Daily News 19

Tag: On-chain metrics

  • Analyst Reveals New Bullish Targets for Bitcoin and XRP

    Analyst Reveals New Bullish Targets for Bitcoin and XRP

    Key Highlights

    • Crypto analyst Ali Martinez identifies $1.60 as the critical neckline level for XRP; a decisive breakout could confirm an inverse head-and-shoulders pattern and target a 30% rally toward $2.
    • Whale accumulation exceeds $2 billion in XRP, while Bitcoin sees over 2,722 large transactions (>$1M) in a single day and U.S. spot Bitcoin ETFs add $1.6 billion in BTC over 72 hours.
    • Bitcoin’s key on-chain support zones sit at $84,569 and ~$77,000, with major resistance at $104,765 and the MVRV average band near $100,670.

    Martinez Maps Out Technical Roadmap for XRP and Bitcoin

    Prominent crypto analyst Ali Martinez has published a detailed technical breakdown for the two largest digital assets by market attention—XRP and Bitcoin—following a period of sharp price appreciation. According to Martinez, XRP surged 27.6% from $1.25 to $1.58, a move he believes may have completed the right shoulder of a large-scale inverse head-and-shoulders formation on the daily chart. The analyst emphasizes that the $1.60 level now acts as the pattern’s neckline and represents the most critical threshold for the token. A decisive breakout above this price, Martinez notes, would validate the bullish structure and open the door for an approximate 30% advance toward the $2 psychological mark.

    Whale Activity and ETF Flows Underscore Institutional Conviction

    Beyond chart patterns, on-chain data shared by Martinez highlights aggressive accumulation by large holders. Whales have added more than $2 billion worth of XRP in recent sessions, signaling deep-pocketed confidence in the asset’s next leg higher. On the Bitcoin side, the analyst points out that the flagship cryptocurrency has climbed over 50% since its July 1 low of $57,749. Despite the rapid ascent, profit-taking among major players remains muted: the Bitcoin network processed more than 2,722 transactions valued above $1 million in the last 24 hours alone. Complementing this whale activity, U.S.-listed spot Bitcoin exchange-traded funds have collectively absorbed over $1.6 billion worth of BTC in just 72 hours, reinforcing the institutional demand narrative that has underpinned the rally.

    On-Chain Metrics Define Bitcoin’s Key Battle Zones

    Support and Resistance Clusters from Realized Price and MVRV Bands

    Martinez’s on-chain cost-basis analysis identifies two primary demand zones for Bitcoin. The first sits at $84,569, where roughly 600,000 BTC previously changed hands, creating a dense cluster of realized cost. A secondary support layer emerges near $77,000. On the upside, significant supply overhead resides around $104,765, a level at which approximately 283,000 BTC were last transacted. Market-Value-to-Realized-Value (MVRV) price bands paint a similar picture: the average MVRV band near $100,670 represents the next major resistance hurdle, while the lower MVRV band around $74,361 serves as a strong support floor. These levels provide traders with a data-driven framework for gauging potential price reactions as Bitcoin approaches the six-figure milestone once again.

    Why This Matters

    The convergence of technical pattern completion, whale accumulation, and record-breaking spot ETF inflows suggests a broadening of the bullish thesis for both XRP and Bitcoin. For XRP, a confirmed breakout above $1.60 would not only validate a classic reversal pattern but also coincide with renewed legal clarity following Ripple’s partial court victories, potentially attracting fresh institutional capital. For Bitcoin, the persistence of large-holder activity during a 50%+ rally—coupled with sustained ETF demand—indicates that the current up-cycle may be driven by structural adoption rather than speculative froth. Market participants should monitor the $1.60 neckline for XRP and the $100,670 MVRV band for Bitcoin as near-term catalysts that could dictate the pace of the next directional move.

    Frequently Asked Questions

    What is the significance of the $1.60 level for XRP?

    $1.60 represents the neckline of a large-scale inverse head-and-shoulders pattern on the daily chart. Analyst Ali Martinez states that a decisive breakout above this level would confirm the bullish formation and project a measured-move target near $2, implying roughly 30% upside from the breakout point.

