Market Structure Signals Growing Vulnerability

According to @Crypto_TheBoss in a recent market update, Bitcoin dominance has slipped below the 60% support level, signaling a notable change in market dynamics. This breakdown points to a weakening grip for Bitcoin as capital flows begin to diversify into other areas of the crypto market. Moves like this often act as early signals of potential altcoin strength, as traders look beyond Bitcoin for opportunities.

The analyst noted that Bitcoin dominance has bounced from the 58% area, showing that some buying pressure emerged to defend the level. This bounce highlights temporary stability, but it does not yet confirm a recovery. Instead, it reflects a cautious response from the market, where buyers are attempting to prevent further declines while broader sentiment remains uncertain.

Looking ahead, @Crypto_TheBoss explained that if the 58% level fails to hold, Fibonacci retracement zones could act as key areas of support. Losing this support would deepen the bearish outlook and likely accelerate capital rotation into altcoins, shifting momentum away from Bitcoin’s leadership in the market.

Positive And Negative Technical Signals

@Crypto_TheBoss went on to highlight that the bounce from support shows buyers stepped in and temporarily halted the downside pressure. This kind of reaction often reflects how market participants are still willing to defend critical levels, even when sentiment leans toward caution. By holding above support, Bitcoin dominance was able to avoid a deeper immediate drop, though uncertainty still lingers.

The analyst further emphasized that Fibonacci levels are widely used in technical analysis as reliable support and resistance zones. For Bitcoin dominance, the Fibonacci structure provides a technical roadmap, guiding market participants on where the price may either stall, reverse, or accelerate if another leg lower unfolds.

In a negative scenario, @Crypto_TheBoss cautioned that losing the 58% support could trigger stronger selling pressure, pushing dominance further down. A breakdown below this level would not only signal structural weakness but also reinforce the narrative of Bitcoin losing its edge in market control. 

Such a scenario is often interpreted as a sign of capital rotation into altcoins. As Bitcoin dominance decreases, investor attention tends to shift toward alternative cryptocurrencies, sparking renewed activity and potentially driving sharp moves in the altcoin sector. This rotation could set the stage for fresh momentum in altcoins, particularly if Bitcoin struggles to quickly reclaim its lost ground.

What is happening to Bitcoin?

For quite some time Bitcoin has demonstrated no sign of positive dynamics. Since its all-time high in December 2017 (when 1BTC was worth almost $20 000) Bitcoin has lost over 80% of its value by December 2018. In February 2019 the world’s premiere cryptocurrency was traded at $3 400, which was just as low as in August 2017. The last time it took Bitcoin five months (August – December 2017) to get from $3 400 to $19 500. Five months have already passed since February, yet Bitcoin has ‘only’ reached the $12 800 mark so far*. Obviously, it takes BTC longer to reach the last record. Yet, the question is not how long will it take Bitcoin to grow, but rather how high will Bitcoin go this time and whether it is at all possible that it will reach a new high?

How to trade Bitcoin?

So, what does it mean for you as a trader? The most recent price surge — that has been in action for three months already — has created numerous trading opportunities and can be expected to create some more.
With Bitcoin prices as volatile as they come, it is hard to predict future performance of the asset. However, you can turn to technical analysis indicators to make an informed decision when trading CFDs on Bitcoin on the IQ Option trading platform.
All signals mentioned above have been received on a 30D graph with 12H candles.

Bollinger Bands, a popular volatility indicator, point to the end of one high-volatility period and the beginning of another. According to the former, a trend reversal is also possible: the BTC price has bounced off the upper band and can either continue to move down or go back up.

According to the trend-following indicator ADX, the overall trend strength is diminishing. Positive momentum is now on a par with negative one. It can very well be that the negative trend overtakes the positive one after a prolonged period of uncertainty. This is, however, not set in stone.

Chande Forecast Oscillator, a momentum indicator created with the purpose of estimating the future asset price, states that the future asset price might lower than the present price of Bitcoin. The indicator is below the zero line, yet it is slowly going up.
More than that, in order to go even higher, the price action will have to pass the resistance level at $ 12 800, the threshold that has not been cracked yet.
All in all, the forecast is moderate to negative with two out of three indicators providing no clear sign of a strong trend. It is not certain, however, wether the Bitcoin price will rebound or not, as it might as well continue moving down. It should also be noted that no technical analysis indicator is capable of providing 100% accurate signals.
*Information regarding past performance is not a reliable indicator of future performance.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Trading cryptocurrencies is not appropriate for all investors and entails the risk of loss of capital. Read our Risk Disclosure.

