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Cardano (ADA) Breaks Below $0.60: Is a $0.50 Crash Next?

Albert Brown
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Cardano (ADA) Breaks Below $0.60: Is a $0.50 Crash Next?

Cardano (ADA) price breaks under $0.60 and warns a wedge breakdown to shatter $0.50. 

With the rising bearish sentiments in the crypto market, altcoins are in a free fall. Cardano, the 9th biggest crypto in the market, has dropped nearly 26% in the past 7 days. 

Currently trading under the $0.60 mark, it is down by 11% in 24 hours. With its market cap down to $20 billion, is Cardano bound to witness a steeper correction? Let’s find out.

Cardano Fall Inside Bearish Wedge Hits Support Trendline

On the daily chart, Cardano’s price trend continues to decline within a falling wedge pattern. After an intraday dip of 8.06%, Cardano has formed its third consecutive bearish candle.

Cardano Price Chart
Cardano Price Chart

The decline is now testing the local support trendline after breaching another 50% Fibonacci level at $0.6272. Currently, Cardano trades at $0.5918, with a 24-hour low of $0.5810.

With the downward trend continuing within the falling wedge, the Supertrend indicator is showing a highly bearish outlook. However, the Stochastic Momentum Index hints at a potential crossover in the oversold region, suggesting a possible bullish reversal in Cardano’s price trend.

Whales Buying ADA Price Dip?

Ali Martinez, a crypto analyst, has highlighted the increased demand for Cardano during the market fall. In his post on X, the analyst highlighted that whales have purchased more than 130 million ADA tokens over the past 72 hours.

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This is reflected in the whale holdings of 10 million to 100 million ADA tokens, which have increased from 12.38 billion ADA to 12.51 billion ADA.

Will Cardano Crash Under $0.50?

As per the Fibonacci levels, a potential breakdown of the falling wedge pattern will likely test the 23.68% Fibonacci level at $0.4396. This warns of Cardano’s breakdown rally crossing under the $0.50 psychological support.

On the bullish front, a potential reversal within the falling wedge will likely test the 61.8% Fibonacci level at $0.7351.

Bitcoin (BTC) Price Slips Below $80k: Is $75k Inevitable?

Albert Brown
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Bitcoin (BTC) Price Slips Below $80k: Is $75k Inevitable?

Bitcoin has slipped below $80k as the bearish trend continues into the weekend. Will the declining BTC price hit $75k next?

In the past 24 hours, the crypto market has witnessed a liquidation of nearly $850 million. Amid the high liquidations, Bitcoin has broken under its $80,000 support level and is trading at levels last seen on November 10, 2024.

Currently, Bitcoin is moving at a market price of $79,616, with an intraday pullback of 5.9%. This marks a prolonged correction in BTC and hints at a potential retest of the 50% Fibonacci level at $75,000.

Bitcoin ETF Outflows Hit 8-day Streak

With another bearish outflow, U.S. spot Bitcoin ETFs lost $275.83 million on February 27. However, this represents a significant decline in intensity compared to the previous three trading days.

Bitcoin ETFs
Bitcoin ETFs

Bitwise remains the only ETF with an inflow of $17.65 million, while ARK, 21Shares, Invesco, and Hashdex are seeing net-zero flows. BlackRock offloaded a massive $189.02 million, followed by WisdomTree, which dumped $53.78 million. The remaining six outflowing ETFs recorded outflows ranging from $13 million to $5 million.

Whales Move 40,000 BTC in 96 Hours

According to a recent tweet by Ali Martinez, crypto whales have moved the largest amount of Bitcoin in the past 4 days. The analyst reports that whales have transferred 40,000 BTC in the past 96 hours.

This marks a notable decline in whale holdings, from 4.53 million BTC to 4.49 million BTC.

 

Ki Young Ju, founder and CEO of CryptoQuant, suggests that Bitcoin is likely to experience extended consolidation. The price could dip to the $75k level before entering a potential consolidation range between $75,000 and $100,000, similar to early 2024.

During distribution phases, asset prices tend to drop if new liquidity dries up. With BTC’s declining price, the key question remains: Where will new liquidity come from?

The analyst expects the consolidation range to hold until either a sentiment boost for Bitcoin emerges or new liquidity enters the market.

Bitcoin Follows Wyckoff’s Pattern, $75k Next? 

Bitcoin’s price action reveals a bearish breakdown of the 61.80% Fibonacci level at $81,857. With its fourth bearish engulfing candle this week, Bitcoin has dropped to the $80,000 mark.

The daily chart, showing BTC’s price trend since September 2024, reveals a classic Wyckoff pattern, beginning with an uptrend. BTC underwent a distribution phase between $91,781 and $106,184.

