Author: Sollcrypto
Recent data analysis indicates a significant upswing in Bitcoin accumulation among super holders, signaling a strategic move preceding notable price surges in the cryptocurrency. According to insights shared by Ki Young Ju, CEO of CryptoQuant, Bitcoin inflows into accumulation addresses have surged to an unprecedented level of 25,300 BTC. The surge in accumulation addresses adheres to specific criteria, characterized by no outgoing transactions, a balance exceeding 10 BTC, exclusion of accounts linked to centralized exchanges or miners, more than two incoming transactions, and activity within the last seven years. The analyst’s graph displays a consistent pattern: accumulation peaks just before…
Ethereum price climbed further higher and broke the $3,000 resistance. ETH is still showing positive signs and might extend gains toward $3,120. The upward momentum of Ethereum’s price continues to gain traction, extending its rally. Ethereum’s price established a foundation above the $2,850 mark, initiating another uptrend. Breaking through the $2,920 resistance area, ETH showcased superior performance compared to Bitcoin. Ultimately, the price surpassed the $3,000 threshold. Marking a new multi-week peak at around $3,032, the price is presently consolidating its recent gains. Ether remains steady close to the 23.6% Fibonacci retracement level, calculated from the recent upswing between the…
Bitcoin price is correcting gains from the $52,500 resistance. BTC must stay above the $50,500 support to remain in a bullish zone this month. Bitcoin Price Encounters Obstacles Bitcoin attempted once more to strengthen above the $52,000 resistance zone. Although BTC successfully surpassed the $52,200 level, bearish activity persisted near the $52,500 level. The price reached a peak around $52,475 before undergoing a correction. Subsequently, it dipped below the $52,000 level and traded beneath the 50% Fibonacci retracement level of the upward movement from the $50,581 swing low to the $52,475 high. Additionally, a crucial bullish trend line with support…
Ethereum’s price demonstrates optimistic indications, maintaining levels above the $2,850 support. ETH is poised for further advancement, potentially surging towards the resistance zone at $3,000. The ascent of Ethereum is gradual, surpassing the $2,800 support region.The current price is above $2,850, and it maintains position above the 100-hourly Simple Moving Average.A significant bullish trend line is taking shape with support at $2,910 on the hourly chart of ETH/USD, based on data from Kraken.The currency pair may sustain its upward trajectory towards the resistance zone at $3,000. Ethereum’s Price Continues to Find Support. Ethereum’s price sustained a strong demand, gradually climbing…
Dogecoin is exhibiting bullish indicators above the $0.0875 threshold against the US Dollar, suggesting a potential extension of its upward momentum towards the $0.100 resistance in the short term. DOGE is displaying optimistic signals above the $0.0875 mark against the US dollar.The current price is above both the $0.0880 level and the 100 simple moving average (4 hours).A significant breakthrough occurred above a crucial contracting triangle, where resistance was set at $0.0842, as depicted on the 4-hour chart of the DOGE/USD pair (data sourced from Kraken).There is a possibility that the price might continue its upward trend beyond the $0.090…
Following a relatively calm weekend that saw BTC experience a slight dip below $51,000, the asset has successfully recovered, surpassing $52,000 once more. In the last 24 hours, Ethereum has emerged as one of the standout performers, surging to its highest price in nearly two years, exceeding $2,900. BTC Back Above $52K The trading week concluding on February 11 marked BTC’s most significant weekly gain since October, experiencing a surge of 13%. The primary cryptocurrency’s performance over the past seven days was notably impressive. The week commenced with a substantial uptick on Monday, propelling Bitcoin beyond the $50,000 threshold. A…
Bitcoin is making a new push to surpass the $52,000 resistance, aiming to breach the crucial $52,800 resistance for sustained upward momentum. The current trading scenario sees Bitcoin above $52,000 and the 100 hourly Simple Moving Average. Notably, there was a notable breakthrough above a significant bearish trend line with resistance at $51,880 on the hourly chart of the BTC/USD pair, sourced from Kraken data. Further upward movement for the pair is contingent on successfully surpassing the $52,800 resistance zone. Bitcoin is poised for additional gains in its price. The Bitcoin price initiated a corrective decline from the resistance zone…
In a recent analysis conducted by cryptocurrency analytics firm CryptoQuant, the correlation between Bitcoin prices and funding rates was explored. The study delved into the complexities of funding rates and their potential impact on market dynamics. Funding rates essentially represent the fees exchanged between long and short positions in perpetual futures contracts, ensuring that the price of such contracts closely aligns with the spot price of Bitcoin. In scenarios where a greater number of traders hold long positions, paying fees to shorts to maintain their positions, positive funding rates signal bullish sentiment and suggest potential overindebtedness among longs. Conversely, when…
In a recent discussion on X, Ripple’s Chief Technology Officer, David “JoelKatz” Schwartz, addressed accusations claiming that Ripple had manipulated the price of XRP through its programmatic sales. Schwartz unequivocally rejected these allegations, affirming that Ripple had discontinued its programmatic sales of XRP starting the first quarter of 2023, a detail outlined in Ripple’s Q1 2023 XRP Markets Report. He went on to explain that Ripple had consistently worked to mitigate the price impact of these sales and expressed bewilderment regarding the purported motive behind the accusations of manipulation. Doubt and explanations. However, the announcement faced skepticism from certain segments…
The price of Shiba Inu (SHIB) has recovered and has risen above the moving average lines. SHIB price analysis by Coinidol.com. Shiba Inu’s future price forecast for the long term is optimistic, indicating a bullish outlook. Since January 3, the cryptocurrency has maintained a bearish trend above the $0.00000870 support. On February 7, the altcoin experienced a rebound, surpassing the moving average lines. As of now, SHIB/USD is valued at $0.00000977. The ongoing upward momentum has encountered resistance around $0.00001000. While the altcoin is trading below its earlier peak of $0.00001000, it remains above the moving average lines. If the…