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Kelp DAO Revives After $292M DeFi Exploit

By | Edited By Sahana Kiran,,

The recovery effort around Kelp DAO is moving faster than many expected. Almost one month after the major $292 million theft, Kelp DAO and Aave announce that their rsETH operations will resume normal functions.

Kelp DAO confirmed that the 117,132 rsETH stolen during the April 18 attack will be progressively restored over the next two weeks. The funds will move from the Aave Recovery Guardian and the Kelp Recovery Safe into the LayerZero OFT adapter on the Ethereum mainnet.

Source: X

The protocol also said withdrawals could reopen within 24 hours after the first tranche is completed. The system will resume its operations for deposits and redemptions, bridging, and claims after the smart contracts reach full unpaused status.

Also Read: Arbitrum Moves Toward $71M ETH Unlock Following Kelp DAO Attack

Kelp DAO Strengthens Security After Exploit

After the exploit laid bare the vulnerabilities in cross-chain verification, the overarching security architecture of Kelp DAO is now undergoing modifications.

The protocol said all LayerZero bridge configurations have been upgraded. The new system needs four different attestors to complete verification instead of using a single validator. The system raised block confirmation requirements from 42 to 64 while it eliminated all L2-to-L2 routes.

The KelpDAO is also making the move into the Chainlink CCIP infrastructure, a step aimed at reducing reliance on older bridge mechanisms.

Aave declared that they had burned all exploiter rsETH tokens that were present on Arbitrum during the initial recovery operation. The protocol announced that they would start refilling their LayerZero OFT adapter while resuming rsETH operations throughout the next several days.

Kelp DAO Recovery Faces Legal and Industry Challenges

The attack in April was the most severe DeFi hack of 2026. Most believe that it was done by someone belonging to the Lazarus Group.

The attacker used rsETH, which he had stolen as collateral, to borrow funds on Aave, which resulted in the creation of $190 million in bad debt. The industry-led restitution program DeFi United emerged as a response to the situation, which collected over $300 million in ETH to prevent damage throughout decentralized finance.

The Arbitrum Security Council suspended $72 million, which was associated with the security breach. The legal battles that followed the plaintiffs from previous North Korean terrorism cases wanted to claim the assets, which caused delays in transferring those funds.

Despite the legal problems, a federal court allowed the transfer of ETH for Arbitrum-Aave, even though the funds still cannot be sold or moved without further approval.

LayerZero publicly accepted responsibility for its dangerous 1-of-1 DVN configuration, which enabled risky operations. The company admitted the setup created major security vulnerabilities for high-value transactions.

Also Read: Arbitrum Freezes $71M ETH After Kelp DAO Bridge Hack

Vietnam Crypto Moves Toward Official Regulated Crypto Asset Market Launch Q3

By | Edited By Sahana Kiran,,

Vietnam plans to launch its regulated cryptocurrency market in 2026 as authorities move to strengthen oversight and transparency in digital asset trading. The Vietnam crypto market is advancing through new licensing rules, exchange approvals, and tax proposals while the country remains one of the world’s most active crypto hubs.

Vietnam Crypto Market Nears Launch

Vietnam is preparing to launch its regulated cryptocurrency market in the third quarter of 2026 as authorities respond to rising demand for digital assets.

The planned Vietnam crypto framework was announced by Deputy Minister of Finance Nguyen Duc Chi during the Digital Trust in Finance 2026 forum.

Officials expect the first activities of the Vietnam crypto market to begin under rules focused on transparency and investor protection. The move marks another important step in bringing one of Asia’s busiest digital asset sectors under formal supervision.

Earlier this year, regulators introduced a licensing pathway for domestic cryptocurrency trading platforms. Authorities are now accelerating efforts to strengthen oversight while supporting the country’s broader digital economy strategy.

Vietnam aims for the digital economy to contribute at least 30% of gross domestic product by 2030. The government also targets 80% cashless transactions and greater innovation across local businesses.

Also Read: Solv Protocol Migrates $700M BTC Assets to Chainlink CCIP

Vietnam Crypto Exchanges Move Forward

Vietnam has increased preparations for its regulated digital asset sector over recent months. In March, five Vietnamese companies reportedly passed the first qualification stage to launch the country’s first regulated cryptocurrency exchange.

The firms included affiliates connected to private banks Techcombank, VPBank, and LPBank. Stockbroker VIX Securities and conglomerate Sun Group also entered the approval race.

