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XRP Reclaims Crucial Price Support: Can Bulls Hold the Line?

by admin



In brief

  • XRP surged above $3 today after weeks of sideways actions and bearish sentiment.
  • Prediction market users on Myriad say there’s a 55% chance XRP hits $4 before dumping back to $2.
  • The charts suggest caution. Here’s why.

After weeks of sideways chop, XRP—the cryptocurrency created by the founders of Ripple—is making another run at the ever important $3.00 per coin mark.

XRP is up 4% today trading just above $3.00, climbing more than 9% over the last 30 days. It’s enough to claim a top 3 spot in the crypto market, with a market cap above $182 billion.

The move comes as the broader crypto market shows signs of life, with Bitcoin holding steady above $110,000—just above $120K right now—and institutional interest in XRP derivatives reaching new highs with CME’s upcoming 24/7 futures launch.

So are the good times back again for the XRP Army as we march into ‘Uptober’?

On Myriad, a prediction market built by Decrypt’s parent company Dastan, traders are leaning slightly bullish on the Ripple-linked token at the moment. Traders have set the line at 55% that XRP sooner pumps to $4 than dives all the way back down to $2. Those odds have completely flipped relative to where they were just last week, when traders had placed a 56% chance of XRP plummeting.



In other words, the market now appears to see stronger potential for upside on XRP but Myriad traders aren’t yet willing to bet the farm on it. What do the charts have to say about it?

XRP price: Mixed signals beneath the surface

Today’s candlestick shows XRP climbing from an opening price of $2.9485 to test intraday highs of $3.0599—a 3.8% spike from the daily low of $2.9424. This is basically a continuation of a price bounce that started on September 26 when XRP was trading at around $2.70.

While the price action looks encouraging on the surface, a deeper dive into the technicals reveals a more nuanced picture that should give bulls pause before declaring victory.

The charts reveal XRP trapped in a horizontal channel following a descending triangle pattern that was in place since the July highs near $3.80. Today’s move brings the token right to the upper boundary of this channel, creating a critical inflection point that could determine the next major move.

XRP price data. Image: Tradingview

The Average Directional Index, or ADX, for XRP sits at a concerning 14, well below the 25 threshold that confirms trend strength. ADX measures trend strength regardless of direction, with scores above 25 signalling to traders that an actual trend is in place.

This weak reading for XRP suggests the market lacks conviction despite today’s gains—traders typically view ADX below 20 as a sign of directionless, choppy price action where false breakouts are common. Think of it as a car engine running but not in gear; there’s energy but no clear direction.

Meanwhile, the exponential moving averages tell a more optimistic story. Exponential moving averages, or EMAs, give traders an idea of where the price supports and resistances are based on average prices over the short, medium, and longer term.

The 50-day EMA for XRP is hovering around the $3.00 zone, and that’s providing dynamic resistance that coincides perfectly with the psychological round number. This confluence creates a formidable barrier that bulls must decisively conquer. The good news? The 200-day EMA sits comfortably lower at around $2.70, offering a solid safety net well above the bearish threshold. When the 50-day EMA trades above the 200-day, as it does here, it typically signals the longer-term uptrend remains intact even if short-term momentum wavers.

Things are so trendless that both EMAs are running in parallel right now.

The Relative Strength Index, or RSI, is at 57, which places XRP in neutral territory—not overbought enough to trigger profit-taking, but not oversold enough to attract bargain hunters.

All things considered, traders would largely consider this to be an obvious compression scenario. Some may opt to do small trades with supports and resistances acting as triggers for stop loss and take-profit orders, so that this “boring” phrase can be somewhat profitable.

The Squeeze Momentum Indicator showing “on” status would also support this thesis. Combined with all the other neural indicators, this could suggest we’re approaching a decisive moment—but the weak ADX warns the breakout attempt could fail.

To 3 or not to 3, that is the question

Here’s the reality check: $3.00 might be asking too much from XRP right now based on current conditions. The convergence of the 50-day EMA with this psychological level creates a double whammy of resistance that’s proven stubborn in recent attempts. If the coin continues trading sideways, this barrier could hold firm, potentially sending XRP slightly lower to test support.

However, experienced traders would likely avoid opening overly leveraged positions that trigger liquidation near this priceline. This support is weak, and the coin may trade below it without turning bearish in the short term.

