DEV Community: Victor Del Pino

Blockhead Analytics: Polkadot: Can DOT Extend Bullish Rebound to $8?

Victor Del Pino — Wed, 31 Jan 2024 14:55:09 +0000

Polkadot (DOT) continued its bullish resurgence from the $6 price zone by flipping the $6.6 resistance level to support over the past 24 hours. This brought the total gains so far for buyers from the $5.8 support level to 15%.

However, a look at DOT’s price action revealed room for more bullish gains with buyers looking to claim another resistance level ($7.7) and take the bullish rebound to the $8 price zone.

Buyers look to reverse bearish momentum

The Relative Strength Index (RSI) highlighted the shift in momentum from bearish to bullish with buyers ramping up the buying pressure to move above the neutral 50 mark. This sustained the upward trajectory of the RSI along with the price action.

Similarly, DOT registered increased capital inflows with the Chaikin Money Flow (CMF) posting a bullish reading of +0.07. It is important to note that the CMF has remained positive over the past five days, further adding to the bullish narrative.

Based on DOT’s price action and on-chart indicators, traders can expect another strong push towards $8. This offers a 15% reward opportunity from the current market price.

With the general crypto market gradually regaining its bullish momentum, DOT could leverage the bullish sentiment to push on for increased gains.

On the flip side, an ability of buyers to break above $7.5 could keep DOT stuck between the $7 and $8 price range. This could play out if the price is rejected at the $7.5 price level.

Despite this, bulls are poised to sustain the momentum and continue to push buyers to register bullish gain.

CoinGape Analytics: Shiba Inu (SHIB) Price Eyes $0.000011 As Per Technical Chart Setup

Victor Del Pino — Wed, 31 Jan 2024 14:55:00 +0000

ullish Momentum for Shiba Inu (SHIB)

Renowned crypto analyst Ali Martinez suggests that the TD Sequential indicator, known for its accuracy in forecasting Shiba Inu’s price dynamics, is currently signaling a buy. This indication implies a potential upswing for the Shiba Inu (SHIB) cryptocurrency.

Investors are advised to closely monitor the market conditions, as Martinez speculates that Shiba Inu may experience an ascent, reaching levels as high as $0.010 or potentially even surging to $0.011. Traders and enthusiasts in the crypto space are keenly watching these developments for potential opportunities in the $SHIB market. Note that the price mentioned above is for 1000SHIB coins.

Furthermore, according to market analyst SHIB KNIGHT, an insider in the Shiba Inu community, the token is currently breaking its downtrend on the 2H chart. By presenting a SHIB/USDT chart, SHIB KNIGHT highlighted the reversal in the token’s trend following a prolonged period of decline. Additionally, KNIGHT’s analysis suggests that SHIB may be poised for a sudden and substantial price surge.

Shiba Inu’s marketing lead Lucie has outlined ambitious plans for the Shibarium ecosystem, aligning with its goal of achieving widespread adoption. In a recent poston X (formerly Twitter), Lucie shared that Shibarium aims to integrate 1,000 new projects into its ecosystem.

This strategic initiative underscores Shibarium’s dedication to enhancing its ecosystem and fostering a sustainable and robust community. The incorporation of new projects shall facilitate further growth and advancement for the Shibarium network, addressing specific needs and challenges within different communities.

CoinGape Analytics: Chainlink (LINK) Price Surges 6.5% Eyeing A Potential Rally to $25-$30

Victor Del Pino — Wed, 31 Jan 2024 14:54:52 +0000

In a recent analysis, crypto market analyst Michael van de Poppe provides insights into the potential trajectory of Chainlink ($LINK), indicating a likelihood of a bullish breakout.

Key factors supporting this prediction include:

Liquidity Absorption: Chainlink has absorbed liquidity through a dip to the $12.20 level.
Resistance Testing: The cryptocurrency has undergone multiple tests of resistance, suggesting potential upward movement.
BTC and ETH Dynamics: The Bitcoin ($BTC) pair for Chainlink is showing signs of bottoming, while Ethereum ($ETH) is displaying increased activity.

