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Bitcoin’s (BTC) Major Crash: Why the Price Could Skyrocket Again

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  • Bitcoin has not yet reached its market peak according to key indicators.
  • RSI, moving averages, and valuation charts suggest further upside potential.
  • Historical patterns show Bitcoin is likely to break out again, reaching new highs.

Bitcoin’s price took a hit recently, triggering speculation about whether the market has reached its peak. Lookonchain’s latest analysis examined five key indicators to assess BTC’s current standing. Despite the recent pullback, data suggests Bitcoin still has room to grow before reaching its cycle top.

The Bitcoin Rainbow Chart, a long-term valuation tool, remains bullish. According to the updated Rainbow2023 Chart, BTC’s projected peak for this cycle is above $250,000. If the chart holds true, the current correction might be just a bump on the road to higher prices.

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Indicators Point to Continued Growth

The Relative Strength Index (RSI) stands at 75.56 at present. As much as this reveals BTC to be in overbought, its value can go even higher in terms of its RSI level before a real top can occur, according to past BTC cycles, with values over 85 preceding sharp downturns in BTC.

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The 200-week moving average Heatmap stays in the blue zone, and BTC is a long, long way off its all-time high. And, in terms of Cumulative Value Coin Days Destroyed (CVDD), BTC’s high isn’t in yet, nor is it in a state of extreme overextension, a position it attains in its history when BTC actually reaches its high mark.

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Another key indicator, 2-Year MA Multiplier, shows BTC trading between critical valuation bands. It hasn’t yet touched its uppermost red band, a level in the past that marked a bull cycle high. That means that the market hasn’t yet touched its full expansion potential, with a strong reversal yet to follow.

Market Cycles Support Further Bitcoin’s Upside

Market history confirms that Bitcoin experiences cycles of breakouts and then consolidating, and such a recurring pattern was stressed by analyst Mags, according to whom BTC has seen similar price channels six times in the past. In all six cases, Bitcoin experienced breakouts to new highs in the long run.

If this holds, then the present dip can simply be a pullback for a new rally. The form of the market is not broken, and price actions in the past have foreshadowed Bitcoin moving even higher in its eventual high.

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Bulls Remain in Control Despite Volatility

While short-term rebalancing is widespread, long-term BTC trends are positive. With a combination of strong technical statistics, long-term trends, and present cycles in the marketplace, Bitcoin’s bull run isn’t over yet.

Investors watching for such indications can view the present dip not as a sign of an impending bust but as a buying opportunity. BTC, in its past performance, can have future all-time highs in store for future weeks.

Related | Rollblock Breaks $10M in Presale Funding The Altcoin Set to Outshine Bitcoin and XRP

Banks Can’t Ignore XRP Anymore—Here’s Why It’s a Game Changer

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  • Banks are already using Ripple’s technology and integrating it into global finance.
  • XRP’s market cap could surge, with projections reaching as high as $4 trillion.
  • Institutional investors are positioning early for the shift to blockchain payments.

The financial landscape is shifting as major banks begin using Ripple’s blockchain. Jake Claver highlights that financial institutions that once dismissed crypto are now embracing it. This isn’t a theoretical future—it’s happening today. Ripple’s network processes real transactions and provides faster and cheaper solutions than traditional payment systems.

Once skeptical of blockchain, banks are now relying on Ripple’s infrastructure for cross-border payments. The change signals a major shift in how financial institutions approach money transfers. The same banks that once dismissed crypto as a fad are now lining up to adopt the technology.

A Shift Toward Faster, Cheaper Transactions

XRP’s rising volumes have nothing to do with speculation but with the real utility of Ripple’s network. Having the ability to move significant sums instantly, at a fraction of traditional methodologies’ cost, piquing institution investors’ interest.

Claver points out that enriching the rich isn’t simply an issue at hand. What happens, in fact, is an access impact, with payments becoming easier for everyone in the world. As banks integrate XRP into their networks, financial service is reworked for use and not in conflict with its citizens.