Сообщение Bitcoin Technical Analysis for July 2019 появились сначала на IQ Option Broker Official Blog.

For a couple of months now Bitcoin has been showing record low volatility and the lack of momentum leaves crypto traders in tension, waiting for signs of a new rapid movement of the first cryptocurrency. The overall hype around Bitcoin has gone down, but what if the current uncertainty results in a strong upward trend? Or will the crypto price fall? Currently Bitcoin is traded at $9 300, but sooner or later a flat dynamic might turn into a trend or the opposite. Read the full article for a technical analysis of Bitcoin and make up your mind about it.

Since its low of $3 800 in the end of March, Bitcoin made it to $10 000 in two months (around the 1st of June) and has been fluctuating between $8 500 and $10 000 ever since. June and July were months of uncertainty and there are multiple forecasts with traders waiting for Bitcoin to break the support or resistance levels. 

The previous trend was positive and Bitcoin doubled in price, could the current consolidation result in the growth of the asset? The overall positive tone of the stock market might create the basis for it, but it is not set in stone. 

The recent growth of Bitcoin created many trading opportunities for crypto traders and the current events may result in even more potential chances. Let’s turn to technical indicators and see what they have to offer. For all indicators, examples of a price chart for 30 days with candles of 12h interval are being used. 

RSI + Bollinger Bands

First on the list: a popular combination of RSI and Bollinger Bands. Bollinger Bands show that the asset has crossed the upper band and currently moves upwards, while RSI gives a signal that the asset is overbought. This could mean that the starting positive trend may reverse and turn into a diminishing one, as asset prices do not normally stay long in the overbought or oversold areas. 

Chande Forecast Oscillator

This momentum indicator may be used on its own to potentially predict the future price direction. As it is obvious from the chart, the indicator was showing price growth for some time, but now it could possibly reverse and drop below the 0 value of the indicator. Only time can tell what will actually happen.

ADX

ADX shows a bullish crossover with the trend strength slowly rising (the ADX line crossed the 20 value and tends up). Does this mean that Bitcoin could potentially gain momentum and break through the resistance level at $10 000 – $10 300? 

Though ADX shows a positive trend, other indicators point out the possible drop in price.  Even with the current drop in volatility, BTC stays one of the most traded assets and there is no doubt that soon the asset will surprise everyone with new records. Of course, it is important to study the market well before entering it and checking the signals with other indicators might be a good practice.

Finally, it is always important to note that past performance is not an indicator of future performance. It is important to remember that no indicator shows 100% accurate signals and that divergences may happen. 

The Bank of Canada took a significant step in exploring the technical feasibility of a digital Canadian dollar, proposing a specific system designed for a retail central bank digital currency (CBDC) focused on simple, everyday payments, according to a new research paper.

The central bank’s research team examined OpenCBDC 2PC, a model developed in collaboration with the Massachusetts Institute of Technology’s Digital Currency Initiative. This design prioritizes privacy, speed and decentralization by allowing users to hold digital funds directly, much like digital cash.

The new research comes after the Bank of Canada said it is shifting its focus away from a retail CBDC last year, saying that it was prepared if the people of the nation decide such a product is needed in the future.

Privacy issues

A major focus of the report is privacy, which isn’t a big surprise because CBDCs have sparked debate around the world, in part on concerns they could enable state surveillance of financial activity. Unlike cash, which is anonymous, a CBDC could theoretically allow a central authority to track every transaction.

The report suggested that the system separates personal identity from transaction data, allowing non-registered users to hold funds in self-custodied wallets. The users could then transact without sharing their identity with a bank or payment processor. Even for registered users, the central bank would not have access to identifying information or transaction histories.

The report goes further, proposing enhanced protection by potentially using cryptographic techniques such as zero-knowledge proofs to obscure transaction amounts from the core infrastructure. These features collectively offer a level of privacy that the authors say could exceed that of current electronic payment systems.

