Discover why Qubetics’ presale at $0.015 with a projected 1465% ROI is creating a strong sense of urgency. Compare it with the latest Near Protocol and Solana VM developments as they tackle scalability and developer challenges. The post Qubetics Presale at $0.015–Comparing Qubetics, Near Protocol, and Solana VM Developments appeared first on TheCoinrise.com .
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53% Of Binance Traders Are Shorting Bitcoin – What Does This Mean For Price Action?
After several weeks of sustained upward momentum, Bitcoin is currently holding above $66,000. The price has recently encountered resistance at the crucial $69,000 level, which is expected to take time and significant liquidity to overcome. Key data from Binance reveals that more than half of futures traders have shorted BTC in the past few hours, creating a divisive environment for price action. Related Reading: Ethereum Upside Target Around $2,800 As Price Tests Key Resistance The futures market often serves as a barometer for momentum and liquidity, signaling potential shifts in Bitcoin’s price movement. As BTC consolidates just below the $69,000 resistance, maintaining support above $66,000, the coming days will be pivotal. Investors and analysts are closely watching to determine whether Bitcoin will break through to new all-time highs or if the accumulation period will continue. The outcome could set the tone for the next phase of the market. Bitcoin Future Traders Remain Bearish (For Now) Bitcoin is currently in a consolidation phase after weeks of impressive price appreciation. Despite this pause, analysts and investors remain optimistic about Bitcoin’s price trajectory in the coming weeks, with many believing that BTC will begin a massive rally once it breaks its all-time highs. However, this breakout may take some time, as key data from Binance indicates bearish sentiment among futures traders. Top analyst and investor Ali Martinez shared the 4-hour long-short ratio on Binance, revealing that 53.71% of futures traders are shorting BTC. This bearish positioning suggests indecision in the market, as traders remain uncertain when Bitcoin will surpass the critical $69,000 level. The ongoing shorting trend could be a temporary barrier to Bitcoin’s momentum. However, the outlook could shift quickly, as spot investors might take advantage of the current dip and start buying Bitcoin. Increased spot buying could provide the liquidity needed to push BTC higher, reversing the bearish sentiment in the futures market. Related Reading: Solana Could ‘Go Parabolic’ Starting Today – Analyst Sets $370 Target If buying pressure intensifies, Bitcoin could soon challenge and break through the $69,000 resistance, potentially paving the way for a new all-time high. In the short term, investors are closely watching to see whether Bitcoin will consolidate further or gain enough momentum to continue its upward trend. BTC Testing Key Liquidity Levels Bitcoin is trading at $66,800 after facing a rejection from the $69,000 supply level. Despite the pullback, BTC remains strong, holding above the $66,000 mark. This price level is critical, as it will likely determine Bitcoin’s direction in the coming days. Should BTC fail to hold above $66,000, the price could seek liquidity at lower levels, with $64,000 as the next target. This level coincides with the 4-hour 200 moving average (MA) and exponential moving average (EMA), making it a key interest for buyers and sellers. On the other hand, if Bitcoin maintains its position above $66,000, the next likely move will be a renewed challenge of the $69,000 resistance or potentially a push toward $70,000. Related Reading: Dogecoin Breaks Above $0.12 Level – Time For DOGE To Catch Up? The coming days will be crucial in deciding whether BTC will resume its upward momentum or face further consolidation around these key levels. Traders and investors are closely watching to see how Bitcoin reacts at the $66,000 support, which could set the stage for the next big move. Featured image from Dall-E, chart from TradingView The Coin Rise
Dogecoin Rockets 30% In A Week, Sparking Hype For Uptober Rally
At press time, Dogecoin was found to have gained significantly as it jumped to $0.141556 following a 1.77% growth that occurred within the last 24 hours. In a week, the meme coin has gone pretty high at a 30% increase which propelled its 24-hour trading volume to $1.9 billion with an upsurge of 35%. Related Reading: Shiba Inu Soars: Analyst Predicts 71% Rally In ‘Meme Super Cycle’ – Details Positive Sentiment And Indicators For DOGE Ascent According to market analysts, there are a number of indicators that show it is the right time to invest in DOGE. As observed by Digitalcoinprice, several technical signals have already turned green, indicating traders see brightness in the future of the token. The coin has risen by 37% in the last 30 days. The forecasts hint that the coin might go even higher. One of the strongest indications of the bull trend is the curve of the 50-day Simple Moving Average going upward, which may be a good period for buyers to get in on the action. However, the traders are holding back as the 200-day SMA is going down. As reported by some, DOGE may even go to $0.13 before the year ends. Nevertheless, on the bigger picture, there is still a consensus over the fact that it is still moving in a positive direction for the medium-term trends of the coin. Experts’ Predictions And Influences On Dogecoin’s Future Other high-level cryptocurrency traders also, such as DonAlt, believe that Dogecoin has the makings of being bullish and can potentially exceed the $1 mark. Analysts like Crow see the occasional triangular patterns of Dogecoin in its price chart that reflect phases of consolidation from 2014 to 2021 and can indicate a breakout. Dogecoin is like Bitcoin of the meme coins! You don’t like it? Too bad, you don’t matter.$DOGE is going to $1. pic.twitter.com/mr5tVxFS2c — CROW (@TheCrowtrades) October 18, 2024 Crypto trader Kevin has highlighted a recent 3-day flip in Dogecoin. According to this technical indicator, the cryptocurrency is supposed to trend in the positive direction. In the past, such an indicator resulted in a huge price rally; DOGE had a 210% rally once such a signal appeared. Related Reading: ApeCoin Climbs Over 100% On Major Tech Advancements – Details The last time #Dogecoin flipped the 3 Day super trend and created a buy signal #DOGE pumped 212%. I think we can see something similar if not bigger this time around especially if #BTC enters into price discovery pic.twitter.com/azHFpo1plo — Kevin (@Kev_Capital_TA) October 19, 2024 Kevin suggested that if Bitcoin falls into a discovery phase then it’s likely Dogecoin will follow. He also mentioned the upcoming “golden cross” on the weekly chart, which is a bullish signal for DOGE to continue upward. Meanwhile, it’s still Elon Musk that influences these price movements. A passing comment by the “US Department of Government Efficiency” (D.O.G.E) has caused a price surge. Adding to this complexity is his political involvement in recent news. Analysts feel Musk’s overall influence and association with pro-crypto US election candidates such as former US President Donald Trump will aid in an increase in value for DOGE. Featured image from Techopedia, chart from TradingView The Coin Rise