Will Solana see extreme bullish reversal?

Solana (SOL) has been in a downward spiral over the past week. Since reaching a new all-time high of $264.63 on November 22, SOL has encountered a surge in selling pressure. This has caused its price to drop by almost 10% in the past seven days.

This decline has led to an uptick in long liquidations in the SOL futures market. With strengthening bearish sentiments, Solana long traders may face more losses. Here is why. 

Over the past week, SOL’s 8% price drop has wiped out $64 million in long positions from its derivatives market. 

This is a bearish signal for SOL because as Solana long traders attempt to avoid further losses to their investments, their selling pressure can increase and contribute to further downward movement in the market.

Notably, the decline in SOL’s price has led to a significant drop in activity in its derivatives market. This is reflected in the coin’s open interest, which currently rests at a weekly low of $3.34 billion. 

Solana’s Awesome Oscillator confirms the uptick in bearish bias toward the coin. As SOL’s price records a decline over the past week, the indicator has returned red histogram bars. 

If selling activity gains more momentum, SOL’s price will break below the crucial support level, formed at $231.54. A dip below this price point will send SOL’s price downward to $205.56. 

On the other hand, if buying pressure gains momentum, SOL’s price will climb toward its all-time high of $264.63.

#MarketBuyOrHold? #sol $SOL

Ripple could hit its highest price in 6 years

XRP's RSI currently sits at 72. This indicates a renewal of bullish momentum.

Ripple CMF is currently at 0.05, down from 0.10 when its price peaked at $1.63 a week ago, reflecting reduced capital inflows.

At 0.05, XRP’s CMF indicates slight bullish sentiment.

EMA lines remain bullish, with short-term lines positioned above long-term ones, signaling an ongoing uptrend. However, the narrowing gap between the lines suggests weakening bullish momentum, indicating a possible trend reversal.

If buying pressure strengthens and a new uptrend forms, XRP price could retest its recent high of $1.63. Breaking this level could push the price to $1.70, marking its highest value since 2018.

#MarketBuyOrHold? #Xrp🔥🔥 $XRP

Can XLM hit $1 this year? Let's find out!

The Stellar price has recorded a strong bullish recovery around its $0.43 mark. By hovering close to that psychological barrier since the week started, this altcoin has formed a resistance/support level around the price range. This further makes it a crucial watch level.

Specifically, with an intraday surge of over 14% with a trading volume of $4.233 billion, the Stellar price has reclaimed the $0.50 mark. Moreover, with the recent bullish candle, this altcoin has formed a flag pattern in the 1D time frame, suggesting a significant increase in the price action.

The Relative Strength Index (RSI) continues hovering above the overbought range in the daily time frame. This highlights an increase in the buying-over-selling pressure for the altcoin in the crypto market.

Further, the EMA 50/200-day has displayed a constant uptrend after experiencing a Golden Cross earlier this month. This suggests that the altcoin may continue gaining value in the upcoming time.

If the bullish sentiment sustains, the XLM coin price will breach its important resistance level of $0.50 and head toward its upper high of $0.60. Maintaining the price above that level could set the stage for this altcoin to retest its upper high of $0.70.

Conversely, if the bears outrun the bulls, the Stellar token will retest its support trendline of the flag pattern. Furthermore, if the bears dominate the crypto space, this could result in it plunging toward its lower support level of $0.40.

#MarketBuyOrHold? #Stellar $XLM

Solana faces $6 billion short bet as price drops 12% from peak

Solana (SOL) has faced increased selling pressure since it climbed to an all-time high of $264.63 on November 24. Exchanging hands at $232.72 at press time, the coin’s value has since dropped by 12%.

With waning bullish sentiment in the broader cryptocurrency market, this downward trend has prompted a surge in short positions, with traders betting on a further SOL price drop.

According to Coinglass, over the past 24 hours, the total value of Solana short positions has reached $6 billion, significantly outpacing long positions at $5.38 billion. This indicates a strong bearish sentiment among traders.

On the daily chart, SOL’s price is poised to break below its 20-day Exponential Moving Average (EMA). This indicator tracks the asset’s average price over 20 days, giving more weight to recent prices. 

Since October 11, it has consistently served as a dynamic support level for SOL. Currently, the 20-day EMA provides support at $226.52, and a decisive break below this level would confirm the shift toward bearish momentum. If this happens, the SOL price drop may reach $205.56.

