Polygon (MATIC) reached lofty price levels this July 14, a day after getting selected for the Walt Disney Company's benchmark business development program. MATIC's price surged 22.5% to $0.657 a token, its highest level in a month. In doing so, the token also climbed above its 50-day exponential moving average (50-day EMA; the red wave), a curvy resistance level that had been capping MATIC's upside attempts since January 2022. Polygon enters the Disney World MATIC's move upside appeared synchronous with similar intraday recovery actions witnessed elsewhere in the crypto market. Nonetheless, Polygon fared better than most of its top-ranking rivals, …

Dogecoin (DOGE) has missed a much-anticipated technical upside target and is down nearly 10% over the past week amid an ongoing spat between Elon Musk and Twitter. Musk hurts DOGE price To recap, Musk, whose companies Tesla, SpaceX and Vegas Loop accept DOGE payments, had suggested introducing the same checkout option on Twitter this April. Bitcoin spoofs a breakout while Dogecoin jumps on Elon Musk's Twitter takeover news. https://t.co/dlMH5u5jaf — Cointelegraph (@Cointelegraph) April 25, 2022 Nonetheless, the Musk-Twitter deal hturned sour after the billionaire attempted to walk away from his $44 billion takeover bid. In response, the platform has sued …

Bitcoin (BTC) could undergo a massive price recovery in the coming months, based on an indicator that marked the 2015 and 2018 bear market bottoms. What's the Bitcoin Pi Cycle bottom indicator? Dubbed "Pi Cycle bottom," the indicator comprises a 471-day simple moving average (SMA) and a 150-period exponential moving average (EMA). Furthermore, the 471-day SMA is multiplied by 0.745; the outcome is pitted against the 150-day EMA to predict the underlying market's bottom. Notably, each time the 150-period EMA has fallen below the 471-period SMA, it has marked the end of a Bitcoin bear market. For instance, in 2015, …

Solana (SOL) still has room to fall in the near term, but SOL/USD can rally 5,000% if it follows in the footsteps of its top rival Ethereum. That Ethereum 2018 fractal SOL risks dropping to $15 on anticipations it would behave like Ethereum during the market crash in 2018. Notably, Ethereum's native token Ether (ETH) price fell to nearly $79 in December 2018 after undergoing a 95% correction earlier that year from its peak of $1,529. Afterward, it underwent a long recovery, rising nearly 6,000% over the next four years and thus hitting a record high of around $4,950 in …

Bitcoin (BTC) may be down 70% from its November 2021 peak, but its rebound move in the past three weeks is raising the possibility of more upside in Q3. Bitcoin eyes 30% price rally At the core of the bullish argument is a technical pattern called the "Adam-and-Eve double bottom." Notably, the structure appears when the price forms two bottom-and-recovery cycles. The first cycle, called "Adam," features a pointed bottom while the other, called "Eve," is round-shaped. Also, the peaks of both cycles form a common resistance line. The Adam-and-Eve pattern resolves after the price breaks above the resistance line, …

Shiba Inu (SHIB) has grown stronger against its top "memecoin" rival Dogecoin (DOGE) in the last two months, in part due to the token's periodic token burning events and a flurry of project announcements that promises to boost its utility. Why is the SHIB price rallying? In detail, SHIB/DOGE gained a little over 40% after bouncing from 0.0001120 on May 12, its lowest level on record. Coin burn is the most logical explanation behind SHIB's recent rally against DOGE. The process involves sending SHIB tokens to a wallet without a master, i.e., removing them out of circulation permanently against the …

Bitcoin (BTC) has been moving in the opposite direction of the United States dollar since the beginning of 2022 — and now that inverse relationship is more extreme than ever. Bitcoin and the dollar go in opposite ways Notably, the weekly correlation coefficient between BTC and USD dropped to 0.77 below zero in the week ending July 3, its lowest in seventeen months. Meanwhile, Bitcoin’s correlation with the tech-heavy Nasdaq Composite reached 0.78 above zero in the same weekly session, data from TradingView shows. That is primarily because of these markets’ year-to-date performances amid the fears of recession, led by …

Unus Sed Leo (LEO) has not only survived the crypto market bloodbath in the first half of 2022 but has actually posted major gains, bucking the big crypto crash. LEO beats crypto kingpin Bitcoin LEO, a utility token used across the iFinex ecosystem, finished the first half of 2022 against Bitcoin at 32,793 satoshis, up almost 300%. The token also rallied 55% against the U.S. dollar in the same period, hitting $5.80 for the first time since February 2022. In contrast, Bitcoin (BTC) and Ether (ETH), the top two crypto assets by market cap, fell by over 60% and 70%, …

Given Ethereum’s dominance coupled with the current crypto bear market, it remains questionable if L1s will flourish. This was recently highlighted in a Chainalsys blog post entitled “New layer 1 blockchains are expanding the DeFi ecosystem, but no ETH killers yet.” Ethan McMahon, an economist at Chainalysis, told Cointelegraph that Chainalysis published this report to raise awareness for the current L1 ecosystem: While Ethereum allowed decentralized finance (DeFi) to flourish in 2020, a number of layer-1 blockchains (L1s) have since been developed to address the challenges associated with the network. For instance, as Ethereum’s proof-of-work (PoW) consensus mechanism and high …

Ethereum's native token Ether (ETH) fell on the final trading day of Q2/2022, trading in sync with riskier assets amid persistent fears of higher inflation and rising interest rates. And it could result in further declines heading into Q3. ETH price breakdown underway ETH's price plunged nearly 5% this June 30 to $1,044 following a four-day losing streak. The ETH/USD pair has also broken below its interim rising trendline support, which in conjugation with a horizontal trendline resistance to the upside, constitutes an "ascending triangle" pattern. Ascending triangles are bearish continuation patterns when they occur after a sharp downtrend. Therefore, …

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 …