Bitcoin

Decentraland (MANA), up nearly 60%. Will bulls break $1.5 next time?

Decentraland has posted some of the greatest gains in crypto in the past day. It is consolidating now and could see further upward movements in the next week. Here’s what you need: MANA has rallied by nearly 60% after crashing at the start of the week The coin has now surpassed the $1 mark Bulls…

Decentraland has posted some of the greatest gains in crypto in the past day. It is consolidating now and could see further upward movements in the next week. Here’s what you need:

MANA has rallied by nearly 60% after crashing at the start of the week
The coin has now surpassed the $1 mark
Bulls will be aiming to test $1.5 over the next few days following consolidation this weekend.

Data Source: Tradingview

Can MANA beat the odds to reach $1.5?

We expected that the market would rebound slightly following this week’s crash. However, MANA seems to have just exploded. After adding nearly 60% in value over the last 24 hours, the coin is now trying to consolidate above the crucial $1 mark.

So far things look good. Although some investors are concerned that the rally might be reversible, if the price remains above $1, there will be enough buyer optimism to propel MANA towards $1.5. RSI and other momentum indicators suggest that MANA’s recent run may not be over.

But there are important downside risks to be aware of. MANA has outperformed other markets in its recovery. MANA could suffer a significant loss if crypto falls in the next few days. This is a stark contrast to the losses suffered by other major coins. Also, the metaverse token still remains pressured below its 50- and 200-day EMAs. These points are strong upward resistance and will make $1.5 unlikely in the near term.

What to do with MANA now?

It is best to simply watch. Even though the coin may test $1.5, there are still significant downside risks.

If the metaverse coin can maintain a price of $1 at the beginning of trading on Monday then you will be able to buy and cash out at $1.5.

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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.”