The price of Solana (SOL) may rise by over 45% in the coming weeks as the cryptocurrency intends to complete a double-bottom chart pattern against the U.S. dollar. A $150 SOL ahead? Double-bottoms typically appear at the end of a downtrend when the price falls to a low, rebounds, and returns to the level near the previous low. With bears unable to push the price to a newer low, the selling sentiment exhausts, leading to a sharp upside retracement and a breakout move afterward. SOL has been somewhat painting a similar pattern since Jan. 24, especially after extending its rebound …

Bitcoin (BTC) entered an upward channel in early January and despite the sideways trading near $40,000, order book analysts cited "significant buying pressure" and noted that the overall negative sentiment might be heading towards exhaustion. Independent analyst Johal Miles noted that BTC's price formed a bullish hammer candlestick on its daily chart on Jan. 24 and Feb. 24, hinting that the longer-term downtrend is close to an end. However, the rally above $41,000 on Feb. 28 was unable to create strong demand from Asia-based traders, as depicted by the lack of a China-based peer-to-peer Tether (USDT) premium versus the the …

Bitcoin (BTC) extended its gains nearly hitting $45K on March 1 as interest rate speculators reduced their bets on aggressive rate hikes in 2022, the number of whale addresses spiked, and amid speculations that BTC is proving itself as an apolitical safe-haven. Traders reduce half-point bets for March BTC's price surged more than 4% to reach nearly $45,000, a day after recording its biggest one-day increase since February 2021 as a flurry of sanctions on Russia, including a ban from accessing the global banking system SWIFT, raised concerns over their impact on global growth and inflation. For instance, swaps tied …

“The Market Report” with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss which decentralized autonomous organizations (DAOs) have the most potential in 2022. But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. Next up, the main event. Join Cointelegraph analysts Benton Yaun, Jordan Finneseth and Sam Bourgi as they debate which DAO has the most potential. Will it be Bourgi’s pick of MonkeDAO, with its …

Terra (LUNA) emerged as one of the best performing financial assets in February, a month mired by geopolitical conflicts and their negative impacts on the crypto market. LUNA decouples from the crypto market LUNA's price surged by a little over 75% to reach $91.50 at the month's UTC close. In comparison, the percentage performance of other top tokens, mainly Bitcoin (BTC) and Ether (ETH), in the same period came out to be around 12.25% and 9%, respectively. Interestingly, most of LUNA's gains in February surfaced on the month's last day. The Terra token jumped 26% on Feb. 28, in part …

Even though Ether (ETH) price bounced over 20% from the $2,300 low on Feb. 22, derivatives data shows that investors are still cautious. To date, Ether's price is down 24% for the year, and key overhead resistances lay ahead. Ethereum's most pressing issue has been high network transaction fees and investors are increasingly worried that this will remain an issue even after the network integrates its long-awaited upgrades. For example, the 7-day network average transaction fee is still above $18, while the network value locked in smart contracts (TVL) decreased 25% to $111 billion between Jan. 1 and Feb. 27. …

Bitcoin (BTC) rallied above $41,000 on Feb. 28 in a new sign of buying sentiment returning after last week's brutal selloff across the risk-on markets, including the S&P 500. BTC's price jumped by over 9% to reach $41,300 in part as traders reacted to the ongoing development in the Russia-Ukraine crisis. In doing so, the cryptocurrency briefly broke its correlation with the U.S. stock market indexes to perform more like safe-haven gold, whose price also went higher in early trading Monday. Bitcoin downtrend exhausting — analyst Johal Miles, an independent market analyst, spotted "significant buying pressure" in the market, adding …

Mirror Protocol, a decentralized finance (DeFi) protocol built on the Terra blockchain, was hit by one of the biggest collapses in financial history this week after Vladimir Putin ordered military strikes against Ukraine. Terra tokens rally Mirror Protocol's native token, MIR, dropped to $0.993 on Feb. 24, its worst level to date amid a selloff across the broader crypto market. But a sharp rebound ensued, taking the price to as high as $1.41 two days later, up more than 40% when measured from MIR's record low. Just like the drop, MIR's upside retracement came in the wake of similar recoveries …

Ether (ETH) reached a $3,280 local high on Feb. 10, marking a 51.5% recovery from the $2,160 cycle low on Jan. 24. That price was the lowest in six months, and it partially explains why derivatives traders’ main sentiment gauge plummeted to bearish levels. Ether’s futures contract annualized premium, or basis, reached 2.5% on Feb. 25, reflecting bearishness despite the 11% rally to $2,700. The worsening conditions depict investors’ doubts regarding the Ethereum network’s shift to a proof-of-stake (PoS) mechanism. As reported by Cointelegraph, the much-anticipated sharding upgrade that will significantly boost processing capacity should come into effect in late …

Bitcoin (BTC) price traded down 23% in the 8 days following its failure to break the $45,000 resistance on Feb. 16. The $34,300 bottom on Feb. 24 happened right after the Russian-Ukraine conflict escalated, triggering a sharp sell-off in risk assets. While Bitcoin reached its lowest level in 30 days, Asian stocks were also adjusting to the worsening conditions, a fact evidenced by Hong Kong's Hang Seng index dropping 3.5% and the Nikkei also reached a 15-month low. The first question one needs to answer is whether cryptocurrencies are overreacting compared to other risk assets. Sure enough, Bitcoin's volatility is …

A rebound rally in the Terra (LUNA) market this week risks exhaustion as the price retests a key trendline for a potential pullback. Descending channel risks LUNA decline LUNA has been trending lower inside a falling channel—made up of two parallel descending trendlines—since December 2021. In doing so, the Terra token typically tests the lower trendline as support for a rebound to the upper trendline, as shown in the chart below. Similarly, a pullback from the upper trendline sends the price to the lower trendline. For now, LUNA looks poised to repeat the correction move, taking further cues from its …

Buyers returned to the Bitcoin (BTC) market, locating interim upside opportunities as the price rebounded to nearly $40,000 on Feb. 25, gaining 16% in less than 24 hours. Investors bulk up Bitcoin holdings The number of Bitcoin addresses with a balance greater than 0.01 BTC (~$400) reached a record high of 9.51 million, the latest data from CoinMetrics shows. Meanwhile, the number of addresses that hold at least 0.1 BTC (~$3,850) also reached 3.34 million for the first time in history. On the whole, Bitcoin's network added a little over 24,500 addresses with a non-zero balance on Thursday, coinciding with …