The silver lining? The $2.70 zone offers much more solid footing. Not only does this level sit comfortably above the 200-day EMA (maintaining the bullish structure), but it also aligns with previous consolidation areas that have acted as springboards for rallies. This means even if bulls can’t hold $3.00, the correction should find buyers before turning truly bearish.

XRP’s 3% pop today is likely encouraging for bulls, but the technical picture suggests a more cautious approach may be prudent. The ADX at 14 shows this isn’t a trending market yet so neither bulls nor bears have control. The Squeeze indicator warns a big move is coming, but weak momentum metrics suggest it might not be the bullish breakout holders are hoping for.

Smart money should watch for a few daily closes above $3.10 with rising ADX as confirmation of a legitimate breakout. Otherwise, expect more sideways grind with $2.70 as the line in the sand bulls must defend.

Key levels to watch:

  • Resistance: $3.06 (immediate), $3.14 (channel top), $3.31 (breakout target)
  • Support: $2.95 (EMA50), $2.70 (strong support), $2.60 (200-EMA zone)

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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What Shutdown? Bitcoin Bulls Head Toward $118,000
Crypto Trends

What Shutdown? Bitcoin Bulls Head Toward $118,000

by admin



Key points:

  • Bitcoin is trying to break $118,000 for the first time since mid-August.

  • US labor market weakness drives crypto and risk assets higher despite the US government shutdown.

  • Any dips are “buy opportunities,” BTC price analysis says.

Bitcoin (BTC) sought six-week highs after Wednesday’s Wall Street open as markets shrugged off the US government shutdown.

BTC/USD four-hour chart. Source: Cointelegraph/TradingView

Bitcoin starts October with range breakout attempt

Data from Cointelegraph Markets Pro and TradingView showed that BTC/USD reached $117,713 following weak US jobs data.

The pair came within $150 of beating its September maximum — doing so would lead it to its highest levels since Aug. 17.

“Bitcoin is trying to breakout from its Monthly Range already on the first day of the new month of October,” popular trader and analyst Rekt Capital summarized in his latest commentary on X.

BTC/USD one-month chart. Source: Rekt Capital/X

US private-sector employment numbers came in significantly below expectations, turning negative when estimates had projected a gain of 45,000 jobs for September.

Labor market weakness is considered a tailwind for crypto as it heightens the odds of interest-rate cuts and thus increased capital inflows.

The latest data from CME Group’s FedWatch Tool showed that markets were overwhelmingly betting on the Federal Reserve cutting rates by 0.25% at its October meeting.

Fed target rate probabilities for October FOMC meeting (screenshot). Source: CME Group

Continuing, fellow trader Jelle described BTC price action as “pushing through the resistance like it isn’t even there.”

“One last thing to ‘worry’ about: a sweep of the September highs. Clear those, and the bears will have very little leg to stand on. Higher,” he told X followers.

BTC/USD chart. Source: Jelle/X

Others focused on potential support retests, with trading account Daan Crypto Trades flagging $112,000 as “key short-term support.”

“Ideally don’t want to see price re-visit that,” he wrote alongside a chart showing a channel that price was attempting to break through. 

“Up to the bulls to take it from here, a proper breakout & some daily closes above the channel would signal this is ready for a move to new highs to me.”BTC/USD one-day chart. Source: Daan Crypto Trades/X

The new US government shutdown, meanwhile, failed to impact the buoyant mood across risk assets.

Related: BTC price due for $108K ping pong: 5 things to know in Bitcoin this week

Both the S&P 500 and Nasdaq Composite Index opened modestly higher, while gold consolidated after hitting its latest new all-time highs earlier in the day.

Commenting, trading company QCP Capital stated that the shutdown should be of little importance.

“On fiscal theatre, a U.S. government shutdown should be a market non-event beyond data delays and headline noise,” it argued in its latest “Asia Color” research post. 

“Essential services continue, back-pay limits income effects, and past episodes have not derailed risk assets.”BTC/USD vs. S&P 500 one-day chart. Source: Cointelegraph/TradingView

QCP noted that during the 2018 shutdown, the S&P 500 ended 10% higher.

“Given BTC’s elevated beta to equities, we see shutdown-related dips as buy opportunities rather than chasing gap-ups,” it concluded.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.



