Category: Analysis

Novogratz warns that there will be a bitcoin correction, says crypto is ‘levered to the gills’

boss

Bitcoin is poised to breakthrough the long-awaited $100,000 level after its postelection rally, but that doesn’t mean the leading cryptocurrency will go up in perpetuity, said Galaxy Digital CEO Michael Novogratz. Bitcoin was trading at about $97,000 on Thursday morning, after setting a new record high of $98,367.00, according to Coin Metrics. Novogratz said on ” Squawk Box ” that reaching the six-figure mark felt “inevitable” and that bitcoin could continue to rally from there, but a pullback will come eventually. “There’s a ton of leverage in the system right…

XRP Price Targets Its Next Move: Will It Break Higher Again?

XRP price is consolidating gains above the $1.00 zone. The price might start a fresh increase if it clears the $1.150 resistance zone. XRP price started a downside correction below the $1.120 level. The price is now trading below $1.120 and the 100-hourly Simple Moving Average. There is a short-term contracting triangle forming with resistance at $1.1380 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could gain bullish momentum if it clears the $1.150 resistance. XRP Price Holds Support XRP price struggled to start…

Acurx Pharmaceuticals to add up to $1 million in bitcoin for treasury reserve, following MicroStrategy’s playbook

boss

Thomas Trutschel | Photothek | Getty Images The board of Acurx Pharmaceuticals approved Wednesday the purchase of up to $1 million in bitcoin to hold as a treasury reserve asset. Shares of the the company were last lower by more than 6% after spiking about 8% in premarket trading. “As demand for bitcoin grows, and so does its acceptance as a major and primary asset class, we believe that bitcoin will serve as a strong treasury reserve asset for cash not needed over the next 12 to 18 months” CEO David P. Luci said…

Cardano (ADA) Sets Sights on New Gains: Is a Surge Imminent?

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked…

XRP Price Signals Downside Correction: Is a Pullback Coming?

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked…

Solana (SOL) Could Soon Rally Past $250—Are Bulls in Control?

Solana started a fresh increase above the $220 zone. SOL price is consolidating gains and might aim for an upside break above the $250 resistance. SOL price started a fresh increase after it settled above the $200 level against the US Dollar. The price is now trading above $225 and the 100-hourly simple moving average. There is a connecting bullish trend line forming with support at $237 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh increase if the bulls clear…

WIF Slide Below $3.582 Sparks Fears Of Further Losses

WIF latest dip below the crucial $3.582 support has triggered concerns across the market, as bearish sentiment appears to be gathering strength. Its break below this key level could pave the way for even greater losses, leaving traders to question whether the bulls can stage a comeback or if further declines are inevitable. As downside risks grow, this analysis aims to examine WIF’s recent drop below the critical $3.582 support level and explore the potential implications of this bearish shift for future price movement. By assessing current market sentiment, key…

As bitcoin wraps up big week, case is made for $200,000

boss

Bitcoin is closing in on $100,000 for the first time, but could still double after that, according to BCA Research. “After its recent surge, premised on the more ‘bitcoin friendly’ candidate winning the U.S. presidency, we can expect some near-term retracement — as was the case in April this year,” analyst Dhaval Joshi wrote in a report on Thursday. “On a multiyear horizon though, bitcoin’s structural uptrend is intact and will ultimately take it to $200,000+.” That is due to the belief that, similar to gold, bitcoin is a “non-confiscatable…

Bitcoin Price Holds The Line: Is Another Surge Possible?

boss

Bitcoin price saw a short-term correction from the $93,450 zone. BTC is now consolidating gains near $87,000 and might attempt another increase in the near term. Bitcoin started a downside correction from the $93,450 zone. The price is trading above $87,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $90,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if it stays above the $87,000 zone. Bitcoin Price Starts Downside…

Dogecoin (DOGE) Momentum Seems Unstoppable: How High Can It Go?

Dogecoin started a fresh surge above the $0.320 resistance against the US Dollar. DOGE is holding gains and eyeing more upsides above $0.4180. DOGE price started a fresh rally like Bitcoin and climbed above the $0.350 resistance level. The price is trading above the $0.3650 level and the 100-hourly simple moving average. There is a key bullish trend line forming with support at $0.3870 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could continue to rally if it clears the $0.400 and $0.4150 resistance…