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ETH / USD Price Analysis: Losing ChargeETH / USD Short-term price analysis
Ethereum has a bearish short-term trading bias, with the cryptocurrency now trading below its 200-period moving average on the four-hour time frame.
The four-hour time frame shows that a bearish head and shoulders pattern has taken shape, with the ETH / USD pair now testing towards the neckline of the pattern.
Technical indicators are bearish on the four-hour time frame and continue to generate sell signals.
Pattern Watch
Traders should note that the downside target of the bearish head and shoulders pattern on the four-hour time frame extends towards the $125.00 level.
Relative Strength Index
The RSI indicator on the four-hour time frame has turned bearish, although it is attempting to correct from oversold territory.
MACD Indicator
The MACD indicator on the four-hour time frame has turned bearish and continues to issue a sell signal.
ETH / USD Medium-term price analysis
Ethereum retains a bullish medium-term trading bias, with the ETH / USD pair still trading above its trend defining 200-day moving average.
The daily time frame is still showing a valid inverted head and shoulders pattern, although the ETH / USD pair has now fallen below the neckline of the bullish pattern.
Technical indicators on the daily time frame have turned bearish and have scope to correct even lower.
ETH / USD Daily Chart by TradingView
Pattern Watch
Traders should note that the inverted head and shoulders pattern on the daily time frame has yet to reach its overall upside target of $230.00.
Relative Strength Indicator
The RSI Indicator on the daily time frame has turned bearish and shows scope for further downside.
MACD Indicator
The MACD indicator on the daily time frame is bearish, with both the MACD histogram and the MACD signal line issuing sell signals.
Conclusion
Ethereum is staging a strong short-term technical correction with the bearish head and shoulders pattern on the four-hour time frame suggesting that the ETH / USD could trade even lower.
Ethereum still has the potential to trade higher over the medium-term if the inverted head and shoulders pattern on the daily time frame remains valid.
Ripple Long-Term ViewRipple(XRP/USD)
Ripple
Overview
Ripple(XRP/USD) has suffered about 91+% correction(drop) since all time high-level price($3.3+) reached in January’18.It has seen significant upward movement in the month of September’18(110+%) and is now retesting a major support level.
Let us continue to analyze price action for Ripple(XRP/USD) over the long term and proceed to highlight any potential areas of support and resistance moving forward.
Long-Term Analysis (Monthly Timeframe)
Scenario 1: Bullish (Uptrend)
The bullish argument one can see on the XRP/USD chart is that it has been respecting the long-term trend-line(since July'17) pretty well. The trend-line was tested in September'18 which lead to a movement of 110+% upside. It is retesting again now and we might see an upside movement to the Resistance Zone 1 ranging from $0.63--$0.71 if the Support Zone from $0.16--$0.29 holds well.
Support Zone is quite a strong area of bounce as its the previous year resistance now turned support.
If Ripple held the trend-line then it might follow path "1" as specified in the chart.
If it manages to close above "Resistance(Sell) Zone 1" then it will retest "Resistance(Sell) Zone 2" ranging from -$0.84--$0.98 within few months which might show some sign of bullish confirmation.
Stochastic RSI is also in the oversold region with an upward trend.
Scenario 2: Bearish (Downtrend)
If the monthly candle(December) closes below $0.28 and the trend-line doesn't hold up then we might follow the path "2".
If the trend-line is broken with strong sell volume then the trend-line will act as a strong resistance area to break in the future.
Generally, if the trend-line is retested multiple times then it becomes weaker.
Note: Monthly time frame charts illustrates the movement of price over a long-term horizon and are most often used by long-term investors.
Short-Term Analysis (Daily and Weekly)
Scenario 1: Bullish (Uptrend)
The weekly chart of (XRP/USD) shows that the long downtrend line(red dotted) has been broken with significant buy volume showing bullish signs.
It tested the support zone and jumped 110+% in September'18 proving this zone to be strong support.
If this support zone held in the coming weeks/month then we might retest the Resistance Zone 1 ranging from $0.58--$0.70.
We get the confirmations of the next bull cycle only if the Resistance zone 2 ranging from $0.88-$1 is broken with significant buy volume.
Scenario 2: Bearish (Downtrend)
If the support zone is broken with significant sell volume then we might test area of $0.07-0.14$ price levels and support zone will act as a strong resistance area to be broken in the near future.
News and event analysis:
One of the major catalyst which happened in the past that, 42nd President of the United States Bill Clinton was a keynote speaker in the Swell conference held in the October'18.
Many banks are experimenting with its Ripple network(xRapid) for money transfer across borders.
There is still decision to be made by SEC(USA) authorities whether or not Ripple is security.
Conclusion:
Ripple remains in 2nd position, in terms of overall market cap rankings along with Bitcoin and Ethereum.
The 65-month-old coin is now experiencing its first bear market and has already corrected enough(91% down) to commence its new bull cycle in coming weeks/months.
People likely showed interest in Ripple as it offers a cheap alternative in terms of asset price when compared to bitcoin and other crypto assets with good fundamentals.
The only concern lies with Ripple is of categorizing it to be a Security which might lead to retail traders not able to participate in trading.
