Schlagwort: blockchain analysis

Key takeaways

• BTC set a new all-time high of $125,559 on Sunday. 
• The coin rallied by 10% in the last seven days and could rally higher in the near term.

Bitcoin sets a new all-time high of $125k

Bitcoin, the number one cryptocurrency by market cap, rallied by 10% last week to reach a new all-time high of $125,559 on Sunday. At press time, BTC is trading at around $123,900, down 1.3% from its all-time high.

The rally comes amid growing institutional interest in Bitcoin and related products. Last week, spot Bitcoin ETFs in the United States recorded an inflow of over $3 billion. The surge in inflows for spot Bitcoin ETFs can be attributed to the ongoing shutdown of the United States government.

The shutdown has seen investors turn to risk-based assets like Gold and Bitcoin, with both assets hitting new all-time highs in the last 48 hours. With the Fed rate decision to come later this month, analysts are optimistic that Bitcoin will hit the $130k mark over the next few days or weeks. 

BTC eyes $130k as bullish trend grows stronger

The BTC/USD 4-hour chart is bullish and efficient as Bitcoin has performed excellently over the last few days. The bullish trend could see Bitcoin rally higher in the near term. 

The momentum indicators are currently bullish, with the Relative Strength Index (RSI) reading 70. The Moving Average Convergence Divergence (MACD) also showed a bullish crossover last week.

If BTC continues its rally, it could surge towards the next key psychological level at $130,000. However, it needs to overcome its all-time high of $125k before it can rally higher.

If the bulls fail to push BTC higher, the coin could face a correction and retest the support at $119k. The next major support level at $117k could serve as a strong base for the bulls in the near term.

The post What’s next for Bitcoin after hitting a new ATH? Check forecast appeared first on CoinJournal.

Key takeaways

• Solana is down 1.4% and trading above $230.
• The coin could rally to a new all-time high as on-chain and derivatives data turn positive.

SOL’s rally could be prompted by positive on-chain and derivatives data

SOL, the native coin of the Solana blockchain, added 11% to its value over the last seven days, making it one of the best performers in the top 10. The rally allowed SOL to top the $230 mark, with analysts now predicting new highs for the coin.

Data obtained from DeFiLlama revealed that Solana’s stablecoin market capitalization currently stands at $15.11 billion. This record comes as its stablecoin market cap has been steadily rising since mid-September. 

In addition to that, Solana’s Total Value Locked rose from $10.78 billion on September 28 to now stand at $12.69 billion, nearing its record highs of $13.02 billion. The rising TVL suggests growing activity and interest within the Solana ecosystem, including memecoins, DeFi, and stablecoins. More users are depositing and utilizing assets within SOL-based protocols.

Finally, on the derivatives aspect, Solana’s OI-Weighted Funding Rate data shows that more traders are betting on SOL’s price rallying higher in the near to medium term. According to CoinGlass, the OI has flipped a positive rate on Saturday and reads 0.0052% on Monday. Historically, once the funding rates flip to positive, SOL’s price has rallied sharply.

Bulls aiming to establish a new all-time high

The SOL/USD 4-hour chart is bullish and efficient after Solana found support around the 61.8% Fibonacci retracement level at $193.52 late last month. Since then, it has added 18% to its value and now trades at $233 per coin. 

The RSI of 58 shows that the bulls have regained control, with the MACD lines also above the neutral zone, suggesting a bullish bias. If the support level at $230 holds, SOL could rally higher and set a new all-time high above $295. However, the RSI has to stay above 50 for SOL to sustain an upward momentum in the near term.

On the flip side, if SOL faces a correction after its recent rally, it could drop towards the 50-day Exponential Moving Average (EMA) at $213.36. The support at $203 will likely hold in the near term.

The post SOL could break out to a new ATH amid positive on-chain data appeared first on CoinJournal.

Key takeaways

• BNB has set a new all-time high of $1,110 after rallying by more than 5% on Thursday.
• The coin could continue its rally towards the $1,500 psychological level.

BNB tops $1,100 as rally continues

BNB, the native coin of the Binance ecosystem, has hit a new all-time high after adding more than 5% to its value. The rally allowed BNB to hit the $1,100 mark for the first time in its history. 

The coin’s positive performance comes as Bitcoin and other major cryptocurrencies recorded excellent gains. Bitcoin hit the $121k mark for the first time since August, while Ether has breached the $4,500 resistance level.

BNB’s strong performance in recent months comes as Binance continues to establish itself as the leading cryptocurrency exchange in the world. The exchange processes roughly $20 billion in daily trading volume, 400% higher than its nearest competitor, Bybit. 

BNB could extend rally to $1,500 as bullish run continues

The BNB/USD 4-hour chart is bullish and efficient, as the coin has added 15% to its value in the last seven days. The momentum indicators are extremely bullish, indicating that buyers are currently in control.

The RSI of 71 means that BNB could enter the overbought region if the bullish trend persists. The MACD lines are also within the positive territory, suggesting a strong bullish bias.

At press time, BNB is trading at $1,087 per coin. If the trend continues, BNB could rally towards a new all-time high of $1,150. An extended bullish run would allow it to hit the $1,200 mark for the first time in its history.

