BNB price is attempting a fresh increase from the $550 zone. The price cleared the $600 resistance and might extend its increase above $630. BNB price started a fresh increase after it cleared the $550 resistance zone. The price is now trading above $580 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support at $592 on the 4-hour chart of the BNB/USD pair (data source from Binance). The pair could gain bullish momentum if it clears the $608-$610 resistance zone. BNB Price Gains Strength After forming a base above the $520 level, BNB price started a fresh increase. There was a steady increase above the $550 and $565 resistance levels, like Ethereum and Bitcoin. The bulls pushed the price above the $580 pivot level and the 61.8% Fib retracement level of the downward wave from the $630 swing high to the $512 low. More importantly, the price is now trading above $580 and the 100 simple moving average (4 hours). It is consolidating just above the 76.4% Fib retracement level of the downward wave from the $630 swing high to the $512 low. There is also a key bullish trend line forming with support at $592 on the 4-hour chart of the BNB/USD pair. Source: BNBUSD on TradingView.com Immediate resistance is near the $608 level. The next resistance sits near the $630 level. A clear move above the $630 zone could send the price further higher. In the stated case, BNB price could test $650. A close above the $650 resistance might set the pace for a larger increase toward the $680 resistance. Any more gains might call for a test of the $720 level in the coming days. Are Dips Supported? If BNB fails to clear the $608 resistance, it could start a downside correction. Initial support on the downside is near the $592 level and the trend line. The next major support is near the $585 level. The main support sits at $570. If there is a downside break below the $570 support, the price could drop toward the $550 support. Any more losses could initiate a larger decline toward the $532 level. Technical Indicators 4-Hours MACD – The MACD for BNB/USD is gaining pace in the bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level. Major Support Levels – $592, $585, and $570. Major Resistance Levels – $608, $630, and $650.

Ethereum price is gaining pace above the $3,120 resistance zone. ETH could continue to move up unless there is a daily close below the $3,030 level. Ethereum extended its increase above the $3,150 resistance zone. The price is trading above $3,150 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $3,160 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up unless the bears push it below the $3,030 zone. Ethereum Price Extends Increase Ethereum price started a recovery wave and was able to clear the $3,000 resistance, like Bitcoin. ETH even climbed above the $3,050 and $3,120 resistance levels to move into a positive zone. It traded to a new weekly high at $3,234 and is currently consolidating gains. There was a minor decline below the $3,200 level. Ether dipped below the 23.6% Fib retracement level of the recent increase from the $3,120 swing low to the $3,234 high. Ethereum is now trading above $3,150 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $3,160 on the hourly chart of ETH/USD. The trend line is close to the 61.8% Fib retracement level of the recent increase from the $3,120 swing low to the $3,234 high. Immediate resistance is near the $3,210 level. The first major resistance is near the $3,235 level. The next key resistance sits at $3,280, above which the price might gain traction and rise toward the $3,350 level. Source: ETHUSD on TradingView.com A close above the $3,350 resistance could send the price toward the $3,500 resistance. If there is a move above the $3,500 resistance, Ethereum could even test the $3,550 resistance. Any more gains could send Ether toward the $3,720 resistance zone in the coming days. Downside Correction In ETH? If Ethereum fails to clear the $3,235 resistance, it could start a downside correction. Initial support on the downside is near the $3,175 level. The first major support is near the $3,160 zone and the trend line. The main support is near the $3,150 level and the 100-hourly Simple Moving Average. A clear move below the $3,150 support might increase selling pressure and send the price toward $3,030. Any more losses might send the price toward the $2,850 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $3,150 Major Resistance Level – $3,235

