Schlagwort: crypto market

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Altcoins update: Dogecoin and Injective signal recoveries as Ethereum eyes $4,000

  • DOGE tests key support as technical setups suggest imminent breakouts.
  • A closing above $15 might propel INJ prices to $30.
  • ETH targets $4,000 psychological mark amid increasing institutional interest.

Cryptocurrencies flashed bearish tendencies in the past 24 hours.

With most tokens approaching critical price levels, analysts have shifted attention to digital assets ready for significant rallies amid reversals.

This article checks how Ethereum is setting the tone for an altcoin season as Dogecoin and Injective display key short-term price actions.

Dogecoin resilience after double-bottom breakout

The original meme token remained on investor radar after landing key utility on Gemini’s derivatives market.

The bullish news emerges as DOGE tested the vital resistance around $0.2300 after plunging from last week’s high of $0.27.

While losing this foothold could mean massive declines for the token, analyst Jireon observed an optimistic development on the price charts.

The highlighted chart shows Dogecoin had breached a long-standing trendline that limited its upside action.

A double test of the foothold before a significant bounce validated the double-bottom formation, which often precedes bullish reversals.

Notably, the pattern’s neckline at $0.231 had restricted DOGE’s movements during the consolidation period.

Nevertheless, the coin successfully broke above $0.231 on 25 July, with a massive trading volume of over $4 billion confirming the breakout.

Now, Dogecoin retests the support barrier after the latest pullback.

A rebound from this foothold could trigger considerable rallies towards the obstacle at $0.310.

That would mean a 35% increase from DOGE’s current price.

It might extend past $0.33 towards mid-January highs of $0.41.

However, a closing below $0.2300 will invalidate the optimistic outlook and catalyze notable dips.

Injective at a key juncture

INJ breached the resistance at $15 yesterday amid reinvigorated optimism, fueled by ETF filings, tokenization, and EVM integration.

Cboe has filed for the first-ever Injective staking ETF in the United States, indicating renewed institutional appetite.

While it retraced to trade at $14.87, analyst Ali Martinez highlighted $15 as a crucial breakout point.

The price chart shows INJ breaching a climbing triangle from $15.

The next crucial price levels are $18.95, $21.25, and $25, according to FIB extension levels.

Meanwhile, the altcoin requires significant trading volumes to confirm the breakout and push higher.

Failure to hold $15 would delay the projected reversal and lead to consolidations or price dips.

Ethereum sets sights on $4K after latest rebound

ETH has been the hottest digital token in the past few sessions as trends signal a materializing altcoin season.

Institutions are now dumping Bitcoin for ETH as demand for Ether-based exchange-traded funds soars.

The second-largest crypto hovers at $3,810 after touching YTD peaks above $3,940 on Monday.

Meanwhile, Ethereum retested and secured support at $3,500 last week on Thursday before closing above $3,730 on July 27 and extending to yesterday’s yearly high.

Further push would see Ethereum extend toward the $4,000 psychological zone.

Analysts trust that a candlestick closing beyond this resistance could welcome a full-blown altseason.

@ColinTCrypto expects Ethereum to explore $15,000 – $20,000 this bull cycle.

However, enthusiasts should beware of imminent volatility as the markets anticipate multiple announcements.

Tuesday’s US employment statistics, Fed rate decision, and a possible Crypto Report from the White House on Wednesday would likely shake the cryptocurrency space.

Moreover, Trump’s tariff deadline is on Friday.

These macroeconomic developments could trigger significant fluctuations in the digital assets market in the near term.

The post Altcoins update: Dogecoin and Injective signal recoveries as Ethereum eyes $4,000 appeared first on CoinJournal.

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Ether tops $3,800 after consolidating below $3,780; check forecast

Key takeaways

  • ETH dropped below the $3,750 mark on Monday as the broader crypto market undergoes a correction.
  • It is now trading above $3,800 despite the net outflows.

Ether bounces back above $3,800

Ether, the second-largest cryptocurrency by market cap, lost 3% of its value on Monday and temporarily dropped below $3,750. However, it has recovered nicely and now trades above $3,800 per coin. 

The bearish performance comes amid net outflows for the cryptocurrency. According to data from July 29, Ethereum recorded a net outflow of $52.36 million from spot exchanges. 

