ETHUSDT looking Bearish in short termHello Friends, ETHUSDT is bearish in short term however the same is bullish on long term weekly/monthly charts. Its currently buying on dips. Next buying should be around 1380 Range. So keep watching.
Search in ideas for "Ethereum"
Solana Beats ETH In Profitability For The First Time: What’s NexSolana Beats ETH In Profitability For The First Time: What’s Next
Solana's profitability outshines Ethereum, crossing the $2M mark in economic value, while Ethereum sees a post-peak downturn due to the EIP-4844 rollout.
Post-event optimism has fueled investor confidence, casting the $200 threshold as the new benchmark for Solana's ascent.
Solana has surpassed Ethereum in terms of profitability for the very first time. As per Leon Waidmann who is a popular on-chain analyst highlighted that Solana recently eclipsed Ethereum in daily economic value.
He further added that the analysis does not include Ethereum's role as a medium of exchange and energy source on its various Layer 2 (L2) solutions.
t.co Leon Waidmann | On-Chain Insights🔍 (@LeonWaidmann) May 15, 2024
This development underscores Solana's escalating influence within the blockchain sphere and suggests a possible shift in the dominance among top blockchain platforms.
Let's delve into the implications of Solana's remarkable progress and its potential effects on the future valuation of SOLNA crypto.
The Tectonic Shift in Blockchain: Solana's Emergence
A detailed examination of Solana and Ethereum's economic values revealed that from February to May 2024, Ethereum's economic value soared to FWB:40M before experiencing a decline, eventually leveling out between $10M and $15M.
In contrast, Solana demonstrated a consistent upward trajectory, ultimately eclipsing Ethereum with an economic value slightly above $2M by May 12, signifying a pivotal shift in the blockchain landscape.
For the first time ever, @solana has recently eclipsed @ethereum in daily economic value or "revenue" for Boomers.Friendly reminder that CRYPTOCAP:SOL is currently 1/5th the value of CRYPTOCAP:ETH . pic.twitter.com/darZVOXDYz— ◢ J◎e McCann 🧊 (@joemccann) May 14, 2024
The term "total economic value" encapsulates the aggregate value of all network transactions over a given timeframe, encompassing transfers, trades, and smart contract engagements, thereby serving as a barometer for the blockchain's comprehensive activity and practicality.
Moreover, Solana's capacity to process thousands of transactions per second (TPS) at a substantially lower cost than Ethereum has rendered it a preferred platform for various applications, including decentralized finance (DeFi), non-fungible tokens (NFTs), and decentralized applications (dApps). This increase in utilization and adoption has played a crucial role in Solana's landmark accomplishment.
Investors Fueled Confidence: Can Solana Eye $200 As Next Milestone?
At the time of writing, Solana had reported a positive development of 7.07% intraday, surpassing the 50-day exponential moving average. Despite this gain, it remains within bearish zones. The immediate resistance is at the $160 mark, and overcoming this could pave the way to further gains, potentially reaching $175 and the significant $200 milestone.
Should Solana break past the $160 resistance, it could signal the conclusion of its corrective trend, potentially initiating a bullish phase that might lead to a new high for the year. Nonetheless, a broader market rally would be essential to sustain this upward momentum.
ETHUSD Will Consensys’ comments help in getting Ether ETF approvOn March 8, 2024, the Security and Exchange Commission (SEC) requested public comments on Nasdaq’s pending applications to permit the approval of a spot Ethereum exchange-traded fund (ETF). In response to the SEC’s request for public comments regarding the approval of Ether ETF applications, advocates of Ethereum have submitted a comprehensive letter addressing concerns about fraud and manipulation.Ethereum Advocates’ response to the SEC’s concern
However, the SEC’s inquiry specifically questioned whether Ethereum’s Proof of Stake (PoS) consensus mechanism and concentration of control raise unique concerns regarding vulnerability to fraudulent activities. Following the SEC’s question advocates highlighted Ethereum’s robust security measures, surpassing those of Bitcoin’s Proof of Work (PoW) model, which forms the basis of previously approved Bitcoin ETFs.
These are the key highlights included in response to the SEC’s concerns regarding the fraudulent activities:
Faster Block Finality: Ethereum’s transition to PoS ensures faster block finality, where transactions are irreversibly confirmed in a shorter timeframe compared to PoW.
Distributed Validation Process: Ethereum PoS divides block validation duties among proposers and attesters, preventing centralized control and manipulation.
Total Cost to Attack: Research indicates that Ethereum’s Byzantine fault tolerance makes network compromise significantly more costly compared to Bitcoin.
Slashing Penalties: Ethereum penalizes validators who violate protocol rules through stake deductions, serving as a deterrent against malicious behavior.
Environmental Benefits: Ethereum’s PoS model is environmentally friendly compared to Bitcoin’s energy-intensive PoW, consuming significantly less energy.
Additionally, Ethereum’s decentralized community and transparent development process contribute to its security and resilience against attacks. Advocates also urged the SEC to recognize Ethereum’s advanced safeguards, which meet and exceed the security standards of previously approved Bitcoin-based ETPs.