On the other hand, if market sentiment becomes more bullish, SOL’s price may rally toward its all-time high of $264.63.

#MarketBuyOrHold? #solonapumping $SOL

XRP down as traders cash out. Brief analysis

XRP has witnessed a surge in selling activity since it climbed to a three-year high of $1.63 on November 23. Currently trading at $1.41, the altcoin has since noted a 13% price dip.

According to Santiment’s data, over the past seven days, XRP’s realized profits have totaled $1.84 billion, the highest since April 2021.

XRP currently trades at $1.41, above support formed at $1.33. Sustained profit-taking activity by token holders will pull XRP’s price to test this support level. If it fails to hold, the downward trend strengthens, and the XRP price dip may extend to $1.28.

On the other hand, this bearish projection will be invalidated if buying activity resumes. This may push XRP’s price toward revisiting its three-year high of $1.63.

#XRPMarketShift #MarketBuyOrHold? $XRP

Notcoin (NOT) rally targets new ATH with $0.010 breakout – analysis by CoinPedia

Over the past 24 hours, Notcoin (NOT) has increased by 4.85% and is currently trading at $0.0088. 

With the recovery rally in action, Toncoin and its high-ranking performer, Notcoin, are likely to make a bullish comeback.

With a market cap of $905.97 million, the 24-hour trading volume of Notcoin stands at $938 million. This results in a volume-to-market cap ratio of 102.81%, reflecting massive liquidity in the market.

In the daily chart, the Notcoin price action shows a falling-wedge breakout rally, gaining momentum. The pattern breakout rally has surpassed the 23.60% Fibonacci level at $0.0077 with a post-test reversal. 

The reversal rally peaked at the $0.010 psychological mark but failed to sustain the rally. Over the past 24 hours, the altcoin has increased by 30% to create two consecutive bullish candles. 

However, the intraday pullback of 6% reveals the massive overhead supply, followed by overnight rejection at the psychological mark. The bulls struggle to surpass the 38.20% Fibonacci level and the $0.0010 supply zone. 

Based upon price analysis, the $0.10 breakout rally must sustain dominance above the 50% Fibonacci level at $0.001. This will increase the credibility of a bullish run ahead. 

#NotPriceSurge $NOT

XRP at the crossroads: How bulls are sparking FOMO to hit $2 next – perspective by AMBCrypto

Certainly, after three years of a steady downtrend, XRP’s resurgence sparked renewed FOMO in the market. On the day XRP hit $1, active accounts on the XRP ledger surged to a yearly high of around 48K. However, within just a week, that number has dropped to 30K, reflecting a 37.5% decline.

These abrupt exits have disrupted the momentum needed to break the $2 barrier, leading to a more than 2% decline after it crossed the halfway point two days ago, with XRP currently priced at $1.46 (at the time of writing).

However, if the bulls lose confidence in XRP’s long-term potential, a pullback to around $1 could form a local bottom, offering an attractive entry point for new traders looking to capitalize on a rebound.

This places Ripple at a crossroads, where the next move will define whether the momentum will build toward $2 or retrace to new entry points around $1.

The coming days will likely show which side takes control in this tug-of-war. However, the bulls’ drive to keep XRP from falling after so many challenges gives them a strong psychological edge.

With continued confidence, the likelihood of breaking $2 grows, as bulls work to reignite FOMO in the market.

#GODINDataForAI #Xrp🔥🔥 $XRP

Solana may be set for the recovery. Here's why:

Data from Coinglass reveals that Solana’s Long/Short ratio on the 1-hour timeframe has climbed to 1.17. A ratio above 1 suggests a higher number of traders betting on a price increase compared to those anticipating a decline.

Currently, 54% of Solana traders hold long positions, while 46.17% expect a drop below $255.

On the weekly chart, Solana’s price has surged above the 20 and 50 Exponential Moving Averages (EMAs), key indicators that measure trends. 

With SOL currently priced at $255, above both EMAs, the altcoin seems poised to continue its upward direction. The formation of a bull flag further supports this bullish outlook.

As long as the price remains above the upper trendline of the consolidation phase, it could rise toward $325. However, if selling pressure takes hold, this bullish scenario could shift. In that case, SOL might fall below $200.

#GODINDataForAI #Solana_Blockchain $SOL

Stellar (XLM) up 69%, ATH draws closer – analysis

Stellar (XLM) has been steadily gaining momentum in recent days, currently trading at $0.52 — a 127% increase over the past week.