Bitcoin Price Chart

Bitcoin Price ChartWith the overhead range breakout, BTC has now entered the markdown phase, suggesting a potential decline driven by increased supply.

Based on Fibonacci levels and the current rise in bearish momentum, Bitcoin is likely to test the 50% Fibonacci level. In the unlikely event of a bullish reversal, the immediate resistance for Bitcoin would be the 61.80% support-turned-resistance level at $81,855.

Litecoin Fails to Hold Momentum: LTC Dip Eyes $110 Support

Albert Brown
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Litecoin Fails to Hold Momentum: LTC Dip Eyes $110 Support

Litecoin’s price volatility has surged, abruptly dropping below $120. Is a correction to $98 inevitable within the consolidation range?

As Bitcoin breaches the $80,000 mark, the broader market is witnessing immense selling pressure. Amid the crashing market, the short-term recovery in Litecoin quickly transitions into a bearish turn.

With an abrupt end to the 2-day recovery, the intraday pullback of 6.06% reflects increased price volatility. Litecoin has witnessed an 11% pullback over the past seven days, dropping its market cap to $9 billion. 

Litecoin Under $120, Bullish Failure to Hit $110?

Litecoin’s daily chart price trend reveals a bullish failure to surpass the 50% Fibonacci level at $129.38. LTC reached a high of $131.95 yesterday but failed to sustain the bullish drive. 

Litecoin Price Chart
Litecoin Price Chart

Following the higher price rejection, LTC witnessed an intraday pullback. Currently, Litecoin trades at a market value of $119, hinting at a potential pullback to the $110 support level

This creates a bearish engulfing candle, undermining the Morning Star reversal rally in Litecoin. The LTC price trend bounced back from the 61% Fibonacci level, and the short-term pullback is a warning of a potential retest. 

The downfall has breached the 38.20% Fibonacci level at $121. Overall, Litecoin’s price trend maintains a sideways shift, with the overhead ceiling near $138 and the lower boundary near $98. 

The current downfall will likely retest the bullish dominance near the 23.60% Fibonacci level at $111. The MACD and signal lines maintain a bearish alignment, while the daily RSI line fluctuates near the halfway level. 

Hence, the technical indicators maintain a slightly bearish viewpoint on Litecoin’s price trend. Based on the Fibonacci levels, the bullish breakout of the overhead ceiling will likely drive the uptrend to the $150 psychological mark. 

On the flip side, the immediate support for Litecoin remains at $111, followed by the $98 demand zone.

Analyst Marks Key Levels in LTC Price Trend

Adding to market sentiment, a recent tweet by Ali Martinez, the crypto analyst, projects a bullish trend criterion for Litecoin. According to the analyst, the LTC price rally must surpass the $136 resistance level for a bullish continuation. To confirm the uptrend, the analyst expects a daily candlestick closing above this resistance level.

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Dogecoin Price Prediction: Key Levels to Short DOGE with Profit-Taking Targets

Albert Brown
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Dogecoin Price Prediction: Key Levels to Short DOGE with Profit-Taking Targets

Analysts issue a sell signal for Dogecoin, targeting $0.179, $0.163, and $0.144, citing technical indicators amid ongoing price volatility.

Dogecoin (DOGE) has experienced significant price fluctuations, with the cryptocurrency declining sharply in recent days. Over the past 24 hours, DOGE has dropped by over 11%, extending its losses to nearly 44% in the last 30 days. 

The price now hovers around $0.18, marking a substantial pullback from its highs earlier this year. Despite this downturn, DOGE remains up 90% over the past year, indicating long-term investors are still in profit. However, the recent decline has put key support levels under pressure, raising concerns over the near-term outlook.

Levels to Short Dogecoin

Amid the ongoing volatility, analysts on TradingView have shared insights on potential trading strategies. One analyst, pullbacksignal, has issued a sell signal for DOGE/USDT on the one-hour chart.

The analyst suggests that traders should consider selling at the current price with a stop-loss set at $0.217. 

The identified target profit levels are $0.179, $0.163, and $0.144. The analysis relies on classical technical indicators, including price action candlesticks, Fibonacci retracement levels, RSI, moving averages, Ichimoku clouds, and Bollinger Bands.

DOGEUSDT 1H Price Chart
DOGEUSDT 1H Price Chart

In contrast, another analyst, Exocet03, has identified a potential bullish setup based on a falling wedge pattern. According to the analysis, the market is expected to reject the upper wedge resistance before forming an interim low around $0.175. 

