Altcoins
‘Very Promising Start’: Top Analyst Says Ethereum Headed Higher Against Bitcoin – Here Are His Targets
Published
1 month agoon
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adminA top analyst who accurately called the end of the 2022 crypto bull market thinks Ethereum (ETH) is poised to rally in both its Bitcoin (ETH/BTC) and US dollar pairs.
Pseudonymous analyst Pentoshi tells his 826,200 followers on the social media platform X that ETH/BTC looks good after respecting its support at 0.30 BTC.
According to the crypto strategist, ETH/BTC may bounce to as high as 0.4597 BTC.
“Very promising start.
Let’s see if we can get to the target.”
At time of writing, ETH/BTC is trading for 0.0373 BTC worth $3,563.
As for Ethereum against the dollar, Pentoshi thinks it is within the realm of possibility for ETH to surge above $4,000.
“No reason this doesn’t challenge this year’s highs, or higher in my opinion.
Which likely has confluence with the ETH/BTC target posted.”
He also thinks that the rally will be driven by investors allocating hundreds of millions of dollars in capital to ETH-based exchange-traded funds (ETFs).
“Starting to become more consistent for ETH.
We could see a few $250-$500 million days at some point too in the near future for this [BlackRock ETH] ETF. Had a $91 million day just in the last week.
Probability of that you have to assume is very high and not far stretched at all.”
Pentoshi is also keeping a close watch on the native asset of the graphics processing unit (GPU) rendering network Render (RENDER). The analyst says RENDER looks bullish after flipping a key resistance level at $8.10 as support.
“Was a very short wait, RENDER flipped it, retested, and confirmed on the four-hour [chart].
Structurally a great looking chart.”
At time of writing, RENDER is worth $8.61, up over 8% in the past day.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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Altcoins
Trader Forecasts Q1 Surges for Ethereum (ETH), Says ‘Mega Pump’ Incoming for One Crypto Sector
Published
2 days agoon
January 6, 2025By
adminA crypto strategist and trader is laying out his predictions for the digital asset market for the first few months of the year, including his Q1 outlook for Ethereum (ETH).
The analyst pseudonymously known as Inmortal tells his 222,400 followers on the social media platform X that he thinks Ethereum is gearing up for rallies this quarter.
The trader believes that ETH is about to follow in the footsteps of its Q1 2024 price action.
“ETH about to have a good Q1.”‘
Looking at the trader’s chart, he seems to predict that ETH will hit a new all-time high of $5,300 by March. At time of writing, ETH is worth $3,646.
He also thinks old altcoins and artificial intelligence (AI)-focused projects will ignite rallies in the next three months.
“In Q1:
1. ETH outperforms.
2. SOL go +$300
3. AI coins mega-pump
4. Memes underperform
5. Dino coins have a good run.”
While the analyst believes memecoins will not see huge rallies in Q1 of this year, he says that Floki (FLOKI) will be an exception.
“High conviction on the memecoin leader.
FLOKI.”
Based on the trader’s chart, he appears to suggest that FLOKI is mirroring Pepe’s (PEPE) late 2023 to early 2024 price action when the Ethereum-based memecoin went parabolic after months of sideways movement. The trader seems to predict that FLOKI will hit a new all-time high of $0.0005 before the end of Q1.
At time of writing, FLOKI is trading at $0.00019.
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Altcoins
Bears aim at $2.20 Reversal as Profit-taking begins
Published
2 days agoon
January 5, 2025By
adminXRP price fell as low as $2.30 on Sunday, January 5, down 7% within the 24-hour timeframe. Recent trading data shows that XRP is witnessing intense sell-side pressure. Is Ripple price at risk of double-digit losses in the week ahead?
XRP Price Retraces 7% as Profit-Taking Begins
XRP price action has experienced downward volatility in the last 24 hours, after a remarkable start to 2025. As the global crypto market rally entered its 5th day, investors began to reshuffle capital across the markets, with the likes of XRP and Shiba Inu (SHIB) witnessing bearish tailwinds.
The TradingView chart above illustrates how XRP prices climbed 25% between December 30 and January 4. But after a 5-day winning streak, early profit-taking signals have emerged as XRP price retraced 7% from $2.50 to $2.33 in the last 24 hours.
With the broader crypto market sentiment still largely positive, recent declines in XRP transaction volumes suggest traders could be rotating gains towards other assets.
CryptoQuant Data Signals Growing Sell-Side Pressure
Failure to breach the $2.50 resistance on January 4 has dampened bullish momentum within the XRP markets over the last 24 hours. However, derivatives markets data show active holders ramped up sell-side pressure since January 2.
Indicatively, CryptoQuant’s Taker Buy/Sell ratio tracks and compares the volume of buy orders to sell orders executed at current market rates. Taker Buy/Sell ratio values below 1 signal bearish dominance, where sellers exiting at current prices outpace willing buyers.
