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Polygon’s Bullish Breakout Potential
#Matic  #Polygon  #CraigWright  #EthereumETF  #FTX  $MATIC  $BTC  $ETH 

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VeChain [VET] price prediction: Will $0.037 support spark recovery?

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VeChain [VET] price prediction: Will $0.037 support spark recovery? VET’s breakout from the descending channel faced a $0.037 retest. Technical indicators and bearish sentiment signaled consolidation before any potential recovery. VeChain [VET] has experienced a sharp retracement after breaking out of its long-standing descending channel. The altcoin was trading at $0.03866, down 11.47% in the last 24 hours. While the breakout initially signaled a positive shift in momentum, the recent price movement suggested caution, as VET appeared to be heading toward a critical retest of the $0.037 support level. The next few sessions could determine whether VET regains bullish momentum or faces extended consolidation. Can VET hold the $0.037 level? The breakout from the descending channel was a significant development for VET. However, the retracement toward the $0.037 level highlighted the market’s uncertainty. If this level holds, it could act as a foundation for the next move toward the $0.05 resistance. Additionally, the 50-day SMA at $0.02566 and the 200-day SMA at $0.02659 were moving closer to forming a golden cross. Historically, such crossovers are bullish indicators. Therefore, maintaining the $0.037 level is crucial to preserving upward potential. What do technical indicators say? The RSI for VET was 63.03 at press time, slightly below the overbought threshold. While this reflected positive sentiment, the recent dip aligns with the price retracement, indicating reduced bullish pressure. Meanwhile, the MACD’s bullish histogram was narrowing, suggesting momentum is fading. The signal line was also nearing a bearish crossover, which could lead to short-term downward pressure. Consequently, technical signals suggested that VET may consolidate further before attempting a breakout toward higher levels. #VeChain #VET #cryptocurrency #cryptomarket #CryptoNews

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AI Predicts SHIB’s Price for December 1, 2024 The cryptocurrency market is facing a correction at the moment. The dip follows Bitcoin’s (BTC) decline to just below $93,000. The global crypto market cap has dipped 2.9% in the last 24 hours to $3.35 trillion. Shiba Inu (SHIB) follows the market trend, facing a 2.3% correction in the daily charts and a 0.9% correction in the 14-day charts. Despite the dip, SHIB continues to maintain some gains in the other time frames. The asset is up 1.7% in the weekly charts, 44.49% in the monthly charts, and 198.4% since late November 2023. Why Is The Crypto Market Down? The current market dip could be due to increased volatility as Bitcoin (BTC) hit a new all-time high of $99,645.39 on Nov. 22, 2024. Market participants may have booked profits as the original crypto inched closer to the $100,000 mark. According to Columbia Business School professor Omid Malekan, “Bitcoin tends to be more volatile during bull markets than in bear markets.“ Shiba Inu (SHIB) and other cryptocurrencies follow BTC’s trajectory. Shiba Inu’s Price On Dec. 1, 2024 According to CoinCodes, SHIB will experience a price spike over the next few days. The platform anticipates the dog-themed crypto to trade at $0.00005094 on Dec. 1, 2024. Hitting $0.00005094 from current price levels will result in a rally of about 107.07%. CoinCodex does not expect SHIB’s price to hold above $0.00005 for long. The platform predicts a price correction to around current levels by mid-December 2024. Changelly analysts also present a bullish outlook for SHIB over the next few days. The platform anticipates the asset to rise to $0.0000492 on Dec. 1, 2024. Hitting $0.0000492 from current price levels will result in a rally of about 100%. Like CoinCodex, Changelly also anticipates SHIB’s price to dip to around current levels by mid-December 2024. #shiba #SHIB #Shibainu #Memecoin #CryptoNews

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AI Predicts SHIB’s Price for December 1, 2024

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Pepe whale deposits 254.65 billion tokens to Binance Pepe declined by 7.8% over the past 24 hours as bearish sentiments persisted. A Pepe whale has transferred 254.65 billion tokens to Binance. Over the past week, Pepe experienced a strong downside as the overall crypto market has turned red. Since hitting a high of $0.00002567, the memecoin has declined to hit a low of $0.000018. This downtrend has caused panic selling, especially among large holders. Pepe whale sells 254.65 Billion tokens Pepe whales have turned to selling. As such, according to Spotonchain, one whale deposited 254.65 billion tokens worth $5.15 million to Binance over the past 24 hours. Usually, a deposit into exchanges by whales shows they are preparing to sell. When whales turn to sell it usually causes selling pressure, thus driving prices down. This increased selling among whales arises as the memecoin has experienced a sustained downtrend over the past week. During the market downside, whales turn to sell to minimize their losses or take their realized profits. Such market activity often precedes price correction. Impact on price charts? As expected, increased selling pressure, especially from large holders, usually leads to price drops. True to this, Pepe was trading at $0.00001863 after a 7.80% decline on daily charts and a 7.56% dip. While whale dumps could result in price drops, AMBCrypto’s analysis shows that Pepe was experiencing a shift in market sentiment from bullish to bearish. For example, Pepe’s Long/Short Difference shows that short positions are dominating the market. With shorts taking 53% of the positions, it suggests that most traders are bearish and expect prices to drop further. Additionally, Pepe’s MVRV long/short difference has declined over the past week from 39 to 35. This often arises from increased selling by long-term holders, signaling their lack of confidence with markets prospects. #PEPE #Pepecoin #MemecoinSeason2024 #AltcoinSeason #CryptoNews

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