This week is shaping up to be critical for the broader crypto market, marked by a prevailing sense of caution as prices consolidate ahead of their next direction. According to market analysis firm Bull Theory, the forthcoming Federal Open Market Committee (FOMC) meeting is on the horizon, and its outcome will largely hinge on the economic data released this week. Stability Or Further Pressure For Crypto? The Federal Reserve (Fed) has two primary mandates: to maintain inflation around 2% and to support employment levels. Currently, the landscape appears challenging, with rising unemployment juxtaposed against persistent inflation. Related Reading: Solana Rally in Sight? Traders Eye Breakout That Could Push SOL Toward $250 On September 9, the Bureau of Labor Statistics will revise the previous year’s non-farm payrolls (NFP). This annual revision often reveals downward adjustments, indicating weaker job growth than initially reported. For instance, last August, the revision was significantly lower than expected, with a downward adjustment of 818,000 jobs—the second worst in US history. This prompted the Fed to implement a more aggressive 50 basis point cut instead of the anticipated 25 basis points. If this repeats, it could raise the likelihood of another substantial cut, which would be viewed positively for liquidity and, by extension, the crypto market. The Producer Price Index (PPI) report, scheduled for September 10, will provide insights into inflation at the business level. A PPI reading that meets or falls below expectations is likely to boost market sentiment, while a higher-than-expected figure could dampen it. Last month, the PPI was unexpectedly high, coinciding with Bitcoin’s (BTC) peak near $124,000 before it began to cool. A softer PPI this time could grant the Fed more leeway to implement cuts, alleviating pressure on cryptocurrencies. Three Scenarios For Fed’s Upcoming Rate Cut Decision Following that, on September 11, the Consumer Price Index (CPI), a key inflation gauge, will be released. If CPI readings come in hotter than anticipated, it complicates the Fed’s decision-making process. For the crypto market, a CPI result at or below expectations would be the most favorable outcome. Also on September 11, initial jobless claims will be reported, indicating how many individuals filed for unemployment benefits last week. A higher-than-expected figure would signal weakness in the job market, thereby increasing pressure on the Fed to act. As all eyes turn to the FOMC meeting, the data collected this week will be instrumental in determining whether the Fed opts for a 25 basis point or a more aggressive 50 basis point cut. Related Reading: Dogecoin Leads Altcoin Rally Amid ETF Speculation: Is $1.50 the Next Big Target? There are three potential scenarios that could unfold. The first, a larger cut of 50 basis points, is likely if the NFP is sharply revised downwards, CPI and PPI data are soft, and jobless claims are high. This scenario, which indicates a rapidly weakening economy, could provide robust liquidity support for the market. However, the Bull Theory estimates this outcome has a 20%-25% probability. The second scenario, a standard cut of 25 basis points, appears more probable, with a 70%-74% chance. This would occur if NFP revisions are moderately weaker, CPI is slightly elevated, and jobless claims remain steady. While this would still be positive for crypto, it may not yield the same liquidity burst as a 50 basis point cut. Lastly, a scenario where the Fed pauses or delays changes is also possible. The firm asserts that if NFP data holds steady, CPI readings are hotter than expected, and jobless claims decrease, the Fed might take a more cautious approach, potentially leading to short-term pressures and further consolidation for Bitcoin and altcoins. Featured image from DALL-E, chart from TradingView.com
Kazakhstan is making a bold move into the digital age, with plans to launch a state-backed cryptocurrency reserve and implement sweeping fintech reforms by 2026. President Kassym-Jomart Tokayev aims to integrate cryptocurrencies and tokenized assets into the country’s financial backbone, making Kazakhstan one of the few nations openly backing crypto at a national level. National …
The largest corporate Ether holder, BitMine, backed Eightco Holdings' $270 million plan to buy and hold the token of the eyeball-scanning crypto project Worldcoin.
