Keith Gill, the trader linked to the 2021 GME short squeeze, has returned to Reddit claiming he’s made a big bet on GameStop, sending the stock’s price surging overnight markets.
Solana declined again and tested the $160 support zone. SOL price is consolidating and might recover if it clears the $166 resistance zone. SOL price corrected lower and tested the $160 support zone against the US Dollar. The price is now trading below $168 and the 100-hourly simple moving average. There is a connecting bearish trend line forming with resistance at $165 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could clear the $166 resistance unless it fails to stay above $160. Solana Price Eyes Recovery Solana price remained in a short-term bearish zone like Bitcoin and Ethereum. SOL tested the $160 support zone and now consolidating losses. It is stuck below the $165 level. There was a minor move above the 23.6% Fib retracement level of the downward move from the $170 swing high to the $161.50 low. Solana price is now trading below $166 and the 100-hourly simple moving average. Immediate resistance is near the $165 level. There is also a connecting bearish trend line forming with resistance at $165 on the hourly chart of the SOL/USD pair. The next major resistance is near the $166 level. A successful close above the $166 resistance could set the pace for another major increase. The next key resistance is near $168 or the 61.8% Fib retracement level of the downward move from the $170 swing high to the $161.50 low. Any more gains might send the price toward the $172 level. More Losses in SOL? If SOL fails to rally above the $166 resistance, it could start another decline. Initial support on the downside is near the $162 level. The first major support is near the $160 level, below which the price could test $155. If there is a close below the $155 support, the price could decline toward the $150 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is losing pace in the bearish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. Major Support Levels – $162, and $160. Major Resistance Levels – $166, $168, and $172.
XRP price extended losses below the $0.5120 support zone. It tested the $0.5080 zone and now attempting another recovery wave toward $0.5350. XRP is struggling to start a fresh increase above the $0.5250 resistance zone. The price is now trading below $0.5150 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $0.5180 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move down if the price stays below $0.5250. XRP Price Extends Losses XRP price remained in a short-term bearish zone like Bitcoin and Ethereum. The price struggled to start a recovery wave and extended losses below the $0.5220 support zone. It even declined below the $0.5120 support. A low was formed at $0.5080 and the price is now attempting a fresh recovery wave. There was a move above the $0.5120 level. The price climbed above the 23.6% Fib retracement level of the downward wave from the $0.5405 swing high to the $0.5080 low. However, the price is still trading below $0.520 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.5180 level. There is also a key bearish trend line forming with resistance near $0.5180 on the hourly chart of the XRP/USD pair. The first key resistance is near $0.5250 or the 50% Fib retracement level of the downward wave from the $0.5405 swing high to the $0.5080 low. A close above the $0.5250 resistance zone could send the price higher. The next key resistance is near $0.5320. If there is a close above the $0.5320 resistance level, there could be a steady increase toward the $0.5450 resistance. Any more gains might send the price toward the $0.5650 resistance. More Downsides? If XRP fails to clear the $0.5180 resistance zone, it could continue to move down. Initial support on the downside is near the $0.5120 level. The next major support is at $0.5080. If there is a downside break and a close below the $0.5080 level, the price might accelerate lower. In the stated case, the price could decline and retest the $0.50 support in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.5120 and $0.5080. Major Resistance Levels – $0.5180 and $0.5250.
