Key takeaways

• BTC is down less than 1% as the market remains choppy. 
• The leading cryptocurrency could retest the $87k support level before rallying higher. 

BTC’s price action remains choppy

The cryptocurrency market continues to underperform as BTC and the other leading coins are in the red. Bitcoin has lost 0.7% of its value in the last 24 hours and is now trading around $89,150. 

The broader cryptocurrency market is attempting to stabilize after this week’s sell-off. Bitcoin price started the week on a negative note, closing below key support levels: the 50-day Exponential Moving Average (EMA) at $91,942.

The bulls attempted to defend the $90k psychological level but failed, with Bitcoin retesting the midpoint of a horizontal parallel channel at $87,787 before embarking on a recovery. At the time of writing on Friday, BTC is trading at around $89,175.

Will Bitcoin recover above $91k soon?

If the recovery continues, Bitcoin could extend its rally towards the first major resistance and the 50-day EMA at $91,942.

The Relative Strength Index (RSI) on the 4-hour chart is 39, pointing upward toward the neutral 50 level, indicating fading bearish momentum. For the bullish momentum to be sustained, the RSI must move above the neutral level. 

Despite that, the Moving Average Convergence Divergence (MACD) indicator showed a bearish crossover on Tuesday, suggesting a mild downward pressure.

If the recovery fails and Bitcoin’s daily candle closes below the $87,787 support level, it could extend the fall toward the lower consolidation boundary at $85,569. 

Currently, the market conditions are choppy, with no clear direction in sight. Bitcoin has eliminated most of the gains it accumulated earlier this month, thanks to the trade tensions between the United States and the European Union (EU) regarding Greenland. 

However, while the issue seems to be resolved, Bitcoin’s performance has not significantly improved.

The post Bitcoin price forecast: BTC stays below $90k as recovery signs slow down appeared first on CoinJournal.

Key takeaways 

• PI is down 1.6% in the last 24 hours, reversing some of its Thursday gains.
• The bearish performance comes despite Pi Network announcing a creator event and new updates to support easy Pi payment integration.

PI dips below $0.19 as bearish trend resumes

PI, the native coin of the Pi network, has lost 1.6% of its value in the last 24 hours and is now trading above $0.18. 

The bearish performance comes despite Pi Network announcing plans on Wednesday to boost the ecosystem, including a creator event, integration of the PI payments system into apps built on the network, and extended access to app creation.

The team revealed that the PI payments support is limited to Test-Pi, and new or non-migrated Pioneers can now deploy app iterations by watching ads instead of paying fees.

Furthermore, Pi Network believes that the ad-supported application building on Pi App Studio could reduce the financial burden of creating Pi applications.

In addition to that, retail demand continues to increase despite PI’s price decline over the past few days. Data obtained from PiScan shows that the users have removed 1.17 million PI tokens from CEXs over the past 48 hours.

The removal from central exchanges will decrease selling pressure on PI as the tokens are transferred to long-term wallets. 

PI remains bearish and could dip lower

The PI/USDT 4-hour chart is bearish and efficient as Pi has lost 1.6% of its value in the last 24 hours. PI failed to maintain its rally above the $0.1919 support-turned-resistance level, marked by the October 11 low.

At press time, PI is trading at $0.1839. If the selloff continues, PI could retest the October 10 and January 19 lows at $0.1533 and $0.1502, respectively.

Technical indicators on the 4-hour chart suggest that the bears remain in control. The Relative Strength Index (RSI) is 40, below the neutral 50, while the Moving Average Convergence Divergence (MACD) extends below the signal line.

However, if the bulls regain control and PI closes its daily candle above $0.1919, it could further extend the rally, potentially targeting the December 19 high at $0.2177.

The post PI could slip below $0.17 despite payments update: Check forecast appeared first on CoinJournal.

Key takeaways

• CAKE is up 4.5%, approaching the $2 psychological level.
• The derivatives data back the recovery as funding rates turn positive.

CAKE’S derivatives data support bullish movement

CAKE, the native coin of the Pancakeswap exchange, has added 4.5% to its value in the last 24 hours and is now approaching $2.0.

The rally comes as Coinglass’s OI-Weighted Funding Rate data shows that the number of traders betting that the price of CAKE will slide further is lower than that anticipating a price increase. 

The positive funding rate means that more traders are bullish on CAKE than bearish. The metric flipped positive on Wednesday and currently reads 0.0046%, indicating that longs are paying shorts.

In addition to that, Coinglass’s long-to-short ratio for CAKE reads 1.11 on Thursday, nearing the highest level over a month. The ratio moving above one indicates that more traders are betting on CAKE to rally higher. 

