Polygon whales have accumulated an additional $65 million worth of tokens in the past seven days, coinciding with a 12% price increase for the POL token over the last 30 days. This surge has reignited optimism that the altcoin, formerly known as MATIC, might recover some of its recent losses.

However, some investors remain cautious, speculating that the current buying pressure might not suffice to sustain the momentum. Here’s an in-depth analysis of the situation.

Polygon Stakeholders Add 113 Million Tokens to Their Holdings

On November 11, addresses holding between 10 million and 100 million POL tokens in their wallet collectively owned 695.38 million tokens. Today, that figure has surged to 852.14 million, showing that Polygon whales have accumulated over 113 million tokens in the past seven days.

At the current price of the altcoin, this accumulation is valued at approximately $65 million. Typically, when crypto whales buy, it is a sign that a cryptocurrency’s value could climb. This also encourages retail investors to accumulate, putting more upward pressure on the price.

Conversely, when crypto whales sell, it often signifies bearish sentiment, suggesting that the token’s value may struggle to gain momentum. For the POL token, however, the recent whale accumulation is a bullish indicator. If this trend continues, the token’s price could climb above $0.42 in the near term.

Additionally, the increase in whale accumulation aligns with growing bullish dominance, as highlighted by IntoTheBlock’s Bulls and Bears indicator. This metric tracks the activity of investors who bought (bulls) at least 1% of the total trading volume versus those who sold (bears) a similar amount.

When bears outnumber bulls, it often signals potential price declines. However, for the Polygon ecosystem token, the bulls currently outpace the bears, indicating a stronger likelihood of a short-term price increase for the altcoin.

POL Price Prediction: Pattern Turns Bullish

A look at the 4-hour timeframe shows that the POL/USD chart has formed an inverse head-and-shoulders pattern. An inverse head-and-shoulders pattern is a technical pattern that indicates a potential reversal from a downtrend to an uptrend.

The first trough marks the initial phase of the downtrend. The deepest trough is lower than both the left and right shoulders, while the third and final trough mirrors the left shoulder in-depth but is higher than the head.

Considering this current outlook, POL’s price could rise to $0.45 in the short term. If Polygon whales continues to buy in large volumes, this altcoin’s price might climb toward $0.60. 

However, if these crypto whales decide to sell some of their holdings, this prediction might be invalidated. In that case, the Polygon token price could decline to $0.38.

Goatseus Maximus (GOAT) price has surged 34.19% over the past seven days, recently reaching a $1 billion market cap milestone. However, technical indicators suggest the uptrend is losing strength, with the ADX and RSI pointing to fading momentum.

While the EMA lines remain bullish, short-term trends are beginning to decline, signaling a potential shift in market sentiment. GOAT now sits at a critical point where it could either test resistance at $1.36 or face a deeper correction toward key support zones.

The Current Trend Is Losing Steam

GOAT ADX has dropped to 29.77 from 38 over the past few days, indicating a weakening in trend strength. While the value still suggests that the asset is in an uptrend, the decline shows that the momentum behind the current trend is fading.

The ADX, or Average Directional Index, measures the strength of a trend on a scale from 0 to 100. Values above 25 indicate a strong trend, while values below 20 suggest a weak or directionless market.

With GOAT’s ADX now falling closer to the lower threshold, it suggests the current uptrend is losing steam. If the ADX continues to decline further, traders should watch for signs of a potential downtrend or a sideways movement as the market adjusts.

GOAT RSI Shows a Neutral Zone

GOAT is today the biggest coin ever launched on Pumpfun, Solana’s biggest coin launchpad. GOAT’s RSI has dropped to 50.60 from over 70 a few days ago, reflecting a cooling off in bullish momentum. Previously in the overbought territory above 70, the asset was experiencing strong upward pressure.

However, the decline to neutral levels indicates a slowdown in buying activity, suggesting that the recent rally has lost strength and the market is recalibrating.