ETH/BTC - Insight Secret PatternInsight pattern I reveals is ABCD pattern for ETH
WE wait for correction to Fibonacci and prepare for next middle bull of Ethereum.
The target is zone of D.
Thank for reading and leave a LIKE for more TA and encourage me !
ETC forming a possible bearish butterfly pattern.ETC EMERALD project is on its way and is a good sign to buy now.
What Problems do the Emerald Project Solve?
The first and most obvious problem solved by the Emerald Project is that there is currently no wallet for the Ethereum Classic community that verifies transactions for users in a trustless way.
Other problems that the Emerald Project aims to solve is that there’s currently no common framework for developers to build dApps on Ethereum Classic, a lack of User Interface (UI) components, and no standard practices for 3rd party developers.
As a result every Dapp developer has to reinvent the entire architecture and components for new dApps, reimplement methods to integrate with hardware wallets, and build individual support for Ethereum smart contract features and tokens. It’s very time consuming, expensive and it’s hard to integrate Ethereum into existing apps on the server/client side, because the RPC API provided by Geth/Parity is just too low level for most use cases.
For more info.
www.etcdevteam.com
ETH on the verge of breakout?ETHEREUM key levels to look out for:
Interim support - $3300 - $3330
Immediate resistance - $3500
1st Target - $4087
2nd Target - $4870 (All Time High)
ETH - The boss of all ALTCOINS.
We depend massively on ETH for a crazy bull run and the biggest ever ALTCOIN Season!
With Mr. Donald Trump closing in on swearing an oath (in January) to become the next Prez. of The USA, and his vision to make USA, the world's largest cryptocurrency hub, we are in for a treat.
ETH is currently forming a bull pennant , promising a break-to-the-upside. Break and re-test above $3500 would push the bull cycle in motion, and all other altcoins will follow ETH's lead.
Ethereum ETFs have been seeing a good inflow of cash from the biggest institutions like - Blackrock . Now that the whole world has started to accept cryptocurrencies as the next best thing, it is about time the investors are heavily rewarded.
I personally have leveraged my positions at 3-5x and have been accumulating ETH at every dip, expecting to make some decent profits with my on-going positions.
Keep HODL-ing guys, you're about to witness the greatest bull-run that the world has ever seen!
Follow for more such content.
Wanna catch moves like these, but don't have enough time to analyze the markets?
Swinger 2.0 + MKL Levels AI Indicators - tradesindicate.in
$ETH bottom out ready for ATH now🚀 Ethereum ( CRYPTOCAP:ETH ): Bottom In? ATH Loading! 🚀
Ethereum looks primed for a major move, showing signs of bottoming out and gathering momentum. This could be the launchpad for a run toward a new all-time high!
🔑 Why ETH is Heating Up:
• Strong support holding firm = Confidence for buyers
• Market momentum shifting upward
• Historically, ETH has exploded after similar accumulation phases
If this is the bottom, the next wave could be massive. The question is: Are you ready to ride it? 🌕
Bitcoin (BTC): technical and fundamental analysis. Altseason.📈 Technical analysis BTC/USDT
The Bitcoin price is trading within a narrowing price range, formed after an unsuccessful test of the major resistance block at $100,000, followed by a correction to the 0.23 Fibonacci retracement level and subsequent consolidation. This has resulted in the formation of a pattern known as a narrowing wedge, the breakout of which could indicate the next direction for BTC price movement.
If buyers, supported by fundamental factors, manage to break through the psychological resistance level of $100,000, we can expect a strong upward momentum toward the next resistance zones at $110,000–$120,000 and a test of the global trendline resistance.
Conversely, if sellers push the price below the $90,000 support block and establish themselves beneath the EMA 200 line, we anticipate a corrective move toward the 0.5–0.61 Fibonacci retracement levels. These levels coincide with Imbalance zones, where consolidations are needed to close gaps in horizontal volume levels.
📉 Bitcoin market global analysis. When does the altseason start?
Bitcoin's dominance has begun a rapid decline, and we are currently witnessing an attempt to break out of a parallel price channel. If it manages to consolidate below the lower boundary of the channel, we can expect further declines in dominance, which would indicate the start of significant capital flows from Bitcoin to altcoins.
What are Bitcoin's long-term growth targets?
Above the current all-time high (ATH), there are no resistance levels based on historical data. Therefore, to determine growth targets, we will rely on trendlines, Fibonacci extension levels, analysis of large order block clusters in exchange order books, and, of course, indicators:
Fibonacci Extension Levels: The nearest growth targets for Bitcoin are the 1.61 and 1.78 Fibonacci extension levels, which lie in the range of $104,000–$112,000.
Global Trendline: The next target could be the global trendline drawn based on the peaks of the previous growth cycle. A test of this trendline might occur around the $120,000 level.
RSI Analysis: The RSI indicator is currently about 18% away from its resistance trendline. Translating this to Bitcoin’s price chart, this corresponds to a range of approximately $114,000–$120,000. This is where a test of the resistance line may occur, as observed in all previous Bitcoin market cycles.
💠 Analysis of liquidity zones and levels
The Fear and Greed Index remains in the Greed Zone at 76.
The total cryptocurrency market capitalization has grown to $3.37 billion, while the Bitcoin Dominance Index has fallen to 56.18.
