Pepe coin price has experienced a sharp crash, undoing most of the gains made earlier this month when it surged to a record high. While the price has stabilized in the past few days, a rare chart pattern on the daily chart points to a potential 35% crash. Pepe’s open interest in the futures market also points to more downside in the near term. Pepe Coin Price Bearish Flag Points To More Downside The Pepe Coin price is grappling with substantial bearishness, and it has crashed below the 50-day Exponential Moving Average (EMA) on the daily chart. This crash happened after the coin formed a doji candlestick chart pattern on December 9 when it hit a record high. A doji is a reversal candle made up of a small body and long upper and lower shadow, Pepe price is now slowly forming a bearish flag chart pattern, a common continuation sign. This pattern has a long vertical line that resembles a flag pole. A small rectangle-like consolidation follows it, often resulting in a strong bearish breakout. If this happens, the coin will likely drop to $0.00001437, its lowest level last week. The Pepe Coin price will then drop to the following key support level: $0.00001190, its highest on September 29, about 35% below the current level. The risk of further downside is that the coin formed a double-top chart pattern at $0.00002563 and a few false breakouts, which pushed it to a record high. Conversely, a move above the resistance at $0.000020, its highest level on December 21 and slightly higher than the 50-day moving average, will cancel the bearish flag pattern and lead to more gains, potentially to the double-top pattern at $0.00002563. Pepe Coin Price Pepe Futures Open Interest Has Crashed One factor that could emphasize the bearish Pepe coin price forecast is that futures open interest has crashed hard in the past few days. This interest peaked at $359 million earlier this month when the coin peaked at an all-time high. Pepe’s interest has now dropped to over $123 million, its lowest level since November 4. Futures interest is a crucial data that looks at unfilled orders. In some instances, a sharp crash in these orders can be a sign of waning demand. However, in other cases, a low interest can lead to more gains, as we saw on November 5 when it dropped to $108 million. Pepe Open Interest Pepe price sell-off will likely accelerate if Bitcoin price continues its recent sell-off. Historically, most altcoins have followed the price of Bitcoin, as we experienced last week when most of them plunged as BTC retreated below $100,000 . The post Rare Pepe Coin Price Pattern Hints 35% Crash appeared first on CoinGape .
Musk the Manipulator could turn early investors into multi-millionaires, like other memecoins, such as Shiba Inu (SHIB) and Dogecoin (DOGE), did. Musk the Manipulator (MUSKMANI), a Solana memecoin launched today, is set to explode over 14,000% in price in the coming days. This is because MUSKMANI is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and cause its price to rally, which will benefit investors who buy before these new exchange listings. Currently, Musk the Manipulator can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days. Early investors in SHIB and DOGE made astronomical returns, and Musk the Manipulator could become the next viral memecoin. Musk the Manipulator launched with over $8,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains. How to Buy To buy Musk the Manipulator on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Musk the Manipulator by entering its contract address – DZpfk5LaLrnP6vSFJnLSMAopUuTJGiFk7543rQxh4ids – in the receiving field. If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others. Early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price. If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner. The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum. This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like MUSKMANI. Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Binance has announced the launch of the Bio Protocol (BIO) coin. Farming for BIO will start on December 24, 2024, for ten days. Continue Reading: Binance Launches Bio Protocol Coin and Announces Farming Details The post Binance Launches Bio Protocol Coin and Announces Farming Details appeared first on COINTURK NEWS .
