Schlagwort: blockchain analysis

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.

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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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Key takeaways

• Ripple’s XRP is up nearly 8% in the last 24 hours and now trades above $2.18.
• The coin could rally towards $2.33 after breaking past the $2.15 resistance level.

XRP bounces back on strong market conditions

XRP, the native coin of the Ripple ecosystem, is one of the best performers among the top 10 cryptocurrencies by market cap. It is up nearly 8% in the last 24 hours and is currently approaching the $2.20 mark.

The rally comes after President Trump announced a ceasefire between Israel and Iran on Monday. Analysts are optimistic that XRP could surge to new highs after overcoming the $2.15 resistance level in the near term.

XRP eyes $2.33 amid strong fundamentals

XRP is performing excellently thanks to strong fundamentals and technicals. The rally to $2.19 a few hours ago came with a $217 million volume, nearly 3x the average, establishing $2.06 as strong resistance.

The XRP/USD 4-hour chart is turning bullish thanks to this ongoing rally. The blue and red MACD lines are crossing into the positive zone, indicating that buyers are currently in control of the market.

A relative strength index (RSI) of 62 also shows strong buying pressure. The strong technicals could see XRP push towards the next resistance level at $2.33 over the next few hours.

If the bullish trend continues, XRP could be heading towards the 4-hour internal liquidity at $3.0064. An extended rally would enable it to touch the $3.2 level for the first time since January 2025. However, much of the rally would depend on the ongoing events in the Middle East. 

If the ceasefire agreement between the two nations holds, then XRP and other major cryptocurrencies could rally higher. However, if the events reverse, XRP could face further corrections and could drop below the $2 mark once again.

The post XRP price prediction: What next for XRP after breaking above the $2.15 resistance? appeared first on CoinJournal.

Key takeaways

• Binance’s BNB is up 2.5% in the last 24 hours but could rally higher amid a strong market recovery.
• Former executives from Coral Capital Holdings are planning to launch a BNB treasury firm, and this could see BNB’s price surge.

Build & Build Corporation to raise $100M to launch a BNB treasury

Former executives from Coral Capital Holdings have launched a firm called Build & Build Corporation and intend to invest in a BNB treasury. This is according to a recent report by Bloomberg.

According to the report, the firm is looking to raise $100 million to fund this plan. Build & Build Corporation will be led by former Coral Capital execs, including Patrick Horsman, Joshua Kruger, and Johnathan Pasch. The company also intends to go public through a reverse buyback of an unidentified Nasdaq-listed company.

The move could see BNB’s price soar in the medium to long term. Companies such as Strategy, Metaplanent, and GameStop have billions of dollars worth of Bitcoin treasury. A similar approach by Build & Build Corporation could see BNB’s price hit a new all-time high.

BNB eyes $700 amid improved fundamentals

BNB, the native coin of the Binance ecosystem, has performed positively over the last 24 hours following a bearish weekend. At press time, BNB is trading at $638, up 2.5% in the last 24 hours.

The positive performance comes amid the ceasefire between Israel and Iran. If the bullish momentum persists, BNB could surge to the $700 level soon. The technicals have also improved to reflect the current price action.

The BNB/USD 4-hour chart shows that the bulls are regaining control of the market. The RSI of 55 shows that BNB is moving into the positive zone after spending days in the negative territory.

The blue and red MACD lines are crossing into the positive region, indicating a strong bullish momentum for BNB. If the bullish trend persists, BNB will test the first major resistance level at $676 soon. In case of an extended rally, BNB could hit the $700 mark for the first time since February.

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