Kategorie: Crypto Analysis

• Shiba Inu (SHIB) currently hovers near critical support; breaking it may trigger deeper losses.
• Momentum is weak, and future rallies are expected to be modest.
• Investors are shifting to utility and DeFi tokens for higher ROI.

Currently, Shiba Inu (SHIB) is hovering just above its critical support zone around $0.0000077.

Notably, this area represents the bottom of previous cycles and is closely watched for potential rebounds.

If it fails to hold above the support zone, a double-digit correction could follow.

Market sentiment and investor shifts

Investor sentiment around SHIB is cautious and the broader market conditions for altcoins and memecoins are fragile.

Many traders are increasingly favoring projects with real-world utility, a trend that has led some capital to rotate away from meme coins like SHIB.

This shift suggests that SHIB may face challenges regaining strong speculative demand.

Most analysts believe that Shiba Inu’s next rally would be modest compared to its past movements.

After a period of aggressive growth, the meme coin now appears to be in a consolidation phase and future price moves are likely to be gradual rather than explosive.

Investors looking for higher ROI are reportedly turning to DeFi tokens, meaning capital is flowing toward assets perceived as having greater long-term potential, which could ultimately limit the pace and size of SHIB’s short-term gains.

SHIB technical outlook and risks

Technically, Shiba Inu (SHIB) remains under pressure and its momentum has been weak after the early January gains.

The meme coin gained nearly 25% during the first weeks of the month but has given back most of those profits.

Short-term charts show lower highs and lower lows, indicating bearish patterns, with resistance at moving averages, such as the 50 and 100-period EMA, limiting upward movements.

The relative strength index (RSI) also remains in weak territory, showing little sign of a sustained reversal.

The current price action shows consolidation near the critical support at $0.0000077, but no strong breakout signals have emerged.

Holding the support at $0.0000077 is essential to prevent sharper declines.

A break below the support could lead to deeper corrections and erode investor confidence.

On-chain data and derivatives activity suggest that speculative demand is currently low.

This reduces the safety net against selling pressure, heightening risk.

However, despite these challenges, stabilizing at the support level could allow SHIB to maintain a trading range.

A measured recovery would likely require broader market strength or positive developments within SHIB’s ecosystem.

Analysts emphasize that while a modest rally is possible, the coin lacks catalysts for a parabolic surge.

Investors should monitor key support zones, market sentiment, and competition from utility-focused projects.

Shiba Inu’s near-term trajectory will largely depend on its ability to hold critical levels and adapt to shifting investor preferences.

The post Shiba Inu faces critical support amid modest rally prospects appeared first on CoinJournal.

Key takeaways

• CAKE is up 4.5%, approaching the $2 psychological level.
• The derivatives data back the recovery as funding rates turn positive.

CAKE’S derivatives data support bullish movement

CAKE, the native coin of the Pancakeswap exchange, has added 4.5% to its value in the last 24 hours and is now approaching $2.0.

The rally comes as Coinglass’s OI-Weighted Funding Rate data shows that the number of traders betting that the price of CAKE will slide further is lower than that anticipating a price increase. 

The positive funding rate means that more traders are bullish on CAKE than bearish. The metric flipped positive on Wednesday and currently reads 0.0046%, indicating that longs are paying shorts.

In addition to that, Coinglass’s long-to-short ratio for CAKE reads 1.11 on Thursday, nearing the highest level over a month. The ratio moving above one indicates that more traders are betting on CAKE to rally higher. 

The bullish scenario comes after Pancakeswap announced earlier this week that the community had approved CAKE’s max supply reduction proposal. 

The max supply has been reduced from 450 million to 400 million, and burns consistently outweigh emissions. 

CAKE could rally towards $2.1

The CAKE/USDT 4-hour chart is bearish and efficient despite CAKE adding 4.5% to its value in the last 24 hours. 

CAKE’s price was rejected at the weekly resistance level of $2.13 on Saturday and declined by 10% earlier this week. However, it rebounded on Wednesday and is now approaching the $2.0 maerk once again. 

If CAKE continues its price recovery, it could rally towards the 50-day Exponential Moving Average (EMA) at $2.06.

The Relative Strength Index (RSI) on the 4-hour chart is 46, pointing upward toward the neutral 50 level, indicating fading bearish momentum. For the rally to be sustained, the RSI must move above the neutral level. 

On the flip side, if CAKE’s daily candle closes below the $1.88 support level, it could extend the correction toward the support zone around $1.79.

The post Pancakeswap price forecast: CAKE surges 4% as derivatives data turn bullish appeared first on CoinJournal.

Key takeaways

• Bitcoin is up 1% in the last 24 hours but continues to trade below $90k.
• The performance comes despite Trump’s Davos speech on Wednesday, which ended the imposition of new tariffs on European nations against the US purchase of Greenland.

Bitcoin remains below $90k despite improved risk sentiment

Bitcoin is currently in the green after adding 1% to its value in the last 24 hours, ending its six consecutive days of decline. 

The price recovery comes following strengthened global risk sentiment in response to US President Trump’s U-turn on Greenland at the World Economic Forum in Davos.

On Wednesday, Trump mentioned that he had reached an agreement with the North Atlantic Treaty Organization (NATO) on a framework for a future deal on Greenland. This ended the need to impose new tariffs on European nations.

In addition to that, Trump added that he hopes to sign the bill on crypto soon, as the US Congress continues to work on a crypto market structure bill that was postponed last week by the Senate Banking Committee.

However, the positive news hasn’t affected Bitcoin’s price action as it continues to trade below the $90k threshold. 

