Price analysis
3 TON Charts Signaling a Major Toncoin Price Rally This November
Published
2 days agoon
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adminThe cryptocurrency market is gearing up for a massive bull run amid positive anticipation of the U.S. presidential election result. The bullish scenario could be suitable for high-performing assets like TON to replenish the recovery momentum. Here are three bullish charts hinting at a prolonged uptrend for the Toncoin price.
By the press time, TON price traders at $4.7 with an intraday loss of 3.3%. According to CoinGecko Data, the ToncoToncoin’set cap is $11.9 Billion, while the 24-hour trading volume is $234.4 Million.
3 Key Charts Indicating a Major Toncoin Price Rally This November
TON has shown signs of resilience and investor confidence despite recent market corrections. Below, we explore three critical charts that indicate a potential major rally for Toncoin price in November.
Whale Accumulation and Exchange Outflows Signal Potential Toncoin Price Rally
According to Santiment data, the percentage of TON supply held by top addresses has surged steadily from 23.7% to 27.5% in the last three months. This trend often suggests increased confidence among major investors in the assetasset’s-term potential. Historically, whale accumulation has led to price bottom formation and a precursor for a sustained uptrend.
Moreover, the TON supply on exchange has dropped drastically from 2.54 Million to 1.68 Million in the last two months. Such a supply shift often precedes a rally, as reduced exchange availability can create upward pressure on the price when demand rises.
Plunge in MVRV Ratio Hints at Potential TON Market Rebound
Amid the recent market correction, the 30-day Market Value to Realized Value (MVRV) ratio has plunged to -6.6%. The MVRV ratio is a metric that compares an asset’s capitalization to its realized capitalization, offering insights into whether the asset is overvalued or undervalued.
Generally, a negative value indicates that short-term buyers are at a loss and could capitulate if the correction is prolonged. Such exit for speculative traders often attracts long-term buyers in the market and drives a market recovery.
TON Price Analysis Signals Breakout from 4-Month Correction
Over the past four months, the Toncoin price has witnessed a steady correction from $8.17 to $4.7, registering a loss of 42%. The daily chart displays this correction with a downsloping trendline offering dynamic resistance to TON.
As the crypto market anticipates a bullish outlook around the upcoming U.S. presidential election, the Toncoin price shifted its bearish trajectory sideways. With sustained buying, the crypto buyers could drive an 8.5% surge to challenge the dynamic resistance. A potential breakout from this resistance could accelerate the bullish momentum and push the asset 74% to $8.2.
On the contrary, if sellers defend the overhead trendline, the current correction could be extended for November.
Frequently Asked Questions (FAQs)
The anticipation of a market-wide bull run surrounding the U.S. presidential election has fueled positive sentiment for high-performing assets like Toncoin
This decline implies reduced sell-side liquidity and can lead to upward price pressure when demand rises, often signaling the potential for a price rally
The charts highlight key bullish signals, including whale accumulation, reduced exchange supply, and technical resistance nearing a breakout, all pointing toward a potential rally for Toncoin this month.
Sahil Mahadik
Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Hamster Kombat Price
Hamster Kombat Price Risks $0.001 Breakdown Amid Massive User Exodus?
Published
10 hours agoon
November 4, 2024By
adminThe cryptocurrency market is gearing up for renewed market recovery amid the upcoming U.S. presidential election. The Bitcoin price recovery toward an All-time high has bolstered the broader market uptrend. Despite the bullish sentiment, the Hamster Kombat price is gradually heading for a $0.001 breakdown as it experiences a dramatic decline in its user base.
With the crypto market today, the HMSTR price trades at $0.0023 with an intraday gain loss of 1.42%. The global crypto market cap is $2.28 Trillion, while the 24-hour trading volume is $58.3 Billion.
