Dogecoin Cracks Again: BTC Pair Collapse Signals Imminent Drop To $0.07 TradingView
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Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.
From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.
In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.
Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.
Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.
At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.
In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.
Ethereum climbed back above $2,000 after a softer-than-expected US CPI print, and the move has traders and analysts debating whether the worst is behind the coin or if this is a temporary relief rally.
Reports say futures open interest has fallen sharply over the last 30 days, funding rates have swung into deeply negative territory, and some on-chain metrics point to a clustered support zone below current prices.
Open Interest Drop Raises Questions
According to CryptoQuant, the headline figure showing an 80 million ETH decline in open interest across major venues grabbed attention. That number, if taken at face value, would be huge. It suggests large positions were closed rather than new ones being put on.
But the scale of the change also invites scrutiny; reporting errors or dollar-value comparisons mislabeled as ETH can happen. Still, a sizable pullback in futures exposure on exchanges including Binance, Gate, Bybit and OKX has been logged, and that much appears real.
Funding Rates And The Crowd
Funding rates on some platforms are pushing to levels not seen in roughly three years. When traders pay to hold short positions, it signals strong bearish conviction.
It is reported that such extremes tend to be followed by a sharp reversal as the crowd can become one-sided, and that leads to a quick reversal as the market sentiment changes.
This was seen at the end of 2022, where there was extreme shorting followed by a quick reversal. This does not mean that it will happen this time around as markets can remain one-sided for longer than expected.
Support Zones And Technical Targets
Glassnode’s on-chain data reveals a significant cost-basis area between $1,880 and $1,900, where about 1.3 million ETH was traded.
The $2,000 mark is acting as a psychological anchor and is reinforced by moving average clusters. A breakout from the recent falling wedge pattern points to an initial measured target near $2,150, a ceiling that would be tested before higher resistance near $2,260 and then $2,500.
Those levels are not certainties; broader market tone and Bitcoin’s direction will influence whether they are reached.
Reduced open interest lowers the risk of cascade liquidations for now, which can tame intraday volatility. At the same time, low funding rates show that bearish bets are still active and could be squeezed if momentum turns.
Reports say accumulation wallets increased inflows when prices dipped, hinting at longer-term conviction among some investors.
Featured image from Unsplash, chart from TradingView
]]>Ethereum price started a fresh decline and traded below $2,000. ETH is now consolidating and remain at risk of another decline below $1,950.
- Ethereum struggled to extend gains above $2,020 and corrected lower.
- The price is trading below $2,000 and the 100-hourly Simple Moving Average.
- There is a bearish trend line forming with resistance at $1,980 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could start a fresh decline if it stays below the $2,020 zone.
Ethereum Price Dips Further
Ethereum price failed to stay above $2,050 and started a fresh decline, like Bitcoin. ETH price traded below the $2,020 and $2,000 levels to enter a bearish zone.
The pair dipped below the 50% Fib retracement level of the upward move from the $1,745 swing low to the $2,169 high. Besides, there is a bearish trend line forming with resistance at $1,980 on the hourly chart of ETH/USD. However, the bulls were active near $1,900.
Ethereum price is now trading below $2,000 and the 100-hourly Simple Moving Average. If the bulls remain in action above $1,900, the price could attempt another increase. Immediate resistance is seen near the $1,960 level and the trend line.
The first key resistance is near the $2,000 level. The next major resistance is near the $2,020 level. A clear move above the $2,020 resistance might send the price toward the $2,165 resistance. An upside break above the $2,165 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,250 resistance zone or even $2,280 in the near term.
More Losses In ETH?
If Ethereum fails to clear the $2,000 resistance, it could start a fresh decline. Initial support on the downside is near the $1,920 level. The first major support sits near the $1,900 zone or the 61.8% Fib retracement level of the upward move from the $1,745 swing low to the $2,169 high.
A clear move below the $1,850 support might push the price toward the $1,820 support. Any more losses might send the price toward the $1,750 region. The main support could be $1,720.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now below the 50 zone.
