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Flare Faces 7% Drop After 100-Day EMA Rejection: Can Bulls Push Beyond $0.016?

Albert Brown
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Flare Faces 7% Drop After 100-Day EMA Rejection: Can Bulls Push Beyond $0.016?

With an intraday pullback on the verge of undermining a breakout rally, will Flare sustain dominance at $0.016 for a prolonged uptrend?

As the bleeding crypto market inches closer to the $2 trillion mark, Flare (FLR) drops 7%, resulting in a bearish piercing candle. After a brief bullish rally, signs of exhaustion point to a potential decline toward the $0.014 support level.

The key question now is whether Flare can achieve a close above the consolidation range, signaling the potential for a breakout.

Flare Uncertain Near $0.016

Following a massive correction after failing to sustain dominance above the $0.050 psychological mark, FLR found crucial support at $0.014. During the downfall, FLR’s price action formed a falling wedge pattern. 

COINBASE:FLRUSD Chart Image by Trojan69420
FLR chart

In the consolidation phase, which ranged from $0.013 to $0.016 from early August to early October, FLR managed to break above the falling wedge.

On October 2, FLR surged by 20%, producing a bullish engulfing candle that surpassed the overhead resistance. This move pushed the price past the 50-day EMA and the $0.016 mark, reaching a 24-hour high of $0.017 on October 3.

However, profit-taking and supply pressure from bullish exhaustion led to a 7% intraday drop, bringing the price back down to the 50-day EMA. FLR is currently trading at $0.01614 and struggling to secure a close above its resistance ceiling.

Will Breakout Run Cross $0.020?

As the overhead resistance limits the breakout rally and leads to a failed breakout run, the possibility of a downtrend continuation within the consolidation range has resurfaced. 

However, the growing bullish divergence in the daily RSI line teases a bullish continuation with a gradual higher-high and higher-low formation. According to Fibonacci retracement levels, the next key resistance sits at $0.02320.

In addition, the 100-day and 200-day EMAs, at $0.01791 and $0.02077, respectively, are important dynamic resistance levels to watch. On the downside, FLR has support at $0.01426, $0.01341, and the psychological $0.012 level.

SUI Bull Run at Risk: Indicator Signals Likely 20% Crash to $1.50

Albert Brown
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SUI Bull Run at Risk: Indicator Signals Likely 20% Crash to $1.50

With an analyst highlighting bullish exhaustion in SUI, will a bear cycle drop the prices to $1.50?

Amid the bear market, the resilience in the SUI price trend stays strong. The altcoin continues the uptrend, one of the few key performing coins in a bear market. 

However, the massive supply overhead at $2 and the risky market conditions warn of a correction. Will this correction disintegrate the September (SUIptember) bull run gains?

SUI Enters High-Risk Waters

Sustaining a growth of 11.34% in the past seven days, SUI marks a remarkable achievement in maintaining a bullish trend in the crypto bear market. The SUI token is currently trading at $1.8842.

SUI Price Chart
SUI Price Chart

Following yesterday’s bullish engulfing candle, which saw a 5.60% jump, the SUI token shows an intraday gain of 1.13%. However, the rejection from a 24-hour high of $2.0092 indicates mounting selling pressure at higher levels.

Reflecting the massive supply overhead, the chances of SUI’s downfall are increasing. However, the ongoing trend reversal rally has caused almost a 250% jump in the past 60 days. 

SUI Price Chart
SUI Price Chart

In the 4-hour chart, SUI is forming a rising channel pattern. Currently, it’s pulling back from the upper boundary of the channel, signaling the possibility of a bearish reversal.

Adding to the negative sentiment, the RSI indicator on the 4-hour chart shows a bearish divergence. While SUI has been moving higher within the channel, the RSI is declining, approaching the neutral 50 line, which could be a warning of weakening momentum.

Analyst Sounds Sell Signal for SUI

Crypto analyst Martinez Ali recently tweeted a sell signal for SUI, citing exhaustion in its bullish trend. Using TD Sequential indicators, Ali highlighted this signal in the 3-day chart, following SUI’s 145% rally since September. This suggests a potential pullback may be on the horizon.

