Cardano (ADA) has started painting a bearish continuation pattern on its longer-timeframe charts, raising its likelihood of undergoing a major price crash by August. ADA price in danger of a 60% plunge Dubbed the "bear pennant," the pattern forms when the price consolidates inside a range defined by a falling trendline resistance and rising trendline support after a strong move downside. Additionally, the consolidation moves accompany a decrease in trading volumes. Bear pennants typically resolve after the price breaks below their trendline support and, as a rule, could fall by as much as the height of the previous big downtrend, …

Solana (SOL) continued its recovery trend on June 28 while inching closer to triggering a classic bullish reversal setup. SOL's price gained 2.42%, reaching an intraday high of $39.40. The SOL/USD pair is now up 50% as a part of a broader retracement move that began on June 14 after falling to lows of $26. Solana price eyes 75% rally The latest buying period in the Solana market has been painting what appears to be an "inverse head and shoulders pattern (IH&S)" pattern. The bullish reversal setup appears when the price forms three troughs in a row below a common …

Troubled crypto lending firm Celsius is putting their best foot forward to recover operations alongside CEO Alex Mashinsky, who currently stays in the United States, the company has claimed. A spokesperson for Celsius has denied rumors that the company’s CEO tried to flee the U.S. last week amid the ongoing liquidity crisis of the Celsius Network. The representative told Cointelegraph on Monday that the firm continues working on restoring liquidity, stating: “All Celsius employees — including our CEO — are focused and hard at work in an effort to stabilize liquidity and operations. To that end, any reports that the …

Bitcoin’s (BTC) current bear market is one of the worst, according to a report by on-chain analytics firm Glassnode. This was the first time in history that the Mayer Multiple slipped below the previous cycle’s low. Bitcoin’s fall below $20,000 on June 18 also marked the biggest loss ever booked by investors in a single day at $4.23 billion. Considering the above factors and a few other events, Glassnode believes that the capitulation in Bitcoin may have started. Bitcoin whales seem to have started their purchasing, suggesting that the bottom may be close and on June 25, analytics resource "Game …

The price of Terra (LUNA2) has recovered sharply nine days after falling to its historic lows of $1.62. On June 27, LUNA2's rate reached $2.77 per token, thus chalking up a 70% recovery when measured from the said low. Still, the token traded 77.35% lower than its record high of $12.24, set on May 30. LUNA2's recovery mirrored similar retracement moves elsewhere in the crypto industry with top crypto assets Bitcoin (BTC) and Ether (ETH) rising by approximately 25% and 45% in the same period. LUNA2 price rally could trap bulls The recent bout of buying in the LUNA2 market …

Amid the Chinese government continuing to celebrate the massive decline of cryptocurrency markets this year, one key local blockchain expert has referred to crypto as a Ponzi scheme. Yifan He, CEO of Red Date Technology — a major tech firm involved in the development of China’s major blockchain project called the Blockchain Service Network (BSN) — has penned a new article devoted to various kinds of cryptocurrencies and their supposed Ponzi-like nature. Published in the local newspaper The People’s Daily on Sunday, the piece refers to private cryptocurrencies as the “biggest Ponzi scheme in human history.” The author mentioned the …

Dogecoin (DOGE) looks ready to extend its rebound move despite the current crypto bear market. 79% chances DOGE will extend its rebound move DOGE’s price appears to have been painting a bump-and-run-reversal (BARR) bottom since May 11, a technical pattern that points to extended trend reversals in a bear market. It consists of three successful phases: Lead-In, Bump and Run. The Lead-In phase sees the price consolidating inside a narrow and sideways range, showing an interim bias conflict among investors. That follows the Bump phase, wherein the price drops and recovers sharply, leading to a price breakout, defined by the …

XCarnival, a liquidity provider for the Ethereum ecosystem, recovered 1,467 Ether (ETH) just a day after suffering an exploit that drained 3,087 ETH, worth roughly $3.8 million, from the protocol. Blockchain investigator Peckshield noticed the XCarnival hack as it came across a stream of transactions that eventually bled 3,087 ETH from the protocol. Explaining the nature of the exploit, Peckshield stated: “The hack is made possible by allowing a withdrawn pledged NFT to be still used as the collateral, which is then exploited by the hacker to drain assets from the pool.” Soon after the revelation, XCarnival proactively informed the …

Bitcoin (BTC) starts a new week above $20,000 but heading for a new bearish record as a key support level remains out of reach. After a calm weekend punctuated by a brief spike to nearly $22,000, BTC/USD is back near the closing price of June 24 for CME futures markets. A “round trip” thus allows traders to pick up where they left off at the end of last week’s final Wall Street trading session, but what could lie in store in the coming days? A familiar cocktail of macro threats and ongoing bearish tendencies make the current climate far from …

The United States equities markets witnessed a sharp comeback last week, led by the Nasdaq Composite, which gained 7.5%. The S&P was up about 6.5% for the week, while the Dow Jones Industrial Average managed a gain of 5.4%. Continuing its tight correlation with the equities market, the crypto markets are also attempting a relief rally. Bitcoin (BTC) has seen a modest recovery, but some altcoins have risen sharply in the past week. This suggests that investors are taking advantage of the sharp fall in the price to accumulate altcoins at lower levels. Smaller-sized investors have been using the decline …

Bitcoin (BTC) focused on $21,000 into the weekend amid warnings that volatility could still consume the market before June 27. S&P 500 sees second best week of 2022 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD broadly higher in its recent trading range after United States stocks ended the week strong. As noted by markets commentators Holger Zschaepitz, the S&P 500 sealed its second best week of 2022, indicative of modest relief across risk assets. In case you missed it: S&P 500 has gained >6% in 2nd-best week of 2022 as disinflationary forces gather steam & #Fed tightening expectations …

Austrian crypto and stock trading platform Bitpanda joins the growing list of companies to announce a mass layoff as it aims to “get out of it financially healthy” amid an unforgiving bear market. Over the past several weeks, the bear market resulted in numerous catastrophic outcomes for many ecosystems such as TerraUSD Classic (USTC) and Abracadabra’s Magic Internet Money (MIM) de-pegging fiasco. Witnessing the crashes from a front-row seat, Bitpanda made the “tough decision” of cutting down its employee headcount to roughly 730 people. While the exact number of employees intimated to stop working for Bitpanda remains undisclosed, data from …