A recent analysis paints a rosy picture of Bitcoin’s future, even with a conservative growth projection. Taking to X, Michael Sullivan predicts that the world’s most valuable coin could reach a staggering $245,000 within just five years if it maintains a mere 30% compound annual growth rate (CAGR).  Bitcoin Projections: From Conservative To Exponential Growth The analysis explores various growth possibilities for Bitcoin. Assuming the coin’s growth rate significantly contracts in the coming years, growing at just 30% CAGR, Sullivan projects the coin to reach $245,000 by 2029.  A decade later, it will be at $909,000; by 2039, each coin in circulation will be trading at a whopping $3.37 million. If, however, the CAGR rises to 40%, Bitcoin would be worth $10.3 million in 15 years and $1.9 million in 10 years. Related Reading: Market Expert Predicts New Paradigm For Bitcoin: ‘Days Under $100,000 Numbered’ Still, even at these mega valuations, Bitcoin has been soaring at unprecedented rates, outperforming all traditional finance assets since launching. To demonstrate, Bitcoin registered a CAGR of 73.7% over the past four years.  Therefore, if this trend continues, Sullivan says BTC will smash above the $1 million level a year after halving in 2028. However, half a decade later, each coin will change hands at over $16.5 million.  A look back at Bitcoin’s history makes it clear that the coin has been on a tear. Following this historical trend and making projections for the future, BTC could be far more valuable in the next five or ten years. There Are No Guarantees, Crypto Is Dynamic While these projections are undoubtedly exciting for Bitcoin holders, it’s crucial to remember that they are just projections. The crypto market, just like any other tradable asset, doesn’t move in straight lines.  Related Reading: Shiba Inu Whales Move Over 3.19 Trillion SHIB, Where Are They Headed? As an illustration, after peaking at nearly $70,000 in 2021, prices crashed to as low as $15,600 the following year. In 2017, BTC rose to around $20,000 before tanking to below $4,000 a year later in 2018. This volatility and the dynamic market, influenced by new circumstances, don’t guarantee these lofty projections. Nonetheless, analysts remain optimistic of what lies ahead, especially after the historic Halving event on April 20. As traditional finance players join in, finding exposure in BTC through spot exchange-traded funds (ETFs), prices might rise, even breaking above the all-time highs of around $74,000. Feature image from DALLE, chart from TradingView

Russian Deputy Foreign Minister Sergey Ryabkov revealed that the BRICS bloc has been considering the use of stablecoins for its common rail payment systems. In an interview with TV BRICS, Ryabkov stated that the use of stablecoins and a connection linking the CBDCs of the participants were studied as part of the integration processes of […]

Bitcoin price extended its increase and climbed above the $66,000 resistance zone. BTC is now showing positive signs and might find bids near $65,500. Bitcoin gained pace for a move above the $65,500 resistance zone. The price is trading above $65,500 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $65,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct lower, but the bulls might remain active near the $65,500 support. Bitcoin Price Gains Strength Bitcoin price started a fresh increase above the $64,500 and $65,000 resistance levels. BTC bulls even pushed the price above the $66,000 resistance. It traded to a new weekly high at $67,200 and is currently consolidating gains. The price is slowly moving lower toward the 23.6% Fib retracement level of the upward move from the $64,281 swing low to the $67,200 low. Bitcoin price is still trading above $65,500 and the 100 hourly Simple moving average. There is also a key bullish trend line forming with support at $65,700 on the hourly chart of the BTC/USD pair. The trend line is near the 50% Fib retracement level of the upward move from the $64,281 swing low to the $67,200 low. Immediate resistance is near the $67,000 level. The first major resistance could be $67,200. The next resistance now sits at $68,500. If there is a clear move above the $68,500 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $70,000. Source: BTCUSD on TradingView.com The next major resistance is near the $70,500 zone. Any more gains might send Bitcoin toward the $72,000 resistance zone in the near term. Downside Correction In BTC? If Bitcoin fails to rise above the $67,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $66,500 level. The first major support is $65,700 or the trend line. If there is a close below $65,500, the price could start to drop toward $65,000. Any more losses might send the price toward the $64,200 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $66,500, followed by $65,500. Major Resistance Levels – $67,000, $67,200, and $68,500.

