Home Blog Page 1042

SUI Price on the Edge: Will It Sink Below $4?

Albert Brown
-
0
SUI Price on the Edge: Will It Sink Below $4?

Will the price of SUI hold above $4 to avoid a breakdown toward the $3.50 demand zone?

Amid growing volatility in the crypto market, SUI struggles to maintain its price above the $4 psychological mark. This critical level serves as a key battleground for bulls and bears. After a bearish Sunday, SUI’s price is hovering around the $4 mark.

With a market cap of $12 billion, SUI remains the 15th largest cryptocurrency. However, the increasing bearish pressure signals the potential for a quick drop below the $4 level. Traders are cautious as this psychological threshold faces repeated tests.

SUI Price Analysis

In the 4-hour chart, the SUI price trend reveals an ongoing correction phase. The pullback forms an expanding channel pattern within two crucial zones. This pattern highlights the ongoing tug-of-war between buyers and sellers.

SUI Price Chart
SUI Price Chart

The demand zone lies just below the $3.50 mark, extending from $3.48 to $3.44. On the upside, the supply zone spans from $4.80 to $4.85. The current pullback phase has resulted in a nearly 18% drop from the all-time high. Now, SUI is testing the 200 EMA line. This key support level could play a crucial role in determining the next price movement.

Additionally, the growing bearish pressure has caused a negative crossover between the 50 and 100 EMA lines. Currently, SUI’s price faces resistance from the trend line, struggling to break out to the upside. The rejection highlights the strength of the bearish forces at play.

SUI Price Targets

With the price rejecting higher levels, the altcoin will likely close below the 200 EMA line, increasing the likelihood of a retest of the support trend line near the $3.65 mark. Such a move could attract further selling pressure, deepening the correction.

On the bullish side, a breakout above the expanding channel pattern could challenge the overhead supply zone. A decisive breakout here may reignite optimism among traders.

Solana Price Analysis: Breakout Run Eyes $200 on December 31

Albert Brown
-
0
Solana Price Analysis: Breakout Run Eyes $200 on December 31

With Solana’s price trend struggling for a bullish comeback, will the highly anticipated New Year rally lead to a breakout?

Amid growing anticipation for the New Year rally, Solana remains firmly positioned above $190. While the SOL price has struggled to break the $200 mark, a triangle pattern could determine its next move.

Following a positive recovery last week, an extension of Solana’s bullish trend could lead to a breakout rally. Will this breakout propel Solana into a sustained bull run beyond the $200 psychological barrier?

SOL Price Analysis

As Bitcoin hovers near the $93,000 support level, Solana marks a positive week. After a 5% recovery last week, Solana continues to show gains, with a 1.44% surge today.

Solana Price Chart
Solana Price Chart

The positive recovery counters the 2.84% drop seen on Sunday. Additionally, the recovery has sparked a bullish cycle within a triangle pattern on the 4-hour chart.

With an early reversal before hitting the support trendline, Solana is now trading at $192.50, forming two consecutive green candles on the 4-hour chart. The sudden surge in buying pressure has kept the 4-hour RSI line in a positive trend.

The MACD and signal lines have avoided a bearish crossover during the recovery, suggesting that technical indicators continue to support a positive outlook for Solana.

Solana Price Targets

Solana hints at a triangle breakout rally in the 4-hour chart as the underlying forces turn bullish. The unleashed momentum in SOL Price will likely drive the bullish forces to the $200 psychological barrier soon tomorrow, December 31.

This will mark Solana’s first critical resistance, as it has faced reversal twice in December. In case of an extended rally, the uptrend is likely to challenge the long-coming resistance trendline near the 38.20% Fibonacci level at $209.11. 

On the flip side, a loss of momentum is likely to test the support trendline of the triangle pattern at $187.44.

“Intel Is Officially Dead”: Cardano Founder Quips at Supposed Jim Cramer Call, but There’s a Catch

Okoya David
-
0
“Intel Is Officially Dead”: Cardano Founder Quips at Supposed Jim Cramer Call, but There’s a Catch

Cardano founder Charles Hoskinson humorously suggests Intel is dead following a supposed bullish call from CNBC Mad Money host Jim Cramer.

