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Tag: crypto analyst

  • Solana Reclaims $80 Amid Friday Market Bounce – Analysts Set Next Targets

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    As the crypto market recovers, Solana (SOL) has bounced from a major level trendline and momentarily reclaimed a key horizontal level. Some analysts have signaled that a retest of a crucial short-term resistance could be coming, while others have warned that a breakdown to new lows remains possible.

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    Solana Bounces From Two-Year Trendline

    On Friday, Solana bounced 10.3% to break past the $85 area for the first time in three days. The cryptocurrency has been hovering between $78-$88 over the past week, briefly falling to $67 during last Thursday’s correction.

    SOL lost the mid-zone of its local range after recent market volatility, falling below $80 on Thursday. However, Today’s rebound has sent the altcoin above these recently lost levels, setting the stage for a potential recovery.

    Amid this performance, market observer Daan Crypto Trades highlighted that the cryptocurrency has reclaimed the key $80 level, which has historically served as major resistance and support.

    To the trader, the Solana must hold above this area and form a base above it before “watching for a low-timeframe market structure break back to bullish.” Analyst Ali Martinez observed that sustained buying pressure could push SOL’s price toward the $88 level, not seen since the start of the week.

    SOL recovery targets the $88 range highs. Source: Ali Charts on X

    The altcoin has been unable to break above this level since last week’s breakdown, becoming a key short-term resistance area. A breakout from this level could open the door for a retest of the $90-$96 zone, where the April 2025 lows are.

    Meanwhile, Crypto Batman noted that Solana is retesting its two-year descending trendline in the weekly timeframe, located around the recent lows. The chart shows that the macro trendline has been holding since early 2024 and has been tapped multiple times throughout the cycle.

    As the analyst explained, “Over the past 2 years, every time the price touches this level, a massive reversal occurs.” During this period, it has also marked the bottom of each major correction, with the latest retest taking place in Q2 2025 and leading to the following quarter’s rally.

    SOL Breakdown Still Coming?

    Despite the bullish outlooks, other market watchers have shared potential bearish forecasts for Solana if momentum weakens. Altcoin Sherpa warned that SOL could drop to $50 if selling pressure pushes the price below a crucial area.

    The chart shows that after losing the 200-week Exponential Moving Average (EMA), around the $121 mark, and the April 2025 lows, the key area to hold is the recently visited local range lows.

    As the analyst displayed, if the cryptocurrency fails to hold the $77-$78 price area, the next major historical support sits near the November 2023 breakout area, around the $51 mark.

    Market watcher Crypto Bullet suggested that Solana’s bottom may not be in yet, arguing that “those who bought BTC above $80k and SOL above $120 must stay trapped for a year or two.”

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    He affirmed that “returning to those levels anytime soon doesn’t make sense,” as the cryptocurrencies are in their markdown period.

    In an X post, he emphasized the market cycle phases, pointing out that the accumulation phase occurred between 2022 and 2023, while the distribution phase occurred between 2024 and the start of 2026. Based on this, the analyst’s chart shows that SOL could potentially find a bottom around the $40 area.

    As of this writing, Solana is trading at $84.17, a 2.5% decline in the weekly timeframe

    soalna, sol, solusdt
    SOL’s performance in the one-week chart. Source: SOLUSDT on TradingView

    Featured Image from Unsplash.com, Chart from TradingView.com

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    Rubmar Garcia

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  • Ethereum $1,900 Retest Could Decide Next Major Move – Is ETH Preparing For New Lows?

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    As most of the crypto market retests crucial levels, Ethereum (ETH) is attempting to reclaim a major horizontal area. Some market observers have warned that cryptocurrency could fall to new lows if the price doesn’t bounce soon.

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    Ethereum Weekly Close On Sight

    On Thursday, Ethereum dropped 1.4% to retest a key area for the second consecutive day. After hitting a 10-month low of $1,747, the King of Altcoins bounced more than 15% to trade between $2,000 and $2,150 over the past few days.

    However, the second-largest cryptocurrency by market cap failed to hold the crucial $2,000 horizontal barrier on Wednesday and tested the $1,900 mark for the first time in a week.

    After attempting to reclaim the key psychological level in the early hours of Thursday, Ethereum was rejected toward the recent lows, briefly falling below it. Analyst Ted Pillows highlighted the importance of ETH’s current zone, as it has previously triggered major moves.

    To him, if the altcoin fails to reclaim the $2,000 area in the coming days, a full retrace toward the recent lows should be expected soon. Similarly, market observer Crypto Busy noted that the cryptocurrency is currently trading above a major long-term support.

    According to the post, the recent correction has sent Ethereum toward a three-year rising support line, which “will decide the next big move.” The analyst warned that “If the trendline breaks with strong weekly closes below $1,900, the structure weakens.”

    Therefore, ETH must hold its current levels in the coming days to avoid a weekly close below this level. Otherwise, its price could drop “into the next liquidity pockets around $1,600 and possibly $1,300, where the next historical support zones exist.”

    Is ETH’s ‘Real’ Bull Market Two Years Away?

    Trader AlejandroXBT shared a potential macro-outlook for Ethereum that suggests the cryptocurrency could still see another major shakeout:

    My thesis is that the major bullish move that began around 2019–2020 has transitioned into a large and prolonged macro correction, and that Ethereum has been consolidating within this broader corrective structure ever since.

    He outlined four phases for the macro structure: the pump, the correction, the shakeout, and the moon. The initial phase, which occurred between 2019 and 2021, marked “the true impulsive bullish move,” with strong trend expansion and increasing momentum.

    ETH macro structure breakdown. Source: AlejandroXBT on X

    According to the market observer, the strong rally that followed the 2022 bear market appears to be a “counter-trend move within a broader corrective range” rather than a renewed bull market and the start of a new long-term cycle.

    As he explained, ETH’s range-bound behavior signals distribution and consolidation instead of continuation. “From this perspective, the apparent bull market that developed within the correction can be interpreted as a dead cat bounce, a technically strong bounce occurring inside a larger corrective structure,” he affirmed.

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    Therefore, the current macro structure would suggest that a final shakeout phase could “still be required to fully reset sentiment and liquidity before Ethereum can transition into a new impulsive bullish cycle.”

    Based on this, the trader anticipated a final liquidity-driven move to the downside in the coming months, followed by “the moon” phase, potentially next year, when “the structure suggests the conditions for a true long-term bullish continuation, with price discovery and expansion well beyond previous highs.”

    Ethereum, eth, ethusdt
    Ethereum’s performance in the one-week chart. Source: ETHUSDT on TradingView

    Featured Image from Unsplash.com, Chart from TradingView.com

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    Rubmar Garcia

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  • Ethereum’s Q1 Outlook: Analyst Shares Historical Setup As Price Nears Key Resistance

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    While Ethereum (ETH) attempts to turn a crucial level into support, some analysts have shared a bullish outlook for the cryptocurrency, which could send its price above the $4,000 barrier in the first quarter of 2026.

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    End-Of-Year Weakness To Ignite Q1 Rally

    On Monday, Ethereum broke above the $3,200 barrier for the first time in nearly a month, hitting a four-week high of $3,259. The cryptocurrency has seen a 8.3% surge from the crucial $3,000 level since Friday, consolidating above the $3,100 level over the weekend.

    Now, the King of Altcoins is trying to hold the key resistance level and turn it into support. Amid this performance, some market observers shared a potential setup that could lead to a significant rally during the next three months.

    In an X post, analyst Niels affirmed that Ethereum’s quarterly close in the red is “not as bearish as it looks.” Notably, the altcoin recorded its worst Q4 in six years after closing the quarter with a negative return of 28.28%, according to CoinGlass data.

