surpass its current all-time high (ATH) of $260. Solana rising to $453 looks more feasible considering that crypto analysts like Altcoin Sherpa have predicted that the crypto token could rise above $500 by year-end. Crypto analyst Hansolar also predicted that Solana could climb to $600 in this market cycle. Meanwhile, Crypto YouTuber Jake Gagain predicted that Solana will rise to $750, although he mentioned that it will likely happen in 2025. SOL Could Become The Third-Largest Crypto Token Solana’s rise to as high as $500 could lead to the crypto token becoming the third largest crypto asset by market cap, only behind Bitcoin and Ethereum. This is possible, as a rise to $500 is almost double Solana’s current ATH. Crypto analyst Chris O also previously predicted that this would likely happen as he predicted Solana and ADA would battle for the position. Meanwhile, asset manager Franklin Templeton also sounded confident in Solana’s potential to become the third-largest cryptocurrency. In a recent analysis, the asset manager highlighted the factors that could lead to this development. One is Solana’s technology, which they think will be perfect for the sectors that will drive the next wave of crypto adoption. Related Reading: US Mega Banks JP Morgan And Wells Fargo Unveil Bitcoin Exposure As BTC Drops To $60,000 Franklin Templeton also alluded to the upcoming airdrops on the Solana network, which could bring more liquidity into the ecosystem and possibly cause a surge in Solana’s price, just like when the Jito and Pyth airdrops occurred. The asset manager also noted that meme coin activity on the network isn’t slowing, which could contribute to Solana’s rise to becoming the third-largest cryptocurrency. Solana has become the foremost network for trading meme coins, which has led to an influx of new investors into the ecosystem. Therefore, a sustained network expansion will likely reflect positively on Solana’s price sooner or later. At the time of writing, Solana is trading at around $144, up in the last 24 hours, according to data from CoinMarketCap. SOL price at $144 | Source: SOLUSD on Tradingview.com Featured image from DL News, chart from Tradingview.com
While the focus has mainly been on Bitcoin and Ethereum through the downtrend, other smaller altcoins such as Theta Network with much more potential have been flying under the radar. However, crypto investors are no longer ignoring these altcoins and have begun to call out the opportunities in these cryptocurrencies. Theta Network Is Looking At A Breakout Crypto analyst CobraVanguard has called out an interesting formation in the THETA chart that suggests that a massive breakout might be on the horizon. In the analysis which was posted on the TradingView website, the analyst points out that a bull flag is currently being formed. Related Reading: Is The Bitcoin Bottom In? Buy The Dip Sentiment Erodes Amid Drop Toward $60,000 This bull flag pattern started with the most recent decline below the $2 price level after a period of brief dips and recoveries. Interestingly, since this bull flag pattern is still only forming, it does not mean that the breakout will happen immediately. CobraVanguard’s chart shows that there will be more uncertain movements in the THETA price, coupled with the possibility of the price actually falling below $1.9. At the same time, the crypto analyst points out that the price is currently bouncing from the middle line around $1.99. Source: Tradingview.com However, once the formation is complete, then the breakout can happen. The upper end of the target presented by CobraVanguard shows that the THETA price can rise as high as $3.7. This would mean an almost 100% increase in price from its current level. Holding Up Well Amid Uncertainty 2024 has been a rather eventful year for Theta Network. The network’s native token, THETA, had begun the year trending below $1. However, within the month of March alone, it saw an over 250% increase, going from $1.1 to over $3.7 before correcting back downward. Since then, the THETA price has lost around 40% of its value. But this is only due to the negative headwinds that can be attributed to the decline in the Bitcoin price. The altcoin has moved upward in the market since then, rising over a $2 billion market cap to become the 51st-largest cryptocurrency in the space. Related Reading: Ex-Twitter CEO Jack Dorsey Says Bitcoin Will Reach $1 Million, Here’s When Amid the broader market downturn, THETA is still seeing positive metrics, especially when it comes to its volume. According to data from CoinMarketCap, the daily trading volume of the altcoin has jumped 13% in the last day alone, suggesting that interest is returning to the cryptocurrency. At the time of writing, the THETA price is seeing small daily gains of 1.47% to trade at $2.02. However, on the weekly and monthly timeframes, the altcoin has performed poorly, dropping 13.73% and 12.97%, respectively. Price drops to $2 | Source: THETAUSDT on Tradingview.com Featured image from FXLeaders, chart from Tradingview.com
Expectations for the XRP price have fluctuated greatly in the last year, mostly due to the uncertainty that continues to cloud the Ripple legal battle with the United States Securities and Exchange Commission (SEC). However, bullishness has prevailed despite the altcoin’s disappointing performance in 2024, with one analyst pretending an end to what has been […]
