Category: Cryptocurrency News

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Hermetica, the creator of USDH, a Bitcoin-backed, yield-bearing synthetic dollar, has secured $1.7 million in seed funding. The round, led by UTXO Management, will accelerate the development of USDH, a stablecoin that operates on Bitcoin’s layer one (L1) and layer two (L2) networks. USDH Gains Momentum as Hermetica Raises $1.7 Million in Seed Funding According […]

Dogecoin is rising above the $0.120 resistance zone against the US Dollar. DOGE is now showing positive signs and might clear the $0.1280 resistance. DOGE price started a fresh increase above the $0.1200 resistance level. The price is trading above the $0.1220 level and the 100-hourly simple moving average. There was a break above a major declining channel with resistance at $0.1170 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could gain bullish momentum if it clears the $0.1250 and $0.1280 resistance levels. Dogecoin Price Regains Traction Dogecoin price started a fresh increase above the $0.1100 resistance zone. DOGE gained traction for a move above the $0.1200 resistance zone, beating Bitcoin and Ethereum. There was also a move above the $0.1250 and $0.1265 resistance levels. During the increase, there was a break above a major declining channel with resistance at $0.1170 on the hourly chart of the DOGE/USD pair. The pair traded as high as $0.1297 and recently saw a minor downside correction. The price dipped below the $0.1265 level. It traded below the 23.6% Fib retracement level of the upward move from the $0.1101 swing low to the $0.1297 high. Dogecoin price is now trading above the $0.1200 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.1280 level. The next major resistance is near the $0.1300 level. A close above the $0.1300 resistance might send the price toward the $0.1320 resistance. Any more gains might send the price toward the $0.1350 level. The next major stop for the bulls might be $0.1400. Are Dips Supported In DOGE? If DOGE’s price fails to climb above the $0.1280 level, it could start another decline. Initial support on the downside is near the $0.1235 level. The next major support is near the $0.1200 level and the 50% Fib retracement level of the upward move from the $0.1101 swing low to the $0.1297 high. The main support sits at $0.1175. If there is a downside break below the $0.1175 support, the price could decline further. In the stated case, the price might decline toward the $0.1150 level or even $0.1120 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.1235 and $0.1200. Major Resistance Levels – $0.1280 and $0.1300.

DogWifHat (WIF) is emerging as one of the top meme coins in the market, currently testing a critical liquidity level that could propel the price to new highs.  As the broader crypto market navigates a period of volatility and uncertainty, traders eagerly search for confirmation of a potential rally. WIF, which has gained significant traction in recent months, is now at a crucial point where the next move could define its short-term future. Related Reading: Solana Will Target New ATHs Once It Breaks $160 Resistance – Analyst Prominent analyst and investor Ali Martinez has shared insightful data suggesting a bullish outlook for DogWifHat. Metrics point toward a rise in price action, which could lead to a breakout, with WIF potentially surging to the $4 mark if momentum continues to build.  However, the coming days will be key in determining whether a bull trend can be confirmed as market participants await signs of sustained upward movement. All eyes are on WIF to see if it can capitalize on this moment and rally to new heights. DogWifHat Turning Point  DogWifHat (WIF) is at a critical turning point, with its price hovering just above the $2.5 mark, a crucial psychological level for confirming an ongoing uptrend. Investors and traders are closely watching this level, as its ability to hold will determine whether WIF pushes to new highs or retraces to lower demand zones. Top analyst Ali Martinez recently shared a technical analysis on X, revealing that a buy signal has appeared for WIF on a key indicator, the TD Sequential.  The TD Sequential, known for accurately predicting trend reversals in the crypto market, has previously been spot-on for DogWifHat. According to Martinez, this new buy signal could be the catalyst that sends WIF into a bullish phase, fueling optimism among investors. The overall sentiment in the market is also leaning toward a potential surge as volatility continues to rise and other major cryptocurrencies show signs of life. Martinez’s analysis supports the growing belief that WIF could be on the verge of a breakout, especially if it holds the $2.5 level.  Related Reading: Dogecoin Buy Signal Hints At Upside As Funding Rate Keeps Rising However, if the price fails to maintain this support, investors expect a drop to lower demand levels. In the coming weeks, WIF’s price movement will be pivotal in determining whether the meme coin continues its upward trajectory or faces further corrections. WIF Technical Analysis  WIF is currently trading at $2.62 after experiencing a few days of volatile price action within a sustained uptrend. On Monday, the price set a new high at $2.97 but has since retraced slightly and is now testing crucial demand at a previous resistance level of around $2.5.  This level is key for bulls, as holding above $2.5 would maintain the upward momentum and set WIF up to target the $3 mark, in line with the broader market’s continued push upward. However, should WIF fail to hold the $2.5 level and close below it, this could indicate a shift in the price structure and signal the start of a correction.  Related Reading: Analyst Forecasts XRP Bullish Breakout – A 1,000% Opportunity? Traders are keeping a close eye on these levels, as a drop below $2.5 would suggest weakening bullish momentum and the potential for a pullback to lower support areas. The next few days will determine whether WIF continues its uptrend or faces a short-term retracement. Featured image from Dall-E, chart from TradingView

