Kategorie: Crypto Analysis

Daily headlines and news about crypto analysis.

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Chainlink (LINK) accumulation hints at big breakout; check forecast

Key takeaways

  • LINK is up 4% in the last 24 hours and now trades at $14.
  • The coin can rally towards $17 soon, following weeks of accumulation around the $13 region.

The cryptocurrency market has resumed its upward rally following a poor start to the week. Bitcoin is trading above $109k once again, while Ether has crossed the $2,600 resistance level.

Chainlink’s LINK is one of the top performers among the leading 20 cryptocurrencies by market cap and looks set to rally higher in the near term.

LINK looks set to break out from its accumulation zone

LINK, the native coin of the Chainlink ecosystem, has been accumulating over the past few weeks. The accumulation comes despite Chainlink’s recent partnership with Mastercard and other protocols integrating its various products.

The coin has been trading between $12 and $14 over the last few weeks. However, the long period of accumulation could suggest a breakout soon, with many analysts expecting it to hit the $17 mark soon.

LINK eyes $17 as bulls push harder

The LINK/USD 4-hour chart is bullish and efficient thanks to its ongoing rally. The pair is also efficient after LINK swept liquidity around $12.8 over the weekend, suggesting that the bulls are preparing for another leg up.

The Relative Strength Index (RSI) of 64 indicates buying pressure for LINK, while the MACD lines in the positive zone also show that the bulls are in control.

If the rally continues, LINK could test the first major resistance level at $15.7 in the coming hours or days. An extended bullish period would allow LINK to trade around the $17.9 resistance level for the first time since May.

LINK/USD 4H Chart

However, LINK would need the help of the broader crypto market if it intends to break above the January high of $26. 

The TLQ at $12.6 provides very strong support for LINK, and the bulls would likely defend this level if the market turns bearish. Failure to defend the $12.6 support level could see LINK retest the June low of $10.9.

The post Chainlink (LINK) accumulation hints at big breakout; check forecast appeared first on CoinJournal.

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Cronos (CRO) up 18% after inclusion in Truth Social’s Crypto Blue-Chip ETF

Key takeaways

  • Altcoins have performed excellently over the last 24 hours, with Ether, XRP, and Aave leading the way.
  • Cronos’s CRO token is the best performer in the top 50, up 18% and eyeing the $0.1099 resistance level

Cronos rallies on Truth Social’s Crypto Blue-Chip ETF

Altcoins have had a positive 24 hours, with Ether, Solana, XRP, and Cardano all adding 3% to their values. Aave and Cronos (CRO) are other coins that have performed excellently, backed by strong fundamentals.

CRO, the native coin of the Cronos blockchain, is the best performer among the top 50 cryptocurrencies by market cap. The coin added 18% to its value in the last 24 hours to hit a high of $0.1000 before retracing to now trade at $0.0970. 

The rally was fueled by reports that confirm that CRO will be part of the Crypto Blue-Chip ETF that Truth Social filed with the SEC. The fund was proposed by Truth Social in partnership with Trump Media & Technology Group.

The ETF is set to bring together top cryptocurrencies into a single financial product to be listed on NYSE Arca. Its distribution was set at 70% for Bitcoin, 15% for Ethereum, 8% for Solana, 5% for Cronos, and 2% for XRP. This announcement sparked a rally for CRO. 

CRO is the native coin of Cronos, the blockchain created by cryptocurrency exchange Crypto.com.

CRO eyes the $0.1099 resistance level amid bullish indicators

The CRO/USD 4-hour chart is bullish and efficient, indicating that traders have swept liquidity to the downside and are ready for another leg up. The technical indicators are bullish, suggesting that CRO could rally higher.

The RSI of 77 shows that CRO is currently heading into the overbought region after adding 18% to its value in the last 24 hours. The red and blue MACD lines have also crossed into the positive zone, suggesting buying pressure.

CRO/USD 4H chart

With the bulls still in control, CRO could rally to the next resistance level at $0.1099 over the coming hours or days. It has already established a weak support level at $0.0919 after gaining efficiency a few hours ago.