Crypto analyst Onchained recently provided valuable insights into an important metric that can be used to gauge the future trajectory of Bitcoin. The analyst suggested there was no cause to worry at the moment but highlighted what to watch out for to know the right time to exit the market. Bitcoin Short-Term Holders NUPL Turns Negative In a blog post, the analyst noted that the NUPL (Net Unrealized Profit/Loss) for Bitcoin’s short-term holders recently turned negative. The analyst added that this signals fear among this category of investors, which is very much likely given Bitcoin’s current price action. The last time this trend occurred was shortly after the Spot Bitcoin ETFs were approved, with Bitcoin dropping from $49,000 to $38,000 following that occurrence. Related Reading: What Triggered The 6,350% Spike In XRP Long Liquidations Compared To Shorts? Source: CryptoQuant While the short-term holders’ NUPL turning red again suggests that a significant price decline may be on the horizon, the analyst remarked that this price level may simply represent a significant support line. The real cause for concern might be when the NUPL for mid-term holders also turns negative. “It could indicate widespread market fear and serve as a crucial risk management indicator for exiting the market,” the analyst claimed. It is worth noting that the short-term holder’s NUPL being negative means they are currently seeing an unrealized loss in their investments. This could trigger a wave of sell-offs among these investors, mainly because of fear that Bitcoin’s price could further dip. However, based on the analyst’s analysis, this might not significantly lower Bitcoin’s price. Instead, market speculators should be more worried about the PUNL of mid-term holders (those who have been holding Bitcoin for 3 to 6 months). The PUNL also turning negative will “suggest widespread pessimism or negative sentiment.” This could lead to massive selling pressure on Bitcoin’s price as this category of investors might also offload their holdings out of fear. The Worst May Already Be Over Crypto analyst Ali Martinez had previously shared a similar analysis to Onchained’s, noting that Bitcoin short-term holder’s (STH) realized price was at $59,800. The analyst warned back then that Bitcoin dropping below this level could trigger “notable Bitcoin price corrections.” Following his prediction, Bitcoin fell below $59,800, dropping to as low as $57,000. Related Reading: Crypto Analyst Says Ethereum Price Will Drop To $2,500, Here’s Why However, the flagship crypto has since then recovered nicely above $60,000. Although Bitcoin is still showing signs of a bearish outlook, its quick recovery above $60,000 suggests that the worst might be over, and all the crypto token needs right now is a catalyst to spark a continuation of its bull run. Arthur Hayes, BitMEX’s co-founder and former CEO, also confirmed this belief, noting that Bitcoin has already found its local bottom. However, he predicted that Bitcoin will likely have a “range-bound price action between $60,000 and $70,000 until August.” BTC bulls push price above $63,000 | Source: BTCUSD on Tradingview.com Featured image from Kiplinger, chart from Tradingview.com
Cardano is currently in a downtrend, continuing to show bearish tendencies as its price trends below $0.5. However, where many have seen an altcoin that does not have many prospects, crypto analyst FieryTrading believes that the digital asset is giving investors an opportunity to get in for cheap. Cardano Can Break Out Of Parallel Channel In an analysis on the TradingView website, crypto analyst FieryTrading alludes to Cardano’s ability to break out and go on a massive bull run. The analysis draws from a previous analysis where the analyst had pointed out that the Cardano price had entered a parallel channel. Related Reading: Here’s How This Ethereum Whale Made $16 Million From A Single Trade This parallel channel emerged with the last cycle’s top going into the current cycle top with a line drawn from the last cycle’s bottom when the lockdown had sent crypto prices crashing. Despite the crypto analyst first pointing out this parallel channel back in 2023, they believe that it continues to remain valid, especially as the price continues to rtend low. Back then, the crypto analyst had predicted that the ADA price, if it were to break out of this parallel channel, could rise as high as as $35. This bullish expectation continues with the most recent analysis, albeit with a price adjustment. In the Wednesday analysis, FieryTrading notes that There is still the possibility for the altcoin’s price to reach the top of the channel. In this case, the price would fully complete the move toward $30. However, the crypto analyst’s chart carries a $25 target, which would be a 5,600% rally from its current level. Source: TradingView.com ADA Bears Maintain Control Despite the bullish outlook maintained by the crypto analyst, Cardano has succumbed to the bears. The price has dropped as low as $0.44 in the last day, indicating a 1.38% decline. On a wider timeframe, the ADA price looks even worse, with an almost 28% drop in one month. Related Reading: Can Ethereum Reclaim $4,000? Fragile Fundamentals Threaten To Send ETH Crashing However, despite this trend, the analyst still believes that investing in Cardano right now is a risk worth taking. FieryTrading refers to it as “the entry of a lifetime” that could guarantee good returns. Moreover, the analyst gives it a R/R (risk/reward) ratio of 116, which is a good number. For now, the ADA price is still struggling to hold up in the market. This is not helped by the decline in market sentiment, leading to a nasty 22% drop in its daily trading volume, according to data from Coinmarketcap. ADA price at $0.43 | Source: Source: ADAUSDT on Tradingview.com Featured image from Binance Academy, chart from Tradingview.com
Mike McGlone, Senior commodity strategist at Bloomberg Intelligence, has made a rather pessimistic prediction for Bitcoin, emphasizing that the cryptocurrency’s potential rise to $150,00 was a long shot. The strategist has revealed factors that could make Bitcoin’s projected surge to $150,000 difficult, highlighting both macroeconomic trends and Bitcoin’s performance in 2024. Bitcoin Surge To $150,000 Unlikely In a recent interview with Scott Melker, the host of “The Wolf Of All Streets,” podcast, McGlone discussed Bitcoin’s price fundamentals and its possible rise to $150,000 in the 2024 bull cycle. Related Reading: Crypto Whale Spends $10.4 Million On PEPE, Do They Know Something You Don’t? Comparing Bitcoin with the stock market index, the S&P 500, the Bloomberg strategist disclosed that the cryptocurrency was currently showing “divergent weakness,” highlighting that Bitcoin’s performance against the S&P 500 in 2021 was greater compared to 2024. He also revealed that Bitcoin was displaying a similar weak performance to Gold, emphasizing current market conditions