MATIC, the native token of the Polygon network, has witnessed a significant price gain in the last day, drawing much attention from investors. According to data by CoinMarketCap, MATIC gained by 10.44% over the last 24 hours, representing a better market performance than most top assets, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), etc.

MATICs Price Overview In July 

Since the beginning of the month, the MATIC market has experienced a series of gains and losses, which, so far, have been in line with the general crypto market.

Related Reading: BNB Price at Make-or-Break Levels As The Bulls Aim Big Above This Resistance

MATIC began the month trading around $0.66 before witnessing a steady price rise to hit the $0.71 resistance zone on July 4. However, after failing to break past this barrier, the ERC-20 token saw its price fall by 7%, returning to the $0.66 price mark the following day.

On July 6, MATIC attempted another bullish run but was followed by a sharp price decline. But since then, the token has seen a steady price increase since then, leading up to its recent price boost. 

In the early hours of today, MATICs price shot up by 10%, breaking past the $0.71 resistance level to attain a peak price of $0.74, and has since remained in that zone. This price increase moves MATICs total gain in July to 12.12% as of this writing.

In addition, blockchain analytics firm Santiment also reported the Polygon utility token to have recently witnessed some positive on-chain signs. These included an increase in new daily addresses, declining exchange supply, and low-profit taking.

According to data by CoinMarketCap, MATIC is currently exchanging hands at $0.74, with a 0.86% gain in the last hour. The tokens trading volume is up by 93.17% and is now sitting at $543.19 million. With a market cap of $6.9 billion, MATIC ranks as the 12th-largest cryptocurrency.

Is A Bullish Run On For MATIC?

Following MATICs price hike today, there is likely much speculation on the tokens next movement. Looking at its 4-hour chart, the Relative Strength Index (RSI) has just dipped below the overbought zone indicating a bearish trend on the horizon.  However, its Moving Average Convergence Divergence (MACD) is well-placed above the signal line, so the bullish run may still be on.

According to MATICs price movement, the token appears to be in an ascending channel recording higher highs and lows in the last month. If MATIC manages to break out of its current consolidation zone, it is expected to only tr...

While the Bitcoin price is currently stuck in a sideways trend, a few altcoins on the crypto market are currently showing a strong momentum. These three altcoins are currently attracting the attention of investors and traders alike: Shiba Inu (SHIB), Solana (SOL), and Polygon (MATIC). Lets dive into the technical chart analysis of these altcoins and examine the potential price moves that could unfold this week.

Shiba Inu (SHIB) A Make-or-Break Moment

SHIB finds itself at a critical juncture, where the next move could determine its trajectory for the rest of the year. After experiencing a remarkable rally earlier this year, SHIB entered a descending trend channel at the beginning of February, dragging its price below the yearly opening level. However, a breakthrough from this channel occurred over the weekend, signaling a potential reversal.

As the SHIB bulls attempt to validate this breakout, their success could propel the price upwards by 30%, as NewsBTC reported yesterday. This would bring SHIB towards the resistance area between $0.00000969 (200-day EMA) and $0.00000977 (38.2% Fibonacci), with a significant psychological milestone of $0.00001 within reach.

Nonetheless, a confirmation of the breakout is still pending. While the Shiba Inu price managed to stay above the trend channel yesterday, the bulls are still hesitant to make an impulsive move higher towards the 23.6% Fibonacci level at $0.00000834. A breakout above this can be seen as confirmation of a trend change.

Solana (SOL) Rising Against The Crypto Odds

Solana (SOL) made a splash in the crypto market last week, recording an impressive 39% price increase over the last 12 days. This surge propelled SOL to the critical resistance level represented by the 200-day exponenti...

Paxful, founded in 2015, has established itself as one of the worlds prominent peer-to-peer Bitcoin marketplaces, with a strong mission to enable financial access for individuals globally. Boasting an extensive user base of 9 million and offering over 350 payment options, the platform has garnered substantial popularity.

However, on July 7, Ray Youssef, the former CEO of Paxful, conveyed a message to the platforms users, urging them to cease trading activities.

Financial Instability And Comparisons To FTX Collapse

Youssef expressed concerns about the current state of Paxful, claiming that the company is now solely focused on paying legal bills and cautioned that no African or non-American should trust any IS corporation. These warnings from Youssef were prompted by reports that Paxful had removed the reserve funds amount from the platforms status page.

