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Altcoins

Wave of Relief on Altcoins Likely as BTC Posts $5,000 Range

TokenTalk Staff

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Wave of Relief on Altcoins Likely as BTC Posts $5,000 Range
  • Bitcoin price could fall into the liquidity pool between $60,600 and $59,005 as it establishes weekly resistance at $65,600.
  • Ethereum price could confirm a downtrend with a 25% rise above $3,406 at the breakout point.
  • Ripple price defends $0.5000, but continued bearish activity will keep XRP holders’ vision for $0.6000 a hopium pipe dream.

Bitcoin (BTC) price has recorded lower highs over the past seven days, with a similar outlook seen among altcoins. Meanwhile, even though altcoins are showing a rather ominous outlook amid broader market hemorrhaging, there could soon be some relief as the fundamentals show:

  • A great chill in euphoria and feeling

A cooling phase allows the market to correct itself, stabilize and establish a more sustainable growth trajectory.

  • Good outlook for financing rates

Healthy financing rates indicate a well-functioning and balanced market ecosystem, promoting stability, reducing the risk of manipulation, and fostering trust among market participants.

  • Overleveraged short positions await liquidation

Although the initial liquidation of overleveraged short positions can cause short-term volatility, the final impact can often be positive for an asset’s price.

Learn more: Week Ahead: Bitcoin Could Surprise Investors This Week

Bitcoin Price Forms $5,000 Range

After successive weekly closes below $65,600 and as bulls defend against a fall below $60,000, Bitcoin price has established a macro market range of $5,000. Odds suggest a further decline as the Relative Strength Index (RSI) is moderate below the average level of 50 and the Awesome Oscillator (AO) indicator continues to show red histograms in negative territory.

If seller momentum increases and Bitcoin price falls liquidity pool between $60,600 and the March 5 intraday low at $59,005, the downtrend could continue with bulls waiting to buy BTC just above the psychological level of $50,000.

BTC/USDT 1-day chart

Conversely, if history repeats itself, Bitcoin the price could move in the opposite direction to that of the DXY Compare indicator. However, to confirm the continuation of the uptrend, bulls need to take BTC above $72,000 as many bearish activities await BTC price near the $70,000 threshold.

Read also: Bitcoin Price Outlook: Will BTC Ignore Major Macroeconomic Market Developments This Week?

Ethereum price could increase by 25%, pending confirmation

Ethereum the price is trading with a bearish bias, but not for long as the price action since March 12 has consolidated into a descending wedge pattern. The execution of this bullish reversal technical formation will occur after a decisive breakout above the upper trendline on a one-day time frame.

The target objective for this pattern is a 25% move toward $4,250, determined by measuring the health of the wedge and overlaying it with the expected breakout point.

The Relative Strength Index (RSI) continues to hover around the average level of 50, while the AO indicator shows increasing bullish sentiment displayed by the green histograms heading towards positive territory.

The highest highs observed on the RSI chart since mid-April, compared to the lowest highs in ETH price, also support the bullish thesis, suggesting a bullish divergence. If the RSI swings above the average level, it would further tip the scales in favor of a bullish breakout.

ETH/USDT 1-day chart

On the other hand, if the ETH bears are successful and book profits for the nearly 10% gains made since the Ethereum price rebounded from the $2,900 support, the market would see a surge. correction. A candlestick closing below $2,900 would invalidate the bullish thesis.

Read also: Ethereum Fees Fall to Lowest Since October, ETH Holds Above $3,200

Ripple price bears the brunt of persistent bearish pressure

Ripple The downside potential remains very present with bearish activity waiting to drop on the XRP price once it rises. This can be seen with the multiple peaks on the volume profile (gray) in the one-day chart below. The RSI is also in a steady decline, showing declining momentum.

This, coupled with the red bars of the histogram which remain in negative territory, reinforces the bearish outlook. If the psychological support of $0.5000 is lost, Ripple price could fall to the $0.4500 threshold, or in a disastrous case, extend the fall to the bottom of the market range at 0.4188 $, almost 20% below current levels.