Negentropic, the official X (formerly Twitter) account of Glassnode’s cofounders, has offered its own bullish sentiment for the crypto market. Glassnode Cofounders: There Would Be A Massive Growth Beyond Recent Corrections According to their analysis, the market, excluding the top 10 cryptocurrencies, known as “OTHERS,” is showing signs of a strong uptrend with the potential for “more upside” growth. Related Reading: Analyst Reveals Bitcoin’s Bull Market Breakthrough: Here’s What You Need To Know This observation amidst increased volatility and uncertainty following the recent Bitcoin Halving event on April 20 reduced miners’ block subsidy rewards from 6.25 BTC to 3.125 BTC. The cofounders pointed out an intriguing pattern in the market’s behavior, comparing the current conditions to the “strong correction” seen in early 2021, which they identified as “wave 4” in the market cycle. The #Crypto Bull Market Continues. “OTHERS” follows Crypto excl. the largest 10 Cryptos. Observe that we in early 2021 had a strong correction. We believe that was a wave 4. We now have a similar strong decline. More upside is coming. This index and our Fibonacci levels… pic.twitter.com/qKtIOSXneP — 𝗡𝗲𝗴𝗲𝗻𝘁𝗿𝗼𝗽𝗶𝗰 (@Negentropic_) April 22, 2024 Using their index and Fibonacci levels, Glassnode’s cofounders anticipate approximately a 350% increase from the current market levels, noting: More upside is coming. This index and our Fibonacci levels gives us, that we may see ~350% upside from current levels. Notably, this bullish projection underscores their confidence in the potential for further market expansion despite recent downturns. Crypto Market Recovery Amid Bitcoin Criticism And Post-Halving Predictions While the Glassnode Co-founders have predicted significant growth for the crypto market, it’s important to note that the overall market sentiment remains bullish. After a notable decline last week, the global crypto market is showing signs of recovery, with nearly a 3% increase in the past 24 hours. This upward movement can be attributed to major cryptocurrencies like Bitcoin and Ethereum, which have seen gains of 2.7% and 1.7% over the same period. Bitcoin, the flagship cryptocurrency, has recently faced criticism from prominent figures like Peter Schiff, who criticized its high transaction fees and longer processing times. The cost to complete a #Bitcoin transaction is now $128 and it takes a half hour to process. This is another reason why Bitcoin can’t function as a digital currency. The cost to actually use Bitcoin as a currency is prohibitively high for almost all transactions. It’s a failure. — Peter Schiff (@PeterSchiff) April 22, 2024 Due to these challenges, Schiff labeled Bitcoin as a “failure” in terms of digital currency. However, it’s worth noting that Bitcoin’s average transaction fee has significantly decreased to $34.86 on April 21, following a record high of $128.45 the day before. Meanwhile, analyst and founder of the Capriole Investment fund Charles Edwards has shared three possible scenarios for Bitcoin after the Halving. Edwards highlighted the increase in Bitcoin’s electrical cost to $77,400 per new BTC coin produced, while the overall miner price, including block rewards and fees, surged to $244,000. Related Reading: 3 Major Metrics To Watch Out For That Can Impact Ethereum Prices He predicts that Bitcoin’s price may skyrocket, approximately 15% of miners may shut down their operations, or transaction fees will remain elevated. Edwards expects a combination of these scenarios to unfold, ultimately leading to Bitcoin’s price surpassing $100,000. Featured image from Unsplash, Chart from TradingView

Following a sequence of five days of net outflows, U.S. spot bitcoin exchange-traded funds (ETFs) experienced modest inflows on Friday, capturing nearly 900 bitcoins from the market, totaling $59.7 million. Concurrently, Grayscale’s Bitcoin Trust (GBTC) teeters on the brink of falling below the 300,000 mark, as it recorded a holding of 304,970.43 bitcoins as of […]

