The Binance token is 10% from a new all-time high—should you buy?

Today, the BNB price fell 1.5% to $610.69, remaining 10% below its all-time high of $686.

BNB achieved this record high in May 2021, but with Ethereum ETF prospects boosting the market, it might set a new high in the coming days.

The alt is up 5% in a week and 95% in a year, and Binance is the largest crypto-exchange by volume, so demand is certain to continue.

ETH ETF approvals today might spark another rise for BNB, and rate cuts could push it much higher by 2024.

Today's decrease may disappoint traders who anticipated the gains of the last two days to continue, but it puts them in a strong position to purchase BNB at a discount before it may return today and over the weekend.

A relative strength indicator (purple) below 50 this morning suggests the market is overselling BNB, indicating a cheap price.

Chart for BNB.
From TradingView
BNB's 30-day moving average (orange) is falling toward the 200-day (blue), indicating weakening.

Since it had recently crossed above the longer-term average, it may rise again soon since the currency looks to be in a medium-term growth phase.

BNB's 24-hour trading volume, at $1 billion, is double from two days before, which is positive.

This means that traders will rush in to purchase the token's decline, which will be minimal.

As said, the market awaits the SEC's judgment on multiple spot-based Ethereum ETF applications.

Many anticipate the SEC to approve the ETFs filed by VanEck and ARK Investments/21Shares.

If so, BNB and other major alts will rise, including ETH.

As the largest cryptocurrency exchange, Binance will profit from rising demand.

While Binance faces regulatory obstacles in Nigeria and abroad, its position remains solid.

The currency may hit $650 in the coming weeks as BNB prices rise.

#BinanceLaunchpool #BNB #altcoins #buythedip $BNB

💰💰💰💰ETH purchasing may rise 60% with ETF approval💰💰💰💰💰

The U.S. approval of spot ether ETFs might boost the token's value, similar to bitcoin ETFs.

Bitcoin rose to over $73,000 from $42,000 in the two weeks after the ETF started trading on Jan. 11

"With Friday implied volatility above 100%, the market is expecting fireworks," warned QCP. The DTCC listed VanEck's ETF. We believe clearance is imminent, with trade anticipated next week.”

Implied volatility quantifies the market's prediction of financial instrument price changes.

On-chain analytics company CryptoQuant said Wednesday that centralized and blockchain-based crypto exchanges saw more buying. Holders acquired over 100,000 ETH in spot exchanges on Tuesday, the largest day volume since September 2023, as word of a positive ruling spread and experts raised probabilities to above 75% from 25%.

Wednesday saw the greatest daily ether influx since September at 100,000. (CryptoQuant)

Open interest on ether-tracked futures reached a record $14 billion. That's 67% of bitcoin open interest on Wednesday, extraordinarily high.

The Chicago Mercantile Exchange, preferred by institutions, saw ether futures trade a record $2.85 billion on Tuesday, according to a spokeswoman. Ether options exchanged a record 1,135 contracts ($216 million).

CryptoQuant said that traders are now exposed to ETH more than Bitcoin. "The largest daily spot buying from ETH permanent holders so far in 2024."

It claimed investors contributed 62,000 ETH to exchanges, the largest since early March, which might affect ether prices. “High exchange flows usually cause price volatility.”

The firm's analysts predicted a “significant price correction” if the ETF proposal is rejected.

Six issuers, including BlackRock, amended their ether ETF proposals this week before a decision today. All dropped plans to stake the token, suggesting a regulatory issue.

Staking involves locking a coin for a specific time to sustain a blockchain for a payout. Crypto traders consider these awards passive income.

#ETHETFS #altcoins #BTC #ETH $ETH

Top 3 meme coins Dogecoin, Shiba Inu, Bonk: Dog meme marketplace reaches $50 billion

On Thursday morning, Dogecoin creator Billy Markus discussed AI breakthroughs.

Shiba Inu token trading began on a crypto market Wednesday.

Users may trade Bitcoin for Bonk on Atomiq, which may increase adoption.

Dog-themed meme coins According to CoinGecko, Dogecoin (DOGE), Shiba Inu (SHIB), and Bonk (BONK) contributed to the category's $48.6 billion market worth.

DOGE and SHIB prices were practically steady on Thursday, while BONK rose 11.40%.

DOGE founder worries about AI, advantages might extend
Dogecoin creator Billy Markus tweeted on X about fast-advancing AI technologies. OpenAI and other industry leaders' releases have made AI more relevant in the crypto ecosystem.

