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APU, NEIRO Hit New ATHs, CAT Rallies 33%

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The current week marked strong bullish momentum for meme coins and other crypto tokens as major macro events drove Bitcoin to a new all-time high. This unexpected rally fueled impressive growth for several meme coins.

BeInCrypto has analyzed three meme coins that surpassed expectations, delivering significant rallies and reaching new all-time highs.

Apu Apustaja (APU)

APU has gained significant traction this week, with its price climbing by 60% over the past seven days. This strong performance has propelled the meme coin to a new all-time high at $0.00129, marking it as one of the best-performing tokens of the week.

Currently, APU is striving to maintain stability above the critical support level of $0.00098. Holding above this support would enable the meme coin to sustain its upward trend, provided that investors refrain from taking profits. A steady base at this level could further strengthen the coin’s bullish outlook.

APU Price Analysis.
APU Price Analysis. Source: TradingView

However, if APU holders choose to sell, the price may drop below the $0.00098 support level, potentially declining to $0.00074. Such a fall would disrupt the bullish momentum, likely leading to a correction and prompting caution among investors eyeing the meme coin for short-term gains.

First Neiro On Ethereum (NEIRO)

NEIRO has surged by 58% over the past seven days, reaching a new all-time high of $0.00251. This marks the second ATH for the meme coin in a month, reflecting heightened interest and significant buying momentum. NEIRO’s consistent upward trajectory suggests strong investor confidence in its growth potential.

The meme coin appears ready to sustain its bullish trend, supported by broader positive market cues. As long as investors see value in NEIRO, its upward movement could persist. This optimism indicates a favorable environment for further gains.

NEIRO Price Analysis.
NEIRO Price Analysis. Source: TradingView

However, if investors shift to a more cautious outlook, NEIRO may face a price reversal. A drop to $0.00169 would cut into recent gains, signaling increased selling pressure. Falling below this support could invalidate the bullish thesis, prompting investors to reassess their positions in NEIRO.

Simon’s Cat (CAT)

CAT has seen a strong 33% rise over the past week, bringing its trading price to $0.00003697. Though it hasn’t hit a new all-time high, the meme coin is edging closer to its ATH of $0.00004650. This increase highlights the meme coin’s growing interest and potential for further gains.

For CAT to maintain its upward trend, it would need to breach the $0.00004063 level and establish it as a support floor. Doing so could bolster investor confidence and open the path toward its all-time high.

Read More: 11 Top Solana Meme Coins to Watch in November 2024

CAT Price Analysis.
CAT Price Analysis. Source: TradingView

However, if CAT fails to flip $0.00004063 into support, it risks retracing to $0.00003410. Losing this support level could undermine the current bullish outlook and potentially lead to further declines. Such a reversal would prompt caution among investors, reassessing CAT’s potential for short-term gains.

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 ConditionsPrivacy Policy, and Disclaimers have been updated.



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Why SUNDOG Price Surge May Signal a Bull Trap Ahead

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Tron-based meme coin Sundog (SUNDOG) has surged by 8% in the past 24 hours, breaking above a falling wedge pattern it had traded within since September. 

However, BeInCrypto’s analysis of the meme coin’s technical setup indicates that the recent rally could be a false breakout. This assessment dives into the reasons behind it and outlines key signals for SUNDOG holders to watch closely.

SUNDOG’s Surge May Cause a Bull Trap

An assessment of the SUNDOG/USD one-day chart has revealed that the meme coin broke above the upper line of its falling wedge during Thursday’s intraday trading session. This pattern is formed when an asset’s price moves between two descending trend lines, with the upper line acting as resistance and the lower line as support.

A breakout above the wedge’s upper trendline is a bullish move. It suggests buyers are gaining strength over sellers and hints at a sustained price increase. However, a closer look at some of SUNDOG’s momentum indicators suggests that this rally may be a false breakout, potentially setting up a bull trap.

A bull trap occurs when an asset’s price briefly breaks above a key resistance level which would usually signify a positive shift in trend. However, instead of continuing the uptrend, the price falls again, ‘trapping” those who bought in on the bullish signal. 

SUNDOG Falling Wedge.
SUNDOG Falling Wedge. Source: TradingView

The setup of SUNDOG’s Super Trend Line is a notable indicator of this potential bull trap. At press time, the red line of the indicator rests above SUNDOG’s price. 

The Super Trend indicator tracks the overall direction and strength of an asset’s price trend. It appears as a line on the price chart that changes color according to the trend’s direction: green for an uptrend and red for a downtrend. 