XLM is currently trading just below a key resistance level at $0.58. Breaking through this critical price point could pave the way for a surge to $0.71. Sustained buying momentum at this level may position XLM to reclaim its all-time high of $0.91.

Furthermore, readings from its Average Directional Index (ADX) confirm this bullish outlook. As of this writing, XLM’s ADX is in an upward trend at 68.945.

Also, XLM’s rising open interest indicates heightened market activity and confirms strong investor confidence. On Saturday, the token’s open interest climbed to an all-time high of $291 million. 

However, if buyer exhaustion sets in, XLM’s price will fall toward support at $0.47, invalidating this bullish outlook.

#GODINDataForAI #Stellar $XLM

🚀PEPE may be poised for a new ATH. Here's why

Following the channel breakout rally in PEPE price creating an ATH in November, the meme coin shows a post-retest rally. As the bull run restarts in PEPE, bulls anticipate the rally to create a new ATH next week.

In the daily chart of PEPE, the meme coin shows a bullish recovery, regaining momentum. The ongoing recovery trend started near the $0.000075 with a Morning Star pattern. 

This rally peaked at nearly 200%, nearly $0.000025. However, the falling channel breakout rally took a quick retest of the previous all-time high near the $0.000017223. 

The 10% surge last night, creating a bullish engulfing candle, ended the five-day consecutive red-candle streak. It also marked the post-retest bounce back for the meme coin. 

Currently, the bull run is extended with an intraday gain of 2.79% as the PEPE price trades at $0.00002126. 

Using the trend-based Fibonacci levels, the uptrend is approaching the 23.60% Fibonacci level at $0.00002303. Considering that the recovery run of the broader market will be prolonged, the PEPE price bull run is likely to reach $0.00002989 by the end of November. 

Hence, the PEPE price will explode with a massive upside of 40% in the next week. On the flip side, the $0.00001879 will likely provide bullish support. 

#AltcoinNextMove #pepe⚡ $PEPE

🔥SUI maintains $3 after two-hour outage

Yesterday, the Layer-1 blockchain Sui experienced a two-hour blackout, halting block production and rendering transaction processing impossible. This network outage led to a slight dip in SUI’s price, falling from $3.73 to $3.64.

Around 10:52 UTC, web3 security firm ExVull disclosed that a DOS bug caused the Sui network outage. Fully known as a Denial-of-Service (DoS) attack, the bug” refers to a software attack that overwhelms a system with excessive traffic or requests, causing it to become unavailable to legitimate users by crashing or severely slowing its functionality.

Following this development, several exchanges halted SUI transactions as the price also dipped a little. However, nearly two hours later, the project updated its community, saying that validators had assisted in resolving the issue.

Consequently, on a daily chart, SUI continues to trade within an ascending channel. An ascending channel, also called a rising channel or channel up, is a chart pattern defined by two parallel upward-sloping lines. 

It forms when the price shows higher swing highs and higher swing lows, indicating an ongoing uptrend. Furthermore, the Chaikin Money Flow (CMF) has increased, suggesting that buying pressure has outpaced distribution.

If this continues, SUI’s price could climb above $4. However, if a Sui network outage occurs again, this might not happen. In that scenario, the value could drop below $3.

#SUI🔥 $SUI

🚀SOLANA HITS NEW ATH: $264. Is $300 the next target?

As Bitcoin surpasses the $99,000 mark, with a new all-time high of $99,314, Solana shares the momentum to hit a new ATH. With a 10% surge in the last 24 hours, the bull run in SOL price powers tailwinds for other altcoins. 

In the weekly chart, the SOL price action showcases a descending triangle breakout rally, completing a cup and handle pattern. This pattern breakout with the neckline at the $249 mark has resulted in a new all-time high for Solana. 

Currently, it is trading at $257, with a 24-hour high of $264. As the bullish trend continues, SOL price action is on the verge of completing the third consecutive bullish week. 

As Solana is trading at uncharted levels, the underlying bullish momentum is teasing an uptrend continuation. Furthermore, with the broader market recovery at play and Bitcoin inching closer to the $100,000 mark, Solana is likely to hit the $300 mark. 

What is more, MACD is also showing a strong bullish reading via positive crossover and a spike of bullish histograms.