The submission reflects the advocates’ commitment to advancing Ethereum’s adoption and fostering constructive discussion with regulatory authorities. However, this letter marks a significant step in promoting awareness and understanding of Ethereum’s security features, aiming to facilitate the approval of ether ETFs and onboard the next billion users to web3.Will ETH ETF approval impact Ethereum price?
However, following the approval of the spot Bitcoin ETF, the crypto community is eagerly awaiting the approval of the spot ETH ETF. It is also expected that once the ETF is approved, similar to the Bitcoin ETF, Ethereum will also reach its all-time high.
Ethereum is trading near the $3,500 level, and in the last 24 hours, it experienced a downside momentum of nearly 2%. If we look at Ethereum’s performance over a longer period, in the last 7 days, the price of Ethereum experienced only a 4% upside momentum. Whereas, in the last 30 days, it has remained neutral with a 0.4% momentum. © Todayq News
ETHERUEM NAME SERVICETargets and stop are on the chart.
make sure you set your stop order!
ENS can make 3x from here in long term.
good luck.
SUSHI tp1 100%Sushi’s future plans include the development of a Franchise Pool, which promises to merge CEXs and DEXs for mutual benefit.
Franchise Pool will be differentiated from the main Trident AMM and will allow institutions to be whitelisted for liquidity provision and swapping.
Additionally, the Trident implementation will allow proof of storage to be presented to give two simultaneous snapshots of the cumulative price using TWAP.
The project has also re-located the Kashi implementation and is currently deployed on Polygon, as well as working on a gas-fee-efficient version on Ethereum. The benefit of TWAP is that it is a fully decentralized, trustless Oracle for assets.
ETHUSD SHOWING A GOOD UP MOVE WITH 1:8 RISK REWARD ETHUSD SHOWING A GOOD UP MOVE WITH 1:8 RISK REWARD
DUE TO THESE REASON
A. its following a rectangle pattern that stocked the market
which preventing the market to move any one direction now it trying to break the strong resistant lable
B. after the break of this rectangle it will boost the market potential for break
C. also its resisting from a strong neckline the neckline also got weeker ald the price is ready to break in the outer region
all of these reason are indicating the same thing its ready for breakout BREAKOUT trading are follws good risk reward
please dont use more than one percentage of your capitalfollow risk reward and tradeing rules
that will help you to to become a bettertrader
thank you
ETHUSD View!!Last night, social media was rocked by some pretty big news, as some may already know — the arrest of Telegram founder Pavel Durov. It all started when Durov landed on a private jet in France to refuel, where he was reported wanted minutes before landing. In total, the charges have the billionaire facing up to 20 years in French prison, considering that Durov is also a citizen of that country.
The situation has received an enormous amount of commentary from every respectable figure in the tech space, and crypto in particular. The most interesting of them seems to be the opinion of Vitalik Buterin, the co-founder of Ethereum.
3 Key Reasons Why Fantom May Be A Good Pick For Next Week3 Key Reasons Why Fantom May Be A Good Pick For Next Week
Meta Description: Fantom price gained traction and surged higher after the bulls initiated a recovery
The Open Interest contracts have jumped by 50% to $75 Million indicating an accumulation at the lower levels.
The transaction volume has surged from $50 Million to $200 Million a day in the recent sessions.
Fantom price gained traction and surged higher after the bulls initiated a recovery from the lows. At the time of writing, Fantom was exchanging hands close to $0.38 level recording a positive intraday development of nearly 5%.
Along with a strong rebound in the price, there are few on-chain metrics which have recorded a notable shift in the recent sessions. The investors sentiment seemed to be improving as the OI data indicated an inflow.
Also, the transaction volume has improved indicating a heightened demand and increased user engagement. However, the long term trend outlook still lies on the bearish side adding a risk of rejection in the price at the higher levels. Let's analyze it and try to get a clear picture about the possible price trajectory.
OI Data Reveals A 50% Inflow
In the 1st week of August, Fantom price noted a sharp downturn following the broader market crash. During this period, the Open interest contracts dropped to $47 Million.
The Open interest contract is an on-chain metrics which monitors the total number of open positions in a specific cryptocurrency contract. It also indicates the liquidity and interest in a particular crypto contract.
Source: app.santiment.net
As per the data obtained from an on-chain analytics website app.santiment.net, the number of open contracts saw an impressive 50% growth a week. The OI data surged from $50 Million to $75 Million indicating an improvement in the Investors confidence.
Fantom Crypto Volume Analysis
The volume analysis highlights that the transaction volume has grown from $50 Million to $200 Million in a week. A strong rise in the volume indicates a heightened demand in the crypto.
Source: app.santiment.net
Moreover, the volume to market capitalization was 12.9% at present indicating high volatility in the crypto. With a live market capitalization of $1.07 Billion Fantom ranks 59th in the crypto space.
