Monat: Mai 2026

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Chiliz targets new weekly highs as derivatives data flips bullish

Key takeaways

  • CHZ is up 5% in the last 24 hours and is now approaching the $0.05 resistance level.
  • The derivatives data indicate that the bulls are in control at the moment.

Chiliz outperforms the broader crypto market

Chiliz (CHZ) is one of the best performers among the top cryptocurrencies, as the coin is up by 5% in the last 24 hours. Thanks to its latest rally, CHZ is trading at $0.049 and could rally higher in the near term.

The momentum indicators remain constructive, indicating that CHZ could extend its rally over the next few hours and days. 

Data obtained from CoinGlass shows that the futures’ Open Interest (OI) at exchanges in Chiliz surges to $80 million on Tuesday, up from $58 million in the previous week.

This is the highest Chiliz’s OI has been since January. The rising OI indicates that new or additional bullish positions are opening in the market, suggesting a bullish outlook for CHZ. 

Furthermore, Chiliz’s funding rates flipped positive on Sunday and surged to 0.0043% on Tuesday. The funding rate turning positive means that the bulls are firmly in control of the market.

CoinGlass’ long-to-short ratio for CHZ read 1.01 on Tuesday, after sitting in the red territory for over a week. 

Chiliz price forecast: The $0.051 resistance level remains a key challenge

The CHZ/USD 4-hour chart is bullish and efficient as Chiliz has outperformed the broader cryptocurrency market.

The cryptocurrency market is currently trading above key support levels thanks to its recent rally. The momentum indicators also suggest that the buyers could push CHZ’s price higher in the near term. 

The Relative Strength Index (RSI) at 58 shows that the bulls have regained control but still have more room for growth. 

The Moving Average Convergence Divergence (MACD) line has turned positive, with the histogram marginally above zero, hinting at a steady rally.

If the bullish scenario continues, the buyers would face immediate resistance at the recent swing high of $0.051. 

A daily candle close above this level would allow the bulls to extend the rally towards the $0.057 resistance and then the January high at $0.064.

CHZ/USD 4H Chart

However, if the sellers regain control, immediate support would emerge around the $0.047 Inducement Liquidity (ILQ). 

Failure to defend this support level would expose the other major zones around the $0.043 and $0.041.

The post Chiliz targets new weekly highs as derivatives data flips bullish appeared first on CoinJournal.

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ECHO token plunges after $76M admin key exploit hits protocol

  • Echo Admin key compromise enabled $76.7M unauthorized eBTC minting.
  • The attacker used fake eBTC to borrow and bridge real crypto assets.
  • ECHO token dropped sharply as panic selling hit the market fast.

The ECHO token came under severe pressure after a major security breach tied to the Echo Protocol led to the unauthorized minting of roughly $76.7 million worth of eBTC, triggering a sharp loss of confidence across the ecosystem.

The exploit centered on a compromise of privileged access controls, allowing an attacker to bypass normal minting restrictions and generate synthetic assets without collateral.

The exploit quickly escalated from a technical breach into a full-scale market disruption.

Within hours of the attack becoming known, the ECHO token recorded a steep double-digit decline as traders rushed to exit positions amid uncertainty over the protocol’s stability and the status of the inflated eBTC supply.

Admin key compromise enabled unlimited minting of eBTC

The core of the exploit was a compromise of an admin-level private key, which granted the attacker control over minting permissions inside the Echo Protocol system.

With that access, the attacker was able to mint approximately 1,000 eBTC tokens without depositing any collateral.

These tokens were not backed by real Bitcoin reserves, meaning they functioned as artificially created supply inside the system.

The sudden expansion of eBTC supply to roughly $76 million in value created immediate imbalance risks across any integrated lending or trading platforms that accepted the asset as collateral.

Once minted, the attacker began routing the assets through decentralized finance applications.

A portion of the fake eBTC was deposited into lending markets such as Curvance, where it was used to borrow wrapped Bitcoin (WBTC).

From there, the borrowed funds were bridged across networks, converted into ETH, and partially routed through privacy tools, including Tornado Cash, in an attempt to obscure transaction trails.

Blockchain investigators tracking the movement of funds noted that approximately 955 eBTC remained under attacker control, representing the vast majority of the illicitly minted supply.

Only a small fraction of the stolen value was successfully converted into liquid assets during the early stages of the exploit.

ECHO token drops sharply as panic spreads across the market

As the exploit became public, the ECHO token reacted with a rapid sell-off.

The price dropped by over 11% within a short period, reflecting immediate market concern over the protocol’s security and the potential impact of the inflated eBTC supply on the broader ecosystem.

Echo token plummets

The market reacted to two key risks.

The first was the possibility of further minting or continued exploitation if access controls were not fully secured.

The second was the uncertainty surrounding potential bad debt created in lending markets where the unbacked eBTC had already been used as collateral.

