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👀 $BTC on the brink: Could we see a soar to $79K soon? - AMBCrypto Analytics
Renowned crypto analyst Ali Martinez brings a fresh perspective to Bitcoin’s future with his latest technical analysis.
Utilizing the MVRV Extreme Deviation Pricing band chart, Martinez points out that BTC is near the +0.5 Standard Deviation (σ) pricing band at $66,800.
This positioning suggests a potential rise to the 1.0σ pricing band, which could see Bitcoin escalating to around $79,600. His analysis hinges on Bitcoin’s ability to maintain its current level, setting the stage for a possible significant increase.
Echoing Martinez’s optimistic outlook, another prominent figure in the crypto trading community, MMCrypto, has taken to X to voice his predictions.
He posits that BTC could either climb to $74,000 or drop to $62,200, dependent on market movements in the coming days.
His predictions are accompanied by a chart illustrating a pivotal triangle pattern. According to MMCrypto, this pattern is due to resolve within 48 hours, suggesting imminent significant price movement.
Technical analysis of BTC’s daily chart reveals that the asset has recently encountered a major supply zone after breaking downward structures.
This encounter at a critical resistance level may dictate Bitcoin’s short-term price trajectory. If Bitcoin can breach the $72,000 mark, surpassing the previous lower high, it could invalidate bearish forecasts and signal a strong bullish trend.
Renowned crypto analyst Ali Martinez brings a fresh perspective to Bitcoin’s future with his latest technical analysis.
Utilizing the MVRV Extreme Deviation Pricing band chart, Martinez points out that BTC is near the +0.5 Standard Deviation (σ) pricing band at $66,800.
This positioning suggests a potential rise to the 1.0σ pricing band, which could see Bitcoin escalating to around $79,600. His analysis hinges on Bitcoin’s ability to maintain its current level, setting the stage for a possible significant increase.
Echoing Martinez’s optimistic outlook, another prominent figure in the crypto trading community, MMCrypto, has taken to X to voice his predictions.
He posits that BTC could either climb to $74,000 or drop to $62,200, dependent on market movements in the coming days.
His predictions are accompanied by a chart illustrating a pivotal triangle pattern. According to MMCrypto, this pattern is due to resolve within 48 hours, suggesting imminent significant price movement.
Technical analysis of BTC’s daily chart reveals that the asset has recently encountered a major supply zone after breaking downward structures.
This encounter at a critical resistance level may dictate Bitcoin’s short-term price trajectory. If Bitcoin can breach the $72,000 mark, surpassing the previous lower high, it could invalidate bearish forecasts and signal a strong bullish trend.
💥 $PEPE Price Slips Amid Whale Dump - CoinGape Analytics
According to a recent report by the on-chain transaction tracking platform SpotOnChain, a Pepe Coin whale has deposited a staggering 366 billion PEPE, worth $5.31 million, into Binance. Notably, the report suggests that this move could be a sell-off by the large holder, especially as the Pepe Coin has noted significant gains over the past few days.
Meanwhile, this transaction allowed the whale to realize an estimated profit of $4.84 million, a remarkable gain of 985%. In addition, the report highlights that this whale used the same deposit address as two other smart traders who recently profited from PEPE.
In other words, the recent surge in the meme coin’s price created an opportune moment for several PEPE investors to book profits. However, this influx of large transactions has resulted in a price dip.
The market’s reaction to these substantial dumps has been mixed, with some investors expressing concern about the potential for further declines. The significant profits realized by these whales indicate a pattern of strategic trading that could influence the coin’s market dynamics.
However, investors are closely monitoring the situation, trying to anticipate the next moves of these large holders. In addition, Pepe Coin’s recent price surge was driven by a combination of factors, including increased market interest in meme coins and speculative trading.
However, the influx of large sell orders from whales seems to have tempered this enthusiasm. The market is now in a state of flux, with many traders waiting to see if the price will stabilize or continue to dip.
As of writing, the Pepe Coin price was down 6.02% and exchanged hands at $0.00001434, while its trading volume fell 18% to $1.28 billion. However, over the last 30 days, the PEPE price rose about 70%, reflecting the growing confidence of the traders towards the frog-themed meme coin. Meanwhile, the Pepe Coin Open Interest fell 6.83% to $159.02 million, CoinGlass data showed.
According to a recent report by the on-chain transaction tracking platform SpotOnChain, a Pepe Coin whale has deposited a staggering 366 billion PEPE, worth $5.31 million, into Binance. Notably, the report suggests that this move could be a sell-off by the large holder, especially as the Pepe Coin has noted significant gains over the past few days.
Meanwhile, this transaction allowed the whale to realize an estimated profit of $4.84 million, a remarkable gain of 985%. In addition, the report highlights that this whale used the same deposit address as two other smart traders who recently profited from PEPE.
In other words, the recent surge in the meme coin’s price created an opportune moment for several PEPE investors to book profits. However, this influx of large transactions has resulted in a price dip.
The market’s reaction to these substantial dumps has been mixed, with some investors expressing concern about the potential for further declines. The significant profits realized by these whales indicate a pattern of strategic trading that could influence the coin’s market dynamics.
However, investors are closely monitoring the situation, trying to anticipate the next moves of these large holders. In addition, Pepe Coin’s recent price surge was driven by a combination of factors, including increased market interest in meme coins and speculative trading.
However, the influx of large sell orders from whales seems to have tempered this enthusiasm. The market is now in a state of flux, with many traders waiting to see if the price will stabilize or continue to dip.
As of writing, the Pepe Coin price was down 6.02% and exchanged hands at $0.00001434, while its trading volume fell 18% to $1.28 billion. However, over the last 30 days, the PEPE price rose about 70%, reflecting the growing confidence of the traders towards the frog-themed meme coin. Meanwhile, the Pepe Coin Open Interest fell 6.83% to $159.02 million, CoinGlass data showed.
🚀 $SHIB poised for a comeback? - AMBCrypto Analytics
CoinMarketCap’s data revealed that the world’s second-largest memecoin’s price surged substantially on the 29th of May, allowing it to touch $0.00002924.
But SHIB couldn’t sustain the pump and fell victim to multiple price corrections. AMBCrypto’s analysis of the memecoin’s chart revealed that the recent price drop pushed its value to a critical support level of $0.00002437.
