Solana TVL drops $5B in 30 days

The total value locked (TVL) on the Solana blockchain has plummeted 39.2% over the last month, the largest monthly drawdown since November 2022, when the FTX exchange collapsed.

Solana’s TVL has fallen from an all-time high of $12.1 billion reached on Jan. 24 to $7.4 billion at the time of writing. 

TVL measures the total value of all assets locked into decentralized finance (DeFi) protocols. As TVL increases, that means more coins are deposited into DeFi protocols and can indicate bullish sentiment. A falling TVL shows that investors are pulling their funds out of the ecosystem as well as decreasing network activity and liquidity.

Data from DefiLlama shows that the subsequent decrease in TVL was led by Raydium, with a whopping 53% drop in 30 days. Other major decentralized applications such as Jupiter DEX, Jito liquid staking, and Save Lending registered a 25%, 41% and 42% declines, respectively.

These directly impacted Solana’s onchain volumes, which dropped from a weekly collection of $97 billion during the second week of January to $11 billion this week.

These metrics indicate a glaring shift in investors’ trust in the Solana ecosystem, leading to a 20-40% decline in activity on average over the past month.

Solana memecoin market cap plummets 70%

The drop in Solana’s TVL mirrors a drop in memecoin market capitalization as prices tank across the board.

Most Solana-based memecoins have posted double-digit daily losses, as shown in the figure below. A majority of these tokens are 80% to 90% from their peaks. 

As a result, Solana’s collective memecoin market cap has dropped from its peak of $25 billion in December 2024 to $8.3 billion today. This represents a 68% drop in less than three months. 

Related: Solana (SOL) price sell-off accelerates — Will traders defend the $130 support?

This drop in the prices of Solana-based memecoins and market cap is preceded by decreasing DEX activity on the layer-1 blockchain. 

The chart below shows the daily DEX trading volume of Solana memecoins—including those deployed on Pump.fun—decreased from $22.1 billion on Jan. 19 to $1.6 billion on Feb. 26

Memecoin trading volume on Solana. Source: Blockworks Research

The decrease in memecoin activity on Solana indicates low network activity and dwindling usage, negatively impacting demand and SOL price. 

SOL price eyes a further 20% drop

From a technical perspective, SOL’s price action has completed a double-top pattern as shown on the daily chart below. Now, the question is how low can Solana go?

SOL price is sitting on immediate support provided by the neckline of the prevailing chart pattern at $135. Losing this support will see the price drop to sweep the liquidity between the Sept. 6, 2024, range low at $120 and the Aug. 5, 2024, range low of $110. Such a move would represent a 22% decline from the current price.

On the other hand, the position of the RSI at 28 paints oversold conditions. This suggests that $135 could provide a good entry position. Increased demand from this level, accompanied by high volumes, could initiate a sustained recovery for SOL in the coming days. 

Popular crypto analyst Gum believes that the lowest Solana’s price can go “would be around 10% higher than the last price Galaxy and other funds bought the FTX Locked $SOL.”

“This would be about $110 as the minimum before a bounce.”

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

The post Solana TVL drops 40% as SOL price risks further losses to $110 appeared first on Cyber Cryptonomics.

Kraken announced that it would stop trading and deposits for all Monero (XMR) markets in the EEA from Oct. 31, 2024. This includes the trading pairs with United States dollars, euro, Bitcoin (BTC) and Tether’s USDt (USDT). 

Kraken cited regulatory and compliance obligations as the reason for discontinuing support for XMR. The exchange said in a statement: 

“After thorough consideration, and exploration of all viable alternatives, we concluded we have no choice but to delist Monero (XMR) in the European Economic Area (EEA) due to regulatory changes.”

While Kraken will stop trading and deposits for XMR, users have until Dec. 31 to withdraw their tokens. If users do not withdraw their XMR tokens by the deadline, Kraken will convert them into BTC. The converted tokens will be distributed on Jan. 6, 2025. 

New regulations prohibit the use of privacy tokens

The decision follows regulatory developments in the European Union prohibiting crypto asset service providers (CASPs) from using privacy-focused tokens like Monero or providing accounts for anonymous users. 

Earlier this year, Kraken ended XMR trading in Ireland and Belgium. On April 11, the exchange warned its users to close their positions on XMR or have them automatically closed. In 2021, Kraken discontinued support for Monero for customers based in the United Kingdom. 

Other jurisdictions have also cracked down on privacy-focused tokens. In 2018, Japan initiated a ban on anonymity-enhanced tokens. In 2020, South Korea also banned privacy coins from trading platforms, while Australian exchanges began delisting privacy tokens because of new regulations. 

Dubai prohibited all activities related to privacy coins and the issuance of anonymity-enhanced tokens on Feb. 7, 2023. 

Related: Kraken acquires Dutch broker BCM as part of European expansion

Monero token drops 8% after Kraken ceases support

A day after Kraken’s announcement, XMR’s price declined by 8%. Cointelegraph Markets Pro data shows that the token dropped from $154 on Oct. 1 to $141 on Oct. 2. 

