Tag:

rally

CoinDesk News Image
NFT Gaming

Chainlink’s Token Surges 8% in Bullish Breakout Rally

by admin



Oracle network Chainlink’s (LINK) native token showed remarkable strength during the Wednesday session as cryptocurrencies attempted to bounce back from yesterday’s carnage.

LINK topped $26, gaining 8.3% over the past 24 hours and erasing Tuesday’s losses. It vastly outperformed most large-cap cryptos, including bitcoin’s (BTC) modest 0.5% and ether’s (ETH) 4% rebound during the same period.

The crypto market benchmark CoinDesk 20 Index was up 1.5%.

The token’s relative strength underscores Chainlink’s improving appeal to crypto investors as a key piece of infrastructure connecting traditional markets with blockchain rails, benefiting from accelerating institutional adoption.

Sergey Nazarov, co-founder of Chainlink, said on Tuesday he met with U.S. Senator Tim Scott, Chairman of the Senate Banking Committee, leading the effort to bring the market structure bill to the Senate.

“This new version of the market structure bill has many advantages over past versions, enabling our industry to rapidly grow in the U.S. with fewer limitations,” Nazarov said in an X post.

The Chainlink Reserve, an initiative that channels revenue from protocol integrations and services to buy LINK tokens, mirroring public companies’ share buyback programs, also supports the token’s price.

The facility has accumulated 109,664 tokens worth roughly $2.8 million in two weeks and it’s poised to execute the next weekly purchase on Thursday, data shows.

Technical Analysis

LINK showcased exceptional price momentum throughout the 24-hour session, successfully breaking critical resistance zones on heightened trading volume before transitioning into a consolidation phase, according to CoinDesk’s Research’s technical analysis data.

  • Price surge of 8.30% from $23.96 to $25.93 during 24-hour period.
  • Strong support levels formed around $23.50-$23.60 zone.
  • Key resistance broken at $24.50 and $25.20 levels.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.



Source link

0 comments
0 FacebookTwitterPinterestEmail
CoinDesk News Image
GameFi Guides

Rally Cools on $850M Convertible Note Sale After Google Deal

by admin



TeraWulf’s (WULF) breakneck rally cooled on Tuesday as the firm increased its convertible note sale to $850 million and announced the pricing of the offering, aimed at funding its data center expansion.

The notes will mature in 2031 with 1% annual interest, and will be exchangeable into cash, stock or both at TeraWulf’s election, the company said in a Monday press release. Initial conversion price is set at $12.43 per share, representing a 32.5% premium to last week’s close.

Net proceeds are estimated at $828.7 million, and are earmarked for data center expansion with $85.5 million earmarked for capped call transactions designed to limit share dilution, the firm said. Buyers have a 13-day option to add another $150 million to the deal, which is expected to close this week.

WULF fell 5% below $9, pulling back from Monday’s $10.7 high after an almost 100% rally following a Thursday deal with AI cloud platform Fluidstack, which is backed by tech giant Google.

Under a 10-year hosting agreement, FluidStack will expand operations at TeraWulf’s Lake Mariner campus in New York, backed by Google’s $1.4 billion increase to its debt support for the project. Google now holds warrants representing a 14% equity stake in the company.

Read more: TeraWulf Adds Another 10% as Google Lifts Stake



Source link

0 comments
0 FacebookTwitterPinterestEmail
XRP price approaching critical support: a technical analysis deep dive
GameFi Guides

XRP price setting the stage for another bullish rally as $2.80 support holds

by admin



XRP price is maintaining its potential for another leg higher toward $3.60 and possibly $4.19, supported by a robust market structure and rising demand.

Summary

  • $2.80 remains the critical high timeframe support, aligned with the value area high.
  • Bullish market structure holds with higher highs and higher lows intact.
  • Strong bull volume inflows sustain momentum and point to further upside.

XRP has corrected into the $2.80 high-timeframe support zone, a critical level that has repeatedly acted as a strong demand base. Despite this retrace, the bullish structure remains intact with higher lows and strong volume inflows.

Key technical points

  • $2.80 High-Timeframe Support: Confluence of value area high and prior retests, confirming strong structural demand.
  • Bullish Structure Intact: Higher highs and higher lows remain in place despite intraday corrections.
  • Volume Profile Strength: Sustained buy-side inflows support the probability of a continued rally.

XRPUSDT (1D) Chart, Source: TradingView

XRP’s price action has retraced into the $2.80 support, a region that has been tested multiple times and continues to act as a foundation for bullish momentum. This level is aligned with the value area high, a region where volume has consistently built, signaling strong demand. Holding above this level is critical for XRP to preserve its bullish momentum and sustain its broader uptrend.

