Schlagwort: crypto market

Ke takeaways

• Solana is the worst performer in the top 10, down 6% in the last 24 hours.
• The coin could retest the $174 support level as BTC and others underperform.

SOL dips 6% as the broader market sheds nearly $200b

The weekend was bearish for Bitcoin, and other leading cryptocurrencies recorded huge losses. Bitcoin dropped to the $115k region after setting a new all-time high price last week, while Ether is now trading around $4,285 after hitting $4,700 a few days ago.

The worst performer among the top 10 cryptocurrencies by market cap is SOL, Solana’s native coin. SOL is down 6% in the last 24 hours and risks dropping below $180 soon if the bearish trend continues. 

Despite the bearish performance, SOL has maintained its position as the sixth-largest cryptocurrency by market cap, behind Binance’s BNB. However, if the negative trend continues, SOL could lose more value and see its market cap drop below $90 billion.

The total cryptocurrency market cap dropped by nearly $200 billion over the weekend as SOL, ETH, XRP, and BTC all recorded heavy losses.

SOL eyes $174 support zone amid massive sell-off

The SOL/USD 4-hour chart remains bullish and efficient despite Solana recording losses over the last few hours. The technical indicators are switching bearish on the lower timeframe, indicating that sellers are now in control of the market.

The RSI of 37 shows that SOL is heading into the oversold territory if the bearish trend continues. The MACD lines have also crossed over into the negative region, suggesting a bearish trend.

If the sell-off continues, SOL could retest the first major support level and the TLQ at $174 in the coming hours or days. An extended bearish run would see SOL test the $155 low for the second time time month.

However, the market could embark on a recovery, and SOL could reclaim the recent high of $209. An extended bullish run would see SOL surge higher and hit $250 for the first time since February.

The post SOL could retest $174 amid bearish price action; Check forecast appeared first on CoinJournal.

Key takeaways

• LINK is the best performer among the top 20 cryptocurrencies by market cap, up nearly 2%.
• Chainlink’s native coin is now trading above $25 per coin.

LINK up nearly 2% as the broader market underperforms

The crypto market was extremely bearish over the weekend, with nearly $200 billion wiped out from the market during that period. Bitcoin has dropped to the $115k zone while Ether is trading above $4,200 after failing to make a new all-time high last week.

However, LINK, the native coin of the Chainlink blockchain, is the only cryptocurrency in the top 20 to perform positively. LINK is up by more than 1% over the last 24 hours and is now trading above $25.

Its rally comes following recent developments like the launch of the Chainlink Reserve and its partnership with ICE, the company behind the New York Stock Exchange. Analysts believe that LINK is currently undervalued and its price could soar higher in the near term. LINK is currently the 11th-largest cryptocurrency by market cap after surpassing Hypiliquid’s $HYPE earlier this month.

LINK targets $30 as bullish momentum continues

The LINK/USD 4-hour chart is bullish thanks to the coin’s ongoing rally. However, it is inefficient, suggesting that LINK could sweep liquidity to the downside before continuing its rally.

The MACD lines are deep within the positive region, indicating a bullish momentum. The RSI of 59 also shows that LINK is still far away from the overbought region, indicating further room for growth.

If the rally is sustained, LINK could surge past the first major resistance level at $30 over the next few days. An extended bullish run would allow LINK to trade around $35 for the first time in four years. However, $30 could serve as a profit-taking region for long-term holders. 

On the flip side, if LINK faces a correction like the broader market, it could drop to the TLQ and support level at $21 over the next few hours.

The post Chainlink price prediction: LINK outperforms other coins in top 20 appeared first on CoinJournal.

Key takeaways

• The cryptocurrency market reversed its recent gains, with bullish traders losing over $800 million in the last 24 hours.
• DOGE dropped by 6% after failing to hit $0.26.

DOGE dips lower on poor PPI data

The cryptocurrency market reversed its recent gains on the back of poor PPI data from the United States. Bitcoin hit a new all-time high of $124k on Thursday but quickly reversed its gains and dropped below $119k.