While the delisting may have affected Monero’s price, the broader crypto market cap also suffered blows in the past 24 hours, with the overall market cap declining by 6.3%.

Magazine: Web3 Gamer: SocialFi boosts game revenue, Axie Infinity creator wants to ditch  Discord

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The author of the paper outlined several methods of undermining trust in permissionless blockchains including 51% attacks, price suppression, and Sybil attacks — a type of malicious activity in which a single user creates multiple accounts to manipulate a network. The author asserted:

“The users’ confidence in the networks may be significantly undermined by successful attacks on networks which could undermine the trust of the blockchain community in the ability of the network’s protocol to ensure smooth operation.”

However, the paper also argued that these methods should only be used as a “last resort” to combat money laundering after other policy initiatives such as blacklisting wallet addresses, flagging transactions, sanctions, and other regulations have been exhausted.

Ultimately, any approach taken should attempt to balance the need to ensure regulatory compliance under existing laws, promote innovation, and the need to protect individual user privacy, the author concluded.

Although the paper was published in 2021, its findings recently came into sharper focus after several users theorized that some of the same tactics discussed are currently being used to manipulate the price of Monero (XMR) — a privacy-enhancing cryptocurrency named in the academic paper.

Related: Kraken to end Monero support in European Economic Area

Money laundering: just an excuse to impose tighter control?

In 2022, United Nations officials revealed that terrorist organizations predominantly use cash to finance illicit activities — an assertion later corroborated by a report from the United States Treasury, which found that criminal organizations prefer fiat currency to crypto.

Moreover, the May 2024 US Treasury report also admitted that even when digital assets were used for illicit activities, they tended to be used to perpetuate age-old schemes that could have been committed using cash or other asset classes.

Still, this has not stopped the United States government from cracking down on crypto mixers and other privacy-enhancing tools. On Sept. 26, 2024, a US judge ruled that the case against Tornado Cash co-founder Roman Storm could move forward.

The government crackdown on these privacy-enhancing tools has sparked a debate about the viability of these services, as many users ask whether crypto mixers can survive under the current regulatory regime.

Magazine: Terrorism and Israel-Gaza war weaponized to destroy crypto

The post Academic paper suggests governments should attack public blockchains appeared first on Cyber Cryptonomics.

Japanese authorities said they analyzed about 900 of the group’s Monero (XMR)-based money-laundering transactions, which totaled about 100 million yen ($670,000).

Japanese authorities told local media outlet Nikkei that this marked the first time the country’s law enforcement agencies had used Monero transactions to identify criminals.

The criminal group and its suspected leader, Yuta Kobayashi, were arrested for money laundering through the privacy-preserving cryptocurrency Monero and for computer fraud.

The gang of 18 had been under investigation since August, shortly after the formation of the National Police Agency’s Cyber Special Investigation Unit, which was formed in April to tackle Japan’s increasing cybercrime.

Cointelegraph asked Japanese authorities about their analysis of the Monero transactions that led to the arrests, but received no immediate reply.

Related: Ledger users targeted by malicious ‘clear signing’ phishing email

Crypto crimes: a growing issue for law enforcement, not just in cyberspace

While cyberattacks are an issue in the digital space, authorities are also grappling with more physical attacks and violent crimes related to cryptocurrency.

On Aug. 4, a gang of four Chinese nationals broke into a gated estate in Pathum Thani, Thailand, and forced a victim to transfer $2 million worth of cryptocurrency at gunpoint.

In July, four men kidnapped a foreigner in Kyiv, Ukraine, who was known to hold Bitcoin (BTC). The attackers forced the victim to transfer his three Bitcoin to their wallets before strangling him.

$3 billion stolen in hacks — Why are crypto crimes surging? Source: YouTube

This came after a June 17 incident in London, when three armed men used machetes to invade a home, forcing the owner to transfer 1,000 Ether (ETH) worth over $2.5 million. Luckily, the victim suffered no physical harm.

Related: South Korean crypto CEO stabbed in court during Haru Invest fraud trial

Crypto scams steal $19 billion in 13 years

Despite signs of a maturing industry, crypto scams and exploits remain an issue.

Almost $19 billion worth of crypto was stolen in the past 13 years across 785 reported hacks and exploits, according to a Crystal Intelligence report shared with Cointelegraph.

The biggest single crypto theft case remains the 2019 Plus Token fraud, in which attackers netted $2.9 billion worth of Bitcoin and Ether.

Crypto hacks and exploits remain one of the biggest problems impeding mainstream trust and adoption. Crypto hacks in 2024 could potentially top 2023, as the first quarter of 2024 saw $542.7 million worth of stolen funds, a 42% increase compared to the same period in 2023.

Magazine: Fake Rabby Wallet scam linked to Dubai crypto CEO and many more victims

The post Japanese authorities trace Monero, arrest 18 in $670K laundering case appeared first on Cyber Cryptonomics.