In February, authorities drafted a tax regime for transactions involving cryptocurrencies. This draft proposed a tax of 0.1% on every personal cryptocurrency transaction made via registered brokers.

Authorities desire to have Vietnam’s crypto economy operate based on a regulatory regime similar to that applied in traditional stock exchanges, but directing crypto transactions to domestic exchanges.

Vietnam Remains Leading Crypto Hub

Vietnam continues to be a major force in the international cryptocurrency market. According to the Chainalysis Global Crypto Adoption Index 2025, Vietnam ranks fourth, after India, the US, and Pakistan.

The Vietnam crypto market held its ground as the third-biggest in Asia by on-chain transaction volume, racking up an impressive total of around $200 billion over the period from January through June 2025.

Amidst the rise in market performance, however, many traders found themselves using overseas exchanges like Binance, OKX, and Bybit.

In order to facilitate community participation, Vietnam started a crypto pilot that would span five years from September 2025.

This is because there would be an obligation on behalf of all players to ensure that the transactions went through the Vietnamese dong using locally registered organizations.

Also Read: Coinbase Loans Surpass $2.3 Billion After Solana Integration Launch

JPMorgan Files for JLTXX Tokenized Money Market Fund on Ethereum

By | Edited By Sahana Kiran,,

JPMorgan filed for a new tokenized money market fund to support stablecoin reserve management under the proposed GENIUS Act framework. The move expands the bank’s blockchain finance work and links stablecoin liquidity with tokenized U.S. Treasury products on Ethereum.

The bank’s asset management arm submitted paperwork for the JPMorgan OnChain Liquidity-Token Money Market Fund. The product would trade under the ticker JLTXX if the filing process moves forward.

Also Read: Bitmine Holds 5.2M Ethereum Worth $12.08B in May 2026

JPMorgan Details Ethereum-Based JLTXX Fund Structure

According to the filing, the tokenized money market fund will sell digital tokens on Ethereum. These tokens will entitle ownership of a U.S. Treasury and repurchase agreement-backed portfolio.

The filing states that the actual assets will continue to be held by a regular custodian. This setup has the fund ownership represented at the blockchain level while keeping assets within an existing custody model.

Source: SEC

However, JPMorgan said that investors may keep tokens in digital wallets. They could also transfer them amongst approved participants or lend them in associated crypto marketplaces.

The bank also referenced quicker settlement as another benefit. Instead of the one- to two-day process for traditional funds.

The new tokenized money market fund comes after JPMorgan created a similar blockchain-linked product, My OnChain Net Yield Fund. MONY, which debuted on Ethereum in December, is a yield-bearing asset that accumulates dollars for investors by holding short-term debt securities.

Tokenized Money Market Fund Drives Treasury Push

The new tokenized money market fund filing follows large financial firms studying the potential for tokenizing Treasury products across stablecoin reserve infrastructure. JPMorgan and BlackRock are more interested in moving reserve-linked liquidity on-chain via Treasury-backed instruments.

According to Bitwise research analyst Cam Khosravi, stablecoin liquidity is now the critical factor for institutions in deciding where to tokenize their assets. He said Ethereum could solidify its place as more reserve-backed products launch.

JPMorgan has tested tokenizing Treasury transfers outside the Ethereum network. The bank has participated in a test to transfer a tokenized U.S. Treasury fund via the XRP Ledger and interbank payment systems to a Singapore account in seconds.

Morgan Stanley made a move into the reserve-linked market earlier this year. It has introduced the Stablecoin Reserves Portfolio, which provides stablecoin issuers the opportunity to deposit reserve assets into one of its money market funds.

In April, the International Monetary Fund (IMF) issued a warning that tokenization could undermine the financial risk distribution capabilities of banks. It said those risks could be transferred to shared ledgers and smart contracts.

The IMF also pointed out that there was a lack of clarity regarding the ownership records and settlement finality. Its warning highlights the growth of the tokenized money market fund sector, while regulatory and legal issues continue to be significant.

Also Read: Ethereum Staking Proposal Could Reduce ETH Inflation in 2026

AVAX Price Prediction: Drastic 1.56% Rally Ahead

By | Edited By Sahana Kiran,,

AVAX price prediction has become the main subject of research because traders are watching the cryptocurrency market developments. The token has gained 5.32% over the past week, with analysts expecting another modest rise in the days ahead.

Current projections show Avalanche could climb to $10.22 by May 18, 2026. The price increase from the current value will reach 1.56%. The market showed only a slight increase, yet this development maintained positive market trends after recent trading fluctuations.