If SHIB fails to test the resistance and falls under it, then investors might witness the token drop to $0.000020.
On the other hand, a successful test of the support could kickstart a bull rally, which might result in SHIB touching $0.000029 in the coming days.
The technical indicator MACD’s data revealed that the bulls and the bears were in a battle to gain an advantage over each other. But the rest of the indicators suggested that the bulls might turn out to be victorious.
For example, the Chaikin Money Flow (CMF) registered an uptick, and the Relative Strength Index (RSI) also followed a similar trend, hinting at a successful test of the support.
CoinMarketCap’s data revealed that the world’s second-largest memecoin’s price surged substantially on the 29th of May, allowing it to touch $0.00002924.
But SHIB couldn’t sustain the pump and fell victim to multiple price corrections. AMBCrypto’s analysis of the memecoin’s chart revealed that the recent price drop pushed its value to a critical support level of $0.00002437.
If SHIB fails to test the resistance and falls under it, then investors might witness the token drop to $0.000020.
On the other hand, a successful test of the support could kickstart a bull rally, which might result in SHIB touching $0.000029 in the coming days.
The technical indicator MACD’s data revealed that the bulls and the bears were in a battle to gain an advantage over each other. But the rest of the indicators suggested that the bulls might turn out to be victorious.
For example, the Chaikin Money Flow (CMF) registered an uptick, and the Relative Strength Index (RSI) also followed a similar trend, hinting at a successful test of the support.
💵 Weekly Analysis of $SOL , $MATIC , $WIF - GNCrypto Analytics
On a local scale, Solana’s market movement has been relatively flat, suggesting that a global timeframe analysis might be more revealing.
The asset has been trading within a narrow range, confined by support at $153–$161 and resistance at $174–$186. A breakout from this range will dictate Solana's next market trend. If the buyers gain the upper hand, the coin could move towards the next resistance level at $204.7, potentially setting sights on reaching a new all-time high at $260.
Conversely, in a bearish scenario, SOL might revisit the support level at $140, where it is likely that buyers would continue to accumulate long positions.
MATIC continues to trade within a broad range between the support zone of $0.62–$0.67 and the resistance zone of $0.74–$0.77. Neither buyers nor sellers are currently showing significant activity, which has resulted in low volatility.
If MATIC can break through the current resistance, the next significant seller orders could emerge within the $0.83–$0.88 zone. Such movement could be triggered either by overall positive sentiment in the market or specific positive developments from Polygon.
Should a deeper correction occur, the coin might revisit the local low of $0.588.
The market maker for the meme coin WIF is exhibiting strong performance. The asset maintains a clear upward trend without significant pullbacks.
Presently, the coin is near the support range of $2.84–$3.16. A successful defense of this zone would confirm the ongoing uptrend, with future targets set at $3.74–$4.07, $4.34, and $4.85.
Given the current peak in meme coin hype, a market correction appears unlikely at this moment.
On a local scale, Solana’s market movement has been relatively flat, suggesting that a global timeframe analysis might be more revealing.
The asset has been trading within a narrow range, confined by support at $153–$161 and resistance at $174–$186. A breakout from this range will dictate Solana's next market trend. If the buyers gain the upper hand, the coin could move towards the next resistance level at $204.7, potentially setting sights on reaching a new all-time high at $260.
Conversely, in a bearish scenario, SOL might revisit the support level at $140, where it is likely that buyers would continue to accumulate long positions.
MATIC continues to trade within a broad range between the support zone of $0.62–$0.67 and the resistance zone of $0.74–$0.77. Neither buyers nor sellers are currently showing significant activity, which has resulted in low volatility.
If MATIC can break through the current resistance, the next significant seller orders could emerge within the $0.83–$0.88 zone. Such movement could be triggered either by overall positive sentiment in the market or specific positive developments from Polygon.
Should a deeper correction occur, the coin might revisit the local low of $0.588.
The market maker for the meme coin WIF is exhibiting strong performance. The asset maintains a clear upward trend without significant pullbacks.
Presently, the coin is near the support range of $2.84–$3.16. A successful defense of this zone would confirm the ongoing uptrend, with future targets set at $3.74–$4.07, $4.34, and $4.85.
Given the current peak in meme coin hype, a market correction appears unlikely at this moment.
🔥 $NOT Market Cap Surpasses $LDO and $TIA - BeinCrypto Analytics
Notcoin’s price nearly doubled in just 48 hours, resulting in the altcoin’s market valuation crossing the $2 billion mark. Close to hitting $2.2 billion in market cap, NOT is not too far away from becoming one of the 50 biggest crypto assets in the world.
The recent rally has already resulted in Notcoin outperforming the likes of Lido DAO (LDO), Celestia (TIA), ThorChain (RUNE), Fetch.ai (FET), and many others. Next on the list are Fantom (FTM) and BONK, surpassing which would bring NOT into the top 50 asset list.
The recent surge, however, has affected not only the asset but the entire industry. Notcoin is a web3 game on the Toncoin (TON) blockchain, so it inherently falls into the gaming tokens list.
Notcoin’s price has already gained almost 100% in the last two days, bringing it up from $0.011 to $0.021 at the time of writing. The altcoin even marked a new all-time high of $0.029 yesterday, making it the first since the asset’s launch on May 16.
While NOT may not seem to be on the path of a new all-time high at the time of writing, it could pick up the pace soon. This is because the altcoin is close to entering the top 50 assets, which is a major milestone that may push the price higher.
As a result, Notcoin’s price could rise to $0.030 or more.
However, NOT holders may see this as an opportunity to cash out and secure their gains. If they do so, Notcoin’s price could take a hit. It could lose the support of $0.020 and fall to lows of $0.015, invalidating the bullish thesis and wiping out recent gains.
Notcoin’s price nearly doubled in just 48 hours, resulting in the altcoin’s market valuation crossing the $2 billion mark. Close to hitting $2.2 billion in market cap, NOT is not too far away from becoming one of the 50 biggest crypto assets in the world.
The recent rally has already resulted in Notcoin outperforming the likes of Lido DAO (LDO), Celestia (TIA), ThorChain (RUNE), Fetch.ai (FET), and many others. Next on the list are Fantom (FTM) and BONK, surpassing which would bring NOT into the top 50 asset list.