    This marks ETH’s first negative Q4 close since 2022, and its worst end-of-year performance since 2019, when it registered a negative return of 28.9%. Nonetheless, Niels highlighted that this opens the door for an “interesting” setup ahead of the altcoin’s expected seasonality.

    ETH’s quarterly performance over the years. Source: CoinGlass

    “History tells an interesting story: every single time ETH has finished Q4 in the red, the next Q1 has closed green,” the analyst explained, asserting that “year-end weakness has usually acted as a reset, not a reversal.”

    Per the post, the end-of-year leverage flush and sentiment cooling have previously enabled Ethereum to start the new year “from a cleaner base,” which has allowed the altcoin to register quarterly returns of up to 52% in recent years.

    “If that pattern holds, Q4 wasn’t the warning; it was the setup heading into Q1,” he suggested.

    Ethereum Prepares For 30% Breakout

    As the price records an 11% weekly surge, analyst Ted Pillows pointed out that the cryptocurrency is about to face an important zone that has served as resistance for nearly two months.

    Since the early November pullback, the largest altcoin by market capitalization has been trading between the $2,700-$3,400 price range, experiencing strong resistance around the $3,000 and $3,200 levels.

    Now that the mid-zone of the range has been momentarily reclaimed, ETH must hold its momentum and turn the upper boundary into support. “A reclaim of this level will pump Ethereum towards the $3,800-$4,000 level,” where the next major resistance is located, Ted explained on Monday morning.

    On the contrary, a rejection from this resistance zone could send the ETH price toward the $3,000 support, while risking a longer consolidation within its two-month range.

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    Meanwhile, analyst Ali Martinez discussed the altcoin’s consolidation, pointing to a symmetrical triangle pattern forming on its chart. According to the analyst, Ethereum has been compressing between the pattern’s ascending and descending trendlines since November, awaiting a 30% move.

    If the price holds its current breakout from the upper boundary, the cryptocurrency could see a rally toward the $4,000 area in the coming weeks, positioning ETH for a retest of the Q3 levels.

    As of this writing, Ethereum is trading at $3,253, a 3.4% increase in the daily timeframe.

    Ethereum, eth, ethusdt
    ETH’s performance on the one-week chart. Source: ETHUSDT on TradingView

    Featured Image from Unsplash.com, Chart from TradingView.com

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    Rubmar Garcia

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  • Did Crypto Investors Stop Believing In The Four-Year Cycle? Analyst Weighs In

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    With only two weeks left of 2025, market participants wonder whether the Bitcoin (BTC) and the rest of the crypto market will continue to struggle or begin recovering. An analyst discussed the current market sentiment and the impact it may have on market performance.

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    The Four-Year Crypto Cycle Is ‘Like Faith In God’

    As we approach the end of the year, concerns about the crypto market’s performance continue to mount. Bitcoin, the largest cryptocurrency by market capitalization, has seen a 30% decline from its early October peak.

    As the volatility persist and the flagship crypto trades below its yearly opening price of $93,500, some investors questioned the four-year cycle theory, suggesting that the theory may no longer hold after the recent market’s performance.

    Responding to one of these comments, pseudonym market observer Plur affirmed that the four-year crypto cycle has evolved over the years and that “there is no magical rule of nature stating price must go up and down on this fixed cadence.”

    The analyst explained that the theory is a “memetic consensus, which is a form of implicit agreement and coordination that people will buy and sell together at set times, and by doing so, force outsiders to participate and bring their money.”

    “It’s an egregore-as-cartel. It’s a large group of loosely connected people all saying, every 4 years, we are going to hike up and down this mountain at the same time,” he detailed on the Wednesday post.

    Another community member added that the crypto cycle “is like faith in God: everyone believes in it, but no one has ever seen it.” Plur added that the initial catalyst and “original metronome” of this theory was the halving but that it has become “something more than that.”

    Market Struggles As Investors’ Faith Splits

    The evolution of the four-year crypto cycle has led some market participants to try to shift their behavior to “front run the moves of others” to benefit more.” As a result, many investors started to sell aggressively in 2025 anticipating of the end of the cycle.

    To the market watcher, this “represents a fraying in the memetic consensus, and eventually it collapses, as belief decays.” Similarly, Ark Invest’s CEO, Cathie Wood, recently affirmed that Bitcoin is currently “climbing another wall of worry” that has made investors cautious of the upcoming market performance.

    She explained that there is fear of the four-year cycle, which suggests that 2026 will be a corrective year. Plur noted that the crypto market is in an uncertain state, where some investors continue to believe in the theory and some don’t.

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    “The biggest impact that might have is not giving people enough confidence to buy on the upswing. Remember how assured you felt buying in 2023? Now the troops are scattered because the coordination mechanism is gone,” he stated.

    Plur added that “in equities the memetic consensus is that the index will always grind up over time, buy the dip, trust the process. (…) I had been hopeful that something similar could come in for BTC to replace the 4 year cycle, but sell pressure was way too high,” leading to the indeterminate state of the market. He concluded that it’s time to wait and see if a new form of memetic consensus can form.

    Total crypto market capitalization is at $2.92 trillion in the one-week chart. source: TOTAL on TradingView

    Featured Image from Unsplash.com, Chart from TradingView.com

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    Rubmar Garcia

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  • Ethereum’s End-Of-Year Rally Still At Play? Analysts Eye 50% December Jump

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    Ethereum (ETH) is attempting to bounce from the market’s Q4 correction, retesting the $3,000 barrier once again. As we approach the end of November, some market observers have suggested that the end-of-year rally may still be possible in the coming weeks.

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    Ethereum Eyes $3,000 Ahead Of Key Upgrade

    On Wednesday, Ethereum experienced a 4.4% daily surge, retesting the $3,000 level for the first time in nearly a week. The cryptocurrency has been trading within the $2,680-$2,980 price range amid the latest market-wide correction, which also saw Bitcoin (BTC) lose some crucial support levels.

    At the start of the week, the King of Altcoins broke above the $2,900 area, attempting to retest the next key resistance over the past two days but ultimately failing to reclaim it. Analyst Ted Pillows highlighted this performance, noting that ETH “tapped the $2,950-$3,000 zone again and got rejected.”

    Per the post, until Ethereum successfully reclaims this level, “the chances of a new low are high.” On the contrary, if the cryptocurrency breaks above this zone with strong volume in the coming days, investors could “expect a rally towards the $3,400 level.”

    The analyst also suggested that the altcoin could see a remarkable recovery rally next week, driven by the upcoming Fusaka upgrade. As he explained, ETH soared around 50% after the network’s Pectra upgrade in May.

    As reported by NewsBTC, the upgrade introduced a series of improvements to increase transaction capacity, enhance efficiency, and reduce system stress. Following the implementation, the cryptocurrency rallied from the $1,800 level to the $2,700 area in a week, which was later followed by an 80% jump in Q3 to its latest all-time high (ATH) of $4,946.

    Now, the Fusaka upgrade is the network’s biggest update since The Merge and is expected to come on December 3, “to relieve one of the network’s most pressing bottlenecks: data availability for rollups,” VanEck explained in October.

    Based on this, Ted Pillows suggested that if ETH repeats its post-Pectra performance with the new upgrade, the altcoin’s price could soar above the $4,000 resistance in the next few weeks.

    End-Of-Year Rally Underway?

    Market watcher Merlijn The Trader also suggested that Ethereum could see another leg up soon, as it is “repeating a textbook wave structure” it has printed multiple times since hitting the bear market bottom in mid-2022.