Source: CoinCodex

The broader outlook for 2026 remains cautious. Avalanche is expected to trade between $7.55 and $10.52 through the year. The projected average annual price sits at $9.15. The target needs to remain in place because it will allow investors to achieve a 4.54% return from the present market position.

Also Read: Avalanche (AVAX) Price Eyes $11 Bounce as Breakout Range Nears

AVAX Price Prediction Shows Neutral Momentum

The latest market sentiment around Avalanche remains neutral. Technical indicators are split almost evenly. Sixteen indicators currently flash bullish signals, while thirteen remain bearish.

Source: CoinCodex

The Relative Strength Index, one of the most watched momentum indicators, stands at 57.14. This places AVAX in neutral territory. It is neither overbought nor oversold. That often signals consolidation before a stronger move develops.

Source: CoinCodex

Moving averages provide traders with uncertain market signals. The 50-day simple moving average of Avalanche is forecast to reach $9.83 on June 12 2026. The 200-day simple moving average is expected to increase to $10.73 during the identical timeframe. Traders who monitor medium-term momentum will use these levels to identify upcoming trend developments.

Source: CoinCodex

AVAX Price Prediction Hinges on Key Levels

AVAX price predictions are currently trading at vital support levels and resistance points. The classical pivot levels show that three support levels exist at $9.63, $9.42, and $9.16. The strongest buying zone remains near the $9.16 mark.

Source: CoinCodex

The resistance levels for this asset reach their peak at $10.10, $10.36, and $10.57. The market will experience significant upward movement after the establishment of a clean price breakthrough above these critical levels.

The correlation data reveal an intriguing correlation pattern. Avalanche has moved closely with coins like Chainlink, Litecoin, and Cardano over the past week. It has developed a negative relationship with both Toncoin and Dash during this time period.

Source: CoinCodex

For now, Avalanche appears stuck between caution and optimism. Traders may need a decisive breakout before the next major trend becomes clear.

Also Read: Avalanche (AVAX) Shows Signs of Accumulation: Is a Bullish Shift to $200 Next?

CFTC Backs Kalshi as Ohio Targets Prediction Markets

By | Edited By Sahana Kiran,,

The Commodity Futures Trading Commission has joined Kalshi’s Ohio court fight, widening a legal clash over prediction markets. The agency asked a federal appeals court to stop states from treating federally regulated event contracts as illegal gambling under state law.

Ohio initiated action against Kalshi’s sports-related event contracts and filed an amicus brief in the CFTC case. State regulators had ordered the company to cease offering those products, claiming they were similar to illegal gambling.

Also Read: Crypto Prediction Markets’ Growth Accelerates As Regulators and Institutions Enter the Sector

CFTC Rejects State Gambling Claims Over Prediction Markets

Federal officials rejected that position. They said the contracts qualify as derivatives under federal law and are still subject to CFTC oversight. In its letter, the agency also accused Ohio regulators of overstepping by going after products that were federally supervised.

CFTC Chairman Michael Selig criticized the earlier Ohio ruling that went against Kalshi. He said the judge took “an improperly narrow view” of the agency’s power over prediction markets. His comments showed the regulator’s concern about state cases against event contracts.

Selig also addressed the dispute in a video posted on X. He said the CFTC would fight what he called an “onslaught of state-led litigation” against prediction market platforms. He argued that federally regulated derivative products should not be handled as state gambling operations.

The case may impact other companies in the industry. Other platforms, like Polymarket and Crypto.com, are also a part of the wider discussion on prediction markets. Sports and political event contracts have come under criticism from several states that claim those products involve betting.

CFTC Expands Legal Push Against State Regulators

The CFTC has already acted against regulators in Wisconsin, New York, Arizona, Connecticut, and Illinois. It has also backed Crypto.com in a lawsuit against the Nevada regulators earlier this year. The moves represent a broader federal effort to regain control over prediction markets.

Selig said the agency has been monitoring event-based contracts for more than 20 years. He claimed prediction markets can assist users in managing financial risks and also aid in price discovery. 

But critics are still worried about insider trading, manipulation, and speculation in sports and political results.

The Sixth Circuit is now reviewing the Kalshi dispute. According to legal experts quoted in the report, it is a case that could ultimately be brought to the United States Supreme Court. 

The decision could have implications for how comparable contracts are drafted, examined, and challenged nationwide in the courts. A ruling could be a key point of demarcation between federal derivatives regulation and state sports betting authority.

