As Sunday ended, Fantom’s price jumped 8.2% toward a crucial resistance level not seen in four months. The cryptocurrency neared the $0.8 mark for the second time in the last seven days, fueling a bullish sentiment among investors.

Moreover, Fantom has been on a 7-month downtrend since its yearly high of $0.97, currently sitting 23% below it. Market analyst AMCrypto suggested that the cryptocurrency’s downtrend “is now over.�/p> The analyst noted that the token broke above the trendline after surging above the $0.74 resistance level and testing it as support over the last week. However, he highlighted the similarities between FTM’s chart today and before Q1’s rally.

Fantom rose two times to the upper range of its accumulation zone and retraced before its run toward its yearly high. To AMCrypto, FTM could see a final correction toward the $0.70-$0.72 range before rallying 35% toward �1 and above.�/p>

Similarly, crypto investor Rager commented on FTM’s chart strength. To the investor, the token “gives the Solana 2023 pump-like vibes,�suggesting it will “play catch up for the major chains over the next three months.�/p>

FTM’s Price Targets $3

Analyst Altcoin Sherpa shared his thoughts on the token’s future performance. Sherpa considers that Fantom will continue “to grind higher�if Bitcoin’s price remains stable.

BTC’s movements have affected FTM’s price, losing support losing its support whenever the flagship crypto drops. However, Fantom has managed to hold above the recently reclaimed $0.74 mark as Bitcoin dropped 2.2% to the $67,000 support zone on Monday morning.

Meanwhile, other market watchers suggested that FTM will hit a new ATH before its token migration. As reported by NewsBTC, Fantom is set to transition to the Sonic Network between November and December of this year.

Mode, the modular Decentralized Finance (DeFi) L2 network building on the Optimism Superchain, revealed it would implement veMODE for its Season 3, starting October 17.  veMODE is a vote escrow (ve) model was built by Aragon to upgrade the network’s current staking module.

The framework will apply “ve and gauges to a roll-up ecosystemâ€?to introduce a “dynamic governance model that (â€? reduces coordination overhead and drives network growth.â€?/p> Moreover, veMODE will offer stakers rewards for upgrading their staked MODE balance. It will also enable users to continue earning Optimism (OP) and vote for the incentive’s distribution to the ecosystem’s protocols. Stakers will gain more voting power with the ve governance model, first introduced by Curve Finance with its veCRV model. As a result, veMODE will allow stakers to have more influence in governance decisions the longer their tokens remain staked.

The network’s third staking season will run for approximately three months, with six two-week-long epochs. Users can unstake their tokens as they are not locked, but their vote power will reset if they choose to stake again.

Are L2s Gravitating To Optimism?

Mode, powered by OP stack, is working alongside Optimism to build the Superchain. The project is a network of several L2 blockchains “that share security, a communication layer, and an open-source development stack,�aiming to eliminate the necessity of bridging or switching networks.

This year, Sam Altman-backed Worldcoin, now rebranded as World Network, announced its upcoming L2 network would also use OP Stack after migrating the protocol to the OP mainnet last year. World’s World Chain is set to “bring all humans on-chain�and work within the Optimism Superchain at launch.

OP Labs has managed to bring together top teams like Base, Sony, Uniswap, and World to collectively contribute to the Superchain which is beginning to have an incredible network effect as more and more top teams are joining the Superchain to build it out together.

In the last 30 days, Popcat has seen a 108% surge, hitting three new ATHs since breaking the $1 barrier. After reaching its latest ATH of $1.56 a week ago, the cryptocurrency has been on a 7-day downtrend.

On the last day, the cryptocurrency retested the trendline twice after surpassing the $1.4 mark. A successful reclaim of this zone could propel the price toward a new ATH.

A market watcher considers that if Bitcoin’s price holds, Popcat should successfully break this level by next week. It’s worth noting that the cat-themed token followed BTC’s lead on Friday morning, surging 2.4% as the flagship cryptocurrency neared the $69,000 mark.

Is A Correction Looming?

Crypto analyst Sanchez noted that the memecoin’s price was “running flat�in the four-chart on Friday morning. To the analyst, the cat-themed token’s performance “looked good�for another leg up but suggested the possibility of another correction ahead of the breakout.