Fantom is a smart contract platform providing decentralized finance (DeFi) services to the developers. It is an open source platform designed as an alternative to Ethereum. Out of 3.1 Billion FTM tokens, nearly 2.8 Billion FTM tokens are currently under circulation.
Fantom Price Forecast: Bulls Initiate A Recovery
Moreover, the recent session has observed a consistent buying from the lows indicating the price heading for a recovery. The increased OI data and transaction volume suggests the domination of the bulls in the short term.
However, the long term trend outlook still favors a bearish side as the price lags 45% below the 200 day exponential moving average. As of now, the FTM price has surpassed the 20 day EMA suggesting a bullish outlook in the short term.
Moreover, the daily chart highlights the formation of a falling wedge pattern with the price currently established near the higher boundary. On the higher side, if the price resumes its recovery above the $0.39 level, it may continue to rise towards the next short term target of $0.45.
However, if the price fails to initiate a breakout of the falling wedge pattern and suffers rejection from the higher levels, it may slide towards the lower boundary of the wedge at $0.29 level.
XPR View!! 9Hr!!XRP lost 5.7% of its valuation this week, but at least in this case, the price has been making higher lows, which makes sentiment slightly more optimistic than Ethereum.
The problem with this cryptocurrency is that it has been in a flat trend for years now. Somehow, sellers always stopped buyers’ attempts to take the price towards $1. Faced with this, XRP bounced between the key levels and never left them.
Looking ahead, XRP has good support at around 50 cents, but the resistance at 68 cents has stopped any ambitious buyers since late 2023. Hopefully, 2024 will offer a clear breakout before the end of the year.Cardano (ADA)
Pepe (PEPE)Pepe (PEPE)
Pepe lost nearly 14% a week and claimed the third most underperformer crypto of this week. PEPE/USD chart showcases a falling wedge formation over the daily chart. At the time of writing, Pepe was trading close to $0.0000074 recording a swift 0.04% gain in intraday.
Pepe is a memecoin created as a tribute to Pepe the frog internet meme. It has a deflationary memecoin which was launched on Ethereum. Behind Dogecoin and Shiba Inu, it ranks as the 3rd largest memecoin cryptocurrency with a live market cap of $3.13 Billion.
As of now, Pepe seems to be in a consolidation near the demand zone and the loser boundary of the falling wedge pattern. On the higher side, if Pepe surpasses $0.0000087, it may rise till the $0.0000109.
Fasttoken Achieves New Highs Despite Broader Market Challenges Fasttoken Achieves New Highs Despite Broader Market Challenges
Meta Description: Despite the recent bloodbath in the broader markets, Fasttoken price has surged to record highs.
Fasttoken price has surged to record highs despite recent crashes in the broader markets.
The analysts have noted a divergence between Fasttoken price and Open interest contracts indicating a selloff.
The broader market has been suffering major challenges in the recent sessions. Blue chip cryptocurrencies like Bitcoin and Ethereum are struggling to gain ground after a sharp crash. As of now, Bitcoin was down nearly 11% a week and Ethereum was down 24% a week.
Despite the recent bloodbath in the broader markets, Fasttoken kept on rising continuously and has claimed an all time high status. The price has performed well in the short term adding nearly 8% a week and 54.4% in the last two quarters.
However, The analysts have noted a divergence between Fasttoken price and Open interest contracts which adds the risk of a selloff ahead. However, few analysts correlate it with the further development in the broader market.
Why Is Fasttoken Price Rising?
Despite the significant downturn in the broader market, Fasttoken has resumed its growth to reach an All time high. However, Bitcoin and Ethereum have made a strong rebound rising over 4% indicating signs of recovery in intraday. At the time of writing, Bitcoin was hovering close to $57.37K, whereas Ethereum was exchanging hands close to $2450.
x.com
Moreover, the recent price increase in Fasttoken seems to be derived by several factors. The Fastex platform offers a range of Web3 solutions, including Fastex Exchange, Fastex Pay, and Fastex Wallet, which enhance FTN's utility in digital applications like DeFi and payments.
Additionally, the Proof of Stake and Activity (PoSA) consensus mechanism on the Bahamut blockchain boosts network security and efficiency. This system maintains network integrity and encourages user participation, supporting the platform's ability to handle a growing number of decentralized applications (dApps).
Divergence Between FTN Price And OI Could Trigger Selloff
Despite a strong trend in the Fasttoken price, the analysts have noted a divergence between the FTN price and Open interest data which could trigger a selloff. As per the analysts, there has been a notable drop in the OI data with the price remaining constant in the last couple of sessions.
The OI data has dropped by 25% from $2 Million to $1.5 in the last couple of sessions indicating a long unwinding in the crypto. Despite a 25% drop in the Open interest contracts, FTN price was maintained at the highs.
Also, the transaction volume has dropped by 52.1% to $79.77 Million a day. Also, the volume to market cap ratio at 10.38% suggests mild volatility in the crypto. Out of a total 1 Billion tokens nearly 30% i.e. 304.8 Million FTN tokens are in circulation.
What’s Next For Fasttoken?
