Schlagwort: crypto market

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ZEC dips 3.5% despite broader crypto market’s recovery

Key takeaways

  • ZCash is one of the worst performers among the top 30 cryptocurrencies by market cap, down 3.5% in the last 24 hours.
  • The coin could rally higher in the near term amid demand for privacy-focused cryptocurrencies. 

ZEC slips as broader market recovers

ZEC, the native coin of the Zcash ecosystem, is down by 3.5% in the last 24 hours, making it one of the worst performers among the top 30 cryptocurrencies by market cap.

It is trading at $241 per coin, down from the $257 recorded on Tuesday. The bearish performance comes amid a decline in Zcash’s derivatives data.

According to CoinGlass, ZEC’s futures’ Open Interest (OI) reads $438 million, down from the $473 million recorded on Tuesday, reflecting the decreased notional value of open contracts.
Typically, an OI decline during a dip in spot price reaffirms the bearish narrative as traders anticipate further recovery.

Technical outlook: Will Zcash price recover above $250 soon?

The ZEC/USD 4-hour chart is bullish but inefficient as Zcash’s price faced rejection above the $250 psychological level. 

It is currently trading below its 50-day EMA of $248c, suggesting that the bulls failed to take advantage of the recent rally. 

Despite that, the near-term bias is cautiously bullish as ZEC holds above the recent lows, while remaining capped beneath the long-standing descending resistance line.

If the bulls regain control and ZEC’s daily candle closes above $250, it would confirm the upside breakout and open the path toward the 200-day EMA at $274, followed by the 23.6% Fibonacci retracement level at $362. 

The Moving Average Convergence Divergence (MACD) line has turned higher above the signal line and moved back into positive territory on the 4-hour chart, suggesting strengthening upside pressure. 

ZEC/USD 4H Chart

The Relative Strength Index (RSI) at 61 reinforces the recovery of bullish momentum without signaling overbought conditions.

On the downside, if the rejection candle holds, ZEC could drop towards the 38.2% Fibonacci retracement level at $231, followed by the rising trendline near the $200 psychological support level.

The post ZEC dips 3.5% despite broader crypto market’s recovery appeared first on CoinJournal.

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Bitcoin stalls near $66K: is a bigger drop coming this week?

  • Bitcoin price tests $65,000 support amid oversold conditions and weak momentum.
  • Rising US real yields and oil prices weigh on short-term buying pressure.
  • Traders should watch the $68,400 resistance and $65,100 support for the next moves.

Bitcoin (BTC) is showing signs of short-term fatigue as it navigates a tricky market environment.

After failing to break above resistance near $68,400, BTC has retreated toward critical support between $65,600 and $65,100.

The cryptocurrency is now hovering in a delicate range, where technical oversold signals clash with potent macroeconomic pressures.

Technical analysis

The seven-day RSI currently sits at 32.37, suggesting that Bitcoin is nearly oversold.

Bitcoin price chart

This level often indicates a potential bounce, but the market has yet to show sustained buying strength. Short-term momentum is fragile, with price action struggling to maintain levels above $66,000.

Even though buyers have defended the $65,600 band so far, a break below $65,100 could signal a deeper correction.

Resistance remains firmly in place at $68,400, and attempts to push past it have been met with immediate selling. Traders should closely watch the $68,000–$68,500 zone, as it represents the ceiling for any short-term recovery attempts.

In this range-bound setup, the market is consolidating rather than trending decisively.

The macro headwinds shaping Bitcoin price movements

Bitcoin’s short-term struggles are compounded by external pressures.

Rising real yields, especially on 10-year TIPS in the United States, have increased the appeal of government bonds over risk assets like BTC.

As a result, investors seeking yield are diverting capital toward these safer instruments, leaving Bitcoin with weaker demand.

At the same time, WTI crude oil prices have surged past $103 per barrel and Brent crude oil prices have hit $114, adding another layer of market uncertainty.

Energy-driven inflationary concerns make the broader financial environment more cautious, further dampening appetite for speculative assets.

