Dogecoin To $0.15: Analyst Explains What Could Kick Off A Fresh Rally

An analyst has explained how Dogecoin has been forming a Falling Wedge pattern recently, breaking which may kickstart a new bull rally. Dogecoin Has Been Moving Inside A Falling Wedge Recently In a new post on X, analyst Ali Martinez has discussed a pattern that has recently been forming in the 1-day price of Dogecoin. The pattern in question is the “Falling Wedge” from technical analysis (TA), which is a type of Wedge. A Wedge pattern appears when the price of the asset consolidates between two converging trendlines (that is, the lines have different slopes and are angled inwards). Depending on where this consolidation is headed, the pattern is termed as Falling or Rising. Related Reading: Why Has Bitcoin Been Bearish Lately? CryptoQuant Head Chimes In In a Falling Wedge, the upper line of the pattern connects lower highs in the price, while the bottom one connects lower lows. Similarly, a Rising Wedge has the upper line joining together higher highs and the lower one with higher lows. Just like other TA consolidation patterns, the upper line may continue to act as a source of resistance in the near future, while the lower one may provide support. Also, a break out of either of these trendlines can suggest a continuation of pattern in that direction. Wedges specifically are considered to be formations that lead to a reversal, so a break in the direction opposite to that of the Wedge may be considered to be more likely. Dogecoin has recently been showing a Wedge-like consolidation towards the downside in recent months, so the coin may be forming a Falling Wedge pattern. Below is the chart shared by Ali that showcases this formation. As is visible in the graph, the Dogecoin price has recently made an apparent retest of the bottom line of this Falling Wedge pattern and has found support at it. Thus, it’s possible that DOGE may now see a surge towards the upper trendline. Before the coin retests the upper line, though, there is perhaps another important level it has to surpass first: the 0.236 Fibonacci Retracement level. Fibonacci Retracement levels are based on ratios that are found in the famous Fibonacci series. These levels correspond to the percentage of drawdown as measured between two fixed levels. In the current case, Ali has taken the top of the Falling Wedge as the start of these levels (that is, the 100% or 1 mark). Related Reading: Bitcoin Momentum Indicators Are All Showing Death Cross: Say Hello To Bear Market? The analyst notes that if Dogecoin can manage a sustained close above the $0.10 level (that is, above the 0.236 Fibonacci Retracement), it may be able to start a rally toward the $0.15 level. From the current price of the memecoin, such a potential run would mean an increase of around 53%. It now remains to be seen how DOGE develops in the coming days and whether it would be able to follow any similar trajectory or not. DOGE Price Dogecoin had fallen under the $0.090 mark a couple of days back, but the asset appears to have rebounded as it has now recovered to $0.098. Featured image from Dall-E, charts from TradingView.com

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Paper Bitcoin On The Decline: What It Means For BTC

Data shows that the Paper Bitcoin inventory on exchanges has been on a decline recently. Here’s what it could imply for the cryptocurrency’s price. Bitcoin Inventory On Exchanges Has Seen A Drawdown Recently In a new post on X, analyst Willy Woo has discussed the latest trend in the Bitcoin inventory sitting on centralized exchanges. [...]

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SUI Ready To Test $2 Resistance Bullish Pattern Suggests New ATH Soon

SUI is currently testing crucial supply levels after an impressive 75% surge from local demand around $1 since mid-September. This aggressive price movement has placed the layer-1 blockchain at the forefront of market discussions, making it one of the most trending assets right now.  Related Reading: Dogecoin Could Target $0.20 Soon, Analyst Predicts Is DOGE Primed For A Rally? Traders and investors are showing increased interest in SUI, with many speculating that this rally could be the beginning of even bigger gains in the coming months. The buzz around SUI has been amplified by its strong price action, and bullish sentiment is growing. Analysts are closely watching the price action, with some predicting that SUI could target significantly higher levels, potentially challenging its all-time highs around $2.20 in the near future. Such a move would solidify SUI’s position as a top-performing asset in the crypto market and could attract even more capital as the market looks for the next big opportunity.  As SUI continues to gain traction, all eyes are on its ability to sustain this momentum and break through key resistance levels, setting the stage for a potential rally to new highs. With optimism building, SUI is one to watch as the market anticipates its next move. SUI Bullish Pattern Still Playing Out SUI has emerged as one of the top-performing assets over the past two weeks, fueled by optimism following the Federal Reserve’s interest rate cuts announcement. Analysts and investors are eagerly watching the altcoin, hoping that the recent surge isn’t just a bull trap but the beginning of a massive rally poised to explode. Renowned crypto trader and analyst, Kong Trading, recently shared his technical analysis on X, highlighting the potential for a significant SUI surge in the coming months. He noted that the inverted head and shoulders pattern formed in the past months is still playing out nicely and could be a powerful signal for further gains.  According to his analysis, the key level to watch is $2. If SUI manages to break past this resistance, it could trigger a wave of FOMO (fear of missing out) among traders, propelling the price to unprecedented heights. However, Kong Trading also cautioned that SUI’s bullish momentum depends heavily on broader market conditions and macroeconomic trends. While the current setup is promising, the asset remains vulnerable to sudden shifts in sentiment or adverse market developments.  Related Reading: XRP Struggles Below $0.60 Metrics Reveal Growing Selling Pressure As SUI approaches its all-time highs, the coming weeks will be crucial in determining whether it can sustain its upward trajectory or if it will face a potential pullback. For now, all eyes are on SUI as it navigates these critical price levels, with traders hoping to see a breakout that could redefine its market position. Key Levels To Watch SUI is currently trading at $1.67 after an impressive 140% rally from its early September lows of $0.75. This significant price movement has brought SUI to a crucial supply zone, where the price could face resistance and potentially enter a consolidation phase. Analysts and traders are closely watching this level, as breaking above it could set the stage for further gains. If SUI manages to break past the $1.82 resistance, it would open the door for a rally toward its all-time high of $2.18. This level will be a major target for bulls, as reclaiming it could signal the continuation of a broader uptrend and attract more buyers into the market. However, a failure to break above $1.80 could see the price retracing to lower demand levels around $1.45, which served as a key resistance back in April. Related Reading: Solana (SOL) Consolidates in Symmetrical Triangle Analyst Reveals $160 Target On Breakout This $1.45 zone is now expected to act as strong support, offering a potential buy opportunity for traders looking to enter the market at a lower price. For now, SUI remains in a critical zone, and its next move will likely determine whether the current rally can extend toward new highs or if a consolidation phase is ahead. Featured image from Dall-E, chart from TradingView

