DeFi News Daily Official TheBitTimes.com

An analyst has identified XRP’s next key price levels to monitor as the asset struggles to reclaim the $2.50 resistance level following a breakdown from a key technical structure. Notably, XRP had been following a steady upward trend within an ascending channel. However, the price encountered strong resistance near $2.50, aligned with the 0.236 Fibonacci retracement level, which triggered a sharp rejection and subsequent sell-off, as observed by analyst Rocksorgate . In a May 24 TradingView post, the analyst suggested that XRP’s recent drop was likely a coordinated move to break below the 200-period exponential moving average (EMA), a vital dynamic support that typically signals trend direction. XRP price analysis chart. Source: TradingView Currently, XRP is hovering near the 0.5 Fibonacci retracement level at $2.35, a critical support area. If this level holds, it may lead to price stabilization. However, if it fails, the next support lies at the 0.618 ($2.29) and...

Bitcoin price surge has intensified in the last few days as the leading cryptocurrency, currently trades at about $99,816.94, as CoinMarketCap reveals, just a few dollars away from the big $100,000 milestone that everyone’s been talking about. This Bitcoin price surge triggered a pretty massive $215 million liquidation of short positions just in the past 24 hours alone. Source: CoinMarketCap Also Read: Solana (SOL) & Cardano (ADA) Eye RWA, Trading Stocks On Blockchain Bitcoin Price Surge and Key Market Risks Ahead of $100K Breakout Source: Watcher Guru Market Liquidations Hit $298M The crypto market experienced one of its most aggressive shakeouts in recent weeks. At the time of writing, Bitcoin led the wipeout with approximately $114.46 million in liquidations, and then Ethereum followed with around $65 million in losses too. Short positions definitely bore the brunt with $215 million wiped out, which created what traders are calling a classic short squeeze right in the middle of...

The Avalanche AVAX cryptocurrency has fallen below its $26 resistance level, dropping over 30% in the past month according to price charts. Whale sell-offs of the altcoin total $780 million, indicating worry among large investors over the asset’s future. On-chain data previously showed strong resistance at $27.91, a level it hasn’t hit since last week. Now below $26, investors are questioning if price predictions for AVAX hitting $30 are still plausible. With altcoin season set to begin sometime next month, the crypto market anticipates many altcoins like AVAX to rebound. The market has faced resistance since the start of the year, with most coins in the red. Avalanche’s price trend has surpassed a local resistance trendline. This marks a bullish breakout of a descending triangle pattern, which previously followed a bearish trend. With the breakout rally, the AVAX price trend is aiming to challenge the 23.6% Fibonacci level at $26.65. Currently, AVAX trades at $25.48, ...