Kategorie: Crypto Analysis

Key takeaways

• Ether is up 3% in the last 24 hours and now trades above $3k.
• The coin could rally towards $3,400 soon amid bullish sentiments.

Ether tops $3k as BTC hits a new all-time high

The cryptocurrency market is having an excellent start to the week, with Bitcoin and other major cryptos in the green. Bitcoin, the leading cryptocurrency by market cap, hit a new all-time high of $123k earlier today after adding more than 4% to its value in the last 24 hours.

It has slightly retraced to the $121k region, but analysts expect it to resume its upward movement soon. 

Ether, the leading altcoin and second-largest cryptocurrency by market cap, is not left out of this rally. Ether added more than 3% to its value in the last 24 hours and is now approaching the $3,100 mark.

This rally comes amid growing institutional demand for Ethereum products. Data obtained from Coinglass revealed that spot Ethereum ETFs recorded a $1.4 billion volume over the last 24 hours. Thanks to the growing volume, Ethereum ETFs now have over $12 billion in assets under management, led by BlackRock’s iShares Ethereum Trust ETF. 

ETH targets $3,400 as bulls look to push price higher

The ETH/USD 4-hour chart is bullish and efficient, suggesting that Ether could rally higher in the near term. Ether inches closer to the 61.8% Fibonacci retracement level at $3,067 drawn from the December 16 high of $4,107 to the April 9 low of $1,385. 

A daily close above this level could see ETH rally towards the 78.6% Fibonacci level at 3,525. Furthermore, its 50-day Exponential Moving Average (EMA)  crossing above the 200-day EMA suggests a golden crossover, generally considered to be a buy signal.

The RSI of 73 and the MACD lines within the positive zone serve as added bullish confluences. If the rally continues, ETH could cross the first major resistance level at $3,438 over the next few hours or days. An extended bullish performance would allow ETH to hit $3,755 for the first time since January 5th.

However, if Ether fails to hold above $3k, it could retest the 50% Fibonnaci level at $2,751.

The post Ether eyes $3,400 as bulls push price above $3k appeared first on CoinJournal.

Key takeaways

• Hedera’s HBAR is the third-best performer among the top 20 cryptocurrencies by market cap.
• The coin is targeting the $0.32 resistance level after overcoming $0.24 a few hours ago.

HBAR rallies as BTC sets a new all-time high

The cryptocurrency market is having a positive start to the week thanks to rallies by Bitcoin, Ether, XRP, HBAR, and other major coins and tokens. The rally comes after last week’s excellent performance and could extend further as investors prepare for a crucial week in the United States.

Bitcoin has set a new all-time high of $122,800 a few minutes ago after adding 4% to its value in the last 24 hours. Ether and XRP, the two leading altcoins, are also trading in the green.

HBAR, the native coin of the Hedera blockchain, is up 10% in the last 24 hours, making it the third-best performer among the top 20 cryptocurrencies by market cap. The coin has now surpassed the $0.24 resistance level and could rally higher soon.

HBAR targets $0.32 as bulls look to extend rally

The HBAR/USD 4-hour chart is bullish but inefficient, suggesting that the pair could sweep liquidity to the downside before embarking on any upward rally. The technical indicators are bullish, suggesting a further rally in the near to medium term.

The Relative Strength Index (RSI) of 74 shows that HBAR is heading into the overbought region if the positive momentum holds. Furthermore, the MACD lines are within the positive zone, indicating a bullish bias.

If the bulls remain in control, HBAR could rally towards the first major resistance level at $0.28452, last tested on March 2nd. In the event of an extended rally, HBAR could retest the $0.32281 level for the first time since January. 

However, if the bulls fail to leverage this momentum, HBAR could retest the ILQ level at $0.22556 in the coming hours or days. An extended bearish condition would see HBAR drop to the TLQ level at $0.19152.

The post HBAR targets $0.32 after blasting through the $0.24 resistance level appeared first on CoinJournal.

Key takeaways

• ETH is up 8% in the last 24 hours and is currently trading above $3k.
• The coin could rally towards the $3,700 resistance if the daily candles close above $3k.

Ether hits $3k following strong ETF and treasury inflow

Ether, the second-largest cryptocurrency by market cap, was one of the best performers among the top 10 cryptocurrencies. As Bitcoin was hitting a new all-time high above $118k, Ether was topping the $3k resistance level.

At press time, the price of Ether stands at $3,001, up 7.7% in the last 24 hours. The positive performance comes thanks to strong buying pressure across ETH exchange-traded funds (ETFs) and crypto treasury companies.

Bloomberg ETF analyst Eric Balchunas revealed on Thursday that US spot Ethereum ETFs recorded net inflows of $211.32 million on Wednesday, marking four consecutive days of positive flows totaling $468.63 million.

According to the analyst, BlackRock’s iShares Ethereum ETF (ETHA) has recorded over $800 million in daily volumes in the past two days, 4x its average. 

“Given the price is also up, prob see some chunky flows next couple of days. Decent chance to break single-day record of $292m,” he added.

ETH eyes $3,700 as bullish bias grows

The ETH/USD 4-hour chart is bullish but inefficient, suggesting that the pair could sweep liquidity to the downside before continuing its rally. The technical indicators are bullish, suggesting a strong buying bias.

The RSI of 86 shows that Ether is currently heading into the overbought region. The MACD lines are also within the positive zone, with buyers firmly in control of the market. The pair also shows rising green histogram bars above its neutral zero line, suggesting bullish momentum is gaining traction and continuing an upward trend.

If ETH closes above the $3k resistance, it could extend its rally and target the next daily resistance at $3,700. If the rally continues, ETH could surpass the high of $4,100 achieved in December 2024.