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Cryptos Steady as Rate Cuts Sentiment Lingers Ahead of Jobs Report
Crypto Trends

Bulls Bet on Fed Rate Cuts To Drive Bond Yields Lower, But There’s a Catch

by admin



On Sept. 17, the U.S. Federal Reserve (Fed) is widely expected to cut interest rates by 25 basis points, lowering the benchmark range to 4.00%-4.25%. This move will likely be followed by more easing in the coming months, taking the rates down to around 3% within the next 12 months. The fed funds futures market is discounting a drop in the fed funds rate to less than 3% by the end of 2026.

Bitcoin BTC$115,729.93 bulls are optimistic that the anticipated easing will push Treasury yields sharply lower, thereby encouraging increased risk-taking across both the economy and financial markets. However, the dynamics are more complex and could lead to outcomes that differ significantly from what is anticipated.

While the expected Fed rate cuts could weigh on the two-year Treasury yield, those at the long end of the curve may remain elevated due to fiscal concerns and sticky inflation.

Debt supply

The U.S. government is expected to increase the issuance of Treasury bills (short-term instruments) and eventually longer-duration Treasury notes to finance the Trump administration’s recently approved package of extended tax cuts and increased defense spending. According to the Congressional Budget Office, these policies are likely to add over $2.4 trillion to primary deficits over ten years, while Increasing debt by nearly $3 trillion, or roughly $5 trillion if made permanent.

The increased supply of debt will likely weigh on bond prices and lift yields. (bond prices and yields move in the opposite direction).

“The U.S. Treasury’s eventual move to issue more notes and bonds will pressure longer-term yields higher,” analysts at T. Rowe Price, a global investment management firm, said in a recent report.

Fiscal concerns have already permeated the longer-duration Treasury notes, where investors are demanding higher yields to lend money to the government for 10 years or more, known as the term premium.

The ongoing steepening of the yield curve – which is reflected in the widening spread between 10- and 2-year yields, as well as 30- and 5-year yields and driven primarily by the relative resilience of long-term rates – also signals increasing concerns about fiscal policy.

Kathy Jones, managing director and chief income strategist at the Schwab Center for Financial Research, voiced a similar opinion this month, noting that “investors are demanding a higher yield for long-term Treasuries to compensate for the risk of inflation and/or depreciation of the dollar as a consequence of high debt levels.”

These concerns could keep long-term bond yields from falling much, Jones added.

Stubborn inflation

Since the Fed began cutting rates last September, the U.S. labor market has shown signs of significant weakening, bolstering expectations for a quicker pace of Fed rate cuts and a decline in Treasury yields. However, inflation has recently edged higher, complicating that outlook.

When the Fed cut rates in September last year, the year-on-year inflation rate was 2.4%. Last month, it stood at 2.9%, the highest since January’s 3% reading. In other words, inflation has regained momentum, weakening the case for faster Fed rate cuts and a drop in Treasury yields.

Easing priced in?

Yields have already come under pressure, likely reflecting the market’s anticipation of Federal Reserve rate cuts.

The 10-year yield slipped to 4% last week, hitting the lowest since April 8, according to data source TradingView. The benchmark yield has dropped over 60 basis points from its May high of 4.62%.

According to Padhraic Garvey, CFA, regional head of research, Americas at ING, the drop to 4% is likely an overshoot to the downside.

“We can see the 10yr Treasury yield targeting still lower as an attack on 4% is successful. But that’s likely an overshoot to the downside. Higher inflation prints in the coming months will likely cause long-end yields some issues, requiring a significant adjustment,” Garvey said in a note to clients last week.

Perhaps rate cuts have been priced in, and yields could bounce back hard following the Sept. 17 move, in a repeat of the 2024 pattern. The dollar index suggests the same, as noted early this week.

Lesson from 2024

The 10-year yield fell by over 100 basis points to 3.60% in roughly five months leading up to the September 2024 rate cut.

The central bank delivered additional rate cuts in November and December. Yet, the 10-year yield bottomed out with the September move and rose to 4.57% by year-end, eventually reaching a high of 4.80% in January of this year.

According to ING, the upswing in yields following the easing was driven by economic resilience, sticky inflation, and fiscal concerns.

