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Dogecoin is creating a stir as it breaches a significant resistance level, suggesting that the meme coin may be about to undergo a change in momentum. DOGE has recently been caught in a double top, a descending pattern that usually indicates bearish price action.
But now that Dogecoin has surpassed the crucial $0.13 threshold, the pattern is no longer valid. In contrast to reverting to its previous bearish cycle, breaking through this top indicates that Dogecoin may be preparing for a long-term uptrend. This break is important because it allows DOGE to rise even higher, particularly if buying pressure keeps increasing. The next significant obstacle may be well into higher price levels, which would give bulls ample opportunity to drive the price higher now that $0.13 has passed.
Since Dogecoin has reversed the script by moving above the double top pattern, which normally indicates weakness, invalidating it is especially crucial. This makes room for a more hopeful scenario in which DOGE keeps growing. Although volatility should always be taken into account, Dogecoin's recent performance suggests that a long-term bull run may be in the cards.
DOGE may target even higher levels if buyers keep buying and drive the price above significant resistance levels. As the breakout continues, however, the move past $0.13 is encouraging for Dogecoin fans for the time being, and there appears to be a good chance for additional gains. In the upcoming days, monitor the market's response to determine whether this rally has genuine enduring strength.
But now that Dogecoin has surpassed the crucial $0.13 threshold, the pattern is no longer valid. In contrast to reverting to its previous bearish cycle, breaking through this top indicates that Dogecoin may be preparing for a long-term uptrend. This break is important because it allows DOGE to rise even higher, particularly if buying pressure keeps increasing. The next significant obstacle may be well into higher price levels, which would give bulls ample opportunity to drive the price higher now that $0.13 has passed.
Since Dogecoin has reversed the script by moving above the double top pattern, which normally indicates weakness, invalidating it is especially crucial. This makes room for a more hopeful scenario in which DOGE keeps growing. Although volatility should always be taken into account, Dogecoin's recent performance suggests that a long-term bull run may be in the cards.
DOGE may target even higher levels if buyers keep buying and drive the price above significant resistance levels. As the breakout continues, however, the move past $0.13 is encouraging for Dogecoin fans for the time being, and there appears to be a good chance for additional gains. In the upcoming days, monitor the market's response to determine whether this rally has genuine enduring strength.
Bitcoin has just ended a long-term declining trendline that started in March 2024 by breaking through a significant resistance level of $66,000. The long-awaited $70,000 mark could be within reach if this breakout starts a long-term price rally. But there is a big worry: the breakout's low volume suggests that bulls are not in a rush to raise the price of Bitcoin.
Technically, it is significant to break above $66,000, but in the absence of significant buyer interest, it is meaningless. The low volume raises the possibility that bulls may lack the momentum necessary to maintain a strong uptrend, endangering the possible rally. This buyer reluctance suggests that there may be obstacles in the way of Bitcoin's push toward $70,000.
The amount of $65,900 is the next immediate support level. The bullish argument for Bitcoin could be further undermined if the price drops back into a consolidation phase if it is unable to maintain above this level. But if Bitcoin is able to maintain its price above $66,000 and draw in more buyers, there may still be a push for the price to rise, perhaps reaching $70,000.
Bitcoin is still at a crucial point right now. The confirmation that bulls are prepared to take over and push prices higher requires a significant spike in volume. If not, this breakthrough might prove to be a false indication, making Bitcoin susceptible to downward pressure.
Technically, it is significant to break above $66,000, but in the absence of significant buyer interest, it is meaningless. The low volume raises the possibility that bulls may lack the momentum necessary to maintain a strong uptrend, endangering the possible rally. This buyer reluctance suggests that there may be obstacles in the way of Bitcoin's push toward $70,000.
The amount of $65,900 is the next immediate support level. The bullish argument for Bitcoin could be further undermined if the price drops back into a consolidation phase if it is unable to maintain above this level. But if Bitcoin is able to maintain its price above $66,000 and draw in more buyers, there may still be a push for the price to rise, perhaps reaching $70,000.
Bitcoin is still at a crucial point right now. The confirmation that bulls are prepared to take over and push prices higher requires a significant spike in volume. If not, this breakthrough might prove to be a false indication, making Bitcoin susceptible to downward pressure.
The price action of XRP has been strengthening recently, indicating that the death cross that has been approaching for several months is not going to occur. When a short-term moving average crosses below a long-term moving average, it is known as a death cross and usually denotes bearish momentum. The performance of XRP lately, though, points to a potential reversal.
The 200-day EMA is a crucial technical level that traders frequently monitor, and it is currently where XRP is finding resistance. As can be seen from the attached chart, XRP is battling this crucial resistance by circling around the $0.55 range. The asset might avoid the death cross if there is a successful break above the 200 EMA and the start of a new uptrend. Another sign of a decision point is the converging EMAs.
Should XRP be able to maintain its position above this barrier, new bullish momentum may be generated, which would enable the token to keep rising. Conversely, if XRP is unable to overcome the resistance, it could be forced back downhill, which would raise the possibility that the death cross will occur. XRP's future is now largely dependent on its ability to overcome this significant resistance level.
The asset may be able to avoid the approaching bearish signal and start a long-term uptrend, or the market may experience additional selling pressure in the coming weeks. These developments will be determined by future price movements. For more clarity as to what direction to take, observe the volume and price reactions in the upcoming days.#BinanceTurns7 #WeAreAllSatoshi #BTC☀️ #Xrp🔥🔥 #pepe⚡ $BTC $ETH $BNB
The 200-day EMA is a crucial technical level that traders frequently monitor, and it is currently where XRP is finding resistance. As can be seen from the attached chart, XRP is battling this crucial resistance by circling around the $0.55 range. The asset might avoid the death cross if there is a successful break above the 200 EMA and the start of a new uptrend. Another sign of a decision point is the converging EMAs.
Should XRP be able to maintain its position above this barrier, new bullish momentum may be generated, which would enable the token to keep rising. Conversely, if XRP is unable to overcome the resistance, it could be forced back downhill, which would raise the possibility that the death cross will occur. XRP's future is now largely dependent on its ability to overcome this significant resistance level.