However, if ETH faces a rejection at the $3k resistance, it could retest the support and ILQ level at $2,770 in the coming hours.

The post Ether could extend rally if it closes above $3k resistance; check forecast appeared first on CoinJournal.

Key takeaways

• Bitcoin hit a new all-time high of $112k after adding 3% to its value on Wednesday.
• The coin could rally towards $115k-$120k if macro conditions remain favorable and price action holds.

Bitcoin hits a new all-time high

Bitcoin, the leading cryptocurrency by market cap, surged to a new all-time high price on Wednesday after adding 3% to its value. The new Bitcoin all-time high now stands at $112,128 as analysts predict the coin to hit between $115k and $120k over the coming weeks or months.

The positive performance comes amid growing institutional demand. Recent reports reveal that spot Bitcoin ETFs now have nearly $150 billion in assets under management (AUM).

Furthermore, an increasing number of companies are adding Bitcoin to their balance sheets. Strategy, Metaplanet, and GameStop are the biggest corporate Bitcoin adopters, but more companies are now implementing Bitcoin treasuries.

BTC could surge to $115k

The BTC/USD 4H chart is bullish but inefficient after Bitcoin rallied to a new all-time high. This means that Bitcoin could temporarily dip to the $109,700 level to grab liquidity before rallying higher. 

The Relative Strength Index (RSI) of 65 shows that Bitcoin is currently in a buying spree, but investors could push it higher. Furthermore, the MACD lines are in the positive zone, suggesting a bullish bias.

If Bitcoin rallies higher and $112K becomes support, the rally could extend toward $116K–$120K. Supporting confluences for this rally include a clean break of all-time high, continued accumulation by institutions, lack of major resistance until $115k psychological level, and the 4-Hour Fair Value Gap ($109,800-$110,800) remaining intact.

However, if the rally stalls at the all-time high levels, we may see a correction. The failed breakout above $112,000 with no sustained momentum could see BTC dip lower. If that happens, the 4H FVG around $109k would not provide any major support, and BTC could drop to the $108k level.

The post What next for Bitcoin after hitting a new all-time high? Check forecast appeared first on CoinJournal.

• Exchange net flows remain negative, pointing to continued accumulation.
• Golden Crossover signal is forming between the 50 and 200-day EMAs.
• Elder Ray’s Index flips positive, suggesting buyer control.

BONK, the meme coin built on the Solana blockchain, has jumped nearly 60% over the past seven days, driven largely by market sentiment and speculation surrounding potential ETF-related demand.

With BONK breaking out of a long-term technical pattern and momentum indicators flipping bullish, traders are now watching closely to see whether the rally can push past a key resistance level at $0.00002840.

A potential Golden Crossover between two important moving averages is also forming on the daily chart, raising hopes of a sustained breakout if the signal is confirmed.

However, BONK is now trading at $0.00002128, down 5.95% in the last 24 hours.

BONK exits year-long wedge, approaches key resistance

BONK has officially broken out of a falling wedge pattern that has been forming over the last year on the daily timeframe.

The breakout was confirmed when the price surged past $0.00001550, a key level that had previously held the coin in a downward compression between lower highs and flat support.

Currently, BONK is consolidating near $0.00002203. Immediate resistance sits at $0.00002389, with another critical zone between $0.00002577 and $0.00002840.

The absence of strong resistance between $0.00002840 and $0.00003670 makes this zone a potential price vacuum should buyers break above current ceilings.

However, traders remain cautious. A reversal below $0.00001806 could indicate a loss of breakout momentum, while a drop under $0.00001435 would nullify the wedge breakout entirely and bring the previous bearish structure back into focus.

BONK ETF speculation fuels investor interest

Speculation around BONK’s potential inclusion in future crypto ETF portfolios has contributed significantly to the recent price surge.

While no official confirmation has emerged, BONK has re-entered the conversation as institutional interest grows around meme coins and altcoins with high liquidity and community traction.

Social media discussions have been instrumental in amplifying the narrative, with investors pointing to BONK’s strong fundamentals on-chain.

The meme coin’s trading volume has increased in tandem with positive netflows, reflecting growing demand across centralised and decentralised exchanges.

Exchange outflows support bullish supply trend

Data from Arkham shows a prolonged period of negative netflows for BONK over the last year.

This suggests that more tokens are being withdrawn from exchanges than deposited, a typical sign of accumulation.

While the trend has moderated in the last 30 days, it remains negative, indicating neutral-to-bullish positioning.

The reduced exchange supply could play a major role in sustaining upward pressure, particularly if new demand continues to arrive on the back of speculative interest or positive technical developments.

The supply squeeze narrative has gained traction on platforms like X, where some users argue BONK may be gearing up for a sharp move once resistance levels are cleared.

Technical indicators turn bullish for BONK

One of the more significant developments on the BONK chart is the near-confirmation of a Golden Crossover.

This occurs when the 50-day Exponential Moving Average (EMA) crosses above the 200-day EMA, typically considered a bullish signal in technical analysis.

The Elder Ray Index, which measures bull and bear power by comparing price against a moving average, has also flipped into positive territory.

This suggests buyer strength is currently dominant over selling pressure, supporting the idea that bulls have regained control.

At the time of writing, BONK’s structure supports continuation if it can break above $0.00002577 and hold the gains.

Any rally past $0.00002840 would likely open the path to $0.00003670, as the price moves into a zone with few historical resistance points.

However, failure to maintain support above $0.00001806 could signal weakening momentum.

If BONK slides below $0.00001435, it may re-enter the bearish wedge structure it recently broke out from.

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