TOTAL3 - Altcoin Season DelayedCryptos are currently in correction mode, which could be a good time to accumulate.
TOTAL3 has an interesting setup, with the next relevant support at 765B-800B, which was the previous high in March 2024, and coincides with the daily SMMA (red line).
If we see a positive reaction in this area, we could at least retest the bearish trend line we have formed in the last few days.
I will update this idea as the setup develops.
Altcoinseason
Are You Scared About Altcoins? Huge Pump Ahead!Hello, Skyrexians!
Recently we focused on Bitcoin and Dominance analysis because it's much more important than analyzing any particular altcoin. Growth on altcoins cannot be counted a right prediction without Bitcoin Dominance drop. Today we are going to look in details on the wave 5 of CRYPTOCAP:OTHERS.D which we have already considered in our previous analysis on the higher time frame.
Today let's take a look at the daily time frame inside the global wave 5. It has pumped in November and it was just the wave 1, which has been finished with the red dot on the Bullish/Bearish Reversal Bar Indicator . As always, alerts from this indicator are automatically replicated on my accounts. You can find the information in our article on TradingView .
This wave 2 has the ABC shape and finally it touched 0.61 Fibonacci. Now it's forming the green dot and if this signal will be confirmed with daily candle close our scenario is likely to be valid. OTHERS.D is going to print the wave C which has the target between 16% and 20%. This is huge potential gains for all altcoins you have.
Best regards,
Skyrexio Team
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Altcoins season has not even started!As you can see we are in the same spot that last cycle. BTC running avove previous ATH and total2 still bellow previous top. Once btc gets close to the top altcoins are going to explode, see how LMACD of Total 2 is not even close to the top of the descending diagonal. Scoop some alts now, next 12 months should be bright.
Expect Volatility for Altcoins: Key Levels to WatchTOTAL3 (Total Market Cap excluding BTC and ETH) is currently oscillating between $1 Trillion and $1.1 Trillion, presenting a tight range that traders are closely monitoring. Here’s what could happen next:
1. Range Rebound: A dip to $1 Trillion with a strong bullish rejection at this support could drive the market to test the top of the range at $1.1 Trillion.
2. Breakout Opportunity: A successful breakout above $1.1 Trillion would signal bullish momentum, potentially lifting Altcoin Market to $1.2 Trillion and marking the continuation of Altseason.
3. Bearish Scenario: Failing to hold the $1 Trillion support level would likely trigger short-term bearish sentiment, pushing Altcoin Market cap down by approximately 10%, targeting $0.9 Trillion.
When is altcoin season?When examining the “ CRYPTOCAP:OTHERS.D ” 12-monthly chart, a clear pattern emerges for altcoin seasons. We observe three years of downward ▼ momentum and consolidation, followed by a year or more of upward ▲ momentum.
This pattern could be attributed to market cycles and investor behavior, where extended periods of consolidation are followed by explosive growth. During the consolidation phase, prices stabilize, creating a base for future gains. Once market sentiment shifts, upward momentum takes over, often leading to significant price increases.
In previous cycles, we noticed that the altcoin season typically starts after major market cycles. For example, the 2017 altcoin season followed the 2016 cycle, and the 2021 altcoin season followed the 2020 cycle. When zoomed in on the monthly chart, both the 2017 and 2021 altcoin seasons started in January. This consistent timing suggests that the next altcoin season could commence in January 2025.
However, there has already been a bullish candle close in November, which could indicate a shift in the pattern. If December also closes bullish, we might see a two-month variance in the current cycle.
By examining fractals from past cycles, we can attempt to predict where the current altcoin season might peak. The 2017 fractal indicates a duration of 151 days, with dominance potentially reaching 22% around May or June 2025. In contrast, the 2021 fractal suggests a longer cycle of 365 days, with dominance peaking at approximately 24.5% around December 2025 or January 2026.
All charts 📈 indicate that the bottom is in, and all dips are opportunities for buying. Next year's growth looks incredibly promising. 🚀
What do you think? Will the 2024/2025 Altcoin cycle follow the same pattern, or will we see a deviation?
FTX Can Explode Higher In January MartyBoots here , I have been trading for 17 years and sharing my thoughts on FTX here.