Reports claiming Binance had stopped all withdrawals, including XRP, spread quickly across crypto social media this week. But a closer look shows the story is not what it seems. Binance has not halted all withdrawals. Instead, the exchange faced minor pauses on select assets, largely tied to a broader security scare. Platform activity otherwise continues …
What is Giwa? South Korea’s biggest crypto exchange, Upbit, has sparked excitement with a teaser for a new blockchain project called “Giwa.” The teaser site only shows the phrase “trusted structure, not just shape” along with a countdown. The full reveal is expected at the upcoming Upbit Developer Conference. Crypto Community Buzz The lack of …
Christie’s auction house is reportedly closing its digital art department, but will continue to auction NFTs under a broader category.
Ant has helped three projects raise roughly $42 million through RWA tokenization, according to the Bloomberg report.
Early momentum carried price to a $0.244 peak, but heavy profit-taking reversed gains by session close at $0.236.
Solana started a fresh increase above the $212 zone. SOL price is now consolidating above $210 and might aim for more gains above the $218 zone. SOL price started a fresh upward move above the $202 and $210 levels against the US Dollar. The price is now trading above $210 and the 100-hourly simple moving average. There is a bullish trend line forming with support at $212 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could extend gains if it clears the $218 resistance zone. Solana Price Eyes Additional Gains Solana price started a decent increase after it found support near the $200 zone, beating Bitcoin and Ethereum. SOL climbed above the $205 level to enter a short-term positive zone. The price even smashed the $212 resistance. The bulls were able to push the price above the $215 barrier. A high was formed at $218 and the price is consolidating gains. There was a minor drop below the 23.6% Fib retracement level of the upward move from the $199 swing low to the $217 high. Solana is now trading above $210 and the 100-hourly simple moving average. There is also a bullish trend line forming with support at $212 on the hourly chart of the SOL/USD pair. On the upside, the price is facing resistance near the $218 level. The next major resistance is near the $220 level. The main resistance could be $232. A successful close above the $232 resistance zone could set the pace for another steady increase. The next key resistance is $244. Any more gains might send the price toward the $250 level. Downside Correction In SOL? If SOL fails to rise above the $218 resistance, it could start another decline. Initial support on the downside is near the $212 zone. The first major support is near the $208 level or the 50% Fib retracement level of the upward move from the $199 swing low to the $217 high. A break below the $208 level might send the price toward the $204 support zone. If there is a close below the $204 support, the price could decline toward the $200 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support Levels – $212 and $208. Major Resistance Levels – $218 and $220.
Formerly MakerDAO, Sky joins Paxos, Frax, Agora and Native Markets in the fight for Hyperliquid’s stablecoin contract.
Worldcoin (WLD) has seen a 40% daily jump following Eightco’s announcement of the first WLD treasury strategy in the world. Amid the rally, some analysts suggest that the cryptocurrency could see a 200% run to the December highs. Related Reading: ‘Corporate’ Altcoin Season? Expert Shares How Crypto ETFs, Treasuries Could Change The Market Eightco Unveils First Worldcoin Treasury Strategy On Monday, public e-commerce infrastructure firm Eightco Holdings Inc. announced it has secured a $250 million private placement to implement the first-of-its-kind Worldcoin treasury strategy. According to the press release, Eightco’s capital raise involved the sale of 171.2 million shares of common stock at $1.46 per share, with an additional 13.7 million shares issued to BitMine, the largest Ethereum (ETH) treasury company, at the same price. On September 8, BitMine announced a $20 million strategic investment into Eightco Holdings Inc. (NASDAQ: OCTO) as part of OCTO’s $270 million private investment in public equity. BitMine’s investment marks the start of its “Moonshot” strategy, aiming to allocate 1% of the company’s balance sheet into projects to strengthen the Ethereum ecosystem and create value for BitMine equity shareholders. Thomas “Tom” Lee, Chairman of BitMine, noted that the company “wants to support and back innovative projects that create value for the Ethereum network. As an ERC-20 native token, World is aligned with Ethereum. World’s unique zero-knowledge Proof of Human credential could be essential to future trust and safety between technology platforms and their billions of human users.” Eightco stated that proceeds from the private placement will allow the company to adopt Worldcoin as its primary treasury reserve asset. It added that the treasury may also hold ETH as a secondary reserve asset, but the primary emphasis will be on WLD. “Worldcoin will serve as the Company’s primary treasury reserve asset. In connection with the closing of the offering, the Company