Shiba Inu (SHIB), the popular memecoin, is back in the news after a crypto expert issued a bold projection predicting a tenfold growth in its market capitalization. Zach Humphries outlined certain hopeful variables that might propel SHIB to a market capitalization of $100 billion, bringing its price to $0.000171—a whopping 890% increase over present levels. Humphries, who has built a reputation for his memecoin market observations, feels SHIB’s surge is a real possibility, despite its present low price. In his most recent research, Humphries focuses on the factors that he believes are SHIB’s most fundamental assets. Among these are its brand strength, loyal community, and the potential return of retail investors who may be willing to take another risk in the memecoin space. Brand Power & Community Support Humphries believes that SHIB’s excellent brand recognition contributes significantly to its attractiveness. Shiba Inu has made a name for itself in the world of memecoins, thanks in large part to its passionate community. Even after the 2021 rally waned, SHIB supporters remained engaged, helping to keep the organization relevant in a very competitive sector. Humphries claims that this brand strength, paired with SHIB’s established status in the meme token market, provides it an advantage that fresher tokens lack. Humphries also notes that for many first-time investors, a well-known token like Shiba Inu may appear to be a safer bet in the volatile world of cryptocurrency. With increased demand, particularly if the broader cryptocurrency market becomes positive, SHIB’s price and reputation might skyrocket. According to Humphries, this flood of new investment could be what propels SHIB toward its $100 billion goal. Another Analyst Predicts 200% Rise Analyst “World Of Charts” provided a technical forecast alongside Humphries. They observed a new breakout in SHIB, suggesting a 200% increase that might bring it closer to yearly highs. SHIB’s rebound to $0.00001784 has traders hopeful for future gains. World Of Charts now sees that the breakout of SHIB over the key resistance trendline is another stimulus for further growth. This technical setup with the pattern of the descending expanding wedge makes SHIB jump again if the breakout is sustained. Can Shiba Inu Hit The Target? Humphries and World Of Charts paint a bright picture but not before it sets out difficulties ahead. A market capitalization of $100 billion is too ambitious, particularly for a memecoin, and would require sustained, continuous growth to make that possible. Featured image from DALL-E, chart from TradingView

On-chain data shows derivatives exchanges have just received large Ethereum deposits, something that could lead to volatility in ETH’s price. Ethereum Exchange Netflow Has Seen A Sharp Positive Spike Recently As explained by an analyst in a CryptoQuant Quicktake post, the Exchange Netflow for ETH has registered a large spike recently. The “Exchange Netflow” here refers to an on-chain indicator that keeps track of the net amount of ETH moving into or out of the wallets associated with centralized exchanges. When the value of this metric is positive, it means the investors are depositing a net number of tokens to these platforms. How these transactions affect ETH depends on the exchange to which the holders are moving coins. In the case of spot exchanges, investors usually make deposits whenever they want to sell, so positive exchange netflows to platforms of this type can lead to a bearish outcome. For derivatives exchanges, which are relevant platforms in the current discussion, the relationship with the price doesn’t tend to be so simple. Holders transfer their coins to these exchanges to open up fresh positions on the derivatives market. As new positions generally accompany some leverage, the overall risk in the sector could be assumed to go up when investors deposit to derivatives exchanges. This can lead to more volatility for the ETH price. A negative Exchange Netflow is usually bullish no matter the platforms involved, as it implies the investors are moving their coins to self-custodial wallets, potentially because they plan to hold into the long term. Now, here is a chart that shows the trend in the Ethereum Exchange Netflow for the derivatives platforms over the last few weeks: As displayed in the above graph, the Ethereum Exchange Netflow has seen a large spike into positive territory recently, which suggests the investors have just made large net deposits to the derivatives platforms. The holders have transferred about 82,000 ETH to these exchanges with this net inflow spree. As mentioned earlier, this trend can lead to higher volatility for ETH. It’s hard to say which direction any emerging volatility might take the cryptocurrency in, as other positive spikes in the last couple of months have proven to be a mixed bag. Given that the latest spike has coincided with a plunge in Ethereum’s price, though, a lot of these may be short positions predicting a further decline. If so, a swing to the upside could lead to liquidating these positions, which would add fuel to the rally. ETH Price At the time of writing, Ethereum is trading at around $2,400, down almost 7% over the last week.

Israel loses billions due to inadequate crypto tax enforcement and mismanagement. State Comptroller highlights significant gaps in crypto tax reporting and collection systems. Israel has reportedly lost billions of shekels in potential tax revenue from cryptocurrencies, according to a report published today by the State Comptroller and Ombudsman. The audit highlights severe lapses in the nation’s approach to taxing digital currencies, revealing an estimated annual revenue loss of NIS 2 to 3 billion from 2018 to 2022. A key finding is that only 0.25% of an estimated 200,000 digital currency holders filed tax returns during this period. The Israel Tax Authority (ITA) introduced a special tax payment procedure on December 31, 2023, enabling direct payments to the ITA’s account at the Bank of Israel. However, this initiative recorded zero participation, exposing significant gaps in the system. Moreover, the report stresses that Israel’s indecision to join the OECD’s Common Reporting Standard (CRS) for automatic exchange of financial information could risk the country’s international standing. The State Comptroller warns that this inaction may lead to Israel being avoided by the OECD, complicating tax enforcement and damaging the nation’s reputation. Report Stresses Strong Reforms The report suggests urgent reforms, urging the Bank of Israel to facilitate tax payments through commercial banks to simplify the process. It also calls for enhanced collaboration among the Bank of Israel, the ITA. And the Money Laundering and Terrorist Financing Prohibition Authority. The State Comptroller underscores the need for the ITA to establish clearer tax regulations for cryptocurrency. Israel has fallen behind nations like the United States, the United Kingdom. And the European Union, which has progressed in crypto regulation. Ultimately, clear regulations are seen as crucial for improving public trust, increasing tax compliance. And positioning Israel as a leader in the crypto economy, while realizing significant tax revenue potential. The report emphasizes that coordinated action is needed to harness the financial benefits of the growing digital asset market. Highlighted News Of The Day Elizabeth Warren Defeats Crypto Advocate John Deaton in US Elections

