Altcoins
TOSHI AnalysisTOSHI: Started to breakout support zone in the green area:
Be Aware: Potential bearish movement.
A Cool 3x On Bittensor $TAOAI is still hot and so is Bittensor TAO as one of the biggest winners since 2023.
Also – as of now – the Inauguration seems to trigger a little Mania.
Thats why I think this Cup and Handle Pattern will play out soonish.
RDNT Trading Idea ( 1H)RDNT is testing the red resistance zone 🔴. If it breaks out successfully, the next target is the green line level 🎯
I Am Not Convinced: Is XRP Bullish Now Or...Technically speaking, we have quite a few bullish signals. In fact, the whole chart structure is bullish, long-term.
Good morning my fellow XRP trader, here it is 2:35 AM.
I am not fully convinced as I don't see anything coming from this chart.
Are you expecting a strong move in the coming days?
Well, things can easily change.
Sometimes, when a pair moves very strong within a phase, the next phase it can become quite quiet. For example, many of the pairs that failed to grow strongly in late 2024 and early 2025 can start to move strongly now. And those pairs that did really good can continue to consolidate, sideways, with a downward bent.
While we are not bearish because we would never SHORT nor recommend SHORT until the end of the bull-market, for a rise we would look for hotter, more active pairs. Those pairs have a very different chart.
The way XRPUSDT looks like now it is as if it would like to continue sideways. That's the feeling I am getting from this chart. This feeling is supported by the chart signals as well as experience. Now, sideways doesn't mean down, it can rise but only to stop at resistance, then move lower but only to stop at support and continue with this sideways action for as long as...
I think XRP is going down.
Namaste.
DYDX: Easy 2025 Target @$6.22 —But Wait, Much Higher Is PossibleSome projects produced a very strong bullish wave to end 2024. Other projects didn't do much.
We have pairs that are now very close to their All-Time High.
Some other pairs are trading at, or very near to, an All-Time Low.
I think this is why it is so very important to consider each chart individually. We can have a general market perspective and develop a general bias, but when it comes to trading, buying and selling, each pair needs to be considered on its own.
DYDXUSDT recently hit a new All-Time Low. This is not bad. Actually, this is very good.
A pair like this we can buy without reservation because the downside is very limited, especially when the next advance is fully confirmed.
As for the 2025 bull-market top, we say that higher lows lead to higher highs. A lower low can lead to a lower high, that is, no new All-Time High in 2025.
When a project's chart looks like this one we become more conservative with the final target.
Not that a new ATH won't happen but that weakness has been revealed and we work with this information.
The bottom for DYDX is likely in. We have the same volume dynamic as mentioned in a previous publication; a lower low with decreasing volume. On this chart, bull volume is predominant and this is a signal of strength.
The final flash-crash seems like a shakeout move; the market looking for liquidity by breaking support. This thinking would be reinforced if a strong and fast recovery were to happen in the coming weeks and days. If the price remains low and trades lower for a while before recovering then we have to go with the weakness theory.
My belief is that DYDX will recover and it will grow super strong in the coming months.
If I had to make a prediction for a final target, I would say $18-19 is possible. The target mapped on the chart is an easy one and amounts to ~700%.
Thank you for reading.
After the bull-market starts to unravel, many pairs will move ahead of the pack and reveal what will be coming to the rest of the market. At that time, we can update our peak numbers and make more accurate predictions.
It is still too early, but we know the bull-market will be huge. The fact that the top Cryptos are not dropping and have been consolidating for months near resistance means that the market is not ready to sell. If the market isn't selling it is because it sees value in what it holds. If the whales and exchanges are ready to hold, this means that they are going to pump this market like never before.
Namaste.
Sei ABC Correction & 984% Target (2025 ATH Will Be Higher)Based on the MKRUSDT Elliott Wave Theory publication , we know that a bullish impulse comes after a correction.
Here we have SEIUSDT with a classic ABC correction after a 5 up-wave pattern (bullish impulse). After the ABC a new bullish impulse will develop which means five up-waves.
