đđđ #SolanaWhales Dump $1.41 Million in Assets: Market Speculations Intensify
Whale Activity and Solana's Stability: Key Takeaways
- On August 21, a significant whale sold 10,000 SOL (about $1.41 million), drawing attention to Solana's market stability. This transaction is part of a broader sell-off by the same whale, who has offloaded 114,300 SOL ($16 million) since August 4. The substantial divestment raises concerns about Solana's market prospects.
Market Reactions and Investor Sentiment
- The whale's sell-off has triggered mixed reactions. Some investors remain hopeful about Solanaâs long-term potential, citing its technology and adoption. Others are cautious, worried about the impact of large-scale sell-offs and recent volatility. While supporters view current price swings as temporary, skeptics call for a more measured outlook.
External Factors Affecting Solana
- Solanaâs recent decline, down 2% to around $143 according to CoinGecko, is influenced by broader market uncertainties, including regulatory discussions on potential spot ETFs in the U.S. These factors contribute to the current price fluctuations.
Long-Term Outlook
- Despite short-term volatility, analysts believe Solanaâs strong fundamentalsâperformance and low transaction costsâcould support a rebound. Future developments and partnerships may drive renewed interest.
Conclusion
The recent whale sell-off highlights challenges for Solanaâs stability. As the situation unfolds, investors will be closely watching to gauge Solanaâs future trajectory.
Source - en.coinotag.com
#CryptoNewsCommunity #BinanceSquareTrends #CryptoMarkets
$TRX Price Prediction: The Rally Might Be Shortlived - BeinCrypto Analytics
An analysis of TRXâs key momentum indicators suggests a potential correction may be on the horizon. Currently, its Relative Strength Index (RSI) is 84.76, while the Money Flow Index (MFI) is 91.07. Both indicators assess whether an asset is overbought or oversold. When the RSI exceeds 70, it signals that the asset is overbought and could be due for a pullback. Similarly, an MFI reading above 80 indicates that the market is overbought and a correction may be imminent.
The elevated RSI and MFI values indicate that TRXâs market may be overheating, with signs of buyer exhaustion. As demand wanes and selling pressure increases, TRX is likely to enter a downtrend. If this scenario unfolds, TRXâs price could retreat to $0.14, representing a 13% decline from current levels. However, if the uptrend continues, TRX may reclaim its year-to-date high of $0.17.
Over 30% of Dogecoin, Shiba Inu, Pepe holdings underwater
On Thursday, Dogecoin and PEPE prices came down, but Shiba Inu rose.
Between 30% and 70% of meme coin wallet addresses have unrealized losses.
Shiba Inu's on-chain activity grows while Dogecoin and PEPE fall.
Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE)âthe top meme currencies by market capitalizationâtrade between minor gains and losses on Thursday, following the major crypto assets. DOGE and SHIB gained 3% to 4% in the last week, while PEPE lost 1.37%.
On-chain data indicates Shiba Inu activity growing while Dogecoin and PEPE activity has reduced after August 16.
SHIB on-chain activity surges, DOGE and PEPE lag.
All three meme currencies peaked on August 16 according to Santiment's active addresses table. As seen in the chart below, Dogecoin and PEPE have performed worse than SHIB since then, slowing activity.
PEPE dropped from 2,698 to 2,372 and DOGE from 55,295 to 38,911.
After a minor increase on August 16, Shiba Inu active addresses had risen about 22%.
Between 30% and 70% of wallet addresses holding the top three meme currencies have unrealized losses, according to IntoTheBlock's Global In/Out of the Money statistic.
Traders seldom realize losses on their holdings, thus a sell-off is less likely if a big proportion of wallet addresses are underwater. Wallet addresses with unrealized losses may wait until their assets are lucrative before selling.
DOGE wallets are 45% submerged, SHIB 72%. In contrast, just 31% of PEPE investors are losing.
The analysis reveals that Shiba Inu has the biggest proportion of wallet holders with unrealized losses, making it less likely to sell off than the other two meme currencies.
On Thursday, Shiba Inu trades at $0.00001414, up 0.14%, while Dogecoin and PEPE trade at $0.1057 and $0.00000791.
#PEPE #DOGE #SHIB
Evaluating the Momentum: #MASK/USDT at a Crossroad
$MASK
{spot}(MASKUSDT)
{future}(MASKUSDT)
the MASK/USDT pair is currently trading at $2.115, showing a slight decline of 0.84% in the last session. The price recently broke above a critical resistance level and is now hovering around the $2.115 mark. The 200-period moving average is at $1.998, and the price is comfortably above it, suggesting a bullish medium-term trend. The RSI is at 69.80, indicating that the asset is nearing overbought territory. The MACD histogram is positive, with a MACD line crossing above the signal line, reinforcing the bullish momentum.