Solana (SOL) has flipped Binance Coin (BNB) in market cap, claiming the fourth spot in the rankings. Bitcoin’s all-time high of $75,011 has driven a bullish trend around the crypto market. The global crypto market turned bullish in Asian trading hours as Bitcoin (BTC) hit a new all-time high of around $75,011.06, which the cryptocurrency recorded an hour ago. This new turn has sparked optimism and led to a positive note for the altcoins. Among them, Solana (SOL) has surpassed Binance Coin (BNB) in terms of market cap, claimed the fourth spot, and entered the top-tier crypto rankings. Solana’s market cap now stands at $87.9 billion, whereas BNB’s stands at $84.12 billion. Solana’s impressive 17% rally comes from its 24-hour open interest, which surged 24.69%, reaching $3.64 billion. At the time of writing, SOL has surged to an intraday high of $186, inching closer to the $200 level last seen in April 2024, when the market was at its peak. If Solana breaks the $200 resistance, it could be on track to reach its all-time high of $260, a level it recorded back in November 2021. The bullish outlook on Solana and the crypto market was activated by the U.S. election results. According to the report, Donald Trump won the presidency against Kamala Harris. Solana’s Technical Outlook Signals Bullish Momentum The bullish trend is more visible with a strong technical outlook. Zooming in on Solana’s four-hour chart reflects ongoing positive market sentiment, with the asset in a strong position as the daily RSI sits in the 72 range. In strong upward trends, assets can remain in overbought conditions for extended periods. Moreover, the asset’s daily chart indicates the short-term 50-day moving average is above the long-term 200-day moving average, forming a Golden Cross. Further, the Moving Average Convergence Divergence (MACD) indicator for Solana is well above the signal line in the SOL/USDT four-hour trading pair, suggesting a continued bullish trend. Additionally, the Chaikin Money Flow (CMF) line at 0.21, indicates a positive money flow, with buyers currently having the upper hand. Whereas, the trading volume has spiked by 127.06%. With a daily trading volume soaring Solana’s momentum shows no sign of slowing. If it closes above $200, the next targets could be $220 and $246, even pushing toward $260. However, as the RSI enters the buying zone, a short-term pullback or consolidation may occur—but not immediately.

Elizabeth Warren has been re-elected for her fourth term as Senator in the US elections. The Senator has been quite critical of the crypto industry in the past few months. The cryptocurrency market has become a spur of activity as Bitcoin hits a new milestone in ATH. The digital asset surged to the $75K level coinciding with market expectations and much to the joy of investors. US electoral events that influenced BTC price have been causing quite a frenzy instigating new bullish momentums. While Trump is currently leading, in the State of Massachusetts, crypto advocate and XRP supporter John Deaton has lost to Elizabeth Warren. This is Warren’s fourth term in the US Senate, serving in the Democratic party. The senator vetoed several crypto-friendly bills in her previous term and has been intensely critical of the crypto industry. On the other hand, Republican candidate John Deaton had expressed great support for the crypto industry. He also endorsed Ripple in the Ripple Vs. SEC lawsuit. Recently, on October 25, Deaton posted a detailed summary of the SEC’s approach to crypto and criticized the ‘regulation through enforcement’ policy. Thus the victory of Warren over Deaton has led to some uncertainty within the community, although the overall results still show potential for pro-crypto leaders. Moreover, the US elections activity has blown a storm of actions within the global crypto market as several prominent tokens have hit important milestones. Warren Vs. Deaton’s Crypto Stance Senator Elizabeth Warren holds a long history of being anti-crypto with crucial actions. For instance, recently in February, Warren criticized the crypto industry for its ‘promoting illicit activities’. The senator mentioned so while discussing the Anti-Money Laundering bill that introduces stricter regulations for banks dealing with digital assets. Moreover, in the recent debate with Deaton, the Republican candidate highlighted how Warren’s bill banks self-custody of Bitcoin. Additionally, the bill was said to promote banks’ custody of Bitcoin. Moreover, Deaton’s crypto stance caused Ripple founder Brad Garlinghouse to endorse the candidate before the elections. Highlighted Crypto News Today: Bitcoin Hits New All-Time High as US Election Fuels Bullish Momentum