FTX is looking beautiful , very strong base for more upside
Very similar to RSR which is up nearly 170% increase in a similar base
Do not miss out on FTX as this is a great opportunity
Watch video for more details
These Top 30 AltCoins have GOOD setups against BTC The Analysis of Benjamin Cowen
Benjamin Cowen , a well-known cryptocurrency analyst, has pointed out that many cryptocurrencies that exhibit a double bottom against Bitcoin ( CRYPTOCAP:BTC ) have experienced HIGH price increases, we have examples like CRYPTOCAP:SOL ($225.05 - 211.31% return (1y)) in the middle of 2023 when it did a double bottom against CRYPTOCAP:BTC and recently with CRYPTOCAP:XRP ($2.62 - 323.88% return (1y)) in early November, both outperforming BTC ($106,726.68 - 155.86% return (1y)) this year.
Source vid: The EXACT Date You Should Go ALL IN on Altcoins! at 42:00
BTC Dominance
When BTC's dominance rises relative to other cryptocurrencies, ppl often shift into BTC in search of stability, aiming to capture the secure upside that altcoins may not provide. During this period of increasing BTC dominance, altcoins can bleed or just go sidewaves while BTC goes up, meaning their value decreases in relation to BTC. But, these altcoins I'm gonna show you seem to have double bottomed against their BTC pair and it might be the start of a huge upside in the USD pair too.
Double Bottom Pattern
The double bottom pattern indicates that selling pressure has bottomed out and can signal a bullish move. Recognizing this pattern in the context of BTC dominance offers a valuable setup and great expectations for price since it tends to follow an upside movement.
So🤔¿Are you wondering which AltCoins have a similar setup? 👀
I just wanted to point out coins in the Top 30, while all crypto market implies risk, the ones in this top 30 have high marketcap and are well known projects so you're kinda in safer.
Chainlink ( CRYPTOCAP:LINK )
Avalanche ( CRYPTOCAP:AVAX )
AAVE ( CRYPTOCAP:AAVE )
DOGE ( CRYPTOCAP:DOGE ) Doge is already on the move but it has the checkbox, could go higher in this pair
Which ones are on the way to get this setup?
CRYPTOCAP:NEAR AMEX:APT CRYPTOCAP:DOT CRYPTOCAP:ADA - All these 4 are on the way to get it, but remember it's just a good setup IT DOES NOT MEAN they're not gonna go up in the altseason cuz they're probably still gonna do it since they're really big L1's. One thing for sure that has been talked about it's the concern that we had like a mini altseason and ofc we can't say for sure it's coming the big one, but BTC 4 year cycles has repeated till this date so it might come anyway.
That's it for the post, these are the top 30 altcoins that could outperform BTC from now, thank you for your time and remember DYOR (Do your own research)
Ripple's RLUSD Launch: A Catalyst for XRP's AscentRipple has launched its stablecoin, RLUSD, which has immediately spurred a notable increase in XRP's price. This launch not only marks Ripple's strategic expansion into the stablecoin arena but also positions XRP for potential new highs, catalyzed by both technical and fundamental advancements.
Fundamental Impact:
RLUSD's Design and Utility: RLUSD is designed to be fully backed by US dollar deposits, US government bonds, and other cash equivalents, ensuring stability akin to traditional currency. Monthly third-party audits further enhance its credibility and transparency, making it a trusted bridge between fiat and crypto. Its multi-chain support allows for broader adoption and integration, particularly in cross-border payments and DeFi applications. This aligns with Ripple's vision to improve the efficiency of global financial transactions, thereby directly benefiting the XRP ecosystem.
Enhancing XRP's Ecosystem: The introduction of RLUSD is seen as a vote of confidence in CRYPTOCAP:XRP and the XRP Ledger (XRPL). By providing a stablecoin that complements CRYPTOCAP:XRP , Ripple aims to increase the liquidity and utility of CRYPTOCAP:XRP , potentially attracting more institutional investors wary of cryptocurrency volatility. The stablecoin's launch is expected to integrate more seamlessly into Ripple's existing payment solutions, enhancing both the XRP Ledger's utility and Ripple's service offerings.