Key Price Targets for SUI

A bearish breakdown of the rising channel could halt SUI’s recovery rally as the negative cycle tests critical support levels. On the 4-hour chart, the 50, 100, and 200 EMAs provide key support at $1.73, $1.57, and $1.36, respectively.

In the daily chart, a drop below the $1.7492 level could trigger a fall toward the $1.50 psychological support. This would be a massive 20% decline from its current value.

On the upside, a continuation of the bullish trend would face resistance at the $2 and $2.16 levels.

Raoul Pal Says Bitcoin at $73,777 by November Feels Likely per Wyckoff Model

Albert Brown
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Raoul Pal Says Bitcoin at $73,777 by November Feels Likely per Wyckoff Model

Bitcoin is currently in a retracement, but multiple analysts and experts remain bullish, citing accumulation trends.

After surpassing $66,000 just a week ago, Bitcoin has experienced a sharp decline, briefly slipping below $60,000 on October 2. Despite this, market experts remain hopeful that the broader upward trend will prevail. 

Raoul Pal’s Bullish Sentiment

One notable proponent of Bitcoin’s continued growth is Raoul Pal, the Founder and CEO of Global Macro Investor and Real Vision. Pal recently expressed support for a bullish analysis shared by MartyParty on X, which predicts Bitcoin reaching new heights despite the recent downturn. 

Pal, known for his long-term optimistic outlook on Bitcoin, agreed that the leading cryptocurrency is poised for another surge, especially as the U.S. elections approach in November.

This perspective aligns with MartyParty’s technical analysis, which uses Wyckoff’s Accumulation model to suggest that Bitcoin is in the midst of a long-term accumulation phase. Following MartyParty’s observation, Pal says it feels right to him.

Bitcoin Per Wyckoff Accumulation Phases 

For context, according to Wyckoff’s Accumulation model shared by MartyParty, Bitcoin has been following a predictable path, with several distinct phases that hint at a potential breakout.

The current phase, known as Phase D, shows the last point of support before an upward move, with prices fluctuating between $56,700 and $66,500. This phase has coincided with the recent geopolitical issues in the Middle East, causing a retracement which Bitcoin is yet to recover from.

However, this phase sets the stage for the eventual breakout, which the analyst predicts could push Bitcoin past $73,777. MartyParty projects the U.S. elections in November as a potential catalyst in Bitcoin’s price movement to this level. Past this level, the analyst sees Bitcoin surging to levels over $80,000.

BTC Linked to Global Liquidity Trends

Beyond technical analysis, Raoul Pal has consistently linked Bitcoin’s price movements to global liquidity trends. Pal’s previous prediction suggests that rising global liquidity could push Bitcoin’s price toward $90,000 by November. 

He emphasized that Bitcoin’s growth remains closely tied to the expansion of the global money supply, particularly M2. This correlation has been observed historically and continues to drive optimistic forecasts for the Bitcoin’s future performance.

Analysts See Path for Solana to Surpass $260 Peak in Coming Months

Albert Brown
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Solana faces a recent price decline, but analysts remain optimistic, forecasting a potential breakout and new highs.

Since this week, Solana has experienced a significant price dip, dropping from its monthly high of $161.62 to trade under $137. In the last 24 hours alone, Solana has posted a 4.48% decline.

The price drop comes amidst recent criticism from former intelligence contractor Edward Snowden. Despite this downward trend, analysts remain divided on Solana’s future performance. Some forecast bullish momentum, while others foresee a further decline.

Bullish Forecast for Solana

In a Tuesday post, crypto analyst Jelle, who has 91,000 followers, expressed optimism about Solana’s potential to break out of its current consolidation phase. According to Jelle, despite the broader crypto market experiencing months of price declines, Solana has not broken down from its consolidation range. 

Image
Solana chart by crypto analyst Jelle

He noted that the asset is gradually pushing toward higher levels, citing the possibility of a new leg upward. Jelle’s analysis identified two consolidation zones: one between $125 and $165 and another at lower levels between $80 and $100, where the asset previously hovered before its breakout.

Jelle projected Solana could surpass its all-time high of $260 and create a fresh peak within the next three months.

Other market participants, such as Conor Kenny, have echoed similar sentiments, drawing parallels between Solana’s current trajectory and its impressive performance in mid-2021. Kenny projects Solana could attain a peak at $1,000 per coin.