The chart above shows that XRP Taker Buy/Sell ratio fell as low as 0.93 on Sunday, January 5, signaling that sell order volumes have outpaced demand in each of the 3 previous trading days. This evidently set the stage for the 7% price dip experienced in the last 24 hours.
If this shortfall in market demand persists relative to supply, XRP prices could face additional downside risks in the week ahead.
XRP Price Forecast: Bulls Could Regroup at $2.20 Support Level
XRP’s recent 7% price dip has been driven by a rapid profit-taking frenzy, with the Taker Buy/Sell ratio dropping to 0.93 as of January 5. This indicates a consistent dominance of sell-orders over buy-orders in the past three trading days, leading to intensified downward pressure.
If this imbalance between supply and demand persists, XRP could face further declines in the short term.
Trading volumes have been gradually decreasing, signaling weak participation from both buyers and sellers.
The Relative Strength Index (RSI) is trending downward at 53.69, suggesting more downside potential before approaching oversold territories.
In terms of short-term XRP price forecasts, immediate support lies at $2.27, which aligns with the lower Bollinger Band. A breach below that key XRP support level could extend the reversal toward $1.85.
On the upside, the recent peak at $2.50, which aligns with the middle Bollinger Band, acts as immediate resistance.
A sustained recovery above this level could pave the way for XRP to retake the $3 mark.
If XRP rebounds from $2.20 and buyers regain dominance, the price could climb back toward $2.35, and a breakout above $2.52 would invalidate the bearish outlook. However, if selling pressure continues and XRP loses $2.20 support, the next leg down to $1.85 could materialize quickly.
Frequently Asked Questions (FAQs)
XRP’s price drop is linked to profit-taking, with sell orders outpacing buys as indicated by a Taker Buy/Sell ratio of 0.93.
Immediate support lies at $2.20, with critical resistance at $2.50. Breaching $2.50 could open the door to a rally toward $3.
Yes, if selling pressure persists and $2.20 support fails, XRP could decline further to $1.85. However, a rebound above $2.50 could spark recovery.
ibrahim
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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Litecoin (LTC) has been experiencing a significant decrease in volatility, with a crypto analyst highlighting an unusual tightening in its bi-monthly (2M) Bollinger Bands (BB). According to an analyst, Litecoin’s current technical setup points to strong potential for a parabolic breakout, with the $130 price mark emerging as a critical resistance zone.
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Narrow Bollinger Bands To Trigger Litecoin Breakout
Prominent crypto analyst Tony Severino shared a price chart on X (formerly Twitter) showing Litecoin’s price action on a bi-monthly time frame, applying Bollinger Bands as a technical indicator to measure a cryptocurrency’s price volatility. The Bollinger Bands examine market volatility by plotting an upper and lower band around a Moving Average (MA), which acts as a basis line.
In Litecoin’s case, Severino has indicated that the cryptocurrency’s 2M Bollinger Band width is extremely narrow, underscoring a lack of or significantly decreased volatility. Historically, Bollinger Bands are known to expand during periods of high volatility and tighten at low volatility.
Severino’s Litecoin chart displays the upper Bollinger Band marked by the red line, the basis line by a blue line, and the lower band highlighted in the green area. The analyst disclosed that Litecoin’s candlesticks are currently positioned above the basis line at $83.3, indicating potential for bullish momentum.
If the price of Litecoin continues upwards and crosses the upper Bollinger band at approximately $130, Severino predicts that it could trigger heightened volatility and an explosive price breakout. Based on historical trends, an extremely narrow Bollinger Band often indicates a potential for a bullish trend reversal after a period of consolidation.
Severino’s analysis has pinpointed the upper BB at $130 as a crucial resistance area for Litecoin. A sustained break above this level on a high timeframe could pave the way for more gains, potentially pushing Litecoin significantly above its current market value of around $111.5.
According to CoinMarketCap, Litecoin has recorded modest gains, increasing by 6.14% in the past 24 hours. Over the past week, the prominent cryptocurrency has also experienced a higher increase of about 11.7% to its current level. To reach the critical resistance area at $130, Litecoin is required to rise by approximately 18% from its market price.
Litecoin Rally Predicted, Targets 38% Upside
According to crypto analyst Mike on X, Litecoin is preparing for a significant breakout to a new price high. He forecasts that the cryptocurrency will record a 38% price rally from the breakout point at $106 to reach a fresh bullish target of $146.67.
Looking at the analyst’s price chart, Litecoin appears to have broken the $102 resistance level and is approaching its next significant resistance at $122.77. The chart also highlights horizontal lines indicating critical resistance areas for Litecoin.
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Mike has pinpointed a key support zone at $99.91 that could act as a safety net for Litecoin during a downtrend. Should Litecoin face a significant price drop below this support, the analyst points to the $86.97 and $74.43 price levels as the next potential support areas.
Featured image from Pexels, chart from TradingView
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