Despite all the confluences and panic among the investors due to fear in broader markets, Fasttoken price currently trades at record highs. Hence from a price point of view, the analyst's view is bullish at the moment.
Recently, Fasttoken has noted a strong rise of nearly 9% from $2.27 to $2.52. On the lower side, if FTN price dips below the 50% of the recent uptrend i.e. if the price slumps below the $2.42, it may indicate a weakness over the daily chart.
On the contrary, until the crypto is maintained above the $2.42 level it may continue to conquer higher levels. Also, FTN price is maintained above the key exponential moving averages of 20, 50 and 200 days suggesting a bullish outlook.
A $20 Million Outflow Triggers a Selloff in Mog Coin: What's NexA $20 Million Outflow Triggers a Selloff in Mog Coin: What's Next?
The Open Interest contracts have dropped by 30% adding pressure in Mog Coin.
At the time of writing, Mog Coin was trading close to $0.00000161 recording a negative intraday development of 7.27%.
Mog Coin price is on a four day losing streak snapping off nearly 17% a week. The bulls attempted for a support near the $0.00000185 level however, the weakness in the broader market added more to the worse and the price suffered.
The broader crypto market including the top ones like, Bitcoin, Ethereum, Solana etc. reacted poorly to the launch of spot Ethereum ETF. Bitcoin loomed below GETTEX:64K losing over 2% while Ethereum neared $3100 losing over 5% a day.
The selling pressure in the blue chip cryptocurrencies added more pressure to the altcoins and a strong selloff was observed in the recent sessions. At the time of writing, Mog Coin was exchanging hands close to $0.00000161 losing over 7% a day.
MOG Experienced $20 Million Outflow Recently
Mog Coin had been one of the top weekly gainers in the previous weeks and was on a strong uptrend. However, the recent outflow in the Open Interest contracts have snapped off the recent profits.
As per the data obtained by an on-chain analytics website, there has been an outflow in the Open interest contracts in the last four sessions. The OI has dropped by over 30% in the recent sessions from $65 Million to $45 million losing $20 Million.
The drop in OI data suggests a possible long unwinding due to sudden market turn around. Furthermore, the volume to market cap ratio at 8.15% suggests mild volatility in the crypto. Out of 420.69 Trillion total supply, 85% i.e. 360.4 Trillion MOG tokens are currently under circulation.
Mog Coin Technical Analysis
The recent selling pressure has not invalidated the trend yet. The short term as well as long term trend favors a bullish outlook at the moment. Though the recent selloff has snapped off the profits from the investors portfolio.
However, it might have brought an opportunity for those who had missed the trend earlier. Currently, Mog Coin price hovers above the key 50 day exponential moving average suggesting a bullishness. However, a stability and a possible turnaround in the price is needed to get into longs.
Now if Mog Coin takes a rebound after stabilizing near the 50 day EMA, it may validate a trend continuation and the price may proceed towards the $0.00000254 levels. Also, a bearish crossover between the RSI and 14 day SMA line warns the investors to wait RSI bounces back higher for a bullish crossover.
Can Mog Coin Revive Again?
Mog Coin has dropped 17% in a week due to broader market weakness. Major cryptocurrencies like Bitcoin and Ethereum also suffered reacting poorly to the Ethereum ETF launch. Open interest contracts dropped 30%, indicating possible long unwinding.
Moreover, despite the recent selling pressure, the overall trend remains bullish. Mog Coin is above the 50-day EMA, suggesting potential for a rebound towards $0.00000254. Investors should watch for a bullish RSI crossover before entering long positions.
Keyword: Mog Coin
Meta Description: Mog Coin has dropped 17% in a week due to broader market weakness.
Fantom Gains Momentum with $15 Million Influx: Buy or Wait?Fantom Gains Momentum with $15 Million Influx: Buy or Wait?
The Open Interest has surged by 15% a day indicating improved investors confidence.
Despite a bounce back in the price, the price placed below the 200 day EMA adds a risk of a selloff.
Fantom price overpowered the recent selling pressure and made a strong recovery above the 20 day exponential moving average. Earlier, The price resumed its way towards the recovery after taking a rebound from the $0.40 support.
However, Fantom has to go a long way to recover the earlier losses. The current market scenario highlights a preluding correction phase with the price suffering since Mid March on a broader outlook.
Furthermore, on-chain metrics, Open interest data reveals the strengthening of the buyers near the demand. The increased presence of the buyers may push the price higher to mark an end to the correction phase.
Fantom is an open-source, decentralized platform designed for smart contracts, DApps, and digital assets, offering an alternative to Ethereum. Its primary aim is to address the limitations of earlier blockchains by balancing scalability, security, and decentralization.
$15 Million Inflow Re-establishes Bulls Presence
Fantom Price has been on the rise in the recent sessions after taking a strong bounce from the $0.40 level. As of now, FTM was hovering close to $0.53 rising 13% a week. Recently, FTM price suffered rejection from the 20 day EMA however a significant rise in the Open interest helped FTM overcome the losses and resume its recovery.
