📊 Altcoins are gradually being sold off According to Crypt | TopCryptoNews on Binance Square

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📊 Altcoins are gradually being sold off
According to CryptoQuant, the number of altcoin deposits to the Binance exchange over the past week has reached a peak since the end of 2024.
Are prices really good enough already to start selling? 🤔
#Altcoins #Altcoin   

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⚡️ Will $ENA Smash the $0.65 Barrier After 12% Rally? 🔸 ENA Nears Key Resistance Zone Ethena (ENA) traded around $0.63 at press time, after gaining roughly 12% in the past 24 hours. The daily trading volume stands close to $780 million. Despite being down 5% over the past week, the short-term trend is showing renewed strength. Meanwhile, the token remains in consolidation just under the $0.65 level, identified as a critical point in previous market cycles. Analyst CryptoAmsterdam noted that breaking and holding above this range quarter mark could act as a trigger for a further move up. If that happens, price targets may shift toward the mid-range near $0.75. If not, a move back to support near $0.35 remains possible. 💬 #ENA Still consolidating below the 0.25 (range quarter) resistance, looking very good.Two scenarios:> We flip the 0.25After some more consolidation, and continue to fly higher. This level is often (!) a launchpad into stage 5 of the cycle.If we do break… — CryptoAmsterdam August 7, 2025 🔸 Indicators Support Upward Momentum On the 4-hour chart, ENA trades above the 20, 50, 100, and 200-period exponential moving averages (EMAs). These are aligned in bullish order, with the current price sitting well above the 200 EMA near $0.49. This pattern often suggests a continuation in the current trend. Additionally, the Money Flow Index (MFI) reads 57. This signals growing buying interest but still leaves room before overbought conditions are reached. An MFI under 80 suggests the trend may still have room to run. 🔸 Retail Traders Are Active Again Data from CryptoQuant shows retail activity has increased sharply. The latest readings in the $0.60 to $0.70 range are marked red, labeled as “Too Many Retail,” a sign of heavier participation by smaller traders. Similar past clusters have often appeared near local peaks. Crypto Rand noted the same trend, pointing to strong inflows and steady consolidation. The current trading pattern suggests the market is waiting to see whether this level will break or hold.

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🔥 Cardano price boost as Midnight’s NIGHT token airdrop goes live Cardano is riding a wave of renewed investor interest following the highly anticipated launch of the Midnight Network’s NIGHT token airdrop. The toke airdrop, described by many as one of the most ambitious token distributions in the crypto space, has reignited bullish momentum within the Cardano ecosystem. With strong fundamentals, favourable technical setups, and growing community engagement, ADA may now be on the verge of a significant breakout. 🔸 NIGHT airdrop ignites ecosystem excitement The Midnight Network, Cardano’s privacy-focused sidechain, officially launched the NIGHT token airdrop — known as the “Glacier Drop” — on August 5. The drop targets up to 30 million wallets across eight major blockchain ecosystems, including Ethereum, Bitcoin, and Solana. However, #Cardano wallets received the lion’s share, with 50% of the total allocation reserved for ADA holders. This strategic move not only reinforces Cardano’s dominance in the airdrop but also rewards long-term supporters. Over 23,000 redemptions, totalling more than 470 million NIGHT tokens, were processed within the first few days — an early sign of high user engagement. Despite some technical glitches involving Ledger wallet signatures and destination address issues, the overall process has been praised for its smooth user experience. 🔸 Cardano (ADA) price breakout from descending triangle While the airdrop has drawn significant attention, the technical charts for Cardano (ADA) have quietly become increasingly bullish. Technical analysis points to a successful breakout from a long-standing descending triangle, followed by a textbook retest at the $0.72 level. This level now serves as a critical support zone. Cardano’s ability to hold above it suggests that the rally may be structurally sound. Currently, #ADA is retesting a key resistance area between $0.74 and $0.76. Multiple analysts agree that a break above this zone could open the door to $0.84, a crucial breakout point.

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🚀 Tom Lee Believes Ethereum Could Reach $16,000 Fundstrat’s Tom Lee acknowledges research suggesting Ethereum may reach its record high if it returns to the 2017 price ratio against Bitcoin. The prediction came during a CNBC interview on Bitmine’s increasing ETH accumulation. Fundstrat’s Tom Lee cited internal research suggesting Ethereum’s value could quadruple and reach $16,000 if it returns to its 2017 price ratio against Bitcoin. 🔸 Analyst Ties Ethereum Price to Historic Ratio Tom Lee referred to a new presentation by Sean Farrell, Fundstrat’s head of digital asset strategy. Farrell’s analysis suggests Ethereum could reach $16,000 if it regains its 2017 ETH/BTC ratio peak of 0.14. He called it the “biggest macro trade,” highlighting Wall Street’s shift toward stablecoins and BlackRock’s BUIDL launch on Ethereum as signs of rising institutional adoption. Meanwhile, the $16,000 forecast isn’t the first bold prediction from the BitMine Chairman. He had earlier predicted Ethereum could hit $60,000, citing research comparing ETH’s role in finance to Wall Street’s infrastructure. Ethereum’s dominance in stablecoins, with a market share of over 60%, and its rising use in tokenization reinforce BitMine’s bullish outlook. 🔸 Will #Ethereum Reach $16,000? Following the forecast, prominent analyst Crypto Patel supported this bullish outlook, showing ETH currently consolidating within a massive ascending triangle that began forming after its peak in 2021. The chart highlights a breakout structure similar to previous cycles, particularly the 325% rally that followed Ethereum’s last breakout, propelling the price to $4,878 in November 2021. If this pattern repeats, a 323% surge from current levels near $3,666 would propel #ETH toward the $16,000 target zone. This bullish setup gains even more weight when looking at Ethereum price action in 2017. Ethereum skyrocketed from under $7.98 in January 2017 to over $407 in June 2017, marking a life-changing rally of over 5,000% surge.

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