Blog old - cryptosignals.org

$SPONGE (SPONGE/USD) Rides Wave Towards Crucial Resistance at $0.000058

In this analysis of the $SPONGE market, there are indications of the trend teetering between the shores of support and resistance, with volatility ebbing away. However, a sudden surge emerges, signaling a bullish tide that now crashes against the formidable barrier at $0.000058. It is crucial for the bull market to surge beyond the $0.000058 and $0.00006 price levels to establish a bullish trajectory.

Key Market Dynamics:

Resistance Levels: $0.0010, $0.0011, and $0.0012.
Support Levels: $0.000035, $0.000030, and $0.000025.

Delving into Technical Analysis for $SPONGE (SPONGE/USD):

In today’s trading session, the strong bullish candlestick in the third 4-hour session was notable as it brought the market close to the crucial $0.00006 price level, exerting pressure on the bearish position at this juncture. Consequently, the market drifts sideways, caught within the broad range outlined by the Bollinger Bands.

To navigate further, the bulls must gather sufficient momentum to overcome the barriers at $0.000058 and $0.00006. Alternatively, if bullish momentum persists, matching the bears at this level and creating a narrow channel of consolidation around $0.00006, a support level may emerge. This could eventually compel bears to reposition themselves at higher price levels.

Insights from the 1-Hour Perspective:

On the 1-hour chart, the market appears to stabilize around $0.000058. With an increase in bullish activity at this level, the potential for an upward surge emerges. However, a detailed analysis of indicators, particularly the Moving Average Convergence and Divergence (MACD), indicates a fading green hue, suggesting a decline in bullish momentum. As a crypto signal result, immediate breakthroughs in resistance appear unlikely.

Nevertheless, if the bulls gather momentum around a more robust support level, such as $0.000055, the likelihood of success may grow. A solid support level at $0.000055 could exert pressure on the $0.00006 price level, potentially facilitating a breakthrough.

Absorb the damp!

Once you start there’s no going back.$SPONGE #MemeCoin #Crypto pic.twitter.com/Nx93DJGIXD

— $SPONGE (@spongeoneth) April 26, 2024

Invest in the hottest and best meme coin. Buy Sponge ($SPONGE) today!

$SPONGE (SPONGE/USD) Surges Towards Key Resistance at $0.000058

In the last analysis of SPONGE/USD, the crypto signal shows that the market was poised to persist within a narrow range, oscillating between support and resistance levels as volatility levels declined. However, an unexpected breakout has initiated a bullish trend, exerting pressure on the pivotal resistance level at $0.000058. To establish an upward trajectory for the market, it is imperative for the price to surpass both the $0.000058 and $0.00006 thresholds. Presently, the price hovers in proximity to these critical levels.

Key Market Dynamics:

Resistance Levels: $0.0010, $0.0011, and $0.0012.
Support Levels: $0.000035, $0.000030, and $0.000025.

Delving into Technical Analysis for $SPONGE (SPONGE/USD):

The significant surge in bullish activity observed during today’s trading session has reintroduced volatility into the market. However, despite this resurgence, bearish sentiment persists at the $0.000058 level. Consequently, the market continues to trade laterally, albeit within a broad range, as indicated by the Bollinger Bands indicator.

For the SPONGE/USD bulls to gain further traction, they must sustain upward pressure to breach the resistance levels at $0.000058 and $0.00006. Alternatively, should bullish momentum hold around the $0.00006 price level, allowing for a period of sideways movement, it could facilitate the establishment of a support level. This, in turn, might compel bearish positions to adjust to higher price levels.

Insights from the 1-Hour Perspective:

The current market scenario shows sideways movement near the $0.000058 mark, as observed on the 1-hour chart. Should additional bullish pressure be applied, there’s potential for an upward breakout. However, analysis of indicators, particularly the Moving Average Convergence and Divergence (MACD), reveals a diminishing green histogram, indicating waning bullish momentum. Consequently, the present conditions may not favor an immediate breakthrough in resistance levels.

Nevertheless, if bulls intervene at a significantly higher support level, such as $0.000055, it could enhance the likelihood of a successful outcome.

