Author: Benjamin Lee
An analyst known for making timely altcoin calls believes that one memecoin running on Solana (SOL) is gearing up for a huge upside burst. Pseudonymous analyst Bluntz tells his 319,800 followers on the social media platform X that he sees the memecoin SPX6900 (SPX) igniting steep surges based on the principles of the Elliott Wave theory, an advanced technical analysis approach that tries to predict future price action by following crowd psychology that tends to manifest in waves. According to the theory, a bullish asset tends to witness a five-wave rally, with wave three representing the longest and steepest upside…
An analyst who has earned the Master Trader rank on the crypto exchange Bybit thinks Solana (SOL) looks good after recovering a key support level. Pseudonymous analyst Bluntz tells his 319,800 followers on the social media platform X that Solana is flashing a swing failure pattern (SFP) on the four-hour chart after losing support at $160 at the end of May, only to recover the price level days later. An SFP is typically viewed as a reversal pattern, and in Solana’s case, the inability of bears to push prices lower indicates a failure to sustain downward momentum, potentially triggering a…
The company behind the second-largest USD-pegged stablecoin by market cap is naming its price for its upcoming US initial public offering (IPO). According to a Reuters report, USDC-issuer Circle says it is aiming for a $7.2 billion valuation in its upcoming IPO – about $28 per share – partially because of the current administration’s friendlier outlook on crypto regulations. US dollar-pegged stablecoins aim to maintain a 1:1 value with the US dollar. Tether’s USDT is the largest USD-pegged stablecoin by market value. Says Chief Investment Officer of Running Point Capital, Michael Ashley Schulman, “Issues regarding memecoin hype and more specifically…
Pi Network users are reporting second migration prompts amid unresolved KYC issues. 276M PI tokens are set to unlock in June, raising sell-off concerns. Currently, Pi Coin trades below $0.66 with bearish technical indicators. The Pi Network is facing renewed tension as community frustration grows over a fresh wave of migration prompts and persistent Know Your Customer (KYC) issues. These developments have surfaced just weeks before a massive PI token unlock, placing additional pressure on the project’s native token, Pi Coin. While the network attempts to revive user engagement through new initiatives like gaming and decentralised apps, the market has…
Cryptocurrency analyst Benjamin Cowen is warning that altcoins may collapse in their Bitcoin (BTC) pairs any moment now. In a new strategy session, Cowen tells his 900,000 YouTube subscribers that the TOTAL 3 chart, which tracks the market cap of all digital assets excluding Bitcoin, Ethereum (ETH) and stablecoins, remains in a downtrend against the flagship crypto asset and has yet to find a market bottom. “I don’t care how great you think your altcoin community is. I don’t care if your developers that you follow have not yet rugged you. Altcoins, in my opinion, are oscillators at best against…
Cronos defied a sector-wide downtick on Friday after the crypto asset manager Canary Capital filed for a CRO-based exchange-traded fund (ETF). CRO is the native asset of the Cronos layer-1 blockchain, which was developed by the exchange Crypto.com. Canary filed an S-1 Form with the U.S. Securities and Exchange Commission (SEC), proposing an ETF that would offer investors exposure to CRO. If approved, the product would also stake a portion of its CRO holdings to earn rewards. The new S-1 statement represents the latest in a spree of recent ETF filings for Canary, which is also attempting to launch Solana (SOL),…
A widely followed cryptocurrency analyst and trader is leaning bullish on Bitcoin (BTC) amid a recent correction. The trader pseudonymously known as Sherpa tells his 246,700 followers on the social media platform X that Bitcoin is still in a “strong bullish trend” despite breaking below the $106,000 support level. According to the widely followed analyst and trader, Bitcoin is primed to “bounce” as there is strong support at around the $104,000 price level. Source: Altcoin Sherpa/X Based on Sherpa’s chart on the four-hour time frame, Bitcoin could fall lower to just above $103,000 and then trade sideways for a while…
A widely followed crypto analyst says that Bitcoin is primed to print new all-time highs if BTC can reclaim key levels as support. In a new post, crypto trader Michaël van de Poppe tells his 789,400 followers on the social media platform X that if Bitcoin can break through the resistance range between $106,500-$107,000, the flagship crypto asset will likely soar beyond its current all-time high of about $111,800. “Bitcoin has lost the crucial support level. However, the drop isn’t as severe as we might expect. This means, reclaim of $106,500-$107,000, that would be the party trigger sign for new…
A widely followed crypto analyst says that one Ethereum (ETH)-based altcoin looks ready to skyrocket in the coming months while updating his outlook on Bitcoin (BTC) and Sui (SUI). In a new strategy session, crypto trader Michaël van de Poppe tells his 789,600 followers on the social media platform X that it appears as if the layer-2 scaling solution Arbitrum (ARB) is primed to rise over the next 1-2 months. “The bullish divergence on ARB remains to be valid as it starts to make higher lows and higher highs. One to watch, and as we have this higher timeframe bullish…
A crypto strategist thinks that altcoins are about to upstage Bitcoin (BTC) after years of languishing in the background. Analyst Michaël van de Poppe tells his 789,100 followers on the social media platform X that he thinks the period of altcoin underperformance against Bitcoin is almost over based on the Bitcoin Dominance (BTC.D) chart. The BTC.D chart tracks how much of the crypto market cap belongs to BTC. A bearish BTC.D indicates that altcoins are outperforming Bitcoin. According to Van de Poppe, altcoins are now poised to outpace Bitcoin as the BTC.D chart is flashing a bearish reversal signal on…