After several famous wrong calls, including about Bear Stearns over a decade ago as well as Silicon Valley Bank and Signature Bank in the past year, CNBC’s Mad Money show host Jim Cramer has become a meme on X as critics believe he is wrong all the time.

A problem with this infamy, however, is that his words can often be taken out of context for the sake of sensationalism, with critics quick to take the piss. Cardano founder Charles Hoskinson appears to be the latest such critic.

Cardano’s Hoskinson Pounces on Supposed Jim Cramer Intel Call

Cardano founder Charles Hoskinson has recently taken a swipe at a supposed call from TV pundit Jim Cramer.

“Well that’s it, Intel is officially dead,” Hoskinson quipped in a Monday, December 30 X post. The post links to a Yahoo Finance-hosted article with a headline suggesting that Jim Cramer had claimed that the chip maker was completely fine despite a terrible year that has seen its share prices decline by over 50%. 

Hoskinson’s post on the supposed Jim Cramer call has unsurprisingly sparked a flurry of similar reactions, with one user describing the pundit’s supposed backing as the proverbial “final nail in the coffin” for Intel.

However, there is one problem with these comments.

Out of Context 

While the headline from the article linked by Cardano’s Hoskinson appears to suggest that Cramer is confident in Intel’s prospects, a closer look at the aticle reveals that it is actually the opposite.

The statement quoted in the article’s headline, which, by the way, originates from an August 12 episode of Mad Money, was made in sarcasm. In the four-month-old show episode, Cramer actually asserted that it would be ill-advised to get in bed with Intel.

So, aligning with the critic’s view of Cramer’s predictions, this statement should actually be positive for Intel. But reality suggests that making market bets solely on this narrative may be foolhardy.

The Inverse Cramer ETF, which tracks the pundit’s predictions to take the opposite position, is down 8.3% year-to-date (YTD).

So, is Intel dead or not? This remains to be seen, but analysts suggest that the imminent appointment of a new CEO and revitalization plans offer short-term boosts even though it may take longer to resolve more significant issues, such as its ability to take on competitors like Nvidia.

Expert Sets XRP Price Target Once a Resolution of Ripple vs. SEC Lawsuit Comes

Sam Wisdom Raphael
-
0
Expert Sets XRP Price Target Once a Resolution of Ripple vs. SEC Lawsuit Comes

A market commentator presents what XRP price could rise to once there is a resolution of the legal battle between Ripple and the U.S. SEC.

The ongoing case between Ripple and the U.S. Securities and Exchange Commission (SEC) has impacted XRP. With the case now in its appeal phase, market participants and analysts speculate about the potential effects of its resolution on XRP price. 

Notable XRP advocate, Digital Asset Investor (DAI), recently presented an optimistic outlook. He disclosed a commentary from an AI chatbot suggesting that XRP could reach new all-time highs following the case’s conclusion.

The Ripple vs SEC Legal Battle

For context, after years of litigation, a pivotal ruling came on July 13, 2023. Judge Analisa Torres declared that XRP is not a security, marking a major turning point for the asset’s regulatory standing. This decision had a notable impact on XRP’s market value last year.

However, following the final judgment in August 2024, the SEC responded by filing an appeal on Oct. 17, challenging portions of the ruling. As part of the appeal process, the securities agency is required to submit its opening brief by Jan. 15, 2025. 

Nonetheless, some believe the forthcoming SEC leadership, with the Donald Trump nominee Paul Atkins possibly at the helm of affairs, could bring the case to an abrupt end. They expect this resolution to have possible consequences for XRP.

DAI’s Optimistic XRP Price Projections

Despite this optimism, the extent of XRP’s potential uptrend following the possible resolution remains unclear. As a result, Digital Asset Investor (DAI) sought insights from an AI chatbot.

Drawing comparisons to the market reaction to the SEC’s charges, DAI asked how much the favorable resolution could impact XRP price. Notably, when the SEC lawsuit began in December 2020, it caused XRP price to plummet from $0.50 to $0.17, marking a 66% drop. 

Applying this historical percentage to the upside, the AI chatbot calculated that XRP price could experience a similar increase once the lawsuit concludes. Based on XRP’s current price around $2.18, a 66% increase would raise its value to $3.62. This figure represents a new potential all-time high. 

