Kategorie: Crypto Analysis

Key takeaways

• DUSK has dropped below $0.2, losing 35% of its value in the last 24 hours.
• The coin rallied to $0.32 on Monday, up 150% within a week.

DUSK cools down following its recent surge

DUSK, the native coin of the Dusk Network, has dropped below the $0.20 level, losing more than 35% of its value in the last 24 hours. The bearish performance comes after the coin added 150% to its value within seven days, outperforming major cryptocurrencies.

Data obtained from CoinGlass shows that futures OI at exchanges reached a new all-time high of $47.94 million on Monday and steadied around $39 million on Tuesday. 

During that same period, the OI on the Binance exchange has reached $20.54 million, levels not seen since February 2023. The growing OI means new or additional money is entering the market, resulting in DUSK’s price surging higher. 

Santiment data also shows that the DUSK ecosystem’s trading volume reached a new all-time high of $298.43 million on Monday and steadied around $264.16 million on Tuesday. 

On Monday, Dusk announced its partnership with Chainlink to integrate key standards across DuskEVM. The integration will enable cross-chain interoperability for tokenized real-world assets and support real-time, high-integrity data for compliant financial applications, backed by NPEX, a fully regulated Dutch stock exchange.

Will DUSK rally towards $0.33?

The DUSK/USD 4-hour chart remains bullish and efficient despite the 35% pullback within the last 24 hours. It is still trading above the weekly resistance level at $0.17, with the bulls defending this level.

If the bulls regain control and DUSK closes its daily candle above the weekly resistance level, it could extend the rally toward the December high of $0.33.

The Relative Strength Index (RSI) on the 4-hour chart stands at 74, above the overbought threshold, indicating strong bullish momentum. The Moving Average Convergence Divergence (MACD) also showed a bullish crossover.

However, if the correction persists, DUSK could extend the decline toward the 50% price level at $0.18.

The post DUSK dips 35% after surging 150% in seven days: Check forecast appeared first on CoinJournal.

Key takeaways

• Dogecoin is down 7% in the last 24 hours, making it the worst performer among the top 10.
• The leading memecoin could record further losses as technical indicators switch bearish.

Memecoins underperform as the broader market dips

The cryptocurrency market is having a poor start to the week as Bitcoin, Ether, and XRP are all in the red. The biggest losers remain the memecoins, with Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), extending the decline from last week.

Dogecoin has lost 7% of its value in the last 24 hours, making it the worst performer among the top 10 leading cryptocurrencies by market cap. It is currently trading below the crucial moving averages, aiming for the immediate support to enable it rally higher. 

The decline in Dogecoin aligns with the broader market pullback, as Bitcoin (BTC) drops below $93,000 on Monday after a leverage-driven rally failed to hold momentum.

DOGE could dip lower if the selling pressure persists

The DOGE/USD 4-Hour chart is bearish and efficient, thanks to Dogecoin losing 7% of its value in the last 24 hours. 

At press time, DOGE is trading at $0.1275, below the 20-day Exponential Moving Average at $0.1375 and the 50-day EMA at $0.1417, maintaining a bearish setup as both averages slope lower.

The Moving Average Convergence Divergence (MACD) histogram on the 4-hour chart has slipped into negative territory and is expanding, suggesting strengthening bearish momentum. 

The Relative Strength Index (RSI) at 37 reflects an increase in selling pressure and is getting closer to the oversold region. 

If the bulls regain control, DOGE could rally towards the $0.14 level in the near term. However, failure to improve the market sentiment could see DOGE slip below the December 31 low at $0.1161. An extended bearish run could allow the bears to target the October 10 low at $0.09500.

The post Will DOGE slip below $0.11 if selloff continues? Check forecast appeared first on CoinJournal.

Key takeaways

• ETH is down 3% in the last 24 hours and is now trading above $3,200.
• The bearish performance comes amid renewed trade tensions between the U.S. and the EU.

ETH dips below $3,200 on the U.S.-EU trade tensions

Ether, the second-largest cryptocurrency by market cap, is down 3.4% in the last 24 hours and briefly dropped below the $3,200 level. The coin is now trading at $3,205 after slightly recovering from the dip.

The bearish performance comes amid the ongoing trade tensions between the United States and the European Union. President Donald Trump threatened to escalate tariffs, starting at 10% on February 1 and rising to 25% by June, on imports from eight NATO allies (Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland).

The president added that the tariffs will stay in place until Denmark agrees to sell Greenland to the United States. 

Rachael Lucas, crypto analyst at BTC Markets, stated that,

“The latest U.S.-EU trade war headlines have certainly injected fresh volatility into an already uneasy market … adding a layer of geopolitical uncertainty that markets were in no shape to absorb. But while the headlines are loud, they’re not the fundamental driver of the current pullback in crypto.”