Crypto commentator Davinci Jeremie made a similar optimistic projection for Solana’s price, agreeing it could reach $1,000 per token.

Bearish Calls on Solana

Amid these positive outlooks for Solana, some analysts remain cautious about Solana’s near-term performance. Matthew Dixon, CEO of Evai, suggests the likelihood of further decline.

According to Dixon, the recent upward move from Solana’s chart low is corrective rather than impulsive. He explains that last night’s price drop invalidated a potential bullish scenario, as Solana fell below the first wave’s invalidation level. Based on this, Dixon concludes that lower prices are likely ahead.

Though Dixon did not specify a target price, other analysts have warned that Solana could fall as low as $55. These views substantially contrast with more optimistic forecasts about Solana.

Shibtoshi Says Shiba Inu Can Sustain Recent Price Surge

Elendu Benedict
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Shibtoshi Says Shiba Inu Can Sustain Recent Price Surge

Pseudonymous Shiba Inu proponent and SquidGrow founder Shibtoshi has tipped Shiba Inu to continue the recent uptrend, citing growing traction as a source of the price surge.

In an interview with the Shib Daily, Shibtoshi shared his thoughts on the buzz around the Shiba Inu ecosystem, which has significantly boosted the price of SHIB. For context, SHIB surged over 20% to a six-month high of $0.00002031 on September 28, with on-chain activities growing exponentially.

Uptick Fueled by Supersaturated Bullish Sentiments

Shibtoshi asserted that the growing adoption and utility of the Shiba Inu ecosystem facilitated the recent bullish pull in the SHIB price. The enigmatic SquidGrow founder cited positive sentiments around the launch of the layer 2 scaling network, Shibarium.

According to him, the improved transaction speed and cost-effectiveness that the integration of Shibarium brought to Shiba Inu were evident. Shibtoshi stated that the L2 network brought with it adoption and increased attractiveness to investors and developers.

Furthermore, Shibtoshi stated that the recently adopted burn mechanism, which has increased the amount of SHIB incinerated, and the introduction of the decentralized trading platform ShibaSwap have heightened bullish sentiments on the Shiba Inu ecosystem, driving the recent price surge.

In truth, the Shiba Inu ecosystem has recently improved its utility. The introduction of the liquid staking protocol, in partnership with K9 Finance, has boosted traction to the network. Notably, the launch of the Bonecrusher decentralized application pushed the total value-locked (TVL) on Shibarium to a peak of $7.03 million.

Recent Uptick Sustainable

When quizzed if the recent price surge is sustainable, Shibtoshi affirmed. He pointed to technical analysis and indicators that could suggest a continuance of the uptrend, including moving averages, Relative Index Strength (RSI), and the Bollinger Band.

However, Shibtoshi asserted that the dog-themed memecoin might see slight corrections along its upsurge path. He noted that key resistance levels and Fibonacci retracements would dictate where SHIB will face a tussle.

Notably, SHIB failed to shrug off the resistance at the $0.00002 level, correcting over 22% since then. Nevertheless, expert SHIB KNIGHT stated that the recent retracement was a buying opportunity for whales, predicting the memecoin to surge to $0.00002421. The analyst cited SHIB’s historical performance in October as a factor behind his price call.

Shiba Transcending Memecoin Origin

The SquidGrow founder argued that Shiba Inu has the potential to transcend its meme coin origins and become a crucial player in the crypto sector. He noted that the ecosystem is already showing its determination to do so with its recent integrations and expansions.

Meanwhile, he noted that Shiba Inu needs to sustain its adoption curve and competitiveness in the crypto sector. The SHIB enthusiast suggested that delving into decentralized finance (DeFi), real-world assets (RWA) tokenization, and maintaining user engagement will ensure the long-term success of the Shiba Inu ecosystem.

Notably, integrating these sectors into the Shiba Inu ecosystem will extensively boost SHIB’s price. Analysts predicting that the memecoin’s price will hit a lofty target of $1 have implied that the exponential surge will only be possible if the token’s utility is enhanced.

