Connect with us

Market

Key Indicators Signal Further Decline

Published

on


Bitcoin (BTC) is currently experiencing increasing bearish pressure, with technical indicators suggesting a potential decline toward the $63,316 mark. This price drop is driven by factors such as weakening momentum and decreasing trading volume.

As Bitcoin targets the $63,316 mark, Investors and analysts are closely monitoring this development, as it may indicate further declines and set the stage for BTC to test lower support levels. This article analyzes Bitcoin’s current price movements and technical indicators signaling a potential further decline for the cryptocurrency focusing on the 4-hour and the 1-day chart.

Bitcoin currently has a market capitalization exceeding $1.3 trillion and a trading volume surpassing $39 billion. As of the time of writing, its price was down by 3.81%, trading around $66,814 over the last 24 hours. During this period, the asset’s market cap has decreased by 3.84%, while its trading volume has surged by 70.25%.

Technical Analysis: Key Bearish Indicators

On the 4-hour chart, the price of BTC looks bearish as it is currently dropping towards the 100-day Simple Moving Average (SMA). It can also be observed here that Bitcoin’s price has printed multiple bearish candlesticks as it approaches the $63,316 support level.

Bitcoin
Source: BTCUSDT on Tradingview.com

The Composite Trend Oscillator on the 4-hour chart further indicates a bearish trend, as both signal lines have fallen below the indicator’s SMA and are heading toward the zero level. If the price continues to decline as the indicator suggests, it could drop below the 100-day SMA, potentially reaching the $63,316 mark.

A closer examination of BTC’s movement on the 1-day chart shows that the failure to break above the 1-day trendline has led to a significant price drop toward the 100-day SMA and the $63,316 support level. This has resulted in Bitcoin successfully printing a bearish candlestick in the previous day’s trading.

Bitcoin
Source: BTCUSDT on Tradingview.com

Additionally, the 1-Day composite trend oscillator indicates a potential bearish decline, as the signal line is currently attempting to cross below the indicator’s SMA. If this crossover is successful, it could lead to further losses for the crypto asset.

Recovery Or Further Decline For Bitcoin?

Should the digital asset’s price fall below the 100-day SMA and the $63,316 mark, it may continue to drop to test the $60,152 support level. When this level is breached, BTC may experience more price drops toward the $53,541 support range and possibly other levels below.

However, given that Bitcoin fails to decline further as predicted and turns to move upward, it will begin to move toward the $71,909 resistance level. It could move even higher to challenge the $73,811 resistance point if it breaks above $71,909 and possibly moves on to create a new all-high.

Bitcoin
BTC trading at $66,651 on the 1D chart | Source: BTCUSDT on Tradingview.com

Featured image from iStock, chart from Tradingview.com



Source link

Market

CoinGecko Refreshes Brand During Crypto Black Monday Chaos

Published

on


CoinGecko unveiled a refreshed brand identity and two new mascots, marking the 11th anniversary of the crypto data aggregator.

The changes come amid a bruising “Crypto Black Monday,” with CoinGecko’s brand revitalization presenting as a show of optimism despite sour sentiment.

CoinGecko Resets Its Brand on 11th Anniversary

CoinGecko leaned into Monday’s turbulence with the message that growth is still on the table despite sour crypto market sentiment. Marking its 11th anniversary, the crypto data aggregator introduced a new visual identity.

CoinGecko Brand Changes
CoinGecko Brand Changes. Source: CoinGecko

The change features a modernized logo, a more interactive and user-friendly design system, and a cohesive brand refresh. These changes extend to GeckoTerminal, its DEX aggregator that tracks real-time trading data from over 1,500 decentralized exchanges.

CoinGecko users will henceforth encounter Gekko and Rex as two new mascots. In a statement shared with BeInCrypto, CoinGecko said these mascots embody the duality of the crypto experience.

On the one hand, Gekko is a playful and geeky friend offering insights. On the other hand, Rex is sharp, analytical, and always on the hunt for alpha.

“This brand refresh marks a new chapter for CoinGecko, as we continue building for the decentralized future,” an excerpt in the statement read, citing TM Lee, CEO and co-founder of CoinGecko.

Lee explained that this refresh was for the crypto community, which has continuously leveraged CoinGecko’s crypto data aggregator across market cycles.  The changes are intended to make CoinGecko more relatable and forward-looking, emulating the industry’s spirit of resilience and innovation.

Refresh in the Face of Crypto Black Monday

This show of optimism comes in time to boost user sentiment after a weekend bloodbath that set the pace for crypto’s black Monday narrative. Liquidations swept the crypto market over the weekend, triggering millions of losses.

The company acknowledged the market stress in a post teasing the launch just hours before the unveiling.

“We know it’s not the easiest day for crypto. Still, something new is on the way,” wrote CoinGecko on X (Twitter).

CoinGecko was founded in April 2014. It has grown from a price-tracking site into a comprehensive crypto data platform serving millions worldwide. The aggregator reportedly monitors over 17,000 cryptocurrencies and NFTs (non-fungible tokens) across over 1,200 exchanges.

Its on-chain analytics platform, GeckoTerminal, launched in 2022, has since become an expansive DEX aggregator. According to the report, GeckoTerminal tracks over 6 million tokens across more than 200 blockchain networks.