Regulatory Approval: RLUSD has received approval from the New York Department of Financial Services (NYDFS), adding a layer of regulatory compliance that could further legitimize Ripple's operations and XRP's use in broader financial systems. This approval is pivotal for Ripple's expansion in the regulated US market, a move that could set a precedent for other stablecoins.
Technical Analysis
Price Movement: Following the announcement and launch of RLUSD, CRYPTOCAP:XRP has seen a significant uptick, with its price jumping to $2.66, marking a 12.61% increase in the last 24 hours. This surge has pushed XRP past critical resistance levels, breaking a wedge pattern and setting sights on $2.65 and $2.91 as the next possible resistances. The high trading volume accompanying this price rise, up by over 100%, reflects strong market interest and confidence in XRP's direction.
Overbought Conditions: The Relative Strength Index (RSI) for$ XRP currently stands at 82, indicating an overbought market which suggests caution for short-term traders. However, for long-term holders, this surge from $0.69 to $2.698 in just two months underscores a robust bull market trend, potentially fuelled further by the RLUSD launch.
The technical outlook, with the RLUSD news acting as a catalyst, suggests a trajectory towards $5 before Christmas, fueled by both the intrinsic value of the XRP Ledger and the new stablecoin's impact.
Conclusion
Ripple's strategic introduction of RLUSD is not just a step towards diversifying its offerings but a significant leap in enhancing the XRP ecosystem's robustness and utility. From a fundamental standpoint, RLUSD offers stability and regulatory compliance, which are pivotal for mainstream adoption in financial services.
Technically, the stablecoin's launch has propelled XRP's value, with market indicators suggesting continued growth. As Ripple continues to navigate the complexities of crypto-finance integration, RLUSD and XRP together are poised to redefine how digital assets can be leveraged for global payments, potentially setting new benchmarks in the crypto industry before the year's end.
%570 Daily Volume Increase, Huge Opportunity
MDTUSDT is showing a 570% increase in daily volume, indicating a surge in trading activity and presenting a huge opportunity. The blue boxes highlight the best demand zones, where strong buying interest is expected.
Monitor these zones for price reactions or lower time frame market structure breaks to confirm entries. Always trade with proper risk management.
I keep my charts clean and simple because I believe clarity leads to better decisions.
My approach is built on years of experience and a solid track record. I don’t claim to know it all, but I’m confident in my ability to spot high-probability setups.
My Previous Analysis
🐶 DOGEUSDT.P: Next Move
🎨 RENDERUSDT.P: Opportunity of the Month
💎 ETHUSDT.P: Where to Retrace
🟢 BNBUSDT.P: Potential Surge
📊 BTC Dominance: Reaction Zone
🌊 WAVESUSDT.P: Demand Zone Potential
🟣 UNIUSDT.P: Long-Term Trade
🔵 XRPUSDT.P: Entry Zones
🔗 LINKUSDT.P: Follow The River
📈 BTCUSDT.P: Two Key Demand Zones
🟩 POLUSDT: Bullish Momentum
🌟 PENDLEUSDT: Where Opportunity Meets Precision
🔥 BTCUSDT.P: Liquidation of Highly Leveraged Longs
🌊 SOLUSDT.P: SOL's Dip - Your Opportunity
🐸 1000PEPEUSDT.P: Prime Bounce Zone Unlocked
🚀 ETHUSDT.P: Set to Explode - Don't Miss This Game Changer
🤖 IQUSDT: Smart Plan
⚡️ PONDUSDT: A Trade Not Taken Is Better Than a Losing One
💼 STMXUSDT: 2 Buying Areas
🐢 TURBOUSDT: Buy Zones and Buyer Presence
Velodrome Finance: Key Levels and the Calm Before the Break!!Imagine standing at the edge of a quiet lake in the early morning. The water is still, but you can feel something brewing—a ripple, a shift. That’s where Velodrome Finance (VELO/USD) is right now, hovering around key levels, poised for its next move.
If the price dips to the 50% retracement at $0.23-$0.21, it could find the momentum to push higher. A deeper move to the 61.8% retracement at $0.1770 might still hold promise for a rebound, but if it falls below this level, it’s best to step back and wait for a clearer setup.
