Top Altcoins to Watch Next Week! Experts Predict a Potential Bullish Rally
The crypto market is currently heating up, with investors and traders on the hunt for the next big thing. After Bitcoin and Ethereum yielded massive gains over the past week, traders are now turning their attention to the search for the next altcoins, which have the potential to explode in the coming week. As the altcoin market is yet to gain its maximum potential, many investors are getting into dominating altcoins to enjoy the upcoming bull run.
Altcoin’s Bullish Season is Around the Corner
Since November 2022, Bitcoin’s market capitalization has surged by approximately 80%, reaching the impressive $28,000 mark. However, even with this Bitcoin price pump, many altcoins are still down by as much as 90% from their all-time highs, which presents a prime opportunity for traders and investors to capitalize on in the coming weeks.
Binance Coin (BNB) Price Analysis
On March 23, BNB rebounded from the 20-day EMA ($316), but the ongoing struggle by the bulls to sustain the relief rally suggests the bears are seizing every opportunity to pounce on even minor recoveries.
The sellers will make an attempt to pull the price below the 20-day EMA, and if successful, BNB could experience a drop to $300 and potentially to the 200-day SMA ($289). However, it’s expected that the bulls will put up a strong defense in the area between the 200-day SMA and $265.
As of writing, BNB trades at $323, showing a minor uptrend in the last 24 hours. Analyzing the daily price chart, BNB has formed a triangle pattern, and a breakout above the pattern at $340 will push the coin to trade above $600 by next week.
Polygon (MATIC) Price Analysis
Since March 20, MATIC of Polygon has been trading below the 20-day EMA ($1.14), indicating that the bears are attempting to turn the 20-day EMA into a resistance level.
One small positive sign for the bulls is that despite the bearish pressure, the price has not fallen below the robust support area of $1.05 and the 200-day SMA ($0.96). This indicates that there is strong buying interest at lower price levels.
MATIC price is currently trading at $1.09, with a decline of nearly 2% from yesterday’s price. It is anticipated that MATIC price will make a huge breakout next week as the token will surge above EMA-50 and trade at $1.5.
XRP Price Analysis
XRP price continues to form back-to-back inside-day candlestick patterns, which suggests a state of uncertainty among both buyers and sellers. One small bullish sign is that over the last three days, the bulls have been able to protect the 200-day SMA ($0.40). This could imply that the 200-day SMA may now serve as a new support level next week.
XRP price hovers at $0.447, gaining over 4% in the last 24 hours. It is analyzed that the XRP price will experience a minor dip to $0.43 by tomorrow and then surge throughout the next week to a crucial resistance zone of $0.48-$0.49.
XRP Price Flashing Bullish Signals for the First Time In 18 Months-Will it Reach $1 Now?
XRP price underwent a notable upswing in recent items which were fueled by the rumors of the Ripple vs SEC case being settled on paper. The price soared high to hit $0.45 and reached very close to $0.5. Woefully, the bears quickly jumped in action but failed to drag the price below $0.4. However, the price appears to have awakened after quite a long time and hence may lay down a significant upswing soon.
According to a crypto analyst and a veteran trader Egrag Crypto, the XRP’s price is a ‘sloping’ wake-up line sitting around the $0.38 price range and a close above this range may spark a notable rally towards the north.
Egrag’s analysis considers a sloping wake-up line that has been cleared by the latest weekly candle of XRP. It flashes a massive bullish flag as the price has marked a notable upswing after 100 weeks ever since the token collapsed from the local top of $1.83 in April 2021. Although the price attempted to recover the losses, yet experienced a series of rejections.
Besides, the XRP price is closely following the BTC price trend and hence may trigger a notable rebound in the coming days.
It is quite evident that XRP is overdue to gain some ground on BTC and considering the past scenarios, it can be determined that the price may soon begin with a healthy upswing. However, like the recent price action where-in the bears quickly jumped in and slashed the price lower, a similar action may also be expected in the coming days and hence a close observation of the events that impact the XRP price needs to be closely monitored.
Bitcoin In Accumulation: Crypto Expert Maps Out Bearish and Bullish Scenarios
The public’s confidence in regulators and the financial system has been negatively affected by the banking crisis that has hit the USA as a result of the collapse of SVB and Signature Bank. This has led to investments in alternative assets and the leading cryptocurrencies like BTC and ETH has seen a spike in prices.
In the aftermath of the current crisis shaking the global banking sector, Bitcoin dominance surpassed 47% in March. With a 15% increase from the previous week, Bitcoin surged past $28,000, its highest level in nine months.
Some say that Bitcoin appears to be in its accumulation period, while others strongly disagree and fear that Bitcoin may soon tumble. The analysts are perplexed because the price could change at any time.
Here is an objective analysis of the bullish and bearish viewpoints.
Bullish outlook for BTC
Galaxy Digital is a technology-driven investment firm that provides financial solutions spanning the digital assets ecosystem. They have outlined a bullish outlook and have said that a major bullish catalyst is on the horizon for Bitcoin (BTC) as accumulation soars.
As per Galaxy Digital, the bullish catalyst is Bitcoin’s fourth halving event slated to occur in April 2024. Halving events take place every four years and reduce the amount of new BTC entering the market. The tightening of supply has historically coincided with major moves to the upside in Bitcoin’s price.
Bitcoin’s next halving, scheduled for April 2024, will reduce the network’s inflation rate to less than 1%, with approximately 450 new bitcoin mined each day. The three previous Bitcoin price halves (2012, 2016, and 2020) have historically been credited with launching succeeding bull runs.
Galaxy Digital also identifies the rising Bitcoin accumulation as another bullish development. On-chain data indicates that Bitcoin is continuing to accumulate. The overall number of addresses with a balance greater than zero is skyrocketing.
BTC is stored in more than 45 million addresses. Numerous addresses have only ever received Bitcoin; they have never spent any of it. In the past month, there have been a lot more ‘accumulation addresses,’ as it were.
Bearish outlook for BTC
The likelihood that a significant amount of Bitcoin from the defunct cryptocurrency exchange Mt. Gox could flood the market as it is handed to creditors is the potential bearish market trigger. According to documents from September 2019, the Mt. Gox bankruptcy trustee controls 141,686 BTC in addition to cash and BCH as a result of the exchange attack in 2014.
The current price of BTC is $28,066 USD with a market cap of $542,440,858,542 USD. This was a balanced view of the bullish and bearish outlook of the market. Such events are likely to regularly impact the price of BTC in the near future.
Is Cardano Dead- Why ADA Price Not Impacted by the Bullish Market Sentiments?
While the crypto markets have been witnessing a sigh of relief as the Bitcoin price is trying to secure its levels above $28,000, the Cardano price is displaying a diverse action without being impacted by the bullish market sentiments. The value of the token remained unchanged for quite a long time as it is fluttering within a very narrow range from long. Hence, this stagnant behavior could become a matter of concern for the investors but may not be for a long time!
Cardano, the popular decentralized token built on Proof-of-Stake (PoS) mechanism may undergo a giant price action in the coming days. Ever since it marked its all-time high above $3 in 2021, ADA has been trading within a massive descending trend that also marked the lows at around $0.24. However, the price underwent a notable trend reversal as the crypto markets flipped since the beginning of the year.
Since then the price has failed to secure levels above $0.4, rather than flashing acute bearish signals. However, the historical price data shows the possibility of the token becoming the highest gainer in the markets very soon.
The weekly chart of the token displays the price to have sparked a notable flip as the price has rebounded finely. Presently, the price rebounded from the lower support at 0FIB levels and is trading within an ascending triangle. The consolidation may carry out for another couple of weeks post after which a massive upswing may be triggered to reach the next FIB level at 0.23.