When the Super Trend line appears below the asset’s price, it indicates an uptrend, suggesting bullish momentum may persist. On the other hand, when the Super Trend line turns red and appears above an asset’s price, bearish pressure is strong. 

SUNDOG Super Trend Line
SUNDOG Super Trend Line. Source: TradingView

Additionally, the negative readings of SUNDOG’s Balance of Power (BoP) confirm the possibility of a price reversal in the near term. As of this writing, the meme coin’s BoP stands at -0.82 despite its price uptick.

This indicator measures the strength of buyers versus sellers in the market. A negative BoP suggests sellers are in control and attempting to push the asset’s price downward.

SUNDOG Balance of Power
SUNDOG Balance of Power. Source: TradingView

SUNDOG Price Prediction: If Retest Fails…

A combined reading of SUNDOG’s Super Trend and BoP indicators suggests that its breakout above the upper line of the falling wedge may occasion a bull trap when the retest attempt of the resistance line fails due to strong bearish sentiments in the market. 

SUNDOG Price Analysis
SUNDOG Price Analysis. Source: TradingView

At press time, SUNDOG trades at $0.13. A reversal of its uptrend due to strengthening bearish pressure may see its price drop to $0.09, where support lies. However, if the uptrend persists, SUNDOG’s price may rally toward $0.20.

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 ConditionsPrivacy Policy, and Disclaimers have been updated.



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Can Ethereum Whales Protect Recent 20% Rally From Reversal?

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This 20% rise has sparked optimism among investors, but there remains some uncertainty over whether the uptrend will continue without a reversal.

Ethereum Whales Make a Comeback

Ethereum whale activity has increased significantly, showing a resurgence of confidence among large holders. The number of addresses holding over $100,000 worth of ETH has grown by 17%, while those holding over $1 million have risen by 19%. These substantial accumulations by high-value addresses reflect growing confidence in Ethereum’s future price performance, with whales likely anticipating further gains.

Such increased whale participation is often a bullish signal, as large investors are typically seen as market stabilizers, reducing volatility by holding their assets long-term. As these significant holders consolidate their positions, Ethereum’s price stability may improve, adding resilience to the recent rally.

Ethereum Whale Addresses.
Ethereum Whale Addresses. Source: Glassnode

Ethereum’s overall momentum is reaching a crucial point, with technical indicators suggesting a potential reversal. The Relative Strength Index (RSI), a key gauge of overbought or oversold conditions, is close to entering the overbought zone. 

Historically, Ethereum has experienced price reversals after brief spikes into this territory, although it has occasionally sustained prolonged stays without immediate pullbacks. Given current market conditions, a breach of the overbought zone on the RSI could lead to a price correction for Ethereum.

Ethereum RSI
Ethereum RSI. Source: TradingView

ETH Price Prediction: Securing Supports

Ethereum’s price has surged by 20% over the past three days, currently trading at $2,911. The cryptocurrency is attempting to establish the 61.8% Fibonacci Retracement level at $2,899 as a support. Holding this support level would strengthen ETH’s upward momentum, potentially preventing a reversal.

If Ethereum can secure $2,899 as a support floor, a rise to $3,000 and beyond may be possible. This level, often seen as a bull market support, could provide the foundation needed for ETH’s price recovery. Successfully maintaining this position would enhance investor confidence and signal further bullish prospects.

Ethereum Price Analysis
Ethereum Price Analysis. Source: TradingView

However, failure to close above $2,899 could open the door for a potential pullback. Coupled with profit-taking among short-term holders, Ethereum’s price might decline to $2,745. Such a drop would invalidate the bullish thesis and indicate a potential shift toward short-term bearish sentiment among investors.

Ethereum price has seen a strong rally recently, hitting a three-month high after breaking out of a prolonged consolidation range it had been trapped in since August. 

This 20% rise has sparked optimism among investors, but there remains some uncertainty over whether the uptrend will continue without a reversal.

Ethereum Whales Make a Comeback

Ethereum whale activity has increased significantly, showing a resurgence of confidence among large holders. The number of addresses holding over $100,000 worth of ETH has grown by 17%, while those holding over $1 million have risen by 19%. These substantial accumulations by high-value addresses reflect growing confidence in Ethereum’s future price performance, with whales likely anticipating further gains.

Such increased whale participation is often a bullish signal, as large investors are typically seen as market stabilizers, reducing volatility by holding their assets long-term. As these significant holders consolidate their positions, Ethereum’s price stability may improve, adding resilience to the recent rally.