This is very interesting because we are looking at a bottom catch.
SEIUSDT bottomed in February 2025 as a technical double bottom, vs the August 2024 low, and a higher low, vs the October 2023 low.
This is all good but why is this important?
Once we hit bottom, there is no place left to go but upwards.
SEIUSDT just hit bottom and this bottom is very likely to be followed by the strongest bullish wave ever for this project because this is a new project.
The target on the chart is mildly strong but I still feel that I am being conservative here. Since this pair wasn't around in 2021, we don't know its potential for 2025. The only bullish wave we have is that one from late 2023 through early 2024.
So we have 984% potential being conservative, but the truth is that SEIUSDT is likely to peak much higher by the time the bull-market ends. It will be wild. It will be amazing.
Thanks a lot for your continued support.
Namaste.
Axelar 231% Potential —Keeping It SimpleThe left side of the chart is the consolidation range. The red channel comes from a breakdown of support. This is not a bearish impulse but a breakdown of support. This is revealed by the structure of the chart and the trading volume.
Since support broke down, the next logical step is for AXLBTC (Axelar) to test previous support as resistance. This indicate a move back to baseline, this is the minimum. The baseline being a ~60% up-move.
The resistance level will break then Axelar will end up moving higher, much higher...
Additional details and a higher target can be found mapped on the chart.
Thank you for reading.
Namaste.
Bittensor: Solid Trading, High Profits —Strong Bullish Signals This is a great pair and the chart looks awesome. There is a combination of simple signals, classic signals and strong signals; all bullish signals.
Let's get started.
Bittensor (TAOUSDT) recently produced very high volume. The session with the highest volume was a green day. This volume started rising in November 2024.
There was a major low hit on the 3rd of February 2025. This major low is a higher low compared to 5-August 2024. Boom, that's a classic. A long-term higher low (six months).
To continue with the classics, today TAOUSDT is moving above EMA55. The day is early so this is a strong signal. This is quite revealing. Once above EMA55 the bullish bias mid-term is confirmed; but, to be honest, we are going up long-term.
If you move the chart up, you can find higher targets. The first target on the chart is something minimum and easy. This pair can also be traded with leverage just as one can accumulate through spot. The choice is yours.
This is a major pair and will do great in this bull-market.
There are many different types of pairs. Some have high potential for profits but there is some uncertainty around them, small pairs. Some others are very strong and easy to hold. This one is in the category of easy hold. If you have a big diversified portfolio, I recommend this one. I think it will grow really strong.
The market offers something for everybody, all types of traders, for all types of lifestyles, for all types of capital.
My people are mainly searching for stress free, relaxation, sure long-term profits, but we also have leveraged traders and also some memecoiners, there is everything for sure.
What you choose is up to you.
It will depend on your likings. Your risk tolerance, your capital, what is available in your country, your goals.
I am here always for your assistance.
I am at your service.
Thanks a lot for your continued support.
You will do great in this bull-market.
I know you will.
There is no other option. What you get is the result of your work.
You've been working hard.
You deserve the best.
Namaste.
BERA Defies Market Trends, Eyes 160% Surge Amid Bullish MomentumIn a market facing significant volatility, BIST:BERA has emerged as a top-performing Layer 1 (L1) blockchain coin, surging 13% in 24 hours and inching closer to its all-time high (ATH) of $15.20. With a resurgence in buying pressure, increased spot inflows, and a strong technical outlook, BIST:BERA is positioning itself for a remarkable recovery.
Why is BIST:BERA Pumping?
- Strong Buying Pressure: The Chaikin Money Flow (CMF) indicator stands at 0.04, signaling bullish inflows.
- Capital Movement: After witnessing $2.6 million in outflows, BIST:BERA has now recorded $316K in fresh spot inflows, indicating renewed investor interest.
- Investor Sentiment: Holders are choosing to accumulate rather than sell, reinforcing long-term confidence in the asset’s value.