intends to change the Nasdaq trading symbol of its common stock to ‘ORBS’, which is expected to take effect on September 11, 2025,” the press release reads. WLD Breakout Eyes 200% Rally Following the announcement, Worldcoin broke above the $1.50 barrier, hitting a three-month high of $1.58 and nearing a crucial resistance level. The cryptocurrency has been accumulating between the $0.60-$1.60 price range for the past seven months, failing to break out of this range during the May and August rallies. However, WLD has been recently gaining momentum, with its price surging around 30% over the weekend and reclaiming the $1.00 mark. Market watcher Alpha Crypto Signals noted that Worldcoin broke out of a nearly two-month falling wedge on the daily chart, signaling a potential trend shift for the token. They highlighted that WLD reclaimed the 9 EMA after the breakout, and the push beyond key resistance levels gave bulls the upper hand, adding that “WLD buyers took control exactly as anticipated.” Meanwhile, analyst LlucianoBTC pointed out a four-month falling wedge on WLD’s chart, affirming that Worldcoin is targeting a “spectacular” rally once the breakout is confirmed. According to the chart, the cryptocurrency has broken out of the formation’s resistance at $1.20 after two failed attempts, which could send the price to last year’s highs if momentum holds. Related Reading: Ethereum Price To Clear $5,000 If This Level Is Broken Similarly, Captain Faibik asserted that Worldcoin was on the verge of a multi-year trendline breakout on the daily chart, targeting a 200% rally to the December 2024 high, around the $4.00 area. Since then, the cryptocurrency has broken out of the major resistance and is attempting to reclaim the $1.50 level as support. As of this writing, Worldcoin is trading at $1.51, a 73% increase in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
MYX Finance price is currently trading at $13.12, extending its bullish momentum as traders eye higher resistance levels. The token has shown resilience around the $12 zone, attracting fresh buying interest and pushing it closer to a breakout above key barriers. With strong community backing and improving technical indicators, MYX price is positioning itself for …
Support has held firm above $2.88, but repeated failures near $2.99 highlight how institutional flows are dictating short-term ranges.
South Korean crypto exchange Upbit confirmed it has launched Giwa, an Ethereum layer 2 on testnet, focused on one-second block times and optimizing user experience.
ARK Invest purchased more than 100,000 Bitmine shares after the Ethereum treasury company reached a milestone in ETH holdings.
Worldcoin (WLD) surged more than 50% in the past 24 hours and 100% in the last week, lifting its price to $1.82 and putting the $2 threshold within reach. The latest jump follows institutional interest and a treasury announcement that has shifted attention back to the project. Treasury Support Signals Commitment On September 8, Eightco …
BitMine is the largest public holder of Ethereum, with approximately 1.78 million ETH, leading the growing trend of ETH treasuries.
XRP price is up over 5% and has tested the $3.00 resistance. The price is now consolidating gains and might correct lower if stays below $3.00. XRP price is facing hurdles and struggling to clear the $3.00 resistance. The price is now trading above $2.90 and the 100-hourly Simple Moving Average. There is a bullish trend line forming with support at $2.930 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to rise if it stays above the $2.860 zone. XRP Price Gains Traction XRP price managed to stay above the $2.850 level and started a fresh increase, beating Bitcoin and Ethereum. The price climbed above the $2.880 and $2.90 resistance levels. The bulls even pumped the price above the $2.950 level. A high was formed at $2.994 and the price is now consolidating gains. It is testing the 23.6% Fib retracement level of the upward move from the $2.794 swing low to the $2.994 high. The price is now trading above $2.920 and the 100-hourly Simple Moving Average. Besides, there is a bullish trend line forming with support at $2.930 on the hourly chart of the XRP/USD pair. If the bulls protect the $2.930 support, the price could attempt another increase. On the upside, the price might face resistance near the $2.980 level. The first major resistance is near the $3.00 level. A clear move above the $3.00 resistance might send the price toward the $3.050 resistance. Any more gains might send the price toward the $3.120 resistance. The next major hurdle for the bulls might be near $3.150. Another Decline? If XRP fails to clear the $2.980 resistance zone, it could continue to move down. Initial support on the downside is near the $2.930 level and trend line. The next major support is near the $2.8920 level or the 50% Fib retracement level of the upward move from the $2.794 swing low to the $2.994 high. If there is a downside break and a close below the $2.8920 level, the price might continue to decline toward $2.860. The next major support sits near the $2.850 zone, below which the price could gain bearish momentum. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $2.930 and $2.860. Major Resistance Levels – $2.980 and $3.00.
