Kategorie: Crypto Analysis

Key takeaways

• ETH is up 1.4% in the last 24 hours and is now trading above $3,200.
• The leading altcoin by market cap could retest the $3k psychological level as the bullish momentum stalls.

Market momentum stalls

Bitcoin (BTC) and Ethereum (ETH) are currently trading around key resistance levels after rallying over the past 24 hours. The resistance levels could see the leading cryptocurrencies retest lower psychological areas before either dumping harder or embarking on a successful breakout.

At press time, Ether is trading above $3,200 per coin after adding 1.4% to its value in the last 24 hours. It failed to surpass the $3,500 resistance level on Friday despite the Federal Reserve reducing its benchmark interest rate for the third time this year.

However, the Fed delivered a hawkish rate cut, causing the market sentiment to shift bearish and Ether to retest the $3,100 level on Thursday. The market has now bounced back, and Ether could reclaim the $3,500 resistance if the rally continues. 

Ether could retest $3k before rallying higher

The ETH/USD 4-hour chart is bullish and efficient, as Ether has added nearly 4% to its value since the start of the week. Ether’s price broke above the descending trendline (drawn by joining multiple highs since October 7) earlier this week and rose by 6.2% on Wednesday. 

However, it declined below $3,100 following the FOMC meeting, with a key resistance level set around $3,500. If Ether closes its daily candle above the 50-day EMA at $3,310, it could rally towards the next major resistance at $3,592.

The RSI of 54 is above the neutral 50, indicating a bullish momentum on the 4-hour timeframe. The Moving Average Convergence Divergence (MACD) showed a bullish crossover earlier this week, supporting a bullish bias. 

However, if the daily candle fails to close above $3,310, Ether could face another correction towards the daily support level at $3,017.

The post Ether could retest $3k as bullish momentum stall: Check forecast appeared first on CoinJournal.

Key takeaways

• PI is down 1% in the last 24 hours and is now trading below $0.21.
• The coin could drop lower as the bearish sentiment grows stronger.

Pi core team transfers 2 million tokens

PI is down 1% in the last 24 hours despite the broader crypto market recovering from its recent slump. The negative performance comes after an outflow of 2 million PI tokens from the Pi core team’s liquidity reserve wallet. 

Usually, such transfers are a strategic movement of supply for rewards of operations. This is usually followed by a bearish movement in the price action of the cryptocurrencies.

A similar transfer of 50 million PI tokens to a different wallet two months ago saw multiple deposits to the OKX cryptocurrency exchange. At the moment, this wallet holds less than 48 million tokens after transferring over 3 million PI tokens to OKX. 

This movement could suggest that the core team is consolidating its holdings, increasing the bearish sentiment surrounding PI. 

PI could retest the $0.19 support level

The PI/USD 4-hour chart is bearish and efficient as the coin has been in the red over the past seven days. The technical indicators are also bearish, suggesting that sellers are currently in control of the market. 

The bearish performance comes after PI failed to defend the $0.2200 support level, with the bears likely to push it lower towards the $0.1919 support area. 

Failure to defend this critical level could expose PI to the October 10 low at $0.1533, which could serve as its all-time low support.

The RSI of 37 is below the neutral 50, indicating that the bears are currently in control of the market. The MACD lines are also within the negative territory, suggesting a bearish momentum. 

However, if the bulls recover the momentum, PI could rally and test the 50-day Exponential Moving Average at $0.2364. The bullish trend will resume once PI crosses the $2.500 psychological level.

The post PI could dip below $0.20 amid a strong bearish sentiment appeared first on CoinJournal.

Key takeaways

• Cardano’s ADA is down 10% in the last 24 hours and is now trading at $0.415.
• The coin could bounce back to the $0.50 region as the $0.40 support level holds.

ADA is the worst performer among the top 10 cryptocurrencies by market cap, losing 10% of its value in the last 24 hours. The bearish performance comes amid the Fed’s interest rate and declining Open Interest.

However, on-chain data suggests that Cardano could recover soon and rally higher in the near term. 

Derivatives data adds to ADA’s woes

Data obtained from CoinGlass reveals a 13% drop in Cardano futures Open Interest (OI) over the last 24 hours to $725.61 million. The decline in OI suggests a massive drop in active positions, including both longs and shorts, indicating that traders are not interested in the cryptocurrency at the moment. 

With the risk-off sentiment, ADA’s funding rate has dropped to 0.0019% from the 0.0047% recorded on Wednesday, suggesting a decline in bullish sentiment. 

Furthermore, the short positions account for 54.62% of all active positions in the last 24 hours by press time, indicating that traders are more bearish about ADA’s price action. 

Despite the decline in the derivatives data, on-chain data obtained from Santiment shows that transactions reached a nine-month high of 4.11 billion ADA on Tuesday. The increase in on-chain activity could boost ADA’s price in the short to medium term. 

Finally, the daily active addresses have also hit a four-month high of 34,229, indicating renewed interest in the Cardano network. 

Cardano could break out above $0.50 soon

The ADA/USD 4-hour chart is bullish and efficient, with an MSU (Market Shift) structure formed on this timeframe. The technical indicators remain bearish but could soon switch bullish as ADA holds the $0.40 support level. 