Ideally, we get a good reaction around ~1.29 to make the C more complete, and the cat starts popping again

A drop from the $1.3 mark could send Popcat’s price toward the $1.1-$1.0 mark. Trader Crypto Tony suggested that the cryptocurrency could see a retest of the monthly opening of around $1.01 in case of a rejection.

Analyst CryptoGodJohn stated that the cryptocurrency “looks like it wants new ATHs and beyond this weekend�following its recent performance. Additionally, crypto trader Bluntz noted that Popcat’s price could achieve a 30% surge toward a new all-time high.

To Bluntz, a rise toward the $1.7 mark might be coming short-term after “getting real close to a biddable level�this week, but “would like to see one more sweep.�/p> As of this writing, Popcat trades at $1.41, an 8.3% surge in the weekly timeframe. ]]> 648797 //uniquehot.com/news/ethereum/ethereum-eth-about-to-catch-up-on-btc-is-it-ready-to-reclaim-3000/ Thu, 17 Oct 2024 08:00:42 +0000 //uniquehot.com/?p=648385 Ethereum Getting Ready To Challenge BTC

This week, Ethereum has successfully reclaimed the $2,500 support zone following the market’s recent performance. The second-largest cryptocurrency by market capitalization has seen an 8.6% increase in the last seven days, moving from the $2,300-$2,400 range to the $2,600 mark.

Market analyst CryptoWolf pointed out that Ethereum has been rejected from the local top around this level twice since August’s market crash, making it the next big resistance to break.

However, once the zone is cleared, ETH’s price is “heading straight to the 3500s�since the analyst considers that the $3,000 mark “won’t stand a chance.�Similarly, crypto analyst Alex Clay suggested that the King of Altcoins is about to “catch up on BTC�and rise toward $3,500.

Tony Research stated that the chart “suggests that altcoins are currently cheap relative to Bitcoin. An increase in this chart will positively affect altcoins and their prices.�As the investor pointed out, altcoins could see significant growth during Q1 2025 since Q4s have historically been Bitcoin’s best time to grow.

ETH Attempts Breakout From Bullish Pattern

Analyst Crypto Yapper noted that Ethereum is trying to break from its consolidating formation. The cryptocurrency has been within a three-month symmetrical triangle pattern, and it attempted to break above the upper trendline on Tuesday.

Yesterday, ETH rose momentarily above the trendline after hitting $2,688 but quickly retraced to $2,550. Ethereum tried another breakout from the symmetrical triangle upper trendline on Wednesday, surging above $2,630 before settling around the $2,600 support zone.

Meanwhile, season trader Peter Brandt recently highlighted an inverted Head and Shoulders (H&S) pattern on ETH’s chart. The trader signaled that an H&S bottom is forming, also suggesting a massive breakout might be imminent.

Polkadot has registered a 10.9% increase in the last week following the market’s performance. DOT jumped from the $4.32 support zone to the $4.53 mark before retracing, registering a 4.8% daily surge in the early hours of Tuesday.

Market analyst CryptoBull360 stated that Polkadot is “getting ready for a massive breakout�from the bullish pattern after a long consolidation period. DOT has been moving within the falling wedge for the past seven months, consolidating between $4-$4.8 since August’s Black Monday.

CryptoBull360 expects a retest of March highs if the token successfully breaks out of the falling wedge. To him, a 160% surge for the midterm is imminent, which would target the $11.46 yearly high.

Is DOT Preparing To Reclaim $20?

Crypto analyst Ali Martinez suggested that Polkadot could “be following Fantom’s footsteps.�Per the post, DOT’s chart looks similar to Fantom’s before its March performance.

Despite the bullish forecasts, some investors remain cautious about Polkadot. A crypto trader noted that DOT followed Bitcoin’s lead like most of the market. The cryptocurrency surged to its daily high of $4.53 as BTC retested the $67,000 resistance level.

However, DOT quickly fell to Monday’s levels as BTC was rejected from its resistance zone. The trader questioned DOT’s 24-hour trend, stating, “BTC stops pumping, DOT rises a few percent, while most things don’t rise, as soon as it gets going, the entire market falls and DOT immediately loses everything it had previously gained.â€?/p> As of this writing, DOT is trading at $4.42, a 2.2% increase in the daily timeframe. ]]> 648193 //uniquehot.com/news/bitcoin/bitcoins-road-to-70000-analysts-set-next-targets-as-btc-retests-key-levels/ Tue, 15 Oct 2024 09:30:08 +0000 //uniquehot.com/?p=647928 Bitcoin Reclaims Key Support Levels

Bitcoin began the week reclaiming key resistance levels after a 6% surge from Sunday’s price. This performance saw BTC move from the $62,000 support zone to retest the $66,000 support area on Monday morning.

