Tag: Rally

Bitcoin NVT Remains Bullish, All-Clear Signal For Rally?

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On-chain data shows the Bitcoin Network Value to Transactions (NVT) ratio is above the bear zone, implying the recent price growth might have been healthy. Bitcoin NVT Ratio Has Remained Outside Red Since October According to data from the on-chain analytics firm Santiment, the NVT ratio has seen a significant improvement recently. The relevant indicator here is the “NVT ratio,” which keeps track of the ratio between the Bitcoin market cap and daily circulation. The market cap here is naturally the total value of the asset, while circulation refers to…

Cardano Price Poised To Rally 650% By July 2024: Crypto Analyst

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According to crypto analyst Ali Martinez, Cardano (ADA) is exhibiting a price consolidation pattern that is highly bullish. Drawing parallels to the consolidation phase of 2018-2020, Martinez points out that ADA’s current trend is a mirror image, albeit without the disastrous COVID-19 crash. “Cardano’s current consolidation trend eerily mirrors the 2018-2020 phase without the COVID-19 crash! If so, ADA could break through the $0.45 resistance around the first week of December. The upswing could send ADA to $0.75 by late December,” Martinez shared in a recent post on X. The…

Immutable X Solidifies Position With 31% Rally

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Celebrated as the paramount force in the realm of Web3 gaming, Immutable X (IMX) has emerged as the go-to blockchain, steering the course for NFTs and in-game transactions. This blockchain powerhouse has solidified its position as the industry leader, particularly renowned for its association with blockbuster titles such as Gods Unchained and Guild of Guardians. The native token IMX of Immutable X has had an amazing upswing, rising by an astounding 140%, in an intriguing turn of events. From the bottom of a bear market, when it was trading at…

XRP Price Prediction – Breaking This Resistance Could Spark Fresh Rally

XRP price started a downside correction from the $0.750 zone. The price retested the $0.600 support zone and might soon attempt a fresh rally. XRP started a downside correction from the $0.750 resistance zone. The price is now trading below $0.650 and the 100 simple moving average (4 hours). There is a major bearish trend line forming with resistance near $0.6550 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair might correct further lower, but the bulls could remain active near $0.600. XRP Price Dips…

Rally Over Or Is There More To Go?

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The Chainlink rally has slowed down recently; here’s what the various LINK on-chain metrics look like to see if the surge has hope of a restart. Chainlink Has Registered Some Drawdown In The Past 24 Hours Just during the weekend, Chainlink had been floating above the $16 mark, but winds seem to have shifted for the coin in the past couple of days, as it has registered some drawdown. During the last 24 hours alone, LINK has dropped around 6%, leading to its price slipping below the $14 level. The…

Altcoins to Watch Out for as Bitcoin, Ethereum, Solana Cool Off after Impressive Rally

Bitcoin and some large-cap altcoins have experienced significant resistance in the past few days pushing crypto traders to small-cap and meme coins’ speculation. The crypto cash flow has been moving from Bitcoin (BTC) and large-cap altcoins like Ethereum (ETH), Solana (SOL), and Chainlink (LINK) to small-cap and meme coins as indicated by the traded volume. According to market data provided by Binance-backed Coinmarketcap, the daily average traded volume for meme coins was up approximately 121 percent to around $3.2 billion. On the other hand, Bitcoin and Ether’s trading volume had…

Consumer Price Index (CPI) Report Expected to Provide Some Guidance as to Potential Bitcoin Rally

Bitcoin bulls may be hoping that the expected CPI report may present some respite for BTC, which has struggled to maintain momentum. The general financial market is anticipating the Consumer Price Index (CPI) today to put some figures in perspective regarding the state of the economy. In addition to economic indicators, the content of the expected CPI will hopefully provide bulls with information that may pump Bitcoin. Bitcoin and the CPI For a few weeks, the market witnessed an interesting rally that saw the price of Bitcoin climb almost 40%. However,…

Is An Ethereum Mega Rally Incoming?

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Ethereum prices are firm at spot rates, still trading above the $2,000 level, and multiple other factors point to possible trend continuation. According to Kaiko’s data on November 12, not only is the ETH-BTC ratio shifting and reversing after extended periods of lower lows, but also there is a notable uptick in trading volume with funding rates in crypto derivative platforms shifting from negative to positive, suggesting increasing demand. ETHBTC ratio | Source: Kaiko Ethereum Breakout Above $2,000 As of writing on November 13, Ethereum is relatively firm and changing hands…

Crypto analysts bullish on Cardano and Bitcoin, Everlodge to rally

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Market participants are bullish, expecting prices to rally. CryptoKaleo, an analyst, predicts Cardano (ADA) and Bitcoin (BTC) will reach $11 and $49,000, respectively, in the future. Meanwhile, Everlodge (ELDG) may continue increasing in the sessions ahead.  Cardano staked rises to $8 billion Cardano staking is gaining momentum. Cardano News reports that over $8.16 billion worth of ADA is staked, representing 63% of the coin’s circulating supply.  This has boosted ADA’s market cap to $11.83 billion and increased its trading volume by 103%, demonstrating growing interest and trust in the platform.  As of…