Author: Nancy Lubale

The second-largest crypto Ethereum (ETH), continues to establish an uptrend as it trades just above the 50-day Simple Moving Average (SMA). Trading at $1,890 at the time of writing, on Friday, June 2, Ethereum price is up 1.72% in the last 24 hours. If support provided by the 50-day SMA is upheld, traders could expect Ether to build momentum for a breakout above $2,000. On-chain shows that more Ethereum is being held in self-custody wallets than on exchanges. This points to increasing investor confidence in the proof-of-stake (PoS) token Ethereum Bulls Could Exploit A Bullish Triangle To $3,000 After turning…

Dogecoin (DOGE) is trading at $0.0714 with a bearish bias on both the daily and weekly timeframes. The meme coin has been on a downtrend, underpinned by a stubborn trendline, a technical setup that forecasts a massive drop on the daily timeframe. Fortunately for DOGE holders, the coin presents a hidden bullish signal on the longer timeframe, pointing to a potential recovery as long as certain things are in place. This involves Dogecoin bulls overcoming key hurdles and seeing momentum strength indicators turn bullish. Dogecoin price needs a bullish trigger DOGE turned away from the $0.76 high in May 2021…

As the Artificial Intelligence (AI) boom continues to fuel gains across the crypto industry and Traditional Finance (TradFi) sectors, Nvidia hit a major milestone on Tuesday. The US-based chipmaker joined one of the most exclusive clubs on Wall Street when its market cap hit the $1 trillion mark. Meanwhile, AI tokens rode on the ensuing bullishness, recording massive gains over the last 24 hours. Nvidia joins the $1 trillion club Nvidia surprised market players last week when it reported skyrocketing earnings and an exceptionally strong revenue forecast for the next fiscal year. Powered, to a great extent, by the hype…

Bitcoin recovered from intraweek lows below $26,000 to finish the last week on a positive note. The news of a possible debt ceiling deal between President Joe Biden and congressional republicans bolstered the big crypto to $28,000 early Monday morning. At the time of writing BTC is auctioning for $27,768, down 0.94% on the day and up 1.34% over the last seven days. A prolonged stalemate between the White House and Republicans over the US government’s debt ceiling appeared to come to an end over the weekend when Predet Biden reached a tentative deal with Republican House speaker Kevin McCarthy…

Shiba Inu fights to sustain the recovery that has been witnessed over the last four days as SHIB burn sequence remains steady since the Shibarium testnet debuted in early March. As a result, billions of SHIB tokens have been removed from circulation over the past week placing the meme coin on the verge of a breakout. According to the Shibburn tracking service, approximately 2.915 billion SHIB were burned last week. The $SHIB burn tracker tweeted on Monday revealing that this was almost 50% of what the SHIB holders sent to dead wallets when they removed five billion tokens from circulation…

Avalanche (AVAX) has been on a downtrend since mid-April, resulting in 35% losses toward the $14 demand zone. As a result, Avalanche’s price has breached key support zones and now faces an uphill task on its recovery journey.  The technical outlook shows a bullish setup that forecasts a massive up move in the price. What Double Bottom Pattern Means For AVAX Avalanche’s price action has formed a double-bottom chart pattern on the daily chart (see below). This pattern is regarded as bullish and denotes a trend reversal. It often develops when an asset tries to retest a specific support area…

Ripple price is trading at $0.4665, up 7% over the last week. The recent surge in the value of XRP has captivated investors and the “XRP Army” who are amazed at the ability of Ripple Labs to defy the odds and progressively develop the blockchain. The gains seen over the last week have injected a whooping $1.9 billion in XRP’s total market value to bring it to around $23.7 billion at the time of writing. Along with this surge in market cap, market participants have transacted over $670 million worth of XRP (~1.471 billion tokens) over the last 24 hours.…

Crypto prices have been suppressed over the past six weeks, frustrating the efforts by Bitcoin bulls to push and sustain the big crypto above $30,000. Apart from the bearish technical structure, derivatives metrics show that buyers will have a hard time breaking the downtrend, as the price action on the shorter timeframe provides a negative outlook for Bitcoin. Bitcoin is trading at $26,042 with a bullish bias, down 1.66% on the day and 1.93% over the last week. This shows that BTC’s price is generally unchanged as overhead pressure heats up. BTC/USD Four-hour Chart Notice that the descending triangle chart…

Dogecoin (DOGE) was trading with a bullish bias around $0.0736 as buyers focused on undoing losses incurred in the last couple of days. Technical analysis revealed that the recent sell-off might have offered traders a chance to buy the altcoin at a discount as it appeared primed for an upswing. Dogecoin Bulls Eye 10% Returns To $0.0809 DOGE price action had formed a bullish cup-and-handle chart pattern on the four-hour chart, setting itself up for a bull run. At press time, Dogecoin was trading in the green above the $0.0724 support level, embraced by the 50-period Simple Moving Average (SMA).…

Shiba Inu (SHIB) trades at $0.00000880 with a bullish bias as buyers fight to defend a crucial support level. Long-term suppliers suddenly became active moving around more than 20 trillion SHIB, despite the investors being under water. This could be a sign that investors have decided to count their losses, which is not good for Shiba Inu price. On-chain Metrics Show Growing Investor Concerns About SHIB Shiba Inu displays weakness as bearish clouds from its recent price action still hover above it. Over the last week, on-chain performance of the meme coin explains growing investor performance about their returns. This…