Dogecoin corrected gains and tested the $0.150 zone against the US Dollar. DOGE is now forming a base and might start a fresh increase above $0.1520. DOGE price jumped toward $0.160 before correcting gains. The price is trading above the $0.150 level and the 100-hourly simple moving average. There is a key bullish trend line forming with support at $0.1485 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price must settle above $0.1540 to move into a positive zone and start a fresh surge. Dogecoin Price Holds Support After a steady increase, Dogecoin price faced resistance near the $0.160 zone. A high was formed at $0.1594 before DOGE started a downside correction like Bitcoin and Ethereum. There was a drop below the $0.1540 support zone. A low was formed at $0.1488 and DOGE is now consolidating for the next move. Dogecoin is still trading above the $0.150 level and the 100-hourly simple moving average. There is also a key bullish trend line forming with support at $0.1485 on the hourly chart of the DOGE/USD pair. On the upside, the price is facing resistance near the $0.1515 level. It is near the 23.6% Fib retracement level of the downward move from the $0.1594 swing high to the $0.1488 low. The next major resistance is near the $0.1540 level or the 50% Fib retracement level of the downward move from the $0.1594 swing high to the $0.1488 low. A close above the $0.1540 resistance might send the price toward the $0.160 resistance. Any more gains might send the price toward the $0.1650 level. The next major stop for the bulls might be $0.1720. More Losses In DOGE? If DOGE’s price fails to gain pace above the $0.1540 level, it could start another decline. Initial support on the downside is near the $0.150 level and the trend line. The next major support is near the $0.1445 level. If there is a downside break below the $0.1445 support, the price could decline further. In the stated case, the price might decline toward the $0.1350 level. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.1500, $0.1445 and $0.1350. Major Resistance Levels – $0.1515, $0.1540, and $0.1600.

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An analyst has explained how the data of an oscillator for Bitcoin could suggest the cryptocurrency still has plenty of room to run in this rally. Bitcoin VWAP Oscillator Could Imply Potential For Further Upside In a new post on X, analyst Willy Woo discussed what the latest trend in the Volume-Weighted Average Price (VWAP) Oscillator for BTC might suggest regarding what could be next for the cryptocurrency. The VWAP is an indicator that calculates the average price for any asset by taking into account the price fluctuations themselves and weighing the values against the trading volume. Related Reading: XRP & Cardano Whales Load Up Bags: Preparation For Altcoin Rally? This means that the prices of the assets where there was a higher volume of trading have a higher weightage in the average than those with only a low amount of volume. Traditionally, the VWAP is a technical analysis indicator that considers the information available through spot exchanges. In the context of the current topic, the VWAP uses the on-chain volume of Bitcoin instead, which is readily viewable by anyone thanks to the blockchain’s transparency. The indicator of interest here isn’t the VWAP but rather the VWAP Oscillator, as mentioned earlier. This metric keeps track of the ratio between the BTC spot price and the VWAP and presents it as an oscillator of around zero. The chart below shows the trend of this Bitcoin indicator over the past couple of years. The above graph shows that the Bitcoin VWAP Oscillator has been in negative territory for the past couple of months. However, the metric’s value has been rising recently, so if it continues on this trajectory, it might approach the neutral mark shortly. In the chart, Woo has highlighted a trend that the indicator and the cryptocurrency’s price have historically shown. It seems that whenever the metric has formed a bottom in negative territory and rebounded back to the upside, the asset has enjoyed some bullish momentum. The resulting price surge may last until the indicator reverses into the positive territory and forms a top. That hasn’t happened for the VWAP Oscillator this time yet. “Still a lot of room to run before reversal or consolidation,” says the analyst. “Hate to be a trapped Bitcoin bear right now.” Related Reading: Bitcoin Not Out Of Danger Yet, NVT Golden Cross Warns In other news, as CryptoQuant author Axel Adler Jr. pointed out in an X post, retail investors have bought $135.7 million worth of the asset over the past month. BTC Price At the time of writing, Bitcoin is floating around $65,000, up 5% over the last week. Featured image from Shutterstock.com, woocharts.com, chart from TradingView.com

