Tag: Neutral

HYPE’s price has experienced a significant surge over the past week, increasing by 40% and reaching a new all-time high above $64.

Profit-Taking Slows Rally

The rally appears to have slowed in the last 24 hours, with some investors opting to take profits rather than pursue further gains. HYPE climbed from below $40 to over $64 in the past few weeks, marking the most impressive rally in the crypto market during that period. This surge added billions of dollars to Hyperliquid’s total market capitalization and was driven by increased trading volume and substantial interest.

Whale Activity Signals Shift

As anticipated, the rally has begun to slow as some investors seek to realize profits. The on-chain analytics account Lookonchain identified a wallet that sold 151,574 HYPE, valued at $9.25 million, a few hours ago. The trader has also placed limit sell orders for an additional 170,000 HYPE, worth approximately $10.6 million, at prices between $63.45 and $70.55.

Market Position and ETF Performance

At the time of this report, HYPE is the 11th-largest cryptocurrency project by total market capitalization, estimated at around $15 billion. The altcoin is undoubtedly the best-performing large-cap crypto this week, and its price surge has brought it close to surpassing Dogecoin for the 10th position.

HYPE-based spot exchange-traded funds are also experiencing a surge in assets under management, contrasting with a generally declining market. While Bitcoin ETFs saw over a billion dollars in AUM outflows, HYPE attracted more than $70 million, according to CryptoPotato.

XRP Price Consolidates After Correction

The price of XRP has begun a downward correction from the $1.3750 zone. Currently consolidating, the cryptocurrency could attempt another increase if it remains above $1.3280.

Technical Analysis

XRP initiated a downside correction after failing to sustain its position above $1.3720. The price is now trading above $1.350 and the 100-hourly Simple Moving Average. A bearish trend line is forming, with resistance at $1.3650 on the hourly chart of the XRP/USD pair, according to data from Kraken. The pair could initiate a fresh increase if it settles above $1.3750.

Support Levels

XRP experienced a notable upward movement, surpassing $1.3250 and $1.3280, outperforming both Bitcoin and Ethereum. The price gained momentum, breaking above the $1.370 resistance. A high of $1.3741 was reached before a downside correction began. The price subsequently fell below $1.3450 and $1.3420, dipping below the 50% Fibonacci retracement level of the upward move from the $1.3001 swing low to the $1.3741 high. Currently, the price is trading above $1.350 and the 100-hourly Simple Moving Average.

Resistance Levels

If the price resumes its upward trajectory, it may encounter resistance near the $1.3650 level, coinciding with a bearish trend line on the hourly chart. The primary resistance level is near $1.3740, with a potential rise to test $1.3880 if surpassed. Further gains could lead to a test of the $1.40 resistance, with the next major hurdle for bulls potentially near $1.450.

Potential Downside

If XRP fails to break through the $1.3740 resistance zone, a fresh decline could occur. Initial support on the downside is near $1.3370. The next significant support levels are near $1.3280 and the 61.8% Fibonacci retracement level of the upward move from the $1.3001 swing low to the $1.3741 high. A break and close below $1.3280 could lead to a further decline towards $1.3175, with the next major support zone near $1.3120. Further losses could see a test of $1.30.

Technical Indicators

The Hourly MACD for XRP/USD is gaining momentum in the bullish zone. The Hourly RSI (Relative Strength Index) for XRP/USD is currently above the 50 level.

Major Support Levels: $1.3370 and $1.3280.

Major Resistance Levels: $1.3650 and $1.3740.

Dogecoin (DOGE) has initiated a recovery, surpassing the $0.10 mark against the US Dollar. However, the cryptocurrency is now encountering resistance near $0.1050 and may face challenges in sustaining further gains.

Price Analysis

DOGE began its recovery from $0.10, climbing above $0.1020. The price is currently trading below $0.1035 and the 100-hourly simple moving average. A bearish trend line is forming, with resistance at $0.1030 on the hourly chart of the DOGE/USD pair, according to data from Kraken. The price could continue its upward movement if it remains above $0.10.

