Strong Red Signals for Dogecoin (DOGE) and Shiba Inu (SHIB): Is Now the Best Time to Get In?
Dogecoin
The price of Dogecoin has seen a significant drop recently, falling 10% in the past week and 33% in the last month. However, it has more than doubled in value over the past six months. Currently, it is trading between $0.14 and $0.16. The market trend appears to be correcting as the price tilts towards the lower limit of the recent range. DOGE is at a crossroads, with the potential to rise if it breaks the $0.17 resistance, but could fall to $0.13 if the current support fails. While people are excited about its potential rise to $0.20, caution is warranted as it could also test the $0.11 level. The coin’s performance suggests a mixed future, with volatility likely to go both ways.
Is the altcoin season coming? Will Ethereum dominate?
Although the altcoin leader Ethereum price showed a bearish impact on its price action, Ethereum’s tokens have seen an increase in price volatility in their respective charts over the past week, indicating an increase in the price action of these altcoins in the cryptocurrency market. AMP prices have increased by 28.53% in the past day, making it the largest gainer among the top 500 tokens in the industry. On the other hand, W prices have increased by 13.52% in the same period, indicating a bullish outlook for these tokens in the future. AMP Price Analysis: In the first two months, the AMP price fluctuated in a comprehensive range between $0.0017 and $0.0065, showing a neutral trend. Since then, the value has increased by 157.19% and managed to create a new yearly high of $0.01295 in March.
Technical analysis on April 30: BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADA outlook
Even as Bitcoin is finding direction, certain altcoins may start to make moves. Analysts on the chain analysis platform said that the Ethereum network's gas fees have dropped to a six-month low, indicating "lack of network demand." This suggests that the market has bottomed, which may trigger a trend change in Ethereum (ETH) and related altcoins "sooner than many expected." What are the key support levels to watch for Bitcoin and altcoins? Check out this article.
Bitcoin Technical Analysis
Bitcoin is gradually declining towards the critical support of $59,600, where the bulls are likely to mount a strong defense.
April 30th Cryptocurrency Update 1. According to the white paper released by Eigenlayer, the light rail project is not eligible for the first season of EIGEN. PENDLE, GEAR 2. Hong Kong spot Bitcoin and Ethereum ETFs began trading today; 3. EigenLayer launched the EIGEN token through initial shorts on May 10, with a snapshot date of March 15; 4. Coinbase listed NEON and added QCAD to its roadmap for listing on Coinbase; 5. AEVO - $827.6 million AEVO will be unlocked on May 15; 6. BTRST - released its artificial intelligence recruitment tool "Braintrust AIR". 7. CHZ - Dragon8 hard fork was released on the test network, and the main network is scheduled to go online in May; 8. DESO - Revolution PoS test network launched on May 1; 9. FNSA, KLAY - decided to rename the merged "Kaia". 10. ONDO - BlackRock's on-chain fund BUIDL has a management scale of US$350 million; 11. VELO - released the "Digital Gold" white paper. 12. VGX - Bankruptcy judge signed a $450 million FTX-Voyager settlement agreement, and FTX will give up all rights to the $450 million claimed by Voyager. 13. FriendTech will launch FRIEND on May 2. $ENA #Ondo$BTC
Binance expands support for SOL, SHIB, XRP, and ADA. Will prices rebound?
Recently, Binance announced that it would increase support for several major cryptocurrencies, including Cardano (ADA), Shiba Inu (SHIB), Solana (SOL), and Ripple’s native cryptocurrency XRP, paired with the Japanese Yen. This is no small matter, this is big news in the cryptocurrency world!
How the market reacted Everyone is looking forward to the launch of new trading pairs and services, and potential opportunities. As far as the current market situation is concerned, Binance's announcements tend to push up cryptocurrency prices and boost market sentiment. However, the current situation is much more complicated.
Helium (HNT), a decentralized blockchain-powered network for Internet of Things (IoT) devices, has seen a massive 12.68% price increase over the past 24 hours despite the overall cryptocurrency market downturn. The token is currently trading at $5.13 with a market cap of $825,682,305, ranking 98th in the cryptocurrency market cap rankings. HNT’s 24-hour trading volume also surged by 165.68% to $58,037,104. In the past 24 hours, HNT’s trading price fluctuated between a low of $4.53 and a high of $5.52, showing the token’s strong performance during the market downturn.
New week, new hope, Bitcoin (BTC) and Ethereum (ETH) trend forecast
A new week has arrived. Are you ready for new challenges, new opportunities, and even new adventures? Well, let me tell you something that may make your heart beat faster - new candlesticks! Yes, the new candlesticks have once again triggered our continued attention to the trajectory of Bitcoin prices.