On the upside, the target is clear: $0.50. It’s a move that could bring big opportunities, but only if VELO holds strong at these key levels.
This is the kind of moment that defines trading. It’s not about rushing or forcing a move—it’s about watching, waiting, and being ready when the time is right.
Wellness Tip: When the market feels uncertain, take a moment to reset. Step away from the screen, stretch, or just close your eyes for a minute. Trading isn’t just about the moves you make—it’s about staying calm and clear-headed no matter what comes next. 🌿✨
Kris/ Mindbloome Exchange
Trade What You See
ALTCOINS to the moonCRYPTOCAP:BTC.D
* Since 9 September 2024 and the chart still following the pig picture & the big plan as well .( please check the post below here).
* It was so nice entries & it was altcoins bottoms.
* Retest for the reversal range breakout is already done and you could see that in the altcoins chart.
* Now the BTC. Dominance need to break 53.71% and close 1W Candle below.
* Then re-test to continue dumping.
* I think the next wave for the altcoin is so huge , if you missed the bottoms you still have another opportunity with this correction.
* May be some coins will give you nice entry by the end of this month.
* This plan may take long weeks to be done.
* I was expecting BTC price is going to dump before going to 100K but it worked against my plan but in the end BTC price broke the high so ( BTC price now is in the market maker hands & under their control).
*I did mistake because the chart was showing that BTC is going up but i thought it is a trap because i was emotionally controlled by the media & i did not believe the chart.
*To review the previous post for BTC. Dominance check it below...............
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Golden Advices.
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* This is my expectation for next weeks & may be i am completely wrong, Please do your own plan.
* Please calculate your losses before entering any trade.
* Do not enter any trade you find it not suitable for you.
* No FOMO - No Rush , it is a long journey.
Useful Tags.
****************
My total posts
www.tradingview.com
1Million Journey
www.tradingview.com
www.tradingview.com
@Crypto_alphabit
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ASTUSDT | HUGE VOLUME SPIKE %700Volume Surge: Daily trading volume has increased by 700%, indicating heightened activity and interest in the pair.
Price Rejection: Despite a strong price rejection, evidence suggests the presence of buyers, signaling potential accumulation.
Key Levels:
Buy Zones: Marked with black lines, these levels indicate where buyers are likely to become active.
Stop Point: Set at 0.097, providing a clear risk management level.
I keep my charts clean and simple because I believe clarity leads to better decisions.
My approach is built on years of experience and a solid track record. I don’t claim to know it all, but I’m confident in my ability to spot high-probability setups.
My Previous Analysis
🐶 DOGEUSDT.P: Next Move
🎨 RENDERUSDT.P: Opportunity of the Month
💎 ETHUSDT.P: Where to Retrace
🟢 BNBUSDT.P: Potential Surge
📊 BTC Dominance: Reaction Zone
🌊 WAVESUSDT.P: Demand Zone Potential
🟣 UNIUSDT.P: Long-Term Trade
🔵 XRPUSDT.P: Entry Zones
🔗 LINKUSDT.P: Follow The River
📈 BTCUSDT.P: Two Key Demand Zones
🟩 POLUSDT: Bullish Momentum
🌟 PENDLEUSDT: Where Opportunity Meets Precision
🔥 BTCUSDT.P: Liquidation of Highly Leveraged Longs
🌊 SOLUSDT.P: SOL's Dip - Your Opportunity
🐸 1000PEPEUSDT.P: Prime Bounce Zone Unlocked
🚀 ETHUSDT.P: Set to Explode - Don't Miss This Game Changer
🤖 IQUSDT: Smart Plan
⚡️ PONDUSDT: A Trade Not Taken Is Better Than a Losing One
💼 STMXUSDT: 2 Buying Areas
ME (Magic Eden) Bulls time!The ME chart is interesting, initially there was a lot of selling pressure from people who received the airdrop, causing the price to drop from $8 on Binance to $4.90, but it then made a double bottom near $ 5 and is now showing strength and trading above the moving averages on 15 minutes timeframe.
If volumes remain this high, I believe the price will rise in the coming days, I liked the risk reward.