The bullish scenario comes after Pancakeswap announced earlier this week that the community had approved CAKE’s max supply reduction proposal. 

The max supply has been reduced from 450 million to 400 million, and burns consistently outweigh emissions. 

CAKE could rally towards $2.1

The CAKE/USDT 4-hour chart is bearish and efficient despite CAKE adding 4.5% to its value in the last 24 hours. 

CAKE’s price was rejected at the weekly resistance level of $2.13 on Saturday and declined by 10% earlier this week. However, it rebounded on Wednesday and is now approaching the $2.0 maerk once again. 

If CAKE continues its price recovery, it could rally towards the 50-day Exponential Moving Average (EMA) at $2.06.

The Relative Strength Index (RSI) on the 4-hour chart is 46, pointing upward toward the neutral 50 level, indicating fading bearish momentum. For the rally to be sustained, the RSI must move above the neutral level. 

On the flip side, if CAKE’s daily candle closes below the $1.88 support level, it could extend the correction toward the support zone around $1.79.

The post Pancakeswap price forecast: CAKE surges 4% as derivatives data turn bullish appeared first on CoinJournal.

Key takeaways

• Bitcoin is up 1% in the last 24 hours but continues to trade below $90k.
• The performance comes despite Trump’s Davos speech on Wednesday, which ended the imposition of new tariffs on European nations against the US purchase of Greenland.

Bitcoin remains below $90k despite improved risk sentiment

Bitcoin is currently in the green after adding 1% to its value in the last 24 hours, ending its six consecutive days of decline. 

The price recovery comes following strengthened global risk sentiment in response to US President Trump’s U-turn on Greenland at the World Economic Forum in Davos.

On Wednesday, Trump mentioned that he had reached an agreement with the North Atlantic Treaty Organization (NATO) on a framework for a future deal on Greenland. This ended the need to impose new tariffs on European nations.

In addition to that, Trump added that he hopes to sign the bill on crypto soon, as the US Congress continues to work on a crypto market structure bill that was postponed last week by the Senate Banking Committee.

However, the positive news hasn’t affected Bitcoin’s price action as it continues to trade below the $90k threshold. 

Institutional demand for Bitcoin is also on the decline. Data obtained from SoSoValue shows that spot Bitcoin ETFs recorded an outflow of $708.71 million on Wednesday, the third consecutive day of withdrawals and the highest single-day outflow since November 20. 

BTC eyes $93k if the $87k support holds

The BTC/USD 4H chart is bearish and efficient as Bitcoin has lost 7% of its value over the last seven days. 

It is currently trading below the 50-day Exponential Moving Average (EMA) at $92,044 and has lost the $90k psychological level. Bitcoin is trading at $89,900 after retesting the midpoint of a horizontal parallel channel at $87,787 earlier this week. 

If BTC continues its ongoing recovery, it could extend the advance toward the 50-day EMA at $92,044.

The RSI on the 4-hour chart is 40, pointing upward toward the neutral 50 level, indicating fading bearish momentum. However, the RSI must stay above the neutral 50 for the bulls to push the price higher. 

The Moving Average Convergence Divergence (MACD) indicator showed a bearish crossover on Tuesday, indicating downward pressure.

However, if BTC closes the daily candle below the $87,787 support, it could extend the fall toward the next support level at $85,569.

The post BTC stays below $90k despite Trump backing off Greenland tariff threats appeared first on CoinJournal.

Key takeaways

• PI is up 1% in the last 24 hours, signaling a minor recovery after recording a fresh record low of $0.1502 on Monday.
• Selling pressure persists despite the recent slight recovery. 

Market sentiment remains bearish despite PI’s recovery

PI, the native coin of the Pi Network, is up 1% in the last 24 hours and is now trading at $1.91 per coin. The positive performance comes despite the broader cryptocurrency market recording losses in the last few hours.

According to PiScan, the reserves of centralized exchanges have decreased by 4.24 million PI tokens, indicating large withdrawals over the last 24 hours. The decline in exchange reserves reflects strong buying pressure, allowing PI to recover above $0.19.

Will PI hit $0.20 soon?

The PI/USDT 4-hour chart is bearish and efficient despite the coin adding 1% to its value in the last 24 hours. At press time, PI is trading at $0.191, roughly 30% up from Monday’s low at $0.1502. The recovery aligns with the strong buying pressure and could push PI’s price higher in the near term. 

The RSI of 33 means that PI is slowly escaping the oversold region as buyers step in. The MACD lines are still within the negative territory, indicating that the sellers have yet to fully relinquish control. 

If the recovery continues and PI hits the $0.1919 resistance level, it could rally towards the $0.2060 psychological zone. An extended bullish run would allow PI hit the previous weekly high of $0.2116.