Absorb the Damp!

Once you start there’s no going back.$SPONGE #MemeCoin #Crypto pic.twitter.com/Nx93DJGIXD

— $SPONGE (@spongeoneth) April 26, 2024

Invest in the hottest and best meme coin. Buy Sponge ($SPONGE) today!

Tether’s USDT Exchange Balance Soars as Stripe Announces USDC Payments

In a notable development for the cryptocurrency market, Tether’s USDT has reached its highest exchange balance in a year, indicating a growing trust in the largest stablecoin by market capitalization. The 7-day moving average of USDT held by exchanges surged to $568 million earlier this month, showing a consistent increase since February, according to a report by The Block.

Factors Affecting Surge in USDT Balance on Exchanges

This increase in USDT balances on exchanges can be attributed to two main factors:

An influx of users choosing to store their assets on exchanges
and a prevailing sentiment among traders to sell rather than buy

Many individuals are holding onto their USDT amidst recent market volatility, potentially waiting to assess the market’s direction before re-entering. Bitcoin provided a glimmer of hope yesterday, rebounding to $65,275 after dipping below the $60,000 threshold on April 19. This recovery suggests a potential easing of the market’s recent turbulence.

Stripe x USDC

In related stablecoin news, Stripe has announced plans to support USD Coin (USDC) transactions starting this summer. This marks a renewed commitment to cryptocurrency from the payment processing giant, which had discontinued Bitcoin payments in 2018 due to its volatility.

Crypto is back. @Stripe will start supporting global stablecoin payments this summer. Transactions instantly settle on-chain and automatically convert to fiat. Join the waitlist https://t.co/hws2OsU3Id and watch the demo (h/t @Solana) from Sessions. pic.twitter.com/zGKYW2FM6i

— John Collison (@collision) April 25, 2024

Stripe’s integration of USDC payments into its checkout suite is expected within weeks, highlighting the immediate settlement of crypto transactions in fiat currency. This move reflects Stripe’s strategic shift towards stablecoins, offering the benefits of cryptocurrency without the characteristic price fluctuations.

As the crypto landscape continues to evolve, these developments underscore the industry’s efforts to stabilize and streamline digital asset transactions, making them more accessible and reliable worldwide. The rise in USDT’s exchange balance and Stripe’s adoption of USDC payments are pivotal steps towards achieving this goal, fostering a more robust and user-friendly crypto economy.

When trading the crypto market, it doesn’t have to be “hit or miss.” Safeguard your portfolio with trades that actually yield results, just like our premium crypto signals on Telegram.

Interested in learning how to day trade crypto? Get all the information you need here

The Pepe Market (PEPE/USD) Bull Run Stalls at $0.000008 After Repeated Rejections

The bearish sentiment within the Pepe Market has notably consolidated its stance at the $0.000008 price level, as evidenced by the consistent rejection of bullish advances over the past few days. Beginning with the initial emergence of bears at the $0.00001 price level in mid-March, which marked the zenith of the bullish surge at that time, there has been a discernible amplification in the force of the opposing market dynamics, as evidenced by the descending peaks. Presently, there is a prospect for another significant peak to materialize at the $0.000008 price level, indicative of an escalation in bearish influence and market pressure.

The Pepe Market Data

PEPE/USD Price Now: $0.0000077
PEPE/USD Market Cap: $3.3 million
PEPE/USD Circulating Supply: 420.7 Trillion PEPE
PEPE/USD Total Supply: 420.7 Trillion PEPE
PEPE/USD CoinMarketCap Ranking: #34

Key Levels

Resistance: $0.000009, $0.00001, and $0.000011.
Support: $0.0000048, $0.000004, and $0.0000038.

The Pepe Market Through the Lens of Indicators

Today’s trading session is characterized by a dragonfly doji, signaling a potential weakening in the prevailing bullish momentum within the market. This is evident in the consistent rejection experienced by the Pepe market at the key resistance level over the past three days. The elongated lower shadow of the dragonfly reflects the significant presence of sellers, exerting downward pressure on prices. However, by the session’s close, buyers managed to drive prices back up, leading to a close near the opening level, indicative of market indecision.