According to the analysis of the accumulation of large order blocks in the order books, the largest blocks are at levels 100,000 and 120,000, and the supply and demand zones are located at the following levels:
🟢 Demand zone: 80,000 - 90,000
🔴 Supply zone: 100,000 - 150,000
Levels for long positions:
90,000 - psychological support level
88,000 - large support block
60,000 - large support block
Levels for short positions:
100,000 - largest resistance block
110,000 - large resistance block
120,000 - 100,000 - ascending trend line of resistance
📊 Fundamental analysis
In November, Bitcoin ETFs recorded an inflow of $6.1 billion—the highest monthly figure since the instrument's launch in January. This indicates growing investor confidence in the asset while favoring the security of regulated ETFs over direct BTC purchases. Record inflows into Bitcoin ETFs could support a BTC rally above $100,000.
Ethereum and Altcoin Investment Trends
Investment inflows into Ethereum (ETH)-focused products reached $634 million, pushing the total for this year to over $2.2 billion, surpassing the previous record of $2 billion set in 2021. Similarly, Ripple (XRP)-based crypto funds received record-breaking investments of $95 million. This surge may be linked to preparations for ETFs on other cryptocurrencies, potentially accelerating the onset of an altseason.
Regulatory and Macroeconomic Developments
SEC Leadership Announcement: Tomorrow, information may emerge regarding the new chair of the U.S. Securities and Exchange Commission (SEC), a key financial regulator overseeing the crypto market. Under current chair Gary Gensler, the SEC has intensified crypto market regulation. The appointment of a crypto-friendly commissioner could boost market sentiment and further support the start of an altseason.
U.S. Labor Market Data: Labor market reports are set to be released this week, serving as a critical indicator for the Federal Reserve's monetary policy. A continuation of rate cuts by the Fed would likely bolster overall growth in the cryptocurrency market.
🌐 Upcoming Events in the Global Economy
We expect increased volatility in both stock and cryptocurrency markets on the following dates:
➤ 12/04, 21:45 - Speech by Fed Chairman Jerome Powell.
➤ 12/06, 21:45 - US Unemployment Rate for November.
➤ 12/18, 21:00 - New Fed Interest Rate Decision.
➤ 12/18, 21:00 - US GDP (q/q) (Q3)
➤ 01/29/2025, 21:00 - New Fed Interest Rate Decision.
📈 Statistics of signals from our AI trading indicator:
In November, the price of Bitcoin was in an upward trend. Our trading indicator, as always, warned about this in advance! And even during the flat period it gave good entry points. Thanks to the latest updates, all signals have become profitable, and built-in Anti-Flat System prevented losses from manipulative market movements. 😎
Total price movement by all signals: + 54.92%
Maximum price movement: + 42.10%
Average price movement: + 13.73%
In addition, I would like to share the forecast of the latest Bitcoin price action by our AI, which not only indicates the direction, but also builds the trajectory of further price movement:
Baby Doge Coin Lifts Off 80% Amid Listing On Binance: What's NexBaby Doge Coin Lifts Off 80% Amid Listing On Binance: What's Next?
Binance announced the listing of three new cryptocurrencies Baby Doge Coin, Turbo, and Neiro Ethereum
Baby Doge Coin price gained a massive 86% following the listing announcement.
Binance, the world's largest cryptocurrency exchange announced the listing of three meme coins Baby Doge Coin, Turbo, and Neiro Ethereum with an applied seed tag. The seed tag means over a cryptocurrency means that it will be monitored for 90 days.
Following the announcement, BabyDoge's price exploded and was currently up over 86% in intraday. Despite the meme coin market trading in with a bearish bias, still, these new listing coins seemed to be in the top trending ones.
Talking about the other two, Turbo has also benefited from being listed on Binance and was up over 23% at the time of writing. While the other two witnessed positive change in their price, NEIRO headed downwards losing 36% in intraday.
BABYDOGE: Twitter Chatter Skyrockets Amid Binance Listing
In a recent post on x (Formerly known as twitter), Binance posted listing of three tokens with an added seed tag. while trading of these tokens will start from today, however, the users will also be able to place withdrawal requests from Tuesday, 17th September.
x.com
The price as well as on-chain metrics of Baby Doge Coin noted a sharp growth following the announcement.
As per Santiment, an on-chain analytics provider, the social metrics have noted an exponential growth amid the listing news on Binance. The social metrics includes social dominance and social volume and measures the change in influence of asset among the users on various social media platforms.
Various social media platforms like X, Telegram etc. act as a medium for recent updates and developments going on in a cryptocurrency. An increased engagement of the users highlights a possible surge in demand which could fuel the asset price higher.
Additionally, the intraday trading volume has surged by a massive 2686.5%. As a result the daily transaction volume has reached nearly 60% of the market cap suggesting high volatility. The intraday transaction volume was $214.8 Million against a total market cap of $303 Million.
What’s next For Baby Doge Coin?
following a 86% surge in Intraday, Baby Doge Coin price has reached at a three month high in less than a day. The price has pumped totally on the basis of sentiments however, one good thing that happened with the token was the trend shift to bullish territory.
