The cryptocurrency world has been incredibly lively lately, with both altcoins and mainstream coins surging, creating numerous opportunities and buzz. Are you also watching the price fluctuations, wondering whether to buy or not?
Don't worry, let's review the highlights of this market wave with me, from the bull market potential of #xrp , to the rise of Ethena (#ENA ), to the "dream" and challenges of #DOGE , and the steady rise of #ETH ... I guarantee you will be satisfied and have a clear understanding of the situation! 😉#加密总市值创历史新高
XRP bull run sprints, whales transfer $108 million, is the $3.80 mark about to be revealed?
XRP has been performing quite well in recent days. Over the past week, XRP has surged by 20%, a very strong trend.
First, let me tell you a big news. In the past 24 hours, two super large transactions were "moved" by whales - a total of 33.396 million XRP, equivalent to US$108 million, were all transferred to the Coinbase exchange.
The market immediately went wild with this move. Usually, a large influx of funds into exchanges means someone is ready to sell and cash in on their profits. After all, no one wants to see their gains reversed, right? 🤔
Furthermore, according to CryptoQuant data, XRP exchange reserves are continuing to rise, further indicating that more and more XRP is flowing back to trading platforms, ready to be “shipped” at any time.
Long-term holders have begun to cash in their profits, which has undoubtedly cast a shadow on the short-term market - many people have begun to worry whether this bull market needs to take a breather and enter a period of adjustment?
As of now, the price of XRP is around $3.16, and the trading volume is 15% less than yesterday. This shows that some traders have begun to "wait and see". After all, the price is close to its historical high, so it is normal to be cautious.
But don’t worry, technical analysis gives us a glimmer of hope! AMBCrypto experts pointed out that XRP has successfully broken through the downtrend line on the daily chart, and the 4-hour chart has also cleared a bullish flag.
Even more exciting is that XRP currently appears to be forming an inverted head and shoulders pattern. Although it has not yet been fully confirmed, this is a classic reversal signal!
If confirmed later, this wave of growth may have another 15% room to go, and it is not a dream for the price to rush to a new high of $3.80. The engulfing candlestick pattern in the past week has also given bulls a lot of confidence.
Judging from the Bollinger Bands, the price of XRP is running near the upper band, which usually means a strong rise, but there may be some volatility or small pullbacks in the short term, giving the market a chance to "breathe".
At the same time, the RSI relative strength index is 59, indicating that the bulls are still in control and the possibility of further upward movement still exists.
Finally, let’s look at the liquidation situation. The current main forced liquidation range is between $3.13 and $3.33. Within this range, the market value of long positions reaches $170 million, while short positions only reach $24.85 million, a significant gap!
This means that most traders are betting that prices will continue to rise, the bulls are overwhelmingly ahead, and the market can continue to ignite!
Overall, XRP's recent rally is truly encouraging. While whales' large transfers suggest selling, technical indicators and market sentiment continue to favor the bulls. The $3.80 mark is looming, waiting for a breakout. While a short-term pullback is inevitable, as long as bulls maintain their momentum, the bull market is poised for a resurgence. 👀
Ethena (ENA) Soars 31%! Despite Retail Investors and the Absence of Whales, Can It Break Through $1?
When talking about XRP, we cannot fail to mention Ethena (ENA).
This altcoin has seen a 31% surge over the past week, climbing from $0.51 to $0.855, a 7-month high! Furthermore, ENA's monthly and yearly gains have also been impressive, soaring 143% and 152% respectively, making it a true dark horse in the crypto market. 😎
ENA's recent surge is largely due to network activity and retail investor enthusiasm. Santiment data shows that Ethena has experienced a seven-day positive divergence between price and the number of active addresses (DAA), indicating a substantial increase in user demand and a continued undervaluation of the asset relative to network activity.
Even more interesting is that the ratio of profitable to losing trades on the chain is a staggering 4.16! Specifically, there were 75.38 million profitable trades, while only 18.08 million were losing trades. This suggests that the majority of traders are making money, and the overall sentiment is quite healthy.
On the other hand, CryptoQuant data shows that large whale orders have been extremely rare in both the spot and futures markets over the past 30 days. This also means that large funds are temporarily waiting and taking a more cautious attitude, and are not rushing to enter the market.
So, who's driving this surge? The answer: retail investors! According to Coinalyze, Ethena's buying volume has exceeded its selling volume for three consecutive days. The latest bid-ask spread is a positive 8.33 million, an increase from the previous day. In other words, it's retail investors who are frantically buying and driving the price up.
In terms of technical indicators, ENA price broke through the turning indicator (SAR) and the stochastic RSI was as high as 85.37, indicating strong buying.
If ENA can hold the $0.70 support, a breakout above $1 is imminent. Of course, if support is broken, ENA could fall back to around $0.55 for further correction. However, given the current buying momentum, a breakout and upward movement in the short term is still possible.
Regardless, ENA's current trend deserves close attention. Whether retail investors' enthusiasm will continue will be key to determining the next move. 📊
Is Dogecoin's dream of reaching $1 shattered? Analysts offer this perspective...
Among the hot coins, Dogecoin (DOGE) has always attracted much attention. After all, the community vitality and story behind the "local dog" make it unique in the crypto world.
But recently, analyst VisionPulsed made a more sober judgment - whether Dogecoin can achieve $1 depends on the overall environment and the cooperation of multiple conditions.