XRP price shows positive signs above the $0.5100 resistance. The price could gain bullish momentum if it clears the $0.520 and $0.5220 resistance levels. XRP is eyeing a fresh increase above the $0.520 level. The price is now trading above $0.510 and the 100-hourly Simple Moving Average. There is another short-term declining channel forming with resistance at $0.520 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start another increase if there is a close above the $0.520 resistance. XRP Price Eyes More Upsides After a steady increase, XRP price faced resistance near the $0.520 zone. Recently, there was a minor downside correction like Bitcoin and Ethereum. The price declined below the $0.5180 level. There was a move below the 23.6% Fib retracement level of the upward wave from the $0.4980 swing low to the $0.5225 high. However, the bulls are active near the $0.5140 zone. The price is still trading above $0.510 and the 100-hourly Simple Moving Average. Immediate resistance is near the $0.5195 level. The first key resistance is near $0.520. There is also a short-term declining channel forming with resistance at $0.520 on the hourly chart of the XRP/USD pair. A close above the $0.520 resistance zone could send the price higher. The next key resistance is near $0.5220. If the bulls push the price above the $0.5220 resistance level, there could be a fresh move toward the $0.5350 resistance. Any more gains might send the price toward the $0.550 resistance. More Losses? If XRP fails to clear the $0.520 resistance zone, it could slowly move down. Initial support on the downside is near the $0.5150 level. The next major support is at $0.5120. The main support is now near $0.510 and the 50% Fib retracement level of the upward wave from the $0.4980 swing low to the $0.5225 high. If there is a downside break and a close below the $0.510 level, the price might accelerate lower. In the stated case, the price could drop and test the $0.4980 support in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.5120 and $0.5100. Major Resistance Levels – $0.5200 and $0.5220.

As Bitcoin navigates through significant price changes, varying analyses from crypto analysts have painted a diverse picture of its short-term trajectory. A prominent crypto analyst, Ali, identified a sell signal on Bitcoin’s short-term charts using the TD Sequential indicator. Related Reading: Is The Crypto Winter Thawing? US Bitcoin ETFs Record First Inflows In Weeks – Coinshares According to Ali’s analysis, the TD Sequential indicator suggested that Bitcoin’s current uptrend might be losing momentum. This could potentially lead to a correction over the next one to four candlesticks, particularly noticeable on the four-hour chart. The TD Sequential presents a sell signal on the #Bitcoin 4-hour chart, anticipating a one to four candlesticks correction for $BTC. pic.twitter.com/OC9Clv0Tat — Ali (@ali_charts) May 16, 2024 Diverging Bitcoin Views From Top Crypto Analysts Contrasting this perspective, another prominent analyst, Rekt Capital, recently provided a more optimistic view. According to Rekt Capital, Bitcoin ended its downtrend in mid-April, breaking into an uptrend with its price surpassing previous resistance levels. This change has been marked by Bitcoin forming its first higher high since its drop to $56,000, as highlighted by Rekt Capital. This indicates a possible continuation of the bull market despite periodic market attempts to unsettle investors. The TD Sequential indicator’s sell signal comes as Bitcoin has shown a 7.6% increase over the past seven days, reaching a 24-hour high of $66,567 before retracing slightly to $65,592. Rekt Capital noted the significance of the $60,000 support level, suggesting that maintaining this level is crucial for further positive momentum. He remarked that the recent breakout to $66,000 is a testament to how quickly market sentiment can shift toward a bullish trend. The analyst disclosed: The Bitcoin Bull Market is not over. But time and time again, the market will try to shake you out of your positions before you are able to profit significantly from them. Insights From Galaxy CEO On BTC’s Future Trends Meanwhile, Mike Novogratz of Galaxy Digital commented on the broader market trends, noting that the crypto sector is at a critical juncture where narratives are evolving, and the market landscape could change rapidly, especially with impending regulatory developments in the US. Related Reading: Bitcoin Could Crash Below $55,000, Top Analyst Sounds The Alarm Mike Novogratz further expanded on the macro view, suggesting that the next few months could be pivotal for the crypto market as it responds to new narratives and regulatory developments. It’s been a fascinating week in crypto. Narratives are forming and odds are shifting. It’ll be interesting to watch the next few months play out, and even more interesting to watch the jump shift that’ll occur as soon as there’s regulatory clarity around crypto in the U.S.… pic.twitter.com/t0g5rTIKjP — Mike Novogratz (@novogratz) May 16, 2024 He also recently predicted that Bitcoin’s price will oscillate between $55,000 and $75,000 for some time, indicating a phase of consolidation before any major moves. Featured image from Unsplash, Chart from TradingView

TBD, a subsidiary of Block, owned by Jack Dorsey, has formed a partnership with Chipper Cash, an Africa-focused fintech company. This partnership aims to expedite consumer remittances and make them more affordable. According to a statement, Chipper Cash plans to use the decentralized exchange protocol of TBD. This will enable trusted transactions that comply with […]