    “Wave 1: Kicked off the cycle. Wave 2: Is shaking weak hands. wave 3: Where parabolas form,” the trader explained on X, noting that ETH could be ending its corrective move and potentially see another rally in the coming weeks.

    “This pattern printed 3 times before. Each time, ETH went vertical. Now it’s flashing again,” he stated. Similarly, Michaël van de Poppe highlighted Ethereum’s trading pair against Bitcoin, affirming that investors should keep an eye on the chart.

    Notably, ETH is retesting a multi-month downtrend line resistance against BTC, and could “see a strong breakout upwards in the coming weeks.” “This cycle is far from over,” van de Poppe added.

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    Meanwhile, Rekt Capital noted that Ethereum Dominance continues to occupy an area that served as a consolidation zone before the 2021 rally. “As long as ETHDOM can maintain itself above 10.05% then it should be positioned for higher market dominance levels over time,” the analyst concluded.

    As of this writing, ETH trades at $3,023, a 2% increase in the weekly timeframe.

    ETH’s performance on the one-week chart. Source: ETHUSDT on TradingView

    Featured Image from Unsplash.com, Chart from TradingView.com

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    Rubmar Garcia

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  • The Next Chapter For Crypto: Legislative Clarity, Institutional Support Set Stage For Major Growth

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    The crypto market, despite experiencing throughout the year major price fluctuations, security incidents, and legal hurdles, has experienced remarkable growth.

    This can be attributed to the expansion of digital asset treasuries (DATs), increased institutional adoption, and new initiatives aimed at integrating digital assets, particularly stablecoins, into traditional financial sectors.

    Andreessen Horowitz (a16z) recently shared their projections for the crypto landscape for the remainder of the year and years to come, highlighting nine key trends expected to be major catalysts for the industry.

    Key Legislative Changes And Institutional Adoption 

    Firstly, market structure legislation in the US is expected to emerge as a critical priority for policymakers and Congress, establishing a clear regulatory framework that supports crypto developers. 

    The passage of the GENIUS Act in July of this year also marked a pivotal moment, garnering bipartisan support and providing builders with much-needed certainty in their endeavors.

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    Secondly, the adoption of stablecoins is set to accelerate as network effects take hold among financial institutions, merchants, and consumers, thereby enhancing the global standing of the US dollar.

    Furthermore, major players like JPMorgan, Citi, BlackRock, and Fidelity are amplifying their crypto offerings through new product launches, partnerships, and acquisitions. 

    The infrastructure supporting blockchain technology is also advancing rapidly. Current networks can process over 3,400 transactions per second, marking a 100-fold increase over the past five years.

    Moreover, a new wave of real-world assets (RWAs) is transitioning onto the blockchain as the worlds of crypto and traditional finance converge. The market for tokenized real-world assets has expanded to nearly $30 billion, with significant contributions from Treasuries, money market funds, and private credit.

    The Future Of Crypto

    In parallel, the crypto sector is attracting a growing pool of talent, driven by a more favorable regulatory environment and the emergence of new opportunities for developers.

    The focus on revenue generation is also shifting within the token ecosystem. More tokens are implementing fee mechanisms, redirecting attention toward fundamental value. In the past year, users have paid $33 billion in fees, resulting in $18 billion for projects and $4 billion for token holders. 

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    Innovative consumer products are also expected to drive the next wave of crypto adoption. Although approximately 716 million people now own cryptocurrency, only 40 to 70 million are considered active users. 

    Ultimately, 2025 is poised to lay the groundwork and establish the foundations for the years to come. It is expected to be a transformative year for the crypto industry, characterized by widespread institutional adoption, regulatory clarity, and tangible utility. 

    The daily chart shows the total crypto market cap valuation at $3.8 trillion. Source: TOTAL on TradingView.com

    Featured image from DALL-E, chart from TradingView.com

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    Ronaldo Marquez

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  • PUMP Rallies 10% Following Pump.Fun’s Acquisition Of Trading Terminal Padre

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    Pump.fun announced the acquisition of a leading multi-chain trading terminal to further expand its ecosystem, triggering a 10% price surge for the platform’s token, PUMP.

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    Pump.fun Acquires Padre

    On Friday, Solana’s leading launchpad, Pump.fun, announced it had acquired multichain trading terminal Padre for an undisclosed amount as part of its “mission to tokenize the world’s highest-potential opportunities.”

    The platform explained that trading terminals have “captured most trading volumes in the ecosystem” for the past year. Therefore, the acquisition of Padre, which supports trading across Ethereum, Solana, BNB Chain, and Base, “was a no-brainer,” Pump.fun’s co-founder Alon Cohen affirmed.

    “Today marks another historic day for the PUMP ecosystem. What we’re known for is innovating, growing the market as a whole and creating the most retail-friendly products,” Cohen wrote on X.

    “But we have always wanted to find more ways to support and reward our existing, loyal user base, most of which uses pro trading terminals,” he continued, adding that “the Padre team has shown the most grit, execution capability and integrity out of any crypto team I have gotten to know.”

    According to the official announcement, Padre will function as usual, but users will experience significant upgrades in user experience, especially for tokens launched on Pump.fun. Additionally, the integration will improve data and speed, and offer better trading incentives.

    PUMP Breaks Out Of Bearish Structure

    Following the news, Pump.fun’s token, PUMP, became one of the best-performing tokens in the past 24 hours, jumping 11.6% to a one-week high of $0.0043. The cryptocurrency has been trading within the $0.0036-$0.0046 price range since the early October correction.

    Analyst Sjuul from AltCryptoGems noted that yesterday, PUMP was “in a bit of trouble” after retesting the range lows, needing to break out of a bearish structure to prevent a breakdown to lower levels.

    After today’s rally, PUMP “finally broke that structure,” suggesting that the range high should be the next target for the cryptocurrency’s price.

    A potential breakout from this range could set the stage for a retest of the $0.005 mark, a key support and resistance level during the Q3 rally that was lost during the October 10 pullback.

    PADRE Crash Drives Community Backlash

    Despite the PUMP rally, Pump.fun received some backlash after the acquisition. Padre’s users slammed the memecoin launchpad for one of the key changes listed in the announcement.

    According to the official X post, trading terminal’s token, PADRE, “will no longer have utility on the platform with no further plans for the future.” As a result, the cryptocurrency dropped 76% in an hour to a multi-month low of $0.009 before stabilizing at around $0.0139.

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    A user criticized the decision, affirming that “when you acquire a product that has been on the market for more than a year, (…) it would be really wise to take into account people that have invested into the token as well.”

    The user considers that “posting a statement that renders the token absolutely useless and sunsetting it in this way is atrocious,” suggesting that the Pump.fun team should have taken a snapshot and announced an airdrop for PADRE holders.

    PUMP’s performance in the one-week chart. Source: PUMPUSDT on TradingView

    Featured Image from Unsplash.com, Chart from TradingView.com

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    Rubmar Garcia

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  • Analyst Warns Solana Price Risks Major Breakdown, Should Investors Worry?

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    As Solana’s (SOL) price attempts to hold a crucial support area, an analyst has warned investors that the highly anticipated “Solana season” might not happen as the altcoin risks a massive price crash.

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    Solana Risks ‘Serious Downside’

    On Friday, Solana followed the rest of the market and fell below the $180 support to retest the recent lows. The cryptocurrency started this week by recovering from last week’s correction to its two-month low of $168, briefly attempting to reclaim the $210 resistance on Tuesday.

    However, the recent market volatility has seen the altcoin lose the $200 level again and retest a crucial support area that could determine SOL’s next move. Amid this performance, analyst Crypto Bullet shared a bearish outlook for Solana, suggesting that a 75% crash from current prices might be coming.

