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Ether Eyes $3.4K as XRP's Price Flashes Cautionary Sign
Ether Eyes $3.4K as XRP's Price Flashes Cautionary Sign

Yahoo

time6 days ago

  • Business
  • Yahoo

Ether Eyes $3.4K as XRP's Price Flashes Cautionary Sign

Bitcoin: Re-test of record highs likely Bitcoin's (BTC) hourly chart shows that prices have risen out of the descending channel, forming a higher low at around $117,000 early today. Additionally, prices have crossed above the Guppy multiple moving average indicator. Guppy's short-term EMA (white) band is about to shift above the long-term (red) band, suggesting renewed upside momentum. The stage looks set for a rally to record highs, with accelerated gains likely once we move above the Ichimoku cloud. In case, prices fall below $117,000, there is a possibility of an extended pullback, possibly to $111,965, the breakout point identified by the May high. The bullish case looks stronger with cumulative open interest in USD- and USDT-denominated perpetuals on offshore exchanges, including Binance, OKX, Deribit, Bybit, and Hyperliquid, rising to its highest level in nearly two years alongside positive funding rates. The combination suggests growing interest in bullish leveraged bets. AI's take: Bitcoin is showing strong signs of resuming its rally, with momentum indicators flipping bullish and hinting at new record highs soon. Bulls, just be sure to hold that $117,000 support; a break there could trigger a deeper correction. Resistance: $120,000, $123,181. Support: $117,000, $113,688 (the 38.2% Fib retracement of the rally from June 22 lows), $111,965. Ether: Eyes $3,400 Ether's (ETH) breakout from the expanding triangle consolidation and the 61.8% Fibonacci retracement of the December-April sell-off has likely set the stage for $3,400, a level favored by options traders on Derive. The 14-day RSI has surpassed the 70 mark, indicating strong upside momentum alongside upward-sloping 50- and 100-day simple moving averages (SMA). The ether-bitcoin ratio has also broken out of a prolonged consolidation, suggesting ether outperformance ahead. On the downside, Tuesday's low of $2,933 is the level to beat for bears. AI's take: Ether is looking incredibly strong for a move to $3,400, fueled by multiple technical breakouts and its clear outperformance against Bitcoin. Keep a sharp eye on $2,933. Resistance: $3,400, $3,570, $4,000. Support: $2,933, $2,739, $2,600. Solana: Stability near 200-day SMA is encouraging for bulls Solana's SOL continues to trade back and forth near the 200-day simple moving average. The stability contrasts with swift bearish reversals from the key average observed in May and is a positive sign for the bulls. This, coupled with the move above the Ichimoku cloud and the RSI above 50, suggests that the recent newfound resistance at $168 could soon be flipped into support. The next hurdle is seen at $200. Tuesday's low of $157.13 is a key level of support. AI's take: Solana is looking increasingly bullish, holding key support at its 200-day SMA, a big shift from past reversals. Resistance: $168, $187, $200. Support: $157, $145, $125. XRP: Looks north after Tuesday's 'Hanging Man' candle XRP's (XRP) hourly chart shows a picture-perfect transition from a pullback to renewed upswing. Prices exited the downward trending channel on Tuesday and have since crossed bullishly above the Ichimoku cloud. The setup favors a re-test of the recent highs above $3.00. That said, Tuesday's hanging man candle, characterized by its long lower wick and small red body, suggests bears are looking to reassert themselves. Should prices lose support at $2.80, it could prove costly. AI's take: For traders, the daily chart's "hanging man" is the more significant signal, as longer timeframes generally provide more reliable reversal patterns. While the hourly chart shows a bullish bounce, the daily hanging man acts as a strong cautionary flag. Resistance: $3.00, $3.40. Support: $2.80, $2.6-$2.65, $2.38. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

Bitcoin, XRP Open Interest Nears Record High as Bull Market Pullback Unfolds
Bitcoin, XRP Open Interest Nears Record High as Bull Market Pullback Unfolds