Ethereum Whale Addresses.
Ethereum Whale Addresses. Source: Glassnode

Ethereum’s overall momentum is reaching a crucial point, with technical indicators suggesting a potential reversal. The Relative Strength Index (RSI), a key gauge of overbought or oversold conditions, is close to entering the overbought zone. 

Historically, Ethereum has experienced price reversals after brief spikes into this territory, although it has occasionally sustained prolonged stays without immediate pullbacks. Given current market conditions, a breach of the overbought zone on the RSI could lead to a price correction for Ethereum.

Ethereum RSI
Ethereum RSI. Source: TradingView

ETH Price Prediction: Securing Supports

Ethereum’s price has surged by 20% over the past three days, currently trading at $2,911. The cryptocurrency is attempting to establish the 61.8% Fibonacci Retracement level at $2,899 as a support. Holding this support level would strengthen ETH’s upward momentum, potentially preventing a reversal.

If Ethereum can secure $2,899 as a support floor, a rise to $3,000 and beyond may be possible. This level, often seen as a bull market support, could provide the foundation needed for ETH’s price recovery. Successfully maintaining this position would enhance investor confidence and signal further bullish prospects.

Ethereum Price Analysis
Ethereum Price Analysis. Source: TradingView

However, failure to close above $2,899 could open the door for a potential pullback. Coupled with profit-taking among short-term holders, Ethereum’s price might decline to $2,745. Such a drop would invalidate the bullish thesis and indicate a potential shift toward short-term bearish sentiment among investors.

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 ConditionsPrivacy Policy, and Disclaimers have been updated.



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What Crypto Whales Bought This Week: AAVE, ADA, AVAX

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Investors often monitor the buying patterns of crypto whales, as these large players can heavily influence market prices. The first week of November 2024 has been no exception, with whales funneling substantial funds into several altcoins.

In this analysis, BeInCrypto examines the altcoins that have attracted these significant investments and why whales are buying them. The top three include Aave (AAVE), Cardano (ADA), and Avalanche (AVAX).

Aave (AAVE)

AAVE, the native token of the decentralized lending platform Aave, is among the altcoins that crypto whales have bought this week. This trend is closely linked to Donald Trump’s recent election victory and his launch of a crypto project using the protocol, which has drawn increased interest in AAVE and other DeFi tokens.

Data from IntoTheBlock reveals that Aave’s large holders’ netflow surged by 1,000% over the last seven days, indicating substantial whale accumulation outpacing sales. 

This influx of whales has also positively impacted AAVE’s price, reinforcing the significance of their buying power in the market.

What crypto whales bought
Aave Large Holders Netflow. Source: IntoTheBlock

At press time, AAVE’s price was $182.95, representing a 27% hike in the last 30 days. Should whales continue to buy the token, the price can increase. On the other hand, if these investors opt against that, the altcoin’s value might drop.

Cardano (ADA)

Cardano is also another altcoin that crypto whales bought this week. According to Santiment, the balance of addresses holding between 100 million to 1 billion ADA was 2.83 billion on October 31.

Today, that figure has increased to 2.96 billion, meaning crypto whales bought 130 million ADA this week. At the altcoin’s current price, this amounts to 55.90 million. Due to the purchase, ADA’s price increased by 25.31% in the last seven days and is the performing altcoin out of the top 10 cryptocurrencies.

Should whales continue to accumulate more tokens, ADA’s price might continue to increase. Otherwise, the altcoin’s value might decrease.

Cardano crypto whales
Cardano Balance of Addresses. Source: Santiment

Avalanche (AVAX)

Last on the list of altcoins that crypto whales bought is Avalanche (AVAX). On November 6, AVAX large holders’ netflow was -85,700, indicating that Whales had sold a lot of the altcoin.

But as reports spread that BlacRock could launch its tokenization Fund on the Avalanche blockchain, things changed, and whales began to buy the token. As of this writing, the large holder’s netflow is 533,580, meaning that these stakeholders purchased over $15 million worth of the token.

AVAX crypto whales purchase
Avalanche Large Holders Netflow. Source: IntoTheBlock

This accumulation also impacted AVAX’s price, which saw a 12% hike to $28.2 this week. Thus, if the altcoin continues to see such accumulation, the price can go higher. If not, it could consolidate or trade lower.

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 ConditionsPrivacy Policy, and Disclaimers have been updated.



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