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Tag: Price Analysis

  • Analyst sees potential XRP breakout

    Analyst sees potential XRP breakout

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    In his daily YouTube video posted on Dec. 4, the crypto analyst behind the popular CryptoTV channel predicted that several top cryptocurrencies are poised for a major breakout.

    The analyst pointed to recent price action in assets like Bitcoin (BTC), Ethereum (ETH), and XRP as early confirmation that the anticipated rally is underway.

    As you guys can see across the board with these cryptos, we are breaking out.

    Specifically, the analyst believes Bitcoin could continue running higher after two days of closing above what he identifies as a key “ascending fractal” resistance level. However, he cautions that Bitcoin is nearing overbought territory on the relative strength index (RSI).

    Similarly, in the analyst’s view, Ethereum exhibits a bullish setup following two daily closes above a “major price ceiling.” He says he has taken a leveraged long position in Ethereum to capitalize on this move.

    The analyst seems most enthusiastic about the prospects for the XRP token. He highlights how XRP appears to be breaking out from a “bull flag” technical pattern that has preceded major uptrends multiple times over the past year.

    If history repeats, the analyst suggests XRP could ascend to price targets soon. Still, he notes the journey higher may be volatile given XRP’s tendency for “major swings” in price action.

    We are easily expecting prices to hit 70, maybe even 83 cents with ease on XRP. So keep your eyes peeled on this because this is the breakout.

    Overall, the crypto analyst cites improving technical indicators and breaking of key overhead resistance levels as reasons he foresees sustainable uptrends ahead across the crypto market.


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    Adrian Zmudzinski

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  • Crypto investors are falling into a trap: analyst

    Crypto investors are falling into a trap: analyst

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    In a recent video, the analyst behind the popular Crypto Banter channel warned viewers that crypto investors are currently falling for “one of the biggest traps ever.” However, he also outlined a scenario in which Bitcoin could be on the cusp of a major breakout.

    It’s the oldest trick in the book. […] I’m gonna outline why you should not fall for that trap and how you can identify what it may look like.

    The potential trap relates to the relative strength index (RSI), a technical indicator that measures the momentum and velocity of price changes in an asset. The crypto analyst explained that many retail investors mistakenly view low RSI readings as a sign of weakness and an indication to exit positions.

    However, the analyst believes this is a misunderstanding of what low RSI levels signify. Looking back historically, some of Bitcoin’s (BTC) largest rallies have kicked off after the RSI dipped into oversold territory below 30.

    It’s not a sign of weakness. It’s not a sign of exhaustion. It’s a sign of strength within the market.

    In addition to presenting a bullish case based on historical RSI trends, the analyst also pointed to MicroStrategy’s recent $750 million Bitcoin purchase as a potential catalyst. MicroStrategy’s buy marked its third largest Bitcoin acquisition ever.

    The analyst believes there are parallels between current conditions and previous instances when significant institutional purchases helped ignite further buying and price rises. If history repeats, a surge of “institutional FOMO” could be on the horizon.

    While laying out his bullish scenario, the analyst acknowledged Bitcoin could see a pullback first after failing to clearly break out above $40,000. But he expects any retracement to be limited before the uptrend resumes.

    As always in crypto, there are bullish and bearish cases to consider. But this analyst in particular sees the stars aligning for Bitcoin to leave what he believes is “one of the biggest traps ever” in the dust as it embarks on its next major rally.


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    Adrian Zmudzinski

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  • Analyst believes Bitcoin to go ‘parabolic’ soon

    Analyst believes Bitcoin to go ‘parabolic’ soon

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    In a recent YouTube video, George, the crypto analyst behind the CryptosRUs channel shared his bullish Bitcoin price predictions. He believes Bitcoin is poised to continue trending upwards based on improving fundamentals and favorable market conditions.

    Specifically, George cited an analysis from Standard Chartered Bank, which has over $500 billion in annual revenue. Their analysts predicted Bitcoin reaching $120,000 by 2024 for two key reasons — supply shocks from Bitcoin (BTC) miners holding more coins post-halving and increased demand from spot Bitcoin ETF approvals.

    It always comes down to supply and demand, supply and demand, right? And demand keeps on going up, spot Bitcoin ETFs will bring more demand, and then supply for Bitcoin keeps going down.