Yahoo

time7 days ago

  • Business
  • Yahoo

Bitcoin, XRP Open Interest Nears Record High as Bull Market Pullback Unfolds

The bitcoin (BTC) market rally has stalled in the past 24 hours as expected, but instead of consolidation, prices have pulled back over 5% to $116,800 from record highs in a move typical of a bull market pullback. Reports suggest that profit-taking by long-term holders is weighing on the cryptocurrency's price. It's common for markets to revisit breakout points, in this case, the May 22 high of around $111,960, and test the underlying buying interest before chalking out bigger rallies. A similar dynamic played out earlier this year as prices dropped from over $100,000 of $75,000, revisiting the breakout point from late 2024. From a technical analysis perspective, the broader bullish bias will prevail while prices remain locked in the ascending channel on the daily chart. Over the next 24 hours, the focus will be on the hourly chart, which shows a steep corrective trend lower, with prices trading below the Ichimoku cloud to suggest bearish momentum. However, the RSI on the hourly chart has dropped below 30, indicating an oversold condition – a stark contrast to the above-70 or overbought reading seen a day ago. So, a bounce cannot be ruled out. The probability of a pullback to $111,960 would weaken if the potential recovery ends the downward-trending channel. Such a move will likely result in fresh record highs. Open interest nears record high Volatility could remain high as cumulative open interest in onshore and offshore futures and offshore perpetual futures has increased to 734.82K BTC, which is just shy of the record 744K BTC in October 2022, according to data source CoinGecko. The growth in open interest is likely being led by offshore exchanges as the number of active contracts on the CME remains below the May high, with the three-month annualized basis still below 10%. Conversely, annualized funding rates on offshore perpetuals have topped 11%, indicating a growing demand for the bullish exposure. The MOVE index, which gauges 30-day implied volatility in U.S. Treasury notes, has rebounded from a critical level that has consistently foreshadowed sharp spikes in market volatility since 2024. That's a cause for concern for the bulls because volatility spikes in the Treasury market tend to lead to financial tightening, a risk-off development. Moreover, since 2024, bottoms in MOVE have marked interim BTC price tops. Watch out for the history to repeat itself, leading to a deeper BTC bull market pullback. AI's take: Bitcoin's 5% pullback is a healthy bull market feature, aiming to retest the key breakout level of $111,960 before potentially initiating a stronger rally. Resistance: $118,000-118,500, $120,000, $123,181 Support: $113,688 (the 38.2% Fib retracement of the rally from June 22 lows), $111,965, $107,823 (the 61.8% Fib) XRP (XRP) has dropped from $3 and appears to be trapped in a downward-trending channel on the hourly chart, mirroring BTC. Still, XRP appears relatively better off, holding the confluence of the 100-hour simple moving average (SMA) and the Ichimoku cloud at $2.81. A breakout from here would imply an end to the correction and resumption of the broader uptrend toward the yearly peak of $3.4. On the way higher, bulls will likely be tested again at around $3. Watch out for the move below the Ichimoku cloud, as that would strengthen the immediate bear case, shifting focus to the 200-hour SMA at $2.6. Again, volatility could be elevated with perpetual futures open interest hitting a record high of 2.74 billion XRP, according to Coinglass. The annualized XRP funding rates hover at 15%, indicating a growing bias for leveraged bullish plays. AI's take: Despite XRP's hourly chart showing a BTC-mirroring downtrend from $3, its strong hold above the 100-hour SMA and Ichimoku cloud at $2.81 signals underlying support. Record perpetual futures open interest and high funding rates indicate significant leveraged bullish demand, making a breakout above $3, towards $3.4, likely if current support holds. Resistance: $3, $3.4 Support: $2.81, $2.6-$2.65, $2.38 Ether (ETH) remains trapped in an expanding triangle, with the daily stochastic flashing an overbought reading, pointing to stretched upward momentum, which weakens the case for a firm breakout in the short term. A consolidation around the resistance looks likely as prices are firmly above the Ichimoku cloud on the daily chart and short-term SMAs point north, indicating a bullish bias. An eventual breakout would shift focus to $3,400, a level targeted by options traders. AI's take: The daily stochastic being overbought indicates that momentum is stretched, making a convincing push above the upper trendline unlikely in the short term. Resistance: $3,067 (the 61.8% Fib retracement), $3,500, $3,570, $4,000. Support: $2,905, $2,880, $2,739, $2,600 SOL's upside remains elusive despite the dual breakout on the daily chart. Since Friday, the bulls have failed at least twice to chew through bearish pressures at around $168, as evidenced by the long upper wicks attached to the candles for Monday and Friday. So, a break above $168 is now needed to confirm bullishness. On the downside, $157 is the level to watch as it marks the neckline support of the double top pattern on the hourly chart. A breakdown of the support line would imply potential for a deeper decline to $146, per the measured move method. AI's take: Traders should watch for a definitive break above $168 to confirm bullish continuation; otherwise, a loss of the $157 neckline support could trigger a deeper decline towards $146. Resistance: $168, $180-$190, $200. Support: $157, $145, $125. 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Bitcoin, Ether, Solana, XRP Price Analysis: BTC Resistance at $120K?
Bitcoin, Ether, Solana, XRP Price Analysis: BTC Resistance at $120K?

