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  • NEAR surges 24% as bulls break key resistance

    NEAR surges 24% as bulls break key resistance

    Bitcoin Soared Amid Wall Street Gains

    • NEAR price rose more than 20% to highs of $2.34.
    • The uptick comes amid gains for several altcoins despite ongoing crypto market weakness.
    • Bulls reclaiming the $2 mark could allow them to target $4.6 for a fresh 100% rally.

    NEAR Protocol’s native token has skyrocketed 24% in the past 24 hours, shattering a persistent resistance barrier and reigniting investor enthusiasm amid broader cryptocurrency volatility.

    NEAR currently trades at $2.27, slightly off the intraday high of $2.34 that marked its highest level since mid-October.

    Gains signal a potential shift in sentiment as multiple tokens eye bounce, including Tezos (XTZ).

    NEAR price today

    NEAR’s bullish performance has seen the token climb from lows of $1.83 to fresh highs of $2.34 in the past three days.

    Although the price is slightly off the intraday peak, market data shows aggressive buying.

    Per CoinMarketCap data, the token’s daily trading volume increased by over 300% to $753 million.

    It’s a significant show of conviction from bulls and the main metric behind the NEAR price breakout.

    Ostensibly, the move saw bulls decisively clear the $2.00 psychological resistance, allowing them to target fresh momentum.

    This outlook could gain additional tailwinds from parallel developments in the privacy sector.

    In particular, this is a market where Zcash (ZEC) has exploded nearly 700% in the past month, drawing renewed attention to shielded transactions and anonymous DeFi.

    Zcash’s resurgence is closely tied to NEAR’s innovative Intents protocol, a cross-chain coordination layer that simplifies complex swaps while preserving user privacy.

    Zcash’s official Zashi wallet has deepened its integration with NEAR Intents, enabling seamless on-ramps and off-ramps for shielded ZEC conversions from assets like BTC, SOL, and USDC.

    For NEAR, the linkage amplifies its appeal as the “blockchain for AI,” where Intents not only streamlines interoperability but also embeds privacy-by-design features.

    As Zcash’s shielded pool nears 30% of its supply, NEAR benefits from the spillover, with ecosystem projects like OceanPal committing $120 million to treasury-backed intents.

    Is NEAR price poised for a 100% bounce?

    The technical outlook for NEAR paints a decidedly bullish picture, with key indicators aligning for a possible 100% bounce from current levels toward $4.60.

    The Relative Strength Index (RSI) on the daily chart has surged to 51, hitting neutral territory after dipping into oversold readings of 28 on Nov. 4.

    Meanwhile, the Moving Average Convergence Divergence (MACD) histogram has flipped positive, with the line crossing above the signal.

    This suggests a potential bullish divergence, similar to what preceded NEAR’s June-July rally from $1.97 to $3.12.

    Trading volume, already elevated, shows sustained spikes, averaging the breakout above $2.00 as genuine rather than a fleeting pump.

    A sustained hold above $2.30 could trigger a breakout.

    NEAR Chart
    NEAR price chart by TradingView

    However, downside risks remain as the price hovers near $2.00.

    If the confluence of current support fails, bears could push the token’s value well below the psychological mark.

    Nonetheless, as Zcash’s boom reflects demand for secure, intent-based DeFi, NEAR stands to benefit from traction.

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  • Horizen (ZEN) gains 12% to break above $7

    Horizen (ZEN) gains 12% to break above $7

    • Horizen price is up 12% in 24 hours as bulls break above $7 again.
    • ZEN’s price surge today reflects its strategic advancements and growing relevance in privacy-focused DeFi.
    • While the outlook is cautiously optimistic, investors should remain vigilant of market volatility and regulatory developments.

    Horizen (ZEN) has seen a notable price increase today, with double-digit gains allowing buyers to bounce to a key level.

    Attention from investors continues to drive a bullish outlook amid a surge that comes as privacy-focused decentralized finance solutions gain traction.

    Why is Horizen’s price up today?

    Horizen’s ZEN token traded near $7.08 at the time of writing, up about 12% over the past 24 hours amid gains for Zcash and other altcoins.

    Gains mirror the broader crypto market uptick on Monday after Bitcoin bounced off lows below $110k seen last week.

    As risk assets ticked higher, BTC’s move to above $112k allowed coins such as Horizen to rebound. ZEN mirrored gains for Zcash price.

    For ZEN, privacy coins’ resurgence and network developments are key catalysts.

    The recent launch of ZENDEX, a privacy-first decentralized exchange (DEX) built on Horizen’s blockchain, has bolstered investor confidence, contributing to the latest price increase.

    ZENDEX which introduces new use cases for Horizen’s privacy technology, has positioned Horizen as a competitive player in the DeFi space.

