Bitcoin’s halving is just around the corner, and the virtual currency market is in a volatile state. Cryptocurrencies like Dogecoin (DOGE) and Toncoin (TON) are trending as most investors are on the brink, unsure whether to sell for cash before the event or seek further exposure. It may be wise to follow the behavior of whales that are paying close attention to. , Ethereum (ETH) and PENDLE.
1. Dogecoin (DOGE)
DOGE is trading in a narrow range around $0.20, which is a major psychological barrier that it crossed three weeks ago. On the final day, the price fell below $0.2, indicating a possible decline. Still, the outlook remains positive for many market players, reflecting widespread optimism about cryptocurrencies.
Dogecoin’s recent price movement has fluctuated between $0.21 and $0.16, indicating an increase of 2%. Its value rose 7% last month, a remarkable performance despite mixed bullish and bearish market signals and strong momentum elusive.
data from coin glass It was revealed that DOGE’s derivative trading volume decreased by 5.04% to $3.97 billion. Additionally, open interest decreased by 1.44% and now stands at $1.66 billion. This indicates that market interest is decreasing. dogethe OI-weighted funding rate fell to 0.0347%, highlighting the growing bearish sentiment in the market.
When bearish pressure increases, dogecoin A break below $0.18 is possible and the $0.15 support level is likely to be reached, indicating a bearish shift in the market trend. Conversely, a bullish recovery could push the price back towards $0.2 and potentially towards the $1 landmark. Achieving such a milestone will depend on whether Dogecoin can overcome significant resistance levels and maintain its momentum.
2.Toncoin (TON)
On Tuesday, Toncoin soared to an all-time high of $7.08, making it one of the best-performing cryptocurrencies on the market. However, after this peak, the price saw a slight correction as it returned to $6.71. Despite this temporary decline, Toncoin’s overall momentum remains bullish.
TonCoin’s market capitalization has skyrocketed to $23.38 billion, and it now ranks among the top 10 cryptocurrencies. Trading volume soared 263% in one day, reaching $880 million, reflecting growing interest and optimism in Toncoin’s potential.
Toncoin has shown a promising uptrend, indicating the possibility of entering a bullish phase. If this trend continues, a breakout of the $7 resistance level seems imminent. If it continues to rise, there is a good chance its value will approach or exceed the $10 mark, with hopes of reaching $20 in the near future.
3. Ethereum (ETH)
Ethereum is trading above the $3,600 support after falling from its recent high of $3,729 following Monday’s bullish move.
The bearish outlook from the Relative Strength Index (RSI) indicates that ETH could regain the gains it has made and possibly retest the $3,500 support. Note that the 20-day Exponential Moving Average (EMA) is consolidating this support area in the 4-hour range.
The further the RSI falls into neutral territory, the stronger the sellers become, increasing the likelihood of further declines. A more conservative investor may want to wait until the Ethereum price rebounds from $3,600, or the gray band that includes both the 50-day EMA and the 200-day EMA, before going all in on ETH and breaking $4,000. There is a possibility of going out.
The only significant barrier is between $3,666 and $4,811, which, if broken, would mean Ethereum price is on track to reach new all-time highs.
4.PENDLE
Pendle has emerged as a pioneer in the cryptocurrency space with its groundbreaking restaking protocol. It stands out for its novel feature of tokenizing and decoupling yield from ownership of the underlying asset.
This cutting-edge feature allows users to hone their yield management skills and facilitate trading of future yields in the secondary market.
Unlike others, Pendle improves DeFi yield management by significantly increasing liquidity and adaptability, transforming the way investors manage their portfolios.
One PENDLE token is worth $6.31 at prevailing exchange rates. Its value has fallen by almost 3% in the past 24 hours. coin market cap The data shows.
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