A sharp reversal in the price of Bitcoin (BTC) out of an otherwise bearish technical setup has raised its chances of reaching $58,000 in Q2. Bitcoin price bottoming out? On the daily timeframe, Bitcoin broke out of its ascending triangle on March 27 to the upside, bringing the much-anticipated level of $50,000 within its range. Interestingly, ascending triangles are continuation patterns, meaning they typically resolve by sending the price in the direction of its previous trend once it breaks out of their tightening range. Bitcoin, which was trending downwards before forming an ascending triangle, avoided further downside. Instead, it managed …

It took Ethereum's native token Ether (ETH) only two months to recover from a brutal selloff at the beginning of 2022. ETH price breaks out but risks remain ETH price reached near $3,350 on March 28 after rallying by over 30% in just two weeks, and by more than 50% when measured from its year-to-date low of around $2,160, established Jan. 24. In doing so, the ETH/USD pair may have also "busted" what earlier appeared to be a bearish continuation setup, called the "symmetrical triangle." "Busted patterns (when the breakout is in one direction only to see price reverse and …

A brutal correction witnessed in the Dogecoin (DOGE) market between May 2021 and February 2022, which saw the price dropping by almost 85%, appears to have come to a halt this month. DOGE/USD rebounds 30% in two weeks DOGE experienced strong dip-buying when its price crashed to levels around $0.10 two weeks ago, resulting in a 30% rebound move to $0.14 as of March 27. Meanwhile, the coin's upside retracement originated at a support level that constitutes a "falling wedge" setup, signaling an extended bullish reversal in the weekly sessions ahead. In detail, a falling wedge pattern occurs when the …

Cardano (ADA) inched higher on March 25, putting itself on course recoup a great portion of losses that it had incurred in the first two months of this year. Not so bullish yet ADA's price jumped by around 7.5% in trading Friday, reaching $1.19 over a month after bottoming out at around $0.75. The Cardano token's huge rebound move netted around 60% in gains. Nonetheless, it remained at the risk of losing its upside momentum in the coming weeks. At the core of this bearish analogy is a multi-month descending channel pattern, with a reliable track record of causing and …

MINA, a utility token backed by a "lightweight" smart contracts platform of the same name, continued its upside move nine days after rebounding from $1.58, its lowest level to date. The coin rallied by about 75% to reach $2.75 as of March 24 as traders weighed a high-profile funding rounds involving the sale of $92 million worth of MINA tokens to Three Arrows Capital, FTX Ventures, and other venture capitalists. An overall recovery sentiment across the crypto market also assisted in pushing MINA's price higher, since altcoins typically move in tandem with Bitcoin (BTC). Additionally, Coinbase's announcement on March 23 …

ApeCoin (APE) continued its rebound move Thursday as the firm behind it raised hundreds of millions of dollars in a funding round led by Andreessen Horowitz. APE's price surged 7.5% intraday to reach around $14.50 per piece. Notably, the token's upside move came as a part of a retracement rally that started at the beginning of this week when it was changing hands for as low as $9.50. That pushed APE's week-to-date profits up by 50%, making it one of the best-performing digital assets since March 21. Big VC booster To recap, ApeCoin digital currency came to existence on March …

The price of Internet Computer (ICP) reversed directions after falling to its record low near $14.50 on Feb. 24 and has rebounded by more than 30% ever since. And now, it appears the 35th-largest digital asset by market capitalization has more room to grow in the coming weeks. ICP breaks out of 'falling wedge' ICP's daily chart shows a falling wedge pattern — a setup consisting of two descending, converging trendlines connecting lower highs and lower lows. The intersecting nature of the two lines indicate a weakening bearish momentum. As such, traditional analysts anticipate a breakout out of a wedge …

Ethereum Classic (ETC) price climbed on March 22, ignoring a deadly "death cross" on the weekly chart, as traders raised their bets on its potential to become a haven for miners fleeing the rival Ethereum blockchain. ETC's price jumped over 15.5% to reach $44 a token for the first time since Dec. 9, 2021. The coin's intraday gains came as a part of a broader rebound move that saw its price rallying more than 75% eight days after bottoming out near $25. Most of ETC's course to the upside saw it tracking general crypto market trends. For instance, the Ethereum …

A technical setup that preceded a circa 80% price rally in the Terra (LUNA) market in August 2021 has appeared again. LUNA paints bullish MACD crossover The technical setup involves a so-called "signal line crossover" between LUNA's weekly MACD line — equal to the difference between the token's 12-week and 26-week moving averages (MA) — and the 9-week MA called the Signal Line, plotted above the zero line, as shown in the chart below. Together, these lines represent Moving Average Convergence Divergence (MACD), a momentum oscillator to determine a market's direction and momentum. So, if the MACD line crosses above …

The amount of Ethereum's native token Ether (ETH) kept with crypto exchanges has fallen to its lowest levels since September 2018, signaling traders' intention to hold the tokens in hopes of a price rally in 2022. Notably, nearly 550,000 ETH tokens — worth around $1.61 billion — have left centralized trading platforms year-to-date, according to data provided by Glassnode. The massive outflow has reduced the exchanges' net Ether balance to 21.72 million ETH, down from its record high of 31.68 million ETH in June 2020. Biggest weekly ETH outflow since October 2021 Interestingly, over 30% of all Ether's withdrawals from …

A sharp upside retracement in the Avalanche (AVAX) market this week has raised its possibilities to rise by another 100% in Q2. Avalanche chart painting a 'bull flag' The bullish outlook primarily appears in the wake of AVAX's multi-month bull flag setup, which formed after a strong price move higher to over $150, an all-time high in the Avalanche market. In detail, the setup is a downward sloping channel, denoted by two parallel trendlines against the previous trend, with volumes declining to underscore a weakening downtrend. In a perfect scenario, bull flags resolve with a breakout move above their upper …

Bitcoin (BTC) could undergo one last bear market capitulation if "whales" — addresses that hold more than $1 million worth of Bitcoin — ramp up their selling pressure, according to on-chain analyst Willy Woo. Room for another Bitcoin drop? Woo assessed the average price at which short-term investors entered the Bitcoin market across history and charted the daily change in the value. That resulted in a cost basis, a metric that signals when "inexperienced" traders sell BTC to "experienced" traders during a BTC free fall, which typically coincides with the market bottom. The cost basis underwent significant dips during the …