In a crypto market filled with meme coins, one dog-themed token is turning heads (and filling wallets). PlayDoge (PLAY), the virtual pet sensation, has just passed the million mark in its ICO. And early investors are now wondering if they’ve stumbled on the next big thing in crypto gaming. PlayDoge Revives Virtual Pets Using […]
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Aptos Reaches Milestone, Processes Over 95 Million Daily Transactions
The Aptos blockchain reached a milestone in its history, processing over 95 million in a single day. According to data provided by Artemis, a blockchain statistics platform, the number broke an L1 industry record on May 24, pushed by the tap to earn game Tapos, in which each tap or click constitutes a transaction. Aptos […]
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99Bitcoins Token Passes $1.5M Presale Milestone Ahead of Learn-to-Earn Protocol Launch
The crypto education sector is about to be flipped on its head. 99Bitcoins Token (99BTC) has now raised over .5 million during its presale phase ahead of launching its groundbreaking “Learn-to-Earn” protocol. 99Bitcoins Token Rewards Crypto Knowledge with Learn-to-Earn System For those unfamiliar, 99Bitcoins has been simplifying crypto since the dawn of Bitcoin itself in […]
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Pompliano Foresees Historic Milestone for Crypto Industry With Potential Ethereum ETF Approval
In a series of recent social media posts, renowned crypto investor and influencer Anthony “Pomp” Pompliano has shared his optimistic outlook on the future of the cryptocurrency industry. Highlighting the potential approval of an Ethereum exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission, Pomp stated, “If they approve the Ethereum ETF, they are […]
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Bitcoin Price Soars Back: Reclaims the Coveted $70K Milestone
Bitcoin price gained over 8% and surged above ,000. BTC is now consolidating gains and showing signs of more upsides in the near term.
- Bitcoin started a fresh increase above the ,000 resistance zone.
- The price is trading above ,000 and the 100 hourly Simple moving average.
- There is a connecting bullish trend line forming with support at ,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could start another increase unless the bears push it below ,800.
Bitcoin Price Pumps 8%
Bitcoin price formed a base above the ,500 level. BTC started a fresh increase above the ,000 resistance zone after Ethereum rallied above ,200.
There was a strong move above the ,000 resistance zone. The price gained over 8% and even tested the ,000 resistance zone. A new weekly high was formed at ,896 and the price is now consolidating gains.
The price is well above the 23.6% Fib retracement level of the upward move from the ,047 swing low to the ,896 high. Bitcoin is also trading above ,000 and the 100 hourly Simple moving average. Besides, there is a connecting bullish trend line forming with support at ,500 on the hourly chart of the BTC/USD pair.
The price is now facing resistance near the ,850 level. The first major resistance could be ,000. The next key resistance could be ,500. A clear move above the ,500 resistance might send the price higher. In the stated case, the price could rise and test the ,200 resistance.
If the bulls remain in action, the price could rise toward the ,400 resistance zone. Any more gains might send BTC toward the ,000 barrier.
Are Dips Limited In BTC?
If Bitcoin fails to climb above the ,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the ,500 level and the trend line.
The first major support is ,000. The main support is now forming near ,850 or the 50% Fib retracement level of the upward move from the ,047 swing low to the ,896 high. Any more losses might send the price toward the ,450 support zone in the near term.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 70 level.
Major Support Levels – ,500, followed by ,000.
Major Resistance Levels – ,850, ,000, and ,500.
New Crypto Presale to Watch: WienerAI Meme Coin Hits $2M Milestone
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XRP Set For Major Upswing: Top Analyst Reveals Timing For $10-$20 Price Milestone
XRP, the cryptocurrency associated with Ripple, has been locked in a lengthy period of consolidation, trading between .300 and .600 for the past seven years.
Despite a brief surge during the 2021 bull run that saw XRP reach a three-year high of .9 in April, the token has since returned to its range, lacking the bullish momentum to overcome upper resistance levels.
However, some crypto analysts are now predicting a major uptrend for XRP in the coming months, potentially propelling it to new heights.