BTC Analysis First, let's look at Bitcoin. Every little movement in the market tugs at our heartstrings. Recently, Bitcoin has retested a key support level in the short term. The key support level is right between $61,000 and $62,000. Of course, this range also happens to be the resistance level, which is between $65,000 and $66,000. You may ask, what's so special about this? This is because the price of Bitcoin is currently consolidating in a range and lacks momentum, trending sideways.
Ethereum (ETH) predicted to outperform Bitcoin (BTC), sparking an “epic alt season”: Here’s what to watch
Analyst ParabolicPump has shared insights that the bottom for Ethereum (ETH) and Bitcoin (BTC) may have been established, paving the way for an “epic Altseason.” ParabolicPump tweeted: “ETH/BTC may well have bottomed! The stage is set for an epic Altseason!”
Key indicators sending bullish signals According to ParabolicPump, multiple indicators point to a possible reversal in the market. The analyst stressed that ETH/BTC “bounced perfectly from a lower key level and then managed to reclaim the levels above it.” Therefore, the bears are trapped, which means that the market sentiment may shift.
April 29: Bitcoin (BTC) experienced four consecutive weeks of gains, and some altcoins fell by double digits
The first week after Bitcoin’s halving was pretty bleak. After hitting a weekly high around $67,248, the price fell more than 2% to close the week at $63,304, marking its fourth consecutive weekly decline.
Altcoins Following the lead of big brother Bitcoin, most altcoins in the top 100 have seen price declines over the past week, ranging from 0.6% (Ribbon Finance) to 20.2% (Ethena). In addition to Ethena’s ENA, which suffered the deepest drop, several other tokens also saw double-digit declines, including:
In addition to the falling coins, there are also outstanding names with double-digit gains in the past seven days, such as ZBC +20.7%; PEPE +20.2%; BONK +18.2%; HBAR +16.2%; GT +13.4% and AR rose 11%. Additionally, several other altcoins have also gained between 0.3-9.3% during the same period.
NEAR, AR, CORE, and BONK are strong amid Bitcoin’s sideways movement
NEAR Technical Analysis NEAR closed above the descending channel pattern on April 25, suggesting that the downtrend may be coming to an end.
However, the bears are not giving up yet and are selling near the nearest resistance at $7.70. If the price dips back inside the channel, it will indicate that the breakout could be a bull trap. This could drag the price down to $5.90.
Conversely, if the price breaks above $7.70, it will indicate that bulls have the upper hand. Subsequently, the NEAR/USDT pair is likely to attempt a rally to $9, where the bears are likely to mount a solid defense.
Both moving averages are sloping up and the RSI is in the positive territory, which shows a slight advantage to the bulls. Buyers might face selling in the $7.70 to $8.10 range, but if they succeed in breaking out, the upside could be as high as $9.
April 29th Altcoin Dynamic Update 1. NAKA - Plans to launch a new P2E game and will reveal the new features of NAKAVERSE 2.0; 2. MEME - Large-scale unlocking is scheduled for May 3; (worth $150 million) 3. MSN - Meson Network announced that its Stake function is coming soon; 4. PUPS - The team has been testing rune migration over the weekend. This migration will result in a 1:100 split of the code b and then be listed on CEX; 5. RLB - RLB on Solana migrated to Ethereum on May 1. After May 1, any remaining RLB on the SOL network will be destroyed; 6. SUI - 826M SUI (8.27% of the maximum supply) is scheduled to be unlocked on May 3; 7. VANRY - Vanar Chain has announced that it will launch the mainnet launch event soon and plans to announce new partnerships and adoption this week; 8. XTZ - Tezos announced that it will release news about Manchester United in the next 24 hours. 9. Justin Sun said that the Ethereum ETF will not be approved in May, but he recently withdrew more than $600 million in ETH. $ETHFI $SUI $ETH
These 3 altcoins are set to see huge returns in the future
The cryptocurrency market is full of potential for massive growth, and everyone is on the lookout for the next big success story. As the 2024 bull run gains new enthusiasm, some of the lesser-known cryptocurrencies priced at pennies could deliver impressive returns.
Pepe has momentum but faces headwinds PEPE's recent price has fluctuated in a tight range of $0.00000497 to $0.00000660. Over the past week, the coin has surged 45.32% in value. Looking at the broader picture, monthly performance is down 8.24%, but the 6-month overview shows an impressive gain of 540.17%. Currently, PEPE's trend suggests that it is in a correction phase, rather than an impulsive uptrend, reacting to past gains.