XRP Price Digital Asset Investor on X
XRP Price | Digital Asset Investor on X

DAI suggested that the possible resolution of the case could actually be the catalyst that would push XRP to a new all-time high. He predicted a possible surge in FOMO once this occurs.

While this projection is based on past trends, the AI chatbot stressed that other factors could influence XRP price movement. Notably, regulatory developments, market sentiment, and Ripple’s business progress are among the major factors.

Interestingly, several market analysts believe XRP price could claim higher levels if market conditions align perfectly. In October, EGRAG Crypto suggested that the worst-case scenario for XRP price in the current bull market is $6. Most recently, analyst Alex Clay set an ultimate target of $10. 

Shiba Inu Lead Reacts as Team Hints at Upcoming Launch of New Game

Lele Jima
-
0
Shiba Inu Lead Reacts as Team Hints at Upcoming Launch of New Game

Shytoshi Kusama, the lead developer of the Shiba Inu ecosystem, is enthusiastic about the upcoming launch of Shiba Inu’s new racing game, Lap Dogs. 

In an X post today, Kusama reacted to the upcoming launch of Lap Dogs, noting that the game marks yet another win for the Web3 gaming space. This comes as the Shiba Inu ecosystem team plans to expand the Web3 gaming industry with the imminent launch of Lap Dogs. 

In a follow-up comment, the Shiba Inu leader expressed pride in the team behind SHIB: The Metaverse for creating the game.

Lap Dogs Prepares for Imminent Launch 

For context, the gaming arm of the Shiba Inu ecosystem, Play with Shib, caused a stir within the community when it posted the Lap Dogs trailer. 

The X handle playfully suggested that all Shiba Inu-themed characters ‘are goodest bois.’ The community was asked to prepare and discover which of these characters is the fastest in the dog racing game. 

“Lap Dogs is coming soon. Stay tuned…” it remarked. 

Roles of Shiboshi and SHEboshi on Lap Dogs 

Notably, Shibarium Updates (@Shibizens) provided more insights into the game, highlighting its connection with Shiba Inu’s metaverse project, SHIB: The Metaverse. 

According to the post, Lap Dogs highlights Shiba Inu’s NFTs—Shiboshi and SHEboshi—as the game’s central characters.

The post emphasized that the racing game aims to extend the utility of Shiboshi and SHEboshi beyond mere collectibles and boost their values within the Shiba Inu ecosystem. Shibarium Updates hinted at upcoming plans for customizing and breeding these tokens, which will eventually transform them into essential assets. 

Interestingly, the X handle mentioned that players will soon have the opportunity to test the game without owning NFTs. This will grant them early access to the game before the team integrates the full NFT features into Lap Dogs. 

Furthermore, it encouraged the community to anticipate the upcoming launch of the dog racing game, where they will experience the gameplay firsthand. In the meantime, there is no official date for the game’s release. 

Shiba Inu Games 

Once launched, Lap Dogs will become the fourth game to go live in the Shiba Inu ecosystem, following Shiba Eternity, Agent Shiboshi, and Shiboshi Rush. 

Typically, these games are first launched on mobile before they are transitioned to Shibarium, the cryptocurrency’s Layer-2 blockchain. At the moment, Shiba Eternity is undergoing beta testing on Shibarium, while Shiboshi Rush and Agent Shiboshi are still in mobile versions. 

Lap Dogs will likely follow this trend by first launching on mobile before transitioning to Shibarium. 

Expert Says XRP Still Incredibly Undervalued Despite Rising Valuations

Abdulkarim Abdulwahab
-
0
Expert Says XRP Still Incredibly Undervalued Despite Rising Valuations

Crypto commentator Zack Rector recently shared his views on the undervaluation of Ripple and the digital asset XRP despite rising valuations. 

According to Rector, even with Ripple’s increasing valuation heading into 2025, the company and XRP remain significantly undervalued, presenting promising investment opportunities.

Ripple’s Implied Valuation Hits $20 Billion

For much of 2024 and since 2022, Ripple has been trading at an implied valuation of between $7 and $10 billion on platforms like Linqto. However, Rector pointed out that this figure has more than doubled, with Ripple now valued at approximately $20 billion on these same platforms. 

While this upside reflects increased investor interest and optimism, Rector believes the company is still undervalued at its current price.