However, a daily candle close below $0.1919 could see PI give up some of its recent gains and retest the support levels at $0.1835 and $0.1632 in the near term.

The post PI rebounds above $0.19 despite selling pressure: Check forecast appeared first on CoinJournal.

Key takeaways

• DUSK has dropped below $0.2, losing 35% of its value in the last 24 hours.
• The coin rallied to $0.32 on Monday, up 150% within a week.

DUSK cools down following its recent surge

DUSK, the native coin of the Dusk Network, has dropped below the $0.20 level, losing more than 35% of its value in the last 24 hours. The bearish performance comes after the coin added 150% to its value within seven days, outperforming major cryptocurrencies.

Data obtained from CoinGlass shows that futures OI at exchanges reached a new all-time high of $47.94 million on Monday and steadied around $39 million on Tuesday. 

During that same period, the OI on the Binance exchange has reached $20.54 million, levels not seen since February 2023. The growing OI means new or additional money is entering the market, resulting in DUSK’s price surging higher. 

Santiment data also shows that the DUSK ecosystem’s trading volume reached a new all-time high of $298.43 million on Monday and steadied around $264.16 million on Tuesday. 

On Monday, Dusk announced its partnership with Chainlink to integrate key standards across DuskEVM. The integration will enable cross-chain interoperability for tokenized real-world assets and support real-time, high-integrity data for compliant financial applications, backed by NPEX, a fully regulated Dutch stock exchange.

Will DUSK rally towards $0.33?

The DUSK/USD 4-hour chart remains bullish and efficient despite the 35% pullback within the last 24 hours. It is still trading above the weekly resistance level at $0.17, with the bulls defending this level.

If the bulls regain control and DUSK closes its daily candle above the weekly resistance level, it could extend the rally toward the December high of $0.33.

The Relative Strength Index (RSI) on the 4-hour chart stands at 74, above the overbought threshold, indicating strong bullish momentum. The Moving Average Convergence Divergence (MACD) also showed a bullish crossover.

However, if the correction persists, DUSK could extend the decline toward the 50% price level at $0.18.

The post DUSK dips 35% after surging 150% in seven days: Check forecast appeared first on CoinJournal.

Key takeaways

• Dogecoin is down 7% in the last 24 hours, making it the worst performer among the top 10.
• The leading memecoin could record further losses as technical indicators switch bearish.

Memecoins underperform as the broader market dips

The cryptocurrency market is having a poor start to the week as Bitcoin, Ether, and XRP are all in the red. The biggest losers remain the memecoins, with Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), extending the decline from last week.

Dogecoin has lost 7% of its value in the last 24 hours, making it the worst performer among the top 10 leading cryptocurrencies by market cap. It is currently trading below the crucial moving averages, aiming for the immediate support to enable it rally higher. 

The decline in Dogecoin aligns with the broader market pullback, as Bitcoin (BTC) drops below $93,000 on Monday after a leverage-driven rally failed to hold momentum.

DOGE could dip lower if the selling pressure persists

The DOGE/USD 4-Hour chart is bearish and efficient, thanks to Dogecoin losing 7% of its value in the last 24 hours. 

At press time, DOGE is trading at $0.1275, below the 20-day Exponential Moving Average at $0.1375 and the 50-day EMA at $0.1417, maintaining a bearish setup as both averages slope lower.

The Moving Average Convergence Divergence (MACD) histogram on the 4-hour chart has slipped into negative territory and is expanding, suggesting strengthening bearish momentum. 

The Relative Strength Index (RSI) at 37 reflects an increase in selling pressure and is getting closer to the oversold region. 

If the bulls regain control, DOGE could rally towards the $0.14 level in the near term. However, failure to improve the market sentiment could see DOGE slip below the December 31 low at $0.1161. An extended bearish run could allow the bears to target the October 10 low at $0.09500.

The post Will DOGE slip below $0.11 if selloff continues? Check forecast appeared first on CoinJournal.

Key takeaways

• ETH is down 3% in the last 24 hours and is now trading above $3,200.
• The bearish performance comes amid renewed trade tensions between the U.S. and the EU.

ETH dips below $3,200 on the U.S.-EU trade tensions

Ether, the second-largest cryptocurrency by market cap, is down 3.4% in the last 24 hours and briefly dropped below the $3,200 level. The coin is now trading at $3,205 after slightly recovering from the dip.

The bearish performance comes amid the ongoing trade tensions between the United States and the European Union. President Donald Trump threatened to escalate tariffs, starting at 10% on February 1 and rising to 25% by June, on imports from eight NATO allies (Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland).

The president added that the tariffs will stay in place until Denmark agrees to sell Greenland to the United States. 

