The V-shaped recovery of AI tokens comes amid a rebound in the cryptocurrency market.
As the cryptocurrency market strives to regain its $2 trillion valuation, demand for altcoins has picked up. After a few days of bearish action, AI Token has staged a V-shaped recovery.
As the likelihood of altcoins uptrend increases, the opportunity to buy AI Tokens also increases. So, let’s take a closer look at the resurgence AI Tokens that you can buy on the crypto market rebound. Best Recoverig AI Token to Buy: NEAR Protocol (NEAR) Despite the downtrend on the 4H chart, the bullish dominance of the $3.29 support level brought about a V-shaped reversal. The rebound in the price of NEAR token increased by 12% and aimed to challenge the upper trendline.
Why did the Nikkei and cryptocurrency markets suddenly surge? What happened?
Markets are going wild! Japanese stocks surged more than 11% after falling 12% on Monday. The Nikkei 225 rebounded sharply, reflecting the turbulent state of global markets. Japanese stocks rebound The Nikkei 225 stock index rose 10.23%, or 3,217 points, its biggest one-day gain, a day after a sharp 12% drop as the Bank of Japan's second rate hike in 17 years strengthened the yen against the dollar, making Japanese stocks and exports more expensive for foreign investors. Affected by concerns about the slowdown in the US economy, US, British and European stock markets all fell on Monday. Globalization has not only affected the stock market, but also crypto assets, and signs of market instability have become prominent.
India's DGGI issues GST penalty notice to Binance for Rs 722 crore ($86.88 million)
The Directorate General of Goods and Services Tax Intelligence (DGGI) of India has issued a show-cause notice to Binance, demanding it to pay a penalty of up to Rs 722 crore ($86.88 million) under GST regulations. The notice states that Binance, a globally renowned cryptocurrency exchange, charged at least Rs 4,000 crore in trading fees to its Indian users without being registered under the Indian GST framework. Rs 722 crore allegation against Binance Binance, a dominant player in the global cryptocurrency market with at least 40% market share and operations in more than 150 countries, has come under scrutiny from Indian tax authorities for failing to register under India’s GST framework.
XRP News: Ripple launches RLUSD stablecoin website, sparking speculation in the XRP community about a possible end to the ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC). Some see the move as a sign that Ripple’s legal battle with the SEC is coming to an end. However, prominent figures in the crypto space are advising caution, suggesting new lawsuits could be on the horizon. Ripple to face another SEC lawsuit? When a crypto influencer questioned the impact of RLUSD in the ongoing Ripple SEC lawsuit, attorney Fred Rispoli offered his thoughts. Rispoli, a staunch XRP supporter, recently commented on the potential impact of the RLUSD website going live. He stated, “Any questions from the SEC regarding $RLUSD are for another lawsuit and cannot be directed into one that is about to end!”
With BTC price dropping to $50,000 and $1 billion lost, will it drop to $45,000?
As global markets fall, a bear market has begun to appear in the world's financial markets. Against the backdrop of the index plunge, the cryptocurrency market has suffered a heavy blow, with BTC prices falling to the $50,000 support level and Ethereum falling to $2,250. As selling pressure shakes leveraged bullish positions, long liquidation data has soared. In addition, more and more FUD warns that the bearish trend will continue this week. Will this week's bear market lead to a sharp drop in Bitcoin to $45,000, or is there a possibility of a rebound? Bitcoin price performance Under the dominance of bears, BTC price has suffered huge market valuation losses and is down nearly 15% today. Currently, Bitcoin is trading at $50,103 and has broken below a key support trendline to form a bearish engulfing candle.
Today’s Crypto News: Nomad Bridge hacker attack causes ETH price to plummet!
The hackers who attacked Nomad Bridge found themselves in a favorable position as they could easily buy Ethereum ($ETH) at the lowest market price. According to Lookonchain, the hacker invested 39.75 million DAI to buy 16,892 ETH and sent it to the cryptocurrency mixer Tornado Cash, which was seen as a large-scale operation.
Nomad Bridge Vulnerability In August 2022, the digital asset bridge Nomad Bridge, which supports cross-chain transactions of assets, was attacked and lost nearly $200 million. The attack was due to a weakness in the bridge’s smart contract that allowed unauthorized withdrawal of funds.
CryptoQuant predicts Bitcoin price will fall below $40,000
Bitcoin and the broader cryptocurrency market have seen panic selling recently, influenced by the Bank of Japan’s decision to increase interest rates from 0% to 0.25% and growing fears of a U.S. recession. This caused the price of Bitcoin (BTC) to drop to $49,112, but it has since recovered slightly to $52,982, a drop of nearly 16%.