and the risk of short-term deflation in the financial market. The combination of these factors pushes McGlone to believe that Bitcoin’s short-term projected rise to $150,000 was unlikely. While the Bloomberg strategist made his foreboding prediction despite Bitcoin’s overperformance at the beginning of the year, McGlone still remains optimistic about the cryptocurrency’s price and fundamental value in the long term. Co-founder and CEO of CoinRoutes, Dave Weisberger, who was also in the podcast with McGlone, made a more optimistic prediction for Bitcoin. Basing his analysis on historical trends and patterns as far back as 2015, Weisberger forecasted that Bitcoin could rise to $200,000 this cycle. His forecast is also acknowledged by reformed hedge fund manager, James Lavish, who revealed in the podcast that Spot Bitcoin ETFs could become a potential driver for Bitcoin’s continuous growth. This is attributed to the massive impact Bitcoin ETFs had on the cryptocurrency’s price following its launch on January 11, 2024. After Spot Bitcoin ETFs were successfully released into the market, the price of Bitcoin skyrocketed to new all-time highs above $73,000. At the time of writing, the cryptocurrency is trading at $63,778, marking a 0.89% increase over the past seven days, according to CoinMarketCap. BTC Crash Presents Perfect Opportunity According to Lavish, if Bitcoin crashes down to the $30,000 to $40,000 range, it would present a “tremendous opportunity” for investors to acquire substantial value in a long-term asset that will essentially hold its value and continue to appreciate in the future. Related Reading: Crypto Analyst Says Cardano Bloodbath Far From Over, Sets Bottom Price For ADA The reformed hedge fund manager revealed that Bitcoin’s short-term volatility and market unpredictability could produce long-term capture of value. This suggests that by strategically navigating through the price fluctuations of Bitcoin, investors could potentially capitalize on its volatility to accumulate wealth over time, which in turn could favorably impact the price of the cryptocurrency. BTC bears and bulls continue tug of war | Source: BTCUSD on Tradingview.com Featured image from ETF Stream, chart from Tradingview.com
Dogecoin has now presumably entered a long-term bullish rally that could send its price higher from here, according to one crypto analyst. This comes after the price had crashed below $0.13, before a swift recovery brought it back above $0.16. So what is driving this current bull rally? Dogecoin Ready For Long-Term Bullish Rally Crypto […]
Cardano has recovered from its April lows and continues to maintain a strong momentum above $0.45. This has prompted expectations that the altcoin will go on a rally from here. However, not everyone shares this sentiment as one crypto analyst expects the price to crash further from here. Cardano Will Crash Back Below $0.45 In the latest video on his YouTube channel that revolved around Cardano’s future trajectory, crypto analyst, ‘More Crypto Online’, revealed why the ADA price is poised for more decline. The analyst pointed out that the altcoin is currently in its 3-wave corrective rally. Related Reading: Fantom Revival: Crypto Analyst Predicts A Jump To $1.2 For FTM Price Now, the Elliot Wave Theory which is being referred to by the crypto analyst consists of five waves. Out of the five, three are bullish and two are bearish. The bullish waves involve the 1, 3, and 5, with 2 and 4 being bearish waves. If the analyst is correct and the Cardano price has only completed three waves so far, that means the fourth wave, which is a bearish wave, is yet to be established. As a result, the crypto analyst believes that the Cardano price will further break down as it enters the fourth wave. He further pointed out that the altcoin’s price had fallen below the $0.48 support, which was an important level for it. This, coupled with the fact that it is yet to enter the fourth wave, has the analyst convinced that the price crash is far from over. As for where the ADA price might end up in this fourth wave, the crypto analyst believes it will go as low as $0.42 before recovering again. However, the good news is that once the fourth wave is completed, it gives way for the fifth wave to begin, which is the most bullish of all the waves and could see the ADA price barrel past $1. ADA Metrics Still Bullish Despite the bearish outlook presented by the crypto analyst, major Cardano metrics continue to show bullish divergence. For example, the daily trading volume of the altcoin has risen almost 17% in the last day to cross $286 million, data from CoinMarketCap shows. Related Reading: Why Did The Solana (SOL) Price Jump Today? This drastic rise in daily trading volume suggests a return of interest in the altcoin and this could quickly translate to a bullish trend, especially in the short term. Additionally, the fact that the price is on the rise at this time suggests that the majority of the transactions as a result of this renewed interest is from buyers rather than sellers. This suggests that the price will continue to rise if this demand is sustained. At the time of writing, ADA is still sitting firmly above $0.45, with a 1.78% increase in the last day. ADA price still above $0.45 | Source: ADAUSDT on Tradingview.com Featured image from Cardano Feed, chart from Tradingview.com