Resistance Levels

Dogecoin’s price, mirroring movements in Bitcoin and Ethereum, initiated a recovery from the $0.10 zone. DOGE surpassed resistance levels at $0.1015 and $0.1020. A notable upward move occurred above the 50% Fibonacci retracement level, calculated from the decline between the $0.1066 swing high and the $0.0968 low. However, the price struggled near $0.1045. A bearish trend line is also forming, with resistance at $0.1030 on the hourly chart of the DOGE/USD pair.

Currently, Dogecoin is trading below $0.1035 and the 100-hourly simple moving average. Immediate resistance on the upside is near $0.1030. The first significant resistance for bulls could be near $0.1042, coinciding with the 76.4% Fibonacci retracement level of the downward move from the $0.1066 swing high to the $0.0968 low. The next major resistance is near $0.1050. A close above $0.1050 could potentially push the price towards the $0.1085 resistance level. Further gains might lead to a test of the $0.1120 level, with $0.1150 as the next potential target for bulls.

Potential Downturn

If DOGE fails to break above $0.1050, a continued decline is possible. Initial support on the downside is near $0.1005, followed by the $0.10 level. The primary support level is at $0.0980. A break below $0.0980 could trigger a further price decrease, potentially leading to a drop towards $0.09650 or even $0.0950 in the short term.

Technical Indicators

The hourly Moving Average Convergence Divergence (MACD) for DOGE/USD is currently gaining bullish momentum. The hourly Relative Strength Index (RSI) for DOGE/USD is above the 50 level.

Major support levels are at $0.1005 and $0.1000. Major resistance levels are at $0.1050 and $0.1120.

Ethereum Price Correction

Ethereum’s price has begun a downward correction from $2,150. To resume its upward trajectory, ETH must surpass resistance levels at $2,120 and $2,150. The cryptocurrency has retreated below the $2,125 zone and is currently trading above $2,100 and the 100-hourly Simple Moving Average.

A bearish trend line is forming, with resistance at $2,110 on the hourly chart of ETH/USD, according to data from Kraken. The pair could continue to decline if it remains below the $2,150 zone.

Support Levels Hold

Ethereum failed to maintain its position above the $2,145 zone, mirroring Bitcoin’s decline. The price of ETH subsequently fell below the $2,120 and $2,110 levels. Bears pushed the price below the 38.2% Fibonacci retracement level, calculated from the upward movement between the $2,001 swing low and the $2,147 high. However, bulls have been active near the $2,065 level.

The hourly chart of ETH/USD also shows a bearish trend line forming, with resistance at $2,110. Ethereum is currently trading above $2,100 and the 100-hourly Simple Moving Average. If bulls maintain their activity above $2,065, the price may attempt another increase.

Immediate resistance is observed near $2,110, with the first key resistance near $2,140. The next significant resistance level is near $2,150. A decisive move above the $2,150 resistance could potentially drive the price towards the $2,220 resistance level. A break above $2,220 might lead to further gains in the coming days, potentially pushing Ether towards the $2,250 resistance zone or even $2,320 in the near term.

Potential for Further Decline

If Ethereum fails to overcome the $2,110 resistance, a fresh decline could be initiated. Initial support on the downside is near the $2,075 level. The first major support is situated near the $2,055 zone, coinciding with the 61.8% Fibonacci retracement level of the upward move from the $2,001 swing low to the $2,147 high. A clear break below the $2,055 support could push the price towards the $2,020 support level. Further losses might lead to a test of the $2,000 region, with the main support potentially at $1,940.

Technical Indicators

The Hourly MACD for ETH/USD is gaining bullish momentum. The Hourly RSI for ETH/USD is currently above the 50 zone.

Major Support Level: $2,055
Major Resistance Level: $2,150

XRP’s recent price movements indicate growing uncertainty, with volatility decreasing on longer timeframes while shorter-term charts show repeated price reactions at established support and resistance levels. These periods of contraction often precede significant directional shifts, making the upcoming trading sessions crucial for the cryptocurrency.

Daily Chart Analysis

On the daily timeframe, XRP remains below a long-term descending trendline and is struggling around the 100-day moving average, currently near $1.38. This moving average has recently acted as dynamic resistance, preventing buyers from sustaining upward momentum.