Related Reading: Paxful CEO Says He Has Lost 5 Bank Accounts

Reserve funds are often savings accounts or highly liquid assets placed aside to cover unforeseen financial responsibilities, and Youssef believes that Paxfuls lack of reserves puts the company at risk of financial instability. Without these funds, Paxful may struggle to manage cash flow fluctuations, fulfill immediate financial obligations, or respond effectively to emergencies. Consequently, this situation has the potential to jeopardize Paxfuls survival.

Youssef also concurred with a Twitter user who compared Paxful and the collapse of FTX. The user highlighted that FTX, despite being one of the worlds largest cryptocurrency exchanges at the time, had filed for bankruptcy. This collapse was triggered by Changpeng Zhao, the CEO of Binance, announcing that his exchange would be dumping its FTT Token holdings, amounting to around $2 billion. The bank run that followed this announcement opened up a web of lies and mismanagement that led to the eventual collapse of the exchange.

The announcement caused a sharp decline in the price of FTT and generated concern among investors. As a result, traders hurriedly withdrew their funds from FTX, leading the company to confront a substantial $8 billion shortfall.

To prevent a similar case like FTX bankruptcy, Youssef advised Paxful users to withdraw their funds until further investigation is conducted to uncover the truth behind the situation.

By taking control of their own cryptocurrency assets, users can m...

Standard Chartered, one of the worlds leading banks, has raised its long-term Bitcoin price forecast, predicting that the value of the flagship cryptocurrency could reach $120,000 by the end of 2024. This upward revision comes as the bank acknowledges the potential for miners to hold a larger share of the newly minted Bitcoin supply.

With the recent surge in Bitcoins price, Standard Chartered sees an opportunity for miners to reduce their selling activities, which could have implications for the cryptocurrencys scarcity and future value.

Miners Role In Bitcoin Value Proposition

Miners hold a significant position within the crypto ecosystem, as they are responsible for the creation and upkeep of the network. And Standard Chartereds forecast of Bitcoin reaching $120,000 by the end of 2024 is rooted in the notion that miners may adapt their selling practices to cover operational expenses, particularly the costs of electricity required for mining activities.

Related Reading: Standard Chartered Predicts Bitcoin Could Reach $100,000 By End of 2024

By reducing the portion of newly generated Bitcoins they sell, miners can balance their cash inflows while simultaneously decreasing the overall supply of Bitcoin available in the market. This adjustment in selling behavior has the potential to impact the supply-demand dynamics of Bitcoin and potentially contribute to a surge in its value.

The rationale behind Standard Chartereds prediction lies in the assumption that miners, who currently produce approximately 900 new BTC daily on a global scale, will opt to hold onto a larger portion of their newly minted coins. By doing so, they can cover their operational costs more efficiently.

If this adjustment occurs and the proportion of BTC sold by miners decreases, it could lead to a reduction in the net supply of Bitcoin by roughly 250,000  BTC per year. Such a decrease in supply has the potential to exert upward pressure on the value of Bitcoin as demand potentially outpaces the available coins in circulation.

Factors Driving Standard Chartereds Optimism

Standard Chartereds revised forecast is underpinned by the expectation th...

Hamburg-based Berenberg Capital Markets recently highlighted the upcoming Bitcoin halving event as a potential trigger for the bullish case of Microstrategy, a United States-based software firm, in a recent research note.

The research note emphasized that Microstrategy, with a bullish price target of $430, primarily derives its value from its substantial holdings of over 150,000 BTC. And Berenberg expects the historical trend of Bitcoin rallying after each halving to repeat.

Halving Events And Bitcoins Market Impact

Halving events are significant occurrences in the Bitcoin network that happen approximately every four years. During these events, the rate of new coin issuance is reduced by 50%, resulting in a slower influx of new Bitcoins into the market. The upcoming fourth Bitcoin halving, scheduled for April 26, 2024, is expected to follow this pattern.

Berenbergs recent research note highlighted the historical trend observed in the previous three halvings and suggested that a pre-halving rally could potentially commence in about four months. If this rally follows a similar trajectory to previous halvings. It could persist until approximately October 2025, according to the research note.

Berenberg noted:

If the historical pattern established by the first three Bitcoin halvings continues to play out with the fourth halving, then the pre-halving rally would begin about four months from now. If a rally were to occur after the fourth halving, and if it were as long-lived as the rallies that occurred after the past couple of halvings, then it would continue until around October 2025.

Correlation Between Bitcoin And Microstrategys Stock

According to the research note, there is a strong correlation between Microstrategys stock price and the price of Bitcoin, estimated to be around 0.90. If the fourth bitcoin halving triggers a significant rally in the price of the cryptocurrency, it is likely that Microstrategys stock will follow suit.