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Former BitMEX CEO Arthur Hayes Backs Memecoin PEPE With $250,000 Bet

Arthur Hayes, co-founder and former CEO of the cryptocurrency trading platform BitMEX, has recently made headlines with significant investments in the memecoin sector, particularly through his notable purchase of Pepe (PEPE).  Hayes optimism towards memecoins, expressed in a recent social media post on X (formerly Twitter), has coincided with a significant surge in PEPE’s value, reflecting a broader resurgence in interest within the crypto market. PEPE Price Soars Following Hayes Investment On-chain analytics platform Lookonchain revealed that Hayes invested $250,000 in PEPE by purchasing approximately 24.39 billion tokens on Binance on Friday. This investment comes as PEPE is experiencing a notable upward trajectory, reaching its highest price in nearly three months at $0.0000109.  CoinGecko data shows that the token has recorded impressive gains of 34%, 45%, and 38% over the past week, two weeks, and month, respectively. The recent price movements of PEPE are further supported by a substantial increase in trading volume, which surged by 41% in the last 48 hours to nearly $2.5 billion. Related Reading: DogWifHat Whale Doubling Down, Buys More WIF: All-Time High Incoming? This uptick in trading activity is indicative of heightened investor interest, likely fueled by a bullish sentiment following the US Federal Reserve’s decision to cut interest rates on September 18, which has provided a favorable environment for various cryptocurrencies, including the memecoin sector. Currently trading at $0.0000107, PEPE is up 17% in the latest trading hours. However, it remains down 37% from its all-time high of $0.0000171 reached in May. Despite this decline, Hayes’s endorsement appears to be a catalyst for continued investor interest. Support For Mog Coin And The Mother Iggy Token Hayes’s involvement in the memecoin space extends beyond PEPE. He has also shown support for two other tokens: Mog Coin (MOG) and the Mother Iggy (MOTHER) token, associated with Australian singer Iggy Azalea and built on the Solana blockchain.  While Lookonchain has not confirmed whether Hayes invested in these tokens as he did with PEPE, his endorsement has already positively impacted MOG’s price, which is currently trading at $0.00000165a gain of over 10% following Hayes’s announcement. MOG has recorded a colossal year-to-date surge of 10,398%, alongside a 5.70% increase in trading volume. Despite these gains, it remains 32% below its peak of $0.0000024 reached in July. Related Reading: Altcoin Market Cap Surges Past 200-Day EMA: Is Altseason Finally Here? Conversely, the MOTHER token has struggled to maintain momentum, trading down nearly 14% in the past 24 hours. However, it has seen substantial gains of 75% over the last week and 176% in the past two weeks, signaling that it remains an asset of interest despite recent volatility. Overall, Haye’s support for the memecoin sector shows the traction that this part of the market has gained over the past year in particular, outperforming the largest cryptocurrencies on the market by a clear margin. Featured image from DALL-E, chart from TradingView.com

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Analysts Think Solana Could Go Nuts As SOL Price Retests $160 Resistance

Solana (SOL) broke above a key resistance level on Friday, fueling the bullish sentiment that reignited over a week ago. As a result, some analysts think the fifth-largest cryptocurrency by market capitalization could be about to see a massive bull run as Uptober approaches. Related Reading: Ethereum: Analyst Sets $2,820 As ETHs Next Key Level to Watch, Heres Why Solana Retests $160 Resistance Solanas rally started last week following the market surge driven by the US Federal Reserves rate cuts. The jump pushed the cryptocurrencys price above the $140 resistance level, successfully turning it into support. SOL had failed to break above this key level throughout the past month, consolidating between the $130-$139 price range. This performance alarmed many investors and market watchers, who considered the cryptocurrency was in danger of facing a massive correction. Since the bullish catalyst, Solana has seen a 23% surge, breaking above the $150 barrier this week. Some analysts asserted that reclaiming this mark would propel the price toward the next key resistance level. On Friday, Solana broke above the crucial resistance level for the first time in a month, hitting $160 for the first time since late August. As of this writing, SOL reached a daily high of $160.68, momentarily holding the above the key level. This performance was seemingly fueled by the bullish vibes surrounding the early release from prison of Binances founder Changpeng Zhao (CZ). The expectation of his release further inspired a bullish market sentiment among investors, driving SOLs 4% jump in an hour and Bitcoins price to $66,000. Is SOL Price About To “Go Insane”? Analyst Crypto Horn Harris noted Solanas price action on the weekly chart, claiming it looks nothing short of insane right now. He underscored that SOL retested the Relative Strength Index (RSI) properly while doing a perfect reset of the 50-day Moving Average (MA). To the analyst, this performance hints that the cryptocurrency will challenge the cycles high above $200 and move to higher targets soon. WiseAnalyze claimed that SOLs price is still very low, suggesting that investors still can jump on that trend. The trader set his target for the cycles final breakout at $400, but it might grow higher. However, he didnt rule out the possibility of another rejection, with a pullback to the $108-$120 support zones. Similarly, Matthew Dixon also forecasted a retrace for Solana. The analyst believes a pullback is due, as multiple indicators suggest the correction. However, the jury is out on the scope of the decline. Dixon stated that SOLs price targets will depend on whether the price action from the low is in the form ABC Or 123. But either way, the retrace is likely. Related Reading: Memecoin Sensation Popcat Hits New All-Time High After Surge To $1 Crypto analyst Byzantine General considers SOLs chart to look pretty crazy. The trader highlighted that Solana appears to be printing an Adam and Eve (A&E) double-bottom pattern, with the confirmation line around the $160 price range. Based on this, Solanas price could go really nuts, as it has the potential for a breakout toward the $200 resistance level if it successfully reclaims the key support level. Featured Image from Unsplash.com, Chart from TradingView.com

