Tag:

pattern

Jasmy price forms a risky pattern as whales offload
Crypto Trends

Jasmy price forms a risky pattern as whales offload

by admin



JasmyCoin, popularly known as Japan’s Bitcoin, is at risk of a bearish breakdown after forming a risky pattern, and as whales continue dumping.

JasmyCoin (JASMY) price was trading at $0.018 on Friday, up by 130% from its lowest level in April. This rebound has brought its market cap to $938 million. 

On-chain data by Santiment shows that JASMY whales have been on a selling spree this year, as it dropped by 68% from its highest point in December.

The supply held by whales has dropped to 26.58 billion, down from the year-to-date high of 28.45 billion. This means that these whales have offloaded almost 2 billion coins since February.

Whales have continued selling this month as its price jumped. They held 26.6 billion of the supply on May 1, which has slipped to 26.58 billion today. 

Crypto investors watch whale activity because these participants are seen as more sophisticated and experienced than retail traders. 

Jasmy on-chain data | Source: Santiment

Another red flag is that the volume of JASMY tokens on exchanges has started rising in the past few days. There were 15.9 billion coins on exchanges, up from 15.83 billion earlier this week.

Soaring exchange balances is risky because it is a sign that investors are moving their tokens from self-custody wallets to exchanges. This transfer typically happens when investors want to sell their coins. 

JasmyCoin exchange balances are rising | Source: Nansen

Started in 2016 by a team of ex-Sony employees, Jasmy is a popular cryptocurrency at the intersection of Internet of Things or IoT, blockchain, and data privacy. It offers a personal data locker, which enables users to store data from IoT devices. It also offers more decentralized data management features.

JASMY price technical analysis

Jasmy price chart | Source: crypto.news

The daily chart shows that JASMY price has bounced back in the past few weeks, moving from a low of $0.00825 in April to $0.018. It flipped the crucial resistance level at $0.01620, its lowest point on November 4, into a new support. 

However, Jasmy has found resistance at the 200-day Exponential Moving Average. It has also formed a rising wedge pattern, a common bearish reversal sign. This pattern is made up of two ascending and converging trendlines. The MACD indicator points to a bearish divergence.

Therefore, JasmyCoin price will likely have a bearish breakout in the coming weeks. If this happens, the next first target will be at $0.01620, followed by the psychological point at $0.0010.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Dogecoin
GameFi Guides

Dogecoin Makes Meaningful Correction: Key Pullback Pattern Points To Looming Rally

by admin


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Popular dog-themed meme coin, Dogecoin, may have witnessed a bearish performance in the last few days, but this waning price action could benefit its price dynamics. Technical developments show that the current pullback is a signal of an impending major rally in DOGE’s price.

Bullish Structure Forming On Dogecoin Chart

After a period of bullish performance, Dogecoin’s price experienced a retracement, which led to a correction or consolidation phase. However, recent analysis from Trader Tardigrade, a seasoned crypto analyst and investor, reveals that the correction phase is about to come to an end, and a rally is just around the corner.

In the analysis shared on the X platform, Trader Tardigrade stated that DOGE is gearing up for a major rise as a key technical pattern emerges on the daily chart, a typical sign of a possible uptrend. The meme-inspired cryptocurrency is currently consolidating within this key structure, often associated with trend continuation after cooling off from recent highs.

Specifically, the meme coin has formed a Channel Pullback. Combined with stable support levels and rising market sentiment, this channel formation raises the possibility that DOGE is preparing for a significant rise in the upcoming days.

Looking at the chart, this channel pullback previously appeared between late April and early May. Following a breakout from the pattern, Dogecoin saw a notable rise from $0.17 to $0.25 in less than a week. With the structure reappearing, the expert contends that a breakout, which he believes is inevitable, is likely to trigger a similar upward trend. 

A recurrence of a bullish pattern | Source: Trader Tardigrade on X

Should the breakout mirror the previous scenario, Trader Tardigrade has predicted a surge from current price levels to the $0.265 mark. DOGE’s reclaiming this level in tandem with significant buying pressure might act as a launchpad to a continued rally toward higher targets.

Dogecoin’s bullish signal extends beyond the 1-day chart. In another post, Trader Tardigrade highlighted a growing momentum in the 3-day time frame, which increases the potential for a rebound.

Following his examination of the 3-day chart, the expert found an Expanding Triangle formation, a key reversal pattern after a widening consolidation phase. Given that the market is slowly turning positive, a breakout from the pattern is expected to cause a rally to $0.275 and beyond.

A Remarkable Price Growth For DOGE Incoming

A view of a much larger time frame shows that DOGE’s price is headed for a new all-time high before the ongoing cycle concludes. Trader Tardigrade has underlined the recurrence of a bullish structure that triggered a massive bullish move for the meme coin on the 6-month time frame.

During the 2017 and 2021 cycles, this macro pattern kick-started DOGE’s final rally all the way to its peak in each cycle. While the structure has reemerged, Trader Tardigrade foresees a similar spike that could lead to a cycle top for Dogecoin. The expert chart reveals that the meme coin might reach a top from the $6 level and above.