Bitcoin (BTC) hits new ATH at $75K, while Dogecoin (DOGE) claims the seventh-largest market cap. In the last 24 hours, BTC and DOGE saw the largest liquidations at $247.7M and $41.86M, respectively. How Bitcoin (BTC) and the crypto market will respond to the 2024 U.S. Presidential Election results remains a focal point of speculation. However, ahead of the outcome, two key players — BTC and Dogecoin (DOGE) — have charted rallies to prominent price peaks. Notably, the former hit its new all-time high of $75,407 and the latter climbed to its 7-month high of $0.2193. Simultaneously, there has been a massive liquidation of BTC and DOGE positions globally in the last 24 hours. Coinglass data reveals over $259.08 million in BTC and $47.19 million in DOGE liquidations. Why Is Dogecoin Responding So Bullishly? Throughout his campaign, Trump demonstrated his pro-crypto stance, from advocating for “all remaining Bitcoin to be made in the USA” to becoming the first presidential candidate to accept BTC as a payment. On the other hand, his prominent supporter, Elon Musk, the CEO of Tesla, has a long history of endorsing crypto, both directly and indirectly through hints. His tweets have been key catalysts for Dogecoin’s price rallies. In the context of the 2024 US election, DOGE’s price response seems aligned with the “Department of Government Efficiency (D.O.G.E.)” D.O.G.E. is presumably the idea of a new government commission that could be chaired by Elon under Trump’s rule. At present, DOGE exhibits a bullish stride — a 25% pump over the last 24 hours. DOGE flipped Ripple’s XRP and became the seventh-largest cryptocurrency by market capitalization. Moreover, the memecoin has entered an overbought zone, marked by its RSI exceeding 70. Dogecoin (DOGE) Price Chart (Source: TradingView) The current price pumps could either be short-lived or catalyze a prolonged uptrend. But indicators of the upcoming trend post-election results remain uncertain Highlighted Crypto News Today Bitcoin Hits New All-Time High as US Election Fuels Bullish Momentum

Bitcoin reached a new all-time high above $75,000, fueled by election-driven optimism. A bullish moving average crossover and rising RSI suggest continued upward momentum. Bitcoin reached a new all-time high above $75,000 today, marking a pivotal moment in the cryptocurrency market. The price of Bitcoin surged by more than 9%, touching $74,614. This latest rise followed favourable U.S. election results for the crypto-friendly candidate, Donald Trump. With Trump’s odds of winning climbing to 96% on the betting platform Polymarket, traders responded enthusiastically. Bitcoin’s current price rally builds upon a seven-month upward trend, which began when it first broke past its previous high of $69,000 in March 2024. Since then, Bitcoin moved up to $73,000 in March but has remained within a $50,000–$70,000 range. Another factor contributing to Bitcoin’s price growth is its halving event in April 2024, when mining rewards were cut from 6.25 BTC to 3.125 BTC. Halvings historically reduce the rate of Bitcoin supply entering the market, often fueling price appreciation. Additionally, the newly introduced U.S. Bitcoin spot ETFs have attracted considerable investment. Since their launch in January, they have seen over $450 billion in daily trading volume, with inflows reaching $22.5 billion this year alone. However, recent data on ETF flows indicates a mixed outlook. On November 5, U.S. spot Bitcoin ETFs saw net outflows of $72.67 million, marking a three-day streak of withdrawals. Fidelity’s Bitcoin ETF, FTBC, recorded the largest single-day outflow of $68.24 million. Technical Indicators Signal Bullish Momentum for BTC Alongside the election’s influence, technical indicators reveal a strong upward trend for Bitcoin. Currently, Bitcoin’s support level lies near $69,000, which has been tested multiple times as a key floor for price movements. If BTC’s price dips, the next support level stands around $64,000. However, resistance remains a challenge at the $75,000 mark. Should Bitcoin break above this psychological barrier, analysts expect it to target a range between $80,000 and $85,000, marking a potential new price zone. The Relative Strength Index (RSI) sits at 67.76, showing that BTC is nearing the overbought zone but hasn’t yet reached extreme levels. The 9-day moving average recently crossed above the 21-day moving average, confirming a bullish trend. This crossover, combined with a 50-day moving average well below current price levels, suggests sustained bullish momentum. Bitcoin’s rise reflects a combination of election-driven sentiment, strong technical indicators, and growing mainstream adoption. As the market watches for Bitcoin to surpass its $75,000 resistance level, the cryptocurrency appears positioned to break new ground. With the election outcome uncertain and support levels holding steady, BTC continues to showcase its potential as a resilient asset in the digital economy. Highlighted Crypto News Today Bitcoin Nears $70K as US Election Day Sparks Speculation on Trump Win

Ethereum (ETH) stands at a critical turning point, with opinions split on its future performance this cycle. Some analysts argue that ETH will continue to lag, possibly underperforming against other assets like Bitcoin, which has shown strong momentum. However, others are optimistic, believing Ethereum is poised for an aggressive rally, especially if it can establish a solid bounce from current lows. Renowned crypto analyst Ali Martinez has shared a compelling technical analysis, highlighting a correlation between ETH and the S&P 500. According to Martinez, this relationship could signal a substantial upward move for Ethereum, aligning with broader market trends in traditional finance. Martinez’s analysis suggests that Ethereum could be on track for a major breakout if the current setup holds, with a target around the $10,000 mark. As Ethereum trades near a crucial support level, the coming days will be pivotal in determining its direction. With significant upside potential, if a bullish trend takes hold, this moment may define ETH’s trajectory for the remainder of the cycle. Investors are now watching closely, weighing ETH’s next moves against crypto and traditional market cues. Is Ethereum Preparing To Rally? Ethereum (ETH) has been trading precariously around the $2,400 level, with recent dips below this threshold sparking concern among investors hoping for a bullish breakout. This uncertainty has heightened as traders navigate a market riddled with fear, wondering if ETH is about to embark on a long-awaited rally or fall to new lows. Top analyst and investor Ali Martinez has provided an optimistic outlook, sharing a technical analysis on X that suggests Ethereum’s price movements closely mirror those of the S&P 500. According to Martinez, this dip could be the final one before Ethereum experiences a massive upswing, potentially tripling in value to hit the ambitious $10,000 target. Martinez’s analysis taps into broader market sentiment, noting that ETH has shown resilience at key levels and that this correlation with the S&P 500 could indicate strength and stability shortly. As the U.S. election results unfold and the Federal Reserve’s upcoming interest rate decision looms, the potential for volatility remains high. These factors could introduce sharp price swings, driving ETH lower temporarily before it rebounds and gains momentum for a sustained rally. The combination of market catalysts and Martinez’s analysis has sparked cautious optimism, suggesting that while the near-term risk is high, Ethereum could be on the verge of a significant breakout if it holds its ground through the coming turbulence. ETH Testing Crucial Demand Ethereum briefly dipped below the $2,400 mark, a key support level, before rebounding to $2,440. This bounce has given bulls hope, but to maintain upward momentum and challenge the prevailing bearish outlook, ETH must keep rising and target higher supply zones. Critical to this effort will be breaking above the 200-day exponential moving average (EMA) at $2,758—a level that has consistently pushed down price action and acted as a significant resistance since early August. If bulls succeed in reclaiming this EMA, it could mark a shift in momentum, potentially setting up ETH for a stronger bullish trend. However, if ETH fails to hold above $2,400 in the coming days, it risks a deeper retracement. Analysts have identified the $2,220 level as a crucial line of defense. This lower demand zone could provide the final support necessary to prevent further losses, but if breached, it would likely deepen the bearish sentiment surrounding Ethereum’s current price action. This week will be pivotal, as holding above these key levels could provide ETH with the stability it needs to stage a more aggressive push upwards. Featured image from Dall-E, chart from TradingView