Van de Poppe suggests that considering these factors, Chainlink could experience a positive breakout in the near future, with a projected price range of $25 to $30 in the coming months. Traders and investors are advised to monitor these developments for potential opportunities in the $LINK market.

What’s Next for LINK?

The price of Chainlink (LINK) has exhibited a consistent upward trend, signaling increasing bullish momentum. Encouragingly, the Cross EMA 50/200 day indicates a high likelihood of a Golden Cross, pointing towards significant price action in the upcoming days.

The Moving Average Convergence Divergence (MACD) presents a continuous green histogram, indicating a prevailing bullish sentiment in the cryptocurrency market. Additionally, the moving averages depict a sustained upward trajectory, suggesting a continued rise in the LINK price in the days ahead.

In the event that the bulls successfully drive the price beyond the resistance level of $15.411, it would pave the way for Chainlink to test its upper resistance level at $16.477. Moreover, maintaining stability at this level could potentially position the LINK token to challenge its resistance level of $17.677 in the foreseeable future.

Crypto Basic Analytics: XRP Breaks Multiple Supports in Massive Crash to $0.51, What Lies Ahead?

Victor Del Pino — Wed, 31 Jan 2024 12:58:14 +0000

Meanwhile, the bears had other plans, exerting enough pressure to break below the Fibonacci 0.236 level at $0.5261. Following a collapse to $0.5229, XRP mounted a defense, which led to another round of range-bound movements.

The historical significance of the $0.51 price zone has proven to be a robust protective barrier for XRP, effectively thwarting bearish pressures during past market downturns.

In a previous analysis on Jan. 23, notable chartist ElmoX projected an incoming dump in XRP’s price. Nonetheless, he stressed that the token needs to hold above $0.40 during this slump, as giving up this level would result in a more substantial collapse to the $0.25 price territory.

Despite the expectation of a massive correction, ElmoX maintained its bullish projection for XRP, arguing that the crypto asset would rally to new all-time highs at $5 or $7. However, he asserted that these price levels would not materialize until the next year or two.

ElmoX charged investors to take advantage of further drops as an opportunity to augment their XRP bags. Several industry commentators share this sentiment, citing the prevailing bearish sentiment surrounding XRP amid the recent collapse.

Bobby A, a market analyst, called attention to this bearish sentiment in a post on X today. He emphasized that a lesson he has learned in the crypto scene is to “go hard in the paint” on any asset that everyone seems to be bearish or frustrated with.

In addition, Tom Crown, crypto influencer and founder of Crown Analysis, disclosed that he would be procuring some XRP tokens for the first time since 2017. According to Crown, this newfound attraction has been triggered by several bearish posts around XRP amid the drop.

Meanwhile, XRP currently trades for $0.5110, with a 4.68% drop over the past 24 hours and a 16% slump this month.

CoinGape Analytics: Bitcoin Price

Victor Del Pino — Wed, 31 Jan 2024 12:58:06 +0000

In a recent analysis, crypto analyst Ali Martinez highlights a historical pattern observed during past bull markets, indicating a potential strong rebound for Bitcoin ($BTC). A similar pattern has emerged in the current market as the BTC price bounces back from the mean MVRV level at $40,500.

Martinez also suggests that, based on this observed pattern, there is potential for BTC to experience a surge toward the 1.0 standard deviation line, reaching an estimated price of $60,000. Traders and investors shall closely monitor these developments closely for potential opportunities in the Bitcoin market.

Market analysts expect the Bitcoin price rally to continue going ahead as we approach the fourth Bitcoin halving ahead in April 2024. Furthermore, a strong supply of Tether (USDT) stablecoin on the exchange suggests growing buying power among investors that can boost the BTC price going ahead.