Based on the Fibonacci levels, the upside price target for Solana is at $602.92. This price coincides with the 1.272 Fibonacci level on the logarithmic chart and makes $300 a potentially easy target.

On the flip side, a retest of the $250 breakout is possible if the buying pressure recedes. 

#SOLHitsATH $SOL

What is holding Cardano (ADA) from $1? – BeInCrypto analytics extract

Cardano (ADA) price has surged 41.89% in the last seven days, signaling strong bullish momentum in the market. The uptrend remains strong, supported by key technical indicators like the ADX, which point to sustained positive sentiment.

Specifically, Cardano DMI chart shows an ADX of 46, indicating a strong trend. The metric has remained above 40 since November 7. This high ADX value confirms the robustness of ADA ongoing uptrend, signaling solid momentum behind the recent price movements.

With the positive directional index (D+) at 28.6 and the negative directional index (D-) at 7, bullish pressure continues to outweigh bearish activity, further supporting the upward trajectory.

If Cardano (ADA) maintains its strong uptrend, it could test the resistance at $0.85. Breaking this level could pave the way for further gains, with the potential to reach the $1 threshold, marking a 20% rise from current levels and the highest price for Cardano since April 2022.

However, if bearish momentum takes over, ADA price could face significant downward pressure, potentially dropping to $0.51.

If this support fails, the price could decline further to $0.32, representing a steep 59% correction. This highlights the importance of the current support and resistance levels in determining ADA’s next direction.

#CardanoPricePrediction #ADABullish $ADA

XRP Launches a Bullish Attack as Gensler Steps Down as SEC’s Chair 

In a recent update, SEC Chair Gary Gensler, who was pretty stringent on the crypto community, is all set to step down from his position. The president-elect, Donald Trump, in his election campaign had assured to remove him. Still, this move ahead of the induction of the new government is expected to kick-start a fresh upswing within the crypto markets. Soon after this, the Bitcoin price broke out of the range and is about to achieve the milestone; meanwhile, the XRP price launched a 25% rise to secure levels above $1.3. 

The historical pattern suggests the XRP price is trying to follow the previous run, which triggered a massive rally towards the ATH. Presently, the price has broken out from a similar decisive triangle and if it replicates the previous one, then the token may face a small pullback before triggering the next price action. However, the changed market sentiments are expected to revive a strong ascending trend towards the new ATH, probably forming a double-digit figure. 

Meanwhile, the volume remains the major constraint. Previously in 2018, there were a bunch of cryptos for the traders to invest in. However, with the emergence of memecoins, AI tokens, DeFi tokens, etc., the XRP price may not alone attract massive liquidity. Therefore, the bull run may certainly not replicate the previous one, but the XRP price remains primed to form a new ATH close to $5, probably in 2025. 

#GaryGenslerResignation #Xrp🔥🔥 $XRP

Shiba Inu price rally stalls at $0.0000030 as DOGE advances to 3-year peaks

Despite booking sizeable monthly timeframe gains, Shiba Inu’s price performance has lagged behind its rival memecoins including Dogecoin, PEPE and Solana-hosted BONK.

Dogecoin price was mainly driven by Trump’s confirmation of Elon Musk’s involvement in the incoming administration, the likes of PEPE and BONK have also lifted be recent listings on major exchanges including Robinhood and Coinbase.

SHIB has now stagnated around the $0.000025 level. On-chain data trends suggest this consolidation phase is at risk of further retracement. Since Shiba Inu price retraced from the monthly timeframe peak of $0.000030 on November 13, whale investors have dialed down demand considerably.

However, the $700 million decline in whale demand now puts SHIB at risk of further downswings.

In terms of short-term price projection, SHIB technical indicators are also signaling a potential pull-back towards $0.000023.

The Donchian Channels, calculated using the 20-day high and low, illustrate a tightening price range. SHIB’s price is currently hovering near the lower boundary of the channel, around $0.00002326. This suggests weakening bullish momentum as sellers test the lower end of this critical range.

A close below $0.000023 could trigger additional sell-offs, exposing SHIB to a retest of its next support at $0.000020, which aligns with the lower Donchian threshold from early November.

Given the weakening whale demand and bearish technical signals, Shiba Inu appears poised to test the $0.000022 support level in the coming days. If sellers breach this zone, SHIB risks falling further toward $0.000016, a key support level last tested in October.

#shiba⚡ $SHIB

BONK crypto pumps 90% – Will the 1 trillion token burn fuel further gains?