    In Q2, the market watcher warned that the cryptocurrency’s bull market was “likely over,” highlighting its structure in the higher timeframe chart. Per the post, SOL “had a clear 5-wave Impulse to the upside that ended in January with $TRUMP coin blow off top,” when the altcoin hit its all-time high (ATH) of $293.

    Based on this, he forecasted that Solana would see an ABC corrective wave pattern in the coming months, with a potential bounce to the $240-$250 area for the B wave, before “the most painful wave down (C).”

    SOL displays a potential ABC corrective wave pattern in the monthly chart. Source: Crypto Bullet on X

    The analyst affirmed that the cryptocurrency has likely completed the B wave, although it could have a bounce to a new higher high before the breakdown. “The monthly candle still has 2 weeks to close green, but frankly speaking, Solana looks cooked (whether we get a higher high to trap more people or not),” he affirmed.

    Crypto Bullet cautioned SOL holders that if the C wave has started, they “should be prepared for some serious downside” in the mid-term toward the $40 target.

    Can SOL Retest $210?

    Analyst Ted Pillows also cast a warning for investors, asserting that “Solana treasury companies are in free fall right now.” He suggested that the recent dump is partially driven by the halt in institutional bidding. “Until these companies show some recovery, I think Solana’s price recovery will be difficult,” the post read.

    Despite the bearish predictions, some market watchers consider that SOL’s bullish outlook is still in play. Man of Bitcoin highlighted that Solana’s price is potentially forming a 1-2 setup, which could send its price back to the $200-$210 area.

    To the analyst, as long as the price holds above the $170 support level, the bullish scenario could continue to play out. Meanwhile, Crypto Yapper noted that Solana is currently retesting a double support in the daily chart, which could set the stage for a 15%-20% bounce.

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    Per the post, SOL’s price is retesting the lower boundary of a 2-month falling wedge formation and the crucial $170-$180 horizontal level, which has served as a major support and resistance level throughout the year.

    Holding these levels in the daily and weekly timeframe could spark a rebound and propel the price to retest the falling wedge’s upper boundary and the crucial horizontal resistance around the $210-220 mark, the analyst noted.

    As of this writing, SOL is trading at $182, a 12.6% decline in the daily timeframe.

    Solana, sol, solusdt
    Solana’s performance in the one-week chart. Source: SOLUSDT on TradingView

    Featured Image from Unsplash.com, Chart from TradingView.com

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    Rubmar Garcia

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  • Solana (SOL) Price Risks Drop Below $200 After Losing Key Support, Analyst Warns

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    Amid the recent market volatility, Solana (SOL) has lost a crucial area for the first time in over a week, leading some analysts to forecast a potential drop toward the $200 support and below in the coming days.

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    Solana Pullback Eyes $200 Retest

    Solana fell from the $225 area and recorded a 6.6% intraday retrace below the $210 level for the first time in two weeks. Notably, the cryptocurrency has been trading within the $210-$245 levels over the past month, briefly losing this range during the late September pullback.

    As “Uptober” arrived and the overall crypto market recovered, the altcoin bounced from the recent lows, reclaiming the mid-zone of its local price range. Over the past week, SOL traded within the $220-$235 area, retesting both the upper and lower boundaries of this zone throughout this week’s volatile market performance.

    Multiple market watchers warned that losing $215-$220 area could determine whether SOL’s short-term rally was at risk. On Friday morning, the altcoin lost this crucial zone, hitting a one-week low of $207.

    Analyst Crypto Batman forecasted that Solana would likely head lower before bouncing, highlighting two key support areas. He suggested that the altcoin’ could retrace deeper into its Bullish Fair Value Gap (FVG), between $210-$220, which previously served as a key resistance level.

    However, if the price continues to fall, he pointed out that a retest of SOL’s two-month ascending trendline, currently around the $200 mark, would be possible. This trendline was tested as support in late September, when the altcoin fell to the $190 level.

    Similarly, Crypto analyst Man of Bitcoin had affirmed that holding the $216 level was crucial to preserve a bullish scenario in which the cryptocurrency rallied toward the $270 without major pullbacks.

    The analyst cautioned that losing this area would invalidate the bullish setup and likely push the price down toward the local range lows, potentially risking a drop to the $200 barrier.

    SOL’s Make-Or-Break Level

    Meanwhile, market watcher Follis recently stated that SOL has “one of the cleanest” high timeframe charts in the market. He noted that Solana’s 100-day Exponential Moving Average (EMA) indicator in the daily chart holds “the key.”

    Notably, this indicator, currently sitting around the $200 area, has been tested as support and bounced from each time the cryptocurrency has failed to break a major resistance level since August.

    Based on its recent performance, if the altcoin holding the EMA100 on the daily timeframe could see a rebound and target the range highs. On the contrary, if this level is lost, the cryptocurrency risks falling to the September lows.

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    Despite the short-term correction, some analysts remain optimistic about SOL’s end-of-year rally, suggesting that it will continue its path to new highs after the retrace. “$320 remains the target,” Trader Koala affirmed, “Pullback first though.”

    As of this writing, Solana is trading at $205, a 12.1% decline in the weekly timeframe.

    Solana’s performance in the one-week chart. Source: SOLUSDT on TradingView

    Featured Image from Unsplash.com, Chart from TradingView.com

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    Rubmar Garcia

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  • Solana Freefall Ahead? SOL Price Risks Drop To $150 If This Critical Support Fails

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    After hitting a one-month low, Solana (SOL) has bounced from a critical support zone and is attempting to reclaim a crucial psychological barrier before potentially resuming its bullish rally. However, some analysts suggested that the cryptocurrency could retest new lows if the market volatility persists.

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    Solana Price Retest Major Support

    On Thursday, Solana lost the $200 level as support after closing the day below this level for the first time in nearly a month. The cryptocurrency has been trading inside the $120-$220 price range since early February, finally breaking out of this range in mid-September.

    A week ago, the market’s bullish momentum and strong corporate treasury purchases pushed SOL’s price to an eight-month high of $253, leading many investors to anticipate the long-awaited rally to higher levels.

    However, this week’s pullbacks have sent most cryptocurrencies below crucial levels, with Bitcoin and Ethereum dropping to $108,000 and $3,800, respectively. Meanwhile, Solana has seen a 20% decline in the weekly timeframe, losing the $200 level.

    Analyst Sjuul from AltCryptoGems asserted that SOL was “in freefall after that nasty deviation back into the range.” If Solana fails to hold the current $190-$200 range, the analyst considers it would be “very difficult” to find strong support before the demand zone around $150, a level not seen since the start of July.

    Similarly, market watcher Wise Crypto also noted that Solana could be in a make-or-break retest, as it retests a critical support zone and the overall market still shows some signs of weakness.

    According to the post, SOL has been trading within an ascending channel since April, bouncing between the upper and lower boundaries throughout this period.

    If the market’s recent volatility continues, the cryptocurrency could retest the channel’s support zone, around the $177-$188 levels. “If this zone breaks, the next major support is down below $150 — so caution is key,” they added.

    SOL Bounce Eyes $200 Reclaim

    Despite the volatility, Wise Crypto also signaled that “Stochastic RSI is signaling oversold conditions, suggesting a potential bounce could be on the horizon.” As a result, if SOL holds this support area, a move toward the $250 barrier could follow.

    As Solana approached its major ascending trendline, Crypto Batman noted that SOL has bounced from this level each time it has retested it, suggesting that “In the midst of chaos, you have to look at things from a different perspective.”

    Notably, SOL bounced from the recent lows on Friday Morning and is currently attempting to break above the $200 psychological barrier.