The RSI of 36 shows that ADA is still within the bearish territory. However, the MACD lines are within the positive territory, indicating a growing bullish bias. 

If the trend reverses, ADA could rally towards the $0.50 resistance level over the next few hours or days. The breakout rally could push Cardano prices to $0.6069, a level marked by the November 11 high.

However, failure to reverse could see ADA retest the December 1 low of $0.3707 over the next few hours or days.

The post ADA holds above the $0.40 support, eyes the $0.50 psychological level appeared first on CoinJournal.

Key takeaways

• HYPE is down 5% in the last 24 hours and is currently trading at $27.
• The coin could drop to $23 if the bearish trend continues.

Hyperliquid’s staking balance declines

HYPE, the native coin of the Hyperliquid decentralized exchange, is one of the worst performers among the top 20 cryptocurrencies by market cap. The coin is trading above $27 per coin after losing 5.8% of its value in the last 24 hours.

The bearish performance comes after the Federal Reserve delivered a hawkish red cut on Wednesday. According to market analysts, with further rate cuts now off the table for a while, attention will turn to liquidity and the Fed’s balance sheet policy in early 2026. However, despite the Treasury bill purchase announced today, QE isn’t coming until things start breaking – and that always means more volatility and potential pain.

Another major catalyst behind HYPE’s bearish performance is the decline in Hyperliquid’s Total Value Locked (TVL). The protocol’s TVL has dropped to $1.63 billion from $2.42 billion on October 30. 

Investors continue to pull their funds from staking contracts on the Hyperliquid chain, adding more selling pressure on HYPE. Falling TVL suggests that investors are losing confidence in the token and ecosystem, prompting them to reduce their risk exposure.

Furthermore, the demand for Hyperliquid derivatives has declined due to the current market conditions. According to Coinalyze, HYPE’s Open Interest (OI) has dropped to $1.3 billion, down 2.5% from the $1.48 billion recorded on Wednesday. It is also significantly below its record high of $2.59 billion reached in September, suggesting that low retail interest in HYPE could continue to suppress a recovery. 

Will HYPE continue to dip lower?

The HYPE/USD 4-hour chart is bearish and efficient as HYPE has underperformed over the last 24 hours. The Layer-1 blockchain token has dropped below its short-term support at $27.50, underpinning its current bearish outlook.

The Relative Strength Index (RSI) has dropped to 34 on the 4-hour chart, pointing to a strong bearish momentum. If the RSI enters the oversold region, HYPE could dip lower over the coming hours and days. 

If the bearish trend continues, HYPE could retest the low of $23 for the first time since May 13. 

However, if buyers regain control and push the price above the $29 resistance level, HYPE could target the next major liquidity level sitting below the 50-day Exponential Moving Average (EMA) at $36.23.

The post HYPE could dip to $23 amid declining staking balance: Check forecast appeared first on CoinJournal.

Key takeaways

• BTC is down 1.35% and is trading around $90,500.
• The leading cryptocurrency has stabilized ahead of tomorrow’s FOMC meeting.

BTC stays above $90k ahead of the Fed rate decision

Bitcoin began the week bullish, hitting the $93k level on Monday. However, it has lost 1% of its value in the last 24 hours and is now trading above $90k. 

The mixed performance comes as traders look forward to tomorrow’s Fed rate decision. The Federal Reserve is expected to reduce its benchmark lending rate by a minimum of 25 basis points. 

The US Personal Consumption Expenditures (PCE) Price Index, released last Friday, did little to influence expectations for further policy easing by the apex bank. 

In addition to that, institutional demand for Bitcoin-related funds shows a decline in selling pressure compared to previous weeks. Data obtained from SoSoValue revealed that S-listed spot Bitcoin ETFs recorded a mild outflow of $60.48 million on Monday.

Bitcoin’s recovery could be determined by the ETF inflow as institutions play a crucial role in boosting demand. 

Finally, Michael Saylor’s Strategy announced on Monday that it had acquired 10,624 bitcoin for $962.7 million between December 1–7 at an average price of $90,615. Thanks to this acquisition, the company now holds 660,624 BTC, valued at $49.35 billion. 

Bitcoin could rally towards $97k

The BTC/USD 4-hour chart is bullish and efficient as Bitcoin has performed positively in recent days. The cryptocurrency faced rejection from the 61.80% Fibonacci retracement level at $94,253 last week, dropping to the $88k level during the weekend.

However, it recovered above $92k on Monday before declining to now trade above $90,500 per coin. 

If the rally continues and the daily candle closes above the $93k resistance, BTC could extend its bullish movement toward the next key resistance at $100,000.

The Relative Strength Index (RSI) on the 4-hour chart is 44, near the neutral 50 level, suggesting fading bearish momentum. However, the RSI needs to move past the neutral level if Bitcoin will surmount the $93k resistance level. 

The Moving Average Convergence Divergence (MACD) showed a bullish crossover last week, which still holds, supporting a bullish bias.

However, if the bullish recovery fails, Bitcoin could revisit the support level around the $85,569 region.

The post Bitcoin stabilizes around $90k ahead of FOMC meeting: Check forecast appeared first on CoinJournal.