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Drift

Drift Token Surges 100%, Hits New ATH Following Upbit ListingThe Drift token ($DRIFT) is making waves in the cryptocurrency world, experiencing a remarkable 100% surge in value following its recent listing on South Korea's premier exchange, Upbit. This significant milestone has elevated DRIFT to an all-time high (ATH) as trading volume skyrocketed by 1000%, reinforcing its strong position within the decentralized finance (DeFi) space. Upbit Lists DRIFT with KRW, BTC, and USDT Trading Pairs Upbit’s official announcement on November 8 revealed that DRIFT trading pairs would be available in KRW, BTC, and USDT, offering flexibility and convenience to a diverse trading community. Upbit has outlined network limitations for the token: deposits and withdrawals are exclusively supported on the Solana network, and specific transaction restrictions will apply, such as buy limits, minimum sell price restrictions, and designated order types. These measures align with Upbit’s regulatory practices and ensure a structured trading environment for DRIFT. The Impact of Major Listings: Boosting Visibility and Investor Interest Drift Protocol has previously gained traction with listings on major platforms like Coinbase. Now, with Upbit onboard, DRIFT's listing highlights the power of major exchanges to drive momentum and boost market interest. Major listings introduce emerging tokens to a broader audience, fostering greater liquidity, demand, and accessibility—especially critical in rapidly growing markets like Asia. Comparisons with similar tokens underscore this trend: SAFE token’s price spiked 88% after its Upbit debut, indicating the transformative impact of visibility and accessibility on token success. DRIFT’s success story exemplifies this effect, as it attracts growing attention from traders, investors, and the DeFi community. Price Action and Technical Analysis Following the listing, DRIFT’s price surged to around $0.90, paring some gains to an 86% increase. Its rapid rise from a 24-hour low of $0.4746 to a peak of $0.9747 reflects heightened investor enthusiasm. As trading volume soared by 1000%, DRIFT solidified its momentum, affirming the positive market sentiment surrounding its future in DeFi. However, despite this rapid growth, derivatives markets data shows a slight cooling trend: open interest in DRIFT has dropped by 8% over the past 4 hours. While this dip suggests a potential pullback in the near term, DRIFT’s support at $0.70 is expected to provide a solid foundation for future price rebounds. The token’s current Relative Strength Index (RSI) reading of 72 places DRIFT in overbought territory, indicating that a temporary correction might be on the horizon. This cooling phase could stabilize DRIFT and set the stage for sustainable growth as the token capitalizes on recent gains. Drift Protocol Drift Protocol’s ascent in the DeFi sector is fueled by its innovative offerings, including perpetual futures trading on the Solana blockchain. This functionality empowers users to access a decentralized exchange with advanced trading capabilities, a valuable proposition as DeFi expands globally. With DRIFT's recent listing on Upbit, the protocol is poised to gain a stronger foothold in the Asian market, where demand for decentralized and transparent financial services is growing. What’s Next for DRIFT? With strong support at $0.70, DRIFT’s price trajectory suggests potential for further gains. As more users recognize its functionality within the DeFi space, and with increased visibility from its latest exchange listings, DRIFT is positioned as a promising token for long-term growth. As the DeFi space evolves, DRIFT’s achievements mark it as a noteworthy contender in the market, combining robust technical foundations with rising global interest. Traders and investors should closely monitor its trajectory as Drift Protocol advances in its mission to redefine decentralized trading.
by DEXWireNews
Drift targets for accumulationDrift listed with much better metrics than many other new coins after air drops! 17% unlocked and less than 100m market cap at this current circulation supply Based on IAP model im waiting 2 scenarios! Targets showed and explained why exactly this targets in educational IAP post Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! ✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes. --- • Look at my ideas about interesting altcoins in the related section down below ↓ • For more ideas please hit "Like" and "Follow"!
Short
by Crypto4light
1
Bitcoin strong growthAccording to the latest data that our team receives, we concluded that the global market maker has finished accumulating its three main assets: BITSTAMP:BTCUSD , BITSTAMP:ETHUSD and BITSTAMP:SOLUSD . The main idea is to realize and lock in profits on these three assets and further profit spillover into altcoins. We expect that in October-November there will be a local growth, which will also trigger the growth of a number of altcoins (local market makers such as GSR, Wintermute and others will start playing out their plans on altcoins). Based on chart analysis, we expect Bitcoin to rise to the $70300-71200 area, which compares to the 1.5 and 1.618 Fibonacci levels respectively; we also consolidate above the 50 EMA. Among altcoins, BINANCE:WLDUSDT , BINANCE:APTUSD , COINBASE:BLASTUSD and COINBASE:DRIFTUSD look good. Expect localized growth on these assets! Best wishes, Horban Brothers!