    Nonetheless, the cryptocurrency must daily close above this key level and continue to hold it over the weekend to transform the pullback into a downside wick deviation in the weekly timeframe.

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    Ted Pillows added that if this level is reclaimed, the $208-$210 area, near the 10-day Moving Average (MA), would be the next target.

    According to the market watcher, reclaiming and holding above that level would be the first bullish sign, which could potentially push Solana’s price toward $216–$220, near the 30-day MA.

    As of this writing, SOL trades at $199, a 1.4% increase in the daily timeframe.

    Solana’s performance in the one-week chart. Source: SOLUSDT on TradingView

    Featured Image from Unsplash.com, Chart from TradingView.com

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    Rubmar Garcia

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  • Analyst Says Ethereum Bounce Is Imminent As BitMine Continues To Accumulate

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    After losing the $4,450-$4,500 area during the recent market downturn, Ethereum (ETH) is attempting to hold a crucial level as support. Some analysts suggest that the leading altcoin is poised to bounce soon as crypto treasury companies continue to bet on the cryptocurrency.

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    Ethereum Eyes Rebound Amid $4,100 Retest

    On Monday, Ethereum’s price dropped around 7% during the largest liquidation event of the year so far. Notably, the crypto market saw more than $1.7 billion in leveraged positions liquidated over the past 24 hours, according to CoinGlass data.

    ETH led the losses with nearly $500 million in liquidations, followed by Bitcoin’s $284 million. This dragged the King of Altcoin’s price to the crucial $4,100 support for the first time since August, hitting a one-month low of $4,077.

    Daan Crypto Trades highlighted that today’s event was the largest nominal Ethereum liquidation since 2021, when the cryptocurrency’s price dropped around 45% in a single day. However, various market watchers noted that the price decline was relatively tame compared to previous liquidations of this scale.

    As the second-largest cryptocurrency dropped to the $4,100 support, some analysts suggested that Ethereum is gearing up for a rebound. Merlijn The Trader affirmed that ETH is “following the blueprint” to a five-digit target.

    Per the trader, the cryptocurrency rallied to its previous all-time high (ATH) of $4,800 after breaking out of a multi-year bullish pattern. Following its breakout from an Adam and Eve formation in 2021, the leading altcoin retested the level as support and consolidated around this area for three months before the next leg up.

    This time, Ethereum displays a new textbook setup with a multi-year descending triangle formation, which was broken out of last month and is currently being retested as support. According to the market watcher, ETH could see a 2021-like breakout toward the $10,000 barrier.

    Nonetheless, Ted Pillows asserted that the altcoin must hold the $4,100 area as support for a short-term bounce. “If this level is lost, Ethereum will drop towards the $3,700-$3,800 level,” the analyst warned.

    BitMine Holds 2% Of ETH Supply

    Despite the market downturn, corporations continue to bet on the second-largest cryptocurrency for their Digital Asset Treasury (DAT) strategies. BitMine, the second-largest crypto treasury, revealed that it has increased its ETH holdings to nearly 2.5 million tokens over the past week, as part of its goal to hold 5% of Ethereum’s total supply.

    BitMine now owns over 2% of the supply with 2,416,054 ETH, solidifying its position as the largest ETH Treasury in the world. According to the Monday announcement, the company now holds $11.4 billion in assets, including the 2.4 million ETH tokens, 192 Bitcoin (BTC), $175 million stake in Eightco Holdings for its “Moonshot” initiative, and unencumbered cash of $345 million.

    Additionally, the company is the 24th most traded stock in the US, with an average daily volume of $3.5 billion, according to 5-day average data from Fundstrat.

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    BitMine’s chairman, Thomas “Tom” Lee, stated that the company continues “to believe Ethereum is one of the biggest macro trades over the next 10-15 years,” adding that “Wall Street and AI moving onto the blockchain should lead to a greater transformation of today’s financial system. And the majority of this is taking place on Ethereum.”

    As of this writing, ETH is trading at $4,145, an 8% decline in the weekly timeframe.

    Ethereum’s performance in the one-week chart. Source: ETHUSDT on TradingView

    Featured Image from Unsplash.com, Chart from TradingView.com

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    Rubmar Garcia

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  • Solana Eyes Massive Breakout Amid $240 Retest, But Analyst Issues Crucial Market Warning

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    Solana (SOL) could be near the long-awaited price discovery phase after climbing to a seven-month high. However, an analyst suggested investors remain cautious, as the market rally is “closer to the end than the beginning.”

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    Solana Eyes Last Major Resistance

    On Friday, Solana reached a seven-month high of $241.84 after breaking out of its consolidation range earlier in the week. The cryptocurrency had been trading within the $120-$220 price range since the start of February, failing to reclaim the range’s high during the recent short-term recoveries.

    The ongoing rally has sent the cryptocurrency past multiple crucial barriers, “getting close to the final resistance,” analyst Crypto Jelle stated. He highlighted that SOL has been “quietly pushing higher, without anyone paying attention,” climbing 20% since Sunday.

    Now that the altcoin is attempting to reclaim the $240 area as support, the analyst pointed out that Solana has “one last hurdle to overcome” before price discovery.  According to the post, if SOL reclaims the $250 level, “the sky is the limit,” as this area has been a crucial macro resistance level over the past two years.

    To the analyst, turning this level into support could set the base for a rally to $600. Similarly, analyst Ali Martinez suggested that SOL’s main target sits at around the $1,314.41 level after the altcoin broke out of a massive three-year cup and handle pattern.

    Nonetheless, Altcoin Sherpa issued a warning to investors on X, stating that “Now is NOT the time to ape in gigantic.” He asserted that despite thinking that Solana, Ethereum (ETH), and BNB “generally go higher from here, (…) the bulk of the move is done for these.”

    The analyst explained that he will remain bullish “until shown otherwise,” and expects a great performance in the coming months, but noted that the bull run is “closer to the end than the beginning.”

    “We are lucky that the marginal buyers are Tradfi with these DATs but with Saylor not buying as much, hard to tell where the next set of flows come from,” he stated.

    ‘SOL Season’ Momentum Grows

    Bitwise’s CIO Matt Hougan recently forecasted a bullish Q4 rally for Solana, affirming that the cryptocurrency has “all the ingredients (…) for an epic end-of-year run.” He suggested that it could start a “Solana Season” fueled by exchange-traded funds (ETFs) and strong corporate treasury purchases.

    Notably, multiple spot Solana ETFs are awaiting the approval of the US Securities and Exchange Commission (SEC) after the regulatory agency delayed the decision deadline last month. As a result, issuers and investors are expecting a positive outcome around the first half of October.

    Additionally, the recently launched Solana Treasury company, Forward Industries Inc., announced it had successfully closed its private investment in public equity (PIPE) financing on September 11, securing gross proceeds of approximately $1.65 billion for the Company.

    As reported by NewsBTC, Galaxy Digital, Jump Crypto, and Multicoin Capital announced their plan to establish the SOL treasury company to purchase the cryptocurrency, stake it, and generate excess returns.

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    “Forward Industries intends to use the net proceeds from the offering primarily to purchase SOL, the native digital asset of the Solana blockchain,” the company reaffirmed in its Thursday statement.

    As of this writing, SOL is trading at $239.86, a 6.1% increase in the daily timeframe.

    Solana’s performance in the one-week chart. Source: SOLUSDT on TradingView

    Featured Image from Unsplash.com, Chart from TradingView.com

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    Rubmar Garcia

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  • Lummis Fast-Tracks Crypto Market Structure Bill To Reach Trump’s Desk Before Thanksgiving

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    In a recent address, pro-crypto Senator Cynthia Lummis revealed her efforts to expedite the passage of a crucial piece of legislation known as the Market Structure Bill. 