Institutional demand for Bitcoin is also on the decline. Data obtained from SoSoValue shows that spot Bitcoin ETFs recorded an outflow of $708.71 million on Wednesday, the third consecutive day of withdrawals and the highest single-day outflow since November 20. 

BTC eyes $93k if the $87k support holds

The BTC/USD 4H chart is bearish and efficient as Bitcoin has lost 7% of its value over the last seven days. 

It is currently trading below the 50-day Exponential Moving Average (EMA) at $92,044 and has lost the $90k psychological level. Bitcoin is trading at $89,900 after retesting the midpoint of a horizontal parallel channel at $87,787 earlier this week. 

If BTC continues its ongoing recovery, it could extend the advance toward the 50-day EMA at $92,044.

The RSI on the 4-hour chart is 40, pointing upward toward the neutral 50 level, indicating fading bearish momentum. However, the RSI must stay above the neutral 50 for the bulls to push the price higher. 

The Moving Average Convergence Divergence (MACD) indicator showed a bearish crossover on Tuesday, indicating downward pressure.

However, if BTC closes the daily candle below the $87,787 support, it could extend the fall toward the next support level at $85,569.

The post BTC stays below $90k despite Trump backing off Greenland tariff threats appeared first on CoinJournal.

• Axie Infinity (AXS) price jumps past $2 amid renewed GameFi investor interest.
• On-chain data shows rising exchange balances and declining holders.
• $2 remains a key support, with volatility and profit-taking signalling a looming pullback risk.

Axie Infinity (AXS) has staged an impressive comeback, surging past the $2 mark in the latest rally.

The token’s recovery has captured the attention of GameFi enthusiasts and investors alike.

This rebound comes amid a broader resurgence in the gaming and decentralised finance sector.

Strong AXS price recovery and market momentum

Over the past week, Axie Infinity (AXS) has jumped nearly 92%, highlighting renewed investor interest.

Today, in just 24 hours, the token rose by 19%, with its price currently at $2.406. This surge represents a strong rebound from the $1.06 low recorded earlier this week.

Furthermore, AXS’s market capitalisation now stands at $407 million, supported by over $1 billion in daily trading volume.

Such activity underscores the high liquidity and demand driving the current rally.

The rally is partly fueled by renewed optimism in the GameFi space.

Investors are increasingly attracted to projects like Axie Infinity that combine gaming with blockchain incentives.

South Korean traders, in particular, have contributed significantly to the token’s resurgence, trading AXS at a premium on major exchanges.

Additionally, the project’s development of the bAXS token has provided further momentum by promising new staking and ecosystem benefits.

On-chain data signals caution

Despite the bullish momentum, several on-chain indicators suggest caution.

The number of AXS holders has declined sharply in the past week, signalling profit-taking among investors.

Exchange balances have also risen slightly, indicating potential selling pressure that could slow or reverse gains.

Meanwhile, weekly active addresses on the Ronin network remain below 10,000, showing that user growth has yet to fully recover.

Futures open interest for AXS has reached $130 million, the highest in three years, highlighting elevated speculative activity and liquidation risk.

Furthermore, the transaction flow data presents a mixed picture.

Some investors are withdrawing AXS from exchanges, signalling bullish sentiment.

Others are depositing tokens back onto exchanges, suggesting caution or potential profit-taking.

These conflicting signals emphasise that while the short-term rally is strong, market dynamics remain fragile.

Axie Infinity price forecast

Looking ahead, $2 serves as a critical support level for Axie Infinity.

A sustained move above this point could pave the way for further gains in the short term.

However, the declining holder count and high speculative activity suggest that volatility may persist.

Investors should monitor both trading volume and on-chain metrics to gauge market sentiment.

Long-term growth for Axie Infinity (AXS) will likely depend on revitalising user engagement and expanding its GameFi ecosystem.

Despite the impressive rebound, caution is warranted as the token navigates this critical phase.

The post Axie Infinity surges past $2 as GameFi market revives, but caution looms appeared first on CoinJournal.

Key takeaways

• PI is up 1% in the last 24 hours, signaling a minor recovery after recording a fresh record low of $0.1502 on Monday.
• Selling pressure persists despite the recent slight recovery. 

Market sentiment remains bearish despite PI’s recovery

PI, the native coin of the Pi Network, is up 1% in the last 24 hours and is now trading at $1.91 per coin. The positive performance comes despite the broader cryptocurrency market recording losses in the last few hours.

According to PiScan, the reserves of centralized exchanges have decreased by 4.24 million PI tokens, indicating large withdrawals over the last 24 hours. The decline in exchange reserves reflects strong buying pressure, allowing PI to recover above $0.19.

Will PI hit $0.20 soon?

The PI/USDT 4-hour chart is bearish and efficient despite the coin adding 1% to its value in the last 24 hours. At press time, PI is trading at $0.191, roughly 30% up from Monday’s low at $0.1502. The recovery aligns with the strong buying pressure and could push PI’s price higher in the near term. 

The RSI of 33 means that PI is slowly escaping the oversold region as buyers step in. The MACD lines are still within the negative territory, indicating that the sellers have yet to fully relinquish control. 

If the recovery continues and PI hits the $0.1919 resistance level, it could rally towards the $0.2060 psychological zone. An extended bullish run would allow PI hit the previous weekly high of $0.2116.

However, a daily candle close below $0.1919 could see PI give up some of its recent gains and retest the support levels at $0.1835 and $0.1632 in the near term.

The post PI rebounds above $0.19 despite selling pressure: Check forecast appeared first on CoinJournal.