Also Read: Coinbase Loans Surpass $2.3 Billion After Solana Integration Launch

XRP Ledger Wallets Holding 10,000 Tokens Hit Record 332,230 High

By | Edited By Sahana Kiran,,

XRP is showing renewed strength as XRP Ledger wallets holding significant balances continue to rise across the network. Recent on-chain data indicate that  XRP ledger wallets have witnessed significant growth, reaching a record of XRP ledger wallets with more than 10,000 XRP tokens, despite market fluctuations.

At the time of writing, XRP was trading at $1.45, with a 24-hour trading volume of $3.06 billion and a market capitalization of $89.80 billion. The asset slipped 0.57% over the past day but continued to hold above important support zones.

XRP price chart
Source: CoinGecko

Also Read | Ethereum Staking Proposal Could Reduce ETH Inflation in 2026

XRP Ledger Wallets Hit Record 332,230 Milestone

Data from the blockchain analytics platform, Santiment, suggests that XRP Ledger wallets have touched a new all-time high of 332,230 wallet addresses having at least 10,000 XRP tokens. The increase in the number of such wallets indicates a consistent long-term accumulation trend among big XRP ledger wallets ever since mid-2024.

XRP Ledger wallets
Source: Santiment’s X Post

The trend of increasing numbers of medium-sized and large wallets usually signals confidence on the part of investors, especially those who tend to accumulate tokens for the long term rather than make quick trades. Interestingly, despite witnessing many ups and downs, the accumulation trend continues for XRP since most of 2026 has been spent below its previous high prices.

Santiment also pointed to a noticeable decline of more than 4,500 large XRP wallets between February 6 and February 8. While no direct XRP-related event was tied to the drop, the timing matched the broader crypto market selloff and liquidation wave that hit digital assets on February 5. Since then, the number of large wallets has fully recovered and moved to new record highs.

XRP Technical Analysis Eyes $1.50 Breakout Target

On the technical side, XRP has recently shown recovery as it found support near $1.4180 level. As it happens with Bitcoin and Ethereum, XRP managed to recover and has broken above the $1.4250 and $1.4320 resistance levels.

XRP climbed above the 23.6% Fibonacci retracement from the fall from its high price level of $1.4876 to its low of $1.4185. Selling pressure can be observed near the $1.4550 level, while bearish trend lines have formed near the $1.4620 resistance zone.

XRP price analysis
Source: TradingView

At the moment, XRP has been trading above the $1.4350 level and the 100-hour Simple Moving Average, indicating that bulls have defended the current price level. If this bullish trend persists, the price could challenge the $1.4550 resistance level before aiming at $1.4610, which is the 61.8% Fibonacci retracement level.

However, a breakout above $1.4610 could mean XRP moving higher towards $1.480 and $1.4880. A further push above $1.4880 could lead the price towards the $1.50 psychological resistance level and further upwards towards $1.520 in the short-term.

Meanwhile, failure to break above the $1.4620 level could see XRP reversing lower once again towards support at $1.440. Important supports remain at $1.4320 and $1.4180. A breakdown below these levels could expose XRP to additional declines toward $1.4050 and potentially $1.3880.

Technical indicators show improving momentum in favor of the bulls. The hour-by-hour MACD histogram shows increasing bullish momentum, while RSI has climbed above the 50-level.

Also Read | Bitcoin Risk Appetite Falls as BTC Premium Drops to 0%

Coinbase Loans Surpass $2.3 Billion After Solana Integration Launch

By | Edited By Messam Raza,,

Coinbase Loans has expanded its crypto-backed on-chain lending service by adding Solana as eligible collateral, further broadening borrowing options for digital asset holders. The update enables users to unlock liquidity without selling holdings, strengthening the Coinbase loan ecosystem as total loan originations across the platform have now surpassed the $2.3 billion overall mark.

According to platform data, Bitcoin-backed loans dominate activity at approximately $2.17 billion, followed by Ethereum-based loans worth approximately $110 million. The statistics reflect high concentration in major coins, although the number of available collateral types on the Coinbase loan keeps growing.

Also Read | Bhutan’s GMC Crypto Framework Links Licensing With Banking

Solana Added as New Collateral for Coinbase Loan Users

With the latest update, eligible users can now borrow up to $100,000 against their Solana holdings. The feature allows investors to access liquidity without liquidating positions, reflecting growing demand for diversified collateral assets as network usage and investor interest in Solana continue to expand across global crypto markets worldwide.