Crypto mining firm Blockware Solutions said in a market forecast report viewed by Cointelegraph that Bitcoin’s base case target for 2025 is $225,000. Even the bear case target of $150,000 is higher than the current price. The bull case target is a hefty $400,000.

Along with Bitcoin (BTC), traders also seem to be bullish on Ether (ETH). The United States spot Ether exchange-traded funds (ETFs) witnessed massive inflows of over $2.5 billion in December, nearly double that of November. Asset management firm VanEck has a target of more than $6,000 for Ether in 2025.

What are the critical support levels on Bitcoin that may start a rebound? Let’s look at the charts of the top 5 cryptocurrencies that may outperform in the near term if the sentiment turns bullish.

Bitcoin price analysis

Bitcoin closed below the 50-day simple moving average ($96,124) on Dec. 27, indicating that the bulls were losing their grip.

Buyers tried to push the price back above the 50-day SMA on Dec. 28, but the bears held their ground. The 20-day exponential moving average ($97,257) has started to turn down, and the relative strength index (RSI) is in the negative territory, indicating an advantage to bears.

The BTC/USDT pair could slide to the $90,000 support, where the bulls are expected to mount a strong defense. If the price rebounds off $90,000 and rises above the moving averages, it will signal solid demand at lower levels.

Buyers will have to drive the price above $100,000 to seize control. The pair may then climb to $108,353.

The 4-hour chart is forming a head-and-shoulders pattern, which will complete on a break and close below the neckline. If the price stays below the neckline, the pair could plummet to $85,000 and then to the pattern target of $76,647.

This negative view is likely to be invalidated in the near term if buyers push and maintain the price above $100,000. That could open the doors for a retest of the all-time high at $108,353. If this level is crossed, the pair may jump to $124,206.

BNB price analysis

BNB (BNB) has been oscillating between $635 and $722 for the past few days, indicating a balance between supply and demand.

The bears are defending the $722 level, but a positive sign is that the bulls have not allowed the price to dip below the 20-day EMA ($694). This suggests that the bulls have kept up the pressure and are trying to overcome the barrier at $722. If they succeed, the BNB/USDT pair could pick up momentum and rise to $760 and later to $794.

Contrary to this assumption, if the price turns down sharply and breaks below the moving averages, it will signal that the range-bound action may continue for a few more days. The bears will gain the upper hand on a break below the uptrend line.

The 4-hour chart shows that the bears are defending the $740 level. If the price rebounds off the 20-EMA, the bulls will make one more attempt to push the pair above $740. If they succeed, the pair could rise to $761 and later to $794.

On the contrary, a break and close below the 20-EMA will suggest that the bulls have given up. The bears will gain the upper hand on a break and close below $680. That could sink the pair to $635.

Aave Token price analysis

Aave (AAVE) is witnessing a tough battle between the bulls and the bears near the 20-day EMA ($329).

The upsloping 20-day EMA indicates that bulls have an edge, but the RSI near the midpoint suggests that the momentum is slowing. If the price plunges below the 20-day EMA, the AAVE/USDT pair could drop to $261.

If buyers want to retain the advantage, they will have to swiftly drive the price above $362. If they manage to do that, the pair could retest the overhead resistance at $400. Sellers are expected to mount a strong defense at $400, but if the bulls prevail, the pair may start the next leg of the uptrend toward $450.

The pair has formed a symmetrical triangle on the 4-hour chart, which usually acts as a continuation pattern. The flattish moving averages and the RSI just below the midpoint do not give a clear advantage either to the bulls or the bears.

If the price rises and stays above the moving averages, the pair may rise to the resistance line. A break and close above the triangle would increase the likelihood of the resumption of the uptrend.

Alternatively, the pair may drop to the support line if the price stays below the moving averages.

Related: Here’s what happened in crypto today

Monero price analysis

Monero (XMR) has been attempting to start a recovery for the past few days but is facing stiff resistance at $203.

The 20-day EMA ($193) is flattish, and the RSI is near the midpoint, indicating a balance between buyers and sellers. If the price stays above the 20-day EMA, the prospects of a break above $203 increase. The XMR/USDT pair may rally to $216 and then to $234.

If the price breaks and stays below the 20-day EMA, it will suggest that the pair may spend some more time inside the $180 to $203 range. The bears will be in the driver’s seat if they sink the price below $180.

The pair has formed a bullish ascending triangle pattern on the 4-hour chart, which will complete on a break and close above $203. If that happens, the pair could rally toward its pattern target of $228.

Instead, if the price breaks below the support line, it will invalidate the bullish setup. The failure of a bullish setup is a bearish sign as it traps several aggressive bulls. That could start a downward move to $180.

Virtuals Protocol price analysis

Virtuals Protocol (VIRTUAL) resumed its uptrend after breaking out of the stiff overhead resistance at $3.33 on Dec. 27.

