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#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.
Long
by crypto_vulture_signals
2
#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.
by crypto_vulture_signals
1
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.
COINBASE:ETHUSDLong
by Ritika_TCR
1
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.
CRYPTO:SOLUSDLong
by Ritika_TCR
What whales are thinking on $ETH! If we consider the given options for Ethereum entry prices and their average of $1689.7, here is a comparison: 1793.0: This price is higher than the average. If you enter at this price, you are buying Ethereum at a premium compared to the average price. 1724.6: This price is also higher than the average, but not as much as the previous option. Entering at this price would mean buying Ethereum at a slightly higher than average price. 1658.7: This price is lower than the average. If you enter at this price, you would be buying Ethereum at a discount compared to the average price. 1595.3: This price is the lowest among the given options and significantly lower than the average. Entering at this price would mean buying Ethereum at a substantial discount compared to the average price. Based on this comparison, if you believe that the price of Ethereum will increase in the future, entering at a lower price such as 1595.3 could potentially offer a better opportunity for a higher return on investment.
COINBASE:ETHUSDLong
by ETH-WHALE_ID3313
axsusdtperpthe live Axie Infinity price today is $11.77 USD with a 24-hour trading volume of $49,23,49,645 USD. We update our AXS to USD price in real-time. Axie Infinity is down 3.70% in the last 24 hours. The current CoinMarketCap ranking is #44, with a live market cap of $1,17,78,12,355 USD. It has a circulating supply of 10,01,07,074 AXS coins and a max. supply of 27,00,00,000 AXS coins. If you would like to know where to buy Axie Infinity at the current rate, the top cryptocurrency exchanges for trading in Axie Infinity stock are currently Binance, BingX, BTCEX, Deepcoin, and Bybit. You can find others listed on our crypto What Is Axie Infinity (AXS)? Axie Infinity is a blockchain-based trading and battling game that is partially owned and operated by its players. To learn more about this project, check out our deep dive of Axie Infinity. Inspired by popular games like Pokémon and Tamagotchi, Axie Infinity allows players to collect, breed, raise, battle and trade token-based creatures known as Axies. These Axies can take various forms, and there are more than 500 different body parts available, including aquatic, beast, bird, bug, plant and reptile parts. Parts from each type class come in four different rarity scales: common, rare, ultra rare and legendary — and Axies can have any combination of body parts, making them highly variable and often rare and unique. Each Axie is a non-fungible token (NFT) with different attributes and strengths and can be entered into 3v3 battles, with the winning team earning more experience (exp) points that are used to level up an Axie's stats or evolve their body parts. These Axies can be bred together to produce new and unique offspring, which can be used or sold on the Axie marketplace. The Axie Infinity ecosystem also has its own unique governance token, known as Axie Infinity Shards (AXS). These are used to participate in key governance votes and will give holders a say in how funds in the Axie Community Treasury are spent. Who Are the Founders of Axie Infinity? Axie Infinity was created in 2018 by Sky Mavis — a technology-focused game developer with a team primarily based in Vietnam. It was co-founded by Trung Nguyen and Aleksander Larsen. Trung Nguyen is the current CEO of the platform. Nguyen graduated with a BS in computer software engineering, and worked as a software engineer at Anduin Transactions prior to founding Axie Infinity. Former competitive gamer Aleksander Larsen is also credited as a co-founder and COO of the platform. Larsen has been working in blockchain gaming since 2017. He previously worked as the executive security officer for the Norwegian Government Security Organization and still sits as Secretary of the Board of Directors at the Blockchain Game Alliance. In total, the Axie Infinity team consists of 