As the US presidential election results loom, one analyst is expressing confidence in the continuous surge of memecoins, particularly in the context of the ongoing political landscape. In a recent social media post on X (formerly Twitter), Miles Deutscher asserted that dog-themed and cat-themed cryptocurrencies will continue outperforming the broader crypto market, regardless of whether Donald Trump or Kamala Harris emerges victorious. Dogecoin Leads Memecoins Resurgence On Election Day Bitcoin (BTC), the largest cryptocurrency on the market, is trading near the $70,000 mark, up a modest 2.2% over the past 24 hours, after several failed attempts to break above its all-time high of $73,700 last week. In stark contrast, Dogecoin (DOGE), the leading memecoin by market capitalization, has surged by 12% during the same period, demonstrating the sector’s performance relative to the top ten cryptocurrencies. Deutscher suggests that if Trump wins the election, Dogecoin’s positive momentum will likely increase. He cites Trump’s proposed Department Of Government Efficiency (DOGE) initiative, which he believes will increase Dogecoin’s visibility and liquidity, as a catalyst that could spark a broader rally in the memecoin space. “DOGE as the meme leader will drive attention and liquidity rotation to the broader meme narrative, he asserts.” This enthusiasm could lead to a significant influx of speculative investments, often called “fear of missing out” (FOMO). Increased Crypto Scrutiny Under A Harris Administration? Deutscher further predicts that a Trump victory would spark a rally in altcoins, especially memecoins, which have historically shown strength leading up to elections. Another clear example of this is that the largest tokens in the Solana memecoin ecosystem, Dogwifhat (WIF), Bonk Inu (BONK) and Popcat (POPCAT), saw surges of 6.3%, 8% and 6% respectively, on election day, all of which outperformed the top ten cryptocurrencies in the market. Deutscher also said that with many cryptocurrencies undergoing significant drawdowns as investors de-risked ahead of the election, they would likely experience a pronounced bounce if Trump secures the presidency. Conversely, if Kamala Harris wins, the analyst foresees a different dynamic. The possibility of increased regulatory scrutiny on utility tokens could prompt investors to seek refuge in more speculative assets, such as memecoins. Deutscher notes that under this scenario, the fear of a crackdown, reminiscent of the operation chokepoint initiatives targeting certain crypto assets, may lead investors to gravitate towards nihilistic alternatives like memecoins. Ultimately, this shift could increase meme coins dominance, especially if traditional sectors like decentralized finance (DeFi) face heightened scrutiny. In this case, Deutscher asserts that investors might shy away from the broader altcoin market, favoring assets that have already demonstrated resilience and strength throughout the year. Based on price action trends, the analyst points out that some memecoins may be perceived as less risky than other altcoins, a sentiment that appears to be gaining traction among retail investors. At the time of writing, Dogecoin trades at $0.1755. Featured image from DALL-E, chart from TradingView.com