Coinbase’s lending expansion follows its broader push into on-chain financial services, including a recent launch in the United Kingdom. The product aims to strengthen its position in crypto credit markets, where both centralized and decentralized platforms are competing to attract users seeking yield, liquidity, and asset-backed borrowing solutions globally.

Market Performance and Institutional Outlook

Despite challenging market conditions, Coinbase reported a net loss of $394.1 million in its first-quarter results. Furthermore, the company laid off about 14% of its employees. In his interview, CEO Brian Armstrong said that in a decade or two, all finance would be done on blockchain technology.

However, many experts believe that the company is heading in the right direction despite a drop in its financial performance. Analysts from Bernstein, for example, expressed cautious optimism about the company’s long-term potential to become an everything exchange.

The firm retained its outperform rating with a price target of $330. Another research firm also reaffirmed its buy rating, signaling strong long-term confidence in Coinbase loan and its broader product ecosystem.

Solana is currently trading at $95.21, with a 24-hour trading volume of $5.74 billion and a market capitalization of $55.02 billion. The asset declined slightly over the past day, reflecting broader volatility across major cryptocurrencies as market participants adjust positions amid shifting macroeconomic and liquidity conditions in markets globally.

Solana price chart
Source: CoinMarketCap

Also Read | Ethereum Staking Proposal Could Reduce ETH Inflation in 2026

JASMY Price Prediction: Bullish Structure Points to a Rally Toward $0.0099

By | Edited By Ammar Raza,,

JasmyCoin (JASMY) shows a shift from a prolonged bearish trend into a strong recovery phase, with recent candles breaking above the prior consolidation range. Technical indicators support this upward bias, with the JASMY price moving above key dynamic levels.

While derivatives data point to a cautious outlook with decreasing open interest and volume. According to CoinMarketCap, JASMY is trading at $0.006681 with a weekly gain of 16.61%.

JASMY Price analysis

Source: CoinMarketCap

JASMY Derivatives Point to Decreasing Momentum

According to Coinglass, the JASMY open interest declined by 13.28% to $25.66 million, indicating reduced outstanding derivative positions. This suggests traders are closing contracts or cutting exposure, reflecting cautious sentiment and lower market participation amid recent volatility and shifting trading conditions.

JASMY Derivatives Point to Decreasing Momentum

Source: Coinglass

Trading volume fell by 21.65% to $53.58 million, showing reduced market activity and weaker participation. This decline suggests fading short-term interest lower liquidity and cautious trading behavior as investors respond to recent price movements and uncertainty across market environment

Also Read: JASMY Price Eyes Breakout: Falling Wedge Could Trigger $0.02 Rally

JASMY Price Setup Strengthens Consolidation Phase

Furthermore, the crypto analyst Team LAMBO pointed out that the JASMY price had been consolidating for the past three weeks, working on refining its technical framework, but is now making its way out of its consolidation with strong momentum. 

It has progressed from the initial bullish formation in the first week to a more robust bullish formation, where the JASMY price is trading above the base level. Support and resistance levels are at 0.0060 and 0.0099, respectively.

JASMY price analysis

Source: Team LAMBO’s X Post

With the decline of Bitcoin’s supremacy, the funds move into strong altcoins like JASMY. Under these circumstances, it is advantageous to own higher-beta stocks as liquidity leaves the cryptocurrency market with the decline of Bitcoin. 

If the support at 0.0060 holds out, the picture will stay bullish and facilitate the JASMY price rally towards 0.0099.

Technical Indicators Point to a Recovery Phase

According to TradingView, the price movement in the JASMY price follows a prolonged bearish trend that began at the end of 2025. Following a period of decline, the most recent candles show an abrupt bullish trend reversal in the JASMY price. There has been a clean breakout from the mid-Bollinger Band, indicating a significant change in market sentiment due to increased volatility.

JASMY price analysis

Source: TradingView

Technically speaking, there is an underlying bullish bias to support the strength of the advance. However, the MACD has gone positive, where the signal line is moving up and the green histogram bars have expanded. There may be more buying interest ahead, as suggested by the bullish signals coming from the MACD.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read: JASMY Price Targets $0.0099 After an Explosive Breakout Above $0.006

Ethena Price Rally to $0.80 Possible After Technical Breakout

By | Edited By Ammar Raza,,

Ethena price is currently showing a market structure that combines both negative and positive elements, wherein the immediate weakness has to be viewed against the possibility of a technical breakout at higher time frames.