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Analyst Backs Bitcoin Hitting $290,000 In Bull Run Heres Why

In what has been an unusual September, Bitcoin (BTC) has now recorded another positive weekly performance.  According to data from CoinMarketCap, the maiden cryptocurrency surged by 5.07% in the last seven days, moving its cumulative gain in this month to 11.30%. Interestingly, with Bitcoin halving since gone, analysts remain highly expectant of the traditional market bull run by the largest digital asset. Related Reading: Heres Who Has Been Driving The Bitcoin Price Recovery Above $65,000 BTC In Consolidation As It Gathers Momentum For Breakout In an X post on Friday, popular analyst Crypto Rover predicted BTC will hit a $290,000 price mark in the upcoming bull run. Interestingly, this price projection tallies with previous statements from analysts who put a six-figure price target for BTC following the introduction of the Bitcoin spot ETFs which represents an increased institutional demand for the crypto market leader. Notably, BTC has been moving between $55,000 – $70,000 over the last seven months which represents a state of consolidation.  According to Crypto Rover,  following a breakout from this current sideways movement, Bitcoin is likely to enter the banana zone i.e. the phase of outrageous price growth, as seen in previous bull cycles.     The crypto analyst predicts that during this period which traditionally lasts for 12-18 months, BTC could trade as high as $290,000 representing a 339.39% gain on the assets current price. For many crypto enthusiasts, it is likely that the much-anticipated breakout will occur in the fast-approaching weeks as Bitcoin has now formed an inverse head and shoulders pattern as highlighted by Crypto Rover in another post. To explain, the inverse head and shoulders pattern is a common bullish indicator of potential reversals of a downtrend. If the price breaks above the neckline with significant volume, it indicates a shift to bullish control. These sentiments on a price breakout are further strengthened by the upcoming Q4 which has proven to be the most bullish period for Bitcoin with an average gain of 88% over the last 11 years.   Related Reading: MicroStrategys Bitcoin Bet Pays Off In Multiple Ways As Stock Surges 317% Bitcoin Exchange Stablecoins Ratio Shows Bullish Signal In more positive news for the Bitcoin community, the Bitcoin Exchange Stablecoin Ratio is currently indicating a buy signal. According to CryptoQuant analyst with username EgyHash, this metric which measures BTC reserves (in USD) to the combined stablecoin reserves on exchange is currently at the low levels seen at the start of 2024. EgyHash explains that a low ratio indicates traders have an increased buying power due to high stablecoin holdings which could translate into investments in Bitcoin, thus resulting in a price gain. Therefore, the current low Bitcoin Exchange Ratio adds to the list of bullish signals for Bitcoin investors. At the time of writing, the premier cryptocurrency continues to trade at $66,064 with a 1.14% gain in the last day. Meanwhile, Bitcoins daily trading volume is down by 12.92% and valued at $32.01 billion.  Featured image from Cwallet, chart from Tradingview

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Notcoin Set For More Gains Following 13% Price Rally Details

Telegram-based cryptocurrency Notcoin has attracted investors interest in the last 24 hours with impressive price performance. According to data from CoinMarketCap, Notcoin notched a 12.75% profit on Friday to emerge as the markets top gainer. While the assets momentum appeared to have cooled following a price correction in the last few hours, certain trading indicators encourage investors to retain a bullish sentiment. Related Reading: Crypto Analyst Says Telegram-Based Notcoin Is Ready To Fly, Heres How High Notcoin To Hit $0.014 If Buying Pressure Persists: Analyst In an X post on Friday, popular crypto analyst Ali Martinez shared a bullish prediction on Notcoin. According to Martinez, the SuperTrend indicator on the NOTs daily chart has shown a buy signal following the tokens most recent ascent out of a falling wedge. The SuperTrend indicator just flashed a buy signal on the #Notcoin daily chart as $NOT breaks out of a falling wedge! Increased buying pressure could potentially push #NOT toward $0.012 to $0.014. pic.twitter.com/fJfWMDXCvV Ali (@ali_charts) September 27, 2024 Generally,  the SuperTrend is a simple technical indicator used to predict the potential direction of an assets price. A buy signal occurs when the price moves above the SuperTrendine suggesting the asset would likely maintain its upward trajectory.  According to Martinez, if investors are influenced by the SuperTrend indicator, thus increasing capital influx into Notcoin market, the token could likely surge trade as high as $0.012 – $0.014 representing a potential 41.41% gain on its present market value. In the presence of an overwhelming bullish pressure, NOT could rise to around $0.020 reaching price levels last seen in early August. Alternatively, if a price fall were to occur perhaps due to news events or macroeconomic factors, the telegram-based asset will likely find support around $0.0069.   Related Reading: Notcoin (NOT) Ignites Crypto Market, Analyst Predicts 25% Rally NOT Price Overview  Notcoin emerged as a play-to-earn token on the messaging platform Telegram, allowing people to earn by tapping a virtual coin and participating in game tasks.  Following its official launch in May,  Notcoin drew much attention, rising by over 380% to hit an all-time price of $0.029. However, the tokens value gradually declined in the following weeks and has since failed to return to such heights.  Nevertheless, NOT has quickly grown into a major digital asset, earning a spot in the top 100 cryptocurrencies with a market cap of $1 billion. At the time of writing, Notcoins price hovers around $0.0098 following a correction from the peak price of $0.0105 on Friday. The cryptocurrency boasts significant gains of 31.66% and 8.08% in the past seven and thirty days respectively.  Meanwhile, NOTs trading volume is up by a stunning 145.17% and valued at $374.18 million.   Featured image from Techopedia, chart from Tradingview

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Shiba Inu Rallies 34%, But Will FOMO End The Rally?

Data shows metrics related to Shiba Inu have seen rapid growth alongside the meme coin’s 34% surge, a potential sign that FOMO is developing among investors. Shiba Inu Has Seen An Uptick In Activity With Its Latest Rally In a new post on X, the analytics firm Santiment has discussed how the various indicators related [...]