If the rally continues, CRO could test the next major resistance level at $0.1202, its highest level since March. 

However, if the bears regain control, CRO could lose its recent gains and test the $0.0793 support level. The TLQ at $0.0691 should provide strong support in case the bearish trend lingers on.

The post Cronos (CRO) up 18% after inclusion in Truth Social’s Crypto Blue-Chip ETF appeared first on CoinJournal.

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FLOKI eyes 120% rally as Valhalla launches $10K giveaway after explosive weekly growth

  • Floki Inu’s metaverse game has hit over 100,000 Veras minted since the June 30 launch.
  • Valhalla has announced a $10,000 giveaway for early players.
  • FLOKI’s weekly chart signals an explosive rally after prolonged declines.

Meme coins are stealing the show as Bitcoin tests $109,000, trading at $108,955.

Meanwhile, FLOKI appears poised to lead the potential bull run as its metaverse game, Valhalla, sees explosive growth following the mainnet launch.

The game has seen over 100,000 Veras minted since the June 30 mainnet launch, marking a massive entry into the online gaming sector.

Further, the team has announced a $10,000 reward to celebrate this milestone.

Early players who complete the tutorials qualify for the giveaway.

The official announcement reads:

Valhalla launched with a BANG on opBNB mainnet on June 30th and has just passed the 100K minted Veras milestone. To celebrate, we’re giving away $10,000 in prizes to the earliest players.

These steps are crucial in attracting and retaining participants.

Meanwhile, analysts watch FLOKI’s price charts amidst the optimism.

A potential upside reversal pattern is emerging on the weekly timeframe after extended downtrends.

A confirmation could trigger explosive moves and propel the meme token’s price to the key resistance at $0.00019082.

That would mean an approximately 124% gain from Floki Inu’s current market price of $0.00008452.

Let’s check how FLOKI could attain such a remarkable rally as its ecosystem gains strength amid Valhalla hype.

Floki Inu ushers in utility with Valhalla

Valhalla was among the most-awaited upgrades by the meme token community.

It is beyond a game, representing a key foundation of Floki Inu’s long-term mission to transform into a utility-driven project.

That matches the broader trend, where market participants are opting for crypto ecosystems with real-world utility.

Valhalla gamers gather and battle with Veras, upgrade in-game assets and finally interact with other players.

It leverages opBNB to guarantee smooth gameplay and low fees.

That reduces entry barriers for new participants often turned off by expensive gas charges.

That positions the dog-themed crypto project to grab mainstream attention, which will likely fuel long-term growth.

The Floki Inu team has been consistent in delivering tangible value through launches like Valhalla, and the explosive activity surge shows the plan could be working.

FLOKI price outlook: massive rally impending?

Besides web3 gaming, Valhalla’s impressive growth has renewed sentiments around the native FLOKI.

The meme coin shows signs of life after prolonged dips.

It trades at $0.00008452 after gaining nearly 20% in the past week.

Floki 7D Price Chart

Source – Coinmarketcap

The bullish momentum follows the latest rebound from the support zone at $0.00003996.

Floki Inu used this foothold to support massive rallies in late 2023, and that could be materializing.

Continued Valhalla success and broad market surge could confirm a bullish reversal emerging on FLOKI’s weekly chart.

That might trigger explosive gains toward the first crucial resistance zone at $0.00019082.

That would mean an approximately 124% increase from the alt’s current price.

The next resistance is at $0.00023966, beyond which FLOKI could witness a full recovery to $0.00029775.

However, breaching $0.00003996 may cancel the bullish formation, catalyzing notable dips or sideways actions.

The post FLOKI eyes 120% rally as Valhalla launches $10K giveaway after explosive weekly growth appeared first on CoinJournal.

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XRP could rally higher on steady capital inflow; check forecast

Key takeaways

  • Ripple’s XRP is down less than 1% in the last 24 hours and could rally higher soon.
  • Institutional demand for XRP continues to grow, with XRP digital asset products recording $10.6 million in weekly inflows.