The asset may be able to avoid the approaching bearish signal and start a long-term uptrend, or the market may experience additional selling pressure in the coming weeks. These developments will be determined by future price movements. For more clarity as to what direction to take, observe the volume and price reactions in the upcoming days.#BinanceTurns7 #WeAreAllSatoshi #BTC☀️ #Xrp🔥🔥 #pepe⚡ $BTC $ETH $BNB
Popular Solana [SOL]-based meme coin Popcat [POPCAT] is making waves in the cryptocurrency landscape with its impressive performance.
However, in the past few days, it has been struggling to gain momentum, experiencing a price correction alongside major cryptocurrencies like Bitcoin [BTC] and Ethereum [ETH].
POPCAT appeared bullish at press time, as it had formed a bullish double-bottom price action pattern on a daily time frame.
After a price surge of over 35% in just three days, POPCAT has returned to its original range, where it has experienced a notable price surge and is on its way to forming a bullish price action pattern.
Based on the historical price momentum, if POPCAT maintains above the $1.1735 level, there is a strong possibility it could soar by 22% to reach the $1.5 level in the coming days.
On the other hand, if it fails to hold this level and closes a daily candle below the $1.1735 level, we may witness a significant price decline.
POPCAT’s bullish outlook is further supported by on-chain analytics firm Coinglass. Notably, its Open Interest increased by 3.9% over the last 24 hours, indicating traders’ growing interest in the memecoin.
As of press time, the major liquidation levels for POPCAT were near $1.168 on the lower side and $1.259 on the upper side, with traders over-leveraged at these levels, according to the Coinglass data.
If the recent market sentiment remains unchanged and POPCAT’s price soars to the $1.259 level, nearly $2.56 million worth of short positions will be liquidated.
Conversely, if the sentiment shifts and the price drops to the $1.168 level, over $4.01 million worth of long positions will be liquidated.
However, in the past few days, it has been struggling to gain momentum, experiencing a price correction alongside major cryptocurrencies like Bitcoin [BTC] and Ethereum [ETH].
POPCAT appeared bullish at press time, as it had formed a bullish double-bottom price action pattern on a daily time frame.
After a price surge of over 35% in just three days, POPCAT has returned to its original range, where it has experienced a notable price surge and is on its way to forming a bullish price action pattern.
Based on the historical price momentum, if POPCAT maintains above the $1.1735 level, there is a strong possibility it could soar by 22% to reach the $1.5 level in the coming days.
On the other hand, if it fails to hold this level and closes a daily candle below the $1.1735 level, we may witness a significant price decline.
POPCAT’s bullish outlook is further supported by on-chain analytics firm Coinglass. Notably, its Open Interest increased by 3.9% over the last 24 hours, indicating traders’ growing interest in the memecoin.
As of press time, the major liquidation levels for POPCAT were near $1.168 on the lower side and $1.259 on the upper side, with traders over-leveraged at these levels, according to the Coinglass data.
If the recent market sentiment remains unchanged and POPCAT’s price soars to the $1.259 level, nearly $2.56 million worth of short positions will be liquidated.
Conversely, if the sentiment shifts and the price drops to the $1.168 level, over $4.01 million worth of long positions will be liquidated.
Aleo [ALEO] crypto was in a steady downtrend in the past month. The token has shed 64% in value within three weeks, a worrying sign.
It was even more worrying because Bitcoin [BTC] and the rest of the market have seen some gains in the past month.
The firm bearish conviction and lack of buying pressure meant that ALEO is set to march further southward.
The market structure on the 4-hour chart was firmly bearish. The recent lower high was at $2.85. ALEO would need to climb another 19% before it can breach this level and flip the market structure bullishly in this timeframe.
The steady selling pressure was reflected in the OBV with its downtrend. Even though the rest of the market saw some gains alongside BTC in the past month, ALEO could not manage any substantial increase.
The Awesome Oscillator resolutely stayed below the zero line to indicate downward momentum. Overall, though there was a minor bounce from $2.15, there wasn’t a sign of bullishness behind the token.
In the coming weeks, ALEO would need to break the $5.65 Fibonacci 78.6% retracement level to give an early signal that it might be gearing up for a sustained rally. As things stand, this scenario might not play out.
The $2.4 zone saw a cluster of liquidation levels build up around it in the past 48 hours. The recent price bounce from $2.15 swept this zone.
To the north, the next sizeable magnetic zone is at $2.93. Hence, it is likely that the downtrend continues and Aleo crypto will drop toward the $2.1 level and lower.#BinanceTurns7 #WeAreAllSatoshi #BTC☀️ #aleo $BTC $ETH $BNB
It was even more worrying because Bitcoin [BTC] and the rest of the market have seen some gains in the past month.
The firm bearish conviction and lack of buying pressure meant that ALEO is set to march further southward.
The market structure on the 4-hour chart was firmly bearish. The recent lower high was at $2.85. ALEO would need to climb another 19% before it can breach this level and flip the market structure bullishly in this timeframe.
The steady selling pressure was reflected in the OBV with its downtrend. Even though the rest of the market saw some gains alongside BTC in the past month, ALEO could not manage any substantial increase.
The Awesome Oscillator resolutely stayed below the zero line to indicate downward momentum. Overall, though there was a minor bounce from $2.15, there wasn’t a sign of bullishness behind the token.
In the coming weeks, ALEO would need to break the $5.65 Fibonacci 78.6% retracement level to give an early signal that it might be gearing up for a sustained rally. As things stand, this scenario might not play out.
The $2.4 zone saw a cluster of liquidation levels build up around it in the past 48 hours. The recent price bounce from $2.15 swept this zone.
To the north, the next sizeable magnetic zone is at $2.93. Hence, it is likely that the downtrend continues and Aleo crypto will drop toward the $2.1 level and lower.#BinanceTurns7 #WeAreAllSatoshi #BTC☀️ #aleo $BTC $ETH $BNB
Good news for XRP holders as the price moves higher.
Key Support levels: $0.54
Key Resistance levels: $0.60, $0.68
1. Price Reclaims Key Level
After some hesitation, buyers managed to push XRP back above the 54 cents level, which is now acting as key support again. As long as the price holds above this key level, XRP has a clear way to move higher and challenge the resistance at 60 cents next.
2. Buy Volume Remains Low
Even if buyers managed to score a victory this week, the volume does not show high conviction. Since the price drop in late September, buy volume has been weak. If XRP hopes to challenge the 60 cents level in the future, bulls have to step up.