Yahoo

time11-07-2025

  • Business
  • Yahoo

Bitcoin, Ether, Solana, XRP Price Analysis: BTC Resistance at $120K?

Bitcoin's (BTC) upswing has gathered pace, as indicated by the "negative dealer gamma buildup" and IBIT's bull flag breakout. Bull momentum looks strong, evidenced by the 14-day RSI topping 70 and the MACD histogram producing higher bars above the zero line—no reason to worry for bulls, or is it? With prices in uncharted territory, identifying resistance becomes difficult, and so we look to the options market for clues. On Deribit, the $120,000 strike call is the most popular option with an open interest of $2.37 billion and could be the next key level to watch. The Coinbase premium shifted to negative level early today, suggesting weaker demand in the stateside market alongside an overnight decline in the cumulative perpetual futures open interest on offshore exchanges. Both factors call for caution on the part of the bulls. Meanwhile, the hourly chart's RSI requires attention, as a potential bearish divergence may emerge, signaling a pause in the uptrend and a possible correction. AI's take: The market being in uncharted territory makes it vulnerable to a pullback despite the overall positive sentiment. Resistance: $120K Support: $113,666 (the 23.6% Fib of the upswing from June low), $119,965 (the May high) Ether (ETH) has finally managed to clear the supply zone at around $2,800, which capped upside in May and June. An upswing in spot volumes backs the breakout, and coupled with the fresh bullish signal from the Guppy multiple moving average system, suggests potential for a continued move higher, beyond $3,066, the 61.8% Fib retracement level of the December to April downtrend. With prices firmly above the Ichimoku cloud, alongside an RSI above 70 and a rising MACD, pullbacks, if any, are likely to be shallow and well-supported at around $2,600. AI's take: Ether's breakout above the $2,800 supply zone suggests a potential shift in market sentiment and a bullish continuation. Resistance: $3,066, $3,400, $3,525 Support: $2,880, $2,600, $2,370 SOL's (SOL) price rally to a high of $166 triggered an inverse head-and-shoulders breakout and marked a crossover into the bull territory above the Ichimoku cloud. That's dual breakout! The measured move method applied to the inverse H&S breakout suggests a potential rally to $200. On the way higher, prices may encounter resistance between $180 and $190, characterized by intraday highs from May. On the downside, $145 is key support, which, if lost, could embolden bears. AI's take: The dual breakout signals strong bullish confirmation, offering bulls a compelling case to chase upside. Prudent traders should still manage risk with stop-loss orders, and broader market conditions. Resistance: $180-$190 range, $200. Support: $150 (the 100-day SMA), $145 and $125. XRP (XRP) has risen to $2,58, the highest since May 14, with the 14-day RSI crossing above 70 for the first time since January to suggest the strongest bullish momentum in six months. The rising MACD histogram also paints a bullish picture, supporting a potential break above resistance at $2.65 (the May high). Following this, the focus would shift to $3.00 and $3.39 (the yearly high). XRP's perpetual futures open interest has risen to a fresh multi-month high of 833 million XRP, supporting the rally. AI's take: XRP's market points to significant bullish strength. Resistance: $2.65, $3.00, $3.39. Support: $2.20, $1.90, $1.60. Sign in to access your portfolio