The outflow highlights the growing Ether withdrawals this month as long-term investors take profit. However, the profit-taking hasn’t halted Ether’s performance as the coin looks set to hit the $4k psychological level soon.

Ether continues to see growing volume thanks to the ongoing NFT boom. While speaking to Coinjournal, Evan Kuhn, President of DeLorean Labs, the Web3 division of the DeLorean brand, revealed that legacy NFTs are seeing increased volumes. He stated that,

“Renewed volume around legacy NFT collections like CryptoPunks shows that digital ownership still has speculative appeal, but the more important shift is how NFTs are evolving into infrastructure. We’re seeing a transition from collectibles to utility. NFTs are now being used to manage access, automate rules, and assign roles within on-chain ecosystems.

While Ethereum’s price rebound has contributed to rising volume, the deeper story is about maturation. As NFTs become tools for real utility, they will move from novelty to necessity.”

Ether targets $4k as bulls remain in control

The ETH/USD 4-hour chart is bearish following Ether’s underperformance on Monday. However, the technical indicators on the lower timeframe have switched bullish, suggesting that buyers are regaining control.

The MACD lines have entered the positive region, indicating that the bias has switched bullish. Furthermore, the RSI of 61 shows that ETH could face buying pressure soon. If the recovery continues, Ether could break past the TLQ and resistance at $3,938 and hit the $4k psychological mark.

ETH/USD 4H chart

An extended bullish run would allow ETH to target the $4,200 level for the first time since December. The all-time high price remains $4,891, and it remains Ether’s medium-term target.

However, if the bearish trend returns, ETH could retest the low below $3,500 in the coming hours or days.

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Pendle TVL surpasses $7B ATH as new catalysts emerge: what’s next?

  • The protocol’s TVL touched $7.02 billion today.
  • Upcoming developments like Boros, HyperEVM, and Converge suggest continued growth.
  • PENDLE’s price has turned bullish after an 8% rally.

Tokenization platform Pendle has attained a new all-time high in total value locked today, hitting $7.021 billion.

It has topped June 2024’s historical peak of $7.013 billion.

The timing could not be better.

The TVL milestone comes as Pendle awaits vital developments in the coming weeks and months, including hyperEVL expansion, Boros release, and Converge launch.

Meanwhile, the total value locked surge signals more capital as users trust Pendle’s yield-trading mechanism, especially following the latest stablecoin regulation.

Digital tokens backed by real-world assets have seen increased appetite since the US signed the GENIUS Act.

This article evaluates what to expect as the protocol braces for key catalysts.

HyperEVM expansion sparks bullish momentum

Pendle has remained on the crypto community’s radar as it prepares to launch HyperEVM.

Speculations suggest that this fastest-growing and most active EVM-compatible chain might go live as soon as this week.

HyperEVM will enhance the protocol’s cross-chain interoperability and access to new audiences.

The upcoming product is more than a Layer 1 or Layer 2.

HyperEVM is ushering in the next generation of DeFi apps.

Pendle’s early integration would enhance its appeal for collaborations, user activity, and new markets for magnified liquidity.

The team launched Hyperwaverfi on July 23 to prepare for the HyperEVM launch.

Boros to unlock new utility

Another catalyst positioning PENDLE for continued growth is the Boros product.

While details remain scarce, Boros aims to significantly improve the ecosystem’s TAM (Total Addressable Market) and introduce new utility for yield-bearing assets.

Some suggest that it will allow traders to trade funding rates without interacting with perps and lock in fixed rates.

The product is scheduled for an August release and would cement Pendle’s value proposition as it attracts more capital and users.

Converge alliance adds momentum

Pendle is among the top partners of the upcoming Converge platform, signaling a deeper connection with modular DeFi protocols.

The tokenization platform will help unlock yield-trading on multiple dollarized assets.

The collaboration reflects Pendle’s commitment to on-chain finance.

It will likely boost the blockchain’s usage and visibility, translating to more benefits for PENDLE holders.

According to Converge:

Tokenized assets need predictable, liquid, and composable yield rails. By building on Converge, Pendle brings fixed-rate products, yield hedging, and liquidity strategies to tokenized securities and institutional-grade dollar instruments.

The upcoming launches, stablecoin growth, and protocol expansion will likely trigger more growth for Pendle in the coming times.

PENDLE price outlook

The altcoin trades at $4.72 after an impressive performance over the past 24 hours.

