Schlagwort: crypto analysis

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.

Key takeaways

• DOGE rallied by 16% last week to hit the $0.23 mark.
• The leading memecoin could rally to the $0.30 psychological mark if market momentum remains bullish.

DOGE breaks above $0.20, targets new highs

DOGE, the native coin of the Dogecoin ecosystem and the leading memecoin, performed excellently over the last seven days. The coin added 16% to its value during that period, surpassing the $0.20 mark in the process.

At press time, DOGE is trading at $0.2344 and could be set to hit the $0.30 mark for the first time since February 2025. The rally comes as the broader cryptocurrency market recorded excellent gains over the past few days.

Bitcoin, the leading cryptocurrency by market cap, hit the $122k mark earlier today after adding 3% to its value over the weekend. Ether surged past $4,300 for the first time in four years and is now targeting the all-time high price of $4,891.

DOGE targets $0.3 amid bullish momentum

The leading memecoin could continue its rally as bullish momentum engulfs the broader market. The DOGE/USD 4-hour chart is bullish and efficient, suggesting that traders could be gearing up to push the price higher.

The MACD lines have crossed into positive territory while the RSI of 66 shows that buyers are currently in control of the market. If the market momentum persists, the DOGE/USD pair could cross the first major resistance level at $0.2865 over the coming hours or days. An extended bullish run would pave the way for DOGE to surpass the $0.30 mark for the first time since February 2025.

However, the market might show signs of exhaustion, resulting in a bearish trend. If that happens, DOGE could retest the first major support level and its 4H TLQ at $0.2208. Failure to hold this support level could see DOGE drop further towards the Break of Structure (BOS) around $0.2098.

The post Dogecoin price prediction: DOGE to rally to $0.3 if $0.22 support holds appeared first on CoinJournal.

Key takeaways

• LayerZero’s ZRO outperformed the market, adding over 20% to its value in 24 hours.
• The rally comes after LayerZero submitted a proposal to acquire Stargate Finance.

ZRO rallies on Stargate acquisition proposal

ZRO, the native coin of the LayerZero ecosystem, is one of the best performers in the market over the last 24 hours. The coin added 22% to its value during that time, allowing it to hit the $2.5 mark for the first time since May.

The rally was fueled by LayerZero’s proposal to acquire Stargate Finance (SGT). LayerZero Foundation proposed a $110 million acquisition of the Stargate bridge to the Stargate DAO.

With the proposal now in place, STG token holders will soon vote on the proposal. If approved, the STG token would be discontinued, and holders could swap STG for ZRO. SGT also rallied by over 15% since the announcement, as the proposal already has a 70% approval threshold. The proposal stated that,

“This offer is designed to accelerate both Stargate and LayerZero, giving Stargate the resources to ship on an aggressive roadmap that expands its prerogative outside of bridging, while tying an incredible, revenue-generating protocol that touches the end-consumer deeper into the LayerZero ecosystem.”

ZRO targets $2.8 as bullish momentum remains

The recent rally has seen the ZRO/USDT pair become bullish, with technical indicators pointing to potential upward movement. However, the pair is inefficient, suggesting that ZRO could temporarily dip to grab liquidity before rallying higher.

The RSI of 79 shows that ZRO is heading into the overbought region if the rally continues. The MACD lines are within the positive territory, indicating that buyers are currently in control.

If the rally persists, ZRO could target the next resistance level at $2.8 over the next few hours or days. An extended bullish trend could pave the way for ZRO to hit the $3 psychological mark.

However, if the market undergoes a correction or retracement, ZRO could drop to the first liquidity region at $2.0. Failure to defend this liquidity zone would see ZRO retest the TLQ at $1.89.

The post ZRO soars 22% as LayerZero proposes to acquire Stargate Finance appeared first on CoinJournal.

Key takeaways

• LINK is the second-best performer among the top 20 coins, up 13.5% in the last 24 hours.
• The rally comes after Chainlink introduced the Chainlink Reserve.

The cryptocurrency market has turned bullish following days of bearish price action this week. Bitcoin hit the $117k level for the first time this week while Ether is targeting the $4k high once again.

LINK, the native coin of the Chainlink blockchain, is the second-best performer among the top 20 cryptocurrencies by market cap. The coin could rally higher as momentum indicators switch bullish.

Chainlink introduces the Chainlink Reserve

LINK is up 13.5% in the last 24 hours, outperforming other major cryptocurrencies in the top 20 except Stellar’s XLM. At press time, LINK is trading at $19.04 and looks set to hit a new weekly high if market conditions remain bullish.

The primary catalyst behind LINK’s rally is the launch of the Chainlink Reserve. Chainlink announced on Thursday that it has launched the Chainlink Reserve. This is a new upgrade centered on the creation of a strategic onchain reserve of LINK tokens.

According to Chainlink, the Chainlink Reserve is designed to support the long-term growth and sustainability of the Chainlink Network. It will achieve this by accumulating LINK tokens using offchain revenue from large enterprises that are adopting the Chainlink standard and from onchain service usage. The team added that the Chainlink Reserve is being built up by using Payment Abstraction to convert offchain and onchain revenue into LINK.

LINK could soar past the $20.5 resistance level soon

The LINK/USD 4-hour chart is extremely bullish thanks to Chainlink’s ongoing rally. The technical indicators have switched bullish. The efficiency also showed that LINK has swept liquidity to the downside and could be gearing up to soar higher.

The RSI of 76 shows that LINK is close to an overbought situation while the MACD lines are deep within the positive territory. The momentum indicators suggest that LINK is extremely bullish and could rally higher soon.

If the trend continues, LINK could soar past the July high of $20.3 over the next few hours. Surpassing the $20.3 resistance level could pave the way for LINK to retest the $27.266 high achieved in January. 

However, if the broader market undergoes a correction, LINK could retest the resistance-turned-support region at $17.2. An extended bearish run would see LINK drop to the TLQ level at $16.103.

The post LINK eyes $20.5 as momentum indicators switch bullish; Check forecast appeared first on CoinJournal.