Crypto analyst Ali Martinez has revealed that it may still be an excellent time to accumulate Bitcoin. This comes amidst the flagship crypto’s recent price recovery, with the crypto token skyrocketing above $64,000. Bitcoin Is Still In A “Prime Buy Zone” Martinez mentioned in an X (formerly Twitter) post that Bitcoin’s Market Value to Realized Value (MVRV) 90-day ratio indicates that it is still in a “prime buy zone” despite its recent price surge from $57,000 to $64,000. The MVRV is a metric used to determine whether a crypto token is undervalued or overvalued. Related Reading: Cardano Comeback: Analyst Reveals Why It’s Time To Get Back Into ADA Source: X Based on Martinez’s findings, Bitcoin looks to be currently undervalued, which presents a good opportunity to accumulate the crypto token. The analyst’s revelation undoubtedly provides reassurance for those who failed to buy the dip and are looking for a perfect entry to invest in Bitcoin. Interestingly, Bitcoin whales didn’t waste time accumulating during Bitcoin’s recent decline, as Bitcoinist reported that these investors bought 47,500 BTC ($2.8 billion) between May 2 and 3. However, the MVRV ratio being at that level suggests that many of these whales are investors adding to their positions, meaning that significant buying pressure shouldn’t be expected anytime soon. Crypto analyst Michaël van de Poppe also recently suggested that Bitcoin is still undervalued. He noted that the crypto token is back above $60,000, and retail isn’t here yet. He mentioned in another X post that these retail investors won’t return until the summer, which means that everyone currently positioning themselves is still early. BTC Almost Ready For Next Leg Up Crypto analyst Mikybull Crypto recently hinted that Bitcoin is almost ready for another parabolic rally. He stated that Bitcoin’s local bottom is in considering that the “next liquidity grab interest is above.” He added that Bitcoin will first “clear out the $67,000 level and consolidate in preparation for the $73,000 level. Related Reading: Fantom Revival: Crypto Analyst Predicts A Jump To $1.2 For FTM Price Source: X Meanwhile, the analyst revealed in another X post that Bitcoin has “finally experienced a MACD (Moving Average Convergence/Divergence) bullish cross” on the daily chart, just like it did in January 2024, which led to the crypto token rising to as high as $73,000 in March. According to Mikybull Crypto, Bitcoin reclaiming above the 50-day Moving Average will “further confirm the bullish continuation.” For those looking to long Bitcoin, Mikybull Crypto remarked that the $64,000 range is an “ideal zone” to do so. He predicts that Bitcoin might clear out the CME gap between $62,580 and $64,105 before consolidating at around $64,000. At the time of writing, Bitcoin is trading at around $65,300, up over 2% in the last 24 hours, according to data from CoinMarketCap. BTC price falls from $65,000 to $63,000 | Source: BTCUSD on Tradingview.com Featured image from The Independent, chart from Tradingview.com
XRP has largely had a lackluster price movement in recent months, although it continues to show promise for real-world utility. Particularly, the price of XRP was recently rejected at $0.66 after a little surge which saw it falling back down as far as the $0.42 price level. The crypto now finds itself ranging between $0.6 […]
An analyst has explained how, if the historical pattern followed by the ADA price is to be believed, Cardano seems ready to go on a parabolic bull run. Cardano May Be Set For A Bull Run Based On Historical Trends In a new post on X, analyst Ali Martinez has discussed what hints history may contain regarding where ADA’s price would go next from here. First, here is a chart shared by the analyst that shows the trend the cryptocurrency followed back in 2019: The pattern that the price of the asset followed a few years back | Source: @ali_charts on X From the graph, it’s visible that the asset had first consolidated inside a parallel channel during this period. A “parallel channel” in technical analysis (TA) refers to the region bounded by two parallel trend lines. Related Reading: Bitcoin Loses Historical Level, Analyst Says “Reclaim And Bounce, Or Die” The upper line of the pattern connects the tops in the price, while the lower one joins the bottoms. When consolidating inside the channel, the price is probable to find resistance at the upper end and support at the lower one. A break out of either of these lines can imply a continuation of the trend in that direction. As is visible in the chart, ADA managed to break out of this past parallel channel with a 75% surge. The asset then followed this rally up with a correction of around 56% before finally lifting off into a massive 4,095% bull run. Interestingly, just like in 2019, Cardano was stuck inside a similar parallel channel in 2023. The chart below shows this recent pattern for the cryptocurrency. Looks like the price of the asset recently broke out of its parallel channel | Source: @ali_charts on X As displayed in the graph, Cardano broke out of this latest parallel channel a while ago, this time with a rally of around 72%. Recently, though, the asset has lost this bullish momentum, as it has seen a drawdown of 50%. According to the analyst, however, this can, in fact, set the stage for a new bull run. History doesn’t repeat itself, but it often rhymes! If that is the case for Cardano, we should be positioning ourselves for what’s coming, understanding that the recent price correction might just be one of the last buy-the-dip opportunities ADA will give you. Related Reading: Bitcoin On Track For $1 Million Per BTC “Fair Value”, Analyst Says It now remains to be seen whether ADA will repeat the pattern from the last bull run or not. This is more about the long-term view, though, so where might the asset go in the short term? This may be answered by a signal that the analyst has shared in another X post. The TD Sequential signal that the ADA price has formed recently | Source: @ali_charts on X As Martinez explains: The TD Sequential, which timed the Cardano top, now presents a buy signal on the ADA daily chart. It anticipates a one to four daily candlesticks rebound that could put an end to the ADA corrective phase. ADA Price At the time of writing, Cardano is trading around $0.464, down 3% over the past week. The price of the coin seems to have observed a sharp plunge over the past month | Source: ADAUSD on TradingView Featured image from Shutterstock.com, charts from TradingView.com
