Author: The Daily Hodl
A cryptocurrency analyst and trader is turning bullish on Tron (TRX) amid the native token of the layer-1 blockchain going up by over 20% in the past month. In a new video, the analyst pseudonymously known as Sherpa tells his 11,300 YouTube subscribers that over the past couple of years, the price of Tron has performed relatively better compared to other altcoins. “TRX has been one of the strongest coins the last entire stretch. If you look at it, the fact that TRX is actually near all-time highs [recorded] back in March of 2021 is actually incredible. The number of…
Cryptocurrency analyst and trader Ali Martinez is leaning cautiously bullish on an Ethereum-based altcoin. Martinez tells his 70,300 followers on the social media platform X that the native token of the Ethereum (ETH) scaling solution Polygon (POL) is forming a descending triangle pattern, on the weekly chart. A descending triangle pattern is typically considered a bearish signal. According to Martinez, POL could appreciate by 155% from the current level if the support area at around the $0.34 price holds up. POL is trading at $0.369 at time of writing. If Polygon’s $0.34 support level fails, Martinez says, “However, if it…
Real Vision analyst Jamie Coutts believes that Bitcoin (BTC) could finish the year much higher as the crypto king chops around. In a new video update, Coutts says that market liquidity is starting to increase, setting up Bitcoin to rally in the final four months of the year when the flagship cryptocurrency generally performs well. “I think people in crypto get very focused on the short term. The things that drive crypto long-term are things like liquidity, and that certainly has improved… Zooming out, I think the conditions are there for a pretty strong Q4. September is always pretty shitty…
A veteran trader who accurately predicted the May 2021 crypto collapse believes that Bitcoin (BTC) is on the verge of a massive breakout. Pseudonymous trader Dave the Wave shares a chart with his 146,400 followers on the social media platform X that shows Bitcoin may be forming a similar pattern from the last cycle right before an explosive rally. Looking at his monthly chart, the trader suggests that Bitcoin will test a long-term diagonal support that could act as a launch pad for upward price action similar to what occurred in late 2020. The analyst also shares a chart using…
Top US-based crypto exchange Coinbase is adding support for the Polygon’s (MATIC) highly anticipated rebrand to the Polygon Ecosystem Token (POL). In a new announcement, Coinbase Assets says it’s adding POL to its suite of products with an experimental label, meaning it could display high price volatility or relatively low trading volume. Last month, Coinbase announced that it added the token to its listing roadmap, which was created in 2022 for transparency and to stifle the front-running of digital assets. MATIC’s rebranding to POL was first proposed last July as a way to boost the network’s usage and growth. About…
A widely followed crypto analyst is predicting that Bitcoin (BTC) could fall further before mounting a comeback. Crypto trader Michaël van de Poppe tells his 723,600 followers on the social media platform X that BTC could drop to $54,000 before hitting the reversal. “The lower timeframe picture on Bitcoin is highly boring. Took the liquidity above $58,200 and dropped back. Most likely, we’ll take the liquidity lower at $54,000 and then reverse back up, but it’s event week. Crucial levels: $56,000 / $58,200. Either will provide direction.” According to Van de Poppe, there are “important” macro-factors that will likely send…
Payments processing giant Mastercard is teaming up with a European counterpart to support non-custodial crypto wallets. In a new announcement, European payments firm Mercuryo says it’s teaming up with Mastercard to launch Spend, a crypto debit card that makes it convenient for customers to spend or cash out their digital assets. “In the context of Web3 users, one of the main hurdles they encounter is the typical issue of cashing out their crypto and doing it easily. Individuals holding crypto who want a convenient way to use their assets for everyday purchases can now benefit from Mercuryo’s Spend crypto debit…
The host of the Coin Bureau channel Guy Turner believes one factor could spark massive rallies for both Bitcoin (BTC) and Ethereum (ETH). Turner tells the 2.51 million subscribers of the Coin Bureau YouTube channel that increased institutional adoption of spot BTC and ETH exchanged traded funds (ETFs) could send the top two digital assets by market cap to new all-time highs (ATHs). “As more investors begin to accept and adopt the existing ETFs, BTC and ETH could be pushed to new all-time highs. It’s great to see that institutional investors seem to be happy with hodling through volatility because…
A widely followed cryptocurrency analyst and trader is offering his take on a real-world asset (RWA) project that’s skyrocketed by over 40x since December of 2023. The trader pseudonymously known as Sherpa tells his 222,500 followers on the social media platform X that the RWA blockchain MANTRA (OM) is a “strong project.” “OM still is in the same trading range and has held up way better than most other altcoins. I’m still in this one as a RWA bet for this cycle and I think that we’ll still see some more chop for a bit before the next leg up.”…
Analyst Benjamin Cowen is issuing a warning on Ethereum (ETH) as the second-largest crypto asset lingers around 40% below the 2024 high recorded in March. Cowen tells his 811,000 YouTube subscribers in a new video that Ethereum could depreciate by at least 5% against Bitcoin (BTC) going forward. “When I look at this chart what do I see? I see that Ethereum/Bitcoin is likely going to form a bottom between now and the end of the year. It’s possible that it’s already in, but I would still say I’m still sort of leaning that it could go sub 0.04 BTC.”…