Major Support Level – $1,900
Major Resistance Level – $2,020
Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.
From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.
In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.
Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.
Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.
At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.
In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.
Elon Musk’s X has taken action against projects that reward users for posting with crypto incentives. Product chief Nikita Bier said the platform will no longer allow such apps. He blamed these programs for growing reply spam and low-quality AI content. X Revokes API Access for InfoFi Reward Apps The crackdown directly targets InfoFi models
The post Elon Musk’s X Cracks Down on InfoFi Crypto Projects; KAITO Token Falls 15% appeared first on CoinGape.
]]>XRP is facing a critical turning point as key long-term support gives way for the first time in over 400 days. After consolidating near $2, the recent break below the 200-day moving average signals mounting pressure, putting the cryptocurrency in a high-stakes zone where the next move could define its near-term trajectory.
Price Stalls Below The $2 Wall As Volatility Compresses
In an X post, Umair Crypto noted that XRP has faced heavy resistance near the psychological $2 level, forcing the price into a tight consolidation range between $1.85 and $1.88. Such conditions often precede a sharp move, suggesting XRP may be nearing a decisive breakout or breakdown phase.
On the daily timeframe, XRP still displays signs of resilience despite the overhead pressure. Buyers have so far managed to defend nearby support zones, preventing a clean breakdown in structure. This defensive price action keeps the broader bullish scenario alive, especially if momentum improves and XRP reclaims higher levels with stronger volume confirmation.
However, a wider view from the 3-day chart introduces caution. The current support region aligns closely with the 200-day simple moving average. XRP’s latest close below this moving average marks the first time in more than 400 days, highlighting a notable technical shift that could weigh on sentiment if not quickly reversed.
This development places XRP at a critical inflection point. The chart shows a relatively thin historical structure following the explosive November 2024 rally that lifted the price from $0.50 to $3. With fewer well-defined demand zones beneath, any acceleration in selling pressure could lead to faster downside moves.
Umair Crypto identified interim support levels around $1.45, $1.10, and $0.69 as potential downside targets if a confirmed breakdown unfolds. Attention remains firmly on the coming sessions, particularly as Ripple’s recent $1 billion token unlock introduces additional supply, adding another layer of pressure to an already sensitive market setup.
XRP Former Ceiling Turns Into A Structural Floor
According to a monthly XRP update shared by crypto analyst Chad, the asset is currently holding above a key level that previously acted as resistance and has now flipped into support. This shift suggests that buyers are still defending the structure, keeping the broader setup constructive despite recent price action hesitation.
A clear double-top formation can be spotted on the chart. However, Chad notes that it does not have to fully play out as long as XRP continues to hold above the 0.786 logarithmic Fibonacci level.
Overall, XRP appears to be in a consolidation phase rather than a decisive move. Price action is currently contained within the 0.786 to 0.886 log Fibonacci range, signaling a period of balance as the market awaits a clearer directional catalyst.
]]>XRP remains under the weight of its long-standing downtrend, but recent price action suggests the bears may be losing their grip. Upward moves are becoming sharper and more impulsive, while downward momentum slows, hinting that buyers are quietly stepping in. With a decisive breakout above key resistance, the bulls could be gearing up for a significant counterstrike.
Overarching Bearish Structure: The Red Trend Line Cap
According to the latest XRP chart update by MakroVision Research, the broader market structure remains firmly within a downward trajectory, clearly outlined by the steeply declining red trend lines. These trend lines continue to cap every attempt at recovery, leaving the larger technical picture unchanged and leaning bearish.
Although the internal structure of the market has begun to show notable signs of improvement. Short-term price behavior reveals that upward movements are becoming more impulsive, faster, and more defined. At the same time, the downward phases are gradually slowing, taking longer to unfold and displaying less momentum.
This shift is a classic indication of fading selling pressure and increasing buyer activity at lower levels. The market may still be sitting below a dominant resistance zone, but its internal dynamics are no longer as weak as before.