BNB is facing a challenging moment, with a recent price forecast pointing towards a drop to $534.3. But SUI is on an upward climb, having surpassed $2 after a 342% surge over the last three months. While BNB and SUI navigate the typical market fluctuations, BlockDAG (BDAG) is transforming the way users mine crypto with its X1 Miner app. This tool has empowered over 200,000 users to mine up to 20 BDAG coins daily, using just their smartphones. Beyond the app’s utility, enthusiasm for BlockDAG’s presale is at an all-time high. A staggering 2100% increase in BDAG’s price since its first presale batch dwarfs even SUI’s impressive surge. While the current price of BDAG sits at $0.022 per coin, experts predict it could reach $20 by 2027. BNB Price Forecast: Potential Dip to $534 Ahead? Binance Coin (BNB) is experiencing a noticeable dip, recently failing to break past the $612.5 resistance level and now trading just above $578. This switch from a bullish to a bearish trend indicates that despite its current struggles, BNB’s market movements are critical for traders watching for the best crypto to buy today. The token saw rejection at crucial resistance and has since moved below the trendline that supported its recent ascent, suggesting potential further declines. Technical indicators, such as the MACD and RSI, also support the likelihood of a continued downward trend. SUI Prices Surges: $2 Reached, $3 Next? SUI token has shown an impressive climb, now passing the $2 threshold with a robust 16% increase. As Bitcoin nudges closer to a new high, SUI’s performance is catching the eye of the investment world. The token has made a remarkable leap of nearly 12% in just one day, sparking conversations about its potential to double in value soon. Over the past three months, SUI has risen by 342%, rebounding from earlier lows with strong trading support at key levels. This consistent upward movement has traders watching closely, excited about SUI’s potential to hit the next big milestone of $3. Why BlockDAG’s X1 Miner App Is 200K Users Strong As BNB and SUI ride their rollercoaster price movements, BlockDAG is busy revolutionising crypto mining. Gone are the days when only tech aficionados with high-end rigs could mine crypto. With BlockDAG’s X1 Miner App, anyone with a smartphone can now extract up to 20 BDAG coins with a few simple taps. This democratisation of mining has attracted over 200,000 users, many of whom are making significant headway in their mining journeys. The buzz around BlockDAG isn’t just about ease of access though. The network has skyrocketed in recent months, with presale revenues crossing $112.5 million. The native coin, BDAG, has exploded in value by 2100% since the first presale batch, with more than 14.9 billion coins already claimed. Analysts now predict that BDAG could hit $20 per coin by 2027, drawing an enthusiastic crowd to the X1 app due to its early success and promising future. The X1 app has become more than just a tool; it’s a phenomenon. It embodies a new era where anyone can mine crypto efficiently and affordably, highlighting BlockDAG’s commitment to energy-efficient and cost-effective mining solutions. For those pondering the start of their mining adventure, here’s a key piece of advice: mining BDAG coins right now is almost competition-free, offering multiple opportunities. However, once BlockDAG lists on major exchanges, mining will inevitably become more challenging. To Conclude BNB faces challenging market conditions with a less-than-favourable price forecast, while SUI enjoys an upward trend. In contrast, BlockDAG’s X1 Miner App is transforming crypto mining. This app makes mining accessible to anyone with a smartphone, democratising the process that was once limited to tech-savvy individuals. The surge in BlockDAG’s value by 2100% has already attracted over 200,000 active users, drawn by the simplicity and potential returns. Mining BDAG coins presents a wealth of opportunities with minimal competition. However, the scene is set to get more competitive once presale concludes and BDAG starts trading on major exchanges. For anyone wanting to kickstart their mining journey, now might be the perfect time. Learn About BlockDAG – Act Now Before Prices Increase: Website: https://blockdag.network Presale: https://purchase.blockdag.network Telegram: https://t.me/blockDAGnetworkOfficial Discord: https://discord.gg/Q7BxghMVyu Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this Press Release does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this Press Release.

Bitcoin market trend may be on the verge of a significant shift, according to a recent analysis shared by CryptoQuant analyst Percival. Percival described Bitcoin’s current phase as “chopsolidation,” a term used to describe a period of minimal directional movement where price consolidation occurs without a clear trend. This period, he suggests, may be drawing to a close, with an imminent market movement expected in the coming weeks. The Chopsolidations metric, as Percival notes, doesn’t predict the direction of Bitcoin’s next move. Instead, it assesses the exhaustion level of the current trend, helping to determine whether Bitcoin’s price is due for a reversal or continuation. Percival’s analysis highlights that while there are indicators of strength at various points, the market remains divided on Bitcoin’s next direction. So far, some investors believe that recent accumulation is sufficient to push Bitcoin past its all-time high, while others expect a more cautious upward movement or even a potential correction. Assessing Bitcoin’s Support Levels And Potential Price Rebound Percival’s analysis further points to two key periods in September and October where Bitcoin established notable support levels, marked by brief but significant price stability zones. These areas, which he identified as orange zones on his chart (shared above), served as points where Bitcoin’s price “reloaded” — essentially, zones where demand was strong enough to halt price declines temporarily. With the current price hovering near these support levels, Percival suggests that the market may find a new bottom if Bitcoin faces any short-term downward pressure. This support could create a foundation for upward movement in the weeks ahead. The Chopsolidations indicator, according to the CryptoQuant analyst’s breakdown, is showing signs of readiness for a strong trend based on weekly and monthly readings. Although he did not specify a particular directional bias, he noted that the current market strength could be enough to drive Bitcoin’s price upwards if additional demand or a favorable macroeconomic environment aligns with market sentiment. This trend could play out over the short term, where sufficient market activity might lift Bitcoin’s price. Bitcoin Continuous Struggle To Make A Major Move So far, Bitcoin’s price has continued to face a struggle to make a significant move, especially to the upside. Instead, the asset has seen a form of calmness in volatility following its recent decline below the $70,000 price mark. Particularly, at the time of writing, the asset currently trades for $68,721—a price region BTC has remained quite stable for the past 3 days since its most recent decline. Featured image created with DALL-E, Chart from TradingView

Dogecoin started a fresh surge above the $0.180 resistance against the US Dollar. DOGE could continue to rise if it clears the $0.2200 resistance. DOGE price started a fresh rally like Bitcoin and climbed above the $0.180 resistance level. The price is trading above the $0.1800 level and the 100-hourly simple moving average. There was a break above a key bearish trend line with resistance at $0.1620 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could continue to rally if it clears the $0.2150 and $0.2200 resistance levels. Dogecoin Price Eyes More Gains Dogecoin price started a fresh surge after it reclaimed the $0.1650 resistance like Bitcoin and Ethereum. DOGE was able to gain pace for a move above the $0.1800 and $0.1850 resistance levels. There was a break above a key bearish trend line with resistance at $0.1620 on the hourly chart of the DOGE/USD pair. The pair even surged above $0.2000. A high is formed at $0.2200 and the price is now consolidating above the 23.6% Fib retracement level of the upward move from the $0.1654 swing low to the $0.2200 high. Dogecoin price is now trading above the $0.200 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.2150 level. The next major resistance is near the $0.220 level. A close above the $0.220 resistance might send the price toward the $0.2320 resistance. Any more gains might send the price toward the $0.2420 level. The next major stop for the bulls might be $0.250. Are Dips Supported In DOGE? If DOGE’s price fails to climb above the $0.2150 level, it could start another decline. Initial support on the downside is near the $0.2080 level. The next major support is near the $0.1920 level or the 50% Fib retracement level of the upward move from the $0.1654 swing low to the $0.2200 high. The main support sits at $0.1780. If there is a downside break below the $0.1780 support, the price could decline further. In the stated case, the price might decline toward the $0.1650 level or even $0.1620 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.2080 and $0.1920. Major Resistance Levels – $0.2150 and $0.2200.

