Ethereum’s current market dynamics indicate a significant moment for investors, as the asset approaches critical resistance points. Recent analysis shows that Ethereum experienced a notable 160% increase in large transactions,
Belleville, New Jersey, Mayor Michael Melham said the mysterious drone sighting may be related to missing radioactive material.
Solana (SOL) has been holding steady above a crucial demand level near $210, a key area that could ignite a massive bull run. After reaching an all-time high (ATH) on November 22, Solana has experienced a 23% retracement, testing investor confidence. However, analysts remain optimistic, with many expecting a significant upward move in the coming weeks. Related Reading: Ethereum Forming A Symmetrical Pattern – Key Resistance At $4,100 Renowned analyst Jelle recently shared a technical analysis highlighting Solana’s strong potential. According to Jelle, the monthly chart for SOL is primed for an “absolute monster run,” indicating that the current consolidation phase may be laying the groundwork for a powerful breakout. This view aligns with the broader sentiment that Solana’s resilience above $210 could act as a springboard for the next phase of its rally. As one of the leading altcoins in the crypto market, Solana has attracted attention for its robust performance and potential to lead the next leg of the bull market. With the price now consolidating after a sharp pullback, all eyes are on SOL’s ability to maintain its critical support and reclaim momentum. Whether Solana can deliver on its bullish promise will be a key focus for traders and investors alike in the coming weeks. Solana Holds Key Demand Solana is currently trading above a critical level for this cycle—the $210 mark. This price point, which previously acted as a significant resistance, has now flipped into a vital support level, setting the stage for Solana’s next potential rally. The importance of this level cannot be overstated, as it represents a key area where buyers are stepping in to defend SOL’s bullish momentum. Renowned analyst Jelle recently shared a compelling technical analysis on X, emphasizing Solana’s strong outlook. According to Jelle, Solana’s monthly chart is primed for what he described as an “absolute monster run.” His analysis highlights how SOL’s price is now testing its 2021 all-time high (ATH) as support, a critical juncture that could determine its trajectory in the weeks to come. Jelle’s simple yet powerful chart indicates that if Solana manages to push decisively above the $210 level, it will confirm the strength of this support and potentially trigger a massive bull run. This rally could result in impressive gains for SOL, positioning it as a standout performer in the crypto market. Related Reading: Bitcoin Breaks ATH Pushing Back Into Price Discovery – BTC To $130K? For now, all eyes are on Solana’s ability to sustain its momentum and break higher. As it consolidates above this essential level, traders and investors are closely monitoring its next moves, anticipating the possibility of a historic price surge. Price Action Suggests A Big Move Soon Solana is trading at $221, maintaining its strength above the critical $210 support level. This resilience has bolstered confidence among investors, as SOL’s price action aligns bullishly across all time frames. Solana is gearing up for a major rally, but it must first overcome the $245 resistance level to confirm the uptrend. Market dynamics indicate that SOL is in a prime position for upward momentum. Unlike other assets that may show signs of hesitation or potential consolidation, Solana exhibits a well-defined price structure that strongly favors a breakout. The lack of bearish signals further solidifies this outlook, as there is little indication of an imminent correction or prolonged sideways trading. Related Reading: ONDO Exchange Inflows Grow – Volatility Ahead? If SOL successfully breaches the $245 resistance with strength, it could trigger a wave of buying pressure, propelling the price to new heights. This setup has many traders eyeing the next potential levels for Solana, with the broader market sentiment favoring continued gains. Featured image from Dall-E, chart from TradingView
Fuel Network has announced the initiation of its Genesis Drop, distributing 1 billion FUEL tokens, which represents 10% of the total supply, to over 200,000 eligible wallets. The airdrop is set to be claimable starting December 19, 2024, and will remain open until January 19, 2025. The distribution is divided into several categories, including Phase 1 Pre-Depositors receiving 287 million FUEL, Testnet Users getting 64.2 million FUEL, NFT Connoisseurs allocated 125 million FUEL, Fuel Bridgoors receiving 200 million FUEL, Ecosystem Glass Eaters with 138.8 million FUEL, Open Source Community with 175 million FUEL, and Fuelet Magisters with 10 million FUEL. This initiative aims to reward the Fuel community and is part of a broader plan to allocate 20% of the total FUEL supply to community members, with an additional 5% allocated for community expansion efforts and another 5% for future initiatives. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
Ethereum’s belief phase and positive on chain metrics signals a potential breakout.
Ethereum gaming platform Nifty Island has launched its ISLAND token. Here’s what you need to know about the airdrop, tokenomics, and more.
Bloomberg analysts forecast a wave of crypto ETFs, featuring XRP and Solana, in 2025 amid SEC changes and market shifts. The post Bloomberg analysts predict wave of crypto ETFs in 2025, targeting XRP, Solana, and HBAR appeared first on Crypto Briefing .