Rachael Lucas, crypto analyst at BTC Markets, stated that,

“The latest U.S.-EU trade war headlines have certainly injected fresh volatility into an already uneasy market … adding a layer of geopolitical uncertainty that markets were in no shape to absorb. But while the headlines are loud, they’re not the fundamental driver of the current pullback in crypto.”

ETH eyes the $3,360 resistance level as the market begins recovery

The ETH/USD 4H chart is bearish and efficient after Ether lost more than 3% of its value in the last 24 hours. The technical indicators remain positive, suggesting that ETH could rally higher in the near term.

The RSI of 52 is above the neutral 50, indicating a fading bullish momentum. The MACD lines remain above the neutral zone, signalling that the buyers remain in control.

If the market recovery continues, ETH could rally towards the first major resistance level at $3,360 over the next few hours or days.

However, if the market correction continues, ETH could retest the January 12 swing low of $3,068.

The post Ethereum price forecast: Ether reclaims $3,200 after slipping to $3,170 appeared first on CoinJournal.

Key takeaways

• PUMP is up 1.1% in the last 24 hours, outperforming the broader crypto market.
• The recent rally comes after Pump.fun launched a new callout in the previous feature that lets creators share trending coins on the platform.

Pump.fun’s DEX volume surges as price approaches $0.003

PUMP, the native coin of the Pump.fun DEX is up 1% in the last 24 hours, outperforming the broader crypto market.

The positive performance comes after Pump.fun released a callout feature on Thursday for creators to share listed coins with their followers. This latest development could boost the social interest and trading activity on the platform. 

The release also comes when Pump.fun’s DEX volume is on the rise, hitting $84.34 million a few hours ago. 

In addition to that, derivatives data indicate wavering retail interest in PUMP as capital flow and funding rates see-saw over the last week. According to CoinGlass, PUMP’s Open Interest (OI) is down 2% in the previous 24 hours to $237.69 million, pulled from $250 million twice so far this month.

Furthermore, the OI-weighted funding rate is at -0.0032%, pulling into the negative territory, suggesting that traders are holding more short positions. 

PUMP eyes the $0.0033 psychological level

The PUMP/USD 4H Chart is bullish and efficient as the cryptocurrency has performed excellently since the start of the week. PUMP is trading at $0.0029 after facing rejection in the last two sessions.

The Moving Average Convergence Divergence (MACD) remains above the signal line and in positive territory. The Relative Strength Index (RSI) at 60 rises toward the overbought zone, consistent with this week’s recovery.

If the daily candle closes above $0.003000, it would keep the near-term bias supported and push PUMP’s price towards $0.0033. The next major resistance level stands at $0.004048

However, if the bulls fail and PUMP drops below the 20-day EMA at $0.002577, it could dip further towards the $0.002330 support level.

The post PUMP eyes $0.0033 on release of creator-focused callout feature appeared first on CoinJournal.

Key takeaways

• ETH has maintained its price above $3,300 despite losing less than 1% of its value.
• The leading altcoin could rally higher in the near term amid growing institutional demand.

ETH stays above $3,300 despite market pullback

ETH, the second-largest cryptocurrency by market cap, has lost less than 1% of its value in the last 24 hours and is now trading above $3,300 per coin.

This performance comes despite growing institutional demand for Ethereum products. According to data obtained from SoSoValue, Ether-linked funds saw steady demand. Spot ether ETFs recorded $175 million in net inflows on Wednesday, led by BlackRock’s ETHA and Grayscale products, extending a gradual recovery in flows after a quiet December.

The market pullback was primarily caused by the U.S. Senate Banking Committee (SBC) pushing back on discussing the crypto market-structure bill after Coinbase withdrew support for the latest draft.

The committee Chairman, Tim Scott, announced in an official statement that bipartisan leaders, alongside the crypto and financial sectors, are continuing to work on the draft.

The postponement comes after Coinbase’s CEO, Brian Armstrong, suddenly opposed the way, stating that it is better to have no bill than a bad one. 

Armstrong pointed out that the bill kills stablecoin rewards, erodes the Commodity Futures Trading Commission’s (CFTC) authority, imposes DeFi prohibitions that violate privacy rights, and imposes a de facto ban on tokenized equities.

ETH eyes a breakout to $3,500

The ETH/USD 4-hour chart remains bullish despite the current market pullback. ETH is trading above $3,300 as the bulls defend the support level at $3,288. 

The MACD indicator on the 4-hour chart remains above the signal line, with green histogram bars above the zero line, expanding in support of the bullish thesis.

The RSI of 67 shows that buyers remain in control, with the bulls breaking above the immediate 200-day EMA resistance at $3,339. A daily candle close above this level could see ETH surge towards the resistance zone at $3,447, tested on December 10.

