Bitcoin

Elrond (EGLD), Is Slowing down the Crypto Ranking – Here’s Why the Trend Will Keep

Elrond (EGLD) has been sliding down the crypto pecking order. The market cap has fallen due to the increased pressure on the price. Even though Elrond (EGLD) is still in the top 50, the coin could fall out soon if the current downtrend continues. The downward pressure is not over, but we think it’s just…

After hitting all-time highs of $560 last year, Elrond (EGLD) has spiralled downwards by over 60%.
Although we saw some recovery at the tail end of 2021, the general trend for the coin has been downwards.
A look at technical indicators will show that this pressure isn’t about to ease anytime soon.

Data Source: Tradingview.com

Elrond (EGLD) – Price prediction and analysis

At the time of writing, Elrond (EGLD) was trading at $214.74. The token is up about 5% for the day, but it’s still about 13% down over the last 7 days. Although EGLD has managed to sustain gains above the psychologically important $200 mark, it is still trading lower than its 25- and 50-day moving averages.

We also noted that the price is lower than the 61.8% Fibonacci retracement. This means that the bearish trend seems to be in full force. Unless the coin is able to rally and break above $245, it is likely that the price action will remain in the red in the near term.

Should you buy Elrond (EGLD)

It is not the right time to purchase Elrond (EGLD) right now. Don’t let this discourage you. This is a decent coin that has the potential to deliver long-term value for investors.

However, we believe the price will remain bearish so it is best to wait for a further drop to get a better deal. Elrond (EGLD), a short-term play that is ripe for those who are looking for improved crypto market sentiment, is also available.

Bitcoin

Bitcoin Demand Shows Signs of Cooling as Whale and ETF Purchases Halve: Cryptoquant

Bitcoin demand growth is decelerating after a rally toward $112,000, with key indicators signaling a potential slowdown phase, according to a new Cryptoquant Institutional Insights report. Profit-Taking Dominates Futures Market Amid Bitcoin Slowdown Cryptoquant’s analysis reveals bitcoin spot demand continues expanding but at a sharply reduced pace…
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Bitcoin

Bitcoin Price Watch: Bulls Eye $108K as Momentum Builds Across Lower Timeframes

Bitcoin is trading at $105,971 to $106,032 over the last hour, with a market capitalization of $2.10 trillion and a 24-hour trading volume of $21.88 billion. During the past 24 hours, the price has fluctuated between $104,004 and $106,450, reflecting a narrow intraday range that coincides with ongoing technical indecision across broader timeframes…
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Bitcoin

XCN defies Bitcoin and Ethereum slump with 97% spike

Onyxcoin (XCN) has risen 97% in the past 24 hours as altcoins enjoy massive buying pressure. The XCN price bucks the trend that saw Bitcoin and Ethereum down after notable gains a day earlier. Tariffs and other market conditions weigh on investor sentiment. Onyxcoin (XCN) has defied a dip for Bitcoin, Ethereum, and top altcoins…

Onyxcoin (XCN) has risen 97% in the past 24 hours as altcoins enjoy massive buying pressure.
The XCN price bucks the trend that saw Bitcoin and Ethereum down after notable gains a day earlier.
Tariffs and other market conditions weigh on investor sentiment.

Onyxcoin (XCN) has defied a dip for Bitcoin, Ethereum, and top altcoins with an impressive 97% over the past 24 hours.

In a price rally that put it on top of the daily gainers’ list, XCN shot up to an intraday high of $0.017.

The performance bucks the downward pressure that has seen Bitcoin (BTC) and Ethereum (ETH) pare gains from a day ago with dips below $80k and $1.5k, respectively.

XCN price performance

The XCN token’s standout performance sees it outpace Flare, Kaspas, and Walrus, among other notable gainers.

According to data from CoinMarketCap, XCN is currently trading at $0.017, with its volume up 1,230%.

The token’s market, though tiny at $531 million, is up 97% and puts Onyxcoin in the top 100 by market cap.

XCN has flipped Floki and CORE, which currently rank 100th and 99th by market cap, respectively.

Onyxcoin’s massive spike comes despite a broader risk market downturn in the past 24 hours.

BTC, ETH, and other coins’ dip has seen the global cryptocurrency market cap drop by 3.9% to $2.52 trillion.

Volume is down 20% to about $127 billion as crypto mirrors losses on Wall Street.

Overall market outlook

Crypto and the stock market rose sharply on Wednesday after US President Donald Trump changed his tariffs stance.

His announcement of a 90-day pause sent risk assets skyrocketing, with Bitcoin’s price breaking to above $82k.

S&P 500 and the Dow Jones Industrial jumped, rising by historic single-day gains.

However, the S&P 500 and Dow opened lower on Thursday and looked to close lower with 3.2% and 2.4 %, respectively.

Dow was down more than 900 points.

On Thursday, Trump announced an additional 25% tariff on China, bringing this to 145%.

After excluding it from the 90-day pause, analysts say the trade war will continue to hurt optimism.

This looks to be the case as stocks sold off despite the latest inflation report that showed CPI dropped to 2.4% against an expected 2.6%.

While this sees many turn to the Federal Reserve for expectations of interest rate cuts, analysts are pointing to “sticky” prices and tariff impact for likely pressure on equities and crypto. Analysts point to a potential bull trap.

Peter Schiff said via a post on X:

“I’ve never seen such a mass selloff of US assets. The US dollar, bonds, and stocks are all getting killed. I can’t remember when the dollar lost 3.5% against the Swiss franc in one day. America’s ride on the global gravy train is about to come to a screeching halt. Buckle up.”