The recent surge, however, has affected not only the asset but the entire industry. Notcoin is a web3 game on the Toncoin (TON) blockchain, so it inherently falls into the gaming tokens list.
Notcoin’s price has already gained almost 100% in the last two days, bringing it up from $0.011 to $0.021 at the time of writing. The altcoin even marked a new all-time high of $0.029 yesterday, making it the first since the asset’s launch on May 16.
While NOT may not seem to be on the path of a new all-time high at the time of writing, it could pick up the pace soon. This is because the altcoin is close to entering the top 50 assets, which is a major milestone that may push the price higher.
As a result, Notcoin’s price could rise to $0.030 or more.
However, NOT holders may see this as an opportunity to cash out and secure their gains. If they do so, Notcoin’s price could take a hit. It could lose the support of $0.020 and fall to lows of $0.015, invalidating the bullish thesis and wiping out recent gains.
👀 Is $WIF position under threat? - AMBCrypto Analytics
At press time, WIF was trading at $3.25, with its price down by 3.20% in the last 24 hours. The memecoin’s price saw major fluctuations over the past few weeks, moving between the $4.1243 and $1.9586 levels. No bullish or bearish trend has been established due to the high volatility exhibited by this memecoin.
The RSI (Relative Strength Index) for WIF declined to 41.84 over the last few days. This indicated that bullish momentum around WIF had fallen significantly. Moreover, the CMF (Chaikin Money Flow) also fell to -0.27. A declining CMF is a sign of capital outflows across WIF’s market.
If this trend continues, the altcoin’s price could retest its $2.479 levels in the future.
Another factor that could influence WIF significantly would be its popularity on social media platforms. AMBCrypto’s analysis of Santiment’s data revealed that the social volume for WIF fell. Coupled with that, the weighted sentiment around WIF also declined significantly over the last few days.
A falling weighted sentiment meant that the number of negative comments around WIF outweighed positive ones, at the time of writing.
Declining social volume and falling sentiment could lend more downward pressure to the market.
Traders shared a similar sentiment. In fact, an examination of Coinglass’ data revealed that the number of short positions taken against WIF had surged over the past few days. The percentage of shorts grew from 48% to 52.5% over the past week.
At press time, WIF was trading at $3.25, with its price down by 3.20% in the last 24 hours. The memecoin’s price saw major fluctuations over the past few weeks, moving between the $4.1243 and $1.9586 levels. No bullish or bearish trend has been established due to the high volatility exhibited by this memecoin.
The RSI (Relative Strength Index) for WIF declined to 41.84 over the last few days. This indicated that bullish momentum around WIF had fallen significantly. Moreover, the CMF (Chaikin Money Flow) also fell to -0.27. A declining CMF is a sign of capital outflows across WIF’s market.
If this trend continues, the altcoin’s price could retest its $2.479 levels in the future.
Another factor that could influence WIF significantly would be its popularity on social media platforms. AMBCrypto’s analysis of Santiment’s data revealed that the social volume for WIF fell. Coupled with that, the weighted sentiment around WIF also declined significantly over the last few days.
A falling weighted sentiment meant that the number of negative comments around WIF outweighed positive ones, at the time of writing.
Declining social volume and falling sentiment could lend more downward pressure to the market.
Traders shared a similar sentiment. In fact, an examination of Coinglass’ data revealed that the number of short positions taken against WIF had surged over the past few days. The percentage of shorts grew from 48% to 52.5% over the past week.
💥 $DOGE price prediction: Is a June rally likely? - AMBCrypto Analytics
As per AMBCrypto analysis, DOGE’s Relative Strength Index (RSI) moved sideways at the neutral mark. Both its Money Flow Index (MFI) and Chaikin Money Flow (CMF) registered minor upticks.
These indicators suggested that investors might witness a few slow-moving days during the beginning of June.
AMBCrypto then checked Hyblock Capital’s data to look for immediate targets for DOGE. If DOGE gains bullish momentum, then its price might first reach $0.167 as liquidation would rise at that level.
Generally, a rise in liquidation results in a price correction. To the contrary, if DOGE remains bearish, then its value might drop to $0.153.
Going forward, let’s have a look at long-term Dogecoin price predictions. A bull rally in June could send DOGE easily to its April high of $0.21.
If DOGE breaks out above that level and manages to sustain the rally, then expecting the memecoin to touch $0.28 in June won’t be ambitious.
As per AMBCrypto analysis, DOGE’s Relative Strength Index (RSI) moved sideways at the neutral mark. Both its Money Flow Index (MFI) and Chaikin Money Flow (CMF) registered minor upticks.
These indicators suggested that investors might witness a few slow-moving days during the beginning of June.
AMBCrypto then checked Hyblock Capital’s data to look for immediate targets for DOGE. If DOGE gains bullish momentum, then its price might first reach $0.167 as liquidation would rise at that level.
Generally, a rise in liquidation results in a price correction. To the contrary, if DOGE remains bearish, then its value might drop to $0.153.
Going forward, let’s have a look at long-term Dogecoin price predictions. A bull rally in June could send DOGE easily to its April high of $0.21.
If DOGE breaks out above that level and manages to sustain the rally, then expecting the memecoin to touch $0.28 in June won’t be ambitious.
🚀 Notcoin Price Analysis: $NOT Targeting $0.1 After 89% Weekend Rally? - Coingape Analytics
Notcoin price is trending far above the 50-day and 200-day simple moving averages (SMA), a bullish indicator for investors. In the meantime, the price has retraced to the 0.5 Fibonacci retracement level, which coincides with $0.021. This key retracement level often provides support for assets in price discovery mode.
A bounce from here could see NOT price touch the 0.27 Fibonacci extension level around $0.034. From that point, the price action would be 7% shy of the previous all-time high price.
NOT price has been ripping the charts apart as the Tap-to-Earn memecoin rises through the top 100 ranks.
As of press time, NOT is trading at^
- $0,02115 on MEXC
- $0,02120 on WhiteBIT
- $0,02119 on Binance
On the way up, NOT may experience some resistance around $0.032, $0.043 and $0.057. Conversely, strong support may exist around the 50-day SMA ($0.019) and the 200-day SMA ($0.0123).
Notcoin price is trending far above the 50-day and 200-day simple moving averages (SMA), a bullish indicator for investors. In the meantime, the price has retraced to the 0.5 Fibonacci retracement level, which coincides with $0.021. This key retracement level often provides support for assets in price discovery mode.