3. MACD Bullish Cross on Daily
The daily MACD brings good news after a bullish cross. This signals that momentum is shifting to the buy side and could be just the start of a sustained rally. It is still early, but this is promising. A test of the resistance at 60 cents would likely put buyers back in control of the price.
Key Support levels: $0.54
Key Resistance levels: $0.60, $0.68
1. Price Reclaims Key Level
After some hesitation, buyers managed to push XRP back above the 54 cents level, which is now acting as key support again. As long as the price holds above this key level, XRP has a clear way to move higher and challenge the resistance at 60 cents next.
2. Buy Volume Remains Low
Even if buyers managed to score a victory this week, the volume does not show high conviction. Since the price drop in late September, buy volume has been weak. If XRP hopes to challenge the 60 cents level in the future, bulls have to step up.
3. MACD Bullish Cross on Daily
The daily MACD brings good news after a bullish cross. This signals that momentum is shifting to the buy side and could be just the start of a sustained rally. It is still early, but this is promising. A test of the resistance at 60 cents would likely put buyers back in control of the price.
Shiba Inu (SHIB) Price Prediction for This Week
SHIB’s uptrend remains intact which puts bulls in charge of the price action.
Key Support levels: $0.000014
Key Resistance levels: $0.000020
1. SHIB Eyes the Key Resistance
Buyers have been slowly moving SHIB higher and higher after the sharp pullback in early October. They did not yet reach the key resistance at $0.000020, but this is their current target. While the price was rejected there last time, a second attempt could be interpreted as bullish.
2. Uptrend Holding Steady
The price has been making higher lows since mid-September and formed a clear uptrend. As long as this holds, buyers have the upper hand. Another push and the price can quickly reach the key resistance at $0.000020 next.
3. Daily RSI is Bullish
The daily timeframe RSI has been in a beautiful uptrend since August. In late September, when it reached overbought levels at over 80 points, sellers pushed SHIB into a corrective move. Since then, the RSI has held steady above 50 points, putting it on the bullish side. This supports higher price levels in the future.
SHIB’s uptrend remains intact which puts bulls in charge of the price action.
Key Support levels: $0.000014
Key Resistance levels: $0.000020
1. SHIB Eyes the Key Resistance
Buyers have been slowly moving SHIB higher and higher after the sharp pullback in early October. They did not yet reach the key resistance at $0.000020, but this is their current target. While the price was rejected there last time, a second attempt could be interpreted as bullish.
2. Uptrend Holding Steady
The price has been making higher lows since mid-September and formed a clear uptrend. As long as this holds, buyers have the upper hand. Another push and the price can quickly reach the key resistance at $0.000020 next.
3. Daily RSI is Bullish
The daily timeframe RSI has been in a beautiful uptrend since August. In late September, when it reached overbought levels at over 80 points, sellers pushed SHIB into a corrective move. Since then, the RSI has held steady above 50 points, putting it on the bullish side. This supports higher price levels in the future.
Ethereum Price Jumps Over 5%
Ethereum price formed a base above the $2,400 level and started a fresh increase. ETH cleared the $2,450 and $2,500 resistance levels to move into a positive zone, beating Bitcoin.
The bulls even pushed the price above the $2,600 level. A high was formed at $2,650 and the price is now consolidating gains. The price is stable above the 23.6% Fib retracement level of the upward wave from the $2,442 swing low to the $2,650 high.
Ethereum price is now trading above $2,550 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $2,52 on the hourly chart of ETH/USD.
On the upside, the price seems to be facing hurdles near the $2,640 level. The first major resistance is near the $2,650 level. A clear move above the $2,650 resistance might send the price toward the $2,720 resistance. An upside break above the $2,720 resistance might call for more gains in the coming sessions.
In the stated case, Ether could rise toward the $2,800 resistance zone in the near term. The next hurdle sits near the $2,880 level or $2,920.
Another Decline In ETH?
If Ethereum fails to clear the $2,650 resistance, it could start another decline. Initial support on the downside is near the $2,600 level. The first major support sits near the $2,520 zone and the trend line or the 61.8% Fib retracement level of the upward wave from the $2,442 swing low to the $2,650 high.
A clear move below the $2,520 support might push the price toward $2,450. Any more losses might send the price toward the $2,400 support level in the near term. The next key support sits at $2,350.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $2,600
Major Resistance Level – $2,650
Ethereum price formed a base above the $2,400 level and started a fresh increase. ETH cleared the $2,450 and $2,500 resistance levels to move into a positive zone, beating Bitcoin.
The bulls even pushed the price above the $2,600 level. A high was formed at $2,650 and the price is now consolidating gains. The price is stable above the 23.6% Fib retracement level of the upward wave from the $2,442 swing low to the $2,650 high.
Ethereum price is now trading above $2,550 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $2,52 on the hourly chart of ETH/USD.
On the upside, the price seems to be facing hurdles near the $2,640 level. The first major resistance is near the $2,650 level. A clear move above the $2,650 resistance might send the price toward the $2,720 resistance. An upside break above the $2,720 resistance might call for more gains in the coming sessions.
In the stated case, Ether could rise toward the $2,800 resistance zone in the near term. The next hurdle sits near the $2,880 level or $2,920.
Another Decline In ETH?
If Ethereum fails to clear the $2,650 resistance, it could start another decline. Initial support on the downside is near the $2,600 level. The first major support sits near the $2,520 zone and the trend line or the 61.8% Fib retracement level of the upward wave from the $2,442 swing low to the $2,650 high.
A clear move below the $2,520 support might push the price toward $2,450. Any more losses might send the price toward the $2,400 support level in the near term. The next key support sits at $2,350.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $2,600
Major Resistance Level – $2,650
Dogecoin has been consolidation, but there are indications that a possible reversal may be approaching. Investors should pay particular attention to three critical price levels as the asset tries to regain momentum. The $0.116 region where Dogecoin has encountered resistance in the past is the first critical level.
A break above this mark can indicate the beginning of a more forceful upward trend. Also a significant moving average that has been a hurdle for the asset in recent weeks is represented by the orange color at this level. More gains may be possible if DOGE can clearly break above $0.116.
Approximately $0.108, which has functioned as both support and resistance in the past few months, is the second level to keep an eye on. Because it marks the middle of Dogecoin's current trading range, this area is very important. The asset may move toward lower support if this level is not held, but a bounce from here would indicate that bullish momentum is increasing.
