Niyola🎩ðŸŽ
@niyola
272 Following
759 Followers
0 reply
0 recast
1 reaction
1 reply
1 recast
1 reaction
0 reply
1 recast
1 reaction
0 reply
0 recast
1 reaction
0 reply
0 recast
1 reaction
0 reply
1 recast
2 reactions
0 reply
1 recast
1 reaction
Cardano (ADA) has broken out of a bullish flag pattern, targeting $1.40 with resistance at $1.20. Key points:
_Technical Analysis_
1. _Bullish patterns_: ADA has formed a cup-and-handle and an inverted head-and-shoulders pattern, supporting further gains.
2. _Breakout_: ADA has broken out of a bullish flag pattern, signaling potential for extended rally.
_Technical Indicators_
1. _RSI_: 61.7, showing strong upward momentum while staying below overbought levels.
2. _MACD_: Bullish crossover, confirming growing buying pressure.
_On-Chain Activity_
1. _Rising active addresses_: Over 46,000 active addresses recorded, reflecting heightened network usage.
2. _Network growth_: Increasing confidence in Cardano's ecosystem and potential for long-term value.
_Market Sentiment_
1. _Open interest_: Surged 16.12% to $1.48 billion, indicating strong confidence among traders.
2. _Liquidation data_: Short liquidations ($559,640) outweigh long liquidations ($178,750), underscoring bullish conviction. 1 reply
1 recast
2 reactions
1 reply
1 recast
1 reaction
4 replies
3 recasts
3 reactions
1 reply
1 recast
2 reactions
Bitcoin (BTC) may have hit a local bottom, according to Cryptoquant's Burak Kesmeci, citing the Advanced NVT metric. Key points:
- The Advanced NVT signal has appeared for the first time in 6 months, historically indicating significant price gains.
- However, other indicators suggest BTC may drop further before reversing, with a potential target of $92,480.
- The Bitmex basis ratio has remained negative, indicating market backwardation and near-term bearish expectations.
- Large holders are transferring more BTC onto exchanges, potentially preceding selling activity and downward price pressure.
- The NVT ratio with transactions has surged to extreme levels, reflecting reduced on-chain activity and potential overvaluation concerns.
If a local bottom is realized, BTC may reclaim $96,000 in the short term and attempt $98,700. 3 replies
2 recasts
3 reactions
1 reply
1 recast
1 reaction
0 reply
1 recast
1 reaction
1 reply
1 recast
1 reaction
0 reply
1 recast
1 reaction
7 replies
6 recasts
7 reactions
1 reply
0 recast
2 reactions
0 reply
2 recasts
2 reactions
Optimism (OP) may see a price surge due to increased accumulation by large investors and a bullish technical chart. Key highlights:
- Large investors have purchased 277.17 million OP, valued at $501.62 million, over the past 24 hours.
- Average transaction size has spiked to $20,697.00, indicating substantial bulk purchases.
- OP's chart shows a golden cross pattern, suggesting a potential high-momentum price push.
- A breakout from the current accumulation pattern could lead to a 36.98% rally, reaching $2.616.
- Rising interest in the derivative market, with a positive Funding Rate, supports a bullish outlook.
If the anticipated breakout occurs, OP could see significant gains, but a price re-assessment or continuation of the upward movement is also possible. 1 reply
1 recast
2 reactions