A bounce from here could see NOT price touch the 0.27 Fibonacci extension level around $0.034. From that point, the price action would be 7% shy of the previous all-time high price.
NOT price has been ripping the charts apart as the Tap-to-Earn memecoin rises through the top 100 ranks.
As of press time, NOT is trading at^
- $0,02115 on MEXC
- $0,02120 on WhiteBIT
- $0,02119 on Binance
On the way up, NOT may experience some resistance around $0.032, $0.043 and $0.057. Conversely, strong support may exist around the 50-day SMA ($0.019) and the 200-day SMA ($0.0123).
💵 Shiba Inu Loses Vital Support: Critical State of $SHIB - U.Today Analytics
Shiba Inu is on the verge of losing some important ground for the price, and it may lead to some serious issues for the token. However, there are some support levels below the aforementioned support. Luckily, the volume is descending, which, in case of a dropping price, is a good sign for the asset. There is a worrying trend in the SHIB technical indicators. The price has been attempting to maintain a higher level above $0.00002476 while testing the lower bounds of its current trading range.
This scenario implies the possibility of a further decline in SHIB should it be unable to hold its position above these support levels. Another bearish signal on the chart is the descending triangle pattern, which usually indicates that the downward trend will continue.
Regarding volume, this bearish scenario of decreasing trading volume is encouraging. The price may short-term stabilize, if lower volume on a downward trend typically signifies waning selling pressure. But SHIB will require a large boost in buying interest — which is not there at the moment — for a meaningful recovery. Bearish signals are also visible in the relative strength index, which is hovering near the oversold area at 44. This suggests that there may be room for a price bounce, but the next move will largely depend on how the market feels overall. Investors need to monitor the $0.00002310 support level closely.
Shiba Inu is on the verge of losing some important ground for the price, and it may lead to some serious issues for the token. However, there are some support levels below the aforementioned support. Luckily, the volume is descending, which, in case of a dropping price, is a good sign for the asset. There is a worrying trend in the SHIB technical indicators. The price has been attempting to maintain a higher level above $0.00002476 while testing the lower bounds of its current trading range.
This scenario implies the possibility of a further decline in SHIB should it be unable to hold its position above these support levels. Another bearish signal on the chart is the descending triangle pattern, which usually indicates that the downward trend will continue.
Regarding volume, this bearish scenario of decreasing trading volume is encouraging. The price may short-term stabilize, if lower volume on a downward trend typically signifies waning selling pressure. But SHIB will require a large boost in buying interest — which is not there at the moment — for a meaningful recovery. Bearish signals are also visible in the relative strength index, which is hovering near the oversold area at 44. This suggests that there may be room for a price bounce, but the next move will largely depend on how the market feels overall. Investors need to monitor the $0.00002310 support level closely.
🔥 Can $SOL reignite ‘Solana Summer’ amid price stagnation? - AMBCrypto Analytics
SOL’s price is currently hovering just above its 50-day moving average (MA50), suggesting a tentative hold in bullish territory but struggling to maintain upward momentum.
The 200-day moving average (MA200) sits slightly above the current price, serving as a possible resistance zone that SOL needs to breach to stage a bullish takeover.
The Relative Strength Index (RSI) near the midpoint (around 47) aligns with this consolidation.
Solana must break past the $190 level to turn the current resistance into support and initiate a stronger rally.
All in all, we see a market that is hesitantly bullish but not fully committed, likely due to SOL’s recent performance plateau. This could lead to continued consolidation until a new catalyst either confirms a bullish continuation or initiates a bearish reversal.
SOL’s price is currently hovering just above its 50-day moving average (MA50), suggesting a tentative hold in bullish territory but struggling to maintain upward momentum.
The 200-day moving average (MA200) sits slightly above the current price, serving as a possible resistance zone that SOL needs to breach to stage a bullish takeover.
The Relative Strength Index (RSI) near the midpoint (around 47) aligns with this consolidation.
Solana must break past the $190 level to turn the current resistance into support and initiate a stronger rally.
All in all, we see a market that is hesitantly bullish but not fully committed, likely due to SOL’s recent performance plateau. This could lead to continued consolidation until a new catalyst either confirms a bullish continuation or initiates a bearish reversal.
👀 According to AMBCrypto: $XRP ready to soar?
The XRP/USD chart reflects the end of a consolidative pattern, indicating an ongoing tug-of-war between buyers (bulls) and sellers (bears). The RSI has been hovering around the 60 mark, suggesting a slight bullish momentum without reaching overbought conditions.
The MACD line is above the signal line and both are trending upward, also indicating growing bullish momentum.
Considering the current price oscillating around $0.52, immediate resistance can be spotted near the $0.53 level, a point that has seen multiple rejections over the last few days.
If XRP can sustainably breach this level, it could trigger further buying, potentially targeting the next resistance around $0.55. Meanwhile, XRP’s exchange reserve has decreased over the past week.
Sharp decreases in these reserves generally suggest a reduction in selling/bearish pressure or potential accumulation by holders, which can precede price increases if demand remains steady or grows.
The XRP/USD chart reflects the end of a consolidative pattern, indicating an ongoing tug-of-war between buyers (bulls) and sellers (bears). The RSI has been hovering around the 60 mark, suggesting a slight bullish momentum without reaching overbought conditions.
The MACD line is above the signal line and both are trending upward, also indicating growing bullish momentum.
Considering the current price oscillating around $0.52, immediate resistance can be spotted near the $0.53 level, a point that has seen multiple rejections over the last few days.
If XRP can sustainably breach this level, it could trigger further buying, potentially targeting the next resistance around $0.55. Meanwhile, XRP’s exchange reserve has decreased over the past week.
Sharp decreases in these reserves generally suggest a reduction in selling/bearish pressure or potential accumulation by holders, which can precede price increases if demand remains steady or grows.
💥 According to CoinPedia: Is $SOL Heading Back into the Decessive Range?
With the resurgence of memecoin mania, Solana also received significant momentum. The bulls used all their strength to keep the value above $180 but the growing bearish strength caused a notable pullback. As a result, the SOL price is consolidating strongly within a narrow range of $163 to $172, indicating the possibility of a large move ahead
As suggested in the above chart, the SOL price continues its trade within a symmetrical triangle and is currently holding above the local support zone between $155 and $160. The tight accumulation has occurred due to the equal participation of the bulls and bears and hence this suggests a huge price action could be on the horizon.