This forecast is due to the positive outlook for Bitcoins post-halving performance contributing to the anticipation of a potential rally in Microstrat...

Dogecoin (DOGE) experienced a substantial surge on the price chart towards the end of June. However, despite this notable increase, it failed to ward off the sellers who swiftly entered the market. 

Can Dogecoin regain its momentum and rise again, or will it succumb to the mounting pressure from the bearish sentiment?

Bitcoin (BTC) also experienced a downturn in the previous week, and this negative trend had a noticeable impact on the sentiment surrounding Dogecoin.

Unfortunately, the figures did not provide a strong basis for a potential recovery in DOGE. Instead, it indicated a looming decline towards the price range of $0.053 and $0.048.

DOGE Bearish Indicators Emerge

The current DOGE price on CoinGecko stands at $0.0652, experiencing a modest 0.7% rally within the past 24 hours. However, it is important to note that a decline of 5.8% has been recorded over the course of the past seven days.

This price movement has prompted a closer examination of the market conditions, revealing some bearish signals and underlying trends.

Based on a DOGE price report, it appears that bears are preparing to exert downward pressure on prices once again. The Relative Strength Index (RSI) has slipped below the neutral 50 level, indicating a shift in momentum towards the bearish side, suggesting that selling pressure may increase in the near future.

Additionally, the On-Balance Volume (OBV) has been unable to surpass a resistance level since May, reflecting a lack of interest from buyers. This suggests that market participants may be hesitant to make significant purchases, contributing to the downward pressure on DOGE prices.

Although some buyers noticed the recent short-term rally and made purchases as prices slowly edged higher, it is worth noting that this rally pales in comparison to the significant surge the meme coin experienced in early April, when Dogecoin reached the $0.1 level.

...

Bitcoin has reached a critical juncture in its current market cycle, according to a recent analysis conducted by on-chain analytics firm Glassnode. The data reveals striking similarities to historical patterns, raising questions about the potential emergence of a familiar phenomenon: the re-accumulation period.

A Resilient Market: Bitcoin Holds Firm At Mid-Cycle

The Glassnode analysis reveals that Bitcoin is consolidating around the $30,000 mark, which acts as a significant mid-point within the 2021-2023 cycle. The historical significance of this level is not to be overlooked, as it has been tested repeatedly in previous cycles.

Remarkably, the mid-cycle phenomenon is not exclusive to the current cycle; similar mid-cycle points were observed in both 2013-2016 and 2018-2019, displaying analogous supply dynamics.

As Bitcoin currently hovers around the $30,000 mid-point, approximately 75% of the total supply is currently held in a profitable state, while the remaining 25% remains in a loss position. This balance of supply held in profit versus loss is reminiscent of equilibrium points witnessed during previous cycles, indicating a potential re-accumulation period.

As Glassnode explains, This 75:25 balance of supply held in profit:loss is the equilibrium point for Bitcoin. 50% of all trading days have seen a higher Profit-to-Loss balance, and 50% a lower one. Such equilibrium points have historically required time for the market to digest and re-consolidate around, often accompanied by a period of sideways trading and volatility. This has become known as the re-accumulation period.

At the moment, The supply held in-loss has declined to just 4.79 million BTC, reaching similar levels seen in July 2021 ($30k), July 2020 ($9.2k), April 2016 ($6.5k), and March 2016 ($425).

PEPE recently reached a new peak, driven by the significant hype surrounding Bitcoin Exchange-Traded Funds (ETFs). However, as the initial excitement surrounding ETFs subsided, Bitcoin (BTC) experienced a period of fluctuation. 

Notably, during this time, PEPE has been gradually making lower highs. Amidst these fluctuations, it becomes essential to examine the underlying factors that have contributed to the declining trend in PEPEs price perfomance.

Are there external market forces at play, or is it indicative of a broader shift in the cryptocurrency landscape? Additionally, how will this development impact the future trajectory of PEPE and other cryptocurrencies?

PEPE Price Performance: From Highs To Fluctuations

PEPE recently reached a new high of $0.00000190. However, its current price on CoinGecko stands at $0.00000152, reflecting a modest 4.3% rally in the past 24 hours. Nevertheless, over the course of the last seven days, PEPE has experienced a significant decline of 13%.

Technical indicators further emphasize the shift in PEPEs price trajectory. A PEPE price report highlights that various indicators have flashed sell signals. Notably, the Relative Strength Index (RSI) has made lower highs, indicating a decline in buying pressure over the past few days.

