Bitcoin and ETH Price Prediction: Bulls Lose Control, Why XRP Might Surge Over $0.4

Key Insights:

  • Bitcoin started a fresh decline below the $23,500 support.
  • Ether (ETH) declined over 5% and traded below $1,600.
  • XRP is facing a key barrier near $0.400 on the daily chart.

Bitcoin

After clearing the $24,000 support, bitcoin price started a steady decline. The price traded below the $23,500 and $23,200 support levels. The price even settled below the $23,000 level and the 21 simple moving average (H1).

It tested the $22,700 zone and remains at a risk of more losses. The next major support is near the $21,800 level, below which there is a risk of a drop towards the $21,200 level.

Bitcoin BTC Hourly Chart
BTC Hourly Chart by FXEmpire

On the upside, there is a major resistance forming at $23,150 and a bearish trend line on the hourly chart. A close above the trend line and the 21 simple moving average (H1) might push the price to $24,000.

Ethereum (ETH)

ETH also followed a similar path after it failed to clear the $1,750 resistance. There was a bearish reaction below the $1,650 support and the 21 simple moving average (H1).

The price declined over 5% and traded below the $1,600 support zone. It is now showing a few bearish signs near the $1,575 level. An immediate support is near the $1,555 level. The next major support is near the $1,500 level.

Ether ETH Hourly Chart
ETH Hourly Chart by FXEmpire

Any more losses might send ether price towards the $1,420 level. On the upside, the bears might remain active near the $1,600 and a connecting bearish trend line on the hourly chart.

XRP

XRP found support near the $0.300 zone after a strong decline. A base was formed near $0.300 and the price started a minor upside correction.

There was a recovery wave above the $0.332 and $0.350 resistance levels. There was also a break above a crucial bearish trend line with resistance near $0.365 on the daily chart. However, the price faced a strong resistance near the $0.400 zone.

XRP Daily Chart
XRP Price Daily Chart by FXEmpire

XRP is slowly moving lower and approaching the broken trend line support at $0.362. If there is a downside break below the $0.365 support and $0.350, the price could nosedive to $0.312 or even $0.30.

On the upside, the price could face a strong resistance near the $0.40 level. The main resistance sits near the $0.411 zone, above which the price could rally 15%-20%.

ADA, BNB, and DOT price

Cardano (ADA) is struggling below the $0.50 support zone. The next major support is near $0.475, where the bulls might take a stand.

Binance Coin (BNB) is trading below the $285 level. If the bulls fail to protect the $275 support, the price could decline towards the $260 level.

Polkadot (DOT) is down over 8% and trading below the $8.0 level. The next major support is near the $7.62 level, below which there is a risk of a move towards the $7.45 level.

A few trending coins are CRO, BTT, and NEXO. Out of these, NEXO is gaining pace above the $0.745 resistance zone.

Crypto Market Daily Highlights – SOL and DOGE Slide

Key Insights:

  • It was another bearish session for the crypto to ten, with Dogecoin (DOGE) and Solana (SOL) leading the way down.
  • Market reaction to US consumer confidence figures and a rise in crude oil prices hit riskier assets, with the crypto market tracking the NASDAQ into the deep red.
  • The total crypto market cap slid by $26 billion to $886 billion, with the $1,000 billion mark now more elusive.

It was a bearish Tuesday for the crypto market. Bitcoin (BTC) fell for a third consecutive day, with Dogecoin (DOGE) and Solana (SOL) leading the top ten into the deep red.

Once more, crypto news updates failed to influence. Bitcoin and the broader crypto market remained firmly in sync with the NASDAQ 100.

Economic data from the US and another rise in crude oil prices sent the NASDAQ and the crypto market into the red.

In June, the US CB Consumer Confidence Index declined from 103.2 to 98.7 versus a forecasted 100.4. The weaker number led to a reversal of gains for the NASDAQ and the crypto market.

Adding to the negative sentiment was a rise in crude oil prices. WTI crude oil increased by 2% on Tuesday, reinforcing the inverse correlation between crude oil prices and the NASDAQ/Cryptos.

