MANA Regains Critical Support at $0.26, But That Alone Might Not Do It!

MANA recently retested multi-year lows near $0.25 after charting a bearish flag breakout on the daily chart. However, the expected breakout found a bounce at the $0.25 level. This allowed MANA to rebound and recapture support above the 20 EMA at $0.269. At press time, MANA is trading at $0.275, up nearly 5.8% in the past 24 hours.
Can MANA bulls recapture the position above the 50-day EMA?

Explore why Ethereum’s price is struggling, including the impact of Metalpha’s ETH sales, lackluster on-chain metrics, competition, L2 issues, and macroeconomic factors.

While most of the cryptocurrency market is losing money, Ethereum’s price has been struggling. Despite the launch of a spot Ethereum ETF in June, ETH prices fell 40% between May and August.
In addition to this challenge, Metalpha's $90 million sale of ETH has further pressured prices. This continued weakness suggests that there may be deeper underlying problems with Ethereum. Should investors be concerned about the future of the Ethereum network and its underlying asset?

After OpenAI launches its new AI model o1 with reasoning capabilities, the price of Worldcoin could break through a critical barrier and return to $2.

On the evening of September 12, Worldcoin price surged after OpenAI released a new AI model, o1. Amid Bitcoin price fluctuations, WLD price had been struggling below a strong resistance level. However, the news led to a price increase, allowing the crypto asset to jump above the resistance level. Will Worldcoin price take advantage of the current hype to reach $2?
Can OpenAI's o1 model boost Worldcoin's price?

Ethereum co-founder Vitalik Buterin recently made a splash in the DeFi space by depositing 2.27 million USDC and 2,851 ETH (about $6.73 million) into the Aave [AAVE] protocol. This major transaction has raised questions about its impact on Aave’s liquidity and token price performance.

So, the question is: is this a bullish sign for Aave’s future?
How does Buterin’s deposit affect Aave’s liquidity?
Buterin's deposit has made a significant contribution to Aave's total locked value (TVL), which is 8.07 million ETH at press time. Of this, 3.12 million ETH are borrowed, reflecting the strong demand for loans on the platform. In US dollar terms, Aave's TVL is $11.08 billion, accounting for 25.4% of the market share in the DeFi ecosystem, second only to Uniswap.

Financial asset prices trended higher on Thursday as new U.S. inflation and labor data further supported expectations that the Federal Reserve will begin cutting interest rates next week. The U.S. Producer Price Index (PPI) report for August showed that wholesale prices rose 0.2% month-on-month, slightly higher than economists' expectations, while the year-on-year increase of 1.7% was in line with expectations.
The Fed is widely expected to cut interest rates by 25 basis points next week, though some traders are still holding out hope for a 50 basis point cut, but data from the CME Group's FedWatch tool shows that the market is pricing in an 85% chance of a 0.25% cut.

Ondo [ONDO], the native token of a decentralized finance (DeFi) protocol designed to provide fixed-income loans backed by yield-earning crypto assets, is showing signs of recovery after a sharp drop in price.

On August 5, ONDO fell to a low of $0.52, but over the past week, the token has gained over 8%, and has gained another 0.6% in the past 24 hours alone. ONDO’s recovery amid growing investor interest suggests that it could see upward momentum in the near future.
ONDO’s falling wedge signals further gains

Artificial Intelligence [FET] is poised for a massive price surge, driven by its bullish on-chain metrics and potential breakout.

Despite the current bearish market sentiment, FET has surged by more than 28% in the past four days, outperforming major cryptocurrencies such as Bitcoin [BTC], Ethereum [ETH], and Solana [SOL].
Will FET continue to rise?
At press time, the outlook for FET is bullish as it is trading above the 200 exponential moving average (EMA) on the daily timeframe.
Investors and traders often use this indicator to determine whether an asset is in an uptrend or a downtrend.

Yesterday's CPI data was lower than market expectations, and it is basically certain that a 25 basis point interest rate cut has become a high probability event. The top crypto assets have stopped falling and rebounded slightly. The main traders in the market are waiting for the Fed's interest rate decision meeting next week. The first interest rate cut after the Fed has maintained high interest rates will have a greater impact on the market. It is expected that the market volatility will increase significantly next week.

In terms of ETFs, Bitcoin ETF had a net outflow of 43 million US dollars yesterday, and Ethereum ETF had a net outflow of 5 million US dollars yesterday, reflecting that the overall market participants are still cautious about the market, and the market cannot form a continuous net inflow or net outflow. In terms of the crypto ecology, Bitcoin's ecological classification Bitcoin's computing power has soared after it went online. This ecology has attracted widespread discussion and attention in the industry. Investors are advised to pay close attention to the subsequent trend of the project.

Solana [SOL] recently hit a new record of over 5.5 million daily active addresses, sparking discussions about a potential increase in the price of the native token.

The surge in network activity raises questions about whether on-chain growth and technical factors signal bullish momentum. Currently, the token has seen significant volatility in trading volume, in part due to recent whale activity. Despite some short-term bearish sentiment, the overall strength of the Solana network and significant growth in active users highlight its growing prominence in the blockchain space.
Do technical indicators indicate a breakout rebound?

Add a caption to your image, 140 characters or less (optional) Earning a solid return on investment in a bull market may mean focusing on meme coins and altcoins that have the potential to break out. However, identifying the next cryptocurrency to break out can take some work, as most funds are attracted to pump assets. The goal of today's article is to identify the next cryptocurrency to break out and introduce each coin to investors and traders. Also included in the article is an overview of market trends for crypto assets that have the potential to achieve significant growth in the future.

