Global financial markets once again find themselves trending lower on June 10 after the Consumer Price Index (CPI) came in at a blistering 8.6% year-over-year increase, the highest print since 1981. The hotter-than-expected CPI print resulted in a collapse of the $30,000 support and Bitcoin (BTC) price sold off to a daily low of $28,852 before dip buyers managed to bid the price back above $29,000. Here’s what several analysts in the market are saying about the outlook for Bitcoin moving forward since there appears to be little relief on the inflation front and the Federal Reserve is still determined …

Solana (SOL) is nearing a decisive breakdown moment as it inches towards the apex of its prevailing "descending triangle" pattern. SOL's 40% price decline setup Notably, SOL's price has been consolidating inside a range defined by a falling trendline resistance and horizontal trendline support, which appears like a descending triangle—a trend continuation pattern. Therefore, since SOL has been trending lower, down about 85% from its November 2021 peak of $267, its likelihood of breaking below the triangle range is higher. As a rule of technical analysis, a breakdown move followed by the formation of a descending triangle could last until …

On June 8, the Ethereum network successfully underwent the merge to become proof-of-stake on its Ropsten testnet, but the news had little impact on ETH price. With the Ropsten upgrade now looking more like a “buy the rumor, sell the news” type of event, most analysts have kept a short-term bearish outlook for Ether price. Let's take a look. Can Ether escape the head-and-shoulders pattern? Pseudonymous Twitter analyst "Cactus" pointed out a bearish head-and-shoulders pattern and questioned whether Ether price would be able to follow the sharp downside that typically follows the completion of the pattern. Cactus said, “This is …

Ethereum's native token, Ether (ETH), looks poised to undergo a sharp upside retracement in the coming weeks after painting a so-called "double Doji" pattern, accompanied by a few bullish technical indicators. Ether strong support confluence meets Dojis To recap, a Doji is a candlestick that forms when a financial instrument opens and closes around the same level on a specified timeframe, be it hourly, daily or weekly. From a technical perspective, a Doji represents indecision in the market, meaning a balance of strength between bears and bulls. So, if a market is trending downwards when a Doji appears, traditional analysts …

Passive income opportunities are one of the biggest draws in the cryptocurrency ecosystem because it gives investors an easy opportunity to grow their portfolio size regardless of the day-to-day price action. The latest token to get a bump in its price after announcing the upcoming implementation of staking is Chainlink (LINK), the decentralized oracle network that provides important off-chain information needed for the proper functioning of smart contracts. Data from Cointelegraph Markets Pro and TradingView shows that since bouncing off a low of $6.67 on June 4, the price of LINK has increased 35% to hit a daily high of …

Bitcoin's (BTC) short-term price action has been dominated by whipsaws that trigger around the $31,000 to $32,000 level and the June 6 reversal at this point triggered a quick sell-off that pushed the price down to $29,200. Surprisingly, on June 7, the price rapidly reversed course as Bitcoin rallied back to $31,500, but given the current rejection at this level, traders are likely to proceed cautiously, rather than expect a quick surge to $35,000. Here’s what several analysts are saying about the short-term outlook for BTC and what support levels to keep an eye on moving forward. A clear redistribution …

“The Market Report” with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts give you the details about Ethereum 2.0, its main competitors, and how they differ from each other. To kick things off, we break down the latest news in the markets this week. Here’s what to expect in this week’s markets news breakdown: Bitcoin ‘Bart Simpson’ returns as BTC price dives 7% in hours: Bitcoin (BTC) price action failed to crack $32,000 and headed back to square one, sparking $60 million of long liquidations in the process. How much longer will we stay in the …

BNB price dropped by nearly 7.3% on June 7 to below $275, its lowest level in three weeks. What's more, BNB price could drop by another 25%–40% in 2022 as its parent firm, Binance, faces allegations of breaking securities rules and laundering billions of dollars in illicit funds for criminals. Bad news twice in a row BNB was issued as a part of an initial coin offering (ICO) in 2017 that amassed $15 million for Binance. The token mainly behaves as a utility asset within the Binance ecosystem, primarily enabling traders to earn discounts on their trading activities. Simultaneously, BNB …

Avalanche’s AVAX token shows signs of continuing its ongoing rebound move as it paints a classic bullish reversal pattern. AVAX price to $35? Dubbed a "double bottom,” the pattern appears when the price establishes a support level, rebounds, corrects after finding a resistance level, pulls back toward the previous support and bounces back toward the resistance level to pursue a breakout. Since May 27, AVAX’s price trends appear like those typically witnessed during the double bottom formation. Specifically, the AVAX/USD pair on the four-hour chart has bounced twice after testing the same support level near $22.25 and now eyes a …

The end of the first week in June brought more pain to global financial markets as the tech-heavy Nasdaq composite closed the day on June 3 down 2.3%, while the S&P 500 shed 1.4% of its value. The cryptocurrency market hasn’t faired any better and data from Cointelegraph Markets Pro and TradingView shows that an early morning attempt to push Bitcoin (BTC) above $30,000 was hit with a wave of selling that dropped it to a daily low of $29,286. Here’s a look at what several market analysts are saying about the outlook for BTC as it remains pinned inside …

May was an incredibly challenging month for the cryptocurrency market as the majority of tokens booked heavy losses as a bear market was confirmed, but not every project dropped back to pre-bull market lows. Chain (XCN), a protocol designed to help organizations launch their own blockchain network or connect with other more established networks, has managed to rally more than 120% since May 19. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.0712 on May 11, XCN has reversed course to hit a record-high at $0.176 on May 31. The three reasons for the …

Bitcoin (BTC) price action has been surprisingly bullish since May 27. Weekends, especially holiday weekends, are notoriously volatile and indecisive, with major whipsaws in price movements being the norm. Even in bull markets, bearish price action is often the norm, but BTC bucked that trend. Bitcoin rallied nearly 11% between May 27 and May 30, moving through the critical $28,600 level to move back above $30,000 to $31,700. The weekly close was the highest close of the past twenty days and it gave bulls the strongest three-day run in over two months. However, macroeconomic fears may weigh on any further …