BABYDOGE price blasted in intraday leaving behind the 50 and 200 day Exponential moving average which were acting as a dynamic resistance earlier. The recent surge has flipped them turning into a support ones.
On the higher side, if BABYDOGE breaches $0.00000000209 which is the intraday high it may again show strong upside rally as the community sentiments are higher. whereas, if the price stalls near the resistance the price may head for a profit booking as the short term traders have got good in intraday itself.
The technical indicators RSI suggests a overbought condition at the moment which may trigger a profit booking among the investors.
Can Heightened Social Metrics Drive Momentum In NEAR ProtocolCan Heightened Social Metrics Drive Momentum In NEAR Protocol
The social metrics have surged indicating a heightened user engagement in the asset.
The daily chart highlights the formation of a declining channel pattern with the price hovering near the boundary.
NEAR Protocol price has loomed back towards the recent demand of $3.5 level following the chaos in the broader markets. The Blue chip cryptocurrencies like Bitcoin and Ethereum are slipping towards the lows raising concerns about a further drawdown in the altcoins.
At the time of writing, Bitcoin had wiped out nearly 2.9% in intraday and was headed towards the psychological level of $55K. Whereas, Ethereum traded near $2380 losing 2.8% a day.
Moreover, the NEAR Protocol which had been in a correction phase for the last couple of months seemed to be stabilizing near the recent support amid the broader market's turmoil. Recently, the bulls attempted for a recovery which seemed to be vanishing after the broader market weakened.
Despite all, few on-chain metrics are pointing towards a possible recovery in the asset's price. Let's analyze and try to find whether the drawdown may continue or a recovery is likely in NEAR.
Social Metrics On the Rise: A Recovery is Likely?
The recent sessions saw a price rejection from the higher levels amid the rising investor concerns in the broader markets. However, the analysts have observed a notable change in the social metrics and transaction volume which suggests a recovery might be round the corner.
The social metrics is an on-chain data including social dominance and social volume. As per the analysts, the social metrics curve was observed to be headed upwards indicating the increasing participation of the social media users.
The social activities including Twitter news, Twitter followers, and social volume (including active users of Telegram and Twitter) reflects how much it is talked about, valued, and sought after by the crypto community.
Moreover, the transaction volume has increased from $130 Million a day to $160 Million at present suggesting a heightened demand in the asset. The volume to market cap ratio at 3.89% indicates low volatility in the crypto.
With a live market capitalization of $4.2 Billion NEAR protocol ranks 20th in the cryptoverse.
Bullish Or Bearish: Where Is NEAR Headed This Month?
The daily chart highlights the formation of a declining channel pattern with the price hovering between the upper and lower boundary of the channel. For the Majority of August, NEAR Protocol's price hovered in a range bounded zone with $3.5 as support and $5 level as resistance.
On the higher side, Near protocol has enough space till the psychological $7 level which is the upper boundary of the channel. However, it required a breakout above the psychological $5 level. The long term trend outlook is on the bearish side which may make it difficult for the bulls to overcome challenges on the higher side.
Also, NEAR price hovers below all the key Exponential moving averages of 20, 50 and 200 days suggesting a weak trend outlook and more favorable condition for the sellers. On the lower side, if the price breaks below the $3.5 level it indicates a bearish continuation and may drag the price towards the $3 level.
The RSI and 14 day SMA line were observed to be flat and hovering below the mean line indicating a neutral to bearish outlook in the short run.
Dash Price Plummets 23%, Cryptocurrency Investors in FrenzyDash Price Plummets 23%, Cryptocurrency Investors in Frenzy
The broader markets have experienced a heavy selloff in the last couple of sessions.
Dash price is on a 5 day losing streak eroding nearly 23% of its value in the period.
The broader markets crashed in the last couple of sessions after the investors feared a recession. At the time of writing, Bitcoin was exchanging hands close to $53.1K having lost over 9% whereas Ethereum unfolded by over 12% to $2350 in intraday.
The crash in the blue chip cryptocurrencies triggered a panic among the investors. Moreover, the altcoins also followed the market leaders and plummeted the same way. Dash price has slumped in the recent sessions losing nearly 23% in the last five sessions.
At the time of writing, Dash price was hovering near a critical zone which if breached more worse in the price may be experienced. Whereas, if the price bounces off, it may head for a recovery.
Open Interest Contracts Drops By Over 30%
Dash price is on a five day losing streak after the price slipped below the short term EMA of 20 and 50 days. Dash cryptocurrency is an open-source blockchain focused on offering a fast, cheap global payments network that is decentralized in nature.
Moreover, In tandem with the price decline, there has been a significant drop in the open interest contracts as per the app.santiment.net. On analysis, it was observed that the OI data has dropped from $7.7 Million to $5.1 Million in the last five intraday sessions.
The OI data has dropped by over 30% in the recent session highlights a long unwinding among the short term traders and investors. Furthermore, the transaction volume has grown by 94.3% to $59.34 Million a day. It ranks 148th with a live market capitalization of $263.37 Million.
Dash Price At The Risk Of Falling TO A Multi Year Low.
The daily chart highlights Dash price at a risk of falling to a multi year low. At the time of writing, DASH was hovering close to $21.9 recording a swift intraday loss of 1.6%.