From a market structure perspective, XRP remains intact with consecutive higher highs and higher lows. The pullback to $2.80 has not damaged the larger trend, but rather reinforces it as a healthy retest. These retests of major supports confirm the presence of buyers and strengthen the probability of upward continuation. A strong defense of this zone will likely set up XRP for a fresh rally back toward its all-time high of $3.60.

In addition to structural integrity, Fibonacci levels add another layer of confluence. The $2.80 region coincides with the 0.618 retracement zone, a level often associated with strong bullish reversals. Historically, XRP has reacted positively at this level during bullish trends, increasing the likelihood of another expansion higher if bulls hold the line.

The volume profile further strengthens the bullish case. Data shows a steady influx of buy-side pressure, indicating market demand is still strong even during corrective phases. Such volume dynamics often precede larger impulsive moves, as accumulation periods resolve with expansions higher. A break back above $3.60, backed by strong volume, could accelerate XRP toward the $4.19 Fibonacci extension target.

What to expect in the coming price action

XRP remains bullish as long as the $2.80 support continues to hold. Multiple retests are healthy and signal demand. With strong volume inflows, XRP is well-positioned for a rally back toward $3.60 and potentially $4.19.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Dogecoin breaks out, Ripple targets $3, new DeFi coin raises about $1 million
Crypto Trends

Dogecoin correction holds support, setting stage for another bullish rally

by admin



Dogecoin has pulled back after testing $0.28 but is holding firm at $0.22 support. With Fibonacci, VWAP, and structure aligned, a continuation higher remains the dominant scenario.

Summary

  • Dogecoin finds strong support at $0.22 with 0.618 Fibonacci and VWAP confluence.
  • Bullish structure intact with higher highs and higher lows.
  • Sustained bullish volume supports rotation toward $0.32–$0.41.

Dogecoin (Doge) has faced a corrective move after hitting a recent high at $0.28. Despite this pullback, the structure remains bullish as price action finds stability at a strong support zone, suggesting momentum is far from exhausted.

Key technical points

  • Major Support at $0.22: Confluence of 0.618 Fibonacci and VWAP.
  • Resistance Levels: High timeframe targets at $0.32 and $0.41.
  • Volume Profile: Sustained increases indicate ongoing demand.

DOGEUSDT (1D) Chart, Source: TradingView

Dogecoin’s corrective move from the $0.28 high has not undermined its overall bullish structure. Instead, price has retested the $0.22 high time frame support, a region strengthened by confluence between the 0.618 Fibonacci level and the VWAP. This confluence forms a critical demand zone where buyers are stepping in, allowing price to stabilize before making another attempt toward higher resistances. Maintaining this region is essential for Dogecoin to remain bullish on the daily and weekly time frames.

Structurally, DOGE continues to print higher highs and higher lows, maintaining a clear bullish trend on the daily timeframe. The current price action appears to be a consolidation within an uptrend rather than a breakdown. A successful defense of the $0.22 support will mark another higher low and build the foundation for continuation toward the next resistance levels.

Volume also supports this thesis. Despite the price pullback, volume inflows remain elevated, indicating that buyers are absorbing sell pressure. As long as demand remains consistent, the likelihood of reclaiming the value area high continues to increase. A close above this area would signal renewed strength and likely draw in momentum buyers.

Looking ahead, reclaiming $0.28 would shift focus toward the next resistance zones at $0.32 and $0.41. These are high timeframe levels where sellers may become more active. A clean break above them on rising volume could trigger an extended rally, opening the door for Dogecoin to reach new local highs.

What to expect in the coming price action

As long as Dogecoin holds above the $0.22 support level, the broader outlook remains bullish. A reclaim of the $0.28 level, followed by a push toward $0.32 and $0.41, would confirm strength. Sustained volume and structure will be key indicators to watch for in the days ahead.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Shaurya Malwa
NFT Gaming

Golden Cross Fails to Lift DOGE as Sellers Overwhelm Rally

by admin



Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.

Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.

He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Xrp Rally Brings 94% Holder In Profit, Chart Warns Of 20% Fall
GameFi Guides

XRP Rally Brings 94% Holder in Profit, Chart Warns of 20% Fall

by admin



XRP, the cryptocurrency launched by Ripple Labs in 2012 to power fast global payments, has surged above $3, sending nearly 94% of its circulating supply into profit, data from blockchain analytics firm Glassnode shows. 

The token has gained more than 500% in the past nine months, climbing from under $0.40 to $3.11. XRP is now the fifth-largest cryptocurrency by market value, according to CoinMarketCap.

Such widespread profitability has historically marked overheated conditions. When more than 90% of holders were in profit in early 2018, XRP peaked near $3.30 before losing 95% of its value. The same configuration was seen in April 2021 when the token fell 85% after reaching the peak of $1.95.