The interpretation of this pattern aligns with its most common understanding, suggesting a potential loss of momentum in the uptrend. While buyers successfully defended the opening price, their inability to push prices higher underscores uncertainty within the market.

Should the market deviate from this anticipated scenario, a break above the $0.000008 resistance level may occur, albeit accompanied by heightened volatility, should bulls regain sufficient strength to surpass this barrier. Notably, the activities of bulls around the $0.000008 price level are already reflected in the upward divergence of the upper Bollinger Bands.

PEPE/USD Price Prediction: 4-Hour Chart Analysis

In the 4-hour chart analysis of the Pepe market, the trend continues to demonstrate the formation of higher lows, indicating sustained upward momentum. Despite encountering significant price rejection on April 24, the market managed to establish a higher support level compared to the previous one, with another support level forming during today’s trading session. Furthermore, the crypto signal from the Bollinger Bands indicator is showing signs of convergence around this level, suggesting that demand is aligning with supply within this price zone, where sellers are active.

The convergence of the Bollinger Bands and the consistent formation of higher lows imply the potential for a breakout in the near term.

Trade crypto coins on BYBIT!

ApeCoin Trends Towards Premium Zone Amid Bearish Momentum

Market Analysis – April 25

ApeCoin faced a significant shift in market dynamics during April as it underwent a bearish breakout from an expanding channel. This downward movement, which commenced earlier in the month, encountered a temporary halt as the price found support at the demand level of 0.9970. Presently, market participants are witnessing a noteworthy uptick in price, with ApeCoin trending toward the inefficiency zone created by the preceding bearish momentum.

APEUSD Key Levels:

Demand Levels: 0.9970, 0.9000, 0.8000
Supply Levels: 1.2630, 1.7190, 2.1220

ApeCoin Long-Term Trend: Bearish

The current bearish trajectory can be traced back to the formation of a double-top pattern at the significant resistance level of 2.1220. This pattern served as a precursor to a reversal in market sentiment, a notion corroborated by the Relative Strength Index (RSI) as it breached into the overbought territory.

Further validation of the bearish reversal was provided by the Williams Alligator indicator, which exhibited a notable rise above the daily candles in March. After a retracement to retest the resistance level of 2.1220, market participants seized the opportunity to engage in substantial short positions, facilitated by the resistance offered by the Williams Alligator during the pullback phase.

ApeCoin Short-Term Trend: Bearish

The recent downtrend gained momentum as it breached the supporting trendline of the expanding channel, with the descent pausing momentarily upon reaching the demand level of 0.9970. Notably, this coincided with the oversold condition of the Relative Strength Index, indicating a potential exhaustion of selling pressure.

Market Expectation

Presently, the price of ApeCoin is exhibiting a corrective phase, ascending towards the premium region of the preceding bearish swing. Both the daily and 4-hour charts maintain a bearish bias according to the Williams Alligator indicator.

As market participants observe the ongoing pullback, there exists a likelihood of the price sweeping the swing low at 0.9970 in the near term, as the bearish momentum persists amidst prevailing market conditions.

You can purchase Lucky Block here. Buy LBLOCK

Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Whales Transfer 180M XRP as Judge Issues New Order in Ripple Lawsuit

XRP whales transferred 180 million coins today, fueling speculation following a significant legal order from a Magistrate Judge in the Ripple vs. SEC lawsuit.

As XRP’s price shows a hopeful trend, recent whale movements have sparked interest in the cryptocurrency market. The transfer of over 180 million XRP tokens across several transactions has generated speculation, aligning with a crucial phase in the ongoing legal dispute between Ripple Labs and the Securities and Exchange Commission (SEC).

These transfers, occurring alongside the latest updates in the Ripple lawsuit, have raised questions about their potential impact on XRP’s price.

XRP Whale Moves 180 Million Tokens, Sparking Speculation
The recent modest recovery in XRP’s price has once again drawn the interest of investors. At the same time, large XRP transactions by whales have sparked conversations within the cryptocurrency market.