The upsloping 20-day EMA ($2.71) suggests that buyers are in control, but the negative divergence on the RSI signals that the positive momentum may be slowing down. The VIRTUAL/USDT pair may rise to $4 and above it to $4.79.

On the downside, a break and close below $3.33 will be the first sign of weakness. The pair may then drop to the 20-day EMA, which is a crucial level to watch for. If the price rebounds off the 20-day EMA with force, the bulls will again try to resume the uptrend. A break and close below the 20-day EMA could start a deeper correction toward $2.

Both moving averages are sloping up, and the RSI is in positive territory, indicating an advantage to buyers. The 20-EMA is the critical support to watch for on the downside. If this support cracks, the pair may decline to the 50-SMA. Buyers are expected to vigorously defend the 50-SMA because the pair may plunge to $2 if the level breaks down.

On the other hand, if the price remains above the 20-EMA, the possibility of a rally to $4 increases. Sellers are expected to pose a strong challenge at $4.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

The post Bitcoin chart pattern hints at sub $80K drop: BNB, AAVE, XMR and VIRTUAL still look strong appeared first on Cyber Cryptonomics.

One of the closely watched bullish events is the possibility of establishing a strategic Bitcoin reserve in the US. CoinShares said in a blog post that if the Bitcoin Act is passed, it would “have a more profound long-term impact on Bitcoin than the launch of” the spot Bitcoin exchange-traded funds in 2024.

However, not everyone is bullish in the near term. Analyst Willy Woo said in a Jan. 10 X post that Bitcoin’s sentiment “seems uber bullish,” but a “cautious approach” is warranted as the risk is peaking and there is “plenty more profit-taking to go before we are properly reset.”

Could Bitcoin climb toward $100,000, pulling select altcoins higher? Let’s look at the charts of the top 5 cryptocurrencies that may outperform in the near term.

Bitcoin price analysis

Bitcoin’s recovery is facing resistance at the 20-day exponential moving average ($96,190), but the buyers are not ceding ground to the bears.

The bulls will again attempt to push the price above the moving averages. If they manage to do that, the BTC/USDT pair could reach the downtrend line, where the sellers are expected to mount a strong defense. If the price turns down sharply from the downtrend line, the pair risks forming a descending triangle pattern on a close below $90,000.

On the contrary, a break and close above the downtrend line will signal that buyers are back in the game. The pair may rise to $102,724 and eventually to $108,353.

The bulls are trying to sustain the price above the 20-EMA. If they can pull it off, the pair may rise to the 50-simple moving average and subsequently to the downtrend line. If the price turns down from the downtrend line but bounces off the 20-EMA, it will suggest a change in sentiment from selling on rallies to buying on dips. That improves the prospects of a break above the downtrend line.

This optimistic view will be invalidated if the price turns down from the current level and plummets below $90,000. 

XRP price analysis

XRP (XRP) broke out and closed above the symmetrical triangle pattern on Jan. 11, indicating that the uncertainty has resolved in favor of the bulls.

The 20-day EMA ($2.34) has started to turn up, and the RSI is in positive territory, suggesting an advantage to the bulls. If the price maintains above the triangle, the XRP/USDT pair could climb to $2.73 and later to $2.91. Sellers are expected to aggressively defend the $2.91 level, but if the bulls prevail, the pair could surge toward the pattern target of $4.84.

The bears will have to pull the price back below the 20-day EMA to weaken the bullish momentum. The pair will signal a deeper correction on the break below the support line.

The pair is likely to retest the breakout level from the triangle. If the price rebounds off the breakout level, it will signal that the bulls are trying to flip the level into support. That increases the likelihood of a break above $2.60. The pair may then rise to $2.73.

Conversely, a break and close below the triangle could trap the aggressive bulls. That may sink the pair to $2.20 and later to the support line. Buyers are expected to fiercely defend the zone between $2.20 and the support line.

Hedera price analysis

Hedera (HBAR) is forming a bearish descending triangle pattern, which will complete on a break and close below $0.24.

A minor positive in favor of the bulls is that they have not allowed the price to dip below the 50-day SMA ($0.27). If the price turns up from the current level or the 50-day SMA with strength, it will signal demand at lower levels. The HBAR/USDT pair could rise to the downtrend line. A break and close above the downtrend line will tilt the advantage in favor of the buyers. The pair may then rise to $0.38.

Contrarily, a drop below the 50-day SMA suggests that the selling pressure is increasing. That could sink the pair to the $0.24 support.

The moving averages are crisscrossing each other, indicating volatile and random moves. If the price sustains below the 20-EMA, the bears will try to pull the pair to $0.26. This is a crucial level for the bulls to defend because a break below it may sink the pair to $0.24.

Buyers will have to push and maintain the price above the 50-SMA to gain strength. That could open the doors for a retest of the downtrend line. If this level gets taken out, the pair may ascend to $0.34.