Bitcoin-like structure

In contrast to traditional banking systems, where money is stored in user accounts, the report suggests a design that uses “unspent transaction outputs” (UTXOs) — a structure more commonly associated with Bitcoin.

The system processes transactions in two steps: updating a core ledger and transferring funds from one user’s wallet to another. This approach supports real-time settlement and offers a higher degree of privacy from both banks and government institutions.

Challenges

While the report lays out a detailed technical solution to a potential digital Canadian dollar, it also identifies potential hurdles.

One of the main hurdles is that integrating the proposed architecture with existing retail payment infrastructure could require substantial technical upgrades, including in the way point-of-sale terminals handle digital cash-like transfers.

Additionally, while the system is scalable in theory, performance dips during audits and system recovery operations need further engineering work to meet production-grade standards.

The paper clearly states that this is not a commitment to launch a CBDC. However, the findings lay out a concrete technical foundation for what such a system could look like— one that balances user privacy, institutional control, and operational resilience.

Whether the central bank will implement it remains a question, given the controversy surrounding CBDC. However, the timing of the report could be right as Canada’s new prime minister, Mark Carney, was quoted in his 2021 book as a supporter of CBDCs.

“The most likely future of money is a central bank stablecoin, known as a central bank digital currency or CBDC,” he wrote in his book.

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Given the heightened volatility observed in the general crypto market during the weekend, Ethereum once again lost the $2,500 price mark, which led to a notable pullback close to $2,200. However, ETH has not fully lost its potential to rally as technical developments hint at a major rebound in the upcoming days.

Key Pattern Signals A Sharp Rally For Ethereum

Ethereum is battling with growing bearish pressure after losing the $2,500 mark a few days ago. ETH’s price may have witnessed a sharp pullback, but Rose Premium Signals, a crypto analyst, is confident that a rebound could be underway.

In the post shared on X, the expert’s analysis on ETH shows that the altcoin is building strength beneath the fall as a key chart pattern begins to take shape. Specifically, Rose Premium Signals has identified a Cup and Handle chart pattern on the 1-week time frame.

A Cup and Handle formation is a bullish technical continuation pattern that suggests a possible bounce toward the upside following a phase of consolidation. Since the pattern often points to a bullish outlook, the expert believes that ETH could bounce back again and surge dramatically to high levels.

Looking at the 1-week chart, Ethereum’s price is presently retreating from the neckline region at about $2,600. Despite the notable decline, the key chart pattern is expected to trigger a major rally for ETH.

As the cup and handle pattern slowly matures, ETH could be on the verge of a significant upward move that may challenge previous highs. According to Rose Premium Signals, if this zone is successfully recovered, the altcoin may move closer to the key target of $4,204.69.

Is It A Good Time To Purchase ETH?

While Ethereum has retraced, AlienOvicho, a crypto expert and trader, revealed that the altcoin is inching closer to a price range considered a good buying point. After navigating the ongoing price action, the analyst has underlined the buy zone between the $2140 and $1970 range.

As bearish pressure mounts, the $2,140 – $1,970 buying zone is a crucial area where a positive reaction is expected, and is currently being tested by ETH. However, if the bounce does not happen next week, attention will be shifted to the next possible demand zone, which is around $1,800.

This level is consistent with the earlier structure and may provide a more solid foundation for the subsequent move higher if the larger structure holds. Meanwhile, a rebound, which is expected to take place in the upcoming days, would push ETH’s price past the $2,300 resistance level.

At the time of writing, ETH was trading at $2,264, demonstrating a nearly 1% decrease in the last 24 hours. ETH’s price may be facing bearish pressure, but sentiment among traders appears to be improving. Data from CoinMarketCap reveals that its trading volume has increased by over 13% in the past day.

Featured image from Pixabay, chart from Tradingview.com

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Technical analysis is a methodology to trade the markets.

It uses historical price (or volume) to help you make a trading decision.

There are hundreds of technical analysis tools available, but most of them fall into one of these categories…

• Volume
• Indicators
• Chart patterns
• Support & resistance

But here’s the thing…

Despite having an abundance of these tools (like RSI, MACD, Stochastic, Fibonacci, etc.), most traders lose money with technical analysis.