However, if BNB undergoes a correction following its recent rally, it could drop below $1k and retest the support and TLQ level at $967. The bulls will defend this support zone, as failure to do so could see BNB dip lower towards $930.

The post What’s next for BNB after hitting a new ATH of $1,100? Check forecast appeared first on CoinJournal.

• Dogecoin (DOGE) forms a golden cross after defending key $0.22 support.
• Whales accumulate 450M DOGE as bearish pressure eases.
• Analysts see $0.33–$0.37 targets with $1 possible by 2026.

Dogecoin (DOGE) has returned to the spotlight after weeks of consolidation, with technical signals and on-chain activity painting a bullish picture for the popular memecoin.

Once seen just as a playful digital token, DOGE now commands a market capitalisation of nearly $39 billion and continues to attract both retail and institutional attention.

Golden cross sparks optimism

One of the most striking developments on Dogecoin’s chart is the formation of a golden cross, a technical pattern that occurs when a short-term moving average climbs above a longer-term one.

Historically, such a formation has preceded strong rallies in both Dogecoin and the broader altcoin market.

In addition, DOGE recently defended its $0.22 support zone, where the 0.618 Fibonacci retracement level intersects with the point of control, and has since been on a bullish trend.

Momentum indicators also support this outlook, with a hidden bullish divergence being confirmed on the Relative Strength Index (RSI), while the MACD lines are close to a bullish crossover.

These signals suggest that buyers are slowly regaining control of the market and that a continuation of the uptrend could follow.

The immediate hurdle remains the resistance around $0.2737, with a successful breakout potentially opening the path to $0.37 in the short term.

Whales accumulate DOGE as pressure eases

On-chain data shows that large holders have been quietly accumulating Dogecoin during recent pullbacks.

Santiment’s supply distribution figures reveal that wallets holding between 100,000 and 1 million DOGE tokens, along with those in the 10 million to 100 million range, accumulated about 450 million tokens in late September.

At the same time, mid-sized holders reduced their positions, suggesting some capitulated while stronger hands seized the opportunity to buy at lower prices.

This accumulation has been accompanied by a shift in sentiment in derivatives markets.

The long-to-short ratio on Coinglass has risen above one, indicating that more traders are betting on upside rather than further declines.

Dogecoin price outlook: key levels to watch

After months of pressure and a 23% decline from its September peak, Dogecoin (DOGE) appears to have stabilised and is regaining momentum.

With bearish pressure fading and buyers stepping in, market conditions appear more favourable for a breakout.

The bullish technical signals, on-chain accumulation by whales, and improving sentiment in the derivatives market all point toward a bullish outlook.

And while risks of volatility remain, the alignment of bullish indicators has revived the debate over whether Dogecoin could stage another breakout.

A decisive close above $0.256 would confirm strength and increase the chances of a rally toward the $0.311 resistance zone.

And should momentum continue, a push through $0.2737 could pave the way for higher targets that analysts have pointed out, including $0.37.

On the downside, a failure to hold current levels could see DOGE retest $0.22, and in a deeper correction, the price could revisit $0.18.

However, positive readings from the Chaikin Money Flow (CMF) index suggest that selling pressure is not overwhelming, reducing the likelihood of a significant breakdown.

The post Dogecoin price outlook: golden cross, whale accumulation and $1 target on the horizon appeared first on CoinJournal.

Key takeaways

• SOL is up 7% in the last 24 hours and is now trading above $220.
• The coin could rally towards the $240 resistance as the broader market bounces back from recent lows.

SOL tops the $220 resistance level

The cryptocurrency market has turned things around following a poor start to the week. Bitcoin, the leading cryptocurrency by market cap, hit the $119k level a few hours ago, allowing altcoins to rally higher.

Solana’s SOL added more than 7% to its value in the last 24 hours, making it the second-best performer among the top 10 cryptocurrencies by market cap. SOL’s rally is fueled by Circle’s tokenized U.S. Treasury fund, USYC, launched on the Solana blockchain. This launch means that USYC has expanded beyond the Ethereum, Near, Base, and Canton networks.

USYC has a $630M market cap, making it the fifth-largest tokenized treasury offering. Its launch on Solana could increase the adoption of SOL among institutional investors. The integration on Solana adds new potential use cases for USYC, including using the tokenized treasury as margin collateral for derivatives trading or as a yield-bearing asset in Solana-based DeFi platforms.

SOL targets $240 as rally continues

The SOL/USD 4-hour chart has switched bullish after the coin rallied over the last 24 hours. The coin has broken above the $220 resistance level and is now trading at $224 per coin.

The momentum indicators have also switched bullish. The RSI of 70 shows that buyers are in control, and if it rallies higher, the RSI could enter the overbought region. The MACD lines are also within the positive region, suggesting a bullish bias.

If the rally continues, SOL could surge towards the next major resistance level at $241. However, the SOL/USD 4-hour chart is inefficient, which could see it grab liquidity around $214 before rallying higher. 

On the flip side, if the market undergoes a correction after its recent rally, SOL could retest the support and TLQ level at $205. The bulls would defend this level, as losing it could see SOL dip below $200.

The post Solana price prediction: SOL eyes $240 amid market rally appeared first on CoinJournal.