Terra (LUNA) price slid on April 11 as a broader correction across crypto assets added to the uncertainties concerning its token burning mechanism. Bitcoin (BTC) and Ether (ETH) led to a decline in the rest of the cryptocurrency market, with LUNA's price dropping by over 8% to nearly $91.50, and about 30% from its record high of $120, set on April 6. The overall drop tailed similar moves in the U.S. stock market after the Federal Reserve last week signaled its intentions to raise interest rates and shrink balance sheets sharply to curb rising inflation. Arthur Hayes, the co-founder of …

Axie Infinity (AXS) price has fallen by nearly 30% two weeks after losing $625 million to a hacking incident involving its play-to-earn gaming platform's underlying blockchain, the Ronin Network. AXS/USD dropped to $46.69 on Monday, its lowest level since March 16, signaling a dampening buying sentiment among traders and investors following the hacking incident. Independent market analyst TJ asserted that there is "no sign of buyers" even with the price entering areas with a history of attracting accumulators. For instance, AXS broke below the demand zone that TJ highlighted as a potential inflection point during the weekend, a move that …

Privacy-focused cryptocurrency Monero (XMR) rallied by nearly 9.5% in the past week compared with the crypto market's decline of 8.5% in the same period. What's more, the XMR/USD pair has broken above a strong, multi-month resistance trendline, hinting at more upside ahead. XMR price action XMR's price was down by a modest 0.87% on April 10 from its two-month-high of $245 established a day before. However, the cryptocurrency still outperformed its top rivals, including Bitcoin (BTC) and Ether (ETH), on a weekly timeframe. Speculations about entities using Monero to bypass sanctions could have boosted its appeal among investors. Meanwhile, The …

Solana (SOL) risks crashing 35% in the coming days as it comes closer to painting a so-called "megaphone" pattern. SOL price "megaphone" pattern In detail, megaphone setups consist of a minimum of lower lows and two higher highs and form during a period of high market volatility. But generally, these patterns consist of five consecutive swings, with the final one typically acting as a breakout signal. SOL has been sketching a similar pattern since the beginning of 2022, with the coin undergoing a pullback after testing the megaphone's upper trendline near $140 as resistance — the fourth wing. As a …

Near Protocol (NEAR) has rallied by almost 30% after announcing on April 6 that it had raised $350 million in a funding round led by Tiger Global, a New York-based hedge fund. NEAR price eyes 100% price rally NEAR's price reached over $19.75, just about 2.5% below its all-time high. However, many analysts agreed with the potential for the NEAR/USD pair to reclaim its best level to date, and even rise above it in the coming weeks. Adoption remained the key focus behind the bullish predictions. For instance, Zoran Cole, the founder of the popular Telegram group Crypto Insiders highlighted …

The U.S. dollar's ability to continue its rally in Q2 could prove fatal for Bitcoin (BTC), which has demonstrated inverse correlation with the dollar since January 2022. Dollar paints "bull flag" The U.S. dollar index (DXY), which measures the greenback's strength against a basket of foreign currencies, reached its 21-month trading high of 99.82 on April 7, the highest level since May 2020. The index now looks poised to continue its upside move further as it breaks out of a classic bullish continuation pattern — called a "bull flag." In detail, bull flags appear when the price consolidates lower inside …

Scott Melker, veteran trader and pocaster, is convinced that major layer-1 protocols should be part of everyone’s investment portfolio. Instead of picking individual crypto projects, such as NFTs or blockchain games, Melker thinks it makes more sense to bet on the blockchain infrastructure on which these projects are built. “Any of these small projects could absolutely go nuts. But you're going to have trouble choosing what they are. You should just own the layer-1 and the infrastructure that they're all built on”, he said in an exclusive interview with Cointelegraph. “You may not own a Bored Ape, but Ethereum holders …

Waves (WAVES) lost around half its value in April so far and risks further correction due to weakening technical and fundamental factors. WAVES price risks another 30% decline WAVES dropped from nearly $64 on March 31 to around $27.50 on April 7 — down by over 55%. As it fell, the WAVES/USD pair also broke below a key support confluence, hinting further correction. Notably, the confluence comprises WAVES' 50-day exponential moving average (50-day EMA; the red wave) and the 61.8% Fib line of the Fibonacci retracement graph — drawn from $64-swing high to $8.34-swing low. Now broken, they suggest that …

Some analysts believe the four-year market cycle is changing and that the halving schedule may no longer determine cyclical conditions as Bitcoin closes in on the mid point between halvings. The halving is when the amount of Bitcoin (BTC) rewards issued per new block mined is reduced by half. The next halving will happen around May 5, 2024, andl reduce block rewards to 3.125 BTC. According to author @Alerzio on the Santiment blog on April 4, “the important resistance on the way is $50K.” The blog stated that breaking this level by or around the next mid-halving on April 11 …

Bitcoin (BTC) has been struggling to break the $47,000 resistance and even with today’s drop below $44,000 there is still mounting evidence that the market structure is healthy. On Dec. 3, 2021, Bitcoin initiated a 25.6% correction that lasted 18 hours and culminated with a $42,360 low. Four months later, the price remained 18% below the $56,650 closing on Dec. 2, 2021. Much has changed over that period, and hard evidence comes from other sections of the sector. Between February 15 and April 2, 2022, enterprise software development firm, MicroStrategy, announced the acquisition of 4,197 Bitcoin . Inflows to Canadian …

Three market catalysts suggest that Ethereum's native token Ether (ETH) is well-positioned to reach $4,000 this month. Google searches for "Ethereum merge" spike Internet users' interest in Ethereum's upcoming network upgrade, dubbed "the Merge," surged substantially in the week ending April 2, Google Trends' data shows. Searches for the keyword "Ethereum Merge" reached a perfect Google Trends score of 100 on a 12-month timeframe with most traffic coming from the U.S., Singapore, Canada, and Australia. Merge, also called ETH 2.0, refers to the Ethereum network's full transition to Proof-of-Stake (PoS) from Proof-of-Work (PoW), a development that had been touted as …

What is it with these sly, funny, but boring looking apes that continue to make headlines? Many collectors argue that it’s less about the image itself and more about the culture, social capital and wealth the community of owners have gained from Bored Ape Yacht Club (BAYC) that give the collection its value. Amassing over $1.42 billion in total volume, the community entrusted that the creators would deliver on its promise for token emission. On March 17, BAYCs utility and governance token, ApeCoin (APE) was made eligible to claim for BAYC and Mutant Ape Yacht Club (MAYC) holders. According to …