Cryptocurrency prices started the week well as traders and investors started to move back into the industry, pushing the total market cap of all coins to over $2.84 trillion. Bitcoin price jumped to $87,000 for the first time in over a week.

That rally led to more gains in the altcoin market. Loom Network token price jumped by 150%, while Boba Network (BOBA), Treasure (MAGIC), Aurora (AURORA), and Enjin Coin (ENJ) rose by over 40%. 

Bitcoin price formed a bullish pattern ahead of the rebound

Technicals suggest that Bitcoin price was slowly forming a highly bullish chart pattern ahead of the current rebound. The eight-hour chart below shows that it was forming a bullish pennant pattern, which is characterized by a vertical line and a symmetrical triangle. 

Bitcoin price also moved above the 50-period and 100-period Exponential Moving Averages (EMA), a sign that bulls are in control for now. Oscillators like the Relative Strength Index (RSI) and the Stochastic Oscillator have all pointed upwards.

Most importantly, Bitcoin formed an inverse head and shoulders pattern. Therefore, the coin will likely continue rising as bulls target the next key resistance level at $88,585, the neckline. 

A move above that level will indicate further gains, potentially reaching the psychological level at $90,000. A move below the support at $84,000 will invalidate the bullish outlook.

Read more: Bitcoin price prediction: BTC path to $300,000 revealed

Loom Network, Boba, Enjin, and Aurora tokens lead

The ongoing Bitcoin surge triggered more gains in the crypto market. Loom Network price soared to a high of $0.04930, its highest level since March 19, and 390% above the lowest point this year. This surge brought Loom’s market cap to $46 million. 

The risk, however, is that Loom has been accused of manipulation in the past. This explains why Binance decided to delist the token last year. Many other tier-1 exchanges have also avoided the token. As such, most trading now occurs on exchanges such as OrangeX, Hibt, Indodax, and CoinEx.

Boba Network price formed a God candle as it surged to a high of $0.1450, its highest point since February 26. It was up by over 115% from its lowest level; this year. 

Boba Network is a multi-chain layer-2 network that leverages the Ethereum and BSC Chains to offer more capabilities to developers. According to its website, it has handled over 50 million transactions over time. DeFi Llama data shows that Boba has a total value locked (TVL) of just $1.6 million, down from a peak of over $600 million a few years ago. Its DEX protocols handled just $89,000 in volume in the last 24 hours. Also, the network generated just $8 in fees in that period. 

The Enjin Coin price also surged as Bitcoin soared above $57,000. It jumped by over 35%, reaching a high of $0.1022, up by 72% from its lowest level this year. Most of Enjin’s trading was happening in exchanges like Binance, OKX, and Bithumb.

The Aurora token price also surged this week, reaching a high of $0.1105, its highest level since March 8. It soared by over 75% from its lowest level this year, and then pulled back to the current $0.09. 

Like Boba Network, Aurora has come under pressure in the past few years as is its total value locked plunged from a peak of over $600 million to just $12 million today. Aurora is one of the biggest players in the Near Protocol.

Some of the other top-performing tokens were Pocket Network, Treasure, Neiro on ETH, Bittensor (TAO), and Alchemy Pay (ACH).

The post Enjin, Loom, Bittensor, Boba Network, Aurora surges as Bitcoin price hits $87k appeared first on Invezz

The XRP price has formed a rare falling wedge chart pattern, pointing to a strong bullish breakout in the coming weeks. Ripple was trading at $2.1335, up by over 30% from its lowest level this month. This article examines the potential for a 60% surge in the Ripple price from its current level.

XRP price technical analysis

The daily chart shows that the XRP price has been in a strong downtrend in the last few months. It dropped from a high of $3.40 to the current $2.133. 

The coin has sent mixed signals in the past few months. It formed a head-and-shoulders pattern. This pattern is characterized by a head, two shoulders, and a neckline. It is one of the most popular bearish reversal signs.