    This initiative follows the recent enactment of several significant laws, including the GENIUS Act, the CLARITY Act, and the Anti-CBDC bills, all aimed at shaping the future of digital assets in the United States.

    Keys Behind The Responsible Financial Innovation Act

    Since the House of Representatives passed these key crypto bills last month, the Senate Banking Committee has been crafting its version of a comprehensive regulatory framework for cryptocurrencies. 

    Under the leadership of Chairman Tim Scott and alongside Senators Lummis, Bill Hagerty, and Bernie Moreno, the committee introduced the draft of the “Responsible Financial Innovation Act of 2025.” 

    This piece of crypto legislation seeks to provide much-needed regulatory clarity, promote innovation, and address the significant risks often associated with the evolving digital asset landscape.

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    The Senate’s proposed framework builds on the foundation laid by the Clarity Act, which primarily aimed to empower the Commodity Futures Trading Commission (CFTC) and classify digital assets as commodities. 

    In contrast, the Senate bill grants the Securities and Exchange Commission (SEC) primary regulatory oversight over what it terms “ancillary assets.” 

    Notably, the bill specifies that these ancillary assets should not be classified as securities, and transactions involving them would not fall under federal securities laws, including the Securities Investor Protection Act of 1970.

    This comes on the heels of statements from SEC Chair Paul Atkins, who suggested that only a small number of tokens could be classified as securities, depending on how they are packaged and marketed.

    Crypto Legislation’s Thanksgiving Deadline

    The bill also takes a stance on combating illicit financial activities associated with digital assets. It mandates new regulations for anti-money laundering (AML) efforts and countering the financing of terrorism.

    The draft unveils that one of the most pressing challenges in developing a robust digital asset market is determining how traditional banks and financial institutions fit into this evolving ecosystem. 

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    An increasing number of banks such as Morgan Stanley, Citigroup, and Bank of America, are now considering the integration of crypto assets, particularly stablecoins, as a means to overcome traditional payment barriers. 

    The proposed legislation aims to address this issue by explicitly allowing banks and financial holding companies to engage in a variety of digital asset activities, including custody and trading.

    During a recent conversation at the SALT conference in Jackson Hole, Wyoming, Senator Lummis expressed her confidence in the crypto bill’s momentum, stating, “We will have it on the President’s desk before Thanksgiving.” 

    The daily chart shows the total crypto market cap at $3.81 trillion. Source: TOTAL on TradingView.com

    Featured image from DALL-E, chart from TradingView.com

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    Ronaldo Marquez

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  • Bitcoin Risks Drop Below $110,000 Despite Bounce – Is A 15% Pullback Coming?

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    Bitcoin (BTC) is attempting to reclaim a crucial level as support after bouncing from the recent drop below $115,000. Nonetheless, some analysts warned that the cryptocurrency is entering a corrective phase with a potential 15%-25% drop.

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    Bitcoin Risks Drop Below $110,000

    On Monday, Bitcoin fell below the $115,000 level for the first time in nearly two weeks, retesting the $114,500 support before bouncing. The flagship crypto has been hovering between its local price range since August 7, hitting its latest all-time high (ATH) of $124,200 before ultimately being rejected from the range highs.

    Now, some market watchers have affirmed that BTC has entered a corrective phase, which could send the cryptocurrency below other crucial support levels. Ali Martinez noted that the recent rejection “came in the form of a deviation, which often signals weakness and opens the door for deeper pullbacks.”

    According to the analyst, Bitcoin has been trading within the $112,000-$122,000 price range, suggesting that the local bottom is the next key support level to watch as momentum leans bearish.

    BTC targets the range lows after rejection. Source: Ali Martinez on X

    Notably, the cryptocurrency immediately bounced from today’s drop, reclaiming the recently lost $116,500 breakout level, and nearing the $117,000 area again. To the analyst, a confirmed rebound could reset bullish momentum, sending the price to the range highs.

    However, if BTC’s price drops again and the $112,000 support doesn’t hold, the cryptocurrency risks triggering a $4,000 drop to the $108,000 area. Martinez highlighted that on-chain data shows a liquidity grab between these two levels.

    Additionally, the Accumulation Trend Score, which dropped to 0.20, signals that holders are “redistributing their Bitcoin rather than accumulating at these levels.”

    Has The Price Discovery Correction Begun?

    Analyst Rekt Capital pointed out that BTC failed to hold the crucial $119,000 level as support on the weekly chart, closing on Sunday below its weekly bull flag pattern that had been developing since early July.

    According to a previous analysis, turning the pattern’s bottom into resistance would be a bearish retest that would confirm the breakdown from the pattern, and potentially lead to a new retest of the $112,000 area.

    Amid its recent performance, he asserted that Bitcoin has entered its second Price Discovery Correction, which has historically followed the second Price Discovery Uptrend peak, between weeks 5-7.

    “Interestingly, the upside wick that formed last week developed right at the finish line in Week 6 before pulling back. This upside wick was crucial because it came to save the historical cyclicality that we tend to see in price action across cycles,” the analyst explained, as the previous ATH formed in Week 2 of the second uptrend.

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    Rekt Capital suggested that Bitcoin could be transitioning into a corrective period. Nonetheless, he noted that this corrective might not last as long as previous corrections, as at this moment of the 2017 and 2021 cycles, BTC pullbacks lasted between 1-3 weeks and were 25% and 29% deep, respectively.

    “In both cases, these pullbacks were shorter and shallower by the standards of the previous corrections in the respective cycles,” he detailed, concluding that BTC must “ideally resolve this pullback over the next handful of weeks and perform a relatively shallow pullback of -15% to -25%.”

    Bitcoin, btc, btcusdt
    Bitcoin trades at $116,460 in the one-week chart. Source: BTCUSDT on TradingView

    Featured Image from Unsplash.com, Chart from TradingView.com

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    Rubmar Garcia

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  • Bitcoin Price To Go ‘Vertical’ Towards $200,000 As Crypto Analyst Points Out Massive Cup And Handle Pattern

    Bitcoin Price To Go ‘Vertical’ Towards $200,000 As Crypto Analyst Points Out Massive Cup And Handle Pattern

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    Este artículo también está disponible en español.

    The Bitcoin price could see its price surging dramatically to $200,000, with the formation of a new Cup and Handle pattern. While the pioneer cryptocurrency has been slowly recovering from bearish trends to reach the $70,000 mark, a rally to $200,000 would mark a historical milestone and a new All-Time-High (ATH) for BTC. 

    Technical Pattern Signals $200,000 Rally Ahead

    Popular crypto analyst, Mags has unveiled a new technical pattern in the Bitcoin price chart. According to his post on X (formerly Twitter), Bitcoin is currently forming “a massive cup and handle pattern,” indicating a potential for a major rally. 

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    Mags revealed that the Bitcoin price has just moved past the handle portion in the technical pattern, indicating a positive signal for a breakout that could start a bullish phase. As its name suggests, a Cup and Handle pattern is a key technical chart pattern that resembles a cup and handle. In this chart pattern, the cup is in the shape of a U and is considered a bullish signal, while the handle represents a slight downward drift, which indicates a potential buying opportunity to go long. 

    Source: X

    Mags observed that since Bitcoin has just broken past the handle, the next level is to watch the “neckline” which serves as a resistance point. If Bitcoin can break through the neckline, it’s price could surge dramatically or like the analyst says “go vertical.” This bull rally could see Bitcoin’s price driving towards $200,000, marking a new all time high for the cryptocurrency.

