Market
BitWise Files for 10 Crypto Index ETF as SEC Review Begins
BitWise filed an application with the SEC to create an ETF based on its 10 Crypto Index Fund. If approved, this would be the most diversified and extended crypto ETF in the US market.
Earlier this week, BitWise also filed for a Solana ETF with the SEC, following the applications of Canary Capital, VanEck, and 21Shares
BitWise is Looking to Expand its Crypto ETF Offerings
According to the filing, the fund includes Bitcoin, Ethereum, Solana, XRP, Cardano, Avalanche, Chainlink, Bitcoin Cash, Polkadot, and Uniswap. BitWise has maintained this initial fund since 2018, correlating its value with the ten most highly valued cryptocurrencies.
“Remember when I was speculating that ADAs HUGE price movement was from someone purchasing ADA for an ETF? NYSE Arca just submitted a filing to the SEC to launch a Bitwise 10 Crypto Index Fund with Cardano as the fifth largest asset. I imagine Coinbase will follow, first of many,” influencer Big Pey posted on X (formerly Twitter).
BitWise joined the crypto ETF market earlier this year with its Bitcoin ETF (BITB). The firm was among the first ten applicants to file for an ETF with the SEC.
With the filing of this latest application, it seems like BitWise is looking to leverage the growing institutional appeal toward the broader crypto market. The firm also recently filed for an XRP exchange-traded product (ETP) in Europe.
The SEC officially acknowledged this submission, starting a countdown for the Commission to either reject or approve it. However, a deadline for deciding on this application has yet to be confirmed.
Overall, a new friendliness to the crypto industry is sweeping the US financial regulatory apparatus. Under Trump’s administration and a new SEC leader, the industry is likely to see more diverse ETFs being approved.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
XRP Price Retains Strength: Is a New Upside Push Imminent?
XRP price is consolidating near the $1.450 zone. The price is showing positive signs and might soon aim for a fresh move above the $1.50 level.
- XRP price is eyeing a fresh increase above the $1.465 resistance zone.
- The price is now trading above $1.450 and the 100-hourly Simple Moving Average.
- There was a break above a key bearish trend line with resistance at $1.4580 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair might gain momentum if it clears the $1.500 resistance.
XRP Price Holds Gains Above $1.40
XRP price remained supported near the $1.30 zone. It formed a base and recently started an upward move like Bitcoin and like Ethereum. There was a move above the $1.3550 and $1.3750 resistance levels.
There was a break above a key bearish trend line with resistance at $1.4580 on the hourly chart of the XRP/USD pair. The pair was able to clear the $1.50 level. A high was formed at $1.5238 and the price is now consolidating near the 23.6% Fib retracement level of the upward move from the $1.2828 swing low to the $1.5238 high.
The price is now trading above $1.45 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $1.500 level. The first major resistance is near the $1.5250 level.
The next key resistance could be $1.550. A clear move above the $1.550 resistance might send the price toward the $1.5850 resistance. Any more gains might send the price toward the $1.600 resistance or even $1.620 in the near term. The next major hurdle for the bulls might be $1.650 or $1.6550.
Another Decline?
If XRP fails to clear the $1.500 resistance zone, it could start a downside correction. Initial support on the downside is near the $1.4300 level. The next major support is near the $1.40 level or the 50% Fib retracement level of the upward move from the $1.2828 swing low to the $1.5238 high.
If there is a downside break and a close below the $1.40 level, the price might continue to decline toward the $1.3750 support. The next major support sits near the $1.350 zone.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.
Major Support Levels – $1.4300 and $1.4000.
Major Resistance Levels – $1.5000 and $1.5250.
Market
Bittensor (TAO) Price Gains 10%, Establishing Its Dominance
Bittensor (TAO)’s price has risen 10% in the last 24 hours, solidifying its position as the largest artificial intelligence coin by market cap at $4.2 billion. The Ichimoku Cloud, RSI, and EMA lines all point to a strong uptrend.
The RSI at 65 suggests there’s still room for further gains before entering the overbought territory, while the EMA setup supports a potential climb to $625.
TAO Ichimoku Cloud Shows The Uptrend Is Strong
The Ichimoku Cloud chart for TAO shows a bullish trend. The price is trading above the cloud (Senkou Span A and B), indicating upward momentum. The Tenkan-Sen (blue line) and Kijun-Sen (orange line) are also positioned below the price, supporting the bullish sentiment.