As of today, while the economy has weakened, inflation and fiscal concerns have worsened as discussed earlier, which means the 2024 pattern could repeat itself.

What it means for BTC?

While BTC rallied from $70,000 to over $100,000 between October and December 2024 despite rising long-term yields, this surge was primarily fueled by optimism around pro-crypto regulatory policies under President Trump and growing corporate adoption of BTC and other tokens.

However, these supporting narratives have significantly weakened looking back a year later. Consequently, the possibility of a potential hardening of yields in the coming months weighing over bitcoin cannot be dismissed.

Read: Here Are the 3 Things That Could Spoil Bitcoin’s Rally Towards $120K



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Kospi's Record High Puts BTC Bulls on Notice: Analyst
Crypto Trends

Kospi’s Record High Puts BTC Bulls on Notice: Analyst

by admin



South Korea’s benchmark equity index, the Kospi, has reached a record high of 4,340 points, driven by prospects of shareholder-friendly policies and positive global market sentiment.

The new high has prompted one analyst to urge caution among bitcoin BTC$108,783.53 bulls, suggesting that the surging Kospi could mark the end of the BTC bull run, consistent with the historical relation between the two assets.

“Every time the Kospi has set a new record high, Bitcoin was trading close to its all-time high of the cycle. The last time this happened was back in 2021,” crypto analytics platform Alphractal said on X.

BTC and Kospi peaked concurrently in late 2017 and 2021. Kospi and BTC price charts. (TradingView/CoinDesk)

The chart indicates that the Kospi reached its peak in the second half of 2021. BTC also peaked closer to $70,000 in November that year, eventually falling into a year-long bear market.

A similar pattern emerged in late 2017, with concurrent peaks in the two assets. Also note the concurrent interim tops around June and July 2011.

Incremental signal

The pattern, though limited to support definitive conclusions, warrants attention, as it underscores the shared sensitivity of Kospi and BTC to global risk-on/risk-off flows and shifts in investor risk appetite and macroeconomic conditions.

When risk sentiment is positive, capital flows into emerging market equities, such as the Kospi, which is heavily export-oriented and influenced by global trade dynamics, as well as into riskier assets like bitcoin.

Conversely, during periods of heightened uncertainty or risk aversion, both tend to decline together. This close relationship highlights how Bitcoin, despite its unique characteristics as a digital asset, is becoming increasingly intertwined with broader financial markets and subject to similar economic forces.

“Now that the Kospi has reached a new all-time high, it serves as yet another incremental signal that the bitcoin cycle may be nearing its conclusion. Smart money flows continuously between major economies, stores of value, risk assets, and—sometimes—extremely speculative instruments, like memecoins, often without fundamentals,” Joao Wedson, founder and CEO of Alphractal, said.

Read more: Dogecoin Leads Gain, Bitcoin Pops to $114K as M2 Setup Opens BTC Catchup Trade



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Shiba Inu (SHIB): Ready to Fade Into Oblivion? XRP: Final Stand, Cardano (ADA) Bulls: Price Collapse Is One Move Away
NFT Gaming

Shiba Inu (SHIB): Ready to Fade Into Oblivion? XRP: Final Stand, Cardano (ADA) Bulls: Price Collapse Is One Move Away

by admin


The market is on the verge of exiting the consolidation stage, with Shiba Inu, XRP and Cardano being on verge of their local formations that should boost volatility and push either asset into their next stage.

Shiba Inu at crossroads

With price action indicating the possibility of a significant breakdown, Shiba Inu is at a crucial crossroads. The token is stuck inside a narrowing triangle and is currently trading at about $0.0000123, but the overall structure is bearish.

Due to buyers’ inability to maintain momentum above resistance levels, each bounce has been weaker than the last. The consistent drop in trading volume is the most concerning indication. Volume has been declining since early August, which suggests that traders’ interest and involvement are waning.

SHIB/USDT Chart by TradingView

Declining volume during consolidation frequently precedes strong breakouts in cryptocurrency markets, however, since SHIB is already under pressure, the likelihood of a breakdown rather than a recovery is higher.

