Tag: price action

BNB Strenghthens as Binance Chain Slashes 90% Gas Fees

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BNB has surged more than 5% with a high trading volume following a 90% drop in Binance Chain Gas Fees. Is $700 BNB’s next target?

 

BNB coin has surged 5.80% with a 26.22%  increase in trading volume in the past 24 hours, at press time, per CoinMarketCap.  This follows a 90% slash in Binance Chain gas fees from 1 gwei to 0.1 gwei.  CZ’s approved proposal on reducing gas fees could catalyze the BNB price uptrend to $700 and the psychological $1000 mark.

 

Source: CoinMarketCap

 

BNB’s Open Interest has risen 6.27%, with the 24-hour long-to-short ratio at 1.05. As the Relative Strength Index (RSI) hits 71 (overbought zone), BNB could face a price pullback following a sharp bullish rally. However, the short-term, medium-term, and long-term moving averages flash “strong buy” at press time.

Analysts have predicted that the breakout above the $634-$644 key resistance zone could see the coin rally towards $700 in the next few days, while targeting $1000 in the long run. Investors signal renewed optimism following this development on the Binance chain. If the bullish momentum holds, BNB’s rally to $1000 could be due soon.

 

 

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PEPE: Assessing the Memecoin’s Breakout as Bullish Momentum Strenghtens

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PEPE has broken out of a descending channel pattern with a heightened trading volume and price surge, suggesting a price reversal.

 

Following days of price downtrend, PEPE is flashing signs of a bullish price reversal. The memecoin has broken out of its descending channel formation on the 4-hour chart, surging 5.3% in price. According to CoinMarketCap data, the memecoin’s trading volume is steadily surging, and stands at 21.54%, at press time.

Looking at the chart, PEPE’s price has broken out and is consolidating above the $0.00000800 resistance zone, which acts as its new support. The breakout is confirmed by candles closing above its descending trendline as buyers step in, strengthening PEPE’s bullishness.

Source: TradingView

 

The MACD level (12,26), the short-term and mid-term moving averages flash “buy” as the bulls charge for a rally following the breakout. The Relative Strength Index (RSI) stands at 51 (neutral zone). This suggests PEPE buying has started, but the memecoin is not yet overbought.

Following this breakout, PEPE is poised for a rally towards $0.00000850 while targeting $ 0.00000900 in the long run. These are previous key resistance levels. One should watch for buying volume and derivatives data for further insights.

 

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Cardano Faces Price Rejection Signaling Caution Ahead-What’s next for ADA?

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Cardano has faced price rejection around the $0.70 key resistance zone on its descending channel. Technical analysis hints at further downside if the bearish pressure persists.

 

Caradano has been flashing signs of strength in the past week as bulls hold strong in anticipation of ETFs’ approval. However, amid rising odds of ETF approval, Cardano bears could be taking charge as bulls get exhausted at the $0.70 zone. As of this writing, ADA has faced price rejection in this zone following a price uptrend in the past 48 hours.

Source: X

Looking at the 3-day chart, Cardano has tested the $0.68-$0.71 resistance zone on its descending trendline. Following a price exhaustion, the bears are pulling back, changing the coin’s momentum. Technical indicators signal strong bearish momentum, as the MACD (12,26) and moving averages flash a “strong sell”.

With the Relative Strength Index at 43, Cardano is approaching the oversold zone and has potential for price reversal. However, according to crypto analyst Ali Martinez, if the bearish pressure persists, ADA could drop further to $0.63, eyeing the  $0.54 support zone.

One should watch out for ADA’s fundamentals, buying volume, and technical indicators at this level for further insights.

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Ethereum ICO Whale Dumps $4.5M ETH amid Institutional Buys

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A major Ethereum ICO investor has offloaded $ 4.5M in ETH while BlackRock buys $20M worth of ETH, sparking mixed reactions in the market.

 

An early Ethereum initial coin offering(ICO) investor has made a surprising market move, leaving crypto investors with mixed reactions regarding ETH and his motives. According to On-chain data, the wallet sent 1,500 ETH ($2.76M) to the Kraken exchange. Previously, in the same 24-hour period, the whale wallet had transferred another 1,000 ETH ($1.83M), signalling significant offloading.

 

Source: X

 

The market has reacted to the whale wallet’s moves with mixed reactions. Having been an early ICO investor, traders question his motives, considering BlackRock has bought 11,000 ETH worth over $20 million in the same period.

BlackRock has been growing its Ethereum fund while other institutions like Trump’s World Liberty Financial believe in Ethereum’s rebound following a historical dip in Q1, 2025. So, does this early investor lack confidence in ETH’s bounce-back while institutional buying starts? Traders are closely watching ETH’s price at the $ 1800-1850 resistance zone to understand its next moves.

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TRON TRX Eyes Breakout while THIS Pattern Suggests a 15% Rally

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TRX is testing a key resistance zone on its bullish pennant pattern, eyeing a 15% rally post-breakout.

 

TRON (TRX) is catching the market’s attention following its listing as the 10th largest coin by market cap on CoinMarketCap’s cryptocurrencies list. In the past 24 hours, TRX has surged 1.25% with a 4.87% increase in its open interest. Per Coinalyze data, the Coin’s 24-hour long-short ratio stands at 2.27, suggesting heightened buying pressure.

 

Looking at the 4-hour chart, TRX’s price is consolidating in a bullish pennant pattern. This technical step up indicates a calm balance between sellers and buyers following a price uptrend. As of press time, TRON is trading at $0.2480 and attempting a breakout above the $0.2500 resistance zone.

