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Can WIF Price Rally Hold $3 Amid Rising Demand?

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Dogwifhat’s (WIF) 50-day Simple Moving Average (SMA) crossed above its 200-day SMA on November 1, forming a golden crossover — a bullish indicator signaling potential upward momentum. Following this technical event, WIF’s price surged by 37%, reaching a five-month high of $3.

With this bullish indicator in effect, the key question is whether WIF can sustain its rally and maintain support above the $3 level.

Dogwifhat Forms Golden Cross

On November 1, WIF’s 50-day SMA (blue line) crossed above its 200-day SMA (yellow line).

The 50-day Simple Moving Average (SMA) tracks an asset’s average price over the last 50 days, highlighting short- to mid-term trends. Conversely, the 200-day SMA reflects the average price over 200 days, serving as a barometer for long-term trends. Typically, when an asset’s price surpasses its 200-day SMA, it suggests a sustained uptrend.

WIF Golden Cross
WIF Golden Cross. Source: TradingView

A “Golden Cross” occurs when the 50-day SMA crosses above the 200-day SMA, indicating that recent momentum is outpacing the long-term trend. This crossover signals a shift from a downtrend to an uptrend, often prompting traders to consider long positions in anticipation of further price gains.

This is true of WIF, whose price has climbed by almost 40% since the formation of the Golden Cross pattern. 

WIF Sees Spike in Demand

Over the past seven days, the value of the dog-themed meme coin has surged by 48%, and BeInCrypto’s assessment of its technical setup confirms that it may extend these gains. For example, its rising Relative Strength Index (RSI) indicates the growing demand for the meme coin. As of this writing, the indicator’s value is 66.99.

The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100, with values above 70 suggesting that the asset is overbought and due for a correction. In contrast, values under 30 indicate that the asset is oversold and may witness a decline.

An RSI reading of 66.99 indicates that the asset is approaching overbought territory but has not yet crossed the overbought threshold of 70. This suggests that buying momentum remains relatively strong and may continue in the short term.

WIF RSI
WIF RSI. Source: TradingView

Moreover, WIF’s price rally is accompanied by a corresponding rise in its open interest. This is at a monthly high of $448 million at press time. 

Open interest refers to the total number of outstanding contracts (futures or options) that have not been settled or closed. As with WIF, when open interest climbs along with price, it typically indicates that new money is entering the market, and the current price movement is supported by an increase in trading activity. This is a bullish signal that hints at a continued rally. 

WIF Open Interest.
WIF Open Interest. Source: Coinglass

WIF Price Prediction: The $3 Price Level Is Key

Currently, Dogwifhat (WIF) is trading at $3.00, hovering just above its long-term resistance at $2.99. If buying pressure persists, this level could turn into a support floor, potentially driving WIF toward $3.41. Breaking past this mark could open the door for a rally to $3.96, which stands as the final hurdle before WIF targets its year-to-date high of $4.86.

WIF Price Analysis.
WIF Price Analysis. Source: TradingView

However, this optimistic scenario could unravel if market sentiment turns bearish. A decline in demand could push WIF’s price down to $2.51.

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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Lawyer Seeks Interpol Red Notice for LIBRA’s Hayden Davis

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The LIBRA meme coin scandal, which sent shockwaves through Argentina’s political and financial spaces, has entered a new phase. Argentine lawyer Gregorio Dalbón has formally requested an international arrest warrant for Hayden Davis, the alleged key figure behind the token’s collapse.

Meanwhile, the Libra price remains steeply declining amid frothing FUD (fear, uncertainty, and doubt), with the broader bearish market outlook exacerbating the losses.

Dalbón, who also represented former Argentine President Cristina Fernández de Kirchner in a corruption case, filed the petition on Tuesday. Local media Página12 reported that other legal experts in the case include lead prosecutor Eduardo Taiano and Judge María Servini.

The request seeks an Interpol Red Notice for Davis. It urges law enforcement worldwide to locate and provisionally arrest him pending extradition from the US. Dalbón’s petition argues that Davis poses a significant flight risk due to his financial resources and foreign residence.

“Given the magnitude of the scandal and the significant losses caused to investors, the procedural risk implied by Hayden Mark Davis remaining free is evident,” Argentina local media Perfil wrote, citing the petition.

Dalbón also contends that Davis played a “central role in creating and promoting LIBRA.” He says this reinforces allegations that the token’s launch and subsequent collapse were orchestrated for insider profit.

The push comes as this scandal deeply implicated President Javier Milei’s administration. This worsened after he publicly promoted the LIBRA token shortly before its catastrophic price crash. The case has sparked major controversy in Argentina, with authorities already moving to freeze approximately $100 million in crypto linked to the scheme earlier this month.

LIBRA Insiders Profited While Investors Lost Millions

Blockchain analysis firm Nansen recently reported that retail investors suffered staggering losses of $251 million. Meanwhile, wallets associated with Davis and another key figure, Kelsier, extracted significant profits before the token’s collapse.

Blockchain investigator Bubblemaps also uncovered evidence of market manipulation. It cited tactics such as “sniping” – using bots to buy tokens early and control liquidity.

Davis admitted to these tactics, claiming they were designed to prevent an immediate collapse and reinvest liquidity once President Milei resumed promoting the token. However, this strategy failed, leaving retail investors with heavy losses while insiders suffered substantial gains.

Further investigations linked the LIBRA meme coin team to other controversial crypto projects. Reports indicate connections between LIBRA insiders and MELANIA. The LIBRA team reportedly discussed launching a similar token with the Nigerian government, raising concerns about repeated exploitative crypto ventures across multiple countries.

