Reserve Right Token Spikes Leaving Many In Euphoria, Eyes $0.01

RSR price holds above daily 50 EMA as price eyes $0.01  Price continues to look bullish, holding above key support areas RSR price breaks out of daily asymmetric triangle with high buy orders.  Reserve Right (RSR) token price has had a rough time in recent weeks breaking out of its range but could rally to $0.01 as price broke out with more buy orders against tether (USDT). Despite the crypto market facing so much uncertainty as to where the market is headed, the price of the Reserve Right (RSR) token…

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Insta-rally! FLOW token jumps 50% amid Instagram adoption euphoria

Flow (FLOW) logged its best daily performance on Aug.4 after becoming the latest blockchain to support Instagram’s nonfungible token (NFT) features. Insta-made FLOW rally Meta CEO Mark Zuckerberg announced on Aug. 4 that Instagram had expanded its NFT support to 100 more countries in Africa, the Asia-Pacific, the Middle East and the Americas. As a result, more users can post digital collectibles minted on the Flow blockchain on Instagram. The high-profile integration helped FLOW surge 54% to reach an intraday high of $2.83 a token. Interestingly, the token’s massive upside move…

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Sell the news? Cardano price risks 20% drop despite Vasil hard fork euphoria

Cardano (ADA) has dipped this July 21 as the market favors mounting selling pressure around its most reliable resistance levels in 2022 over a major upcoming hard fork. ADA price could plunge 20% by early August ADA’s price fell 5% intraday to $0.476. The downside move came as a part of a broader retreat that started a day after it briefly climbed above its 50-day exponential moving average (50-day EMA; the red wave in the chart below) near $0.50. The 50-day EMA has been serving as ADA’s curvy resistance level since…

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Dogecoin price risks 40% correction despite Elon Musk-Twitter euphoria

Dogecoin (DOGE) prices flipped higher in the last 24 hours after its most celebrated backer, Elon Musk, purchased Twitter for $44 billion. At its best, Dogecoin had climbed to $0.17 on April 25, albeit still down 77% from its record high in May 2021. Twitter’s native currency: Dogecoin? DOGE’s price rose by nearly 25% to $0.15 on a 24-hour adjusted timeframe, confirming that traders considered Musk’s acquisition of Twitter a bullish event for Dogecoin. The reason: Musk’s long-time support for DOGE, including his recent advice to the Twitter board that they should…

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Dogecoin, CryptoCurrency Reddit communities surge as crypto euphoria heats up

With much of the market fixated on Bitcoin’s (BTC) sudden price correction over the weekend, retail interest in digital assets appears to be on the rise, according to the latest statistics from Reddit. The r/dogecoin community added 145,859 weekly subscribers, according to Subreddit Stats. The gains are hardly surprising given DOGE’s dramatic rally over the past week. The meme-based cryptocurrency skyrocketed 400% during that period, bringing its yearly returns to an eye-watering 5,000%. DOGE’s parabolic rally moderated over the weekend, with social media sentiment data from The TIE and Cointelegraph…

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Bitcoin, Coinbase Crypto Euphoria Is Blind To Potential Dollar Reversal

Today is the day everyone in crypto has been waiting for: popular Bitcoin exchange Coinbase has been publicly listed on the stock market for the first time ever. The entire industry is buzzing, still euphoric from the months of nothing but green candles. However, the euphoria could be blinding market participants to the fact that the dollar could potentially be ready to reverse. Crypto Market Celebrates Coinbase Listing Day With New Bitcoin All-Time Highs “The line separating investment and speculation, which is never bright and clear, becomes blurred still further…

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Aavegotchis sell out in under one minute as NFT euphoria continues

After a string of delays related to congestion on the Ethereum blockchain, the Aavegotchi nonfungible tokens have hit the open market — where they stayed for not even a full minute, the team reported to Cointelegraph. The Aavegotchi project attempts to create digital collectibles with real value backing them through an integration with Aave and its aTokens, interest-bearing representations of funds supplied to the DeFi protocol. While the Aavegotchis are designed to incorporate some gaming and collection elements to them, inspired by the handheld Tamagotchi devices popular in the early…

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Stack Funds hails Bitcoin’s ‘healthy correction’ predicts ‘euphoria’ ahead

Crypto index fund provider Stack Funds has labeled yesterday’s pullback as a “healthy correction” that was needed before Bitcoin continues its upward trajectory.  Bitcoin broke through $19,000 earlier this week after posting seven weeks of consecutive gains. According to the firm, the crypto has been at overbought levels since October, further supporting the need for a correction. The firm examined metrics around market psychology, and says market participants are currently in the ‘belief’ stage of the cycle which will eventually to flow into a ‘euphoria’ stage. To support their claims,…

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Galaxy Digital’s Q3 earnings mirror crypto euphoria

Galaxy Digital’s over-the-counter trading desk posted record volumes in the third quarter, signaling once again that institutional uptake of digital assets is on the rise.  The company’s third-quarter earnings report showed a 75% year-over-year rise in trading volumes, reaching approximately $1.4 billion. The increase was attributed to an expanding counterparty base, the rollout of an electronic trading platform and the continued growth of Galaxy Digital’s crypto derivatives business. Assets under management totaled $407.4 million at the end of the third quarter, which include $82.4 million in passive Bitcoin (BTC) and…

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Bitcoin price nears final hurdle at $12K before bull market euphoria

The price of Bitcoin (BTC) had to hold the crucial support level between $11,100-11,300, and it did. After this support test, the price of BTC continued to surge upward on Oct. 20, reaching the crucial resistance area between $11,900-12,200. This upward move came along with weakness in the dollar, as the U.S. Dollar Currency Index (DXY) dropped substantially. A correlation that’s been effective throughout 2020 already.  However, other cryptocurrencies haven’t been following in Bitcoin’s footsteps as altcoins are selling off heavily. Is the attention shifting back to Bitcoin?  The weekly…

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