Ethereum price extended its decline and tested the $3,700 support. ETH is now consolidating and eyeing a fresh increase above $3,840. Ethereum extended its decline and tested the $3,700 zone. The price is trading near $3,800 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support near $3,760 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase unless there is a close below the $3,700 support. Ethereum Price Holds Support Ethereum price struggled to start a fresh increase and declined below the $3,750 support zone, like Bitcoin. ETH even traded below the $3,720 support zone. However, the bulls were active near the $3,700 support zone. A low was formed at $3,702 and the price recently started a recovery wave. There was a move above the $3,750 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $3,957 swing high to the $3,702 low. Ethereum price is now trading near $3,800 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $3,760 on the hourly chart of ETH/USD. If there is a fresh increase, ETH might face resistance near the $3,830 level. The first major resistance is near the $3,880 level or the 76.4% Fib retracement level of the downward move from the $3,957 swing high to the $3,702 low. An upside break above the $3,880 resistance might send the price higher. The next key resistance sits at $3,950, above which the price might gain traction and rise toward the $4,000 level. If the bulls push Ether above the $4,000 level, the price might rise and test the $4,080 resistance. Any more gains could send Ether toward the $4,220 resistance zone. Another Decline In ETH? If Ethereum fails to clear the $3,830 resistance, it could start another decline. Initial support on the downside is near the $3,750 level and the trend line. The next major support is near the $3,720 zone. A clear move below the $3,720 support might push the price toward $3,660. Any more losses might send the price toward the $3,550 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,720 Major Resistance Level – $3,880
Only 10.6% of the total Ether supply is currently on centralized crypto exchanges, its lowest level in years.
Bitcoin price extended losses and declined below the $67,200 level. BTC found support near $66,650 and now consolidating in a range. Bitcoin spiked below $67,000 but the bulls are still in action. The price is trading above $68,000 and the 100 hourly Simple moving average. There is a key rising channel forming with resistance at $68,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it settles above the $68,400 level. Bitcoin Price Stuck Below $70K Bitcoin price extended its decline below the $67,500 level. BTC tested the $66,650 zone and recently started a recovery wave. The price traded as low as $66,652 before it climbed back above $67,500. The bulls were able to push the price back above $68,000. It even spiked above the 50% Fib retracement level of the downward move from the $69,550 swing high to the $66,652 low. Bitcoin price is now trading above $68,000 and the 100 hourly Simple moving average. On the upside, the price is facing resistance near the $68,200 level. There is also a key rising channel forming with resistance at $68,200 on the hourly chart of the BTC/USD pair. The first major resistance could be $68,400 or the 61.8% Fib retracement level of the downward move from the $69,550 swing high to the $66,652 low. The next key resistance could be $68,800. A clear move above the $68,800 resistance might send the price higher. In the stated case, the price could rise and test the $69,500 resistance. Any more gains might send BTC toward the $70,600 resistance. More Losses In BTC? If Bitcoin fails to climb above the $68,400 resistance zone, it could start another decline. Immediate support on the downside is near the $67,500 level. The first major support is $67,200. The next support is now forming near $67,000. Any more losses might send the price toward the $66,500 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $67,500, followed by $67,000. Major Resistance Levels – $68,400, and $68,800.
Trader Peter Brandt says Bitcoin’s bull run is following similar past post-halving cycles, and if it holds it could reach $130,000 by late next year.
It follows a public letter from ZK researchers and top industry experts slamming the firm for “oppressive behavior.”
The government seeks a collaboration to research and develop the technology further.
Bitcoin price action could remain sideways for longer, but BNB, AR, XMR, and TIA may see some short-term gains.
It’s scientist versus business mogul as X.com’s biggest nerd fight plays out in real time.
Bitcoin traders remain bullish over a BTC price breakout despite months of consolidation — and on-chain data supports them.
In fueling meme coin madness, Caitlyn Jenner and Iggy Azalea turn out to be utter degens.
Onchain Highlights DEFINITION: Balances in miner wallets are the total supply held in miner addresses. Bitcoin miner balances have shown significant shifts in recent months. The balance in miner wallets has seen a steady decline since late 2023, reaching lows not seen in years, reflecting miners’ responses to the recent Bitcoin halving in April 2024. […]
The post Bitcoin miner balances fall below 1.81 million BTC, lowest in years post-halving appeared first on CryptoSlate.
In May, the crypto community endured devastating losses to hackers, resulting in the highest loss tally recorded in 2024 to date.. According to a report from blockchain security firm Peckshield, hackers made away with $385 million in May, highlighting the sophistication of these bad actors and the consistent need for effective security measures in the […]
Notably, Lagos, Nigeria’s commercial nerve center, falls outside the top 15 cities regarding Google search interest for Bitcoin.