The psychological level of $0.100, finally, is still important. This round figure aligns with the chart's black 200-day moving average and serves as a significant psychological barrier. Dogecoin would show strong support and be able to avert further declines if it could maintain its position above $0.100.
A break above this mark can indicate the beginning of a more forceful upward trend. Also a significant moving average that has been a hurdle for the asset in recent weeks is represented by the orange color at this level. More gains may be possible if DOGE can clearly break above $0.116.
Approximately $0.108, which has functioned as both support and resistance in the past few months, is the second level to keep an eye on. Because it marks the middle of Dogecoin's current trading range, this area is very important. The asset may move toward lower support if this level is not held, but a bounce from here would indicate that bullish momentum is increasing.
The psychological level of $0.100, finally, is still important. This round figure aligns with the chart's black 200-day moving average and serves as a significant psychological barrier. Dogecoin would show strong support and be able to avert further declines if it could maintain its position above $0.100.
In the last 24 hours, XRP has made a little comeback, which might be the start of a longer-term reversal for the asset. This upward momentum is providing traders some hope for a rebound after the last two weeks have seen a period of suppressed price movement. But there are still significant obstacles to overcome.
XRP saw a big decline at the end of September, losing a significant portion of its value in a short amount of time based on the most recent price action. Bearish sentiment was induced by this sell-off, and there has not been enough buying pressure to stop the decline since. As the token attempts to regain traction, the lack of strong support from buyers is concerning. Technically speaking, XRP is attempting to overcome the resistance level at $0.55, which is essential for the asset to keep up its momentum.
A profitable discovery might pave the way for a shift in the direction of the $0.60 range. But XRP might find it difficult to advance past this point in the absence of significant bullish support. If XRP is to avoid further selling pressure and keep the market from being dominated, it must maintain its position above the $0.50 support level.
Price declines are likely to continue if it breaches this level, indicating the possibility of a bearish trend. Although there has been a slight increase, traders should exercise caution because the general mood of the market is still unstable, and XRP does not have the kind of strong buying interest that could support a long-term recovery.
XRP saw a big decline at the end of September, losing a significant portion of its value in a short amount of time based on the most recent price action. Bearish sentiment was induced by this sell-off, and there has not been enough buying pressure to stop the decline since. As the token attempts to regain traction, the lack of strong support from buyers is concerning. Technically speaking, XRP is attempting to overcome the resistance level at $0.55, which is essential for the asset to keep up its momentum.
A profitable discovery might pave the way for a shift in the direction of the $0.60 range. But XRP might find it difficult to advance past this point in the absence of significant bullish support. If XRP is to avoid further selling pressure and keep the market from being dominated, it must maintain its position above the $0.50 support level.
Price declines are likely to continue if it breaches this level, indicating the possibility of a bearish trend. Although there has been a slight increase, traders should exercise caution because the general mood of the market is still unstable, and XRP does not have the kind of strong buying interest that could support a long-term recovery.
Shiba Inu is getting close to the point where a symmetrical triangle pattern on the chart indicates a big price move may be about to occur. When an asset leaves the triangle's bounds, these patterns have historically suggested that volatility may increase. At this point, SHIB traders are expecting a significant change in momentum.
At present, the price of SHIB is stabilizing within the triangle's narrowing range; typically a strong move in either direction is preceded by this tightening. When assets break out of these patterns, momentum often picks up quickly, potentially leading to a significant price increase. When it comes to SHIB, the asset may see a major upswing in price if it breaks above important resistance levels.
Tokens may target a more significant breakout at the first resistance level, which is approximately $0.000018. Next there is $0.000020 and beyond. SHIB may try to hit higher price levels again, as it did earlier in the year, if the bullish sentiment grows and volume backs the move.
On the negative side, it is important to remember that SHIB may return to the $0.000015 range if it is unable to maintain above support levels. A more substantial decline in value might result if the price does not stay where it is.
At present, the price of SHIB is stabilizing within the triangle's narrowing range; typically a strong move in either direction is preceded by this tightening. When assets break out of these patterns, momentum often picks up quickly, potentially leading to a significant price increase. When it comes to SHIB, the asset may see a major upswing in price if it breaks above important resistance levels.
Tokens may target a more significant breakout at the first resistance level, which is approximately $0.000018. Next there is $0.000020 and beyond. SHIB may try to hit higher price levels again, as it did earlier in the year, if the bullish sentiment grows and volume backs the move.
On the negative side, it is important to remember that SHIB may return to the $0.000015 range if it is unable to maintain above support levels. A more substantial decline in value might result if the price does not stay where it is.
XRP price remained stable above the $0.5220 support, unlike Bitcoin and Ethereum. A base was formed and the price started a fresh increase above $0.5350.
There was a test of the $0.5450 resistance before the price dipped back to $0.5240. A low was formed at $0.5239 and the price is again rising. There was an increase within a range and the price climbed above the $0.5320 resistance.
The price cleared the 50% Fib retracement level of the recent decline from the $0.5439 swing high to the $0.5239 low. The price is now trading above $0.5320 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $0.5280 on the hourly chart of the XRP/USD pair.
On the upside, the price might face resistance near the $0.5360 level. It is close to the 61.8% Fib retracement level of the recent decline from the $0.5439 swing high to the $0.5239 low.
The first major resistance is near the $0.5420 level. The next key resistance could be $0.5450. A clear move above the $0.5450 resistance might send the price toward the $0.5500 resistance. Any more gains might send the price toward the $0.5680 resistance or even $0.5750 in the near term. The next major hurdle might be $0.600.
Another Decline?
If XRP fails to clear the $0.5360 resistance zone, it could start another decline. Initial support on the downside is near the $0.5285 level. The next major support is near the $0.5240 level.
If there is a downside break and a close below the $0.5220 level, the price might continue to decline toward the $0.5120 support in the near term. The next major support sits near the $0.5050 zone.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.
Major Support Levels – $0.5285 and $0.5220.
Major Resistance Levels – $0.5360 and $0.5450.
There was a test of the $0.5450 resistance before the price dipped back to $0.5240. A low was formed at $0.5239 and the price is again rising. There was an increase within a range and the price climbed above the $0.5320 resistance.