    The crypto analyst points to charts showing Bitcoin’s recent 33-day uptrend and forming higher highs and higher lows. He gives a “75% probability” that Bitcoin ends 2023 between $40,000 and $45,000, calling the current minor pullback just “moving according to plan.”

    Other positive metrics George highlighted include a parabolic indicator flipping green right before previous Bitcoin rallies, all-time highs in addresses holding the minimum threshold of Bitcoin, and surging open interest in Bitcoin futures and options.

    I don’t know how anyone can be bearish.


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    Adrian Zmudzinski

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  • XRP Bulls Eyeing $40 Price Target, Despite Doubts

    XRP Bulls Eyeing $40 Price Target, Despite Doubts

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    Renowned cryptocurrency analyst Dark Defender, with a substantial following of nearly 100,000 individuals on platform X, has drawn attention to the emergence of a “cup and handle pattern” in the daily time frame of the cryptocurrency XRP.

    Based on his analysis, provided that the token maintains a closing price above the support level of $0.604, XRP has potential for a positive upswing towards the price goals of $1.05 and $1.88.

    Although Dark Defender’s projection has all the bullish elements to give XRP some badly needed boost in price, another analyst’s estimation also provides a great deal of importance.

    XRP Upward Trend And Institutional Investments

    In a world where predictions are often uncertain, the assurance made by prominent cryptocurrency analyst EGRAG provides another straightforward perspective, suggesting that the journey to a $40 XRP might be less complicated than skeptics think.

    The price of XRP remained over the $0.60 threshold during the early hours of Tuesday. The alternative cryptocurrency is currently seeing an upward trend, accompanied by an increase in the amount of capital being invested by institutional investors into XRP funds.

    In recent weeks, there has been a notable trend of significant wallet investors divesting their XRP token holdings, while retail traders have concurrently demonstrated an inclination towards acquiring the altcoin. This phenomenon has contributed to the development of a positive outlook for XRP.

    The price of XRP is currently $0.6105, 1.8% less than it was a day ago. Despite the continued downturn, interest in the asset is increasing; transaction volume has increased by 25% in the past day to around $1.2 billion.

    Total crypto market cap is currently at $1.39 trillion. Chart: TradingView.com

    Implications Of The Ascending Triangle For XRP’s Future

    One of his most recent updates on XRP, where he drew attention to the asset’s moves on the weekly chart, demonstrates his ongoing bullishness. XRP is presently trading inside an ascending triangle that has been there since 2018, according to EGRAG’s chart.

    An ascending triangle is a bullish pattern in technical analysis, formed by a horizontal resistance line and a rising support trendline. It indicates a market where buyers are consistently pushing the price higher against a specific resistance level.

    Traders anticipate a potential upward breakout at the triangle’s apex, signaling a continuation of the existing uptrend. This pattern is often seen as a sign of increasing buying pressure.

    (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

    Featured image from Pexels

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    Christian Encila

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  • Analyst details potential BEAM price volatility

    Analyst details potential BEAM price volatility

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    The price of Beam (BEAM), the native cryptocurrency of the Beam gaming network, has seen significant unpredictability in recent days according to a popular YouTube crypto analyst.

    In a video posted to the CryptoWorld YouTube channel on Nov. 20th, the analyst explained that BEAM had increased its price 11% in the last 24 hours before crashing back down. However, the analyst believes BEAM is positioned for another leg up after forming a head and shoulders pattern on the technical chart.

    The crypto analyst believes Beam is on the verge of a major price movement based on technical analysis. He stated that Beam has formed a head and shoulders pattern, which from a technical perspective suggests a crash is imminent.

    The analyst predicts the Beam price will crash from its current level of $0.0093 down to his target of $0.0083 within the next 3-4 hours. The analyst recommends traders “do it short and print money like a machine” to capitalize on this impending price drop.

    The analyst’s price target represents a significant loss from current levels. He recommended traders take a short position and “print money like a machine.”

    BEAM is the native cryptocurrency of the Beam gaming ecosystem, which is built and governed by the Merit Circle decentralized autonomous organization (DAO). The network aims to bring developers and gamers together to shape the future of blockchain gaming.

    The BEAM token serves multiple purposes on the network. It acts as a gas token to pay for transactions and interactions with smart contracts. BEAM also gives holders governance power over the Merit Circle DAO.

    The analyst’s BEAM price target comes amid growing enthusiasm around blockchain gaming. However, the extreme volatility highlights the risky nature of cryptocurrency investments. Traders should exercise caution and only risk capital they can afford to lose.