Macroeconomist and crypto analyst Henrik Zeberg expressed his anticipation for the upcoming “greatest crypto rally ever” in a tweet, predicting a surge in bullish sentiment and a return of euphoria and excitement reminiscent of previous market highs. In a conversation with WTFinance, Zeberg further elaborated on this outlook, stating that the recent developments observed in the cryptocurrency market are expected to persist throughout 2024. He added:

💭 “The stock market and the crypto markets should keep moving up higher. Bitcoin should reach $100,000 to $150,000. We should also see the S&P 500 reach 6,100 which has been my target since a year and a half ago,” Zeberg said. “All these things are still playing out. So to me, there are no changes, this is the blow-off top.”

It will be interesting to see whether the Bitcoin price moves straight up from here or faces a pullback before rallying to the north.

CryptoBriefing Analytics: SUI hits new monthly high, TVL surges 98% in one month

Victor Del Pino — Tue, 30 Jan 2024 16:24:28 +0000

Sui’s token price has broken a new monthly high, reaching $1.65 earlier today, according to data from CoinGecko. At press time, SUI is trading around $1.6, up 15% in the past 24 hours. The total value locked (TVL) on Sui surged 98% month-to-date, increasing from around $208 million to $436 million, according to data from DeFiLlama.

With this surge, Sui has surpassed Coinbase’s Base and Cardano in TVL, with Base experiencing a 9.5% downturn to around $397 million, and Cardano witnessing a nearly 15% decline to $340 million over the last month. This surge is attributed to the growth of the Sui ecosystem, fueled by recent strategic partnerships with prominent entities like Alibaba Cloud and Solend.

Mysten Labs, the team behind Sui, recently announced its partnership with Alibaba Cloud to provide more resources for developers using the Move programming language. Additionally, Solend, a lending and borrowing platform on Solana,announced last month its expansion onto the Sui network.

In addition to these collaborations, the Sui Foundation motivates projects to participate in the Sui ecosystem with infrastructure-friendly tokenomics that use SUI tokens to incentivize projects and users within the Sui network.

Sui’s market cap reached approximately $1.5 billion, up over 80% in the past month, according to Token Terminal’s statistics.

CoinPedia Analytics: Dogecoin To Moon in 2024, Mark Cuban Confirms Dallas Mavericks To Accept DOGE Payments

Victor Del Pino — Tue, 30 Jan 2024 16:24:20 +0000

American businessman Mark Cuban has recently confirmed the ongoing Dogecoin acceptance by the Dallas Mavericks team. Elon Musk’s X payments launch adds momentum, fueling speculation on Dogecoin’s extended role.

The Dallas Mavericks are renowned for their active approach to cryptocurrency. The team accepted Bitcoin as a payment method in 2019 and later switched to Dogecoin in March 2021. The NBA team Dallas Mavericks, owned by Mark Cuban, remains at the forefront of crypto integration in the sports world.

Cuban confirms the ongoing acceptance of Dogecoin as a payment method, highlighting the team’s commitment to diverse crypto options.

DOGE outpaces Bitcoin in India’s 26-35 age group, revealing widening market appeal. Despite current DOGE price dynamics, optimism surrounds its potential for payments on X, elevating expectations for a price rally.

In a report from the previous week, on-chain metrics and social dominance supported a positive outlook for DOGE. In a broader context, Elon Musk’s X platform’s dedicated payments handle – ‘@xpayments’, triggers anticipation within the DOGE community.

Volume and social dominance indicators suggested a potential price recovery with increased activity and relevance. The possibility of DOGE being accepted on the platform increases speculation around the meme coin’s utility and mainstream adoption. Despite a slight decline in price the previous week, falling to $0.086, DOGE’s overall archetype remains strong.

As of January 21, the Dogecoin volume increased from 298.68 million to 1.17 billion.

Dogecoin, although not having reached $1.00 yet in January 2024, the acceptance and market presence keeps growing. Dogecoin’s acceptance by the Dallas Mavericks and its potential use on Elon Musk’s X platform as a mode of payment represents crucial steps toward mainstream adoption.

According to NullTX Analytics:ARBITRUM, $ARB DOMINATES L2 TRANSACTION VOLUME WITH IMPRESSIVE METRICS

Victor Del Pino — Tue, 30 Jan 2024 16:24:11 +0000

The recent weekly recap data from Arbitrum highlights its significant presence in the market, boasting a Total Value Locked (TVL) of 4.2 billion dollars, an average daily transaction volume of 900,000, and a cumulative address count of 16.9 million.