Long
by horbanbrothers
Is DRIFTUSDT About to Explode? Watch These Critical Levels CloseYello, Paradisers! Are you ready for what might be an explosive move in #DRIFTUSDT? The structure is looking very promising, and we're seeing some crucial action around the resistance levels. 💎Currently, #DRIFTUSDT is holding firm near key resistance at $0.52. If the price breaks above this level convincingly, price could see a strong breakout, with targets initially at $0.55, followed by the significant $0.643-$0.6850 range. These levels mark the all-time highs (ATH) for DRIFT, and price expect heavy profit-taking around these heights. 💎On the flip side, there's solid support around $0.42-$0.40. This zone is crucial—bulls need to defend it to maintain the momentum and fuel a breakout to the upside. 💎Volume are picking up again, signaling renewed interest and active participation. Trade smart, Paradisers! Stay focused, patient, and disciplined. This is the only way you will make it far in your crypto trading journey. Be a PRO! MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise_Jack
4
Gold price drifts lower amid elevated US bond yields, Fed rate c•Gold price ticks lower on Monday following the post-NFP price action whipsaw. •Elevated US bond yields act as a tailwind for the USD and exert pressure on the XAU/USD. •A softer risk tone should help limit deeper losses as the focus shifts to the US inflation data. Gold price (XAU/USD) staged a goodish intraday recovery of around $40 from over a two-week low touched in the aftermath of the better-than-expected monthly employment details on Friday, albeit lacked any follow-through. The momentum ran out of steam near the $2,064 region amid the uncertainty about the Federal Reserve's (Fed) rate-cut trajectory, which, in turn, held back traders from placing aggressive directional bets around the non-yielding yellow metal. The incoming US economic data pointed to a still-resilient economy, which, along with hawkish remarks by Fed officials, dashed hopes for a more aggressive policy easing by the central bank. This remains supportive of elevated US Treasury bond yields, which act as a headwind for the US Dollar (USD) and exert downward pressure on the Gold price during the Asian session on Monday. That said, a softer risk tone might help limit losses for the safe-haven XAU/USD. Concerns about a slow economic recovery in China, along with geopolitical risks, weigh on investors' sentiment, which is evident from a fresh leg down in the US equity futures. Traders might also prefer to wait for the release of the US consumer inflation figures on Thursday to confirm the next leg of a directional move for the Gold price. This makes it prudent to wait for strong follow-through buying before positioning for the resumption of a one-week-old downtrend. Daily Digest Market Movers: Gold price is undermined by reduced bets for aggressive Fed rate cuts •Investors further scale back their expectations for an imminent shift in the Federal Reserve's policy stance following the release of a robust December monthly US jobs report on Friday. •The US economy added 216K new jobs last week as compared to 170K expected, while the unemployment rate held steady at 3.7% vs. consensus estimates for an uptick to 3.8%. •Adding to this, US Factory Orders surprised to the upside and grew more than expected in November, by 2.6%, after declining 3.4% in October (revised slightly up from -3.6%). •Separately, the Institute for Supply Management (ISM) survey indicated that the US services sector, which accounts for more than two-thirds of the economy, slumped last month. •The ISM's Non-Manufacturing Index dropped to 50.6 in December – the lowest reading since May – and the employment sub-component plunged to 43.3 – the lowest since July 2020. •Dallas Fed President Lorie Logan noted that if the US central bank does not maintain sufficiently tight financial conditions, there is a risk that inflation will pick back up, reversing progress. •This comes after Richmond Fed President Thomas Barkin last week expressed confidence that the economy is on its way to a soft landing and said that rate hikes remain on the table. •The yield on the benchmark 10-year US government bond holds steady above the 4.0% threshold, which acts as a tailwind for the US Dollar and is seen undermining the Gold price. •The markets, however, are still pricing in a greater chance of the first interest rate cut by the Fed at the March meeting and a cumulative of five 25 basis points (bps) rate cuts for 2024. •China's economic woes, along with an escalation of tensions in the Middle East, could lend some support to the safe-haven XAU/USD ahead of the US consumer inflation figures on Thursday. •Lebanese militant group Hezbollah sent a barrage of rockets into northern Israel in what it called a “preliminary response” to the assassination of Hamas senior leader Saleh al-Arouri on Tuesday. •The markets react little to an agreement between House Speaker Mike Johnson and Senate Majority Leader Chuck Schumer on topline spending level, which