Data shows the Ethereum Open Interest has been trading at relatively low levels recently. Here’s what this could mean for the asset’s price. Ethereum Open Interest Has Been Moving Sideways Since Its Plunge As explained by an analyst in a CryptoQuant Quicktake post, the ETH Open Interest has followed a similar trajectory as the price of the cryptocurrency recently. The “Open Interest” here refers to the total number of derivative-related contracts open for Ethereum on all exchanges. Related Reading: Dogecoin To $1: Analyst Thinks Dream Milestone Could Be Hit In Coming Weeks When the value of this metric goes up, it means that investors are currently opening up new positions on these platforms. Generally, this kind of trend leads to an increase in the market’s total leverage, so the asset price could become more volatile. On the other hand, a decline in the indicator implies the investors are either closing up their positions of their own volition or getting forcibly liquidated by their platform. Such a drawdown may accompany violent price action, but once the drop is over, the market could become more stable due to the reduced leverage. Now, here is a chart that shows the trend in the Ethereum Open Interest over the last few months: The value of the metric appears to have witnessed a sharp plunge recently | Source: CryptoQuant As displayed in the above graph, the Ethereum Open Interest registered a sharp drop earlier alongside the asset’s price. The plunge in the metric was naturally caused by the long contract holders being washed out in the price drawdown. As the price has mostly consolidated sideways since the decline, so has the value of the Open Interest. The quant notes, This alignment suggests a cooling down of activity within the futures market. Consequently, the market appears poised for the resurgence of either long or short positions, potentially initiating a fresh and decisive market movement in either direction. Another indicator related to the derivative market that could be relevant for Ethereum’s future price action is the funding rate. This metric tracks the periodic fees that derivative contract holders are currently paying each other. Related Reading: Bitcoin Mega Whales Are Buying, Time For Rally To Return? Positive funding rates imply that the long holders are paying the shorts a premium to hold onto their positions; hence, that bullish sentiment is dominant. Similarly, negative values suggest that a bearish sentiment is shared by the majority of the derivative traders. The chart below shows that the Ethereum funding rate has recently turned red. The data for the ETH funding rates over the last few months | Source: CoinGlass Historically, the market has been more likely to move against the opinion of the majority, so the fact that the funding rate has flipped negative may be a good sign for the chances of any potential uptrends to start. ETH Price Ethereum has gradually increased over the last few days, as its price has now reached $3,200. Looks like the value of the coin has gone up a bit over the past few days | Source: ETHUSD on TradingView Featured image from Kanchanara on Unsplash.com, CoinGlass.com, CryptoQuant.com, chart from TradingView.com

U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) has unveiled his plan to put the entire U.S. budget on a blockchain. “Every American can look at every budget item in the entire budget, anytime they want, 24 hours a day,” he explained, adding that if somebody is spending $16,000 for a toilet seat, everybody […]