Following the recent performance, Bitcoin’s October returns so far have turned green with a 3.17% monthly return, according to Coinglass data. Crypto analyst Rekt Capital highlighted Bitcoin’s recent movements, noting that BTC has been able to reclaim a 2-month downtrend as support.

Per the analyst, the flagship cryptocurrency has retested a downtrend line dating back to late July since October started. BTC successfully retested and bounced from the trendline for two consecutive weeks, turning the range into support.

Similarly, Ali Martinez highlighted that BTC is currently making another attempt to reclaim the 200-day Moving Average after four consecutive rejections in the past two months.

BTC Challenges August Highs

Rekt Capital noted that BTC has solidified the $58,000-$61,000 range as a support area throughout the year: “It has done so at a Higher Low compared to last month’s downside wicking lows as well as August’s downside wicking lows.â€?/p>

Moreover, the analyst stated that Bitcoin challenged August highs, at around $64,200, after the recent retests of the key levels. He suggested that BTC’s recent movements are a “clear sign�that August’s level is “weakening as resistance.�/p> Rekt Capital pointed out BTC is retesting the multi-month weekly downtrend channel top, which is also weakening as resistance. The flagship cryptocurrency successfully tested the channel’s range lows as support this month.

The range lows have been 7-month confluent support with the previous all-time high (ATH) area. Nonetheless, the analyst noted that BTC must have a weekly close above the downtrend channel’s top to break out of this pattern.

Moreover, a daily close above $65,000 and a successful reclaim of the range as a support zone could send BTC’s price toward the $70,000 resistance zone. The analyst noted that whenever Bitcoin closed the day above this level, the cryptocurrency moved within the $65,000-$71,350 range in the following days.

However, the token’s Q3 retraces didn’t alarm many investors who considered Celestia’s on-chain developments a potential bullish sign. Since then, the cryptocurrency has seen a 40.1% monthly increase, fueling the bullish sentiment among the community.

This performance crowned Celestia as the largest gainer among the top 100 cryptocurrencies by market capitalization, only followed by Worldcoin (WLD), Dogwifhat (WIF), and Popcat (POPCAT).

Is A Big Move Coming For TIA?

Several market watchers note Celetia’s performance, suggesting that the cryptocurrency’s chart hints a breakout may be around the corner. To crypto analyst Yuriy, TIA’s performance indicates a “big move is coming,�remarking that its open interest (OI) significantly increased in the past month.

Meanwhile, crypto analyst Poseidon noted TIA’s 80% correction, asserting that we might be near the end of the “brutal downside trend.�To the analyst, the price’s 4-month range between $4-$7 looks like a potential bottom, which could signify the ongoing bullish momentum will continue.

Youtuber Crypto Jack noted that Celestia’s bounce from the $4.5 support zone targets the upper trendline of its 4-month consolidation range. To the analyst, the bullish momentum could send TIA above the $7 resistance level this month.

Other analysts called it one of “the most tempting altcoins to buy,�setting targets above $10 for Celestia. Nonetheless, some noted that the upcoming token unlocks, set to start on October 30, could negatively impact TIA’s price.

On Thursday, Charles Hoskinson addressed the adverse response towards Cardano in an X post. Hoskinson noted that the crypto community’s sentiment about the project has lately been more negative than usual.

However, he argued that Twitter’s sentiment change isn’t a reflection of the project failing “but rather the desired result of Voltaire.�Cardano’s “Voltaire�era is set to turn the network into “the most advanced blockchain governance system,�focusing on decentralized governance and its future sustainability.

Short-term thinking, market manipulation, and companies seeking a handout have no role or place here. That’s the difference that makes a difference.

Lastly, Hoskinson remarked that the project is not dying but “thriving and growing.�He that ADA is one of the last cryptocurrencies still wanting to be a real crypto instead of “the patron of Blackrock and Wall Street for number go up preferences.�/p>

ADA Could See A 10% Drop Soon

Meanwhile, part of ADA’s community agreed with Hoskinson, concurring that “it is the only chain that has truly built what I can only see as the groundwork to deliver on the promise of crypto.�/p>

Despite the ongoing criticism, some market watchers remain bullish about ADA’s future price action. Crypto analyst Dan Gambardello recently predicted that the cryptocurrency will “easily�reclaim the $1 mark before year’s end.

