The ongoing price boom in the Binance Coin (BNB) market is painting a classic bullish chart pattern with an upside target of $560. Dubbed as Cup and Handle, the pattern appears when the price forms an advance that appears like a U-shaped trend (Cup). That follows up with a formation of a descending channel range (Handle). A breakout above the Handle range typically leads to an upside continuation, with a bullish target at a length equal to the Cup's size. So it appears that BNB has undergone a price trajectory that looks like the Cup and Handle pattern. Furthermore, the …

Ethereum’s native token, Ether (ETH), rallied by more than 15% in the first 12 days of October. But, compared to Bitcoin’s (BTC) 30% gains in the same period, the second-largest cryptocurrency is currently in a downtrend when priced in BTC. So far into October (and the fourth quarter of 2021), the ETH/BTC exchange rate has plunged by over 12%, reaching 0.060215 BTC for the first time in more than two months on Oct. 12. The drop also pushed ETH/BTC below one of its longest-standing support zones, the 200-day exponential moving average (200-day EMA; the orange wave), as shown in the …

Bitcoin (BTC) looks poised to pursue a run-up towards $100,000 as its price breaks out of a classic bullish structure. Dubbed as the Bull Pennant, the setup represents a price consolidation period with converging trendlines that form after a strong move higher. It ultimately prompts the price to break out in the direction of its previous trend to a level typically at length higher by as much as the size of the initial large move. On Bitcoin weekly charts, the cryptocurrency appeared to have been trending inside a similar consolidation structure, with its price fluctuating inside a triangle-like structure following …

Shiba Inu (SHIB) kickstarted its new weekly session in the green as it continued its bullish retracement move from last week’s low of $0.00002058. SHIB’s price logged an intraday high of $0.00002907 on Oct. 11, netting over 40% returns from its ongoing rebound trend. In doing so, the Dogecoin-inspired meme cryptocurrency eyed an extended runup toward its technical resistance level near $0.00002978, as shown in the chart below. Extended rally ahead? The Shiba Inu chart also shows traders’ intention to accumulate SHIB tokens when its price tests the 20-4H exponential moving average (20-4H EMA; the green wave) as support. For …

The run-up in the price of Shiba Inu (SHIB) so far in October has pushed the SHIB token to become the 20th largest digital asset by market capitalization. Shiba Inu's circulating market valuation jumped to $11.08 billion earlier this week and is currently above $10 billion, putting it in the top-20 by market cap for the first time. As a result, the Dogecoin-inspired meme cryptocurrency became more valuable than popular blockchain projects like Stellar (XLM), Polygon (MATIC) and Tron (TRX). The growth in Shiba Inu's valuation came on the heels of a tweet published by Elon Musk. On Oct. 4, …

Ethereum's native token Ether (ETH) is at risk of falling below $3,200 in the coming sessions as its rally comes face-to-face with a strong resistance zone. In detail, the price of Ether swelled by almost 22% on a month-to-date timeframe in the wake of a market-wide price rally. That pushed the second-largest cryptocurrency by market capitalization from under $3,000 to above $3,650 in the first eight days of October, triggering more bullish forecasts. "Six thousand dollars will happen fast; $10,000 is programmed," noted Twitter-based technical chartist Crypto Cactus. David Gokhshtein, CEO of distributed data network PAC Protocol, predicted a $10,000 …

Bitcoin (BTC) derivatives traders on the Chicago Mercantile Exchange (CME) missed out on incredible profits as BTC’s spot price smashed through $55,000 this week. Retail investors reduced their long exposure across the Bitcoin futures and options markets in late September, according to data shared by Ecoinometrics. The amount of open short positions also climbed, indicating that derivative traders anticipated Bitcoin’s price to drop, as shown in the chart below. The data was taken on Sept. 28, when BTC price had fallen below $41,000 on Coinbase — down almost 23% from its month-to-date high near $52,950. The drop surfaced in the …

Bids for Ethereum’s native token, Ether (ETH), could rise to $13,000 in the next two months if history repeats itself. Ether saw a fractal indicator from 2017, consisting of at least four technical patterns that were instrumental in pushing ETH price up by over 7,000%. The same set of bullish indicators have flashed once again in 2021 as Ether trades above $3,350 after rallying over 360% year-to-date. The 2017 Ether fractal, explained In detail, the four technical indicators are the relative strength index (RSI), stochastic RSI, bullish hammer and a Fibonacci retracement level. It started with the bullish hammer’s occurrence …

Ethereum’s native token, Ether (ETH), has the potential to double its market valuation in the coming months, thanks to a confluence of supportive technical and fundamental indicators. Ether's price soared by more than 9% on Oct. 1 to hit nearly $3,300 for the first time in 10 days. Its gains surfaced primarily in the wake of a price rebound across all the top cryptocurrencies, including Bitcoin (BTC), which gained 9.5% to hit $48,000, its highest level in 10 days. Ether-Bitcoin correlation against rising U.S. inflation Oct. 1’s crypto market boom coincided with the release of the United States Commerce Department’s …

Bitcoin (BTC) failed to break the so-called September curse, with its price falling by a little over 7% into the month despite a strong rebound rally right ahead of its close. Nonetheless, Bitcoin looks to be making a comeback in October, a month known for painting aggressive bullish reversals. Bybt data shows that Bitcoin has closed October in profit the majority of the time since 2013 — with a success rate of over 77%. Last year, the cryptocurrency surged by 28% to reach levels above $13,500 after finishing September at around $10,800, following an approximate 7.5% decline. Similarly, Bitcoin climbed …

Bitcoin (BTC) looks to reclaim $45,000 on Oct. 1 as the United States dollar retreated lower after hitting its one-year high. Bitcoin’s tight inverse correlation with the greenback over the past month suggests that a weakening dollar could push BTC’s price even higher in the coming sessions. Dollar drops following labor market shock In detail, the U.S. Dollar Index (DXY), which measures the dollar’s strength against a basket of six foreign currencies, including the euro and sterling, hit 94.50 Thursday for the first time since Sept. 28, 2020. But it retreated on news of rising U.S. jobless claims against the …

Decentralized exchange dYdX's native token DYDX surged by nearly 80% this week as traders assessed its potential against China's recent ban on crypto transactions. The DYDX price hit a new high of $26.50 on the FTX exchange after trading at around $13 a week ago. The China ban was an apparent boost for the dYdX decentralized exchange (DEX) that offers perpetuals, margin and spot trading, as well as lending and borrowing services to its users. Holding DYDX gives owners the right to propose and vote on changes to dYdX's layer 2 protocol. DYDX stakers receive rewards by depositing to the …