Exchange tokens rally ahead of next week’s long-awaited Coinbase IPO

Centralized cryptocurrency exchanges (CEX) have received increased attention over the past couple of months as excitement builds over Coinbase’s April 14 NASDAQ listing and the exchange’s recent announcement that it pulled in $1.8 billion in revenue during the first quarter of 2021.  Even as decentralized finance (DeFi) and popular decentralized exchanges (DEX) like Uniswap (UNI) and PancakeSwap (CAKE) attracted investors, high transaction costs and low liquidity on separate blockchain networks means that many crypto traders stick with CEXs for lower trading costs and the sense of security they offer.  While Bitcoin,…

1inch, Celsius (CEL) and PancakeSwap (CAKE) rally as traders return to DeFi

Bitcoin’s (BTC) range-bound action since its breakdown at the $61,000 level has confused analysts. Some are projecting that a sharper correction could be in development while others remain steadfast in their belief that the uptrend will resume shortly. According to data from Ecoinometrics, history suggests that Bitcoin price breaks out between 300 and 350 days following a supply halving. Currently, 329 days have passed since the latest halving, and if history repeats itself Bitcoin could soon witness a breakout. Crypto market data daily view. Source: Coin360 An encouraging sign from this most…

Celer (CELR), Cartesi (CTSI) and Compound (COMP) rally as DeFi heats up

Bitcoin bulls are still struggling to push the price to a new high but the positive sign is that BTC has not corrected sharply in the past few days and the top-ranked cryptocurrency has held a market capitalization above $1 trillion since March 26.  While many are wondering what Bitcoin’s next move will be, a Bloomberg Intelligence report by senior commodity strategist Mike McGlone projects that BTC will rally to $80,000 in the second quarter rather than slump to the $40,000 level. Crypto market data daily view. Source: Coin360 Bitcoin’s consolidation has not held…

What’s behind the new rally?

The price of XRP has surpassed $1 on Tuesday for the first time since March 2018, putting its market valuation at around $47 billion. Moreover, the fourth-largest cryptocurrency in the global market has broken out against the Bitcoin (BTC) pair, causing it to see significant technical momentum.  XRP/BTC 1-month price chart (Bitstamp). Source: TradingView.com Mostly a technical rally, not too many fundamentals When XRP was hovering at around $0.75, cryptocurrency traders noted that XRP’s market structure was bullish. Cantering Clark, a cryptocurrency derivatives trader, said that XRP has all the…

Whale clusters suggest that this key Bitcoin level can trigger an explosive rally

The price of Bitcoin (BTC) is attempting to break the $60,000 resistance level after more than a week of ranging. Whale clusters show that $57,046 and $60,045 are the crucial support and resistance areas in the short term.  In other words, the probability of a strong breakout in the foreseeable future would increase substantially if Bitcoin stays above $57,046 and continues to test $60,000 resistance. Why whale clusters are important for Bitcoin Whale clusters form when high-net-worth investors buy or sell Bitcoin at a certain price and do not move…

WHALE and RALLY dominate social token scene with $240m market cap

Two social tokens are shining brighter than the rest with a combined market capitalization of $240 million. Research compiled by crypto data aggregator Messari has revealed the WHALE token is the most valuable social token with a market capitalization of $136 million. RALLY is a close second with a $104 million market cap, meaning the pair represent $240 million combined. Whale is currently the most valuable social token by marketcap at $136mm + $RALLY is a close second + $MORK a distant third pic.twitter.com/qi08Rx1HYD — Messari (@MessariCrypto) April 5, 2021…

Ethereum Sets New ATH, Why ETH Could Rally Above $2,200

Ethereum extended its rally and traded to a new all-time high at $2,150 against the US Dollar. ETH price is now consolidating gains and it is likely to rally above $2,200. Ethereum is trading nicely in a bullish zone above the $2,050 support. The price is now well above the $2,100 support and the 100 hourly simple moving average. There is a short-term rising channel forming with support near $2,100 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher above the $2,150…

Ethereum Holds Strong Above $2K, Why Rally Isn’t Over Yet

Ethereum traded to a new all-time high at $2,140 before correcting lower against the US Dollar. ETH price is now holding gains above the $2,000 support zone. Ethereum is showing a lot of positive signs above the $2,000 support zone. The price is now well above the $2,000 support and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $2,075 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to start a fresh increase as long as…

Why Bitcoin Price Could Restart Rally Unless It Dives Below $56.5K

Bitcoin price is correcting gains from $60,000 against the US Dollar. BTC is likely to start a fresh increase as long as there is no close below $56,500 and $55,250. Bitcoin gained bullish momentum above $58,000, but it failed to settle above $60,000. The price is now trading above the $56,500 support and the 100 simple moving average (4-hours). There is a key bullish trend line forming with support near $56,800 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase…

Ethereum Back Above $2,000 as Market Rally Continues 

Share this article Ethereum has hit $2,000 for the second time in its history. Ethereum’s Price Rally  After a week of green candles for Ethereum, the second-ranked cryptocurrency is trading back above $2,000.  Source: TradingView ETH first crossed $2,000 on Feb. 20 after weeks of upward movement. The high didn’t last long, though: it was trading just above $1,300 by the end of the month. Demand for the asset has increased in recent weeks as the crypto bull run picks up steam. It’s up 26% in the last week, while…