Dogecoin might fill the Fair Value Gap and decrease again after DOGE reaches this level.

DOGE might reach the 61.8% Fibonacci retracement level at $0.16165 if it fails to breach resistance at $0.17449.

Shiba Inu trades live on crypto market, expects 13% gains
Shiba Inu might earn 13% from $0.00002529. The Moving Average Convergence Divergence indicator's green histogram bars and RSI at 53.97 support SHIB's sustained advance.

Based on daily data, SHIB began its rise on Monday, May 13. Meme coin has supported $0.00002476 for approximately three days. From its March 5 high of $0.00004567 to its April 13 low of $0.00001830, Shiba Inu's drop is 23.6% Fibonacci.

SHIB might sweep liquidity at $0.00002251, the base of the March 4–May 21 declining triangle. SHIB might lose 10 days of profits if it falls below $0.00002251.

Bonk and cross-chain DEX allow swaps

Bonk teamed with cross-chain decentralized exchange Atomiq to facilitate Bitcoin-Bonk exchanges. Bitcoin may be traded for Bonk on X without slippage or counterparty risk, according to an official tweet.

BONK rose 11.40% Thursday. The meme currency may climb 11% to $0.00004032, the 78.6% Fibonacci retracement of its drop from March 4's $0.00004800 to April 13's $0.00001212.

#ETHETFS #PEPE‏ #DOGE #SHIB #BONK $BONK

💰💰💰💰Bitcoin plans $100K raise🚀🚀🚀🚀

For the third day, the crypto market remained calm with a $2.6 trillion capitalization. Bitcoin's failure to break $70K is dampening excitement. It lost 0.3% in 24 hours while Ethereum rose 0.6%.

The leading cryptocurrencies have fluctuated between -2% for Dogecoin, -1.5% for Solana, and 1.5% for Toncoin.

Bitcoin technically stays around the declining range's top limit. The fledgling crypto market also values $70K round level. Rising would breach two boundaries. The price might reach $73.5K shortly due to growing velocity. A more distant and crucial objective may be $95K-$100K, where the lower boundary is the 161.8% January-March increase and the higher barrier is an important round level.

Trading platforms were informed that the US SEC is "leaning towards" issuing a spot Ethereum-ETF. Barron's quotes unnamed sources. The article stated the SEC has asked comments on the petitions, which might be approved this week if filed in time.

Bloomberg says five management firms provided amended SEC papers. The US National Settlement Depository (DTCC) asset list includes VanEck and Franklin Templeton spot ETH-ETFs ETHV and EZET.

According to Bloomberg, the SEC's interaction with firms is crucial and may signal a policy shift. However, several analysts observed political implications in the regulator's actions.

Should spot Ethereum-ETFs be allowed, Matrixport expects cryptocurrency Solana (SOL) might launch exchange-traded funds next.

Decentralised exchange Uniswap urged the SEC to rethink its complaint, noting the agency's harsh tactics and poor legal basis. Legal action against the regulator is planned by Uniswap.

SEC chairman Gary Gensler said the House of Representatives' bitcoin market structure bill does not define digital assets as securities, endangering investors.

#ETHETFS #btc70k #BTC #buythedip $BTC

Shiba Inu Burn Rate Rises 434% During Market Recovery; Can It Reach $0.0001?

After a slow week, Shiba Inu burn rate increased again. The burn rate has increased over 400% in 24 hours, moving with the Shiba Inu price as the crypto market rallies.

Shibburn, a burn monitoring website, reports a large increase in token burns during the previous several days. In the past 24 hours, 18 burn operations have burned about 14 million SHIB tokens.

This is 434% more than 2.6 million the day before. Burn volume has dropped 67% from Monday, therefore this is good news for meme currency. Burn transactions are also rising, indicating Shiba Inu holders' desire to reduce token supply.

The previous 24 hours saw 8 burn transactions transferring over 1 million tokens to the burn address. Of course, these addresses burn the most tokens, along with smaller transactions.

Despite this considerable daily burn rate rise, weekly burn rate is still struggling. Over 42.4 million tokens have been burnt, according to Shibburn. However, it is down 70.41% from last week's total, indicating that this week's burns are falling short. However, moving SHIB coins to the burn address benefits the ecosystem, however slightly.

Price To $0.0001 With SHIB Burn?