    How much Bitcoin have U.S. spot ETFs accumulated recently?

    According to data cited by Martinez, U.S.-based spot Bitcoin ETFs have added over $1.6 billion worth of BTC in the last 72 hours, underscoring strong institutional demand amid the recent price rally.

    What are the key on-chain support and resistance levels for Bitcoin?

    Major on-chain support zones are identified at $84,569 (approx. 600,000 BTC volume) and ~$77,000. Key resistance sits at $104,765 (approx. 283,000 BTC volume), with the average MVRV price band near $100,670 acting as an additional overhead barrier. The lower MVRV band around $74,361 provides a deeper support reference.

  • Analyst Behind Viral Model Reveals Bitcoin’s Next Bullish Target

    Analyst Behind Viral Model Reveals Bitcoin’s Next Bullish Target

    Key Highlights

    • Bitcoin has closed above the 50-week moving average (~$79,000), with the next technical target at the 100-week moving average (~$89,000).
    • Analyst PlanB declares the Bitcoin bear market over, citing August’s close at $78,571 and recovery across multiple market indicators.
    • Profitable Bitcoin supply surged from 50% to 72%, while the monthly RSI climbed from 41 to 51, signaling strengthening momentum.

    Bitcoin Breaks Key Technical Barrier as PlanB Signals Bear Market End

    Bitcoin’s price action has crossed a critical threshold, closing above the 50-week moving average near $79,000 and trading around $81,000 at the time of analysis. Widely followed pseudonymous analyst PlanB highlighted the development, stating, “Bitcoin closed above the 50-week moving average. The next target is the 100-week moving average, around $89,000.” This technical milestone positions the asset for a potential test of the longer-term 100-week average, a level historically associated with major trend transitions.

    Multiple On-Chain and Momentum Indicators Confirm Recovery

    Beyond the moving average crossover, PlanB emphasized a confluence of supporting data points. The analyst noted that August concluded with Bitcoin at $78,571, marking a turning point after which various market indicators began to recover. Notably, the percentage of Bitcoin supply in a profitable state has jumped significantly from 50% to 72%, reflecting a broad improvement in holder economics. Simultaneously, the monthly Relative Strength Index (RSI) has risen from 41 to 51, crossing above the neutral 50 threshold and indicating a shift from bearish to bullish momentum on the macro timeframe.

    Analyst Concludes Bottom Is Likely In

    Synthesizing these technical and on-chain metrics, PlanB assessed that the bear market in Bitcoin has ended and that the cryptocurrency may have already passed its cycle bottom. The combination of price reclaiming the 50-week moving average, expanding profitable supply, and improving momentum oscillators constructs a technical framework that supports bullish expectations for the upcoming period. While the analyst’s commentary carries weight in the crypto community, the standard disclaimer applies: This is not investment advice.

    Why This Matters

    The 50-week and 100-week moving averages are among the most watched long-term trend filters in Bitcoin technical analysis. A sustained close above the 50-week average has historically preceded extended uptrends, while the 100-week average often acts as a “line in the sand” between bull and bear market regimes. The simultaneous improvement in realized profitability metrics—from 50% to 72% of supply in profit—suggests a reduction in unrealized losses across the network, which typically reduces selling pressure. The monthly RSI reclaiming 50 adds a momentum confirmation that has been absent during the recent consolidation phase. Together, these factors align with a classic market structure shift from accumulation to markup, though macroeconomic risks and regulatory developments remain external variables.

    Frequently Asked Questions

    What are the specific price levels for the 50-week and 100-week moving averages mentioned by PlanB?
    The 50-week moving average sits around $79,000, which Bitcoin has now closed above. The next target, the 100-week moving average, is approximately $89,000.
    What on-chain metric showed the most dramatic improvement according to the analysis?
    The percentage of Bitcoin supply in a profitable state increased from 50% to 72%, a 22-percentage-point jump indicating significantly healthier holder economics across the network.
    Does PlanB’s analysis constitute a price prediction or investment recommendation?
    No. The analysis presents a technical assessment based on moving averages, profitability ratios, and momentum indicators. The source explicitly includes the disclaimer: “This is not investment advice.”