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Dogecoin Could Target $0.20 Soon, Analyst Predicts Is DOGE Primed For A Rally?

Dogecoin is trading above $0.12 after a 20% pump over the past two days, reigniting investor enthusiasm. The meme coin had been struggling to break past the $0.11 mark, leaving investors frustrated as other cryptocurrencies surged.  The recent breakout has lifted sentiment, with Dogecoin now eyeing higher targets. Analysts believe that this momentum could lead to further gains as DOGE successfully clears key resistance levels. Related Reading: XRP Struggles Below $0.60 Metrics Reveal Growing Selling Pressure One prominent analyst has even set a bullish target of $0.20 in the coming weeks, suggesting that Dogecoin could see another significant rally if the broader market remains strong.  The recent breakout could signal the beginning of a more extended uptrend, especially if DOGE can maintain support above $0.12 and continue attracting buying interest. Investors will be keeping a close eye on how Dogecoin performs in the days ahead. Dogecoin Price Rising Fast  Dogecoin is now testing crucial supply levels around $0.125, a price point not seen since late July. As the entire crypto market surged, sentiment shifted rapidly from fear to hope. Investors are now eyeing Dogecoin with renewed optimism, anticipating further gains in the coming weeks. Prominent analyst TraderNJ recently shared a detailed technical analysis on X, highlighting key resistance levels for DOGE at $0.149, $0.178, and $0.208. TraderNJ expressed strong confidence in the meme coins performance, predicting that Dogecoin could hit the $0.20 mark in no time at all. This bullish outlook reflects the high expectations surrounding Dogecoin, as historical patterns show that when meme coins start to rally, they often experience rapid price acceleration. Dogecoins current price action suggests that a breakthrough past $0.125 could open the door for significant upward momentum. The crypto market has shown resilience and a tendency to surprise skeptics, and Dogecoin is no exception. If DOGE manages to break above its immediate resistance levels, it could potentially trigger a fast-paced rally, similar to its historical price movements. Related Reading: Cardano (ADA) Eyes 20% Price Surge Funding Rate Suggests Increasing Demand Traders and investors are closely monitoring Dogecoins performance as it tests these crucial levels. A sustained push above $0.125 would be a positive signal, reinforcing the bullish sentiment and potentially attracting more buying interest. However, the meme coins notorious volatility means that sharp fluctuations could accompany any breakout. As optimism builds, the next few weeks will be critical for determining whether Dogecoin can maintain its momentum and achieve the price targets set by analysts like TraderNJ. DOGE Price Action: Key Levels To Watch Dogecoin (DOGE) is currently trading at $0.124 after two days of impressive gains and renewed market excitement. The meme coin recently closed above the daily 200 exponential moving average (EMA) at $0.117, a critical indicator that it had not surpassed since late July. Reclaiming this level suggests a potential shift in momentum, indicating long-term strength and a more positive outlook for the weeks ahead. However, sustaining this upward trend will require DOGE to maintain its position above the 1D 200 EMA and continue to challenge higher supply levels around $0.14. If the price manages to break through this resistance, it could pave the way for further gains and solidify its bullish trend. Related Reading: Crypto Analyst Predicts Dogecoin Will Surge 1,000% Past ATH Price Targets Revealed On the flip side, if Dogecoin fails to hold above the 1D 200 EMA, the bullish scenario could quickly reverse. A retracement to lower demand levels around $0.105 would then be expected, potentially signaling a pause in the recent rally. Investors are watching closely to see if Dogecoin can maintain its momentum or if it will face another pullback, as it has in previous months. The next few days will be crucial for determining the meme coin’s short-term direction. Featured image from Dall-E, chart from TradingView

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Render (RENDER) Shows 23% Surge As Sharks & Whales Continue To Buy

Render has shown a sharp jump of more than 23% during the last week as on-chain data shows the large hands have continued to buy. Render Has Enjoyed Bullish Momentum Over The Past Week The cryptocurrency sector as a whole has witnessed an uplift recently, but Render has been among the altcoins that have really stood out from the rest. Whereas Bitcoin (BTC) and Ethereum (ETH) have only seen weekly profits of around 3% and 9%, respectively, RENDER has shown an impressive 23% jump. Related Reading: Dogecoin Wins Over Major Demand Zone: Path To $0.15 Now Clear? The below chart shows how the recent performance of the asset has been like. Following this sharp growth, Render’s price has now neared the $6.5 mark for the first time in four weeks. In terms of the market cap, the asset has seen its valuation touch $3.3 billion, placing it at the 29th place on the top cryptocurrencies list. The coin is now chasing Pepe (PEPE), which is the 28th largest asset in the sector with a market cap of around $3.9 billion. Though, considering the 18% difference in their valuations, it wouldn’t be an easy task for RENDER, especially since PEPE generally shows a notable rise of its own when the market goes up. As for what could be behind the latest growth that the cryptocurrency has enjoyed, perhaps on-chain data can provide some hints. Sharks & Whales Have Been Busy Buying The Token Recently According to data from the on-chain analytics firm Santiment, the Render sharks and whales have participated in some considerable accumulation during the last eleven weeks. The indicator of relevance here is the “Supply Distribution,” which tells us about the amount of supply that a given wallet group on the network is holding right now. In the context of the current topic, the cohort containing addresses who own at least 100,000 tokens is of interest. At the current price of the coin, this cutoff is equivalent to just under $650,000, which is a significant amount. As such, this group corresponds to the large hands of the market, popularly known as the sharks and whales. Below is the chart shared by the analytics firm, which shows how the Supply Distribution for these investors carrying 100,000+ coins has changed over the last few months: From the graph, it’s apparent that the supply held by the Render sharks and whales has witnessed a considerable increase over the last eleven or so weeks. More specifically, these investors have added 20.54 million tokens to their wallets, equivalent to 3.7% of the total supply. Related Reading: Bitcoin Correlation With Gold Now At Highest Level Since March The buying spree from this cohort has continued during the latest price surge and thus, could be at least a factor behind why it has taken place. Featured image from Dall-E, Santiment.net, CoinMarketCap.com, chart from TradingView.com

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Shiba Inu Breakout Eyes $0.00002631 Level After Rallying Over 19%

Shiba Inu is experiencing a notable price breakout, surging over 19% and positioning itself toward the critical resistance level of $0.00002631. This significant rally indicates a shift in market momentum, characterized by robust buying pressure and increased trading volume. Technical indicators suggest that SHIB is establishing a bullish trend, with key support levels solidifying its [...]