When it moved below the neckline at $1.9563 earlier this month, many analysts predicted that it would push it to the next key support at $1, down by 48% from that level.

Recently, however, the coin has formed a falling wedge pattern, a highly bullish sign. This pattern consists of two descending and converging trendlines. A bullish breakout typically occurs when the two lines are about to intersect.

XRP price has also formed a bullish divergence pattern as the Percentage Price Oscillator (PPO) and the Relative Strength Index (RSI) have pointed upwards. This divergence is usually a highly bullish chart pattern.

Therefore, the coin is likely to experience a strong bullish breakout if it moves above the upper side of the wedge and the 50-day Exponential Moving Average (EMA). A move above that level will signal more gains, potentially to the year-to-date high of $3.4, which is about 50% above the current level.

The bullish XRP price forecast will become invalid if the coin tumbles below the key support level at $1.6110, its lowest point this month. Such a move will likely lead to further downside, with the next key point to watch being the psychological level at $1.

Potential catalysts for the Ripple price

XRP has numerous catalysts that may push its price higher in the long term. First, there are signs that the crypto market is bouncing back as Bitcoin price surged above $87,000 for the first time in weeks. It has even formed a bullish pennant pattern, indicating further gains in the near term, with chart patterns suggesting a surge to $300,000. 

Altcoins like XRP and Cardano often do well when Bitcoin is in a strong rally. For example, XRP jumped to $3.4 earlier this year as Bitcoin peaked at a record high.

Second, XRP price will do well as the recent end of the SEC vs Ripple case leads to more partnerships that will boost the XRP Ledger network. The most notable deals will be with American financial services companies that will help it become a viable alternative to SWIFT Network. 

Ripple already has partnerships with companies such as Bank of America, Santander, MoneyGram, American Express, and Tranglo. These deals will accelerate now that the SEC has ended its legal issues with the company.

Furthermore, the Ripple USD (RLUSD) stablecoin is performing well, with its market capitalization nearing the $300 million milestone. Ripple hopes that this stablecoin will be a good revenue generator and a top supporter of the ecosystem. Just recently, Ripple Labs added the RLUSD stablecoin into its payment network.

The XRP price is also expected to perform well as more developers adopt its network as a viable alternative to Ethereum and Solana. It has already attracted developers such as Sologenic, Coreum, Salute, and XPmarket. This growth could help bring more value to the XRP network.

The post XRP price prediction: Is Ripple preparing for a 60% surge? appeared first on Invezz

Crypto prices have started the year on a strong note, with Bitcoin surging to over $87,500 and Ethereum rising to $1,340. The total market cap of all cryptocurrencies tracked by CoinMarketCap jumped to $2.76 trillion. This article provides a forecast for top tokens like Stellar Lumens (XLM), Decentraland (MANA), and Stacks (STX).

Stellar price technical analysis

Stellar is one of the top players in the crypto market. It is often seen as Ripple’s cousin because it was established by Jed McCaleb, one of Ripple Labs founders. Like Ripple, it is also in the cross-border payment industry.

The Stellar price often follows that of XRP, meaning it may track its performance. As we wrote earlier, there is a likelihood that the XRP token will jump by as much as 50% in the coming weeks.

Stellar price has formed a falling wedge pattern on the daily chart. As shown above, the upper side of this pattern connects the highest swings since January 16. Its lower side links the lowest swings since December 20th last year. 

These two lines are now about to intersect, as the XLM price has risen above the upper boundary. Oscillators like the Relative Strength Index (RSI) and the Stochastic Oscillator have all pointed upwards. 

Therefore, the token will likely continue rising, with the next point to watch being at $0.4041. To get this target, we measured the widest part of the falling wedge pattern, and then the same distance from the wedge’s upper side. This performance will be confirmed if the price moves above the 50-day moving average at $0.2670. 

A drop below the lower side of the wedge at $0.1974 will invalidate the bullish forecast and point to more downside, potentially to $0.10.