XRP Market Cap Projections Spark Interest

EGRAG CRYPTO’s recent analysis puts XRP’s value at over $1 trillion, even $4 trillion in a most extreme case scenario. In such a case, its value can go sky high to $70. Even a fairly bullish scenario, nevertheless, puts XRP at $5-$6 in case its value in the marketplace reaches $300 billion.

The projections use Elliott Wave analysis, tracking past trends in a quest to predict future price actions. Looking at past cycles, XRP will break through $1.1 trillion first, sending its price towards $20 and then encounter waves of expansion afterwards.

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Market Cycles Suggest a Big Move Ahead

EGRAG CRYPTO painted a different picture with XRP’s market cap moving towards $500 billion in its next move, with price between $17 and $20. There then could follow a correction, dropping market cap to $200 billion, with a blow-off top in a last move sending XRP to $1 trillion, in harmony with Fibonacci values for a retraction

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Market movements don’t go in a direct form, but trends speak volumes about a massive rally in store for it. With financial institutions increasingly taking in XRP, its long-term direction is bullish, with institution funds investing significant in its future.

Related | Bitcoin Reacts As China Hits Back with Bold 10-15% Tariffs on U.S. Imports

Memecoin Mania: Ugly Legacy, Yet a Powerful Catalyst for Crypto Innovation

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  • Memecoins stress-tested blockchains, driving innovation and resilience.
  • They helped onboard more users to on-chain ecosystems, fostering adoption.
  • DEXs now rival CEXs in volume and price discovery, with memecoins playing a role.

Ignas, a well-known DeFi commentator, recently took to X to reflect on the legacy of the memecoin mania that took over the crypto space. According to him, while crypto bubbles are predominantly fueled by gambling, wasting resources, and speculation, there’s a small silver lining: the remaining 5% that contributes to true innovation. The rise and fall of memecoins are a prime example of this trend.

Memecoins: Value Extraction, Not Innovation

Memecoins have largely been seen as a way for early adopters to extract value with little to no meaningful contribution to the crypto ecosystem. However, Ignas notes that these tokens did, in some cases, test blockchains under pressure.

Coins like Dogecoin and Shiba Inu may not have added much value, but they did expose weaknesses in networks like Solana, including flaws related to low-float, high FDV tokens. Despite this, they left behind no significant innovation of their own.

The Role of DeFi in the Evolution

Its mania has undeniably played a part in shaping the decentralized finance (DeFi) landscape. While the ICO boom and DeFi summer were riddled with ponzi schemes and scams, they ultimately gave birth to successful projects like Aave, Compound, Yearn Finance, and Uniswap. By contrast, it seem to have only led to value extraction and offer little in terms of actual innovation. Still, they served a critical function in testing DeFi’s scalability and resilience.

Memecoins: A Controversial Future

As the memecoin controversy rages, a part of them have a rosy future in store, in their view. With a fair launch mechanism, a part of the coins, specifically ones that have been started on Bitcoin (e.g., BRC-20 tokens), have been developed, in their view.

This is seen as a potential direction for equitable token distributions, in contrast with memecoin pumpphony and dumpculture. Moreover, these coins brought in users onto on-chain culture, teaching them about wallets, DEXs, and bridges.

Others, however, have an opinion that memecoins will make a lasting contribution in the crypto community, even when near-term ramifications will appear to have a damaging impact.

A Modest Yet Lasting Legacy

While it’s hard to imagine memecoin madness being nostalgically seen in years to come, its presence cannot be refuted. What will mold the future of crypto, nevertheless, is lessons learned, testing of blockchains, and growing use of decentralized technology. These coins madness, in its ugliness, prepared a future for a strong and decentralized environment.

Related | Bitcoin Reacts As China Hits Back with Bold 10-15% Tariffs on U.S. Imports

XRP ETF Approval in 2025? Grayscale Files Amid SEC Delays

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  • Bloomberg’s James Seyffart predicts an XRP ETF approval in 2025, but Litecoin may come first.
  • Grayscale applies to turn its XRP trust into an ETF as the industry waits for favorable regulations.
  • The SEC’s stance on Ripple’s native token as a security remains a major roadblock to approval.

