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Crypto Shuttle News

Tag: Run

Ethereum Whales Signal Bullish Run With $40 Million Bet
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Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization, is experiencing a surge in optimism in the cryptocurrency market. The emergence of two new whales, according to crypto tracking platform Spot On Chain, further adds to the bullish sentiment surrounding Ethereum.

These whales have collectively withdrawn a substantial amount of ETH, totaling nearly 11,700 coins, worth approximately $40 million, from leading cryptocurrency exchange Binance.

Their significant purchase, made when ETH was priced around $3,450, indicates their confidence in the potential for further price appreciation.

The $ETH price sharply rebounded by ~4% in the past 2 hours, now beyond $3,500!

During this period, our system detected two more whales, 0x666 and 0x435, that withdrew a total of 11,657 $ETH ($40.28M) from #Binance at ~$3,455!

Follow @spotonchain and set alerts for $ETH now so… https://t.co/Tz4or4Pzc0 pic.twitter.com/ZoVXTtDWZq

— Spot On Chain (@spotonchain) April 8, 2024

Ethereum Trading Volume Soars

The cryptocurrency market is experiencing a surge in optimism, fueled by a strong performance from Ethereum (ETH) and the looming Bitcoin halving event.

ETH has seen its price jump nearly 10% in the past 24 hours, reaching $3,679 as of today. This impressive gain is accompanied by a significant rise in trading volume, which has spiked by nearly 70%, surpassing $15 billion.
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Source: Coingecko
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Meanwhile, Ethereum’s impressive rally is not an isolated event. The broader cryptocurrency market is experiencing a period of bullish momentum. Bitcoin, the undisputed leader, has also witnessed a significant surge, climbing above the $72,000 mark. This upward trend is largely attributed to the anticipation surrounding the upcoming Bitcoin halving, scheduled for approximately 11 days from now.

The Bitcoin halving is a pre-programmed event that occurs roughly every four years. It reduces the number of new Bitcoins awarded to miners for verifying transactions on the network.

Historically, these halving events have been followed by substantial price increases for Bitcoin, as the reduced supply often leads to increased demand and scarcity. Investors are hoping for a similar outcome this time around, contributing to the current marketwide rally.

Renewed Optimism Grips Crypto Investors

The recent surge in prices and trading volumes across the cryptocurrency market suggests renewed optimism and bullish sentiment among investors. Analysts and experts are anticipating further price gains for both Ethereum and Bitcoin in the coming days and weeks.

Featured image from Pexels, chart from TradingView

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
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April 9, 2024
Crypto Expert Predicts Massive Shiba Inu Run As Price Mirrors 2021
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Crypto expert Rekt Capital has suggested that Shiba Inu (SHIB) could follow a similar trajectory to its move back in 2021. If so, this sets up the crypto token for a parabolic move that could see it hit its all-time high (ATH) and even surpass it.

2024 Shiba Inu To Mirror 2021 Action

Rekt Capital mentioned in an X (formerly Twitter) post that SHIB’s retest was successful and that history was repeating itself. According to him, SHIB needs to break above the $0.000033285 price range to begin its uptrend continuation. In a previous post, the crypto analyst raised the possibility of SHIB’s price action mirroring the one from 2021.

He noted how SHIB came close to that price range but couldn’t break this resistance level. This was the same thing in late 2021, as Shiba Inu didn’t break that resistance level on the first attempt. That forced the meme coin to retest the $0.000026041 price level as a new support before confirming further upside.
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Source: X
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This time, Shiba Inu also retested that $0.000026041 price level during its recent price dip, which was partly caused by a wave of profit-taking. The meme coin showed great resolve and somehow managed to hold above that level, and it has since made a good recovery.

Now, it needs to break above the $0.000033285 price range to confirm that history is repeating itself and that a price surge to the one in 2021 is on the horizon. 2021 was SHIB’s breakout year when it enjoyed a mouth-watering gain of 46,000,000% on its way to an ATH of $0.00008845 in October 2021.