Popular play-to-earn token Notcoin (NOT), has continued to retain investors’ attention over the last week with a stunning positive market performance. According to data from CoinMarketCap, Notcoin gained 46.97% in the last day emerging as the top-performing asset in the market. Related Reading: Toncoin (TON) Forms Double Top Pattern, Bearish Or Bullish? Notcoin Records Weekly Gains Of 238% With the general crypto market showing a stable price movement, Notcoin’s explosive performance which indicates a high level of buying pressure has taken center stage among spectators, analysts, and prospective investors. The crypto gaming project was initially introduced as a closed beta version in November 2023 by the Open Builders and supported by the Open Network (TON) Foundation. Following its official launch in January 2024, Notcoin quickly garnered much attention, registering millions of users due to its simplistic gameplay and strategic integration with the social media app Telegram. In this play-to-earn game, players earn NOT coins by tapping continuously on a virtual gold coin and executing simple tasks. However, in recent times, Notcoin has introduced a new feature known as “earnings missions” which allows users to passively stack up NOT tokens. The NOT token was officially airdropped on May 16 and has since showcased both sides of the crypto market’s volatility. Following this release, Notcoin initially dipped by over 60% falling from $0.012 to trade as low as $0.0050. However, in the last week, the token has put up a remarkable performance gaining by 237.70% to attain an all-time high value of $0.01781. Notably, Notcoin’s market cap value has also grown from $526.77 million to about $1.81 billion pushing the token into the top sixty cryptocurrencies. Related Reading: Two Top Players: Notcoin vs. Uxlink for Mass Adoption On-Chain Data What’s Next For Notcoin? At press time, NOT trades at $0.01735 following a 155.57% rise in its daily trading volume per data from CoinMarketCap. According to a prediction by Coincodex, the sentiment around Notcoin is highly bullish with a Fear & Greed Index of 72. With the bulls retaining market control, Coincodex predicts the play-to-earn token to rise to $0.021 and $0.054 in five and thirty days respectively. However, on the token’s 4-hour trading chart, the Relative Strength Index (RSI) is well in the overbought zone indicating a trend reversal may lie on the horizon and the current bull trend may soon be over. Nevertheless, Notcoin’s future trajectory remains uncertain and will likely be influenced by future network developments/features and the project’s ability to retain its growing customer base. All investors are admonished to conduct proper research before investing in any asset as the crypto market remains subject to high levels of volatility. Featured image from iStock, chart from Tradingview
Coinbase, the leading US cryptocurrency exchange, is doubling down on its fight with the Securities and Exchange Commission (SEC), accusing the regulatory body of attempting to strangle the crypto industry through “regulation by enforcement.” Related Reading: Crypto Fraudster Gets Slammed: Ex-Banker Gets 41 Years In Prison The SEC-Coinbase Acrimony In a fiery appeal filed on […]
The price of Bitcoin appears to have returned to a choppy market condition, quashing any hopes of a breakout to new highs soon. However, the good news is that the current bull cycle may still not be over, even though it is taking a while for the premier cryptocurrency to resume its upward momentum. Specifically, the latest on-chain observation shows that Bitcoin has been going through a “euphoria wave” over the past few months. Here’s the implication of this phase on the current bull run. How Old Is The Current Bitcoin ‘Euphoria Wave’? Blockchain intelligence firm Glassnode revealed via a post on the X platform that Bitcoin has entered the euphoria phase of the market cycle. This on-chain observation is based on the “Percent Supply in Profit” metric, which measures the percentage of the total circulating Bitcoin supply that is currently in profit. Related Reading: Can BONK Break The Mold? Analyst Predicts Stellar Rise For The Solana Memecoin According to Glassnode, the “Euphoria Wave” is identified as a period during which the supply in profit usually fluctuates around the 90% level. This phase typically lasts between 6 to 12 months and is characterized by increased investor sentiment and heightened market speculation. Glassnode’s data shows that 93.4% of the circulating Bitcoin supply is currently in