In June, the number of cryptocurrency automated teller machines (ATMs) saw a slight decline, yet 377 new ATMs were installed during the month. Since January 2024, data shows a total of 2,564 crypto ATMs have been deployed globally. 2024 Sees Steady Rise in Crypto ATMs Despite June Dip At the end of 2022, there was […]
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FTC Warns: Social Media Investment Scams on the Rise
The U.S. Federal Trade Commission (FTC) has warned consumers about a surge in social media investment scams, especially in cryptocurrency. These scams involve fraudulent messages claiming guaranteed high returns with little or no risk. The FTC advises ignoring such messages and reminds consumers that all investments carry inherent risks. FTC Issues Warning on Social Media […]
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Solana ETF Approval Odds Rise Amid Potential Political Shifts, Analyst Says
Bloomberg’s senior ETF analyst has stated that the odds of a Solana exchange-traded fund (ETF) being approved within the next 12 months are closely linked to the likelihood of a change in the U.S. presidency. He noted that it is “safe to say the chances of both are higher today than they were yesterday.” Potential […]
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Can Terra Classic Rise From The Ashes? Analyst Foresees 1,500% Price Increase
Terra Classic (LUNC), the phoenix attempting to rise from the ashes of the infamous TerraUSD crash, is once again capturing investor attention. Coincodex analysts predict a modest 10.7% price increase by July 25th, while renowned crypto analyst Javon Marks throws a much bolder 1,500% surge into the ring. So, is LUNC poised for a bullish breakout, or is this just another mirage in the volatile crypto desert?
A Token Reborn: LUNC Capitalizes On Market Volatility
LUNC, once the backbone of the collapsed TerraUSD (USTC) stablecoin ecosystem, has defied expectations. While USTC lost its peg to the US dollar and spiraled into oblivion, LUNC has exhibited surprising resilience.
The past 24 hours saw an 82% price jump, showcasing continued investor interest in the controversial token. This resilience coincides with a broader market trend where investors, wary of traditional assets, are seeking refuge in digital currencies perceived as having strong recovery potential.
Analyst Divided: Measured Optimism Vs. Moon Shot
Coincodex paints a picture of cautious optimism. Their prediction of a 10.7% rise suggests LUNC may experience a slow and steady climb. This aligns with the “Fear & Greed Index” which currently sits at a moderate “Fear” level, indicating a cautious market.
We remain here $LUNC (Terra Classic)’s first target at .00058046, implying a more than +594% upside from here to reach it in response to a long-standing breakout.
Trend-Wise, based on the previous breakout and climb, this level can be exceeded with heights of .00139122 being… https://t.co/rAbwsHIkqY pic.twitter.com/XOYdulvUc8
— JAVON
MARKS (@JavonTM1) June 24, 2024
However, analyst Javon Marks throws a wrench into the mix with a far more audacious prediction. Marks posits a potential 1,500% price surge, targeting a price of .00139122. This bullish outlook hinges on the idea that LUNC is nearing a breakout phase, fueled by a combination of its recent price gains and historical data.
A Balancing Act Of Hype And Reality
While Marks’ prediction is certainly enticing, historical trends in the cryptocurrency market are littered with failed “moon shot” predictions. The extreme volatility inherent in the crypto space makes long-term price forecasting notoriously unreliable.
Additionally, technical indicators currently lean bearish, suggesting potential short-term price dips. Investors should also consider the ongoing legal battles surrounding the Terra ecosystem, which could cast a shadow on LUNC’s future.
Terra Classic Rejects Validator Expansion Proposal
Meanwhile, the Terra Luna Classic community has rejected Proposal 12116, which sought to increase the blockchain’s validator set from 100 to 130. This proposal emerged in the wake of a .5 billion settlement between Terraform Labs, founder Do Kwon, and the US Securities and Exchange Commission. The aim was to enhance the network’s decentralization by incorporating validators from Terra Luna v2, potentially signaling a move towards unification within the Terra ecosystem.
However, the proposal did not gain sufficient support in the community’s governance voting. Concerns about integrating Luna v2 validators, the potential impacts on network security and performance, and the desire to maintain a distinct identity for Terra Luna Classic were significant factors in the decision.
Featured image from Pexels, chart from TradingView
XRP Enters Triangle Formation: Analyst Predicts Rise To $200 Amid 300% Surge In Volume
Crypto analyst Egrag Crypto has provided insights into the XRP future trajectory, predicting that the crypto token could rise to three digits. His prediction comes amid a recent spike in XRP’s trading volume, which also provides a bullish case for the crypto token.