Why?

It’s often because they’re making one of these mistakes…

No trading plan (bringing “nasty surprises”)

Let me ask you…

Which is more important, entry or exit?

Most traders focus heavily on entry, believing a good entry guarantees profit.

As a result, they use technical analysis mainly to time their entries.

But perfect entries are impossible to find for every trade.

Without a plan, crucial questions remain: What if the market moves against you? What do you sell if it reverses after a gain? What if an accidental profitable trade happens?

Clearly, trading needs more than just the best entries.

To be a profitable trader, you must have a trading plan that tells you what to do, no matter what happens.

The next mistake is…

No edge (masking consistent losses)

What’s the true purpose of technical analysis, then?

It’s to help you develop a trading system to gain an edge in the markets.

So, what is an edge?

An edge (aka expectancy) means your trading activity, over time, yields a net positive result.

The mathematical formula is as follows:

E= (Winning % x Average Gain) – (Losing % x Average Loss)

Let me give you a few examples to show how this works…

Example 1

• Winning Rate: 70%
• Average Gain: $80
• Losing Rate: 30%
• Average Loss: $100

E = (0.7 × 80) – (0.3 × 100) = $26

This means you can expect to earn an average of $26 per trade. So after 100 trades, you can expect to earn around $26 × 100 = $2600.

You might be thinking…

“So I need to have a high winning rate to be a profitable trader?”

Nope.

Here’s another example with a high winning rate, but having a negative expectancy…

Example 2

• Winning Rate: 70%
• Average Gain: $10
• Losing Rate: 30%
• Average Loss: $100

E = (0.7 × 10) – (0.3 × 100) = -$23

This means you can expect to lose an average of $23 per trade.

What this shows is that on its own, your winning rate or risk-to-reward ratio is a useless number.

Both are needed to confirm an edge.

Technical analysis helps you develop a trading system that aims for this crucial edge.

So, be honest…

…does your trading system have an edge?

If you don’t know the answer, that’s because you have…

No data (leading to a lack of discipline)

Without data, defining your edge, verifying if your trading system works, or maintaining the discipline to follow the rules becomes impossible.

In fact, it usually leads to abandoning a system after only a few losses.

So, for starters, these are the data you must track…

• Annual return %
• Number of trades
• Maximum drawdown %
• Winning rate %
• Losing rate %
• Average gain $
• Average loss $

Now you’re probably thinking:

“How do I get access to such data?”

There are two approaches.

First, you can journal your trade and accumulate this data over time. However, it’s time-consuming, and you’ll need months or even years to get a decent sample size.

The other approach is backtesting (and it’s the one I prefer). I’ll go into more details later…

But for now, another reason why most traders fail is that they have…

No risk management (blowing up multiple accounts)

Imagine there are two traders, John and Sally.

• They have a $1,000 account
• They have a 50% winning rate
• They have an average of a 1 to 2 risk-reward ratio
• John risks $250 per trade
• Sally risks $20 per trade

The outcome of the next 8 trades is as follows…

Lose Lose Lose Lose Win Win Win Win.

Here’s the outcome of both traders…

John’s result: -$250 -$250 -$250 -$250 = BLOW UP

Sally’s result: -$20 -$20 – $20 -$20 +$40 +$40 +$40 +$40 = +$80

Can you see the importance of risk management?

As a trader, you’ll encounter losses regularly, guaranteed.

But proper risk management contains them, making them manageable.

Breaking it down…

Most traders lose money with technical analysis because they have…

• No trading plan
• No edge
• No data
• No risk management

These issues all point to the same root cause: a lack of a proven, quantifiable trading system backed by data.

But once you have it, all of these problems will go away.

Now you’re probably wondering:

“So, how do I develop a trading system that works?”

Here’s my answer to it…

The RETT Technique

This is the technique I’ve used to develop multiple trading systems so I can profit in bull & bear markets, even during a recession.

Here’s the proof…

As you can see, from 2019 to 2025, my trading account was up 179% (compared to 84% for the S&P 500).

So, how does The RETT Technique work?