Moby Expands to Berachain, Strengthening Its DeFi Ecosystem
A pivotal development for the Berachain ecosystem is the launch of Moby, the No.1 options protocol on Arbitrum, on the Berachain Mainnet. Moby has facilitated over $3.5 billion in total trading volume and is now set to transform on-chain derivatives trading within the Berachain network.
Berachain distinguishes itself as an EVM-identical Layer 1 blockchain that operates on the revolutionary Proof of Liquidity (PoL) consensus mechanism. Unlike traditional Proof-of-Stake (PoS) networks, PoL embeds liquidity provisioning directly into the security model, ensuring that validators, applications, and users benefit from a seamless and capital-efficient ecosystem.
Moby’s selection for Berachain’s prestigious Request for Application (RFA) program signals its critical role in the ecosystem. The protocol has also forged key partnerships with Kodiak, Infrared, PumpBTC, and GMX, further expanding its influence in DeFi.
Technical Outlook: BIST:BERA ’s Bullish Setup
At the time of writing, BIST:BERA is up 4%, ranking among the top-performing altcoins of the week. Despite a 65% decline from its listing price, key indicators suggest that BIST:BERA could be on the verge of a substantial breakout:
- Relative Strength Index (RSI) at 65: Holding strong, indicating sustained momentum without being overbought.
- Falling Wedge Pattern: A classic bullish reversal pattern, hinting at an imminent uptrend.
- Potential 160% Surge: BIST:BERA could aim to reclaim its previous ATH of $15.20, presenting a significant upside opportunity.
Conclusion
With a combination of **strong technical indicators, surging capital inflows, and an expanding DeFi ecosystem**, BIST:BERA is well-positioned for a significant rally. As the asset gains traction, traders and investors should closely monitor its price action, as the next leg up could be the most explosive yet.
Will BIST:BERA reclaim its ATH and set new records? The market is watching, and the momentum is undeniable.
Aptos (APT) Surge 16% as Token Unlocks Spark Market AnticipationAptos (APT), one of the emerging Layer 1 blockchain networks, saw a remarkable 16% price surge today despite the upcoming release of 11.31 million APT tokens—representing 1.97% of its total supply—on February 10, 2025. This release, valued at approximately $71.25 million, had initially created uncertainty, causing APT to dip 6.08% last week to $5.80, with a 20.62% drop in trading volume to $219.93 million. However, today’s bullish movement suggests traders have already priced in the token unlock event and are positioning for potential gains.
Token Unlock and Market Sentiment
Token unlocks can often introduce downward pressure due to an increase in circulating supply. However, in the case of Aptos, previous major unlock events have historically led to significant trading activity and, in some cases, price recoveries. The anticipation surrounding this unlock indicates that investors are still confident in Aptos’ long-term fundamentals and its position in the Layer 1 blockchain space.
Moreover, Aptos’ past all-time high (ATH) of $44 demonstrates its potential upside, and with market sentiment stabilizing, analysts suggest a potential rally towards $20 in the coming weeks. The broader crypto market’s resurgence and increasing demand for high-performance Layer 1 networks further support this bullish outlook.
Technical Analysis
Currently, APT is trading within a bullish zone, up 13.82% at the time of writing, with the Relative Strength Index (RSI) at 61.44—indicating strong momentum but still within a range that allows further upside movement.
- Support Level: The one-month low is serving as a key support point. If APT were to break below this level, it could test the $3 mark.
- Resistance Level: The 38.2% Fibonacci retracement level is acting as a significant resistance point. A breakout above this level could propel APT towards $10 and potentially $15.
Conclusion
Technical indicators suggest APT could target $10–$15 in the near term. As the market adjusts to the increased supply, Aptos remains one to watch in the coming weeks, with a possible move toward $20 if bullish momentum persists.
Altcoin Golden Cross Formed Last Week - First Time in 4 YearsTrading Fam,
You are probably tired by now of seeing all the hopeful headlines, predictions, and analysis while altcoins continue to descend. I am too. Therefore, I am going to sound a little more pessimistic in this post. Some call this 'realistic' but whatever ...semantics.