The cryptocurrency market is having a bearish start to the week despite the gains recorded on Monday. Bitcoin briefly dropped below $108k while Ether continues to struggle to surge above $2,600.

Ripple’s XRP is also consolidating as bulls defend the $2.2 support level. The coin could rally higher amid strong institutional demand.

Steady capital flow keeps XRP’s price high

XRP, the native coin of the Ripple ecosystem, is down by less than 1% in the last 24 hours as major cryptocurrencies underperform. Despite the current consolidation, analysts believe XRP could break out soon and head towards new highs.

The rally could be fueled by growing institutional demand for XRP. Data obtained from CoinShares revealed that fund inflows into XRP-related financial products reached $10.6 million, accelerating year-to-date inflows to $335 million. The cumulative total assets under management (AUM) for XRP average around $1.4 billion.

Interest in XRP comes from various sectors of the market, including futures contracts’ Open Interest (OI). XRP’s OI has increased by approximately 25% to $4.69 billion since dropping to $3.54 billion on June 23. The increase suggests that traders have a bullish bias and a betting on a future price surge.

XRP’s technical outlook remains bullish

The XRP/USD 4-hour chart is bearish as the broader crypto market consolidates. However, the technical indicators are strong, suggesting a bullish bias for Ripple’s native cryptocurrency. 

The bulls would have to surpass the key resistance levels at $2.33 and $2.47 in the near term to enable XRP to rally toward the $3 psychological region for the first time since January 2025. 

XRP/USD 4H Chart

The RSI and MACD indicators are both positive, suggesting that traders could be gaining exposure to XRP. In case XRP surpasses the $2.47 resistance level, it would need to overcome the May high of $2.65 to enable it to attempt the $3 mark.

However, a reversal is not ruled out, with the market sentiment still shaky thanks to renewed tariff talks. If there is a pullback, XRP could likely test the June support level of $1.90. The bulls would likely defend the 100-day Exponential Moving Average (EMA) currently at $2.22, the 50-day EMA at $2.21, and the 200-day EMA at $2.11.

The post XRP could rally higher on steady capital inflow; check forecast appeared first on CoinJournal.

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BONK rallies 10% to outperform other major cryptos; check forecast

Key takeaways

  • BONK is the best performer among the top 50 cryptocurrencies by market cap.
  • The memecoin could rally above $0.000032 if market conditions persist.

BONK surges 10%, outperforms other memes

BONK, the native token of the Bonk memecoin, is the best performer among the top 50 cryptocurrencies by market cap. The token added 10% to its value in the last 24 hours and now trades at $0.00002326 per coin.

The token’s positive performance is primarily driven by the surge in activity on LetsBonk, a recently developed token launchpad. For months, Pump.fun dominated the Solana token launchpad space. However, the story has changed as Pump.fun lost market share to LetsBonk, which some people call Bonkfun. As of this writing, LetsBonk now holds 55% of the total launchpad market share.

BONK targets $0.00003265, with strong support at $0.00002062

The BONK/USD 4H chart is extremely bullish thanks to the token’s ongoing rally. The technical indicators suggest further upward movement. The pair is currently efficient, suggesting that BONK has swept liquidity to the downside in anticipation of an upward rally.

Following the 46% surge last week with a wedge pattern breakout, BONK’s bullish start this week targets the highest price in May. A daily close above the $0.00002218 could see BONK target the $0.00002581 level, the inception point of the falling wedge pattern.

In the event of an extended rally, BONK could test the $0.00003265 level for the first time since January 2025. 

BONK/USD 4H chart

The RSI of 81 suggests that BONK is currently in the overbought region, while the MACD lines are firmly in the positive zone, suggesting a buying pressure. A rising trend in the green histogram bars indicates increasing uptrend momentum.

However, if BONK fails to hold the support level above $0.00002218, it could retest the 50% Fibonacci level at $0.00001734 in the coming days.

The post BONK rallies 10% to outperform other major cryptos; check forecast appeared first on CoinJournal.