Rector explained that Ripple’s stock is not publicly traded on the NASDAQ or the New York Stock Exchange. Instead, the equity is available on pre-IPO private markets, primarily to accredited investors and institutions looking to gain early exposure to the company before it eventually goes public.

Ripple’s Escrow Holding: A Major Contributor to Valuation

According to Rector, a key component of Ripple’s undervaluation is the company’s XRP holdings in its escrow account. The escrow currently holds about 40 billion XRP.  At the current price of $2.08 per XRP, this stash is worth around $83 billion.

Rector highlighted that when XRP was trading at $0.50 for most of 2024 and the previous years, Ripple’s escrow holdings were worth $20 billion. Accordingly, the company’s $7 to $10 billion valuation appeared mismatched, given the worth of its escrowed XRP. 

Now, with XRP trading at $2, the situation has shifted notably, but it still illustrates how the company’s valuation does not reflect the full value of its holdings.

XRP Still Undervalued, Could Reach $48

While XRP’s market position has improved since last month, numerous market commentators believe the $2 price remains a steal. Analyst Ali Martinez, who recently highlighted XRP’s low valuation despite its recent 485% surge in November, predicted two lofty price targets for it.

His conservative target is for XRP to reach $8.40 and a highly optimistic target of $48 in 2025. Martinez argues that XRP’s breakout from a seven-year downtrend supports these ambitious outlooks. Greater prices for XRP would translate to a higher worth for Ripple’s escrow holdings.

Ripple’s Expanding Business and Future Growth

Beyond XRP, Rector emphasized that Ripple’s business is diversifying and growing. The company is expanding into various sectors, such as stablecoins and custody services. 

Specifically, Ripple launched its own stablecoin this month. With the growing success of stablecoin businesses—such as Tether, which has outperformed financial giants like BlackRock in profit—Rector believes Ripple’s future growth potential remains substantial.

Bitcoin (BTC) Price Takes Bearish Turn, Targets $90,742

Albert Brown
-
0
Bitcoin (BTC) Price Takes Bearish Turn, Targets $90,742

With a bearish start to this week, Bitcoin remains near the $93k support. Will BTC’s price see an extended correction phase?

Bitcoin has dropped to $93,300, following a bearish Sunday that resulted in a 24-hour decline of 1.71%. At the current market price of $93,390, Bitcoin’s market capitalization stands at $1.84 trillion.

Under the bearish influence on Bitcoin’s price, the crypto market has witnessed liquidations totaling $167.94 million over the past 24 hours. This figure is significantly higher than the typically lower trading volumes observed over weekends.

As liquidations surge, the tightening bearish pressure on the BTC price trend raises concerns about a potential breakdown. Could this lead to a test of the $90,742 support level?

Bitcoin Price Analysis

On the 4-hour chart, Bitcoin’s price action shows a failed bullish attempt to break above the $99,514 resistance level. This resulted in a bearish reversal from the 100 SMA line, followed by a retest of the critical support near the $93,000 psychological level.

Bitcoin Price Chart
Bitcoin Price Chart

The Doji formations near the support level reflect an attempt to absorb the increased selling pressure. However, the lower-high formation warns of a potential breakdown rally.

Additionally, the failed bullish move has increased the likelihood of a bearish crossover between the 100 and 200 SMA lines. Meanwhile, the 4-hour RSI continues to show a minor bullish divergence.

Institutions Witness Outflows

As BTC price volatility increases, institutional support continues to fluctuate. Over the past week, Bitcoin spot ETFs in the U.S. saw an outflow of $387.54 million. This broke a streak of three consecutive bullish weeks and ended the week with a net outflow of $297.75 million.

BTC Price Targets

With institutional inflow declining, the increasing liquidations and high volatility suggest the possibility of a breakdown rally for Bitcoin. If Bitcoin closes strongly below the $92,654 support level, the price is likely to test the $90,742 support.

Conversely, a bullish reversal could push Bitcoin towards the 50 SMA line at $95,647. A close above the 50 SMA could signal a move towards $100k.

Here is Why Dogecoin to $23 is Possible: Top Analyst

Okoya David
-
0
Here is Why Dogecoin to $23 is Possible: Top Analyst

A prominent market analyst expects Dogecoin (DOGE) to skyrocket by more than 7,000% this cycle, citing historical price fractals.

