Schlagwort: crypto business

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ADA price prediction: ADA could retest the $0.5111 low amid a bearish price action

Key takeaways

  • Cardano’s ADA is the worst performer among the top 10 cryptocurrencies this week, down 5%.
  • ADA could retest the $0.5111 low if the bearish trend continues.

ADA underperforms despite market recovery

ADA, the native coin of the Cardano blockchain, is the worst performer among the top 10 cryptocurrencies by market cap so far this week. The coin has lost nearly 6% of its value in the last seven days and looks set to dip further over the next few hours or days.

At press time, the price of ADA stands at $0.5662, down 2% in the last 24 hours. The bearish performance comes despite Bitcoin, Ether, and other major cryptocurrencies staging a recovery following last weekend’s dump. 

The broader crypto market added nearly $200 billion to its market cap since Monday, with Bitcoin hitting the $108k level. However, ADA is yet to embark on a significant recovery, with the price action still bearish.

ADA to retest the $0.5111 low with bears still in control

The ADA/USD 4-hour chart is bearish and efficient, indicating a strong bearish bias on higher and lower timeframes. The technical indicators are also negative, showing that sellers are currently in control.

The MACD line has dropped into the negative territory while the RSI of 44 shows selling pressure. Both indicators are signs that ADA is currently bearish and could face further downward movements in the near term.

ADA/USD 4-hour chart

With the sellers navigating the ADA/USD pair, ADA could test the $0.5111 low soon. In the event of an extended bearish run, ADA will likely drop to the $0.4590 support level for the first time since November 2024. 

However, the broader market is bullish, and this could rub off on ADA. If that happens, ADA could retest the previous week’s high of $0.6580. It would take a massive rally for ADA to surge towards the monthly high price of $0.7500.

The post ADA price prediction: ADA could retest the $0.5111 low amid a bearish price action appeared first on CoinJournal.

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ETH price forecast: Ether targets $3k as retail investors increase exposure

Key takeaways

  • Ether is trading at $2,500 and could rally to the $3k level soon.
  • The positive performance comes amid increased retail investment in cryptocurrencies.

ETH recovers the $2,500 level, could surge higher soon

Ether (ETH), the native coin of the Ethereum blockchain, has hit the $2,500 mark and could rally higher. This latest development comes following a bearish weekend that saw ETH’s price dip to the $2,100 region.

At press time, the price of ETH stands at $2,501 and could rally higher if the market conditions remain bullish. The positive performance comes as more retail investors increase their exposure to cryptocurrencies.

According to recent data by eToro, U.S. retail investors are increasing crypto exposure amid a weakening dollar and rising global uncertainty. eToro revealed that 58% of U.S. retail investors are rebalancing their portfolios to favor digital assets.

ETH could surge to the $3k resistance level soon

The ETH/USD 4-hour chart is extremely bullish and efficient, indicating that Ether’s price could surge higher in the near term. Ether has taken out the inducement liquidity (ILQ) at $2,378 yesterday and could rally towards the next resistance level.

ETH/USD 4-hour chart

If the bullish momentum persists, ETH could take out the monthly high price of $2,877 and rally to $3k, its highest level since February. In the event of an extended rally, ETH could seek out the fair value gap (FVG) around $3,200.

The relative strength index (RSI) of 62 shows that buyers are in control. If the RSI goes higher, then the ETH/USD pair will enter the overbought territory. The MACD lines are also in the positive region, indicating a bullish bias.

While the market remains bullish, the bears could still regain control. If that happens, ETH could retest the $2,100 lows.

The post ETH price forecast: Ether targets $3k as retail investors increase exposure appeared first on CoinJournal.

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Ethena price forecast as BaFin orders 42-day USDe redemption

  • BaFin has ordered a 42-day USDe redemption, ending Ethena GmbH operations.
  • ENA price is struggling to hold the support near $0.26 amid consolidation.
  • A break above $0.2700 could trigger short-term upside targets, while a break below could trigger a further decline.

The price of Ethena (ENA) is under pressure as traders digest a major regulatory move by BaFin, Germany’s financial regulator, which has ordered the shutdown of Ethena GmbH and introduced a 42-day redemption window for USDe stablecoin holders in the European Union.

