Analysis Crypto by Thebittimes.Com

The cryptocurrency market may be stabilizing as Bitcoin (BTC) reclaims the $113000 mark after a slight rally. BTC faced a steep correction over the weekend, falling from the $117000 price level to $111000 earlier today. However, the asset seems to be recovering and entering a consolidation phase. According to CoinCodex data, Bitcoin (BTC) has experienced a 0.3% rally in the daily charts and no change in the 14-day charts. On the other hand, the asset is down 2.4% over the last week and 1.5% over the previous month. Source: CoinGecko Will Bitcoin Continue Its Rally Beyond $113000? Source: TokenPost The recent market dip was likely caused by investor worry around the Federal Reserve’s monetary policy stance. Federal Reserve Chair Jerome Powell is scheduled to deliver a speech later today. Powell’s speech may hold clues for what the Fed has in store for the coming months. Bitcoin (BTC) and the larger crypto market may be taking a step back before making any big movements. There...

A widely followed analyst believes that altcoins may be gearing up for a late 2024-style breakout. The analyst pseudonymously known as Rekt Capital tells his 558,500 followers on X that the OTHERS weekly chart, which tracks the total market cap of crypto excluding the 10 largest digital assets and stablecoins, is looking bullish after reclaiming the $315 billion level as support. “Altcoin market cap has successfully weekly candle closed above $315 billion (red). Thus, altcoin market cap is now positioned for a reclaim that could repeat late 2024 (green circle). A volatile retest into the trendline (light blue) is possible.” Source: Rekt Capital/X The OTHERS chart is hovering around $322.83 billion at time of writing. Next up, the analyst says that Bitcoin may retest the level around $114,000 on the weekly chart before continuing higher. “So far, so good. ~$114,000 is showcasing initial signs of being retested as support. Still early in the wee...

Dogecoin is currently one of the most followed cryptocurrency tokens in the market. The token, however, has lately adopted a slow price pace, moving up on the radar sluggishly. DOGE is yet to witness a striking price momentum, the one that helps the token scale past new price horizons in no time. However, with the altcoin market heating up, here’s how Doge price predictions are shaping the token’s future price trajectory. Also Read: XRP Price Forecast: Stablecoin RLUSD May Unlock the Path to $10 Dogecoin Price Predictions: Doge Is Gaining Momentum Source: Forbes Dogecoin is yet to document a steady price surge, the one that helps it gain an upper hand over its competitors in the market. The token is currently sitting at $0.23, all while waiting for a signal, a price push that compels the token to explore new highs. According to Bitcoin Consensus on X, the Dogecoin price chart is showing a new consistent price ascent, as the token eyes a new high of $1.40 in the process. DOGE’s pri...

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Floki (FLOKI) seems to be making another rebound as the asset rallies more than 85% over the last 30 days. The memecoin is currently up 5.9% in the daily charts and 39.9% in the 14-day charts, according to CoinGecko data. Despite the incredible upswing, the coin is down 5.7% in the weekly charts and 26.3% over the previous year. Source: CoinGecko What’s Behind Floki’s 85% rally? When Will It Hit $0.0002? Source: Captain Inu FLOKI’s rally came amid a market-wide surge. Bitcoin (BTC), XRP, and BNB hit new all-time highs over the last two weeks. The crypto market experienced one of its most significant rallies in recent times earlier this month. The market registered a pullback over the last few days, but has since witnessed a rebound. The rally earlier this month was likely due to pro-crypto legislation being passed in the US and increased inflows into crypto-based ETF products. FLOKI’s rally brought it back into the top 100 projects by market cap. The memecoin sli...

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Bitcoin’s (BTC) ability to mount a parabolic rally may be fading based on its technical indicators, according to a trading expert.   In this line, Analysis by TradingShot suggests that another major rally could be limited by Bitcoin’s position within a well-defined long-term uptrend that has yet to produce the kind of rallies seen in the past cycles.   In a TradingView post on July 9, the analyst noted that since bottoming in November 2022, Bitcoin has traded within an upward channel that closely aligns with a Fibonacci channel guiding price movements since 2013.  Bitcoin price analysis chart. Source: TradingView Despite short-term pullbacks, the overall trend remains intact and is technically targeting a new higher high.  Notably, most of this cycle has occurred in the ‘buy zone’ of the Fibonacci channel. Historically, major rallies have followed breakouts from this zone.  For instance, in the 2017 and...

The Ethereum (ETH) underwent a lot of bashing due to its stagnant price. The asset was seen moving slowly over the past couple of years. The world’s largest altcoin hit an all-time high of $4,891.70 about four years ago. The asset has failed to reclaim this peak ever since. Despite a growth rate of 90313.41% since its launch in 2015, ETH has failed to make big noise. But investors could be in for a treat as the network was recording increased bullish activities. Also Read: PLTR: Palantir Falls 3% on $178M Army AI Deal, BofA Eyes $150 Is Ethereum Kickstarting Its Bullish Phase? Source: Watcher Guru Ethereum emerged as a top performer throughout the past month. The asset surged by a notable 55% during the last 30 days. At the time of writing, ETH was trading at $2,560.16. This comes after a 1.17% rise during the last 24 hours. Source: CoinMarketCap May has been quite eventful for the second-largest cryptocurrency. The Ethereum network witnessed a massive shift in trend. A thread on ...

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