Moreover, the On Balance Volume has eased, suggesting a decrease in demand, while the Average Directional Index (ADX) has dropped below 20, indicating a lack of a strong trend for PEPE. 

These technical signals hint at the challenges PEPE has faced in the face of its recent fluctuations.

Altcoins Massive Pullbacks Amidst Bitcoins Extended Consolidation

Meanwhile, Bitcoin (BTC) has entered a phase of extended consolidation, with its price fluctuating above the $30,000 mark for nearly two weeks. This prolonged period of stability, coupled with intermittent fluctuations, has had a cascading effect on the...

BNB price (Binance coin) is rising above $245 against the US Dollar. The price could start a strong increase if it clears the $250 and $255 resistance levels.

• Binance coin price is attempting a fresh increase from the $232 zone against the US Dollar.
• The price is now trading above $240 and the 100 simple moving average (4 hours).
• There is a major bearish trend line forming with resistance near $248 on the 4-hour chart of the BNB/USD pair (data source from Binance).
• The pair might gain bullish momentum above $248 and $250.

Binance Coin Price Eyes Fresh Rally

In the past few days, BNB price saw a couple of swing moves from $250. There was a move below the $240 support zone. However, the bulls were seen active near the $232 support zone.

The price traded as low as $231 and is currently rising, similar to Bitcoin and Ethereum. There was a move above the $240 resistance. The price climbed above the 50% Fib retracement level of the downward move from the $255 swing high to the $231 low.

BNB price is now trading above $240 and the 100 simple moving average (4 hours). On the upside, it is facing resistance near the $248 level. There is also a major bearish trend line forming with resistance near $248 on the 4-hour chart of the BNB/USD pair.

It is close to the 76.4% Fib retracement level of the downward move from the $255 swing high to the $231 low. The next major resistance is near $250. A close above the $250 resistance might increase the chances of a push above the $255 resistance.

Source: BNBUSD on TradingView.com

A clear move above the $252 resistance might start a steady increase. The next major resistance is near the $270 level, above whi...

Ethereum price is attempting a fresh increase from $1,825 against the US Dollar. ETH could rally if there is a clear move above the $1,900 resistance.

• Ethereum is currently attempting a recovery wave above the $1,855 zone.
• The price is trading above $1,865 and the 100-hourly Simple Moving Average.
• There is a major bearish trend line forming with resistance near $1,900 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start a decent increase if there is a close above $1,900.

Ethereum Price Revisits Resistance

Ethereums price remained stable above the $1,825 support zone. ETH started a slow recovery wave and was able to climb a few points higher above $1,850, similar to Bitcoin.

The bulls were able to push the price above the 100-hourly Simple Moving Average. The price broke the 50% Fib retracement level of the key decline from the $1,955 swing high to the $1,825 low. However, the bears were seen active near the $1,900 resistance zone.

There is also a major bearish trend line forming with resistance near $1,900 on the hourly chart of ETH/USD. Ether is now trading above $1,865 and the 100-hourly Simple Moving Average.

Immediate resistance is near the $1,890 level. The first major resistance is near the $1,900 zone and the trend line. The trend line is close to the 61.8% Fib retracement level of the key decline from the $1,955 swing high to the $1,825 low.

Source: ETHUSD on TradingView.com

A close above the $1,900 resistance could start a decent increase toward $1,975. The next major resistance is near the $2,000 level. Any more gains could send Ether toward the $2,050 resistance or even $2,120.

Another Rejection in ETH?

If Ethereum fails to clear the $1,900 r...

Data shows FUD related to XRP may be spreading on social media platforms right now, a sign that could potentially help the price reverse.

XRP Social Dominance Has Spiked While The Price Has Been Declining

According to data from the on-chain analytics firm Santiment, discussions around XRP have surged during the past day. The relevant indicator here is the social volume, which measures the total amount of unique social media text documents that are making mentions of a given cryptocurrency.

The social media text documents here refer to a collection of posts, threads, and other forms of text-based data sourced from major platforms like Twitter, Reddit, Telegram, and 4chan.

Since the metric only counts the unique number of such documents, it means that individual posts have the same weightage, regardless of how many times they mention the term (obviously, they will only be counted at all if they have at least one mention).

This restriction has the benefit that a few posts with a large number of mentions of the asset cant skew the social volume on their own. Thus, the indicator can provide us hints about the degree of discussion that a coin is receiving from the average social media users.

Now, here is a chart that shows the trend in the XRP social volume over the past month:

As displayed in the above graph, the XRP social volume has registered some high values during the past day or so. This would suggest that discussions around the cryptocurrency have become elevated in this period.