Source: X

 

According to renowned analyst World of Charts, a breakout above the resistance zone could see TRX  rally 15% towards the $0.2800 and beyond in the short term. The MACD(12,26) is flashing a “sell” signalling some bearish pressure.

However, the short-term, mid-term, and long-term moving averages flash “strong buy”. With the Relative Strength Index (RSI) standing at 53 (neutral zone), TRX is not overbought and has more buying potential. TRON could be geared up for a rally soon, and traders are closely monitoring its price action at the resistance zone.

 

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Ivy League Brown University Goes Crypto With 4.9M Bitcoin ETF Buy

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Beyond its 260-year-old educational excellence, Ivy League Brown University has joined institutional smart money, making bold steps into the “digital gold” rush.

 

May 2- One of the 8 oldest educational institutions (Ivy League schools) in the United States has announced its strategic step into the digital assets market. Brown University has signaled confidence in crypto assets as the mainstream finance sector faces portfolio revisions.

In its recent 13F filing and portfolio disclosure, Brown University has revealed a smart money move by opening a $4.9 million position in the IBIT Bitcoin ETF, totaling 105,000 shares.

 

Source: Quiver Quantitative

 

What does this mean for BTC?

With Bitcoin Exchange Reserves declining, Bitcoin’s scarcity is rising, hinting at a potential supply shock in the next few months. Analysts have argued that with the rising institutional demand, 2025 could be the last year to buy BTC below $100k, considering its capped supply.

As institutions rush to accumulate the “digital gold”, an exponential bull rally could be on the cards in the next few months, with negligible price volatility marks.

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Bearish Sentiment Rises as 63.76% of Binance Traders Bet Against Bitcoin

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Latest data reveals a declining BTC long-to-short ratio as bears take charge of Binance trade positions.

 

Bitcoin traders on the world’s largest exchange by volume reveal a shift in market sentiment as Bitcoin approaches the psychological $100k Mark. Bitcoin is rallying towards $98,000, where short-term resistance exists before moving to $100k and above. According to recent data, 63.76% of traders on Binance have opened short positions for BTC price action.

 

 

Source: X

 

A low long-short ratio suggests prevailing bearish momentum in the market.  BTC is currently trading at  $96,989 with a nearly 1% increase in price over the past 24 hours, per CoinMarketCap. Bitcoin’s path to 100k could trigger major liquidations and some market volatility.

With the bulls and bears getting in a tug of war, the market is closely watching BTC’s price action at the current price for further insights. A Change in market sentiment could hint at price volatility soon.

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SUI Surges 9% as 21Shares Files for SUI ETFs

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Sui has surged 9% following a partnership between the SUI Network and 21Shares.

 

On April 30, 21Shares, the crypto exchange-traded products (ETPs) firm, announced a partnership with the SUI network. The strategic collaboration aims at advancing high-performance blockchain utility in institutional finance. 21Shares has moved ahead to file for SUI  Exchange Traded Fund (ETFs) under the Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC).

 

Following this Development, SUI has surged 9% in the past 24 hours as of this writing, according to CoinMarketCap Data. The coin is attempting a breakout above the $3.50-$3.70 key resistance zone, with price fluctuating around this level.  Per Coinglass data, the Coin’s open internet has surged nearly 10%, signaling rising market optimism.

With the Open Interest (OI)-Weighted Funding Rate turning positive, SUI’s bullish momentum could be strengthening. Traders are watching the buying pressure and the market’s response to this news to determine their next moves.

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Dogecoin Weekly Whale Accumulation Hits 100 Million Coins

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Whales have been accumulating over 100 million Dogecoins in the past 7 days. Does this mean DOGE could be rallying soon?

 

Dogecoin has surged 6.78% in the past 24 hours as of press time, per CoinMarketCap data. Despite a low trading volume in the same period, DOGE is showing strength fueled by heightened whale accumulation. Following the recent filing of DOGE ETFs by 21shares, the memecoin could be poised for a price uptrend in the coming days.

Recent On-chain data hint at a surge in whale accumulation. According to the data, wallets holding between 1 million to 10 million DOGE have steadily risen over the past week, surpassing 100 million coins.

 

Source: X

 

While there is no sudden spike in price, crypto analysts predict DOGE could be eyeing a breakout above $0.2000 soon. This could trigger a price rally amid changing market sentiment towards memecoins.

Whale accumulation often signals a preparatory phase before a price breakout. One should monitor volume and key support levels for further insights.

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Bitcoin Price Analysis: What’s Next after THIS Breakout?

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BTC has broken above its ascending triangle following 9 days of price consolidation. Is a bull run to $100k on the horizon?

 

Bitcoin is signaling strength and could be eyeing a bull run towards the $100k  key psychological zone.  BTC is trading at around $95,994 as of press time, per CoinMarketCap data. In the past 24 hours, Bitcoin’s trading volume has surged 33.83% percent signalling increased market participation amid a breakout.

Looking at the 4-hour chart, the king of cryptocurrencies has broken above an ascending triangle pattern formation around the $95,650 key resistance level with strong bullish candles. The short-term, mid-term, and long-term moving averages signal a “strong buy” with the Relative Strength Index (RSI) standing at 69. This suggests more buying potential.

Source: X

 

With a +4.71% open interest, Bitcoin’s rising demand could fuel a rally towards the psychological $100k soon. The long-short ratio stands at 1.0404 per Coinglass data, suggesting that some bearish pressure exists.

According to crypto analyst CaptainFaibik on X (formerly Twitter), if the breakout momentum holds, BTC could be eyeing the $98,000 zone as the next target. Traders are closely monitoring the buying pressure above the breakout zone for further insights.

 

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