Altcoin

Raydium Breaks Key Level Showing Relative Strength – New Highs Next?

Published

2 months ago

January 18, 2025

Este artículo también está disponible en español.

Raydium (RAY) has had an exceptionally bullish week, surging over 62% in less than six days and capturing the spotlight in the decentralized exchange (DEX) market. This impressive rally has positioned Raydium as a market leader, with strong momentum that shows no signs of slowing down. The cryptocurrency recently cleared last year’s high, a significant milestone that further bolsters its bullish outlook.

Top analyst BigCheds shared insights into Raydium’s performance, highlighting its relative strength in the market. According to BigCheds, the token’s ability to outperform in a volatile environment signals strong demand and solidifies its position as one of the top-performing DEX tokens. This bullish momentum is drawing increased attention from traders and investors who see the potential for even greater gains in the near term.

Raydium’s breakout above last year’s high is a significant technical achievement, paving the way for further upward movement. With market sentiment turning increasingly positive and Raydium showcasing resilience and strength, the DEX is well-positioned to capitalize on its recent momentum. As it continues to outperform, many are watching closely to see just how high Raydium can go in this bullish phase. The coming days will be crucial for determining its next big move.

Raydium Reaches Multi-Year Highs

Raydium has made a significant move, breaking above the $6.5 mark just a few hours ago and continuing to push higher as the cryptocurrency market gains momentum. This breakout signals strong bullish sentiment for the token, as both technical and fundamental factors align to support further price appreciation. As the leading decentralized exchange (DEX) on Solana, Raydium’s growth and dominance within the ecosystem further bolster its long-term potential.

Top analyst Cheds recently shared a technical analysis on X, emphasizing Raydium’s relative strength compared to other altcoins. According to Cheds, RAY’s ability to outperform in a volatile market environment highlights the strong demand driving its rally. The token’s decisive move above key supply levels is a bullish indicator that could pave the way for significant gains in the coming days.

Raydium showing relative strength | Source: BigCheds on X

Beyond technicals, Raydium’s fundamentals remain robust, contributing to its strong performance. The DEX has cemented itself as a critical component of the Solana ecosystem, providing liquidity and facilitating seamless trading for a wide range of assets. Its expanding user base and consistent innovation reinforce investor confidence, making it a top choice for traders and liquidity providers alike.

As Raydium builds on its momentum, clearing critical price levels and pushing higher, many investors are now targeting even loftier price points. If the market continues to heat up and RAY maintains its relative strength, the potential for a massive rally becomes increasingly likely. With its strong fundamentals and bullish technical outlook, Raydium is well-positioned to capture further gains, making it one of the most exciting altcoins to watch in this current market cycle. The coming days will be pivotal in determining how far RAY can go in this bullish phase.

RAY Breaking Above Key Levels

Raydium is currently testing levels not seen since 2022, signaling a remarkable resurgence in its price action. The token’s strong momentum suggests it is primed for further gains, with bullish sentiment dominating the market. However, a potential retest of the $6.5 level could be on the horizon, providing an opportunity for consolidation before the next leg up.

RAY Breaks multi-year highs | Source: RAYUSDT chart on TradingView

As of now, RAY is holding above the critical $6.70 mark, a level that solidifies bullish control. Maintaining this support is crucial, as it underscores market confidence and sets the foundation for continued upward movement. If bulls can defend this level, the next logical target for RAY would be the $7 mark—a key psychological and technical resistance that, once cleared, could pave the way for even greater gains.

Market sentiment around Raydium remains optimistic, with both technical indicators and fundamentals aligning to support its bullish trajectory. As the leading decentralized exchange (DEX) on Solana, RAY continues to benefit from strong utility and growing adoption, further reinforcing its appeal to investors.

Featured image from Dall-E, chart from TradingView

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Accumulation Phase

XRP Price Reversal Toward $3.5 In The Works With Short And Long-Term Targets Revealed

Published

1 hour ago

April 3, 2025

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Created by industry experts and meticulously reviewed

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Este artículo también está disponible en español.

The XRP price is showing signs of a strong bullish reversal, with a crypto analyst predicting a potential rebound toward $3.5 and even higher. After experiencing significant volatility and undergoing a consolidation due to recent price declines, technical indicators now show support for XRP’s bullish outlook. As a result, the analyst has provided a short—and long-term price target for the cryptocurrency.

XRP Price Projected To Reverse To $3.5

According to ‘Setupsfx’, a crypto analyst on TradingView, XRP is now in a bullish reversal phase, meaning its price is expected to break out of its recent downturn and rise to new highs. Based on the expert’s chart analysis of XRP, the cryptocurrency is predicted to see an explosive increase to $3.5 following the end of its consolidation phase.

The chart indicates that the price of XRP is expected to rise to $3.5 in the coming months. However, from a fundamental analysis perspective, the analyst believes XRP is not limited to this bullish price target and could potentially surpass it to exceed current all-time highs of $3.84.

While the TradingView expert’s analysis of XRP maintains a neutral stance, implying uncertainty in the trend, he has also emphasized the cryptocurrency’s strong potential for growth. Hence, XRP could experience significant upward movement if market conditions align favorably and investor sentiment and confidence strengthen.

For his short-term price target, the crypto analyst forecasts that XRP could rally to a level above $3.5. He advises traders who intend to hold their positions for a short period to aim for this price level, as it could be a strategic exit point before a potential pullback.

Notably, the analyst’s long-term price target for XRP has been set at $4.0 or higher. Considering XRP’s price is currently trading at $2.09, a surge to $4 would represent an almost 100% increase in its price.