Besides, from an Elliot Wave perspective, Cardano’s price movement appears to be corrective so far. To confirm the ongoing bullish Wave 3, ADA would require a significant push towards the north. However, the market’s behaviour needs to be closely monitored as it signals the potential of a trend reversal. Hence, the levels around $1.16 appears to be pretty crucial which is achievable somewhere this year.
Bullish Indicator Flashes for Altcoins-This is When AltSeason May Kick-off
The crypto markets appear to have gained significant bullish momentum, with the bears being outpowered by the bulls. Although the prices have been drained, they have still sustained strongly above their respective support levels, indicating the bulls carry acute strength to withstand the bearish actions. In the meantime, the altcoins also appear to be at the threshold of a massive explosion as the Ethereum price is closer to flashing the required signal.
Ethereum against Since 2016-17, Bitcoin has been regarded as one of the most important indicators for predicting alt-seasons. ETHBTC is used against Bitcoin, meaning that when Bitcoin is bullish, ETHBTC will be bearish, and when ETHBTC looks bullish, Bitcoin will be looking weak.
Presently, the ETH/BTC pair has suffered extreme losses as the Bitcoin price has thrived and reached levels above $28,000. This also indicates that the altcoins are weaker at the moment, and only a flip in the ETH/BTC pair may spark a notable recovery. However, after dropping hard, the price is currently trying hard to hold back and halt the downward trend.
Therefore, the possibility of a healthy rebound looms, which may uplift the altcoin market within the crypto space. Ethereum is the second-largest crypto after Bitcoin and has a significant influence over other altcoins as many of them have been built on the ETH platform. Hence, the ETHBTC could be a good indicator of the overall health and performance of the altcoins.
Shiba INU Price on the Long Run: Need to Achieve These Levels to Keep Up Bullish Momentum!
The Shiba INU price has been trading within a downward channel ever since it failed to surpass the interim resistance at $0.00001133. The descending trend which is seen in most of the altcoins is a result of the rising dominance of the star crypto, Bitcoin. Besides, the beta launch of the much-awaited Shibarium has also been delayed, which has also cooled down the hype surrounding the project.
Despite the chaos around the project, the whales appear to be pretty confident about the upcoming swing. As per the reports from Whalestats, a couple of whales have accumulated massive amounts of SHIB tokens in a single transaction. Two of the high-profile ETH whales have accumulated more than $10.8 million.
The top 100 whales have collectively held Shiba INU worth $606 million, followed by MATIC worth $166.8 million, BEST worth $155.9 million, and Chainlink worth $146.4 million. Although the bullish momentum has accumulated, the SHIB price must reach these levels to keep up the bullish momentum.
The SHIB price is currently ranging around $0.00001082 but continues to remain within a descending parallel channel that ignited in early February. The token, however, has not managed to break above the channel, which may require it to move above $0.000011. To do so, the SHIB price is required to rise above the 200-day EMA levels, which were previously breached by the bulls during the first fortnight of 2023.
The price, however, managed to break the 200-day EMA and plunged during the first few days of the month. Presently, the 200-day EMA is at $0.00001171, which can be considered the most important level to confirm with a breakout from the descending trend channel. Beyond these levels, a notable upswing may be confirmed that may rise the levels beyond $0.000012 in the coming days.
Bitcoin Price Analysis: This Level Will Determine if BTC Price Will Hit ATH this Bullish Season
With traditional banking in disarray and some investors turning to digital assets, Bitcoin hovered near nine-month highs on Monday and finished the week with its best performance in four years. It increased 26% last week and has increased more than 35% in the past ten days. The global banking crisis, which started with the failure of Silicon Valley Bank has now gripped the market.
Bitcoin may be just one resistance level away from setting a new record high, according to analyst and trader DonAlt. In a new strategy session, the analyst said that the king coin looked strong on the monthly chart after it recently broke the $24,000 resistance level. He went on and claimed that it was BTC’s first significant bullish sign since November 2021, when BTC reached its record high of $69,000.
The trader said that it has been ‘very very long’ since Bitcoin looked this nice on the charts. However, the DonAlt also said that since the monthly’s all-time high, there hasn’t been any bullishness. He added that technically, the first bullish signal will be sent if this monthly closes above resistance, which is currently at roughly $24,000.
Is $35k the Ultimatum for BTC?
He said that the monthly signs typically last for more than one or two candles. According to the trader, the level of $35,000 represents resistance and if that level is broken, he advises traders not to sell their holdings before a new ATH.
DonAlt also claimed that he sees a scenario where Bitcoin might surge near $33,000 before correcting to $27,000 to prepare for an attempt to overcome resistance at $35,000.
“Stuff like that happens all the time. When you get a rejection just before a big level on a high timeframe and then you have a weak pullback or two weeks into just another push into that monthly resistance, and then it actually shows whether it wants to go up or not.”
Cardano’s Tvl Hits 20% Growth – Could This Be the Catalyst for Ada’s Bullish Run?
Cardano, one of the most popular blockchain networks, is seeing significant growth in its Total Value Locked (TVL) metrics. Data from DeFi Llama shows that TVL of the Cardano network has seen an increase of 20% almost every month, highlighting the increasing popularity of the network’s DeFi ecosystem.
The rising popularity of ADA among institutional investors
ADA’s rising popularity among institutional investors and large wallet holders could emerge as one of the drivers of the altcoin’s price rally. Based on data from crypto intelligence tracker IntoTheBlock, the volume of large Cardano transactions exceeding $100,000 is on the rise. The trend indicates that institutional investors and Cardano whales are increasing their engagement with the Ethereum-killer token.
While a spike in whale activity is typically considered indicative of a correction in the asset’s price, large volume transactions on ADA network are accompanied by a steady increase in the asset’s price. Over the past week, ADA yielded nearly 8% gains for holders.
TVL grows, but ATH remains far away
While the total value locked on Cardano experienced a 20% jump this year, its previous all-time high remains afar. When ADA reached its ATH of $3.09 in September 2021, the TVL stood at a staggering $3 billion. Therefore, if ADA needs to aim for $1, the TVL requires a dramatic push similar to the market rally of 2021.
Only a bull run could pave the way for the possibility of a push and the current conditions don’t favor it. ADA is hovering around the $0.33 mark unable to break its resistance level of $0.40 for more than two months.
While an increase of 20% in TVL is a positive development, it only shows a brief recovery. The development alone might not take ADA to the finish line. Touching its previous TVL highs of $3 billion might take years, as the global economy is not in the right shape.
Cardano network showing significant improvement
However, the Cardano network is showing significant improvement despite a financial downturn. Therefore, when the bull run begins, ADA could kick-start a price run and surprise investors with its efficiency.
Cardano hit an important milestone in its developmental journey going full peer-to-peer with node 1.35.6. Developers called all Staking Pool Operators (SPOs) to get on the testnet and test the speed and efficiency of the Ethereum-killer blockchain network.
Shiba Inu and XRP Prices Set to Ignite a Bullish Rally! Expert Analyst Charts Resistance Levels for SHIB and XRP
Investors are scrambling to withdraw their funds from the crypto market to avoid potential risks, leading to intense selling pressure. Unfortunately, the altcoin market has suffered a significant blow due to Silvergate bank’s operational pause, which has left it range-bound. Nonetheless, in the midst of this bearish market sentiment, investors have added Shiba Inu and XRP tokens to their portfolios. This is because of the excitement surrounding the launch of Shibarium and Ripple’s confidence in winning their legal battle against the SEC, forcing investors to make long-term bets on Shiba Inu and XRP, respectively.
