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برچسب: Analysis

  • Dogecoin Price Analysis: False Breakout Could Trigger Rally, Despite Bearish Indicator


    A well-known cryptocurrency expert anticipated an upward trend for Dogecoin on Tuesday, after a false breakout in the dog-themed memecoin’s trend. 

    What Happened: A user on X named Trader Tardigrade, who is known for being very positive about Dogecoin, noticed that the coin made a fake breakout for the first time since December 2024.

    “It is remaining above the support zone for days, verifying the traits of a failed breakout,” the chartist mentioned. “A new DOGE rally could start from this failed breakout.” 

    False Breakout in Dogecoin

    False breakouts happen when the price moves in a way that makes traders assume that a trend is changing, but then quickly reverses, causing big price changes in the reverse direction. In this example, Trader Tardigrade pointed out that Dogecoin stayed above the support level of $0.153, which led them to predict a price turnaround and a potential rise.

    dogecoin price analysis

    The positive outlook was reflected in DOGE’s future market as well. Around 55% of Binance traders with open DOGE positions were in the market, indicating anticipation for a recovery, according to the Coinglass data. 

    On the other hand, the Awesome Oscillator, a popular tool for tracking market momentum by comparing recent and past price movements, showed a “Sell” signal for Dogecoin, according to TradingView. Also, the Relative Strength Index, which helps identify whether a market is overbought or oversold, was showing a “Neutral” signal at the time.

    Why It Matters: The predictions surfaced as Dogecoin dropped overnight on Tuesday; the drop came during a wider market correction as the cryptocurrency market followed the stock futures, which dropped when news came out that China had imposed new restrictions on Nvidia’s chips.

    According to IntoTheBlock, High-value transactions worth above $100,000 surged 41% in the past 24 hours, while the daily engagement address count increased 35%. 

    Price Action: At the time of reporting, Dogecoin was transacted at $0.1558, which dropped 2.45% in the past 24 hours. So far this year, the meme coin has fallen by 51.96%.

    Read also:- Mantra CEO Commits to Burning $236M in Tokens After OM Price Plunge

    Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice, and viewers should consult their financial advisors before investing. 

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  • XRP Technical Analysis: Is XRP On The Verge Of A Bullish Reversal?


    Main Takeaways:-

    • XRP has approached a downward trend line many times since January 2025; still, it is approaching the level with a powerful upward trend.
    • Volume is surging, and the market mood is changing as XRP is close to the $2.15-$2.20 supply zone.
    • A validated breakout over the trend line might push XRP in the direction of the $3.50-$4.50 range, reflecting late 2024 upward levels.

    XRP Price Chart Shows Classic Reversal Patterns

    An expert named Stephi’s Crypto noticed a textbook bullish trend reversal on the XRP price 24-hour chart.

    The downward trend line that started in January 2025 has been stopping price increases. However, recently, Ripple has been pushing against this level with more strength. When the price gets squeezed near resistance, it usually means selling pressure is weakening, and a breakout may be more likely.

    The pattern indicated an increasing demand. Volume gradually increased as rising candles indicated stronger closes, showing that buyers were taking charge. 

    XRP Technical Analysis: Is XRP on the Verge of a Bullish Reversal? 1

    The critical breakout level between $2.15 and $2.20 contained several resistance levels. If the price closes above this level on a daily chart, it could confirm the bullish trend and push XRP toward the $3.50–$4.50 range.

    Price Breakout From Falling Wedge Pattern Signals New Move

    In addition, crypto expert CryptoToes disclosed that the Ripple token has broken above a downward trend pattern in the daily chart. 

    Falling wedges usually signal a price increase or continued uptrend when the price closes above the top line of the pattern. XRP’s move above $2.10 confirmed this signal. 

    The Parabolic SAR shifted from negative to positive just as the XRP price finished above the resistance line of the wedge. 

    XRP Technical Analysis: Is XRP on the Verge of a Bullish Reversal? 2

    Increased trading volume came with this move, confirming the breakout’s strength. In the past, XRP price dropped from a comparable wedge pattern, causing a rapid price surge when backed by strong volume. 