While I am hopeful that an altseason will occur, I am also beginning to become less and less convinced that anything like we experienced in the past will occur again. The longer we go without seeing the beginning of our altcoin cycle, the more time altcoins have to dilute the capital pouring into the market. There are just so many altcoins to choose from now and literally hundreds or thousands more are being created weekly by way of memecoins. As the meme on my chart illustrates, those pouring in are spreading their resources out much more thinly now because there is so much more to choose from than there was in 2021. Therefore, what pump we may see in our own investments may not equate to what we expect. And if we are not careful to pick the right coins, it may not even equate to the average profit that was realized in the altcoin market in 2021.
So, here's the deal. By now, you may or may not be aware that a couple of weeks ago our altcoin charts showed us something we haven't seen in over four years! It was the golden cross. This event occurs when our 100 DMA crosses above our 200 DMA. In this case, white represents the 100 DMA and red represents the 200 DMA. They are both SMAs. This event is supposed to be an amazing indicator and a lot of analyst were using it to say that we that our altcoin season has now begun. This very well could be the case, but also, we could drop further and use one of those moving averages as support before any real bounce occurs. Furthermore, past history should never dictate current. History may not in fact repeat and altcoin season may not occur at all. It doesn't have to. Maybe this time we don't get one? This is simply something we should realistically consider.
Now if it does occur, excellent! This is what I personally have been banking on. So, the other thing I want to discuss a little bit more is what actually occurred in the altcoin market last time this happened in 2021. You can see from the chart, that once the golden cross occurred, the race was on. Price essentially continued up through May, dipped from May through July and then continued up again from July through November. So, if you held from the beginning of the cross to our peak in November, you would have realized average altcoin gainz of around 500% (or 5x).
Now, let's say the same thing occurs this year. Our golden cross occurred two weeks later this year than it did in 2021 but I don't think that makes much of a difference. Essentially, if this altcoin season is truly beginning right now, we'll have about 9-10 months of upside with the potential of a big dip somewhere there in the middle. That dip in 2021 was about a 60% drop from top to bottom and paper hands folded quickly during that time thinking the top was in.
If similar price action occurs this year, then we may have 9-10 months to capitalize on alts but again, with a huge exception ...only the best of the best in alts will perform up to this 5x standard or better. You know, stuff like Doge, XRP, SOL, ETH (yes, I said ETH), etc. The OG classic boomer alts.
But what about memecoins?
IMO, a select few memecoins could still do very well, however, we have to be honest here. We are playing roulette. Despite what Murad and others on X continue to preach about belief and conviction and religiosity of the coin, the number of holders, yada yada yada, in the end, we have to be honest with ourselves or we will lose money. Memecoins are simply a big casino. Some will do very well and make their millions. You'll hear from these lucky bastards incessantly I am sure. The fact that they turned 100 dollars into $100,000,000 will be advertised on X and other social media platforms ad nauseam. You will want to go throw up because you were at one time in one of these memecoins too. And then you sold. And these are the stories you won't hear. You won't hear about how many failed. You won't hear about how many degens went broke chasing this imaginary illusion, this pipe dream, of unlimited wealth filled with lambos and yachts with girls. You won't hear that most memecoin traders lost money rather than gained.
I don't want to end too pessimistically here because I am playing the memecoin game too. I'm in the casino and spinning this wheel. Maybe one day I'll be one of those lucky bastards that wins. As of today, that is certainly not the case (just being honest) and I certainly don't stake my life savings on it. So, all I am suggesting here once again is to be cautious. Have fun. Play the game if you wish and I hope you win. But also, be careful, pick only the best of the best, and NEVER risk more than you can afford to lose.
Here's to hoping this is truly the beginning of another altcoin run.
✌️ Stew
OFFICIAL TRUMP: Timing (New Bullish Wave Now, Get Ready!)How are you doing my friend in the law?