Shiba Inu And XRP Aim For A Bullish Future
In the last few weeks, the crypto market’s high fluctuation rate has left investors anxious and frustrated. Moreover, the possible interest rate hikes hinted at by Jerome Powell have become a price barrier for the altcoin market. However, despite facing challenges in the past, Shiba Inu and XRP prices are poised for a turnaround as the current market conditions and recent developments signify a potential bullish rally.
Shiba Inu (SHIB) Price Analysis
Shiba Inu has become one of the most talked-about meme coins in 2023, as it has gained over 70% since January. As Shiba Inu aims to accelerate transaction speed with the launch of Shibarium, it seeks to place it at the top of DeFi applications.
Moreover, the massive revenue rise for the Shibaswap platform may soon spark fresh surges for the SHIB token.
According to IntoTheBlock, a crypto intelligence tracker, Shiba Inu’s next significant resistance lies within the range of $0.000014 to $0.000020. This range is critical because it represents the level at which 98,240 addresses purchased a staggering 469.97 trillion SHIB tokens.
As of writing, Shiba Inu trades at $0.00001105, with a decline of over 1.5% in the last 24 hours. A well-known analyst, MMB Trader, predicts a bullish comeback for the SHIB token as a rebound from $0.00001021 will push the token to crucial resistance of $0.000017. If the SHIB token breaks the crucial resistance, it may witness a heavy pump and surge to $0.00002044.
XRP Price Analysis
XRP has been experiencing a steady upward trend since March 6, but it was on March 7 that the price surge gained significant momentum. This resulted from Judge Torres’ decision to exclude expert testimony from the Ripple lawsuit, leading investors to speculate that the lawsuit’s resolution may be closer than expected. As a result, the rally has strengthened, bringing renewed optimism to XRP investors.
As of writing, XRP price trades at $0.394 with a gain of 0.64% in the last 24 hours. Analyzing the 4-hour price chart, XRP price is gaining much attention from the bulls as it witnesses a spike in buying pressure. The $0.4 mark still plays a crucial role in the XRP price chart as a breakout above the triangle pattern will send XRP above 38.6% Fib level to trade near $0.55.
XRP Price Analysis: Will the Crypto Space Follow the XRP Price’s Massive Bullish Signals?
The Ripple vs. SEC lawsuit is the most followed topic within the crypto space, as it smelt the possibility of a victory over the agencies. After multiple hearings and arguments, the judge could produce the final ruling at any time now. At this time, the XRP price is accumulating some strength as it may trigger a huge bullish wave in the coming days.
The XRP price continues to hover above $0.39, a spike of more than 12% in the past few days. Although the BTC price faced a major drop, the price of XRP maintained huge strength and hence may surge beyond $0.4 in the next few hours.
Moreover, the rally does not appear to be a short-lived one, as the chart patterns and the technicals are extremely bullish.
- The XRP price is trading within the same decisive symmetrical triangle that it began during the Q4 2022
- After rebounding from the lower support, the price reached the upper resistance and could slice through these levels shortly
- Moreover, the RSI levels are rising high without displaying any bearish divergence and hence a breach through these levels could be quite possible
- Additionally, the buying pressure has mounted and hence the upswing is believed to prevail until the price marks new yearly highs above $0.42
Shibarium Beta Launch Date Approaches-Will SHIB Price Receive a Bullish Push?
The crypto market is yet again plunging as the star crypto, Bitcoin, fails to retain its levels above $22,000. The majority of altcoins have followed Bitcoin and have begun to undergo a massive price slash, including a popular meme-coin, Shiba INU. The SHIB price has dropped by nearly 30% since the yearly highs and is heading to test the lower support level close to $0.00001.
In a major update, the much-awaited, layer -2 blockchain scaling solution within the SJINb Ecosystem, Shiabrium, is all set to go live anytime before the weekend.
The platform is set to launch a beta test net which is a set of off-chain solutions built on top of layer-1, replicating real-world functionality to reduce the data load and fees. Shibarium and the Shiba INU developers are believed to remain focused on the metaverse and gaming applications.
Despite the massive announcement, the SHIB price continues to maintain a descending trend as the markets are currently under a huge bearish influence. The price that faced rejection from $0.000015 levels in the first week of February, drove the price lower, close to $0.00001 at the moment.
- The Shiba INU price was trading within a rising parallel channel since the beginning of 2023, but the recent pullback drove the prices lower
- The price sliced through the lower support of the channel and is heading firmly to test the bottom at around $0.000008
- However, a strong flip from the last point of defense at $0.00001 may invalidate the bearish thesis for a while but may certainly not eliminate the possibilities
- The RSI is heading towards the oversold levels and hence the price may continue to drop lower, probably below $0.00001
Collectively bearish clouds have hovered around the crypto space as the Shiba Inu (SHIB) price continues to flash bearish signals in the short term.
Bitcoin Live News: A Massive BTC Price Move is Imminent This Quarter – A Bullish Upswing on the Cards?
The bitcoin price, after consolidating within a very narrow range for a few days, plunged below the crucial support level of $22,000. The bearish volume has accumulated heavily, which may keep the rally within the consolidation range for an extended period. Hence, the price is believed to test the lower support below $21,500 in the coming days, which may attract huge liquidity to the platform.
In the times when the BTC price is believed to be slashing down hard, some possibility of a bullish divergence continues to flash. The price could display massive price action before the end of the month, which may raise the price levels by more than 20% to 25%. Hence indicating the possibility of a trend reversal, sparking a fine upswing.
Apart from this, a couple of technical indicators are also pointing towards a bullish breakout and suggest that the price is at the tip of a massive explosion.
The crypto space appears to have ignited a panic button as the BTC price has dropped below $22,000. But in the longer time frame, diverse action is being witnessed that points out a surprising upswing before the end of the month. The stochastic RSI in the higher time frame is flashing a massive buy signal, considering that the price may leap in the coming days.
The StochRSI levels have crossed bullish after holding their trend within the oversold levels throughout 2022. Presently, with a slight upswing in the levels, the BTC price has recorded a more than 50% jump since the beginning of the year. Meanwhile, during the previous examples, the star crypto has surged by more than 150% and has also ranged up to 250%.
The bullish breakout of the StochRSI has kicked off a massively bull rally previously and hence a similar price action may be expected at the momentum.
Bitcoin Price Needs to Dip to this Level to Fuel a Bullish Potential! Analyst Ends Waiting Period for BTC Bulls
The cryptocurrency world has been buzzing with excitement as Bitcoin traders await a potential price surge after the BTC price reaches its monthly lows. Experts have been closely monitoring the market, and many believe that more dip in Bitcoin’s price could be the catalyst for a bullish run. As Bitcoin price consolidates in an uncertain region, it leaves investors with confusion if a bullish reversal is on the horizon.
Market Sentiments Are Bullish On Bitcoin’s Price
According to Chris Burniske, a former lead crypto analyst at ARK Invest, the current positioning of Bitcoin’s price on the chart is a matter of perspective. While some bearish investors may see a range moving towards a breakdown, Burniske catches a beach ball that cannot be kept down.
The analyst emphasized that macroeconomic indicators, specifically the dollar index (DXY) and rates, remain crucial in determining Bitcoin’s current state. If both indicators experience a decline, Bitcoin could potentially break through its $25,000 resistance level. Additionally, the analyst is closely monitoring Ethereum’s (ETH) price movement against BTC, as he believes it has the potential to surge significantly in the future.
Despite Bitcoin’s price being trapped in the low of $20,000 range, there is a glimmer of hope as a high time frame momentum tool- LMACD has recently signaled a bullish crossover. This signal has previously resulted in at least a 1,000% return on investment for Bitcoin.