Meanwhile, CoinGecko’s brand update is more than cosmetic. It reflects the platform’s consistent effort to stay relatable to its user base.

Recently, it has been a go-to source for key market insights. Among them was a 2025 sentiment survey, which revealed mixed investor moods and highlighted a strong belief in the rise of crypto-AI.

CoinGecko has also been instrumental in reflecting changing user behavior in the industry. Recently, the platform shared a 2024 analysis showing crypto perpetuals trading volumes reaching all-time highs. Similarly, the data aggregator shared a report pointing out that publicly listed crypto companies account for just 5.8% of the market cap.

By launching a branding overhaul during one of the year’s harshest market downturns, CoinGecko sends a clear message that beyond surviving, crypto is also preparing for what is next.

CoinGecko brand changes
CoinGecko brand changes. Source: CoinGecko

As the dust settles from the weekend sell-off and key US economic indicators are in the pipeline, CoinGecko’s refreshed look suggests the next chapter is always around the corner.

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.



Source link

Continue Reading

Market

Bitcoin Price Crashes Hard—Is The Selloff Just Getting Started?

Published

on


Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.


Este artículo también está disponible en español.

Bitcoin price started a fresh decline below the $83,500 zone. BTC is consolidating losses and might start another decline below the $80,000 level.

  • Bitcoin started a fresh decline below the $82,000 zone.
  • The price is trading below $81,200 and the 100 hourly Simple moving average.
  • There was a break below a connecting bullish trend line with support at $83,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could start another increase if it clears the $80,500 zone.

Bitcoin Price Dips Below Support

Bitcoin price failed to settle above the $83,500 level and started a fresh decline. BTC traded below the $83,000 ad $82,000 levels to enter a bearish zone.

There was a break below a connecting bullish trend line with support at $83,000 on the hourly chart of the BTC/USD pair. The pair even dived below the $80,000 support zone. A low was formed at $77,057 and the price started a recovery wave.

There was a move above the $78,800 level. The price climbed above the 23.6% Fib retracement level of the recent decline from the $83,680 swing high to the $77,057 low. However, the price is struggling to continue higher.

Bitcoin price is now trading below $81,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $80,000 level. The first key resistance is near the $80,500 level or the 50% Fib retracement level of the recent decline from the $83,680 swing high to the $77,057 low.

Bitcoin Price
Source: BTCUSD on TradingView.com

The next key resistance could be $81,500. A close above the $81,500 resistance might send the price further higher. In the stated case, the price could rise and test the $82,500 resistance level. Any more gains might send the price toward the $83,500 level.

Another Decline In BTC?

If Bitcoin fails to rise above the $80,500 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $77,500 level. The first major support is near the $77,000 level.

The next support is now near the $76,500 zone. Any more losses might send the price toward the $75,000 support in the near term. The main support sits at $74,200.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $77,500, followed by $77,000.

Major Resistance Levels – $80,000 and $80,500.



Source link

Continue Reading

Market

Will ADA Drop to $0.44?

Published

on


Cardano (ADA) has faced a sharp price decline amid heightened volatility and widespread liquidations across the broader crypto market. Over the past 24 hours, ADA has shed more than 10% of its value, marking one of its steepest single-day losses in recent months. 

ADA is now trading at $0.52, levels last seen in November 2024. This reinforces the growing bearish sentiment against the altcoin.

Death Cross and Heavy Outflows Weigh on ADA

ADA’s downturn in the past day has pushed its price into precarious territory, with a death cross now appearing on its daily chart. This marks the first time the pattern will appear on ADA charts since May 2024. 

ADA Death Cross
ADA Death Cross. Source: TradingView

The death cross pattern—where the 50-day moving average falls below the 200-day moving average—is viewed as a long-term bearish signal, often preceding extended periods of price weakness. 

When a death cross is formed, it indicates a definitive shift in market sentiment from bullish to bearish, leading to increased selling pressure and a possible further decline in price. This suggests ADA could face continued downward pressure in the near term if the bulls remain in the shadows.

Moreover, the steady outflows from the ADA spot markets add to the downward pressure on its price. According to Coinglass, ADA spot outflows have totaled $12 million so far today.

Over the past month, capital exit from the ADA spot markets has exceeded $150 million.

ADA Spot Inflow/Outflow
ADA Spot Inflow/Outflow. Source: Coinglass

Spot outflows like this indicate bearish sentiment, as they suggest that investors are pulling their capital in anticipation of further price drops or moving funds into other assets. 

This persistent trend signals a loss of confidence among ADA traders as they continuously liquidate their positions. This has worsened the market’s selling pressure and contributed significantly to ADA’s price troubles. 

Cardano’s Downward Trend Deepens: Death Cross Threatens More Drop

While broader market instability has impacted many altcoins, ADA’s price drop is notable due to the formation of the Death Cross. The emergence of this technical indicator, combined with a multi-month price low as buying activity falls, suggests ADA could face continued downward pressure in the near term.

In this scenario, its value could dip to $0.44, marking a 14% decline from its current value. 

ADA Price Analysis
ADA Price Analysis. Source: TradingView

On the other hand, a resurgence in new demand for the altcoin will invalidate this bearish outlook. In that scenario, ADA’s price could regain its losses and attempt to break above resistance at $0.54.

If successful, it could extend its gains to $0.64. 

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.



Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io