Dogecoin Price Drops Below $0.10 as Analyst Spots Bullish Cup-and-Handle Setup on Daily Chart Coinpaper
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Cardano Breakout Incoming — Cup-and-Handle May Trigger Move to $2.9 as CME Plans ADA Futures TradingView — Track All Markets
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Cardano Breakout Incoming — Cup-and-Handle May Trigger Move to $2.9 as CME Plans ADA Futures ZyCrypto
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Dogecoin (DOGE) Price Prediction: Dogecoin’s RSI Cross and Cup-and-Handle Pattern Hint at $1 Surge as Bulls Aim to Rebound from Whale Sell-Offs Brave New Coin
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BNB has cleared the $1,050 mark with a strong cup-and-handle breakout, putting bulls firmly in the driver’s seat. The next big question: can momentum carry the token toward the $1,100 target?
BNB Breaks $1,050, Extending September Momentum
Crypto analyst Cipher X, in a recent update, emphasized that BNB has officially broken through the $1,050 mark, locking in yet another key milestone following its impressive September rally. The surge has not only reaffirmed the strong bullish momentum behind the asset but also positioned it as one of the standout performers in the market.
Looking ahead, Cipher X pointed out that the next major focus lies on the $1,100 resistance zone. A decisive breakout above this point could pave the way for even greater upside into Q4, strengthening the narrative of BNB entering a new leg of its rally. With market sentiment leaning positive, the price action over the coming days will be crucial in confirming whether the momentum can move forward without major setbacks.
On the flip side, support remains well-established around $1,000 and $900, levels that provide a strong safety cushion for bulls should the market experience a pullback. These zones have historically held firm and could act as reliable springboards for fresh upward moves. For now, the balance of power is clearly with the buyers, and unless unexpected volatility disrupts the trend, BNB seems poised to continue pressing higher into the new quarter.
Cup and Handle Formation Signals Strength
Earlier, market analyst Kamran Asghar highlighted a notable setup forming on the BNB 4-hour chart in a post on X. He observed that BNB was developing a classic Cup and Handle formation, a technical pattern often associated with bullish continuation and breakout potential. Such a setup, when confirmed, tends to signal that the market has been consolidating before building enough momentum to push higher.
Asghar stressed that the key level to watch is the $1,030 neckline resistance, which acts as the ceiling for the token’s upward momentum. A clean breakout and strong close above this resistance would validate the pattern and likely invite additional buying pressure. Should the breakout succeed, Asghar projected that BNB could quickly extend toward the $1,100+ region, opening doors for even larger gains if bullish sentiment sustains.
However, until that confirmation arrives, he advised caution, noting that any failure to overcome the neckline might trigger short-term pullbacks as the asset consolidates further. This makes the coming sessions crucial in determining the altcoin’s next directional move.
]]>Dogecoin (DOGE) Price Prediction: Can Dogecoin Ride the Cup-and-Handle Rally and Break the $0.357 Resistance in July? Brave New Coin
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Crypto analyst Jelle has highlighted a bullish pattern that has been forming on the Bitcoin chart for the last three years. The analyst suggested that it could soon be time for the pattern to play out, with a price target of $100,000 and above in sight if it does.
3-Year Cup And Handle Pattern Could Soon Play Out For Bitcoin
In an X (formerly Twitter) post, Jelle stated that it shouldn’t be long before the 3-year cup and handle pattern on Bitcoin’s chart starts playing out. The analyst suggested this could happen as soon as the fourth quarter of this year and noted that the pattern has a 6-figure range. The accompanying chart showed that Bitcoin could rise above $100,000 and reach as high as $140,000.
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Indeed, the fourth quarter of the year is bullish for the flagship crypto, although it remains to be seen if it can rise above $100,000. Bernstein analysts have predicted that Bitcoin would at least reach $90,000 if Donald Trump wins the election. Standard Chartered has offered a more bullish prediction, stating that BTC will get to $150,000 by year-end if Trump wins.
