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Yahoo
20-05-2025
- Business
- Yahoo
Telegram-Associated Toncoin (TON) Plunges 8% as Critical $3.00 Support Crumbles
Global economic tensions and shifting trade policies continue to create volatility across cryptocurrency markets, with TON experiencing significant downward pressure. The token's recent price action has formed a descending channel with consecutive lower highs and lows, breaking below key support levels on high trading volume. Meanwhile, competing blockchain projects are gaining attention as investors seek alternatives amid market uncertainty, with some analysts projecting potential recovery for TON if it can establish support at current levels. Technical Analysis Highlights TON formed a descending channel with consecutive lower highs and lower lows over the past 24 hours. Price broke below the critical $3.00 psychological support level during hours 9-12 on high volume (3.96M), indicating strong selling pressure. A notable volume spike (4.43M) during the final trading hour suggests potential capitulation. The modest bounce from the absolute low of $2.89 to close at $2.94 may indicate emerging support. The $2.88-$2.90 zone now represents a crucial area to monitor for potential trend reversal. A V-shaped reversal pattern formed in the last hour with strong momentum, breaking through the $2.90 psychological level on increasing volume. A significant bullish impulse occurred between 13:36-13:38, pushing price up by 3.6% to establish new local highs near $2.94. Despite profit-taking near the $2.95 resistance level around 13:48-13:49, TON has maintained support above $2.93. External References "$15M Gone? Telegram Crypto Project's Co-Founder Arrested For Alleged Fraud". Bitcoinist, published May 19, 2025.
Business Mayor
18-05-2025
- Business
- Business Mayor
$40 Billion Worth Of XRP On The Move – Where Are They Headed?
Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Onchain data shows that over $40 billion worth of XRP has been moved over the last week, which puts the altcoin on the edge. Specifically, these coins were transferred to exchanges, which indicates that XRP is at risk of a massive sell-off. Over $40 Billion XRP Moved To Exchanges CryptoQuant data shows that over $40 billion has been moved to Binance this past week, with the exchange's reserves surging during this period. This development is usually bearish as it indicates that investors are looking to offload their coins. This comes as the XRP price surged to as high as $2.6, which explains this wave of profit-taking. Related Reading Moreover, crypto analyst Ali Martinez revealed that Bitcoin whales have secured profits, selling over 30,000 BTC this week. As such, XRP whales may be simply mirroring this move. Meanwhile, Bitcoinist reported that XRP is reaching oversold levels as net flows turn negative, with the wave of sell-offs heightening. This selling pressure comes amid Judge Analisa Torres' ruling in the Ripple SEC lawsuit , which provides a setback for XRP. The judge denied the parties' motion for an indicative ruling because the filing was procedurally improper. The ruling also sparked a massive sell-off, with XRP dropping over 4%. XRP risks losing its bullish setup as Martinez revealed that the key support zone is at $2.38, meaning that a drop below this level could lead to a deeper correction. However, a hold above this level could set the altcoin for a rally to new highs as the analyst revealed that there are no major resistance clusters ahead. Crypto analyst CasiTrades had warned that XRP's failure to hold above the $2.69 resistance could send its price towards $2.30 for a reset. Altcoin Has Formed A Double Bottom Formation In an X post, crypto analyst Egrag Crypto revealed that XRP has formed a double bottom following the dip to $2.3126. He stated that the altcoin is still bouncing off the red descending trend line, showing resilience. The analyst added that the altcoin is experiencing some micro noise within the range between the Fibonacci 0.888 levels at $2.30 and $2.62. Related Reading His accompanying chart showed that the key is for the XRP price to hold above the trendline at $2.3. A bounce from this level could send the altcoin as high as $3.8, near its current all-time high (ATH) of $3.84. Based on its historical performance, Egrag Crypto still expects the altcoin's price to rally to between $27 and $33 in this market cycle. Source: Egrag Crypto on X At the time of writing, the XRP price is trading at around $2.37, down almost 2% in the last 24 hours, according to data from CoinMarketCap. XRP trading at $0.21 on the 1D chart | Source: XRPUSDT on Featured image from Getty Images, chart from
Yahoo
02-05-2025
- Business
- Yahoo
ATOM Surges More Than 4% With Broader Market as Cosmos Ecosystem Attracts Institutions
The Cosmos ecosystem is gaining significant institutional attention amid broader market volatility, with ATOM showing remarkable resilience after recovering from a drop to $4.23 on April 30th to stabilize above $4.38. The price of ATOM rose more than 4% in the last 24 hours, while the broader market gauge CoinDesk 20 Index climbed nearly the same amount. This recovery comes as Canary Capital files for the first spot Sei ETF built on Cosmos SDK, featuring staking capabilities that could set a precedent for similar products across the ecosystem. Meanwhile, Figure's Provenance blockchain, also built with Cosmos SDK, has emerged as the leader in tokenized private credit with $9.9 billion in active loans, validating BlackRock CEO Larry Fink's vision that "every asset can be tokenized." ATOM-USD has demonstrated remarkable resilience over the analyzed period, recovering from a significant drop to $4.23 on April 30th to stabilize above $4.38 by May 1st. The overall range of $0.31 (6.9%) reflects moderate volatility, with strong support established at $4.30-$4.32, according to CoinDesk Research's technical analysis data. Recent price action shows a developing uptrend with higher lows forming since April 30th, accompanied by increasing volume during recovery phases. The Fibonacci retracement from the April 29th high suggests the current price has reclaimed the 61.8% level, with resistance at $4.41-$4.42 representing the next significant hurdle before potential continuation toward previous highs. ATOM-USD has shown significant volatility in the last 100 minutes, experiencing a sharp decline from $4.41 to a low of $4.35 before staging a recovery to $4.38. The price action formed a V-shaped pattern, with strong buying emerging at the $4.35-$4.36 support zone. This was accompanied by notably higher trading volumes during both the selloff (peaking at 103,987 units at 14:00) and subsequent recovery. Recent price movement has established a short-term uptrend with higher lows since 13:57, with the current price consolidating near $4.38-$4.39, suggesting stabilization after the earlier volatility and potential for continued upward momentum if the $4.39 resistance level can be breached. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. References: Bitcoinist, "", published April 7, 2025. Bitcoinist, "", published April 7, 2025. Blockworks, "", published April 30, 2025. CryptoNews, "", published April 24, 2025. Sign in to access your portfolio