Trading since Wednesday , December 18, proved an uncomfortable reminder of the persistent volatility – perhaps even fragility – of even the strongest cryptocurrency bull runs. Despite the significant downturn that is, by press time on December 23, proving difficult to shake off, few investors and analysts believe that digital assets have topped this cycle and, indeed, most now look to the coming weeks and months for a renewed rally. Technical analysis ( TA ), as applied to Stellar ( XLM ) by the popular on-chain expert Ali Martinez, appears to back the mid and long-term optimism, and the token might, in fact, be poised for an imminent upswing. XLM chart showing the TD Sequential buy signal. Source: Ali Martinez Why XLM is poised for a rally Specifically, in a December 22 X post, Martinez explained that a technical analysis tool called TD Sequential is sending a buy signal for XLM, offering a chance for a rebound toward – and possibly beyond – the recent highs near $0.55. TD Sequential is used to gauge whether the current trend will persist or experience a reversal based on the historical performance of the asset. Martinez, however, added that there is a prerequisite for such a rally – a sustained holding above the critical support zone at $0.33. Fortunately for Stellar bulls, the token is trading somewhat comfortably above the level with XLM price today of $0.35977. XLM 7-day price chart. Source: Finbold Why an imminent XLM rally is not guaranteed Still, it is worth pointing out that the sum of the many technical analysis tools and indicators is not yet decisively bullish on Stellar. For example, the relative strength index ( RSI ), despite being on the optimistic side, remains relatively neutral at 43.78. Some tools – such as the volume-weighted moving average (VWMA) and the Hull moving average – remain fixed on the ‘sell’ side. Ultimately, despite TD Sequential’s ‘buy’ flash, XLM’s true test is yet to come as the token approaches its nearest resistance level near $0.38 – an uncertain prospect at press time as the last 24 hours of trading led to a 2.07% price decline. Featured image via Shutterstock The post Stellar (XLM) set for an imminent rally appeared first on Finbold .
As cryptocurrency markets gear up for a transformative 2025, a pro-crypto US Congress and global regulatory shifts are set to catalyze remarkable growth. With a burgeoning interest in Bitcoin, Ethereum,
Tron founder Justin Sun has made significant Ethereum sales amid a sharp downturn in the cryptocurrency’s price. Over the past seven days, Sun has sold 50% of his Ethereum holdings, valued at approximately $143 million, following Ethereum’s rejection at the $4,000 level. Blockchain analytics platform Spot On Chain reported that Sun recently redeemed 39,999 ETH from liquid staking platforms like Lido Finance and EtherFi. These funds were subsequently deposited into HTX, fueling speculation about his strategy. Justin Sun’s recent market activity has added to Ethereum’s (ETH) woes this week. The coin has shed 17% in the last seven days and is trading at $3,304. Analysts are predicting further declines below the $3,000 mark in the coming days. Sun’s Ethereum liquidation strategy: Profits or losses? According to Spot On Chain, since November 10, Sun has offloaded a total of 108,919 ETH, worth $400 million, at an average price of $3,674 per ETH. Many of his transactions have occurred near local market highs, which shows that the Tron founder is executing a calculated profit-taking approach. 🚨 Over the past 7 days, Justin Sun ( @justinsuntron ) redeemed 39,999 $ETH ($143M) from Lido Finance and Etherfi and deposited it all to #HTX . 🔄💰 pic.twitter.com/pUSDQgZtRC — SmartWhalesAI (@SmartwhalesAI) December 23, 2024 Moreover, reports indicate Sun is unstaking an additional 42,904 ETH, valued at $139 million, from Lido Finance. This could lead to further selling pressure in the days ahead. Between February and August 2024, Sun spent an estimated $1.19 billion to accumulate 392,474 ETH, distributed across three separate wallets. Despite the recent sell-offs, his holdings have yielded a 29% return on investment, translating to a profit of approximately $349 million. Market sentiment and price movement Ethereum’s price action has reflected bearish sentiment across the broader cryptocurrency market. Over the past 24 hours, ETH has declined an additional 2.19%, with trading volume dropping by 8.57%. Prominent crypto analyst IncomeSharks attributed the sluggish activity to a “low volume weekend” and heightened stock market volatility. Despite this, the On-Balance Volume (OBV) indicator suggests that recent buyers are still in profit and providing some price support. Source: TradingView However, the overall market outlook remains pessimistic, particularly with large holders like Sun continuing to sell. Analysts note that this could exacerbate downward pressure on Ethereum’s price, especially if key support levels are breached. Technical analysis highlights bearish and bullish scenarios Ethereum is navigating a critical phase as 2024 draws to a close. The cryptocurrency reached an annual high of $4,101 earlier this year but has since fallen below pivotal thresholds. ETH is currently trading below the $3,500 mark and the 100-hourly simple moving average (SMA), with technical insights pointing to a short-term bearish trend . Per recent analysis from TradingView, resistance levels at $3,420 and $3,500 are pivotal for a potential recovery, while key support levels include $3,200, $3,120, and the psychologically significant $3,000 mark. A break below $3,000 could accelerate the bearish momentum, while a successful climb above $3,420 might set the stage for further gains toward $3,650. Source: TradingView Amid the bearish signals, some analysts see a glimmer of optimism. ‘I am Crypto Wolf,’ a notable crypto analyst, highlighted the potential formation of an inverse head-and-shoulders (iHS) pattern on Ethereum’s price chart. According to this outlook, the cryptocurrency could experience a bullish continuation if the pattern is completed successfully. Source: TradingView Additionally, Ethereum continues to attract institutional interest, particularly through exchange-traded fund (ETF) products, which could mean the market is optimistic about a price rally in the near future. Recent data shows that in the last trading week, running from December 16 to 20, total net ETH ETF inflows hit $62.73 million, adding to a positive momentum for four consecutive weeks. A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.