One standout project on Arbitrum during the week was $GMX, leading both in TVL and Revenue with impressive figures of $818.1 million and $1.6 million, respectively.

Spotonchain’s on-chain reports shed light on recent activities involving the Arbitrum Foundation multisign 0xd6c, which deposited 15 million $ARB ($27.5 million) to Coinbase at $1.83.

Shortly thereafter, six new wallets withdrew a total of 14.9 million $ARB from the centralized exchange.

Speculation suggests that the Arbitrum Foundation’s deposit might have been intended for Over-The-Counter (OTC) transactions. Despite these movements, Arbitrum’s native token, $ARB, currently trades at $1.9, reflecting a 4% gain in the past 24 hours.

The robust performance and activity on Arbitrum underscore its growing importance and adoption within the broader blockchain ecosystem.

As Layer 2 solutions continue to play a pivotal role in addressing scalability challenges and enhancing blockchain functionality, Arbitrum’s prominence in facilitating efficient and secure transactions remains evident.

CryptoPotato Analytics: Pre-Halving Dip Completed? Bitcoin’s Price Tested $44K

Victor Del Pino — Tue, 30 Jan 2024 12:42:21 +0000

On Jan. 30, crypto analyst “Rekt Capital” said that the pre-halving period where pullbacks tend to occur is ending in two weeks.

The halving is less than three months away now, and it is predicted to occur around April 22.

A similar pre-halving retrace occurred in early 2020 when BTC was trading at around $9,500. Additionally, that year had the pandemic-induced black swan event in March, which is unlikely to play out in this cycle (unless something cataclysmic occurs in the next couple of months).

Analysts had predicted a correction to between $34,000 and $36,000 as the ETF hype dwindled, but the asset only remained sub-$40K for a few days last week.

The analyst also posted five phases of the Bitcoin halving. These included a pre-halving period of 126 days followed by a 63-day pre-halving rally, then a 77-day pre-halving retrace where we currently are.

A 147-day accumulation period comes around, or after the halving, then there is a parabolic uptrend that can last a year.

There have been many price predictions post-halving, with one of the more recent ones from SkyBridge Capital founder Anthony Scaramucci, who said that BTC will reach $170,000.

Meanwhile, Dragonfly managing partner ‘Haseeb’ observed that retail has yet to enter the fray. He based this assumption on Coinbase app popularity which is way down compared to previous cycle highs.

Bitcoin prices are up 3% on the day at $43,422 at the time of writing. The asset hit an intraday high of $43,730 during the Tuesday morning Asian trading session.

Moreover, Bitcoin has made 9% since its post-ETF launch dip below $39K, and it is now eyeing resistance just over $44,000.

Crypto.News Analytics: Analyst bullish on Polkadot; Pullix and Maker leading altcoin season

Victor Del Pino — Tue, 30 Jan 2024 12:42:12 +0000

Crypto analyst Michaël Van De Poppe is bullish on Polkadot (DOT). Meanwhile, Pullix (PLX) and Maker (MKR) are some of the emerging altcoins that are gaining traction. Some analysts predict that PLX, which is now in stage 7 of 8 of its presale, will rally in 2024.

Michaël Van De Poppe believes DOT is bullish as prices retest crucial support at around $5.50.

The analyst banks on Polkadot 2.0 to trigger a move up to $17 in the days ahead.

Over the past week, the Polkadot price has fluctuated between $7.17 and $6.43. Its market cap also fell from $9.10 to $8.18 billion during this period.

As it trades over its 50- and 100-day EMAs, experts predict this altcoin may surge to $7 in Q1 2024.

Pullix is looking to disrupt defi

According to a report by ISDA, the OTC derivatives market was valued at $618 trillion by the end of 2022.

Pullix is looking to enter this market by creating a unique hybrid trading platform that enables trading of all asset classes (including OTC derivatives, gold, and cryptocurrencies) using a single account.