The analyst anticipates a breakout if market conditions align. Additionally, the $0.235 level has been highlighted as a key breakout point, while a potential decline to $0.175 could offer an entry opportunity for long positions.

Buying Opportunity and Profit-Taking Targets

ProCrypto23 has also taken a contrasting stance, indicating that DOGE’s current price represents an attractive buying opportunity. The analyst states that DOGE is unlikely to go much lower and has entered a long position at $0.18590, with a stop-loss at $0.18200. 

The target profit levels extend significantly higher, ranging from $0.78 to $2.00. Amid these predictions, key data suggest falling interest, which could lead to further declines.

Dogecoin Open Interest Declines 

Notably, Dogecoin’s open interest in futures markets has plummeted by over 67% in the past three months. According to Glassnode data, Dogecoin’s open interest dropped from $4.07 billion on December 8 to $1.33 billion. 

Open interest measures the total number of outstanding contracts in derivatives markets and is often used to gauge market sentiment. A sharp decline in open interest typically signals reduced optimism among traders.

Cardano Founder Stokes Rumors of Donald Trump Meet Up with Florida Trip

Okoya David
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Cardano Founder Stokes Rumors of Donald Trump Meet Up with Florida Trip

Cardano founder Charles Hoskinson stirs rumors of a meeting with President Donald Trump.

Cardano founder Charles Hoskinson has had the community wound up with excitement all through February 2025 with teasers of a meeting with “a special person” towards the end of the month. Hoskinson has again fanned these flames of excitement with an announcement of a Florida trip.

“A Thing”

On Thursday, February 27, Cardano founder Charles Hoskinson revealed that he would miss ETH Denver, an annual Ethereum hackathon and conference, because he had to be in Florida “for a thing.”

In light of Hoskinson’s teaser earlier in the month, the disclosure has stirred speculation of a meeting between the Cardano founder and President Donald Trump at his Florida-based Mar-a-Lago club. 

The speculation is no doubt helped by recent statements suggesting that Cardano or at least Hoskinson may be set to play a role in shaping U.S. blockchain policy and technology.

Specifically, on February 12, 2025, Hoskinson disclosed that he had had a discussion with Aptos co-founder Avery Ching, to which the latter responded that he was excited to collaborate on policy and technology to make the U.S. the leader in blockchain.

Cardano community members had initially bet on Hoskinson’s special person being Tesla and Department of Government Efficiency (DOGE) chief Elon Musk. The billionaire had sparked speculation within the crypto community with vocal support for putting U.S. government operations on the blockchain.

Despite the pent-up excitement, there is still a chance that Hoskinson’s Florida trip may not turn out to be as significant.

Meanwhile, ADA, the native token of the Cardano network, has shown no reaction to the speculation, trading at the $0.6 mark at the time of writing, representing an over 9% loss on the day amid a broad market correction.

Analyst Predicts Bearish XRP Target in Next 24 Hours as Price Breaks Down on Hourly Timeframe

Elendu Benedict
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Analyst Predicts Bearish XRP Target in Next 24 Hours as Price Breaks Down on Hourly Timeframe

A recent analysis has identified a support breach in the hourly timeframe for XRP, highlighting its subsequent target following the breakdown.

XRP, the fourth-largest cryptocurrency by market cap, briefly broke below the $2.00 stronghold. The XRPL native token dropped below the price mark today, with an over 10% drawdown in the past 24 hours.

In addition, XRP has respectively corrected 25% and 36% in the weekly and monthly timeframes, relinquishing all its 45% January gains.

Meanwhile, the sideways price trend saw it break below a price pattern. A recent analysis identified this occurrence, predicting its next target in the next 24 hours.

24-Hour Target for XRP Breakdown

Analyst Block Bull highlighted XRP’s breakdown from a symmetrical triangle in the hourly timeframe. The coin broke from the structure’s lower support line following strings of closes below the trendline and has conceded to downward pressure since then.

Following the prevalent short-term bearishness, the analyst asserted that the prominent cryptocurrency would decline further. In his Feb. 27 tweet, he speculated that the asset would correct nearly 10% from its current price to around $1.80 by tomorrow. 

XRP Breakdown/Block Bull

Notably, the level is close to the Feb. 3 low of $1.7711, an area analysis suggested was XRP’s generational bottom. For context, the asset previously rebounded over 52% from the region to close at $2.7001 that day.

XRP Still Bullish Long-Term

Despite recent price underperformance, analysis continues to suggest XRP could quickly decimate this bearish momentum and target higher prices. One such speculation comes from Dark Defender, who sees the downtrend as a part of a larger bullish picture.