Profitability Metrics Signal Warning Signs

One key indicator, Net Unrealized Profit/Loss (NUPL), which tracks the gap between unrealized gains and losses, has now entered the “belief–denial” zone. Analysts note this phase often comes before major tops.

In both 2017 and 2021, XRP reached its highest prices when the NUPL was similar While investors today are heavily in profit, the market has not yet entered the “euphoria” stage, where heavy selling typically begins.

Chart Pattern Shows 20% Downside Risk

On the charts, XRP is consolidating inside a descending triangle pattern, with repeated retests of support near $3.05. An actual breakdown may drive the token to $2.39 by September, a 23% drop. 

Nevertheless, in case bulls manage to break above the resistance line, XRP might recover momentum, and some analysts propose targets of up to $3.50.

The next few weeks will determine whether new inflows, which are being spurred by institutional demand and momentum within the broader altcoin market, can soak up possible profit-taking. 

Also Read: Wellgistics Health Launches XRP Payments for U.S. Pharmacies



Source link

0 comments
0 FacebookTwitterPinterestEmail
Coinbase (COIN) Stock Hits 52-Week High, Nears All-Time Record Amid Crypto Rally
Crypto Trends

Coinbase (COIN) Stock Hits 52-Week High, Nears All-Time Record Amid Crypto Rally

by admin



Coinbase Global (COIN) stock extended its rally on Wednesday, setting a fresh 52-week high and coming within range of its record closing price from November 2021, as the broader digital asset industry followed Bitcoin’s lead.

Shares of the crypto exchange rallied by as much as 7.1% Wednesday morning, reaching an intraday high of $369.25, according to Yahoo Finance data. COIN was last seen trading around $352 for a gain of 2%.

The stock has also rebounded 133% from its April low, which occurred during a broad market sell-off sparked by US President Donald Trump’s “Liberation Day” tariff announcement.

With the rally, COIN has set a fresh 52-week high and is within 2% of its record closing price of $357.39, according to Macrotrends data. 

COIN stock is approaching all-time highs. Source: Yahoo Finance

At current values, Coinbase stock has a total market capitalization of $89.6 billion, making it one of the most valuable crypto-focused companies. 

Coinbase stock has rallied more than 42% since the start of the year, fueled by rising (BTC) prices, pro-industry regulatory developments in the United States and steady revenue growth. 

While Coinbase’s first-quarter revenue came in below expectations, it rose 24.2% year-over-year to $2.03 billion. Subscription and services revenue grew 36.3% to $698.1 million, driven largely by income from stablecoins.

Related: Bitcoin rebounds to $105K as Coinbase premium hits second 2025 high

Coinbase stock follows Circle Internet Group higher

Coinbase shares are rallying alongside stablecoin issuer Circle Internet Group’s highly successful initial public offering.

After debuting at $31 per share, Circle’s stock, trading under the ticker CRCL, has surged to over $200.

Coinbase and Circle maintain a significant partnership centered on the USDC (USDC) stablecoin, which deepened in 2023 when Coinbase acquired an equity stake in Circle.

As Cointelegraph recently reported, Circle briefly became the top holding in VanEck’s MVIS Global Digital Assets Equity Index (MVDAPP), which tracks the largest and most liquid publicly traded crypto companies.

The largest components of MVDAPP. Source: MarketVector

However, as of Wednesday, Coinbase had reclaimed the top spot in the MVDAPP.

Related: ‘Stablecoin summer’ as Coinbase, Circle stocks surge on new legislation



Source link

0 comments
0 FacebookTwitterPinterestEmail
XRP's weekly chart shows the price-MACD divergence. (TradingView/CoinDesk)
NFT Gaming

XRP Primed For Record Rally? Ripple-Linked Coin Echoes Bullish Bitcoin (BTC) Pattern

by admin



This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.

Imagine a ship caught in a fierce storm, battered by large waves and swaying wildly yet staying afloat. It indicates that beneath the turmoil, resilience persists, suggesting that smooth sailing will follow once the storm passes.

Similarly, when an asset’s price refuses to decline despite bearish signals from key indicators, it suggests underlying strength and a potential bull run ahead.

That’s the current situation in the XRP market and mirrors conditions in the bitcoin market that foreshadowed BTC’s historic run higher from $70,000 to $100,000 late last year. Let’s have a look at both.

XRP is the payments-focused cryptocurrency used by the Fintech company Ripple to facilitate cross-border transactions. The two, however, are not interchangeable.

XRP defies bearish MACD histogram

The underlying strength in XRP is evident from the way prices have been behaving relative to the MACD histogram in recent weeks.