Hamster Kombat Price Risks $0.001 Breakdown as 260M Users Exit
Hamster Kombat, once a standout in the crypto-gaming sphere, has experienced a dramatic decline in its user base over the past few months. According to recent data, the platform’s active users declined steadily from its July high of 300 million to 41 million.
Despite the initial hype, the poorly distributed air has significantly impacted the platform’s use base. Its hastily constructed AI and repetitive, tedious gameplay have failed to sustain user interest.
The staggering decline of 260 million users could negatively impact demand pressure on Hamster Kombat price. This downtrend indicator lowers engagement and decreases demand for in-game tokens, reducing liquidity and undermining the token’s market value.
If the trend persists, the HMSTR price could witness prolonged correction and drive the $0.001 breakdown.
HMSTR Chart Analysts Hints Major Breakout Amid Channel Formation
Since last month, the Hamster Kombat price has witnessed a steady correction from $0.0051 to $0.0023, registering a 55% loss. This steady shows a higher and lower low formation series, indicating a falling channel pattern formation.
Theoretically, the pattern drives a steady downturn, but as no trend remains the same in a tradable asset, the HMSTR price is poised for a decisive breakout.
By press time, the Hamster Kombat price trades at $0.0023 with a market cap of $151.1. If the U.S. presidential election drives a crypto market recovery, the altcoin could jump 18% to challenge the overhead trendline.
A potential breakout will signal a market trendline and drive the altcoin price to $0.005.
However, if the HMSTR’ user base continues to decline, the asset could prolong its correction a break below $0.001
Frequently Asked Questions (FAQs)
Hamster Kombat’s price is facing potential breakdown pressure due to a massive decline in its user base
The current price trend is shaped by a falling channel pattern, characterized by a series of lower highs and lower lows within two trendlines.
Yes, the upcoming U.S. presidential election could trigger a broader market recovery
Sahil Mahadik
Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Ethereum (ETH) price has experienced a period of consolidation after recent gains, with a decline pushing it below the $2,550 support level. While ETH faces resistance of nearly $2,500, it holds the potential for recovery if it clears this key barrier. Analysts suggest possible volatility ahead, with forecasts hinting at potential pump-and-dump dynamics driven by venture capital influences.
Analyst Suggests Ethereum Price a VC Pump and Dump
Crypto analyst tweeted a controversial perspective on Ethereum’s long-term trajectory, raising questions within the cryptocurrency community. The tweet posits that Ethereum’s significant growth might be attributed to a venture capital (VC) pump-and-dump scheme, sparking debate about the network’s stability and future.
The analyst highlighted a possible downward trend. Ethereum’s price movement appears to follow a channel, indicating consistent support and resistance. However, a sharp drop in the projection suggests potential risks.
Crypto Expert Warns of Ethereum’s Instability
The crypto expert issued a cautionary note regarding Ethereum’s current market position. Beamish expressed concern over Ethereum’s chart patterns, suggesting potential instability. With market factors like the upcoming election adding unpredictability, he noted Ethereum appears “teetering on the edge,” raising questions about its immediate trajectory.
Analysis points to a volatile period for the top coin as it hovers near critical support levels. He highlighted Ethereum’s delicate positioning, which could influence traders weighing whether to hold or exit their positions. In his words, Ethereum is at a crossroads, posing a dilemma: “do I jump? Do I jump?”
$ETH #Ethereum
hate to say it, election or not, this one is looking really dangerous in here…..just teetering on the edge….’do I jump? do I jump?’ pic.twitter.com/dxKNEK8cVk— Brian Beamish (@CRInvestor) November 4, 2024
Will ETH Price Rebound To $3000 In November?
At the time of writing, the Latest ETH price is hovering at $2,469, with a slight surge over the past 24-hours. Ethereum is positioning itself near crucial resistance levels, with the potential for a significant price movement. A clear push above the $2,550 resistance could drive ETH toward $2,600, while an upward breakout past $2,800 might further fuel gains. If successful, this momentum could lead Ethereum closer to the $3,000 resistance mark, appealing to bullish investors eyeing a rally.