In a recent analysis, he suggested that the asset is approaching the end of its ABC correctional phase, and the next course of action is a rebound to new all-time highs. His commentary asserted a surge past the $3.3509 top to $5 and, subsequently, $8.

Moreover, another commentary predicted short and long-term price targets of $4.3 and $67, with an ambitious surge to $10,000 still in the mix.

At the time of writing, XRP trades at $2.0249, down 8% in the past 24 hours.

Expert Says Necessary Systems Are Already in Place for Financial Institutions to Utilize XRP Across the US

Abdulkarim Abdulwahab
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Expert Says Necessary Systems Are Already in Place for Financial Institutions to Utilize XRP Across the US

Prominent industry commentators believe XRP is now in an ideal position for widespread adoption by financial institutions across the U.S.

This perspective is supported by Ripple’s expansive regulatory licenses for payment services in the United States. Specifically, Ripple has secured over 50 Money Transmitter Licenses (MTLs) across the U.S. 

Notably, the licensing includes highly regulated jurisdictions such as New York and Texas. The company achieved this milestone late last month.

These approvals allow Ripple to legally offer cross-border payment services using XRP and its RLUSD stablecoin. In a tweet, notable XRP researcher SMQKE highlighted the significance of these licenses.

Institutional Giants Can Now Use XRP with Confidence

According to SMQKE, Ripple’s successful navigation of the regulatory landscape means that major financial institutions, including Bank of America and Santander, can now utilize XRP for their cross-border payment solutions.

SMQKE emphasized that the necessary systems, structures, and regulatory approvals are already in place. In their view, this makes it easier for banks and other financial institutions to incorporate XRP into their payment networks without concerns about legal or compliance issues.

Earlier, industry leaders like David Stryzewski of Sound Planning Group mentioned on live TV that top banks, such as Bank of America, were running “100% of internal transactions” via XRP. While the claim remains unconfirmed, the revelation triggered massive excitement in the XRP community.

Ripple’s Continued Expansion

With Ripple’s most recent regulatory clearance in New York, its presence in the U.S. now includes 55 global licenses across 33 U.S. states.

Despite legal challenges from the SEC, Ripple continues to grow, processing $70 billion in payments across 90+ markets in 2024. The company is also expanding its U.S. workforce and bolstering RLUSD issuance on the XRP Ledger.

Matthew Snider of Digital Wealth Partners sees this as a sign of Ripple’s increasing influence and the potential for mainstream adoption of XRP.

XRP Price Not Moving?

Meanwhile, some XRP holders are wondering when these promising developments will translate into massive price growth for XRP.

Responding to SMQKE’s post, an X user asked why XRP’s price “isn’t going anywhere” despite all the whales and institutions buying XRP for utility.

For context, XRP is trading at $2.02, down by over 9% in the last 24 hours. Also, in the past seven days, the situation is even worse, with a 25% drop.

Meanwhile, SMQKE responded to the price concerns from a historical perspective, noting that XRP has done a 10X jump from $0.30 to $3.30. 

Notably, while XRP’s recent price actions have been underwhelming, it boasts a massive one-year gain of 247%. This far outpaces the figures for Bitcoin and Ethereum.

Coinbase Wins as SEC Permanently Ends Civil Enforcement Case

Albert Brown
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Coinbase Wins as SEC Permanently Ends Civil Enforcement Case

The U.S. SEC announced that it has filed a joint stipulation with Coinbase to dismiss the civil enforcement action against the exchange. 

The agency stated that the decision aligns with its ongoing efforts to establish a clearer regulatory framework for digital assets. Paul Grewal, Coinbase’s Chief Legal Officer, reacted to the news with a brief but pointed remark, stating, “Goodbye. And good riddance.”

Crypto Task Force and SEC’s Regulatory Shift

On January 21, 2025, the SEC launched the Crypto Task Force to create a comprehensive and transparent regulatory structure for crypto assets. Given this initiative, the agency opted to drop the case against Coinbase, signaling a shift from enforcement actions to broader regulatory development.

Acting SEC Chairman Mark T. Uyeda emphasized that previous approaches primarily relied on enforcement without engaging the public. He stated that the agency now aims to develop policy in a more transparent manner. The SEC clarified that its decision does not reflect an assessment of the claims against Coinbase but rather a strategic regulatory shift.

SEC Dismissals Extend to Other Crypto Firms

Also, blockchain firm Consensys reached an agreement with the SEC to conclude an ongoing securities litigation case.

Specifically, Ethereum co-founder Joseph Lubin announced that the agency had consented to dropping its investigation into MetaMask. Lubin stated that the SEC would file a stipulation to finalize the case, which had been ongoing for eight months.