While the consumer confidence index pointed to weaker consumption, the increase in crude oil prices suggested a further pickup in inflationary pressure, both negative for the US economy and riskier assets.

NASDAQ sinks cryptos
Total Market Cap – NASDAQ – WTI 290622 15 Min Chart

The Total Crypto Market Cap Slides to Sub-$900bn

A bullish start to the day saw the crypto market cap rise to a day high of $929.8 billion before succumbing to market forces.

The reversal saw the total market cap slide to a day low of $885.2 billion before steadying. $26 billion came off the table.

Tuesday’s tumble left the total crypto market cap down by $407 billion for the current month.

Crypto market cap at sub-$900bn
Total Market Cap 290622 Daily Chart

The Crypto Market Movers and Shakers from the Top Ten and Beyond

On Tuesday, DOGE and SOL slid by 8.33% and 8.27%, respectively, to lead the top ten into the red.

ETH (-4.08%), BNB (-2.96%), ADA (-3.30%), and XRP (-4.56%) also struggled, while BTC fell by a more modest 2.25%.

From the CoinMarketCap top 100, TerraClassicUSD (USTC) grabbed the spotlight, surging by 111.4% to reenter the top 100. Other notables that bucked the broader market trend included 1inch Network (1INCH), which rose by 10.4%, and BitTorrent-New (BTT), which ended the day up 12.1%.

One-Hour Total Crypto Liquidations Spike

This morning, 24-hour total crypto liquidations were higher when compared with Tuesday morning.

Going into the Wednesday session, total 24-hour liquidations stood at $159 million, up from $137 million on Tuesday.

Liquidated traders over the last 24 hours also picked up. At the time of writing, liquidated traders stood at 65,335.

With 24-hour liquidations up, liquidations over one hour were also on the higher side.

According to Coinglass, one-hour liquidations stood at $14.26 million. On Tuesday, one-hour liquidations had stood at $0.86 million. The higher one-hour liquidation figure will need to come down to support a bullish start to the Wednesday session.

Crypto liquidations rise.
Total Crypto Liquidations 290622

Daily News Highlights

  • The current bear market is the worst ever recorded.
  • Institutional crypto products saw record outflows last week.
  • The Central African Republic bet on Bitcoin.
  • Bankman-Fried denied internal talks on acquiring Robinhood Markets (HOOD).
  • Bitcoin miners fight for survival as crypto winter deepens.
  • FTX buyout chatter delivered Robinhood Markets (HOOD) with a 14% boost.
  • SEC v Ripple: Ripple opposed SEC attempts to seal its Amici response.

Crypto Price Analysis June 28: 1INCH, BTT, APE, SOL, NEAR

Key Insights:

  • Taking the market by storm today was once again altcoins.
  • The rally was led by 1INCH, while Solana was one of the worst-performing assets.
  • Bitcoin and Ethereum continued to oscillate around the $20.2k and $1.1k mark, respectively.

The crypto market closed in red for the second day in a row, albeit without losing too much. The downfall, however, does place investors in concern who were expecting a consistent rise as the market heads into the third quarter of 2022.

1Inch (1INCH)

The cryptocurrency was experiencing a good run at the time of writing, with a 14.3% rise adding to the 40% incline observed in the last ten days.

The Awesome Oscillator evinced rising bullishness for the asset, which could help it invalidate the 45% crash from this month.

Bittorent (BTT)

The altcoin came much closer to recovering from the 34.75% loss of June after marking a 10.84% rally yesterday. However so, it still needs to rise by another 25% in order to trace its step back to its former high.

The reducing volatility visible on the Bollinger Bands will support this rally, especially given the candle is closing above the bias treating it as support.

ApeCoin (APE)

The Bored Ape Yacht Club (BAYC) token while did not close in the green on June 28, the rise over the previous 24 hours still placed it up by 7.31%. This brought the rise of the second half of June to 44.6%.

The rise, while it may be organic, is not seeing enough inflows though, which is why the Chaikin Money Flow remains in the negative zone.

Solana (SOL)

Member of the top 10 cryptocurrencies, SOL is not faring as well as other altcoins as after an almost 50% rise, the coin has been sinking on the charts. In the last 48 hours alone, it has declined by 14%.

