Schlagwort: blockchain analysis

Key takeaways

• DOGE is down 7.5% in the last 24 hours as the broader crypto market retraces.
• The coin could drop to the $0.18 resistance level before resuming its rally.

DOGE dips 7.5% as broader crypto market retraces

The cryptocurrency market had an explosive start to the week, with Bitcoin hitting an all-time high of $123k while Ether rallied above $3k. DOGE, the native coin of the Dogecoin blockchain, also rallied to the $0.215 level on Monday.

However, the broader crypto market is currently in a retracement, with selling pressure keeping the price down. BTC is trading below $117k while Ether has dropped to the $2,900 region.

Dogecoin is not left behind as the leading memecoin has lost 7.5% of its value in the last 24 hours to now trades below $0.20. The correction could last longer as the bears could test the lower support in the coming hours.

However, DOGE could resume its rally soon as institutional activity shows growing demand. Market participants are speculating about fast-tracked ETF paths for high-volume tokens like DOGE and XRP, prompting whale-led accumulation near local lows.

DOGE could retest $0.18 support level

The DOGE/USD 4-hour chart is bullish and efficient despite the coin losing 7.5% of its value in the last 24 hours. The technical indicators are still bullish but are showing signs of exhaustion.

If the current correction continues, DOGE could test the next support level (TLQ) at $0.18046 over the next few hours. At press time, DOGE is trading at $0.1916. However, if the retracement drags on longer, DOGE could retest last week’s low of $0.16510.

The RSI of 56 shows that the bullish bias is fading. The MACD lines are also approaching the neutral zone, suggesting limited buying orders. If the bulls recover control of the market, DOGE could surge past Monday’s high of $0.21374 before testing the $0.22856 high. In the event of an extended rally, DOGE could test the May high of $0.260.

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Key takeaways

• Ether is up 3% in the last 24 hours and now trades above $3k.
• The coin could rally towards $3,400 soon amid bullish sentiments.

Ether tops $3k as BTC hits a new all-time high

The cryptocurrency market is having an excellent start to the week, with Bitcoin and other major cryptos in the green. Bitcoin, the leading cryptocurrency by market cap, hit a new all-time high of $123k earlier today after adding more than 4% to its value in the last 24 hours.

It has slightly retraced to the $121k region, but analysts expect it to resume its upward movement soon. 

Ether, the leading altcoin and second-largest cryptocurrency by market cap, is not left out of this rally. Ether added more than 3% to its value in the last 24 hours and is now approaching the $3,100 mark.

This rally comes amid growing institutional demand for Ethereum products. Data obtained from Coinglass revealed that spot Ethereum ETFs recorded a $1.4 billion volume over the last 24 hours. Thanks to the growing volume, Ethereum ETFs now have over $12 billion in assets under management, led by BlackRock’s iShares Ethereum Trust ETF. 

ETH targets $3,400 as bulls look to push price higher

The ETH/USD 4-hour chart is bullish and efficient, suggesting that Ether could rally higher in the near term. Ether inches closer to the 61.8% Fibonacci retracement level at $3,067 drawn from the December 16 high of $4,107 to the April 9 low of $1,385. 

A daily close above this level could see ETH rally towards the 78.6% Fibonacci level at 3,525. Furthermore, its 50-day Exponential Moving Average (EMA)  crossing above the 200-day EMA suggests a golden crossover, generally considered to be a buy signal.

The RSI of 73 and the MACD lines within the positive zone serve as added bullish confluences. If the rally continues, ETH could cross the first major resistance level at $3,438 over the next few hours or days. An extended bullish performance would allow ETH to hit $3,755 for the first time since January 5th.

However, if Ether fails to hold above $3k, it could retest the 50% Fibonnaci level at $2,751.

The post Ether eyes $3,400 as bulls push price above $3k appeared first on CoinJournal.

Key takeaways

• Hedera’s HBAR is the third-best performer among the top 20 cryptocurrencies by market cap.
• The coin is targeting the $0.32 resistance level after overcoming $0.24 a few hours ago.

HBAR rallies as BTC sets a new all-time high

The cryptocurrency market is having a positive start to the week thanks to rallies by Bitcoin, Ether, XRP, HBAR, and other major coins and tokens. The rally comes after last week’s excellent performance and could extend further as investors prepare for a crucial week in the United States.

Bitcoin has set a new all-time high of $122,800 a few minutes ago after adding 4% to its value in the last 24 hours. Ether and XRP, the two leading altcoins, are also trading in the green.

HBAR, the native coin of the Hedera blockchain, is up 10% in the last 24 hours, making it the third-best performer among the top 20 cryptocurrencies by market cap. The coin has now surpassed the $0.24 resistance level and could rally higher soon.