The Shiba Inu burn campaign reduces token supply to boost SHIB prices. Since SHIB supply exceeds 500 trillion, this limited its upward potential. By decreasing supply, the community aims to boost demand.

SHIB burn has proceeded slower than predicted. Two years after its launch, the burn has not reached 1 trillion tokens. About 410.7 trillion tokens have been burnt. Vitalik Buterin burnt 410 trillion tokens handed to him in 2021. This implies the community has burnt 700 billion tokens since the burn started.

This pace makes it unlikely that the Shiba Inu burn will push SHIB to $0.0001. However, with the crypto market improving and Bitcoin surging toward a new all-time high, SHIB might reach this value, which would be a 300% rise from its present price.

#SHIB #PEPE‏ #buythedip #altcoins $SHIB

The court case wins for Binance

The First District Court of Appeals in Florida unanimously rejected a permanent ban on Binance, the world's biggest cryptocurrency exchange, in a major cryptocurrency industry development.

The court found that the state's financial authorities had violated protocols while issuing an emergency suspension order, denying Binance the right to function in the state, Bloomberg Law reported.

The court noted that the authorities failed to support their legal judgments, notably on Zhao's potential hazard.

The court noted that the authorities failed to prove Zhao's activities jeopardized public health, safety, and welfare, hence the immediate suspension order was unconstitutional.

Binance won the court case, but it has also encountered regulatory issues elsewhere. The Alaska banking division also denied Binance.US's license renewal over the same time.

Zhao received a less punishment than federal prosecutors' three-year jail term. Instead, the defense demanded five months of probation, which worked.

The settlement required Binance to pay $4.3 billion in penalties and forfeiture. Changpeng Zhao personally paid a $50 million fine.

Following this event, Binance's native coin, BNB, has shown fresh positive momentum in accordance with the market rise driven by major cryptocurrencies over the last week.

BNB has gained 4% in the last 30 days and 7% in the past week. Consequently, its market price is $620.

In the 2021 bull market, the fourth-largest cryptocurrency reached $686, its all-time high.

BNB trade volume has dropped 66% in recent days, reaching $1 billion in the previous 24 hours, according to CoinGecko. However, if the uptrend continues, there are just a few resistance levels to watch before a retest of its ATH.

The BNB/USD 4-hour chart shows that $621.5 and $633 are the next major resistance levels the coin must cross to continue rising.

BNB bulls must watch the support lines at $614 and $605 to avoid a decline that might hit $600.

#pizzaday #BNB #Binance #altcoins $BNB

Amid speculation of an exchange-traded fund, Dogecoin transactions have surged by more than 50%.

There has been a dramatic uptick in activity from institutional investors, or "whales," in the meme-inspired cryptocurrency Dogecoin (DOGE).

According to recent statistics, the value of large transactions has almost quadrupled in the last day.

There has been a dramatic spike in the value of these huge transactions over $100,000 during the previous 24 hours, according to statistics from IntoTheBlock. Thanks to this meteoric rise, the whole value shot up from $1.53 billion to almost $3.01 billion.

At the same time, the amount of DOGE that these whales moved increased from 9.74 billion to 17.97 billion, showing that there was a significant surge in investor activity and movement within the Dogecoin ecosystem.

Coinciding with this dramatic increase in whale transactions is the growing amount of chatter within the crypto community about the possibility of a Dogecoin ETF being approved.

The excitement around the prospect of an Ethereum ETF has led some to speculate that DOGE would be the next cryptocurrency to get its own ETF.

In the middle of all the speculation, a prominent crypto enthusiast named Vee posted on X suggesting that Dogecoin would be perfect for an ETF due to its huge acceptance and non-security status.

By cynically pointing out the possible advantages and disadvantages, the post demonstrated the double-edged character of conventional financial institutions' interest in Dogecoin.

A Dogecoin ETF would be "amusing," as Billy Markus, one of the coin's co-creators, put it in a sarcastic remark on the rumor. This attitude is appropriate given DOGE's playful beginnings, but it doesn't diminish the serious investing opportunities presented by current market tendencies.

The 11.2% gain in Dogecoin value over the last week is a reflection of the overall upward trend in the cryptocurrency market. The cryptocurrency has climbed 0.7% in the last day, although just a little, and it is now trading at $0.168.

#DOGE #PEPE #ETHETFS #btc70k $DOGE

Forecasting the Future Value of Pepe as Its Price Soars 30% to a Record High—Is a 100x Increase Possible?