Reports show that a new Ethereum (ETH) whale has been on a buying spree recently. This whale bought over $405 million worth of ETH since March 31 and is suspected to be Tron founder Justin Sun. Sun is also linked to another address that made massive ETH moves this year. Related Reading: 3 Major Metrics To Watch Out For That Can Impact Ethereum Prices A New Whale On The Horizon, Is It Justin Sun? The blockchain research platform Lookonchain revealed that a whale has gone on an Ethereum buying frenzy over the past few weeks. The newly created account started buying ETH from crypto exchanges on March 31. According to the post, the mysterious wallet first withdrew $96.8 million stablecoins from the crypto exchange Binance. Then, the whale started buying Ethereum from Binance and Decentralized Exchanges (DEX). Did #JustinSun buy 127,388 $ETH($405.19M) since Apr 8? The wallet suspected of being #JustinSun has deposited 787M $USDT to #Binance on #Tron since Mar 31. Also on Mar 31, a mysterious wallet was created on #Ethereum and withdrew $96.8M stablecoins from #Binance.Is this a… pic.twitter.com/OcEovodUrc — Lookonchain (@lookonchain) April 22, 2024 From April 8 to April 20, the address bought 127,388 ETH, worth around $405.19 million, at an average price of $3,172 per token. According to the research platform, the activity from this new address is similar to that of the alleged Justin Sun address. Although the possibility of a coincidence is not ruled out, the activity between the two addressed seems to suggest otherwise. On March 31, the address Sun was suspected of owning made a significant deposit of 787 million USDT to Binance on Tron, which coincided with the withdrawal made by the mysterious new address. As reported by NewsBTC, Justin Sun’s alleged wallet also went on a similar buying spree from February 12 to February 24. At the time, the address acquired 168,396 ETH, worth around $580.5 million, for an average price of $2,894. Lookonchain considers that the similarities hint that these addresses are likely owned by Sun. If so, Justin Sun has bought 295,757 ETH, worth $891 million, in the past two months. Ethereum Price Recovers Amid Whale Accumulation X users expressed concern over Sun’s alleged movements. At the time of the first report, some considered the transaction suspicious. One user affirmed that Sun would be “the reason of the next market crash.” Others believe it was time to question whether Sun would dump his ETH bag. However, the possibility of him accumulating for the approval of spot Ethereum exchange-traded funds (ETF) was brought up. The latest news of Sun’s alleged buying spree received a more positive response. A user considered it a bullish signal for the second-largest cryptocurrency, as the token could benefit from whale accumulation. On Friday, Ether’s price dipped to $2,865, a level not seen since late February. Over the weekend, however, ETH began to recover from its recent fall as the whale buying spree occurred. Since then, the “king of altcoins” regained the $3,100 support level, currently trading at $3,192. The recovery represents a 2% increase from its price 24 hours ago and a 1.5% surge in the weekly timeframe. Moreover, ETH’s daily trading activity has increased by 8.7%, with a daily trading volume of $11.42 billion. Similarly, the second-largest cryptocurrency has seen a 1.78% rise in market capitalization during the last day. Related Reading: Ethereum Price Hints At Potential Fresh Rally, Buy The Dip? Ethereum’s price performance in the 7-day chart. Source: ETHUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com

Cardano suffered a massive price crash over the last two weeks. However, with the market recovery, the ADA price has begun to see some positive headwinds. Analysts expect this recovery to continue, with one crypto analyst in particular, who goes by CobraVanguard, expecting a bullish continuation toward $1. Cardano Completes The ABC Wave The crypto market crash, led by Bitcoin, saw the prices of Cardano and other altcoins plunge into a dreaded ABC wave. This wave is notorious for causing massive dips to the tune of 50%, leaving investors in losses in its wake. Related Reading: Ethereum Enters Accumulation Phase As $500 Million ETH Leave Exchanges The crypto analyst revealed that Wave A had taken place when Cardano had fallen from $0.8 to $0.57, and then Wave B saw the recovery from $0.57 to $0.68. The third and final wave, Wave C, saw the price crash from $0.77 to $0.4 before bouncing upward once again, signaling the completion of the ABC wave. As with all other crashes, there comes a time when the ABC wave is over, and the price of an altcoin can recover, and it seems Cardano has entered this range. The price of the altcoin has since recovered above $0.5, with the bulls now taking control. From here, the analyst expects the recovery to continue and rally with a new wave. “After the fifth bullish wave, Cardano has completed his corrective waves (ABC) and now he has reached the end of the wedge, now it is time to start the five bullish waves,” CobraVanguard said. Source: Tradingview.com ADA Price Targets CobraVanguard outlines a number of reasons why they believe that the Cardano price is going to be bullish. Firstly, they outline an ascending structure of the chart, which suggests a bullish continuation. Next is the bullish wedge that is forming in the chart. Also, high-potential areas are becoming clearer in the chart, as the analyst outlined. Related Reading: Battle For The Halving Block: Bitcoin Users Spend Record $2.4 Million On Block 840,000 In the first wave, the analyst outlines a possible jump to $0.77. From here, they expect that the price will retrace a bit to $0.64 before resuming the uptrend. However, the analyst takes a more conservative stance compared to other analysts about the top, putting it somewhere around $1.09. The analyst further pointed out that in a situation where the wedge were to break down, it could invalidate this, and possibility lead to a decline in price. “Note that if the WEDGE is broken down with the power of descending candles, our analysis will fail,” CobraVanguard concluded. ADA price at $0.5 | Source: ADAUSDT on Tradingview.com Featured image from CoinGape, chart from Tradingview.com