The price cleared the 50% Fib retracement level of the recent decline from the $0.5439 swing high to the $0.5239 low. The price is now trading above $0.5320 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $0.5280 on the hourly chart of the XRP/USD pair.
On the upside, the price might face resistance near the $0.5360 level. It is close to the 61.8% Fib retracement level of the recent decline from the $0.5439 swing high to the $0.5239 low.
The first major resistance is near the $0.5420 level. The next key resistance could be $0.5450. A clear move above the $0.5450 resistance might send the price toward the $0.5500 resistance. Any more gains might send the price toward the $0.5680 resistance or even $0.5750 in the near term. The next major hurdle might be $0.600.
Another Decline?
If XRP fails to clear the $0.5360 resistance zone, it could start another decline. Initial support on the downside is near the $0.5285 level. The next major support is near the $0.5240 level.
If there is a downside break and a close below the $0.5220 level, the price might continue to decline toward the $0.5120 support in the near term. The next major support sits near the $0.5050 zone.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.
Major Support Levels – $0.5285 and $0.5220.
Major Resistance Levels – $0.5360 and $0.5450.
For the past three days, BNB has been trapped between the moving average lines but remained stable above the $550 support, as reported by Coinidol.com.
BNB long time price prediction: bullish
Depending on whether the moving average lines are broken, the price movement will now be upwards or downwards. If the bulls break through the 21-day SMA resistance line, BNB will rise to the next barrier at $600.
If the price falls below the 50-day SMA support, the altcoin will lose value. BNB will fall and return to its previous lows above $540 and $500. It is currently valued at $574.
BNB price indicators reading
BNB is trading between the moving average lines after a recent upward correction. Over the next few days, the cryptocurrency is likely to stay within its range. On the 4-hour chart, the price of the altcoin is rising while remaining above the moving average lines. The uptrend was stopped at the $580 mark.
Technical indicators:
Resistance Levels – $600, $650, $700
Support Levels – $400, $350
#WeAreAllSatoshi #BinanceTurns7 #Binance #btc70k
BNB long time price prediction: bullish
Depending on whether the moving average lines are broken, the price movement will now be upwards or downwards. If the bulls break through the 21-day SMA resistance line, BNB will rise to the next barrier at $600.
If the price falls below the 50-day SMA support, the altcoin will lose value. BNB will fall and return to its previous lows above $540 and $500. It is currently valued at $574.
BNB price indicators reading
BNB is trading between the moving average lines after a recent upward correction. Over the next few days, the cryptocurrency is likely to stay within its range. On the 4-hour chart, the price of the altcoin is rising while remaining above the moving average lines. The uptrend was stopped at the $580 mark.
Technical indicators:
Resistance Levels – $600, $650, $700
Support Levels – $400, $350
#WeAreAllSatoshi #BinanceTurns7 #Binance #btc70k
Bonk [BONK] was consolidating within a tight range, on the verge of a breakout at press time. The price has been following a symmetrical triangle pattern, a signal that typically suggests an imminent move.
Analyst World of Charts predicted that if a breakout occurs, it could lead to a bullish wave in the coming weeks. Notably, BONK was approaching the apex of the triangle, indicating that the breakout may happen soon.
World of Charts also highlighted the potential for a breakout based on the symmetrical triangle pattern. This chart formation often leads to price movements, as the consolidation occurs before decisive moves in either direction.
Looking at BONK on the 4-hour chart, the price was holding above the key support level of $0.00002107 at press time.
The 50-period and 100-period EMAs were acting as dynamic supports, but the price has recently tested the 50 EMA, suggesting the possibility of further consolidation.
Should the price break below the 100 EMA at $0.00002108, it could signal downside pressure in the short term.
The Relative Strength Index (RSI) was hovering around 44.95, showing that BONK was approaching oversold conditions.
A recovery in the RSI above 50 could indicate renewed buying pressure, though the current downward trend suggested that the price may continue consolidating.
Additionally, the Moving Average Convergence Divergence (MACD) on the 4-hour chart showed a bearish crossover, reinforcing the potential for a bearish trend unless the price can regain momentum.
As of press time, Bonk’s price was $0.00002124, after a decline of 6.31% in the last 24 hours and 15.59% in the past seven days. With a circulating supply of 69 trillion tokens, $BONK’s market cap was $1.47 billion.#BinanceTurns7 #WeAreAllSatoshi #btc70k #BONK/USDT $BTC $ETH $BNB
Analyst World of Charts predicted that if a breakout occurs, it could lead to a bullish wave in the coming weeks. Notably, BONK was approaching the apex of the triangle, indicating that the breakout may happen soon.
World of Charts also highlighted the potential for a breakout based on the symmetrical triangle pattern. This chart formation often leads to price movements, as the consolidation occurs before decisive moves in either direction.
Looking at BONK on the 4-hour chart, the price was holding above the key support level of $0.00002107 at press time.
The 50-period and 100-period EMAs were acting as dynamic supports, but the price has recently tested the 50 EMA, suggesting the possibility of further consolidation.
Should the price break below the 100 EMA at $0.00002108, it could signal downside pressure in the short term.
The Relative Strength Index (RSI) was hovering around 44.95, showing that BONK was approaching oversold conditions.
A recovery in the RSI above 50 could indicate renewed buying pressure, though the current downward trend suggested that the price may continue consolidating.
Additionally, the Moving Average Convergence Divergence (MACD) on the 4-hour chart showed a bearish crossover, reinforcing the potential for a bearish trend unless the price can regain momentum.
As of press time, Bonk’s price was $0.00002124, after a decline of 6.31% in the last 24 hours and 15.59% in the past seven days. With a circulating supply of 69 trillion tokens, $BONK’s market cap was $1.47 billion.#BinanceTurns7 #WeAreAllSatoshi #btc70k #BONK/USDT $BTC $ETH $BNB
Ethereum price extended its upward move above the $2,400 level. ETH was able to clear the $2,450 resistance to move into a positive zone like Bitcoin. The price was able to climb above the $2,500 resistance zone.
However, the bears were active above $2,500. A high was formed at $2,519 and the price started a downside correction. There was a move below the $2,450 support level. The price dipped below the 23.6% Fib retracement level of the upward move from the $2,311 swing low to the $2,519 high.