the green and that the Euphoria Wave is “relatively young”. The on-chain analytics platform noted that the euphoria phase has only been active for about two and a half months. As with every phase in the market cycle, the Euphoria Wave will eventually come to an end at some point. Historically, the euphoria phase can signal tops and is usually followed by a cooling-off period, which is marked by a downturn in the price of Bitcoin. If the last cycle – with a 6-month Euphoria Wave – is anything to go by, then there might still be about three to four months in the current bull run. Ultimately, the current profitability of the premier cryptocurrency may prove pivotal in the duration of its bull cycle and overall future trajectory. Rise Of BTC Accumulation Addresses Continued In May: Analyst One of the tell-tale signs of the bullish sentiment around Bitcoin is the continuous rise in accumulation addresses. According to an on-chain analyst on CryptoQuant’s platform, there has been a notable increase in the number of new BTC accumulation addresses. The analyst pointed out the continuity of this positive trend despite BTC’s relatively slow price action in May. Meanwhile, the large Bitcoin holders have also continued to load their bags, with significant purchases recorded over the past month. Related Reading: Dogecoin Whales Buy $112 Million Worth Of DOGE As Crypto Investors Turn Their Attention To Meme Coins As of this writing, Bitcoin is valued at $67,744, reflecting a mere 0.4% increase in the last 24 hours. According to data from CoinGecko, the pioneer cryptocurrency is up by about 15% in the past month. Featured image from iStock, chart from TradingView
Nigeria's young resident population now feels more bewilderment due to the administration’s recent actions against Nigeria’s crypto industry.
El Salvador's pro-Bitcoin President Nayib Bukele began a new five-year term, with the crypto industry applauding his leadership as he positions the country as a "world leader."
The FTX bankruptcy estate has been involved in several asset liquidations over the past year, as they seek to fully reimburse former customers of the now-defunct exchange. In the latest development in the ongoing proceedings, the estate has sold the last part of its shares in the artificial intelligence (AI) startup Anthropic. FTX Rakes In […]
Ethereum, the world’s second-largest cryptocurrency, finds itself at a critical juncture. After a strong 25% surge in the past month, outperforming its peers, Ethereum is facing a formidable hurdle in the form of resistance levels around $3,795 and $3,846. Analysts are watching this price battle closely, as it could determine the coin’s trajectory in the coming days. Related Reading: Worrying Signs For XRP: Price Tumbles As Demand Dries Up Breaking Barriers Or Bracing For A Tumble? Technical analysis paints a contrasting picture for Ethereum. If the bulls can muster enough strength to push the price above $3,845, a continuation of the rally seems likely. This breakout could pave the way for a surge towards $4,015 and even a test of $4,270, according to analyst Morecryptoonl. $ETH: Standard resistance is defined between $3,795 and $3,846. A break below $3,710 would indicate that wave c of 3 to the downside has begun. If the price breaks above $3,847, then it is worth to explore if a larger corrective rally in wave B of Y is unfolding, as per the… pic.twitter.com/gQaC1dlDaT — More Crypto Online (@Morecryptoonl) June 1, 2024 However, a failure to breach this resistance zone could trigger a wave of selling, potentially leading to a price decline. The chart studies suggest that a break below $3,710 might mark the beginning of a downward correction, pushing Ethereum towards support levels at $3,560 and even as low as $3,470. Key Levels To Watch The focus for both traders and investors has shifted to these critical resistance and support levels. These price points act as a gauge for market sentiment, with a successful breakout above resistance indicating bullish strength and a potential continuation of the uptrend. Conversely, a drop below support suggests a loss of confidence among buyers and could spark a sell-off. The overlap of these resistance and support levels on the chart further highlights their significance. This convergence indicates a potential for a price swing in either direction, making the coming days crucial for Ethereum’s future trajectory. Ethereum Price Forecast The Ethereum price prediction for July 2, 2024, suggests a modest upward trend, with an anticipated increase of 2.10%, bringing the