XRP/USDT 1-day chart

On the other hand, if XRP bulls appear, Ripple price could rebound. However, for the bearish thesis to be invalidated, the price must register a candlestick close above $0.6500. Indeed, massive bearish activity awaits the payment token in the area surrounding $0.6000 as XRP bears wait to cash out.

Read also: XRP Slides to $0.50 as ETHgate Controversy Resurfaces, Ripple CTO Debates Impact on Litigation

FAQ Bitcoin, altcoins and stablecoins

Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as currency. This payment method cannot be controlled by any person, group or entity, eliminating the need for third party participation during financial transactions.

Altcoins are any cryptocurrency except Bitcoin, but some also consider Ethereum to be a non-altcoin because it is from these two cryptocurrencies that the fork occurs. If this is true, then Litecoin is the first altcoin, derived from the Bitcoin protocol and, therefore, an “enhanced” version of it.

Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset they represent. To achieve this, the value of a stablecoin is linked to a commodity or financial instrument, such as the United States dollar (USD), whose supply is regulated by an algorithm or demand. The main purpose of stablecoins is to provide an on-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are prone to volatility.

Bitcoin dominance is the ratio of the market capitalization of Bitcoin to the total market capitalization of all cryptocurrencies combined. This gives a clear picture of the interest in Bitcoin among investors. Strong BTC dominance typically occurs before and during a bull run, during which investors resort to investing in relatively stable, high market cap cryptocurrencies like Bitcoin. A decline in BTC dominance usually means investors are shifting their capital and/or profits to altcoins in search of higher returns, which usually triggers an explosion in altcoin rallies.

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We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Altcoins

5 Altcoins Reclaim High After Stock Market Crash

TokenTalk Staff

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Altcoins Recovering the Highest

Following the recent stock market crash, the global crypto market is slowly moving towards recovery. Despite major obstacles, Bitcoin And Ethereum are still struggling, while some altcoins have surprisingly become leaders, demonstrating their resilience and strong rebound. Livepeer (LPT), Notcoin (NOT), Stacks (STX), Toncoin (TON), and Injective (INJ) stood out from the rest, showing impressive performance despite general market trends.

1. Livepeer (LPT)

Livepeer (LPT) has seen a comeback, posting a significant growth of 16.62% over the past 24 hours and a steady 4.99% increase over the past week. With a price of $24.44, Livepeer the market capitalization increased to $800.66 million, boosted by a trading volume of $140.3 million in the last 24 hours.

LPT’s strong presence in the market is highlighted by its circulating supply of 5,743,984 tokens. Investor interest in this video streaming network protocol has led to its remarkable turnaround, positioning it as the best performer among altcoins.

2. Notcoin (NOT)

Notcoin (NOT) also stands out for its substantial recovery. Although there has been a slight decline recently, the token still managed to rise by 10.64% over the past 24 hours, despite being down 17.96% from the previous week.

With a price of $0.01801, Notcoin has a market capitalization of $1.85 billion and an impressive trading volume of $1.26 billion in the last 24 hours. The significant rebound of the token, despite not having 70,000,681,661 in circulation, demonstrates its strength and the market’s confidence in its future prospects.

3. Batteries (STX)

Stacks (STX) had a somewhat mixed performance, with a small rise of 7.46% the day before and a growth of 2.43% last week. Stacks is trading at a price of $2.32, giving it a total market capitalization of $3.4 billion and a 24-hour trading volume of $0.78 million.

Even with a slight decrease, Battery still manages to maintain investor confidence, as shown by its circulating supply of 124,903,979 STX. The network’s focus on integrating smart contracts and decentralized applications into Bitcoin may have contributed to its partial comeback.