Hyperliquid’s native token, HYPE, which had been on an upward trend over the past few days, experienced a 20% price dip today, trading at $26.54, while its market cap dropped below $9 billion. Hyperliquid (HYPE) surged to a record high…
Hyperliquid’s native token, HYPE, which had been on an upward trend over the past few days, experienced a 20% price dip today, trading at $26.54, while its market cap dropped below $9 billion. Hyperliquid ( HYPE ) surged to a record high of $34.96 on Dec. 22, rising from its airdrop listing price of $11 and achieving nearly 200% cumulative gains. Its market cap surpassed $11.5 billion at the time, securing a spot among the top 20 coins by market cap, according to CoinGecko. Launched in June 2023, Hyperliquid DEX has gained traction due to its innovative approach to eliminating gas fees for transactions. The platform offers low fees on perpetual contracts and trade openings, with the revenue reinvested into the ecosystem through token buybacks or by supporting ecosystem vaults. HYPE’s price rallied after one of the most highly anticipated token airdrops of the year. Hyperliquid distributed 310 million tokens to its users, marking the largest airdrop in crypto history. However, the altcoin’s price has faced a setback due to growing concerns within its community, making HYPE the top trending coin on CoinGecko. HYPE dropped by 26% from its all-time high reached yesterday, hitting an intraday low of $25.77 on De. 23. The slump brought its market cap down to $8.87 billion, making it the 23rd largest crypto asset at press time. You might also like: Happy Cat, Hyperliquid, Virtuals lead as Bitcoin steadies above $100k Why did HYPE tank? HYPE’s price dropped after community members noticed that a major whale, identified as X user laurentzeimes, began selling over 1 million HYPE tokens. The sales were executed using Hyperliquid DEX’s TWAP (Time-Weighted Average Price) mechanism, which splits large orders into smaller transactions over a set period to minimize slippage. So far, within the ongoing TWAP execution, the whale has sold 175,000 tokens. The whale sell-off coincided with concerns over North Korean hackers actively trading on the platform, with cybersecurity expert Tayvano speculating in an X post that this activity might be an attempt to test a vulnerability in Hyperliquid’s security. The expert noted that the issue is especially alarming given that Hyperliquid operates with only four validators, raising further concerns. Following the discovery, Hyperliquid has experienced over $42 million in USDC outflows — its largest since launch — likely exacerbating HYPE’s price plunge per data from Dune Analytics. However, analysts remain optimistic despite the recent hiccups, predicting that HYPE could resume its climb and potentially reach a new all-time high. In a Dec. 23 post , analyst CJ, with 92.8k followers, expressed a bullish outlook for HYPE, suggesting it could climb towards a $40 target if it breaks above the key $30–$32 resistance level. He noted that while the short-term trend may appear bearish, a drop to $18–$22 could offer traders a strong buying opportunity. However, CJ added that if HYPE’s price rebounds to around $32.3 in the coming days, it would invalidate his prediction. Previously, crypto.news analysts predicted a similar price target, stating that HYPE needs to rise above its all-time high of $34.8 to confirm a bullish breakout, potentially reaching $40. This outlook is supported by Hyperliquid’s strong performance in the DeFi sector, where it leads the decentralized perpetual trading market with a weekly trading volume that peaked at $98.6 billion last week and a TVL that recently surpassed $3.4 billion for the first time this month, up from $188 million in October. Read more: Bitcoin price is still undervalued, MVRV indicator shows