It can be broken down into four parts…

• Read trading books with backtested results
• Extract the concepts
• Test the trading system
• Tweak the trading system

Let me explain…

Read trading books with backtested results

You want to read trading books that give you the rules of a trading system and the backtest results. Here are 3 reasons why…

1. You have a framework to start with, so you can save time
2. The backtest result gives it more credibility, and you can use it to compare it against your result
3. The author’s reputation is at stake, which means the trading systems are likely to work

Once you read a few of these books, you’ll notice most profitable trading systems have similar characteristics. That’s when you move on to the next step…

Extract the concepts

Concepts are the underlying principles driving a trading system’s performance.

For example…

The concept of breakout means you’ll buy after the price has moved in your favour.

The concept of counter-trend means you’ll buy in a downtrend (and go short in an uptrend).

The concept of a trailing stop loss means you’ll give your trade “breathing room” with the hopes of riding a trend.

Every profitable trading system combines a few core concepts. Understanding these allows you to develop multiple trading systems.

To extract the concepts of a trading system, ask yourself these questions…

1. What’s the characteristic of the trading system?
2. What type of market conditions does it work best in?
3. What type of market conditions does it underperform in?
4. What’s the trading setup?
5. What’s the exit signal?

From these questions, you’ll understand the concepts behind the trading system, how it works, why it works, and how to develop one for yourself.

Next…

Test the trading system

To test a trading system, you can run a backtest on it.

This means executing trades on past data so you can see how the trading system has performed over time.

For example, here’s the result of a Bollinger Band trading system…

If you saw these kinds of results, would you have the confidence to trade the system in live markets?

Possibly!

This is the power of backtesting. It tells you whether a trading system works or not, saving time and money, and builds confidence, especially during a drawdown.

Now you might be wondering:

“Why do I need to backtest the trading system if the result is provided in the book?”

That’s because you’ve no idea if the backtest result is accurate or not. You have to validate it yourself.

And finally…

Tweak the trading system

Now, if you’re happy with the backtest results, then you can test the system in the live markets (with a small account).

But if you want to improve things like…

• Reduce the maximum drawdown
• Improve the risk-adjusted returns
• Make it less correlated with your existing systems

Here are some things you can do to achieve it…

Reduce the maximum drawdown

Most stock trading systems go into a deep drawdown because they are going against the overall market trend. So by having a trend filter, you can reduce the maximum drawdown.

E.g. Only buy stocks when the S&P 500 is above the 200-day moving average. Otherwise, remain in cash.

Improve the risk-adjusted returns

To improve the risk-adjusted returns of a trading system, you can test the parameters over a range of settings and see which works best.

E.g. A trading system goes long when the stock price makes a 5-day low. What if you test the 10, 20 or even 50-day low? What’s the impact of it? Are the risk-adjusted returns getting better when the duration is increased, or does it perform worse?

Make it less correlated with your existing systems

Here’s a little-known fact…

When you trade multiple trading systems that have little to no correlation, you will improve your risk-adjusted returns, reduce your maximum drawdown, and have a smoother equity curve.

So, how do you reduce the correlation between trading systems?

One way is to test the trading system on different markets. E.g., instead of the US stock market, you can test it on the Canadian or the Australian stock market.

Using the RETT formula, I’ve developed multiple trading systems over the years.

For example, a mean reversion trading system that has generated an average of 18.69% over the last 29 years…

If you want to learn more, you can grab a copy of Trading Systems That Work.

You’ll discover 3 proven trading systems that work so you can profit in a bull market, a bear market, or even during a recession.

Conclusion

So here’s what you’ve learned today:

• Most traders lose money with technical analysis because they have no trading plan, no edge, no data, or no risk management.
• To solve these issues, you need a trading system that works, something that’s quantifiable and backed by data.
• One way to develop a profitable trading system is to use the RETT technique: 1) read trading books with backtested results 2) Extract the concepts 3) Test the trading system 4) tweak the trading system

Now here’s what I’d like to know…

What’s your struggle when it comes to technical analysis?

Leave a comment and let me know your thoughts!

Bonk, the Solana Meme Coin, is an interesting moment in his presence. The project boasts strong community and a 50% price increase over the past month. Recently, Bonk has integrated with Bravo Ready Games, earning 1.72M daily for several days this month. Technical analysis reveals some contradictory points, but it was considered the most purchased project with Smart Money.