HBAR targets $0.32 as bulls look to extend rally

The HBAR/USD 4-hour chart is bullish but inefficient, suggesting that the pair could sweep liquidity to the downside before embarking on any upward rally. The technical indicators are bullish, suggesting a further rally in the near to medium term.

The Relative Strength Index (RSI) of 74 shows that HBAR is heading into the overbought region if the positive momentum holds. Furthermore, the MACD lines are within the positive zone, indicating a bullish bias.

If the bulls remain in control, HBAR could rally towards the first major resistance level at $0.28452, last tested on March 2nd. In the event of an extended rally, HBAR could retest the $0.32281 level for the first time since January. 

However, if the bulls fail to leverage this momentum, HBAR could retest the ILQ level at $0.22556 in the coming hours or days. An extended bearish condition would see HBAR drop to the TLQ level at $0.19152.

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Key takeaways

• ETH is up 8% in the last 24 hours and is currently trading above $3k.
• The coin could rally towards the $3,700 resistance if the daily candles close above $3k.

Ether hits $3k following strong ETF and treasury inflow

Ether, the second-largest cryptocurrency by market cap, was one of the best performers among the top 10 cryptocurrencies. As Bitcoin was hitting a new all-time high above $118k, Ether was topping the $3k resistance level.

At press time, the price of Ether stands at $3,001, up 7.7% in the last 24 hours. The positive performance comes thanks to strong buying pressure across ETH exchange-traded funds (ETFs) and crypto treasury companies.

Bloomberg ETF analyst Eric Balchunas revealed on Thursday that US spot Ethereum ETFs recorded net inflows of $211.32 million on Wednesday, marking four consecutive days of positive flows totaling $468.63 million.

According to the analyst, BlackRock’s iShares Ethereum ETF (ETHA) has recorded over $800 million in daily volumes in the past two days, 4x its average. 

“Given the price is also up, prob see some chunky flows next couple of days. Decent chance to break single-day record of $292m,” he added.

ETH eyes $3,700 as bullish bias grows

The ETH/USD 4-hour chart is bullish but inefficient, suggesting that the pair could sweep liquidity to the downside before continuing its rally. The technical indicators are bullish, suggesting a strong buying bias.

The RSI of 86 shows that Ether is currently heading into the overbought region. The MACD lines are also within the positive zone, with buyers firmly in control of the market. The pair also shows rising green histogram bars above its neutral zero line, suggesting bullish momentum is gaining traction and continuing an upward trend.

If ETH closes above the $3k resistance, it could extend its rally and target the next daily resistance at $3,700. If the rally continues, ETH could surpass the high of $4,100 achieved in December 2024.

However, if ETH faces a rejection at the $3k resistance, it could retest the support and ILQ level at $2,770 in the coming hours.

The post Ether could extend rally if it closes above $3k resistance; check forecast appeared first on CoinJournal.

Key takeaways

• Bitcoin hit a new all-time high of $112k after adding 3% to its value on Wednesday.
• The coin could rally towards $115k-$120k if macro conditions remain favorable and price action holds.

Bitcoin hits a new all-time high

Bitcoin, the leading cryptocurrency by market cap, surged to a new all-time high price on Wednesday after adding 3% to its value. The new Bitcoin all-time high now stands at $112,128 as analysts predict the coin to hit between $115k and $120k over the coming weeks or months.

The positive performance comes amid growing institutional demand. Recent reports reveal that spot Bitcoin ETFs now have nearly $150 billion in assets under management (AUM).

Furthermore, an increasing number of companies are adding Bitcoin to their balance sheets. Strategy, Metaplanet, and GameStop are the biggest corporate Bitcoin adopters, but more companies are now implementing Bitcoin treasuries.

BTC could surge to $115k

The BTC/USD 4H chart is bullish but inefficient after Bitcoin rallied to a new all-time high. This means that Bitcoin could temporarily dip to the $109,700 level to grab liquidity before rallying higher. 

The Relative Strength Index (RSI) of 65 shows that Bitcoin is currently in a buying spree, but investors could push it higher. Furthermore, the MACD lines are in the positive zone, suggesting a bullish bias.

If Bitcoin rallies higher and $112K becomes support, the rally could extend toward $116K–$120K. Supporting confluences for this rally include a clean break of all-time high, continued accumulation by institutions, lack of major resistance until $115k psychological level, and the 4-Hour Fair Value Gap ($109,800-$110,800) remaining intact.

However, if the rally stalls at the all-time high levels, we may see a correction. The failed breakout above $112,000 with no sustained momentum could see BTC dip lower. If that happens, the 4H FVG around $109k would not provide any major support, and BTC could drop to the $108k level.

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