Während der Gold- und Aktienmarkt bereits von besseren Rahmenbedingungen profitiert, hinkt Bitcoin hinterher, doch ein Experte meint, dass diese verzögerte Reaktion normal sei.
Flare price surges amid 290% volume spike: next target for FLR?
- Flare price rose to above $0.028 before paring gains.
- The crypto project’s DeFi ecosystem, enhanced by FXRP, has driven a significant rise in active users, boosting network activity.
- As Flare’s oracle services gain traction, could this boost the bulls’ price target above $0.030 and allow for further upside momentum?
Flare (FLR), the native token of the Flare Network, has surged over 10% in the past week to test $0.028, largely outpacing the broader cryptocurrency market amid widespread declines.
While it traded near $0.025 at the time of writing, FLR has broken through critical resistance levels after bouncing off lows of $0.023.
With bullish momentum driving the price, Flare could target $0.038 or higher.
Fueled by strong technical indicators and growing adoption of Flare’s decentralised finance ecosystem, this rally has attracted significant attention from both retail and institutional investors.
FXRP token and XRP DeFi integration
Flare’s recent surge is due to its integration with XRP through the FXRP token, enabling XRP to become DeFi-ready.
The Flare Network’s FAssets mainnet facilitates the conversion of XRP into FXRP, unlocking deeper liquidity and new use cases such as lending and borrowing.
The platform’s total value locked has soared to $217 million in an integration that has positioned Flare as a leader in bridging XRP’s non-smart contract capabilities with decentralised finance.
“For over a decade, XRP has powered fast and efficient settlement at scale. FXRP on Flare extends that strength with composability, opening new growth opportunities: XRP as collateral, liquidity, and yield in DeFi,” the Flare team posted on X.
Additionally, the token`s institutional backing and partnerships focused on interoperability have further solidified investor confidence, driving FLR’s price momentum.
Flare price: $0.038 target and technical outlook
Flare is trading around $0.0256 at the time of writing.
The token moved within a daily range of $0.0245 to $0.0284, marking a 3.4% gain in the last 24 hours.
On the chart, FLR broke above the 23.6% Fibonacci retracement level at $0.0217.
This puts FLR price well above its 7-day SMA at $0.0246, showing strong short-term bullish control.
Meanwhile, the Moving Average Convergence Divergence indicator remains positive.
Notably, the MACD line crosses above the signal line, confirming upward momentum.
Although the Relative Strength Index is downsloping and near 55, staying above the neutral mark indicates bulls remain in control.
Gains could ensue before prices reach overbought territory.
If FLR maintains support above $0.0264, it can rise up to $0.0389, aligning with the 61.8% Fibonacci retracement level.
This could allow buyers to aim for $0.040 and higher, which are levels last seen in January 2025 and April 2024.
However, a failure to hold current levels could see a pullback to $0.024, with deeper support at $0.022.
The post Flare price surges amid 290% volume spike: next target for FLR? appeared first on CoinJournal.
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BTC holds the $110k support ahead of PCE data; Check forecast
Key takeaways
- Bitcoin is down 1% in the last 24 hours, dropping below the $112k level.
- The leading cryptocurrency is still holding its value above the $110k support ahead of tomorrow’s PCE data.
BTC dips below $112k as bearish sentiment grows stronger
The cryptocurrency market has been bearish this week, with Bitcoin and other major coins currently underperforming. Bitcoin reclaimed the $114k level on Wednesday but has given up the gains and is now trading below $112k level once again.
The negative performance comes as Fed officials cool expectations on further rate cuts before the end of the year. Chairman Jerome Powell has signaled a cautious approach to future rate cuts despite the Fed cutting rates by 25 basis points earlier this month.
Traders are also cautious ahead of tomorrow’s PCE data release. PCE is the Fed’s primary indicator for inflation and could help the apex bank decide whether to cut interest rates in its next FOMC meeting in October.
BTC could dip below $110k if the bearish trend continues
The BTC/USD 4-hour chart remains bullish and efficient despite Bitcoin losing 4% of its value over the last seven days. The technical indicators are, however, bearish thanks to the ongoing selloff.
The RSI of 38 shows that Bitcoin is heading into the oversold territory if the selloff continues. The MACD lines also crossed into the negative zone over the weekend, signalling a bearish momentum.
At the moment, BTC is trading at $111,793. If the bearish trend continues, BTC could drop below the $110k support level and retest the $107k region for the first time since August 31.
However, if the $110k support level holds and Bitcoin bounces, it could reclaim the first major resistance level at $114k over the coming hours or days. An extended bullish rally would see BTC hit the $118k resistance for the second time this month.
The post BTC holds the $110k support ahead of PCE data; Check forecast appeared first on CoinJournal.