However, if the Ethereum price prediction fails to surpass the $2,500 resistance, it risks a downturn. Initial support sits around $2,450, with more substantial support at $2,400. A decisive break below $2,400 could heighten selling pressure, potentially pulling the price to $2,350 as traders look to these levels for a bounce or further decline.
Approximately 76.09% of Ethereum addresses are “In the Money,” covering a value range of up to $2,406.82. On the other hand, 20.91% are “Out of the Money,” indicating potential losses for holders who bought above $2,499.15. Only 3% of addresses remain “At the Money,” meaning they break even at current prices.
Ethereum’s near-term direction remains uncertain, with resistance levels, VC speculation, and market conditions shaping the price outlook for this leading cryptocurrency.
Frequently Asked Questions (FAQs)
A VC pump-and-dump scheme implies that venture capitalists may artificially inflate Ethereum’s price and then sell, causing potential price drops.
Ethereum could rebound if it clears the $2,500 resistance, which could pave the way for gains towards $2,600 and potentially $3,000.
The upcoming election could introduce additional market unpredictability, impacting investor sentiment and Ethereum’s price movement.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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The Cardano price plunged 4.8% during the Sunday trading session to $0.33. The bearish downturn likely followed the Bitcoin price drop below $68,000 as the crypto market witnessed a surge in selling pressure ahead of the U.S. presidential election. Will the correction extend the ADA buyer coil counterattack for the surge to $0.5 in November?
Will Cardano Price Reach $1.05 This November?
The cryptocurrency market is experiencing a renewed bullish momentum ahead of the U.S. presidential election in 2024. The Cardano price managed to leverage this broader market sentiment to shift its prevailing downtrend to sideways.
Since mid-June, the Cardano price has been resonating strictly between two converging trendlines, indicating the formation of a symmetrical triangle pattern. Theoretically, this pattern guides a temporary consolidation between a dimension, dynamic support, and resistance to republish the prevailing trend.
If the market corrections prolong, the ADA price could plunge another 2.8% to seek support at an ascending trendline intact since June 2023. Historical data shows the Cardano price reversal from this support has led to a recovery ranging from 35% to 250%. Thus, the ADA price could strengthen its grip over the asset at the bottom support and attempt a bullish breakout from the key resistance of current correctional at $0.37.
Crypto buyers need to achieve this breakout by mid-November if they aim to reach the $0.5 target by month’s end.
Whale Accumulation and MVRV Data Hint at Cardano Price Recovery
According to santiment data, the 30-day market cap to realized cap ratio (MVRV) has recently plunged to a -6.37% mark. The MVRV ratio compares an asset’s market capitalization to its realized capitalization and helps determine whether the asset is overvalued or undervalued.
Historically, the MVRV breakdown below -6% has formed local market bottoms. Generally, the negative value indicates a loss-making short-term trader could capitulate if the correction trend extends. Exit from these speculative traders often attracts long-term business and drives sustained recovery.
Moreover, ADA buyers with wallets holding 100 million to 1 billion coins have drastically increased their accumulation from 2.06 billion to 2.95 billion over the last four months. This significant accumulation trend implies growing confidence among major investors in Cardano’s long-term potential.
Historically, such accumulation by large holders, or “whales,” is often a precursor to a price uptrend, as it indicates strategic buying and reduced sell pressure. However, if the selling pressure at the overhead trendline persists, the Cardano price may extend the sideways action.
Frequently Asked Questions (FAQs)
This trend signals growing confidence among major investors and typically precedes a price uptrend due to strategic buying and reduced sell pressure
Cardano’s price could hit $0.5 if it successfully breaks out of the symmetrical triangle pattern by mid-November
A retest of the multi-month ascending support trendline intact since June 2023 could trigger a bullish breakout
Sahil Mahadik
Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
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