He believes that for Dogecoin to experience its next parabolic rise, Ethereum must first break through its 2021 all-time high to confirm a new bull market. Furthermore, the "extended window" after Bitcoin's halving must open, coupled with the expansion of the global M2 money supply to support risk appetite. In other words, Dogecoin's own energy alone is not enough.
Although Ethereum has broken through $4,000, it remains within its 2021 technical resistance range. DOGE's price trend also shows a clear top-to-bottom candlestick pattern, suggesting a significant risk of a partial reversal. The market remains in a period of wide-ranging accumulation, with frequent false breakouts and rallies. A true altcoin season has yet to arrive.
Most importantly, the market environment isn't fully aligned. The halving cycle is approximately 486 days away, and while the M2 indicator has rebounded, historical experience shows that liquidity indicators aren't always effective. VisionPulsed concluded that for Dogecoin to "reach the moon," it will require the combined efforts of broader and more complex market forces.
In the short term, fluctuations around 30 cents remain a hot trading range, but whether this wave of market movement can be sublimated into a sustained rise depends on the performance of the broader market and mainstream assets. 🐕🚀
Dogecoin's $0.30 "iron threshold" is still difficult to break through
Continuing with Dogecoin, while the overall trend hasn't turned bullish yet, it has recently made numerous attempts to break through the $0.30 mark, only to be stopped each time, forming a resolute resistance level. Since March, $0.30 has been its ceiling, with prices mostly fluctuating between $0.17 and $0.22.
At the end of July, DOGE surged to $0.275, but subsequently, declining trading volume and weakening upward momentum led to a price drop back to support near $0.21. The MACD indicator on the 4-hour chart remains positive, but the gap between the red and green bars has narrowed. The RSI has also fallen from the overbought zone of 72 to around 65, indicating weakening buying pressure and a cautious market sentiment.
In the long term, DOGE remains within the broad upward trend established in 2014, reaching a peak near $0.74 in 2021. Despite a correction, it has remained within the lower bound of the channel. Javon Marks' cyclical analysis suggests that DOGE still has the potential to test $2.22, but this remains a distant possibility. In the short term, the main trend remains a volatile range between $0.18 and $0.30.
Furthermore, DOGE's price relative to BTC has remained range-bound, rising 11.6% in July to 0.00000202 BTC, with a significant lower shadow, suggesting key support is forming. Traders are closely watching for a breakout above this long-standing resistance level, making the situation quite exciting! 🤑
ETH: 97% of holders are profitable, and the bull market continues
After discussing altcoins, let's take a look at the mainstream Ethereum (ETH). According to on-chain data, 97% of Ethereum holders are currently profitable, a historically high level!
Although it seems that the market is about to reach its peak, the MVRV (market value to realized value ratio) indicator shows that the market is far from overheated and there is still room for growth.
Glassnode data shows that short-term traders are profiting faster than at any time last year, yet the market hasn't weakened. This suggests that this rally is driven by active buying and selling, rather than a simple bubble or speculation. Crypto analyst Ali Martinez noted that this pattern is positive, indicating that upside potential remains. As long as short-term cashing out is absorbed by market demand, the market can continue to rise.
Surprisingly, while short-term traders are cashing in profits faster than at any time last year, the market hasn't weakened. Glassnode data shows that ETH's daily profit (SMA) reached $771 million in July, a new high since 2024. Even with a recent slight pullback, it remains strong at $553 million.
In addition, the profits of long-term holders also reached the peak in December last year, indicating that not only big investors are making money, but retail investors and short-term investors are also actively participating in this wave of growth.
On-chain activity indicates a continuous shift of funds from long-term holders to short-term traders, creating a continuous cycle of profit taking and buying. This "rotational" rhythm is a healthy reflection of market activity and strong demand, rather than a simple "speculative bubble." If this demand persists, Ethereum's price has significant room to rise. In other words, as long as buying continues, this bull market will continue, and short-term cashing out is actually a sign of market health.
In general, the prologue of ETH’s bull market is far from over and is still worth looking forward to! ✨
Summary: The market is hot and there are many opportunities. Enter with caution and make a steady layout!
Over the past few days, the market has been experiencing multi-layered and multi-dimensional activity, from XRP's bullish testing, Ethena's retail investor enthusiasm, Dogecoin's volatile adjustments, and Ethereum's steady rise. This market presents both explosive growth potential and repeated challenges.
XRP is currently battling in key battlegrounds. While whale flows are creating short-term selling pressure, buying remains resilient. Whether short-term bulls can maintain their advantage will determine whether the price can break through $3.80.
ENA relies on strong network effects and the power of retail investors, and is expected to move towards $1, but large investors are still cautious.
DOGE is still in a long period of volatility accumulation. The dream of $1 requires more support from the market trend. The short-term pressure level is firm at $0.30.
ETH's frequent short-term profit-taking has released market vitality. It seems that everyone is profitable, but the upward momentum has not weakened, the market has not yet overheated, and there is still room for growth.
In this volatile market, effective risk management and a well-diversified investment strategy are crucial. Seize the right opportunity to enter the market while the market is hot, but don't forget to be prepared for volatility. After all, the cryptocurrency world is a constant battle between passion and rationality! 🔥📊
Many people understand the trend, but not many people follow the right rhythm.
The cryptocurrency world is changing rapidly, with both opportunities and risks. Learning to strategically enter and exit the market and protect your principal is the key to steady progress, wealth, and growth. ✍️
Remember to DYOR and do a good job of risk management. I wish you all a smooth sailing in the cryptocurrency world! 🌊
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