Decentraland price analysis

Decentraland is one of the most popular players in the gaming and metaverse industry. MANA, its token has bounced back in the past few weeks, moving from a low of $0.1898 earlier this month to the current $0.3361.

The token formed a giant double-bottom pattern at $0.2115, its lowest swing in August last year and April. A double bottom is one of the most bullish patterns in technical analysis.

The token has moved above the 50-day moving average, while the Relative Strength Index (RSI) has pointed upwards. It also formed an inverse head-and-shoulders chart pattern, a popular bullish reversal sign. 

Therefore, the coin is likely to continue rising as bulls target the next key psychological point at $0.50, which is approximately 60% higher than the current level. A drop below the psychological point at $0.25 will invalidate the bullish outlook.

Stacks price analysis

Stacks, a popular Bitcoin sidechain, has performed well over the past few days, with its token showing signs of stabilizing at $0.5850. It has risen slightly in the past four straight days, as the total value locked (TVL) in the network rising by 25% in the last seven days to $167 million. 

The STX token has formed a bullish divergence pattern as the Relative Strength Index (RSI) and the MACD indicators rising. It has also formed a double-bottom pattern at $0.5650.

Therefore, the token will likely keep soaring as bulls target the next key resistance level at $1, which is about 45% above the current level. A drop below the key support at $0.5650 will invalidate the bullish view.

Other crypto coins to watch

There are other crypto tokens showing strong potential this week. Some of these ones are The Sandbox (SAND), Injective (INJ), NEAR Protocol (NEAR), Fartcoin, and Algorand. 

The post Crypto price predictions: Stellar (XLM), Decentraland (MANA), Stacks (STX) appeared first on Invezz

Chipotle Mexican Grill stock price has crashed in the past few months, moving from a high of $66.6 in December to the current $48. It is hovering near its lowest level since January 29 last year. This article explains why the CMG share price is on the cusp of a bearish breakdown after forming a double-top pattern. 

Chipotle stock price is on the verge of more downside

The weekly chart shows that the CMG share price has been in a strong downward trend in the past few months. It initially peaked at $69.15 in 2024 and has struggled to move above that level.

Chipotle stock has formed a double-top chart pattern at $66.6 with a neckline at $48.20, its lowest level in August last year.

The stock has formed a bearish pennant pattern, a popular continuation sign. Additionally, it has fallen below the 50-week and 200-week Exponential Moving Averages (EMAs), indicating that bears are in control. The two lines are about to cross each other, forming a death cross pattern. 

Oscillators like the Relative Strength Index (RSI) and the Awesome Oscillator have all pointed downwards. Therefore, the Chipotle stock price will likely continue falling in the next few months. 

The initial CMG stock price target will be $44, along the ascending trendline that connects the lowest swings since March 2020. If this happens, the next point to watch being at $35.37, its lowest level in October last year. This target is about 26% below the current level. A move above the 50-week moving average at $54 will invalidate the bearish view.

CMG earnings ahead

Chipotle share price has crashed as concerns about the American economy continue. These concerns have continued rising after Donald Trump’s Liberation Day speech in which he announced his reciprocal tariffs on all countries. 

Before that, Trump announced a 25% tariff on all goods from Mexico, allegedly for its role in the fentanyl business. 

These tariffs means that Chipotle is now paying more money for its inputs since it sources about 50% of its avocados from Mexico. Other suppliers are from countries like Peru, Colombia, and the Dominican Republic. 

A company like Chipotle can only respond to these tariffs by increasing prices on products sold on its stores. The challenge is that a 25% hike will lead to lower sales. The company can also take some of these tariffs in its income statement, which will normally lead to a margin squeeze.

Further troubling for Chipotle is that consumer confidence in the US has continued falling in the past few months. A recent report by the Conference Board showed that confidence plunged sharply last month. 