Analysts Anticipate XRP Breakout
A technical analyst using the pseudonym “U-COPY” on the social media site X (formerly Twitter) suggests that XRP could experience significant movement between May 15 and August.
U-COPY points out that XRP has been slowly moving up from its previous low at .46 and is nearing the end of a long triangle formation, which has been in accumulation since 2018.
The analyst believes that XRP’s real potential will be revealed in the fully formed bull cycle, with the token possibly experiencing substantial growth by the end of the year.
Supporting this bullish outlook, another analyst, Armando Pantoja, proposes that the crypto bull run could begin in September or October 2025, with XRP potentially reaching a price of .75.
Pantoja further suggests that if former US President Trump wins the election and the Securities and Exchange Commission (SEC) eases its stance on cryptocurrencies, XRP could be propelled to higher levels.
This change in regulatory dynamics, combined with the ongoing legal battle between Ripple and the SEC, may increase the likelihood of XRP gaining approval for an exchange-traded fund (ETF) similar to Bitcoin.
Pantoja outlines a price range of -2 for an XRP ETF announcement in early 2025. If interest rates are cut multiple times during the same period, XRP could potentially reach -10. Ultimately, Pantoja predicts the possibility of XRP hitting – by the fourth quarter of 2025 or the first quarter of 2026.
‘Buy the Dip’ Opportunity?
According to market intelligence platform Santiment, The XRP Ledger (XRPL) has recently witnessed a notable increase in the movement of dormant tokens, signaling a potential shift in market dynamics for the token.
Coinciding with the opening of May, the company’s Token Age Consumed metric reveals a spike in the transfer of old coins, reminiscent of a similar occurrence in April, just before a significant downturn in the market. During that period, XRP experienced a sharp decline in value, dropping by 16%.
However, in contrast to the previous event, Santiment suggests that there is a “compelling argument” that this current surge in old coin movement might be attributed to the interest of key stakeholders looking to “buy the dip.”
Furthermore, it is worth noting the growing open interest in exchanges, which has recently reached a three-week high. This uptick in open interest indicates increased active positions in XRP, potentially reflecting growing market participation and heightened trading activity.
Considering these factors together—the surge in dormant token activity, the potential buy-the-dip interest from key stakeholders, and the rising open interest on exchanges—there appears to be a shift in sentiment surrounding XRP.
At press time, the seventh-largest cryptocurrency trades at .5020, down over 7% in the past week alone and 1% in the past 24 hours.
Featured image from Shutterstock, chart from TradingView.com
Bitcoin Milestone Ahead? Analyst Forecasts New Peak This Month
In the face of a general market decline and pessimism, Captain Faibik, a cryptocurrency expert and enthusiast, has emerged with an optimistic outlook for Bitcoin (BTC) foreseeable future trajectory, predicting that the crypto asset could rise to a new all-time high before this current month closes.
Bitcoin To Reach New All-Time High In May
Faibik’s analysis, which is based on his in-depth knowledge of cryptocurrency dynamics and a sharp eye for market trends, explores the possibility of a large short-term rise in Bitcoin. According to the analyst, Bitcoin is at a key junction currently testing the daily Moving Average 100 (MA100) level once more after recovering from it in the past.
Historically, the crypto asset has found considerable support at the 100MA level. Should BTC recover from this point on, Captain Faibik anticipates a significant rise on the upside in the upcoming days. Thus, he expects the digital asset to reach a new all-time high within the month.
The post read:
Last time, BTC bounced back from the daily MA100, and now it is testing it again. If it bounces back from here, we can expect a Bullish Rally in the coming days. New All the High could be incoming this month
The crypto analyst noted Bitcoin’s price action in the daily timeframe also suggests that a bullish rise is on the horizon. Faibik stated that on the daily timeframe chart, BTC is still moving above the major trendline and inside the green box indicated in his chart. As a result, the analyst expects BTC to undergo a quick comeback.