Bitwise Asset Management expects bitcoin to have a great next 12 months. A Bitwise researcher has explained that the cryptocurrency will likely continue to test its “higher highs” this year and next. He considers regulatory risk to be the primary concern for bitcoin. ‘I Think We’re Just Getting Started’ Bitwise Asset Management has reaffirmed its […]

Amidst a decline in traditional democratic structures and financial systems, cryptocurrencies emerge as a revitalizing force, offering a new form of accountability and transparency that could potentially restore public institutions. Cryptocurrency Might Be the Last Hope for a Crumbling Democratic System It’s become clear that democracy is in trouble, especially after the scale of disasters […]

Shiba Inu has constantly managed to trade above $0.000021 last week amidst an ongoing tussle between the bulls and bears. On-chain data has indicated some serious whale movements during this period, with trillions of SHIB shuffled in and out of exchanges.  The price of SHIB went through a decline earlier in the week from an extended selloff in the previous week. As the week progressed, things started to change into bullish action during the weekend up until a resistance just below $0.000028. Interestingly, on-chain transaction data from whales shows the major holders moved trillions of SHIB over the weekend, with 3.19 trillion SHIB movement in the past 24 hours.  Recent on-Chain Data Shows Large SHIB Whale Activity According to IntoTheBlock’s large transaction volume data, the number of Shiba Inu transactions over $100,000 went through a major uptick last week, with the value of transactions greater than $100,000 reaching $661.5 million. On April 19th alone, SHIB transactions in this cohort reached 6.36 trillion SHIB worth $144.76 million. Large transactions in the last 24 hours particularly reached 3.19 trillion SHIB worth $82.49 million.  Related Reading: Were Bitcoin Miners Behind The BTC Price Crash Below $60,000? With so much SHIB on the move, the big question is where are these whales sending their tokens. Interestingly, on-chain data showed large transactions consisting of a to and fro movement into and outside exchanges, indicating mixed feelings from large holders. A notable transaction involved the movement of 100 billion SHIB tokens into a crypto exchange on Sunday. Speculations from investors are that this could be a potential selloff from the whale, suggesting that there is a possibility of a price decline in the short term. What Does This Mean For Shiba Inu Holders? For average SHIB investors, whale activity can be both promising and worrying. While more large holders and transactions may indicate growing mainstream interest and adoption of the token, their moves can also significantly impact price. A positive price movement is enjoyed by Shiba Inu when whales are accumulating from exchanges. However, movement into exchanges suggests a selloff, as in the case of the 100 billion SHIB transaction on Sunday. Related Reading: Ethereum Enters Accumulation Phase As $500 Million ETH Leave Exchanges At the time of writing, SHIB is trading at $0.00002726, a 6.65% increase from 0.00002556 in the past 12 hours. Shiba Inu is also up by 16% on a larger seven-day timeframe and is on the way to displacing Cardano in the market cap rankings.  SHIB’s price action this week should be full of action as the week unfolds, with the bulls now retesting a resistance at $0.000028. According to IntoTheBlock’s “In/Out Of The Money” metric, 6.62 trillion SHIB tokens were bought at this price level, with 28,760 addresses waiting to make a profit. A break over this price level indicates further resistance levels at $0.000029 and $0.000030. SHIB price at $0.000026 | Source: SHIBUSDT on Tradingview.com Featured image from The News Crypto, chart from Tradingview.com

According to the most recent figures, the value of the cryptocurrency market has reached $2.43 trillion after a 2.62% increase in the last 24 hours. Bitcoin and ether have risen by 4% and 3.5%, respectively. NEAR experienced a significant uptick of 33% this past week, while BONK escalated by 32.7%. Digital Currency Market Grows: 17 […]