Technically speaking, SHIB will encounter resistance right away in the range of $0.0000130-$0.0000132, and then the 200-day moving average close to $0.0000139. Every upward attempt has been capped for weeks at these levels. Support for the downside is located just above $0.0000120. The next target might be $0.0000110 or even $0.0000100, a level that runs the risk of adding another zero to SHIB’s valuation if it significantly breaks below this.

Additionally, a classic indicator of deteriorating market structure, the descending trendline from the recent highs, is still forcing lower peaks. Bearish momentum will probably prevail unless SHIB can break out above that line with significant volume. That is, there is a genuine chance of oblivion.

In addition to possibly correcting further, SHIB runs the risk of becoming irrelevant for traders seeking stronger momentum plays if support gives way while volume keeps declining.

XRP’s last test

It appears that XRP is nearing a final stand at its current price. The token is currently trading at about $2.83, just above the 100-day EMA at $2.77, which serves as the crucial line of defense. If XRP is unable to maintain this zone, it may fall toward $2.50 and ultimately the psychological $2.00 level.

The symmetrical triangle pattern that had been supporting the price since mid-August is clearly broken in the chart. XRP was forced below the lower trendline by sellers, and although it has stabilized for the time being, momentum is still brittle. A clear close below $2.77 would validate the bearish trend.

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The pattern in the volume adds to the uncertainty. The steady decline in trading volume is frequently an indication that sellers are worn out, and that bearish pressure is abating. However, low volume can also indicate fund outflows and disinterest, making XRP more susceptible to steeper drops when liquidity evaporates.

XRP has some breathing room for a recovery, as the RSI, which is currently hovering around 44 and reflecting neutral-to-weak momentum, does not yet exhibit any bullish divergence. Regaining $2.95-$3.00 is crucial for bulls. Strength would only be indicated by a persistent return above $3.00, which would pave the way for $3.10-$3.20.

XRP might still bounce back and reenter a consolidation range if support remains at the 100-day EMA. But if it fails, sentiment quickly shifts against it, making the path to $2.00 much more likely. This is a make-or-break situation for XRP investors for the time being.

Cardano’s patience

Cardano is putting its holders’ patience to the test once more. After weeks of losing momentum, the token is currently trading at a pivotal level, with bulls finding it difficult to maintain control. According to the short-term technical picture, the 100-day EMA and the crucial $0.80 support zone are both in the vicinity of ADA.

There is still hope for a recovery in ADA despite the negative undertones. The $0.80 area has previously shown itself to be resilient, serving as a base for several recoveries. Buyers can continue on their current trajectory toward $0.90 and $1.00 if they can defend this level once more.

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A psychological shift would be signaled by a breakout above $1, which might draw momentum traders and investors who had been sidelined back into the market.

However, volume trends are not very promising. Everyday trading activity has decreased, indicating a general decline in enthusiasm. This makes ADA susceptible because, when markets turn risk-off, a lack of conviction can hasten downward pressure. However, these quiet periods frequently come before explosive moves, so the next sessions are very important.

The indecision is highlighted by the RSI, close to 48, which is in neutral territory and does not indicate oversold or overbought conditions. This implies that ADA has some leeway.

In general, the market is struggling, as there isn’t much of bearish support coming in and the majority of investors are bracing themselves for multiple breakdowns, especially if Bitcoin fails to deliver in the next few weeks.



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'Never Sell' Bitcoin Bulls Hypying Up 'Uptober.' Are Stats on Their Side?
Crypto Trends

‘Never Sell’ Bitcoin Bulls Hypying Up ‘Uptober.’ Are Stats on Their Side?

by admin


Some cryptocurrency bulls are seemingly determined not to sell their holdings before “Uptober.”

They remain optimistic about Bitcoin’s Q4 performance, urging investors not to overcomplicate seasonality. 

Does “Uptober” live up to its name?

The term “Uptober,” which is obviously a mix of “up” and “October,” was initially popularized on cryptocurrency Twitter. 

Based on historical data, October has been one of the most successful months for Bitcoin due to the consistency of positive returns. 

Does the data back up the enthusiasm of Bitcoin bulls? Absolutely. Since 2013, there were only two months when Bitcoin ended October in the red (2014 and 2018). Back in 2014, the cryptocurrency was down 13% amid a brutal bear market triggered by the collapse of the Mt. Gox exchange and regulatory scrutiny. In October 2018, Bitcoin was down 3%, remaining in the middle of another market capitulation that came after the ICO-driven euphoria of late 2017. 