XRP price is gaining pace above the $0.5050 support zone. The price is rising and might even aim for a move above the $0.5500 resistance. XRP price is eyeing a decent increase above the $0.5250 zone. The price is now trading above $0.5220 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $0.5100 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could gain bullish momentum if it settles above the $0.5350 resistance zone. XRP Price Climbs 4% XRP price remained supported above the $0.4880 level. It formed a base and started a fresh increase above $0.5050 like Bitcoin and Ethereum. There was a move above the $0.5120 and $0.5200 resistance levels. There was a break above a connecting bearish trend line with resistance at $0.5100 on the hourly chart of the XRP/USD pair. Finally, it tested the $0.5365 zone. A high is formed at $0.5368 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $0.4948 swing low to the $0.5368 high. The price is now trading above $0.5200 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.5350 level. The first major resistance is near the $0.5365 level. The next key resistance could be $0.5450. A clear move above the $0.5450 resistance might send the price toward the $0.5500 resistance. Any more gains might send the price toward the $0.5665 resistance or even $0.5720 in the near term. The next major hurdle might be $0.5840. Another Decline? If XRP fails to clear the $0.5350 resistance zone, it could start another decline. Initial support on the downside is near the $0.5250 level. The next major support is near the $0.5155 level or the 50% Fib retracement level of the upward move from the $0.4948 swing low to the $0.5368 high. If there is a downside break and a close below the $0.5155 level, the price might continue to decline toward the $0.5050 support in the near term. The next major support sits near the $0.500 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.5250 and $0.5155. Major Resistance Levels – $0.5350 and $0.5500.

Bitcoin price seems to be a clear signal to keep an eye on today as the US election unfolds. As the election voting began, the price of Bitcoin is nearing the $70,000 mark. As the US election day approaches, the price of Bitcoin is once again aiming to recover the $70,000 mark. Bloomberg analyst Eric Balchunas discussed the potential significance of the flagship cryptocurrency as an indication for the start of the election when it briefly broke over this price level. According to Bloomberg analyst Eric Balchunas’s X post, Bitcoin price seems to be a clear signal to keep an eye on today as the US election unfolds. During the campaign, he said, this perception was a problem for both Donald Trump and Kamala Harris. Crypto Centered Election The whole campaign around this election revolved on Bitcoin and other cryptocurrencies. Since the beginning of the year, Donald Trump has stated his support for Bitcoin and other cryptocurrencies. When asked about Kamala Harris’s stance on Bitcoin, the former president recently said that he would put a stop to it if elected. However, although bringing up cryptocurrency in the context of other topics, Kamala Harris did not clearly indicate her stance on the matter. As the election voting began, the price of Bitcoin is nearing $70,000, coinciding with Balchunas’s statement. Similarly, Bitwise’s CIO, Matt Hougan, concurred with the Bloomberg analyst and said that he had been thinking along similar lines. In response, Balchunas made the observation that the price of Bitcoin seemed to be linked to the likelihood of Trump being elected. With Donald Trump’s chances of winning the elections returning to 60% on Election Day, according to the most recent Kalshi data, this might very well be the case. This news bodes well for the flagship cryptocurrency, given that the former US president is a pro-crypto candidate. Highlighted Crypto News Today: Are Meme Coins Primed for Breakout Post US Elections?

Dogecoin has seen a jump of over 12% during the past day, but this trend brewing in an on-chain indicator could spell a bearish end to the run. Dogecoin Investors Have Been Showing Signs Of FOMO Recently In a new post on X, the on-chain analytics firm Santiment has discussed about how the trend in the Total Amount of Holders has been like for the various top coins in the cryptocurrency sector. The “Total Amount of Holders” here refers to an indicator that, as its name suggests, keeps track of the total number of addresses on a given network that are carrying a non-zero balance. When the value of this metric rises, it means new investors are joining the blockchain or old ones who had sold earlier are buying back into the coin. The indicator also registers an increase whenever existing users divide their holdings into multiple wallets for purposes like privacy. In general, all three of these factors are simultaneously at play whenever this trend develops, so some net adoption of the asset could be assumed to be taking place. On the other hand, the indicator going down suggests some of the holders have decided to clear out their wallets, potentially because they want to get away from the cryptocurrency. Now, here is a chart that shows the trend in the Total Amount of Holders for Bitcoin, Dogecoin, and other top assets: As displayed in the above graph, most of the assets have registered an increase in Total Amount of Holders recently, but Bitcoin has gone against the grain as its non-zero wallets have declined instead. More particularly, the number one cryptocurrency today hosts 211,500 less addresses compared to three weeks ago, which has brought the metric’s value to 54.38 million. This means that some investors of the asset don’t believe the current rally would continue further, as they have decided to liquidate their holdings at the recent prices. Historically, assets in the sector have tended to be sensitive to investor sentiment, but the relationship has been an inverse one: prices tend to go up when investors are showing FUD, while they go down in times of FOMO. Thus, the recent drop in the Total Amount of Holders may actually prove to be a bullish sign for Bitcoin. From the chart, it’s visible that the metric has shown the opposite trajectory for Dogecoin, as 46,400 addresses with a balance have showed up on the network in the past week alone. “This is a sign of traders speculating and gambling on meme coins, even after last week’s local top,” notes the analytics firm. Going by what history tells us, this FOMO may not be the best sign for Dogecoin. DOGE Price Dogecoin has continued its latest bullish push during the last 24 hours as its price has broken beyond the $0.168 mark. Given the FOMO that has been developing, however, this run may not be sustainable.