Analysts Optimistic About Shiba Inu’s Future Trajectory

Rekt Capital isn’t the only one optimistic about SHIB’s future trajectory. Crypto analyst and trader Xanrox recently predicted that SHIB could rise to $0.00008854 by July, representing a new ATH for the meme coin. Interestingly, that looks to be only the starting point for the meme coin, as other analysts have predicted that SHIB could shed another zero.

One of them is crypto investor and analyst Oscar Ramos, who expressed his bullish sentiment about the meme coin when he predicted it could rise to $0.0001. Technical analyst Javon Marks also echoed similar sentiments when he suggested that SHIB could rise to as high as $0.0001553.

Meanwhile, crypto analyst Ali Martinez once suggested that SHIB’s price gain in 2021 could be nothing compared to what lies ahead for the meme coin. Specifically, Martinez predicted that Shiba Inu could see a historic 122,000% price surge to $0.011.

At the time of writing, SHIB is trading around $0.00003116, up over 3% in the last 24 hours according to data from CoinMarketCap.
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SHIB price at $0.00003 | Source: SHIBUSDT on Tradingview.com
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Featured image from Coinpedia, chart from Tradingview.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
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March 29, 2024
The Year The Secular Bitcoin Bull Run Could End
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When the December 31, 2021 candle came to a close in Bitcoin, it didn’t just begin a new calendar year – it triggered a sell setup of epic proportions. Here is why the secular bull run in cryptocurrency could come to an end this year, and the first true bear market emerge.

Bitcoin Yearly Chart Triggers First Ever Sell Setup

You wouldn’t know it based on the recently bearish price action, but Bitcoin has been in an ongoing bull market since the second the genesis block was generated exactly thirteen years ago today.

In the span of a normal childhood growing into a teenager, the price per coin has ballooned and bubbled its way from zero to $68,000 per BTC.

Related Reading | Point & Figure: The Chart That Makes Bitcoin Support Cut And Dry

The trajectory hasn’t always been up, as the price chart has shown, but the asset has been outrageously bullish nonetheless. Many indicators back up this theory, having never crossed into bear territory ever once since price was recorded.

For example, the monthly MACD hasn’t made it below the zero line since 2015 despite the 2018-2019 “bear market.” The monthly Directional Movement Index had only a month-long temporary bear cross around mid-2015, but aside from that has never been bearish for an extended phase.

However, the sequence of ups and downs experienced over the years, like any thirteen-year-old would experience, has resulted in a specific sell setup according to the TD Sequential. The tool is a market timing indicator developed by Thomas DeMark – which on other timeframes has been useful in calling reversals.
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The signal that makes you want to scream "nine!" | Source: BTCUSD on TradingView.com
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At thirteen years since the asset’s debut, the first ever TD9 sell setup has appeared on the BTCUSD yearly price chart. On the TradingView BTCUSD Index, price action began in 2010. Bear market years of 2014-2015 and 2018-2019 excluded, there have been exactly 9 candles with a higher open than the previous candles – triggering the sell setup.

Theorizing The End Of The Secular Bull Run

Despite the ominous signal, all is not lost for the current bull cycle – although it does give more credence to another bull market-ending pattern that could be developing.

According to Elliott Wave Theory, markets grow in five waves. These five impulse waves are broken down into similarly-behaving sub-waves that alternate between uptrend and corrective phases. In the larger cycle, these corrective phases are what we call bear markets. In smaller timeframes, corrections often feel just as severe as the current sentiment would confirm.
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The good news and the bad news in one chart | Source: BTCUSD on TradingView.com
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Bitcoin appears to be well into its fifth impulse wave in the major motive wave cycle. The current count would suggest that the cryptocurrency is also within wave four of five sub-waves, hinting that the grand finale should unfold the in the year ahead.

Related Reading | Bitcoin Falls Flat: Examining A Rare Bull Market Corrective Pattern

If Bitcoin price does make it to $100,000 or higher, given the TD9 sell setup on the yearly, and the potential wave structure, this might be a sell signal worth taking. But when?

Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice.
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Featured image from iStockPhoto, Charts from TradingView.com
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January 3, 2022
Ethereum Regains Strength, Indicators Suggest Fresh Run To $4,850
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Ethereum started a fresh increase from the $4,500 zone against the US Dollar. ETH could extend upsides towards $4,850 unless it fails to stay above the 100 hourly SMA.
- Ethereum started a fresh increase above the $4,600 and $4,700 levels.
- The price is now trading above $4,650 and the 100 hourly simple moving average.
- There was a break above a major bearish trend line with resistance near $4,630 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could extend gains above the $4,800 resistance zone in the near term.
Ethereum Price Eyes More Upsides

Ethereum formed a decent support base above the $4,500 level. As a result, ETH price started a fresh increase above the $4,600 resistance zone and the 100 hourly simple moving average.

There was a break above a major bearish trend line with resistance near $4,630 on the hourly chart of ETH/USD. The pair climbed above the $4,700 level, but it is now facing resistance near the $4,725 level.

Ether is now consolidating gains and trading near $4,700. It is also well above the 23.6% Fib retracement level of the upward move from the $4,520 swing low to $4,725 high. An immediate resistance on the upside is near the $4,725 level.
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Source: ETHUSD on TradingView.com
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The next major resistance is near the $4,750 level. A break above the $4,750 level may possibly spark a fresh rally. The next key resistance is near the $4,850 level. Any more gains could lead the price towards the $5,000 level in the near term.

Dips Supported in ETH?

If ethereum fails to climb above the $4,725 and $4,750 resistance levels, it could extend its downside correction. An initial support on the downside is near the $4,675 level.

The first major support is near the $4,650 level and the 100 hourly SMA. The next major support is near the $4,620 level. It is near the 50% Fib retracement level of the upward move from the $4,520 swing low to $4,725 high. Any more downsides could lead the price towards the $4,550 support. The next major support for the bulls is near the $4,500 level.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now well above the 50 level.

Major Support Level – $4,550

Major Resistance Level – $4,850
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November 15, 2021
Bitcoin will peak at $253K, Ethereum at $22K this cycle if 2016 halving bull run repeats
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Bitcoin (BTC) may be over seven times higher than at its last halving, but if history repeats, that number could grow another 300% and more.

As tracked by on-chain data source Ecoinometrics this month, BTC/USD has the potential to eclipse estimates simply by following historical precedent.

Bitcoin: Compared to 2017, you ain’t seen nothing yet

Bitcoin currently trades 7.3 times its price since the halving in May 2020. If the last halving cycle is anything to go by, however, price action will not stop until it is 30 times higher.

The data relates to the roughly four-year halving cycles in which Bitcoin has exhibited identical behavior since its inception.

The current cycle, despite impatience from some traders, remains closely tied to the previous two.

Taking 2017 as an example, the next BTC price peak could be as much as $253,800 — and even then, Bitcoin would still be acting within previously defined parameters.

Ecoinometrics also includes data on Ether (ETH) and its performance relative to the stage of Bitcoin’s halving cycle.

The largest altcoin saw much larger comparative gains relative to Bitcoin — 120 times its halving price marked last cycle’s peak in 2018.

Thus, a repeat performance would mean ETH/USD trading at $22,300 — again not beyond the realms of possibility.

In terms of what the subsequent bear market could bring, Bitcoin would need to bottom out at around $42,000 to copy its post-2017 correction. ETH’s price, on the other hand, would fall to $1,347.

Bitcoin and Ether post-halving performance chart. Source: Ecoinometrics/Twitter

1 BTC = 1 BTC

If such sky-high figures are difficult to comprehend, they pale in comparison to what well-known data analyst Willy Woo now believes.

Related: Bitcoin retests support, with trader forecasting BTC price dip to $55K

In a tweet this week, Woo reiterated that this Bitcoin halving cycle would be unique in one specific way: It will end in things being priced in BTC, not United States dollars, as using anything to measure BTC value will be pointless.

“What’s my prediction for the top of this cycle? Since I think this is the last cycle, the one that takes us to saturation, which if it wins, we can’t put a USD value on it because things get valued in BTC,” he wrote.

“Thus the cycle top is easy to pick. It will be 1 BTC = 1 BTC.”

A separate post noted how close Bitcoin was getting by market capitalization compared to U.S. dollar M2 supply. The situation in the next five years — the remainder of the current cycle and start of the next — he commented, will be “very interesting.”