Cryptocurrency

The consolidation around this critical support level at approximately $0.0000084 has been perceived by some as a springboard for future gains, with predictions of a bullish continuation that could result in a 12% surge in the coming weeks​​. This is further supported by SHIB trading above both the 50-day and 100-day moving averages, suggesting a strong uptrend with potential for further growth​​.The persistence of price above these moving averages and the forming of a potential “golden cross” — a bullish signal where the 50-day moving average crosses above the 200-day moving average — reinforces the prospect of an imminent price rally​​. The golden cross is typically a lagging indicator, but it is regarded by investors as a confirmation of a strong bull market on the horizon.Adding to the bullish sentiment, the stable Relative Strength (RS) and increased trading activity have been highlighted as favorable conditions for SHIB’s potential price rally, suggesting that the coin is demonstrating compelling signs of a bullish breakout that could potentially trigger a substantial surge, estimated at around 12%​​.Technical patterns and support levels suggest that may indeed be preparing for significant upward movement. While the meme coin market is notoriously volatile and unpredictable, current indicators give a cautiously optimistic outlook for SHIB. Investors and traders will be watching closely for a confirmed breakout above the 200-day SMA, which could signal the start of the anticipated climb.The price stabilization comes as Ethereum encounters resistance at $2,136, a critical level where profit-taking by Ethereum whales has been observed. This selling pressure hints at a potential correction but is counterbalanced by positive market developments, such as the filing of a spot Ether ETF by BlackRock (NYSE:BLK), which could significantly strengthen Ethereum’s market position​​.Despite the current hesitation in the rally, Ethereum’s fundamental outlook remains robust. The asset has successfully maintained a level above the major resistance at $2,008.08, with analysts suggesting that the bulls are gathering strength for a second rally. Should the bulls overpower the bears at the $2,195.87 resistance, Ethereum could eye a substantial climb, potentially reaching as high as $3,000.27, given the lack of major resistance levels in between​​.Moreover, the recent involvement of investment giants like BlackRock has contributed to Ethereum’s year-to-date high of $2,139, signaling bullish sentiment on the market that could propel the price to $3,100​​. Technical analysis reveals that is trading between its immediate support and resistance levels at $2,014 and $2,112, respectively, further suggesting that the rally could pick up momentum once more if these levels are breached to the upside​​.The key takeaway from the current price action and market sentiment is that Ethereum is in a consolidation phase, gathering steam for its next move. While there is cautiousness due to the recent rally’s pause, the overarching market sentiment is tilting toward optimism, with several factors lining up that could act as catalysts for Ethereum’s growth.This article was originally published on U.Today More

Whale activity has been particularly noteworthy, with a spike in transactions to their highest levels in seven months, indicating a flurry of activity among these large capital players​​. This is significant because whale behaviors often prelude broader market trends; when they move, the market watches closely. While some whales have booked profits in the wake of the rally, others have gone on a buying spree, picking up 3,200 coins following the price surge​​​​.One whale, previously inactive for nearly three years, transferred a staggering 26,406 ETH to crypto exchange Bitfinex, realizing a profit of nearly $50 million​​. Another smart whale moved 25,700 ETH to Binance just before the rally, netting gains of $1.5 million as the price pumped​​.However, not all actions by whales suggest a bullish continuation. Some whale investors have been unstaking their and sending them to exchanges to lock in gains, a move that could be interpreted as preparation for a potential downturn​​. Also, a noticeable spike in exchange-related addresses could indicate that some whales are transferring their holdings to book profits, possibly hinting at a cautionary stance toward the immediate future of the market​​.ascent can be partly attributed to the broader market’s return to risk-on sentiment, where investors are gravitating toward assets with solid fundamentals and strong use cases. Furthermore, technical indicators on the daily chart are signaling a bullish trend, with SOL consistently making higher lows and higher highs – a classic sign of a sustained uptrend.The chart reveals a potential support level at the $60 mark, which has recently transitioned from a resistance level to a support level following its breakout. This is a bullish indicator, as what was once a ceiling for price is now a floor, suggesting that has the backing of buyers at this new price point.As for when the rally might lose steam, traders are eyeing the Relative Strength Index (RSI) and trading volume for clues. The RSI is currently in a healthy range, neither overbought nor oversold, which typically provides room for further price appreciation. However, should the RSI approach overbought territory, above 70, the likelihood of a reversal could increase as the asset may be considered overextended.The ADA/USDT daily chart on Binance highlights ADA’s significant uptrend. Currently navigating around $0.3690, ADA’s price stands well above both the 50-day and 100-day moving averages. These key indicators underscore the asset’s robust bullish momentum and point toward a continuation of the upward movement​​.The surge in trading volume accompanying rally is a critical factor supporting optimistic market sentiment. This increased activity is not just reflective of growing investor confidence but also reinforces the likelihood of ADA’s continued rise. Analysts project a 20% leap from current levels, aiming for a price point near $0.44, assuming support levels hold firm and bullish sentiment remains intact​​.However, the inherently volatile nature of the cryptocurrency market suggests that a pullback is always within the realm of possibility. Should ADA encounter resistance or face profit-taking activities, especially around the $0.38 to $0.40 range, we might see a temporary retracement before further gains​​.This article was originally published on U.Today More