Related Reading: If History Repeats, This Is How Bitcoin Price Will Perform In The Next 6 Months
Another notable finding from Captain Faibik is that the daily Relative Strength Index (RSI) has been drifting below a trendline that has been in place for some months. Although this might indicate a brief waning of positive momentum, Faibik interprets it as a sign of an impending price recovery for Bitcoin. Given that BTC is still moving inside the bullish flag pattern, the expert anticipates a bounce back towards ,000 in the upcoming days.
0,000 Price Target For BTC
Captain Faibik’s most bullish target for BTC recently is the 0,000 price mark. Last week, Faibik pointed out key narratives that could catalyze Bitcoin’s price to 0,000 in the coming months.
According to the expert, the presence of bullish investors in the market was the reason why BTC was trying to make a comeback in the previous week. Thus, for a significant price increase to 0,000, these investors must retake the crucial resistance level of ,000.
Furthermore, Faibik highlighted that BTC Bulls have solidly secured the weekly Exponential Moving Average (EMA) 10 following the October 2017 Descending Channel breakout. Due to this, the crypto analyst is setting 0,000 as the digital asset’s next price target.
Following a decrease of more than 13% over the previous 7 days, the price of Bitcoin is currently trading at ,701. In the last day, its market cap has plummeted by over 6%, while its trading volume has increased by about 61%.
Dogecoin To $1: Analyst Thinks Dream Milestone Could Be Hit In Coming Weeks
An analyst has explained how a pattern forming in the Dogecoin price may suggest a rally to , if historical trend repeats this time as well.
Dogecoin 1-Week Price Appears To Be Forming A Classic Pattern
In a new post on X, analyst Ali has discussed how DOGE seems to have been showing a classic pattern in its weekly price once again. This trend involves a technical analysis (TA) pattern called the “Descending Triangle,” which, as its name suggests, is shaped like a triangle.
The pattern involves two trendlines between which the price of the asset consolidates; one of these is a line slopped downwards while the other is parallel to the time-axis. This property of the price converging downwards as it goes through the pattern is why it has descending in its name.
Like other TA consolidation patterns, the upper line of the Descending Triangle also provides resistance to the commodity, making tops more probable to form at it. Similarly, the lower line acts as a point of support and can help the price reverse back upwards.
A break out of either of these lines may result in a continuation of the trend in that direction. This means that a break above the triangle can be a bullish signal, while one below could suggest the dominance of bearish momentum.
Similar to the Descending Triangle, there is also an Ascending Triangle in TA, which works much like it, except for the fact that the parallel axis makes the upper line, connecting together tops, while the lower line ascends up as it joins higher lows.
Now, here is the chart shared by Ali that highlights a pattern that DOGE’s 7-day price has been forming recently:
From the graph, it’s visible that the Dogecoin 1-week price had been trading inside a long Descending Triangle between 2021 and this year, but the meme coin found a break earlier and has since registered some notable uplift.
Recently, though, the cryptocurrency has reached a stage of sideways movement. This, however, may not entirely be a bad thing, as DOGE has also seen a similar trend of a Descending Triangle break followed by consolidation in the past as well.
As is visible in the chart, the previous two such formations led to Dogecoin witnessing some very significant growth. As such, the latest one may also prove to be bullish, if this historical pattern continues to hold.
“Based on past trends, we might just see DOGE rocket towards in the coming weeks!” explains Ali. From the current spot price, such a potential rally would mean a growth of a whopping 525% for the coin.
DOGE Price
Dogecoin’s price action has been quite stale since the price plunge earlier in the month, as the asset’s price is still trading around .16.
Halving Milestone: Block 840,000 Mined, Ushering in a New Chapter as Bitcoin Miners Face Shrinking Rewards
At 8:12 p.m. ET on Friday, April 19, 2024, the Bitcoin network marked its fourth block reward halving at block height 840,000. Block 840,000 was mined by Viabtc, securing the notable ‘epic satoshi’ for the fortunate mining pool and a 3.125 BTC reward. The Halving Is Now Complete Bitcoin’s latest halving event occurred at block […]
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