Meanwhile, CryptoQuant, a leading on-chain data and analytics provider, warned that Bitcoin could fall further, possibly to $40,000. Bitcoin (BTC) Price Drops Below $40,000 Bitcoin (BTC) has experienced a massive drop, falling more than 16% in the past 24 hours, breaking below the critical $57,000 support level. This sudden drop has alarmed the cryptocurrency community, with experts now predicting a possible drop to $40,000.
Analyst Says ‘New Highs to Come in September/October’: Explaining the Possibility of BTC Price Reaching $80,000 in 2024
Bitcoin price is consolidating after a sharp correction, attempting to reclaim above $70,000. The selling pressure on the coin has intensified in anticipation of a death cross as it forms a bottom for the second consecutive day. The long wicks formed at the bottom of the candle suggest that the bears are slowly conquering the BTC price rally with an intention to move into the lower support zone between $61,500 and $60,500 in a short time.
Despite the bearish sentiment dominating the rally, the bulls seem to have a strong grip on the coin. As mentioned above, the price seems to be approaching the lower support area, which is expected to reverse the BTC price rebound. These levels are considered as one of the important support levels, so if the bulls hold these levels, then the BTC price may make new highs in September or October, as predicted by the famous analyst Micheal van de Poppe.
Is Ethereum turning bearish? Here’s what the charts show
Amid the ongoing bearish market sentiment, the world’s second-largest cryptocurrency Ethereum (ETH) has been severely affected, with its price dropping by a massive 7%. With this sharp drop, ETH has now fallen below its 200 exponential moving average (EMA), indicating that it has entered a downtrend.
ETH below 200 EMA The 200 EMA is a technical indicator that indicates both uptrends and downtrends in any asset. If an asset is above the 200 EMA on a longer timeframe, it indicates that the asset is in an uptrend. Conversely, if it is below the 200 EMA, it indicates a downtrend. This is the second time ETH has fallen below the 200 EMA since November 2023. Previously, on July 4, 2024, ETH fell below the 200 EMA for the first time during this period and stayed there for nearly six trading days. However, less than a month later, ETH fell below this key indicator again, foreshadowing a downtrend.
Will Bitcoin Price Drop to Low $55,000 Before the Next Bull Run?
Selling pressure has rapidly increased across the cryptocurrency market this week as bearish sentiment sets in. Bitcoin price has plummeted, falling from highs of $70,000 to below $62,000. Pressure above key support levels signals an impending breakdown as bears gather pace.
Will this week’s 10% drop extend into a massive correction wave in the coming days? In our BTC price analysis, let’s try to find out how low the Bitcoin price will fall before the next reversal. Bitcoin price performance Bitcoin price prediction of $100,000 was delayed as bullish momentum failed to sustain above $70,000 and a trendline breakout was delayed. BTC price plunged this week as a negative cycle began to form in the channel portion of the flag pattern.
The price of Solana (SOL), the world’s fifth-largest cryptocurrency, has plunged significantly by more than 8% in the past 24 hours today, August 3, 2024. This drop has resulted in a sharp drop in the critical support level of $157.
Why is Solana (SOL) Falling? With this drop, SOL turned bearish and is now heading towards the $125 level. Potential reasons for this price drop include the breakdown of key support levels and negative impact on major assets such as Bitcoin ( BTC ) and Ethereum ( ETH ). SOL cost performance analysis At press time, SOL is trading near $150, down more than 8% in the past 24 hours. Meanwhile, according to data from on-chain analytics firm CoinGlass, SOL’s open interest (OI) has also seen a significant drop of more than 8% in the same period. The drop in OI indicates a drop in fear and interest among investors and traders.
Ripple vs. the SEC: How the XRP Lawsuit Might Impact XRP Price
Ripple vs. SEC: The wait continues! The much-anticipated closed-door meeting has been rescheduled to August 7. Does this delay bring a settlement closer or further away? However, the XRP community is eagerly awaiting Judge Analisa Torres’ final ruling on Ripple’s SEC lawsuit; some XRP community members believe that the ruling may not have a significant impact on XRP’s price.
Despite high hopes on social media for an XRP breakout, one XRP community member has denied claims that the Ripple vs. SEC case has driven up XRP prices.
Potential punishment may outweigh positive emotions
Ethereum ETF Investments Soar: Could ETH Price Hit $4,000 Soon?