In the chart, data for another indicator, social dominance, is also shown. This metric tells us what percentage of the combined social volume of the top 100 cryptocurrencies (by market cap) is being contributed by any individual coin.

From the graph, its visible that the XRP social dominance has also observed a large spike recently. Naturally, this trend would suggest that the relative share of discussions on social media platforms related to this asset has gone up.

The implication here is that the latest social volume increase isnt due to a general uplift in talks related to the cryptocurrency sector, but rather due to an increased interest in XRP specifically (if it was otherwise, the social dominance wouldnt have changed too much even after...

The Shiba Inu (SHIB) price may be facing the most important moment this year, which could either push the price up another 30% or seal its stay in the bear market. For the SHIB bulls, now is the time to show their true strength.

To recall: earlier this year, SHIB experienced a furious rally of close to 100%. But since the yearly high on February 4, at $0.00001597, the Shiba Inu price has been in a descending trend channel, which has even pushed the price well below the yearly opening price at around $0.000008.

Over the past weekend, the long-awaited breakout from the descending trend channel took place. The Shiba Inu price broke above the top of the trend channel at $0.0000076 and managed to hold firm above this level on Sunday. However, some selling pressure can be observed today (Monday). A retest of the breakout from the trend channel is taking place.

Based on this, it is now up to the SHIB bulls to confirm the trend and avoid a fakeout. If this fails, investors could quickly lose interest in Shiba Inu again and the price could fall towards the mid-range of the trend channel and the yearly low at $0.000006.

If the breakout is confirmed, however, resistance at $0.00000833 could become the first target. At this price level, the 23.6% Fibonacci retracement level is also located.

With the daily RSI currently sitting at 49, there is still much room left for an explosive move north which could send SHIB on a 30% rally towards the resistance area between $0.00000969 (200-day EMA) and $0.00000977 (38.2% Fibonacci retracement level), before the psychologically important level of $0.00001 is also within reach. At this point, a breather from a possible rally can be expected.

Bullish Case For Shiba Inu Price Prevails

Santiment, a renowned market intelligence platform, has highlighted the renewed interest in Shiba Inu, evident through a surge in whale transactions. Recent data reveals a...

Cardano is buzzing with excitement as one of its prominent community members, known as ADA Whale, unveils a groundbreaking decentralized payment service called Hydra Pay. 

This eagerly anticipated solution comes at a crucial moment for Cardanos native cryptocurrency, ADA, which has recently faced significant challenges following the United States Securities and Exchange Commissions classification of the token as a security.

In the midst of these regulatory challenges, ADA managed to defy the odds and soar with an impressive 11% gain, according to an ADA price report. However, as of the time of writing, the price of ADA has once again dipped into the red zone.

Steady Development Activity But Declining ADA Price Raises Concerns

Cardano, a prominent blockchain platform, is currently experiencing a slight setback as the price of ADA has shed 0.3% of its value in the past 24 hours, with a seven-day decline of 3.0%, according to data from Coingecko. As of now, ADA is valued at $0.285.

Despite the recent fluctuations in ADAs price, Cardanos development activity (see figure below) has remained stable throughout 2023, in stark contrast to the erratic swings witnessed in the latter half of 2022. 

ADA Whales Tw...

COMP, the native token of DeFi lending protocol Compound Finance, has drawn much attention following its positive price performance in the last day. According to data by CoinMarketCap, COMP has risen by 11.03% in the 24 hours, emerging as the top daily gainer of the market.

This price rise is quite significant, as COMP recorded some price drops in the last few days, which may have prompted concerns for its numerous investors after the tokens remarkable, bullish form in recent weeks. 

COMP To Break Key Resistance Level?

In the third week of June, COMP embarked on a stunning bullish run which saw the DeFi token gain over 125% to trade as high as $69.15 as of July 4.

Related Reading: Compound (COMP) Token Rallies Over 100% After CEO Quits Details

However, after attaining this price level, COMP came under significant selling pressure, losing over 9.63% of its market value in the last week before experiencing its recent price boost today. 

Looking at its 4-Hour Chart, its Relative Strength Index a tool for measuring the pace and variation of price movement is set at 53 but is currently ascending toward the overbought zone meaning the current price uptrend may last for a while.  

In tandem, the tokens Moving Average Convergence Divergence (MACD) line just crossed above the signal line, which is also interpreted as a bullish signal. 

Analyzing its price movement, COMP faces major resistance at the $70 price zone as the token has failed to break past this barrier twice in the last three weeks. 

