Schlagwort: crypto analysis

Key takeaways

• Cardano’s ADA is the worst performer among the top 10, losing 8% of its value in the last 24 hours.
• The coin could recover above $1 soon after retesting the $0.84 low.

ADA retests $0.84 amid bearish PA

The cryptocurrency market has been bearish since the start of the week, and Cardano’s ADA has been the worst performer among the top 10 coins by market cap. ADA is down 8% in the last 24 hours and briefly dropped to the $0.8400 level.

The bearish performance saw ADA retest the TLQ at $0.8400 and could be getting ready for another leg-up after surpassing the $1 psychological mark last week. Its performance coincides with a massive sell-off in the broader crypto market, with Bitcoin briefly dropping below $113k earlier today.

Ether also dropped below $4,200 while XRP and Solana have failed to keep their prices above $3 and $200, respectively.

ADA to hit $1 if the $0.8400 support holds

The ADA/USD 4-hour chart is bullish and efficient despite Cardano losing 8% of its value in the last 24 hours. The technical indicators are switching bearish, suggesting that sellers are currently in control.

The RSI of 44 shows that ADA could be heading into the oversold territory if the bulls don’t regain control. The MACD lines have also crossed over into a bearish region. 

At press time, ADA is trading at $0.8491 as the $0.8400 support level holds. If the support level continues to hold, ADA could surge past the first major resistance level at $0.9570 before surpassing last week’s high of $1.0198.

However, failure to hold the $0.8400 support level could see ADA take out the TLQ and drop to the next major support zone at $0.7685. An extended bearish performance would see ADA retest August’s low of $0.6820.

The post ADA could bounce back after retesting the $0.84 low; Check forecast appeared first on CoinJournal.

Key takeaways

• ETH is down 1.6% in the last 24 hours and has dropped below $4,200.
• The bears are aiming for $4k as the broader crypto market experiences a sell-off.

ETH fails to defend its price above $4,200

Ether, the second-largest cryptocurrency by market cap, failed to hit a new all-time high last week and has since lost 10% of its value. It is currently down by 1.6% in the last 24 hours and now trades at $4,170 per coin.

The bearish performance comes as the broader cryptocurrency market experiences a sell-off. Bitcoin is down 8% since its all-time high milestone last week and temporarily dropped below $113k. XRP has dropped below $3 while Solana has failed to stay above $200.

Analysts believe that profit-taking is one of the primary reasons behind the bearish price action. In an email to Coinjournal, Ruslan Lienkha, chief of markets, YouHodler, stated that,

Profit-taking is indeed occurring at the moment, and in many cases, it reflects disciplined risk management. This is particularly true in the current environment, where institutional discussions increasingly emphasize that we may be entering the later stages of the bull market. A growing number of fund managers point out that U.S. equities appear overvalued, suggesting that the medium-term bullish trend could be approaching its end.

The analyst added that while long-term investors are generally less affected by these short-term dynamics, those operating within medium-term horizons, such as two- to three-year cycles, often adopt relative strategies that encourage them to secure gains when markets look stretched. In this context, realized profits may signal not so much a lack of confidence in further upside, but rather prudent portfolio management in anticipation of potential volatility.

ETH could drop to $4k as bears remain in control

The ETH/USD 4-hour chart has switched bearish despite the Ethereum price reaching a new yearly high of $4,788 on Thursday. The coin failed to continue its upward trend and declined nearly 14% since then. 

At press time on Wednesday, it trades at around $4,170. The technical indicators are bearish, with the RSI (35) and the MACD lines showing a strong sell-off in the market. 

If the daily resistance at $4,232 holds as resistance, ETH could dip towards its next key support at $3,946. An extended bearish run would see Ether retest the $3,300 low for the second time this month.

However, if ETH recovers and closes above the daily resistance at $4,232, the bulls could push its price higher and target the $4,488 level. It would need the support of the broader crypto market to hit the $4,788 yearly high.

The post Ethereum price prediction: ETH could dip to $4k amid bearish PA appeared first on CoinJournal.

Key takeaways

• Binance’s BNB is trading at $845 after adding 1.5% to its value.
• The coin could surge to a new all-time high as the broader crypto market shows signs of a recovery.

BNB tops $845

The cryptocurrency market has had a bearish start to the week, with Bitcoin hitting the $115k level while Ether dropped below $8,200. However, the market is showing signs of recovery, and most altcoins are now in the green.

One of the strongest coins in recent weeks is BNB, Binance’s native coin. BNB hit a new all-time high of $868 five days ago and has generally been bullish since the start of the year. The recent surge saw its all-time high cross the $120 billion mark for the first time in its history.

After dropping to a low of $818 earlier on Monday, BNB has now bounced back above $840 and could rally to a new all-time high in the coming hours or days. BNB’s rally showcases Binance’s status as the largest cryptocurrency in the world in terms of daily trading volume.

BNB targets $900 amid bullish resurgence

The BNB/USD 4-hour chart remains bullish and efficient despite the market’s recent correction. The technical indicators remain bullish, unlike those of other leading cryptocurrencies like BTC and XRP.

The RSI of 54 shows that BNB hasn’t entered into the bearish territory, and the bulls could easily regain control of the market. The MACD lines are also within the bullish zone, suggesting that buyers are currently in control.