Investors are wondering whether the meme currency Pepe (PEPE) may potentially achieve 100x gains as its price continues to surge to new record highs, having increased by 30% in the previous week.

With a market worth of over $5.7 billion, Pepe was last trading at approximately $0.00001350.

With a 100x rise, Pepe's market valuation would reach $570 billion.

The vast majority of cryptocurrency analysts believe that Pepe has no possibility of reaching this level, at least in the near future.

Ethereum, the most popular blockchain that supports smart contracts, uses the cryptocurrency Ether (ETH), which has a market valuation of just $450 billion.

Pepe Price Forecast: How Much Higher Could It Climb?
Given Pepe's current high market value, striving for 100x gains is perhaps too optimistic, but the prognosis is still bright.

As speculation of an Ethereum ETF from the SEC increases, buyers of the meme currency launched by Ethereum have been active.

It seems like these traders are putting their money on Pepe becoming one of the main winners from the rapid expansion of the Ethereum ecosystem.

Even now, Dogecoin has a fourfold larger market valuation than Pepe. Additionally, Dogecoin's bull market value might increase by a factor of two or three.

This indicates that it has the potential to generate profits of 10x from here, provided that Pepe catches up.

This would indicate that the Pepe price may potentially reach $0.00010 by erasing another zero.

#PEPE‏ #altcoins #buythedip $PEPE

Standard Chartered Analyst Says Bitcoin Will Reach New ATH Above $73,700, You Won't Believe The Timeline

Standard Chartered analysts anticipate Bitcoin might reach fresh highs over $73,700. This prediction is somewhat higher than the cryptocurrency's last peak and has an unexpectedly ambitious timescale.

Bitcoin, the world's biggest cryptocurrency, is expected to rise, according to Standard Chartered's Geoff Kendrick. Kendrick told TheBlock in an email that Bitcoin would break out of its all-time high on March 14, 2024, and skyrocket to $73,798.

The expert predicts Bitcoin will reach the price objective by the weekend in current bullish rise. Spot Bitcoin ETF inflows may explain this price surge, according to Kendrick.

Early on May 21, Farside investors reported Spot Bitcoin ETFs' strongest inflow week in two months. IBIT, BlackRock's Bitcoin Trust ETF (IBIT), had the greatest inflows of $290 million.

Since January 11, Spot Bitcoin ETFs have received almost $13 billion in inflows. This increasing demand and money, which helped Bitcoin reach a new all-time high in March, might spur future gains.

Kendrick also said that the SEC's approval of Ethereum Spot ETFs might significantly affect Bitcoin's price. The researcher predicts Bitcoin will soar to $150,000 by 2024 and $200,000 in 2025.

Bitcoin is now selling at $70,013, down 1.39% in 24 hours, according to CoinMarketCap. Over the previous week, the cryptocurrency has seen regular price spikes, leading to a 12.86% rise.

According to popular crypto researcher Michael van de Poppe, Bitcoin is up over 20% from its $56,000 lows earlier this year. The SEC's approval of Spot Bitcoin ETFs caused a big price increase for the pioneer cryptocurrency, thus an Ethereum Spot ETF might raise its price further.

Crypto expert Ali Martinez believes Bitcoin has high price potential and fundamentals, indicating a bullish breakout.

#pizzaday #BTC #buythedip #btc70k $BTC

Can You Buy Bonk Now That a Multi-Millionaire Trader Is Predicting a Rally?

Despite a 0.5% decline in the overall cryptocurrency market over the last 24 hours, the price of Bonk has increased by over 1% today, hitting $0.00003187.

BONK, the meme token based on Solana, has risen by an astounding 7,900% in a year, as well as 31% in a week and 54% in a month.

Indicators for Bonk indicate a decrease in momentum, suggesting a little correction after the recent surge.

In instance, the purple relative strength index (RSI) of the coin has fallen from 85 on Sunday and Monday to around 50 today, and there is still lot of space for the currency to fall until it is clearly oversold.

Although it isn't climbing quite as rapidly today, the 30-day average (orange) is still growing gradually beyond the 200-day average (blue), so its other indications don't seem too awful either.

An encouraging development is that BONK's volume has increased from $180 million a few days ago to slightly over $800 million, maintaining a high level.

Support (green) and resistance (red) levels for BONK are both going up, which is positive since it means the currency will likely trade in an upward band.

As fresh statistics shows, a large portion of the coin's rising circulation is attributable to whales' rekindled interest.

