Schlagwort: crypto analysis

Key takeaways

• Chainlink (LINK) is one of the best performers in the top 20, up 12% in the last 24 hours.
• The coin is rallying on the back of recent partnerships.

Chainlink overtakes Hyperliquid on the market cap list

LINK, the native coin of the Chainlink blockchain, is one of the best performers among the top 20 cryptocurrencies by market cap. The coin is up 12% in the last 24 hours and is now trading above $23.

This positive performance means that Chainlink’s market cap now stands at $16 billion, surpassing Hyperliqudi’s $14 billion. This means that LINK has become the 11th-largest cryptocurrency by market cap.

The rally comes after Chainlink launched the Chainlink Reserve last week. The Reserve aims to convert revenue from Chainlink’s services and enterprise integrations into LINK tokens, establishing persistent buying momentum.

In addition to that, Chainlink announced its partnership with Intercontinental Exchange, the parent company of the New York Stock Exchange, earlier this week. This will see the two entities work together to bring foreign exchange and precious metals pricing data on-chain. The partnership showcases Chainlink’s expanding role as a bridge between traditional finance and blockchain rails.

LINK eyes $30 as bullish momentum grows

The LINK/USD 4-hour chart is one of the most bullish, thanks to the coin’s ongoing rally. The technical indicators are also bullish, with the RSI of 63 underscoring the immense buying pressure. The MACD lines also crossed over into positive territory since last month, suggesting a bullish bias.

At press time, LINK is trading at $24. If the positive momentum continues, LINK could break above the first major resistance level at $26.9 over the next few hours. An extended rally would allow LINK to test the $30 mark for the first time since December 2024. 

However, if the market undergoes a correction, LINK could retest the TLQ and support level at $21.075. The bulls would defend this level, as failure to do so could see LINK drop to the monthly low of $15.5.

The post LINK rallies 12% to overtake Hyperliquid, eyes $30; Check forecast appeared first on CoinJournal.

Key takeaways

• DOGE is up 11% in the last 24 hours and is now eyeing the $0.30 resistance level.
• Whales have been accumulating Dogecoin in recent weeks. 

Dogecoin rallies as the broader crypto market recovers

DOGE, the native coin of the Dogecoin blockchain, is one of the best performers in the top 10. The coin added 11% to its value in the last 24 hours and is now trading above $0.24.

The positive performance comes as the broader crypto market recovers from Monday’s slump. Bitcoin is trading at $120k once again, while Ether could set a new all-time high soon after surpassing $4,600.

In addition to that, whale accumulation has been the major driver behind DOGE’s price in recent weeks. Over 1B DOGE (valued at ~$200M) were acquired in recent sessions. Large-holder ownership now approaches half the circulating supply, signalling institutional confidence despite intraday volatility.

DOGE eyes the $0.3 mark as bullish momentum returns

The DOGE/USD 4-hour chart remains bullish thanks to the coin’s ongoing rally. DOGE has established a strong support at $0.220 (volume-backed morning defense) after overcoming the $0.238 resistance earlier today. 

Traders are now watching out for a possible breakout continuation, with stability of $0.232-$0.220 support band on further profit-taking. Persistence of whale accumulation flows in the coming sessions could signal further bullish momentum, while the impact of broader market volatility on meme coin positioning cannot be ignored. 

The RSI of 67 shows that buyers are in charge, with the MACD lines also within the bullish territory. If the bullish trend continues, DOGE could surge past the $0.28 resistance and hit the $0.30 mark for the first time since February.

However, the market could still undergo a correction that could see DOGE retest the $0.22 support level. Failure to defend this level could see DOGE drop below the $0.20 mark for the second time this month.

The post Dogecoin price prediction: DOGE eyes $0.30 on whale accumulation appeared first on CoinJournal.

• Ripple CTO posts Monty Python GIF after settlement.
• XRP case centred on security classification.
• Traders adopt the “buy the rumour, sell the news” approach.

Ripple’s legal battle with the US Securities and Exchange Commission (SEC) concluded last week, ending years of uncertainty over whether XRP should be classified as a security.

The outcome was expected to boost investor confidence, but XRP has instead fallen 4% today, underperforming most other major altcoins.

The unexpected drop has prompted questions about market behaviour and the impact of regulatory developments on token prices.

While the SEC now signals a shift towards developing clearer cryptocurrency rules, market reaction suggests traders may be waiting to see how these proposals translate into policy before making long-term commitments.

Ripple CTO uses Monty Python clip to mark SEC case end

Following the settlement, Ripple’s chief technology officer, David Schwartz, marked the moment with a Monty Python reference on X.

Posting a GIF from the “Salad Days” sketch, Schwartz chose a scene where a character cheerfully declares, “What a simply super day” before chaos unfolds.

The post came just days after the SEC wrapped up the prolonged case against Ripple, a lawsuit that had shaped much of the discussion around crypto regulation in the United States.

The dispute focused on whether XRP constituted a security under federal law.

Its resolution was widely expected to remove a significant source of uncertainty for Ripple and its investors.

SEC officials signal policy shift after Ripple settlement

With the case closed, SEC Chair Paul Atkins and Commissioner Hester Peirce stated they intend to work towards “clear rules of the road” for digital assets.

Ripple’s chief legal officer, Stuart Alderoty, acknowledged the development on X, expressing support for a move towards regulatory clarity.

This represents a notable change in the SEC’s tone, moving from enforcement-driven actions to signalling interest in proactive regulation.