However, failure to overcome this resistance level could see ETH retracing towards the $3,000 psychological region.

The post Ether maintains price above $3,300, eyes breakout to $3,500 appeared first on CoinJournal.

Key takeaways

• XRP has lost its fourth place in the market to BNB after losing 3% of its value in the last 24 hours.
• The coin is struggling to overcome the $2.2 resistance level despite growing ETF demand.

XRP loses fourth place to BNB

XRP, the native coin of the Ripple ecosystem, has lost more than 2% of its value in the last 24 hours and is currently trading at $2.11 per coin. The bearish performance comes despite rising Open Interest (OI) and institutional inflow into XRP ETFs.

According to CoinGlass, XRP’s OI has increased to $4.09 billion on Thursday, up from $3.93 billion on Tuesday. The increase, albeit minor, suggests that investors are beginning to lean more into risk.

If the OI continues to increase, it could see XRP’s price rally higher in the near term and target the nearest resistance level. Despite that, the OI sits below the yearly high of $4.55 billion, recorded on January 6.

Furthermore, interest in XRP spot Exchange Traded Funds (ETFs) continues to build. SoSoValue reports that XRP ETFs gained nearly $11 million in inflow on Wednesday. Since their launch in November, XRP ETFs have recorded just one outflow, totaling nearly $41 million on January 7. The cumulative inflow now stands at $1.25 billion with net assets at $1.54 billion.

Will XRP resume its uptrend soon?

The XRP/USD 4-hour chart is bearish and efficient as Ripple has underperformed over the past few days. The coin is still trading above the key support provided by the 50-day Exponential Moving Average (EMA) at $2.08.

A minor decline in the Relative Strength Index (RSI) to 53 on the 4-hour chart confirms the buildup of downside pressure. If the RSI continues to decline, XRP could retest the $1.90 support level in the near term. 

However, the Moving Average Convergence Divergence (MACD) indicator on the same chart holds above the signal line, which could allow investors to bet on XRP’s price soaring higher. 

If the daily candle closes above the 100-day EMA at $2.21, XRP could extend its rally towards the 200-day EMA ($2.33).

The post XRP rally stalls despite growing ETF inflow: Check forecast appeared first on CoinJournal.

Key takeaways

• Hedera is up 6.5% in the last 24 hours and is now trading above $0.12.
• The coin could rally towards $0.145 amid growing ETF inflow.

ETF inflow boosts HBAR’s sentiment

HBAR, the native coin of the Hedera blockchain, is up 6.5% in the last 24 hours and is now trading at $0.123 per coin. The rally makes it one of the best performers among the top 30 cryptocurrencies by market cap.

The positive performance is fueled by growing institutional demand. According to SoSoValue, Hedera spot ETFs recorded an inflow of $817,770 inflow of Tuesday, marking the third consecutive positive flow since last week. 

If these inflows intensify, HBAR could extend its ongoing price rally. In addition to that, data obtained fromCryptoQuant shows that HBAR’s spot and futures markets have large whale orders, signaling a potential rally ahead.

CoinGlass’s data also shows that HBAR’s long-to-short ratio reads 1.06 on Wednesday, the highest level in over a month. The ratio crossing one reflects bullish sentiment in the market, with more traders taking long positions over short. 

HBAR could extend gains towards $0.145

The HBAR/USD 4-hour chart is currently bullish after Hedera extended its value above $0.12 earlier this year. At press time, HBAR is nearing the 50-day Exponential Moving Average (EMA) at $0.127.

If the bulls push HBAR’s daily candle to close above the 50-day EMA, it could extend its gains towards the $0.145 resistance level. An extended rally could see HABR retest the upper trendline boundary of the wedge pattern at around $0.152.

The RSI on the 4-hour chart is at 58, above the neutral 50 level, indicating bullish momentum is gaining traction. Moreover, the Moving Average Convergence Divergence (MACD) shows a bullish crossover that remains intact.

On the flip side, if HBAR undergoes a correction, it could extend the decline toward the weekly support level below $0.1

The post HBAR eyes $0.145 as ETF inflows boost sentiment appeared first on CoinJournal.

Key takeaways

• XMR has hit an all-time high price of $716 after adding 4% to its value in the last 24 hours.
• The rally comes as privacy tokens have been recording gains since the start of the year.

XMR continues its rally, hits an ATH of $716

Monero (XMR) continued its excellent start to the year after hitting a new all-time high. The coin has added more than 4% to its value in the last 24 hours to hit an all-time high of $716 a few hours ago.

At press time, XMR has slightly retraced to now trade at $708 per coin. The rally means that XMR has added more than 50% to its value in the last seven days, outperforming other cryptocurrencies in the top 20.