Besides, there was a break below a key bullish trend line with support at $2,450 on the hourly chart of ETH/USD. Ethereum price is now trading below $2,450 and the 100-hourly Simple Moving Average.
However, the bulls are protecting the 50% Fib retracement level of the upward move from the $2,311 swing low to the $2,519 high. On the upside, the price seems to be facing hurdles near the $2,450 level. A clear move above the $2,450 resistance might send the price toward the $2,500 resistance.
An upside break above the $2,500 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,580 resistance zone in the near term. The next hurdle sits near the $2,650 level or $2,665.
More Losses In ETH?
If Ethereum fails to clear the $2,450 resistance, it could start another decline. Initial support on the downside is near the $2,420 level. The first major support sits near the $2,400 zone.
A clear move below the $2,400 support might push the price toward $2,320. Any more losses might send the price toward the $2,250 support level in the near term. The next key support sits at $2,120.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now below the 50 zone.
Major Support Level – $2,400
Major Resistance Level – $2,450
However, the bears were active above $2,500. A high was formed at $2,519 and the price started a downside correction. There was a move below the $2,450 support level. The price dipped below the 23.6% Fib retracement level of the upward move from the $2,311 swing low to the $2,519 high.
Besides, there was a break below a key bullish trend line with support at $2,450 on the hourly chart of ETH/USD. Ethereum price is now trading below $2,450 and the 100-hourly Simple Moving Average.
However, the bulls are protecting the 50% Fib retracement level of the upward move from the $2,311 swing low to the $2,519 high. On the upside, the price seems to be facing hurdles near the $2,450 level. A clear move above the $2,450 resistance might send the price toward the $2,500 resistance.
An upside break above the $2,500 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,580 resistance zone in the near term. The next hurdle sits near the $2,650 level or $2,665.
More Losses In ETH?
If Ethereum fails to clear the $2,450 resistance, it could start another decline. Initial support on the downside is near the $2,420 level. The first major support sits near the $2,400 zone.
A clear move below the $2,400 support might push the price toward $2,320. Any more losses might send the price toward the $2,250 support level in the near term. The next key support sits at $2,120.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now below the 50 zone.
Major Support Level – $2,400
Major Resistance Level – $2,450
XRP price remained well-bid above the $0.5080 support level, unlike Bitcoin and Ethereum. The price started a slow upward move above the $0.5220 and $0.5320 resistance levels.
There was a break above a key bearish trend line with resistance at $0.5380 on the hourly chart of the XRP/USD pair. However, the bears were active near the $0.5450 resistance level. They protected the 23.6% Fib retracement level of the downward wave from the $0.6640 swing high to the $0.5070 low.
The price is now trading near $0.5250 and the 100-hourly Simple Moving Average. If there is another increase, the price might face resistance near the $0.5350 level. The first major resistance is near the $0.5450 level.
The next key resistance could be $0.5500. A clear move above the $0.5500 resistance might send the price toward the $0.5850 resistance. It is close to the 50% Fib retracement level of the downward wave from the $0.6640 swing high to the $0.5070 low. Any more gains might send the price toward the $0.6000 resistance or even $0.6050 in the near term. The next major hurdle might be $0.6250.
Another Decline?
If XRP fails to clear the $0.5450 resistance zone, it could start another decline. Initial support on the downside is near the $0.5220 level. The next major support is near the $0.5150 level.
If there is a downside break and a close below the $0.5150 level, the price might continue to decline toward the $0.5050 support in the near term. The next major support sits near the $0.5000 zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.
Major Support Levels – $0.5250 and $0.5120.
Major Resistance Levels – $0.5450 and $0.5500.
There was a break above a key bearish trend line with resistance at $0.5380 on the hourly chart of the XRP/USD pair. However, the bears were active near the $0.5450 resistance level. They protected the 23.6% Fib retracement level of the downward wave from the $0.6640 swing high to the $0.5070 low.
The price is now trading near $0.5250 and the 100-hourly Simple Moving Average. If there is another increase, the price might face resistance near the $0.5350 level. The first major resistance is near the $0.5450 level.
The next key resistance could be $0.5500. A clear move above the $0.5500 resistance might send the price toward the $0.5850 resistance. It is close to the 50% Fib retracement level of the downward wave from the $0.6640 swing high to the $0.5070 low. Any more gains might send the price toward the $0.6000 resistance or even $0.6050 in the near term. The next major hurdle might be $0.6250.
Another Decline?
If XRP fails to clear the $0.5450 resistance zone, it could start another decline. Initial support on the downside is near the $0.5220 level. The next major support is near the $0.5150 level.
If there is a downside break and a close below the $0.5150 level, the price might continue to decline toward the $0.5050 support in the near term. The next major support sits near the $0.5000 zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.
Major Support Levels – $0.5250 and $0.5120.
Major Resistance Levels – $0.5450 and $0.5500.
Solana price climbed above the $145 and $146 levels before the bears appeared. SOL traded as high as $152 and recently started a downside correction like Bitcoin and Ethereum.
The price declined below the $150 and $146 support levels. There was a break below a key bullish trend line with support at $149 on the hourly chart of the SOL/USD pair. The pair slipped below the 23.6% Fib retracement level of the upward move from the $133 swing low to the $152 high.
Solana is now trading near $145 and the 100-hourly simple moving average. The bulls seem to be active above the $142 support and the 50% Fib retracement level of the upward move from the $133 swing low to the $152 high.
On the upside, the price is facing resistance near the $146.50 level. The next major resistance is near the $150 level. The main resistance could be $152. A successful close above the $150 and $152 resistance levels could set the pace for another steady increase. The next key resistance is near $160. Any more gains might send the price toward the $172 level.
More Downsides in SOL?
If SOL fails to rise above the $146.50 resistance, it could start another decline. Initial support on the downside is near the $142 level. The first major support is near the $140 level.
A break below the $140 level might send the price toward the $132 zone. If there is a close below the $132 support, the price could decline toward the $120 support in the near term.
The price declined below the $150 and $146 support levels. There was a break below a key bullish trend line with support at $149 on the hourly chart of the SOL/USD pair. The pair slipped below the 23.6% Fib retracement level of the upward move from the $133 swing low to the $152 high.
Solana is now trading near $145 and the 100-hourly simple moving average. The bulls seem to be active above the $142 support and the 50% Fib retracement level of the upward move from the $133 swing low to the $152 high.
