A widely followed crypto analyst says that holders of smart contract platform Solana ( SOL ) may be due for the same pain Ethereum ( ETH ) traders felt during previous cycles. In a new interview on the Crypto Banter YouTube channel, popular crypto trader Benjamin Cowen says that Solana paired against Bitcoin (SOL/ BTC ) is printing the same patterns that ETH/BTC did years ago before stagnating. “A lot of these altcoins follow this pattern, and I want to show you this really interesting pattern by Solana… It’s following the same pattern so far – look at ETH/BTC. This was a 90% drop followed by a 500% rally [and] right and after that 500% rally, ETH/BTC got this drop and this drop was essentially putting in higher lows. It was putting in higher lows [and] everyone was calling for the flipping. It got [another] drop and then it had one more rally into the merge and then [it slowly descended until now]. Think about that chart – 90% down, 500% up, higher lows, fake out, one last rally. And then look [at] SOL/BTC, it’s the same thing, it’s identical.” Source: Benjamin Cowen/YouTube Cowen goes on to note that traders shouldn’t panic if Solana sees a major dip as there’s a chance it will recover, just like ETH/BTC did. However, he notes the SOL/BTC pair may enter a lengthy downtrend after its recovery as well. “If it breaks down, it doesn’t mean it’s over. You could have a scenario where it repeats what ETH/BTC did where it breaks down [and] people might think that’s the end. But it could very well just pop right back up in 2025 – exactly what ETH/BTC did – and then start to fade out in 2026, so there’s a chance something like that happens.” Source: Benjamin Cowen/YouTube SOL/BTC is trading for $0.0021 BTC ($216) while ETH/BTC is valued at $0.038 ($3,921). Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/Shacil/WhiteBarbie The post Solana Holders May Be In for Same Pain As Ethereum Bulls, According to Analyst Benjamin Cowen – Here’s Why appeared first on The Daily Hodl .
Bitcoin surpassed $106,000, marking a new record. The BTC to Gold ratio reached an all-time high, reinforcing its position. Continue Reading: Bitcoin Surpasses $106K, Strengthening Its Position Against Gold The post Bitcoin Surpasses $106K, Strengthening Its Position Against Gold appeared first on COINTURK NEWS .
XRP appears primed for a significant rally after months of consolidation, with key technical indicators pointing to a shift toward bullish momentum. Notably, in an X post , analyst DarkDefender highlighted that XRP has confirmed a breakout on the four-hour chart, signaling a clear shift in market sentiment. XRP seven-day price chart. Source: Finbold At press time, XRP is trading at $2.40, marking a strong recovery from its prolonged consolidation range of $0.50 to $0.60. The digital asset has posted a 0.14% gain on the weekly chart and is up an impressive 326% year-to-date. This breakout comes on the heels of XRP reaching a local high of $2.71 on December 3, further fueling optimism for continued upside momentum. Technical indicators confirm bullish momentum According to the analysis, XRP’s breakout above a descending trendline on the four-hour timeframe signals a potential reversal of its earlier downtrend. However, a daily close above $2.52 is required to solidify this bullish outlook. XRP price analysis chart. Source: DarkDefender/X The Ichimoku Cloud is projecting a bullish trend, with XRP now trading above the cloud, a signal traditionally associated with further upside potential. Moreover, the Relative Strength Index ( RSI ) has formed a Golden Cross , confirming increasing buying pressure and a definitive shift in momentum Key levels to watch The immediate focus now lies on XRP’s ability to clear the critical resistance at $2.52. A confirmed daily close above this level could open the door for a retest of the December 3 high at $2.71. Beyond that, DarkDefender has outlined short-term price targets of $5.85 and $8.76, supported by bullish market conditions and historical price movements. On the downside, XRP must defend key support levels to sustain its bullish outlook. Analysts point to $2.29, $2.24, $2.10, and $2.02 as critical zones where buyers are expected to step in to maintain the bullish momentum. Derivatives market data and broader ecosystem developments Derivatives data from CoinGlass further reinforces XRP’s bullish outlook. Options open interest has surged by 16.20% to $992.33K, reflecting growing confidence among traders in XRP’s upward trajectory. Meanwhile, options volume has increased by 17.41%, suggesting heightened activity as traders position themselves for volatility. XRP derivatives data. Source: CoinGlass The Binance long/short ratio among top traders stands at 3.845, indicating a clear bullish bias. Despite a slight decline of 12.62% in overall derivatives volume, open interest remains stable, signaling sustained market engagement and confidence in XRP’s potential for further gains. Moreover, investors are quite bullish on XRP and the wider Ripple Labs ecosystem, particularly as its stablecoin, RLUSD, has