I hope you are having a wonderful day.
If you are reading this, it is very likely that you are.
If you aren't having a wonderful time right now you will soon because TRUMPUSDT is about to go up. A new bullish move.
Ok, here is what I see:
The initial bullish breakout is in.
After this move there is always a retrace and this retrace must end in a higher low. Why? Because that is the only way for a bullish wave to be a real bullish move. If we get a lower low, this means that the market is still bearish and prices are going down rather than up.
Since we know that the market is bullish and Bitcoin is super strong, and ready to move ahead, we know that TRUMPUSDT is ready to follow and grow as well.
Or, let's just say that some unexpected news event will show up tomorrow and this will be the excuse that will be used to say that this pair is going up. That's good, I agree.
News or no news, the higher low is in and this means that a higher high comes next.
Volume has been dropping and volume has been really low. Prices move down and volume goes down. When prices moved up trading volume was really strong. This is the confirmation that the bias is bullish. This is the confirmation that TRUMPUSDT is going up.
Do you trust in omens?
Do you follow the omens?
Today I had a positive omen and this is the way I am translating it to the charts.
Timing is of the essence, it is time to get paid.
Two main ways to approach this pair in a successful way:
1) Spot trades. Buy and hold. Buy as much as you can. Buy, buy, buy, buy, buy then wait. That's it. We are set for long-term growth so it doesn't matter what you do as long as you buy when prices are low.
2) Leveraged traders. You just need to make sure that your position remains active. You can have high leverage but not high enough to go into liquidation risk. As long as you are in and safe, you win because a bullish wave is approaching TRUMPUSDT.
That's it.
Let's win.
This is great entry timing, I believe.
Last time we did good and it is time to do it again.
What will it be?
We are going up.
Thanks a lot for your continued support.
Thank you for reading.
Namaste.
Phemex Analysis $60: How to Trade SOL Amidst the FTX UnlockThe FTX’s decision to unlock 11.2 million SOL tokens (worth around $2 billion) at March 1st has sent shockwaves through the market. Fear of a potential sell-off has triggered panic among investors, leading to a sharp decline in SOL’s price from $200 to the $160 area.
With uncertainty in the air, traders are now asking: Will SOL continue its downward spiral, consolidate, or stage a strong comeback? In this analysis, we’ll explore three possible scenarios and how to trade them like a pro.
Possible Scenarios
1. Continued Downward Trend – More Selling Pressure Ahead?
Currently, SOL has dropped into the $165-$155 support zone, but if fear continues to dominate and selling pressure increases, further downside is possible. Key support levels to watch:
• $135-$126 – A critical demand zone where buyers may step in.
• $110 – A strong historical support level that could serve as a bottom.
For long-term investors, this could be an opportunity to accumulate SOL at a discounted price. However, for those who entered near $200, this scenario is less favorable.
Pro Tips:
• Use scaled orders to gradually enter the market instead of going all-in at once.
• Set limit buy orders around key support zones to secure an optimal entry.
• Monitor volume and Relative Strength Index (RSI)—if SOL becomes oversold on high volume, it could signal a potential reversal.
2. Bouncing Between $155 & $210 – A Range-Bound Market
While some traders fear a deeper decline, institutional buyers and long-term holders may step in to absorb the selling pressure. This could lead to a sideways trading range between strong support at $155 and resistance at $210.
Pro Tips:
• Use grid trading bots to capitalize on price swings:
• Start a long grid bot near the $155 support level to profit from rebounds.
• Start a short grid bot near the $210 resistance level to take advantage of pullbacks.
• If SOL repeatedly tests $210 but fails to break through, consider taking partial profits.
• Stay cautious—if the $155 support fails, be ready to adjust strategy for a deeper correction.
3. Breakout Rally – A Surprise Upside Move?
While less likely, a major bullish catalyst—such as the approval of a Solana ETF—could spark a breakout. If SOL gains regulatory or institutional backing, it may defy expectations and surge past resistance levels.