Thanks to the ongoing rally, Monero is now the 12th-largest cryptocurrency, with a market cap close to $13 billion.  

However, crypto analytics platform Santiment has warned investors that the rising FOMO surrounding Monero could be risky. According to Santiment, XMR’s social dominance peaked on Sunday, while development activity has declined.

“If you are looking for an entry point, consider doing so after social hype and FOMO wears off slightly,” Santiment added. 

The coin is currently facing a retracement after hitting the all-time high price. 

XMR could rally higher amid growing FOMO

The XMR/USD 4-hour chart is bullish and efficient thanks to Monero adding 50% to its value in the last seven days. The coin is trading at $708 per coin and could rally higher in the near term. 

The momentum indicators are in the overbought region, which could result in Monero undergoing a correction. 

The Relative Strength Index (RSI) of 84 shows that XMR is overbought, signaling heightened bullish momentum. Overbought conditions in the RSI often lead to a short-term correction, as evidenced by XMR’s recent moves.

The MACD lines are also in the bullish zone, adding more confluence to the market conditions. 

If the rally continues, XMR could hit an all-time high of $750 or more in the near term. However, if the market undergoes a correction, the leading privacy coin could retrace towards the support level at $601.

The post Monero price prediction: XMR hits an all-time high of $716 appeared first on CoinJournal.

Key takeaways

• CHZ is up 7% in the last 24 hours and is now trading above $0.053.
• The cryptocurrency could rally towards the $0.060 level if the bullish trend continues.

CHZ hits $0.054 as bulls take control

CHZ, the native coin of the Chiliz blockchain, is up 7% in the last 24 hours, making it one of the best performers among the top 100 cryptocurrencies by market cap. 

The positive performance comes as Chiliz continues to expand its Fan Token lineup ahead of the 2026 FIFA World Cup.

Chiliz announced via X on Tuesday that Socios has signed a new national football team to launch a Fan Token, following launches for Argentina, Portugal, and Italy, marking the fourth national team. 

This latest development has boosted the demand for CHZ, pushing its market cap above $550 million. 

However, despite the current outlook, CryptoQuant’s summary data supports a bearish forecast for CHZ. The data shows that both spot and futures markets are displaying signs of retail activity and overheating, suggesting a potential correction ahead.

CHZ bulls eye $0.06 amid strong technicals

The CHZ/USD 4-hour chart is bullish but inefficient thanks to its rally in the last 24 hours. At press time, CHZ is trading at $0.0533 after successfully closing above the daily resistance of $0.039 earlier this year. 

CHZ has encountered a slight rejection around the $0.054 level but could overcome it in the near term. If CHZ continues its upward trend, it could extend the rally toward the $0.060 psychological level, with a\ weekly resistance at $0.063, an interesting area for the bulls. 

The Relative Strength Index (RSI) on the 4-hour chart reads 66 and is heading into the overbought region. The Moving Average Convergence Divergence (MACD) also showed a bullish crossover, further supporting the bullish view.

However, if CHZ faces a pullback, it could dip towards the daily resistance-turned support level at $0.039.

The post Chiliz price forecast: CHZ extends rally as bulls eye the $0.06 level appeared first on CoinJournal.

Key takeaways

• XRP is trading above $2.0 after adding 1% to its value in the last 24 hours.
• If the $2.0 psychological level holds, XRP could rally towards the $2.5 psychological region.

XRP is approaching the $2.1 technical area

XRP, the native coin of the Ripple ecosystem, is up 11.5% year-to-date and has maintained its value above $2.0. 

The coin is now up 1% in the last 24 hours and is currently trading at $2.06 per coin. The positive performance comes as the broader cryptocurrency market recovers, with Monero’s XMR leading the charge.

Despite the recent price stagnation, growing institutional demand for spot XRP ETFs supports a bullish performance in the medium to long term. Furthermore, hopes for the Senate passing the Market Structure Bill reaffirm the bullish longer-term price targets. XRP could reclaim the $2.5 or $3.0 psychological levels if the U.S. Senate passes the Market Structure Bill in the coming days or weeks. 

However, the cooling of interest from institutional and retail investors could negatively affect XRP’s performance in the near term.

XRP targets $2.5 as support levels hold

The XRP/USD 4-hour chart remains bearish and efficient despite Ripple adding 11% to its value since the start of the year. However, the structure could shift bullish soon as the crucial support levels hold.

The Moving Average Convergence Divergence (MACD) lines are within the negative territory, indicating a bearish bias. The RS also stands at 43, below the neutral 50, suggesting that the sellers are currently in control.

