Bitcoin (BTC) looks poised to pursue a run-up towards $100,000 as its price breaks out of a classic bullish structure. Dubbed as the Bull Pennant, the setup represents a price consolidation period with converging trendlines that form after a strong move higher. It ultimately prompts the price to break out in the direction of its previous trend to a level typically at length higher by as much as the size of the initial large move. On Bitcoin weekly charts, the cryptocurrency appeared to have been trending inside a similar consolidation structure, with its price fluctuating inside a triangle-like structure following …

Shiba Inu (SHIB) kickstarted its new weekly session in the green as it continued its bullish retracement move from last week’s low of $0.00002058. SHIB’s price logged an intraday high of $0.00002907 on Oct. 11, netting over 40% returns from its ongoing rebound trend. In doing so, the Dogecoin-inspired meme cryptocurrency eyed an extended runup toward its technical resistance level near $0.00002978, as shown in the chart below. Extended rally ahead? The Shiba Inu chart also shows traders’ intention to accumulate SHIB tokens when its price tests the 20-4H exponential moving average (20-4H EMA; the green wave) as support. For …

XRP has a good chance of hitting $1.50 in the fourth quarter of 2021 after painting a bullish crossover between its 20-day and 50-day exponential moving averages (EMA). The so-called golden cross has appeared multiple times on XRP charts in history. Its last occurrence was on Aug. 10, which followed up with an 80% price rally later, with XRP topping out seasonally at $1.43 before pulling back to the downside. Similarly, a close of XRP’s 20-day EMA above 50-day EMA on Feb. 4, coincided with an approximately 400% price rally afterward. In doing so, XRP reached a year-to-date high of …

The run-up in the price of Shiba Inu (SHIB) so far in October has pushed the SHIB token to become the 20th largest digital asset by market capitalization. Shiba Inu's circulating market valuation jumped to $11.08 billion earlier this week and is currently above $10 billion, putting it in the top-20 by market cap for the first time. As a result, the Dogecoin-inspired meme cryptocurrency became more valuable than popular blockchain projects like Stellar (XLM), Polygon (MATIC) and Tron (TRX). The growth in Shiba Inu's valuation came on the heels of a tweet published by Elon Musk. On Oct. 4, …

Experienced analysts and media outlets including Cointelegraph recently highlighted some indicators suggesting that the Bitcoin (BTC) price rally could be overextended. Those bearish views include one from Bollinger bands creator John Bollinger, suggesting traders use a trailing stop, as signs of a “top” were building up. However, it is worth noting that Bollinger Bands and the Fear and Greed indicator are backward-looking metrics. Therefore, those will usually flash overbought levels whenever there’s a 30% weekly rally, such as the most recent one. As crypto analyst TechDev_52 correctly questioned, there’s no way to know whether we’re entering a large potential correction …

Over the past few months, there have been some major developments coming out of China that have rocked the cryptocurrency market and the global financial markets. China’s Evergrande debt repayment crisis sent shockwaves throughout global equities markets, as well as the United States Securities and Exchange Commission’s (SEC’s) consistent signaling of upcoming regulation for stablecoins and decentralized finance (DeFi) continued to weigh on sentiment within the market. While the Evergrande situation somewhat resolved itself, for the time being, the government crackdown on unregulated DeFi platforms and stablecoin transactions continues. This has resulted in cross-chain equipped layer-one protocols and layer-two solutions …

Ethereum's native token Ether (ETH) is at risk of falling below $3,200 in the coming sessions as its rally comes face-to-face with a strong resistance zone. In detail, the price of Ether swelled by almost 22% on a month-to-date timeframe in the wake of a market-wide price rally. That pushed the second-largest cryptocurrency by market capitalization from under $3,000 to above $3,650 in the first eight days of October, triggering more bullish forecasts. "Six thousand dollars will happen fast; $10,000 is programmed," noted Twitter-based technical chartist Crypto Cactus. David Gokhshtein, CEO of distributed data network PAC Protocol, predicted a $10,000 …

Shiba Inu (SHIB) has emerged as one of the best investments heading into the fourth and final quarter of 2021, with its price rising by over 390% in the first week of October. Nonetheless, the spin-off meme cryptocurrency now risks wiping most of those gains in the coming sessions. Yuriy Bishko, a Ukraine-based market analyst, discussed the potential bearish scenario based on Shiba Inu's recent price trends, which appear eerily similar to those recorded in the Dogecoin (DOGE) market earlier this year. For instance, SHIB's October price rally followed five months of consolidation inside a $0.00000398-wide price range. Similarly, DOGE's …

Bitcoin (BTC) derivatives traders on the Chicago Mercantile Exchange (CME) missed out on incredible profits as BTC’s spot price smashed through $55,000 this week. Retail investors reduced their long exposure across the Bitcoin futures and options markets in late September, according to data shared by Ecoinometrics. The amount of open short positions also climbed, indicating that derivative traders anticipated Bitcoin’s price to drop, as shown in the chart below. The data was taken on Sept. 28, when BTC price had fallen below $41,000 on Coinbase — down almost 23% from its month-to-date high near $52,950. The drop surfaced in the …

EOS (EOS) began a descending trend 53 days ago and despite the recent 27% weekly gain, the altcoin is not showing any signs of a reversal. As a result, investors are questioning whether the former top-5 cryptocurrency has what it takes to turn around after Daniel Larimer, CTO of the development company behind EOS, resigned in late 2020. The emergence of competing proof-of-stake smart contract platforms like Solana (SOL), Polkadot (DOT) and Avalanche (AVAX) possibly weighed on this 2017-era project. One potentially bullish catalyst could be the fact that Block.one, the company responsible for the EOS token launch, owns over …

Every week, subscribers of Cointelegraph’s Markets Pro data analytics platform receive a detailed breakdown of the top performers of the week and the VORTECS™ Score indicator’s performance in tracking potential bullish and bearish developments. Here are some of the highlights of the latest report: Axie Infinity Shard (AXS) recorded a new all-time high following a strong VORTECS™ Score. Three out of ten top price movers flashed a VORTECS™ Score of 80 or higher before peaking. NewsQuakes™ alerts gave traders an early signal for NEAR’s and RAY’s double-digit rally. The all-time top VORTECS™ Scorers’ average gains against Bitcoin (BTC) demonstrated that …

Cryptocurrency markets rallied 12.5% over the past seven days to reach a $2.44 trillion market capitalization. However, that move doesn't seem to be inspiring confidence because the same level was tested 16 days ago when a 27% retrace followed Ether's (ETH) attempt to break $3,650 over the next six days. Regulation seems to be a key concerning factor for buyers as the United States House of Representatives is expected to vote on the $1 trillion infrastructure bill this month. In addition to defining who qualifies as a broker, the legislation would impose anti-money laundering (AML) and know-your-customer (KYC) type requirements …