    Currently, the price of Bitcoin is trading at $66,972, reflecting a slight 2.02% decrease in the past seven days, according to CoinMarketCap. While Mags has projected a $200,000 price increase for Bitcoin, the analyst has also forecasted even higher price targets in previous X posts, suggesting that a $200,000 price level may be conservative for the world’s first and largest cryptocurrency. 

    Bitcoin Price Peak Set At $300,000

    In another X post on October 24, Mags disclosed that Bitcoin is about to enter its price discovery, suggesting an imminent breakout to new levels. Price discovery is the process by which an asset’s true market value is determined, and for Bitcoin, it suggests when its price could reach fresh highs.  

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    Sharing a historical Bitcoin price chart, the analyst pinpointed instances where the cryptocurrency entered a price discovery before reaching a peak. In 2014, BTC hit a peak, then bottomed out in 2015 before reaching another price high in 2018. A similar price action occurred between 2019 and 2024, with BTC achieving a bottom in 2019 and peaking in 2021. 

    Bitcoin price 2
    Source: X

    Following this historical price trend, Mags indicated that Bitcoin hit its bottom in 2023 and is now about to enter its price discovery. Once the cryptocurrency does, it could signal a surge to a new all-time high, which Mags has set at an impressive $300,000. 

    Bitcoin price chart from Tradingview.com
    BTC price struggles to hold $67,000 | Source: BTCUSD on Tradingview.com

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  • Bitcoin Cup And Handle Cascade: Analyst Says BTC Price Could Reach $230,000 If It Follows This Structural Path

    Bitcoin Cup And Handle Cascade: Analyst Says BTC Price Could Reach $230,000 If It Follows This Structural Path

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    A crypto analyst has projected a significant break to the upside for Bitcoin, drawing parallels to similar breakouts in traditional assets in the tune of the Gold and the S&P500. According to a technical analysis of the current price action, Bitcoin is playing out a cup and handle pattern, which could send it surging to bullish price targets above $230,000. 

    Bitcoin Cup And Handle Cascade

    According to a technical analysis, Bitcoin appears to be forming a textbook cup and handle pattern on the largest timeframe, which is a bullish continuation pattern that often leads to a major price rally. This formation typically indicates a period of consolidation followed by a breakout to the upside, and if the pattern fully plays out, Bitcoin could surge to new heights. 

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    In a recent analysis shared on the social media platform X, technical analyst Gert van Lagen compared Bitcoin’s ongoing cup and handle formation to similar patterns observed in Gold and the S&P 500. Van Lagen pointed out that Gold experienced a comparable setup of the formation of the cup and handle, which ultimately led to a full-scale bull rally in 2023. This breakout pushed Gold to new highs which has continued up until the time of writing, with Gold now trading above $2,730 in its history.

    Similarly, the analyst highlighted a similar cup and handle pattern in the SP500, which eventually led to a rally that kickstarted in late 2023 and culminated in new peaks for the index.

    Van Lagen emphasized that Bitcoin has been tracing out a similar pattern since the 2022 bear market. The “cup” portion of the formation was completed when Bitcoin reached its all-time high back in March. Now, Bitcoin is in the process of forming the “handle” part of the pattern, as the cryptocurrency has yet to revisit its all-time high over the past seven months. 

    Should the handle formation conclude and a breakout occur, Bitcoin could be on the verge of a strong rally, much like Gold and the S&P 500 experienced during their respective runs. 

    BTC To $230,000

    According to van Lagen, Bitcoin is “poised to follow the structural path of SP500 & Gold.” In terms of a price target, he predicted a target of $230,000 for Bitcoin.

    At the time of writing, Bitcoin is trading at $67,350. Reaching the $230,000 price level would necessitate a 197% price increase from the current price.

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    Interestingly, van Lagen’s forecast is just one of several bullish outlooks resurfacing as Bitcoin’s price has shown positive momentum since the second week of October. Bitcoin is up by about 13.5% from $59,500 on October 10, which has prompted a return of bullish sentiment.

    According to a report, this has caused a rise in Bitcoin accumulation by long-term holders, who now hold about 2.9 million BTC. Another analyst noted that Bitcoin is on track to double in value and reach $130,000 by January 2025 

    BTC bears still pushing for control | Source: BTCUSD on Tradingview.com

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  • Worldcoin Drops 6% Amid Alameda Research 1.5M WLD Sell-off

    Worldcoin Drops 6% Amid Alameda Research 1.5M WLD Sell-off

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    Worldcoin, the crypto project co-founded by OpenAI’s CEO Sam Altman, recently saw its token’s price drop over 6% following Alameda Research’s continued sales. Some analysts believe WLD’s price could continue to move sideways before recovering its bullish momentum.

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    Alameda Goes On A Worldcoin Sell-off

    On-chain data analysis firm SpotOnChain revealed that Alameda Research has sent part of its WLD holdings to crypto exchanges for the past two months. The report shared that, since early August, FTX’s sister company has transferred 1.56 million WLD tokens to Binance.

    The firm has sent around 143,770 WLD tokens, worth around $2.51 million, every week since August 9, selling the tokens in 10 batches at an average price of $1.6. The news came two days after US Bankruptcy Judge John Dorsey approved FTX’s repayment plan.

    The approval allows the crypto exchange to pay customers between $14.7 billion and $16.5 billion in recovered crypto assets. Alameda received around $8 billion of FTX users’ misappropriated funds, allegedly used for the fund’s trading operations.

    Some suggest that the sell-off is linked to FTX’s repayment plan, which is expected to start soon and could signify further selling pressure from the companies. Per SpotOnChain’s report, Alameda’s wallet holds 23.44 million WLD tokens worth around $43 million.

    At its current selling rate, it could take over three years to completely unload Alameda’s Worldcoin holdings. Additionally, other altcoins could face selling pressure from the company.

    The wallet holds $98.8 million in other cryptocurrencies, including 100.9 million Stargate Finance (STG), 1.78 million Mantle (MNT), and 98.86 million BitDAO (BIT), now MNT. The company’s BIT holdings, valued at $68 million, could start being sold in November, as the 3-year no-sale commitment with BitDAO ends.

    WLD Price Reacts To The News

    Following the sell-off report, Worldcoin saw a 6% dip in the daily timeframe. The token’s price dropped from the $1.98 mark to the $1.77 support zone in the last 24 hours, representing a 4.5% decline in WLD’s biweekly performance.

    The cryptocurrency registered a remarkable 31% weekly surge in late September after Worldcoin announced its expansion to three new countries. As reported by NewsBTC, the crypto project revealed it was bringing its World ID services to Guatemala, Poland, and Malaysia.

    The news, alongside the crypto market’s recovery, propelled the token’s price above the $2 mark, which was momentarily held. Since then, the token has struggled to reclaim the key support zone, hovering between $1.58-$2.03 levels for the past week.

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    Crypto analyst Yuiry from BikoTrading noted that WLD’s price retested the $1.5 crucial level after October 1’s drop, bouncing around 33% from this level. As the token continues trying to retest the $2 resistance level, the analyst expects it to move within its new $1.8-1.98 range for a few days before breaking above it.

    As of this writing, WLD is trading at $1.8, an 8.7% and 27.4% increase in the weekly and monthly timeframes.

    Worldcoin (WLD) performance in the weekly chart. Source: WLDUSDT on TradingView

    Featured Image from Unsplash.com, Chart from TradingView.com

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    Rubmar Garcia

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  • Crypto Capo Returns After 2 Months To Predict Ethereum Decline To $1,800, Is It Time To Go Long?