I believe at the same time $ bonk I’m going to create a massive new high this year

Best Solana Beta + Cracked Marketing Team + Huge Normy Appeal

My bag is absolutely packed pic.twitter.com/jlicorvahc

– Champion (@champtgram) May 28, 2025

People like champions think that there is still “bread” left in the coin. He also points out some good basics. I’m not always saying my technical analysis is correct. However, even if long-term prices are expected to create new ATHs, I think it is also important to consider multiple scenarios.

Discovered: Top Solanamime Coins to buy in May 2025

Will Bonk jump or dive? Technical analysis speaks

(bonkusd)

Bonc chart for weekly time frames. For simplicity, I use 1000bonkusdt with Bibit. Let’s start with a simple moving average and market structure. At the end of 2023, there will be a massive run.

The majority of the price range for 2024 was spent, falling below the previous low (orange line) this year, with the last three candles being rejected from a level consistent with the MA50. The two bottoms in this top range are the same price of $0.0095. That’s an important level of support.

Discovered: Top 20 Cryptography to Buy in May 2025

(bonkusd)

Next, we examine the daily time frame for analysis. Here, Bonk prices are around the moving average. This month I tested the lower side twice, below the MA200, but both were rejected.

For a move to a high, you must regain that level. The MA50 and MA100 are potential support that sits a little higher than the $0.0095 level. What can be scary (or exciting) for traders is this huge free space after a huge pump at the end of 2023.

Conclusion of thoughts about Bonk Price Action

(bonkusd)

Finally, we will analyze the 4H chart. Here, the MA50 and MA100 rejected the price. And now it’s being destroyed under MA200. Go back and look at the previous chart and the RSI levels on this chart. It seems you can go there either way every week. It is still in the bullish area every day, but rejection from the MA200 and breaking below that in the 4H time frame could be a short r:R entry. The foundation is strong, but sometimes there’s a price boost, and that might be time for a bunch.

Stay safe and don’t get your money from other traders!

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Solana is ready to pump thanks to strong technical indicators and ecosystem support.

The ‘cup’ started forming around November 2022, with the handle coming into existence during the tariff-induced panic sell-off.

What’s even more encouraging is that this pattern has taken a long time to form – almost 2.5 years. This makes it a stronger bullish indication.

It’s also worth noting that $SOL has risen around 38% since the second week of April, showing good upward momentum.

Read on to find out more reasons why investors are bullish on $SOL. We’ll also point you towards the best crypto to buy to benefit from the upcoming bull run.

Solana Tokenized Stocks and ETF Push

There has also been an increasing push towards stock tokenization on the Solana blockchain.

The Solana Policy Institute has submitted a proposal called ‘Project Open’ to the SEC, which seeks approval to issue tradable tokens for stocks.

Larry Fink, BlackRock CEO, has backed the idea of stock tokenization and believes it can revolutionize the financial markets.

This would make transactions faster, and billions that are often stuck in settlement delays can be pumped back into the markets almost instantly, generating more wealth over time.

Every stock, every bond, every fund—every asset—can be tokenized. If they are, it will revolutionize investing. – Larry Fink

More good news: a Solana exchange-traded fund also looks like a certainty in the near future. Bloomberg has predicted a 90% chance for $SOL ETF approval in 2025 itself.

Furthermore, the Solana stablecoin supply is also at an all-time high. It reached $11.7B in February 2025 and further shot up to $13B by May. Note that it was just $5B last year.

A hike is supply like this should open up new possibilities in the Web3 and DeFi space.

All in all, if you want to ride Solana’s growth, this is the best time to invest. The cryptos mentioned in this guide, especially Solaxy, offer the highest potential for returns.

1. Solaxy ($SOLX) – Best Crypto to Buy Now on Solana, Boasts over $32M in Presale

Even though Solana has many positives potentially propelling it to new highs, it’d be difficult for the network to realize its full potential until it can overcome its congestion and scalability issues. Enter Solaxy ($SOLX).

Solaxy is a new cryptocurrency and one of the very few offering real-world application. After all, it plans to build the very first Layer 2 scaling protocol on Solana.

This Solana L2 will offload some transactions onto a sidechain, which is how it’ll reduce the burden on Solana’s mainnet and speed up the entire blockchain.