Meteoric price predictions for Dogecoin (DOGE) continue to come hard and fast despite recent crypto market struggles. In the latest instance, one analyst has doubled down on his bullish calls while outlining the possibility of an even higher price target.

Dogecoin (DOGE) to $23?

Prominent crypto analyst Ali Martinez has set yet another ambitious price target for Dogecoin, the leading doggy-themed meme coin.

In an X post on Saturday, December 28, Martinez contended that DOGE could trade as high as the $23 price point in the current market cycle. The most recent call follows a previous prediction of a potential run to the $18 price barely a week ago.

Dogecoin (DOGE) Price Fractals

Martinez based his latest projection on the concept of fractals. The theory of fractals suggests that beneath the seemingly chaotic nature of markets, there are repeating patterns and trends, which also replicate themselves within smaller scales indefinitely.

Martinez combines the concept of fractals with the Fibonacci expansion tool on DOGE’s weekly candle chart to suggest that the asset’s price has replicated the same pattern over the years.

For years, Dogecoin will trade within a descending triangle and break out to the upside to form new highs in a bull cycle. Per the analyst’s chart, these new highs have historically been around the 1.618 and 2.272 Fibonacci levels from cycle lows.

Dogecoin weekly candle chart

Dogecoin weekly candle chart. Source: Ali MartinezIn the 2017/2018 bull market, this pattern saw DOGE surge over 20,500% from lows of $0.00009 in 2015 to highs of $0.01855 by January 2018, corresponding with the 1.618 Fibonacci level. In 2021, a repeat of this pattern saw a nearly 55,000% surge to all-time highs of $0.73451, corresponding with the 2.272 Fibonacci levels from 2020 lows of $0.00134.

As Martinez highlighted, this year, DOGE has broken out from a similar descending triangle pattern on the weekly chart with 1.618 and 2.272 targets at $4 and $23, respectively, representing over 1,100% and 7,150% gains from current prices of $0.31715, respectively.

Per Martinez’s chart, DOGE’s breakout to new highs is typically punctuated by two significant corrections that look like miniature descending triangles of their own, lasting anywhere between 20 and 43 weeks combined. The chart suggests that the market is potentially in one of these correction phases at the time of writing.

Ali Martinez is not the only analyst to try to predict Dogecoin’s peak using the Fibonacci tool and historical price action. Using similar concepts, prominent analyst Javon Marks set a more conservative $2.28 initial price target for DOGE in the current market cycle, aligning with his set Fibonacci level of 1.618.

XRP Above $2 Is About to Secure Its Highest Yearly Close in History

Sam Wisdom Raphael
-
0
XRP Above $2 Is About to Secure Its Highest Yearly Close in History

Despite the ongoing XRP price consolidation, market data shows the altcoin is on track to secure its highest yearly close in history.

Notably, XRP has faced a bearish spell since it reclaimed the seven-year peak of $2.9 on Dec. 3. The altcoin collapsed nearly 19% three days after this top, and has continued to witness pressure from the bears despite occasional recovery attempts.

XRP’s Battle at $2

Amid this bearish phase, analysts have more reason to be confident in XRP’s price prospects. In a recent commentary, market watcher Dom confirmed that XRP might actually be on track to secure a historic close on the yearly timeframe.

For context, XRP has always faced resistance at the $2 price mark since it captured it in the 2017/2018 market rally. Despite its meteoric run during this cycle, XRP was unable to secure a yearly close above the $2 price.

Particularly, in 2017, XRP witnessed a massive increase of 33,066%, after it soared from the starting price of $0.00678. Nonetheless, it closed 2017 with a price of $1.99, below the $2 mark despite previously soaring to a peak price of $2.47 in December 2017. 

Meanwhile, in 2018, XRP collapsed 82.49% and closed the year at $0.3484. From this level, the altcoin failed to reclaim the $2 mark for three years. Its next attempt at hitting this price was in April 2021, when it soared to a peak price of $1.96 and then faced intense resistance, unable to reach $2.

XRP on Track to Close First Yearly Candle Above $2

Now, after seven years, XRP recovered the $2 price level in December 2024, soaring to a top of $2.9 following the uptrend it registered last month. While the bears have since triggered massive selling pressure, XRP has held firm above $2. 