This has resulted in the receding bullishness on the MACD, making the asset vulnerable to a bearish crossover.

Near Protocol (NEAR)

Leading a pattern similar to Solana, the native token of the Near Protocol is also falling, having lost over 18% in the last two days.

The Parabolic SAR, although it still displays an uptrend, the coin is set to witness a downtrend pretty soon. Once the white dots of the indicator are above the candlesticks, NEAR could see a downfall.

Bitcoin and ETH Price Prediction: Bulls Keep Pushing, Why ApeCoin Could Skyrocket

Key Insights:

  • Bitcoin tested the $20,550 zone and recovered losses.
  • Ether (ETH) is showing positive signs above the $1,200 level.
  • APE broke a major bearish trend line on the daily chart and rallied over 15%.

Bitcoin

Recently, bitcoin price corrected lower below the $21,000 support zone. It even spiked below the $20,650 support and the 21 simple moving average (H1).

However, the bulls were active near the $20,550 zone. The price formed a base and recovered above the $21,000 level. It is now trading near $21,000 and above the 21 simple moving average (H1).

Bitcoin BTC Hourly Chart
BTC Hourly Chart by FXEmpire

On the upside, bitcoin is facing resistance near a connecting bearish trend line at $21,050 on the hourly chart. A clear move above $21,050 and $21,250 is must to start a decent increase. If not, it could move towards $20,000.

Ethereum (ETH)

ETH also followed a similar pattern and corrected below the $1,200 level. The price tested the key $1,165 support zone, where it found a strong buying interest.

The price recovered above the $1,200 level and the 21 simple moving average (H1). There was a clear move above a key bearish trend line at $1,205 on the hourly chart. It is now consolidating near the $1,225 level.

Ether ETH Hourly Chart
ETH Hourly Chart by FXEmpire

On the upside, ether price is facing resistance near the $1,250. A clear move above $1,250 could set the tone for a larger increase.

ApeCoin (APE)

APE started a strong decline from the $28 resistance zone. There was a move below the $15 and $12 support levels to move into a bearish zone.

The price even declined below the $10 level and the 21-day simple moving average. Finally, it tested the $3.2 support zone, where it found strong bids. A base was formed and the price recovered above the $4.50 level.

APE Daily Chart
APE Daily Chart by FXEmpire

Recently, the price gained over 15% and surpassed a major bearish trend line at $5.0 on the daily chart. The price is now trading well above $5.0 and the 21-day simple moving average.

The next key resistance on the upside may perhaps be near $5.40 or $5.50. A clear close above the $5.50 resistance could open the doors for a fresh surge towards $10.

ADA, BNB, and DOT price

Cardano (ADA) is still struggling below the $0.50 resistance zone. A close above $0.50 and $0.512 might send the price higher towards $0.565.

Binance Coin (BNB) is moving higher towards the $240 level. The next major resistance is near $250, above which it could test $265.

Polkadot (DOT) is attempting a fresh increase above the $8.0 resistance. If the bulls succeed, the price could rise towards the $8.80 level.

A few trending coins are FLOW, XTZ, and BTT. Out of these, XTZ is gaining pace above the $1.65 resistance zone.

Top Five Web3 Coins To Have Under the Radar in 2022

The new era of the internet is here and it is called “Web3”, thanks to the technology that is behind the cryptocurrencies which is blockchain.

In the mid-90s, when the Internet was invented, platforms like “Yahoo!” and “MSN Messenger” were some of the most used ones for search and communication purposes, this was known as “Web1.”

As years passed by, the internet got more adoption and platforms like Spotify and Instagram were launched in this new phase of the internet known as “Web2”.

In 2014, Gavin Wood, known for being co-founder of Ethereum and Polkadot, named and described for the first time ever the word “Web3” in a post called “ ĐApps: What Web 3.0 Looks Like”.

“Web 3.0, or as might be termed the “post-Snowden” web, is a reimagination of the sorts of things that we already use the Web for, but with a fundamentally different model for the interactions between parties.” Gavin Wood

What Is Web3?