Grayscale, a renowned manager of cryptocurrencies, filed a formally with the U.S. Security and Exchange Commission (SEC) for an XRP exchange traded fund (ETF). It is in a follow-up move, with several companies wanting to make a gamble with the Trump administration’s soft stance towards cryptocurrencies.

Grayscale’s XRP trust, with assets worth about $16.1 million, seeks to make investors have access to the cryptocurrency in a less complex and less expensive form, bypassing direct purchase of the coin. Dave LaValle, Grayscale’s Global Head of ETFs, emphasized the company’s dedication to innovation, citing its objective to expand access to investors for digital assets and the DeFi environment.

The application for converting the Ripple’s cryptocurrency trust into an ETF is Grayscale’s expansion into its presence in growing ETFs in cryptocurrencies. It is part of a long sequence of companies in an attempt to launch ETFs for Solana, Dogecoin, and Litecoin, amongst many more.

Since Donald Trump’s presidency, hope for a brighter future for cryptocurrencies’ regulating environment grew larger. With the future appointment of a renowned supporter of cryptocurrencies, including Paul Atkins, to serve as a new head of the SEC, a new era for cryptocurrencies could soon become a reality.

Many within the community have a perception that Atkins will take a less stringent approach towards regulating cryptocurrencies in contrast with current head Gary Gensler. Nevertheless, even with such a transition, not all impediments have been cleared for XRP.

XRP ETF Faces Legal Hurdles as Litecoin Gains Favor

While some speculate about approval for an XRP ETF in 2025, Bloomberg analyst James Seyffart advises that impediments stand in its way. The SEC continues to view XRP as a security, a characterization that impedes an ETF approval. In Seyffart’s view, a Litecoin ETF could receive approval first without having branded Litecoin as a security, and hence, not a contentious one.

Despite these obstacles, Ripple’s head, Monica Long, is positive about XRP’s future. In a statement recently, she hinted at ETF approval “very soon,” praising it as a future big win in an increasingly burgeoning ETF for cryptocurrencies.

Several other fund companies have pursued a similar route and filed for XRP ETFs, including Bitwise Wisdom Tree and, most recently, Canary. All such filings have strong institutional demand for XRP, but approval will rely on overcoming ongoing court battles.

Related | Beyond Solana: Skyren DAO Emerges as Top Contender in $200 Billion DeFi Market

Memecoins Beyond Hype? CryptoQuant CEO Predicts Their Surprising Evolution

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  • 97% of memecoins have lost value, showing their speculative nature.
  • Crypto exchanges are seen as key players in the memecoin craze.
  • Memecoins could evolve into structured communities with real-world utility.

Ki Young Ju, CEO of CryptoQuant, shared his perspective on memecoins, calling them an early form of collective consciousness.  As much as he doesn’t enjoy them, he sees a transformational potential in them. Memecoin communities, according to Ju, work in a similar manner to religious communities under a shared doctrine.

https://twitter.com/ki_young_ju/status/1886042007547814138

Currently, they have a negative connotation, with criticism focused at crypto exchanges. Yet, in his opinion, the coins can, in the long-term, become organized structures with real utility, possibly supporting charities, NGOs, and other noble causes in virtual communities.

Binance Research: 97% of Memecoins Have Failed

A recent report by Binance Research portrays a dire scenario for memecoin viability, with 97% becoming worthless. Memecoins, in a seeming contradiction to backing decentralization and transparency, have a propensity for prioritizing financial speculations over innovation, according to a report.

Despite this, in 2022, their value tripled in terms of market value, and currently, they contribute 11% to the crypto market cap (excluding BTC, ETH, and stablecoins). Nevertheless, it is less compared to 2021 when DOGE and SHIB hit $80B and $39B, respectively.

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Source: Binance

Rapid Growth, Faster Deaths

Memecoins are popping in and out at a record pace. How long it takes for new coins to gain traction has become shorter—$WIF reached a $1B market cap in 104 days, when $SHIB took 279 days and DOGE took eight years. They’ ease of creation comes at a cost, with them popping out in droves overnight. Most, nevertheless, have a short life, with 97% having near-zero trading volumes. Most, even with a few exceptions, have a short life, sustained through hype in the marketplace and not through real value.