Adding to the pressure, a $2.2 billion payout by the FTX Recovery Trust to FTX creditors is scheduled for March 31, 2026.

Recipients may choose to liquidate portions of their holdings, which could add temporary selling pressure and keep BTC range-bound.

Even large buyers, often referred to as whales, are active but appear to be accumulating cautiously below $70,000.

This cautious accumulation suggests that institutional players are positioning for the long term but are unwilling to push aggressively at current levels.

What traders should expect this week?

Short-term momentum is still weak, so any bounce is likely to be contained unless macro conditions improve.

Overall, Bitcoin is at a crossroads, balancing oversold technical conditions against persistent bear pressures from rates, oil prices, and potential selling catalysts.

Traders should monitor the $65,100 level closely, as a decisive hold here would support consolidation between $65,100 and $68,000.

A break below this band could open the door to a further decline toward $63,000 or lower.

On the upside, sustained moves above $68,400–$68,500 would be required to challenge resistance near $70,000.

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Why TRON price turned bearish even as Anchorage Digital added institutional TRX custody

  • TRX dips despite Anchorage Digital enabling institutional custody.
  • $0.309 is the key support, with $0.3189 acting as the immediate resistance.
  • Market awaits active institutional adoption to boost TRX price.

TRON (TRX) has seen a slight dip to around $0.309, even as news broke that Anchorage Digital, the only crypto firm with a US federal banking charter, will add institutional TRX custody.

On the surface, this might seem contradictory since institutional adoption is usually bullish for digital assets.

But TRX’s price action suggests the market is not always immediately responsive to structural developments.

What Anchorage Digital’s move means for TRON

Anchorage Digital’s integration of TRON into its platform gives US institutional investors a regulated avenue to store, manage, and potentially stake TRX.

It is also part of a phased rollout, with plans including TRC‑20 token support and native staking.

From a technical standpoint, this is a strong signal of growing infrastructure and trust around TRON.

It lowers barriers for institutions that previously faced compliance or custody challenges.

In theory, such developments should increase demand for TRX and push the price upward.

However, markets often take time to internalise these structural changes.

Understanding the current bearish trend

There are likely several reasons for the temporary bearishness.

First, broader crypto market trends have been mixed, with key assets showing minor declines over the past 24 hours as oil rises over $110.

Second, some traders may be waiting for confirmation that institutions are actively using the custody service before entering positions.

Finally, TRX is facing a strong resistance near $0.3189, and on the lower side, there is a strong support around $0.3090 that, if broken, could trigger further downward pressure toward $0.3012.

Going by these levels, it is evident that the TRX price is currently bound in a narrow range, reflecting a period of consolidation.

What to expect over the weekend

While the short-term trend may seem bearish, the institutional integration remains a positive signal.

If adoption by institutions picks up, it could unlock new price ranges for TRX in the coming weeks.

The market may also respond to growing stablecoin activity on the TRON network, which highlights its ongoing utility.

For now, traders should watch for a breakout on either side of the current consolidation range.

A breakout above $0.3189 would confirm the continuation of its recent bullish momentum, while a break below $0.3090 would mean the beginning of a pullback after weeks of bullish trend that has seen it gain over 8%.

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Katana (KAT) price outlook following Upbit and Bithumb listings

  • Katana (KAT) gains momentum from Upbit and Bithumb listings with KRW pairs.
  • Katana Perps launch adds derivatives and deeper market utility.
  • Traders should watch the support at $0.014 and the immediate resistance at $0.016.

Katana (KAT), the native token of the Katana Network, has seen an extraordinary 53% price surge today, largely fueled by major cryptocurrency exchange listings.

Katana Network price chart

Upbit and Bithumb, two of South Korea’s largest cryptocurrency exchanges, have added KAT, opening up direct KRW trading pairs for the token.

These listings have given Katana greater visibility in a market known for active retail participation.

South Korean investors often respond quickly to new token listings, and the addition of KRW trading pairs makes it easy for traders to engage with KAT.