Therefore, the upcoming Chipotle earnings will provide more color on its business and forward guidance. Wall Street analysts estimate that the company’s revenue rose by 9.5% in the last quarter. The most upbeat analyst see its revenue coming in at $3.08 billion. Chipotle Mexican Grill has a long record of beating analysts estimates. 

The average estimate for Chipotle’s earnings per share (EPS) is $0.28, up from the $0.27 it made last year. Analysts expect that its annual revenue will grow to $12.6 billion this year, followed by $14.3 billion in 2026. 

Wall Street analysts expect the Chipotle stock price to rise to $62.35, up from its current level of $ 48.70. These analysts cite its strong market share in the casual dining industry, and the fact that Scott Boatwright, its CEO, worked closely Brian Niccol, the previous CEO who joined Starbucks last year. 

The post Chipotle stock price double-top points to a crash ahead of earnings appeared first on Invezz

The SPDR Gold Trust (GLD) ETF continued its strong surge as gold price soared to a record high on Monday. It soared to a high of $313 in the pre-market session, bringing the year-to-date gains to 30%. It has jumped in the last four consecutive months, the longest streak since last year.

Gold price has surged to a record high

The GLD ETF jumped on Monday as the price of gold continued its strong rally. Gold jumped to a high of $3,400, representing a significant increase from its trading price of $2,350 at the same period last year. 

Gold has jumped after media reports confirmed that Donald Trump was studying ways to remove Jerome Powell from the Federal Reserve. 

On Thursday, Trump expressed his frustrations from the Fed, arguing that he was always late when hiking and cutting interest rates. He blamed him for the inflation that happened after the pandemic, and for not cutting rates fast enough.

In a separate statement, Kevin Hassett, a senior economic official at Trump’s White House, confirmed that the president was studying whether he could remove the Fed Chair.

Analysts believe that the president will attempt to do that since he is in the process of applying substantial executive power in this term. He has even fired several officials like inspector generals who are normally protected by law.

Jerome Powell believes that his job is safe because he has not done anything wrong to be fired. And if he were fired, there a chance that the Supreme Court would reinstate him as the Fed Chair. This explains why PolyMarket odds that Trump will remove Powell as chair have dropped to 18% from last week’s high of 22%.

The GLD ETF has also soared after Donald Trump’s tariffs earlier this month. These tariffs will further isolate the US.

Why Trump’s firing of Powell would be bullish for gold price 

If Trump fires Powell and the Supreme Court allows it, it would benefit gold and hurt the US dollar greatly.

It would benefit gold because of its role as a safe-haven asset. Gold has a long heritage as a safe haven, which explains why central banks and most institutional investors have accumulated it in the past few years.

Gold would do well as Powell’s firing would ensure that all other presidents have a chance to replace a Fed official who keeps rates higher for longer. 

History shows that the currencies of countries without a central bank independence don’t do well. A good example of this is the Turkish lir, which has plunged to a record low after President Erdogan removed the guardrails that protected the central bank governor from political interference.

Fears that Trump will fire the Fed Chair explains why the US dollar index continued plunging, reaching a low of $98, down by 11% from its highest level this year. It has crashed to its lowest point since March 2022. 

Analysts believe that central banks and other institutions will continue dumping the US dollar and US government bonds. 

GLD ETF stock price analysis

The weekly chart indicates that the GLD ETF has continued to soar in the past few months. It has remained above the 50-week and 100-week moving averages, a sign that its trend is gaining steam.

The SPDR Gold Trust ETF’s oscillators have continued soaring. The Relative Strength Index (RSI) has moved to the extreme overbought point at 80. Also, the Awesome Oscillator has moved above the zero line. 

Additionally, the Percentage Price Oscillator (PPO), a widely used momentum indicator, has continued to rise this year. Therefore, the GLD ETF will likely continue rising as bulls target the psychological point at $350. A drop below the support at $280 will invalidate the bullish outlook.

The post Here’s why the GLD ETF stock has surged to a record high appeared first on Invezz