The rest of the months were firmly in the green. In 2013, for instance, Bitcoin rallied by as much as 61% in October when the cryptocurrency began attracting more mainstream interest. 

In 2021, Bitcoin also surged by a whopping 40% in October due to the hype surrounding the approval of the first futures-based BTC ETFs in the US. These products came years before spot ETFs. 



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$557 Million in Ethereum Bought in Minutes as Bulls Show Up
NFT Gaming

$557 Million in Ethereum Bought in Minutes as Bulls Show Up

by admin


Although Ethereum has seen its price plunge deeper beyond key resistance levels, on-chain activities suggest bulls are not gone. 

According to data shared by Cryptoquant analyst Maartunn, the second-largest cryptocurrency by market capitalization has witnessed a significant increase in taker buy volume across all exchanges, with over half a billion worth of ETH purchased in minutes.

The data reveals that the leading altcoin recorded a massive $557 million in buy volume in less than an hour as of August 29 despite major price setbacks witnessed on the day. Considering the timing of the massive Ethereum accumulation spree, it appears that the bulls have decided to buy the dip on Ethereum as efforts to maximize gains.

What’s next for ETH?

With the massive buying activity coinciding with the broad crypto market bloodbath, Ethereum has failed to respond with a positive price move as its price continues to plunge lower. Hence, market participants are keeping a close eye on Ethereum on-chain movements as market uncertainty looms.

Although the notable increase in Ethereum’s taker buy volume hints at heightening dip-buying interest among Ethereum investors, the move has raised optimism about a potential price rebound for the asset.

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After holding strong above $4,700 and moving towards the much-anticipated $5,000 a few days ago, momentum is increasingly fading as traders continue to cautiously reposition their assets. As such, the asset has fallen as low as $4,272 on August 29. Showing a notable price decrease of 3.44% over the last day, data from CoinMarketCap shows that it is trading steadily at $4,340 as of press time.

Source: CoinMarketCap

With major moves like the massive buying spree recorded today reflecting, market participants have raised concerns as to whether the notable demand for Ethereum could outweigh pressures from the short-term price trends. While voluminous ETH outflows from whales, including BlackRock, have also been spotted consistently during the day, it appears that large holders are also hedging against volatility while moving tokens into custody.

Nonetheless, the token moving towards $4,400 in the last hours has seen analysts predict that a sustained bounce above $4,400 will be critical to confirm whether these massive buying activities could push the asset and possibly the broad crypto market to a recovery phase.



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3,276.05% Solana Liquidation Imbalance Bulls Out Amid Crypto Bloodbath
Crypto Trends

3,276.05% Solana Liquidation Imbalance Bulls Out Amid Crypto Bloodbath

by admin


  • Solana bulls lose $6.77 million
  • SOL breakout still possible?

The crypto market is facing high price volatilities, and traders betting longs in major altcoins have been aggressively wiped out. Solana (SOL) traders have been mostly affected by this trend, as data from Coinglass reveals massive one-sided liquidation on SOL in the last hour.

The negative price trend has extended to the Solana derivatives market, with traders opening long positions on the sixth-largest cryptocurrency by market capitalization suffering massive losses.

Solana bulls lose $6.77 million

Notably, the data shows that Solana traders betting on the asset’s potential surge have been liquidated by a massive $6.77 million in minutes, compared to just $200,530 liquidated in shorts.

Notably, Solana saw its 1-hour liquidation trend put traders in a total loss of $6.97 million, suffered majorly by traders betting on the bullish side, thereby resulting in a massive 3,276.05% liquidation imbalance. This highlights significant bias in investor sentiments as market uncertainty continues to linger amid the prolonged crypto market bloodbath.

Source: Coinglass

While recent price movements from leading cryptocurrencies including ETH, XRP, SOL, etc. have seen the derivatives market favor bear traders as bulls continue to get massively wiped out, it is usually observed that voluminous one-sided positions like this can leave the concerned cryptocurrency vulnerable to sudden liquidation reversals if prices move against the majority. Hence, the liquidation trend might flip against the short positions in the next minutes, causing them to suffer higher losses.