On the lower side, the $20 level may act as a critical and psychological support which the bulls need to defend in order to keep the turn in their favor. The EMA analysis shows that the price lags 200 day EMA by 25% suggesting the domination of the bears over the trend.
Now, if the price breaks below the $20 level it may slump towards the next major support of $15 level. At present time, the MACD line was placed below the zero line suggesting a bearish trend prevailing.
The broader crypto market crashed due to recession fears. Bitcoin and Ethereum lost over 9% and 12% respectively triggering fear in the market. Dash crypto crashed nearly 23% in the last five days. A 30% drop in the Open interest data reflects long unwinding among the speculators.
Additionally, the trading volume is high but price is at risk of falling to a multi-year low. Bulls need to defend $20 support level, otherwise price may fall to $15.
zkSync Price Analysis: Can ZK Reclaim All Time High This Month? zkSync Price Analysis: Can ZK Reclaim All Time High This Month?
As per the analysts, zkSync has reclaimed the bullish territory and is poised to Show Gains Further.
The transaction volume has surged by 35.98% indicating a heightened demand in ZK price.
zkSync price is on a three day gaining streak and has reclaimed the bullish territory. The bulls made a strong comeback from the lower levels as the price made an impressive run of nearly 21% a week.
Earlier, ZK price noted a sharp rejection from the record highs of $0.309 and slumped shifting short term trend towards bearish side. The weakness in the broader market added more to worse and thus falling towards a record low of $0.131.
However, The bulls made a strong comeback amid the broader market recovery in the last couple of weeks. The price surged nearly 30% and entered positive territory above $0.187. Now, what's next for zkSync, will it continue to rise or suffer from the CMP.
zkSync Still 37% Lower From ATH
Despite gaining over 30% in the last couple of weeks, zkSync price still lies nearly 37% below it's All time high. At the time of writing, ZK price was hovering close to $0.197 recording a positive development of nearly 3.7% a day.
Moreover, the recent sessions have noted a rise in demand that could keep fueling the price to keep soaring higher. The transaction volume has surged by 35.98% as per the coinmarketcap.com.
The daily transaction volume has surged to $173.9 Million a day indicating a heightened demand. Additionally, the volume to market cap ratio was 24.03% suggesting a high volatility.
zkSync is a Layer-2 protocol designed to enhance Ethereum's scalability using advanced zero-knowledge (ZK) technology. Apart from boosting Ethereum's throughput, It aims to uphold core principles of freedom, self-sovereignty, and decentralization at scale.
Can zkSync Continue to Soar Higher or Decline Again?
The last couple of weeks saw a strong recovery reaffirming the confidence of the investors. The price surged nearly 30% from $0.14 to $0.18 and claimed a positive territory.
The increased transaction volume and volatility points to a bullish continuation in the short term. As per the analysts, ZK price may keep forming a higher low pattern on the charts and may reclaim All time high of $0.30 level.
The price lies above the 20 day EMA indicating a positive outlook ahead. Also, the RSI at 58.4 and above the SMA line at 44.5 highlights a positive trend prevailing. Additionally a bullish divergence was observed on the charts adding validation to a trend continuation.
Can zkSync Reclaim ATH?
zkSync price has surged over the past three days, reclaiming bullish territory with a 21% weekly gain. After a sharp drop from its high of $0.309, the recent demand has driven the price up by 30% to $0.18. Additionally, the transaction volume increased by 35.98%, reaching $173.9 million daily, indicating strong demand.
Furthermore, Analysts suggest a bullish continuation, with the price potentially reaching its all-time high of $0.30. The price is above the 20-day EMA, and RSI at 58.4 supports a positive trend, with bullish divergence observed on the charts.
Justin Sun Reveals Gas-Free Stablecoin Transfers on TRON NetworkTRON founder Justin Sun announced that his team is developing a stablecoin solution to increase institutional adoption of such assets.
On July 6, Sun revealed that a gas-free stablecoin solution will launch on the TRON network in the fourth quarter of this year.
Gas-Free Stablecoin Solution
Sun explained that this innovation means users will not need to pay a gas fee for stablecoin transactions. Instead, the stablecoins will cover the fees themselves. This solution will initially be available on the TRON Network before expanding to Ethereum and other Ethereum Virtual Machine (EVM)-compatible public chains.
Community Event & Token Unlocks: A Prelude to Starknet Price RalCommunity Event & Token Unlocks: A Prelude to Starknet Price Rally
Starknet announced a community conference scheduled for 10th July in Belgium.
Starknet price has showcased signs of recovery ahead of community conference and has surged by over 13.06%.
On July 15th over 63.9 Million STRK token unlock is scheduled for the investors and early contributors.
The Starknet ecosystem is all set for a community gathering scheduled for July 10th in Belgium. The Starknet crypto has showcased signs of a strong comeback ahead of the community gathering thus rejoicing the Investors.
At the time of writing, Starknet price was up over 13.06% and was exchanging hands close to $0.611. Apart from the community gathering which aims to bring together industry leaders, developers and other users, another token unlock event is also scheduled for this week.
Over 63.9 Million token unlock is scheduled for the investors and early contributors. The token unlock event is scheduled by the end of this week probably on 15th July.