Ether was trading above $2,700 during the early hours of Thursday, but has lost 2% of its value since failing to surge past its current all-time high price. Meanwhile, DOGE, the native coin of the Dogecoin blockchain, was the worst performer among the top 10 cryptocurrencies by market cap, down 6% in the last 24 hours.

The bearish performance saw DOGE test the $0.21 support zone a few hours ago. It has slightly bounced back and is now trading above $0.23 per coin.

The market slump was caused by the recent Producer Price Index (PPI) data published by the U.S. Bureau of Labor Statistics on Thursday. The PPI for final demand rose 3.3% on a yearly basis in July, higher than the 2.5% analysts expected and June’s 2.4%. 

Furthermore,  the annual core PPI rose 3.7% in July, up from 2.6% in June. These data raised fresh concerns around inflation in the United States and whether the Federal Reserve will cut interest rates in its upcoming FOMC meeting.

DOGE targets the $0.25 TLQ

The DOGE/USD 4-hour chart is bearish thanks to Dogecoin’s recent performance. The technical indicators show signs of fading bullish momentum, but could recover if the bulls regain control of the market.

The MACD lines are still within the positive territory, suggesting that the bears don’t have full control yet. The MACD of 54 also shows that the DOGE/USD pair has not fully flipped bearish.

If the bulls regain control, DOGE could reclaim the nearest resistance and TLQ zone at $0.256 in the coming hours or days. An extended bullish run would allow it to surge past July’s high of $0.28. However, for that to happen, DOGE’s RSI needs to stay above the neutral 50.

On the flipside, if the bearish momentum grows stronger, DOGE could drop lower and retest last week’s low of $0.1874. The bulls would defend this level fiercely, as failure to do so could see DOGE drop below $0.15 for the first time since June.

The post DOGE dips 6% as crypto bulls suffer huge losses; Check forecast appeared first on CoinJournal.

Key takeaways

• Bitcoin hit a new all-time high of $124,457 a few hours ago as the broader crypto market rallied higher.
• BTC could be looking to continue its upward momentum and target the $130k mark next.

BTC hits a new all-time high

The cryptocurrency market has continued its positive trend after Monday’s slump. Bitcoin recovered from trading below $119k on Monday to set a new all-time high a few hours ago. 

The world’s leading cryptocurrency by market cap added over 3% to its value in the last 24 hours to hit a new all-time high price of $124,457. Bitcoin has slightly retraced and is now trading at $121,802.

The positive performance comes amid renewed optimism of a September rate cut by the United States Federal Reserve. The recent CPI data showed slowing inflation in the country, and this could prompt the Fed to cut the interest rate in its next FOMC meeting.

Today’s milestone marks the fourth time that Bitcoin has established a record high in 2025. Analysts at Standard Chartered estimate Bitcoin could reach $200,000 by year’s end if the current bullish momentum continues.

BTC Markets Crypto Analyst Rachael Lucas pointed out that Bitcoin’s price is benefiting from a “perfect storm” of institutional demand from spot exchange-traded funds and corporate treasuries. Lucas told The Block that,

Over the past month, BTC ETFs have added more than $3.6 billion, while corporate and sovereign treasuries now control 3.64 million BTC. [That’s] over 17% of the total supply. Combine that with strategic, long-term holdings, and you have structural demand meeting finite supply.

BTC could rally to $130k as demand builds

The BTC/USD 4-hour chart is bullish and efficient thanks to Bitcoin’s ongoing rally. The technical indicators have also flashed bullish despite the slump earlier this week. 

With an RSI of 61, Bitcoin is showing a bullish momentum. The MACD lines deep within the positive territory also indicate that buyers are currently in control of the Bitcoin market.

If the rally continues, BTC could surge past the recent high of $124k and surpass the $125k level in the near term. An extended rally could allow it to target the $130k region for the first time in its history.

However, Bitcoin could face a correction after hitting a new all-time high. If that happens, BTC could retest its nearest support and TLQ level at $118,422. Failure to defend this support level could see BTC dip lower to the monthly low at $111k.

The post What’s next for Bitcoin after hitting a new ATH at $124k? Check forecast appeared first on CoinJournal.

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.

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