Bullish Scenario:
If the price sustains above the $2.100 level, we could see further upside potential. The next significant resistance level is around $2.30, where traders may look to take profit. If momentum continues, a move towards $2.50 could be anticipated.
Bearish Scenario:
Conversely, if the price fails to hold above $2.100 and declines below the $2.00 mark, it could signal a pullback. The next support level is around the 200-period MA at $1.998, followed by stronger support at $1.80.
Disclaimer:
This analysis is for educational purposes only and should not be taken as financial advice. Always perform your own research before making any investment decisions.
#6thTrade #BecomeCreator #Marketupdate #MarketSentimentToday
#BAL/USDT Approaches Key Resistance
$BAL
{spot}(BALUSDT)
{future}(BALUSDT)
The BAL/USDT pair is currently trading at $2.09, with a slight decrease of 0.24% in the latest session. The price is approaching a key resistance level around $2.10, which has been a significant barrier in previous trading sessions. The 200-period moving average at $1.95, below the current price, suggests a bullish short-term trend. However, the RSI is at 72.07, indicating overbought conditions, while the MACD shows a positive trend with a mild upward momentum.
Bullish Scenario:
If BAL/USDT can break above the $2.10 resistance level and sustain that breakout, it could signal the continuation of the bullish trend. Traders may target higher resistance levels around $2.20 and $2.30 as potential upside targets.
Bearish Scenario:
Conversely, if the price fails to break the $2.10 resistance and declines below the support at $2.00, this could indicate a possible reversal. The next significant support level is around $1.90, where traders might expect buying interest to re-emerge.
Disclaimer:
This analysis is for educational purposes only and should not be taken as financial advice. Always perform your own research before making any investment decisions.
#6thTrade #BecomeCreator #MarketSentimentToday #Market_Update
Based on our technical indicators, Ellipsis X's 200-day SMA will drop in the next month and will hit $âŻ0.000183 by Sep 21, 2024. Ellipsis X's short-term 50-Day SMA is estimated to hit $âŻ0.00009893 by Sep 21, 2024.
The Relative Strength Index (RSI) momentum oscillator is a popular indicator that signals whether a cryptocurrency is oversold (below 30) or overbought (above 70). Currently, the RSI value is at 19.51, which indicates that the EPX market is in a oversold position. The RSI indicator suggests that the price of EPX will decrease.
#epxcoin #MarketDownturn #TONonBinance #Write2Earn #BecomeCreator $EPX
{spot}(EPXUSDT)
đïžđąDogecoin experienced a significant price surge following a recent tweet from Elon Musk, the billionaire entrepreneur known for his influence on the cryptocurrency market. Musk, who has a history of affecting Dogecoinâs value with his social media activity, posted a cryptic tweet that many interpreted as a nod to the meme-based cryptocurrency. Within hours, Dogecoinâs price spiked by over 10%, reigniting investor interest and causing a flurry of trading activity.
The tweet, though vague, was enough to stir the market, highlighting the volatility and speculative nature of Dogecoin. Muskâs tweets have previously sent the cryptocurrency soaring, and this latest instance continues the trend. However, analysts caution that such price movements are often short-lived and driven by hype rather than fundamentals.
As Dogecoin continues to be influenced by external factors like social media trends, it remains a highly speculative asset. Investors are advised to proceed with caution, recognizing the potential for rapid price changes based on public sentiment and the actions of influential figures like Musk.#DogecoinCommunity #DogeForever
Solana price prediction: Whatâs next as $SOL stalls below $150? - AMBCrypto Analytics
On the daily chart, the $150 was an intense short-term sell pressure for SOL. Notably, the 200-day SMA (Simple Moving Average) and a daily breaker block (red) aligned at $150.
Put differently, the $150 was a crucial supply zone in the short-term. In fact, SOL has struggled below this confluence level for over a week. This meant that $150 has been critical for taking profits, especially for long-term holders with unrealized gains.Â
Put differently, sellers had market leverage on SOL at the time of writing.
As shown by the sideways movement of the RSI (Relative Strength Index) below average level, the flat demand further illustrated the sellersâ edge. The spot CVD (Cumulative Volume Delta), which tracks buy vs. sell volume across exchanges, declined in August.