Although selling pressure appears to have eased, Bitcoin’s price chart and several weeks of consolidation suggest a lack of buying activity. In the past, a trend reversal has been marked by momentum measures turning up on a higher timeframe.
Bitcoin To Rebound From $20K
For the third consecutive day, Bitcoin (BTC) has been consolidating above the $22,000 support level, with resistance at $22.5K proving to be a challenge. During this period, the candlestick pattern has transformed into a series of Doji candlesticks characterized by their small body and indicating market indecision.
BTC price is moving just above the EMA-50 trend line with less volatility as investors are waiting for macro events to occur in the next few days. As of writing, Bitcoin trades at $22.3K with a minor downtrend.
Analyzing the daily price chart, Bitcoin may soon make a breakout below its $22K level and head toward its major support level at $20K. A prominent crypto analyst, MMB Trader, predicts that Bitcoin price is set to rebound from the support region of $20K as investors will start opening long positions near this dip.
A surge above the EMA-20 at $23k will push the asset to $26K, from which the BTC price may fly to a new high of $32K.
XRP Price Holds Strong at $0.35 Support Level! Experts Predict Bullish Ascending Pattern on the Horizon
Recently, the crypto market has been filled with obstacles, forcing several assets to hover near their weekly lows. In addition, the financial crisis at the Silvergate bank has enabled many crypto exchanges to cut ties with the bank, creating bearish pressure in the altcoin market, and XRP is no exception. However, the token’s price is still on the verge of a bullish rally as Ripple CEO heads toward the conclusion of the lawsuit against the SEC with high confidence.
Ripple Sheds Bullish Hope On XRP Price
During a recent interview with Bloomberg, Ripple’s CEO Brad Garlinghouse shared some noteworthy insights. Garlinghouse believed the current dispute with the SEC would likely be resolved sometime this year. He also emphasized the significance of the upcoming decision, stating that it would have a “pivotal” impact on the broader cryptocurrency industry.
Moreover, Ripple is focused on its developments as Antony Welfare, Ripple’s senior advisor for CBDC and global partnerships, recently provided new information regarding the company’s “state cryptocurrency” initiatives. Welfare revealed that Ripple is currently in an advanced stage of development for its projects with Bhutan and Palau.
As XRP price recently made a dip, it attracted whales to accumulate a large amount of tokens. According to data from WhaleAlert, whales have moved more than 681 million XRP tokens in multiple transactions worth roughly $252 million.
The largest transaction was a transfer of approximately 270 million XRP, worth around $99 million, from an unidentified wallet address to another. This whale movement hints at the ongoing interest among investors as XRP price will soon skyrocket after Ripple’s winning in the lawsuit.
What Lies Ahead For XRP Price?
XRP price has climbed nearly 12% in the last 30 days, making a high of $0.42. However, the token has witnessed a price dip of over 4% in the last few days due to several macro conditions that shook the crypto market.
XRP bulls have defended the crucial support level of $0.35 multiple times as XRP still creates hope of a bull run by March’s end. After taking support at $0.3539, XRP price has again surged above its 23.6% Fib level and aims to break its monthly resistance level in a few days.
As of writing, XRP price trades at $0.365, with a decline of nearly 1.7% from yesterday’s price. Analyzing the daily price chart, XRP price is now preparing for a rebound above its 38.2% Fib level. A prominent crypto analyst, WorldofChartsFX, predicts a massive breakout for XRP in a few weeks. The analyst expects a high above $2 if the XRP price breaks the resistance of the triangle pattern at $0.55.
Why The Future Of Cryptocurrency Is Looking Bullish With TMS Network (TMSN) Optimism(OP) And STEPN (GMT)
While 2022 was not the best year for cryptocurrencies, with most losing more than two-thirds of their value, 2023 is expected to be a year of a comeback and exceptional growth in the ecosystem. Finding profitable cryptocurrency projects can be difficult for many investors. This article will discuss TMS Network (TMSN), Optimism (OP), and Stepn (GMT), three cryptos with the potential to explode in 2023. TMS Network is expected to grow by 1000%.
TMS Network (TMSN): Transforming Trading
TMS Network (TMSN) is a novel DeFi-focused platform that aims to solve problems in the trading industry. TMS Network (TMSN) addresses major trading issues such as high trading fees, price manipulation, wash trading, limited tradeable asset classes, and platform insecurity.
TMS Network (TMSN) stands out from the competition by allowing traders access to a wider range of asset classes, including cryptocurrency, equities, forex, and CFDs. It also features cutting-edge risk management tools and a wealth of educational materials.
To address the issues that centralized platforms face, TMS Network (TMSN) utilizes decentralized technology to allow traders to reclaim control of their assets and trade with complete autonomy. The broader blockchain technology helps differentiate TMS Network (TMSN) from traditional trading platforms by improving trading security, transparency, and efficiency.
On-chain analytics tools, portfolio management applications, trading bots, social trading, and trading signals are some of TMS Network’s (TMSN) key features for a more efficient trading experience. These tools help traders manage risk and make informed trading decisions.
Furthermore, unlike most trading platforms that limit traders to only crypto or crypto-related assets, TMS Network (TMSN) allows crypto-to-fiat trading.
Optimism (OP): scaling Ethereum
Optimism (OP) is a popular layer-2 scaling chain built on the Ethereum network. Layer-2 scaling chains are platforms designed to provide fast and cheap blockchain transactions by adding an extra layer to a layer-1 chain, such as Ethereum, where transactions can be processed.
Despite being relatively new, Optimism (OP) has quickly captured the attention of developers and investors alike. Optimism (OP) has been one of the best-performing crypto assets in 2023, soaring roughly 200% YTD at one point. Analysts believe Optimism (OP) will continue to perform exceptionally well due to the network’s integration with dozens of DeFi protocols. Optimism is home to some of the most popular decentralized solutions, such as Synthetix (SNX).
Furthermore, Coinbase recently announced that it will launch its own Layer-2 chain for Ethereum based on Optimism technology. Optimism has also benefited from increased on-chain activity, which indicates that investors are pouring into the network. This could cause Optimism (OP) to surpass its all-time high in 2023.
STEPN (GMT): Driving Blockchain Adoption Among Fitness Enthusiasts
STEPN (GMT) is a lifestyle app that rewards users with cryptocurrency for running, walking, or jogging. STEPN (GMT) is a market pioneer, having been the first platform to integrate the move-2-earn concept. As more people enter the cryptoverse in 2023, STEPN (GMT) will most likely gain popularity, particularly among fitness enthusiasts who enjoy walking and running. STEPN (GMT) finished fourth at the 2021 Solana Ignition Hackathon, solidifying its position as an innovative blockchain network. STEPN (GMT) aims to inspire millions of users worldwide to live a healthier lifestyle and avoid driving high-emission vehicles.
$TMSN Presale Campaign
TMS Network (TMSN) recently finished the first phase of its four-phased presale campaign. This round’s success raised over $500,000 in the first two weeks. The $TMSN token presale price also increased to $0.025. This price will rise further as more investors join in. Early investors will see over 1000% return on investments when the token goes live. Take advantage of this low price and buy $TMSN today by joining the network’s presale.
For more information on TMS Network (TMSN), please see the links below:
Presale | Telegram | Discord | Twitter
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Bitcoin’s Golden Cross Emerges: Is This Another Opportunity For A Bullish Breakout?
Bitcoin price dropped below $22,500 from $23,400 in minutes following the Silvergate fiasco. Major exchanges stopped dealing with the crypto-friendly bank that created huge FUD within the space.
As a result, massive liquidations were recorded in the early trading hours. While the market participants have become extremely bearish on Bitcoin, some chances of a rebound may be expected in the coming days.