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Ethereum: Analyst Sets $2,820 As ETHs Next Key Level to Watch, Heres Why

Following the markets recent pump, the leading cryptocurrencies have seen a remarkable performance. Bitcoin is trading above the $64,000 mark, while Ethereum (ETH) has surged 9% in the last week to consolidate above a key support level. Despite the bullish sentiment, some crypto investors remain cautious about ETHs performance as the second-largest cryptocurrency faces the next crucial resistance level. Related Reading: Memecoin Sensation Popcat Hits New All-Time High After Surge To $1 Ethereum Consolidates Above $2,600 Ethereum recorded a 13% price jump in the last seven days after the US Federal Reserve (Fed) announced its decision to cut the interest rate by 50 basis points (bps). The bullish momentum propelled the ETHs price to ranges not seen in a month, triggering a positive sentiment among many investors. Over the weekend, the King of Altcoins surged from the $2,300 support zone to the $2,500 mark before reclaiming the $2,600 resistance level as the week started. Since then, the cryptocurrency has hovered between the $2,600-$2,684 price range, momentarily dropping below the key support level on Wednesday afternoon. Nonetheless, Ethereum has faced resistance today after recovering from the recent drop to $2,500. Market analyst Crypto Yapper noted that ETH had been running into critical resistance on the Daily chart, as it had been unable to break successfully above the $2,650 mark since Tuesday. This performance worried some investors, who considered that not breaking above this level could hinder the cryptocurrencys run and send the price toward the previous support zones. However, Ethereums price jumped 1% in the last hour to trade above $2,650. As of this writing, ETH exchnges hands at $2,660, recording a 2.1% and 9.3% price increase in the daily and weekly timeframes. ETH To Reach New Highs In October? Crypto Trader Daan highlighted that Ethereums price made a higher low (HL) but has not been able to make a higher high (HH) yet. The trader noted that an HH would occur above the $2,820 mark, which was lost over a month ago, and it would signify a trend reversal for the cryptocurrency. This level corresponds with the horizontal level that kickstarted the February-March run to $4,090 after the breakout. Additionally, it coincides with the Daily 200 Exponential Moving Average (EMA) around that area, which makes it an important level to watch. A breakout above this mark could further propel ETHs price toward the $3,000 resistance level. Julien Bittel, Head of Macro Research at Global Macro Investor (GMI), noted that Ethereums chart is looking a lot like a 2023 redux. Related Reading: Cardano (ADA) Reclaims Top 10 Crypto Spot, Analysts Set New Targets Per the Chart, the cryptocurrencys current market structure resembles its 2023 movements very closely. A repeat of ETHs previous bullish trajectory suggests that ETHs price is about to break out and hit a new all-time high (ATH) mid to late October. Additionally, the chart shows that if it follows the same bullish trend, Ethereums price has the potential to reach somewhere between the $10,000 to $20,000 targets by Q1 2025, which would represent a 669% surge from its current price and a 300% jump from its ATH. Featured Image from Unsplash.com, Chart from TradingView.com

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WIF Bulls Push Hard Toward $2.1 Resistance Amid Market Optimism

Dogwifhat (WIF) is on the verge of a major breakout, with bulls targeting the $2.1 level as upward momentum continues to build. After a strong period of gains, all eyes are on whether this momentum can trigger the price past this critical resistance. A successful push could ignite a broader rally, further solidifying WIFs bullish outlook. As the market heats up, this article seeks to analyze WIF’s price action as it approaches the critical $2.1 resistance level, focusing on the bullish strength that has driven recent gains. By examining technical indicators, market sentiment, and potential key levels, the goal is to assess whether the bulls can sustain their push and trigger a breakout, or if bearish pressure may halt the rally. WIF, with a market capitalization surpassing $2.1 billion and a trading volume of over $528 million, was trading at around $2, indicating an 8.15% increase at the time of writing. In the last 24 hours, its market cap rose by 8.14%, while trading volume saw a decrease of 27.81%. Bulls Push Gains Steam: Can WIF Surpass The $2.1 Barrier? Following the recent trendline break, WIF’s price on the 4-hour chart has continued to gain momentum as it reaches $2.1, with the purpose of breaking past it. WIF is also trading above the 100-day Simple Moving Average (SMA), suggesting a positive upward trend that could lead to a potential breakout. An analysis of the 4-hour Relative Strength Index (RSI) suggests a potential for further upward movement. The RSI has risen again to the 70% threshold after previously dropping to 63%, indicating that positive movement is gaining strength. Related Reading: Dogwifhat On The Edge: Can WIF Hold Above $1.47 As Bears Close In? On the daily chart, WIF shows strong upside movement, reflected in multiple bullish candlesticks following a successful move above the 100-day SMA. This rising strength suggests that bulls are actively in control and may push the cryptocurrency higher, aiming to surpass the $2.1 mark. Finally, on the 1-day chart, a detailed examination of the RSI formation indicates that WIF may maintain its optimistic trajectory as the indicator’s signal line has risen above the 50% threshold and is currently positioned at 70%, displaying a sustained bullish outlook. How High Can The Meme Coin Go Post-Breakout If the upbeat momentum continues and WIF successfully breaks through the $2.1 resistance level, it could target the next resistance level at $3.5. A decisive move above this level might pave the way for additional gains, possibly reaching its all-time high of $4.8 and beyond. Related Reading: Dogwifhat Price Up 15%, Analyst Predicts it Will 25x in 2024 Conversely, if the breakout leads to profit-taking or bearish sentiment, WIF may retrace to the previous support level of $1.47. When this level is breached, it could result in deeper declines, potentially dropping toward $0.7122 and other lower ranges. Featured image from Medium, chart from Tradingview.com