This kind of exposure can amplify buying pressure and lead to sharp price moves, especially when combined with already strong market momentum.

The recent surge has also coincided with extremely high trading volumes.

KAT’s daily turnover has been several times its earlier average, signalling strong interest from traders and speculators.

Sustained volume is crucial for maintaining momentum. If volume remains high, KAT is likely to continue testing local highs.

Conversely, a sudden drop in trading activity could lead to sharp pullbacks.

Adding to the bullish narrative, Katana recently acquired IDEX to launch a native perpetual futures platform called Katana Perps.

By integrating derivatives trading directly into the ecosystem, Katana can capture more trading activity within its own network.

This move also brings professional liquidity providers and market makers into the token’s orbit, creating a more stable and deeper market.

Technical outlook

Overall, KAT is in a high-momentum phase driven by both exchange listings and real product development.

From a technical analysis perspective, KAT is currently hovering near its recent local high, and the immediate support level to watch is $0.014.

Holding above this level would suggest that bullish momentum remains intact and could pave the way for a retest of the local high around $0.016.

But if this support fails, traders should anticipate a move toward the next key support near $0.012.

Volume remains a crucial indicator in this environment.

Sustained daily volume above $100 million would confirm strong trader interest and reduce the likelihood of a sudden correction.

On the other hand, if volume drops below $50 million, it could signal that momentum is fading and that a pullback may be imminent.

The combination of exchange listings, high trading volumes, and a new derivatives platform provides KAT with both momentum and structural growth potential.

However, traders should be aware that these factors create opportunities but also increase the risk of sharp swings if interest wanes.

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Solana price prediction: here’s why rebound to $120 is possible if $90 holds

  • $90 acts as crucial support for a potential Solana price upward move.
  • Rising short-term momentum supports a possible rebound.
  • Breaking $100 could open the path toward $120.

Solana (SOL), currently trading at around $91.90, has been under immense bear pressure in recent months.

The token has seen a steady decline from its previous highs, but recent technical signals suggest a rebound could be in play.

The $90 level is emerging as a key support level, which, if held, could trigger a strong upward move.

Technical analysis

The immediate support level at $90 has been tested several times in recent weeks, and every time Solana approaches it, buyers have stepped in to prevent further declines.

Technical charts show that holding this level is critical since a break below it could lead to a pullback toward $77.

Solana price rebound on the table

On the other hand, maintaining $90 provides a foundation for bulls to push higher.

Momentum indicators show a mixed picture, with shorter timeframe charts indicating growing strength, although some oscillators are still signalling caution.

This suggests that while there is potential for upward movement, the market is waiting for confirmation.

Trading volume has also picked up slightly in the past month, showing renewed interest among traders.

Yet, on-chain activity has dropped, indicating fewer transactions on the network.

This combination of higher trading volume and lower on-chain use points to speculative interest driving the short-term rally.

Why a rebound to $120 is possible

The combination of technical support, rising volume, and potential bullish momentum makes the $120 target realistic if $90 holds.

If Solana holds $90, the path to $96.47 is relatively clear.

Once $96.47 is broken and sustained, a move toward $120 becomes plausible.

This would represent a nearly 30% gain from current levels, making it an attractive scenario for bullish traders.

Historical patterns also support this possibility.

In previous cycles, Solana has seen rapid rallies after establishing such strong support levels.

Short-term momentum is improving, and daily momentum indicators such as Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are turning more positive.

The MACD histogram is above the middle line, and the signal line has moved above the main MACD line, and the RSI has rebounded above 50 after a slight dip, signalling a possible rebound in the near term.

These suggest that buyers are gaining control, at least for the near term.

However, caution still remains since any failure at the resistance at $96.47 could lead to sideways trading or a complete collapse.

In addition, the market is sensitive to broader cryptocurrency trends, and a strong rebound in Bitcoin (BTC) and Ethereum (ETH) could further lift Solana’s price, while weakness in these coins could cap Solana’s gains.

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