Analyst Anticipates Dogecoin Retest Reversal to $0.16, But $0.10 Support Remains at Risk

Albert Brown
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Will a post-retest reversal in Dogecoin (DOGE) result in a bounce back from the $0.10 psychological mark?

With the crypto market witnessing waves of supply incoming amid global tensions, meme coins are at crucial support. Dogecoin, the leading meme coin per market cap, rests at a critical level of $0.10. 

With the rising FUD warning of a potential crypto bear market, Dogecoin is facing a crossroads. Can It sustain its position above $0.10?

Dogecoin’s Retest At $0.10

According to Ali Martinez’s analysis, Dogecoin is retesting a falling wedge breakout. It is currently sitting at the broken resistance trendline following a four-day downturn, during which it lost 20% of its market cap.

Dogecoin Price Chart
Dogecoin Price Chart

At the moment, Dogecoin is holding near the psychological level of $0.10, showing an intraday gain of 1.07% from its opening price of $0.10457. A post-retest reversal with a morning star pattern is possible based on intraday price action.

However, broader market selling pressure and increased supply could lead to a bearish continuation. A fall below the resistance trendline would signal a failed bullish breakout and heighten the chances of a continued downtrend.

Bearish Pennant Increases Risk

In the 4-hour chart, a sudden surge in selling pressure has formed a bearish pennant pattern. The downtrend aligns with the Elliott five-wave correction. Dogecoin is now caught within the bearish pennant, with Elliott’s ABC correction at play.

Dogecoin Price Chart
Dogecoin Price Chart

A bullish breakout from this bearish pennant would improve the likelihood of a post-retest reversal of the daily chart’s wedge breakout. Conversely, a bearish pullback below the $0.10 psychological level would diminish the chances of a bullish recovery.

Additionally, the 4-hour chart shows the MACD indicator signaling a potential bullish crossover after a bearish cycle. However, the declining trend in the 50-100-200 EMA could act as dynamic resistance, limiting any potential bullish growth.

Dogecoin Price Targets

Ultimately, uncertainty remains high as Dogecoin hovers on fragile ground. Based on the price action in the daily chart, Dogecoin could face resistance at $0.1130 and $0.14026 if bullish momentum returns following a post-retest reversal.

Meanwhile, Martinez suggested if the $0.10 support level holds, Dogecoin could rebound to $0.16. On the downside, a drop below $0.10 would put the $0.097 and $0.092 support levels at risk.

Ripple Execs and Top Lawyers Say Something Deeper Behind SEC Appeal

Abdulkarim Abdulwahab
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Ripple Execs and Top Lawyers Say Something Deeper Behind SEC Appeal

As the U.S. SEC has officially moved to appeal the rulings in the Ripple lawsuit, prominent figures in the industry, including legal experts and Ripple executives, believe there is more to it than apparent.

Ripple’s Chief Legal Officer, Stuart Alderoty, was the first to raise eyebrows over the SEC’s decision to appeal, pointing out a curious coincidence. Specifically, Alderoty noted that SEC Enforcement Director Gurbir Grewal announced his resignation just an hour before the SEC filed its notice of appeal. 

This timing has led Alderoty to question whether Grewal’s sudden departure as the agency’s top enforcement officer is more than just a coincidence.

Pro-XRP attorney Jeremy Hogan also shared a similar skepticism about the timing of events. Hogan expressed his doubts that the coincidence of Grewal announcing his departure on the same day the agency filed its notice of appeal is a mere chance. 

With a hint of humor, Hogan acknowledged that he might be seen as “kooky” for questioning the timing, but he’s not buying the idea that it’s simply a coincidence.

Meanwhile, Hogan argued that the agency made a “big mistake” by launching an appeal, stressing that the risk far outweighs the returns. 

Something Deeper “Certainly” Behind SEC Appeal — Ripple CEO

Meanwhile, legal experts are not the only prominent figures suggesting that there may be more to the SEC’s appeal than meets the eye. Ripple’s CEO, Brad Garlinghouse, remarked that it “certainly” feels like something more profound is behind it than what is readily apparent.

“The truth—and the corruption—always comes to light eventually,” Garlinghouse said.

In response to the Ripple CEO, crypto enthusiast Jim Pickrell offered a different perspective, suggesting that the SEC may “now have” more information concerning details it couldn’t prove previously during earlier litigation.