XRP To Reach 0 At Some Point
Egrag suggested in an X (formerly Twitter) post that XRP could reach 0 at some point based on its next triangle consolidation. He stated that in the future, newbies would talk about how XRP’s price has remained stagnant at around (instead of its current price of around .50) and that these same persons would complain about XRP pumping from to 0.
Basically, the analyst was predicting that XRP will experience exponential growth soon and that XRP newbies will not understand how the crypto token has come a long way, considering how it has remained stagnant for a while now. He claimed these investors will “never comprehend seven years of conviction and dedication.”
Egrag acknowledged the frustration regarding XRP’s tepid price action and even mentioned that XRP Ledger (XRPL) builders are “starting to nag and feel frustration.” However, as always, he urged the XRP army to “stay steady.” He suggested that XRP is the token of the future, as he stated that “all previous models will be thrown out the window because they will not apply to the fourth industrial revolution.”
Egrag’s analysis comes amid a recent surge in XRP’s derivatives trading volume, with data from Coinglass showing a 300% increase and a total of .24 billion traded in the last 24 hours. Additionally, data from CoinMarketCap shows that XRP’s spot trading volume is up by over 200% in the last 24 hours.
This development is significant. It shows that crypto investors and traders are actively invested in the crypto token and may be looking to accumulate more XRP during this period, which could contribute to a price rally for the crypto token. Interestingly, XRP is one of the few crypto tokens up in the last 24 hours despite the recent crypto market dip.
Another Bullish Outlook
Crypto analyst Casi Trades also recently offered a bullish outlook for XRP. She claimed the crypto token looked “very bullish” as it had just come off the golden retracement levels. Casi Trades further stated that the altcoin needs to achieve a “strong breakout” above these resistance levels, noting that such an occurrence will clearly indicate a new trend.
She suggested that this could be a big moment for XRP, stating that “this test could be the moment” that the market has been waiting for. Casi Trades sounded optimistic that XRP could achieve this breakout as she stated that Bitcoin had retraced close to the .618 level, which she believes could set the stage for the breakout.
Ethereum On The Rise and Outperforms Bitcoin: Signals Indicate Fresh Increase
Ethereum price started a fresh increase from the ,365 zone. ETH outperformed Bitcoin and might aim for a move toward the ,800 resistance zone.
- Ethereum started a recovery after the bulls appeared near the ,365 zone.
- The price is trading above ,550 and the 100-hourly Simple Moving Average.
- There was a break above a key bearish trend line with resistance near ,550 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could extend gains if it stays above the ,550 pivot level.
Ethereum Price Outperforms Bitcoin
Ethereum price extended losses below ,550 and ,500 resistance levels. However, ETH bulls took a strong stand near the ,350 zone. A low was formed at ,364 level and the price started a fresh increase, outperforming Bitcoin.
There was a move above the ,450 and ,550 resistance levels. There was a break above a key bearish trend line with resistance near ,550 on the hourly chart of ETH/USD. The pair even climbed above the ,600 level and tested the ,650 resistance.
A high was formed at ,649 before there was a pullback below ,620. The price declined below the ,600 support level and the 23.6% Fib retracement level of the upward move from the ,364 swing low to the ,649 high.
Ethereum is now trading above ,550 and the 100-hourly Simple Moving Average. If there is a fresh increase, the price might face resistance near the ,620 level.
The first major resistance is near the ,650 level. An upside break above the ,650 resistance might send the price higher. The next key resistance sits at ,720, above which the price might gain traction and rise toward the ,800 level.
A clear move above the ,800 level might send Ether toward the ,880 resistance. Any more gains could send Ether toward the ,950 resistance zone.
Are Dips Limited In ETH?
If Ethereum fails to clear the ,620 resistance, it could continue to move down. Initial support on the downside is near ,550. The first major support is at ,500 and the 50% Fib retracement level of the upward move from the ,364 swing low to the ,649 high.
A clear move below the ,500 support might push the price toward ,420. Any more losses might send the price toward the ,365 level in the near term.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now near the 50 zone.
Major Support Level – ,550
Major Resistance Level – ,650
Robert Kiyosaki Frustrated by ‘Lame Excuses’ to Avoid Buying Bitcoin – Foresees Significant Price Rise
Rich Dad Poor Dad author Robert Kiyosaki has urged investors to buy bitcoin despite the cryptocurrency’s high prices. “I become frustrated encouraging people to buy bitcoin. I receive so many lame excuses,” he said, emphasizing that although the current price is high, it is not as high as it will be in the future. ‘I […]
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Uniswap Price on the Rise: UNI Eyes Set on Further Gains
UNI price started a fresh increase above the .50 resistance. Uniswap is showing positive signs and might eye more upsides above the .00 resistance.