An analyst explained how Shiba Inu could be heading towards a massive rally based on a bull flag pattern that forms in its daily chart. Shiba Inu Has Been Consolidating Inside A Bull Flag Recently In a new post on X, analyst Ali has discussed about a bull flag that has recently appeared in the daily price of Shiba Inu. The bull flag is a pattern in technical analysis (TA) that, as its name suggests, is shaped like a flag on a pole. The pattern forms when an uptrend is followed by a period of consolidation inside a parallel channel toward the downward direction. The starting uptrend makes up for the pole, while the channel acts as the flag. Related Reading: Bitcoin Greed No More: Sentiment Back At Neutral After $57,000 Plunge Like other TA patterns, the consolidation channel or flag here comprises two parallel lines. The upper level connects the price tops, while the lower one joins the bottoms. When the asset retests either of these levels, it’s probable to undergo a reversal, with the upper line of the channel acting as a point of resistance and the lower one as support. A break above the resistance line is considered a bullish signal for the price. The uptrend resulting from such a break may be the same length as the flag’s pole. On the other hand, a drop below the flag (that is, a breakdown of support) invalidates the formation and may even suggest the takeover of bearish momentum for the asset. Similar to the bull flag, there is also the bear flag in TA, which works much in the same way, except that it occurs during a downtrend (with the flag signifying consolidation towards the upside following a downward pole). Now, here is the chart shared by Ali that shows the bull flag pattern Shiba Inu has potentially been forming on its daily price recently: The formation that the memecoin's price has been displaying during the last few weeks | Source: @ali_charts on X From the graph, it’s clear that the Shiba Inu 1-day price has been consolidating inside what appears to be a bull flag pattern channel in the past few weeks. “I’m placing buy orders around $0.000018343, aiming for a bullish breakout that sends $SHIB to $0.000072323,” says the analyst. The former level is about where SHIB should meet the flag’s support next if it continues in its current trajectory, while the latter target is based on the height of the pole. Related Reading: Bitcoin To $92,190: Crypto Analyst Reveals Path To ATH Target A run to the bullish target of $0.000072323 would imply a rally of more than 244% from the current spot price of the cryptocurrency, while from the lower support of $0.000018343, any such surge would correspond to a growth of over 294%. It remains to be seen whether Shiba Inu will show a break above this bull flag pattern and, if it does, whether the price will benefit from bullish effects. SHIB Price At the time of writing, Shiba Inu is trading around $0.00002110, down more than 18% over the past week. Looks like the price of the coin has been heading down over the last few days | Source: SHIBUSD on TradingView Featured image from Traxer on Unsplash.com, charts from TradingView.com
Altcoins have suffered more in the crypto market following the Bitcoin price crash, leaving a lot of investors in losses. This is not out of the ordinary as these altcoins are known to have a higher volatility compared to Bitcoin, hence, their price swings can be more pronounced. Given the recent decline, the expectation is that the altcoins will recover. However, one analyst does not agree with that assessment. Altcoins Headed For 40% Crash In an analysis posted on X (formerly Twitter), seasoned crypto analyst Benjamin Cowen shocked the crypto community with his expectations for altcoins. According to the analysis, the worst is far from over for the altcoin market, as there are still more crashes to come. Related Reading: Crypto Analyst Reveals Why $59,800 Is An Important Level For Bitcoin Cowen explained that this was analyzed using altcoins versus Bitcoin pairs, and it seems each one looks weak against the apex cryptocurrency. This is due to the expected rate cuts, and historical performance suggests that a decline will follow. The crypto analyst pointed to the 2019 rate cuts and how altcoins had reacted to that development back then. Following the rate cuts, altcoins plunged against Bitcoin, with major players recording up to 40% losses during this time. “Perhaps this time is not different? This would mean ALT/BTC pairs drop another 40% from here over the next few months,” Cowen said. Cowen expects this to place out regardless of what happens in the market in the meantime. He explains that even if the market does recover in the short term, it does not invalidate the thesis. “Short-term countertrends do not invalidate this view,” he stated. If this repeats, then it could turn an already harsh market trend even bloodier. The altcoin market cap has already fallen below $1 trillion as of the time of writing, but a 40% decline from here could send it as low as $600 billion. Bitcoin Crash Drags Down Crypto Market While the Bitcoin crash has been brutal, the impact on altcoins has been much more pronounced. Ethereum has held up nicely with less than a 4% decline during this time, but others such as Stacks (STX), Arweave (AR), Neo (NEO), and Sei (SEI) are down an average of 9% in the last 24 hours. Related Reading: Ethereum Price Prediction: Crypto Expert Says ETH Is Yet To Bottom Against Bitcoin Meme coins were also not left out of the bloodbath, with market leader Dogecoin dropping 6% to $0.126 and Pepe (PEPE) plunging 7.74% to $0.0000063. Bonk (BONK) recorded a 5% decline to eliminate some of its gains from last week, and Shiba Inu fell 4.18%. Amid all of this, though, there have been some market winners, with Optimism (OP) recording 12% gains. Cosmos (ATOM) followed with a 9.8% increase, and Starknet (STRK) rose 9%, making them the top gainers of the day, according to data from Coinmarketcap. Altcoin market cap at $952 billion | Source: Altcoin total market cap from Tradingview.com Featured image from Analytics Insight, chart from Tradingview.com