Chainlink Surge Over 20%: A Testament to Growing DeFi ConfidenceChainlink ( CRYPTOCAP:LINK ) has stolen the spotlight in the cryptocurrency market, achieving a remarkable 20.43% surge in the past 24 hours, closing at $28.44. As a leader in decentralized oracles, Chainlink continues to demonstrate its pivotal role in the decentralized finance (DeFi) ecosystem.
Technical Overview
Chainlink’s surge began early in the day, breaking critical resistance levels and achieving an intraday high. Despite pulling back slightly, LINK still boasts a robust 16.8% gain, signaling strong market interest.
Key Levels:
- Resistance: $30 remains the next major hurdle. Breaking this could propel LINK further into uncharted territory.
- Support: Strong support is evident around $25, ensuring stability amid potential profit-taking.
RSI (Relative Strength Index): Holding at 62, the RSI suggests a healthy bullish trend without reaching overbought territory, leaving room for further growth.
Trading Volume: Substantial trading activity underscores increased demand, confirming a strong investor appetite for $LINK.
Strengths Driving the Rally
1. Role in DeFi Expansion:
Chainlink’s decentralized oracle technology has become indispensable for the DeFi space, powering data feeds for smart contracts across multiple blockchain networks. This critical role boosts investor confidence in the project’s long-term viability.
2. Growing Adoption:
Chainlink’s expanding partnerships and integrations have further cemented its reputation. Recent collaborations with prominent blockchain projects have likely fueled optimism, as they highlight real-world use cases for LINK’s technology.
3. Market Sentiment:
Chainlink’s surge comes at a time when the broader cryptocurrency market exhibits modest fluctuations. LINK’s outperformance reflects strong sentiment around its unique value proposition in the blockchain ecosystem.
What’s Next for Chainlink?
Market participants are closely watching LINK’s next moves. A decisive breakout above $30 could catalyze another wave of upward momentum, potentially targeting $35. However, a failure to hold current levels might see LINK retest support at $25, offering another entry point for long-term investors.
As the DeFi sector continues to grow, Chainlink remains at its core, providing crucial infrastructure for data integrity and security. This, coupled with its technical strength, makes it a token to watch in the coming weeks.
Final Thoughts
Chainlink’s recent rally underscores its importance in the cryptocurrency space, both as a technological innovator and a valuable asset for investors. With a strong technical setup and growing adoption, LINK appears poised to sustain its upward trajectory.
Investors, however, should remain mindful of market volatility and key levels as the token seeks to navigate its next phase of growth.
Ripple Faces New Legal Hurdles Amid XRP’s PerformanceRipple Labs finds itself under renewed legal scrutiny as plaintiffs in the class action lawsuit, In re Ripple Labs Inc. Litigation, filed appeals with the Ninth Circuit Court. The ongoing legal battles surrounding Ripple and its native token, XRP, continue to cast a shadow over the cryptocurrency’s prospects despite its significant market performance in recent months.
The Legal Landscape
Proposed Order to Deny Ripple’s Bill of Costs
Plaintiff Bradley Sostack has filed an objection to Ripple’s bill of costs in a California district court, proposing an order to deny the company’s request to cover litigation expenses. This move underscores the persistent contention in the lawsuit, with plaintiffs challenging Ripple’s earlier favorable judgments, including those regarding summary judgment and claims under California law.
Upcoming Deadlines
Adding to the complexity, the principal brief in the high-profile Ripple vs. SEC case is due on January 15. This timeline aligns closely with speculation about SEC Chair Gary Gensler’s potential last-ditch efforts to impose additional regulatory challenges on Ripple before his anticipated departure on January 20.
Ripple’s Strategic Developments
While legal battles rage on, Ripple has continued to innovate. Recent developments include the launch of the RLUSD stablecoin, further cementing its ambition to dominate blockchain-based financial solutions. However, this progress has been somewhat overshadowed by the ongoing litigation.
Technical Analysis
From a technical standpoint, XRP’s price dynamics reflect the broader market sentiment influenced by the lawsuit:
- Current Performance: At the time of writing, XRP is trading at $2.40, experiencing a 1.37% decline within the past 24 hours.