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Solana (SOL) Consolidates in Symmetrical Triangle Analyst Reveals $160 Target On Breakout

Solana (SOL) is now trading at a critical juncture following last weeks market surge. The token has climbed over 20% from its recent local lows, now testing a crucial supply level around $150.  Related Reading: XRP $0.60 Triangle Breakout Could Ignite Parabolic Rally Key Levels To Watch This resistance zone has drawn the attention of analysts and investors, with many believing Solana is on the verge of a rally to higher price levels. Among those who are bullish on SOL is prominent analyst Carl Runefelt, who recently shared a detailed analysis, predicting that Solana could reach new highs within days if the current momentum continues. As the broader market continues to gain strength, investors are eagerly awaiting Solanas next move. A successful breakout above $150 could signal a confirmed uptrend, paving the way for a potential rally. However, the coming days will be pivotal for SOL as it approaches this key level, with the market closely watching whether it will reclaim higher ground or face renewed resistance. Solana Bullish Pattern About To Break  Solana (SOL) is currently testing crucial supply levels that could pave the way for a significant rally to higher prices. After days of consolidation, the altcoin looks ready to break out and confirm a daily uptrend. Many analysts and investors are closely watching for the next move. This potential shift comes as the entire crypto market has turned from fear to optimism, spurred by the Federal Reserve’s recent decision to cut interest rates, which has breathed new life into the market. Analyst Carl Runefelt, one of the prominent voices in the crypto space, has shared his technical analysis on X, revealing that Solana has formed a symmetrical pattern. According to Runefelt, if SOL breaks out of this pattern, it could trigger a substantial upward move, with price targets around $160. The symmetrical triangle, a key technical formation, typically signals a strong price movement after a prolonged period of consolidation. Related Reading: Crypto Analyst Predicts Dogecoin Will Surge 1,000% Past ATH Price Targets Revealed As Solana hovers near this critical level, the market eagerly awaits confirmation of a breakout. Investors expect a move above $150, confirming the uptrend and likely leading to higher price levels in the coming weeks. For now, all eyes remain on Solanas ability to break through this resistance and potentially rally to new heights. SOL Technical Analysis: Price Levels To Watch Solana (SOL) is currently trading at $150 after testing the daily 200 moving average (MA) at $154 as resistance. This key technical level has kept the price in check, and SOL is now entering a consolidation phase. Investors are optimistic, and rising demand could soon trigger a breakout from this consolidation. To keep momentum, SOL must reclaim the 1D 200 MA and target new highs beyond $164. This price has worked as a crucial resistance; if broken, it would confirm the continuation of a daily uptrend. A successful breakout at this level could push SOL toward even higher prices, potentially setting the stage for a run to challenge its all-time highs. Related Reading: SUI Price Sits 40% Below All-Time High As TVL Approaches $1 Billion However, failure to break above the daily 200 MA could signal a shift in sentiment. In this case, SOL could retrace to key support levels, with potential targets around $140 or even lower. This would indicate a short-term correction before another attempt at reclaiming higher price levels. Investors are closely watching SOLs next moves to determine the coin’s near-term direction. Featured image from Dall-E, chart from TradingView

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Cardano (ADA) Reclaims Top 10 Crypto Spot, Analysts Set New Targets

Cardano (ADA) has seen a remarkable performance over the week, surging over 10% and reentering the top ten cryptocurrencies by market capitalization list. Its recent price action has fueled a bullish sentiment among investors and market watchers, who believe the token might be near a rally toward $1. Related Reading: BNB Falters At $600, Paving The Way For A Deeper Pullback Cardano Breaks Out To Reclaim Top 10 Spot Cardanos price has steadily declined after the March highs, registering a 42% drop in the last six months. During the Q1 rally, the token hit its highest price since 2022, reaching the $0.774 price range. Since then, ADA has nosedived to pre-rally levels, disappointing some investors and market watchers. The crypto community has repeatedly slammed the project for a lack of appeal to the broader public. Additionally, many have criticized ADAs underwhelming price action. However, the tokens recent rally has sparked a bullish sentiment among some community members. Despite the early September market shakeouts, the cryptocurrency has registered a 10% surge from its monthly opening, seeing green numbers in the weekly and biweekly timeframes. Technical analyst Crypto Yapper noted Cardanos recent performance. The analyst highlighted that ADA displayed a multi-month descending broadening wedge structure on its chart with multiple touch points on the top side and on the lower side. Inside this structure, the cryptocurrency displayed a smaller falling wedge pattern with its upper trendline being tested again on Monday. The analyst stated that the $0.35 was the first crucial resistance level for the token. Claiming this key zone and breaking out of the falling wedge pattern could create more bullish action and move the price toward the upper line of the bigger bullish structure. On Monday, Cardanos token reclaimed the $0.36 range, a level not seen in nearly a month. The surge sent ADAs price toward the $0.37 resistance level, turning the $0.375 price range into a support zone on Tuesday morning. The recent performance also pushed Cardano back to the top ten cryptocurrencies list after ADAs market capitalization surged 6%, surpassing Tron (TRX) in the last 24 hours. Analysts See New Price Targets For ADA Today, Crypto Yapper noted that ADA broke above resistance as the cryptocurrency was creating a higher high on the daily chart. This performance indicates a huge trend reversal for Cardano. However, he pointed out that to break above the descending broadening wedge, the token must reclaim its second key resistance level at $0.39. If successful, the breakout could target the structures higher price range of $0.52. Related Reading: Bitcoin (BTC) On Track For Strongest September Performance, Is $90,000 Next? Other analysts also highlighted ADAs performance and breakout, suggesting that the cryptocurrency has the potential for a 170% surge. Dan Gambardello pointed out, “Cardano just went through a phenomenal throwback to a colossal triangle pattern. To the analyst, If crypto is about to enter a green October, I anticipate ADA will reclaim $1 with haste. ADA is trading at $0.378, a 6.2% and 12.2% surge in the daily and weekly timeframes. Featured Image from Unsplash.com, Chart from TradingView.com

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Bitcoin (BTC) On Track For Strongest September Performance, Is $90,000 Next?