On Wednesday, Bitcoin sharply declined, dropping below the crucial $60,000 support level. Despite this recent market downtrend, Bitcoin investors remain confident as they believe the flagship crypto can still reach new heights in this market cycle. Some say this might be what Bitcoin needs before making another parabolic run to the upside. Bitcoin’s Decline Is Nothing To Be Scared Of Raoul Pal, the CEO of Real Vision, reassured in an X (formerly Twitter) post that Bitcoin’s recent price decline was not unusual, stating it was “pretty ordinary stuff.” He also pointed out that this was Bitcoin’s fourth 20% correction in the past 12 months, underscoring how normal these price movements are. Related Reading: Crypto Funds Mark 3rd Consecutive Weeks Of Outflows With $435 Million In Withdrawals Source: X Alex Thorn, Head of Research at Galaxy Digital, had previously warned that price declines of such magnitude were to be expected, stating that “bull markets are not straight lines up.” He noted that the same thing happened in the 2021 and 2017 bull runs when Bitcoin experienced about 13 price drawdowns of over 10% or more. Meanwhile, crypto analyst Rekt Capital claimed in an X post that “this is exactly what the cycle needs to resynchronize with historical price norms and the traditional Halving Cycle.” He added, “The longer this goes on, the better.” In another X post, he reassured his followers that Bitcoin is getting closer to its final bottom with each passing day. Like Rekt Capital, crypto analyst Mikybull Crypto also sounded confident that Bitcoin’s recent decline was just a part of the bigger picture for its move to the upside. They claimed this would be the “final shakeout before up, only rally to a cycle top.” Thomas Fahrer, the CEO of Apollo, also shared his bullish sentiment towards Bitcoin, as he suggested that the crypto token’s volatility is what makes it a great investment. “Price might fall to $40K, but it might rise to $400K. That’s just how it is, and it’s a great bet. Bitcoin is still the best asymmetric opportunity in the market,” he wrote on X. Bitcoin Bull Run Is Far From Over Crypto analyst Ali Martinez suggested that Bitcoin’s bull run was far from over while comparing Bitcoin’s current price action to the last two halving events. According to him, Bitcoin consolidated for 189 and 87 days around the halving in 2016 and 2020, respectively, before the bull run resumed. Source: X He further noted that Bitcoin has only consolidated for 60 days this time around, meaning that the flagship crypto will continue its run eventually. In a subsequent X post, the analyst stated that Bitcoin might be 538 days away from hitting its next market top if it follows its trend from the previous two bull runs. Related Reading: Ethereum Flashes Bullish Signals, Can It Rally 50% From Here? Before now, Martinez mentioned that Bitcoin could rise to a new all-time high (ATH) of $92,190 if it breaches the resistance level of $69,150. At the time of writing, Bitcoin is trading at around $59,600, down over 5% in the last 24 hours, according to data from CoinMarketCap. BTC price succumbs to bears | Source: BTCUSD on Tradingview.com Featured image from CriptoFacil, chart from Tradingview.com
The Bitcoin price has seen a massive downside this week going into the FOMC meeting on Wednesday. The digital asset’s price saw a sharp 8% drawdown, which sent its price below $57,000, its lowest point in two months. While this came as a surprise to many, one crypto analyst in particular was able to pinpoint […]
A crypto analyst has predicted when Ethereum, the world’s second-largest cryptocurrency, will bottom against Bitcoin, however, under certain conditions. Analyst Predicts ETH/BTC Bottom Timeline In a recent X (formerly Twitter) post, crypto analyst and founder of ITC Crypto, Benjamin Cowen, shared his forecast regarding the Ethereum to Bitcoin price ratio, projecting the timeline for when ETH/BTC would hit its lowest value in the current market cycle. Sharing insights on the market conditions, Cowen noted striking similarities between the present market’s dynamics and the one seen in 2019. He disclosed that ETH/BTC’s recent bounce mirrored the market’s behavior in 2019, two months before the Federal Reserve (FED) cut down rates. Cowen predicts that the ETH/BTC ratio will reach the lowest point in its price cycle when the FED makes a significant change in its monetary policy, often referred to as a “pivot.” The crypto expert expects this pivot to occur in a few months, ultimately suggesting that Ethereum would bottom against Bitcoin in the coming months. His analysis is also based on the assumption that macroeconomic conditions and the FED’s monetary policies can significantly impact the cryptocurrency market. Sharing a price chart of Ethereum against Bitcoin in another post, Cowen projected that the ETH/BTC ratio will head towards a range of 0.03 and 0.04 by summer. Commenting on his prediction of ETH/BTC’s bottom, a crypto community member expressed skepticism about the FED’s likelihood of cutting down rates while inflation was still high. Cowen responded that the absence of a rate cut further reinforced his beliefs that the ETH/BTC ratio has not yet reached its lowest point. He suggests that unless inflationary pressures are addressed, the ETH/BTC ratio may continue on its downward trend. Crypto Expert Calls Ethereum A Higher Risk Asset In another post, Cowen referred to Ethereum as a higher-risk asset and Bitcoin as a lower-risk asset. The crypto analyst’s forecast on Ethereum against Bitcoin is underpinned by his interpretation of capital migration dynamics, suggesting that higher-risk assets typically depreciate relative to lower-risk assets. He highlighted the uncertainty surrounding the future market movements of ETH/BTC following the halving event. Cowen predicted that if ETH/BTC witnesses a “relief rebound” after the halving, then he expects a rejection by the bull market support band, particularly in the context of weekly closing prices, estimated to range between $0.053 to $0.054. While acknowledging his past successes in predicting ETH/BTC price movements, Cowen highlighted that his predictions remain speculative, stating, “Just because I have been right so far about ETH/BTC does not mean I will continue being right.” ETH bulls fail to hold $3,000 | Source: ETHUSDT on Tradingview.com Featured image from Finbold, chart from Tradingview.com