As XRP’s momentum has increased, whales have made four significant transactions totaling over 180 million XRP.

Whale Alert, a blockchain transaction monitoring platform, noted these movements, including an unknown whale that acquired 26.67 million XRP from Binance. This latest purchase from the major crypto exchange has generated optimism about a potential rebound in XRP’s price.

In another significant transaction, 100 million XRP moved between two unknown wallets, prompting speculation, especially given the recent developments in the Ripple vs. SEC lawsuit. In another case, an unidentified whale transferred 27.43 million XRP to Bitstamp, raising questions about XRP’s future direction.

At the same time, the same whale, known by the wallet address r4wf7…h4Rzn, transferred 29.74 million XRP, worth $15.76 million, to Bitso exchange. This whale has made other notable XRP transfers this week, leading to speculation about the purpose of these moves.

Judge Releases New Ruling in Ripple Lawsuit
Amid a series of major XRP transfers, a key development is emerging in the ongoing legal dispute between Ripple Labs and the Securities and Exchange Commission (SEC). Magistrate Judge Sarah Netburn has set a schedule regarding Ripple’s motion to exclude the SEC’s latest expert testimonies

The order allows the SEC an extension until April 29, 2024, to file their reply, with Ripple given three business days afterward to respond.

At the time of writing, XRP’s price had risen by 1.05%, reaching $0.5320, while its 24-hour trading volume decreased by 12.74% to $1.31 billion. Despite recent increased volatility in the cryptocurrency market, XRP has still gained over 6% in the past seven days.

In order to place winning trades with us via Bybit, You can open an account here.

Enjin Coin (ENJUSD) Selling Momentum Declines

Market Analysis – Major Correction as the Third Wave Ends

ENJUSD’s selling momentum declines as the bearish wave ends. The reversal from $0.730 seems to be coming to an end as the selling momentum declines. The overall trend of the market since last month has been bearish. This was followed by the RSI’s (Relative Strength Index) indication of the state of the market being overbought.

Enjin Coin Key Levels

Resistance Levels: $0.500, $0.730
Support Levels: $0.270, $0.210

ENJUSD consolidated at the discount zone until late last year. The price remained within the $0.210 support and $0.270 previous resistance until November 2023. The successful breakout to the upside on November 1, 2023, led to the bull’s dominance of the market. With the price forming higher highs and higher lows, ENJUSD remained bullish for the rest of the year 2023. However, the bears returned for a short while as the year 2024 began.

The bounce off the $0.270 support on January 23, 2024, led to a massive surge into the premium zone. According to the RSI indication, the market stayed in an overbought state for a lengthy period. In an extremely overbought state, the bulls exited the market, thereby leading to a massive fall in the price of the Enjin Coin. The ongoing bearish trend is a result of the bulls’ exit at the extremely overbought state at $0.730 resistance. However, the bearish trend might end soon as the selling momentum wanes off after the third wave.

Market Expectation

A market structure shift to the upside has occurred on the four-hour chart. After a tap into the liquidity void above the $0.380 price level, a retracement beyond $0.350 is probable. After which, a rally into the premium zone is expected.

You can purchase Lucky Block here. Buy LBLOCK

Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

$510M Longs in Danger If Ether Repeats Last Weekend’s Volatility

An Ether price drop of just 2.25% this weekend could result in over $500 million in long positions being liquidated.

Over half a billion dollars in Ether long positions could be at risk of liquidation if the cryptocurrency encounters the same volatility as last weekend.

This risk is compounded by growing concerns that the United States Securities and Exchange Commission (SEC) may reject spot Ether exchange-traded fund (ETF) applications in May.

At the time of reporting, Ether is trading at $3,140 according to CoinMarketCap.

In recent weekends, Ether’s price has seen quick fluctuations followed by recoveries to key support levels.On April 20, Ether briefly dipped 2.25% to $3,036.

A week earlier, on April 13, the price dropped nearly 9% to $2,950 before bouncing back to $3,075.