Related: Here’s what happened in crypto today

Bitget Token price analysis

Bitget Token (BGB) is in a strong uptrend. Buyers bought the dip near the 20-day EMA ($6.10), indicating that the sentiment remains positive.

The bulls are trying to push the price to $8.50, where the bears are expected to mount a strong defense. If buyers bulldoze through $8.50, the BGB/USDT pair could climb to $10.

Instead, if the price turns down from the current level or overhead resistance, it will signal profit booking by the bulls. The bears will then make one more attempt to pull the pair below the 20-day EMA. If they succeed, the pair could drop to $5.50.

The price has dipped to the 20-EMA, which is likely to attract buyers. A strong rebound off the 20-EMA increases the possibility of a break above $7.50. If that happens, the pair could rally to $7.86 and later to $8.50.

Contrary to this assumption, if the price continues lower and breaks below the 20-EMA, it will suggest that the bulls are losing their grip. The pair could drop to the 50-SMA and later to $6. That could delay the start of the next leg of the uptrend.

Monero price analysis

Monero (XMR) has been trading between the 50-day SMA ($191) and the $207 resistance for a few days.

The XMR/USDT pair has formed an ascending triangle pattern, which will complete on a break and close above $207. If that happens, the pair could rally toward the pattern target of  $225.

This positive view will be invalidated in the near term if the price turns down and breaks below the uptrend line. That will negate the bullish setup, pulling the price toward the solid support at $180. Buyers are expected to defend the $180 level with vigor.

The pair has broken out of the $203 overhead resistance, indicating that the bulls are trying to take charge. There is minor resistance at $207, but it is likely to be crossed. The pair may travel to $220 and later to $225.

The first support on the downside is $193. If this support cracks, the pair may slide to $188. Such a move suggests that the pair could extend its stay inside the $180 to $207 range for a few more days.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

The post XRP, HBAR, BGB and XMR flash bullish signs as Bitcoin searches for direction appeared first on Cyber Cryptonomics.

Bitget Research chief analyst Ryan Lee expects Bitcoin to correct to $95,000, which is a critical support according to him. Some analysts view the current dip as a potential bear trap. Popular analyst Aksel Kibar wrote in a post on X that panic and crash forecasts after every 1% correction do not signal a market top. 

While most analysts remain positive on Bitcoin for the long term, the short-term picture looks murky. Bitcoin could drop toward the support of the large $90,000 to $109,588 range it has been stuck in for the past several days. Such a fall could pull several altcoins lower.

What are the important support levels that could prevent a deeper fall? Let’s look at the charts of the top cryptocurrencies that may rally if Bitcoin reverses direction and maintains above $100,000.

Bitcoin price analysis

Repeated failure to push Bitcoin above the $109,588 overhead resistance may have tempted short-term traders to book profits. That pulled the price to the 50-day simple moving average ($99,277) on Feb. 2.

The flattening 20-day exponential moving average ($101,538) and the relative strength index (RSI) in the negative territory indicate that the bulls are losing their grip. If the price breaks below the nearby support at $97,000, the next stop is likely to be $90,000.

The buyers will have to defend the 50-day SMA to prevent the downside. If the price turns up and breaks above the 20-day EMA, it will suggest solid buying at lower levels. The bulls will then try to propel the BTC/USDT pair toward the $107,240 to $109,588 resistance zone. 

The moving averages have started to slope down on the 4-hour chart, indicating that the bears have a slight edge. The pair is likely to witness a tough battle between the bulls and the bears near the $97,240 support. If the bears prevail, the pair could plummet toward $94,000 and then $90,000.

The first sign of strength will be a break and close above the moving averages. That could catapult the pair to $106,000 and eventually to $109,588.

MANTRA price analysis

MANTRA (OM) has pulled back in an uptrend, but a positive sign is that the bulls have not ceded much ground to the bears.

The 20-day EMA ($4.46) is sloping up, and the RSI is near the overbought territory, indicating that bulls have the upper hand. If the price turns up from the current level, the bulls will try to push the OM/USDT pair above $6. If they manage to do that, the uptrend could resume. The rally could then reach $6.63.

On the other hand, if the price breaks below $5, it will suggest profit-booking by the bulls. That could sink the pair to the 20-day EMA ($4.46).

The 4-hour chart shows that the bears are trying to maintain the price below the 20-EMA. If they manage to do that, the pair could slide to the 50-SMA and later to $4.40. Sellers may find it difficult to sink the price below $4.40, but if they can pull it off, the pair could start a deeper correction to $4.

On the upside, a break and close above $5.50 will suggest that the correction may be over. The pair could rise to $5.95, where the bears are expected to mount a strong defense.

Monero price analysis

Monero (XMR) closed above the $235 resistance on Jan. 31, but the bulls could not sustain the higher levels.

The bears have pulled the price below the breakout level and will try to sink the XMR/USDT pair to the 20-day EMA ($219). If the price turns up from the current level or the 20-day EMA, it will suggest a positive sentiment. The bulls will again try to resume the uptrend by pushing the pair above $245. If they succeed, the pair may rally to $265 and then to $290.