Besides, the technicals suggest a notable change in the trend as the Gaussian channel just turned green, indicating the beginning of an upswing. Moreover, the price is closely ranging just below the upper bands of the channel and if they manage to break above the levels, a fresh upswing may begin. Secondly, the stochastic RSI has also reached below the lower threshold and could be preparing for a rebound, substantiating the bullish claim.
Therefore, Solana’s (SOL) price continues to remain within bullish influence and hence a bullish breakout above $175 may be expected at the beginning of the second half of 2024.
With the resurgence of memecoin mania, Solana also received significant momentum. The bulls used all their strength to keep the value above $180 but the growing bearish strength caused a notable pullback. As a result, the SOL price is consolidating strongly within a narrow range of $163 to $172, indicating the possibility of a large move ahead
As suggested in the above chart, the SOL price continues its trade within a symmetrical triangle and is currently holding above the local support zone between $155 and $160. The tight accumulation has occurred due to the equal participation of the bulls and bears and hence this suggests a huge price action could be on the horizon.
Besides, the technicals suggest a notable change in the trend as the Gaussian channel just turned green, indicating the beginning of an upswing. Moreover, the price is closely ranging just below the upper bands of the channel and if they manage to break above the levels, a fresh upswing may begin. Secondly, the stochastic RSI has also reached below the lower threshold and could be preparing for a rebound, substantiating the bullish claim.
Therefore, Solana’s (SOL) price continues to remain within bullish influence and hence a bullish breakout above $175 may be expected at the beginning of the second half of 2024.
🚀 According to U.Today: $ADA Is In Catastrophic State
Cardano is probably in the worst shape we have seen this year. In its current state, ADA is moving below all key moving averages on midterm charts. Unfortunately, the key reasons behind such poor performance are multidimensional and go back to the fundamentals of Cardano.
The chart looks grim for ADA. The cryptocurrency has been seen exchanging under its 50-day, 100-day and 200-day EMAs. This implies a bearish trend. All of this underperformance contrasts sharply with the optimism surrounding Cardano earlier in the year. The inability to hold above these ever-important levels likely indicates that there is little buying interest and, therefore, confidence in ADA, in which maximum caution is necessary.
One of the primary reasons behind this decline is the high-level competition within the blockchain ecosystem. While Cardano has been making strides in setting up an ecosystem around the platform, it is, in particular, catching up with more popular ones, like Ethereum and Solana.
Cardano is probably in the worst shape we have seen this year. In its current state, ADA is moving below all key moving averages on midterm charts. Unfortunately, the key reasons behind such poor performance are multidimensional and go back to the fundamentals of Cardano.
The chart looks grim for ADA. The cryptocurrency has been seen exchanging under its 50-day, 100-day and 200-day EMAs. This implies a bearish trend. All of this underperformance contrasts sharply with the optimism surrounding Cardano earlier in the year. The inability to hold above these ever-important levels likely indicates that there is little buying interest and, therefore, confidence in ADA, in which maximum caution is necessary.
One of the primary reasons behind this decline is the high-level competition within the blockchain ecosystem. While Cardano has been making strides in setting up an ecosystem around the platform, it is, in particular, catching up with more popular ones, like Ethereum and Solana.
💵 According to BeinCrypto: $WIF Price Prediction: Awaiting Recovery
WIF’s price loss of the potential of closing above $4.00 was a major blow, as this would have enabled the meme coin to establish a fresh all-time high. However, this did not deter investors from remaining hopeful of recovery and continued rise.
The overall weighted sentiment of WIF holders is currently positive, the first positive instance in nearly two months. The last time WIF investors were optimistic regarding the meme coin was in early April when the altcoin charted an all-time high of $4.85.
The market also supports the potential rise, as is evident in the Average Directional Index (ADX). The Average Directional Index (ADX) measures the strength of a trend on a scale from 0 to 100, with values above 25 indicating a strong trend.
Given that the ADX is above the threshold of 25.0, the uptrend has some strength. This could grow going forward as long as WIF investors don’t opt to sell their holdings.
WIF price at $3.49 is still above the 50-day Exponential Moving Average (EMA). This is a crucial support line; a fall below it would hint at a potential price drawdown. But since investors and the market support a rise, WIF could close above the resistance at $3.62.
This close would enable a rise to $4.00 and beyond, and if the meme coin closes above $4.22, it could even form a new ATH.
But if the WIF price does not close above $3.62, it could witness a drawdown. This will not only invalidate the bullish thesis but also send the meme coin to $3.1 below the 500-day EMA.
WIF’s price loss of the potential of closing above $4.00 was a major blow, as this would have enabled the meme coin to establish a fresh all-time high. However, this did not deter investors from remaining hopeful of recovery and continued rise.
The overall weighted sentiment of WIF holders is currently positive, the first positive instance in nearly two months. The last time WIF investors were optimistic regarding the meme coin was in early April when the altcoin charted an all-time high of $4.85.
The market also supports the potential rise, as is evident in the Average Directional Index (ADX). The Average Directional Index (ADX) measures the strength of a trend on a scale from 0 to 100, with values above 25 indicating a strong trend.
Given that the ADX is above the threshold of 25.0, the uptrend has some strength. This could grow going forward as long as WIF investors don’t opt to sell their holdings.
WIF price at $3.49 is still above the 50-day Exponential Moving Average (EMA). This is a crucial support line; a fall below it would hint at a potential price drawdown. But since investors and the market support a rise, WIF could close above the resistance at $3.62.
This close would enable a rise to $4.00 and beyond, and if the meme coin closes above $4.22, it could even form a new ATH.
But if the WIF price does not close above $3.62, it could witness a drawdown. This will not only invalidate the bullish thesis but also send the meme coin to $3.1 below the 500-day EMA.
🔥 According to AMBCrypto: $NOT Price Prediction: Will Bulls Push Further?
NOT enjoyed strong buying pressure, as shown by the bullish reading of the RSI (Relative Strength Index) indicator (74).
Additionally, capital inflows surged in NOT markets from 28th May, as shown by the sharp climb above the average level of the Chaikin Money Flow (CMF) indicator.