- RSI Weakness: The Relative Strength Index (RSI) is hovering around 50, signaling a lack of clear momentum. This aligns with the market’s cautious approach amid uncertainty surrounding the legal outcomes.
- Bearish Reversal Pattern: XRP appears to be forming a bearish reversal pattern, suggesting a potential decline if market sentiment doesn’t improve.
Fundamental Perspective
XRP has been a standout performer, with a 400% rally in recent months attributed to Ripple’s victories against the SEC and its strategic moves in the financial ecosystem. Despite this, the token remains vulnerable to the ongoing legal challenges and regulatory scrutiny.
Key Considerations:
- The outcome of the appeals and the SEC’s principal brief could significantly impact XRP’s market trajectory.
- Ripple’s ability to continue its technological advancements, such as expanding its stablecoin ecosystem, will be crucial in maintaining investor confidence.
Conclusion
Ripple’s legal battles represent a pivotal moment for XRP and the broader cryptocurrency market. While the token has shown resilience with impressive gains and innovations like the RLUSD stablecoin, the uncertainty surrounding its legal status continues to weigh heavily. Investors should keep a close watch on the January 15 deadline and the broader implications of regulatory actions under the SEC’s leadership transition.
Can we consider this a retest?In my last post on bitcoin dominance I noted that for the first time in a year and a half we had broken our wedge to the downside. This was hugely bullish for altcoins and indeed, we saw some massive pumps occurring in the space. But I also cautioned that we could reverse and head back up to retest the underside of our wedge. This is a classic technical move. I call it "Kiss Mamma Good-bye" as price always seems to like to come back one more sentimental time to an area of supreme significance before moving on. This retest would then cause alts to drop significantly, liquidating many. And we saw this occur this past week. So, can we consider this our retest? I know we didn't touch the underside of our wedge completely but bulls are in a hurry here. They want one last good pump before Christmas. And if my chart is correct, I think we'll get that.
✌️ Stew
Chainlink bull flag structureCertainly, let's analyze the chart pattern you provided.
**Chart Pattern:**
The chart displays a bullish flag pattern on the 4-hour timeframe for the Chainlink (LINK) / TetherUS (USDT) pair.
**Key Elements:**
* **Bull Flag Structure:** The chart shows a sharp upward move (flagpole) followed by a consolidation phase (flag) within parallel trend lines. This pattern often signals a continuation of the upward trend.
* **Breakout Point:** The price has broken above the upper trend line of the flag, confirming the bullish signal.
* **Previous High:** The price is currently below the previous high, indicating potential upside.
* **Flag Target:** The chart shows a potential target at 32.17, which is calculated based on the height of the flagpole projected from the breakout point.
* **RSI (Relative Strength Index):** The RSI is currently at 58.63, which is above the 50 level, this shows strong momentum to the upside
**Potential Price Targets:**
Based on the bullish flag pattern and the current price action, here are some potential price targets:
* **Short-term:** The immediate target is the previous high at 26.94. If the price breaks above this level, it could signal further upside potential.
* **Medium-term:** The flag target at 32.17 is a significant level to watch. If the price reaches this level, it could be a strong resistance level.
* **Long-term:** The overall trend for LINK is bullish, and a sustained break above the previous high could open up the possibility of further gains. However, it's important to consider that the RSI is currently overbought, which suggests that a pullback or consolidation may occur before the price resumes its upward trend.
**Additional Considerations:**
* **Volume:** Increased volume during the breakout can confirm the strength of the bullish move. Low volume could suggest a weaker move and potential for a reversal.
* **Support and Resistance Levels:** Identifying key support and resistance levels can help in managing risk and setting profit targets.
**Disclaimer:**
This analysis is based on technical analysis and does not constitute financial advice. It's important to conduct your own research or consult with a financial advisor before making any investment decisions.
Cardano ($ADA) Dips 8% After Foundation’s X Account HackCardano ( CRYPTOCAP:ADA ), one of the largest cryptocurrencies by market cap, faced significant turbulence after the Cardano Foundation’s X account (@Cardano_CF) was compromised on Sunday. This breach resulted in false promotions and market concerns, triggering an 8% drop in ADA’s price. Here’s a comprehensive analysis of the incident and the technical and fundamental outlook for the coin.
