Ethereum's native token, Ether (ETH), gained alongside riskier assets as investors assessed weak U.S. economic data and its potential to cool down rate hike fears. Ether mirrors risk-on recovery ETH's price climbed up to 8.31% on June 24 to $1,225, six days after falling below $880, its lowest level since January 2021. Overall, the upside retracement brought bulls 40% in gains, raising anticipation about an extended recovery in the future while alleviating fears of a "clean fakeout." For instance, independent market analyst "PostyXBT" projected ETH's price to close above $1,300 by the end of June. In contrast, analyst "Wolf" feared …

Ripple’s (XRP) ongoing upside retracement risks exhaustion as its price tests a resistance level with a history of triggering a 65% price crash. XRP price rebounds 30% XRP’s price gained nearly 30%, rising to $0.36 on June 24, four days after rebounding from $0.28, its lowest level since January 2021. The token’s retracement rally could extend to $0.41 next, according to its cup-and-handle pattern shown in the chart below. Interestingly, the indicator’s profit target is the same as XRP’s 50-day exponential moving average (50-day EMA; the red wave). Major resistance hurdle The cup-and-handle bullish reversal setup tends to meet its …

Ethereum's token Ether (ETH) could be entering a "bull trap" zone after rebounding back above the $1,000 mark from 18-month lows of $885. Ether price paints a "rising wedge" The first among these indicators is a "rising wedge," a classic bearish reversal setup that forms after the price trends upward inside a range defined by two ascending but converging trendlines. The wedge setup gains further confirmation if the trading volume drops alongside the rising prices. Theoretically, a rising wedge resolves after the price breaks below its lower trendline and eyes a run-down toward the level at length equal to the …

Polygon (MATIC) took a break from its prevailing bearish course, posting one of the sharpest rebounds in the crypto market this week. Notably, MATIC's price has risen to $0.50 this June 23, four days after hitting $0.317, its lowest level since April 2021. This amounts to roughly a 60% gain, surpassing the performances of even Bitcoin (BTC) and Ether (ETH) in the same timeframe. Nevertheless, MATIC is still down significantly from its December 2021 high of $2.92, coinciding with the overall crypto bear market and a hawkish Fed putting pressure on risk-on assets. MATIC "in a pretty big accumulation" Meanwhile, …

Bitcoin (BTC) was a response to the 2008 global recession. It introduced a new way to transact without depending on the trust of third parties, such as banks, particularly failing banks that were nevertheless bailed out by the government at the expense of the public. "The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust," Satoshi Nakamoto wrote in 2009. Bitcoin's genesis block sums up the intent with the following embedded message: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks." But while Bitcoin …

Avalanche (AVAX) is down 45% in 30 days and in the same time the cryptocurrencies total market capitalization shrank by 29%. Despite the recent downturn, this decentralized application (DApp) platform remains a top contender in the layer-1 and layer-2 race and it ranks high in terms of smart contract deposits and active addresses. Yet, the lackluster token price is still causing investors to rethink whether the network remains a “serious” competitor. The brutal sell-off on risk assets caused AVAX to test the $14.80 support multiple times, while the current market capitalization stands at $4.8 billion. It’s important also to note …

There is good reason to be afraid. Previous down markets have seen declines in excess of 80%. While tightfisted hodling might hold wisdom among many Bitcoin (BTC) maximalists, speculators in altcoins know that diamond handing can mean near (or total) annihilation. Regardless of one’s investment philosophy, in risk-off environments, participation flees the space with haste. The purest among us might see a silver lining as the devastation clears the forest floor of weeds, leaving room for the strongest projects to flourish. Though, doubtlessly, there are many saplings lost who would grow to great heights themselves if they had a chance. …

The price of CEL, the native token of Celsius Network, has almost quadrupled since June 19 in what appears to be a frenzy stirred up by day traders. CEL price short squeeze CEL's price rose from $0.67 on June 19 to $1.59 on June 21, a 180% spike compared to the crypto market's 12.37% rise in the same period. Notably, the rally started after PlanC, an independent market analyst, announced a $20 million bounty for anyone who could prove that the Celsius Network suffered a coordinated attack at the hands of a third party, which prompted the crypto lending firm …

Bitcoin's (BTC) month-to-date chart is very bearish, and the sub-$18,000 level seen over the weekend was the lowest price seen since December 2020. Bulls' current hope depends on turning $20,000 to support, but derivatives metrics tell a completely different story as professional traders are still extremely skeptical. It’s important to remember that the S&P 500 index dropped 11% in June, and even multi-billion dollar companies like Netflix, PayPal and Caesars Entertainment have corrected with 71%, 61% and 57% losses, respectively. The U.S. Federal Open Market Committee raised its benchmark interest rate by 75 basis points on June 15, and Federal …

Canada's Purpose Bitcoin ETF (BTCC) witnessed its Bitcoin (BTC) holdings slashed by half in just one day, suggesting an alarmingly waning buying sentiment among the crypto's most-experienced investors. Purpose Bitcoin ETF has 51% of AUM slashed The fund's holdings dropped from $47,818 BTC to 23,307 BTC between June 16 and 17, its lowest level since October 2021. The 51% drop in BTC holding is also the biggest daily outflow ever. Interestingly, another Canadian crypto fund, dubbed 3iQ CoinShares Bitcoin ETF, witnessed similar outflows, dropping from 23,917 BTC on June 1 to 12,668 BTC on June 17, suggesting the Purpose's massive …

Ethereum's native token, Ether (ETH), underwent a sharp relief rally after falling to $880, its lowest level in eighteen months, on June 18. ETH price regains 30% in two days Ether's price reached above $1,150 this June 19, marking 30%-plus gains in just two days. However, at the beginning of the new weekly session this June 20, the ETH/USD pair hinted at giving up its weekend gains, with its price plunging by almost 9% from the $1,150 high. PostyXBT, an independent market analyst, told his 79,800 followers to be careful about the latest ETH price rally, noting that the move …

The price of Ethereum’s native token Ether (ETH) careened below $1,000 on June 18 as the ongoing sell-off in the crypto market continued into the weekend. Ether reached $975, its lowest level since January 2021, losing 80% of its value from its record high in November 2021. The decline appeared amid concerns about the Federal Reserve’s 75 basis points rate hike, a move that pushed both cryptocurrencies and stocks into a strong bear market. “The Federal Reserve has barely started raising rates, and for the record, they haven't sold anything on their balance sheet either,” noted Nick, an analyst at …