Collectively, the readings paint a bullish momentum for NOT’s price. Additionally, the upswing above the 38.6% Fib level ($0.0095) flipped the market structure bullish in the lower timeframe, denoting further upside could be likely.
If so, NOT could tuck an extra 14% gain if it clears its recent higher high at $0.012 (0% Fib level) in the next few hours or days.
However, liquidity heatmaps showed that a short pullback towards the near 20-day EMA (exponential moving average) couldn’t be overruled.
Coinglass liquidation data showed that there were key liquidity clusters near $0.011 and $0.013 on the 24-hour chart.
Typically, market manipulation by market makers could tip a liquidity hunt for both levels, with the closest then the furthest from the current price level.
If so, NOT could hit $0.013 and ease slightly to $0.011 before attempting to clear the recent high. Such a slight pullback could act as a discounted buy for sidelined bulls as the derivatives market flashed bullish signal.
The massive surge in Open Interest (OI) further cemented a strong bullish sentiment for NOT in the derivatives markets. It shows more capital flowed into NOT’s market, suggesting that most participants expect further price rally.
NOT enjoyed strong buying pressure, as shown by the bullish reading of the RSI (Relative Strength Index) indicator (74).
Additionally, capital inflows surged in NOT markets from 28th May, as shown by the sharp climb above the average level of the Chaikin Money Flow (CMF) indicator.
Collectively, the readings paint a bullish momentum for NOT’s price. Additionally, the upswing above the 38.6% Fib level ($0.0095) flipped the market structure bullish in the lower timeframe, denoting further upside could be likely.
If so, NOT could tuck an extra 14% gain if it clears its recent higher high at $0.012 (0% Fib level) in the next few hours or days.
However, liquidity heatmaps showed that a short pullback towards the near 20-day EMA (exponential moving average) couldn’t be overruled.
Coinglass liquidation data showed that there were key liquidity clusters near $0.011 and $0.013 on the 24-hour chart.
Typically, market manipulation by market makers could tip a liquidity hunt for both levels, with the closest then the furthest from the current price level.
If so, NOT could hit $0.013 and ease slightly to $0.011 before attempting to clear the recent high. Such a slight pullback could act as a discounted buy for sidelined bulls as the derivatives market flashed bullish signal.
The massive surge in Open Interest (OI) further cemented a strong bullish sentiment for NOT in the derivatives markets. It shows more capital flowed into NOT’s market, suggesting that most participants expect further price rally.
Bridging the Gap: Understanding the Need for Cryptocurrency Education
Millennials turned out to be the most confident generation in their knowledge of cryptocurrencies. This became known from a recent market research conducted by Preply, a language course platform. Despite this, the survey showed that 60% of US residents do not understand blockchain technology.
Percentage Confident in Their Crypto Knowledge
The results of the Preply study revealed a gender gap, showing that men tend to feel more confident in their knowledge of cryptocurrency than women. However, while 46% of respondents expressed their confidence overall, a significant portion of crypto investors themselves (35%) had doubts about their understanding of cryptocurrencies, and 3 out of 5 (60%) did not know what blockchain was. This uncertainty was most prevalent among Generation Z investors, 40% of whom had doubts about their knowledge. The survey also revealed a significant awareness gap regarding NFTs and the meta-universe. Only 42% of respondents expressed confidence in their knowledge.
Despite this, users are still showing interest. 53% of non-crypto investors are interested in learning more — most of them are Generation X. Of these, 27% said they would like to take courses to learn more about cryptocurrencies. That’s why having easy-to-understand educational resources is important to sustain this demand.
Ensuring the Educational Aspect of the Industry
The development of the educational process is undoubtedly the basis for the development of the industry. With the popularization of digital assets, the need to maintain users’ knowledge is also growing. A few years ago, it was quite problematic to find educational resources to enrich one’s knowledge, but now this issue is no longer so acute. After all, numerous training courses have been developed, and their number is constantly increasing.
For example, the University of Applied Sciences of Business Administration Zurich has recently launched a Bitcoin education course for those planning to integrate cryptocurrency into new business models. In addition, there are already several universities in the world that offer relevant blockchain education programs: the University of Nicosia, Massachusetts Institute of Technology, Cambridge University, etc.
However, support for the educational aspect of the industry does not end with universities. There is also a significant number of educational resources for users of different levels of complexity: from beginners to advanced.
Among them are learning platforms from crypto exchanges OKX, Bitget, Binance, etc., the WhiteBIT educational program in partnership with FC Barcelona “Game-changing technologies: Mastering Blockchain”, and countless other courses such as LearnCrypto and Coursera.
Institutional Investors Enter Cryptocurrency
The interest in cryptocurrencies is growing, and this is demonstrated by other surveys. According to a KPMG study, institutional investors have become more interested in digital assets. One-third of the respondents have at least 10% of their portfolio in crypto assets, compared to only one-fifth of those surveyed two years ago.
KPMG also investigated the reasons for this increased interest. The majority (67%) cited market development as an important factor. 58% of respondents mentioned the high market performance of cryptocurrencies as a motivating factor for their investments. In recent years, the market performance of crypto assets has shown significant growth. Furthermore, the approval of spot Bitcoin ETFs in January also played a role in expanding institutional investor involvement.
In addition, the PitchBook report shows that in the first quarter of 2024, funding for crypto startups reached $2.4 billion. This means a 40% increase in invested capital compared to the last quarter of 2023.
“With positive investor sentiment returning to crypto and barring any major market downturns, we expect the volume and pace of investments to continue increasing throughout the year,” PitchBook analysts wrote in the report.
Summary
Although a large percentage of people are still unsure of their knowledge of cryptocurrencies, interest in them is potentially growing. This is especially true for non-crypto investors who are ready to gain more knowledge. Such moments emphasize the importance of accessible and high-quality educational resources to sustain interest and raise awareness. Therefore, various educational programs play an important role in the development of the cryptocurrency industry. Thus, the development of the educational process, combined with positive market trends, creates a favorable environment for the growth and spread of blockchain technologies.