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Source: Binance

Will Memecoins Evolve or Fade?

The memecoin marketplace is uncertain. DOGE and SHIB have withstood the test of time, but most of them fritter out of existence almost as soon as they arrive. The big question is whether memecoins will develop into organized financial and social instruments or will forever be mere speculative assets. If they can transition out of hype trading and into utility use, then memecoins can become a part of a lasting role in the crypto economy. Otherwise, memecoins will forever be a high-risk gamble with transient utility.

Related | Can Ethereum (ETH) Break Out Of Its Short-Term Wedge Pattern?

Chainlink (LINK) Eyes $35 as Whale Accumulation and Spot Momentum Drive Bullish Outlook

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  • Chainlink is seeing aggressive accumulation by whales in the $18–$22 range, reflecting strong confidence among large holders.
  • Chainlink’s current rally is driven solely by spot trading, with leverage positions absent since early December, highlighting strong organic demand.
  • LINK has broken key resistance levels and is consolidating, which often sets the stage for significant price movements toward the $35–$36 range.

Chainlink (LINK) is navigating turbulent waters as its price faces significant downward pressure, reflecting the broader market downturn triggered by Bitcoin’s recent decline. This sudden shift has instilled fear across the crypto landscape, causing altcoins, including Chainlink, to lose their footing.

At the time of writing, LINK is trading at $23.29, with a 24-hour trading volume of $1.07 billion, a market cap of $14.86 billion, and a market dominance of 0.43%. The token has seen a sharp decrease of 7.05% over the past 24 hours, underscoring the volatility that has gripped the market.

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Chainlink (LINK) Eyes $35 as Whale Accumulation and Spot Momentum Drive Bullish Outlook 13

Spot-Driven Rally Amid Whale Accumulation

Despite the current decline, LINK’s price action reveals some interesting dynamics. Notably, the token is trading free of leverage, with whales aggressively accumulating LINK in the $18-$22 range. This accumulation suggests strong underlying confidence among large holders.

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Chainlink (LINK) Eyes $35 as Whale Accumulation and Spot Momentum Drive Bullish Outlook 14

The current rally is entirely spot-driven, with leverage positions having been flushed out since early December, and they have yet to return. However, despite the absence of leverage, LINK has managed to regain upward momentum, highlighting the resilience of its spot market demand.

Chainlink Bullish Midterm Outlook

While the short-term outlook reflects bearish sentiment, LINK’s midterm prospects remain optimistic. According to recent market observations, Chainlink has successfully broken through key resistance levels, confirmed by a retest, and is currently consolidating in this range. This consolidation phase often precedes a significant price movement.

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Chainlink (LINK) Eyes $35 as Whale Accumulation and Spot Momentum Drive Bullish Outlook 15

Market analyst expectations suggest that LINK could target the $35-$36 range in the coming days. A decisive break above this resistance could pave the way for a new all-time high, signaling renewed bullish momentum. The absence of leveraged positions adds to the potential stability of this growth, reducing the likelihood of sudden liquidation events that typically exacerbate volatility.

Chainlink’s Long-Term Potential

For investors concerned about missing out on LINK’s growth, there’s still ample opportunity. Chainlink’s core technology serves as the bridge connecting blockchains to real-world data, positioning it as a critical infrastructure component in the expanding blockchain ecosystem. Its true potential is expected to unfold as regulatory clarity emerges, enabling broader adoption by banks, businesses, and institutions.

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As blockchain adoption accelerates, the demand for Chainlink’s services will likely surge, driving its value higher. This positions LINK as a compelling long-term investment opportunity, with strong growth prospects well into 2025 and beyond. The current market turbulence, while unsettling, may present a strategic entry point for those looking to capitalize on Chainlink’s transformative role in the crypto space.

Related Reading | XRP Ledger’s Latest Amendments to Improve Regulatory Compliance for Issued Tokens

Aave (AAVE) Set for Potential 6,400% Surge: Key Resistance Levels to Watch

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  • AAVE has dropped 6% in the past week, mirroring the broader market sell-off but shows resilience at key support levels.
  • Key resistance levels at $243 and $365 must be overcome for potential price appreciation.
  • AAVE surged 6,400% after breaking a resistance trendline in June 2020, indicating potential for another rally if resistance is cleared.
  • The next few weeks will be crucial for AAVE to break key barriers and strengthen its position in the DeFi space.