Pro Tips:
• Watch for a breakout above $210 with strong volume—this could signal a move toward $250+.
• Consider momentum trading strategies, setting stop-loss orders below $200 to manage risk.
• Stay updated on ETF-related news and broader crypto sentiment.
Final Thoughts
All eyes are on March 1st, when FTX’s SOL unlock event could bring heightened volatility. Whether SOL drops further, consolidates, or stages a breakout, traders need to stay alert and adjust their strategies accordingly.
• For bulls: Look for accumulation zones and wait for a confirmed reversal.
• For range traders: Take advantage of price swings between support and resistance.
• For breakout traders: Keep an eye on volume and fundamental catalysts.
No matter which scenario plays out, staying disciplined, managing risk, and reacting to market conditions is key to trading SOL like a pro.
🚀 How are you planning to trade SOL during this event? Drop your thoughts below! 🚀
Pro Tips:
Trade Smarter, Not Harder with Phemex. Benefit from cutting-edge features like multiple watchlists, basket orders, and real-time strategy adjustments. Our unique scaled order system and iceberg order functionality give you a competitive edge.
Disclaimer: This is NOT financial or investment advice. Please conduct your own research (DYOR). Phemex is not responsible, directly or indirectly, for any damage or loss incurred or claimed to be caused by or in association with the use of or reliance on any content, goods, or services mentioned in this article.
TOTAL2 - Rising MegaphoneThis structure allows for strong bullish continuation on this TOTAL2 chart
The green area line shows the continued support for price, this is also the 50MA
I believe we are going to see more support for alts and therefore the market cap will increase
Bullish on this Weekly
OFFICIAL TRUMP 6X Lev. Trade Setup (2,142% Potential)Hello my friend, thank you for reading.
Your support is appreciated.
Below I am sharing the full trade-numbers for my TRUMPUSDT leveraged trade. This is for experienced traders only. Use these numbers at your own risk. You are responsible for all your wins, gains and profits. I cannot be responsible if you make any money. It is your decision to either trade or not to trade. To read or not to read, to follow or not to follow. To eat or not to eat. To breathe or not to breathe.
If you do good. That is up to you.
If you lose any money, that is also your responsibility.
I am sharing these numbers for learning and entertainment purposes only. It should be construed as financial advice.
Leveraged trading is high risk and for adults only.
Adults are responsible for their own actions.
I am wishing you luck, wealth, health and success.
___
LONG TRUMPUSDT
Leverage: 6X
Entry levels:
1) $17.1
2) $15.2
3) $14.3
Targets:
1) $18.4
2) $20.2
3) $22.2
4) $24.1
5) $26.0
6) $28.8
7) $32.3
8) $36.1
9) $38.5
10) $42.3
11) $48.6
12) $53.6
13) $58.6
14) $64.3
15) $74.9
Stop-loss:
Close weekly below $15
Potential profits: 2,142%
____
If you enjoy the content, feel free to follow.
Thank you for reading.
Namaste.
ALTCOINS This is the final bullish call.The altcoin market has found support two weeks ago on the 1week MA50.
Even though it is pulling back this week, the new bottom has been formed and the Channel Up should now extend the Cycle and its final Bullish Leg.
The previous Cycle topped just under the 1.5 Fibonacci extension.
With the 1week RSI about to turn neutral, the trend now favors buying again.
We expect to see the market at 2 Trillion (just under the 1.5 Fib).
Follow us, like the idea and leave a comment below!!
JUP Breakdown or Fakeout? Don’t Get Trapped!JUP has broken below the rising trendline, but it is now testing a key support zone (highlighted in gray).
The current price action suggests that the market is at a decision point—whether it will confirm a breakdown or bounce back from support.
DYOR, NFA
Bitcoin Will Surprise You Based On The Altcoins ActionBitcoin has been very stable lately with no change. It has been very stable and strong. Bitcoin continues trading above 90K.
Good evening my fellow Cryptocurrency trader, I hope you are having a wonderful day.