Liquidity conditions tightened as participants reduced exposure to both ECHO and related assets.

The sudden exit of capital intensified downside pressure, accelerating the token’s decline and amplifying volatility across connected trading pairs.

Echo Protocol halts operations and begins investigation

In response to the breach, Echo Protocol moved to pause cross-chain operations, aiming to limit further movement of stolen funds and prevent additional exploitation pathways.

The suspension affected bridging and cross-chain functionality, which had been used by the attacker to move assets between networks during the laundering process.

The incident did not affect the underlying Monad blockchain, which continued operating normally.

The issue was isolated to Echo Protocol’s access control layer, specifically the privileged permissions tied to minting authority.

Security researchers assessing the breach have pointed to the admin key compromise as the central failure point.

Rather than a flaw in token mathematics or smart contract logic, the attack exploited centralized control privileges that allowed unrestricted issuance of synthetic assets once the key was exposed.

The post ECHO token plunges after $76M admin key exploit hits protocol appeared first on CoinJournal.

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Meme coins remain under pressure as Dogecoin extends losses

Key takeaways

  • Dogecoin extends its correction on Monday as memecoins record huge losses.
  • DOGE could drop below $0.10 if the bearish trend persists. 

Memecoins record huge losses

The cryptocurrency market opened the new weekly candle bearish, with Bitcoin (BTC) slipping below the $77,000 level on Monday and risk appetite deteriorating across digital assets.

Meme coins started the week on a weak footing as the broader cryptocurrency market continued to struggle. Dogecoin, Shiba Inu, and Pepe all remain vulnerable to further downside after heavy selling pressure emerged following last week’s market correction.

DOGE is down by 5%, making it the worst performer among the top 10 cryptocurrencies by market cap. 

Dogecoin briefly rallied last week and retested the important weekly resistance zone near $0.119 on Thursday before sellers regained control.

The rejection triggered a fresh wave of downside pressure, with DOGE falling nearly 6% through Sunday and extending losses further on Monday as the token traded below the $0.106 level.

Technical outlook: DOGE risks a deeper correction below key EMAs

The DOGE/USD 4-hour chart is bearish as the leading memecoin has dropped below major support levels. 

If DOGE closes the daily candle below the 100-day Exponential Moving Average (EMA) near $0.106, selling pressure could intensify toward the 50-day EMA around $0.103.

A decisive breakdown below that support area may expose the previous trendline breakout region near $0.090, which now acts as the next major downside target.

Momentum indicators continue to reinforce the bearish outlook for Dogecoin. The Relative Strength Index (RSI) on the 4-hour chart currently sits near 41, slipping below the neutral 50 threshold and signaling that bearish momentum is beginning to strengthen.

Meanwhile, the Moving Average Convergence Divergence (MACD) indicator confirmed a bearish crossover on Saturday, a signal that remains active and continues to support downside risk in the near term.

Despite the bearish setup, Dogecoin could still attempt a short-term rebound if buyers successfully defend the 100-day EMA support near $0.106.

DOGE/USD 4H Chart

A sustained hold above that level may allow DOGE to recover toward the key weekly resistance zone around $0.119.

However, broader market sentiment, particularly Bitcoin’s direction, is likely to remain the dominant driver for meme coin price action in the near term.

The post Meme coins remain under pressure as Dogecoin extends losses appeared first on CoinJournal.

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Bitcoin slides below $76,800 as ETF outflows and inflation fears pressure crypto markets

Key takeaways

  • BTC dips lower for a fourth straight day on Monday after losing nearly 6% the previous week.
  • US-listed BTC spot ETFs record a weekly outflow of $1 billion, the highest in three months.

Bitcoin (BTC) remained under pressure on Monday, trading below $77,000 after declining nearly 6% last week, as persistent spot ETF outflows and stronger-than-expected US inflation data dampened investor appetite for risk assets.

The latest decline marks Bitcoin’s fourth consecutive day of losses, with the cryptocurrency continuing to retreat after failing to sustain momentum above the key $82,000 resistance zone.

Hot US inflation data boosts hawkish Fed expectations

Bitcoin’s recent weakness accelerated following hotter-than-expected US inflation data released last week, alongside stronger US retail sales figures that reinforced expectations for a more hawkish Federal Reserve.

The renewed inflation concerns strengthened the US dollar and pushed Treasury yields higher, creating additional pressure on risk-sensitive assets such as cryptocurrencies.

Higher interest rate expectations typically reduce market liquidity and shift investor capital toward safer, yield-generating assets, limiting demand for speculative markets like Bitcoin.

The rejection near the $82,000 level also triggered additional profit-taking from short-term holders, intensifying the correction.