Bitcoin long-term holders aged between 5 to 7 years old have lost $6.4 billion in Realized Cap over the past year, but selling isn’t behind the fall. 5 To 7 Years Old Bitcoin Holders Have Been Maturing To Even Older Bands In a new post on X, on-chain analytics firm Glassnode has talked about how the Realized Cap associated with the 5 to 7 years old Bitcoin investors has changed over the past year. Related Reading: Cardano Pushes Past $0.85: Falling Wedge Breakout Confirmed? The “Realized Cap” here refers to an indicator that basically measures the amount of capital that the investors of the cryptocurrency have put into it. As such, changes in the metric correspond to the exit or entry of capital into the network. In the context of the current topic, the Realized Cap of the whole market isn’t of interest, but rather that of a few specific investor segments. These are the holders with 5 to 7 years old, 7 to 10 years old and 10+ years old tokens. Statistically, the longer an investor holds onto their coins, the less likely they become to sell them in the future, so these groups with their extremely long holding times would correspond to some of the most resolute hands in the sector. What the behavior of these investors is like, therefore, can be something to watch for. Below is a chart showing the trend in the Realized Cap for these Bitcoin groups. As displayed in the above graph, the Realized Cap associated with the youngest of these groups, the addresses holding coins aged between 5 and 7 years old, has seen a steep drop over the past year. The metric started out the window at a level of $14.9 billion, but today, it stands at just $8.5 billion, reflecting a decline of almost 43%. Investor groups classified based on age lose Realized Cap when they break their dormancy and participate in transactions. For example, as soon as a holder part of the 5 to 7 years old segment shifts their coins, the age of said tokens resets back to zero, and they along with their Realized Cap share get kicked out of the group. There’s one more way for the metric to decline for a cohort, however: upward promotion. This happens when an investor HODLs past the upper bound of the group’s age range. From the chart, it’s visible that the combined Realized Cap associated with the 5 to 7 years, 7 to 10 years, and 10+ years segments has actually gone up over the past year, despite the first of them noting a steep drop in its metric. Since capital can’t directly transfer to the latter two groups, it must have gone through the former. Related Reading: Old Bitcoin Supply Keeps Moving Into ETFs: Data Shows Three Waves So far In other words, almost all of the “selling” that the 5 to 7 years group has participated in has actually corresponded to diamond hands holding steady enough to pass on to a higher cohort. As Glassnode has pointed out, though, this doesn’t mean that the cohort hasn’t participated in any real selling at all. “The 5–7y group still spent ~385k $BTC in profit over the year, showing that while most coins matured passively, some holders selectively distributed,” notes the analytics firm. BTC Price At the time of writing, Bitcoin is trading around $112,400, up 3% over the past week. Featured image from Dall-E, Glassnode.com, chart from TradingView.com
XRP is once again pressing against the $3 mark, a level that has become a battleground for bulls and bears. The token has managed to reclaim ground in recent days, climbing back over $2.85 after a period of weakness, but the question now is whether it can break through resistance that has capped rallies for …
Ethereum price started a fresh recovery wave above the $4,350 zone but failed. ETH is still struggling and might slide below the $4,270 zone. Ethereum is still struggling to recover above the $4,400 zone. The price is trading below $4,350 and the 100-hourly Simple Moving Average. There was a break below a bullish trend line with support at $4,290 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a strong decline if it settles below the $4,220 level in the near term. Ethereum Price Could Slide Further Ethereum price started a recovery wave after it formed a base above the $4,220 zone, like Bitcoin. ETH price was able to climb above the $4,300 and $4,320 resistance levels before the bears appeared. The price struggled to clear the $4,400 level. A high was formed at $4,383 and the price started to decline again. There was a move below the $4,320 support level. The price dipped below the 50% Fib retracement level of the recent increase from the $4,234 swing low to the $4,383 high. Besides, there was a break below a bullish trend line with support at $4,290 on the hourly chart of ETH/USD. Ethereum price is now trading below $4,320 and the 100-hourly Simple Moving Average. On the upside, the price could face resistance near the $4,320 level. The next key resistance is near the $4,360 level. The first major resistance is near the $4,400 level. A clear move above the $4,400 resistance might send the price toward the $4,440 resistance. An upside break above the $4,440 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,500 resistance zone or even $4,550 in the near term. More Downside In ETH? If Ethereum fails to clear the $4,360 resistance, it could start a fresh decline. Initial support on the downside is near the $4,270 level. The first major support sits near the $4,220 zone. A clear move below the $4,220 support might push the price toward the $4,200 support. Any more losses might send the price toward the $4,160 support level in the near term. The next key support sits at $4,120. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $4,220 Major Resistance Level – $4,360
Dogecoin flashes a bullish signal after crashing through the Kumo. However, with the $0.23 resistance in the spotlight, the question remains: Can DOGE clear this hurdle and rekindle its rally momentum? Cloud Turns Support: Kumo Now Shields Bitcoin Price Action In a recent analysis shared on X, crypto analyst Trader Tardigrade provided an updated technical outlook on DOGE’s price action using the Ichimoku indicator. The analysis points to a significant development: a Kumo breakout, which has triggered a long trade signal for the cryptocurrency. Related Reading: Dogecoin Mega Rally Ahead? Crypto Analyst Says $4 Is In Play The analyst explained that this breakout is a crucial turning point, as the Kumo, or “Cloud,” which previously acted as resistance, is now a key support zone for Dogecoin. Trader Tardigrade also specified the key support and resistance levels for Dogecoin based on the Ichimoku chart. The new support zone is highlighted by the Kumo itself, with a range of $0.21517 to $0.22661. This area is now expected to hold the price during any potential pullbacks. On the other hand, the immediate resistance is identified at $0.23804, which corresponds with the Ichimoku’s Kijun-sen line. A successful breakout above this level would confirm the bullish momentum and could lead to further gains for Dogecoin, according to the analysis. Trend Analysis Based on Trader Tardigrade’s analysis, the various components of the Ichimoku indicator present a mixed picture for Dogecoin’s trend, ultimately resulting in a neutral overall outlook. This complexity is revealed through a point-based system that scores the individual trend signals. Related Reading: Dogecoin Holds Support as Analysts Eye Technical Setup That Could Trigger a $2 Super Rally The first positive signal is the Kumo color, which is green, indicating a bullish bias. This is a key indicator within the Ichimoku system, as a green cloud signals that the faster-moving Senkou Span A is above the slower Senkou Span B, suggesting an upward momentum in the medium to long term. However, the analysis also points to conflicting signals. While the mid-term trend is bullish, with the price remaining above the Kumo, the short-term trend is currently bearish, as the price is trading below the Kijun-sen. In the long term, the trend is also negative. This is indicated by the Chikou Span being below the current price. The Chikou Span, or lagging span, compares the current price to the price 26 periods ago. When it is below the current price, it suggests that the current momentum is weaker than the momentum from a month ago, indicating a potential long-term downtrend. With an overall score of zero after adding up the conflicting signals, the analysis concludes that Dogecoin is currently in a state of consolidation, without a clear directional bias at this time. Featured image from Getty Images, chart from Tradingview.com
Sky, formerly Maker, is the fifth major crypto protocol to propose to help issue and manage USDH, a planned stablecoin from Hyperliquid.