$BTC
Percentage Confident in Their Crypto Knowledge
The results of the Preply study revealed a gender gap, showing that men tend to feel more confident in their knowledge of cryptocurrency than women. However, while 46% of respondents expressed their confidence overall, a significant portion of crypto investors themselves (35%) had doubts about their understanding of cryptocurrencies, and 3 out of 5 (60%) did not know what blockchain was. This uncertainty was most prevalent among Generation Z investors, 40% of whom had doubts about their knowledge. The survey also revealed a significant awareness gap regarding NFTs and the meta-universe. Only 42% of respondents expressed confidence in their knowledge.
Despite this, users are still showing interest. 53% of non-crypto investors are interested in learning more — most of them are Generation X. Of these, 27% said they would like to take courses to learn more about cryptocurrencies. That’s why having easy-to-understand educational resources is important to sustain this demand.
Ensuring the Educational Aspect of the Industry
The development of the educational process is undoubtedly the basis for the development of the industry. With the popularization of digital assets, the need to maintain users’ knowledge is also growing. A few years ago, it was quite problematic to find educational resources to enrich one’s knowledge, but now this issue is no longer so acute. After all, numerous training courses have been developed, and their number is constantly increasing.
For example, the University of Applied Sciences of Business Administration Zurich has recently launched a Bitcoin education course for those planning to integrate cryptocurrency into new business models. In addition, there are already several universities in the world that offer relevant blockchain education programs: the University of Nicosia, Massachusetts Institute of Technology, Cambridge University, etc.
However, support for the educational aspect of the industry does not end with universities. There is also a significant number of educational resources for users of different levels of complexity: from beginners to advanced.
Among them are learning platforms from crypto exchanges OKX, Bitget, Binance, etc., the WhiteBIT educational program in partnership with FC Barcelona “Game-changing technologies: Mastering Blockchain”, and countless other courses such as LearnCrypto and Coursera.
Institutional Investors Enter Cryptocurrency
The interest in cryptocurrencies is growing, and this is demonstrated by other surveys. According to a KPMG study, institutional investors have become more interested in digital assets. One-third of the respondents have at least 10% of their portfolio in crypto assets, compared to only one-fifth of those surveyed two years ago.
KPMG also investigated the reasons for this increased interest. The majority (67%) cited market development as an important factor. 58% of respondents mentioned the high market performance of cryptocurrencies as a motivating factor for their investments. In recent years, the market performance of crypto assets has shown significant growth. Furthermore, the approval of spot Bitcoin ETFs in January also played a role in expanding institutional investor involvement.
In addition, the PitchBook report shows that in the first quarter of 2024, funding for crypto startups reached $2.4 billion. This means a 40% increase in invested capital compared to the last quarter of 2023.
“With positive investor sentiment returning to crypto and barring any major market downturns, we expect the volume and pace of investments to continue increasing throughout the year,” PitchBook analysts wrote in the report.
Summary
Although a large percentage of people are still unsure of their knowledge of cryptocurrencies, interest in them is potentially growing. This is especially true for non-crypto investors who are ready to gain more knowledge. Such moments emphasize the importance of accessible and high-quality educational resources to sustain interest and raise awareness. Therefore, various educational programs play an important role in the development of the cryptocurrency industry. Thus, the development of the educational process, combined with positive market trends, creates a favorable environment for the growth and spread of blockchain technologies.
$BTC
👀 According to BeinCrypto: $FET Price Prediction
Fetch.ai’s price could see bearish momentum build as its investors are making bearish moves at the moment. The first sign of this is visible in the asset’s network growth, which refers to the formation of new addresses on the network.
This is essential in ascertaining whether the project is gaining or losing traction in the market. In the case of FET, network growth has dropped to a seven-month low, suggesting that investors do not see much incentive to transact on the network.
Furthermore, the Market Value to Realized Value (MVRV) ratio also supports a bearish outcome. The MVRV ratio assesses investor profit or loss. Fetch.ai’s 30-day MVRV sits at 12%, signaling profit, potentially prompting selling.
Historically, FET corrections occur within the 7% to 30% MVRV range, which is labeled a risk zone. Thus, Fetch.ai’s price could draw a drawdown if investors opt to book profits.
Fetch.ai’s price, $2.24, is hovering just above support at $2.22. This price point has also been tested as resistance in the past, and sustaining a move above it is key to ensuring a breach of $2.49.
This price level has been breached a few times in the past two months, but the Fetch.ai price has been unsuccessful in closing above it. Given the aforementioned factors, FET could dip to lows of $1.95.
But if the altcoin does manage to bounce back and flip the resistance of $2.49, it could head towards $2.85. This would also invalidate the bearish thesis Fetch.ai’s price is witnessing.
Fetch.ai’s price could see bearish momentum build as its investors are making bearish moves at the moment. The first sign of this is visible in the asset’s network growth, which refers to the formation of new addresses on the network.
This is essential in ascertaining whether the project is gaining or losing traction in the market. In the case of FET, network growth has dropped to a seven-month low, suggesting that investors do not see much incentive to transact on the network.
Furthermore, the Market Value to Realized Value (MVRV) ratio also supports a bearish outcome. The MVRV ratio assesses investor profit or loss. Fetch.ai’s 30-day MVRV sits at 12%, signaling profit, potentially prompting selling.
Historically, FET corrections occur within the 7% to 30% MVRV range, which is labeled a risk zone. Thus, Fetch.ai’s price could draw a drawdown if investors opt to book profits.
Fetch.ai’s price, $2.24, is hovering just above support at $2.22. This price point has also been tested as resistance in the past, and sustaining a move above it is key to ensuring a breach of $2.49.
This price level has been breached a few times in the past two months, but the Fetch.ai price has been unsuccessful in closing above it. Given the aforementioned factors, FET could dip to lows of $1.95.
But if the altcoin does manage to bounce back and flip the resistance of $2.49, it could head towards $2.85. This would also invalidate the bearish thesis Fetch.ai’s price is witnessing.
🚀 According to AMBCrypto: $SOL Volume Shows Growth
AMBCrypto’s examination of Solana’s volume on DefiLlama revealed a significant pickup in volume over the past few months. Compared to previous years, the network has experienced considerable volume.
This is indicative of increased activity this year.
In March, the volume surged to over $3 billion before gradually declining but maintaining levels around the $1 billion mark. As of this writing, the volume was almost $1.5 billion.
The notable increase in transaction volume may not be surprising given the recent proliferation of meme coins launched on the network.