XRP 12M Chart
XRP 12M Chart

With just a day left to end 2024, if XRP maintains the $2 level, this would mark the first yearly close above $2 in its entire history. Most market analysts believe this event would be historic, possibly marking the start of an explosive run for XRP.

Notable crypto trader Steph also called attention to this potential bullish close, highlighting its importance for the market. “We’re all gonna be super rich,” the market watcher suggested in a recent disclosure on X. 

Prevalent Selling Pressure

However, XRP appears to be facing intense pressure, as the bears attempt to push it below $2 before the close of 2024. With a 1.15% slump this morning, XRP now trades at an 11-day low of $2.06, retesting the lower trendline of a bull flag formed on the daily timeframe. 

XRP 1D Chart
XRP 1D Chart

Notably, the bulls need to defend the bull flag’s lower trendline zealously, as a breach underneath it would ultimately lead to a drop below the $2 price territory for XRP, invalidating its push to close its first yearly candle above it.

Meanwhile, despite the bearishness in December, XRP has sustained a 5.47% monthly gain, forming a bullish green inverted hammer candle. This candlestick suggests potential bullish reversal, having appeared during the latest downtrend. 

XRP Monthly Inverted Hammer
XRP Monthly Inverted Hammer

For the uninitiated, the long upper wick indicates buyers tried to push prices higher, but sellers pulled back some gains. Still, the close above the open indicates growing buyer strength. If XRP can hold the $2 level at the close of December, the next candlestick could mark the start of the anticipated price reversal.

Shiba Inu Lead Says Next Year Will Be Epic, Outlines Schedule for His 44 Episodes of New Podcast

Lele Jima
-
0
Shiba Inu Lead Says Next Year Will Be Epic, Outlines Schedule for His 44 Episodes of New Podcast

Shiba Inu lead, Shytoshi Kusama, expresses his excitement for SHIB’s future, particularly focusing on the cryptocurrency’s transformative potential next year. 

With 2024 coming to a close in less than 48 hours, Kusama took to X to give Shiba Inu community members a hint of what to expect in 2025. 

Kusama’s Upcoming Podcast 

The enigmatic leader shed light on his upcoming podcast, which he suggests will showcase Shiba Inu’s potential. 

According to him, the podcast will feature 44 episodes, and he intends to communicate with the broader crypto community through it. He hinted at plans to talk about the technologies the team has built and how they integrate with the Shiba Inu ecosystem, like the TREAT token. 

Notably, this upcoming podcast will enable the community to understand the team’s plans for the SHIB token cryptocurrency and how Shiba Inu’s innovations can “save the world” by creating real-world impact.

Kusama Outlines Weekly Schedule for Podcasts and Activities 

Furthermore, Kusama provided insight into his weekly schedule for next year, focusing mainly on his podcast and other activities. He emphasized that his Monday podcasts will focus mainly on memes. 

However, on Tuesdays, he will illuminate TREAT and detail how the upcoming token fits into the Shiba Inu ecosystem. 

Wednesdays will be set aside for the publication of The Shib magazine, and no podcast will be scheduled for that day. Kusama will resume the podcast on Thursday, during which he will mainly talk about Shiba Inu tech. 

During his Friday podcast, Kusama plans to recognize some loyal Shiba Inu community members, while Saturdays will focus mainly on spirituality. 

There will be no podcast on Sundays, as this day is reserved for Shiba Eternity tournaments. Notably, the highly-anticipated podcast will begin today. 

Next Year Will Be Epic for Shiba Inu 

Interestingly, he expressed enthusiasm about 2025, indicating that “next year will be epic” for Shiba Inu. The Shiba Inu leader stated that he is excited to share some things the team has built. 

This might span from partnerships to new project launches that could further broaden the Shiba Inu ecosystem utility. The community is expecting the team to release the TREAT token for public use by next year. 

Kusama recently called the community’s attention to the imminent launch of the token in a December 27 update. 

Following the launch of SHIB: The Metaverse early access, Kusama emphasized that “it is time to start talking about TREAT.” However, he did not disclose when the token will launch for public use. 

1...1,0411,0421,043...2,662Page 1,042 of 2,662