Cardano set for rally if symmetrical triangle breakout holds as support
Cardano (ADA) price edges higher on Tuesday following an over 6% drop the day before. ADA is retesting a key support level, and if it holds, Cardano’s price could rally ahead. On-chain data supports the bullish thesis, as more traders are betting on Cardano’s price to rise.
LINK, PYTH rally as top Chainlink oracles secure over $50 billion in value
Chainlink (LINK) and its oracles Pyth Network (PYTH), WINKLink (WIN), Chronicle (XNL), RedStone and Switchboard have secured over $50 billion in crypto assets across blockchains, according to data from DeFiLlama. Most of the tokens linked to these oracles, which provide world data and price feeds to smart contracts and blockchains, are posting gains on Tuesday.
Crypto’s step back for acceleration
The cryptocurrency market starts the week on the defensive, losing 1.2% of its capitalisation in 24 hours to $2.27 trillion, although it is still up 3% from a week ago. This drawdown looks like short-term profit-taking from the recent wave of gains amid the risks of the upcoming jobs report and Powell’s comments.
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Cardano Price Forecast: On-chain metrics and technical outlook signal bearish trend
Cardano is trading slightly down around $0.33 on Monday, struggling against resistance from its previously broken ascending trendline. Declining daily trading volume reinforces a bearish outlook.
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Bitcoin found support around its crucial level of $66,000, suggesting a potential recovery. However, Ethereum and Ripple show signs of weakness, and a close below their key support levels would continue their ongoing decline.
Solana Price Forecast: SOL corrects even as on-chain metric hits record high
Solana corrects to the $170 level early on Friday. The native token of the Solana blockchain is in a state of decline even as on-chain metrics suggest rising activity on the chain. Data from Blockworks shows that Solana has noted a spike in its activity, likely in response to meme coins.
Crypto Today: XRP, Bitcoin and Ethereum decline as Ripple files response to SEC appeal
XRP loses over 1.30% as Ripple's executive confirms the filing of an important document in the appeals process in the SEC lawsuit. Bitcoin corrects less than 1% and sustains above $67,500. Ethereum is down nearly 0.20%, holding above the key support level of $2,500.
Bitcoin: New all-time high at $78,900 looks feasible
Bitcoin (BTC) trades slightly down at around $67,500 on Friday after finding support around the $66,000 level on Wednesday, following three consecutive days of decline earlier in the week.
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