To Gambardello, the exponential surge “could happen fast�and leave many “flabbergasted.�Additionally, he stated that after the 200% surge, ADA’s potential targets of $5 and $10 would “look more realistic.�/p>

Conversely, crypto analyst Sebastian warned about a key level to watch for following ADA’s recent performance. Earlier this week, the analyst highlighted that ADA showed signs of a breakout after retesting the trendline it had recently broken above $0.35.

However, the cryptocurrency’s price dropped 2.9% in the last 24 hours, falling below the $0.34 mark. The analyst signaled that ADA must hold the current levels as failing to bounce from the $0.335 level could send the token to a retest of the $0.30 support level.

On-chain data analysis firm SpotOnChain revealed that Alameda Research has sent part of its WLD holdings to crypto exchanges for the past two months. The report shared that, since early August, FTX’s sister company has transferred 1.56 million WLD tokens to Binance.

The firm has sent around 143,770 WLD tokens, worth around $2.51 million, every week since August 9, selling the tokens in 10 batches at an average price of $1.6. The news came two days after US Bankruptcy Judge John Dorsey approved FTX’s repayment plan.

The wallet holds $98.8 million in other cryptocurrencies, including 100.9 million Stargate Finance (STG), 1.78 million Mantle (MNT), and 98.86 million BitDAO (BIT), now MNT. The company’s BIT holdings, valued at $68 million, could start being sold in November, as the 3-year no-sale commitment with BitDAO ends.

WLD Price Reacts To The News

The cryptocurrency registered a remarkable 31% weekly surge in late September after Worldcoin announced its expansion to three new countries. As reported by NewsBTC, the crypto project revealed it was bringing its World ID services to Guatemala, Poland, and Malaysia.

Crypto analyst Yuiry from BikoTrading noted that WLD’s price retested the $1.5 crucial level after October 1’s drop, bouncing around 33% from this level. As the token continues trying to retest the $2 resistance level, the analyst expects it to move within its new $1.8-1.98 range for a few days before breaking above it.

Qiao Wang, co-founder of Alliance DAO, shared his thoughts on the market dynamics that led to each cycle’s top narrative. In the X post, he noted how there’s “an opportunity for retail to outperform professionals�every cycle.

The alpha is for retail to get involved at a time when there’s too much career risk for professionals to get involved.

Solana and the “intersubjective culture coins,�as Wang called memecoins, have dominated the ongoing cycle. The meme-based tokens�popularity has often been criticized for a lack of utility and “substance,�frequently resulting in a “quick buck�for their creators and a few early buyers.

As reported by NewsBTC, crypto traders Ansem and Kel debated the value of memecoins in the Unchained podcast. In the interview, the traders explained there’s value in memes and culture on the internet, which makes a comparison with other altcoins “pointless.�/p> They added that the crypto community is “very internet-centered�as its members understand the financial aspect and are very knowledgeable about online culture. As such, crypto investors realized there’s an opportunity to “financialize�meme virality in the industry.

Additionally, they pointed out that the “shared experience of relating�is another crucial factor driving the craze of meme-based tokens, as seen with the communities of Solana-based memecoins like dogwifhat (WIF) and Popcat (POPCAT).

Memecoins ‘Absorbed’ The Market’s Energy

On Sunday, Chris Burniske, the co-founder of Placeholder, also took X to weigh in on the memecoins frenzy. To him, “Memecoins�tendency to trigger is all you need to observe to know they’ll be bigger than we expect in the expansion ahead.�/p> In the post, Burniske revealed that he considers the “trend is clear�as the cultural relevance NFT collections had in 2021 will be surpassed by some of the memecoin sensations of this cycle.

It is worth noting that, on October 7, the total market capitalization of Solana memecoins surpassed $10 billion, as SolanaFloor reported.

Solana co-founder Anatoly Yakovenko replied to Burniske, sharing his theory for why memecoins became the leading narrative. Yakovenko considers that the previous cycles “were also 90% memes and 10% products.�/p>

However, he suggests that today, the sector has monopolized the energy that propelled different narratives during other cycles: “My theory is that memecoins today have completely absorbed the meme energy that drove other cycles, like DeFi summer,�Solana’s co-founder noted.