Schlagwort: blockchain analysis

Key takeaways

• Ether is trading at $2,500 and could rally to the $3k level soon.
• The positive performance comes amid increased retail investment in cryptocurrencies.

ETH recovers the $2,500 level, could surge higher soon

Ether (ETH), the native coin of the Ethereum blockchain, has hit the $2,500 mark and could rally higher. This latest development comes following a bearish weekend that saw ETH’s price dip to the $2,100 region.

At press time, the price of ETH stands at $2,501 and could rally higher if the market conditions remain bullish. The positive performance comes as more retail investors increase their exposure to cryptocurrencies.

According to recent data by eToro, U.S. retail investors are increasing crypto exposure amid a weakening dollar and rising global uncertainty. eToro revealed that 58% of U.S. retail investors are rebalancing their portfolios to favor digital assets.

ETH could surge to the $3k resistance level soon

The ETH/USD 4-hour chart is extremely bullish and efficient, indicating that Ether’s price could surge higher in the near term. Ether has taken out the inducement liquidity (ILQ) at $2,378 yesterday and could rally towards the next resistance level.

If the bullish momentum persists, ETH could take out the monthly high price of $2,877 and rally to $3k, its highest level since February. In the event of an extended rally, ETH could seek out the fair value gap (FVG) around $3,200.

The relative strength index (RSI) of 62 shows that buyers are in control. If the RSI goes higher, then the ETH/USD pair will enter the overbought territory. The MACD lines are also in the positive region, indicating a bullish bias.

While the market remains bullish, the bears could still regain control. If that happens, ETH could retest the $2,100 lows.

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Key takeaways

• SEI is up nearly 80% in the last seven days after the Sei blockchain was chosen by the Wyoming Stable Token Commission.
• The coin could rally to the $0.40 level soon if the bullish momentum persists.

SEI surges above $0.30

SEI, the native coin of the Sei blockchain, was one of the best performers last week, adding nearly 80% to its value during that period. The positive performance comes amid a market-wide sell-off sparked by the conflict between Iran and Israel.

The coin rallied after Sei was announced as one of the two blockchains selected in the last round by the Wyoming Stable Token Commission to become home to WYST, the first fiat-backed stablecoin issued by a U.S. state.

SEI rallied to $0.34, its highest level since January 2025. It has slightly declined to the $0.30 level but could surge towards the $0.40 level if the bullish momentum continues.

SEI could surge towards $0.40 soon

The SEI/USD 4-hour chart is bullish and efficient, indicating that buyers are currently in control and could push SEI’s price higher in the near term. At press time, the price of SEI stands at $0.3045, establishing a strong support level at $0.2900.

The Relative Strength Index (RSI) of 72 shows that buyers are fully in control of the market. The MACD lines are also in the bullish zone, indicating that the SEI/UISD pair could rally higher.

If the bearish momentum continues, SEI could test the next resistance levels at $0.4100. In the event of an extended rally, SEI could surge towards $0.48 for the first time since January 2025. 

However, the SEI/USD pair could turn bearish if there is a breakdown in the agreement between Israel and Iran. If that happens, SEI could retest the $0.2900 low or even drop lower to $0.23.

The post SEI price forecast: Will SEI hit $0.4 after its 80% rally in seven days? appeared first on CoinJournal.

Key takeaways

• BCH is up 4.5% in the last 24 hours and could rally higher amid technical and fundamental support.
• The positive performance comes after Bitcoin Cash tested the support level around $430 over the weekend.

BCH reclaims $450 after creating a low below $440

BCH, the native coin of the Bitcoin Cash blockchain, was on an uptrend last week and broke past the $500 mark for the first time since December 2024. However, the conflict in the Middle East sent the broader crypto market into a bearish frenzy.

The bearish performance saw BCH dump to create a low of $437 over the weekend. However, the market is now bullish thanks to the ceasefire deal between Israel and Iran, with BCH reclaiming the $450 level.

At press time, the price of BCH stands at $478 and could rally higher towards $506 in the short term.

BCH could test the $550 resistance level

The BCH/USD 4-hour chart is bullish and efficient, indicating that the bulls are fully in control after sweeping the low around $440. The technical indicators are extremely bullish, and this could drive BCH’s price to a new 2025 high.