Aave (AAVE) has recently encountered some turbulence, with its value declining by 6% over the past week. This drop mirrors the broader market sell-off, which was triggered by Bitcoin’s recent price dip. While the downturn may have caused some concern among investors, AAVE is showing signs of resilience. The token has managed to hold steady at crucial support levels, positioning itself for a potential rebound and upward momentum once market conditions stabilize.

Currently, Aave is priced at $315.72, with a 24-hour trading volume of $1.29 billion and a market capitalization of $4.75 billion. Despite the 4.21% decrease in price over the last 24 hours, AAVE continues to display strength as it consolidates around its key support levels.

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Aave (AAVE) Set for Potential 6,400% Surge: Key Resistance Levels to Watch 19

AAVE Set for 6,400% Surge After Resistance Test

Crypto analyst Ali Martinez has identified two key supply barriers that AAVE must overcome in order to see further price appreciation. These levels are at $243 and $365, and clearing them will be crucial for a bullish breakout. If AAVE can break above these resistance levels, it may signal the start of a more significant upward trend, pushing the token towards new highs.

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Aave (AAVE) Set for Potential 6,400% Surge: Key Resistance Levels to Watch 20

In terms of technical analysis, AAVE’s price action has been closely monitored by market experts. In June 2020, the token broke through the TD Sequential resistance trendline, marked by black dots on the monthly chart, which led to an explosive 6,400% rally to the 1.618 Fibonacci extension level.

This massive surge in price sparked widespread attention, and some analysts are now suggesting that the token may be testing this key level once again. If the token manages to break through this resistance, a similar rally could follow, potentially propelling the token to new all-time highs, with some projections reaching as high as $3,500.

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Aave (AAVE) Set for Potential 6,400% Surge: Key Resistance Levels to Watch 21

While the broader market faces uncertainty, the token’s ability to hold strong at its support levels offers hope for investors looking for opportunities in the decentralized finance (DeFi) space. With key resistance levels in sight, the next few weeks could be pivotal for the token’s trajectory.

If the token can break past these barriers, it may set the stage for significant price appreciation, reaffirming its position as one of the leading DeFi projects in the market. As always, market conditions remain fluid, and the potential for volatility continues. Investors will be watching closely to see if the token can maintain its position and build on its momentum.

Related Reading | Grayscale Unveils Bold Push for Spot Dogecoin ETF Under 19b-4 Filing

Bitcoin (BTC) Defends $100K and Sets Sights on Bullish Breakout to $120K

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  • Bitcoin holds steady above the $100,000 support level despite a 2.49% decline, showing potential for a bullish reversal.
  • A $1.2 billion liquidation event has cleared overleveraged positions, setting the stage for a possible upward rally.
  • The ascending triangle pattern suggests a breakout above $106,000 could trigger a sharp move toward the $120,000 target.

Bitcoin (BTC) is navigating through turbulent market conditions, facing a decline in value while fiercely defending its crucial $100,000 support level. Despite recent bearish pressure, BTC has managed to hold firm, signaling potential resilience for a bullish comeback.

At the time of writing, Bitcoin’s price stands at $102,020, marking a 2.49% decrease over the past 24 hours. The flagship cryptocurrency boasts a market cap of $2.02 trillion. Its 24-hour trading volume has surged to $64.84 billion, reflecting heightened market activity amid the recent volatility.

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Bitcoin (BTC) Defends $100K and Sets Sights on Bullish Breakout to $120K 26

Bitcoin Liquidation Event Signals Strong Upside

Bitcoin recently experienced a significant liquidation event, with $1.2 billion in open interest wiped out. While such flushes can be alarming, they often serve as healthy resets, eliminating overleveraged positions and creating a more stable foundation for future price action. The removal of speculative excess often paves the way for stronger, more sustainable rallies.