Bitcoin price is struggling to recover above $112,500. BTC is now consolidating and might decline if there is a move below the $110,800 level. Bitcoin started a recovery wave above the $110,800 zone. The price is trading above $111,000 and the 100 hourly Simple moving average. There is a bullish trend line forming with support at $110,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another decline if it stays below the $113,000 zone. Bitcoin Price Faces Key Hurdles Bitcoin price started a fresh recovery wave from the $110,000 zone. BTC managed to climb above the $110,800 and $111,200 resistance levels. The bulls were able to push the price above the 50% Fib retracement level of the key decline from the $113,372 swing high to the $110,039 low. However, the bears remained active near the $112,600 zone and prevented more gains. The 76.4% Fib retracement level of the key decline from the $113,372 swing high to the $110,039 low acted as a resistance. Bitcoin is now trading above $111,000 and the 100 hourly Simple moving average. Besides, there is a bullish trend line forming with support at $110,800 on the hourly chart of the BTC/USD pair. Immediate resistance on the upside is near the $111,750 level. The first key resistance is near the $112,000 level. The next resistance could be $112,550. A close above the $112,550 resistance might send the price further higher. In the stated case, the price could rise and test the $113,000 resistance level. Any more gains might send the price toward the $114,200 level. The main target could be $115,000. Another Decline In BTC? If Bitcoin fails to rise above the $112,550 resistance zone, it could start a fresh decline. Immediate support is near the $110,800 level and the trend line. The first major support is near the $110,500 level. The next support is now near the $110,000 zone. Any more losses might send the price toward the $108,800 support in the near term. The main support sits at $107,500, below which BTC might decline sharply. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $110,800, followed by $110,000. Major Resistance Levels – $112,550 and $113,000.
Upbit is one of world's largest crypto exchanges despite being limited to local investors, with $2.25 billion trade volume in the past day.
Solana (SOL) experienced a notable 6% price increase to start the week, following the announcement of a new initiative involving three major players in the crypto sector: Galaxy Digital, Jump Crypto, and Multicoin Capital. This collaboration aims to establish a new Solana treasury. $1.65 Billion PIPE Offering To Establish Solana Treasury In a revelation made earlier on Monday, Forward Industries (FORD) disclosed its plans for a private investment in public equity (PIPE) offering, with commitments totaling $1.65 billion in cash and stablecoins. This offering is being spearheaded by crypto-focused investment manager Galaxy Digital, Jump Crypto, and Multicoin Capital, all of which will provide vital capital for the new treasury fund. Financial advisor C/M Capital Partners will also participate in this venture. By leveraging the expertise and resources of Galaxy Digital, Jump Crypto, and Multicoin, Forward Industries aims to generate increased on-chain returns and enhance long-term shareholder value through active participation in Solana’s growth. Related Reading: Dogecoin Leads Altcoin Rally Amid ETF Speculation: Is $1.50 the Next Big Target? Michael Pruitt, CEO of Forward Industries, expressed his view about the initiative, stating, “Our strategy to build an active Solana treasury program underscores our conviction in the long-term potential of SOL and our commitment to building shareholder value by directly participating in its growth.” As part of this initiative, Kyle Samani, co-founder and Managing Partner of Multicoin, is expected to assume the role of Chairman of the Board of Directors upon the closing of the PIPE. Samani, who has been a long advocate of the Solana protocol, believes that the platform is often “misunderstood and undervalued,” stating: Real economic value is being generated on Solana. An institutional-scale treasury can be deployed in sophisticated ways within the Solana ecosystem to create differentiated value and increase SOL per share at a faster rate than simply being a passive holder.” Galaxy’s President and Chief Investment Officer, Chris Ferraro, along with Saurabh Sharma, Chief Investment Officer at Jump Crypto, are also anticipated to join as Board observers. SOL Strategies Set For Nasdaq Debut Mike