The push to advance the digital currency ecosystem has taken a new twist. Reps. Tom Emmer and Ritchie Torres have introduced a new blockchain and crypto regulation bill directed at developers. Dubbed the Blockchain Regulatory Certainty Act (BRCA), this bill is the second time it will be introduced in Congress and clarifies the definition of money transmitters, which concerns developers. The BRCA Blockchain Bill: Key Highlight This bill aims to establish that developers who do not custody user funds are not money transmitters. Notably, it provides the necessary legal clarity to position the United States as the top hub for developers. “If you don’t custody consumer funds, you aren’t a money transmitter. Plain and simple,” Congressman Emmer said in an official statement. “The longer we delay this commonsense clarification, the greater the risk that this transformative technology is pushed overseas, harming American investors and innovators.” Providing more context, the lawmaker… Read More at Coingape.com
Dogecoin (DOGE) price is flashing the same bullish signal it did in 2024, which preceded a staggering 280% rally for DOGE within months. If history rhymes and this bullish signal triggers an uptrend for the largest meme coin, it could explode to $0.50.
DOGE value today stands at $0.18 with a notable 4% gain in 24 hours. For it to surge to $0.50, it would have to record an over 170% price gain, and analysts believe that this rally is plausible.
Dogecoin Price Eyes $0.50 as it Flashes 2024 Bull Signal
Dogecoin price is following the same trend that it did in mid-2024, according to analyst Kamran Asghar on X. The analyst noted that at the time, DOGE formed a bullish divergence, whereby the price dropped as the RSI rose. This formation usually suggests that the selling pressure is weak, and buyers might soon regain control of the trend and push the prices higher.
Dogecoin has created another bullish divergence after the price tanked earlier this month, but the RSI failed to create a new low. This might suggest that the ongoing selling activity that has pushed this top meme coin lower is weak, and that buying pressure might surge again. Kamran anticipates that the price could surge to as high as $0.50.
DOGE/USDT: 1-day Chart
Meanwhile, another analyst dubbed Dynamite trader on X has supported this Dogecoin price forecast, and also anticipates that this meme coin is on the verge of a bull run. This analyst also identified several bullish divergences on the daily price chart that occurred whenever the 1-day moving average (MA) crossed above the 1-week MA.
Every time the MA made a bullish crossover, as a divergence appeared, a rally ensued. Recently, this pattern was formed again, and per the analyst, this is a bullish signal that might push DOGE to $0.90.
Dogecoin price chart
These two chart patterns indicate that Dogecoin price might lead a broader market recovery and possibly clinch all-time highs in the coming months.
Dogecoin Open Interest Surpasses $2B
Dogecoin’s open interest has surpassed the $2 billion mark for the first time in nearly one month, according to data from Coinglass. Despite the recent retracement in price, the OI has not faltered and has instead been making a slow but gradual ascent, which is supporting the bullish outlook towards this top meme coin.
Dogecoin Open Interest
Meanwhile, Dogecoin’s funding rate continues to increase on the positive side, indicating that long traders are willing to pay a higher fee to open and maintain their long positions. This further adds weight to the bullish thesis.
Therefore, the solid technical outlook towards Dogecoin price, as well as the bullish data from the derivatives market, indicates that this meme coin is on the verge of a rally. One of the most likely targets for DOGE to hit in the near term is $0.50, which is attainable if history rhymes and it repeats the late 2024 bull run.
In the ongoing market uncertainty, Stellar’s native token, XLM, appears bearish and is poised for a price decline due to the bearish price action it has formed on the four-hour timeframe. At the beginning of March 2025, XLM experienced impressive upside momentum, but it later formed a bearish rising wedge pattern.
XLM Technical Analysis and Upcoming Levels
According to expert technical analysis, the asset is currently experiencing a price decline and is at a crucial support level. Based on recent price action and historical patterns, if XLM fails to hold the $0.288 level and closes a 4-hour candle below it, the price could decline by 15% to reach the $0.23 level in the coming days.