MicroStrategy holds over 439,000 Bitcoins worth $46 billion. Should the price of BTC plunge, CryptoQuant CEO Ki Young Ju believes the firm may not face bankruptcy, stating it will only happen “if an asteroid hits Earth.” The company continues to profit, with a 72.4% yield this year and a stock surge of 540% in 2024. Led by Michael Saylor, MicroStrategy, following a recent 15,350 BTC purchase, raised its Bitcoin treasury to a total of 439,000 BTC, which accounts for over 2% of BTC’s total supply. With the firm’s growing position, there are now rising concerns that MicroStrategy could be forced to go bankrupt and liquidate its holdings should Bitcoin suffer a major drop. Ki Young Ju’s perspective Ki Young Ju explained that MicroStrategy could only face bankruptcy if Bitcoin’s price falls to $16,500. He pointed out that the company is holding around $46 billion worth of Bitcoin, but there is only $7 billion of debt. The CryptoQuant CEO also mentioned that Bitcoin has never dropped below $30,000 for long-term holders like they never felt that way unless there would be an unexpected drop. He stated, “MicroStrategy only goes bankrupt if an asteroid hits Earth,” not bothering about a Bitcoin crash to $16,000. MicroStrategy only goes bankrupt if an asteroid hits Earth. For 15 years, #Bitcoin has never dropped below the cost basis of long-term whales, which currently stands at $30K. $MSTR debt is $7B and its $BTC holdings are worth $46B. Based on BTC alone, the liq price is $16.5K. pic.twitter.com/cTwwTGYif4 — Ki Young Ju (@ki_young_ju) December 17, 2024 He believes that Bitcoin has become more stable and irreplaceable because more institutions are getting involved. This support from institutions makes Bitcoin less likely to experience a huge price drop and also it has strong future stability. On the other hand, critics like Peter Schiff believe MicroStrategy could go bankrupt if Bitcoin crashes, as the company’s huge Bitcoin holdings are a risky gamble. He thinks a market downturn could cause major financial problems. Despite this, MicroStrategy is still aggressively buying more Bitcoin. Recently, it bought 15,350 BTC , bringing its total holdings to 439,000 BTC, worth about $27.1 billion at an average price of $61,725 per Bitcoin. The company is still committed to its Bitcoin strategy, despite the criticisms. MSTR joins Nasdaq-100 MicroStrategy recently made it to the Nasdaq-100, which could lead to increased investment and easier access to capital. The company’s confidence in Bitcoin’s future is clear from its ongoing investment strategy, including the “21/21 plan” to raise $21 billion to acquire more Bitcoin. MicroStrategy’s Bitcoin operations have produced a 72.4% yield this year. This has resulted in a profit of 136,965 BTC, worth $14.66 billion at the current price of over $107,000 per coin. Additionally, the company’s stock has surged by more than 540% in 2024, showing strong investor confidence in its Bitcoin strategy. A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.
The post Shiba Inu (SHIB) Price Prediction for December 18 appeared first on Coinpedia Fintech News Despite ongoing price consolidation in Shiba Inu (SHIB), the popular second-largest crypto meme coin by market cap has gained significant attention from crypto giants, as reported by the on-chain analytics firm IntoTheBlock. Today, December 18, 2024, IntoTheBlock revealed that the large transaction volume of SHIB has skyrocketed by 238.58% in the past 24 hours. Source: IntoTheBlock Shiba Inu (SHIB) Bearish Outlook This notable volume appeared as SHIB began experiencing selling pressure and the formation of a bearish price action pattern near a resistance level. However, the meme coin’s bearish outlook emerged during a period when major cryptocurrencies like Bitcoin (BTC) and XRP witnessed notable upside rallies. SHIB Technical Analysis and Upcoming Level According to CoinPedia’s technical analysis, SHIB has formed a bearish inverted cup and handle price action pattern on the daily time frame and is currently on the verge of a breakdown. However, this is a resistance level where the meme coin has formed this price action pattern. Source: Trading View Based on historical price momentum, if SHIB breaks down from the bearish pattern and closes a daily candle below the $0.0000258 level, there is a strong possibility it could drop by 20% to reach the $0.0000206 level in the coming days. However, it has been more than a month since SHIB has experienced any significant price gain or drop; it seems to be in continuous price consolidation. But the recent price action indicates potential downside momentum, selling pressure, and a price decline in the coming days. On the positive side, SHIB’s Relative Strength Index (RSI) currently stands at 55, indicating that it is still below the overbought area. This technical indicator suggests that the asset has enough room to soar in the coming days. Current Price Momentum Currently, SHIB is trading near $0.000026 and has experienced a price decline of 2.65% in the past 24 hours. During the same period, its trading volume dropped by 17%, indicating lower participation from traders and investors amid a bearish outlook.
The U.S. Senate has seen a surge of opposition against SEC Commissioner Caroline Crenshaw’s renomination, reflecting ongoing tensions within the crypto industry. This unprecedented grassroots response from over 52,000 advocates