Tezos price prediction: a strong bounce could signal XTZ rally to $1.50

  • Tezos price is hovering near $0.60 amid a 4% surge in the past 24 hours.
  • XTZ eyes a potential bounce to above $0.70 as cryptocurrencies target gains.
  • If buying pressure holds, bulls will likely target $1.50, riding multiple bullish catalysts.

Tezos (XTZ) is among the altcoins showing signs of a potential rally as a 4.4% uptick in the past 24 hours helps bulls hold price above a key level.

While broader market sentiment remains fragile, Tezos’ price could benefit from increased on-chain activity and growing interest from developers and investors.

Tezos price pops 4% as bulls show resilience

In particular, the XTZ price has shown resilience as Tezos records notable DeFi growth.

Latest market data highlights a more than 4% increase in Tezos’ price over the past day, with this coming as buyers pile up near the $0.60 level.

Bullish sentiment even helped buyers retest the 0.62 mark.

The bullish momentum has been supported by a series of positive developments, including a partnership between the Tezos Foundation and the Museum of the Moving Image, as well as growing enthusiasm around the collaboration between Etherlink and Google Cloud.

Last week, the Tezos team shared details of key ecosystem metrics that showed growth.

Among these, Etherlink’s Total Value Locked (TVL) had increased to over $70 million, while Tezos DeFi TVL surpassed $36.7 million.

The blockchain network saw a 22.5% quarter-over-quarter growth in value, while Etherlink processed over 20.5 million transactions.

Highlighting EtherLink as key to Tezos’ future scaling, blockchain analytics platform Messari noted:

“I think we can agree that these numbers aren’t random spikes, they reflect a deliberate strategy. Most new integrations, liquidity programs, and incentives are being launched directly on Etherlink because it represents the future of Tezos’ scaling, the first runtime of the canonical rollup model.”

Messari published the report in late September.

Notably, the robust network activity has come amid user adoption across key protocols such as Curve, Superlend, Midas, Youves, and Sirius.

The surge in TVL and transaction volume suggests that builders are actively expanding within the Tezos ecosystem, a factor that could bolster investor confidence and help XTZ price.

Tezos price prediction: is $1.50 next for XTZ?

Currently, XTZ price hovers near $0.59, with a 24-hour gain of over 3.3%.

Data shows the altcoin’s value has slightly dipped from intraday highs of $0.62.

However, bulls are trying to keep bears from revisiting the intraday lows of $0.57.

Tezos price chart by TradingView

From a technical point of view, Tezos is hovering near the resistance line of a falling wedge pattern.

Bulls have retested the area around $0.70 in recent weeks, and bouncing to this zone could allow for continuation to the $1.20 to $1.57 range.

The daily RSI is indicating a potential divergence. As of writing, the RSI is sloping near the neutral mark.

XTZ gains to $0.62 amid rising volume, suggesting buyers are eyeing a potential extension of the upside flip.

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KDA dips 60% as Kadena ceases operation; Check forecast

Key takeaways

  • Kadena Organization has ceased operations, citing current market conditions as the catalyst.
  • Its token KDA has tanked 60% in the last 24 hours and could drop further. 

Kadena Organization ceases operations

The organization behind the Kadena blockchain announced on Tuesday that it is no longer able to continue business operations and is now winding down.

In an X post, the team stated that they are unable to continue to promote and support the adoption of this unique decentralized offering due to the current market conditions. 

Kadena is a proof-of-work blockchain, and the team added that it will remain in operation until miners and maintainers depart. However, the team will cease all business activity and active maintenance immediately. 

There are roughly 566 million KDA tokens still to be distributed as mining rewards, and it will continue until 2139. Kadena has been around since 2019 after it was launched by two U.S. Securities and Exchange Commission and JPMorgan alums, Stuart Popejoy and William Martino. The two had previously helped launch the predecessor to JPMorgan Chase’s Kinexys blockchain.

KDA dips by 60%, could suffer further losses

The KDA/USDT 4H chart is extremely bearish, thanks to the token losing 60% of its value in the last 24 hours. It was trading at $0.24 on Tuesday but fell sharply to $0.087 after the Kadena Organization announced its discontinuation.

KDA/USDT 4H Chart

The technical indicators are extremely bearish, with sellers in control. The RSI off 35 shows that KDA is currently bearish and could enter the oversold region soon. The MACD lines are also within the negative region, indicating a bearish trend.

If the selloff continues, KDA could drop below the October 10 low of $0.057 over the next few hours. The token is down 99% from the all-time high of $28 recorded in November 2021. With no team in place, KDA could struggle to record gains in the medium to long term.

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Crypto slump worsens as Bitcoin slips amid a broad market sell-off

  • The crypto market’s October slump has worsened, with a 3% drop.
  • Bitcoin slipped below $110,000 and Ethereum fell below $3,900.
  • The market has lost roughly $370 billion in value this month alone.

The cryptocurrency market’s brutal October slump has worsened, with a fresh 3% drop sending Bitcoin below the key $110,000 level and dragging most major altcoins deep into the red.

The broad-based drawdown is the latest chapter in one of the harshest months of the year for the digital asset space, as a potent combination of thinning institutional support, technical disruptions, and simmering macroeconomic tensions creates a powerful “risk-off” wave.

The scale of the recent carnage is immense. The market has now erased roughly $370 billion in value this month alone, with as much as $19 billion in leveraged positions being liquidated.

Futures open interest has also been decimated, with $65 billion wiped out, resetting market activity to the levels of early 2025.

Institutional support thins as ETF outflows accelerate

A key driver of the recent weakness has been a dramatic and worrying reversal in institutional sentiment.

After months of powerful inflows, spot Bitcoin ETFs have become a source of intense selling pressure, posting a staggering $1.23 billion in weekly net outflows.

This included a massive $366 million outflow on Friday alone, a move that removed a critical layer of buying support from an already fragile market.

A perfect storm: an AWS outage and a SpaceX scare

This fundamental weakness was compounded by a perfect storm of technical and psychological blows.

A major outage at Amazon Web Services (AWS) disrupted access to a number of leading crypto venues, including the US giant Coinbase and several DeFi front-ends.

The disruption widened spreads and accelerated forced liquidations, with over $240 million in long positions being wiped out in just 24 hours, a move that briefly pushed Bitcoin toward $107,500.

Market nerves were frayed further after on-chain trackers flagged a large transfer of 2,395 BTC ($268 million) from a wallet associated with SpaceX.

While analysts suggested the flows were likely internal custody reshuffles, the timing sparked a wave of “Is Musk selling?” headlines, adding another layer of fear to an already anxious market.

What to watch next as the market hangs in the balance

Technically, the market is now at a critical inflection point. Bitcoin is facing a thick layer of resistance between $112,000 and $115,500, with key support levels now sitting at $108,000 and $105,000.

A decisive daily close back above the 50-day moving average (around $113,000) is needed to stabilize the market. Failure to do so keeps the psychological $100,000 zone firmly in play and raises the risk of a much deeper bearish phase.

The near-term catalysts remain firmly in the macroeconomic arena, with the upcoming US CPI print and any fresh hints from the Federal Reserve on interest rates likely to be the next major market-moving events.

For now, a battered and bruised crypto market is left to lick its wounds and wait for the storm to pass.

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