Despite Grayscale’s Ethereum Trust Fund’s cumulative outflows exceeding $2 billion, the daily net inflows of the U.S. spot Ethereum ETF have turned positive. Many cryptocurrency analysts believe that the Ethereum ETF will soon follow the path of Bitcoin.
BlackRock's ETHA ETF Shows Positive Momentum Spot Ethereum ETF flows have been volatile this week, with BlackRock and Grayscale leading the way. According to market data, spot Ethereum ETFs saw net inflows of $26.7 million on August 1, mainly due to an inflow of $89.6 million into BlackRock’s iShares Ethereum Trust (ETHA).
Bitcoin Price Prediction for August: May Drop to $48,000-53,000 Before Surges, Here’s Why
The price of Bitcoin (BTC) has continued to fall over the past 24 hours after opening August. The flagship currency was down more than 2% in early European trading on Friday, trading at around $63,981.
The same trend was seen in the altcoin sector, pushing the total cryptocurrency market cap to around $2.39 trillion. As a result, over $245 million was liquidated in the cryptocurrency derivatives markets in the past 24 hours, most of which involved long traders. Bitcoin whale activity remains active As geopolitical tensions in the Middle East increase, on-chain activity in the cryptocurrency industry continues to increase. In addition, the impending war will significantly devalue fiat currencies over time. As a result, more and more investors are beginning to seek refuge in the cryptocurrency industry to escape the uncertainty of the global economy.
Will AKT and BNX surge 50% in recovery despite market pullback?
Top altcoins are on the decline amid a hit to broader market sentiment. However, several low-cap altcoins are attempting to maintain the positive trend and signal a recovery rally as underlying demand surges.
As doubts about the market’s recovery grow, a supply wave for altcoins may be imminent. So, will these low-cap altcoins sustain their recovery or fall sharply in the days ahead? Low-cap altcoins are recovering: Akash Network (AKT) Despite the downtrend on the daily chart, AKT price showed a sudden surge in demand. The low-cap altcoin gained 4.45% intraday, challenging the upper trendline.
Chainlink (LINK) Price Dips, But Bullish Signals Appear: Ready for a Breakout?
Chainlink (LINK) ended last month on a bearish note, falling more than 7.9% over the past two weeks to trade around $12.74 in early Asian trading Thursday. Despite this decline, the mid-cap altcoin, which has a market cap of around $12.79 billion and average daily trading volume of around $300 million, still signals a possible bullish rebound.
What will happen in the future? A promising future Additionally, Chainlink’s price has established solid support above $12.5 over the past four months. In addition, Chainlink’s monthly relative strength index (RSI) has rebounded from the 50% level. According to Ali Martinez, a well-known cryptocurrency analyst, the TD Sequential indicator has issued a buy signal, so a significant rebound is expected in the future.
The main reason why Solana (SOL) price dropped today!
The cryptocurrency market has seen bearish price action for the fourth consecutive day, highlighting the increasing negativity within the crypto space. Additionally, top coins have lost momentum this week as Bitcoin and Ethereum tokens linger around their important support levels. On the other hand, the SOL price has failed to maintain its bullish momentum in the past few days. This has caused it to erase its weekly gains. With the rising volatility in the cryptocurrency market, can the Solana price reclaim $200 this August? In this article, we will take a deep dive into the Solana (SOL) crypto token’s market sentiment, price analysis, and possible short-term price targets.
XEC Price Faces Multiple Hurdles Before 2x Breakout Surge
This year, XEC price trends are showing signs of recovery and bullish sentiment is heating up. However, the recovery trend is about to face multiple resistances.
Additionally, broader market conditions warn of a surge in bearish sentiment in the altcoin space. So, will the XEC price maintain its bullish run or fall below the 50-day EMA? Let’s take a closer look at eCash price analysis to get a clearer picture of the current trend. XEC price recovery rebound quickly turned to sideways consolidation On the daily chart, eCash price trend is showing a triangle pattern driven by the ongoing recovery. The recovery rally broke above the 50-day EMA and is facing resistance at the 200-day EMA.
Bucking the trend, KAS price is expected to break through $0.28
As Bitcoin fell below $65,000, the broader correction intensified and pushed the pullback phase into motion. $225.34 million worth of liquidations were recorded in the past 24 hours, with long positions closed worth $197.8 million. As this puts additional pressure on altcoins, the KAS price trend may struggle to continue to rise.
The KAS token is showing good price action with a long-term recovery rally on the daily chart. So, check out the KAS price prediction and price analysis below to know more about future trends. Kaspa’s Breakout Reaches $0.20