4. Toncoin (TON)

TON is added to this range due to its strong rebound. Toncoin price of $7.59, which saw an increase of 6.96% in the last day and 3.78% in the previous week, demonstrates its strong position in the market. The market capitalization reached $18.47 billion, driven by a trading volume of $512.2 million in the last 24 hours.

67,500,386 TON’s significant presence in the market is highlighted by its circulating supply, driven by its association with the open Telegram network, offering a special blend of security and scalability.

5. Injective (INJ)

Injective (INJ) today completes the list of the best performing altcoins. Over the past day, the token has seen a growth of 6.44%, along with a remarkable 15.69% rise over the past week.

Injective’s market capitalization is $2.83 billion, with a 24-hour trading volume of $337.16 billion while its price is set at $30.26. With 11,100,904 INJ in circulation, this decentralized derivatives trading platform is showing strong market progress, highlighting its potential for continued expansion.

Conclusion

Despite the gradual recovery of the overall cryptocurrency market, these altcoins have shown impressive resilience and rebound. Livepeer, Notcoin, Stacks, Toncoin and Injective (INJ) present the possibility of substantial recoveries in the cryptocurrency sector, providing a glimmer of optimism for investors navigating the volatile cryptocurrency market. As the market further stabilizes, these alternative cryptocurrencies could lead to a new period of growth and innovation in the cryptocurrency sector.

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Altcoins

Analyst Says Top Memecoin Will Do Big Numbers This Year, Updates Forecast on BNB and Two Other Altcoins

TokenTalk Staff

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Analyst Says Top Memecoin Will Do Big Numbers This Year, Updates Forecast on BNB and Two Other Altcoins

A closely followed crypto analyst believes that a top memecoin could generate big gains later this year.

Pseudonymous crypto trader Altcoin Sherpa tell his 217,100 followers on social media platform X that he is long-term bullish on Dogecoin (DOGE).

“DOGE: Many memes look unstable in the short term, but I still think they look pretty good on long-term charts. However, expecting more chop for the next leg, I wouldn’t rush to buy new positions here. Patience. I still think it will do big numbers later this year.

Source: Altcoin Sherpa/X

Looking at his chart, the analyst suggests that DOGE could trade around a range with a low limit of $0.12 and a high limit of $0.17 before breaking out later in 2024.

DOGE is trading at $0.13 at the time of writing, down more than 4% in the last 24 hours.

Then the analyst warns that Ondo Finance (ONDO), a project focused on tokenizing real-world assets (RWA), could retest lower levels in the near term.

“ONDO: I was wrong in consolidating for another stage, I was not ready. I think this one will likely trade up to the $1.10 level before the next bounce (this should be small at $1.19 at first). However, I remain optimistic from an RWA (real world asset) perspective.

Source: Altcoin Sherpa/X

ONDO is trading at $1.22 at the time of writing, down 1.4% in the last 24 hours.

Then the analyst believes this BNB (BNB), the utility token of the BNB Chain ecosystem, could return to Fibonacci levels before resuming an uptrend. Major downside price targets include $600.

“BNB: half, hoping inflows are lower. »

Source: Altcoin Sherpa/X

BNB is trading at $609 at the time of writing, down almost 6% in the last 24 hours.

Finally, the analyst suggests this Internet of Things (IoT) project Jasmy (JASMY) may have more upside potential if it holds $0.0377 as support.

“JASMY never bought this shitcoin but it still looks pretty solid. Weird.”

Source: Altcoin Sherpa/X

JASMY is trading at $0.0357 at the time of writing, down almost 6% in the last 24 hours.

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Altcoins

These Altcoins Outpace Crypto Market Rebound

TokenTalk Staff

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These Altcoins Outpace Crypto Market Rebound

The crypto market saw a significant jump over the past 24 hours, with altcoins erasing previous losses. This change in sentiment comes after the release of Consumer Price Index (CPI) data showing a slowdown in inflation in the United States. Bitcoin and altcoins rose, bringing the crypto market cap to $2.52 trillion, an increase of 3.45% over the past 24 hours.