Given that the market as a whole seems to be beginning a new bull phase, this level of interest may last for some time.

The reason for this is because tomorrow is the deadline for a batch of spot-based Ethereum ETFs, and it seems like the SEC is prepared to approve many of them.

Approval won't have an immediate impact on BONK pricing, but it will increase optimistic sentiment in the market, which is good news for Bonk.

When compared to other meme tokens, BONK seems to have a better chance of seeing a rise in the near future, according to some traders.

Therefore, the Bonk price may hit $0.000035 in the next weeks, with a possible return to its all-time high of $0.00004547 by the end of the fourth quarter.

#pizzaday #BONK $BONK #altcoins #BinanceLaunchpool

🔶BINANCE SQUARE CREATOR AWARDS 2023🔶

🏆CREATOR OF THE YEAR - INDIVIDUAL

🏆EXCELLENCE AWARD - TOP VOICE

💪I am proud to receive both awards.

🙏Thank you @null for honoring me in this way.

@Binance Global Türkçe @CZ

#Binance #BinanceSquare #BinanceLaunchpool $BNB

Ethereum Had The Biggest One-Day Point Move Ever On

Ethereum's one-day point rise was the biggest ever on May 20, after SEC approval rumors this week.

Rada Mateescu Rada MateescuAuthor verified May 22, 20242 reads

Ethereum made the biggest one-day point change ever.
The SEC may approve ETH ETFs this week, prompting the move.

Ethereum has the greatest one-day point shift ever, according to Matrixport. This follows various rumors that the SEC may authorize ETH ETFs this week.

Matrixport reports May 20 as the biggest one-day point.

Matrixport said the SEC and FOMC meeting might spur Ethereum ETF approval.

They presented an X graph of Ethereum's 2021 and 2024 one-day point changes.

Bloomberg's James Seyffart stated on his X account earlier today that at least five Ethereum ETF producers had filed updated applications to CBOE.

Fidelity, VanEck, Invesco/Galaxy, Ark/21Shares, and Franklin Templeton.

Seyffart said that crypto items may be too far off to debut. In contrast, these documents confirm all speculations and conjecture concerning the matter.

Syeffart also said that crypto product Bloomberg clearance probability remain at 75%.

On May 20, Bloomberg's Eric Balchunas and Seyffart upgraded Ethereum ETF approval probability from 25% to 75%. Political pressure may be the cause, he suggested.

Standard Chartered Bank Head of FX Research and Digital Assets Research Geoff Kendrick also expressed confidence for SEC Ethereum ETF approval.

Recent predictions from Coin*** include crypto product clearance.

In an official blog post, they stated that ETH's past trading patterns suggest it benefits from “store-of-value” and “technology-token” storylines.

They also claimed Ethereum

According to Decrypt, Coin**** said that “while there is uncertainty around a timely approval given the SEC’s apparent silence with issuers,” a crypto product will soon enter the market.

According to official sources, the US SEC will rule on VanEck and Ark Invest petitions tomorrow, May 23, and Friday, May 24.

#ETHETFS #altcoins #btc70k $ETH

With fresh prospects for ETF clearance, PEPE achieves new heights and the price of ETH jumps

Speculation over the possible acceptance of spot Ether exchange-traded funds (ETF) in the United States drove the 27% jump to a new all-time high in the previous 24 hours for the Ethereum-based memecoin Pepe.

In an article on May 21st, crypto trader Matthew Hyland said that PEPE is likely the most suitable memecoin investment for the ETH ETF.

One of the most blatant hindsight trades is PEPE, which is moving in tandem with ETH, as the pseudonymous crypto trader "Kaleo" pointed out.

In an unexpected turn of events for analysts and the crypto sector, there is fresh optimism that the U.S. Securities and Exchange Commission (SEC) is working to approve spot Ether ETFs by a May 23 deadline. As a result, Ether (ETH $3,735) has jumped 23.28% in the previous two days to $3,785.

Data from CoinMarketCap shows that Pepe (PEPE) has risen 23.48% in the last 24 hours, trading at $0.00001387.

An anonymous crypto trader named "Plazma" predicts that PEPE's rising trend will continue, with minor episodes of volatility interspersed throughout.

PEPE price discovery is expected to continue over the next weeks, interspersed with the expected short pauses and pullbacks. They said in a post on May 21st that they would be at 2x-3x in a matter of weeks.