An analyst has explained what path Bitcoin might need to follow to surge to a new all-time high (ATH) target of $92,190. Bitcoin Needs To Breach This Resistance Barrier To Rise To New ATH In a new thread on X, analyst Ali discussed whether the BTC price has hit the top. The one signal the analyst has pointed out that may point towards the top has been the massive scale of profit-taking that the market has seen recently. Related Reading: Bitcoin Dominance: Traders Preferring The OG To Dogecoin & Other Altcoins Ali is waiting for another confirmation before the top can be confirmed. In the scenario that the top gets validated, these are the targets the analyst has marked based on on-chain data. The distribution of UTXOs across the various price levels | Source: @ali_charts on X The above chart shows the Bitcoin UTXO Realized Price Distribution (URPD) data from Glassnode, which tells us how many coins were last bought at what price levels. Generally, the cost basis is an important level for any investor, so they are likely to show some reaction when a retest of it happens. This reaction is the largest when many investors share their cost basis around the same level. When this retest happens from above, the holders may respond by buying more, as they could see the drop as a dip opportunity. As such, large cost basis zones below the current price can prove to be centers of support. “If the market top is confirmed, BTC could drop toward $51,530 or even $42,700!” notes Ali, given that these two levels are the next major support lines for the coin. The analyst says, however, that if BTC can instead break the $66,250 level, which is a source of major resistance right now since these loss holders may be desperate to exit at their break-even, then this bearish outlook could become invalidated. An on-chain pricing model could provide some hints about what might happen when such a break occurs. The trend in the MVRV Pricing Bands for BTC over the past few years | Source: @ali_charts on X The Market Value to Realized Value (MVRV) Pricing Bands is a model that, in short, tells us about where the different multipliers of the average cost basis of the entire market currently lie. The chart shows that the market cost basis is currently at $28,800. Historically, three multipliers of this metric have been relevant for the asset: 0.8x, 2.4x, and 3.2x. The 0.8x level is where bottoms occur, while the 3.2x line is a probable spot for tops to form. Bull rallies in proper have occurred after a breach of the 2.4x level. At present, the 2.4x level lies at $69,150. “By rising above $66,250, Bitcoin will gain the strength to push towards $69,150. And if this resistance barrier is breached, BTC can advance toward a new all-time high of $92,190,” explains Ali. Related Reading: This Bitcoin Metric Foreshadowed Recent Price Drops, Quant Reveals This ATH target is based on the fact that the 3.2x level is equivalent to $92,190 at the moment. It remains to be seen whether the top is already in and BTC would retest the lower levels or if more is left to this rally. BTC Price At the time of writing, Bitcoin is trading at around $61,100, down more than 7% over the past week. Looks like the price of the coin has plunged over the past day | Source: BTCUSD on TradingView Featured image from Shutterstock.com, Glassnode.com, chart from TradingView.com
Crypto analyst DonAlt has outlined a scenario where the Bitcoin price could drop to as low as the mid-$40,000. He further suggests that this price breakdown might be necessary for the continuation of BTC’s bull run. How Bitcoin Could Drop To As Low As $47,000 In an update to his Bitcoin analysis, DonAlt noted that Bitcoin had dropped back to around the $60,000 price range and could eventually break that support if it continues to be tested. From the accompanying chart he shared, the crypto analyst hinted that a price breakout below the $60,000 range would see Bitcoin drop to $52,000 or even further down to $47,000. Related Reading: XRP Price Prediction: Analyst Says Prepare For 700% Jump To $4, Here’s When Source: X Meanwhile, he added that this might be something even the bulls want, so there could be a washout below $60,000, which would shake off weak hands. DonAlt also seems to support a price breakout below the support area, as he shared his belief that there is currently complacency in the market. This is when crypto investors ignore the risks associated with Bitcoin, having seen price increases for an extended period. DonAlt said he would continue to hold this complacency belief until proven otherwise. For that to happen, he remarked that Bitcoin would need to reclaim $68,000 or drop below $60,000 and reclaim that support level again. Denis Baca, Head of Product at Zivoe Finance, also recently suggested that BTC could drop below $60,000 before it makes any parabolic move. This was a huge possibility, especially since Baca noted that the flagship crypto historically retests the support level of the 20-week SMA (small moving average) in May. He claimed this could cause Bitcoin to drop to $56,000. BTC Bulls Are Getting Overwhelmed By The Bears Bitcoin bulls look to be succumbing to the pressure from the bears. Crypto analyst Ali Martinez revealed in an X post that there has been a “noticeable dip in Bitcoin whale activity” since March 14. This suggests the current market downtrend could be diminishing their confidence, as these whales are always known to accumulate more during every price dip. Martinez added that a “surge in whale transactions could be the spark needed to boost” BTC’S price. Related Reading: Brace For Price Impact: Dogecoin Whales Move Massive 456 Million DOGE To Exchanges Meanwhile, CryptoQuant’s Head of Research, Julio Moreno, recently noted that Bitcoin’s price has remained tepid due to the slowdown in demand. He alluded to the Spot Bitcoin ETFs, which have seen their demand decline this month. Like Martinez mentioned, Moreno stated that there needs to be a “demand growth” for Bitcoin to experience another rally. At the time of writing, Bitcoin is trading at around $62,300, down over 2% in the last 24 hours, according to data from CoinMarketCap. BTC price trending at $62,200 | Source: BTCUSD on Tradingview.com Featured image from Xataka, chart from Tradingview.com