The current price action of XRP suggests a tug-of-war between bullish hopes and bearish realities. After the initial surge to $0.74, the price’s retreat and the battle at the 20-day EMA underscore the market’s indecision. Should XRP sustain below this moving average, the next crucial support lies at the 50-day Simple Moving Average (SMA) around $0.56.Despite the current pullback, the broader sentiment for is not devoid of optimism. A breakthrough from the current price trend could trigger renewed interest from buyers, especially if XRP demonstrates the ability to hold above the 20-day EMA and reclaim higher price levels. Such a move could potentially set the stage for another attempt to break past the $0.74 barrier and target the next resistance at $0.85 and beyond.The general analysis for XRP remains cautiously hopeful, with market participants eyeing the $0.74 level as a decisive point for the cryptocurrency’s short-term trajectory. If the bulls manage to gather enough momentum, we might witness a breakthrough that could change the current downtrend into a rallying point for XRP.Another potential reason for successful performance could be its partial decoupling from Bitcoin’s market movements. While the entire crypto market tends to follow Bitcoin’s lead, Shiba Inu’s unique position as a community-driven project allows it to navigate market sentiments independently to a certain extent.The reasons behind lack of a breakout at the current level are multifaceted. One possible explanation could be ongoing consolidation after the surge that typically follows a significant upgrade or development within the network. Ethereum’s transition to Ethereum 2.0 and its shift to proof-of-stake (PoS) consensus might have been priced in, leading to a plateau in price movement as the market adjusts to these fundamental changes.Market sentiment also plays a crucial role in price dynamics. With the broader market still showing signs of uncertainty and risk aversion, investors may be hesitant to place aggressive bets on Ethereum, especially as it hovers around the psychologically important $2,000 level.Another factor is competition from other blockchain platforms that offer similar capabilities, sometimes with lower transaction fees and faster throughput. This competitive landscape could be dampening the momentum that Ethereum might otherwise have.Moreover, the volume of trade and liquidity at the $2,000 level could be creating a barrier, with sell orders possibly stacked at higher levels, preventing significant upward movement.This article was originally published on U.Today More

In a filing with the United States Securities and Exchange Commission (SEC) on November 17, Fidelity proposes to list and trade shares of the Fidelity Ethereum Fund on the Cboe BZX Exchange. Continue Reading on Cointelegraph More

Despite the volatility of the DeFi market, there are ways for traders to catch onto when the niche crypto sector begins to show sustained bullish momentum. Three of the most important metrics to watch are TVL, a platform’s fee revenue and the number of non-zero wallets holding tokens.Continue Reading on Cointelegraph More

The authors used a “money view” of stablecoin and an analogy with onshore and offshore USD settlement to probe the weaknesses of stablecoin settlement mechanisms. Continue Reading on Cointelegraph More

Altman could not immediately be reached for comment.Continue Reading on Cointelegraph More

As of Nov. 17, XRP’s price is around $0.60, down nearly 9.5% week-to-date, including a 7.5% decline in the last 24 hours. The downtrend mirrors price behaviors across most top-ranking cryptocurrencies. However, XRP has underperformed the crypto market, which fell merely 2.5% this week.Continue Reading on Cointelegraph More