Meanwhile, data from CoinGlass shows that the open interest (OI) in PEPE, which is a measure of the total value of all outstanding PEPE futures contracts across crypto exchanges, increased by 40% to $172.96 million in the previous 24 hours.

A large number of traders are in long positions, which is a common indicator of increased confidence among cryptocurrency traders as the OI rises.

The company would sell off $10 million worth of long holdings if PEPE's stock fell 6 percent.

Among the top ten memecoins by market size during the last 24 hours, PEPE saw the largest price increase, while other prominent memecoins also had substantial price rises over the last week.

#ETHETFS #pepe $PEPE #buythedip #pizzaday

Donald Trump Campaign Uses Bitcoin, ETH, XRP, Dogecoin, SHIB For Election War Chest

Donald J. Trump, the first major party presidential contender to embrace Bitcoin and other cryptocurrencies, stated his campaign would accept them. Official campaign press release.

The Trump campaign's latest fundraising drive uses Bitcoin, Ethereum, Ripple, Dogecoin, and Shiba Inu. Through Coinbase Commerce, retailers may receive numerous cryptocurrencies straight into a user-controlled wallet and donate these.

The campaign's news release says the move adds “to President Trump’s already groundbreaking digital fundraising operation [and] marks the first time a major party Presidential nominee has embraced cryptocurrency for donations.” The campaign's digital fundraising operation will expand, and this is a political statement in support of Bitcoin and crypto's role in financial freedom and innovation.

The campaign strongly supports bitcoin, unlike Democratic opponents like President Joe Biden and Senator Elizabeth Warren, who are skeptical about its value and regulation. Senator Warren has called the crypto industry a ‘shadowy system’ that requires more regulation, which the press release singles out.

He advised paying Trump in bitcoin or crypto to maximize individual contributions. We have his attention. Decisions abound. We want to support this move with strong statistics and propel him forward. It's everything on the table. With 3,000 individuals contributing up to $10m in 48 hours, Trump will be blown away.

The Trump campaign says crypto donations will follow FEC rules. Similar to stock gifts, these donations will be recorded as in-kind contributions, making accounting transparent. Donors are led to a link on Trump's campaign website where they may use Coinbase Commerce to order a variety of cryptocurrencies.

As Trump's campaign resources have grown, exceeding President Biden in April fundraising, this strategic move is crucial.

#btc70k #buythedip #Trump #DOGE #altcoins $DOGE $BTC

Inflows of $306M Hit Bitcoin ETFs, and BTC Caught Near $70,000

Bitcoin ETFs saw about $306 million in net inflows yesterday, according to new data from SoSoValue; the cryptocurrency is now trading around $70K

On May 21, over $306 million was poured into Bitcoin ETFs.
It's presently trading around $70K BTC.

On May 21, Bitcoin ETFs received about $306 million in net inflows, according to the most recent statistics from SoSoValue.

A recent day witnessed a net inflow of $26 million to Fidelity's FBTC Bitcoin ETF and a single-day net inflow of $290 million to BlackRock's IBIT Bitcoin ETF. No funds were added to or removed from Grayscale's Bitcoin ETF, GBTC.

The same data also shows that the total net asset value of Bitcoin ETFs was $58.9 billion.

Bitcoin ETFs have had inflows for seven days running as of May 21.

According to statistics from CoinMarketCap, Bitcoin is now selling for about $69.8k, representing a decrease of over 2% over the previous 24 hours.

The fresh CPI report showed encouraging statistics of a 3.4% lowered inflation rate for April on May 15, which sent Bitcoin on a bullish ride for the last week.

Predictions of further price gains for Bitcoin followed last week's and today's positive trends.

Blockchain programmability was recently mentioned by Bitcoin developers as a possible price driver.

Additionally, prominent cryptocurrency expert Willy Woo has offered commentary on Bitcoin's recent price surge, stating that the price must remain consolidated below its all-time highs for a period of time before the coin may see new all-time highs.

A new all-time high (ATH) for Bitcoin may be in sight, according to recent reports from the Matrixport crypto platform.

Matrix on Target had been predicting a consolidation for much of the last several months, but their most recent two weekly reports have been constructive and optimistic again, according to their X account article.

Former President Trump was referred to by the Matrixport team as Bitcoin's "biggest upside risk" because to his positive actions.