The Open Interest contracts have observed a rise of nearly 15% a day as reported by an on-chain analytics website app.santiment.net. The OI data have surged from $94 Million a to $108 Million establishing the buyers presence at the lower levels.
Furthermore, the transaction volume has surged by nearly 8% a day to $116.49 Million. The volume to market cap ratio at 7.90% suggests mild volatility in the crypto. Fantom ranks 60th in the cryptoverse with a live market capitalization of $1.48 Billion.
Can Fantom Break Out Of Correction?
The daily chart highlights the formation of a falling wedge pattern suggesting an ongoing correction phase. Fantom price has been in a correction phase since mid March and has declined over 30% since then.
The recent sessions have observed a bounce back from the lower boundary of the falling wedge pattern. Fantome price bounced back from the $0.4 demand zone and has surpassed the 20 day EMA indicating buyers presence.
However, the bulls need to overcome more hurdles in order to regain control over the trend and a bullish reversal. On the higher side, the 200 day EMA and $0.64 level may act as a strong hurdle.
Now, if the price records a sustained growth above the $0.64 level, it may validate a bullish reversal and end of a correction phase. whereas, if the selling pressure exceeds, FTM may again suffer towards the $0.40 and lower.
Fantom: Should You Buy Now Or Wait?
Fantom price has risen 13% in a week, bouncing from $0.40 to around $0.53. Despite a recent rejection from the 20-day EMA, a 15% increase in Open Interest (from $94M to $108M) and an 8% daily rise in transaction volume ($116.49M) indicate strong buyer presence.
Furthermore, The daily chart showcases a falling wedge pattern, suggesting a correction phase since mid-March. A sustained rise above $0.64 could signal a bullish reversal, while failure to do so might lead to a drop back to $0.40 or lower levels.
Lido DAO Price Set for 30% Increase Amid Growing User InterestLido DAO Price Set for 30% Increase Amid Growing User Interest
An on-chain metrics 24H Active addresses have recorded a 30% rise indicating increased user engagement.
LDO price DAA divergence indicators highlight a positive divergence suggesting a bullish continuation.
Lido DAO price gained traction after stabilizing near the demand zone of $1.5 and surged higher. The LDO token price has been on a five day gaining streak erasing nearly 20% of recent losses.
Despite rising over 20% in the recent session, the long term trend outlook emphasizes being in a correction phase. It adds the risk of price failure at the higher levels. However, few on-chain metrics have signaled a positive development which may derive growth in Lido DAO and may break out of a correction phase.
Lido DAO is a decentralized autonomous organization (DAO) offering staking infrastructure across various blockchain networks. The platform is particularly known for its liquid staking solution for Ethereum.
Users can stake their ETH and receive stETH (Lido staked ETH) tokens in return, which represent their staked ETH and accumulated staking rewards. It has a live market capitalization of $1.75 Billion and ranks 52nd in the cryptoverse.
LDO: 24H Active Addresses On A Rise
Along with a rise in LDO price in the recent sessions, there has been an exponential growth in 24 Hour active addresses. There has been a near 30% jump in the 24 hour active addresses in the recent sessions as per the data obtained from app.santiement.net, an on-chain analytics website.
On a deeper dice, it was observed that the 24 hour active addresses were close to 300 a few days ago which has surged to nearly 380 as of now, suggesting a rise of over 30%. Active addresses represent the number of unique users which have taken part in any transaction in a given period of time.
Additionally, an increased number of active addresses indicate a high user engagement which generally heightens the demand. The volume to market capitalization at 12.46% indicates high volatility.
LDO Price DAA Divergence Analysis
furthermore, price DAA divergence is another on-chain metrics which highlights the further growth in Lido DAO price. This metric measures any positive or negative divergence between LDO price and Daily active addresses.
A positive divergence highlights a growth potential in the price and vice versa. The weekly price vs DAA metrics highlights a positive divergence suggesting a potential growth in LDO price.
Apart from it, other technical indicators i.e. RSI placed at 55.86 points suggests a bullish continuation in the short term. The short term Exponential moving averages 20 and 50 day suggest a bullish continuation whereas, 200 day EMA highlights a bearish trend prevailing.
Can Lido DAO Make A Bullish Reversal?
Lido DAO's token price surged, erasing nearly 20% of recent losses over a five-day gaining streak. Despite this rise, the long-term trend remains in a correction phase, posing risks at higher levels. However, positive on-chain metrics, such as a 30% increase in 24-hour active addresses and price DAA divergence, suggest potential growth.
Additionally, The RSI at 55.86 points indicates short-term bullish continuation. While the 20 and 50-day EMAs suggest a bullish trend, the 200-day EMA highlights a prevailing bearish trend. Key levels to watch are $2.5 for a bullish breakout and $1.5 for potential bearish continuation.
KAVAUSDT Technical Analysis in Weekly TimeframeHello everyone, I’m Cryptorphic.
For the past seven years, I’ve been sharing insightful charts and analysis.
Follow me for:
~ Unbiased analyses on trending altcoins.