The RSI, or Relative Strength Index, measures the speed and magnitude of price changes to assess whether an asset is overbought or oversold. Values above 70 indicate overbought conditions and potential for a pullback, while values below 30 signal oversold conditions and possible recovery.

With GOAT’s RSI now at 50.60, it sits at a neutral level, meaning the price lacks strong momentum in either direction.

GOAT Price Prediction: Potential 63% Correction

GOAT’s EMA lines remain bullish, but the short-term lines are beginning to decline, signaling weakening momentum in the uptrend. This aligns with the RSI and ADX, both of which suggest that the bullish trend is losing strength.

If the uptrend regains momentum, GOAT price could target its resistance at $1.36, signaling potential for further gains. However, if the downward pressure intensifies, support levels could be tested at $0.80 and $0.69.

A failure to hold these zones might lead to a deeper correction, potentially reaching $0.41, which would mark a significant 63% decline from current levels, possibly taking out GOAT from the list of top 10 biggest meme coins.

A crypto analyst has noted that XRP has finally broken out of its long consolidation phase, signaling the onset of a major price rally. He further predicts that the XRP price is on the verge of ending an 11-year SuperCycle, which could pave the way for a surge to $3.4 once finalized. 

SuperCycle To Trigger $3.4 Surge 

Skyrexio, a TradingView crypto analyst, has released an XRP price analysis, forecasting a possible increase to $3.4. In the chart analysis, Skyrexio disclosed that XRP has recently broken out of its four-year consolidation period, potentially signaling the start of a bullish uptrend.

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Unsurprisingly, the total duration of the consolidation period coincides with the number of years XRP has been involved in a legal battle with the United States Securities and Exchange Commission (SEC). Following the lawsuit, the XRP price crashed significantly, staying range-bound for years as it struggled with legal and regulatory challenges.

Notably, Skyrexio’s bullish forecast for the XRP price relies on the Elliott Wave Theory, a technical indicator that predicts price movements of an asset by identifying recurrent long-term price patterns. The analyst noted that XRP’s first Elliott Wave began in 2013, almost 11 years ago. After that, the cryptocurrency experienced a price correction, followed by the legendary Wave 3. 

Over the last three years, the price of XRP had been trading sideways, failing to experience gains that would push its price significantly above the $0.5 mark. Skyrexio has revealed that this prolonged sideways movement can be interpreted as a corrective triangle pattern in Wave 4.

The analyst revealed that XRP has successfully broken out of this triangle pattern, signaling the end of its correction phase. He suggests that the cryptocurrency is now in Wave 5, the last wave of its first global SuperCycle.

Based on XRP’s Elliott Wave analysis, Skyrexio has outlined two bullish targets for the XRP price. The analyst forecasts that XRP could rise between $2.5 and $3.8 at the end of this SuperCycle. He emphasized that the higher price target at $3.8 is more likely to be achieved, as historical data shows that in 90% of cases, Wave 5 experiences a higher high than Wave 3.

Concluding his analysis, Skyrexio pointed out key bullish indicators on his price chart, including a bullish reversal bar and green dot at the end of Subway C. He suggested that these bullish signs, appearing on the monthly time frame, are strong indicators of a potential upward move that could drive the XRP price to its final bullish target. 

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Update On XRP Price Dynamics 

The XRP price has achieved a monumental milestone for the first time in years. In just one week, the cryptocurrency rallied by 101.77%, experiencing significant price gains following Donald Trump’s win in the US presidential elections this month. 

Earlier this year, the price of XRP was stuck in the $0.5 range, experiencing slight gains but unable to break past this critical resistance level. Now, the cryptocurrency has doubled its price and is trading above $1, a historic feat that has caught the attention of the broader crypto community. As of writing, XRP has gained another 10.1% and is priced at $1.16, according to CoinMarketCap.

Featured image created with Dall.E, chart from Tradingview.com