The price of Injective (INJ) has been on a roller coaster ride over the past two weeks. It retested the lower support area of ​​$15 and started to bounce back.

The pair has gained more than 15% in the past two trading sessions, showing follow-up buying momentum. The INJ cryptocurrency has withstood the selling pressure and is expected to break through the $20 mark and is expected to extend gains. This week, the Injective cryptocurrency has performed steadily and has broken through the 20-day moving average mark, which shows strong bullish momentum. While trading within the descending channel, the price of the INJ token is approaching the trendline barrier and attempting to break out. Currently, the INJ price is close to $19, with an intraday gain of more than 3.7%. Its market capitalization is $1.85 billion.

Can the VELO price stabilize and resume its previous trend, or will the mid-week sell-off continue?

Velo Labs, the team behind the Velo Protocol [VELO], is the latest crypto-native institution to leverage BlackRock’s first tokenized fund to bring innovative financial products to its market. The company said in a blog post on September 10 that its USDV stablecoin is backed by an investment from BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL). This strategic move is intended to enhance the utility of stablecoins and their appeal as a store of value and yield-earning asset.

Ripple’s native token XRP faces a price drop as whales dump millions of XRP tokens while the price retests the $0.545 breakout level. On September 12, 2024, Ripple whales have sold 39.32 million XRP tokens worth $21.13 million to Bitstamp.

Ripple Whale's recent actions
Whales selling XRP made the overall sentiment even more bearish, like what happened when the price retested its breakout level at $0.545.

At press time, XRP is trading near $0.538, with the price up about 0.38% over the past 24 hours. Meanwhile, its trading volume has increased by 19.9% ​​over the same period, indicating increased trader participation despite the low price.

The overall cryptocurrency market is facing selling pressure after a sharp market recovery. During this downturn, the popular meme coin dogwifhat [WIF] based on Solana [SOL] was hit hard, with the price falling by more than 3% in the past 24 hours. It is currently at a critical level. However, on-chain indicators such as WIF's long/short ratio, WIF OI weighted funding rate, and future open interest are sending bearish signals.
Bearish On-Chain Indicators for WIF
On-chain metrics further support WIF’s bearish outlook. Coinglass’s WIF long/short ratio is currently at 0.927, indicating bearish sentiment. According to the data, a long/short ratio below 1 indicates bearish sentiment and vice versa. Meanwhile, the WIF OI weighted funding rate is -0.0097%, further indicating bearish sentiment.

ApeCoin [APE] has shown signs of recovery and recently broke out of a descending channel pattern on the daily chart, sparking hopes of a bullish reversal.

After experiencing significant selling pressure early on, APE has seen a 52% rebound over the past week and briefly touched resistance at $0.87. However, the question remains: can bulls sustain this momentum, or will we see a period of consolidation?
Current Price Action and Key Levels to Watch

ApeCoin recently broke out of a descending channel pattern, marking a significant shift in market sentiment. Currently APE is trading at around $0.8007, down about 4.6% in the past 24 hours.

To be honest, I have been bullish since mid-2023, but my confidence has started to waver recently. This is actually a good sign, indicating that the market is recovering. I have also received more and more private messages from veterans in the cryptocurrency circle, who are concerned about the market, especially ETH's recent poor performance. This is another comic reversal signal. Looking back to March, the market consensus was to follow the typical 4-year cycle. This seems too simple, and it turns out to be true! With the correction in US stocks, Bitcoin has been falling recently, and the market seems to have gone to another extreme, but how bad is the situation?

Solana [SOL] was one of the hottest assets in the last trading session and its momentum is currently continuing.

This trend was primarily driven by SOL’s price action and the massive whale accumulation observed over the past 24 hours.
Solana joins the ranks of popular assets
According to data from Santiment, Solana was one of the most popular assets on September 9, ranking as the fourth most popular asset.
However, by the end of the trading session, it had fallen to sixth place. The data also showed that Solana’s positive sentiment exceeded 65%, reflecting strong optimism towards the asset.
As of this writing, SOL continues to rank among the hottest assets, retaining the sixth position with over 63% positive sentiment.

The price of Toncoin (TON) has seen a notable rebound recently, continuing to rise after a previous downturn. The recovery in the value of Toncoin coincides with a broader recovery in various cryptocurrency markets. The price of Toncoin is showing a bullish trend, indicating good momentum. In addition, the rise in cryptocurrencies reflects a general rise in global stock markets, which may be due to the expectation of interest rate cuts by the Federal Reserve.

Cryptocurrencies have been quite volatile over the past few months. Specifically, crypto prices have fallen significantly due to the arrest of Telegram CEO Pavel Durov. However, his release has sparked new optimism. Subsequently, this sentiment could be the catalyst that TON needs to make a big announcement in September. In the past 24 hours, the price of Toncoin has increased by 1.53% to $5.34. This continues the positive trend of the past week, which saw an increase of 11.3%, from $4.96 to the current price. Currently, the coin's all-time high is $8.25. The chart below compares Toncoin's price action and volatility over the past 24 hours (left chart) with the price action over the past week (right chart). The grey bands are Bollinger Bands, which are used to measure the volatility of daily and weekly price action. The wider the bands, or the larger the grey area at any given moment, the greater the volatility.