Coinpedia reported earlier that Bitcoin price experienced a ‘Golden Cross’ event during the previous month, but woefully, the price remained largely unaffected as the very first weekly death cross was on the cards. However, another opportunity for the price to break out of bearish captivity and rise high has presented itself.
On February 7, 2023, a golden cross occurred on the daily timeframe in the spot market, resulting in a significant failure of the bullish signal. A similar event, however, is about to occur in the future price chart, which may offer a nice upward movement.
CME Group, commonly known as the Chicago Mercantile Exchange, which began to offer the very first BTC futures, is flashing massive buy signals.
A Golden Cross, where-in a cross over of 50-day & 200-day MA levels undergoes a crossover, is believed to occur in a short while from now.
In the past, the early signals of a breakout have been false; therefore, other signals like gaps and the filling of them could be quite evident.
Will the upcoming Golden Cross confirm the bullish signals? Stay tuned with Coinpedia for updates on this event!
Top Reasons to be Bullish on Ethereum-ETH Price Could Reach $2000 by the end of Q1 2023
Ethereum’s price has been trading quietly without making huge noise and within a very narrow trend. Ever since the price rose beyond the pivotal levels at $1500, the trend remained consolidated between a very narrow range.
However, the direction of the upcoming trend remains hazy as an equal brawl between the bulls and bears is currently taking place.
Despite all the odds, a couple of reasons do point towards the resurgence of the Ethereum bull run very soon.
When looking at the trend line, the “bump and run” strategy that signifies the reversals that may occur suggests an event may be in line.
Besides, the indicators like moving averages indicate that the ETH price carry a huge potential for an upside correction. Previously, the bear market was confirmed when the price had lost the 100D MA levels.
Presently, the ETH price is trading right on top of these levels, which have been secured after more than 400 days of consolidating below them.
Hence flashing extreme bullish signals in a short while from now. With a bullish breakout, the Ethereum (ETH) price is believed to reach beyond crucial resistance at $1800 initially and later may attempt to rise beyond $2000.
Will the Bullish Scenario Prevail until the Weekend?
Bitcoin price today has increased by nearly 1.98% and is trading at $23,752 at the moment. Meanwhile, the other altcoins witnessed a minor pump, painting the entire crypto space green at the moment. With the bullish sentiments growing market [articipants could be bewildered whether the price may sustain the upswing or it is just a short-term bounce.
Some analysts believe that the BTC price is primed to drop back below $20,000 while some of them believe in the bullish trajectory. The price holding above the crucial support could offer substance to the bullish claim. Besides, the hash rate or the computational power required to process a single block of BTC has marked new highs.
The growth in the hash rate indicates the platform becoming more decentralized, more secure and less prone to any illegal activities. Also, it indicates a rise in the mining process as more nodes may have joined the network, making the validation process strenuous. Apart from this, the BTC price has managed to rise above the ascending trend line that it followed since the beginning of the year.
The Bitcoin price is currently trading in an ascending triangle, as the price approaches the apex of the consolidation. The RSI has displayed a bullish divergence, and hence a positive outlook emerges for the BTC price. Therefore, the star crypto may rise and test the immediate resistance above $24,500.
However, a bullish breakout is expected here, but the bearish volume has accumulated heavily and hence the upswing may not sustain for long, compelling the Bitcoin (BTC) price to drop back. within the triangle
Bitcoin Price Rebounds From Crucial Level! Is A Short-Term Bullish Rally Approaching Soon?
After witnessing significant losses in the last week, Bitcoin price is now back on a recovery track as it gains support from bulls to hold strong against its support level. Bitcoin’s price is set to end February with an increase of over 40% since the beginning of the year, building the most optimistic scenario to start a year for the asset since its unbeaten price trend in 2021.
Bitcoin Sets The Stage For An Epic March Showdown
Bitcoin price witnessed a rollercoaster trend with noticeable volatility throughout February, leaving investors and traders on the edge of a bearish trap. However, BTC price has been again on the headlines as it has sparked bullish hopes of breaking its monthly resistance level. However, market analysts believe Bitcoin will trade with a choppy price trend in March as on-chain data suggests historical bottom.
On-chain analyst firm, Santiment, revealed that sellers were exiting their positions in a loss rather than a profit when Bitcoin price sharply dropped. The firm believes it is a sign of another bottom in the BTC price chart, as a bottom price level has been historically observed during sellers’ frequent exit from positions in a loss.
Santiment stated, “Bitcoin and Ethereum are both having more traders sell at a loss than at a profit this week, the first such week so far in 2023. Historically, once the crowd is exiting their positions more frequently at a loss, bottoms are more likely to form.”
Bitcoin To Plunge To $22,000 Again
Traders are now in an uncertain situation as Bitcoin price is set to face a week of bumpy news with the Brexit deal on the table. However, bitcoin price successfully formed a support level at $22.7K and bounced back above its 31.8% Fib level as bulls took charge on Sunday.
As of writing, Bitcoin trades at $23.8K, with a gain of over 2% in the last 24 hours. Analyzing the daily price chart, Bitcoin price is now heading toward testing buying pressure near the $24K level. A spike in bulls’ confidence will send the asset to a consolidation level of $25K, from which BTC can make a bullish reversal.
As the RSI is not creating a bullish pattern with the trading volume, a short-term downward retracement is expected. A breakout below the EMA-20 trend line at $23.4K will harm buyers’ sentiments, and Bitcoin will head toward the bottom level of $22.6K.
Crypto Markets Live: Is a Bullish February Close an Indication of the Start of a Bull Run?
The crypto market is approaching yet another monthly close, which is largely expected to be bullish. The month of February has been bullish, recording huge gains regardless of the trend of the previous month. By registering two consecutive bullish monthly closes, it can be derived that the crypto markets may have risen beyond the bearish captivity.
But how long will the bullish trend continue? What if history repeats itself? Will the crypto markets again fall into a deep bear market?
The historical price action of the crypto space suggests that February has been a bullish month, recording an average gain of 187.83% since 2011 with an average of 12.52% per year. Excluding the 2018 bear market, where-in their action was witnessed in the first few weeks of 2018, the crypto markets recorded magnificent gains for the rest of the year.
Woefully, the markets have surged just 2.12% compared to the previous 39.83%, and hence the fear of a bearish close still haunts the token.
Referring to the above chart, it can be assumed that after February, April may incur equivalent or higher gains, as March may remain consolidated or bearish. Moreover, in the acute bearish case, the entire Q2 has been heavily bearish in the past couple of years. Therefore, it is very much important for the crypto space to remain bullish until the monthly close as a fine upswing could be ignited ahead.
Collectively, Bitcoin prices are becoming unpredictable day by day and the historic profit and loss chart above substantiates this claim. 2021 was marked as one of the bullish years but still, Q2 registered a massive price slash. Besides, March has been bearish for ages and a bearish close for February may fuel the bearish market sentiments.
Cardano’s Bullish Trend Comes To A Halt As Bearish Trap Emerges! Will ADA Price Rebound Soon?
Cardano network made itself at the top of the league with continuous developments last week. However, despite gaining much traction with its Valentine’s upgrade, ADA price is now struggling even to hold its support level. Moreover, the latest downward move by Cardano has left investors worried as a bearish trap has formed, leaving ADA price vulnerable to new lows.
Cardano Takes An Unexpected Turn Amid Major Upgrades!
Input Output, the developing team behind Cardano, has recently released its weekly report on the development of the ecosystem. This update follows the Valentine’s Day release and precedes a significant milestone on Cardano’s roadmap: the journey to the Voltaire era.