The price is also approaching the narrowing section of a broader descending channel, suggesting a potential breakout is developing. As volatility compresses, XRP appears to be entering a decision zone where prolonged consolidation becomes less likely.

Currently, the primary resistance level is the $1.75-$1.85 supply region, with stronger resistance around the 200-day moving average near $2.0. On the downside, key support is located around the $1.10-$1.20 demand zone.

The most probable short-term scenario is continued compression around the 100-day moving average at $1.38, followed by an impulsive breakout. A bullish breakout above the descending channel and the $1.40-$1.45 area could trigger a recovery toward the $1.75-$1.85 resistance region. Conversely, rejection from current levels may reinforce the broader bearish trend and expose lower support levels.

4-Hour Chart Analysis

The 4-hour chart reveals a clearer range-bound structure. XRP has been oscillating between support around the $1.27-$1.30 zone and resistance near $1.53-$1.57 for several weeks, forming a relatively stable consolidation range.

Recently, the price revisited the lower boundary of this range near $1.30, triggering another bullish reaction. This suggests buyers continue to defend the support area, increasing the possibility of a short-term move higher.

As long as XRP holds above the $1.30 support region, the path toward the upper boundary around $1.53-$1.57 remains open. Such a move would represent a corrective bullish swing within the broader sideways structure rather than confirmation of a larger trend reversal.

However, repeated tests of support tend to weaken demand over time. Therefore, failure to maintain the $1.30 level could invalidate the consolidation range and increase the probability of renewed downside pressure. For now, the market structure favors continued ranging behavior, with the upper resistance zone near $1.55 acting as the primary target for any short-term recovery.

Bitcoin’s price appeared poised for further declines over the weekend, dipping below the $75,000 mark on Saturday morning. However, the leading cryptocurrency has since recovered somewhat and is attempting to reclaim the $77,000 level as of this writing. Simultaneously, an increase in the supply held by Bitcoin’s long-term investors was observed, though the significance of this signal is questionable.

Why BTC LTH Supply Data Is Potentially Misleading

In a recent post on the X platform, the pseudonymous analyst Darkfost highlighted a surge in the Bitcoin supply held by long-term holders (LTH) over the past few days. However, this apparent rise in LTH activity may not be as indicative of Bitcoin’s growth as the data might suggest.

Citing data from CryptoQuant, Darkfost noted that the long-term holder supply has increased from 15 million to 15.8 million BTC in the last two days. The on-chain analyst pointed out that this metric is among several data points affected by Coinbase’s movement of approximately 800,000 BTC in November 2023.

Between November 22nd and 23rd, the U.S.-based crypto exchange transferred 800,000 BTC, then worth nearly $70 billion, between its internal wallets. As Darkfost explained, this maintenance transfer invalidated old LTH UTXOs (unspent transaction outputs) and created new, but skewed, Bitcoin datasets.

The crypto analyst wrote on X: “As a result, datasets across multiple platforms incorporated this movement, affecting UTXO-based metrics, age and value cohorts, STH/LTH cost basis, realized value, volumes, and more.”

Saturday, May 23rd, marked six months since the Bitcoin transfer, with the moved BTC now fully transitioned from the short-term holder (STH) to the long-term holder supply. Typically, an increase in LTH supply suggests increased accumulation and growing confidence among experienced crypto investors. However, market participants should exercise caution when interpreting this on-chain signal, as it may not accurately reflect an increase in investor demand.

What’s Next For Bitcoin Price?

In a separate post on the X platform, Darkfost identified the next major resistance level for Bitcoin’s price. Highlighting the STH cost basis, the analyst stated that this resistance currently sits just above the $80,000 mark. According to Darkfost, short-term investors appear to be opting to cut their losses rather than holding for a reversal, as evidenced by the resistance Bitcoin faces at their average cost basis. Therefore, the leading cryptocurrency needs a sustained break above the $80,000 ceiling for its recovery to continue.

As of this writing, BTC is valued at around $76,490, reflecting a 1% price increase in the past 24 hours.