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Bitcoin (BTC) Defends $100K and Sets Sights on Bullish Breakout to $120K 27

Despite the decline, Bitcoin’s funding rates remain bullish, suggesting strong underlying demand in the derivatives market. Interestingly, major liquidations are not clustered below key support levels but rather stacked above recent price highs.

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Bitcoin (BTC) Defends $100K and Sets Sights on Bullish Breakout to $120K 28

This unusual setup indicates that liquidity is concentrated to the upside, increasing the likelihood of a short squeeze. In such scenarios, aggressive short sellers may be forced to cover their positions rapidly, driving prices higher in a swift rally.

Bitcoin Poised for Surge with $120K in Sight

From a technical analysis perspective, Bitcoin is forming an ascending triangle pattern on the daily chart, a structure typically associated with bullish continuation.

For BTC to confirm an upward breakout, bulls need to decisively breach the critical $106,000 resistance level. If successful, this breakout could trigger a sharp rally, with the next major target set at $120,000.

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Bitcoin (BTC) Defends $100K and Sets Sights on Bullish Breakout to $120K 29

With liquidity stacked above current price levels, bullish funding rates, and a potential short squeeze on the horizon, Bitcoin appears poised for a decisive move. Traders and investors are closely monitoring whether BTC can maintain its support and overcome resistance to ignite the next leg of its bull run.

Related Reading | Kraken Takes Bold Step to Delist USDT and Stablecoins in Europe in 2025

Cardano (ADA) Eyes 40% Surge, Following Plomin Hard Fork & Market Recovery

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  • Cardano (ADA) dropped to $0.86 due to market sell-offs but has gained 12% in 30 days, despite a 2.36% drop in the last week.
  • The Plomin Hard Fork made Cardano fully decentralized, giving ADA holders governance rights, which could boost demand.
  • ADA is consolidating in a symmetrical triangle, with a potential 40% price surge if it breaks out.

Cardano (ADA) has faced a turbulent period recently, hitting a low of $0.86 due to a massive sell-off in the cryptocurrency market. This was largely triggered by Bitcoin’s retracement from its all-time high, which affected the entire market, including ADA, to lose ground.

Despite the setbacks, ADA has shown resilience, with the price of ADA up nearly 12% over the past 30 days. However, in the last 7 days, ADA has seen a slight dip of 2.36%. As Bitcoin’s price recovers and approaches $106K, the overall cryptocurrency market is beginning to bounce back. This positive momentum could pave the way for Cardano to build upward momentum.

At the time of writing, the price of ADA stands at $0.9748, with a 24-hour trading volume of $1.19 billion and a market capitalization of $34.29 billion. Despite a slight 0.29% decrease in the last 24 hours, ADA’s longer-term outlook remains optimistic.

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Cardano (ADA) Eyes 40% Surge, Following Plomin Hard Fork & Market Recovery 32

Cardano’s Decentralization Milestone: The Plomin Hard Fork

One of the key developments that could significantly impact ADA’s future price is the completion of the Plomin Hard Fork. This major update has made the Cardano network fully decentralized, marking a significant step forward for the blockchain platform. The Plomin Hard Fork allows ADA token holders to participate in the governance process, enabling them to vote on network upgrades and how the treasury funds are spent.

The shift to a fully decentralized governance model is expected to increase interest in Cardano’s ecosystem, which could drive demand for ADA in the long term. While Cardano’s price hasn’t experienced a dramatic surge yet, this critical milestone sets the stage for potential future growth. As more users and investors become aware of the increased control and participation offered by Cardano, the price of ADA could see upward momentum.

Cardano (ADA) Eyes 40% Price Surge

Looking at the technical side, ADA is currently consolidating within a symmetrical triangle pattern, a common setup that precedes significant price moves. Crypto analyst Ali Martinez has pointed out that this pattern could trigger a breakout, potentially pushing ADA’s price up by as much as 40%. This breakout would signify a shift in momentum, as ADA capitalizes on the broader market rebound and its newly decentralized governance.