  • Ethereum Eyes $3,000 as Supply Tightens: Can ETH Break Out?

    Ethereum Consolidates After Rally to Eight-Month High

    Ethereum (ETH) has entered a consolidation phase following a powerful upward move that lifted the altcoin to an eight-month peak of $2,660. After reaching that level, the asset has pulled back and was changing hands near $2,474 at the time of writing.

    Buyers Defend Key Support

    At the current price zone, market participants are closely watching whether buying pressure can absorb selling activity and establish a higher low. The pullback from the recent high represents a typical cooling-off period after a sharp advance, giving traders an opportunity to reassess momentum indicators and on-chain metrics.

    Technical Context

    The rally to $2,660 marked the strongest price action for ETH since late 2023. A sustained break above that resistance could open the path toward the $2,800–$3,000 region, while failure to hold above $2,400 may invite a deeper correction toward the 50-day moving average.

    Volume profiles during the consolidation will offer clues about whether accumulation or distribution is underway. On-chain data, including active addresses and exchange netflows, should be monitored for confirmation of the next directional move.

  • 463 Billion Shiba Inu in 24 Hours: Can Bulls Save SHIB Price?

    463 Billion Shiba Inu in 24 Hours: Can Bulls Save SHIB Price?

    Shiba Inu Exchange Outflows Surge as SHIB Tests Critical Support Zone

    Shiba Inu ($SHIB) is approaching a pivotal technical support area while exchange data reveals a significant shift in token distribution. Recent on-chain metrics show hundreds of billions of SHIB tokens exiting centralized exchanges, a development that typically reduces immediate sell-side pressure and could provide a supply-side tailwind for bulls.

    Exchange Netflow Turns Sharply Negative

    According to the latest exchange flow data, the measured period recorded approximately 461.4 billion $SHIB in outflows against 229.0 billion $SHIB in inflows. This produces a negative netflow of roughly 232.4 billion $SHIB, meaning substantially more tokens left tracked exchanges than entered them.

    Exchange reserves corroborate the outflow trend. Total reserves declined by 0.27% to approximately 86.97 trillion $SHIB, while the dollar value of those reserves fell 1.43% to $440.9 million. Notably, transfer counts increased only 0.87% to 4,429, suggesting the withdrawal imbalance stems from larger average transaction sizes rather than a surge in transaction volume.

    Persistent exchange outflows generally benefit price action by reducing immediately available sell-side liquidity. However, the signal alone does not guarantee a recovery. The seven-day moving average of mean exchange outflows has decreased by 37.5%, indicating withdrawal intensity is weakening relative to its recent baseline.

    Technical Picture: SHIB at a Decisive Support Cluster

    The price chart underscores why the coming sessions are critical. $SHIB has reversed from its September local high of $0.00000555 and is currently trading near $0.00000505. The correction also broke the rising trendline that underpinned the late-August recovery.

    Price has now landed on a significant support cluster:

    • A longer-term moving average sits near $0.00000496
    • An intermediate (orange) moving average rests around $0.00000504

    If bulls can defend the $0.00000495–$0.00000505 zone, a momentum rebuild toward $0.0000053 and ultimately the $0.0000055–$0.0000057 region becomes plausible.

    Momentum Indicators Flash Caution

    Short-term momentum currently favors sellers. The Relative Strength Index (RSI) has dropped to approximately 47.3, falling below its signal line near 54.2. This confirms buyers have lost their near-term advantage.

    Outlook: Outflows Help, but Price Confirmation Required

    The 461 billion $SHIB outflow is a constructive development, yet bulls still need price confirmation to validate a recovery. Should the current support cluster fail, $SHIB could quickly retreat toward the $0.0000047–$0.0000045 area despite the positive exchange flow data.