recently received final approval from the New York Department of Financial Services (NYDFS). This milestone enhances confidence in Ripple’s ecosystem and strengthens XRP’s position within the broader digital asset market. Bull flag pattern points to a $4 target While long-term projections for XRP remain ambitious, with some analysts predicting prices as high as $48 , short-term forecasts point to immediate upside potential. Notably, cryptocurrency analyst Ali Martinez , in a December 12 X post , identified a bull flag pattern on XRP’s chart, which suggests XRP could rally to $4 in the near term. $XRP appears to be forming a bull flag! Still, the TD Sequential recently presented a sell signal on the 4-hour chart, which leads me to believe #XRP may see a brief correction before a breakout above $2.46 that could send the price to $4! pic.twitter.com/L8zwMYT1Rb — Ali (@ali_charts) December 12, 2024 Martinez highlighted $2.46 as a key breakout level to confirm the pattern and noted that any short-term pullback could present a buying opportunity for traders looking to capitalize on the next upward move. That being said, XRP’s recent breakout, coupled with strong technical indicators and improving market sentiment, presents a bullish outlook for the digital asset. A decisive close above $2.52 could mark the beginning of XRP’s next major rally, with analysts projecting targets of $4 in the near term and $8.76 in subsequent moves. At $4, XRP’s market cap would rise to approximately $228.75 billion, surpassing Tether’s ( USDT ) valuation while remaining behind Ethereum (ETH), which currently holds a market cap of $471.63 billion. However, at $8.76, XRP’s market cap would surge to around $500.97 billion, surpassing Ethereum and solidifying its position as the second-largest cryptocurrency behind Bitcoin ( BTC ), which currently holds a market cap exceeding $2 trillion. Supported by rising derivatives interest and Ripple’s expanding ecosystem, XRP remains a key asset to watch as it positions itself for further gains in the ongoing market recovery. Featured image via Shutterstock The post Technical analyst reveals XRP short-term price targets amid potential breakout appeared first on Finbold .
Pi Network price has had a great run this year as anticipation of the upcoming mainnet launch happened. The coin has risen by 80% even though its volatility has increased significantly in the past two months. Technicals suggest that the Pi coin price could explode higher or even triple in the coming months. Pi Network Price Chart Points To More Gains The Pi coin price IoU has had an eventful performance this year. It initially started the year at $33 and then surged to $122.04 in March as the crypto bull run intensified after the approval of spot Bitcoin ETFs. It then retreated and bottomed at $29.3 in September and went parabolic to near $100 in November. Jasmy then crashed and bounced back to $90. This price action happened mostly because of the performance of Bitcoin, the biggest crypto in the industry. It also happened as the Know Your Customer (KYC) verification continued. Technicals suggest that the Pi Network price has more upside as we predicted last week. In that article, we looked at the daily chart, which showed that it was forming a series of higher highs and higher lows. The weekly chart shows that the coin has been in a steady uptrend and is now hovering slightly above the middle line of the regression channel. It is also slightly below the key S/R level at $63. Also, the Awesome Oscillator indicator has moved above the zero line. The AO is a popular indicator that measures an asset’s momentum by comparing the current momentum and the onger one. An AO above the zero line is seen as a bullish sign. The Relative Strength Index (RSI), a popular momentum indicator, has also moved above 50. Therefore, a bullish breakout could see it rise to the year-to-date high of $130, followed by the all-time high of $184, which is about 3x higher than the current level. In addition to this target being the Pi coin’s all-time high, it is also identified by measuring the size of the channel and measuring it from the upper side of the trendline. Pi Network Price The stop-loss of this trade is at $35. A drop below that level will point to more downside, potentially to the next support at $25. Pi Coin Mainnet Launch Ahead The main catalyst that may drive the Pi coin price higher is an announcement on when the mainnet launch will happen. The mainnet launch will essentially move Pi from an enclosed mainnet to a full mainnet where users can interact with it. It also means that Pi holders will be able to sell their coins. Odds are that the complete mainnet launch will happen soon since the KYC verification will end on December 31st. The other details needed for the launch have also happened. For example the Pi Network ecosystem has grown, while the external environment is doing well, with Bitcoin price being in a strong uptrend . The post This Pattern Hints Pi Network Price Could More Than Triple appeared first on CoinGape .