Altcoins in the top 20 are rebounding, but some assets are surpassing the maker with double digits while others have seen slight gains. Overall, crypto bulls are rallying into their assets, projecting a bounce above current resistance levels. Here are the best altcoins in the crypto market today.

Uniswap (UNI)

UNI, the decentralized crypto exchange token, Uniswap has seen an increase in flows compared to top altcoins. The asset surged 11% in the last 24 hours, pushing its price to $9.81. Although the weekly numbers remain in the red zone, the recent rise has rallied its community, anticipating renewed interest. UNI is down 10% this week, along with other crypto assets. Last week, crypto assets recorded a drop in sentiments after the U.S. employment data.

The rise above the top altcoins led to speculation that the asset would surpass the $10 mark.

Chain link (LINK)

LINK is trading at $16.02, up 6.7% in the past 24 hours as broader crypto assets rebound. Chainlink’s market capitalization stands at $9.4 billion while trading volumes jumped to $448 million. Like Uniswap, the weekly numbers are in the red zone after previous selloffs. Assets have seen outflows of 9.5% over the past seven days while monthly figures are up 19%.

Solana (SOL)

Solana, known for outpacing the market, gained 5% today, rebounding with recent inflows. Solana also saw an uptick in decentralized finance (Challenge) Numbers. Solana price regained $155 with a 1.5% rise in daily trading volumes. With a market cap of $71.5 billion, Solana’s growth continues to spark bullish trends.

Solana meme coins are also marking huge gains in the market as the tokens form frenzied Q1 inflows.

Read also: 3 Meme Coins with Potential Post-CPI 300X Data

David Pokima

David is a financial news contributor with 4 years of experience in Blockchain technology and cryptocurrencies. He is interested in emerging technologies and has an eye for the latest news. Staying on top of trends, David has worked across several niches including regulation, partnerships, crypto assets, stocks, NFTs, and more. Far from the financial markets, David goes cycling and horse riding.

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The Top Three Small-Cap “Altcoin Gems” to Stack Right Now

TokenTalk Staff

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These Altcoins are expected to outperform the crypto market in May!

The crypto market is currently fragile, with sideways trading of Bitcoin and altcoins down significantly. In these uncertain times, Altcoin Buzz analyst rounded up three altcoins that have outperformed their peers. He said the analysis came from the Altcoin Buzz Alpha team, combined with current industry trends. Here is the list of parts:

Part 1: GPT Chain

The analyst said the first project on his list was ChainGPT and added that he is excited about the role of AI in the crypto space, especially where it intersects with blockchain technology. ChainGPT provides AI tools for blockchain projects, including chatbots, Solidity smart contract generators, smart contract auditors, NFT generators, and trading assistants for DEXs. It offers easy-to-use SDK and API access, making it developer-friendly.

One of its best features is the ChainGPT Launchpad, which helps crowdfund AI, decentralized social networks, and other Web3 projects. Although it fell 30% over the past month, it is up 60% over the past year, outperforming many altcoins.

Part 2: Hive Mapper

The second project on his list is Hivemapper, which is similar to Web3’s Google Maps. Built on Solana, Hivemapper has already mapped nearly 20% of the world’s roads. The project is highly decentralized with over 143,000 contributors. Solana’s speed and low fees also benefit Hive Mapper.

Hivemapper’s native token, HONEY, costs just below 7.5 cents with a market cap of $133 million. Although HONEY is down 60-65% in the last three months, it is up 350% over the last year, making it one of the best performing products.

Room 3: Clearpool

He said last on his list was Clearpool, which focuses on real-world assets. Clearpool is a decentralized credit marketplace for institutions, with KYC and AML controls for regulatory compliance.

Clearpool’s system means that high-quality borrowers do not need full collateral, unlike other DeFi protocols. The CPOOL token is currently down, but over the last 30 days it has increased by around 30-35% and over the past year it has increased by 670%, despite a recent decline.

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