Institutional demand for Bitcoin also weakened notably last week. According to data from CoinGlass, US spot Bitcoin exchange-traded funds recorded net outflows of approximately $1 billion last week, marking the largest weekly withdrawal since late January.

The sharp reversal in ETF flows signals a cooling of institutional sentiment after several weeks of strong inflows that had previously supported Bitcoin’s rally.

If ETF outflows continue in the coming sessions, analysts warn that Bitcoin could face additional downside pressure.

Bitcoin price outlook: Bulls failed to take out a key resistance level

The BTC/USD 4-hour chart is bearish after Bitcoin’s price was rejected near the 100-week Exponential Moving Average (EMA) around $82,289.

BTC also closed last week below the 61.8% Fibonacci retracement level near $78,490, measured from the October all-time high of $126,199 to the February low around $60,000.

The breakdown below those key technical levels has shifted momentum firmly lower. If selling pressure persists, Bitcoin could extend losses toward the major psychological support level at $75,000.

On the weekly chart, momentum indicators remain mixed but increasingly cautious. The Relative Strength Index (RSI) slipped below the neutral 50 level and currently sits near 35, signaling a strong bearish momentum.

Meanwhile, the Moving Average Convergence Divergence (MACD) histogram is also in the negative region, suggesting that the bears are in control. 

If the bearish trend persists, immediate support sits near the clustered 50-day and 100-day EMAs below current price action.

Further downside targets include the 38.2% Fibonacci retracement near $74,487, followed by the previous trendline breakout zone around $70,576.

Below that, the 23.6% Fibonacci retracement near $68,950 remains a critical level protecting Bitcoin’s broader bullish structure above the $60,000 swing low.

BTC/USD 4H Chart

However, if the bulls regain control, initial resistance emerges near the 50% Fibonacci retracement around $78,962, followed by the 200-day EMA near $81,853.

A stronger bullish continuation would likely require a daily close above the 61.8% Fibonacci retracement near $83,437 and the horizontal resistance barrier around $84,410.

The post Bitcoin slides below $76,800 as ETF outflows and inflation fears pressure crypto markets appeared first on CoinJournal.

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OriginTrail (TRAC) jumps over 75% on Upbit listing: here’s how high it could go

  • Upbit listing sparked TRAC’s sharp liquidity-driven rally.
  • OriginTrail (TRAC) broke above major EMAs with strong bullish momentum.
  • The key support at $0.351 may decide the next price direction.

OriginTrail (TRAC) posted one of the strongest performances in the crypto market on May 18, sending the token sharply higher even as broader digital assets faced downward pressure.

TRAC surged by more than 75% within 24 hours, climbing to approximately $0.5986 after trading as low as $0.3228 during the same session.

The price surge pushed the token to its highest level in months and marked one of its most aggressive single-day rallies since previous bull market cycles.

Trading volume rose just as sharply, with 24-hour turnover exceeding $36 million as investors rushed to position ahead of the listing.

The sudden spike came after Upbit officially confirmed support for OriginTrail across three major trading pairs — KRW, BTC, and USDT — with trading scheduled to begin on May 18 at 16:00 KST.

Upbit listing triggers major breakout

The announcement from Upbit Korea immediately changed TRAC’s liquidity profile.

South Korea remains one of the world’s most active crypto trading markets, and listings on top-tier exchanges such as Upbit often provide tokens with broader retail exposure, stronger fiat access, and deeper market participation.

This new accessibility appears to be the primary force behind TRAC’s explosive price movement.

Before the news, TRAC had been trading well below $0.32.

But after the news, the token broke out and is now positioned significantly above all major daily exponential moving averages, including the 10-day, 20-day, 50-day, 100-day, and 200-day EMAs.

This technical alignment signals a bullish trend across both short-term and long-term timeframes.

Technical structure points to elevated volatility

Although TRAC’s price action remains bullish, volatility remains exceptionally high.

The token’s 24-hour range stretched from $0.3228 to $0.6028, reflecting intense speculative participation.

Such large price expansions often create both breakout opportunities and rapid correction risks.

If buying pressure remains strong following the Upbit trading, the token could rise higher, while overbought conditions could trigger a classic sell-the-news scenario, where early buyers lock in gains and price retreats sharply.

OriginTrail (TRAC) price forecast

TRAC’s immediate outlook depends heavily on post-listing volume and whether new liquidity translates into sustained demand.

As long as the price remains above $0.351, analysts project that the bullish momentum may remain intact, with breakout continuation possible if bulls defend support.

A stronger upside scenario would, however, require TRAC to hold current gains and establish support above the $0.60 psychological region, which could open the path toward higher technical extensions.

But if TRAC loses $0.351 support, downside risks increase significantly, with the $0.337 region acting as the next important support level to watch.

The post OriginTrail (TRAC) jumps over 75% on Upbit listing: here’s how high it could go appeared first on CoinJournal.