However, irrespective of the election’s outcome, its aftermath is bullish for the flagship crypto since it would provide more certainty to the market. Historically, Bitcoin also enjoys positive monthly returns in the last quarter of every halving year. In 2016 and 2020, the flagship crypto enjoyed three consecutive months in the green between October and December.
The Fed rate cuts could begin at the next FOMC meeting next week, which will be held between September 17 and 18. This is expected to boost investors’ confidence in investing in risk assets like Bitcoin.
Other Reasons BTC Could Rise Above $100,000
Crypto analysts have provided other reasons why Bitcoin could rise above $100,000 from a technical analysis perspective. Titan of Crypto highlighted a Bitcoin bull pennant that is currently forming on the monthly timeframe. He predicted this could send the flagship crypto to as high as $158,000 if it plays out.
The crypto analyst had earlier revealed a Golden Cross that had formed on Bitcoin’s 2-month chart. He noted that this bullish pattern has always led to a massive rally for BTC, suggesting that this could happen again. The chart he shared showed that the flagship crypto could reach six figures if this rally were to occur.
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Crypto analyst SalsaTekila has offered a more bullish prediction that Bitcoin could rise above $200,000 in this market cycle. He claimed this price level looks like a “target for chickens.” The analyst remarked that the market is structurally different this time as the spot market looks to dominate. He added that this is ultimately bullish as the available supply diminishes.
At the time of writing, Bitcoin is trading at around $59,900, up over 2% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
Shiba Inu (SHIB) broke out of its prevailing “cup-and-handle” pattern on Aug. 14, raising its prospects of securing additional gains in the coming weeks.
Shiba Inu could soar 50%
A cup-and-handle appears when the price falls and rises in a U-shaped trajectory in the first stage, followed by a swift move sideways or downward in the second. Notably, the price trend develops under a common resistance level.
Typically, cup-and-handle patterns resolve after the price breaks above the resistance level; SHIB did the same on Aug. 14 after rising 27% to $0.000016, as shown below.
Per the rule of technical analysis, a cup-and-handle breakout target is determined by measuring the distance between the pattern’s lowest point and resistance line and adding it to the breakout point. As a result, SHIB could head toward $0.00002253.
In other words, a 50% price rally by September.
A nonsense rally, nonetheless?
Fundamentally, Shiba Inu’s 27% intraday price rally on Aug. 14 had no visible catalysts except a metric showing that SHIB’s burn rate surged by 825% in a day. But the amount of burned SHIB is worth only over $4,500.
On the whole, however, the Shiba Inu network has burned over $6.36 million worth of SHIB tokens in its lifetime.
In addition, the Shiba Inu rally came almost ten days after Binance’s announcement to add SHIB support on its payment cards issued in Europe. In doing so, the crypto exchange raised SHIB’s potential to find new users in the emerging European cryptocurrency space.
We are pleased to announce that @binance has added SHIB to the list of supported tokens for the Binance Card issued in Europe.
You can now pay with SHIB at 60+ million merchants worldwide. Furthermore, get up to 8% cashback and zero annual or FX fees!https://t.co/0Xj7IXPyt0 pic.twitter.com/FqINtnHFWx
— Shib (@Shibtoken) August 5, 2022
Weak fundamentals could offset SHIB’s technically bullish bias, however, given tha cup-and-handle setups have only a 61% success rate in meeting their profit targets, according to veteran analyst Tom Bulkowski.
Related: 3 cryptocurrencies that stand to outperform ETH price thanks to Ethereum’s Merge
Therefore, a failed cup-and-handle breakout—also on a pullback from the 200-day exponential moving average (200-day EMA; the blue wave in the chart below) near $0.00001755—could have SHIB eye an initial correction toward $0.00001306, down 20% from today’s price.
Shiba Inu’s cup-and-handle setup could fizzle because of the token’s overbought daily relative strength index (RSI). Notably, the RSI has crossed above 70, which typically results in a period of sideways consolidation or correction.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
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