It will merge features of centralized and decentralized exchanges, allowing for asset custody-free trading with 0% commissions on trades.

In stage 7 of the ongoing presale, over 80 million PLX have been sold. Accordingly, the project has raised over $4.5 million.

Presently, PLX is available for $0.10.

The “trade-to-earn” revenue-sharing model sets PLX apart.

PLX stakers will receive a percentage of Pullix’s daily revenue.

CoinGape Analytics:Crypto Price Prediction For January 29: XRP, DOT, SUI

Victor Del Pino — Mon, 29 Jan 2024 16:03:22 +0000

1️⃣ Amidst the broader market uncertainties, particularly the challenges surrounding the Bitcoin ETF, XRP has seen a notable downward trend.

It has fallen from a high of $0.7 to its current value of $0.526, marking a significant 24.7% drop over the last two months.

However, this downward trajectory found a solid footing at a crucial juncture – the combined support level of $0.5 and a longstanding support trendline. This trendline, active since early 2023, has been instrumental in stabilizing XRP during major market dips, instilling a bullish outlook among investors.

2️⃣ Failed Breakdown Bolsters Polkadot (DOT) Price Rally to $9.5.

In the past month, Polkadot (DOT) Pricewitnessed a sharp 37.6% decline in its price, falling from $9.6 to $6. This downturn led to the formation of a bearish head and shoulders pattern.

On January 22nd, DOT’s price broke below the pattern’s support trendline, intensifying bearish sentiments. However, the recent market recovery has allowed DOT to stay above the critical $6 level and climb back above the neckline support, now trading at $6.85.

This resilience suggests a potential ‘fake breakdown‘, which could stimulate increased buying activity. If this buying momentum is sustained, DOT could target higher levels, aiming for $8.56 initially and potentially revisiting its previous high of $9.6.

3️⃣ Is SUI Price Ready to Hit $1.7?

Defying a broader market downturn, the SUItoken exhibited a remarkable bullish surge last week, jumping from $1.013 to $1.44, an impressive 42% increase. This upward trend has been buoyed by strong buying pressure, positioning SUI on the brink of a potential bullish breakout from its previous swing high resistance near $1.5.

Should SUI successfully breach and hold above the $1.5 threshold, it would not only confirm a sustainable recovery but also empower buyers to pursue a higher target of around $1.7.

U.Today Analytics:Solana (SOL) Might Make Epic Comeback If This Pattern Validates

Victor Del Pino — Mon, 29 Jan 2024 16:03:13 +0000

Solana (SOL) might be ready for an epic rally if a certain chart pattern validates. The pattern is a descending parallel channel drawn by connecting the lower highs and lower lows of the price, with parallel trendlines to indicate a downward trend.

A breakout, which occurs when the price breaks the upper or lower borders of the channel, is a stronger indication. When this happens, the price might move quickly and sharply in the direction of that breakout. Crypto analyst Ali calls attention to a descending parallel channel on Solana's four-hour chart, demonstrating its price declines in the very short term. According to Ali, Solana appears to be breaking out of this descending parallel channel. He further adds that if SOL can hold above $94, it has a great chance of advancing toward $113.

Two scenarios are likely in the case of a descending channel: if the move is in the direction of the previous trend, the descending channel would have been a continuation pattern. If the move goes against the prior trend, the descending channel might be a prelude to a reversal. In the big picture, SOL remains in an uptrend. Recently, SOL has been steadily rising since reaching $78.87 on Jan. 23 and is poised to post its fourth consecutive day of advances on Jan. 26.

If a bullish scenario plays out and SOL exceeds $113, as projected by Ali, it may approach the next resistance level at $126.11, which corresponds to the previous highs in December 2023. A break above this level might spark a fresh upswing and lead to a rise above $200, not seen since January 2022. SOL is now down 0.37% in the last 24 hours to $97.61.

On the other hand, if SOL prices fall, the next support level to watch is $78, which has recently served as a solid demand zone. A breach below $78 would confirm a negative trend and take the price to $67.