Ethereum price found support near $2,350 and started a fresh increase. ETH is rising and might aim for a move above the $2,580 resistance. Ethereum started a fresh surge above the $2,500 resistance zone. The price is trading above $2,500 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $2,460 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if it settles above $2,580 and $2,620. Ethereum Price Restarts Increase Ethereum price found support near $2,350 and started a fresh increase like Bitcoin. ETH was able to climb above the $2,420 and $2,450 resistance levels to move into a positive zone. It cleared the 50% Fib retracement level of the downward move from the $2,583 swing high to the $2,357 low. Besides, there was a break above a key bearish trend line with resistance at $2,460 on the hourly chart of ETH/USD. Ethereum price is now trading above $2,500 and the 100-hourly Simple Moving Average. It is also above the 76.4% Fib retracement level of the downward move from the $2,583 swing high to the $2,357 low. On the upside, the price seems to be facing hurdles near the $2,580 level. The first major resistance is near the $2,620 level. The main resistance is now forming near $2,650. A clear move above the $2,650 resistance might send the price toward the $2,720 resistance. An upside break above the $2,720 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,750 resistance zone. Another Drop In ETH? If Ethereum fails to clear the $2,620 resistance, it could start another decline. Initial support on the downside is near the $2,520 level. The first major support sits near the $2,500 zone. A clear move below the $2,500 support might push the price toward $2,450. Any more losses might send the price toward the $2,320 support level in the near term. The next key support sits at $2,350. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,450 Major Resistance Level – $2,620

Bitcoin price is surging again above $70,000. BTC is showing signs of strength and might even clear the $73,500 resistance zone amid Trump’s lead. Bitcoin started a fresh surge above the $70,000 zone. The price is trading above $71,000 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $68,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could struggle to rise above the $73,000 resistance zone. Bitcoin Price Surges Over 5% Bitcoin price remained stable the $65,500 support zone. A base was formed and BTC price started a fresh surge above the $68,500 resistance. Trump is clearing leading and sparking a fresh rally in BTC. The price gained over 5% and cleared the $70,000 barrier. It surpassed the 50% Fib retracement level of the downward move from the $73,574 swing high to the $66,836 low. There was a break above a key bearish trend line with resistance at $68,450 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading above $72,000 and the 100 hourly Simple moving average. It is also above the 76.4% Fib retracement level of the downward move from the $73,574 swing high to the $66,836 low. On the upside, the price could face resistance near the $72,800 level. The first key resistance is near the $73,200 level. A clear move above the $73,200 resistance might send the price higher. The next key resistance could be $74,500. A close above the $74,500 resistance might initiate more gains. In the stated case, the price could rise and test the $75,000 resistance level. Any more gains might send the price toward the $78,000 resistance level. Are Dips Limited In BTC? If Bitcoin fails to rise above the $73,200 resistance zone, it could start another decline. Immediate support on the downside is near the $72,000 level. The first major support is near the $71,200 level. The next support is now near the $70,500 zone. Any more losses might send the price toward the $70,000 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $72,000, followed by $71,200. Major Resistance Levels – $72,800, and $73,200.

In October, the Solana blockchain registered 123 million active addresses. It has grown 42% since September and has risen dramatically from 12.7 million addresses at the start of the year. Latest data shows Solana’s steady rise in the crypto sector. The latest growth is due, in part, to memecoins, which have increased trade and user interest. The memecoin craze isn’t the only factor in Solana’s rapid growth. With a total value locked (TVL) of $5.7 billion, the decentralized finance (DeFi) ecosystem made major strides in the third quarter of 2024. With a 26% quarterly increase, Solana became the third-largest DeFi network surpassing Tron. Much of this growth comes from innovative platforms like Kamino. Memecoins Drive Unprecedented Trading Volumes Key to the recent surge in trade on Solana is platforms including Pump.fun, a memecoin generator, and Raydium, a decentralized exchange (DEX). Pump.fun brought in $30.5 million in October; Raydium recorded around $30 billion in trading activity. Particularly those looking for low-cost, high-frequency trades—an area where Solana’s infrastructure shines against more expensive networks like Ethereum—the activity generated by this memecoin has drawn more users to the network. Still, several business leaders are wary. Though memecoins have attracted a lot of attention in Solana, Eden Au, research director at The Block, pointed out that their long-term consequences are yet unknown. Au posits that changing market dynamics and shifting user preferences may impede current progress if fresh utility and attractiveness do not arise beyond memecoins. Solana DeFi Ecosystem Flourishes In addition to the memecoin excitement, Solana’s DeFi network has experienced significant growth. Solana’s DeFi industry, with a substantial $5.7 billion in total value locked (TVL), experienced a 26% growth in Q3, reflecting significant expansion propelled by platforms such as Kamino. Renowned for its loan and trading innovations, Kamino implemented new services that captivated consumers and enhanced Solana’s position in the DeFi ecosystem. Integrations like PayPal’s PYUSD have strengthened Solana’s stablecoin ecosystem, making its programmable transfer features more appealing. SOL Price Target & Resistance Level Over the course of the past month, the value of Solana’s native token, SOL, has increased by around 12%. It is currently selling at $162, figures from Coingecko show. Market observers are currently looking at a resistance level of $185. It is possible that the token’s price will increase even further if it is able to break through this barrier; the expected price targets range from $220 to $240. If SOL is able to maintain its consistency and make the most of its current developments, then the next several weeks will be the determining factor. Featured image from MoneyCheck, chart from TradingView