Ethereum price tested the $3,040 zone and corrected gains. ETH is now testing the $2,925 support and might aim for a fresh increase. Ethereum started a downside correction after the bears defended $3,040. The price is trading below $2,960 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2,965 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase unless there is a close below the $2,925 support. Ethereum Price Dips Again Ethereum price started a fresh increase above the $2,950 and $2,960 levels, like Bitcoin. ETH even cleared the $3,000 level before the bears appeared near $3,040. A new weekly high was formed at $3,039 and the price recently started a downside correction. There was a move below the $3,000 level. Ether dipped below the 50% Fib retracement level of the upward move from the $2,860 swing low to the $3,039 high. Ethereum is now trading below $2,960 and the 100-hourly Simple Moving Average. However, the bulls are active near the $2,925 support and the 61.8% Fib retracement level of the upward move from the $2,860 swing low to the $3,039 high. Immediate resistance is near the $2,960 level. There is also a connecting bearish trend line forming with resistance at $2,965 on the hourly chart of ETH/USD. The first major resistance is near the $3,000 level. An upside break above the $3,000 resistance might send the price higher. The next key resistance sits at $3,050, above which the price might gain traction and rise toward the $3,150 level. If there is a clear move above the $3,150 level, the price might rise and test the $3,220 resistance. Any more gains could send Ether toward the $3,350 resistance zone. More Losses In ETH? If Ethereum fails to clear the $2,965 resistance and the trend line, it could continue to move down. Initial support on the downside is near the $2,925 level. The next major support is near the $2,900 zone. A clear move below the $2,900 support might push the price toward $2,850. Any more losses might send the price toward the $2,740 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $2,925 Major Resistance Level – $2,965

Altcoins have “tactical opportunities” but not the massive gains seen in previous cycles, says 10xResearch head of research Markus Thielen.

Draper Associates, the VC firm led by the legendary investor Tim Draper, has led the $3.5 million seed round of Zest Protocol, a Stacks-based Bitcoin lending market. The round, which also had the participation of Binance Labs, Flow Traders, Trust Machines, and others, seeks to allow bitcoin holders to put their capital to use using […]

The pilot program tested a method of bringing traditional finance fund data onto blockchains with big banks JPMorgan and BNY Mellon also involved.

Juno Finance acknowledges the disruption in banking services and is collaborating with its brokerage and banking service providers, Synapse and Evolve Bank & Trust, to restore full service as soon as possible. Juno is a financial platform that integrates checking and savings accounts with cryptocurrency trading. “Currently, Evolve Bank & Trust has frozen all card […]

Pump.fun said its smart contracts are safe and impacted users will receive “100% of the liquidity” that it previously had within the next 24 hours.

On-chain data shows that XRP and Cardano whales have been accumulating recently, which can be bullish for the prices of these altcoins. XRP & Cardano Whales Have Gone On A Buying Spree Recently As analyst Ali explained in a new post on X, XRP whales have seen their holdings go up over the last couple of weeks. The indicator of relevance here is the “Supply Distribution” from the on-chain analytics firm Santiment, which tells us about the total amount of assets the different market groups hold. Related Reading: Bitcoin Not Out Of Danger Yet, NVT Golden Cross Warns The whale cohort is of interest in the current discussion. These investors hold between 1 million and 10 million XRP in their balance. At the current exchange rate, these amounts are worth around $0.52 million and $5.2 million, respectively. Clearly, these are pretty significant holdings, which is why whales are considered influential in the market. Now, here is a chart that shows how the Supply Distribution of the entities belonging to this XRP group has looked like recently: The graph shows that while the XRP price has been stuck in consolidation during the last couple of weeks, the whales have been viewing the opportunity as a buying one. These humongous investors have scooped up over 110 million cryptocurrency tokens (equivalent to almost $57 million) inside this window. This buying scale isn’t particularly massive, but the fact that these investors have been backing the coin through this poor period should be an optimistic sign. It would also appear that XRP isn’t the only one on the large holders’ radar recently. Market intelligence platform IntoTheBlock revealed in an X post that Cardano has also seen a significant buying push. In the above chart, IntoTheBlock displays the holdings of the Cardano investors, which are between 100 million and 1 billion ADA. This range’s bounds convert to about $45.3 million and $453 million, respectively, so these whales would be much more massive than the XRP ones just discussed. As is apparent from the graph, these ADA entities have expanded their holdings over the past month. More particularly, their supply has grown by 11% in this period, which, when considering the scale of the total holdings of this group, is an enormous increase. According to the analytics firm, these Cardano whales now control 6.71% of the entire circulating supply of the cryptocurrency all by themselves. Related Reading: Bitcoin Hash Ribbons Form Capitulation Signal: What It Means This latest buying push towards XRP and ADA from the whales simultaneously could be a potential sign that these large entities are expecting an altcoin rally soon. Given that Cardano has seen it happen at a much more significant scale, the coin could likely see better returns than XRP if a surge does happen. XRP Price XRP has displayed stale price action recently, as its price has continued to move sideways around the $0.52 level. Featured image from Kanchanara on Unsplash.com, IntoTheBlock.com, chart from TradingView.com

Two U.S. senators have criticized the Department of Justice (DOJ)’s new interpretation of “money transmission,” which extends requirements to non-custodial software, citing concerns over its impact on crypto networks and financial innovation. “I’m concerned the DOJ’s interpretation would treat software developers as criminals for merely writing and publishing code used by others,” one of the […]

Bybit to compensate users after Notcoin listing debacle, China gaming firm’s profits up 1100% after $200M crypto buy, and more: Asia Express.