The moving average convergence divergence (MACD) histogram is an exponential moving average (EMA)–based trend-following indicator widely tracked by both institutions and retail investors to identify price trends and measure trend momentum.

The MACD bars crossing from negative to positive indicate a bullish shift in momentum, suggesting the start of an uptrend in the asset’s price. A crossover below zero suggests otherwise, with consecutive deeper bars indicating a strengthening of the downward momentum.

XRP’s weekly chart MACD, used by traders to gauge long-term trends, crossed below zero in the first week of March, signaling a renewed downtrend.

However, a pronounced downtrend has not yet materialized, with prices mainly trading back and forth between $2 and $2.60, barring occasional short-lived dips below $2.

XRP’s weekly chart shows the price-MACD divergence. (TradingView/CoinDesk)

The divergence, marked by persistently bearish MACD and largely directionless trading, hints at bullish vibes or resilience beneath the surface – bulls successfully absorbing supply.

This prolonged divergence means the potential for a sudden bull revival and price increases. The bull case is supported by the upward-sloping 50-, 100- and 200-week simple moving averages (SMA).

BTC defied bearish MACD in 2024

The above-discussed divergence in XRP is similar to the conditions in BTC last year when the weekly MACD kept flashing red throughout the Summer. At the same time, BTC traded range-bound, barring occasional short-lived dips below $60,000.

CoinDesk noted the divergence in mid-September last year when BTC changed hands at around $59,000. Weeks later, BTC rose to $70,000, eventually topping the same in November to hit record highs above $100,000.

Let’s see if XRP follows the same path.

BTC’s 2024 price-MACD setup. (CoinDesk/TradingView)



Source link

0 comments
0 FacebookTwitterPinterestEmail
Altcoins, memecoins join crypto market rally as BTC reclaims $105k
Crypto Trends

Altcoins, memecoins join crypto market rally as BTC reclaims $105k

by admin



The ongoing Bitcoin-led recovery is rippling through the broader crypto market, with improved investor sentiment driving gains across the altcoin and memecoin sectors.

Bitcoin (BTC) has been on an upward trend over the past 24 hours, posting an approximate 4% gain that saw the crypto giant reclaim the $105,000 mark.

As is typical in Bitcoin-led market cycles, altcoins have followed suit, capitalizing on the momentum. Ethereum (ETH), the second-largest crypto asset, outperformed Bitcoin with an 8% gain, roughly double BTC’s, now trading at $2,411 at press time.

Among the standout performers, Sei (SEI) led the market with a massive 43% gain in the past 24 hours, emerging as one of the day’s largest gainers by a wide margin. Other tokens like SUI (SUI) and Chainlink (LINK) also stood out, posting gains of up to 15% and 10% respectively in the last 24 hours. 

Solana (SOL) and Avalanche (AVAX) followed suit, joining the rally with similar gains of 7.8% and 7.6% to sit at respective trading prices of $144 and $18 at press time. 

XRP (XRP) and Cardano (ADA) were not left behind, each posting slightly higher gains above 8% and trading at $2.18 and $0.583. 

Meanwhile, memecoins stole the spotlight with even bigger moves. Dogwifhat (WIF) jumped 25% as the strongest gainer among the coins, Popcat (POPCAT) climbed 15%, and Pepe (PEPE) rose 14%. Others including Floki (FLOKI) and Bonk (BONK) also notched double-digit gains of around 13%, placing them among the day’s top gainers.

OG memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) joined the rally as well, logging more modest but steady gains in the 8% to 10% range.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Oliver Knight
Crypto Trends

Cosmos' ATOM Surges 10% in High-Volume Breakout Rally

by admin



Uncertainty in the Middle East between Iran and Israel continues to shape cryptocurrency performance as ATOM demonstrates remarkable strength with a decisive breakout.

The cryptocurrency surged from $3.787 to $4.042, establishing new support above the psychological $4.00 level with strong buyer conviction.

Technical Analysis

  • ATOM-USD demonstrated a 6.73% gain over 24 hours, with a total price range of $0.359 (9.52%).
  • The decisive breakout occurred at 22:00 on June 23rd, with price surging through the $4.00 resistance level.
  • Trading volume during the breakout reached 2,027,234 units, nearly double the 24-hour SMA of 1,023,000.
  • A new high-volume resistance level was established at $4.09. • Post-breakout, ATOM maintained support above $4.00 with decreasing volatility, suggesting consolidation.
  • In the most recent hour, ATOM experienced a bullish breakout at 12:03, surging from $4.035 to $4.042.
  • This mini-rally continued to $4.046 at 12:04, representing a 1.0% gain within just two minutes.
  • The exceptionally high volume during this move (108,229 units at 12:03, followed by 91,550 units at 12:04) indicates strong buyer conviction.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Close