Novogratz, Founder and CEO of Galaxy, expressed confidence in the initiative, stating that with the leadership of Samani, Ferraro, and Sharma, Forward Industries is poised to distinguish itself as a leading publicly traded entity within the SOL ecosystem. Jump Crypto’s Sharma echoed this sentiment, expressing excitement about Forward Industries’ strategy centered on Solana. He emphasized the opportunity to offer investors access to innovative on-chain return sources that extend beyond traditional staking, leveraging Solana’s advanced decentralized finance ecosystem. Related Reading: Ethereum Price To Clear $5,000 If This Level Is Broken Notably, the new treasury company will join SOL Strategies. As reported by NewsBTC last week, SOL Strategies was the first Solana treasury firm to receive approval for listing on the Nasdaq under the ticker symbol “SRKTE.” Trading is expected to begin on Tuesday. With the formation of the new treasury company, SOL’s price skyrocketed toward the key $215 line, outperforming its peers in the top 10 largest cryptocurrencies, including Bitcoin (BTC). However, SOL still trades 27% below the $293 record reached earlier this year. Featured image from DALL-E, chart from TradingView.com
Nasdaq-listed Lion Group currently holds 6,629 Solana and over one million Sui and plans to gradually convert it all into Hyperliquid tokens.
Rate-cut optimism and gold’s rally have not spilled into crypto, where positioning stays defensive and near-term direction hinges on the inflation report.
An adviser to Russian President Vladimir Putin is accusing the Trump administration of using stablecoins and gold to devalue its $37 trillion in outstanding debt.
Cardano has just seen a surge beyond the $0.85 mark, potentially confirming a bullish breakout forming in the asset’s 4-hour price chart. Cardano Is Breaking Out Of A Falling Wedge Pattern In a new post on X, analyst Ali Martinez has talked about a technical analysis (TA) pattern forming in the 4-hour price of Cardano. The pattern in question is a “Falling Wedge,” which belongs to the broader class of Wedges. Related Reading: Old Bitcoin Supply Keeps Moving Into ETFs: Data Shows Three Waves So far Wedges form whenever an asset travels between two converging trendlines. When the lines are sloped upward, the formation is known as a Rising Wedge. Similarly, price action to the downside creates a Falling Wedge. Wedges sound similar to Triangles, which also involve converging trendlines, but the key difference between the two is that Triangles are consolidation patterns, while Wedges involve some net movement up or down. Just like with Triangles, though, the trendlines of the channel act as support/resistance barriers for the price. Also, a breakout of either of these bounds can imply a continuation of the trend in that direction. Generally, Wedges are considered more likely to lead to reversals. A Falling Wedge may see the price eventually break past the upper line, while a Rising Wedge could end with a breakdown of support. Cardano has recently been moving inside a channel similar to a Falling Wedge. Below is the chart shared by Martinez, showcasing the formation. At the time the analyst posted the graph, Cardano was beginning to show signs of a surge beyond the resistance line of this Falling Wedge. The breakout attempt came as the asset was closing in on the convergence point of the trendlines. Near the apex of such patterns, price action occurs inside a tight range, so breakouts can become more likely. This could be what was developing for ADA at the time. Martinez noted in the post that the cryptocurrency must break past $0.84 to confirm the bullish breakout. Since then, ADA has surged further, reaching the $0.85 level. Thus, it’s possible that a sustainable break could really be kicking off for the coin, at least if the Falling Wedge is anything to go by. Related Reading: Safe Haven Split: Bitcoin-Gold Correlation Turns Negative For First Time In 6 Months While Cardano is witnessing this Falling Wedge, fellow altcoin Solana has been traveling inside a Rising Wedge instead, as pointed out by the analyst in an earlier X post. As displayed in the chart, Solana has been trading inside this Rising Wedge for a few months now and is slowly inching toward the end of it. If the pattern is going to be a reversal one, then a bearish breakout may be coming for SOL. ADA Price At the time of writing, Cardano is floating around $0.851, up almost 4% over the last seven days. Featured image from Dall-E, charts from TradingView.com