The downward trend indicated that SOL had been overwhelmingly under sell-side pressureâa perfect set-up for a short-sellerâs paradise. In the meantime, SOLâs Open Interest (OI) rates have been flat, suggesting that even the demand for the altcoin in derivatives markets has stagnated in the past few days. This also means a neutral market sentiment; as such, SOLâs price could go in either direction.Â
ANNOUNCEMENT: FLOKI DAO PASSES VOTE TO INVEST $200,000 FROM THE FLOKI TREASURY IN SIMON'S CAT TOKEN
After a decisive vote by the $FLOKI DAO, with 97.72% approval, #Floki will allocate $200,000 USDT from the Floki Treasury to invest in the $CAT token, which will be held as a strategic asset.
This decision highlights our dedication to community-driven governance and decision-making.
ByBit has added the $FLOKI / $USDC trading pair! đ„
In response to strong demand, ByBit has added the $FLOKI / $USDC trading pair, boosting #Floki's liquidity to over 40 MILLION users.
As one of the industry's leading and most respected exchanges, #Bybit has a proven track record of safety and reliability. This addition will make it easier for ByBit's massive user base to purchase $FLOKI and interact with the FLOKI ecosystem.
https://t.co/k3FttzMA5W
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Disclaimer: Floki does not endorse any exchange in particular.
We stand by the principle of "Not your keys, not your tokens," encouraging everyone to exercise caution and take full control of their digital assets.
SHIB Price Forecast As Bullish Dominates: Whatâs Next For Meme Coin?
Shiba Inu price is currently facing a crucial resistance point at $0.000015. Surpassing this level could propel its price to $0.00002. This breakthrough may set the stage for climbing the $0.00003 threshold, suggesting a potential bullish swing in the short term.
The Moving Average Convergence Divergence (MACD) shows a bullish crossover, with the MACD line (blue) recently surpassing the signal line (orange). This is a bullish signal, suggesting that upward momentum may be building in the near term.
Conversely, if the resistance holds and bearish trends intensify, the Shiba Inu price forecast could retreat to lower support at $0.000014. A further downturn, influenced by negative market sentiment, might push the price down to $0.000013. Such a decline would indicate a strengthening bearish trajectory in the market.
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Capitalizing on a 1:2 Risk-Reward Ratio: Successful Breakout in #AXL/USDT $AXL
{future}(AXLUSDT)
{spot}(AXLUSDT)
The AXL/USDT trading pair has recently demonstrated a strong upward movement, as seen in the 1-hour chart. After consolidating within a range around $0.5176 to $0.5509, the price broke out and surged to $0.6129. This move highlights a favorable risk-reward ratio of 1:2, where the potential reward (the green zone) is twice the size of the risk area (the red zone).
Traders who identified and executed this setup have effectively managed their risk while capitalizing on the market's bullish momentum. The breakout above the resistance level at $0.5509 was key to this movement, providing a solid foundation for the price to target higher levels. If the momentum continues, the next target could be further upside beyond the current high of $0.6170.
This 1:2 risk-reward ratio setup is ideal for traders who aim to balance risk management with the potential for significant gains, making it a successful strategy in this instance. Congratulations to those who executed this trading plan with precision!
Disclaimer:
This analysis is for educational purposes only and should not be considered financial advice. Cryptocurrency trading carries a high level of risk and may not be suitable for all investors. Always conduct your own research before making any trading decisions.
#BecomeCreator #6thTrade #Market_Update #MarketSentimentToday
**Bitcoin's Volatile Market: Bulls vs. Bears**
Bitcoin has experienced significant price fluctuations recently, hovering around the $60,000 mark. Traders are eyeing the $62,000 level as a critical resistance point. If surpassed, Bitcoin could target $65,000 or higher. Analysts suggest a potential "short squeeze" could drive prices up rapidly.
The U.S. Federal Reserve's hint at possible rate cuts provided a temporary boost to Bitcoin. Lower interest rates generally make riskier assets like BTC more attractive. However, the market's response was modest, and Bitcoin remains within its current trading range.
Technical indicators present mixed signals. The stochastic oscillator suggests an "overbought downturn," indicating the recent uptrend may be losing momentum. Other indicators like the MACD also hint at a potential decline, suggesting Bitcoin could face a price drop in the coming weeks.
The next few weeks are crucial for Bitcoin. Bulls aim to push past $62,000, but strong resistance and bearish signals could lead to a price dip. The crypto market remains unpredictable, and Bitcoin's journey is far from over. Keep an eye on market developments and Fed announcements for further insights.