#BTC #btc70k #buythedip $BTC

🚀🚀🚀Dogecoin Forms Bullish Triangle, Analyst Reveals Next Target

Dogecoin is rising as Bitcoin recovered over $71,000. This excitement has spread to the crypto market, and DOGE has passed $0.16 barrier. With Dogecoin's bullish triangle formation, one expert expects this trend to continue.

Dogecoin Triangle Pattern Promises Growth
Crypto expert Lingrid noted an intriguing Dogecoin chart pattern on TradingView. The expert says the meme coin created a triangular formation, which is optimistic for the price.

The crypto expert stated that the market has been consolidating below the triangle's top edge. Triangle patterns typically cause price squeezes, which are positive for their prices.

Lingrid found a Dogecoin range zone above $0.15, which helped build the triangle. This is because a range zone indicates accumulation and the price should move. The crypto researcher says that with the “consolidating just below the upper border of the triangle,” this time it is positive for the price.

Additionally, meme currency has been making higher lows, indicating a persistent bullish trend. If the price breaches the downward trendline, we should predict a bullish surge. If the price breaches the range zone and closes above it, the market may rise. Lingrid says resistance at 0.17500 is his goal.

Dogecoin has risen this week as investors have shown interest in the humor currency. The digital asset's trading volume has increased by almost 130% in the previous week. At the time of writing, Coinmarketcap data indicates trade volume up 132% to approximately $2 billion.

Dogecoin open interest has also increased, indicating traders are wagering big on the DOGE price. In the previous 24 hours, Coinglass data showed an 18% growth to $921.4 million. Open interest has reached its highest level in a month, reversing the negative trend. Higher open interest has been connected with higher prices. In this circumstance, the price surge should continue.

#altcoins #BTC #buythedip #DOGE #memecoins $DOGE

Will XRP Hold 100 SMA and Rise Again?

Price of XRP rose over $0.5450 barrier. The price is reversing gains and may stay above the 100-hourly SMA.

XRP rose over $0.5450 barrier.
The price is above $0.5250 and the 100-hour SMA.

The hourly XRP/USD chart shows a bullish trend line with support at $0.5330.

After correcting gains, the pair might rise again until it closes below the 100-hourly SMA.

XRP Stays Put

XRP, like Bitcoin and Ethereum, stayed bullish after closing over $0.520. It crossed $0.5320 and $0.5450 resistance. The price surged over $0.550.

After hitting a weekly high of $0.5571, the price is correcting. Price fell below $0.5450. The price fell below the 23.6% Fib retracement level of the ascending wave from $0.5065 swing low to $0.5571 high.

It's above $0.530 and the 100-hour SMA. On the hourly XRP/USD chart, a bullish trend line with support around $0.5330 is formed.

Resistance around $0.5380 is immediate. Near $0.5450 is the initial resistance. A closing above $0.5450 resistance might boost prices. Around $0.5570 is the next resistance. Bulls might push the price over $0.5570 barrier and steadily rise above $0.5650. More advances might push price toward $0.5720 barrier.

Without clearing the $0.5450 barrier zone, XRP may continue to fall. The trend line and $0.5330 provide first downward support. It is around the 50% Fib retracement level of the ascending wave from $0.5065 swing low to $0.5571 high.

The next significant support is $0.5250. Main support is about $0.5185. If the price breaks down and closes below $0.5185, it may accelerate downward. In this situation, the price may decrease to $0.5065 soon.

Tech Indicators

Hourly MACD - XRP/USD's bullish MACD is declining.

Relative Strength Index hourly XRP/USD RSI is below 50.

Key Support Levels: $0.5330, $0.5185.

Key Resistance Levels: $0.5450, $0.5570.

#btc70k #altcoins #buythedip #xrp #Ripple $XRP

Cardano Price Prediction: Breakout might unleash 20% rally

The Cardano price increase on Monday implies a bigger positive trend.

On-chain data reveals institutional investor interest

If ADA falls below $0.456, the 61.8% Fibonacci retracement, investors may buy again.

Technical indicators and on-chain measures suggest a 15% surge for Cardano (ADA) following Monday's 7% price gain. The “Ethereum-killer” price action has established a double-bottom technical pattern and broken over $0.47 resistance, a positive indication backed by rising network activity.

Cardano breached $0.47 barrier on Monday and has stayed above it in the four-hour time period. From May 10 to 15, the Relative Strength Index (RSI) showed higher lows while prices formed lower lows, a positive divergence. A rise above the oversold region might trigger a new long trade due to bullish momentum.