The Solana (SOL)-based memecoin BONK rallied 100% in the past seven days, driven by an overall market pump and a massive deflationary plan to burn 1 trillion tokens. 

On 15th November, Bonk DAO announced the deflationary plans with the 2024 Christmas deadline. 

Immediately after the news, BONK pumped 27% and added on its weekly gains, which crossed 100% amid an extra weekend pump. For context, burning tokens reduces supply and ultimately boosts the value of the remaining assets. 

The extra pump on Sunday eyed the immediate bullish target of $0.000057 on the Fib tool. If the uptrend extended, the next target would be $0.000067, offering an extra 40% potential gains.

 
But BONK grabbing the extra gains could only be feasible if the mememcoin stayed above its previous ATH. 

That said, technical indicators showed massive buying interest but an overheated market scenario. The Stochastic RSI was in oversold territory, while the OBV (On Balance Volume) reached new highs. 

Interestingly, leveraged bulls also FOMO’ed on the BONK’s rally. The OI (open interest) rates surged 3X, from about $50M to over $150M in just days. This suggested that leveraged players took massive debts to place bullish bets on BONK. 

Market pundits expect the BONK rally to extend, partly due to the expected 1T token burn. However, the broader market sentiment could determine the next price direction for the memecoin.

#BONKBURNmas $BONK

Solana OI nears $5 million. Is new ATH on a horizon?

Solana’s price rally has brought it close to forming a new all-time high, stirring optimism among traders and investors. The altcoin’s upward momentum reflects heightened market activity, but challenges remain as Solana struggles to breach critical resistance levels. 

Solana traders exhibit strong optimism, with the asset’s Futures Open Interest (OI) reaching a record $4.7 billion. This surge highlights increasing confidence among traders as they pour significant capital into SOL amid its ongoing rally. With OI nearing $5 billion, Solana is experiencing a notable rise in market participation, reflecting heightened anticipation for further gains.

However, this growing OI highlights a divergence between expectations and current price movement. While traders are heavily investing, Solana’s price has yet to break past critical resistance levels. This contrast between open interest and price action raises questions about whether the bullish momentum can sustain itself or lead to a correction.

From a technical perspective, Solana’s Relative Strength Index (RSI) indicates overbought conditions, sitting well above the neutral range. Also, Solana’s macro momentum remains strong, driven by broader market cues and increased adoption. These factors contribute to the asset’s resilience, but the overbought conditions warrant caution. Investors will need to monitor whether Solana can maintain its upward trajectory or succumb to market pressures.

However, mixed signals from market sentiment and technical indicators suggest potential difficulties in overcoming $245. A failure to break through could send Solana down to $221 or lower, testing investor confidence. 

#SOLMarketMove $SOL

Solana’s Uptrend Strengthens, But Investors’ Moves Raise Doubts

Solana (SOL) price has seen a remarkable 40% surge in recent weeks, climbing to $210. Despite this bullish uptrend, SOL is encountering challenges at the $221 resistance level, which could signal a potential reversal. 

Investor activity on the Solana network suggests the momentum might face hurdles in sustaining further gains.  

Transaction activity on the Solana network has increased significantly during the recent price rally. The network recently hit a yearly high in transaction count, highlighting growing interest among participants. However, this increase falls short of expectations, given the current hype surrounding Solana ETFs and broader market bullishness.  

This moderate network activity raises concerns about the sustainability of the rally. If Solana fails to attract more significant user engagement, its price momentum might falter, especially as broader market cues begin to stabilize.  

Solana’s macro momentum remains strong, supported by technical indicators. The Average Directional Index (ADX) is at 32, well above the 25.0 threshold, confirming a strong uptrend. 

Solana is currently trading at $210, holding steady above its support level of $201. Despite the recent rally, the “Ethereum killer” is struggling to break past the $221 resistance level, which remains a significant barrier to reaching $245.  

The mixed sentiment indicates that SOL may consolidate between $201 and $221 until a clearer directional trend emerges. This range-bound movement could dominate the short-term outlook unless broader market conditions shift dramatically.  

However, if investors opt for profit-taking, Solana could see a decline below the $201 support level. Such a drawdown would invalidate the current bullish-neutral outlook, potentially sending SOL to $186, marking a significant setback for the altcoin’s rally.  

#MemecoinWars #sol

$SOL