XRP could face a supply squeeze soon, fueled by notable market activity. Recent data showed a significant outflow of XRP by whales from one of the top exchanges. Market sentiment
Binance is expanding its accessibility and utility by integrating Valve (VANA) across multiple services, giving users a variety of options to interact with the token on its platform. Binance Expands Valve (VANA) Ecosystem to Futures Platforms Starting December 16, 2024, 14:30, VANA will be available for subscription under Binance Simple Earn Flexible Products, allowing users to earn rewards by holding VANA in their accounts. Binance Margin Margin Trading: VANA will be introduced as a new borrowable asset in both Cross Collateral and Isolated Collateral with the VANA/USDT pair. This feature will be available on December 16, 2024 at 17:00. VIP Access: Binance VIP 7 – VIP 9 users will get early access to borrow VANA via Cross Margin approximately 30 minutes before general availability. Risk Advisory: Binance reminds users that newly listed tokens may exhibit high volatility and urges investors to implement sound risk management strategies. Binance Futures Sürekli Sözleşmeler: Binance Futures, 16 Aralık 2024’te saat 16:30’dan itibaren 75x’e kadar kaldıraç oranına sahip USDⓈ Teminatlı VANA Sürekli Sözleşmesi sunacak. This comprehensive presentation underscores Binance’s commitment to supporting Valve (VANA) as a versatile asset within its ecosystem. For up-to-date details on collateralizable assets, trading limits, and collateral ratios, users are encouraged to visit Binance’s official platform resources. *This is not investment advice. Continue Reading: Bitcoin Exchange Binance Announces It Will List a New Altcoin on Futures! Here Are the Details
XRP News: Digital asset investment products continue to record massive inflows, with $3.2 billion in inflows last week. This was the 10th consecutive inflows amid massive interest from institutional and retail investors. Notably, XRP also saw record buying of $145.8 million , an increase from $134.3 million in the previous week amid XRP price rally. XRP News: Institutions Buy $145 Million XRP Coin CoinShares research report on December 16 revealed that digital asset investment products saw $3.2 billion in net inflow last week. Also, the inflows this year have surpassed $44.5 billion. Bitcoin and Ethereum recorded $2 billion and $1 billion in inflows last week. Surprisingly, XRP continues to witness high inflows amid institutional demand. The odds for XRP ETF launch in the U.S. have increased significantly due to Donald Trump’s crypto-friendly administration and SEC Chair Gary’s resignation. Bitwise, 21Shares, Canary Capital and WisdomTree have filed applications, seeking approval from the U.S. SEC. In addition, the crypto community is positive about the end of Ripple vs SEC lawsuit after Gensler’s exit. The government agency will file its principal brief by January 15. Some believe Gensler can bring issues for Ripple similar to Binance recently. Ripple CLO Stuart Alderoty slammed Gensler for using the same failed arguments in Binance lawsuit. Rise in Demand For Bitcoin, Ethereum, and XRP Bitcoin and Ethereum investment products continue to see rising demand as prices rally. BTC price hit a new all-time high of nearly $106,500 today. Ethereum price also broke above $4000 level momentarily, before sliding to the $3900 level. Other countries such as Switzerland, Germany, Canada and Australia are also witnessing a rise in inflows. As per the report, “Blockchain equities saw inflows of US$124m, the largest since January this year, driven by growing investor confidence in improving Bitcoin miner margins.” Analysts Predicts XRP Price to $3 Popular analysts are bullish on XRP price easily breaking above the $3 mark amid recent news including upcoming RLUSD stablecoin launch by Ripple. Popular analyst CrediBULL Crypto said “Structure on XRP here looks so freaking clean and bullish, it’s actually insane.” He predicts XRP price will easily trade above $5 in 2025. He suggests traders to avoid looking at lower timeframes, “big picture is incredibly and unequivocally bullish.” Source: CrediBULL Crypto Crypto Tony in an Elliot Wave analysis of XRP price revealed that it has rebounded from $2.91. In the weekly timeframe, the graph showed bull pressure developing again towards $3. Meanwhile, Whale Alert reported that a whale has moved 800 million worth $1.92 billion from Binance to an unknown wallet. This confirms whales are massively bullish on Ripple’s native coin. 800,000,000 #XRP (1,927,321,529 USD) transferred from #Binance to unknown wallet https://t.co/fOCWqJhcru — Whale Alert (@whale_alert) December 16, 2024 XRP price fell 2% in the past 24 hours, with the price currently trading at $2.36. The 24-hour low and high are $2.34 and $2.47, respectively. However, the trading volume has increased by 13% in the last 24 hours, indicating a rise in interest among traders. The post XRP Records $145 Million Inflow, Ripple’s Coin Price to Hit $3? appeared first on CoinGape .