The 20-day EMA is the important support to watch out for on the downside. If this level cracks, the pair may slump to the 50-day SMA ($206), where buyers are expected to step in.

The pair has dropped to the 50-SMA, which is expected to act as a strong support. If the price bounces off the 50-SMA and rises above the 20-EMA, it will suggest that the selling pressure is reducing. The pair may climb to $235 and subsequently to $245.

Contrary to this assumption, if the 50-SMA fails to hold, it will indicate that the bears are attempting a comeback. That could deepen the correction to $216 and thereafter to $208.

Related: Here’s what happened in crypto today

Mantle Token price analysis

Mantle (MNT) has been oscillating between $1.28 and $1.04 for the past few days, indicating buying on dips and selling on rallies.

The price has dipped below the 20-day EMA ($1.14), opening the gates for a drop to the support of the range at $1.04. A strong bounce off the $1.04 level suggests demand at lower levels. The MNT/USDT pair could then extend its stay inside the range for a few more days.

The next trending move is expected to begin on a break above $1.28 or below $1.04. If the price turns up and breaks above $1.28, the pair could rise to $1.42 and, after that, to $1.52. Conversely, a drop below $1.04 could sink the pair to $0.92.

The 20-EMA has started to turn down on the 4-hour chart, and the RSI is in the negative territory, indicating an advantage to sellers. The pair could decline to the solid support at $1.04, where buyers are likely to mount a strong defense. 

If the price turns up from the current level or $1.04 and breaks above the moving averages, it suggests that the range remains intact. The pair will then attempt a rally to the top of the range at $1.28.

Gate Token price analysis

Gate Token (GT) slipped below the 20-day EMA ($22.15) on Feb. 2, but the bulls are trying to sustain the price above the $20.80 support.

If the price rises and closes above the 20-day EMA, the bulls will try to push the GT/USDT pair to the downtrend line. A break and close above the downtrend line could retest the overhead resistance at $25.96. The bears are expected to vigorously defend this level, but if the bulls prevail, the pair may ascend to $29.46.

Instead, if the price continues lower and breaks below the $20.80 support, it will suggest that the bulls are rushing to the exit. That could sink the pair to the 50-daySMA ($18.47).

The 4-hour chart shows the formation of a symmetrical triangle pattern, indicating indecision between the bulls and the bears. Buyers are trying to defend the support line, but the rebound is likely to face selling at the 20-EMA. If the price turns down sharply from the 20-EMA, the pair risks dropping below the triangle. The pair may fall to $19 and subsequently to $17. 

On the contrary, a break above the 20-EMA could push the pair to the downtrend line. A break above the triangle will suggest that the buyers have overpowered the bears. That could start a move to $25.96 and later to the pattern target of $29.79.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

The post Bitcoin falls to $96.8K as Trump tariffs spook markets: OM, XMR, MNT, GT show promise appeared first on Cyber Cryptonomics.

Bitcoin’s uncertain near-term price action could have increased traders’ interest in altcoins. CryptoQuant CEO Ki Young Ju said in a post on X that “altseason has begun.” Young Ju added that, unlike previous alt seasons, there wouldn’t be a direct rotation into altcoins from Bitcoin, but stablecoin holders would prefer altcoins. He said that trading volume defines altseason and highlighted that altcoin trading volume was 2.7 times higher than Bitcoin.

The largest altcoin, Ether (ETH), remains unfazed by the $1.4 billion hack of the Bybit exchange. According to CryptoQuant data, Ether whales, holding between 10,000 to 100,000 Ether, have accumulated $140 million worth of Ether since the hack. 

Could Bitcoin’s tight-range trading shift focus to altcoins? Let’s look at the top cryptocurrencies that look strong on the charts.

Bitcoin price analysis

Bitcoin turned down from the 50-day simple moving average ($98,933) on Feb. 21, indicating that bears are fiercely defending the level.

The 20-day exponential moving average ($97,236) is gradually sloping down, and the relative strength index (RSI) is just below the midpoint, indicating a slight advantage to the bears. A break and close below $93,388 could open the doors for a fall to the critical level at $90,000. Buyers will have to defend the $90,000 support to avoid the formation of a double-top pattern.

The bulls will gain the upper hand in the near term if they push and maintain the price above the 50-day SMA. The BTC/USDT pair could rally to $102,500 and eventually to $106,500.

Both moving averages have flattened out on the 4-hour chart, and the RSI is in negative territory, indicating a balance between supply and demand. The short-term advantage will tilt in favor of the bears if they pull the price below $93,388. The pair may then slump to the critical support at $90,000, where buyers are expected to step in.

On the upside, the bulls will have to push and maintain the price above the psychological level of $100,000 to start a stronger recovery toward $102,500. 

Ether price analysis

Ether rose above the 20-day EMA ($2,775) on Feb. 23, signaling that the bulls are attempting a comeback.