If the market recovery continues, BNB could surpass its all-time high price of $868 over the next few hours. An extended rally would allow BNB to touch the $900 mark for the first time in its history. BNB’s medium-term target remains $1,000 as analysts remain extremely bullish on the coin.

However, if the bulls fail to take control, BNB could retest Monday’s low of $818 and drop lower to the TLQ at $793. 

The post Is BNB heading to a new ATH as market recovery begins? Check forecast appeared first on CoinJournal.

Key takeaways

• XRP is up nearly 2% in the last 24 hours and has climbed above $3.
• The positive performance comes despite the SEC’s ETF delay.

SEC delays spot XRP ETF applications

XRP, the native coin of the Ripple network, is up nearly 2% in the last 24 hours as it bounces back from its recent low. The positive performance comes despite the United States Securities and Exchange Commission (SEC) delaying its decision on Canary Capital, CoinShares, Bitwise, Grayscale, and 21Shares’ spot XRP ETF applications.

The regulatory agency stated that it had extended its decision on the 21Shares Core XRP Trust from the set deadline of August 20, adding 60 days, setting the new deadline for October 19.

The SEC also delayed decisions on the 21Shares Trust, Grayscale, CoinShares, and Bitwise XRP ETF filings. The delay will provide the SEC enough time to seek public opinion on the proposal and assess any regulatory concerns associated with the Exchange Act.

Analysts expect the SEC to issue final decisions on all eight pending spot ETF applications, including Franklin Templeton, REX-Osprey, WisdomTree, and five others, by October 18.

XRP aims for $3.3 as the market slowly recovers

The XRP/USD 4-hour chart remains bullish and efficient despite XRP’s recent poor performance. The long-term trend remains bullish as XRP looks to set a new all-time high in the near to medium term. 

After holding around the $2.9 support, XRP could rally higher in the short term. The technical indicators are still bearish but point to signs of growing momentum. The MACD lines are within the bearish region, but could soon crossover into the positive zone. The RSI of 43 shows that XRP is not in the oversold region, and bulls could regain control with ease.

If the recovery improves, XRP could surge past the first major resistance level at $3.39 in the next few hours or days. Support from the broader market would allow it to surpass its recent high of $3.66.

However, if the bearish trend grows stronger, XRP could retest the $2.72 support level over the next few days. The low of $2.08 created last month remains strong and could stand in the short to medium term.

The post XRP climbs above $3 after ETF delay; Check forecast appeared first on CoinJournal.

• XRP could potentially rise from around $3 to $28, representing a 777% increase.
• Financial institutions are increasingly adopting XRP for cross-border payments.
• The projected surge depends on favorable market conditions and continued adoption.
  

XRP is once again at the centre of market discussions after crypto strategist @egragcrypto shared a prediction suggesting the token could rally by as much as 777%, potentially reaching $28.

The digital asset, currently trading at around $3.01, has attracted renewed attention from both investors and analysts across global markets.

This projection comes against a backdrop of historical price cycles, ongoing legal clarity from Ripple’s battle with the US Securities and Exchange Commission (SEC), and increasing institutional adoption of blockchain-based settlement solutions.

The combination of technical chart patterns and real-world developments is driving speculation on whether XRP can repeat its past performance and set new all-time highs.

XRP cycles show patterns behind $28 forecast

According to the analysis, XRP’s price history reveals three distinct cycles. The first, during the 2017–2018 boom, saw the token move from just a few cents to over $3.00 before the wider crypto market collapsed.

The second occurred between 2020 and 2021, when XRP staged a strong rebound despite Ripple being caught in an SEC lawsuit.

Egrag’s cycle analysis now points to a potential third phase. XRP has been consolidating near multi-year highs, with the 777% target at $28.16 projected if the historical pattern plays out once again.

The forecast has spread widely across social media, with the tweet by @egragcrypto fuelling further debate among market watchers and crypto traders worldwide.

Ripple’s legal win and institutional partnerships

Momentum around XRP has also been supported by developments outside of charts. A key turning point came in 2023, when Ripple secured a partial court victory against the SEC.

The ruling determined that XRP was not considered a security when traded on exchanges, removing a major source of regulatory uncertainty. This outcome provided banks and institutions with the confidence to engage with the token, reviving its role as a settlement asset.

Ripple has since expanded its network of financial partnerships across global markets, with institutions exploring XRP’s potential for cross-border payments.

Despite challenges, XRP has consistently maintained its place in the top 10 cryptocurrencies by market capitalisation. At present, the token is up roughly 1.66% today, with trading volumes reflecting solid interest from both retail and institutional investors.

XRP prediction requires favourable conditions

While the 777% projection to $28 has gained attention, analysts note that such a move would require favourable conditions, including wider crypto market growth, regulatory stability, and continued adoption by financial institutions.

The size of the rally means that the prediction remains highly ambitious, but XRP’s resilience has kept it in the spotlight.

Sustained performance in trading volumes, combined with XRP’s ability to maintain relevance despite legal hurdles, has encouraged closer monitoring of the asset.

Whether or not the cycle analysis proves accurate, XRP continues to demonstrate significant staying power in an evolving global cryptocurrency market that is increasingly shaped by institutional participation and long-term investor interest worldwide.

The post XRP price forecast points to a possible 777% surge to $28 appeared first on CoinJournal.