Kategorie: Crypto News

Key takeaways

• Solana’s SOL is down 9% in the last 24 hours and risks dropping to the $120 support level.
• The head and shoulder pattern on the daily timeframe indicates that the bears are firmly in control.

Solana dips 9% amid wider market bearish movement

SOL, the native coin of the Solana ecosystem, is down 9% in the last 24 hours and could drop lower in the coming hours and days. At press time, SOL has dropped below the $130 mark and could test the $120 support level if the bearish trend continues.

Solana’s poor performance comes amid bearish conditions in the wider market. Bitcoin, the leading cryptocurrency by market cap, has dropped to the $100k region as the crisis in the Middle East escalates.

The United States is increasingly involved, with President Trump threatening further airstrikes on Iran. With Bitcoin dropping to $100k, Ether, SOL, and other major cryptocurrencies are also in the red.

SOL could test the $120 support level

With the broader market currently bearish, sellers are in control of the SOL/UJSD pair. The 4H chart indicates that SOL could face further selling pressure in the coming hours and days.

At press time, the price of SOL stands at $128.6. If the bearish trend continues, SOL could test the next support level at $120 soon. An extended bearish trend could see SOL drop to the $100 level for the first time since April.

The MACD is deeply in the negative zone, indicating sellers are in control. The SOL/USD pair also has an RSI of 34, showing strong selling pressure on Solana’s native coin.

However, if the market conditions improve, SOL could test the first liquidity level around $148 per coin. The second resistance level at $165 seems unlikely at the moment unless the market embarks on a massive rally.

The post SOL’s pattern suggests the coin could drop to $120 appeared first on CoinJournal.

Key takeaways

• ETH is the worst performer in the top 10 today, losing 7% of its value.
• The cryptocurrency risks dropping to the $2k level amid growing selling pressure.

Ether drops below $2,300 after dipping 7%

Ether, the second-largest cryptocurrency by market cap, is the worst performer among the top 10 cryptos. It has lost 7% of its value in the last 24 hours and now trades below $2,300.

At press time, the price of Ether stands at $2,274 and risks dropping to the $2k psychological level if the bearish trend continues. Its poor performance comes as the broader crypto market records losses.

Bitcoin, the leading cryptocurrency by market cap, has dropped to the $102k region amid the growing tensions in the Middle East. If the trend continues, BTC, ETH, and other major cryptocurrencies could record losses in the coming hours and days.

Ether could test the support level at $2,174

The ETH/USD 4H chart is currently bearish, and the pair could record further losses if the trend continues. The RSI of 35 shows that Ether is facing heavy selling pressure from investors.

The MACD line crossed into negative territory since June 12th, indicating a sustained period of bears controlling the market. With the market still bearish, ETH could test the next support level at $2,174 in the coming hours or days. Failure to defend the $2,174 support level could see ETH quickly dump to the $1,860 region for the first time since May.

However, if the narrative changes and the bulls regain control, ETH could quickly target the next liquidity zone around $2,450. An extended bullish run could see it hit the transactional liquidity zone at around $2,700.

The post Ether price prediction: ETH risks dropping to $2k as selling pressure increases appeared first on CoinJournal.

Key takeaways

• Cardano’s ADA dips nearly 2% in the last 24 hours and now trades above $0.55.
• Investors are optimistic about ADA’s price action ahead of the anticipated Leios upgrade.

ADA dips 8% this week, but bulls keep hope alive

ADA, the native coin of the Cardano ecosystem, has underperformed this week, mirroring the performance of the broader crypto market. It has lost 8% of its value in the last seven days and now trades at $0.57 per coin.

The poor performance comes as Bitcoin and other major cryptocurrencies recorded losses. However, the losses haven’t deterred bulls who are optimistic ahead of Cardano’s upcoming Leois upgrade.

Cardano-based Leios upgrade aims to dramatically boost network throughput and scalability. According to Input Output Global (IOG), the research arm behind Cardano, Leios is designed to optimize transaction processing and resource utilization, especially during peak block activity. 

IOG added that the upgrade introduces new mechanisms like endorsements to maintain security and data availability while boosting overall throughput.

ADA could hit $0.65

The Leois upgrade will be implemented in the fourth quarter of the year and could see ADA rally in the medium term. However, in the short term, ADA could bounce back from its recent bearish slump and surge towards the $0.65 resistance level.

If the bulls regain control of the market, ADA could likely hit the $0.65 resistance level in the short term. An extended bullish run could see ADA hit $0.77 for the first time since May.

However, if the bears remain in control, ADA could test the $0.5096 support level in the coming hours or days. The MACD is still within the negative zone, indicating that sellers are currently in control. The RSI of 37 also shows that ADA is facing heavy selling pressure from investors. 

Unless the narrative changes, ADA could dip lower in the coming hours or days before it embarks on a recovery.

The post ADA price prediction: Will ADA rally ahead of the Leios Upgrade? appeared first on CoinJournal.

Key takeaways

• BTC has lost 1% of its value over the last few hours and now trades below $103,500.
• The coin could dip towards the $100k support level if bearish sentiment persists.

Bitcoin dips below $104k as bears gain control

The cryptocurrency market is having a poor weekend so far, with Bitcoin and other major cryptocurrencies currently in the red. Bitcoin, the number one crypto by market cap, has lost roughly 1% of its value over the last 24 hours, dropping below $104k in the process.

At press time, the price of Bitcoin stands at $104,400 and could dip further if the bearish sentiment continues. The bears regaining control in the last few hours resulted in $450 million in liquidations, mostly long positions.

Data obtained from CoinGlass revealed that $387 million of liquidations were tied to long positions that bet on profiting from rising prices. In a note, James Toledano, chief operating officer at Unity Wallet, stated that,

“The mixed view of whether BTC will go above $110,000 again or drop into the $90,000 area doesn’t surprise me at all and underscores the overall indecision people and markets feel. The present BTC stalemate reflects a market caught between bullish long-term sentiment and short-term macroeconomic and geopolitical uncertainty.”

BTC could dip to $100k amid bearish sentiments

Bitcoin is currently trading above $103k but could dip lower as bearish sentiment grows stronger. The ongoing conflict in the Middle East continues to affect the cryptocurrency market, with no obvious resolution in sight.

The technical indicators are pointing to a downward movement in the near term. The 4H Bitcoin MACD remains in the negative zone, indicating that sellers continue to dominate the higher-timeframe narrative. The relative strength index of 44 also suggests that Bitcoin is still facing selling pressure from investors.

If the bears continue to dominate, Bitcoin could test the $100k support level in the coming hours or days. Failure to hold the $100k support level could see BTC spiral to $90k almost immediately.
However, if the bulls regain control, BTC could target the nearest liquidity level around $106,672. An extended bullish momentum could see BTC rally towards the transactional liquidity around $109k.

The post Weekend Bitcoin price forecast: Is BTC heading towards $100k? appeared first on CoinJournal.