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Cardano (ADA) Eyes 40% Surge, Following Plomin Hard Fork & Market Recovery 33

Cardano (ADA) is at a pivotal moment. With the Plomin Hard Fork complete and the market showing signs of recovery, ADA could be gearing up for the next phase of its growth. Investors and traders will be closely monitoring ADA’s performance in the coming weeks, as the market dynamics, combined with the growing interest in Cardano’s decentralized governance, could fuel a significant price surge.

Related Reading | Kraken Staking is Back: Unlock Massive Rewards on ETH, SOL, ADA & More

Disclaimer:

The information provided on this website is intended for general informational purposes only and does not constitute professional financial advice. Users should conduct their own research and consult with a licensed financial advisor before making any investment decisions. By using this site, you acknowledge and accept that you are solely responsible for your investment choices and any associated risks.

Stellar (XLM) Shows Strength Amid Market Shifts, Targeting $1.29 as Bullish Momentum Builds

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  • Stellar (XLM) has gained nearly 22% in the past month, signaling a solid recovery despite broader market volatility.
  • XLM has only dipped 4% in the last week, showcasing its stability amid recent market corrections.
  • With a positive 4.64% increase in the past 24 hours, XLM is well-positioned to benefit from the shift to a bullish market, with potential targets as high as $1.29.

Stellar (XLM) has proven itself as a resilient cryptocurrency in the face of market turbulence, showcasing strong signs of growth and positioning itself for an upside surge. Over the past month, Stellar’s price has increased by nearly 22%, signaling a solid recovery and potential for future growth despite the broader market’s volatility.

Stellar (XLM) Resilience Amid Market Volatility

The cryptocurrency market recently experienced a significant sell-off, triggered by Bitcoin’s retracements from its new all-time highs. These retracements led to massive losses for altcoins, as many of them struggled to maintain ground. However, Stellar (XLM) has demonstrated remarkable stability during this period, with only a slight 4% dip over the past week. This shows that XLM has maintained its strength and hasn’t been as affected by the wider market corrections, positioning it well for future growth.

As the overall market sentiment shifts from a bearish phase to a bullish one, Stellar (XLM) is poised to capitalize on the renewed optimism. With its consistent performance, strong market presence, and growing investor interest, XLM is well-positioned to reach new price targets. Analysts believe the token could see substantial growth in the coming weeks, especially as the market continues its bullish trend.

At the time of writing, Stellar’s price stands at $0.421177, with a 24-hour trading volume of $1.10 billion and a market cap of $12.84 billion. Over the past 24 hours, the price of XLM has increased by 4.64%, signaling a positive outlook for the cryptocurrency in the short term.

XLM 1M graph coinmarketcap
Stellar (XLM) Shows Strength Amid Market Shifts, Targeting $1.29 as Bullish Momentum Builds 36

XLM Could Surge to $1.29 as Bullish Momentum Builds

According to crypto analyst Javon Marks, the recent price pullback for XLM could have positioned the token for a major rally. He highlights that XLM now has the strength to push toward the $0.681 target, representing a potential 54% gain. A break above this level could trigger a further surge, with some analysts predicting the price could reach $1.29, marking a nearly 90% increase.

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Stellar (XLM) Shows Strength Amid Market Shifts, Targeting $1.29 as Bullish Momentum Builds 37

Several factors suggest that XLM could see significant gains in the near future. As the crypto market shifts into a bullish phase, Stellar’s strong fundamentals, including its market cap, liquidity, and consistent performance, make it a strong contender for higher price targets. With the right momentum, XLM could follow the market’s upward trend and attract more investor interest, leading to a potential surge in value.

Stellar (XLM) is showing positive signs of growth, maintaining stability during market turbulence and positioning itself for future upside. With a strong performance and a positive market outlook, XLM is poised to capitalize on the upcoming bullish trend, potentially reaching new highs in the near future.

Related Reading | SEC Expedites Approval for Bitwise Bitcoin and Ethereum ETF

Disclaimer:

The information provided on this website is intended for general informational purposes only and does not constitute professional financial advice. Users should conduct their own research and consult with a licensed financial advisor before making any investment decisions. By using this site, you acknowledge and accept that you are solely responsible for your investment choices and any associated risks.