~ Identifying altcoins with 10x-50x potential.
~ Futures trade setups.
~ Daily updates on Bitcoin and Ethereum.
~ High time frame (HTF) market bottom and top calls.
~ Short-term market movements.
~ Charts supported by critical fundamentals.
Now, let’s dive into this chart analysis:
KAVA has broken down below an important support trendline and has reached the lower support level at $0.38, which is the all-time low closing back in March 2020.
In this weekly timeframe, if KAVA fails to rebound from the current market price (CMP), we will likely see a further decline toward the all-time low at $0.24. Conversely, a rebound will likely test the resistance (previously supported) of $0.64.
Key Observations:
~ Current Support: $0.38
~ All-time low Support: $0.24
~ Primary Resistance: $0.64
DYOR, NFA
Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see!
Thank you!
#PEACE
a possibility could propel the price higherOver the June month, last weekend at June 30th Sunday, the ETH market exhibited a bullish trend and gained a 5% jump to the $3,500 resistance level. However, gains failed to sustain as it declined below the $3,435 mark. This dynamic trendline resistance has been in play and a recurring challenge since June 7th, when it failed to reach the $4,000 level.
On July 1st, 2024, Ethereum confirmed this bullish phase was short-lived as the price faced a correction, as it shooked off from the 50-day EMA hurdle. On July 2nd and 3rd followed the decline up to $3333, and at the time of writing, it continues struggling at the support zone at $3250. Where it last traded at $3363.1 with an intraday decline of -1.57% (at press time).
Additionally, the ETF’s breaking has been shared today by the ETF store president, and analysts are optimistic for $4000 mark, from the current price that would be nearly 20% on daily chart.
The ETH technical tools show that the price is facing a hurdle from the 50-day dynamic EMA band and has been trading above the 200-day EMA band. Meanwhile, the MACD line has been below the signal line, and RSI flashed at 41.04, facing the oversold territory.
Overall, indicators are depicting the current price activity, and that would be bearish, after a certain bullish formation, these could flip the indications. But, in this low momentum trading activity in ETH, the long-term indication stays bullish, as it's above 200-day EMA. The indicators show uncertain price action, as of now.
On the upside, if Ethereum continues to break above dynamic trendline resistance and moves past the $3,500 hurdle mark on the daily ETH/USD chart. The major resistance levels could be anticipated near at $3,700 and $3,750, with a potential close above the price level of $3,750.
Thereon, a possibility could propel the price towards the $3,900 and $4,000 resistance levels. Meanwhile, in the future, a decisive break above the level of $4,000 could further increase the Ethereum price towards the $4,250 level and beyond.
Conversely, if Ethereum fails to cross the $3,500 resistance mark, it may enter a further decline in price. Initial support could be near $3250, with key support at $3070. Likewise, a clear move beneath this support could see the price drop towards $2960, with further losses potentially driving it below the $2850 level, as well.
Can BOME Crypto Mark A Bullish Reversal Amid Improved SentimentsCan BOME Crypto Mark A Bullish Reversal Amid Improved Sentiments?
BOME Crypto Surged an impressive 17% yesterday indicating buyers comeback
The weighted sentiment curve spiked into a bullish territory indicating an improved sentiment.
The meme coins are getting a lot of attraction from the investors due to their appeal and innovative features. The increased investors enthusiasm towards the meme coin helped them to outperform blue chip cryptocurrencies like Bitcoin and Ethereum.
Book Of Meme (BOME) is another meme coin which has started gaining traction in the recent sessions. The crypto has surged over 13.6% a week and might add impressive returns to the portfolio of the investors if it succeeds to make a breakout.
Moreover, there has been a notable development in the weighted sentiment curve which further adds confirmation to a bullish scenario. BOME crypto ranks 96th in the cryptoverse with a live market capitalization of $702.53 Million.
Weighted Sentiment Spikes Into A Bullish Territory
While the price action reveals the crypto still into a bearish territory below the 50 day Exponential moving average. However the weighted sentiment curve has witnessed a notable shift into the bullish territory after the price soared nearly 17% yesterday.
As per the data obtained by a financial website app.santiment.net, there has been a rise in the positive sentiment due to which the weighted sentiment curve has reclaimed the bullish territory above the zero line. The improved sentiment might drive the BOME crypto price towards a positive side.
The weighted sentiment curve reflects the overall bias of the investors towards the crypto. A bullish weighted sentiment curve often reflects a positive change in the price.
Can BOME Mark An End To The Correction Phase?
While other meme tokens have delivered a significant amount of returns to their investors in the past three months. On the other hand, BOME has failed to deliver the same as it has been in a correction phase since April.
However, the bulls are attempting in the recent sessions which could mark the termination of a correction phase. The crypto has surged over 13% a week indicating buyers' comeback.
Moreover, the volume inflow has surged by 225.61% indicating strong rise in the demand that could trigger a breakout. On the higher side, the BOME crypto may resume a bullish trend if it surpasses the 50 day EMA.
Is Bome Ready For a Bullish Reversal?
