Zcash climbed through $1,000 while Bitcoin briefly traded above $82,000 after a softer signal from Federal Reserve Governor Christopher Waller drew buyers back to risk assets. The move lifted the wider crypto market to its highest valuation in more than seven months, although strong US employment data later cooled the rally.
By John Isige Solana's difficult stretch is dragging on, yet a glimmer of hope is emerging on the horizon. A new protocol update could be the catalyst needed to restore the network — and the price — to former strength.
By John Isige Against a backdrop of escalating geopolitical tensions in the Middle East and mixed signals from major central banks regarding their next monetary policy moves, the XRP/USD pair has remained locked in a narrow sideways range of 1.3671–1.5136 (Murray levels [4/8]–[7/8]) for the fifth consecutive week. The key level for bulls remains 1.5625 (Murray level [8/8]), as it coincides with the Bollinger Bands middle line on the weekly chart: a confirmed close above it would allow the pair to break decisively out of its descending channel and reverse the current trend, opening the way toward targets at 1.9980 (Fibonacci retracement 50.0%) and 2.3519 (Fibonacci retracement 38.2%). Conversely, a breakdown below 1.3671 (Murray level [4/8], lower Bollinger Band) would give sellers the opportunity to push toward 1.2695 (Murray level [2/8]), 1.1718 (Murray level [–1/8]), and 1.0742 (Murray level [–2/8]).
By John Isige This week, SOL/USD reached a four-month high of 98.30, but yesterday the pair lost a significant part of its gains after the release of US macroeconomic statistics. In April, the Consumer Price Index rose from 3.3% to a three-year high of 3.8% year-on-year instead of the expected 3.7%, while the core indicator increased from 2.6% to 2.8% against forecasts of 2.7%. As a result, the probability of a US Federal Reserve interest rate cut this year fell almost to zero, putting pressure on major cryptocurrency assets.
By John Isige Since mid-last month, the ETH/USD pair has been holding within a narrow sideways range of 2437.50–2250.00 (Murray levels [7/8]–[4/8]): as before, mixed geopolitical and monetary signals are preventing the instrument from committing to a directional move. The key level for bulls remains 2500.00 (Murray level [8/8], Bollinger Bands middle line, W1), a breakout above which would act as a catalyst for reversing the long-term downtrend and accelerating the move toward targets at 2770.00 (Fibonacci retracement 61.8%), 3165.00 (Fibonacci retracement 50.0%), and 3400.00 (the area of January highs). At the same time, if the price consolidates below 2250.00 (Murray level [6/8], lower Bollinger Band), sellers may seize the initiative and push toward 2000.00 (Murray level [0/8]), 1875.00 (Murray level [–2/8]), and 1481.60 (Fibonacci retracement 100%).
By John Isige Cardano is back in focus as the network moves closer to an important upgrade. The planned van Rossem hard fork has already been submitted to the Preview testnet, marking a key step before a potential mainnet rollout.
By John Isige Analyst Ben Cowen believes that the crypto market still needs to get rid of many weak and speculative tokens before a sustainable Bitcoin bull market can begin.
By John Isige Since the start of the month, XRP/USD has been building positive momentum and is currently trading at 1.4300, supported by geopolitical and regulatory tailwinds.
By Sagar Dua For more than three weeks, ETH/USD has been holding within a broad sideways range of 2437.50–2250.00 (Murray levels [7/8]–[4/8]) and is once again approaching its upper boundary. As before, the key level for bulls remains 2500.00 (Murray [4/8], Bollinger Bands midline, W1) — a breakout above this mark would act as a catalyst for a reversal of the long-term downtrend and open the way toward 2812.50 (Murray [6/8], Fibonacci 61.8% retracement), 3125.00 (Murray [+1/8], Fibonacci 50.0% retracement), and 3400.00 (the area of January highs). Conversely, a consolidation below 2250.00 (Murray [6/8], lower Bollinger Band) would allow sellers to take control and push the pair toward 2000.00 (Murray [0/8]), 1875.00 (Murray [–2/8]), and 1481.60 (Fibonacci 100% retracement).
By John Isige The SOL/USD pair remains within the medium-term sideways range of 91.00–75.00: in the middle of the month, the price approached its upper boundary, after which it moved into a downward correction and is now trading around 81.25, the Murray level [2/8], supported by the lower line of the Bollinger Bands. A breakdown of this area will become a catalyst for strengthening the bearish impulse toward the targets of 75.00, the Murray level [0/8], 68.75, the Murray level [–2/8], and 62.50, the Murray level [2/8], W1. The key level for buyers remains 91.00, and consolidation above it would allow them to reach 100.00, the Murray level [8/8], 107.40, the 61.8% Fibonacci correction, and 125.00, the Murray level [4/8], W1.
By John Isige This week, the ETH/USD pair has pulled back and is currently trading near 2320.00 (Bollinger Bands middle line), while continuing to form a short-term sideways range of 2400.00–2250.00 — a range it has held for the tenth consecutive session as uncertainty driven by geopolitical and monetary factors persists in the market.
By Sagar Dua This week, the XRP/USD pair corrected downward and is now trading within the medium-term sideways range of 1.5625–1.2695 (Murray level [8/8]–[2/8]) near 1.3900.
By John Isige The ADA forecast highlights key support and resistance levels as well as possible price targets.