Technical Elements Supporting Bullish Reversal

In his chart analysis, Setupsfx highlights XRP’s price action in a 12-hour time frame, showcasing key movements, trends, and technical elements that support his bullish projection. These elements include liquidity and IMB zones, which are areas where price action is expected due to pending orders.

The analyst also highlights an accumulation phase, as XRP has been consolidating at lower levels, signaling the possibility of a potential breakout. The appearance of strong low wicks further indicates that buyers are regaining control of the market.

Finally, the TradingView analyst has indicated that the altcoin has already undergone a three-point trendline rejection, which means it has tested and rejected a resistance level multiple times. The expert’s price chart also provides an ideal entry point for both short and long-term traders, marked at $1.8. A stop loss has also been placed significantly lower around $1.2 to minimize potential losses.

XRP trading at $2.1 on the 1D chart | Source: XRPUSDT on Tradingview.com

Featured image from iStock, chart from Tradingview.com

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adx

Bitcoin And Altcoins Fischer Transform Indicator Turn Bearish For The First Time Since 2021

Published

1 day ago

April 1, 2025

admin

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

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Este artículo también está disponible en español.

Technical expert Tony Severino has warned that the Bitcoin and altcoins Fischer Transform indicator has flipped bearish for the first time since 2021. The analyst also revealed the implications of this development and how exactly it could impact these crypto assets.

Bitcoin And Altcoins Fischer Transform Indicator Turns Bearish

In an X post, Severino revealed that the total crypto market cap 12-week Fisher Transform has flipped bearish for the first time since December 2021. Before then, the indicator had flipped bearish in January 2018. In 2021 and 2018, the total crypto market cap dropped 66% and 82%, respectively. This provides a bearish outlook for Bitcoin and altcoins, suggesting they could suffer a massive crash soon enough.

In another X post, the technical expert revealed that Bitcoin’s 12-week Fischer Transform has also flipped bearish. Severino noted that this indicator converts prices into a Gaussian normal distribution to smooth out price data and filter out noise. In the process, it helps generate clear signals that help pinpoint major market turning points.

Severino asserted that this indicator on the 12-week timeframe has never missed a top or bottom call, indicating that Bitcoin and altcoins may have indeed topped out. The expert has been warning for a while now that the Bitcoin top might be in and that a massive crash could be on the horizon for the flagship crypto.

He recently alluded to the Elliott Wave Theory and market cycles to explain why he is no longer bullish on Bitcoin and altcoins. He also highlighted other indicators, such as the Parabolic SAR (Stop and Reverse) and Average Directional Index (ADX), to show that BTC’s bullish momentum is fading. The expert also warned that a sell signal could send BTC into a Supertrend DownTrend, with the flagship crypto dropping to as low as $22,000.

A Different Perspective For BTC

Crypto analyst Kevin Capital has provided a different perspective on Bitcoin’s price action. While noting that BTC is in a correctional phase, he affirmed that it will soon be over. Kevin Capital claimed that the question is not whether this phase will end. Instead, it is about how strong Bitcoin’s bounce will be and whether the flagship crypto will make new highs or record a lackluster lower high followed by a bear market.

The analyst added that Bitcoin’s price action when that time comes will also be trackable using other methods, such as money flow, macro fundamentals, and overall spot volume. The major focus is on the macro fundamentals as market participants look forward to Donald Trump’s much-anticipated reciprocal tariffs, which will be announced tomorrow.

At the time of writing, the Bitcoin price is trading at around $83,000, up around 1% in the last 24 hours, according to data from CoinMarketCap.

Featured image from Unsplash, chart from Tradingview.com

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Altcoin

Cryptocurrencies to watch this week: Solana, Cronos, DOT

Published

3 days ago

March 30, 2025

admin

Cryptocurrencies will likely be volatile this week once President Donald Trump’s reciprocal tariffs go into effect and the U.S. publishes nonfarm payroll data.

The week started on a dull note, with most coins remaining in a bear market. At last check, Bitcoin (BTC) had dropped to $82,432.00.

The crypto fear and greed index has slumped to the fear zone 25. Some of the top cryptocurrencies to watch this week are Solana, Polkadot, and Cronos.

Solana

Solana (SOL), the popular layer-1 network, will be in the spotlight this week since its price is hovering above the key support level at $119.5. As shown above, it has failed to drop below this level several times since April last year, a sign that bears have been afraid of shorting below it.

Therefore, a drop below $119.5 will confirm a bearish breakdown and point to further downside. Besides, the Solana price formed a death cross pattern on March 3 as the 50-day and 200-day moving averages crossed each other.

A drop below $119.6 indicates a further drop to $100.

Cronos

Cronos, formerly Crypto.com, will be one of the top cryptocurrencies to watch this week because of its strong performance last week. It jumped by 30% in the last seven days, and by 54% from its lowest point this year.

Cronos price has bounced back after Crypto.com partnered with Donald Trump’s Trump Media to launch ETFs. It also rose after the community voted to allow the creation of another 70 billion CRO tokens, which will be used to create a Strategic Crypto Reserve.

The community also voted to burn 50 million CRO tokens. The daily chart shows that the Cronos price rebounded after hitting the crucial support level at $0.0715, where it failed to drop below in August and November last year.

A breakout above this month’s high of $0.1197 will point to further gains, potentially to the 50% retracement level at $0.133.

Polkadot

Polkadot (DOT) will be a top crypto to watch because its price is at a crucial support level. DOT was trading at $4.08, a few points above the key support point at $3.60.

This support is crucial since it failed to drop below it several times since 2022.

Polkadot price has also formed a falling wedge pattern, with the two lines nearing their confluence level. This price action points toward a strong bullish breakout in most periods, which may happen this week. Such a move would see DOT price jump to $12.

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