Book Of Meme (BOME) crypto has seen a 13.6% increase over the past week, sparking interest among investors. Despite trading below the 50-day Exponential Moving Average (EMA), a 17% price jump has shifted weighted sentiment to the bullish side.
Moreover, BOME crypto lagged behind other meme coins in the past quarter. However the recent sessions suggest a potential end to its correction phase, with a 13% weekly surge and a 225.61% increase in volume inflow. A break above the 50-day EMA could confirm a bullish reversal.
#ETH/BTC Analysis: Major Support Trendline and Falling Wedge Bre#ETH/BTC Analysis: Major Support Trendline and Falling Wedge Breakout
The 3ETH/BTC trading pair has been in a downtrend for the past 28 months, consistently forming lower highs and lower lows. However, recent price action indicates a potential reversal pattern that could signal the end of this prolonged bearish phase. Ethereum is currently taking support from a significant trendline and has formed a falling wedge, a bullish reversal pattern. Traders and investors are now eagerly awaiting a breakout, which could pave the way for Ethereum to reach new all-time highs, potentially hitting the $15,000 mark against Bitcoin.
**Major Support Trendline:**
Over the past 28 months, ETH/BTC has been respecting a major support trendline. This trendline has acted as a critical support level, preventing further declines on multiple occasions. Recently, Ethereum has once again found support at this trendline, indicating a strong base and potential for a reversal.
**Falling Wedge Pattern:**
A falling wedge is typically considered a bullish reversal pattern that forms after a downtrend. It is characterized by converging trendlines that slope downwards, with the upper trendline having a steeper slope than the lower one. In the case of ETH/BTC, the falling wedge pattern has been forming over several months, signaling that the downtrend might be losing momentum.
**Breakout Confirmation:**
For the falling wedge pattern to be validated, ETH/BTC needs to break above the upper trendline of the wedge. A confirmed breakout would typically be accompanied by increased trading volume, indicating strong buying interest. Once this breakout is confirmed, it would suggest that the bearish trend has ended, and a new bullish phase is beginning.
**Price Target:**
The breakout from the falling wedge pattern could lead to significant upward momentum for ETH/BTC. Based on technical analysis and historical price movements, Ethereum could reach new all-time highs, potentially climbing to the $15,000 level against Bitcoin. This price target is derived from measuring the height of the wedge at its widest point and projecting it upwards from the breakout level.
**Conclusion:**
The #ETH/BTC pair has been in a downtrend for the past 28 months, but recent price action indicates that a reversal might be on the horizon. Ethereum is taking support from a major trendline and has formed a falling wedge pattern, both of which are bullish signals. Traders and investors should keep a close eye on the price action for a confirmed breakout above the upper trendline of the wedge. If this breakout occurs, it could propel ETH/BTC to new all-time highs, potentially reaching the $15,000 mark. This presents a compelling opportunity for those looking to capitalize on Ethereum's next major bullish run.
#ETH/BTC Falling Wedge: Ready for a Bullish Breakout#ETH/BTC Analysis: Major Support Trendline and Falling Wedge Breakout
The 3ETH/BTC trading pair has been in a downtrend for the past 28 months, consistently forming lower highs and lower lows. However, recent price action indicates a potential reversal pattern that could signal the end of this prolonged bearish phase. Ethereum is currently taking support from a significant trendline and has formed a falling wedge, a bullish reversal pattern. Traders and investors are now eagerly awaiting a breakout, which could pave the way for Ethereum to reach new all-time highs, potentially hitting the $15,000 mark against Bitcoin.
**Major Support Trendline:**
Over the past 28 months, ETH/BTC has been respecting a major support trendline. This trendline has acted as a critical support level, preventing further declines on multiple occasions. Recently, Ethereum has once again found support at this trendline, indicating a strong base and potential for a reversal.
**Falling Wedge Pattern:**
A falling wedge is typically considered a bullish reversal pattern that forms after a downtrend. It is characterized by converging trendlines that slope downwards, with the upper trendline having a steeper slope than the lower one. In the case of ETH/BTC, the falling wedge pattern has been forming over several months, signaling that the downtrend might be losing momentum.
**Breakout Confirmation:**
For the falling wedge pattern to be validated, ETH/BTC needs to break above the upper trendline of the wedge. A confirmed breakout would typically be accompanied by increased trading volume, indicating strong buying interest. Once this breakout is confirmed, it would suggest that the bearish trend has ended, and a new bullish phase is beginning.
**Price Target:**
The breakout from the falling wedge pattern could lead to significant upward momentum for ETH/BTC. Based on technical analysis and historical price movements, Ethereum could reach new all-time highs, potentially climbing to the $15,000 level against Bitcoin. This price target is derived from measuring the height of the wedge at its widest point and projecting it upwards from the breakout level.