However, if the market bulls are able to sustain the current buying pressure pushing past this price level, COMP is likely to resume its initial bullish trajectory.

If the token fails to break past the $70 price zone, however, it will likely fall and retest at the $50.00 price mark, which currently represents its imminent support level. 

At the time of writing, Compound (COMP) is trading at $58.62, with a 0.60% decline in the last hour. The tokens daily trading volume is valued at $136 million, having gained by 216.75%. 

General Crypto Market In Red

Amidst COMPs market gain, a majority of the crypto market is experiencing slight losses, with the total crypto market cap declining by 0.77% in the last 24 hours, according to data by CoinMarketCap. 

Bitcoin (BTC), the premier cryptocurrency and market leader, is down by 0.60%, while Ethereum (ETH) has also seen its market price drop by 0.56%.

Related Reading:...

Shiba Inu (SHIB), a cryptocurrency featuring an adorable dog-inspired logo, has witnessed a remarkable surge in large transactions. However, theres more to the recent surge than initially meets the eye. 

What is the driving force behind the significant increase in Shiba Inu transactions? Could this be indicative of a larger trend unfolding in the cryptocurrency space?

Amidst the noticeable surge in substantial SHIB transactions, it is crucial to acknowledge the significant outflows from prominent holders. This particular observation prompts us to question the underlying motives driving these transactions and the potential consequences they may have on the market.

Substantial Surge In SHIB Transactions

A remarkable surge in substantial Shiba Inu (SHIB) transactions has recently been reported. According to a SHIB price report, these transactions witnessed an astonishing spike, skyrocketing by an impressive 454% last Thursday.

Within the span of 24 hours, the cumulative number of these transactions reached an astounding 6.36 trillion tokens, translating into a substantial increase of $36.38 million in monetary terms.

Although there was a slight decrease in volume during the subsequent 24-hour period, the level remained significantly high. During the weekend, the recorded value settled at 4.49 trillion SHIB or $34.38 million. The ongoing enthusiasm and involvement in the Shiba Inu token indicate a consistent commitment to its engagement.

Shiba Inu: Market Response And Price Analysis

The surge in substantial SHIB transactions and the sustained interest and activity surrounding the Shiba Inu token raise questions about their potential impact on its price. While the reported increase in transactions reflects heightened market engagement, it does not directly indicate the direction of the SHIB price.

SHIB on CoinGecko is at $0.00000760. Over the past 24 hours, there has been a slight decline of 1.0% in its price, while the seven-day period has witnessed a marginal decrease of 0.2%.

...

In the fast-moving crypto world, one altcoin made particularly high waves last week: Solana. Within the top 100 cryptocurrencies by market cap, the SOL price recorded the second highest price increase within the last seven days with 8.5%. And the unexpected surge in price for many has catapulted the SOL token to arguably the most crucial resistance at the moment: the 200-day exponential moving average (EMA).

Looking at the 1-day chart, the Solana share price was able to break above the 38.2% Fibonacci retracement level at $19.71, as predicted in our last chart analysis, and subsequently crossed the psychologically important $20.00 mark. While the first attempt failed, the Solana bulls celebrated a resounding success in the second attempt.

However, as predicted in our last price analysis, there was increased selling pressure at the 200-day EMA currently at $21.97, to which the bulls succumbed. Similar to the last week of June, a consolidation may now be needed first to reset the technical indicators. In mid-June, SOL posted a 26% rally, followed by a seven day consolidation (bull flag).

A similar scenario could be possible now. A retest of the 38.2% Fibonacci level at $19.71 could be on the table. Remarkably, the pressure on the bulls is huge as the Solana token has failed to break the 200-day EMA since April 2022. The most recent rejection occurred in April 2023, followed by a 44% crash.

However, the external circumstances in the crypto market are different now. Due to the hope for a Bitcoin spot ETF, new life has been breathed into the altcoin market as well. Solana, despite its strong fundamentals, has been hit particularly hard by the FTX drama and more recently the SECs declaration of it as a security. Accordingly, a recovery offers plenty of upside potential.

If the 200-day EMA breaks, th...

Litecoin (LTC) has recently faced a significant decline in its price, with bears gaining momentum as it slumps below the crucial $100 mark. LTC, often referred to as the silver to Bitcoins gold, has been a favorite among investors seeking an alternative to the pioneer cryptocurrency.

The bearish momentum behind Litecoins decline raises questions about the factors driving this price slump and the potential implications for the broader cryptocurrency market. 

Will Litecoin be able to regain its strength and recover from this setback, or is there more downside ahead?