Industry participants have long called for consistent guidelines, arguing that ambiguity in the current framework hinders innovation and deters institutional investment.

Price reaction reflects profit-taking and caution

Despite expectations of a sustained rally, XRP’s price trajectory has moved in the opposite direction.

The token surged in the immediate aftermath of the legal outcome, but gains were short-lived.

Traders appear to have adopted a “buy the rumour, sell the news” approach, a common pattern in cryptocurrency markets where prices rise in anticipation of a positive event and then fall as investors lock in profits.

The current decline also suggests some market participants may be cautious, preferring to assess the SEC’s forthcoming regulatory proposals before re-entering or increasing exposure to XRP.

Questions raised on X by traders highlight the puzzlement over the drop, given the removal of legal uncertainty that had weighed on the asset for years.

The combination of profit-taking, short-term sentiment, and anticipation of regulatory details appears to be driving the subdued market response.

Until further policy clarity emerges, XRP’s price may remain influenced by both macro-level regulation news and speculative trading behaviour.

The post Why XRP price has failed to breakout despite SEC settlement appeared first on CoinJournal.

Key takeaways

• ETH maintains its price above $4,300 and could rally higher soon.
• The cryptocurrency is gaining rapid institutional adoption.

ETH stays above $4,200 as BTC, XRP falter

The cryptocurrency market began the new week bearish, with Bitcoin, XRP, and other major cryptocurrencies currently in the red. BTC has dropped below $119k while XRP is defending the $3 support level.

However, ETH, the native coin of the Ethereum blockchain, hasn’t given up its recent gains. Ether is up by less than 1% in the last 24 hours and currently trades around $4,303 per coin.

The positive performance comes amid strong institutional adoption. Ether’s surge over the past few weeks is a result of spot ETH ETF demand. In an email to Coinjournal, XBTO’s Chief Investment Officer, Javier Rodriguez-Alarcón, stated that,

“Strong ETF inflows added fuel, with bitcoin products seeing $247 million in net inflows and ethereum products drawing $327 million over the week, helping push ETH to its highest level since December 2021. Corporate treasury demand also played a role as companies continue to add crypto to their balance sheets as a treasury reserve and a staking income source. SharpLink Gaming disclosed the purchase of 52,809 ETH in the past week, worth over $220 million, while BitMine Immersion reported holdings of more than $2.9 billion in ETH, making it the world’s third-largest treasury.”

ETH eyes $5k ahead of inflation data release

The CPI and PPI data this week could be crucial in how the cryptocurrency market performs over the next few days. This brings two key U.S. inflation developments: the Consumer Price Index (CPI) on Tuesday, which measures household price changes, and the Producer Price Index (PPI) on Thursday, which tracks wholesale price changes for businesses. These reports are key in shaping expectations for Federal Reserve policy.

The ETH/USD 4-hour chart is bullish and efficient, suggesting that Ether could be getting ready for another leg up. The RSI of 67 and strong MACD lines show that Ether is currently bullish.

If the rally continues, Ether could extend its positive performance to take out its all-time high price of $4,891, allowing it to hit the $5k mark for the first time in its history. Analysts still expect ETH to hit the $6k level over the coming months.

However, if Ether faces selling pressure like other cryptocurrencies, it could drop lower to the TLQ level at $4.150. Failure to defend this TLQ could see ETH retest the resistance-turned-support region at $3,874.

The post Ether eyes $5k as price holds above $4,200; Check forecast appeared first on CoinJournal.

Key takeaways

• SUI is down 5% in the last 24 hours, dropping below the $4 mark.
• The broader market is facing heavy selling pressure, with BTC now below $119k.

Altcoins suffer huge losses

The cryptocurrency market is having a bearish start to the week, with major coins and tokens currently in the green. Bitcoin, the leading crypto by market cap, is down by over 2% and has dropped below the $119k level after hitting $122k over the weekend.

Ether has maintained its price above $4.200 as it remains the strongest altcoin, while XRP is trading around $3.15, down 3.6% in the last 24 hours. 

SUI, the native coin of the Sui blockchain, has lost 5% of its value, a similar average to other leading altcoins. It has now dropped below $4 and currently trades at $3.6846 per coin. The bearish performance comes amid heavy selling pressure in the market.

Data obtained from CoinMarketCap shows that SUI’s open interest (OI) has dropped 15% to $1.79 billion. Furthermore. Funding rates, which affected the cost of holding leveraged long positions, declined to 0.0083%, down sharply from their July peak of 0.075%. 

These data show that traders are not eager to maintain bullish leveraged bets, suggesting a cooling in market sentiment.

The bearish performance also comes after Swiss digital asset bank Sygnum announced on Friday that it expanded its offerings to include custody, trading, and lending products tied to the Sui blockchain.

SUI could retest the $3.2 low if selling pressure persists

The SUI/USD 4-hour chart is bearish and efficient as the coin is currently underperforming. The efficiency suggests that SUI has grabbed liquidity to the upside and could drop further.

The RSI of 43 shows that SUI could enter the oversold region if the negative sentiment thickens. The MACD lines are also looking to crossover into the negative territory amid selling pressure.

If the market conditions persist, SUI could drop to the $3.2 support level over the coming hours. The support could hold and allow SUI to bounce back in the near to medium term. However, failure to hold will see SUI test the July low of $2.65.

If the market conditions improve, SUI could reclaim the $4.0 weekend high before rallying towards $4.43. 

The post SUI price prediction: SUI dips 5% amid heavy selling pressure appeared first on CoinJournal.