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However, traders have formed the habit of watching the market closely in situations like this to see if the aggressive liquidation imbalance could set the stage for more volatility or if there could be a reversal in market sentiments.

SOL breakout still possible?

While SOL has joined the negative price trend witnessed across the broad crypto market, with its price declining lower beyond key resistance zones, it appears that Solana has retained optimism from traders as speculations suggest a rebound may be near.

Amid the growing institutional interest spurred by the potential launch of the Solana ETF and ecosystem development witnessed in the Solana ecosystem, analysts have predicted that SOL could still break out to a massive $350 in 2025 despite hitting a low of $201.55 on August 29.

While investors are bullish on SOL’s price potential in the long term, it is not certain if the current price correction will wrap up anytime soon. Hence, traders are cautiously betting on the asset to hedge against sudden losses.



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DOGE price prediction: Can bulls push toward $0.25, or will $0.20 crack first?
NFT Gaming

Can bulls push toward $0.25, or will $0.20 crack first?

by admin



DOGE price prediction analysis is once again in the spotlight as the meme-coin king flirts with key support and resistance levels. Currently, Dogecoin (DOGE) is trading around $0.22–$0.23, down about 2–3% over the past day.

The technical structure—a possible triangle breakdown—suggests we may see heightened volatility soon. The market is torn: will Dogecoin rebound or continue its descent?

Summary

  • Dogecoin’s current range is $0.22–$0.23, with resistance close to $0.225–$0.23 and support at $0.20–$0.21.
  • Catalysts: A $200 million whale transfer to Binance caused selling, although some accumulation is still going on; network data indicates open interest and waning activity.
  • Potential for growth: Some analysts see a longer-term push toward $0.45–$0.50, while a breakout over $0.225–$0.23 might reach $0.24–$0.25.
  • Downside risk: If the $0.21 support is broken, DOGE may drop below $0.20 or the mid-0.19s, maintaining the negative trend.

Current DOGE price scenario

DOGE 1d chart, Source: crypto.news

DOGE is currently consolidating between $0.22 and $0.23. Strong support is located between $0.20 and $0.21, while resistance is located between $0.225 and $0.23.

A $200 million whale transfer to Binance earlier this week served as a significant catalyst, causing selling and bringing DOGE down from about $0.25 to its present level. However, some addresses that have conflicting intentions are still being collected.

Also, network activity indicates that momentum is waning: on-chain activity and open interest have been declining, which highlights persistent negative pressure.

Upside outlook

Bulls still have possibilities even in the face of temporary weakness. DOGE is likely to climb toward $0.24–$0.25 in the near future if it can recover above the $0.225–$0.23 resistance zone. Triangles, cup-and-handle configurations, and rounding bottoms are examples of technical setups that suggest possible continuation if momentum picks up.

With upside objectives between $0.45 and $0.50—more than 100% above current levels—some analysts are still hopeful that DOGE may potentially make a far bigger gain if there is continuous positive momentum.

$DOGE

DOGE hasn’t been able to get any significant movement off the low since our last update (threaded)

As of now I’m leaning towards a macro degree triangle (blue)

Since our macro degree wave 2 was sharp we would expect a sideways style correction

That said, we have been… pic.twitter.com/VIXxInIhzW

— Hov (@HovWaves) August 26, 2025

Downside outlook

However, the bearish argument is still compelling. The coin might drop down to $0.20 or even into the mid-0.19s if DOGE is unable to maintain the $0.21 support.

Additional whale selling, combined with ongoing de-risking in larger markets, may hasten this collapse. The bearish prospect is further supported by weak sentiment, sluggish trading activity, and diminishing open interest.

Recent news: on-chain metrics show whales accumulating while retail pulls back

New on-chain data shows a complex tug-of-war on the Dogecoin chain: despite a drop in retail activity, whales are aggressively collecting. Despite the price adjustment, major holders took 680 million DOGE into cold storage throughout August, indicating long-term trust.

A dramatic V-shaped recovery from the $0.21 support zone, fueled by late-session volume spikes and institutional-sized inflows, occurred at the same time as this accumulation.

In the meantime, futures open interest weakened and daily active addresses fell 96% from their July highs, suggesting a decline in retail activity and speculative exposure.

Some significant DOGE transfers from Binance to private wallets, including one noteworthy 32.9 million DOGE withdrawal, added to the bullish bias and suggested accumulating at discount levels.