Pi coin breaks out of the range but faces resistance
Pi coin breaks out of the range but faces resistance

Yahoo

time05-06-2025

  • Business
  • Yahoo

Pi coin breaks out of the range but faces resistance

Pi coin breaks out of the range but faces resistance originally appeared on TheStreet. Pi (PI) is a native token of Pi Network, a cryptocurrency project that aims to make crypto and blockchain technology more accessible to the masses. Pi/USDT reached resistance at the upper trading range of $0.648 to $0.656 between June 2 and June 4 and continued above on increased volume to test a down Bullish cross over in the Ichimoku cloud, also supporting momentum, while Stochastic RSI above 80 indicated overbought territory. MACD signals are mixed, trading around the zero level with a slightly negative histogram, suggesting that bulls are hesitant. The current value of Pi is $0.6553 , and it has found support at $0.6494. It is on the 4-hour chart and stands above the 20-EMA, which implies a bullish near-term structure, but it is capped by the resistance of the 50-day SMA ($0.714) and the 100-EMA ($0.6774). On the daily timeframe, Pi remains confined within a descending triangle, and its bearish setup will only be invalidated if it closes convincingly above $0.675. Zypto App's adoption of Pi - The XRP and DASH topping VISA card — has multiplied its practical use across payments. Furthermore, a new blockchain-integrated game called "FruityPi" is set to go live as well, increasing the gaming use case of the token. At a neutral Fear & Greed Index reading of 57 and decreasing 24h volume (-32%), traders are cautiously optimistic. A clear move above $0.675 might call for a test of $0.72, but a break below $0.649 could spark a fresh decline. Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Please do your own research and consult with a licensed financial advisor before making any investment decisions. Pi coin breaks out of the range but faces resistance first appeared on TheStreet on Jun 4, 2025 This story was originally reported by TheStreet on Jun 4, 2025, where it first appeared. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

SHIB Under Pressure, Below Ichimoku Cloud After High-Volume Overnight Selling
SHIB Under Pressure, Below Ichimoku Cloud After High-Volume Overnight Selling

Yahoo

time02-06-2025

  • Business
  • Yahoo

SHIB Under Pressure, Below Ichimoku Cloud After High-Volume Overnight Selling

Shiba inu SHIB, the world's second-largest meme token by market value, trades in the bearish territory below the Ichimoku cloud after facing high-volume selling overnight. The Ichimoku Cloud, a technical indicator developed by a Japanese journalist in the 1960s, is used to analyze market trends, identify support and resistance levels, and gauge momentum. It is composed of several lines and a cloud-like area, all of which provide insights into potential price movements. Crossovers above and below the cloud represent bullish and bearish shifts in market trends. SHIB experienced high-volume selling at key resistance at 0.00001307 on Sunday between 6:00 and 22:00 UTC, and subsequently fell back to 0.00001274, staying in the bearish territory below the Ichimoku cloud. Geopolitical tensions and shifting trade policies continue to influence cryptocurrency markets, with Shiba Inu (SHIB) demonstrating resilience amid broader economic uncertainty. While maintaining its newly established higher range, SHIB faces significant resistance as global trade disputes impact investor sentiment across both traditional and digital asset classes. Key resistance emerged at 0.00001307, with high volume selling pressure during the 16:00 and 22:00 sessions. Strong support formed at 0.00001275, backed by above-average volume during the 03:00 reversal. In the last hour, SHIB experienced significant volatility with a notable price surge from 0.00001289 to 0.00001293 during the 07:13-07:19 bullish momentum reversed sharply at 07:27, when prices dropped 1.2% to 0.00001283, forming a clear resistance zone around 0.00001293. The final 30 minutes showed consolidation between 0.00001283 and 0.00001285, with decreasing volume suggesting exhaustion following the earlier volatility. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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