The zone between the downtrend line and $2,850 could pose a strong challenge, but if the bulls prevail, the ETH/USDT pair will signal a short-term trend change. The pair could rally to $3,332 and subsequently to $3,525.

This positive view will be invalidated in the near term if the price turns down from the downtrend line and breaks below $2,500. That could extend the downward move to $2,400 and later to $2,300. 

The 20-EMA on the four-hour chart has started to turn up, and the RSI has risen into the positive zone, signaling that the short-term advantage has shifted in favor of the bulls. The downtrend line may act as a strong barrier, but if the bulls overcome it, the pair may climb to $3,000 and then to $3,437.

Conversely, if the price turns down sharply from the downtrend line and breaks below the moving averages, it will indicate that the bears continue to sell on rallies. That may pull the pair to $2,600 and, after that, to $2,500.

BNB price analysis

Sellers are trying to keep BNB (BNB) below the 50-day SMA ($666), but the bulls have kept up the pressure.

Buyers will have to drive and maintain the BNB/USDT pair above the 50-day SMA to clear the path for a possible rally to $745. There is minor resistance at $686, but it is likely to be crossed.

If bears want to prevent the upmove, they will have to swiftly yank the price below the $635 support. If they can pull it off, the pair could slump to $596, bringing the large $460 to $745 range into play.

The four-hour chart shows that the pair has been trading between $680 and $635 for some time. The flattish moving averages and the RSI below the midpoint suggest a minor advantage to the bears. If the price breaks below $635, the pair could start a deeper correction to $596. 

On the contrary, a break and close above $686 signals that the bulls have asserted their supremacy. That may propel the pair to $732. 

Related: Can Ether recover above $3K after Bybit’s massive $1.4B hack?

Monero price analysis

Monero (XMR) has been in an uptrend for several days, but the upmove is facing resistance at $245.

If the price rebounds off the 20-day EMA ($228) with strength, it will improve the prospects of a rally above $245. If that happens, the XMR/USDT pair could accelerate toward the next significant resistance at $290. 

Contrary to this assumption, a break and close below the 20-day EMA suggests that the bulls are booking profits. That could pull the price down to the 50-day SMA ($219), which is likely to attract solid buying by the bulls.

Both moving averages are flattening out on the four-hour chart, and the RSI is near the midpoint, signaling a possible range-bound action in the near term. The pair may consolidate between $245 and $226 for a while.

If the price rises above $245, it will signal the start of the next leg of the uptrend. On the contrary, a break and close below $226 suggests that the bulls have given up. That could start a correction toward $216.

Bittensor price analysis

Bittensor’s (TAO) recovery is facing strong resistance at $500, indicating that the bears remain active at higher levels.

The bulls will try to stall the pullback at the 20-day EMA ($404). If they do that, it will suggest a change in sentiment from selling on rallies to buying on dips. The bulls will then make one more attempt to clear the overhead hurdle at $500. If they succeed, the TAO/USDT pair could jump to $600.

This optimistic view will be negated in the near term if the price breaks below the 20-day EMA. The pair may then descend to $346.

The pair has broken below the 20-EMA on the four-hour chart, indicating that the bullish momentum is weakening. Buyers will try to start a rebound off the 50-SMA. If they manage to do that, the pair could rise to $463 and later to $500. A break and close above $500 will complete a bullish inverted head-and-shoulders pattern, starting a rally toward $600.

Conversely, a break and close below the 50-SMA suggests that the bears remain in control. The pair may then tumble to the solid support at $350.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

The post Bitcoin lacks strength, but ETH, BNB, XMR, and TAO show promise appeared first on Cyber Cryptonomics.

XRP price is holding above key support levels after an aggressive 20% drop since last Sunday. Bulls have lost control, but despite the selling pressure, XRP remains strong above the $2 mark—a critical level that must hold to prevent further declines. The recent downturn has added to market uncertainty as investors look for signs of stabilization.

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Top analyst Ali Martinez shared an analysis on X, revealing that XRP is breaking out of an ascending parallel channel, signaling a potential downside. According to Martinez, XRP could target $1.65 if the breakdown continues, making the next few weeks crucial for its price action.

The overall market remains under pressure, with altcoins struggling to reclaim key levels. Bulls could push for a recovery if XRP manages to hold above $2 and regain momentum. However, failing to defend this support could result in a deeper correction, putting additional pressure on the broader crypto market.

XRP Bulls Try To Reclaim Bullish Momentum

XRP is trading below key levels as it tries to reclaim bullish price action amid the broader market selloff. The entire crypto market has been under pressure after Bitcoin lost its weekly support, triggering panic and increasing selling pressure across altcoins. XRP, like most major assets, has struggled to hold its ground, dropping sharply over the past few days.

Martinez’s analysis on X reveals that XRP is breaking out of an ascending parallel channel, signaling a potential move lower. According to Martinez, XRP could target $1.65 if it fails to hold current demand levels. This breakdown aligns with the overall market weakness, where bulls are struggling to regain control.