25 full-time employees — many of whom have experience with game development. What Makes Axie Infinity Unique? Each Axie possesses six out of the hundreds of different potential body parts — each of which has its own battle move. This produces essentially endless variety among Axies, with most Axies having relatively weak statistics, while those with the strongest combination of body parts can have incredible stats. Unlike some other blockchain-based battling and breeding games, each Axie can only be bred a total of seven times to help control the population of Axies. Axie Infinity has its own mating hub to help players find a suitable match to breed their Axie with to stand the best chance at producing a rare or powerful offspring. It costs 0.005 ETH in addition to Small Love Potion (SLP) tokens to breed Axies. AXS token holders will soon be able to stake their tokens to receive regular rewards. But unlike some other stakeable assets, AXS holders will also need to vote and play to claim their rewards. Axie Infinity Gameplay Axie Infinity invites users to earn tokens through all sorts of aspects of gameplay. It also allows players to breed, grow and trade ecosystem game characters aka non-fungible tokens (NFTs) – Axie creatures. Those virtual pets have their own class, particular characteristics and a set of attributes. Axies are collectible and can also be sold on the in-game marketplace called P2P Axie. Axies are made up of a set of stats as class and body parts, indicating their features and rarity level. Distinctive ability cards that are directly related to a configuration of characteristics are the center of the gameplay. Each Axie is a unique NFT owned and controlled by its user. Play-to-Earn Model Axie Infinity is one of the pioneers of the Play-to-Earn (P2E) concept, where gamers earn crypto and NFTs through gaming activity. As part of the online game, users participate in turn-based battles, but the main difference is that gamers have control over their characters, land plots, resources and other in-game items of the universe. Thus, Axie Infinity is an open digital universe, where the economy is controlled by its players. Ownership of in-game assets and unique digital items is verified via NFTs. The tokens act as a receipt proving the right to property. Hence, users can both sell their Axies to other players and store them securely in crypto wallets like Trust Wallet, Binance Chain Wallet, or Ronin Wallet. The last one was specially designed for Axie Infinity. How Does Axie Infinity Work? The gameplay of Axie Infinity is focused on fighting & breeding Axies. It consists of the following steps: buying Axies, participating in battles with other players, breeding Axies, and selling them on the marketplace. Players need to have an Axie to join the battle and select Adventure Mode (PvE) or Arena Mode (PvP). Axies can be bred, but each Axie cannot be bred more than 7 times. Lunacia is the homeland of digital creatures. It is divided into tokenized parts where players can search for resources and upgrade their plots. On the marketplace, players can trade their Axies and land plots. A key feature of Axie Infinity is community engagement, where each member contributes, participates in governance, and generates content. The developers have also introduced a number of mechanics that distinguish Axie Infinity from its analogs. For instance, built-in population control. Furthermore, a wide range of Axies due to various combinations of attributes builds additional demand among gamers and collectors of rare NFTs. To solve the scalability problem, Axie Infinity created its sidechain on Ethereum called Ronin Network. It ensures instant transactions not involving the Ethereum blockchain. Users can safely store AXS and collectible NFTs in Ethereum and Ronin wallets, and send tokens from Ethereum wallet to Ronin wallet via Ronin Bridge. Related Pages: Check out Ethereum (ETH) — the blockchain that hosts the Axie Infinity game. Check out Small Love Potion (SLP) — the token needed to breed Axies. Read about non-fungible tokens (NFTs) with CoinMarketCap Alexandria. Want to keep track of Axie Infinity prices live? Download the CoinMarketCap mobile app! Discover the latest crypto insights, news and trading analysis with CoinMarketCap