The announcement has added a fresh layer of uncertainty around Ethena’s operations in the region, while simultaneously raising critical questions about the future of its stablecoin and its broader compliance strategy.

In line with the regulatory headwinds, ENA is holding a key support level, sparking cautious optimism among some market participants who are watching for the next move.

BaFin ends Ethena GmbH probe with redemption deal

On June 25, BaFin and Ethena GmbH reached a formal agreement to close their months-long regulatory standoff through a supervised redemption process for USDe holders within the EU and EEA.

This decision follows a crackdown that began in March, when BaFin blocked Ethena GmbH from distributing its USDe stablecoin and froze its reserve assets due to violations of the Markets in Crypto-Assets Regulation (MiCA).

Then, on April 15, Ethena announced it was winding down its operations in Germany.

BaFin argued that sUSDe, a yield-bearing version of USDe, qualified as an unregistered security under EU law, triggering the enforcement actions that eventually forced Ethena Labs to retreat from Germany.

Under the agreed terms, USDe holders in the EU have until August 6 to submit redemption claims directly with Ethena GmbH.

After the deadline, any unresolved claims will have to be filed with Ethena’s offshore entity in the British Virgin Islands, effectively ending the company’s regulated operations within the EU framework.

Ethena Labs stated that once the redemption process concludes, it will have no outstanding issues related to its German entity, though it did not clarify whether it plans to return to the EU market in the future.

ENA token struggles but shows resilience

Amid this regulatory backdrop, ENA’s price is showing signs of consolidation, with buyers defending a critical support zone near $0.26.

Although the token has lost over 30% in the past month and more than 55% over the last year, price action indicates that a potential reversal could be forming, provided bullish momentum builds above the $0.2700 level.

Currently, ENA is trading at $0.2613 after a modest intraday decline of 3.2%.

It remains within a narrow range between $0.2602 and $0.2757 over the past 24 hours.

Analysts note that if ENA can reclaim the $0.2700 resistance level with strong volume, a short-term breakout toward $0.2735 and possibly $0.2768 could follow.

However, if the token closes below $0.26, the setup would be invalidated, increasing downside risks and possibly inviting further selling pressure.

The post Ethena price forecast as BaFin orders 42-day USDe redemption appeared first on CoinJournal.

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SEI price forecast: Will SEI hit $0.4 after its 80% rally in seven days?

Key takeaways

  • SEI is up nearly 80% in the last seven days after the Sei blockchain was chosen by the Wyoming Stable Token Commission.
  • The coin could rally to the $0.40 level soon if the bullish momentum persists.

SEI surges above $0.30

SEI, the native coin of the Sei blockchain, was one of the best performers last week, adding nearly 80% to its value during that period. The positive performance comes amid a market-wide sell-off sparked by the conflict between Iran and Israel.

The coin rallied after Sei was announced as one of the two blockchains selected in the last round by the Wyoming Stable Token Commission to become home to WYST, the first fiat-backed stablecoin issued by a U.S. state.

SEI rallied to $0.34, its highest level since January 2025. It has slightly declined to the $0.30 level but could surge towards the $0.40 level if the bullish momentum continues.

SEI could surge towards $0.40 soon

The SEI/USD 4-hour chart is bullish and efficient, indicating that buyers are currently in control and could push SEI’s price higher in the near term. At press time, the price of SEI stands at $0.3045, establishing a strong support level at $0.2900.

The Relative Strength Index (RSI) of 72 shows that buyers are fully in control of the market. The MACD lines are also in the bullish zone, indicating that the SEI/UISD pair could rally higher.

SEI/USD 4-H chart

If the bearish momentum continues, SEI could test the next resistance levels at $0.4100. In the event of an extended rally, SEI could surge towards $0.48 for the first time since January 2025. 

However, the SEI/USD pair could turn bearish if there is a breakdown in the agreement between Israel and Iran. If that happens, SEI could retest the $0.2900 low or even drop lower to $0.23.

The post SEI price forecast: Will SEI hit $0.4 after its 80% rally in seven days? appeared first on CoinJournal.

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Bitcoin Cash resumes rally after testing $430 support, eyes $550

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. 

BCH/USD 4H chart

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.

The post Bitcoin Cash resumes rally after testing $430 support, eyes $550 appeared first on CoinJournal.