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On Wednesday, as bitcoin soared to an intraday peak of $68,388 per coin, a wallet from 2011 suddenly sprang to life after lying dormant for over 13 years, spending 150 BTC, valued at $10.17 million. This latest awakening follows the movement of 100 BTC from a similar 2011 address just two days earlier. Bitcoin Wallet […]

Ancilia accidentally shared a link to a wallet drainer in its attempt to help victims of the $52 million hack on blockchain lending protocol Radiant Capital.

XRP price is still struggling to clear the $0.5550 zone. The price must settle above the $0.5550 resistance to start a steady increase in the near term. XRP price is consolidating above the $0.5320 zone. The price is now trading above $0.5400 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $0.5435 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could gain bullish momentum if it clears the $0.550 and $0.5550 resistance levels. XRP Price Holds Support XRP price made another attempt to clear the $0.5550 resistance zone. However, the bears remained active below $0.5550 and there was no upside break. The price corrected some gains like Bitcoin and Ethereum. There was a move below the $0.5500 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $0.5377 swing low to the $0.5537 high. However, the bulls are active and protecting more losses below $0.540. The price is now trading above $0.540 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $0.5435 on the hourly chart of the XRP/USD pair. The trend line is close to the 61.8% Fib retracement level of the upward move from the $0.5377 swing low to the $0.5537 high. On the upside, the price might face resistance near the $0.5500 level. The first major resistance is near the $0.5520 level. The next key resistance could be $0.5550. A clear move above the $0.5550 resistance might send the price toward the $0.5650 resistance. Any more gains might send the price toward the $0.5840 resistance or even $0.5880 in the near term. The next major hurdle might be $0.6000. Another Drop? If XRP fails to clear the $0.5550 resistance zone, it could start another decline. Initial support on the downside is near the $0.540 level and the trend line. The next major support is near the $0.5350 level. If there is a downside break and a close below the $0.5350 level, the price might continue to decline toward the $0.5265 support in the near term. The next major support sits near the $0.5180 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.5400 and $0.5350. Major Resistance Levels – $0.5500 and $0.5550.

Bitcoin has been experiencing a notable increase in network activity, as indicated by a surge in active addresses. Data shows that the cryptocurrency has seen a resurgence in user engagement following a sluggish performance during July and August since the start of September. With this uptick in activity, it is worth assessing Bitcoin to see what this development could spell for the asset’s price trajectory. Related Reading: Bitcoin Finally Breaks Above Falling Wedge Pattern—Here’s The Next Target The Increase In Active Addresses A CryptoQuant analyst, who goes by the pseudonym Crazzyblockk, recently highlighted this trend on the CryptoQuant QuickTake platform, emphasizing that the spike in active addresses is a promising sign for Bitcoin. According to the analyst, the “Bitcoin Active Address Momentum” metric, which compares monthly and yearly moving averages of active addresses, has shown a significant rise, indicating a positive shift in network activity. For context, the Bitcoin Active Address Momentum metric is used to track changes in the level of user activity on the network. By comparing monthly and yearly moving averages, the metric helps detect increased or decreased engagement patterns. In this case, Bitcoin’s active addresses have surged above both the monthly and yearly moving averages, marking a potential turning point for the network. What This Surge In Active Addresses Means For Bitcoin Crazzyblockk explained that while it is challenging to correlate the rise in active addresses with price performance directly, this growth represents a broader trend of renewed interest in Bitcoin. Historically, spikes in active addresses have been associated with increased demand, often preceding or occurring during bullish market cycles. This surge in user participation may signal a growing demand for Bitcoin, potentially fueling a more sustained upward movement in price. Meanwhile, although Bitcoin’s price performance throughout the summer months was lackluster, increasing active addresses may catalyze a renewed bullish phase. The analyst further noted that increased network activity is often critical to long-term price growth. Therefore, this spike in active addresses is a positive development that should be monitored. Related Reading: Bitcoin Analyst Reveals Best On-Chain Metric For ‘Day-To-Day Trading’ Network activity is often viewed as a key indicator of market sentiment and investor interest. The market may be gearing up for another expansion phase, with user engagement increasing. This could also impact other cryptocurrencies, as Bitcoin’s price trends often influence the entire crypto market. So far, Bitcoin seems to be gradually reflecting the implication of this increase in network activity. Over the past week, the top crypto has risen by nearly 10% as it trades above the $67,000 price. Featured image created with DALL-E, Chart from TradingView