Ever since Donald Trump’s win in the US election, the crypto market has risen to newer and newer heights, and this week is no different from the rest. It started with the Bitcoin price hitting multiple new ATHs and top altcoins witnessing new gains. Moreover, this resulted in the last four months favoring high returns for the token, with November being the most bullish. Even December is on the same trajectory with investors’ greedy sentiments, but that all could go in vain if this week’s US Economic events did not favor the market. Top 5 US Economic Events of The Crypto Market This Week This week (December 16 to December 21) will witness some of the biggest US Economic events, which could heavily influence Bitcoin price and the entire market. There’s the US FOMC, Powell’s Speech, PCE Data, and many others, which can influence all the major financial markets. However, if things stayed in favor, the bullishness could continue, especially around BTC, as Bitcoin hit ATH at $106.4k earlier in the day and is moving towards $120K next. Key Events This Week: 1. S&P Global Services PMI data – Monday 2. November Retail Sales data – Tuesday 3. Fed Interest Rate Decision – Wednesday 4. Q3 2024 GDP Data – Thursday 5. November Existing Home Sales data – Thursday 6. November PCE Inflation Data – Friday Are you… — The Kobeissi Letter (@KobeissiLetter) December 15, 2024 1. Fed Interest Rate Decision The US FOMC meeting is scheduled for this Wednesday , December 18, 2024. This will discuss the US’s economic conditions and further rate cuts. The Fed has already implemented a 25 bps rate cut earlier, and many reports, like the CME FedWatch Tool, foresee a 96% chance of another 25 bps Fed rate cut this week. 2. S&P Global Services PMI Data The week will begin with S&P Global’s Services PMI report on Monday. This data will display the performance of the US services sector, which is an important aspect of the US economy. The previous month’s report states the data at 56.1, but this could drop to 55.0 this month, as the sector is struggling slightly. 3. November Retail Sales data After the PMI, the Bitcoin price will tackle the November retail sales report. October made a slight recovery of 0.3%, but the expectation is high for November with users’ holiday spirit, bringing the data between 0.2% and 0.4%. 4. Q3 2024 GDP Data Hitting Crypto Market The GDP Data for Q3 2024 is due this Thursday, which may showcase a negative growth, especially after considering the Q2 report, which saw a 4.9% growth. Analysts see this as the result of the consumer’s spending and increased business investments. Moreover, they anticipate that this drop will make adjustments in trade balances. Another important report, November’s existing home sales data, will also come on Thursday. However, the reports seem bad on the charts already. October already witnessed a 1.4% drop, and a 2% drop in November would not be surprising. 5. November PCE Inflation Data Lastly, the November PCE inflation report can impact the crypto market, based on the CPI data reports. Economists foresee the November PCE price index to rise 0.2% after October’s 0.3% increase. This gets clear with last week’s US PPI data, which was 3% , better than expected. Will This Become a Turning Point For Crypto Market? This week is surrounded by many key US economic events, which could impact the crypto market in both directions. Beginning with the S&P Global Services PMI data and November Retail Sales data at the starting days and FOMC meeting Q3 2024 GDP data & a few more later, the market might witness minor fluctuations, which could burden the ongoing Bitcoin price rally. This is why , the investors need to closely monitor these reports and changing trends to analyze the possibility of further trajectory and plans accordingly. The post Top 5 US Economic Events That Could Shake Crypto Market This Week? appeared first on CoinGape .