price to $3,863.83. This projection is based on current market analysis and technical indicators. The sentiment surrounding Ethereum is classified as Neutral, indicating neither a strong bullish nor bearish outlook among traders and analysts. The Fear & Greed Index, however, registers a score of 73, indicating a predominance of greed in the market. This high greed level can signify that investors are optimistic and willing to buy at higher prices, potentially driving the market up in the short term. Related Reading: MATIC Under The Lens: Why Is Polygon Busy But Not Making Money? Over the past 30 days, Ethereum has experienced considerable market activity, recording green days (days with a positive price increase) 60% of the time. This frequency of green days, combined with a price volatility of 11.11%, highlights the cryptocurrency’s dynamic nature and susceptibility to significant price swings. Featured image from Pexels, chart from TradingView
The gates of Lompoc Federal Correctional Institution clanged shut on a fallen titan this week. Changpeng Zhao, better known as “CZ” and the billionaire founder of Binance, the world’s largest cryptocurrency exchange, began a four-month prison sentence for failing to prevent money laundering on his platform. Related Reading: Changing Of The Guard? NYSE President Acknowledges […]
The American Bankers Association claims that United States President Joe Biden's move will "harm investors, customers, and ultimately the financial system."
The United States Securities and Exchange Commission “is serious about the destruction of digital assets,” according to cryptocurrency exchange Coinbase.
The Shiba Inu (SHIB) ecosystem had an event-filled week with several developments surrounding the meme coin. These developments again highlighted the mixed sentiment towards Shiba Inu (SHIB), with the crypto token running the risk of declining further from its current price level. Shibarium Sees Spike In Total Value Locked Data from DeFiLlama shows that the […]
A crypto analyst has highlighted the Chainlink remarkable resilience amidst market volatility, predicting that the cryptocurrency is getting ready to witness a 300% surge against Bitcoin, the world’s largest cryptocurrency. Chainlink Poised For 300% Increase Against Bitcoin Chainlink, a decentralized blockchain oracle network has been gaining traction recently, bolstered by the innovative developments within its ecosystem. Popular crypto analyst, Michael van de Poppe has expressed optimism about Chainlink’s native token, LINK, predicting a major bull rally for the cryptocurrency. Related Reading: Dogecoin Whales Buy $112 Million Worth Of DOGE As Crypto Investors Turn Their Attention To Meme Coins Sharing a price chart depicting Chainlink (LINK)/ Bitcoin (BTC) price movements from 2021 to 2025, Poppe forecasted in an X (formerly Twitter) post that LINK is on track to witness an exponential increase between 150% to 300% against BTC. As of writing, the price of Bitcoin is trading at $67,623, according to CoinMarketCap. The cryptocurrency has fallen below key support levels of around $70,000 and reflects a slight decline of 1.05% in the last 24 hours. Poppe has revealed that he would not be surprised if Chainlink reaches this price milestone, underscoring his confidence in the cryptocurrency’s price fundamentals and future potential compared to Bitcoin. In the chart analysis, the crypto analyst pinpointed a critical resistance level for LINK/BTC around $0.000448, indicating that this point could trigger strong breakouts upward for Chainlink. In an earlier post, Poppe identified Chainlink’s next resistance zone at $21, predicting that the cryptocurrency could see its price trading between $25 and $30 in the coming months. For this to happen, the crypto analyst explained that Chainlink will have to establish a higher low on the weekly time frame. Poppe’s optimistic outlook on Chainlink comes after the blockchain platform has initiated several strategic partnerships. Chainlink has collaborated with Circle, a peer-to-peer payments company, to expand developer usage of USDC and Euro Coin (EURC). Additionally, the blockchain platform recently allied with SWIFT, an interbank messaging system, to accelerate the adoption of Distributed Ledger Technology (DLT). These innovative developments may serve as a catalyst for a potential price increase for the cryptocurrency, driven by enhanced network utility and increased adoption from new users. LINK Price Update Amidst broader market conditions, Chainlink has been performing better than