The roadmap states that the Voltaire era is the fifth and final phase of Cardano’s development. This transition is of particular significance, as Cardano’s founder, Charles Hoskinson, has previously said that it will demonstrate the process of implementing decentralized governance in the crypto industry.
According to reports, the development team has been making ongoing efforts to address technical backlogs, enhance testing infrastructure, and improve documentation related to the formal CIP-1694 specification, which outlines a proposal to transition into the Voltaire era.
Though the Cardano network is putting all efforts toward improving users’ experience, the ADA token has made a significant price plunge in the last few days and seems to form a bearish trap ahead with a solid divergence pattern.
What’s Next For ADA Price?
For the last two days, the bulls were successful in maintaining Cardano’s ADA token above the critical support level of $0.35. However, they were unable to maintain the rebound above the EMA-20 trend line at $0.38, indicating that the bears are selling during small rallies.
As of writing, ADA price trades at $0.36, with a decline of 4.41% in the last 24 hours. Looking at the daily price chart, bulls are now defending the weekly support level of $0.35, as a breakout may slump the token to $0.28.
However, a prominent crypto analyst, MMBtrader, predicts that ADA price is now preparing for a reversal as it has reached the buyers’ zone for initiating long positions. As seen in January, ADA may continue its bearish trend to $0.32 and make a bullish comeback which will push the token’s price to the critical resistance of $0.42. A trade above EMA-200 will take the token to the level of $0.5 by the beginning of March.
Will Meme Coins Make A Comeback Soon? These Meme Coins Are Showing Signs Of A Potential Bullish Rally
This week, the cryptocurrency market has experienced a tumultuous price trend due to panic surrounding the FOMC meeting and the SEC’s ongoing regulatory actions, resulting in significant volatility within the industry. However, investors are now turning to meme coins as a means of securing stable profits, given Bitcoin’s lack of a noticeable uptrend.
These Meme Coins Are Poised For A Massive Surge!
As continuous interest rate hikes by the Fed have resulted in a significant decrease in cryptocurrency investors’ portfolios, concerns are on the rise. However, investors are now gravitating toward meme coins due to their perceived resistance to macroeconomic conditions, as it has resulted in a stable price momentum for meme coins, even during Bitcoin’s downturns.
Floki Inu Price Analysis
According to data from CoinMarketCap, the meme-inspired cryptocurrency Floki Inu, which has been hailed as Dogecoin’s rival, experienced an unexpected price surge of over 20% in the last two days. Floki Inu’s transparent roadmap and recent tie-up with Amino rewards have caught buyers’ attention in investing in the meme coin.
As of writing, Floki Inu trades at $0.00005, with a gain of 4.5% in the last 24 hours. Despite a solid bull run of over 30%, the meme coin is experiencing a minor setback. However, the price is set to rule as it may form support near the 31.8% Fib level at $0.000044 before preparing for a skyrocketing price trend. As the RSI is still in a bullish region, a breakout above the $0.000061 level may push the meme token to its second target of $0.00007.
Shiba Inu Price Analysis
Shiba Inu is waiting for a heavy pump ahead as it has again surged from its 23.6% Fib level. As of writing, SHIB’s price trades at $0.000013 with an uptrend of 3.27%.
According to a prominent crypto analyst, MMBtrader, SHIB’s price is ready for a huge surge above the resistance of $0.000017. If Shiba Inu follows its Elliott wave path, it may soon head toward its crucial resistance of $0.00002.
Dogecoin Price Analysis
Dogecoin’s price has been stagnant over the past few days, indicating caution from both bullish and bearish investors who are refraining from making significant bets. Furthermore, the DOGE price has become range-bound near a bearish consolidation level at EMA-100, leaving meme investors in a trap.
As of writing, DOGE price trades at $0.084, with a decline of nearly 1% in the last 24 hours. The RSI is hovering near the midpoint, favoring both bears and bulls. However, the meme token has formed a symmetrical triangle pattern, and a breakout above $0.093 may send DOGE price to $0.14.
Altcoin Season Is On The Horizon! These Altcoins May Print Impressive Bullish Momentum Soon!
In the past week, several altcoins have experienced substantial gains, with some seeing double or even triple-digit increases. However, the top two cryptocurrencies, Bitcoin and Ethereum, have remained relatively stagnant without impacting the overall market as they have continued to consolidate their position without significant upward momentum.
Altcoin Traders To Enjoy A Bullish Ride Soon
The last week has shown the bottom price levels to traditional crypto investors, including Bitcoin and Ethereum, forcing the crypto market to shift their attention to the top-notch altcoins for investment.
Altcoin traders are now eagerly awaiting the upcoming bullish season as the metric Altcoin-Season index is heading toward 75, currently trading at 41.
Stacks (STX) Price Analysis
The STX token has surged over 160% in the last few days as it has witnessed a steady growth in NFT activities on the Stacks blockchain amid the Bitcoin NFT (Ordinals) hype.
As of writing, the STX token trades at $0.87, with an uptrend of over 10% in the last 24 hours. Looking at the daily price chart, STX price may build a bullish trend continuation as it forms a cup-handle pattern. A breakout above $0.89 will send the token to trade near the next resistance of $1.03.
Aptos Price Analysis
Aptos price is preparing for a 50% upswing this week as it has taken support above the EMA-50 trend line. According to CoinMarketCap, the Aptos token trades at $13.79, with a gain of 5.53% from yesterday’s price.
Observing the 1-day price chart, the Aptos token has formed a ‘W’ pattern, which signifies a potential bullish rally if APT breaks above the EMA-20 trend line at $14.2. If it gains buyers’ confidence and pressure, the APT token may surge above $16.3 this week. Moreover, the SMA-14 forms a bullish divergence with the RSI-14, hinting at a 50% upswing soon.
Lido Dao Price Analysis
Lido Dao has been on an upward rally, getting continuous support from bulls with solid buying pressure. After forming a bottom at $2.63, the LDO token has broken its 31.8% Fib level and has continued to surge.
As of writing, LDO trades at $3.12, with a gain of nearly 10% in the last 24 hours. APT is currently moving near the immediate resistance level of $3.2, and a push above this may take the LDO token to $4.
The impact of Bard, ChatGPT on Fetch.ai, Bullish signals of Ocean Protocol are not being noticed, Traders have hope for TMS Network
Fetch.ai (FET) was founded by Thomas Hain, Humayun Sheikh, and Toby Simpson. Fetch.ai (FET) was designed to train digital twins, and forms a crucial part of smart oracles and contracts on the platform. Through Fetch.ai (FET), users can deploy their set of digital twins on the network. Staking of Fetch.ai (FET) tokens also enables validation nodes.
Ocean Protocol (OCEAN) helps unlock data that is challenging to access. Ocean Protocol (OCEAN) does so by allowing users to tokenize their database and release it on the Ocean market. This method by Ocean Protocol (OCEAN) allows data publishers to earn additional income, and supports researchers and scientists in accessing data for analysis.
TMS Network (TMSN) has taken the trading world by storm by launching a decentralized trading platform. The new platform by TMS Network (TMSN) has revolutionized the way traders transact. TMS Network (TMSN) platform allows traders to deposit and withdraw funds via crypto instantly.
Has Google Bard killed the AI hype and caused Fetch.ai (FET) to fall?
ChatGPT and other AI narratives have proved beneficial for AI-tokens like Fetch.ai (FET). After the emergence of ChatGPT, Fetch.ai (FET) has rallied almost 1000%. This also prompted Google to launch Bard, ChatGPT’s AI competitor.