If a similar scenario occurs this weekend, a substantial amount of liquidations could be at risk. A 2.25% drop at the current price could trigger $510 million in long liquidations, according to CoinGlass data.

A sharper decline, such as the 9% drop from the previous weekend, would lead to $853 million in long liquidations.

The potential for a high volume of liquidations arises as Ethereum faces broader uncertainties related to the status of spot ETF applications and various legal challenges.

On April 24, it was reported that U.S. issuers and other firms expect the SEC to reject spot Ether ETF applications in May, following recent meetings with the regulator.

Four individuals who participated in these meetings stated that they felt the discussions were one-sided, with SEC staff not engaging in substantive discussions about the proposed products.

In a related development on April 25, software development company Consensys filed a lawsuit against the SEC and its five commissioners, alleging that the agency plans to regulate Ether (ETH) as a security.

In order to place winning trades with us via Bybit, You can open an account here.

Discovering Orca: A Dive into Decentralized Finance

Orca stands as a beacon of innovation in the realm of decentralized exchanges (DEX), firmly rooted in the Solana blockchain. Functioning as an Automated Market Maker (AMM), it provides users with a seamless platform to swap assets, provide liquidity, and reap yields through an intuitive interface.

The overarching mission of Orca is to democratize decentralized finance (DeFi), rendering financial tools accessible to all. Beyond mere functionality, Orca operates as a Decentralized Autonomous Organization (DAO), affording ORCA token holders the privilege of governance participation. This empowers them to actively shape and refine proposals, charting the trajectory of the platform.

Inception and Evolution

Orca’s journey traces back to modest origins, where two visionaries toiled away at a desk in Tokyo, devoid of venture capital or startup experience. Despite initial hurdles, Orca has burgeoned within the Solana ecosystem. Presently, it stands as a beacon of decentralized governance, with authority vested in a DAO council, democratically elected through voting processes.
Over time, Orca has metamorphosed, introducing a plethora of features. These include an innovative user interface catering to traders’ needs, permissionless pools for liquidity providers, and avenues for governance engagement for ORCA token holders.

Under the Hood

At the core of Orca’s operations lies the Concentrated Liquidity Automated Market Maker (CLAMM) model. This framework facilitates swift token trades with minimal slippage, owing to the capital efficiency inherent in Orca’s CLAMM pools. As liquidity providers, users can contribute to permissionless pools, a hallmark feature enabling the creation of pools for a diverse array of SPL tokens, complete with adjustable fee tiers. Moreover, Orca’s smart contracts undergo rigorous double audits and are open-source, ensuring transparency and security.

Orca’s Unique Features

Velocity: Orca stands as the ultimate all-in-one DEX, boasting lightning-fast speed, negligible fees, and a user-centric design ethos. Experience transactions at the speed of thought with network fees as low as $0.00001 and transaction times as swift as 1 second. Plus, dive into the depths of the ocean with marine-themed collectibles.

Seamless Swaps on Solana Blockchain: Simplifying cryptocurrency exchange on Solana’s blockchain, Orca offers unparalleled convenience. Swap tokens with minimal fees and reduced latency compared to other DEXs on Ethereum.

Earning Opportunities: Harness the power of liquidity provision to earn a share of trading fees on Orca’s platform. Solana’s exceptional performance, boasting 50,000 transactions per second (TPS) and 400 ms block times, ensures unmatched scalability within the blockchain ecosystem.

Versatile Use Cases: Orca caters to a diverse range of users with its array of use cases. Traders benefit from an innovative interface for exchanging crypto assets, while liquidity providers can leverage Orca’s concentrated liquidity pools, surpassing traditional order books. ORCA token holders actively participate in governance, shaping the platform’s future. Developers, too, can tap into Orca’s Solana liquidity, utilizing its open-source smart contracts and SDK to build and integrate projects seamlessly.

In Conclusion

With its impressive engineering prowess, visionary outlook, and inherent value, the Solana team sets a new benchmark in the blockchain landscape. Solana emerges as the optimal choice for nurturing the next wave of blockchain applications.

Trade crypto coins on BYBIT!