AMBCrypto’s analysis of Solana’s price trend showed that it had experienced downtrends in recent days. On the 27th of May, it recorded a gain of 4.15%, pushing its price to approximately $170.
However, despite this gain, SOL has struggled to recover from previous declines. The analysis also highlighted the $180 zone as a resistance level.
As of this writing, SOL was trading at around $168, showing a negligible gain from the previous trading session.
AMBCrypto’s examination of Solana’s volume on DefiLlama revealed a significant pickup in volume over the past few months. Compared to previous years, the network has experienced considerable volume.
This is indicative of increased activity this year.
In March, the volume surged to over $3 billion before gradually declining but maintaining levels around the $1 billion mark. As of this writing, the volume was almost $1.5 billion.
The notable increase in transaction volume may not be surprising given the recent proliferation of meme coins launched on the network.
AMBCrypto’s analysis of Solana’s price trend showed that it had experienced downtrends in recent days. On the 27th of May, it recorded a gain of 4.15%, pushing its price to approximately $170.
However, despite this gain, SOL has struggled to recover from previous declines. The analysis also highlighted the $180 zone as a resistance level.
As of this writing, SOL was trading at around $168, showing a negligible gain from the previous trading session.
🔥According to U.Today: $SHIB Surprises Everyone
Shiba Inu has clearly caught most investors off-guard. The meme token broke through the $0.000025 psychological threshold, bounced off the 50 EMA in an explosive manner and is currently eyeing $0.00003.
This sudden surge raises a compelling question: can SHIB maintain its momentum and hit $0.00003? The recent breakout over the resistance at $0.000025 occurred with huge volume, indicating the interest of buyers. The level is both psychological and a technical resistance that SHIB has grappled with in the past. Therefore, crossing above it implies a change in market sentiment and possible further upward moves.
The 50-day EMA is a sign that is heavily in favor of SHIB. Recently, the token has pulled up from the support at this moving average, with a new determination to show the 50 EMA as a strong indicator of bullish sentiment.
A move to test $0.00003, however, comes with some bullish flashes. The successively higher lows and higher highs show that the stock is on an upward trajectory.
The volume spike that comes at the same time of the breakout puts a sting into the case for a bullish run. As such, if the buying pressure persists, the upside target price of $0.00003 can easily come into the picture with SHIB above the 50 EMA. However, possible hurdles cannot be ruled out. The $0.000028 area could play as the temporary resistance. If SHIB consolidates in this area and does some base-building, the case for a further move to $0.00003 would be even stronger.
Another aspect to keep an eye on is, of course, the RSI. It sits near the overbought status. If it moves above this, we may see some short-term selling followed by one more leg upwards.
Shiba Inu has clearly caught most investors off-guard. The meme token broke through the $0.000025 psychological threshold, bounced off the 50 EMA in an explosive manner and is currently eyeing $0.00003.
This sudden surge raises a compelling question: can SHIB maintain its momentum and hit $0.00003? The recent breakout over the resistance at $0.000025 occurred with huge volume, indicating the interest of buyers. The level is both psychological and a technical resistance that SHIB has grappled with in the past. Therefore, crossing above it implies a change in market sentiment and possible further upward moves.
The 50-day EMA is a sign that is heavily in favor of SHIB. Recently, the token has pulled up from the support at this moving average, with a new determination to show the 50 EMA as a strong indicator of bullish sentiment.
A move to test $0.00003, however, comes with some bullish flashes. The successively higher lows and higher highs show that the stock is on an upward trajectory.
The volume spike that comes at the same time of the breakout puts a sting into the case for a bullish run. As such, if the buying pressure persists, the upside target price of $0.00003 can easily come into the picture with SHIB above the 50 EMA. However, possible hurdles cannot be ruled out. The $0.000028 area could play as the temporary resistance. If SHIB consolidates in this area and does some base-building, the case for a further move to $0.00003 would be even stronger.
Another aspect to keep an eye on is, of course, the RSI. It sits near the overbought status. If it moves above this, we may see some short-term selling followed by one more leg upwards.
💥 According to U.Today: $XRP s struggle
XRP's path on the market was full of questionable moves and problematic situations. Unfortunately, things are not changing that much as the cryptocurrency stays below numerous resistances, the price shows sideways movement since the beginning of 2024 and the general outlook for the asset looks gloomy. Let's break down why that is.
The story on the XRP chart has been one of consistent struggle. Every attempt at rallying thus far has failed to break above the several important moving averages, and prices have been forced not to bulk up. The existence of the 50-day EMA, the 100-day EMA and the 200-day EMA, all acting as big hurdles in the way of an important movement toward the upside, has made it difficult.
This confluence of resistance levels makes it difficult for XRP to take off with momentum. Another element is that volume trends, which portray a worrying picture, continue to decrease, symbolizing an absence of sufficiently strong buying interest. The higher the volume, the harder it becomes to break out of these tough resistance levels.
Currently, the RSI is hovering in the middle of the 50s and is mostly indicative of the indecision on the market and the lack of a well-defined trend. XRP has to fight to eventually break out and, thereafter, move on to a positive trajectory. This includes a strong and clear move above the 200-day EMA, riding a big volume surge that validates the move.
XRP's path on the market was full of questionable moves and problematic situations. Unfortunately, things are not changing that much as the cryptocurrency stays below numerous resistances, the price shows sideways movement since the beginning of 2024 and the general outlook for the asset looks gloomy. Let's break down why that is.
The story on the XRP chart has been one of consistent struggle. Every attempt at rallying thus far has failed to break above the several important moving averages, and prices have been forced not to bulk up. The existence of the 50-day EMA, the 100-day EMA and the 200-day EMA, all acting as big hurdles in the way of an important movement toward the upside, has made it difficult.
This confluence of resistance levels makes it difficult for XRP to take off with momentum. Another element is that volume trends, which portray a worrying picture, continue to decrease, symbolizing an absence of sufficiently strong buying interest. The higher the volume, the harder it becomes to break out of these tough resistance levels.
Currently, the RSI is hovering in the middle of the 50s and is mostly indicative of the indecision on the market and the lack of a well-defined trend. XRP has to fight to eventually break out and, thereafter, move on to a positive trajectory. This includes a strong and clear move above the 200-day EMA, riding a big volume surge that validates the move.