    Positive community sentiment following Horizen’s migration to Base also persists, with ZEC’s rally likely to mark a similar trajectory for ZEN.

    What next for Horizen’s price?

    Analysts are optimistic about ZEN’s potential, driven by its unique protocol architecture.

    By enabling privacy and blockchain interoperability access to users, the platform has attracted notable interest.

    Network metrics such as active addresses and user count have swelled as has price amid hype around Horizen 2.0.

    ZENDEX gives Horizen an industry-leading advantage in the blockchain space.

    “ZENDEX will leverage Horizen (ZEN) technology to deliver performance and privacy levels that position it as a top DEX tech product available today,” the platform posted on X.

    Key aspects include Cross-Chain Transfer Protocol for private and trustless asset transfers and zero-knowledge-secured bridges to Ethereum and Polygon for deep liquidity access.

    High throughput with sub-second finality puts ZENDEX at DeFi’s forefront, boosting Horizen and ZEN.

    While broader market dynamics and regulatory scrutiny in the privacy coin sector remain a challenge, the prevailing outlook for ZEN is bullish.

    Technical indicators, such as the MACD show a positive momentum amid a potential bullish crossover.

    The daily RSI is also upslopping as it recovers from the oversold territory to suggest directional bias for bulls.

    With Thrive Horizen-funded projects on the roll, adoption may aid ZEN price.

     

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  • ZRO price gains 14% to break above key hurdle, defy broader dump

    ZRO price gains 14% to break above key hurdle, defy broader dump

    ZRO Token

    • ZRO price pops 14% as LayerZero sees a 66% spike in trading volume.
    • The LayerZero Foundation has recently repurchased 50 million ZRO tokens, equivalent to 5% of the total supply.
    • Bulls could target a breakout to $3.25 and then highs above $5 if sentiment holds.

    The LayerZero (ZRO) token is among the altcoins to defy the broader crypto dump today, with ZRO price up 14% in the past 24 hours.

    Gains for LayerZero come as Bitcoin drops below $110,000 and Ethereum under $4,000.

    But like some altcoins across the market, ZRO is seeing an uptick and has broken above the critical resistance zone near $2.20.

    LayerZero price jumps 14% — why is ZRO up today?

    While most altcoins hit downside action, ZRO is surging amid two notable network milestones.

    Potentially, one is the announcement by the LayerZero Foundation of a major token buyback program.

    The move triggered an immediate surge in ZRO’s price, with the altcoin climbing from lows of $1.83 to reach highs of $2.24.

    A dip to retest the support area at $2.00 has nonetheless seen bulls break the key hurdle at $2.25 to hit highs of $2.33.

    ZRO’s uptick aligned with the 50 million token buyback, with about $150 million ploughed back into the market for the tokens.

    Traders reacted positively after the 25 million ZRO token unlock event earlier, with the buyback and market reaction helping to offset sell-off pressure.

    Crucially, the repurchase has tightened supply and could provide more fuel for bulls.

    LayerZero’s recent acquisition of the Stargate cross-chain bridge is another catalyst for ZRO price.

    The Stargate integration, approved by the DAO with 94.7% support, came at a crucial time for LayerZero.

    Plasma, the platform for global money movement, has unveiled its mainnet.

    LayerZero is a key player in the ecosystem, able to bridge liquidity to Plasma via Stargate.

    ZRO price has jumped amid these integrations.

    What’s next for the ZRO price?

    As the LayerZero price rose, trading volume spiked 66% to $173 million in the past 24 hours.

    This suggests bulls are buying at current levels, and ZRO’s market value could benefit further.

    ZRO price chart by TradingView

    The ZRO price outlook also shows bulls are looking to ride a technical breakout.

    On the daily chart, the price has broken above a descending triangle pattern’s resistance line.

    Notably, technical indicators such as the daily RSI and MACD are flashing bullish signals for ZRO.

    Successful retest and breakout from the trendline of a prolonged consolidation phase level will allow buyers to target $3.25 and higher.

    Bulls are currently 53% up on the all-time low of $1.50 reached in March.

    Meanwhile, the all-time high that counts as a short-term target sits about 70% off current prices at $7.53.

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  • BCH looks to break key resistance as Bitcoin Cash volume jumps 30%

    BCH looks to break key resistance as Bitcoin Cash volume jumps 30%

    Bitcoin Cash Price

    • Bitcoin Cash price is near $590 having touched highs above $604 in the past 24 hours.
    • While BCH is a mere 1% in 24 hours at the time of writing, it’s 18% higher in 30 days.
    • Bitcoin Cash could break above critical resistance and eye the $1,000 level.