Though there have been fewer trades in recent days and less participation in the markets, there have been some signs of a change in momentum developing through chart patterns.

At the time of writing, ENA is trading at $0.1212, marking a 6.93% decline over the last 24 hours. The Ethena price has come under pressure as selling activity continues in the spot market, while trading volume remains elevated at around $230.30 million. Despite the downturn, the broader market structure is showing early signs that the bearish phase may be losing intensity.

Ethena price chart

Source: CoinMarketCap

Also Read | XRP Price Analysis: Can XRP Reclaim $1.49 Resistance?

Ethena Price Breakout Hints Reversal

From a technical point of view, Ethena’s price has been in focus lately following a mention by popular crypto analyst Butterfly of a bullish formation that was spotted on the 3-day timeframe. The technical review provides further context.

Ethena price analysis

Source: Butterfly’s X Post

Butterfly noted that ENA has made a breakout from the descending channel boundary, suggesting that bearish power is waning. A further increase in strength could see the token rally up to $0.80.

Ethena Derivatives Signal Weakness

On the derivative side, lower participation also indicates reluctance on the part of investors. The open interest has fallen by 10.43% to $232.93 million, while the futures contract turnover has decreased by 23.68% to $351.91 million. Such a fall reveals decreased speculative positions on the Ethena price, implying that most market participants are awaiting a clear direction.

Ethena Derivatives Signal Weakness

Source: Coinglass

The financing terms are rather impartial since the OI-weighted financing rate equals 0.0036%. The neutrality demonstrated by the terms reflects the fact that investors don’t have either a bullish or a bearish sentiment toward the Ethena price, confirming the transitional state of the market.

Ethena Derivatives Signal Weakness

Source: Coinglass

Overall, there is short-term pressure on the performance of Ethena shares, but the latest breakout formation keeps attention on whether the share price will sustain its momentum going forward.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read | SHIB Price Ascending Triangle Signals Rally Toward $0.00000760 Resistance Ahead

Litecoin Price Nears Key Resistance While Quiet LTC Accumulation Expands

By | Edited By Ammar Raza,,

Litecoin price is seeing waning energy amid its accumulation by long-term investors despite low social engagement. Having made a run following a bullish impulse, LTC is set to consolidate before its next big move.

At the time of writing, LTC is trading at $57.29, down 2.04% over the last 24 hours. The cryptocurrency recorded a daily trading volume of $377 million, while its market capitalization remained close to $4.42 billion, according to CoinMarketCap.

Litecoin price chart

Source: CoinMarketCap

Also Read | Hyperliquid ETF Filing by Grayscale Adds Staking Feature for HYPE Investors

LTC  Price Quietly Builds Momentum

Recently, data shared by crypto analytics firm Alphractal indicated that there was a significant change in the behavior of the Litecoin price. As reported on May 12, despite a decrease in conversations about the coin and reduced social interaction, LTC holders were able to increase their stake in the currency in April.

LTC  Price Quietly Builds Momentum

Source: Alpharactal’s X Post

According to the analytics firm, long-term holdings of supplies were growing steadily throughout the month, indicating that investor confidence remained strong despite low market focus on the asset. This type of behavior is generally considered indicative of a silent building phase.

Litecoin Price Momentum Begins Cooling Near Resistance

The Litecoin price was last seen rising, but it appears that it has started to slow down due to resistance near the $57 mark. The technical analysis indicates that the buyers currently have an edge, albeit a weakening one.

The current RSI stands at 53.44, while its moving average is at 56.04. The RSI being above the 50 mark suggests a preference for buyers in the current trading range.

However, the RSI is showing considerable weakness since it is below the highs recently experienced, meaning that investors are now locking in their gains following the bullishness shown by Litecoin.

Litecoin Price Momentum Begins Cooling Near Resistance

Source: TradingView

Meanwhile, the MACD is still indicating positive momentum for the currency pair. The MACD line has been holding steady at 0.81852 against the signal line at 0.58480, while the histogram is trading at 0.23372.

Despite all that, the decreasing distance between the MACD and signal lines indicates that upward momentum is losing steam. Should the downward pressure on sales continue to increase, the Litecoin price might consolidate for a while prior to breaking out.

Currently, the Litecoin price is still fairly well-balanced, thanks to the persistent accumulation that continues to occur despite the declining short-term momentum.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.

Also Read | CAKE Price Prediction: Bullish Structure Points to a Rally Toward $1.80 Target