Bitcoin recent price movements amid the US presidential election 2024 have led to its price currently standing at around $69,092, following a drop below the $70,000 level last week. This relatively low volatility has marked a calm period for Bitcoin, allowing it to stabilize in the $68,000 to $69,000 range over the past few days. The steady price trend has prompted analysts to forecast possible upward movement, pointing to various technical patterns and indicators suggesting a potential rally. 30% Bitcoin Rally In Play Among the analysts forecasting bullish momentum for Bitcoin, a renowned crypto analyst known as Captain Faibik recently shared insights on X regarding a technical pattern called a “Descending Broadening Wedge.” Faibik highlighted that Bitcoin has completed a breakout from this pattern on a weekly chart and is now in a “retest” phase. A Descending Broadening Wedge is typically considered a bullish reversal pattern in technical analysis. The pattern forms as price action creates lower highs and lower lows within diverging trendlines, implying that the downward momentum may weaken. If the price breaks upward through the resistance, it can indicate that the asset will likely see a price surge. Faibik expects a successful retest of the recent breakout of this pattern from BTC and has set a midterm target of $88,000, forecasting a potential 30% increase in Bitcoin’s value by the end of the year. Bullish Divergence And Long-Term Holder Behaviour Alongside Faibik’s observations, another well-known analyst, Javon Marks, pointed to signs of bullish divergence on Bitcoin’s chart. In technical analysis, bullish divergence occurs when an asset’s price makes lower lows while a technical indicator, such as the Relative Strength Index (RSI), creates higher lows. This divergence can suggest a potential reversal as buying momentum begins to build. According to Marks, this divergence indicates that Bitcoin’s bulls may be preparing for a move, which could translate to regained dominance in the market. Marks’ view supports the possibility of an upward trend in the medium term, even if the short-term market conditions seem uncertain. Meanwhile, IntoTheBlock, a prominent blockchain analytics firm, recently reported interesting trends in Bitcoin’s holder’s balance metrics. According to their data, while long-term Bitcoin holders are currently selling, the scale of these sell-offs appears moderate compared to previous bull cycles. In prior cycles, long-term holders often sold more aggressively, signaling a peak in market sentiment. This time, however, the selling trend among long-term holders has been more restrained, which may reflect a cautious approach amid Bitcoin’s current market conditions. IntoTheBlock speculates that this cautious behavior could signal a shift in the cycle dynamics, potentially pointing to a new market phase for Bitcoin. Featured image created with DALL-E, Chart from TradingView

As one of the fastest-moving altcoins of 2024, the interest in trading DTX Exchange is very high among traders and investors worldwide. The hybrid trading platform of is unique since it provides all the totality of trading opportunities in one place, a pioneering layer 1 blockchain technology that challenges conventional approaches to trading. DTX’s success has signaled a surge of more than $6.35 million raised in its fourth presale round, becoming a leading investment instrument for high return. With over 120,000 digital assets, it supports the digital asset classes of cryptocurrency, stocks, forex, and commodities. Distinct from industry giants like Cardano, DTX has its platform’s standout features, such as being a record breaker when it comes to its testnet 10,000 transactions per second (TPS), putting it in a league of its own. DTV offers investors a time-sensitive entry point into the altcoin market with a final presale allocation before a 50% price increase. Phoenix Wallet and Trading Platform Innovations Enhance User Security and Autonomy This recent launch of the Phoenix Wallet, a noncustodial wallet for DTX users, shows the platform’s dedication to user control and security. Through this type of wallet, which requires no KYC verification, users will have full access to their trading funds without the chaos often experienced due to use in custodial wallets. This addition of this wallet will suit DTX’s goal to let traders own all of its assets, making it more attractive for privacy-minded investors. DTX’s hybrid platform smartly provides advanced trading tools to novice and seasoned traders. Users can run automated trading, quantitative analysis, and algorithmic trading and also get 1000x leverage options in very volatile markets. DTX has benefited greatly from the platform’s scalability and technological infrastructure, attracting more traders. This has also added confidence in the investor community regarding DTX’s position as a top altcoin of 2024. Revenue-sharing programs and Strategic Growth Fuel Investor Confidence DTX Exchange also provides direct trading advantages and some revenue-sharing incentives, such as a 3% VIP rebate to liquidity contributors. Decentralized exchanges present these slippage issues, and these programs solve them, making the platform ideal for high-volume traders. These tools have boosted community participation so much that DTX has positioned itself as a major player in the decentralized finance (DeFi) space. According to the ongoing presale, which experienced 58% of token sales, investors are increasingly looking for early positions before the next price increase in the next round. The 50% token price hike to a projected $0.10 per token in the upcoming presale stage underscores the fact that DTX is becoming a more expensive coin. This is a prime time to invest because experts predict opening near so many returns as the platform gets ready to list big centralized and decentralized exchanges. With DTX getting ready for the mainnet launch, its strategic reinvestment in technology and infrastructure will make it more solid in the future. As the presence of DTX in the altcoin space increases, industry leaders are beginning to view DTX as a long-term competitor due to DTX’s deflationary tokenomics and community-based initiatives. With the platform’s continued growth, DTX could be the ICO to set new standards for the industry and emerge as a frontrunner in the altcoin 2024 market. Learn more: Buy Presale Visit DTX Website Join The DTX Community Whitepaper Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this article does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this article.