The post 3 Emerging Cryptos Predicted to Surpass Ethereum and Solana in 2024 Gains appeared first on Coinpedia Fintech News As the crypto market shifts, fresh players are emerging with the promise of remarkable returns. Ethereum and Solana have led impressive gains, but now three new cryptocurrencies are catching the eye of investors. These digital assets show the potential to outpace the giants in 2024. Exploring their strengths could reveal the next big opportunities in crypto. DOGEN: The Ultimate Memetoken For Real Alphas Who Always Win Imagine living a dream life — posh cars, fat stacks of cash, and women who turn heads. That’s the DOGEN lifestyle ! If you’re the kind of guy who’s always looking to level up, you need to check out DOGEN. This meme token is for the real alphas who always win . HODL Like a Beast, Dominate the Market This thing is about to explode! We’re talking about a 700% surge before the presale even wraps up — and that’s just the beginning. DOGEN is heating up to those insane thousand-fold gains that memetokens are famous for this season. Get in early, and watch the others try to keep up while you’re already at the top! Missed Out on WIF, Popcat, or Ponke? DOGEN is the new alpha on the Solana blockchain , running with the big dogs like BONK, WIF, and Popcat — all of which blew up with 1000% gains at some point. Right now, DOGEN’s flying under the radar, but it’s about to set new records in this bull run. You don’t want to miss out on this one. Got that DOGEN spirit? Good, ‘cause they’re holding an airdrop ! All you gotta do is flex on social, stack tokens during the presale, and start building your DOGEN army with your referral link. For every recruit, you’ll be snatching a fat 20% of their Golden Points from token buys. So what are you waiting for? Grab some DOGEN and dominate the crypto world! HBAR and Hedera Hashgraph: Fast, Secure, and Efficient Transactions Hedera Hashgraph is a decentralized network using hashgraph technology instead of traditional blockchain, aiming for improved efficiency and higher capacity. HBAR is its native currency, used for transaction fees and securing the network through a Proof of Stake mechanism. The absence of mining offers environmental benefits and lower transaction costs. Despite challenges in gaining traction against established blockchains, Hedera’s backing by significant industry players brings optimism. Its unique technology promises a more secure, fast, and cost-effective alternative for transactions and smart contracts. In the current market cycle, HBAR’s ambition and potential make it an attractive option for those interested in innovative digital platforms. JasmyCoin: Empowering Data Sovereignty in the Internet of Things JasmyCoin (JASMY) is a cryptocurrency developed by Tokyo-based Jasmy Corporation, an Internet of Things (IoT) provider specializing in data buying and selling. The platform combines IoT technology with blockchain to restore and protect individual data sovereignty, giving users full control over their personal information. Jasmy enables secure, trustless data exchange between IoT devices and decentralized protocols, transforming personal data into valuable assets. By decentralizing data storage using edge computing and the InterPlanetary File System (IPFS), the project promotes a democratized data model where data is securely protected and owned by users. With a focus on data security and user control, JasmyCoin holds potential in the evolving landscape of IoT and blockchain technology. Conclusion HBAR and JASMY may offer less short-term gains. DOGEN, for those seeking luxury and success, stands out with expected 700% growth by presale’s end and potential thousand-fold returns this altcoin season. Following tokens like BONK, WIF, and Popcat, DOGEN builds a community of leaders, offering real benefits and exclusive perks for early adopters. Site: https://dogen.meme/ Twitter: https://x.com/dogenmeme Telegram: https://t.me/Dogen_Portal