**Conclusion:**
The #ETH/BTC pair has been in a downtrend for the past 28 months, but recent price action indicates that a reversal might be on the horizon. Ethereum is taking support from a major trendline and has formed a falling wedge pattern, both of which are bullish signals. Traders and investors should keep a close eye on the price action for a confirmed breakout above the upper trendline of the wedge. If this breakout occurs, it could propel ETH/BTC to new all-time highs, potentially reaching the $15,000 mark. This presents a compelling opportunity for those looking to capitalize on Ethereum's next major bullish run.
ETH Price Did Not Benefit from the Ether ETF News: Here's WhyETH Price Did Not Benefit from the Ether ETF News: Here's Why
Despite the U.S. approval of several ether exchange-traded funds, Bitcoin (BTC) and Ether (ETH) experienced a downturn in their prices over the last 24 hours.
The Ethereum crypto dropped by 4% post-approval, epitomizing the classic "sell the news" market reaction.
The broader crypto markets including the market leaders Bitcoin (BTC) and Ethereum (ETH) experienced a decline in value amid the positive news approval of Ether ETFs to be listed on the U.S. exchanges.
Following the approval, Ether price saw a decline of 4%, reversing a previous 20% increase over a week driven by the anticipated approval and favorable forecasts for the ETFs' listing.
Despite the positive news about the approval of spot Ether exchange-traded funds (ETFs) in the United States, the BTC and ETH witnessed a sharp fall. Let's try to look into the activities that led to the selloff and how it was possible to anticipate the fall.
A large Chunk Of ETH Transferred to Exchanges
Significant transfers of ETH to cryptocurrency exchanges had captured the market's focus in the past. This move sparked discussions about possible profit-taking, adjustments in investment portfolios, or market speculation.
Over the last couple of weeks, exchanges saw an influx of over 242,000 CRYPTOCAP:ETH into their wallets, signaling a surge in trading activities that could lead to heightened market fluctuation.
Looking at #Ethereum’s balance on exchanges reveals a spike in the tokens available to sell. Over the last two weeks, over 242,000 CRYPTOCAP:ETH have moved to #cryptocurrency exchange wallets. This indicates increased trading activity on exchanges that can contribute to price… pic.twitter.com/vOxV3pkmJq— Ali (@ali_charts) May 24, 2024
Moreover, as per a tweet by Ali Martinez, a technical and on-chain analyst, Jeffrey Wilke, a co-founder of Ethereum, had moved 10,000 CRYPTOCAP:ETH , valued at approximately $37.38 million, to the Kraken exchange.
All these flows of Ethereum from different wallets to the cryptocurrency exchange wallets indicated the intention of the large players aiming to book profits amid the ETF news. The large investors seemed to have taken advantage of the news to rebalance their portfolio thus turning the ETF approval a sell the news event.
What’s Next For Ethereum?
Now that the news has shaken the Ethereum price, it's time to analyze the price chart about what lies ahead for the ETH ahead. as per the daily chart the recent support lies near $3600 above which the bulls may look to defend in the short term.
Moreover, on the higher side, the $3850 may act as a supply zone and act as a hurdle for the bulls on the higher side. The price action seems to be sideways and range bounded until the crypto is maintained in these levels.
Not coin updatesOverview
Name: Not Coin (NTC)
Launch Date: Recently launched (specific date varies by source)
Purpose: Designed for use in decentralized applications (dApps) and smart contracts.
Key Features
Blockchain Technology: Not Coin operates on a blockchain platform, ensuring security and transparency.
Smart Contracts: Supports the creation and execution of smart contracts, aiming to streamline various digital agreements.
dApp Integration: Focused on facilitating the development and operation of decentralized applications.
Market Performance
Market Cap: Relatively low compared to major cryptocurrencies, reflecting its emerging status.
Price Volatility: Exhibits significant price fluctuations, typical of new and smaller cryptocurrencies.
Use Cases
DeFi (Decentralized Finance): Potential applications in decentralized finance platforms, offering users financial services without intermediaries.
Gaming: Integration into blockchain-based games, providing in-game currency and assets.
Strengths
Innovative Technology: Leveraging blockchain for various modern applications.
Community Support: Growing community and developer interest, fostering innovation and adoption.
Weaknesses
High Volatility: Prone to large price swings, which can deter risk-averse investors.
Limited Adoption: Still in the early stages of user and developer adoption compared to established cryptocurrencies like Bitcoin and Ethereum.
Conclusion
Not Coin is an emerging cryptocurrency with potential in the DeFi and dApp sectors. Its future growth depends on increased adoption and development within its ecosystem. However, investors should be aware of the high volatility and associated risks.
For a detailed analysis, including technical specs and real-time market data, further research or consultation with a financial expert is recommended.
SOLUSDTSolana (SOL) is a cryptocurrency and blockchain platform known for its high performance and scalability. It aims to provide a solution to the scalability issues that many other blockchain networks face, such as Ethereum. Solana utilizes a unique consensus mechanism called Proof of History (PoH), which helps to order transactions efficiently and achieve high throughput. The project has gained significant attention and popularity within the crypto community due to its fast transaction speeds and low fees. Additionally, Solana has been attracting various decentralized finance (DeFi) projects and decentralized applications (dApps) to build on its platform.