The Crypto Basic observed that the SEC filed an appeal soon after Biwise submitted the XRP ETF application.

 

SEC Appeal Means “XRP is Important”

In a separate conversation, XRP critic Jay Kyle suggested that the SEC’s decision to appeal the Ripple case is a testament to XRP’s significance. Jay reasoned that the SEC would not bother litigating a “shit coin” again unless it is precious.

Accordingly, he disclosed that he is “bullish now” on XRP, indicating that the SEC’s appeal has unexpectedly made him optimistic about its prospects.

XRP Still on Track to Reach $6 Despite SEC Appeal: Here’s Why

Sam Wisdom Raphael
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XRP Still on Track to Reach $6 Despite SEC Appeal: Here’s Why

XRP faces a sharp price drop following the SEC’s intent to appeal the Ripple lawsuit ruling, but historical data suggests all hope is not lost.

Following reports of the SEC’s appeal notice, XRP has crashed 17.66% on the weekly charts. The recent drop positions XRP as one of the biggest losers in the crypto market during a period of general market correction. 

However, past movements suggest XRP’s case is not particularly hopeless, and the asset is still capable of reaching new heights. 

Historical Context

For context, historical data shows that XRP reacted in a similar manner when the SEC first sued Ripple and its executives in December 2020 for allegedly carrying out $1.3 billion worth of “unregistered securities sales” involving XRP.

Notably, XRP was trading for $0.55 in the week the charges came up in late December 2020. After the lawsuit began, investors panic-sold their holdings and XRP collapsed 69% within two weeks to hit a bottom of $0.17 that month.

However, XRP’s price stabilized at the start of 2021 amid the drop in the panic sales. This led to a recovery for XRP price. As the crypto market showed signs of a bull phase, XRP leveraged this to surge to a peak of $1.96 in April 2021, surpassing its value before the lawsuit began. 

XRP Historical Data
XRP Historical Data

The $1.96 high of April 2021 marked a 1,052% increase from the $0.17 low of December 2020. XRP took four months after the lawsuit began to recover and hit the $1.96 peak.

XRP Follows Similar Pattern

Now, with the SEC filing the notice of appeal, XRP has taken a similar downturn, currently trading for $0.52. While there are chances of further downside momentum, if the bulls are able to stabilize the price at the $0.52 support, a recovery from this level could lead to impressive gains supposing the 2020/2021 pattern plays out.

If XRP witnesses a similar 1,052% rise from the $0.52 level, its price could surge to around $6. Should the 4-month timeframe materialize, the $6 price could come up in January next year, coinciding with a possible bull run in the broader market.

However, for this recovery to kick off, the market must meet certain conditions. XRP’s price movement follows the broader market direction, and with ongoing economic uncertainties, such as inflationary pressures and geopolitical tensions, the next phase of the bull run might take longer to materialize.

Notably, market veteran Peter Brandt asserted in an earlier analysis that Bitcoin (BTC) remains in a bearish phase despite a recent surge above $66K. Now, BTC has dropped to the $61K region, leading Brandt to suggest the downturn might continue for some time.

Ethereum ICO Whale Offloads Another 19,000 ETH Amid Ongoing Selloff

Elendu Benedict
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Ethereum ICO Whale Offloads Another 19,000 ETH Amid Ongoing Selloff

An Ethereum ICO whale has extended his selling spree to two weeks after offloading 19,000 ETH in the past two days.

In this Ethereum news today, an Ethereum ICO participant has continued to massively dump his Ether bag after awakening from a two-year dormancy a few weeks back. Data from on-chain analytics firm Lookonchain shows that the whale has dumped 19,000 ETH, worth $47.54 million, in the past two days.

Notably, during the Ethereum initial coin offering in 2015, the wallet received 150,000 ETH at the cost of $0.31 per coin in the Genesis block. Interestingly, the value of the Ether he received then has surged from $46,500 to over $358 million.

Whale Dumps Fresh 19,000 ETH

On-chain analysis shows that the Ethereum ICO whale resumed selling ETH on October 1, dumping 4,000 ETH when the asset traded at $2,655. The wallet dumped another 5,000 ETH on the same day, valued at around $12.7 million.