    The price broke above a resistance level that had stopped gains for months. The chart pattern, indicators, and price movement all supported the idea that the price might keep going up.

    The next areas noted range from $3.00 to $4.50, depending on wedge price targets and previous resistance levels. 

    Resistance Zone at $2.15–$2.20 Takes Centre Stage 

    Significantly, as the XRP prices surged, experts shifted focus to the $2.15–$$2.20 level. This area combined multiple technical factors, a falling wedge pattern at the top, a downward trend line, and resistance around an important round number.

    XRP Technical Analysis: Is XRP on the Verge of a Bullish Reversal? 3

    For buyers to keep the momentum going, the Ripple token wants a daily settlement above this area.

    Additionally, indicators strengthened the bullish argument. The Relative Strength Index (RSI) boosted higher but is still under the high price zone, indicating potential for additional growth. 

    At the same time, the MACD histogram bars turned green, and the MACD line crossed above the signal line, indicating a bullish signal.

    XRP Price Structure Shifts, Momentum Begins to Build

    In addition, the XRP price chart indicates the signals of a fundamental change. The long period of decline seems to have turned into the beginning of a new trend.

    Rising lows had developed since late March, showing a shift in market conditions. The price breaking out of the falling wedge pattern and bouncing back from the $1.80 level showed that buyers were interested.

    The top altcoin sustained a trading value of $2.12, which showed a 16.39% surge in the previous week. Even though the market cap and volume dropped a bit, the price has stayed strong above the $2.10 level.

    Read also:- Dogecoin Price Analysis: False Breakout Could Trigger Rally, Despite Bearish Indicator

    Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice, and viewers should consult their financial advisors before investing. 

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  • Deep Analysis: What Triggered The OM Sell-Off


    The latest OM crash has caused confusion in the community. In a sequence of sudden sell-offs, $5.5 billion was wiped out. Several reports say the incident happened because one trader tried to control prices on two different exchanges.

    This complete situation indicates the weakness in various crypto projects. Even though it seemed to have a large market value, a small amount of available money caused the whole thing to crash.

    Analysing the OM collapse

    When the MANTRA’s OM token crashed at the beginning of the week, it raised many unresolved questions. It triggered accusations of misconduct, and allegations of insider activity have followed the company since.

    A new report says that the OM crash started because of one trader:-

    He said, “This happened because of one or more players in the Binance perpetual market. They caused the whole chain reaction. The first drop below $5 happened when someone sold a short position worth about $1 million. This caused a price change of more than 5% in just a few microseconds. It looks intentional to me. They knew exactly what they were doing.”

    om market crash

    After sparking this first irregularity, this OM trader constantly liquidated short positions every five-second period, which controlled the whole collapse. As there is constant liquidity on Binance, the OKX spot market observed a discount of close to 20%.

    Seller Successfully Finds Exit Liquidity

    This unusual activity on OKX was caused by a very large trader. A limit sell order means the seller sets the lowest price they’re willing to sell their crypto for. The sale only happens if the market price goes that high or higher. If not, the order just stays open and waits in the system.

    This trader independently maintained the price on OKX for more than a minute, triggering market makers and arbitrage bots to purchase the assets despite widespread panic selling. Through this technique, the lawbreaker was able to discard OM tokens while the collapse was in progress. 

    The problem is not that OM crashed because of someone trying to cause a crash. The real issue is that one person or group was able to control the market so completely.

    For this kind of attack to succeed, OM’s market worth had to be much weaker than people expected.

    Basically, even though OM’s market cap was extremely high in theory, it took a relatively low investment to make the RWA token unsteady and vulnerable. Some have been thinking that this trader was not trying to spark turmoil. 

    Instead, they were likely investors who had to sell because of loan rules or risk limits. A small amount of market manipulation might have caused a much bigger problem.

    Read also:- Bitcoin Price Remains Stable: Trump Warns of Removing Federal Reserve Chairman Powell

    Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice, and viewers should consult their financial advisors before investing.

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