If XRP manages a decisive move above the red trend line around $2.48, it would unlock the bullish potential that has been quietly building beneath the surface. Without this breakout, the token remains technically under pressure, but the groundwork for a potential reversal is clearly forming.
Key price levels to watch include the $2.2 – $2.22 resistance zone, the major $2.48 breakout level, and the support region around $1.95 – $1.88, which aligns with both Fibonacci retracements and recent reaction points.
Dual Track Conflict: Bearish Trend Vs. Bullish Internal Structure
In conclusion, MakroVision Research has highlighted that XRP is currently positioned on a dual-track path. While the big trend remains technically downward, the internal price structure is becoming increasingly and noticeably bullish. This diminishing downward momentum makes the current chart highly exciting.
The immediate fate of XRP now depends entirely on whether the asset can achieve a sustainable breakout above the crucial resistance marks previously mentioned, specifically the $2.48 trend line. If XRP succeeds in converting that major resistance into support, the analyst warns that the built-up bullish momentum could unfold very quickly, leading to a rapid surge in price.
Currently, the critical question remains whether XRP can achieve a durable trend reversal and capitalize on its internal strength, or whether the overarching bearish pressure will ultimately prevail, forcing the price to fall deeper toward the significant $1.4 low.
]]>
- 258 victims’ personal data stolen from six public and financial portals.
- BTS star Jungkook targeted with 8.4B won HYBE stock theft attempt.
- 21.3B won in virtual assets stolen, 12.8B won recovered by police.
South Korean authorities have uncovered one of the country’s largest cyber fraud cases, dismantling an international hacking ring that stole nearly 39 billion won from high-profile victims.
The Seoul Metropolitan Police Agency confirmed that the group exploited weak security across government, IT, and financial platforms to steal data from 258 people, which was later used for large-scale SIM-swap fraud.
The suspects targeted wealthy business leaders, lawyers, athletes, crypto investors, and celebrities, including BTS member Jungkook, who narrowly avoided losing 8.4 billion won worth of HYBE stock.
Investigations revealed the cross-border scale of the operation, stretching from Seoul to Bangkok.
Hackers exploited data from 258 victims
Between July 2023 and April 2024, the ring infiltrated six public and financial portals with weak protections. The breaches exposed personal details such as resident registration numbers and financial verification data.
Police said 258 victims were affected, including 75 business executives, 11 lawyers and officials, 12 celebrities, six athletes, and 28 virtual asset investors.
Collectively, the group accessed accounts with combined holdings estimated at 55.22 trillion won, with some single accounts exceeding 12 trillion won.
To execute the fraud, the hackers created 118 mobile accounts under the names of 89 victims. These accounts were then used to bypass security checks and siphon money directly from bank and crypto wallets.
In total, 16 victims lost 39 billion won, while financial institutions managed to block a further 25 billion won in attempted thefts. The largest confirmed loss involved 21.3 billion won in virtual assets.
BTS star Jungkook targeted with 8.4 billion won attempt
The scheme gained widespread attention after police confirmed that BTS member Jungkook was one of the intended victims.
Hackers attempted to move 8.4 billion won worth of HYBE stock under his name, but the suspicious transaction was blocked before funds left the account.
Officials credited banks and agencies with flagging abnormal activity, preventing Jungkook’s potential losses. In total, police managed to recover 12.8 billion won through swift interventions, including freezing accounts and stopping withdrawals.
However, investigators highlighted that the case exposed a critical weakness in South Korea’s non-face-to-face authentication systems, which the group manipulated to carry out its operations.
Arrests across South Korea, China, and Thailand
The investigation began in September 2023, when unauthorised mobile phone activations were first reported to Namdaemun Police Station. Over the following months, 16 suspects were identified and detained.
The ringleaders, identified only as Mr. A (35) and Mr. B (40), moved frequently between China and Thailand. Both were eventually arrested in Bangkok in May after Seoul police collaborated with Thai authorities and Interpol.
