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BNB Price Finds Footing After Clearing $605 Resistance Toward Higher Targets

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BNB has once again demonstrated its resilience and strength by breaking through the crucial $605 resistance level. This milestone, achieved after weeks of testing and consolidation, has sparked renewed interest among traders and investors. Following the breakout, BNB has entered a phase of price stabilization, comfortably holding above the $605 mark and transforming it into a robust support zone.

This consolidation phase is a classic sign of a healthy market, as it allows the asset to catch its breath after a significant upward move. It also suggests that the breakout was backed by genuine buying pressure rather than short-term speculation. With the $605 level now acting as a springboard, the stage is set for BNB to target higher price levels in the coming days or weeks.

BNB Price Action: Stability Above $605 Signals Strength

BNB’s ability to hold above the $605 resistance level after breaking through reflects growing bullish momentum. Its stability indicates that buyers are defending the breakout level, reinforcing its significance as a new support zone. Sustained trading above this level could pave the way for further gains toward targets near $630 and $650.

Technical indicators reinforce the strength of BNB’s breakout, signaling that bullish momentum remains intact. The MACD continues to trend in positive territory, with the MACD line staying above the signal line. This positioning suggests that buying pressure remains dominant, and the possibility of further gains remains strong. Additionally, the histogram bars are expanding, reflecting increasing bullish momentum.

BNB

Furthermore, the 100-day Simple Moving Average (SMA) acts as dynamic support, with BNB trading above it, which implies that the broader trend remains bullish, and any dips toward this level could present buying opportunities. 

If BNB maintains its momentum, it could target $680, strengthening its bullish outlook. A breakout above the level may attract more buyers, increasing the chances of a sustained rally. Presently, the $680 serves as a key resistance, and clearing it with strong volume is likely to spark a move to $724 in the medium term.

Support Zones To Watch In Case Of A Pullback

If BNB experiences a pullback, the $605 level will be the first key support to watch, as it has flipped from resistance to support. Holding this level could reinforce bullish momentum and signal that buyers are defending the breakout. 

However, if selling pressure increases and $605 fails to hold, the $531 demand zone comes into play, which has historically provided strong support. A rebound from this level would indicate buyer strength, but a break below will expose BNB to more downside before another bullish attempt. An extended correction could bring $500 into focus, which aligns with the 100-day SMA and has previously served as a significant pivot point for price rebounds.

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Coinbase Launches Verified Pools for Retail Users

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Coinbase announced Verified Pools, a new service intended to attract institutional users. These liquidity pools will offer clients a secure way to take advantage of high efficiency and native on-chain infrastructure.

Liquidity pools, in general, offer many of the same advantages, but they do not have sufficient security assurances for major institutions. The exchange hopes to provide security and confidence with proactive measures like KYC and sanctions screening.

What are Coinbase’s Verified Pools?

Coinbase, one of the largest crypto exchanges in the US, has been actively expanding its services under the current pro-regulatory shift.

Today, the exchange announced the introduction of Verified Pools, an institutional-grade service to enhance on-chain trades and swaps.

“Verified Pools is a curated selection of liquidity pools available only with the Coinbase Verifications credential. Verified Pools is the next step in Coinbase’s commitment to advancing the onchain ecosystem and generating the next wave of onchain adoption,” the firm claimed via social media.

Coinbase’s Verified Pools hope to solve an important issue for institutional investors in the crypto space.

Specifically, how can retail users or traditional institutions participate in DeFi despite significant barriers around compliance, counterparty risk, and operational complexity?

Sketchy exchanges and business practices are epidemic in the industry, and these institutions need real assurances.

Through Verified Pools, Coinbase addresses several of these concerns. It ensures that all participants of a liquidity pool are identity-verified using Coinbase’s verification system

The whole platform is powered by Base, Coinbase’s Ethereum-centric L2 blockchain solution. This means that the service is natively on-chain and can benefit from smooth transactions while ensuring security, transparency, and accountability.

Verified Pools offer a few other attractive features for Coinbase’s institutional clients. For example, the pools are non-custodial, allowing users to maintain control over their assets.

In the main, however, the exchange is trying to offer liquidity pools with all their advantages to institutional traders, which is uncommon. The main benefits are inherent to pools in general.

In short, Coinbase’s Verified Pools can offer liquidity, efficiency, and transparency while prioritizing user security and confidence. Moving forward, the exchange plans to expand asset coverage and trading pairs, integrate more DEX aggregators, offer the service in more countries, and more.

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 ConditionsPrivacy Policy, and Disclaimers have been updated.



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Solana Risks Falling to $120 Amid Weak TVL and Whale Activity

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Solana (SOL) has been under pressure, struggling to remain above the $130 mark for the past seven days. Over the last 30 days, SOL has corrected by nearly 36%, reflecting broader market weakness.

The continued decline is being driven by Solana’s Total Value Locked (TVL) and whale activity, which show mixed signals. As SOL trades within a tight range, investors are closely watching key support and resistance levels to gauge where the next major move could unfold.

Solana TVL Struggles Below $9 Billion

Solana’s Total Value Locked (TVL) is $8.57 billion, having remained below the $10 billion mark since February 23.

This recent trend highlights a period of constrained capital flow into the Solana ecosystem, suggesting that investors and protocols are adopting a more cautious stance.

Despite this, Solana continues to retain a significant share of the decentralized finance (DeFi) market, but the sub-$10 billion range reflects broader market sentiment and risk appetite within the ecosystem.

Solana TVL.
Solana TVL. Source: DeFiLlama.

TVL, or Total Value Locked, measures the amount of capital deposited across a blockchain’s DeFi protocols, including lending, staking, liquidity pools, and other smart contract-based applications.