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    Adrian Zmudzinski

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  • Double-edged sword: massive gains or collapse for XRP?

    Double-edged sword: massive gains or collapse for XRP?

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    A recent YouTube video by crypto analyst Austin Hilton highlights a potential watershed moment for XRP that could dramatically impact the cryptocurrency’s future.

    The catalyst is the staggering $33 trillion national debt held by the United States government. While a default is unlikely, the compounding debt is likened to a “death spiral scenario.” Analysts have warned this precarious financial position could lead to a collapse of the U.S. monetary system.

    Bitcoin is often viewed as a “flight to quality” asset in times of economic turmoil. Investors fleeing stocks and fiat currencies tend to pour money into scarce digital assets like Bitcoin (BTC) and Ethereum (ETH). As the flagship cryptocurrency, Bitcoin typically benefits first, followed by Ethereum and major altcoins like XRP.

    While a collapse would likely drive investment into cryptocurrencies, Hilton cautions this would have disastrous consequences globally. A failing U.S. economy hurts everyone, but noted investor Ray Dalio has suggested Bitcoin could serve as a haven amid impending economic doom.

    Hilton explains this is a double-edged sword for XRP. A monetary crisis would spur massive inflows and gains, but could also destabilize societies and economies worldwide. Recent inflation has already drained over $2 trillion from the crypto market cap. Further economic deterioration may only exacerbate crypto’s woes.

    Yet if the economy holds, upcoming developments like a spot Bitcoin ETF and the next Bitcoin halving event could also ignite XRP’s price independent of any financial system turmoil. Hilton believes XRP remains undervalued regardless, given the utility of Ripple’s payments network.

    In the near-term, money appears to be cycling back into crypto from stocks. Bitcoin and Ethereum have seen gains, while XRP trades sideways around resistance. As capital returns it flows first into established assets like Bitcoin before trickling down into altcoins.


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    Adrian Zmudzinski

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  • Solana trading volume surges amidst market rally

    Solana trading volume surges amidst market rally

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    Solana (SOL) becomes the most traded altcoin in US exchanges this year. 

    Solana (SOL) is witnessing a dramatic climb in trading volume, outshining other altcoins on exchanges accessible in the United States over the current year.

    Leading exchange, Coinbase strategically increased its holdings by acquiring 2.2 million SOL tokens on Oct. 18. Since then, SOL is up by over 35%. In contrast, South Korea’s prominent exchange, Upbit, sold nearly 4 million SOL tokens.

    SOL’s monthly price chart

    What’s driving Solana (SOL)?

    A surge in network activity, particularly within liquid staking token protocols such as Jito, has contributed partially to Solana’s price acceleration, according to the data from Kaiko Research. As a prominent alternative Layer 1 (alt L1) blockchain, Solana is frequently juxtaposed with Ethereum (ETH), and the recent months have seen Solana outshine its counterpart. The comparative ratio of SOL to ETH has escalated from 0.011 in September to approximately 0.025, surpassing pre-FTX crisis levels.

    Coinbase has spearheaded the net buying spree, with market purchases of Solana tokens since the rally’s inception. While Binance initially trailed, it soon ramped up market buying, reaching a cumulative volume delta (CVD) of 1.9 million since that date.

    In the broader context, SOL has outperformed other popular altcoins such as Dogecoin (DOGE), Litecoin (LTC), Polygon (MATIC) and Ripple (XRP) in trading volumes across exchanges available in the U.S., securing its position as this year’s favored alternative digital asset among U.S. traders.

    SOL is up by nearly 75% in a month. 


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    Mohammad Shahidullah

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  • NEO reaches 36-week high while short-positions rise

    NEO reaches 36-week high while short-positions rise

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    NEO gained bullish momentum after over eight months as Bitcoin (BTC) surpassed the $30,000 mark on Oct. 19. 

    The asset reached $15.3 on Nov. 5, marking a 36-week high — NEO reached $15.5 in mid-February. The native crypto of the Chinese blockchain Neo, which once competed with the second-largest blockchain, Ethereum (ETH), has gained bullish momentum after eight months of constant declines.

    According to data from the market intelligence platform Santiment, NEO’s social volume skyrocketed over the past week — marking an 800% surge in the past seven days. 