On Wednesday, the wallet continued the spree, dumping $14.7 million worth of Ether (6,000 ETH). Further analysis shows that the wallet sold another 4,000 ETH when the asset’s price dropped to $2,380.

Ethereum ICO Participant Sales
Ethereum ICO Participant Sales

Notably, an earlier report confirmed that the whale sold 12,010 ETH last week. At the time, the wallet dumped Ether worth $31.6 million after a lack of on-chain activity for over two years.

Ethereum Down 10% in October as FUD Escalates

The ICO participant’s sales correlate with a swelling weakness in the Ethereum price. The second-largest crypto asset by market cap has dumped over 10.4% from the $2,655 price top on October 1.

Adding to the market-hostile development in the Middle East, FUD around the Ethereum ecosystem has escalated. Crypto trader Bluntz Capital reacted to the constant sales from ICO participants, noting that “even day 0 eth OGs are jumping ship.”

Another user blamed Ethereum co-founder Vitalik Buterin for the incessant dumps, stating he should “get back to work.” Notably, Buterin and the Ethereum Foundation have recently dumped a considerable amount of Ethereum.

Meanwhile, institutional investors are buying up the dip. Data from Sosovalue shows that the Ethereum spot exchange-traded funds saw an inflow of $14.45 million, with the BlackRock iShare Ethereum Trust (ETHA) buying 7,631 ETH ($18.04 million) yesterday.

At the time of writing, Ethereum was trading at $2,371, down 4.6% in the past 24 hours.

Ripple Considers Filing Cross Appeal in SEC Case; Here’s What to Expect

Lele Jima
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Ripple Considers Filing Cross Appeal in SEC Case; Here’s What to Expect

Ripple CLO Stuart Alderoty says the company is considering filing a cross-appeal in the SEC lawsuit. 

In the ongoing battle between Ripple and SEC, in Ripple news today, The Ripple CLO made the disclosure while reacting to the SEC’s decision to appeal Judge Analisa Torres’ verdict. The SEC filed its notice of appeal in the Ripple case yesterday, a few days before the Oct. 7 deadline.

Notably, the SEC only notified a New York federal court of its decision to appeal its ruling in the Second Circuit of Appeals. However, the commission has yet to file the actual appeal brief. 

Ripple Considers Filing Cross-Appeal 

Nonetheless, Alderoty disclosed that Ripple is considering a cross-appeal, potentially allowing the company to challenge certain aspects of Judge Analisa Torres’ decision. 

Following Alderoty’s statement, FOX Business journalist Eleanor Terrett highlighted two major areas Ripple’s appeal might focus on. According to her, Ripple could challenge Judge Torres’ decision on institutional sales or the $125 million penalty imposed for these transactions.

 

In July 2023, Judge Torres found that Ripple violated securities laws by selling XRP to institutional clients in the U.S. Over a year later, she ordered the company to pay a penalty of $125 million for this violation. Additionally, the judge imposed an injunction on the company’s future sales to U.S.-based institutional clients. 

According to Judge Torres’ final ruling, Ripple must register future XRP-related institutional sales with the SEC before selling the tokens to institutional clients in the United States. Notably, Ripple did not seem pleased with this decision. 

The company commended the judge for drastically reducing the SEC’s proposed fine from $2 billion to $125 million but ignored the injunction aspect of the final verdict. 

What to Expect from Ripple Cross-Appeal   

With Ripple considering whether to file a cross-appeal, Terrett said the company only has a 14-day window to file this notice. According to her, this window starts today, a day after the SEC officially notified the court of its appeal decision. 

Furthermore, the pro-crypto journalist said both Ripple’s potential cross-appeal and the SEC’s appeal would be jointly heard in a single case at the Second Circuit. This would streamline the legal process and ensure the issues raised by both parties are handled within the same case. 

Lawyer Expects Appeal Ruling by Early 2026 

Meanwhile, pro-XRP lawyer Fred Rispoli predicted the timeline for the Second Circuit’s ruling in the SEC v. Ripple case. 

He speculated that the court might issue the appeal verdict by early 2026, over a year from today. However, the lawyer mentioned that the parties can decide to withdraw their respective appeals at any time. 

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