The dismissal also follows a pattern of recent SEC decisions to end enforcement actions involving major crypto entities. Within the past week, the agency dropped investigations into Robinhood, Uniswap, Gemini, and OpenSea.

Cardano Founder Reacts as BitBoy Declares Himself ADA’s Savior

Okoya David
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Cardano Founder Reacts as BitBoy Declares Himself ADA’s Savior

BitBoy says he single-handedly saved Cardano.

In a space filled with polarizing figures, longtime crypto influencer Ben “BitBoy” Armstrong stands out for his wild antics, publicized personal life drama, and controversial statements.

In the latest instance, Armstrong is turning heads with statements about the leading Layer 1 chain, Cardano, which have amused even Cardano founder Charles Hoskinson.

Cardano’s Savior?

“I single-handedly saved the ADA project,” Armstrong asserted in a February 26 livestream as he launched an about-face on the project he has consistently bashed as “dead.”

In the influencer’s telling, his criticisms of Cardano were not really criticisms, but an elaborate reverse psychology ploy to get institutions to jump on the project, citing Grayscale’s recent bid to launch a Cardano exchange-traded fund.

“All it took was the BitBoy telling everybody that Cardano is dead, and the institutions said we can’t let BitBoy win, we got to go back in on Cardano. So, guys I have single-handedly saved the ADA project fresh off of my Adderall binge and I am so excited that together me and the Cardano community can move forward,” he contended.

Unsurprisingly, the embattled influencer’s recent statements have drawn a flurry of reactions, including from Cardano founder Charles Hoskinson. Instead of contesting Armstrong’s claims, Hoskinson had nothing but positive words for the influencer, all while flashing a sarcastic grin.

“We’re very excited and glad that you’ve gotten what you needed to get, BitBoy, and we wish you well, and we hope that you’re doing well, and thank you for the kind words about Cardano,” Hoskinson quipped in a short response clip.

Recall that the animosity between BitBoy and the Cardano community heated up when the influencer claimed last July that Cardano had lost institutional appeal. In August, BitBoy challenged Hoskinson to a fight, an occasion that the Cardano founder was not particularly welcome to.

Meanwhile, it will not be the first time Armstrong has made a U-turn on a project about which he seemingly held strong views, amid changing circumstances.

Most recently, the influencer declared himself “The Sultan of Solana” after months of bashing the project on the heels of the FTX collapse.

Wen Shiba Inu ETF? Ecosystem Team Calls for SHIB-Based Investment Product

Elendu Benedict
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Wen Shiba Inu ETF? Ecosystem Team Calls for SHIB-Based Investment Product

Amid growing filings for altcoin ETFS, a Shiba Inu ETF proposal has not sprung up, with the ecosystem team recently calling for an application. 

Shiba Inu market lead Lucie recently talked up a Shiba Inu exchange-traded fund (ETF). In an X post, she called on issuers and sponsors to set the approval process for a publicly traded fund tracking the meme coin’s price in motion.

Wen Shiba Inu ETF?

Notably, several altcoins have drawn the attention of asset managers recently following the approval of the Bitcoin and Ethereum spot ETFs. Aside from prominent assets like Solana, XRP, and Cardano, meme coins like Dogecoin, Bonk, and Official Trump have also seen applications from asset managers.

However, issuers have yet to file a product tracking the performance of Shiba Inu, the second-largest meme coin by market cap. Lucie suggested this trend was inappropriate, joining the broader community’s tumult for the traditional investment vehicle.

“Wen SHIB ETF?” Lucie inquired.

Notably, ETFs provide institutional investors with easier access to an underlying asset, opening more windows for massive capital inflows. This influx, among other factors, spurred Bitcoin’s surge from around $38,000 to six figures last year.

Hence, the Shiba Inu ecosystem team’s clamor for a SHIB ETF is understandable, as the fund would succor the ecosystem’s push for mainstream adoption.

Memecoin ETFs Now a Thing

A year ago, the chances of an Ethereum spot ETF looked slim amid the Gary Gensler-led SEC’s reluctance to sanction the product. However, a barricade of altcoin ETFs now lies on the regulator’s table, with meme-originated tokens in the mix.

Asset managers Osprey Funds and REX Shares filed for Dogecoin, Bonk, and Official Trump ETFs in January, a move that sparked reactions in the crypto space. While many expected a DOGE spot product, the two other applications surprised many.

Also, the US SEC’s recent clarification that meme coins are not securities further brightens the chances the regulator will sanction ETFs related to the joke-cultured sector. The securities regulator recently acknowledged the filing for a Grayscale DOGE ETF, fueling optimism that the approval process is moving smoothly.

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