    NEO price, social volume, Binance funding rate and open interest – Nov. 6 | Source: Santiment

    Moreover, data from Santiment shows that the Binance futures funding rate for Neo has reached 0.05%. In simple terms, this indicates that short-position holders are dominating long-position holders until major movements happen.

    As the token reaches its local top, NEO’s total open interest (OI) witnessed a 68% rise in the past 24 hours. According to the market intelligence platform, Neo’s total OI in derivatives contracts has reached $44.3 million.

    However, while the Binance funding rate suggests the dominance of short positions, the exact amounts of short and long positions are still not precise.

    NEO is up by 17.6% in the past 24 hours and is trading at $13.66 when writing. It’s important to note that the asset registered a 91% rise over the past 30 days.

    Data shows that the total market cap of NEO is currently sitting at $963 million, making it the 50th largest cryptocurrency. Neo’s 24-hour trading volume surged by 316%, reaching $613 million.


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    Wahid Pessarlay

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  • Cardano grows 36% in the past two weeks, 6th in gainers

    Cardano grows 36% in the past two weeks, 6th in gainers

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    Cardano continues to report growth this week, currently sitting at number 6 for top gainers in today’s CoinMarketCap report.

    Santiment shows that the surge that has occurred this week comes alongside Cardano address activity and whale transactions being at the highest they have been in more than three months.

    Double digit growth

    The Nov. 2 post on X from Santiment, the behavior analytics platform for cryptocurrencies, Cardano, was reported to have grown 9% on Nov. 2 and 4.24% on Nov. 3, totalling 36% over the previous two weeks.

    Top Crypto Gainers and Losers Today | Source: CoinMarketCap

    At the same time, Cardano address activity has grown 23% in the past three weeks, reflecting growth in the platform’s usage and adoption, while whale activity has grown 32% in the same time period.

    CoinMarketCap reports that Cardano currently sits at $0.3208 at the time of writing. 

    A partner chain announcement

    Growth comes at the same time as the announcement from the Cardano Summit 2023, in which the founder & CEO shares a new framework that will allow developers to build their own partner chains.


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    Sarah Jansen

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  • Fidelity executive calls Bitcoin “exponential gold”

    Fidelity executive calls Bitcoin “exponential gold”

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    Fidelity Investments executive Jurrien Timmer compares Bitcoin to “exponential gold,” emphasizing its potential to surpass gold’s value in response to certain economic conditions.

    Fidelity Investments’ Director of Global Macro Jurrien Timmer offers a perspective that sees Bitcoin as an “exponential gold,” highlighting its potential to outpace the value increase of gold under specific economic scenarios.

    The value of Bitcoin has been rising, spotlighting its potential not merely as a form of digital money but also as a possible protective asset during economic turbulence. Advocates for Bitcoin suggest that it could serve as a financial safe place in times marked by rampant inflation, sub-zero real interest rates and surging money supply.

    This perspective draws parallels with eras like the 1970s and 2000s, when gold proved to be a robust investment, implying that Bitcoin could meet or exceed gold’s historical performance in safeguarding value.

    Timmer’s expertise, backed by nearly three decades at Fidelity, informs his bullish stance on Bitcoin. His forecast, made in 2021, predicted Bitcoin’s market price (BTC) could soar to $100,000 by 2023, a significant jump from its current price point of approximately $34,920.

    Fidelity’s engagement with cryptocurrency extends beyond mere speculation. The firm boasts a specialized branch, Fidelity Digital Assets, which provides custody and trading services for Bitcoin and Ethereum (ETH). Earlier in the year, the platform quietly expanded to offer retail customer access, signaling a broadening interest and adoption.

    Moreover, Fidelity has been proactive in seeking regulatory approval for cryptocurrency-based financial products. The company recently filed a new application for a spot Bitcoin exchange-traded fund, following its initial attempt in 2021.

    This move comes as part of a larger industry trend, with asset management behemoths such as BlackRock, WisdomTree, and Invesco also in the queue, awaiting the Securities and Exchange Commission’s decision on multiple Bitcoin ETF applications.


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    Bralon Hill

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  • Bernstein predicted Bitcoin’s growth to $150k by 2025

    Bernstein predicted Bitcoin’s growth to $150k by 2025

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    The price of the first cryptocurrency could rise to $150,000 by January 2025 due to the approval of spot Bitcoin (BTC) ETFs in the United States.