Despite the bearish outlook, XRP is still holding above the $2.20 mark, where buyers are attempting to defend the price from further declines. Short-term selling pressure seems to be fading, and if bulls can maintain support above this level, a recovery could be on the table. However, if XRP fails to reclaim the $2.40 level soon, bears could take control and push the price further down.

The next few days will be critical for XRP’s price action as the market looks for a potential reversal or continued downside.

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Price Holds Above Key Support

XRP is trading at $2.22 after briefly dropping to $2.05, following the recent wave of selling pressure that has shaken the entire crypto market. The price has struggled to reclaim higher levels as fear and uncertainty continue to dominate sentiment. Investors are closely watching for a potential recovery, but bears remain in control for now.

For XRP to regain momentum, bulls must hold the price above the $2.20 level and establish it as strong support. A sustained hold at this level could set the stage for a recovery rally, with the next key resistance around $2.40. However, if selling pressure intensifies and XRP fails to maintain its current support, the $2 mark will be the last stronghold for buyers.

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If XRP breaks below $2, further downside could follow, potentially dragging the price toward lower demand zones. On the other hand, a quick bounce above $2.30 could indicate a shift in momentum, allowing bulls to regain control and push the price toward $2.50 and beyond. The next few days will be critical for XRP’s short-term price action, as investors look for signs of strength amid ongoing market volatility.

Featured image from Dall-E, chart from TradingView

The post XRP Breaks Down Below Key Demand – Analyst Expects A Drop To $1.65 appeared first on Cyber Cryptonomics.

XRP has shown resilience amid the market’s volatility and uncertainty, standing strong as it rebounds from recent lows. The price is now over 33% up from Monday’s low, signaling renewed momentum and a potential push toward higher levels. Despite ongoing turbulence in the broader crypto market, the price appears to be regaining strength, with investors closely watching its next move.

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Top analyst Ali Martinez shared on-chain data revealing a key trend that has unfolded during this recent market dip. According to Martinez, whales seized the opportunity, accumulating over 520 million coins. This significant accumulation suggests that large investors remain confident in XRP’s long-term potential and could be positioned for a major price move in the coming weeks.

With XRP recovering from its recent lows and strong demand emerging at critical levels, traders are now eyeing a breakout above key resistance zones. The coming days will determine whether it can sustain its momentum and extend its rally. If whales continue to accumulate, the price could be setting up for a significant surge as market sentiment shifts toward bullish territory.

XRP Whales Prepare For A Rally

XRP has been one of the strongest-performing cryptocurrencies in the market since last November, consistently holding key levels despite volatility. As the broader market consolidates before the next big move, XRP appears well-positioned to extend its rally. Analysts are calling for a bullish cycle, citing technical and on-chain data supporting a significant price increase in the coming weeks.

Top crypto analyst Ali Martinez recently shared key on-chain metrics on X, revealing that whales took advantage of the recent market dip to accumulate 520 million XRP. This large-scale buying activity indicates strong confidence from institutional investors and high-net-worth individuals who see XRP as a valuable asset in the current market structure. While retail investors often panic and sell during corrections, whales and institutions strategically accumulate, setting the stage for a potential price surge.

Historically, whale accumulation during market downturns has been a strong indicator of future rallies, as these large players tend to position themselves ahead of major moves. The fact that XRP has bounced over 33% from Monday’s low reinforces the idea that strong hands are buying at key levels.

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With the altcoin showing strength and buyers stepping in at crucial levels, analysts believe a breakout above supply zones is imminent. If the price continues to hold strong, the next move could take the price beyond key resistance, pushing it toward multi-year highs. The $2.70 and $2.90 levels remain critical resistance zones and once cleared, XRP could enter a parabolic phase.

Price Holding Strong Amid Market Volatility

XRP has experienced significant volatility in recent days, with sharp price swings shaking market sentiment. Currently, XRP stands at $2.37, showing resilience despite recent market turbulence. Holding above the crucial $2.30 support level is essential for maintaining bullish momentum and initiating a recovery into higher supply zones. This level has historically acted as a key demand area, and if it holds, XRP could see a strong rebound.

For bulls to regain control and confirm a trend reversal, XRP must push above the $2.72 mark. This price level represents a key supply zone, and breaking above it would signal short-term strength, allowing for a potential rally toward higher resistance levels. If buyers step in with strong volume, XRP could aim for a breakout above $3.00, setting the stage for further price appreciation.

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However, if XRP fails to sustain support at $2.30, bearish pressure could intensify, leading to a deeper retracement. A drop below this level would likely send XRP toward the psychological $2.00 mark, where buyers would need to step in to prevent further downside. For now, all eyes are on whether XRP can reclaim key levels and maintain its bullish structure in the coming days.

Featured image from Dall-E, chart from TradingView

The post Massive XRP Accumulation – Whales Bought 520 Million XRP During Market Dip appeared first on Cyber Cryptonomics.