Starknet Community Conference Key Highlights.
StarknetCC is poised to illuminate the path forward for Ethereum's scalability, leveraging the innovative Starknet technology. Moreover, the event, taking place at The EGG Brussels in Belgium, will feature an impressive lineup of over 40 panels, seminars, and hands-on workshops. The organizers anticipate a robust turnout of around 450 attendees.
The conference's agenda is thoughtfully curated to cater to both newcomers and experienced developers in the Cairo programming language. It's an opportunity for attendees to forge valuable connections, engage in thought-provoking discussions, and gain insights through interactive sessions.
Delving into the multifaceted Starknet ecosystem, StarknetCC offers participants a deep dive into the network's offerings and its transformative potential for Ethereum's scalability challenges. To top off a day filled with learning and networking, the event will conclude with a celebratory gathering, marking the culmination of a day dedicated to innovation and community spirit.
Over $63.9 Million Token Unlocks Scheduled This Week!
Starknet, which unlocked 63.9 million tokens in May and 63.9 million tokens in June, will release another batch of tokens in July. The project will release 63.9 million STRK tokens worth $38.34 million on 15th July.
Of the total allocations, nearly 30.43 Million STRK worth of $18.07 are allocated for the Investors and 33.5 million tokens worth of $19.93 million are allocated for early contributors.
Starknet Price Rebounds From The Bottom
This Week might emerge as a turnaround phase for Starknet with various events scheduled linearly. While the price has taken a rebound from the bottom amid the enthusiasm of the event scheduled, the broader market recovery has also helped regain Investors trust and amplified the intraday rise.
Despite the intraday recovery the technical indicators stance have not changed much except RSI. At the time of writing, the RSI line and the 14 day SMA line seemed to be returning back after entering into an oversold region.
Starknet cryptocurrency has a long way to recover as the price still hovers at a monthly loss of nearly 50%. The bulls require a continuous effort to recover and shift STRK price to a bullish territory.
On the higher side, the key 20 and 50 day Exponential moving averages have been acting as dynamic resistance and may act as a hurdle for the price to rise further.
Despite the Intraday rise, the trend outlook reveals a bearish trend prevailing which may add a risk of potential seller’s comeback near the key EMAs.
Bitcoin Technical Analysis - Bitcoin is currently trading with a very choppy price action.
- Investor's sentiment washout has been done for 2 months where altcoins got nuked and beaten down badly
- What's cooking next, IMO if you are planning to buy every dip that you see then its better that you do not, crypto in terms of Bitcoin and Ethereum has stayed strong but altcoins are making new lows every day so I prefer adding Bitcoin Solana Ethereum instead of alts
- I am going to keep my eyes on 55,000-56,000$ for Bitcoin it might revisit that
- Don't forget aggressive short sellers are going to open more aggressive shorts that might lead to another round of shorts liquidation up to 68,000$
Short Lived Surge for Blast Crypto: A Prelude to Another Price WShort Lived Surge for Blast Crypto: A Prelude to Another Price Wave?
Blast crypto is an Ethereum layer 2 (L2) with native yield for ETH and stablecoins.
Blast crypto gained traction soon after dipping lower and surged an impressive 40% from record lows today.
Blast crypto seemed to be retreating after rising to a record high of $0.029. The bulls. Blast crypto has been volatile since its inception yesterday at price $0.022. The crypto loomed nearly 20% lower yesterday and then surged back nearly 43% higher from the record low of $0.0186 in intraday to record high in intraday today.
Blast stands out as the Ethereum Layer 2 (L2) solution offering native yields on both ETH and stablecoins. Moreover, This yield is generated through ETH staking and Real-World Asset (RWA) protocols, which seamlessly distribute the earnings back to the users.
Unlike other L2 solutions that typically offer a 0% default interest rate, Blast provides a competitive 3.4% yield for ETH and an impressive 8% for stablecoins. Moreover, Blast empowers developers with innovative tools such as built-in yield generation and gas revenue sharing, setting a new standard for L2 platforms.
Blast Crypto Volume Analysis
At the time of writing, Blast crypto was up over 8.5% intraday with a massive growth in the volume inflow in Intraday. The transaction volume has surged by 85.98% a day to $592.44 Million a day.
Moreover, the volume to market cap ratio at 158.19 suggests very high volatility in the crypto. It has a live market capitalization of $400.26 ranking at 145th among all the cryptocurrencies.
Out of a total 100 Billion BLAST tokens as the total supply, only 17% of it i.e. only 17 Billion tokens are currently under circulation.
Can Blast Crypto Break Past Its ATH?
From a price point of view, Blast crypto retreated after rising to a record high. The hourly chart illustrates that the crypto has been in a consolidation zone with $0.0248 as the resistance and $0.0227 as the support.
On the higher side, any break above the resistance may indicate the completion of a pullback and the price may rally towards the record highs of $0.029 level. However, if the crypto slumps below the $0.0227, it may indicate a bearish continuation and the price may retrace its All time low value.
The RSI line and SMA line currently lies above the mean lines adding a bullish confirmation. investors need to watch closely as to which side the consolidation breaks.