Alexandria. How Many Axie Infinity (AXS) Coins Are There in Circulation? he native ecosystem token, Axie Infinity Shard (AXS), was launched in November 2020. AXS is the central mechanism for running the Axie Infinity game. Players can buy, trade and earn tokens simply by playing it. In addition, the best players of the season receive rewards in AXS. Moreover, AXS serves as a governance token that allows holders to vote on gameplay changes and influence the evolution of the platform. Axie Infinity (AXS) tokens have a total supply of 270 million tokens. Out of this, around 53.5 million tokens were in circulation as of mid-November 2020. In total, 11% of the total supply was allocated to participants in the Binance Launchpad IEO sale (each Axie Infinity token price was $0.10) and 4% was sold in a private sale. In addition to this, 29% is allocated for staking rewards, 20% to the play-to-earn pool, 21% to the team, 7% to advisors and 8% to the ecosystem fund. Based on the current release schedule, as indicated by Binance Research, 100% of AXS tokens will be circulating by early 2026. How Is the Axie Infinity Network Secured? The Axie Infinity (AXS) token is an ERC-20 token launched on the Ethereum blockchain. As a result, it is secured by Ethereum’s proof-of-work (POW) consensus mechanism. In early 2021, Axie Infinity plans to migrate its NFT tokens, including Axies, Land and other in-game item tokens from the Loom Network to a custom-built sidechain on Ethereum known as Ronin. Ronin is an application-specific sidechain built just for Axie Infinity. It is being developed by Sky Mavis — the development firm behind the Axie Infinity game, and is designed to support almost instant transaction confirmations, reduced gas fees and be capable of helping Axie Infinity scale. Where Can You Buy Axie Infinity (AXS)? As of October 2021, Axie Infinity (AXS) is available to trade on numerous exchange platforms, including top exchanges like: Binance, Huobi Global, Coinbase, FTX, Bithumb, KuCoin, Gate.io and Kraken. The link between Axie Infinity Smooth Love Potion has lead to numerous trading pairs being offered, including SLP to ETH and SLP to BNB. However there is substantial interest in the Philippines for the SLP to PHP price, in Australia for the SLP to AUD and Europe for the SLP to EUR prices. It is listed with numerous Axie Infinity price pairs, including popular ones like: AXS/USDT, AXS/BTC, AXS/BUSD and AXS/BNB. As the game has risen in popularity, interest in the AXS to PHP, AXS to AUD and AXS to EUR.
Long
by Aravindha_n
What 1-hour chart says? Fundamental Development:- Ethereum was trading at $1,103.78 on the Investing.com Index on Wednesday, down 10.10% on the day. It was the largest one-day percentage loss since June 13.The move downwards pushed Ethereum's market cap down to $137.03B, or 15.20% of the total cryptocurrency market cap. At its highest, Ethereum's market cap was $569.58B. Ethereum had traded in a range of $1,103.65 to $1,226.97 in the previous twenty-four hours. Over the past seven days, Ethereum has seen a drop in value, as it lost 36.9%. The volume of Ethereum traded in the twenty-four hours to time of writing was $26.36B or 27.37% of the total volume of all cryptocurrencies. It has traded in a range of $1,078.1089 to $1,832.7004 in the past 7 days .At its current price, Ethereum is still down 77.31% from its all-time high of $4,864.06 set on November 10, 2021.Elsewhere in cryptocurrency trading .Bitcoin was last at $20,902.9 on the Investing.com Index, down 8.11% on the day. Tether was trading at $0.9996 on the Investing.com Index, a loss of 0.01%. Bitcoin's market cap was last at $403.05B or 44.70% of the total cryptocurrency market cap, while Tether's market cap totaled $70.77B or 7.85% of the total cryptocurrency market value. Short Term Technical View: On daily time frame BTC is trading below 200&50 simple moving averages and trading between $20,600-$23,500 ranges.BTC is made low 20,800 and now consolidating within a range. Yesterday it made high near $23,320 and then it continue to Decline. Bitcoin is struggling to gain momentum above $23,300. Alternative Scenario: If Bitcoin fails to clear the $23,400 resistance zone, it could start another decline. An immediate support on the downside is near the $20,700 level.