XRP Price Faces Critical Juncture as Compression Phase Tightens

XRP is currently undergoing a compression phase, with technical analysis suggesting that its price action is nearing a pivotal point. This could see patience give way to panic before a clear direction emerges. The cryptocurrency’s chart presents a picture of uncertainty, but a crucial support level could determine XRP’s next move, along with a key price point needed for bullish confirmation.

Descending Broadening Wedge Pattern

XRP’s price has been trending downward, marked by lower highs since the start of the year. This extends to a correction from its July 2025 peak of $3.65. According to technical analysis by crypto analyst Egrag Crypto, this price action has formed a descending broadening wedge on XRP’s higher-timeframe chart.

A descending broadening wedge pattern often appears during late-stage accumulation phases, characterized by expanding volatility within downward-sloping boundaries, rather than indicating outright weakness. “This is NOT a random formation,” the analyst wrote. “Historically, these structures often produce final capitulation THEN violent expansion.” Egrag Crypto’s chart indicates a 57% probability of an upside resolution, compared to a 43% chance of further downside. Current price action supports a downward move, leading Egrag to describe the current phase as short-term bearish compression, even though the broader macro structure remains bullish unless the pattern breaks.

Key Levels to Watch

The most critical downside level on the chart is $1.11. Egrag identifies this as crucial support, acting as the boundary between normal volatility within the structure and a more significant breakdown. XRP is currently trading around $1.36, below moving averages including the EMA20 at $1.391, the EMA50 at $1.404, and the EMA200 at $1.684. A drop below $1.11 would weaken XRP’s technical position and potentially lead to a 70% decline to $0.32. While not the analyst’s base case, this scenario highlights the potential for a liquidity sweep if the descending broadening wedge breaks downwards.

The bullish outlook hinges on XRP confirming a move above $3. The analyst also noted that a weekly or monthly reclaim above the $2.65 to $3 range would be significant, as it would signal XRP breaking above the upper resistance area that has contained the broadening wedge.

The CLARITY Act, which passed the Senate Banking Committee on May 14 and awaits a Senate floor vote, could potentially drive an additional $4 billion to $8 billion in ETF inflows into XRP. This influx of capital could realistically trigger a retest of that zone. Should XRP reclaim and hold above $3, Egrag’s expansion targets range from $7 to $11.

During a week of significant volatility for most exchange-traded funds (ETFs) tracking major digital assets, those following XRP’s performance remained positive. However, the underlying asset itself struggled to gain traction, even dipping to a multi-month low before a minor recovery.

ETF Inflows Amid Broader Market Downturn

Spot XRP ETFs experienced net inflows of just over $22 million during the previous week, extending a streak that began in May to three consecutive weeks. According to SoSoValue data, the last day with more outflows than inflows was April 30.

While $22 million is less substantial than some previous inflows for Ripple ETFs, it’s notable that this occurred during a week when Bitcoin and Ethereum ETFs faced significant outflows. Spot Bitcoin ETFs recorded their worst trading week since late January, with over $1.25 billion leaving the funds. Ethereum ETFs saw a net withdrawal of $216 million, slightly less than the previous week’s $255 million. Furthermore, ETH ETFs have not seen a single day in the green since May 8.

In contrast, ETFs tracking SOL gained over $15.5 million, while the two HYPE funds attracted over $72 million as the underlying asset outperformed and reached a new all-time high of just over $63.

XRP Price Stagnation

Despite the positive performance of the spot Ripple ETFs, XRP’s price failed to surpass $1.42. After being rejected at $1.55 the previous week, the token declined, starting the new business week at $1.42. It continued to fall with the broader market, culminating in a significant price drop yesterday to below $1.30.

This marked its lowest price in over a month and a half, representing a 15% loss in value since the May 17 surge to $1.55. However, it rebounded in the last 24 hours, likely due to positive developments regarding the US-Iran war, and is now trading near $1.35.

Technical Analysis and Outlook

Ali Martinez warned that XRP has broken out of its rising trend line within a symmetrical triangle on the daily chart. He predicted a further decline to around $1.14 if the token fails to reclaim the $1.40 level soon.