The ripple effects of the scandal have also led to significant shake-ups in the crypto industry. Ben Chow, co-founder of the decentralized finance platform Meteora, recently resigned amid the controversy. This highlights the broader impact of the LIBRA debacle on the crypto ecosystem.

If Dalbón’s request for a Red Notice is approved, Interpol will distribute it to its 195 member countries. While a Red Notice does not mandate arrests, it signals to law enforcement agencies worldwide that Davis is wanted for extradition.

LIBRA Price Performance
LIBRA Price Performance. Source: CoinGecko

Data on CoinGecko shows that the LIBRA meme coin was trading for $0.06435 as of this writing, down over 12% in the past 24 hours.

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 (SOL) Faces Many Challenges—Can Bulls Hold the Line?

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Solana started a recovery wave above the $120 resistance zone. SOL price is now consolidating and might struggle to recover above the $132 resistance.

  • SOL price started a fresh decline below the $150 and $140 levels against the US Dollar.
  • The price is now trading below $130 and the 100-hourly simple moving average.
  • There is a short-term rising channel forming with support at $124 on the hourly chart of the SOL/USD pair (data source from Kraken).
  • The pair could start a fresh increase if the bulls clear the $132 zone.

Solana Price Faces Resistance

Solana price struggled to clear the $155 resistance and started a fresh decline, like Bitcoin and Ethereum. SOL declined below the $140 and $132 support levels.

It even dived below the $120 level. The recent low was formed at $114 before the price recovered some losses. It climbed above the $120 and $122 levels. The price surpassed the 23.6% Fib retracement level of the downward move from the $151 swing high to the $114 swing low.

Solana is now trading below $130 and the 100-hourly simple moving average. There is also a short-term rising channel forming with support at $124 on the hourly chart of the SOL/USD pair.

On the upside, the price is facing resistance near the $128 level. The next major resistance is near the $130 level. The main resistance could be $132 and the 50% Fib retracement level of the downward move from the $151 swing high to the $114 swing low.

Solana Price

A successful close above the $132 resistance zone could set the pace for another steady increase. The next key resistance is $140. Any more gains might send the price toward the $150 level.

Another Decline in SOL?

If SOL fails to rise above the $132 resistance, it could start another decline. Initial support on the downside is near the $124 zone. The first major support is near the $120 level.

A break below the $120 level might send the price toward the $114 zone. If there is a close below the $114 support, the price could decline toward the $100 support in the near term.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is losing pace in the bullish zone.

Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is near the 50 level.

Major Support Levels – $124 and $120.

Major Resistance Levels – $128 and $132.



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Hyperliquid (HYPE) Hits 3-Month Lows Despite High Revenue

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Hyperliquid is one of the most profitable platforms in crypto right now, yet its price has been struggling, dropping over 8% in the last 24 hours and more than 24% in the past seven days. Despite its strong fundamentals, bearish momentum has kept HYPE at its lowest levels since December 2024.

However, the network’s rising revenue has outpaced Solana, Ethereum, and Raydium. This suggests underlying strength that could fuel a rebound if market conditions shift. If HYPE breaks resistance at $14.65, it could trigger a rally toward $20 or even $25.87, but failure to reclaim momentum could send it below $12.

Hyperliquid RSI Has Been Neutral Since March 4

Hyperliquid’s RSI (Relative Strength Index) is currently at 32.59, remaining in neutral territory since March 4. Suspicious high-leverage trades are raising money laundering concerns, leading to the ongoing correction.

The RSI is a momentum oscillator that measures the speed and change of price movements on a scale from 0 to 100, with values above 70 indicating overbought conditions and below 30 signaling oversold conditions.

An RSI between 30 and 50 suggests weak momentum, often aligning with a downtrend or consolidation phase.

HYPE RSI.
HYPE RSI. Source: TradingView.

HYPE’s RSI has now stayed below 50 for nine consecutive days, reinforcing the lack of bullish momentum. With the current reading at 32.59, the asset is approaching oversold territory but hasn’t yet reached extreme levels.

This suggests that selling pressure remains dominant, but if RSI turns upward and crosses 50, it could signal the start of a stronger recovery.

Until then, Hyperliquid remains in a weak position, with price action struggling to gain upward traction.

HYPE BBTrend Has Been Negative For One Week

Hyperliquid’s BBTrend is currently at -16.69, remaining negative since March 5 and staying below -10 for the past six days.

BBTrend (Bollinger Band Trend) is an indicator that measures price momentum relative to Bollinger Bands, helping identify bullish or bearish trends.

Values above 10 indicate strong upward momentum, while values below -10 suggest strong downward pressure.

HYPE BBTrend.
HYPE BBTrend. Source: TradingView.

With HYPE BBTrend at -16.69, the bearish trend remains dominant, reinforcing the recent selling pressure.

Staying below -10 for several days suggests that downside momentum has been persistent, limiting any significant recovery attempts.

If the BBTrend starts moving toward 0, it could indicate a weakening downtrend, but for now, Hyperliquid remains in a clearly bearish phase.

Can HYPE Reclaim $20 In March?

Hyperliquid is currently trading at its lowest levels since December 2024, with its EMA lines signaling a strong bearish sentiment.

Short-term EMAs remain well below long-term ones, with large gaps between them indicating strong downside momentum. If the correction continues, HYPE could drop below $12, marking its lowest price in over three months.

HYPE Price Analysis.
HYPE Price Analysis. Source: TradingView.

However, Hyperliquid revenue has surged past $11 million in the last seven days, outperforming major players like Pump, Solana, Ethereum, and Raydium.

If momentum returns, HYPE could test the $14.65 resistance, with a potential rally toward $17 if broken. A stronger uptrend could push the price above $20, potentially testing $21 and even $25.87 in the coming days.

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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