    Crypto Capo Returns After 2 Months To Predict Ethereum Decline To $1,800, Is It Time To Go Long?

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    Popular crypto analyst Il Capo of Crypto has returned to social media platform X after over two months of hiatus to drop an interesting outlook for Bitcoin and Ethereum in the coming months in light of the recent correction since the beginning of October. The analyst, which has been so big on a looming altseason since the beginning of the year, has revealed a bearish outlook for Bitcoin and even Ethereum (king of altcoins) in the short term.

    Known for his sometimes controversial and often contrarian predictions, Capo returned just as the market experienced a notable correction in October, sharing his bearish outlook for both Bitcoin and Ethereum. His latest prediction is that Ethereum could plummet as low as $1,800 before seeing any substantial recovery.

    ETH’s Predicted Decline

    Ethereum has already dropped by 10% in the past seven days and is currently trading around around $2,330, but according to Capo, this decline could worsen. He predicted that ETH might fall further into the $1,800 to $2,000 range, which is a possible 23% dip from its current price, before eventually rebounding. However, he believes an altcoin season will still materialize. 

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    Capo’s track record of analysis since the beginning of the year shows a consistent belief in the upcoming dominance of altcoins. Throughout 2024, he has repeatedly emphasized the potential for altcoins, particularly Ethereum, to outperform Bitcoin as profits generated from BTC flow into smaller assets. However, the altcoin season has yet to materialize, and Bitcoin has continued to dominate the crypto investment scene.

    Time To Go Long On Ethereum?

    It’s worth noting that Crypto Capo’s predictions often have a certain lore attached to them. There is a running joke among some investors that whenever Capo makes a prediction, the market tends to do the opposite. This goes as far back as his prediction of Bitcoin falling to $12,000 last year, but the crypto eventually broke past resistance levels. Now, with Capo predicting the possibility of continued decline for Ethereum and Bitcoin amid October’s bullish market sentiment (often dubbed “Uptober”), it raises the question from many investors if his bearish call is far-fetched.

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    Only time will tell if the market plays out according to Capo’s analysis. However, given the current inflow of investments and the crypto market, which has mostly rallied in October, it wouldn’t be surprising if Ethereum rebounds rather than experiences the significant drop Capo is forecasting.

    Naturally, many savvy whales and traders have seen the current decline as an opportunity to “go long” and accumulate more Ethereum in expectation of the resumption of inflows. This sentiment is reflected through the US Spot Ethereum ETFs, which witnessed $14.45 million in inflows yesterday despite the price correction.

    Interestingly, it is important to note that Capo’s analysis is only talking about a possible case and remains bullish for Ethereum in the long term. 

    ETH price drops sharply | Source: ETHUSDT on Tradingview.com

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  • Dogecoin Eyes Bullish 50% Rally To $0.16, But Will A Crash Come First?

    Dogecoin Eyes Bullish 50% Rally To $0.16, But Will A Crash Come First?

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    After a long stretch of muted price action, Dogecoin has finally entered a position where it could be gearing up for a surge. With major developments such as an increase in participation from both small and large investors, as well as indicators turning bullish, the DOGE price looks primed for a major recovery. However, there could be a small roadblock for the meme coin when it comes to achieving this uptrend as one analyst has pointed out the possibility of a further crash from here.

    A Crash Or A Surge For DOGE?

    Crypto analyst Ali Martinez has presented a forecast for the Dogecoin price with mixed signals for the future. The analysis focuses on both the bullish and bearish possibilities for the meme coin as it continues to trade in a trading range. Both of these scenarios are possible, with the Stochastic RSI may win out this time.

    According to the analysis, the Stochastic RSI has made a bearish crossover for the Dogecoin price. This bearish crossover suggests that there is a price crash coming for the altcoin. In this case, the DOGE price could be falling below $0.1 again. Not only this, but Dogecoin may lose around 15% of its value if this bearish scenario were to play out. This could see the DOGE price fall as low as $0.087 in the worst case scenario.

    On the flip side, the Dogecoin price is also showing some bullish tendencies, as the crypto analyst points out. The price is apparently “flirting with a bullish breakout,” which could be significant if it plays out. In this case, the bullish breakout could see the meme coin’s price rise as high as $0.16 and that would mean a 45% breakout from the current price.

    Dogecoin Looking For A Breakout

    The crypto analyst has previously presented bullish scenarios for the Dogecoin price but chalked it up to two key signals. The first of which is the RSI actually making a successful break out of the descending trending on the daily chart. Second of these is a break above the $0.11 resistance on the chart.

    One of these signals had been triggered, with the RSI breaking the descending trendline. However, that has since changed as the Stochastic RSI has actually turned bearish in the meantime. The DOGE price is still trending below $0.1, suggesting that bears are still well in control of the price.

    These developments show more potential for the Dogecoin price to actually crash from here before a recovery. But in the event of a market-wide recovery, DOGE could end up following the uptrend regardless.

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    Scott Matherson

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  • Ethereum Whales Spend $185 Million To Accumulate 70,000 ETH, Time To Buy?

    Ethereum Whales Spend $185 Million To Accumulate 70,000 ETH, Time To Buy?

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    Ethereum has largely mirrored Bitcoin in terms of price action and has yet to break out on its own accord in the past few months. According to price data, Ethereum is up by 13% in the past seven days, outpacing Bitcoin’s increase of 5.8% in the same time frame. Behind this interesting increase in Ethereum are some large Ethereum holders who seem to be increasing their holdings. 

    Notably, on-chain data from multiple analytics platform points to an uptick in activity from Ethereum whales in the past few days. Particularly, Glassnode data suggests large holders of Ethereum have added at least 70,000 ETH into their wallets since the beginning of last week.

    Ethereum Whales Spend Big On ETH

    The interesting Ethereum whale activity noted above is revealed through on-chain analytics platform Glassnode. As shown in the chart below, the number of Ethereum wallets holding 10,000 ETH or more has experienced a rise in the last 24 hours, increasing to 925 wallets. This marks a gain of about seven new whale wallets that have accumulated a huge number of ETH tokens, up from the 918 wallets recorded on September 18. 

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    Source: Glassnode

    Supporting this trend, additional data from IntoTheBlock (ITB) indicates a surge in activity from addresses holding substantial amounts of Ethereum. ITB tracks these movements through a specific metric that monitors the number and value of transactions exceeding $100,000. According to this metric, Ethereum whale activity has reached over $29 billion in the past seven days. While this figure accounts for both inflows and outflows from whale wallets, the sheer scale of these transactions is notable. Historically, such high levels of activity from large holders tend to be a bullish indicator for cryptocurrencies.

    This heightened activity is further reflected in the inflows of ETH into large holder wallets. On September 23, these inflows soared to 515,520 ETH, representing an impressive 440% spike compared to the 95,820 ETH recorded during the previous 24-hour period. 

    Time To Buy ETH?

    At the time of writing, Ethereum is trading at $2,626. As noted earlier, this is on the back of a 13% increase in the past seven days, prompting Ethereum’s overperformance over Bitcoin for the first time since the beginning of the year. The leading altcoin has mirrored Bitcoin’s movements so consistently that some analysts have questioned its potential for decoupling anytime soon.

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    Ethereum’s importance in the crypto industry means there’s never a bad time to accumulate more ETH. Ethereum just broke over $2,600 for the first time in September, which is the first step in a sustained move to the upside. The next key target is to break above $2,700 before the end of the month, which could pave the way for a push towards $3,000 in October.

    Ethereum price chart from Tradingview.com
    ETH price at $2,600 | Source: ETHUSDT on Tradingview.com

    Featured image created with Dall.E, chart from Tradingview.com

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    Scott Matherson

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