ETH eyes the $3,360 resistance level as the market begins recovery

The ETH/USD 4H chart is bearish and efficient after Ether lost more than 3% of its value in the last 24 hours. The technical indicators remain positive, suggesting that ETH could rally higher in the near term.

The RSI of 52 is above the neutral 50, indicating a fading bullish momentum. The MACD lines remain above the neutral zone, signalling that the buyers remain in control.

If the market recovery continues, ETH could rally towards the first major resistance level at $3,360 over the next few hours or days.

However, if the market correction continues, ETH could retest the January 12 swing low of $3,068.

The post Ethereum price forecast: Ether reclaims $3,200 after slipping to $3,170 appeared first on CoinJournal.

Key takeaways

• PUMP is up 1.1% in the last 24 hours, outperforming the broader crypto market.
• The recent rally comes after Pump.fun launched a new callout in the previous feature that lets creators share trending coins on the platform.

Pump.fun’s DEX volume surges as price approaches $0.003

PUMP, the native coin of the Pump.fun DEX is up 1% in the last 24 hours, outperforming the broader crypto market.

The positive performance comes after Pump.fun released a callout feature on Thursday for creators to share listed coins with their followers. This latest development could boost the social interest and trading activity on the platform. 

The release also comes when Pump.fun’s DEX volume is on the rise, hitting $84.34 million a few hours ago. 

In addition to that, derivatives data indicate wavering retail interest in PUMP as capital flow and funding rates see-saw over the last week. According to CoinGlass, PUMP’s Open Interest (OI) is down 2% in the previous 24 hours to $237.69 million, pulled from $250 million twice so far this month.

Furthermore, the OI-weighted funding rate is at -0.0032%, pulling into the negative territory, suggesting that traders are holding more short positions. 

PUMP eyes the $0.0033 psychological level

The PUMP/USD 4H Chart is bullish and efficient as the cryptocurrency has performed excellently since the start of the week. PUMP is trading at $0.0029 after facing rejection in the last two sessions.

The Moving Average Convergence Divergence (MACD) remains above the signal line and in positive territory. The Relative Strength Index (RSI) at 60 rises toward the overbought zone, consistent with this week’s recovery.

If the daily candle closes above $0.003000, it would keep the near-term bias supported and push PUMP’s price towards $0.0033. The next major resistance level stands at $0.004048

However, if the bulls fail and PUMP drops below the 20-day EMA at $0.002577, it could dip further towards the $0.002330 support level.

The post PUMP eyes $0.0033 on release of creator-focused callout feature appeared first on CoinJournal.

Key takeaways

• ETH has maintained its price above $3,300 despite losing less than 1% of its value.
• The leading altcoin could rally higher in the near term amid growing institutional demand.

ETH stays above $3,300 despite market pullback

ETH, the second-largest cryptocurrency by market cap, has lost less than 1% of its value in the last 24 hours and is now trading above $3,300 per coin.

This performance comes despite growing institutional demand for Ethereum products. According to data obtained from SoSoValue, Ether-linked funds saw steady demand. Spot ether ETFs recorded $175 million in net inflows on Wednesday, led by BlackRock’s ETHA and Grayscale products, extending a gradual recovery in flows after a quiet December.

The market pullback was primarily caused by the U.S. Senate Banking Committee (SBC) pushing back on discussing the crypto market-structure bill after Coinbase withdrew support for the latest draft.

The committee Chairman, Tim Scott, announced in an official statement that bipartisan leaders, alongside the crypto and financial sectors, are continuing to work on the draft.

The postponement comes after Coinbase’s CEO, Brian Armstrong, suddenly opposed the way, stating that it is better to have no bill than a bad one. 

Armstrong pointed out that the bill kills stablecoin rewards, erodes the Commodity Futures Trading Commission’s (CFTC) authority, imposes DeFi prohibitions that violate privacy rights, and imposes a de facto ban on tokenized equities.

ETH eyes a breakout to $3,500

The ETH/USD 4-hour chart remains bullish despite the current market pullback. ETH is trading above $3,300 as the bulls defend the support level at $3,288. 

The MACD indicator on the 4-hour chart remains above the signal line, with green histogram bars above the zero line, expanding in support of the bullish thesis.

The RSI of 67 shows that buyers remain in control, with the bulls breaking above the immediate 200-day EMA resistance at $3,339. A daily candle close above this level could see ETH surge towards the resistance zone at $3,447, tested on December 10.

However, failure to overcome this resistance level could see ETH retracing towards the $3,000 psychological region.

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