Bitcoin (BTC), the largest cryptocurrency by market capitalization, has led the market recovery with its surge to the $63,000 mark. Following the recent developments, the flagship cryptocurrencys performance has seen an 8% weekly surge, driving BTC to one of its best September performances since its creation. Related Reading: Polygon (MATIC) To Come back From The Dead As Ascending Triangle Appears Bitcoin Registers Sixth Green Daily Candle During the first week of the month, Bitcoin saw its price struggle to keep above the $55,000 mark, plummeting to the $52,000 support zone and raising investors alarms. The rest of the sector followed BTCs lead, dropping 12% to a market capitalization of $1.81 trillion earlier this month. Since then, the market has seen a significant boost, mostly fueled by the US Federal Reserves (Fed) rate cut. Following the Feds announcement, the sector recovered 5%, continuing its ascending trajectory throughout the weekend. Due to the positive market sentiment, crypto investment products ended the week with $321 million in inflows, the second weekly positive net flows in a row. The inflows were led by Bitcoin-based products, which registered $284 million last week, according to the CoinShares report. BTC, propelled also by Kamala Harris recent acknowledgment of the crypto industry, recovered 20% from the monthly lows of September 6. The rebound pushed the cryptocurrencys price toward the $64,000 resistance level, which was last held a month ago. After failing to reclaim the key resistance level, Bitcoins price has been hovering between the $63,000-$63,900 range throughout Monday morning, registering six green daily candles since September 17. Will BTC See Four Green Months In A Row? BTCs recent price action has translated into green numbers in the month-to-date (MTD) timeframe, making September a green month for the cryptocurrency. Coinglass data reveals that the flagship crypto displays a 7.94% return MTD. This performance was noted by some market watchers, who suggest that Bitcoin is on its way to registering its best September so far. In an X post, Crypto Jelle highlighted that BTC is currently on track for the strongest September performance in its history after its current MTD return surpassed that of September 2016. To the analyst, the flagship cryptocurrency is preparing for a promising performance next quarter. Jelle also pointed out that BTC has only closed September with green numbers three times. However, the times this has happened, the cryptocurrencys monthly returns have closed in the green for four months straight. This suggests that Bitcoin may be on the verge of a massive bull run for Q4. Close this month in the green, and the odds are high October, November and December will close green as well. He pointed out that this week will be decision time for the flagship cryptocurrency, as a higher high is within an arms reach. A push above the $65,000 resistance level would flip the narrative and see BTC moving to levels not seen since early August. Related Reading: Bitcoin Could Reach $108,000 To $155,000 By 2024 End, Analyst Reveals Why The cryptocurrencys chart displays a massive descending broadening wedge, which has the potential to hit $90,000 after a breakout. Ultimately, the analyst considers that Bitcoin wont trade within this pattern for much longer. As of this writing, the flagship trades at $63,700, a 1.7% and 10% surge in the daily and weekly timeframes. Featured Image from Unsplash.com, Chart from TradingView.com

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XRP $0.60 Triangle Breakout Could Ignite Parabolic Rally Key Levels To Watch

XRP trades at a pivotal moment after several days of volatile price action, sparking renewed optimism among investors. Some analysts believe that XRP is on the verge of breaking out from a massive 4-year bullish triangle pattern, which has served as an extended accumulation period.  Related Reading: Bitcoin Indicator Signals Shift To Bullish Territory Can BTC Break Past $65,000? This technical formation has been steadily building up, and now XRP appears poised for a significant expansion phase. Following years of underperformance caused by the ongoing SEC lawsuit and broader economic uncertainty, the market is watching closely for a potential breakout. If XRP breaks through its current resistance levels, many expect a parabolic rally, potentially leading to new highs. Investors eagerly await confirmation of this move, viewing it as a crucial moment in XRP’s long-term market trajectory. As momentum builds, XRP’s next moves could define its performance in the coming months and its role in the broader crypto market.  XRP Price Action Suggests A Bullish Breakout  The entire crypto market has experienced a surge, with Bitcoin and many altcoins seeing double-digit percentage increases in price. This rally follows the Federal Reserve’s recent decision to cut interest rates by 50 bps, sparking optimism among investors who believe a new crypto bull run is on the horizon. XRP investors also feel optimistic, as analysts share promising insights suggesting positive performance in this cycle. Related Reading: Ripple Whales Accumulate Over 380 Million XRP in Just 10 Days: Is A Breakout Near? One prominent crypto analyst, Carl Runfelt, shared his technical analysis on X, highlighting the bullish triangle pattern that XRP has been forming since 2020. According to Runfelt, XRP could see explosive growth during this bull cycle, potentially going parabolic and rising by over 200% within weeks if the pattern breaks. The key level to watch is $0.60, which has acted as significant resistance in recent weeks. If XRP breaks above this critical price point, it could trigger a wave of “fear of missing out” (FOMO), driving substantial demand and pushing prices to new highs. Investors are closely watching this level, anticipating a breakout that could reshape XRPs trajectory for the remainder of the cycle. Pivotal Liquidity Levels XRP is currently trading at $0.587, sitting at a crucial level that could ignite a massive rally for the altcoin. After surging 15% since early September, the price is testing the weekly 200 moving average (MA) at $0.609 as resistance, a level that has held XRP down since April. Breaking through this barrier is essential for bulls aiming to extend the rally. XRP has reclaimed the weekly 200 exponential moving average (EMA) at $0.52, a strong demand zone since early July. This level will be key in holding up the price if a correction occurs. Related Reading: Crypto Analyst Predicts Dogecoin Will Surge 1,000% Past ATH Price Targets Revealed For XRP to continue up, the price must break the $0.60 level and reclaim the 1W 200 MA as support. A clean break above these levels would signal the potential for a larger rally and a shift in market sentiment. However, failure to close above current levels could lead to more sideways consolidation or even a deeper pullback. In that scenario, XRP may retest the weekly 200 EMA at $0.52, which could work as a critical support level. Featured image from Dall-E, chart from TradingView