The Hack and Market Sentiment
The compromised X account propagated false information, including:
- Promotion of a fake token, ADAsol: Claimed as a partnership between Cardano and Solana.
- False claims of ADA withdrawal halts: Allegedly tied to SEC actions, further amplifying market fears.
The Cardano Foundation promptly addressed the issue, urging users to disregard any posts from the hacked account. Despite this, the damage to market sentiment was palpable, as fear and uncertainty gripped traders.
Broader Implications
This incident underscores the vulnerability of social media platforms to cyberattacks, even for established blockchain entities. It also raises critical questions about the need for enhanced cybersecurity in the crypto ecosystem.
However, amidst the chaos, optimism persists. Whale activity has shown signs of accumulation, suggesting that large investors still hold faith in ADA’s long-term prospects. Additionally, Cardano’s strong monthly performance—166% gains—indicates the potential for recovery.
Technical Analysis
At the time of writing, CRYPTOCAP:ADA trades at $1.115, reflecting a 6.79% drop intraday. The coin’s immediate range shows:
- Intraday low/high: $1.15–$1.22
- RSI (Relative Strength Index): 49, indicating weak momentum but a potential buy zone for opportunistic traders.
Market Outlook
While the hack triggered bearish sentiment, ADA’s price action aligns with broader market trends. Bulls will need to reclaim $1.22 to resume the upward trajectory seen earlier in Q4. Meanwhile, sellers may dominate if ADA fails to hold above the 38.2% Fib retracement level.
The Road Ahead
The X account hack could continue to weigh on ADA’s price in the short term. Negative sentiment might lead to increased selling pressure, especially if there are delays in restoring the compromised account.
Long-Term Prospects
Despite this setback, ADA’s bullish fundamentals remain intact:
- Whale Accumulation: Signals strong institutional confidence.
- Q4 Market Optimism: Renewed interest in cryptocurrencies positions ADA for potential gains.
Conclusion
The Cardano Foundation’s X account hack has undeniably shaken market confidence, resulting in an 8% dip in ADA’s price. However, with strong fundamentals and signs of whale accumulation, the coin still holds promise for recovery.
Traders should closely monitor technical levels and broader market trends to navigate this volatile period. For long-term holders, ADA remains a compelling investment, backed by its ecosystem and community support.
$NEAR Price Potential? Price Predictions That Will Surprise YouI was analyzing with the trend-based Fibonacci extension, looking for similar setups of significant price movements. In 2021, we can see that after that big dip, CRYPTOCAP:NEAR only reached the 1.0 level of the Fibonacci extension, which is a conservative or decent level. So, if we overlay the same retracement, we get a target of $40-$42. I think that's a decent return and definitely possible in the upcoming 90 days, which is usually how long the alt season lasts.
However , the AI narrative is quite big right now, and CRYPTOCAP:NEAR is the leading AI cryptocurrency at the moment. This could potentially help it reach the 1.618 level, or the blue zone, which is $66. If we take the average of the conservative price and the blue zone price, we get $53.
I would suggest taking profit at $35-$42 if you want to be conservative and $53-$66 if you're seeking more upside movement but are willing to take on more risk.
MarketCap needed for both prices:
40USD×1.22B CRYPTOCAP:NEAR =48.8BUSD
53USD×1.22B CRYPTOCAP:NEAR =64.66B USD
It's definitely doable in the Bullrun we're gonna have, CRYPTOCAP:NEAR is a great project but remember to DYOR !
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Bonk can pump 82% if it validated the bullflag bullish breakoutNo guarantee this pattern will break out, it could also extend the consolidation and morph into a completely different pattern, but at the moment it seems the best probability is a breakout upward considering we are only 1 big chart pattern breakout into the current long awaited altcoin market uptrend. *not financial advice* Please bonk responsibly.
Floki has an impressive chessboard at the momentMultiple overlapping bull patterns that will trigger eachother like a domino effect, It tart with the bull flag which we are already seeing begin to break out here. Fro here to the highest chart target is 111%. On the previous chart I posted on Floki, it had not yet been added to coinbase but we were speculating it would be and now it has. *not financial advice*