After rallying for several months, Fetch.ai (FET) has dropped nearly 17%. This is mostly owing to negative news surrounding AI and Bard. Fetch.ai (FET) has outperformed the market for a long time and experts claim that a new bull market could be beginning. Although Fetch.ai (FET) suffered two drawdowns during the previous bull market, experts believe that it could rise again and this presents a good buying opportunity. Fetch.ai (FET) is priced at $0.3867.Ocean Protocol (OCEAN) shows no signs of slowing. Can it continue this way?
Ocean Protocol (OCEAN) has shown tremendous growth and outperformed almost all cryptos. Ocean Protocol (OCEAN) shows no signs of slowing down and market conditions are staying in its favor. The current Ocean Protocol (OCEAN) price is $0.4253, and the RSI level is around 80.
Experts, however, say traders should exercise caution when investing in Ocean Protocol (OCEAN). This is because the uptrend of Ocean Protocol (OCEAN) depends on the 21-day moving average. If the barrier breaches, there is a potential of market decline in Ocean Protocol’s (OCEAN) value by as much as 50%.
TMS Network (TMSN) is committed to improving transparency and reducing trading fees
The new TMS Network (TMSN) decentralized trading platform allows for a secure trading environment. TMS Network (TMSN) has eliminated the need for intermediaries and traders can trade any of their assets on the platform.
TMS Network (TMSN) new platform has a friendly interface that makes it easy for beginners to access and use it. Another initiative by TMS Network (TMSN) is utilizing trading fees for the development of the platform, and rewarding token holders. All TMS Network (TMSN) token holders will benefit from the commission revenue model as the platform scales. TMS Network (TMSN) token is available at $0.0047.
You can find out more about TMS below:
Whitepaper | Presale | Telegram | Twitter
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Crypto Market Goes Bearish: Top Analyst Calls it a Bullish Opportunity – Find Out Why!
Following a catastrophic year in 2022, Bitcoin and other significant cryptocurrencies exploded in January of 2023, rising to their greatest levels in months as U.S. inflation continued to decline. The crypto markets also experienced an impressive increase in February.
However, things are now not going as planned. The global crypto market cap is $1.09T and has slightly declined over the week. The market has witnessed a 2.19% decrease since yesterday and it continues to dip.
The situation is not entirely bleak though, some analysts say things are looking bright for the cryptocurrency industry, let’s explore.
A Bullish Prediction
In a recent tweet, Ran Neuner, a CNBC crypto trader and the founder of Crypto Banter, made some predictions regarding the US market. In light of the changes in the US stock market, he claimed that this market is particularly robust. Overall, he seems bullish.
The recent decline is seen by analysts and professionals as a routine correction rather than a reason for concern. A correction is typically characterized as a drop in a security’s price of 10% or more from its most recent peak. A correction can affect an asset, index, or market for a short while or for extended periods of time—days, weeks, months, or even longer. The typical market decline, however, only lasts three to four months on average.
A Pessimistic Outlook
However, not everyone is this bullish about the future of the crypto markets. The largest cryptocurrency’s price, according to Peter Schiff’s forecast, would once more go below the $18,000 mark. Schiff’s pessimistic forecast was made after the leading cryptocurrency reached its highest level in a number of months after reclaiming the $21,000 milestone once more.
Jim Cramer also has a pessimistic view of cryptocurrencies. He has urged investors to give up their “magic internet money” yet again.
Reasons To Worry
Let us observe the performance of the most prominent cryptocurrencies today. The Bitcoin (BTC) price is $24,197, Ethereum (ETH) is $1,644, Cardano (ADA) is at $0.38626900, Tether (USDT) is at $1.00, the Binance Coin (BNB) is at $308.07 and XRP token is at $0.39016735.
The NASDAQ Composite Index (COMP) is currently at 11,492 which has significantly reduced over the week. The Dow Jones Industrial Average is at 33,129 which is a dip of -3.26% over the week.
The crypto community sentiments seem to be positive overall. Many of them have agreed with Ran Neune. Some have said that the crypto market has barely started pumping so the future looks exciting.
XRP May Be Soon Supercharged To $1! This Level Can Spark A Potential Bullish Trend For XRP Price
The prolonged legal battle between the SEC and Ripple Labs seems to end soon with a victory for Ripple. As the final judgment is set to be in March, it creates fresh excitement in the XRP community to accumulate more tokens ahead of a massive pump.
XRP Investors Remain In The Light Of Bullish Hope
Ripple’s lawsuit continues to bring surprising moments in the crypto community as the firm could pay a fine to settle the allegations. In response to a user’s query about the possibility of a partial settlement and partial appeal that could potentially end up in the Supreme Court, John Deaton, the founder of CryptoLaw, shared his insights on the Ripple lawsuit’s settlement and appeal path.
According to Deaton’s opinion, Ripple could pay between $100-250 million to settle the lawsuit if the SEC publicly acknowledges that the sales of XRP, present and future, are not classified as securities.
However, Ripple may proceed legally as the firm has won four out of the last five cases and is now hoping for the final victory in its last case. Moreover, Ripple CEO Brad Gardlinghouse has assured investors that the firm would not pay a single penny, which sparked more confidence in XRP bulls.
Will XRP Break Its Bearish Consolidation?
Ripple’s willingness to battle the lawsuit against the SEC in court has convinced investors of an upcoming bullish scenario. Moreover, the expectations of XRP’s massive surge have also touched heights as SEC’s defeat will strengthen the crypto market.
As of writing, XRP price trades at $0.38 with a minor downward retracement. According to our analysis, XRP price is trading on the verge of a bullish rally as the RSI-14 indicator creates a bullish room near the EMA-200 trend line.
If XRP breaks above its triangle pattern at $0.4, it is poised to tend toward its 61.8% Fib level at $0.45, from which the token may reach its Bollinger band’s upper limit of $0.55. A continuous spike in trading volume and buyers’ interest in accumulating XRP may push the token beyond the bullish goal of $1 if Ripple secures the victory.
BLUR Token Overtakes OpenSea in NFT Marketplace – Bullish Rally Ahead?
In a stunning development in the world of non-fungible tokens (NFTs), a new player has come up to claim the title of the top NFT marketplace. Blur, a platform that specializes in digital art and collectibles, has surpassed OpenSea to become the leader in the rapidly growing NFT market.
Moreover, the growth of Blur has been described as overwhelming, as it has quickly become the fastest NFT marketplace. Hence, the BLUR token has sparked expectations of an upcoming bullish rally, which may change the map of investors’ portfolios.
Blur Makes Record In The NFT Space!
Blur has been making headlines in the NFT market with its record-breaking sales, shaking up the sentiment of NFT investors. DappRadar data shows that Blur has recorded a 361% surge in Ethereum NFT trades in the last seven days, amounting to a whopping $460 million. In contrast, OpenSea saw a modest 12% uptick in trading volume to reach $107 million during the same period.
According to CryptoSlam, the trading volume of Ethereum NFTs has surged by 155% week over week. This uptick in trading activity follows Blur’s airdrop of its BLUR governance token to NFT traders who earned rewards on the platform and through other exchanges before Blur’s launch last autumn.
Nevertheless, the surge in trading volume observed at Blur seems to be less motivated by traders selling off their BLUR tokens and purchasing high-value NFTs to hold but more so by whale traders who possess substantial NFT holdings and are now flipping NFTs at an even higher rate than before, intending to increase potential future token reward allocations.
What Is Waiting For Blur Token Next?
The Blur token has witnessed solid downward volatility due to the ongoing controversy over royalty fees. Despite the recent surge in trading volume and the overall growth of the platform, BLUR’s value has been relatively unstable due to OpenSea’s step to disincentivize royalties for all platforms.