What’s Next for Blast?
Blast crypto seemed to be consolidating with significant volatility in Intraday. The price has been volatile with 20% dip after inception and then a rebound of 43% from a low of $0.0186. At the time of writing, the crypto was exchanging hands close to $0.0238 with a positive development of nearly 8%.
With a market cap of $400.26 million, it ranks 145th and only 17 billion of the 100 billion total BLAST tokens are in circulation. Currently, the crypto has been in a consolidation with resistance at $0.0248 and support at $0.0227. A break above could signal a rally, while falling below may lead to record lows. The technical indicators RSI and SMA trends suggest a bullish outlook ahead.
Near Protocol Gains Strength: Is A Bullish Reversal On The HorizNear Protocol Gains Strength: Is A Bullish Reversal On The Horizon?
NEAR reclaimed the top spot in the number of users among blockchains, boasting around 16.3M addresses in the last month.
NEAR Protocol price surged nearly 15% in the recent sessions and reclaimed back the bullish territory above the 20 day EMA.
NEAR protocol price gained traction and reclaimed back bullish territory above the 200 day Exponential moving average. The bulls awoke after the price crashed near the annual low and initiated a recovery.
The broader market seemed to be still under pressure as Bitcoin and Ethereum were down nearly 1% in intraday today. The selling pressure in market leaders has also dragged the NEAR Protocol price lower by nearly 3% in intraday today.
Moreover, the NEAR Protocol has reported an impressive rise in the number of users which might have factored the price recovery. Let's analyze combining all the available resources to reach a conclusion about where NEAR price could lead in the upcoming sessions.
NEAR Protocol Reclaims Top Spot In The Number Of Active Users!
A recent tweet by Planeta which reveals the number of users among the different blockchains. The tweet mentioned that the NEAR protocol reclaimed the top spot in the number of active addresses in thee last month.
As per the tweet, the NEAR Protocol boasts at 16.3 Million addresses, beating other popular chains like Solana which had 14.6 Million active addresses and Polygon having 9.7 Million Active Addresses. Arbitrum claimed the fourth spot with 9.57 Million active addresses whereas Ethereum remained at 5th with 6.99 Million active addresses in the last month.
Active addresses are a key metric, reflecting the count of users engaging in transactions within a timeframe. A greater number of active addresses suggests enhanced liquidity and attractiveness to investors, indicating a vibrant and engaged network.
What's next For NEAR Protocol: Can It Recover Or Slump Again?
Now, that some positive news is driving the NEAR Protocol price higher, on the other hand the weakness in the broader market is dragging the price down again lower in intraday. Currently, the price hovers at a critical zone that lacks a clear direction.
Now, if the bulls dominate and defend the price above the previous day's low, then the price may show a bullish continuation. On the flip side, if the sellers dominate and drag the price below the 50% of the recent recovery, it may indicate a bearish continuation.
At the time of writing, the RSI line and the 14 day SMA showcases a bullish crossover indicating the possibility of a bullish scenario ahead. However the RSI and 14 day SMA line needs to surpass the mean line to turn bullish in the short term.
Conclusion.
NEAR Protocol price has recently surged, moving above the 200-day EMA, signaling a bullish trend after a dip to yearly lows. Despite a general market downturn, NEAR's active user base has grown to 16.3 million, the highest among other blockchains, which has contributed to its price recovery.
Currently, The price hovers at a pivotal point. Now, if the price is maintained above the previous day low value, a bullish trend may continue. Conversely, a drop below 50% of the recovery suggests a bearish trend. The RSI and 14-day SMA indicate a potential bullish outlook, but they must cross the mean line for confirmation.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Keyword: Near Protocol
Meta Description: NEAR Protocol price surged nearly 15% in the recent sessions and reclaimed back the bullish territory.
Starknet (STRK)Starknet (STRK)
StarkNet (STRK) is a decentralized ZK-Rollup. It operates on Ethereum as an L2 network, offering dApps the ability to scale computations infinitely while maintaining Ethereum's security and composability, thanks to its reliance on the robust STARK cryptographic proof system.
Starknet crypto has been on a constant decline since April. The long term trend outlook has shifted to a bearish side below the key EMAs of 50 and 200 days. The bears are in complete domination and the price might continue to slump more in the upcoming sessions.
Moreover, for a bullish reversal, the STRK crypto needs to surpass the $1 level and sustain above it. At the time of writing, the Starknet Crypto was exchanging hands close to $0.72 recording a swift intraday rise of 0.70%. It ranks 73rd in the overall crypto market with a live market capitalization of $941.47 Million.
Injective (INJ)Injective (INJ)
Injective Protocol stands out by offering robust foundational financial primitives that applications can utilize. It includes an on-chain order book that is fully decentralized and resistant to Miner Extractable Value (MEV). Moreover, it supports a comprehensive range of financial markets spot trading, perpetual contracts, futures, and options all operating entirely on-chain.
The protocol's decentralized bridging infrastructure facilitates cross-chain interactions, ensuring compatibility with Ethereum, blockchains enabled by the Inter-Blockchain Communication (IBC) protocol, and even non-Ethereum Virtual Machine (EVM) chains like Solana. It makes Injective a versatile platform for various financial transactions in the blockchain space.