expected, experiencing consistent price increases since the beginning of the year. Over the past month, Chainlink has risen by 45.01%, underscoring the cryptocurrency’s growing demand and interest from investors. Related Reading: Bitcoin Enters Dreaded ‘Chop Season’ – What Does This Mean For Price? CoinMarketCap’s data has also shown that Chainlink has surged by 3.32% in the last 24 hours and 7.79% over the past week. This bullish performance can be said to be attributed to Chainlink’s ongoing development initiatives in its ecosystem alongside the recent approval of Spot Ethereum ETFs by the United States Securities and Exchange Commission (SEC). As of writing, the price of Chainlink is trading at $18.53, reflecting a 24-hour increase of 14.86% in its daily trading volume. Featured image created with Dall.E, chart from Tradingview.com
A new crypto report has disclosed that the number of people who own digital assets has surpassed 6.8%. This surge in adoption comes ahead of the highly anticipated crypto bull run, with many seeing cryptocurrencies as a valuable form of investment. Crypto Adoption Skyrocket In 2024 On May 24, digital asset service provider Triple A […]
Crypto investors are keeping a close eye on Ripple (XRP) as technical indicators paint a concerning picture for the altcoin’s price. After closing below its 20-day exponential moving average (EMA) for four consecutive days, XRP has entered what many analysts interpret as a bearish zone. Related Reading: MATIC Under The Lens: Why Is Polygon Busy But Not Making Money? This technical indicator suggests a potential shift in market sentiment, with the average price of XRP over the past 20 days acting as a resistance level. With the current price trading below this key benchmark, analysts fear a decline in demand could be imminent. At the time of writing, XRP was trading at $0.52, down 0.3% and 3.1% in the last 24 hours and seven days, respectively, data from Coingecko shows. Demand For XRP Loses Steam Adding fuel to the bearish fire are XRP’s momentum indicators, which provide insights into the strength and direction of price movements. Both the Relative Strength Index (RSI) and Money Flow Index (MFI) are currently positioned below their neutral points. This suggests that buying pressure behind XRP is waning, with investors potentially looking to offload their holdings rather than accumulate more. Further dampening the mood is a significant drop in XRP’s active on-chain addresses. According to data from Santiment, the number of daily active addresses on the XRP network has cratered by 30% over the past month. This decline is often seen as a precursor to a price slump, as it indicates a decrease in overall network activity and user engagement. Profit Amidst The Gloom? However, there are some glimmers of hope for XRP bulls. An interesting data point reveals that daily traders are still managing to turn a profit. An analysis of XRP’s daily transaction volume in profit compared to loss shows that for every transaction ending in a loss, 1.16 transactions yield profits. This suggests that despite the overall bearish sentiment, short-term trading opportunities might exist for skilled investors who can capitalize on market volatility. MVRV Ratio Offers A Different Perspective Another factor that could entice some investors is the negative Market Value to Realised Value (MVRV) ratio for XRP. This metric essentially compares the current market price of XRP with the average price at which all XRP tokens were acquired. A negative MVRV ratio suggests that XRP is currently undervalued, potentially presenting a buying opportunity for investors seeking assets trading below their historical price points. Related Reading: Ethereum Bloodbath: Over $55 Million In Longs Liquidated As Price Plummets XRP Price Forecast Meanwhile, the current XRP price prediction indicates a 20% rise to $0.626627 by July 1, 2024, despite a bearish market sentiment reflected by technical indicators. The Fear & Greed Index at 72 shows high investor greed, suggesting strong buying behavior but also a risk of overbought conditions and potential price corrections if sentiment shifts. Over the last 30 days, XRP has had almost an equal number of days with price increases (47%). This shows a balance between buying and selling pressures. The price has fluctuated by 2%, indicating mostly stable but noticeable changes. This balance suggests the market is steady, contributing to the current bearish outlook despite a positive long-term price prediction. Featured image from Verywell Mind, chart from TradingView