If the bearish bias persists, XRP could dip below $2.0 and retest the $1.92 support level. An extended bearish run would see the cryptocurrency touch the $1.81 support for the first time since December 31.

However, if the current support level holds, XRP could rally towards the recent resistance level of $2.2. A daily candle closing above this level will bring the $2.5 psychological region into focus.

The post XRP still trading below $2.1, eyes the $2.5 resistance: Check forecast appeared first on CoinJournal.

Key takeaways

• Monero has hit a new all-time high of $596 after outperforming the other major cryptocurrencies.
• XMR is currently the 12th-largest cryptocurrency by market cap.

XMR hits a new all-time high of $596

XMR, the native coin of the Monero blockchain, is the best performer among the top 20 cryptocurrencies by market cap. It is up 15% in the last 24 hours and is currently trading at $573 per coin.

The privacy coin hit an all-time high of $596 during the early hours of Monday, but has slightly retraced due to the poor performance by Bitcoin and other leading cryptocurrencies. 

XMR is up by nearly 35% since the start of the month as the Zcash developers’ crisis boosts capital rotation to Monero. If the coin crosses the $600 mark, it could rally towards a new all-time high of $640 in the near term.

The rally comes as privacy coins record excellent gains thanks to growing retail demand.  Zcash and other privacy-related assets, such as Canton, also advanced, extending gains that began in late December.

XMR could rally towards $700

The XMR/USD 4-hour chart is bullish but inefficient thanks to Monero’s violent upward movement since the start of the year. The technical indicators suggest that the coin could rally higher in the near term. 

The Relative Strength Index (RSI) is at 80, signaling intense overbought conditions with an underlying risk of unsustainable buying pressure. 

Furthermore, the Moving Average Convergence Divergence (MACD) extends the upward trend, suggesting heightened trend momentum.

If the rally continues, XMR could surge towards a new all-time high of $640, with the $700 psychological mark also a possibility in the near term.

However, if the bears regain control of the market, XMR could retest the $569 support level over the next few hours. An extended bearish performance could see XMR gain efficiency on the 4-hour timeframe at $489.

The post Monero price forecast: Is XMR heading towards $700? appeared first on CoinJournal.

Key takeaways

• ETH is trading above $3,100, up by less than 1% in the last 24 hours.
• The coin could rally towards the $3,500 psychological level if the bullish trend resumes.

ETH continues to range above $3k

The cryptocurrency market has had a positive start to the year, with Bitcoin reclaiming the $90k level. Ether is also trading above $3k once again, while XRP has reclaimed its position as the fourth-largest cryptocurrency by market cap.

However, the three leading cryptocurrencies have been ranging over the past few hours, with altcoins recording mixed performances. Bitcoin and Ethereum extend gains for the second consecutive day, crossing above $92,000 and $3,100, respectively, while XRP stabilizes near $2.00.

The technical indicators suggest that the bulls could regain control of the market and push Ether higher. However, with the weekly candle opening today, it would take a few hours before Ether’s direction could become clear to traders.

Ether eyes $3,500 amid a bullish triangle pattern

The ETH/USD 4-hour chart is bearish and efficient as Ether has lost 1.7% of its value in the last seven days. At press time, ETH is trading at $3,113, above the local support trendline connecting the December 18 and 29 lows.

The momentum indicators suggest that the bulls are currently in control of the market. The RSI of 49 shows a fading bearish momentum. If the RSI crosses above the neutral 50, Ether’s price could rally higher in the near term.

The MACD lines are also close to crossing into the positive zone, reinforcing a bullish bias in the market. 

If the bullish trend resumes, Ether could surpass the December 10 high of $3,260, with the next major resistance around the $3,500 psychological level. 

However, if the bearish trend persists, Ether could slip below the $3k level and test the support level around the December 18 low of $2,920.

The post Ether eyes breakout to $3,500: Check forecast appeared first on CoinJournal.

Key takeaways

• CRV is up by less than 1% despite the ongoing market correction.
• The coin could rally towards the $0.5 psychological level as bulls continue to accumulate.

Curve DAO tops $0.40

Curve DAO (CRV) is trading above $0.40 after adding more than 8% to its value in the last 24 hours. It is facing resistance at $0.433 after recording excellent gains in the near term. 

The bullish performance comes amid whale accumulation. According to Santiment’s Supply Distribution data, whales holding between 10 million and 100 million CRV tokens (blue line) have accumulated a total of 33 million CRV tokens from early January to Thursday. 

However, wallets holding between 100,000 and 1 million ADA tokens (red line) and 1 million and 10 million CRV tokens (yellow line) have shed 29 million tokens.

In addition to that, Santiment’s Daily Active Addresses index, which tracks network activity over time, also suggests a bullish bias. An increase in the metric suggests growing blockchain usage.