BINANCE:BTCUSD
by eva236220
💡Don't miss the great buy opportunity in ETCBTCTrading suggestion: ". There is a possibility of temporary retracement to suggested support line (0.000269). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . ETCBTC is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 70. Take Profits: TP1= @ 0.000418 TP2= @ 0.000494 TP3= @ 0.000603 TP4= @ 0.000750 TP5= @ 0.000926 TP6= @ 0.001100 TP7= @ 0.001354 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_ME
2
Don't miss the great buy opportunity in ETCUSDTrading suggestion: . There is a possibility of temporary retracement to suggested support line (6.35). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . ETCUSD is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 52. Take Profits: TP1= @ 6.58 TP2= @ 6.80 TP3= @ 7.05 TP4= @ 7.30 TP5= @ 7.65 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
BINANCE:ETCUSDLong
by ForecastCity_ME
9
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.
Long
by NATlucky
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
CRYPTO:ETHUSDLong
by tradergyan01
1
Jupiter Stabilizes At Lowes: Can JUP Be A Bullish Bet In SeptJupiter Stabilizes At Lowes: Can JUP Be A Bullish Bet In September? At the time of writing, Jupiter was exchanging hands close to $0.726, recording a bearish intraday development of 1.51%. The development activity curve was headed higher indicating recent updates and changes in the asset. Amid the broader market's turmoil, Jupiter price seemed to be stabilizing near the monthly support of $0.70. The broader market's weakness seemed to be impacting the price of altcoin and limiting its performance. For instance, In the recent sessions, Jupiter exchange disclosed borrowing fees for Bitcoin, Ethereum and Solana over their platform. Despite the positive news, JUP token's price has remained relatively muted in the last couple of sessions. It might be due to the increased investors' concerns after Bitcoin has loomed towards $56K and Ethereum has stepped below the psychological $2500 mark. However, the surge in the development activity and transaction volume suggests some sort of recovery round the corner. Let's analyze and try to find whether Jupiter may continue to follow market leaders and suffer more or can it stabilize and head for a recovery. Lowered Borrowing Rates Leaves Muted Impact On JUP Price Recently, Jupiter announced a reduction in borrowing rates for three major crypto assets after community feedback. According to a post by Jupiter Exchange on X (formerly known as twitter), the platform reduced the borrow rate per hour from 0.01% to 0.008% for Bitcoin, Ethereum and Solana. x.com Also, the reduction in trade open/close fee from 0.1% to 0.06% was announced by the platform. The community as well as several X users found it a positive news for the traders and investors. However, Jupiter price experienced muted impact following the news and has been on a consolidation near the support since then. However, the transaction volume has observed a significant growth over the last few sessions. The transaction volume has surged from $44 Million a day to $64 Million indicating a heightened demand. The volume to market cap ratio at 5.42% suggests low volatility in the crypto. Moreover, As per the data obtained from an on-chain analytics website app.santiment.net, a notable change was observed in the development activity of Jupiter. The development activity as well as the developers activity contributors count graph has surged indicating the crypto undergoing some changes and updates. Can Jupiter Head For A Recovery In September? From a technical point of view, Jupiter price was hovering below the key EMAs of 20, 50 and 200 days indicating a prevailing bearish trend. Also, the broader markets remain in the red zone with Bitcoin price sliding towards the $56K levels. However, the daily chart highlights the formation of a descending triangle pattern with an upper trendline acting as a resistance and psychological $0.7 level acting as a support. As of now, Jupiter was exchanging hands close to $0.70, registering a bearish intraday development of 1.51%. On the lower side, if Jupiter price breaks below the recent support of $0.7 level it may validate a breakdown and the price may resume its journey towards the lower support of $0.65 and $0.6 levels. On the contrary, the bulls need to surpass the trendline resistance in order to register a breakout over the daily chart. On a sustained breakout, Jupiter may resume its journey towards the higher supply of $1 level.
BITFINEX:JUPUSDLong
by Ritika_TCR
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.
COINBASE:ETHUSDShort
by FXBANkthe8055
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.
CRYPTO:FTMUSDLong
by Ritika_TCR
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