On the upside, the price is facing resistance near the $146.50 level. The next major resistance is near the $150 level. The main resistance could be $152. A successful close above the $150 and $152 resistance levels could set the pace for another steady increase. The next key resistance is near $160. Any more gains might send the price toward the $172 level.
More Downsides in SOL?
If SOL fails to rise above the $146.50 resistance, it could start another decline. Initial support on the downside is near the $142 level. The first major support is near the $140 level.
A break below the $140 level might send the price toward the $132 zone. If there is a close below the $132 support, the price could decline toward the $120 support in the near term.
Chainlink (LINK) Bullish Pattern Could Ignite A Breakout: Analyst Sets $15 Target.
Chainlink is currently trading in a bullish pattern that has been developing for at least seven months, capturing the attention of analysts and investors alike. Many are eagerly anticipating Chainlink to surge during this cycle and finally reclaim new all-time highs. The extended consolidation phase has kept traders on edge, as they await a significant breakout.
Renowned crypto analyst Lucky has shared an insightful prediction regarding Chainlink’s potential trajectory. According to Lucky, the key lies in LINK breaking above its current consolidation range, which would set the stage for a strong upward move. He suggests that once this breakout occurs, Chainlink could quickly surge toward a short-term target of $15.
With bullish sentiment building around this major resistance level, Chainlink’s price action in the coming days could be crucial in determining its direction. Investors are closely monitoring the market, watching for signals that LINK is ready to break free from its long-standing range and enter a new phase of growth.
Chainlink Price Action Turning Bullish
Chainlink’s price action has been largely bearish since hitting its yearly high in March, with the asset now stuck in a prolonged consolidation phase. However, many analysts believe this consolidation could be nearing its end. One top analyst, Lucky, has recently shared a bullish technical analysis on X, offering an optimistic outlook for Chainlink.
Lucky’s analysis reveals that LINK is trading within a falling wedge pattern, a formation often associated with potential bullish reversals. According to his chart, Chainlink has touched the lower boundary of this wedge three times, signaling strong support, and now appears to be gearing up for a breakout from its yearly consolidation range. He predicts that this breakout could happen as early as October, potentially triggering a surge in LINK’s price.
Lucky has set several bullish price targets once Chainlink breaks out of this consolidation phase. The first target is $15, followed by more ambitious targets at $19 and $22. These price levels would represent significant gains from Chainlink’s current price and mark a strong recovery from the bearish trend that has dominated most of 2024.
With bullish patterns emerging, investors are closely watching for Chainlink’s next move, anticipating that a major breakout could propel LINK toward these optimistic price targets.
Technical Analysis: Key Prices To Watch
Chainlink (LINK) is currently trading at $11.09 and is testing a key resistance level, the 4-hour 200 moving average (MA) at $11.10, after a 7% surge since Thursday. This level has become a significant hurdle for bulls, as the price has struggled to break above the indicator. For the bullish momentum to continue, LINK must push past this indicator and aim for higher supply zones around $13.
However, the current price action suggests that bulls are finding it difficult to gain strength at this critical level. Should LINK fail to break above $11.10 and reclaim the higher resistance, a correction may follow. In that scenario, the price could dip to a lower demand zone, with the next key support level at $9.2.
The coming days will likely determine whether LINK can maintain its upward trajectory or see a pullback in price. A successful breakout above the 4-hour 200 MA could signal further gains, while failing to do so may result in a bearish correction.#BinanceTurns7 #WeAreAllSatoshi #Binance #btc70k #Chainlink $BTC $ETH $LINK
Renowned crypto analyst Lucky has shared an insightful prediction regarding Chainlink’s potential trajectory. According to Lucky, the key lies in LINK breaking above its current consolidation range, which would set the stage for a strong upward move. He suggests that once this breakout occurs, Chainlink could quickly surge toward a short-term target of $15.
With bullish sentiment building around this major resistance level, Chainlink’s price action in the coming days could be crucial in determining its direction. Investors are closely monitoring the market, watching for signals that LINK is ready to break free from its long-standing range and enter a new phase of growth.
Chainlink Price Action Turning Bullish
Chainlink’s price action has been largely bearish since hitting its yearly high in March, with the asset now stuck in a prolonged consolidation phase. However, many analysts believe this consolidation could be nearing its end. One top analyst, Lucky, has recently shared a bullish technical analysis on X, offering an optimistic outlook for Chainlink.
Lucky’s analysis reveals that LINK is trading within a falling wedge pattern, a formation often associated with potential bullish reversals. According to his chart, Chainlink has touched the lower boundary of this wedge three times, signaling strong support, and now appears to be gearing up for a breakout from its yearly consolidation range. He predicts that this breakout could happen as early as October, potentially triggering a surge in LINK’s price.
Lucky has set several bullish price targets once Chainlink breaks out of this consolidation phase. The first target is $15, followed by more ambitious targets at $19 and $22. These price levels would represent significant gains from Chainlink’s current price and mark a strong recovery from the bearish trend that has dominated most of 2024.
With bullish patterns emerging, investors are closely watching for Chainlink’s next move, anticipating that a major breakout could propel LINK toward these optimistic price targets.
Technical Analysis: Key Prices To Watch
Chainlink (LINK) is currently trading at $11.09 and is testing a key resistance level, the 4-hour 200 moving average (MA) at $11.10, after a 7% surge since Thursday. This level has become a significant hurdle for bulls, as the price has struggled to break above the indicator. For the bullish momentum to continue, LINK must push past this indicator and aim for higher supply zones around $13.
However, the current price action suggests that bulls are finding it difficult to gain strength at this critical level. Should LINK fail to break above $11.10 and reclaim the higher resistance, a correction may follow. In that scenario, the price could dip to a lower demand zone, with the next key support level at $9.2.
The coming days will likely determine whether LINK can maintain its upward trajectory or see a pullback in price. A successful breakout above the 4-hour 200 MA could signal further gains, while failing to do so may result in a bearish correction.#BinanceTurns7 #WeAreAllSatoshi #Binance #btc70k #Chainlink $BTC $ETH $LINK
Shiba Inu [SHIB] is generating buzz once again, with its latest breakout from a falling wedge pattern signaling potential bullish momentum. At press time, SHIB was trading at $0.0000178, following a 5.98% hike over the last 24 hours.