    Bitcoin Cash (BCH) is not one of the flashy performers in the crypto market, with the coins’ 18% uptick in the past month small compared to peers in the top 100 cryptocurrencies by market cap.

    However, as Ethereum makes headlines as it approaches its all-time high, Bitcoin Cash is also hovering around a critical resistance level having tested the $600 level.

    This charge, fueled by a remarkable 30% surge in daily trading volume, could see BCH eye further gains towards the $1,000 mark. But what’s the technical outlook?

    Bitcoin Cash retests key price level

    The price of Bitcoin Cash is currently retesting a pivotal resistance zone, with its price hovering around the $600 mark.

    Over the past 24 hours, BCH has touched highs of $601 across major exchanges, and shows resilience with prices remaining above $590 and ticking to highs near the July peak of $604.

    BCH price chart by TradingView

    The jump to $600 represents a notable move for BCH, as this allows buyers to test the upper boundary of a sell wall that has previously seen bears emerge strongly.

    Notably, the 30% spike in trading volume speaks to the increased market activity, suggesting traders may be positioning for a potential breakout.

    What’s next for BCH price: Can bulls reclaim $1,000 in 2025?

    BCH price reached highs of $624 in December 2024 and last traded above $1,000 in 2021.

    Looking at the technical picture for Bitcoin Cash, the overall outlook is optimistic, with bulls setting their sights on flipping $600 into a robust support level.

    From here, a potential climb towards $1,000 is possible. In the short term, the supply wall is around $680 and $764 and above this, a flip to $1k and over will be more likely.

    The broader market sentiment, with Fear & Greed Index trending in the “Greed,” zone, adds to this outlook.

    BCH’s technical indicators also align with a bullish trend. Increased adoption that has investors buoyed amid favorable macroeconomic conditions, gives this altcoin a good chance of continuing higher.

    However, traders may yet trade cautiously as profit taking a dump for major altcoins could dampen broader sentiment.

    The upcoming inflation data, with Bitcoin’s correlation with stocks tight, could mean either a sharp surge or notable dump.

    “BTC ’s correlation with equities has tightened since mid-July, mirroring US stocks’ rebound to near record highs. Attention now shifts to Tuesday’s CPI, expected to rise 10 bps to 2.8%,” analysts at QCP noted. “A softer CPI could cement odds of a September Fed cut, while a hotter print risks stalling the rally. Traders are hedging with demand for short-dated $BTC puts in the $115k–$118k range.”

    The price of Bitcoin hovers around $118,500, while BCH trades near $590.

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  • Pro says ‘longer term momentum is starting to break in Bitcoin’

    Pro says ‘longer term momentum is starting to break in Bitcoin’

    long term momentum breaking bitcoin wolfe research
    • Wolfe Research analyst is concerned on recent price action in Bitcoin.
    • Rob Ginsberg explained why in a research note on Thursday.
    • The world’s largest cryptocurrency printed a Death Cross this week.

    Bitcoin slipped below the key $25,000 support this week which a Wolfe Research analyst finds concerning.

    Why is Rob Ginsberg worried about Bitcoin

    The world’s largest cryptocurrency tested that level in June as well but ended up rebounding strongly from there.

    But the fact that it broke below that strong support this time even if it did so only briefly is worrying because of what it says about the price momentum, as per Rob Ginsberg.

    Longer term momentum is starting to break in bitcoin. This is often one of our more reliable warning signs … crypto landscape is growing every more concerning.

    Ginsberg is currently bearish on the crypto market at large since Bitcoin is not the only one that challenged crucial levels in recent days.

    Bitcoin recently made a Death Cross

    Note that Bitcoin has also recently printed a “Death Cross” – its 20-day MA crossed below the 200-day MA that is broadly read as a sign of shifting sentiment and a possible downward trend in technical analysis.

    If the $25,000 level does not hold, the next support in Bitcoin is at $20,000.

    The Wolfe Research analyst also finds it concerning for the crypto space that its second-in-command – Ether is also currently trading at the key $1,600 level. His research note on Thursday reads:

    As the retail investor comes under pressure and liquidity is drained, our concerns will only grow for crypto prices.

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  • Bitcoin’s break to $25k was fueled by massive liquidations

    Bitcoin’s break to $25k was fueled by massive liquidations

    • Bitcoin price broke above $22,500 to new highs above $25,000 amid the hunt for short stops and liquidations.
    • The move to $25k resulted from short liquidations of over $155 million.
    • While price could retreat to $24k, Bitfinex analysts say recent price movements could be indicative of a bottom.

    Bitcoin price rose above $25k briefly before slipping back under the key psychological and technical area. 