Bears Pull LTC Price Down

Litecoin is currently experiencing a downturn in its price, with CoinGecko reporting it at $93.52. This marks a significant decline of 4.5% within the last 24 hours and a substantial seven-day slump of 17.2%.

As the price slips below the crucial $100 mark, traders and investors are closely monitoring the situation and assessing the potential factors that could influence LTCs rebound.

The recent dip below $100 has sparked concerns among market participants, indicating that sellers might be gaining the upper hand.

Traders and investors are now paying close attention to the $90-$92 price range as a critical zone that could determine the outcome of the ongoing battle between the bulls and the bears. 

According to an LTC price report, if the price manages to hold above this level and the bulls can regain control, it could indicate a potential recovery for LTC.

However, a breach of this support zone may further fuel the bearish sentiment and lead to additional downward pressure on Litecoins price.

Insights And Technical Factors To Consider

To anticipate how Litecoin will rebound from this slump, traders and investors should closely examine various insights and technical factors. Factors such as trading volume, price patterns, and support/resistanc...

Cardanos price is struggling below the $0.30 zone. ADA could start a sharp decline if it breaks the $0.2765 support zone in the near term.

• ADA price is moving lower below the $0.292 support against the US dollar.
• The price is trading below $0.290 and the 100 simple moving average (4 hours).
• There is a major bullish trend line forming with support near $0.2815 on the 4-hour chart of the ADA/USD pair (data source from Kraken).
• The pair could decline heavily if the bulls fail to protect the $0.2765 support zone.

Cardanos ADA Price Faces Uphill Task

This past week, Cardanos price attempted a fresh increase above the $0.285 zone. The price climbed above the $0.295 resistance zone but the bears were active near the $0.30 zone.

A high was formed near $0.3015 before there was a fresh decline. The price declined below the $0.285 level and tested the $0.2765 support. It is now consolidating losses below $0.292, similar to Bitcoin and Ethereum.

There was a minor recovery wave above the 50% Fib retracement level of the downward move from the $0.3013 swing high to the $0.2754 low. However, the bears were active above the $0.290 level. ADA is now trading below $0.290 and the 100 simple moving average (4 hours).

There is also a major bullish trend line forming with support near $0.2815 on the 4-hour chart of the ADA/USD pair. On the upside, immediate resistance is near the $0.288 zone and the 100 simple moving average (4 hours).

Source: ADAUSD on TradingView.com

The first major resistance is forming near the $0.292 zone or the 61.8% Fib retracement level of the downward move from the $0.3013 swing high to the $0.2754 low. The next key resistance might be $0.30. If there is a...

Ethereum price extended its decline below $1,880 against the US Dollar. ETH is showing bearish signs and might decline further toward $1,800.

• Ethereum is currently attempting a recovery wave from the $1,825 zone.
• The price is trading below $1,880 and the 100-hourly Simple Moving Average.
• There is a key bearish trend line forming with resistance near $1,905 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could attempt a fresh increase but upsides might be capped near $1,900.

Ethereum Price Faces Resistance

Ethereums price failed to continue higher above the $1,925 resistance and started a fresh decline. ETH declined below the $1,900 and $1,880 levels to move into a short-term bearish zone, similar to Bitcoin.

The price even tested the $1,825 support. A low is formed near $1,825 and the price is now attempting a recovery wave. There was a break above the 23.6% Fib retracement level of the downward move from the $1,956 swing high to the $1,825 low.

Ether price is still trading below $1,880 and the 100-hourly Simple Moving Average. There is also a key bearish trend line forming with resistance near $1,905 on the hourly chart of ETH/USD.

Immediate resistance is near the $1,880 level or the 100-hourly Simple Moving Average. The first major resistance is near the $1,890 zone. The next major resistance is near the $1,900 level and the trend line. It is close to the 61.8% Fib retracement level of the downward move from the $1,956 swing high to the $1,825 low.

Source: ETHUSD on TradingView.com

A clear move above the $1,905 resistance could start a decent increase toward $1,955. The next major resistance is near the $1,975 level. Any more gains could send Ether toward the $2,050 resistance....

Bitcoin price is moving lower below the $30,500 pivot level. BTC could decline heavily if there is a close below the $29,800 support zone in the near term.

• Bitcoin is moving lower below the $30,500 support zone.
• The price is trading below $30,500 and the 100 hourly Simple moving average.
• There was a break below a contracting triangle with support near $30,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could extend its decline if it stays below $31,200 for a long time.