DOGE trading at $0.22 on the 1D chart | Source: DOGEUSDT on Tradingview.com

Featured image from Getty Images, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



Source link

0 comments
0 FacebookTwitterPinterestEmail
CoinDesk Bot
NFT Gaming

Bearish Pattern Hints at Possible Drop Toward $2.00

by admin



Global economic uncertainties are weighing heavily on cryptocurrency markets, with XRP experiencing significant selling pressure after failing to maintain momentum above $2.40.

The digital asset has formed a bearish head-and-shoulders pattern on short-term charts, with high-volume selling emerging precisely when testing key resistance levels.

Multiple analysts, including Ali Martinez, warn that losing the critical $2.30 support could trigger a substantial decline toward the $2.00 mark.

Technical Analysis Highlights

  • XRP formed a distinct head-and-shoulders pattern after rallying to a peak of $2.411 before declining 3.38% to $2.330.
  • Significant resistance established at the $2.40 level with high-volume selling pressure.
  • Support at $2.345 was tested multiple times before breaking during the 13:00 hour with volume surging 23% above the 24-hour average.
  • Price declined from $2.341 to $2.329 in the last hour of trading, representing a 0.5% drop.
  • Significant volume spike occurred at 13:35 when price plummeted from $2.345 to $2.337, accompanied by over 2.1 million in volume.
  • Multiple failed attempts to recover above $2.340 between 13:38-13:41 created a lower high pattern.
  • Renewed selling pressure emerged at 13:47-13:50, driving XRP to session lows near $2.326 with elevated volume confirming distribution.

External References

  • “XRP flashes crash signal with drop to $2 in sight”, Finbold, published May 19, 2025.
  • “XRP (XRP) Price Prediction for May 20”, Coin Edition, published May 19, 2025.
  • “2 Critical Warnings for Ripple’s (XRP) Price: Details”, CryptoPotato, published May 19, 2025.
  • “XRP Price Confirms Bullish Reversal Setup With This Demand Zone”, NewsBTC, published May 20, 2025.



Source link

0 comments
0 FacebookTwitterPinterestEmail
AAVE rallies over 25% as a golden cross pattern nears
NFT Gaming

AAVE rallies over 25% as a golden cross pattern nears

by admin



AAVE rallied as much as 25% today, fueled by growing optimism across its ecosystem and a spike in trading activity.

Aave (AAVE) soared to an intraday high of $269 on May 20 afternoon Asian time, marking its highest level since February and making it one of the top-performing cryptocurrencies in the market right now. From its April low, AAVE has now climbed more than 132%.

The surge came alongside a spike in trading volume. According to data from crypto.news, over $800 million worth of AAVE changed hands today, its most active day since early March.

Meanwhile, AAVE’s futures open interest hit an all-time high of $569 million, reflecting strong demand from derivatives traders. Its positive funding rate for two straight weeks also suggests the majority of the market is still betting on more upside, with long traders currently paying short traders.

Traders appeared to welcome progress on the GENIUS Act, which recently cleared a key procedural vote in the U.S. Senate. The bill proposes a regulatory framework for stablecoins, an area critical to DeFi protocols like Aave.

Given Aave’s reliance on stablecoins like USDC, DAI, and its native GHO, the prospect of regulatory clarity could encourage more institutional participation and bolster confidence across its ecosystem.

AAVE also got a boost from solidifying its lead as the top DeFi protocol by TVL. According to DeFiLlama, its total value locked jumped nearly 40% in the past month to reach $40.7 billion, far surpassing Lido, which has $23.3 billion.

This growth is translating into real revenue. AAVE has raked in over $250 million in fees year-to-date, putting it among the most profitable protocols in the space.

Momentum on the technical front is also being matched by a rise in daily active addresses, which have spiked 57% over the past two days.

Source: Santiment

At the same time, its weighted social sentiment has also flipped positive, a sign that market participants are growing bullish on AAVE’s short-term outlook.

Potential golden cross in development

On the 1-day/USDT chart, the Aroon Up indicator is at 100% while Aroon Down sits at 0%, meaning bullish momentum is dominant. The Chaikin Money Flow Index is reading 0.26, which signals more capital flowing into the token.

AAVE price, Aroon and CMF chart — May 20 | Source: crypto.news

A golden cross also looks imminent on the daily chart, as AAVE’s 50-day and 200-day moving averages inch closer to a crossover, often considered a bullish signal.

AAVE 50-day and 200-day EMA chart — May 20 | Source: crypto.news

The token is nearing the 61.8% Fibonacci retracement level at $271.35. A clean breakout above this level could pave the way toward the 50% retracement level at $347.19, roughly 30% higher than current levels.

On the flip side, if a pullback happens, key support lies near $226.45, which could serve as a solid bounce zone before the uptrend resumes.

At press time, AAVE was trading around $267 per coin.

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



Source link

0 comments
0 FacebookTwitterPinterestEmail
Close