It is a key metric for gauging the health and activity within a blockchain ecosystem, as higher TVL generally reflects strong user participation, liquidity, and developer confidence.

Solana’s TVL reached an all-time high of $14.24 billion on January 18 but has since been in a steady decline, mirroring a more cautious market posture.

While TVL remains relatively low, it has shown signs of stabilization and a slight recovery, bouncing from a recent low of $8.11 billion on March 10 to its current level, signaling a potential shift in market sentiment.

Whales Are Buying SOL Again

The number of Solana whales – addresses holding at least 10,000 SOL – is currently at 5,031, a slight increase from 5,008 just two days ago.

However, this figure remains below the 5,053 level observed on March 3, suggesting that while some accumulation is happening, the whale count has yet to recover from its recent highs fully.

This fluctuation in large holders indicates a market still in transition as key players reassess their positions within the Solana ecosystem.

Solana Whales.
Solana Whales. Source: Glassnode.

Monitoring the number of whales is crucial because these large holders often have the ability to influence the market through significant buying or selling activity.

A rising whale count can signal increased confidence among sophisticated investors, potentially leading to more price stability or upward momentum. With the current whale figure climbing to 5,031, this modest uptick could be an early sign of renewed interest from major players, supporting the idea of gradual accumulation.

However, the number remaining below recent peaks suggests that while sentiment may be improving, some larger investors are still cautious, which could limit immediate upside pressure on SOL’s price.

Can Solana Fall To $112 Soon?

Solana price is currently trading within a range, finding support at $120.76 and facing resistance at $131.

With the market showing signs of a downtrend, there is a risk that SOL could retest the $120.76 support level.

Should this level fail to hold, the price could potentially decline further toward the next key support at $112, signaling a deeper correction within the current bearish momentum.

SOL Price Analysis.
SOL Price Analysis. Source: TradingView.

However, if SOL manages to regain positive momentum, it could challenge the immediate resistance at $131.

A successful breakout above this level could open the door for a move toward $152.9, with a further push to $179.85 if bullish sentiment strengthens significantly.

The current consolidation between $120.76 and $131 will be critical in determining whether SOL continues its downward pressure or transitions into a sustained uptrend.

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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Ethereum Risks Falling To $1,700 as Number of Whales Decline

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Ethereum (ETH) has been struggling, down nearly 30% over the past 30 days as bearish sentiment continues to weigh on the asset. Over the last week, ETH has remained stuck below the $2,000 mark, unable to regain key resistance levels.

While some indicators, like BBTrend, are showing early signs of stabilization, whale activity points to cautious behavior among large investors. As Ethereum trades near critical support zones, the market is watching closely to see if the downtrend will deepen or if bulls can stage a meaningful recovery.

BBTrend Is Now Positive After 6 Days, But Still At Modest Levels

Ethereum’s BBTrend indicator is currently sitting at 0.22, having just turned positive after spending six consecutive days in negative territory.

During that stretch, it reached a negative peak of -17.68 on March 13, reflecting strong bearish momentum.

This shift marks a potential early sign of stabilization for Ethereum. The indicator has crossed back above zero, signaling that sellers may be losing control in the short term, as Ethereum network activity recently hit yearly lows.

ETH BBTrend.
ETH BBTrend. Source: TradingView.

BBTrend, or Bollinger Band Trend, is a momentum-based indicator that measures the strength and direction of a price trend relative to its Bollinger Bands. Readings below 0 typically suggest bearish conditions, while readings above 0 indicate bullish momentum.

Thresholds around -10 or +10 often highlight periods of stronger trend conviction. Ethereum’s BBTrend is now back in positive territory after a prolonged bearish phase, suggesting that downward pressure is easing.

However, at just 0.22, the indicator is still at low levels, signaling that while the sell-off might be cooling, the market has yet to transition into a strong bullish trend fully.

Whales Are Not Accumulating Ethereum

The number of Ethereum whales—wallets holding at least 1,000 ETH—has been steadily declining since February 22, after peaking at 5,828 addresses.

The current number of Ethereum whales stands at 5,752, despite a modest attempt at a rebound in recent days, with Ethereum market dominance hitting its lowest levels since 2020.

This gradual reduction in large holders points to a cautious approach among key players. Some whales are reducing their exposure or taking profits as Ethereum’s price action remains mixed.

ETH Whales.
ETH Whales. Source: Glassnode.

Tracking whale behavior is crucial because these large addresses often act as market movers, capable of influencing price trends through their buying or selling activity.

A steady decline in Ethereum whale numbers may suggest waning confidence or a shift toward risk-off sentiment among institutional or high-net-worth investors.

This downward trend in whale accumulation could limit the strength of any potential rallies, as fewer large players are positioned to provide strong buying support in the short term.

Will Ethereum Fall Below $1,700 In March?

Ethereum has been under pressure, trading below the $2,000 mark for the past seven days. Sellers have kept the asset pinned beneath key resistance levels.

The current support stands at $1,823, and if this level is tested and broken, Ethereum could decline further toward $1,759 and potentially fall below $1,700 for the first time since October 2023, despite some experts defending its future echoes early Amazon and Microsoft.

ETH Price Analysis.
ETH Price Analysis. Source: TradingView.

However, if Ethereum’s price manages to stabilize and build an uptrend, it could challenge the immediate resistance at $1,956.

A breakout above this level may open the path for a rally toward $2,106, with further bullish momentum potentially pushing ETH to retest $2,320 and even $2,546.

A break above $2,500 would mark the first time Ethereum reclaims that level since March 2, signaling a notable shift in market confidence and buyer strength.

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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