The MACD lines have crossed the neutral zone into the positive territory, indicating a strong buying pressure. The RSI of 59 also shows that buyers are in control. However, the RSI needs to surge to a minimum of 80 to indicate that the BCH/USD pair is oversold. 

If the rally continues, BCH will take out last week’s high of $506 and head towards the $550 resistance level. The last time BCH traded at $550 was in December 2024, during the market frenzy heading into President Trump’s second term in office.

In the event of an extended rally, BCH could test the structural liquidity level at $630. However, this could happen if backed by strong fundamental events in the broader cryptocurrency market.

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Key takeaways

• Chainlink’s LINK could rally towards the $17 resistance level amid improved technicals.
• Chainlink partnered with Mastercard on Tuesday, with the price surging by 11% afterward.

LINK hits $13 after Mastercard partnership, looks to rally higher

LINK, the native coin of the Chainlink blockchain, surged to the $13 mark yesterday after adding 11% to its value. At press time, the price of LINK stands at $13.284 and could rally higher in the near term.

The positive performance comes amid strong fundamentals. The ceasefire deal in the Middle East spurred a massive rally in the market. Furthermore, Chainlink announced on Tuesday that it has partnered with Mastercard to enable over 3 billion cardholders to buy crypto onchain.

In addition to leveraging Chainlink’s interoperability protocol and data standards, the partnership will also tap into key platforms and protocols, including Zerohash, Shift4 Payments, and XSwap.

LINK could rally towards the $17 resistance level

The LINK/USD 4-hour chart is currently bullish after the price defended the $11 support level over the weekend. The technical indicators are also bullish and suggest that LINK could rally higher in the near term.

The RSI of 62 shows that LINK is currently experiencing buying pressure from investors. If the momentum increases, the RSI could enter the overbought region of 80, last seen in May.

The MACD lines have also crossed into positive territory, indicating that the bulls are currently in control. While LINK/USD is bullish, the price is still inefficient. LINK could fill the fair value gap (FVG) at $12.4 before rallying higher. 

With the bulls still in control, LINK could rally to the first resistance level at $14.23 in the coming hours or days. In the event of an extended bullish run, LINK could test the second major resistance level at $17 for the first time since May.

Overall, the LINK/USD pair is positive, and we might see a slight correction before the rally resumes.

The post LINK price forecast: LINK could rally to $17 following Mastercard partnership appeared first on CoinJournal.

 

Key takeaways

• Tron’s TRX recently overtook Dogecoin to become the 8th-largest cryptocurrency by market cap.
• DOGE is currently up 5,5% in the last 24 hours and could rally higher after breaking a key resistance level.

DOGE’s market cap hits $24B, looks to overtake TRX

DOGE, the native coin of the Dogecoin ecosystem, is one of the best performers among the top 10 cryptocurrencies by market cap. The coin added 5.5% to its value in the last 24 hours and now trades at $0.1626.

The memecoin showed resilience despite market-wide volatility triggered by the U.S.-Iran conflict in the past week. However, it lost its 8th position in the market to Tron’s TRX last week.

Despite that, DOGE could soon overtake TRX if the current rally is sustained. DOGE has a market cap of $24.3 billion, while TRX’s market cap stands at $25.6 billion. Dogecoin could rally to new highs after bouncing from a two-month low of $0.1508, with technical indicators suggesting an upward movement from here.

DOGE could retest the $0.17-$0.18 resistance level

The DOGE/USDT 4-hour chart has turned bullish thanks to the ongoing market rally. At press time, the price of Dogecoin stands at $0.16356, and it could rally higher in the near term.

While the price action is inefficient, DOGE could retest the support level at $0.15788 before rallying to the next resistance level at $0.18060. An extended rally would allow DOGE to hit the next resistance level at $0.20 in the coming days.

The RSI of 56 shows that buyers are taking control of the DOGE/USDT pair and could push it higher. The MACD lines are also looking to cross into the negative zone, indicating a strong bullish momentum.

While the bulls are in control, the situation in the Middle East remains precarious and could deteriorate. If the bearish trend resumes, DOGE might retest the $0.145 lows again.

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