    According to analysts at crypto exchange Bitfinex, the retreat to this week’s lows comes after a 10% upswing and a green weekly candle. However, the benchmark crypto did not hit a crucial daily candle close at that zone.

    Even then, it is likely the price movement is another major step towards “the latter stages of a gruesome bear market,” the analysts noted in a report.

    BTC spike to $25k fueled by massive liquidations

    Bitfinex analysts also suggest that Bitcoin’s breakout from the $22,500 price level to highs above $25,000 was fueled by the massive liquidations recorded over the past few days.

    Commenting on BTC price outlook and what could lie awake in coming weeks, they said in a statement shared with CoinJournal.

    “Over the past two weeks, the BTC price has been hunting both over-leveraged long positions, as well as liquidating over-eager shorts of over $155 million. It reached an eight-month high of $25,000 in the process. Another sharp but short-lived pullback caught out some short-term bullish speculators off-guard who were betting on a push to the upper $25,000-$26,000s on Thursday, February 16th, as evidenced by a spike in long position liquidations on that day. Profit-taking in the wake of the recent rally and a stop-run on those who had gotten overly aggressive chasing the upside might well send Bitcoin back below $24,000 in the week ahead.”

    On what happens next, the analysts say price action as has played out recently has historically, resulted in ranged price movement. This is due to the action that has seen both longs and shorts have been simultaneously wiped off.

    “The most probable move going forward is to scale out of positions partially and wait for the range to form without a strong directional bias,” they explained.

    In a tweeted prediction for Bitcoin price, YouTuber and crypto analyst Sheldon The Sniper says Bitcoin could go to $28k or revisit support at $21k. He shared the outlook above as BTC price continued to hover around $25,683 at 2:15 pm ET on Tuesday.

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  • Bitcoin price outlook after BTC break above $23k

    Bitcoin price outlook after BTC break above $23k

    • Bitcoin’s rally from December lows after the FTX collapse surprised many investors, Glassnode says in its weekly report.
    • Bitcoin could see further upside but a fresh buy signal is likely at prices around $28.3k.
    • Selling pressure above $23.3k is more likely given short-term holders and miner push for exit liquidity.

    Bitcoin price remains poised near $23,000 after a breakout pushed the leading cryptocurrency’s value above the psychological $20k level.

    As highlighted ove the weekend, Bitcoin’s surge to prices above $23,000 did surprise many people, and while optimism is high among bulls, a potential liquidity exit from profit booking is likely. Particularly, this could be the outlook given how brutal the 2022 bear market was for short term holders and miners.

    On-chain data platform Glassnode has highlighted this possibility.

    Glassnode’s outlook after latest BTC price action

    According to on-chain data firm Glassnode, Bitcoin looks “almost out of the woods,” but the price action to levels in the $21k to $23k region also reclaimed several on-chain pricing models.

    A look at the Investor Price (currently at $17.4k) and Delta Price ($11.4k), signifies a similar price action at the bear market bottom of 2018-2019. Investor Price is the average price at which investors acquired all the spent and miner distributed coins, while Delta Price is derived from Realized Cap minus Bitcoin’s all-time Average Cap to get a technical pricing model.

    At the base of this outlook is the price discovery phase, which during that 2018 bear market bottom lasted 78 days. The current market is at a similar level, with BTC above the Realized Price of $19.7k.

    “This suggests an equivalency in durational pain across the darkest phase of both bear markets,” Glassnode wrote in its weekly market report.

    Still on the Investor Price/Delta Price metrics, the on-chain platform points to a measure called compression, which takes into account the spot price to determine the intensity of the market’s undervaluation.  The metric also correlates with the scale of change in an asset’s Realized Cap or capital inflow volume, with a threshold zone of 0.15-0.2.

    Given the current BTC price and compression value, Glassnode estimates a bullish confirmation signal could be triggered if Bitcoin bulls reclaim $28.3k.

    More optimism for bulls

    Also helping the bull case is the Supply in Profit measure, which spiked 12% in the last two weeks to rise from 55% to 67%. The spike in percent of coins in profit is “the sharpest” of all prior bear markets, suggesting a lot more coins changed hands below the $23.3k level.

    Key to bulls’ case is also the fact that Bitcoin price at current levels is above all the three cost basis of long-term holder, short-term holder and BTC Realized Price. This is the first time spot price has pierced the three Realized Prices and sustained momentum above the levels would be positive.

    A bull trap case

    While Glassnode points to potential bull case scenarios, its report also highlights probable cases of fresh sell-off pressure.

    According to the on-chain data report, one of these is the “substantial spike in profitability,” which the platform says raises the possibility of selling pressure triggered by short-term holders. 

    Miners are also likely to be motivated by the price action and might look to liquidate some of their holdings, adding to a potential retreat for BTC price.

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