DOGE price prediction based on current levels

DOGE HTF support and resistance levels, Source: Tradingview

When examining longer-term Dogecoin price predictions, the meme coin is still trapped in a neutral consolidation zone that spans $0.20 to $0.22.

The bullish argument for $0.24–$0.25, with possible extensions up to $0.45–$0.50 if momentum sustains, would be strengthened by a clear breakout over $0.225–$0.23. On the other hand, the coin would be vulnerable to $0.20 and perhaps the mid-0.19s if it broke below $0.21.

All things considered, Dogecoin’s future is still quite unpredictable and sentiment-driven. Technical levels at $0.21 support and $0.23 resistance define the next major move, while whale movements and fluctuating open interest continue to impact short-term price swings.

As of right now, DOGE is at a turning point; the course of the meme-coin in the upcoming weeks will probably depend on which side of this narrow band breaks first.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.





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ETH Bulls Eyeing $5K as Flows Strengthen

by admin



Good Morning, Asia. Here’s what’s making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.

ETH’s chances of hitting $5,000 this month climbed to 26% on Polymarket, up from 16% just a few days ago, as traders priced in momentum from institutional accumulation and shifting BTC-ETH flows.

(Polymarket)

“Ethereum’s recent strength is mainly showcased by the level of flows into it, where a major liquidity floor has been built by institutions,” said March Zheng, General Partner at Bizantine Capital in a note to CoinDesk.

He added that the ETH/BTC ratio had been sitting at a localized low, making a rebound overdue, and that this cycle is supported by stronger fundamentals such as global stablecoin adoption and clearer regulation.

Market rotation added further color to the rally, Enflux, a market maker, wrote to CoinDesk in a note. XRP joined ETH in leading the majors, while capital chased new narratives, such as CRO, following Trump Media’s “Cronos Treasury” initiative.

Hyperliquid’s surge in trading volume, surpassing Robinhood in July, highlighted how retail speculation is tilting toward native infrastructure, with its $HYPE token gaining double digits. These undercurrents suggest that what matters most is not the day’s closing print but the structural reallocation of liquidity across the crypto landscape, Enflux noted.

Liquidity is being redistributed across the crypto landscape, market observers say, but ETH’s role at the center is reinforced by institutional conviction.

“Markets react to headlines, but longer-term value is driven by fundamentals,” Gracie Lin, CEO of OKX Singapore, told CoinDesk in a note.

“This is why Ethereum continues to show strength through real utility — even as prices pull back, big institutional moves like BitMine’s ETH accumulation prove there’s deep conviction in its role at the core of crypto,” Lin continued. “With new macro data like the US PCE coming in later this week, we’re about to see how that conviction holds up amidst volatility.”

ETH has outpaced BTC by a wide margin, gaining 20% over the past 30 days compared to bitcoin’s 6% decline, market data shows, and trading volumes show ETH commanding more liquidity than BTC despite its smaller market cap.

Market Movements

BTC: Bitcoin is trading at $111,733.63, but weak on-chain activity and $940M in liquidations signal fading momentum.

ETH: Ether is trading at $4,598.67, below its recent all-time high of $4,946, as institutional inflows power the rally while DeFi activity and TVL remain weaker than in past cycles.

Gold: Gold is trading at $3,410.80, holding above $3,400 as Powell’s rate-cut hints, Trump’s Fed shake-up, and record central bank buying fuel safe-haven demand with traders eyeing a run toward $3,500.

Nikkei 225: Asia-Pacific markets mostly fell Wednesday despite Wall Street’s overnight gains, with Japan’s Nikkei 225 down 0.17%.

S&P 500: The S&P 500 rose 0.41% to 6,465.94 on Tuesday as investors looked past Trump’s removal of Fed Governor Lisa Cook and awaited Nvidia’s earnings.

Elsewhere in Crypto:

  • Trump-backed World Liberty Token Could Decimate Retail Investors, Compass Point Warns (Decrypt)
  • U.S. CFTC, a Top Crypto Watchdog, Is About to Shrink Commission to Only One Member (CoinDesk)
  • Bitcoin Miner Hut 8 Surges 10% on 1.5GW Expansion Plans (CoinDesk)



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