After twice rebounding off $0.42, Cardano pricing peaked at $0.47 in the early part of May. A bottom reversal pattern like this ‘W’ (double-bottom pattern) frequently favors bulls and signals a trend change. If bullish momentum continues and ADA breaks resistance at $0.52, a daily high from April 22 and the monthly pivot level of April, it may rise 15% to $0.60, the April 11 high.

In a drop, the Volume Profile indicator suggests $0.47–$0.45 as support. Investors may purchase the dip here since it has the biggest trading volume. This sector is also near the 61.8% Fibonacci retracement level at $0.45, making it a high-probability reversal zone.

On-chain Cardano indicators support the bullish thesis. IntoTheBlock data reveals active addresses rose sharply to 38,620 on May 20 from 21,640 on May 12. This shows Cardano demand is rising.

If Cardano's daily candlestick falls below $0.42, the price will produce a lower low compared to the May 15 swing low, continuing the downtrend and likely scaring investors into selling. This will disprove the bullish thesis, causing a 7% drop to $0.39, a significant barrier between mid-April and mid-November 2023.

#altcoins #cardano #ada $ADA #buythedip

Ethereum Price Prediction: $10,000 ETH Potential Before ETF Decision Deadline?

The SEC requested updated paperwork from Ethereum ETF applicants before Thursday, driving the price up to $3,657.

Analysts expect the SEC to approve ETH ETFs this week, making Ethereum the second cryptocurrency after BTC to offer spot-based ETFs in the US.

This news has helped ETH gain 18% in 24 hours, 25% in a week, and 15% in a month.

The coin's 100% year-to-date return and ETF approvals might lead to significant rallies soon.

In the last 12 hours, ETH's price and indications have gone over the roof.

Today, its relative strength index (purple) crossed 90, indicating momentum. It is still at 80.

The 30-day average (orange) is also significantly above its 200-day (blue), indicating that ETH has entered an expansionary period and still has room to rise.

Volume has increased to $36 billion from $7.5 billion a day earlier, which is encouraging.

The cryptocurrency is certainly popular, with traders and investors wanting to get into ETH before any spot-based ETF is approved.

Due to the SEC's request to hastily refile before a deadline, sources say approvals might come this week.

Some believe approvals will occur on Thursday, May 23, due to the request for “accelerated” refilling.

ETH is anticipated to climb till this date.

While the cryptocurrency market tends to favour ‘buy the rumor, sell the news’, spot-based ETH ETFs will boost Ethereum prices in the medium and long run.

In February and early March, institutions joined the ETF bandwagon that started in January, affecting Bitcoin's price and volumes.

If ETFs are approved this week, ETH might hit $5,000 by summer.

#ETHETFS #btc70k #altcoins #buythedip $ETH

Supporting L2 Blockchain Innovations, Binance Invests in Aevo

In order to back the development of second-generation blockchain technologies, Binance Labs has just announced that it would invest in the Aevo decentralized derivatives exchange platform.

Aevo has now received funding from Binance Labs, paving the way for further advancements on the L2 blockchain.

Option and perpetual contract trading is at the heart of Aevo, a decentralized derivatives exchange.

In order to back the development of innovations for the L2 blockchain, Binance Labs has just announced their new investment in Aevo.

Aevo is a high-performance Layer 2 developed on top of the OP Stack that enables perpetual trading, pre-launch futures, and options; Binance Labs is Binance's startup funding and incubator arm. Using a single margin account, they are all on the same platform.

Using Celestia as a high-throughput DA layer for scalability, the technological architecture functions as an off-chain order book with on-chain settlement on Ethereum.

As approved in Ribbon Finance's RGB-33 governance proposal, Aevo is a rebranding of the former DeFi options system Ribbon Finance and is funded by Paradigm, Dragonfly, and Coinbase Ventures.

An official release from Binance states that the DAO communities will launch new efforts for rewards, token liquidity, and community development during the next growth phase. These activities will aim to increase the platform's user base and liquidity.

Aevo has produced over $80 billion in derivatives volume and over $30 million in fees with an average of 50,000 active users each month on the platform, according to Binance.

A road plan for the future

Aevo staking, yield products, and strategy launches are all in the horizon for the company. In addition to enhancing Aevo L2's user base and feature set, it will open the door for developers to permissionlessly launch their decentralized applications (dApps), thereby increasing the ecosystem of derivative goods.

#BinanceLaunchpool #Binance #Aevo $AEVO #altcoins