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Bitcoin Could Reach $108,000 To $155,000 By 2024 End, Analyst Reveals Why

An analyst has explained why Bitcoin could end the year 2024 inside the $108,000 to $155,000 range if history repeats for the asset. Bitcoin Performance Has Been Similar To Last Two Cycles So Far In a new post on X, analyst James Van Straten has discussed about the BTC price performance from the cycle low chart for the last couple of cycles. As its name suggests, this chart captures the price trend between successive cyclical lows. For the latest cycle, the start-point is naturally the bottom that was observed shortly following the collapse of the cryptocurrency exchange FTX back in late 2022. Related Reading: Bitcoin Hype Remains Low Even After $63,000 Surge: Green Sign For Rally? Below is the chart shared by Van Straten, which shows how this most recent cycle has stacked against the last two so far: As is visible, the asset’s recent price performance has been remarkably similar to that witnessed in the past two cycles at the same stage. “Out of all the graphs, TA etc, Bitcoin from the cycle low continues to be the most valid,” notes the analyst. Given the similarity so far, it’s possible that the coin’s trajectory in the current cycle may continue to mimic that of the last two. Van Straten has pointed out that both these cycles finished September higher. Not just that, this is also the point at which the two began a long-lasting surge that culminated into the bull run highs. Thus, it’s possible that Bitcoin may also surge from here, if the current cycle continues to follow the last two. “If BTC were to finish EOY between the two previous cycles, which it has done for most of the current cycle, we would be looking at 108k-155k,” explains the analyst. From the latest Bitcoin price, a rally to the lower end of this range, $108,000, would mean an increase of around 70%, while that to the $155,000 upper level would suggest growth of more than 144%. Related Reading: These Altcoins Are Seeing High Whale Interest After Fed Rate Cut As always with patterns that depend on history, though, it’s not necessary that BTC would show a rally in this range to end the year. Nonetheless, the analyst says, “if we don’t get a recession, this is entirely possible.” In some other news, as market intelligence platform IntoTheBlock has pointed out in an X post, Tether’s stablecoin, USDT, has reached a new high in its supply recently. As displayed in the above graph, the the USDT market cap has witnessed some sharp growth recently. With the metric’s value now nearly at $120 billion, Tether’s token has left the other stablecoins way behind. The inflows into the stablecoin can actually be relevant to Bitcoin, as capital from USDT generally tends to find its way into the original cryptocurrency. Thus, the growth to a new record suggests the investors potentially have more dry powder available to buy BTC with than ever before. BTC Price Bitcoin has gone stale after its recent recovery as its price is still trading around the $63,600 mark. Featured image from Dall-E, IntoTheBlock.com, Glassnode.com, chart from TradingView.com

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BONK Bulls Take Over: Upside Momentum Builds After Pullback

After a brief pullback, BONK is showing signs of renewed strength as bullish momentum begins to build. The recent price action indicates that bulls have regained control, pushing the token out of its recent slump.  As the market shifts, traders are now eyeing a potential upside breakout, with BONK’s next targets becoming increasingly clear. Could this be the beginning of a fresh rally, or will the bears attempt to reclaim their dominance once again? In this article, we’ll provide an in-depth analysis of BONK’s recent price action following its pullback and explore the renewed bullish strength that has emerged. By examining key technical indicators, well assess whether this shift in momentum signals the potential for further upside and a breakout, or if the token is likely to face resistance in the near term. Technical Indicators: Signs Of Bullish Momentum Building Recently, BONKs price has turned bullish on the 4-hour chart, rebounding and moving above the $0.00001792 resistance level. The meme coin is trading above the 100-day Simple Moving Average (SMA) and is demonstrating strong momentum, with a current focus on moving toward the $0.00002962 level. An analysis of the 4-hour Relative Strength Index (RSI) indicates that bulls may be poised to make a comeback. Although the RSI has decreased to 59% from the overbought zone, it remains above the 50% threshold, suggesting that bullish momentum is still present. This positioning indicates that while there has been some cooling off, the market retains the potential for upward movement as long as the RSI stays above this key level. Related Reading: Bonk Inu (BONK) Skyrockets 10%, Dethroning WIF As Solanas Largest Meme Coin Also, on the daily chart, BONK is displaying positive momentum, evidenced by a rejection wick on the present daily candlestick. Despite being below the 100-day SMA, this rejection wick shows that buyers are stepping in and pushing the price higher, causing the selling pressure to diminish. Finally, on the 1-day chart, a close look at the 1-day RSI formation suggests that BONK may fully resume its upward movement as the indicator’s signal line has climbed above the 50% threshold and is currently positioned at 53%. Potential Upside Targets: Where Could BONK Be Headed Next? As BONK demonstrates renewed bullish strength, key resistance levels to watch include the $0.00002320 mark, where previous price action has encountered obstacles. If BONK can break through this level, it could pave the way for further gains, potentially reaching the next target of around $0.00002962 and beyond. Related Reading: Can BONK Break The Mold? Analyst Predicts Stellar Rise For The Solana Memecoin Conversely, if BONK faces significant resistance at $0.00002320, the price may consolidate or attempt to test the $0.00001792 support level. A break below this range accompanied by strong volume could signal a continuation of the downward trend, possibly targeting the support level at $0.00000942. BONK was trading at about $0.00001803, showing a 2.33% decline over the last 24 hours. The cryptocurrency’s market capitalization stood at roughly $1.2 billion, while trading volume exceeded $128 million, marking decreases of 2.32% and 23.11%, respectively. Featured image from LinkedIn, chart from Tradingview.com

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Crypto Shorts Suffer $147 Million Squeeze As Bitcoin Returns Above $63,000

Data shows the cryptocurrency sector as a whole has witnessed a high amount of liquidations following the volatility Bitcoin and others have gone through. Bitcoin Has Recovered Back Above The $63,000 Level Following the news of the US Federal Reserve cutting back on interest rates, Bitcoin has responded positively, with its price breaking above the [...]

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