Bitcoin Price Shows Bearish Signs

Bitcoin price moved into the red zone after it broke the $30,500 support zone. BTC traded below the $30,000 level but the downsides were limited.

The price seems to be trading in a range above the $29,850 support zone. There was a move above the 23.6% Fib retracement level of the downward move from the $31,630 swing high to the $29,868 low. The price even attempted a fresh increase above the $30,500 resistance but failed.

Bitcoin is now trading below $30,500 and the 100 hourly Simple moving average. There was also a break below a contracting triangle with support near $30,200 on the hourly chart of the BTC/USD pair.

If there is another increase, the price might face resistance near the $30,300 level and the 100 hourly Simple moving average. The next resistance is near the $30,500 zone, above which the price might retest $30,750. It is close to the 50% Fib retracement level of the downward move from the $31,630 swing high to the $29,868 low.

Source: BTCUSD on TradingView.com

If the bulls push the price above the $30,750 level, there could be a drift toward $31,000. The next major resistance is near the $31,400 level. Any more gains could open the doors for a move toward the $32,000 resista...

Solana (SOL) has witnessed a remarkable recovery in the past week, showcasing a string of steady gains. Presently, SOL has increased by 10% and is actively traded at $21.80, reflecting a slight uptick in the cryptos price.

While its important to note that SOL remains significantly distant from its all-time high of $260, the recent upward motion has lifted its value beyond the $20 mark, indicating promising signs of an extended bullish sentiment

Whats Behind SOL Rise? 

There are several factors right now that could have influenced the rise in SOLs price. These include macroeconomic factors such as inflation and crypto regulation in different areas. In addition, Solana has experienced some success in adoption with some ecosystems adopting the token and launching cross-chain bridges. 

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However, the most likely factor is the increase in DEX volume recorded this week. Blockchain analysis platform DefiLlama revealed in a report earlier in the week that Solana had experienced a spike in DEX volume. According to the report, SOLs DEX volume surged by over 80% and is ranked fifth within the crypto market. This development is likely to have boosted its price action in the past week. 

Nonetheless, the Total Value Locked (TVL) has not reacted to this uptrend and has been stagnant since its decline last November following the FTX collapse. Currently, the TVL sits at around $275 million with no noticeable increase in value despite the gains of SOL in recent days. 

Solana (SOL) Price Outlook And Prediction 

SOL is currently trending upward and has continued its positive price action towards the weekend. However, the intermittent red candles on its weekly chart show that the bears are active this week. 

Looking at the technical indicators, its relative strength index is at 50 in the neutral zone between the oversold region of 35 and the overbought region of 75. The Moving Average Convergence/Divergence (MACD) is currently in the buy zone which is a bullish signal. In addition, the histogram bars are green and signal that a bullish trend is ahead and if the bulls persist, SOL is likely to have a sustained uptrend in the coming days. 

BONE, the governance token of Shiba Inu, has experienced a significant uptick in the past week with its price surging by double digits during this period. At the time of writing, BONE has seen an increase of 0.5% in the past 24 hours reaching $1.20. Additionally, the token has witnessed a weekly rise of more than 40% making it the best performer among the top 100 tokens. 

This spike holds major significance as BONE has managed to be bullish despite the recent market sell-off, which has left the crypto market in a bearish state. The recent growth of BONE could be attributed to the statement of Shitoshi Kusama, the lead developer of Shiba Inu. 

Kusama Provides Tentative Date For Shibarium Launch 

Kusama had earlier in the week disclosed a potential date for the launch of Shibarium, the highly anticipated Layer-2 blockchain that would power the Shiba Inu ecosystem. According to a blog post on July 6, Kusama stated that the mainnet launch of Shibarium could be discussed and unveiled at the Blockchain Futurists Conference scheduled to take place in Toronto in August. 

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Kusama further defined the role of the multiple token systems that would be supported by Shibarium. According to him, the Shiba Inu ecosystem would be divided into four sections with each section utilizing a unique token. SHIB would be used to govern the community, while BONE governs and support community technology (such as Shibarium gas fees), LEASH would cater to community security and provides exclusivity, and TREAT moderates and enhances community projects. 

Following this disclosure, the price of BONE experienced a major uptrend due to the positive sentiments from the community. BONEs unique role in relation to Shibarium gas fees makes it a vital token within the Shiba Inu ecosystem. 

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Shibarium is also seen as a significant development and has attracted the attention of many within the crypto community. Since its launch on March 11, PuppyNet, the testnet for Shibarium has displayed remarkable activities. The testnet has witnessed more than 27.5 million transactions fr...