Last year, the crypto world gained a lot of attention worldwide, especially in the NFTs (Non-Fungible Tokens) ecosystem. The main NFT marketplace, OpenSea, got 10x of users since the beginning of the year, from approximately 100,000 users to almost 1 million, according to Dune Analytics data.

As NFTs got an explosive growth last year, some users who bought an NFT could also receive benefits, this is one of the main characteristics in the Web3 era, users are also benefited from artists or creators by supporting them.

“Web3 is the internet owned by the builders and users, orchestrated with tokens,” said Chris Dixon, general partner at VC Andreessen Horowitz.

Five Web3 Coins To Watch This Year

Polkadot (DOT)

DOT is the 10th biggest cryptocurrency by market capitalization ($24 billion) with a value of $24.36 per coin, after reaching its all-time high of $53.88 in November 2021, according to CoinMarketCap.

DOT
September 2021-January 2022 DOT/USD chart. Source: FXEMPIRE

The project was founded by Gavin Wood, Robert Habermeier, and Peter Czaban in 2016, supported by the Web3 Foundation, it is a platform for Web3 where users are in control and it is completely decentralized.

Polkadot has its main chain called “Relay Chain”, which is built as its Layer 0, and in order to have better scalability in the network, there are Parallel Chains known as “parachains” built as Layer 1 blockchains that are connected to the main chain and can be connected to other networks via bridges.

Last month the first five parachains were live on the network through different auctions, which is one of the reasons that the price reached its all-time high. As more parachains are launched this year, we can expect that the price could have a positive reaction to them.

FileCoin (FIL)

FIL is the 37th biggest cryptocurrency by market capitalization ($4.2 billion) with a value of $28.21 per coin, after reaching its all-time high of $191.36 in March 2021, according to CoinMarketCap.

FIL FXEMPIRE
September 2021-January 2022 FIL/USD chart. Source: FXEMPIRE

The project was founded by Juan Benet in 2014, it is a decentralized storage network where users pay storage miners FIL tokens to store their information securely and correctly.

In October 2021, they launched FileCoin Plus, so storage providers can connect with verified clients. According to their official Twitter account, Inflow music will be released next month, a social token platform where fans will also benefit by supporting the artists.

Theta Network (THETA)

THETA is the 40th biggest cryptocurrency by market capitalization ($4 billion) with a value of $4.01 per coin, after reaching its all-time high of $14.28 in April 2021, according to CoinMarketCap.

THETA FXEMPIRE
September 2021-January 2022 THETA/USD chart. Source: FXEMPIRE

The project was founded by Mitch Liu and Jieyi Long in 2017, it is a decentralized video streaming platform in order to stream excellent video quality that is run by a network of hundreds of computers across the globe.

According to its official website, Theta Network has big partners like MGM, Lionsgate, and NASA and during 2022 they are delivering airdrops and an NFT based video platform.

Helium (HNT)

HNT is the 46th biggest cryptocurrency by market capitalization ($3.3 billion) with a value of $31.45 per coin, after reaching its all-time high of $52.71 in November 2021, according to CoinMarketCap.

HNT FXEmpire
September 2021-January 2022 HNT/USD chart. Source: FXEMPIRE

The project was founded by Shawn Fanning, Amir Haleem, and Sean Carey in 2013, it is a decentralized wireless network where IoT devices are used as Hotspots and earn HNT tokens when data is transferred.

The Helium team attended last week at the Consumer Technology Association in Las Vegas and recently partnered with FreedomFi, a 5G network builder.

BitTorrent (BTT)

BTT is the 54th biggest cryptocurrency by market capitalization ($2.4 billion) with a value of $0.002483 per coin, after reaching its all-time high of $0.01 in April 2021, according to CoinMarketCap.

BTT FXEmpire
September 2021-January 2022 BTT/USD chart. Source: FXEMPIRE

The project originally was founded by Bram Cohen in 2001, but then in 2019, it was acquired by the TRON Foundation, it is the world’s largest decentralized file-sharing protocol that uses its native token BTT which can be earned by seeding files, according to its official website.

Although these five coins are down more than 30% since their all-time highs, the Web3 mania appears just to be starting, these are only five projects but there are many more building it to expand this new era of the internet.

Binance Lab Investment Puts WOO Network back on the Map

What is WOO Network?