breaks the deadlock to avoid a shutdown. Technical Analysis: Gold price seems vulnerable, multi-week low around $2,024 area holds the key From a technical perspective, any subsequent slide is likely to find some support near the $2,030 level ahead of Friday’s swing low, around the $2,024 area. Some follow-through selling will be seen as a fresh trigger for bearish traders and drag the Gold price to the 50-day Simple Moving Average (SMA), currently around the $2,012-2,011 area. This is followed by the $2,000 psychological mark, which if broken should pave the way for a further near-term depreciating move. On the flip side, momentum beyond the $2,050 immediate hurdle might continue to confront stiff resistance near the $2,064-2,065 area ahead of the $2,077 zone. A sustained strength beyond the said hurdles might prompt a short-covering rally and allow the Gold price
OANDA:XAUUSDLong
by sniper_2022
Drift Patterns: Valuable and Underappreciated CL1 Hourly Chart Before getting to the main body of the post I want to make a point. One of the most important advantages for a non-institutional trader is the ability to step away. If markets are overly volatile, take some time off. If you feel compelled to trade, significantly reduce position size as your risk management levels will need to be widened. And, it's highly likely that your fills are going to be terrible. I know, I know…. There are many touting their ability to nail the turns. That dynamic hasn't changed since the 80s when I began trading and probably has existed as long as there have been markets. But, if you don't see a brokerage statement it didn't happen. If it did happen (it didn't) you would still need to know the anatomy of their trades, how much risk, how much reward, what happened between entry and exit and so forth, to make a reasonable assessment. One of the most powerful but under-appreciated categories of patterns are the drift patterns. • Flags, pennants and small lateral trading ranges all fall into this category. • The patterns are fractal, that is, they appear across all time frames. • Small drift patterns are extremely common across all trending markets. • They are important because their completion reaffirms the underlying trend. • The manner in which they develop, for instance, the slope and extent of the decline, can often offer clues as to the market's strength. • Active traders can use the breakouts of the pattern to enter or add positions in clearly trending markets. Most trends unfold in a push - drift - push pattern, sprinting quickly in the direction of the trend, accruing a short term overbought or oversold, and then drifting counter to the sprint. • These patterns "drift" against the prevailing trend, alleviating short term overbought or oversold conditions. • Think of the drift as a "pause that refreshes." • It is important that the market DRIFT. The best examples contain overlapping price ranges (in whatever perspective you are working in) and don't typically retrace much of the prior sprint. • Volume will generally decline throughout the pattern, particularly if the pattern builds over 5-10 periods. • The best examples have substantial range overlap from day to day. To be entirely fair, the classic literature: • Requires a sharp move, or a flag pole for the pattern to fly from. • A decline in volume as the pattern builds. • The pattern lasts no more than 10-15 bars. • Suggests that the pattern will generally occur about midrange in a trend move. In my experience, finding drift patterns that fill all these "requirements'' is difficult. My personal approach minimizes the requirements. As long as the pattern occurs after a decent thrust and then drifts against the prevailing trend, I can use it to develop either an entry to the prevailing trend or simply as a simple validation of the underlying trend. • Importantly, the pattern is typically better defined in the chart of one perspective lower. For instance, weekly and daily, or daily and hourly. • I have included a daily chart. The daily defines the trend and you can easily identify the drifts. • I have also included an hourly chart. You can clearly see the potential entry points. • Like any other trade, risk management stops are a must. Do your homework. Spend a few weeks learning to identify these patterns on your charts. Then spend more time devising entries and risk management parameters around the pattern. In future posts I will show how to use drift patterns to enter after a market breaks out from a trading range or a pattern. Good Trading: Stewart Taylor, CMT Chartered Market Technician Shared content and posted charts are intended to be used for informational and educational purposes only. The CMT Association does not offer, and this information shall not be understood or construed as, financial advice or investment recommendations. The information provided is not a substitute for advice from an investment professional. The CMT Association does not accept liability for any financial loss or damage our audience may incur.
NYMEX:CL1!Education
by CMT_Association
6