Are there any doubts as to what is coming to Crypto?
Are you unsure about Bitcoin?
Let me clear those doubts.
Bitcoin has been sideways and consolidating just as expected. Nothing changes.
Why is this good news?
Each time there is a sideways period the market can move in any direction. The market might break up just as it can break down. That's the normal thinking. That's classic market behavior. If we don't know what Bitcoin will do next, we can become doubtful and miss the great opportunity that is developing now. This opportunity refers to great entry prices.
Bitcoin is bullish and Bitcoin will break up.
In fact, Bitcoin is not only breaking up in a matter of days but it will be a major bullish wave.
Bitcoin can move lower but it continues trading above 90K.
Bitcoin is ultra, hyper, mega strong above $90,000.
Current price is $96,000+.
Bitcoin will break bullish because the Altcoins are bullish.
Bitcoin is confirmed bullish because the Altcoins are recovering and moving up.
Some Altcoins are doing really good and breaking out with three digits green. 100% in a single day. Have you ever seen anything like it?
The only time when the Altcoins perform in this way is before Bitcoin starts going up. If Bitcoin was set to move lower and produce a major crash, the Altcoins would be bearish and moving lower as well. The fact that many pairs are already up and moving up; the fact that some are moving ahead, reveals that Bitcoin is bullish as well.
This is a repeat of 2024. Bitcoin is going sideways, consolidation, only to move higher and grow.
This already happened in 2024. Bitcoin went sideways for long just to break up.
Bitcoin has a four years cycle where only one year is bearish and the rest is all about growth. There is no going down. If Bitcoin was going to crash it would be down now but instead the market continues strong.
The Altcoins are ultra-bullish, that's all you need to know.
The Altcoins are bullish because Bitcoin is going up .
Namaste.
OTHERS.D \ ALTCOINS DOMINANCE CRYPTOCAP:OTHERS.D \ #Altcoins Dominance
The uptrend, which started in 2015, was tested again in December 2016 and the major pump process started. It was tested again for the third time in February 2025, 9 years later.
Grok Coin Faces Bearish Pressure: Is a Reversal on the Horizon?Grok ($GROK), a meme coin inspired by Elon Musk's AI venture, has been on a downward spiral, shedding 26% of its value in the past 24 hours. Currently trading at $0.003962, with a 24-hour trading volume of $15,794,286, the token has seen consistent selling pressure since its November 2024 highs. With a live market cap of $25,044,798, the question remains: is this just another dip, or is a potential breakout on the horizon?
Technical Analysis
Grok has been forming a falling wedge pattern, a classic technical setup that often precedes a bullish breakout. However, the continued downward momentum suggests that traders remain cautious amid broader Ethereum market conditions. Should the selling pressure persist, Grok’s price could test its one-month low, serving as a key support level.
On the flip side, a breakout past its one-month high would be a strong signal of renewed bullish momentum. The Relative Strength Index (RSI) currently sits at 52.46, signaling a potential reversal if buyers step in. Given the past price action, traders are eyeing the next resistance zone, where a sustained move above key levels could ignite a fresh rally.
Grok’s Position in the Market
Grok is a meme coin that capitalizes on the hype surrounding Elon Musk’s xAI project. Unlike many utility-driven tokens, its primary appeal lies in its meme status and community-driven momentum. While it has seen strong surges in the past, the current decline suggests a cooling-off period in speculative interest.
Despite the drop, the trading volume remains relatively high, indicating that liquidity is still present. The circulating supply stands at 6,320,722,346 GROK, with a maximum supply of 6.9 billion tokens. Investors are watching closely for any fundamental catalysts, such as Musk’s engagement with Grok or broader meme coin trends that could spark renewed interest.
What’s Next for Grok?
With the RSI indicating potential upside and the falling wedge pattern nearing its apex, traders are on the lookout for a breakout. If Grok manages to hold its key support levels and regain bullish sentiment, it could see a significant price recovery. However, failure to maintain support could lead to further retracements.