The cloud itself has shifted to green, reinforcing mid-term support, while the upward slope suggests continued strength in the uptrend.
However, the price is approaching key resistance levels, and the narrowing gap between the Tenkan-Sen and Kijun-Sen indicates a possible slowdown in momentum. If TAO fails to maintain its position above the Tenkan-Sen, a pullback toward the cloud could occur.
Conversely, a breakout above current levels would confirm the continuation of the bullish trend, with the green cloud acting as a cushion for any potential retracement.
Bittensor Isn’t Overbought Yet
Bittensor RSI has risen to 65 from 49 in the last two days, reflecting strong bullish momentum as the price surges. The RSI, or Relative Strength Index, measures the speed and magnitude of price movements on a scale of 0 to 100.
Values above 70 indicate overbought conditions, suggesting a possible pullback, while values below 30 signal oversold levels, often leading to a recovery. The current RSI shows that while Bittensor is nearing overbought territory, it still has room for further gains before a correction.
Historically, TAO’s price has continued to climb until its RSI reaches 72 or 75, which suggests the current uptrend may have more room to run. If the RSI continues to rise, TAO could extend its rally in the short term.
TAO Price Prediction: Back to $600 Soon?
TAO’s EMA lines are currently very bullish, with short-term lines positioned above long-term ones and the price trading above all of them. This setup indicates strong upward momentum, supported by consistent buying pressure.
If this bullish sentiment continues, TAO price could climb another 8% to test resistance around $625, solidifying its uptrend and TAO’s dominance as the biggest artificial intelligence coin in the market.
However, if the current uptrend loses strength, TAO price may face a retest of key support levels at $510 and $487. Should these supports fail, the price could decline further to $449, marking a significant 22% correction.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Back to $1 Billion Market Cap
Helium (HNT) price is up roughly 150% this year and its market capitalization recently reached the $1 billion market cap. The Chaikin Money Flow (CMF) has turned positive at 0.15, signaling strong buying pressure and supporting recent price gains.
If the golden cross forms as EMA lines suggest, HNT could test resistances at $6.5 and $7.2, but a reversal might lead to support levels at $6 or as low as $5.28.
HNT CMF Is Now Positive
HNT CMF has surged to 0.15 from -0.06 in just one day, signaling a significant shift toward positive buying pressure. The CMF, or Chaikin Money Flow, measures the flow of capital into or out of an asset over a specific period, with values above 0 indicating net inflows (buying dominance) and values below 0 reflecting net outflows (selling pressure).
This sharp rise highlights growing confidence among buyers, supporting HNT’s recent 5% price increase.
A CMF of 0.15 indicates strong bullish sentiment, suggesting that the current uptrend has solid backing from capital inflows. If the CMF continues rising, it could signal further upward momentum for HNT, potentially resulting in additional price gains.
Helium RSI Shows Potential For More Price Increase
Helium RSI has climbed to 58 from 46 in just one day, reflecting growing bullish momentum. The RSI, or Relative Strength Index, measures the speed and magnitude of price changes on a scale from 0 to 100.
Values above 70 signal overbought conditions and a potential for a correction, while values below 30 indicate oversold levels, often leading to a rebound. An RSI of 58 suggests that HNT is in a healthy uptrend without approaching overbought territory yet.
With the RSI still well below 70, HNT’s current uptrend has room to continue before hitting overbought levels. This leaves space for further price growth as buying momentum builds.
If the RSI continues its upward trend, HNT price could see additional gains in the short term, supported by its current bullish sentiment.
HNT Price Prediction: Can HNT Reach $7 Soon?
HNT EMA lines show the potential formation of a golden cross, where a short-term EMA crosses above a long-term EMA. This pattern is a bullish signal, often indicating the start of a sustained uptrend.
If the golden cross forms and momentum continues, Helium price could break through the $6.5 resistance level and potentially climb to $7.2, reinforcing its bullish trajectory and the recent $1 billion market cap milestone. This would also reinforce HNT in the top 10 ranking among DePIN (Decentralized Physical Infrastructure) coins.
However, if the current uptrend weakens and reverses, HNT price may face critical support levels.
The price could first test $6, and if that fails, it might drop to $5.57 or even $5.28.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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