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Crypto exchange Coinbase has teamed up with AI giant Perplexity to provide added utility for its customers. Thanks to this partnership, traders on the platform will be able to access real-time data to make more informed decisions while trading. Coinbase Taps Perplexity AI For Trading Utility On Exchange In an X post, the exchange’s CEO, Brian
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Hedera is poised to recover from recent lows. Improvements in overall market sentiment signal that HBAR buyers are beginning to regain control.
Key technical indicators are now pointing to a steady uptick in demand for the token, hinting at a possible price rebound.
HBAR is showing early signs of recovery as technical indicators point to investors increasing their buying activity. For example, in recent sessions, the altcoin’s Balance of Power (BoP), which measures the strength of buyers versus sellers, has shifted in favor of the bulls. At press time, HBAR’s BoP is positive and in an uptrend at 0.21.
This indicates that HBAR buyers dominate the market and show stronger control over price action than sellers. It hints at the potential for a sustained upward move in the asset’s price.
Further, HBAR’s rising On-Balance Volume (OBV) confirms the growing buying pressure and positive momentum in the spot markets. As of this writing, the indicator is at 38.66 billion.
The OBV measures buying and selling pressure by tracking cumulative trading volume based on whether prices close higher or lower. When OBV climbs this way, it indicates that volume is flowing into the asset on up days, suggesting increasing demand and potential for a price rise.
The steady rise in HBAR’s Relative Strength Index (RSI) reinforces the growing bullish momentum. Currently sitting at 52.53 and climbing, the indicator signals increasing buying pressure and a potential continuation of the upward trend.
The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100, with values above 70 suggesting that the asset is overbought and due for a price decline. Conversely, values under 30 indicate that the asset is oversold and may witness a rebound.
HBAR’s RSI reading indicates that the bulls are gradually regaining market dominance, which would drive up its value in the near term. If this continues, HBAR could break above the $0.20 price mark to trade at $0.23.
However, if selling activity intensifies, HBAR could resume its decline and break below $0.19. If bearish pressure strengthens, the altcoin could fall toward $0.12.
The post HBAR Shakes Off Recent Losses as Surging Demand Signals Possible Breakout appeared first on BeInCrypto.
Ripple’s XRP has gained 3% in the last 24 hours, riding the wave of renewed optimism in the broader cryptocurrency market.
While the increase may appear modest, underlying technical indicators suggest the XRP token rally has more room to run. This analysis holds the details.
XRP has successfully broken above a descending trendline, overcoming a key resistance level that had capped its upside since the end of April. This move signals a trend reversal and puts XRP in a favorable position for further gains.
Readings from XRP’s Relative Strength Index (RSI) support this bullish outlook. At press time, the momentum indicator is at 54.11, noting a steady uptick.
The RSI indicator gauges whether an asset is overbought or oversold. It ranges from 0 to 100, with readings above 70 typically signaling overbought conditions and a potential price decline. Conversely, values below 30 suggest the asset is oversold and may be due for a rebound.
At 54.11 and climbing, XRP’s RSI indicates that buying pressure is strengthening. It also hints at the likelihood of more gains before the token becomes overbought.
Likewise, XRP’s Balance of Power (BoP) returns a positive value at press time, highlighting the bullish bias toward the altcoin. It currently stands at 0.86.
The BoP indicator measures the strength of buying versus selling pressure in an asset’s market. When it climbs this way, buyers dominate the spot markets. This indicates a potential bullish trend for the XRP token and suggests its upward momentum could continue.
XRP rests solidly above the descending trend line at $2.21. If demand strengthens and the breakout sees more bullish momentum, it could drive the token’s price past the resistance at $2.29.
A successful breach of this price level could drive XRP to $2.50.
However, if buying stalls and XRP’s retest of the breakout line fails, it could fall to $1.99.
The post XRP Breakout Signals Fresh Bull Run Could be Underway appeared first on BeInCrypto.
Although the Metaplanet stock price is facing strong selling pressure, Benchmark Equity Research has initiated a buy call with a target of 2,400 JPY, 50% up from the current levels. This comes amid the Japanese firm’s Bitcoin acquisition spree, which now holds 13,350 Bitcoins, becoming the fifth largest public-listed firm by BTC holdings. Despite the
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