Author: Sollcrypto
According to IntoTheBlock, over 150,000 ETH was deposited to exchanges in the past 24 hours, marking the largest single-day inflow since January. This surge has raised concerns about a potential Ethereum sell-off. IntoTheBlock’s analysis points out that such significant inflows often signal increased selling pressure, as traders may be looking to either lock in profits or limit further losses amidst recent price fluctuations. In a tweet, IntoTheBlock stated:”Over 150,000 $ETH was deposited to exchanges yesterday, the highest since January. Such substantial inflows often indicate rising selling pressure, as users may be looking to capitalize on recent price movements—whether to secure…
On a broader scale, Ethereum’s price has been in a downtrend, nearly erasing all gains since the start of 2024. However, recent developments suggest that this trend could soon reverse.### Technical AnalysisBy Edris Derakhshi (TradingRage)**The Daily Chart**On the daily chart, Ethereum has been consolidating within a range of $2,100 to $2,700, with the downward momentum appearing to pause. Despite this, the market structure remains bearish, and the price needs to break above the $2,700 level to establish a higher high.That said, recent price movements suggest a potential bottom may be forming. While it’s too early to confirm, a new uptrend…
Bitcoin’s (BTC) spot volume surged to $16 billion on Sept. 18 after the U.S. Federal Reserve announced a 50 basis point interest rate cut. David Lawant, head of research at FalconX, suggested that this spike in volume, coupled with the liquidity trends observed over the last six months, could signal a period of heightened volatility. “Coiled Spring” Effect Lawant pointed out that the current spot volume is nearly 30% higher than August’s daily average, indicating stronger liquidity during market recovery phases compared to downturns. He echoed a sentiment recently shared by Bitwise CIO Matt Hougan, likening the current market dynamics…
Bitcoin’s future seems to be on a less optimistic trajectory—at least according to its longtime critic, Peter Schiff, who recently outlined a scenario that could drive the cryptocurrency down to the $15,000-$20,000 range.In a recent post on X, Schiff pointed out what he perceives as a troubling chart pattern, calling it a “triple top,” which he believes indicates a potential downturn. He suggested that, “at minimum,” Bitcoin could drop to the upward trend line around $42,000, though he doubts it will hold there for long. Instead, he expects BTC to retest longer-term support levels near $20,000.Schiff’s warning comes as a…
According to trading experts and analysts, Bitcoin (BTC) remains in a precarious position despite its recent upward correction. Technical and fundamental analyses offer insights as volatility persists and investors speculate on the cryptocurrency’s next move.One such analyst, Credible Crypto, known for his accurate and thoughtful assessments of Bitcoin and other cryptocurrencies, recently shared that he’s holding off on publishing a new analysis until clearer signals emerge.Previously, as reported by Finbold, Credible Crypto had celebrated BTC hitting his “downside target” and anticipated a shift toward “full bull gear.” However, since his last analysis, the market dynamics have shifted, and Bitcoin’s path…
Bitcoin and Cryptocurrency Market Poised for a 2024 Rally Amid US Dollar Concerns Bitcoin and the broader cryptocurrency market are expected to surge in 2024 as fears mount over the potential collapse of the US dollar. Over the past year, Bitcoin’s price has nearly doubled, spurred by speculation that Russia might soon adopt the cryptocurrency. A new development in China could further amplify this market shift. Economists suggest that China may introduce a substantial $1.4 trillion stimulus package, which could revitalize its economy and drive up Bitcoin and crypto prices. HSBC’s chief Asia economist, Fred Neumann, has painted a grim…
Solana (SOL) has been consolidating within a range of $124 to $186 for a while, with the critical resistance level at $160 playing a pivotal role in its upcoming price action. While some indicators hint at a potential increase, the momentum may not be robust enough to drive SOL beyond $160 just yet. However, market signals suggest that a move toward this resistance level is becoming more probable. Broader Market Indicators Favor Solana The current market sentiment for Solana is bullish, with tightening Bollinger Bands often signaling a potential price rise. SOL’s candlesticks are consistently above the Bollinger Bands’ baseline,…
Cryptocurrency analyst Jason Pizzino has identified a key resistance level that Bitcoin (BTC) must clear to potentially trigger a significant rally. In a new video for his 333,000 YouTube subscribers, Pizzino explains that if Bitcoin rises by about 6% from its current price, it could pave the way for a broader bullish move. “If we start seeing tests and closes above $58,000 in the short term, this could signal an early bounce, leading to a test of the more critical level around $61,500, which marks the 50% correction from March to August,” Pizzino says. “Overcoming and consolidating above this level…
Ethereum’s price has been under significant pressure, even as most of the crypto market is experiencing losses. ETH dropped 40% between May and August, despite the launch of a spot Ethereum ETF in June. Additionally, Metalpha’s $90 million ETH sale has added further downward pressure on the price. This continued weakness indicates that there may be deeper issues affecting Ethereum. Should investors be worried about the future of the Ethereum network and its native asset?
Buyers are not going to give up so easily, according to CoinMarketCap. SOL/USD Analysis Solana (SOL) has gained 2.44% in the past 24 hours. On the hourly chart, SOL is currently trading in the middle of its local channel. A potential resistance breakout could occur if today’s candle closes near the $136 level, which could pave the way for a move toward $137. On the daily chart, the key level to watch is $138.13. A close above this level could trigger enough momentum to push SOL into the $145-$150 range. From a midterm perspective, bulls have not yet gathered sufficient…