- UNI started a fresh increase above the .50 resistance zone.
- The price is trading above .60 and the 100-hourly simple moving average.
- There is a key bearish trend line forming with resistance near .15 on the hourly chart of the UNI/USD pair (data source from Kraken).
- The pair might aim for more upside if there is a clear move above the .20 resistance.
UNI Price Holds Support
After forming a base above the .75 level, Uniswap started a fresh increase like Bitcoin and Ethereum. UNI price gained pace for a move above the .20 and .50 resistance levels.
The price even cleared the .00 resistance zone. A high was formed at .32 before the price started a downside correction. There was a drop below the .00 level and the 23.6% Fib retracement level of the upward move from the .72 swing low to the .32 high.
UNI is still trading above .50 and the 100-hourly simple moving average. Immediate resistance is near the .00 level. The next key resistance is near the .20 level. There is also a key bearish trend line forming with resistance near .15 on the hourly chart of the UNI/USD pair.
A close above the .20 level could open the doors for more gains in the near term. The next key resistance could be near .65, above which the bulls are likely to aim a test of the .50 level. Any more gains might send UNI toward .00.
Are Dips Limited In Uniswap?
If UNI price fails to climb above .00 or .20, it could slowly move down. The first major support is near the .50 level or the 50% Fib retracement level of the upward move from the .72 swing low to the .32 high.
The next major support is near the .35 level. A downside break below the .35 support might open the doors for a push toward .00.
Technical Indicators
Hourly MACD – The MACD for UNI/USD is losing momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for UNI/USD is above the 50 level.
Major Support Levels – .50, .35, and .00.
Major Resistance Levels – .00, .20, and .65.
Dogecoin Price Prediction: Analyst Forecasts Meteoric 21,700% Rise To $17, Here’s When
Crypto analyst Javon Marks has made an ultra-bullish prediction for the Dogecoin price in this bull run. The analyst claims that the foremost meme coin could attain such ambitious heights based on its performance in previous market cycles.
Dogecoin To Rise As High As In This Bull Run
Marks shared a chart on his X (formerly Twitter) platform in which he predicted Dogecoin could enjoy a 21,700% price gain and rise to . The analyst made this forecast based on Dogecoin’s historical breakout trend, in which the meme coin has had larger runs in every subsequent bull run.
During the 2017 bull run, Dogecoin is known to have enjoyed a price gain of over 7,100%, while the meme coin made a price move of 22,800% in the 2021 bull run. As such, Marks believes Dogecoin will make a larger run in this bull run than the one in 2021, making the rise to feasible.
However, some of his followers believe that it is unlikely that Dogecoin will rise to such heights since, based on its current circulating supply, that would give the meme coin a market cap of over 2 trillion. As such, that has put a question mark on Marks’ ambitious price prediction, given how much the crypto market will need to explode before DOGE can have such a market cap.
However, other crypto analysts like Kevin (formerly Yomi OG) have shared bullish price predictions for Dogecoin, although nothing compared to Marks’. Kevin predicts that the foremost meme coin could rally to over in this market cycle. He made this prediction while alluding to Dogecoin’s price action in previous cycles.
The analyst claimed that Dogecoin has never failed to meet or surpass the 1.618 Macro FIB extension measured from previous bull market highs to bear market lows—Dogecoin’s current 1.1618 FIB level is said to be at .80, meaning that it could rise to this price level in this bull run.
More Bullish Narratives For DOGE
Kevin revealed in a recent X post that Dogecoin is creating “massive bullish divergence on the weekly Stoch RSI (Relative Strength Index).” He also noted that Dogecoin is currently forming a higher low and added that the last time DOGE was at .08, the last time it crossed bullish. Based on this, he claims big moves are on the horizon for the foremost meme coin.
Crypto analyst Crypto Kaleo also recently predicted that Dogecoin will outperform Bitcoin in this market cycle. He further remarked that this is a meme supercycle and that the “king of memes” would not be left behind. In another X post, he claimed that Dogecoin looks ready for that parabolic move to the upside.
Claims Against Collapsed South African Bitcoin Investment Firm Rise to $84.5 Million
Claims against Mirror Trading International (MTI) have reached over .5 million (ZAR1.6 billion), with more than 8,000 proven creditors as of the end of April. The MTI estate still holds around .7 million in its accounts. Legal action is underway in multiple countries to recover withdrawals made by those who profited from the scheme. MTI […]
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