Overcoming the crucial resistance between $4.80 and $4.90 could support substantial gains towards $9.

PENDLE trades above the 50- and 100 Exponential Moving Averages on the 1D chart, signaling an upside momentum.

Positive broad market sentiments amid the upcoming Pendle catalysts position the altcoin for significant growth in the coming weeks and months.

The post Pendle TVL surpasses $7B ATH as new catalysts emerge: what’s next? appeared first on CoinJournal.

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Solana price prediction: SOL targets $250 amid ETF buzz

Key takeaways

  • SOL is trading at $197 after adding 2% to its value over the weekend.
  • The coin could rally towards $250 soon as investors anticipate a spot ETF.

SOL approaches $200 as altcoins lead the market charge

The cryptocurrency market is having a positive start to the week following last week’s deep correction. Bitcoin is trading above $119k while Ether is targeting the $4k psychological mark.

Binance’s BNB has hit a new all-time high of $857, with XRP and Solana also recording healthy gains. SOL, the native coin of the Solana blockchain, is up by more than 2% in the last 24 hours and now trades close to $200.

The positive performance comes as investors anticipate a Solana spot ETF in the coming months. Bitget Wallet CMO Jamie Elkaleh stated that,

“ETF conversations around SOL are further amplifying interest. With a more crypto-friendly regulatory tone emerging in the U.S., sentiment around both XRP and SOL remains constructive.”

According to market analysts, fundamentals are finally starting to align with Solana’s market structure. Liquidity is improving, and institutional flows are growing. The addition of spot ETF products would boost SOL’s adoption and push the price to new highs.

SOL could hit $250 soon

The SOL/USD 4-hour chart is bullish and efficient, with the market structure shifting to the upside. This shift suggests that SOL could be preparing for another leg up in the coming hours or days.

The technical indicators are also bullish. The RSI of 62 shows that SOL is bullish and could head into the overbought region soon. The MACD lines crossed over into the positive region, suggesting that buyers are in control.

SOL/USD 4-hour chart

If SOL’s daily closes above $195, it could hit the minor resistance level at $207 over the next few hours. An extended rally would allow it to approach the FVG around $225k before rallying to $250 for the first time since January. 

However, failure to close above the $195 region could result in a correction and push SOL lower to the $177 support level. If the bulls fail to hold this support level, SOL could dump further to the $157 low created on July 15.

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BNB hits a new all-time high, targets $900; Check forecast

Key takeaways

  • Binance’s BNB is the best performer among the top 10 cryptocurrencies by market cap, up nearly 8% in the last 24 hours.
  • The coin has hit a new all-time high of $857 and could be set to rally higher in the near term.

BNB trades above $850 as altcoins rally higher

The cryptocurrency market was bearish last week but has begun the new week in a bullish fashion. Bitcoin hit the $119k mark after slipping below $116k on Friday, while Ether is approaching the $4k psychological mark.

However, Binance’s BNB is the best performer among the top 10 cryptocurrencies by market cap. The coin added nearly 8% to its value in the last 24 hours to hit a new all-time high price of $857 a few minutes ago.

The positive performance comes as BNB continues to attract institutional interest thanks to Binance’s position as the leading cryptocurrency exchange in the world. BNB’s rally also indicates that altcoins are currently leading the market charge.

In addition to BNB, other leading altcoins, including Ether, XRP, Solana, Dogecoin, and Cardano, all added over 2% to their values in the last 24 hours.

BNB could extend rally to $900

BNB overtook Solana last week to become the fourth-largest cryptocurrency by market cap and looks set to extend its lead. With a market cap of $119 billion, BNB is nearly $40 billion away from third-place USDC.

The BNB/USD 4-hour chart is bullish and efficient, suggesting that BNB could be preparing for another leg up. The technical indicators are also bullish as buyers are currently in control.

BNB/USD 4H Chart

The RSI of 74 shows that BNB could be heading into the overbought region if the bullish trend continues. Meanwhile, the MACD lines have been in the positive zone for weeks now, suggesting a bullish bias.

If the rally continues, BNB could surge towards the $900 mark and set a new all-time high in the process. The $1k psychological level remains the medium-term goal for Binance’s native coin.

However, BNB might experience a correction following its recent rally. If that happens, BNB could retest the support and TLQ level at $841 over the next few hours. An extended selling pressure would see BNB drop to the weekend low of $795.

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