Shiba Inu’s price has been testing crucial levels, showing signs of a possible trend reversal. The Bollinger Bands (BB) on the chart indicated tightening, with SHIB trading near the upper band at $0.00001784 – A sign of increased volatility and a potential breakout.
Additionally, the RSI sat at 65.36 at press time. This suggested that while SHIB may be approaching overbought territory, it still has room for upward movement. If the memecoin’s price holds above the midline, bullish momentum may continue to build.
A price hike alone isn’t enough to fuel a sustainable rally. Therefore, it’s essential to consider on-chain activity and, SHIB’s data showed some promising signs. Over the last 24 hours, for instance, SHIB’s active addresses rose by 1.1%, hitting 267 at press time.
Additionally, the transaction count also climbed by 1.1%, bringing the total to 7.41k transactions. This uptick in both active addresses and transaction volume pointed to growing interest in SHIB – A positive indicator for its long-term prospects.
Additionally, analyzing SHIB’s long/short ratio revealed more bullish sentiment. At the time of writing, 55.62% of positions were long, with only 44.38% short. The long/short ratio sat at 1.2533, indicating that traders have been largely betting on SHIB’s upward trend.
Therefore, this positive sentiment could further strengthen SHIB’s price movement. Especially if more traders continue to open long positions.#BinanceTurns7 #BTC☀ #shiba⚡ #Binance $BTC $ETH $SHIB
Shiba Inu’s price has been testing crucial levels, showing signs of a possible trend reversal. The Bollinger Bands (BB) on the chart indicated tightening, with SHIB trading near the upper band at $0.00001784 – A sign of increased volatility and a potential breakout.
Additionally, the RSI sat at 65.36 at press time. This suggested that while SHIB may be approaching overbought territory, it still has room for upward movement. If the memecoin’s price holds above the midline, bullish momentum may continue to build.
A price hike alone isn’t enough to fuel a sustainable rally. Therefore, it’s essential to consider on-chain activity and, SHIB’s data showed some promising signs. Over the last 24 hours, for instance, SHIB’s active addresses rose by 1.1%, hitting 267 at press time.
Additionally, the transaction count also climbed by 1.1%, bringing the total to 7.41k transactions. This uptick in both active addresses and transaction volume pointed to growing interest in SHIB – A positive indicator for its long-term prospects.
Additionally, analyzing SHIB’s long/short ratio revealed more bullish sentiment. At the time of writing, 55.62% of positions were long, with only 44.38% short. The long/short ratio sat at 1.2533, indicating that traders have been largely betting on SHIB’s upward trend.
Therefore, this positive sentiment could further strengthen SHIB’s price movement. Especially if more traders continue to open long positions.#BinanceTurns7 #BTC☀ #shiba⚡ #Binance $BTC $ETH $SHIB
It appears that the popular memecoin PEPE is poised for a significant price rally after it formed a bullish pattern. Its on-chain metrics are now flashing bullish market sentiments too.
This bullish reversal comes after PEPE registered a price decline of over 28% in recent days. Owing to the same and a set of contributing factors, PEPE might soon register an uptrend on the charts.
According to technical analysis, PEPE successfully retested its descending trendline breakout. It thus formed a bullish engulfing candlestick at the 200 EMA and support level of $0.0000085 – A bullish sign for PEPE holders.
Based on recent price performances, there is also a strong possibility that PEPE could soar by 35% to reach the 0.0000125 level in the coming days.
Additionally, the memecoin is trading above the 200 EMA, indicating an uptrend, with its Relative Strength Index (RSI) showing potential for an upside rally too.
PEPE Long/Short ratio, for instance, had a reading of 1.062 at press time. This pointed to a strong bullish market sentiment among traders.
Also, its Futures Open Interest jumped by 15% in the last 24 hours and 7.65% in the last four hours. This rising Open Interest underlined traders’ belief and confidence in a price surge in the coming days.
Investors and traders often use a combination of rising Open Interest and long/short ratio above 1 when betting on long positions. Right now, 51.51% of top traders hold long positions, while 48.49% hold short positions.
Additionally, PEPE’s OI-weighted funding rate was positive, with its value at 0.0149%. What this meant was that longs have been paying shorts – Another bullish sign.
At press time, PEPE was trading near $0.0000094, following a hike of over 4.5% in 24 hours. Over the same period, its trading volume dropped by 7.5%, indicating lower participation from traders and investors.
Besides PEPE, other major memecoins like Dogecoin (DOGE), Shiba Inu (SHIB), and dogwifhat (WIF) also saw positive rate changes in the last 24 hours.The last few trading sessions have been good for the market’s memecoins
This bullish reversal comes after PEPE registered a price decline of over 28% in recent days. Owing to the same and a set of contributing factors, PEPE might soon register an uptrend on the charts.
According to technical analysis, PEPE successfully retested its descending trendline breakout. It thus formed a bullish engulfing candlestick at the 200 EMA and support level of $0.0000085 – A bullish sign for PEPE holders.
Based on recent price performances, there is also a strong possibility that PEPE could soar by 35% to reach the 0.0000125 level in the coming days.
Additionally, the memecoin is trading above the 200 EMA, indicating an uptrend, with its Relative Strength Index (RSI) showing potential for an upside rally too.
PEPE Long/Short ratio, for instance, had a reading of 1.062 at press time. This pointed to a strong bullish market sentiment among traders.
Also, its Futures Open Interest jumped by 15% in the last 24 hours and 7.65% in the last four hours. This rising Open Interest underlined traders’ belief and confidence in a price surge in the coming days.
Investors and traders often use a combination of rising Open Interest and long/short ratio above 1 when betting on long positions. Right now, 51.51% of top traders hold long positions, while 48.49% hold short positions.
Additionally, PEPE’s OI-weighted funding rate was positive, with its value at 0.0149%. What this meant was that longs have been paying shorts – Another bullish sign.
At press time, PEPE was trading near $0.0000094, following a hike of over 4.5% in 24 hours. Over the same period, its trading volume dropped by 7.5%, indicating lower participation from traders and investors.
Besides PEPE, other major memecoins like Dogecoin (DOGE), Shiba Inu (SHIB), and dogwifhat (WIF) also saw positive rate changes in the last 24 hours.The last few trading sessions have been good for the market’s memecoins