Injective claims the third largest AI cryptocurrency with a live market capitalization of $2.48 Billion ranking at 40th among all. Despite being down nearly 47.62% from it's All time high of $52.75, injective has bagged 349% return over the last 1 year.
At the time of writing, the crypto was trading close to $26.59 recording a 7.68% drop in intraday. Out of a 100 million total supply, 93.40 Million INJ tokens are currently in circulation.
Will It open the doors to new all-time high pricesAs of press time, Ethereum has traded at $3,812.6 with a market cap of $457.62 Billion. Ethereum’s price is approaching high-time-frame resistance at $4050, and surpassing would lead it toward $4700. after passing the all-time high of $4700, which was built in November 2021, could open the doors to new all-time high prices.
On the contrary, situation, if the price faces resistance from the nearest resistance, then the price could test the support levels at $3240.0, and $2850.0.
breakout rallies stronglyThe Ethereum price has displayed remarkable fluctuations, initially favoring bulls but shifting to bears. However, recent developments highlight a shift back to bullish sentiment, with a 1.00% rise in price and positive growth in 24-hours trading volume with a 32.59% optimism.
An analyst, Redblack officials, Tweeted with the bullish sentiment on X platform, that a breakout has taken place out of a falling wedge pattern on the daily chart.
Similarly, based on the analyst tweet, the ETH asset daily chart shows that it has been increasing from support and it remains above the 200-day EMAs, which portrays bullish strength in the long term.
Likewise, the MACD portrays a bullish cross, with a rising histogram in ETH at -27.0, and the RSI flashed at 51.48. It portrayed that the crypto is not a losing steam yet and could continue to climb higher in future sessions.
Therefore, if the breakout rallies strongly, then the next goal for the ETH price could be to reach the levels above, such as $3355.0 and $3725.0.
On the contrary, the tweet also stated that if the price plunges and trades inside the pattern again, the bullish pattern would lose its significance and would be invalid.
Likewise, in this scenario, if the Ethereum crypto price fails to stay above the $2855.0 level, it could decline further,as well.
Divergence In Quant Price and OI data: Is A Reversal On the HoriDivergence In Quant Price and OI data: Is A Reversal On the Horizon?
The rising Open Interest figures suggest a disparity with the current price trend, hinting at an impending market upturn.
The Quant price may bottom out if the bulls are able to reclaim the $100 level and sustain above it.
The broader crypto market is on an upward trajectory intraday, attempting to offset recent declines. Leading the charge, Bitcoin has risen by 2.35%, while Ethereum has also seen a 1.65% increase compared to its previous day's close.
In tandem with these market giants, the altcoin Quant is making similar progress, having risen by approximately 1.92% at the time of writing. Moreover, a noticeable divergence between open interest data and price points to a potential trend reversal in the crypto sphere.
Let's explore more using the metrics and try to find insights into potential price movements in upcoming trading sessions.
Open Interest data and Price is showing a divergence!
According to information from the financial analytics platform app.santiment.net, a noticeable divergence has emerged between the price of Quant and the aggregate value of open contracts denominated in USD. Specifically, since May 5th, there has been a consistent uptrend in Open Interest data.
Conversely, during the same timeframe, the price of QNT has been on a decline, further accentuating the divergence. This increase in Open Interest suggests that major players may be positioning themselves in anticipation of a price reversal, despite the ongoing price decline.
The uptick in Open Interest could signal an upcoming reversal for QNT. Nevertheless, investors should look for confirmation in both price and trading volume before drawing conclusions.
Could Quant Crypto Bottom Out If the Market Recovers.
Quant's price trajectory has been on a downward trend, facing significant resistance around the $110 mark before falling below the key $100 level.
Currently, the price hovers around $90, aligning with its prior low point. Now, If the bulls manage to uphold this level and the $90 mark, it could potentially lead to the formation of a double bottom pattern.
Furthermore, A successful ascent above the $110 neckline might then signal a reversal in Quant's price direction. This scenario, however, hinges on a broader market revival.
Conversely, should the decline persist, Quant could descend to new multi-month lows, perpetuating the current bearish momentum.
Conclusion.
The crypto market is rebounding, with Bitcoin and Ethereum posting intraday gains. Quant's price has also surged by 1.92%, despite a divergence between rising Open Interest and falling prices since May 5th, hinting at a potential reversal.
As of Now, Investors should seek confirmation in price and volume. Quant faces a critical juncture: if it maintains the $90 level, a double bottom pattern could indicate a trend reversal, contingent on broader market recovery. Otherwise, the downtrend may continue, leading to new lows for Quant.
#ETH/USDT Bulls in Control#ETH/USDT pair has recently formed a double bottom pattern, finding significant support within a crucial trend box area. This pattern suggests a potential reversal of the previous downtrend and signifies a bullish sentiment in the market. With the double bottom formation in place, Ethereum is likely to experience upward momentum, aiming to retest the $3000 resistance level. Traders and investors are closely monitoring this development, anticipating a continuation of the bullish trend as Ethereum moves towards challenging key resistance levels. This pattern highlights a shift in market sentiment, with buyers gaining confidence and driving the price higher in anticipation of further gains.