In addition to this bearish pattern, XLM’s price began falling after hitting a descending trendline with a strong history of price reversals. However, the asset has formed a bearish engulfing candlestick pattern, which is pushing XLM’s price lower.
Source: Trading View
Current Price Momentum
At press time, XLM is trading near $0.288 and has recorded a 2% price drop in the past 24 hours. Despite the decline, its trading volume has spiked by 25%, indicating increased participation from traders and investors compared to previous days.
Bearish On-Chain Metrics
This bearish price action has been further reinforced by recent activity from whales and long-term holders, as reported by the on-chain analytics firm Coinglass.
$1.40 Million Worth of XLM Inflow
Data from spot inflow/outflow reveals that exchanges have witnessed an inflow of over $1.40 million worth of XLM tokens in the past 24 hours, suggesting a potential sell-off by these holders, which could lead to a price decline in the future.
$3.30 Million Worth of Bearish Bet
In addition to the activity of long-term holders, traders are also following the bearish market sentiment, as they are strongly betting on the downside. Data shows that traders are currently over-leveraged at $0.305 on the upper side and $0.286 on the lower side, both on the verge of liquidation. At these levels, traders have built $3.30 million and $611K worth of short and long positions, respectively.
Source: Coinglass
When combining all these on-chain metrics with technical analysis, it appears that bears are currently dominating, and XLM’s price could see a further decline in the coming days.
The post XLM Price Crash Incoming? Bearish Pattern Spotted appeared first on Coinpedia Fintech News
In the ongoing market uncertainty, Stellar’s native token, XLM, appears bearish and is poised for a price decline due to the bearish price action it has formed on the four-hour timeframe. At the beginning of March 2025, XLM experienced impressive upside momentum, but it later formed a bearish rising wedge pattern. XLM Technical Analysis and …
The US job data by the Labor Department showed that the nonfarm payrolls increased by 177,000, down from 228,000 recorded in the prior month. However, it still comes in hotter than Wall Street expectations, putting pressure on investors’ hopes for riskier assets like Bitcoin and altcoins. Notably, the unemployment rate stayed steady at 4.2%, with the overall market now eying what the Fed’s move will be with their rate cut plans.
US Job Data Weighs On Crypto Market Sentiment
The latest Labor Department report showed that the US nonfarm payrolls came in at 177,000 in April, up from the market expectations of 133,000. However, it marks a sharp decline from the robust 228,000 figure recorded in March.
On the other hand, the unemployment rate remained unchanged at 4.2% from the prior month and came in tandem with Wall Street expectations. This latest US job data indicates that the ongoing macroeconomic pressure, like the US-China trade war and other factors, has weighed on the economy.
Despite that, this hotter-than-expected job data could be a bearish sign for Bitcoin and altcoins. Now, the market eagerly awaits cues from the central bank ahead, especially as Donald Trump also warned of a slowing economy if the central bank doesn’t go for a rate cut decision.
Bitcoin Rally To Stall?
BTC price today has continued to move upward, soaring past the $97K mark again just after the US job data. Interestingly, investors seem to view the jobs report as a modest positive, as the payroll growth, although above expectations, shows a slowdown from the previous month’s strong numbers.
Furthermore, it is also evidenced by the US Dollar Index Futures going down by 0.42% to $99.635 following the release. However, the US 10-year Bond Yield rose more than 1.3% at the same time. Talking about the Fed rate cut plans, it appears that the central bank will keep the interest rate unchanged at their upcoming meeting next week, the CME FedWatch Tool showed.
Source: CME FedWatch Tool
However, the recent on-chain metrics and market trends hint that Bitcoin may continue to move upward in the coming days. For context, the US Bitcoin ETF has continued to see inflows, after a brief pause till mid-April, indicating a renewed investors’ confidence.
Meanwhile, investors should still exercise caution, given the ongoing market uncertainties and Trump tariff tension. Besides, it is also to be seen if BTC could hold the bullish momentum ahead, with major events awaiting in the coming week.