Top Crypto Picks for May: What Altcoin Whales Are Buying
May 2024 is a pivotal moment in the cryptocurrency market, with the bull run in full swing. Investors are on the lookout for profitable opportunities. Amid this trend, a closer look shows that altcoins are attracting significant attention from large-scale buyers. The behavior of these experienced investors often signals potential growth and can guide others in finding smart choices in a fast-moving market. The following analysis delves into the coins that have attracted whale-level interest, aiming to reveal why they may be leading the way in the current climb.
Altcoins are poised to surge against Bitcoin (BTC) in 2024: Here’s why
Altcoins are on the verge of a major rally as Bitcoin’s dominance is expected to decline. This shift could mark a critical altcoin season, during which alternative cryptocurrencies could outperform Bitcoin.
With Bitcoin’s dominance expected to decline, altcoins are on the verge of a major rally. This shift could mark a critical altcoin season, during which alternative cryptocurrencies could outperform Bitcoin. Emerging patterns portend strength for altcoins
This expected shift comes amid observations of historical patterns in Bitcoin dominance. Analyst ParabolicPump noted that Bitcoin dominance is forming a rising wedge pattern. Historically, when this pattern breaks downward, it usually leads to significant strength in altcoins. Therefore, breaking this pattern could set the stage for altcoins to flourish.
$BTC FUD after halving: 1. News that the Ethereum ETF was rejected in May 2. Meimeiguo seeks a 36-month sentence for CZ 3. Mt. Gox repays $9 billion in BTC 4. Interest rate cuts may be delayed 5. SEC’s “Wells Notice” to ConsenSys 6. DTCC “Haircut” FUD – Forbes lists the top 20 “zombie bs” 7. FBI warns about unregistered cryptocurrency senders 8. SEC delays ruling on Bitcoin ETF options
Just as Bitcoin halved, a series of negative news emerged But the market does not rise in a straight line. There are temporary adjustments during the bull market.
Personally, I think the market is still bullish, this is an opportunity, and the bull market story will continue!
One thing could cause Bitcoin (BTC) and crypto to crash in the coming months
Recent economic indicators from the United States have raised concerns about stagflation, casting a shadow over the market, especially Bitcoin. ELJA, a well-known cryptocurrency trader, revealed some key developments, including disappointing GDP data and a sharp rise in core inflation, indicating a challenging economic environment.
Concerns about stagflation loom Well-known cryptocurrency trader ELJA said that the US GDP data was significantly lower than expected by 1.6%, highlighting the weakness of the economy. At the same time, the US core personal consumption expenditures (PCE) index soared from 2% to 3.7%, an increase of 85%.
Predicting Bitcoin (BTC) Next Move: How Long Will It Consolidate?
Bitcoin (BTC) tends to form a re-accumulation range around halving events. Historically, Bitcoin has consolidated in this range for up to 150 days after the halving before breaking out into a parabolic uptrend.
Analyzing Bitcoin’s Cycle Acceleration
When Bitcoin reached its all-time high in mid-March, it meant that its cycle accelerated by 260 days. Despite the subsequent 49-day consolidation, the acceleration has dropped to around 210 days. If Bitcoin repeats history after the halving and consolidates for a total of 150 days, the current cycle will still accelerate, but to a lesser extent — by only 60 days.
A large number of cryptocurrency tokens are expected to be released: it is expected to have an impact on the market
Upcoming major token unlocks in the cryptocurrency space are likely to impact market prices. These events result in an increase in the circulating supply of a particular token and tend to put downward pressure on prices due to increased selling activity. Over the next week, multiple high-value unlocks will occur across various ecosystems, impacting tokens such as MEME, DYDX, OP, PRIME, SUI, MANTA, and YGG.
Details on the main content that will be unlocked On May 3, over 5.31 billion MEME tokens will be unlocked, representing nearly 32% of the current supply and a market cap of approximately $155.98 million. This major launch involves a community airdrop as well as a distribution to advisors and investors. Similarly, the dYdX platform will issue 33.33 million DYDX tokens on May 1, valued at $73.33 million, targeting founders, employees, and advisors. These events are expected to significantly increase the token supply.
Cryptocurrency market trends and predictions for May, such as BNB, ONDO
April was not a good month for the cryptocurrency market, with altcoins experiencing double-digit fluctuations. BTC was beaten down in a narrow space. If there is a rally in May, which cryptocurrencies will stand out?
Binance Coin (BNB) BNB developed the cryptocurrency based on the BNB token at $686. BNB may have successfully cashed out in March, but it has not given up trying to surpass $610 this month due to the general market decline.
BNB has had a hard time hanging the $640 resistance for two months. The RSI shows that there is more room for growth. The $540 level can be watched.
Bitget Token (BGB)
Explore Content For You
Sign up now for a chance to earn 100 USDT in rewards!