WOO Network (WOO) bridges CeFi and DeFi, delivering a trading platform with low to zero-fee trading. The platform caters for both retail and institutional clients, delivering “best-in-class” liquidity.

Key components of the platform include WOOX, WOOTRADE, and WOOFi.

  • WOOX: The WOO trading platform, delivering professional and institutional traders with deep liquidity and lower to zero-fee trading.
  • WOOTRADE: Supports institutional clients by giving access to network liquidity.
  • WOOFi: Decentralized exchange providing swap prices and reduced slippage at lower fees.

Launched in October 2020, 3 billion WOO tokens were created at genesis, 10% of which were sold in private and public sales. WOO Network (WOO) set aside 50% of the tokens to support the WOO ecosystem.

Binance Invests in WOO Network

This morning, Binance Lab became a lead investor in WOO Network (WOO), with a $12m investment.

According to the Binance Blog, the investment will “support WOO Network’s (WOO) rapid expansion through talent acquisition, research, and development”. Additionally, the investment will support the development of new decentralized products.

Since 2021, WOO Network (WOO) has provided liquidity on Binance Smart Chain by way of WOOFi products.

In November of last year, WOO Network (WOO) had raised $30m in a Series A fundraising round. Strategic partners included Crypto.com, Avalanche, and BitTorrent.

WOO Network (WOO) Price Action

At the time of writing, WOO was up by 10.7% to 1.2369USDT. The early morning rally comes off the back of a 16.6% breakout on Tuesday.

On 15th November, WOO had struck an ATH 1.7889USDT before falling back to sub-0.60USDT levels. The Series A and A+ fund raising rounds have delivered strong support, however, leading to a return to 1.20USDT levels.

Having broken out from December’s high 1.1400USDT, WOO should have a free run at November’s ATH. While we can expect plenty of resistance at 1.15USDT levels, WOO Network’s (WOO) partnerships should support fresh highs early in the year.

According to CoinMarketCap, WOO Network (WOO) was ranked at #128 by market cap, at the time of writing, with a market cap of $726m.

WOOUSDT 050122 Daily

BitTorrent’s Price Surges Despite Poor Market Performance

The cryptocurrency market has lost nearly $100 billion over the past 24 hours, with the total market cap now above $2.2 trillion. Bitcoin has dropped below the $50k level again while Ether struggles to defend the $3,600 support level.

BTT Rallies by More Than 4%

BTT, the native token of the BitTorrent platform, is up by more than 4% over the past 24 hours. The rally comes despite the broader cryptocurrency market currently underperforming. At press time, BTT is trading at $0.0029 per token.

BitTorrent is a software that connects parties accessing its network to compute file sharing requests. Its native token, BTT, is a TRC-10 utility token based on the Tron blockchain.

Tron, the blockchain project headed by Justin Sun, acquired BitTorrent in 2018 in a deal worth approximately $126 million and hasn’t made any significant changes to how BitTorrent operates.

While BTT is currently rallying, TRX, the native coin of the Tron blockchain, is underperforming. TRX is trading at $0.0785, down by 1.26% over the past 24 hours.

BTT Could Break Past its 50-day EMA Soon

The BTT/USD daily chart is looking bullish thanks to the cryptocurrency’s recent performance. The technical indicators show that BTT’s performance is improving, and the token’s price could increase in the coming hours.

BTT could soon break past its 50-day EMA. Source: FXEMPIRE

BTT is still trading below its 50-day moving average of $0.0031 but could surpass that level soon if the market condition remains unchanged. The MACD line is below the neutral zone, while the RSI of 48 shows that BTT is just coming out of its oversold region.

TRX Could Slip Below $0.07

The TRX/USD daily chart is bearish at the moment as the cryptocurrency is trading in the red zone. TRX has lost nearly 2% of its value over the past 24 hours and risks dropping below the $0.07 mark if the bearish trend continues.

TRX’s MACD line is below the neutral zone. Source: FXEMPIRE

TRX is trading below its 50-day moving average of $0.0933 and has been below that level for the past three weeks. The MACD line is also in the negative region, while its RSI could dip further into the oversold territory.