CRV’s Daily Active Addresses rose from 945 on December 26 to 1388 on Thursday, the highest level since October 14. The surge indicates that demand for Curve DAO’s blockchain usage is increasing, which could benefit CRV’s price. 

CRV could extend gains above $0.5

The CRV/USD 4H chart is bearish and efficient despite the coin’s recent bullish action. CRV retested the weekly resistance level at $0.433 and has now declined to trade at $0.414. 

At press time, CRV is attempting to break above the weekly resistance level. If that happens, CRV could extend the rally toward the November 10 high of $0.548, which coincides with the 200-day EMA.

The Relative Strength Index (RSI) on the 4-hour chart reads 51, above the neutral level of 50, indicating bullish momentum is gaining traction. 

Finally, the Moving Average Convergence Divergence (MACD) indicator shows a bullish crossover, adding further bullish confluence to the coin.

If the market correction persists, CRV could decline towards the new year low of $0.357.

The post CRV eyes $0.5 amid whale accumulation: Check forecast appeared first on CoinJournal.

Key takeaways

• PI is down 1% in the last 24 hours and has now dropped below $0.21.
• The cryptocurrency could record further bearish performance amid market correction.

PI trades at $0.2072 as the market undergoes a correction

PI, the native token of the Pi Network, has lost 1% of its value in the last 24 hours and is now trading at $0,2072 per coin.

The bearish performance comes as centralized exchanges (CEXs) received 1.90 million PI tokens over the last 24 hours, suggesting risk-off sentiment among holders.

According to data obtained from PiScan, over 1.90 million PI tokens were deposited on PI-listed CEXs, adding to the supply pressure. 

Usually, large deposits on centralized exchanges are considered a sell-off move, with investors taking some profits from the market. The inflow of tokens into exchanges could intensify selling pressure on PI in the near term.  

PI could drop below $0.20 amid selling pressure

The PI/USD 4-hour chart is bearish and efficient as the coin has failed to rally in recent days. PI is trading below the 200-day EMA price of $0.2092 after reversing from the 50-day EMA at $0.2166.

The dip suggests renewed supply pressure from the higher EMA. The Relative Strength Index (RSI) has dropped to the neutral level of 50, indicating growing selling pressure and further downside potential.

Furthermore, the Moving Average Convergence Divergence (MACD) is closing in on the bearish zone, suggesting that the bullish momentum is fading. If MACD crosses below the signal line, it would indicate renewed bearish momentum.

If the selloff continues, PU could retest the October 11 and September 22 lows at $0.1996 and $0.1842 over the next few hours or days. 

If Pi Network declines further, the October 11 and September 22 lows at $0.1996 and $0.1842, respectively, could serve as support levels.

However, if the bullish trend resumes, PI could target the 50-day EMA at $0.2166 before rallying towards the December high of $0,2295.

The post PI dips below $0.21 as indicators flash bearish signal appeared first on CoinJournal.

Key takeaways

• ADA is trading at $0.40 after losing 5.5% of its value in the last 24 hours.
• The altcoin could rally towards $0.50 if the bullish trend resumes. 

ADA could slip below $0.40

The cryptocurrency market is undergoing a correction following a strong start to the week. Bitcoin has dropped below $92k, while Ether is trading below $3,100 per coin.

ADA, the native coin of the Cardano blockchain, has lost 5% of its value in the last 24 hours and is now trading above $0.40. However, it could still rally higher in the near term amid strong fundamentals. 

The rally could be fueled by growing Open Interest. According to CoinGlass, ADA’s OI now stands at $796 million, up from the $662 million recorded a week ago. The growing OI hints at the possibility of ADA’s price rallying higher in the near term. 

The confidence encourages retail investors to lean into risk, which contributes to buying pressure.

ADA eyes $0.50 despite market correction

The ADA/USD 4-hour chart remains bullish and efficient despite the recent bearish performance. At press time, ADA has dropped below the 50-day Exponential Moving Average (EMA) of $0.43 and is now trading at $0.403.

Despite that, the coin’s short-term outlook remains bullish, supported by the Moving Average Convergence Divergence (MACD) indicator, which has maintained a positive divergence over the past few days. 

The RSI of 64 also shows buying pressure has resumed, with the coin set to enter the overbought region if the bullish bias remains. 

If the bulls regain control, ADA could rally past the 100-day EMA resistance at $0.505. An extended rally could see ADA challenge the 200-day EMA zone at $0.593.

However, if the correction persists, ADA could retrace below the $0.40 level and retest the $0.3827 support.

The post Cardano price prediction: ADA eyes $0.50 despite market correction appeared first on CoinJournal.