Cardano (ADA) experienced extremely low volatility on Sunday as the market stabilized after a rough week. ADA saw a significant 15% drop in value over the past seven days. However, recent price movements suggest a potential bullish reversal despite this decline. ADA has rebounded after testing a major support level around $0.80 , reigniting optimism among analysts. Popular crypto analyst Ali Martinez shared his views on ADA’s future trajectory following this week’s pullback, noting the current market scenario reflects the 2020 bull cycle. “ADA is following an eerily similar pattern to its previous cycle. Back in 2020, the first major correction after the bull rally began happened at the very same time as the correction we are experiencing today.” He tweeted Sunday, predicting the price could surge to “$6 next”. Notably, in January, the pundit pointed out the same pattern, noting that if history repeats itself, ADA could surge to $7. Elsewhere analyst “Liqprodigy” highlighted the recent appearance of a potential double bottom pattern on ADA’s weekly chart, which often signals a shift from a downtrend to an uptrend. “ ADA 1week chart has broken out from double bottom pattern & is now retesting the green horizontal line. Once we get a bounce back from the horizontal line, we can see huge pumps,” he tweeted, pointing to a target of $3 if it successfully rebounds from this key level. Notably, Michaël van de Poppe, an analyst with over 750,000 followers on X, also sees ADA’s price potentially stabilizing around $0.75, calling it the “ most optimal entry level for ADA if the markets are experiencing a broader correction.” In a recent post, van de Poppe shared his expectation for ADA to reach a new all-time high next year. Key technical indicators, including the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) crossing above the 50 level, also show bullish signals, further fueling optimism. Additionally, whale activity plays a key role in ADA’s market movements. Over the past month, ADA whales have accumulated hundreds of millions of tokens, as highlighted by analyst Ali Martinez in several posts on X. Similarly, analyst “Givesfux” observed a surge in whale transactions this week, noting on Tuesday, “Despite the pullback, whales are on the move—687 transactions over $1M in the last 24 hours. Historically, whale activity = bullish sentiment.” This suggests that large investors remain confident in Cardano’s long-term potential, which could support future price growth. ADA traded at $0.91 at press time, reflecting a 4.27% increase in the past 24 hours.
Bitcoin (BTC) could face further downward pressure in the coming weeks, presenting a potential “dip buying” opportunity for long-term investors, according to Andre Dragosch, European Director and Head of Research at Bitwise Asset Management. Bitcoin Faces More Turbulence After Biggest Weekly Drop Since August, Experts Warn Bitcoin, the world’s largest cryptocurrency by market value, fell 8.8% last week to around $95,000, marking its steepest decline since August, amid hawkish signals from the Federal Reserve. The Fed’s statement, which included fewer rate cuts planned for 2025 and a reaffirmation of the ban on BTC holdings, contributed to a broad risk-off sentiment in the markets. Traditional financial assets were also affected, with the S&P 500 losing 2% while the dollar index rose 0.8% to its highest level since October 2022. Treasury yields rose sharply, with the 10-year note gaining 14 basis points, signaling higher borrowing costs and increasing the appeal of fixed-income investments over riskier assets such as cryptocurrencies. Dragosch, who is known for correctly predicting that BTC would rise above $100,000 in the summer, has become cautious, citing tightening financial conditions and a resurgence of inflationary pressures. “While further pain is likely in the short term, given Bitcoin’s supply shortages and ongoing structural tailwinds, this could represent an intriguing buying opportunity.” Despite the short-term negativity, Dragosch remains optimistic about Bitcoin's long-term prospects. BTC’s fixed supply cap and growing adoption as a store of value could position it as a strong hedge against monetary instability. *This is not investment advice. Continue Reading: A New Warning Came From the Expert Who Correctly Predicted Bitcoin Will Exceed $100,000! Here Are the Details