Mr. A was extradited to South Korea on August 22 and faces 11 charges, including large-scale fraud and hacking, while Mr. B remains in custody in Thailand pending extradition.
Three suspects are still in detention in South Korea, while the rest face prosecution for fraud, hacking, and violating the Information and Communications Network Act.
Police noted that the outcome could have been far worse had the group been allowed to continue operations.
Crypto scams rising in South Korea
The case adds to a growing wave of cybercrime linked to cryptocurrency in South Korea. On May 15, Jeju police arrested 25 suspects for running fake investment schemes that defrauded 48 people of 734 million won.
In a separate incident, a police officer in Incheon was charged with embezzling 700 million won from investors in a bogus crypto project.
Meanwhile, Park “Jonbur Kim,” known as the “Coin King,” is on trial for manipulating the Artube coin, which caused investor losses of 68 billion won.
Authorities are also investigating large-scale money laundering. Prosecutors say unlicensed brokers funnelled 943.4 billion won through Neteller Pay between 2019 and 2024, earning 26 billion won in commissions.
Assets worth 4.4 billion won in Ethereum have since been seized from hidden wallets.
Cases have even extended into romance scams, with a man in his 50s losing 100 million won in July, and celebrity-linked fraud, with actress Hwang Jung-eum facing trial for embezzling 4.3 billion won from her agency for crypto purchases.
Despite these risks, South Korea remains one of the world’s most active crypto markets. Chainalysis data shows $130 billion in inflows in 2024, with over 10.8 million Koreans trading digital assets.
More than 10,000 investors hold balances above 1 billion won, especially among traders in their 20s. Regulators are now preparing to approve the nation’s first spot crypto ETFs and a won-pegged stablecoin, as major exchanges expand custody services to institutions.
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Ethereum currently has strong support at $2,200, but one analyst has pointed out that if the level fails, the next region to watch could be $1,160.
On-Chain Data Shows Strong Ethereum Demand Zone Near $2,200
In a new post on X, analyst Ali Martinez has talked about where support lies for Ethereum based on on-chain data. In on-chain analysis, levels are considered as major support/resistance zones if they host the cost basis or acquisition level of a significant part of the ETH supply.
The reason behind this lies in the fact that investors are more likely to show some kind of reaction when the retest of their break-even level takes place. This buying/selling is irrelevant to the wider market if only a few holders are having it tested at once, but the story can be different when the retest is of the cost basis of a large amount of them.
Related Reading
Below is the chart shared by the analyst that shows how the different price levels around the current Ethereum spot price are currently looking in terms of the amount of supply that was purchased at them.
In the graph, the size of the dot corresponds to the amount of Ethereum supply contained within the associated price range. It would appear that, out of the ranges listed, the $2,218 to $2,396 levels currently have the largest dot, meaning that they host the most supply.
More specifically, this range has the cost basis of 6.28 million addresses, who purchased a total of 67.2 million ETH at its levels. Given this fact, it’s possible that should a retest of the range occur, investors could show a strong reaction.
But what kind of reaction would it be, buying or selling? Well, these investors are in profit right now and usually, such holders are more likely to double down on the asset during declines to their acquisition mark, as they may believe the same price level would turn out to be profitable again in the future.
As such, the $2,218 to $2,396 range could end up acting as a strong support level for Ethereum. In the scenario that ETH falls below the lower end of the range around $2,200, however, it may have to rely on support elsewhere.
Related Reading
From the chart, it’s apparent that all the ranges below are much smaller in terms of supply. The next major support zone lies all the way down at $1,160, where 35.9 million addresses acquired 21.58 million tokens.
Naturally, Ethereum doesn’t have to slip right through to this zone if $2,200 is lost, but if the data is to go by, it does suggest that the coin could have a harder time regaining footing below it.
ETH Price
Ethereum is holding above the on-chain demand zone for now as its price is floating around $2,475.
Featured image from Dall-E, Sentora.com, chart from TradingView.com