Despite BTC’s recent unimpressive price action, crypto analyst Doctor Profit has shared his bullish sentiment for Bitcoin and the broader crypto market. The analyst further suggested that a parabolic move was imminent and that crypto investors should position themselves accordingly. Crypto Market Preparing For A “Third Industrial Revolution” Doctor Profit mentioned in an X (formerly Twitter) post that the crypto market “is preparing itself for the third Industrial Revolution,” thereby hinting at a trend reversal for Bitcoin and altcoins soon enough. “Be part of it, or regret for [a] lifetime,” the crypto analyst added as he warned crypto investors of missing this market rally. Related Reading: HBAR Prices Crashes 35% As BlackRock Denies Any Ties To Hedera In a previous X post, Doctor Profit gave an idea of what to expect from the crypto market (Bitcoin in particular) when it makes its next leg up. He stated that the flagship crypto will rise to $84,000 after it is done trading the sideway range between $60,000 and $72,000. In another X post, he claimed that the super cycle will start after Bitcoin hits $72,000. Meanwhile, Doctor Profit suggested that the price corrections experienced were normal and usually occur in each crypto cycle. He further remarked that the 10 to 20% price fluctuations weren’t big moves. His statement echoes the sentiment of Alex Thorn, Head of Research at Galaxy Digital, who previously warned that bull markets weren’t “straight lines up.” Bitcoin Is In The Re-Accumulation Period In a recent X (formerly Twitter) post, crypto analyst Rekt Capital confirmed that Bitcoin is currently in the Re-Accumulation phase, which occurs after the Bitcoin Halving. He further noted that the goal now “is for Bitcoin to move sideways to catch a breather, for the market to cool off after [a] fantastic Pre-Halving price performance. Related Reading: Why Is The Dogecoin Price Down Today? According to Rekt Capital, this Re-Accumulation period can last for multiple weeks “and even up to 150 days.” The analyst revealed that once this period is over, Bitcoin will experience a breakout from this sideways range, followed by a parabolic uptrend. This uptrend phase is said to last for over a year. However, with the probability of this being an accelerated market cycle, Rekt Capital remarked that the duration for this uptrend could be cut in half. Crypto analysts like Tom Dunleavy, Partner and Chief Investment Officer (CIO) at MV Capital, predict that the flagship crypto will rise as high as $100,000 when that time comes. At the time of writing, Bitcoin is trading at around $64,360, up in the last 24 hours according to data from CoinMarketCap. BTC bears pull down price | Source: BTCUSD on Tradingview.com Featured image from Kapersky, chart from Tradingview.com
Crypto analyst Crypto Noan has revealed a profit-taking strategy that crypto investors can adopt as they invest in Shiba Inu (SHIB), the second-largest meme coin by market cap. This strategy would be most beneficial to those who need guidance in securing profits as the meme coin continues to make significant price gains. Price Levels To […]
Crypto analyst Bluntz Capital has predicted a strong price surge for Bitcoin in the coming days, and a new all-time high could be in the books. Bluntz dropped his two cents on Bitcoin’s trajectory on the social media platform X, amidst various price outlooks for the cryptocurrency in recent days. Bluntz is well known for […]
Cardano suffered a massive price crash over the last two weeks. However, with the market recovery, the ADA price has begun to see some positive headwinds. Analysts expect this recovery to continue, with one crypto analyst in particular, who goes by CobraVanguard, expecting a bullish continuation toward $1. Cardano Completes The ABC Wave The crypto market crash, led by Bitcoin, saw the prices of Cardano and other altcoins plunge into a dreaded ABC wave. This wave is notorious for causing massive dips to the tune of 50%, leaving investors in losses in its wake. Related Reading: Ethereum Enters Accumulation Phase As $500 Million ETH Leave Exchanges The crypto analyst revealed that Wave A had taken place when Cardano had fallen from $0.8 to $0.57, and then Wave B saw the recovery from $0.57 to $0.68. The third and final wave, Wave C, saw the price crash from $0.77 to $0.4 before bouncing upward once again, signaling the completion of the ABC wave. As with all other crashes, there comes a time when the ABC wave is over, and the price of an altcoin can recover, and it seems Cardano has entered this range. The price of the altcoin has since recovered above $0.5, with the bulls now taking control. From here, the analyst expects the recovery to continue and rally with a new wave. “After the fifth bullish wave, Cardano has completed his corrective waves (ABC) and now he has reached the end of the wedge, now it is time to start the five bullish waves,” CobraVanguard said. Source: Tradingview.com ADA Price Targets CobraVanguard outlines a number of reasons why they believe that the Cardano price is going to be bullish. Firstly, they outline an ascending structure of the chart, which suggests a bullish continuation. Next is the bullish wedge that is forming in the chart. Also, high-potential areas are becoming clearer in the chart, as the analyst outlined. Related Reading: Battle For The Halving Block: Bitcoin Users Spend Record $2.4 Million On Block 840,000 In the first wave, the analyst outlines a possible jump to $0.77. From here, they expect that the price will retrace a bit to $0.64 before resuming the uptrend. However, the analyst takes a more conservative stance compared to other analysts about the top, putting it somewhere around $1.09. The analyst further pointed out that in a situation where the wedge were to break down, it could invalidate this, and possibility lead to a decline in price. “Note that if the WEDGE is broken down with the power of descending candles, our analysis will fail,” CobraVanguard concluded. ADA price at $0.5 | Source: ADAUSDT on Tradingview.com Featured image from CoinGape, chart from Tradingview.com
MATIC, the native token of the Polygon network, has had perhaps one of the most disappointing runs of the top cryptocurrencies in the last year. While most of the market rallied to new yearly highs, the MATIC price continued to struggle, leaving investors in massive losses. However, there may be light at the end of […]