As of writing, the BLUR token trades at $1.07, with a downtrend of over 12% in the last 24 years. Analyzing the price chart of BLUR is currently not feasible as it either lacks sufficient data on major exchanges or is not listed on them. However, the token has experienced a steep fall from $1.3, forming a crucial support near $1.
The RSI-14 and Stochastic RSI are trading near the start of a bullish region, hinting at an upward push which may soon begin a smooth uptrend for the BLUR token. The next 24 hours are crucial for validating an uptrend in the Blur price chart, as a gain in momentum below the 23.6% Fib level can pave the way to EMA-100 at $1.16. From this price level, a spike in long positions and trading volume can be witnessed with a target of $1.5 due to the overwhelming success of the platform.
Is Bitcoin Price Preparing For A Plunge To $20K Or A Bullish Trend Continuation? Here’s What BTC Traders Can Expect
As the crypto market entered the second month of 2023, investors witnessed noticeable volatility in the Bitcoin price chart. After an enjoyable bullish session in January, BTC price is now recording multiple higher highs and lows, creating turmoil among traders.
However, the critical factors affecting Bitcoin’s price are the regulatory steps and legal actions taken by the SEC and the worldwide decline in crypto adoption. However, Bitcoin seems to have ended its downtrend, as it has been hovering in bullish territory for the last few days.
Investors Bet Long On Bitcoin’s Volatility
Bitcoin’s market capitalization has surpassed that of payment processing giant Visa once again, as its price witnessed a 48% surge since January. Moreover, the strong battle between Visa and Bitcoin has surprised investors with its future potential to give tough competition to the traditional financial market.
According to on-chain analytic firm CryptoQuant, the 7-day MA of Bitcoin Puell Multiple has touched a 14-month high. In addition, the firm highlighted that the BTC price was trading approximately at $48,000 the last time Puell Multiple was at the current level. This metric calculates the ratio between the daily earnings made by Bitcoin miners and the 365-day moving average of their earnings.
When the value of the Puell Multiple trades is above 1, it indicates that miners are currently in profit and earning more than the yearly average. Conversely, if this metric reaches extremely high levels above the one mark, it is more likely for miners to sell as they tend toward booking profits.
Moreover, the firm clarified that when the indicator forms an ascending pattern above 1, it hints that miners are more comfortable with the current BTC price trend, and the probability of selling assets gradually decreases. Hence, it makes the Bitcoin price more stable with less volatility, developing a bullish scenario for investors.
Will Bitcoin Soon Break The $25K Level?
BTC’s price has sparked a glimmer of hope as it gained its momentum back and is heading toward the crucial resistance level of $25K. However, investors are worried whether Bitcoin will be able to successfully hold its trend above $25K or drop heavily.
As of writing, Bitcoin trades at $24,879, with a gain of nearly 1% in the last 24 hours. BTC recently made another effort to surpass the $25,000 resistance zone and gain momentum. Unfortunately, the attempt was unsuccessful as the digital asset was unable to hold above the $25,200 level and subsequently experienced a fresh decline.
Looking at the daily price chart, Bitcoin may initiate a downtrend soon after breaking the support at the $24K level. It is predicted that Bitcoin price may reach the buyer zone of $23.3K-$23.8K to spark a fresh increase to $25K. Moreover, the RSI-14 is trading on the boundary of an overbought region, weakening the bullish momentum of a trend continuation above $25K.
ADA Price Analysis: Cardano’s Growing Ecosystem Trigger Bullish Momentum! Analyst Marks Breakout Levels
Cardano has become the favorite network for investors as it is making headlines in the crypto market with its robust announcements. Moreover, its unique approach to fulfilling its development goals has garnered a lot of attention in recent months.
With the launch of the much-anticipated stablecoin DJED, Cardano is looking to challenge the dominance of Ethereum as the go-to platform for decentralized applications (dApps). Furthermore, as the Cardano ecosystem continues to grow, investors are getting increasingly excited about the future price trend of the ADA token.
Cardano Sends Bullish Waves To The Altcoin Market
With the launch of the Valentine upgrade and stablecoin DJED on the Cardano network, ADA price has gained massive support in making a potential breakout level. In addition, Cardano’s over-collateralized stablecoin, Djed, received an overwhelming response just one week after its launch. The stablecoin, which is based on the Cardano blockchain, has already gained over 30 million ADA tokens as backing, indicating strong investor confidence in the project.
The launch of Djed was a highly anticipated event, and it is the result of months of development by IOG, the Cardano code maintainer, and COTI, a fintech platform that specializes in creating price-stable coins. The stablecoin aims to provide a secure and reliable alternative to traditional cryptocurrencies known for their volatile nature.
The development team behind Djed stablecoin is planning to introduce several new features to the platform. One of the most promising developments is the upcoming release of “Djed Pay,” a payment system similar to Ada Pay but based on a stablecoin.
The introduction of Djed Pay is expected to increase the adoption rate of the stablecoin as it will allow users to transact easily. Cardano developers are also looking to establish a functionality that will allow traders to add more native assets to their portfolio, including wrapped Ether and wrapped BTC, which can be deposited into the Djed smart contract. This function will help to build up the collateral for the stablecoin, making it more stable and reliable.
What Lies Ahead For ADA Price?
ADA price has formed support near $0.39 after facing rejection at the EMA-200 trend line at $0.42. However, the buying volume is rising as buyers gain confidence from the recent developments in the Cardano network.
According to CoinMarketCap, ADA’s price trades at $0.4, with a downtrend of 1.27% from yesterday’s price. A well-known crypto trader, BitDoctor, predicts a smooth bull run for ADA token in the upcoming days if it breaks above the 23.6% Fib level. As the ADA price trend has formed a ‘head and shoulder’ pattern, it may soon pave its way to $0.75 if it breaks above the resistance of EMA-200 and holds its price near $0.43.
Conversely, a bearish reversal may emerge if ADA price trades below the weekly RSI level at $0.375, from which the token may pave its way to the bottom level of $0.31.
Cathie Wood Says She’s Bullish on Bitcoin (BTC), Tesla, Coinbase, and AI
As the interest rate hiking cycle of the United States Federal Reserve draws to a close, Cathie Wood, founder, and CEO of Ark Invest, is of the opinion that growth stocks and innovation-based strategies will recoup their previous losses and post new gains.
Tesla, Coinbase, and AI
Wood believes that growth stocks, in general, and innovation-based strategies, in particular, should make up for lost time now that the most severe interest rate hike in the history of the United States is nearing its conclusion.
Coinbase and Tesla have been frequent targets for investment by Wood’s Ark Invest, which most recently demonstrated its commitment to the former by purchasing 14,636 shares of Coinbase when the price fell below $58. She forecasts that the price of a share of Tesla would rise to $1,500 during the next five years, representing a 675 percent gain.
Ark Invest, which is well-known for its investments in technology equities, predicts that artificial intelligence will increase the productivity of knowledge workers by more than four times by the year 2030. Wood drew a parallel between artificial intelligence (AI) and an assembly line of knowledge workers, and he thinks AI will accelerate the digital revolution.
Bitcoin to hit $1M in 2030
In addition to her optimistic outlook on growth stocks and innovation-based initiatives, Wood reaffirmed her forecast that the price of bitcoin would reach one million dollars by the year 2030. Moreover, she is of the opinion that Bitcoin may serve as an insurance policy for nations that are battling inflation.
It is possible that Wood’s forecast that the price of bitcoin would reach one million dollars by the year 2030 could come true; nevertheless, it is far more probable that the price of BTC will reach one hundred thousand dollars by the end of 2023 or the beginning of 2024.
In spite of this, her prior forecasts on AI as well as the recovery of Tesla and Coinbase shares, have been accurate, which has established her as a renowned voice in the world of finance.