    As reported by CNBC, citing a Bernstein forecast, the bullish estimate for digital gold quotes is almost five times higher than the current rates above $34,000, where the asset has consolidated after testing the $35,000 mark. The forecast is also more than double the all-time high of $69,000 achieved by the BTC in November 2021.

    Bernstein senior analyst Gautam Chhugani believes the SEC will approve the first Bitcoin ETFs in early 2024. This product will allow ordinary investors to access cryptocurrency directly from their investment portfolios.

    According to the expert, as a result, Bitcoin funds will accumulate up to 10% of the total supply of digital gold. So far, the only such instrument on the market is Bitcoin Trust (GBTC) from Grayscale, which accounts for about 3% of the issue.

    “A good idea is only as good as its timing – SEC approved ETFs by world’s top asset managers (BlackRock, Fidelity, et al), seems imminent.”

    Gautam Chhugani, Bernstein senior analyst

    The expert made his forecast in a report in which he analyzed the activities of several mining companies in light of the approaching Bitcoin halving. According to Chhugani, the halving of the block reward, expected in April, will “wash out” weak players from the industry. However, this will open the way for “survivors to greater profits,” he emphasized.

    Previously Crypto services provider Matrixport insisted Bitcoin is still on track to reach $45,000 by the end of the year. Experts believe BTC futures funding rates stay “sky-high,” signaling a “FOMO-driven market.”


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    Anna Kharton

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  • Bitcoin blasts through key resistance not seen since 2018

    Bitcoin blasts through key resistance not seen since 2018

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    Crypto analyst Jason Pizzino said in a recent YouTube video that Bitcoin (BTC) has broken above a key monthly resistance level for the first time since the 2018 bear market.

    Pizzino said Bitcoin closed above the monthly swing high from November 2018, marking the first time it has broken this resistance since the collapse after the 2017 bull market peak.

    The monthly swing tops are very, very important to this cycle. […] This essentially tells you the trend direction.

    Jason Pizzino

    Pizzino believes this breakout signals Bitcoin has likely bottomed from the latest bear market and is entering a new bullish phase. He pointed to the Wyckoff accumulation schematic, saying Bitcoin’s price action matches the typical phases coming off a low.

    We can now almost confidently say that for the majority of people that this was a market cycle bottom in November.

    Jason Pizzino

    The analyst expects Bitcoin to trade in a range between $32,000 and $48,000 over the next eight-to-11 months. This is based on the 50 percent retracement levels from the 2018 and 2022 swing highs and lows.

    Pizzino said previous bull markets also traded in a range near the 50 percent level for about two years before eventually breaking out and going parabolic.

    Mark these on your charts. Keep a look out for how the market reacts to these levels.

    Jason Pizzino

    Pizzino concluded the video by stating he believes Bitcoin could break above $50,000 by late 2024, around 12 months before the end of the current bull market cycle.


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    Adrian Zmudzinski

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  • Bitget’s Q3 surge defies market trends, sees over 9% boost in market share

    Bitget’s Q3 surge defies market trends, sees over 9% boost in market share

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    Bitget emerges resilient in Q3 2023, recording a significant 9.43% market share and exceptional performance for its native token BGB, despite challenging market conditions.

    Crypto derivatives and copy trading platform Bitget has weathered a challenging Q3 market with noteworthy resilience, according to its latest transparency report. While the overall industry saw a decline in spot and derivative trading volumes, Bitget’s market share climbed to an impressive 9.43% in September.

    Exceptional token performance

    Bitget’s native token, BGB, emerged as one of the top five platform tokens by market cap, registering a quarterly high of $0.4927 in September. The number of BGB holders also surged to 354,472 in Q3, while trading volume for the token exceeded $1.3 billion in the past three months.

    The platform has also reinforced its global expansion efforts. The report highlighted several strategic partnerships across tax reporting, portfolio management, and trading automation sectors, including alliances with Cointracking, Coinstats, CCData, Koinly, 3commas and Cobo Superloop, among others.

    Looking globally, the platform has disclosed ambitious expansion plans targeting the Middle East, specifically countries like Bahrain and the UAE. This comes alongside Bitget’s $100 million EmpowerX Fund, launched in September to fuel development within its Web3 ecosystem.

    Despite market uncertainties, Bitget’s Protection Fund remained robust, exceeding $300 million throughout Q3. The fund peaked at $368 million in July, increasing the platform’s over 200% Proof-of-Reserves ratio and adding an extra layer of security for users.


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    Mohammad Shahidullah

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