Additionally, $SOLX will also reduce the transaction fees on Solana by processing a lot of transactions simultaneously, instead of one by one.

Currently, however, one $SOLX will only cost you $0.001714. That’s because the token is in presale, where it has raised a staggering $33M.

If this is your first crypto presale purchase, check out our guide on how to buy Solaxy.

2. Bonk ($BONK) – Solana’s Dog Meme Coin King

With over $1.5B in market capitalization, Bonk ($BONK) is easily the biggest dog-themed meme coin on Solana. It was also the first-ever dog coin on the network.

In case you have any reservations about the potential of dog cryptos, just look at the most successful meme coins of all time. Three out of the top five, i.e., $DOGE, $SHIB, and $BONK, are inspired by ‘a man’s best friend.’

What’s more, one of the biggest success stories of recent times, $BROCCOLI, is also a dog-themed coin.

Coming to $BONK, its chart suggests that it’s now taking support at the $0.000016 level, which happens to be a previous resistance zone.

The crypto is already up over 50% in the last month and can rally further once $SOL takes off. Thanks to a low price of $0.0000161p, $BONK is in contention for the best cheap cryptos to buy now.

3. Fartcoin ($FARTCOIN) – The Loudest and Stinkiest Token on Solana

Created on a suggestion by the Truth Terminal AI chatbot, Fartcoin ($FARTCOIN) is one of the most amusing community-driven cryptos on the market.

It rewards token holders if they submit hilarious fart jokes. Moreover, there’s an uncanny ‘Gas Fee’ mechanism that emits a fart sound every time a transaction goes through.

Quite naturally, crypto degens were quick to send $FARTCOIN soaring; it’s, in fact, one of the best meme coins on the market.

The token has jumped over 145% in just the last month or so, and it’s expected to continue its climb with much velocity once it breaks through the $1.20 resistance level. You can buy it now for just $1.09.

Even the Best Crypto to Buy Needs the Market’s Help

$SOL’s upcoming upward momentum can indeed drag the best altcoins on its network along with it. However, even though the signs are all there, there’s really no guaranteeing anything in crypto.

The market is volatile and full of ups and downs, which is why it’s recommended you only invest an amount that’s small enough for you.

Finally, we urge you to do your own research before investing. Remember, this article isn’t financial advice.

According to the team, IOTA Rebased will be the chain’s “largest, most complex, and most important upgrade to date.”

The announcement has highlighted several essential protocol features that will be available immediately upon launch.

These include​ the Mysticeti consensus protocol, which will enable the chain to reach high scalability and faster transactions. IOTA Rebased will see throughput over 50,000 transactions per second and transaction finality under 500 ms.

Moreover, IOTA has integrated smart contracts based on the Move programming language directly onto the L1. This allows developers to build “sophisticated,” scalable, and secure decentralized applications (dapps). The team notes that IOTA is only the third network offering the MoveVM after Sui and Aptos.

Next, Rebased brings minimal transaction fees with an adaptive fee-burning mechanism. At the same time, it comes with the new IOTA Gas Station that enables developers and businesses to cover their users’ fees. This means that users can execute transactions without having IOTA coins themselves.

Finally, the Layer-1 network will upgrade to a fully decentralized delegated Proof-of-Stake network (DPoS). It will begin with 50 permissionless validator slots and gradually increase to over 150.

Initial IOTA Rebased Genesis Validators include IOTA Foundation, IOTA Ecosystem DLT Foundation, Tangle Ecosystem Association, DLT Green, P2P, Luganodes, Twinstake, KILN, Stakin, Nansen, Blockscope, DAIC/Coinage, and Staketab.

Meanwhile, the upgrade follows a governance vote, technical testing, review, and audit process, the announcement says.

As reported, in the December governance vote, the IOTA community supported the Rebased protocol upgrade proposal. The IOTA Foundation explained that the blockchain would switch from L1 to a Move-based object ledger. The token holders voted in favor.

Iota Introduces Staking Rewards for the First Time

In addition to the many technical enhancements, the Rebased upgrade will also introduce staking rewards. This should give the IOTA tokens utility.

Per the team, this will mark the first IOTA staking rewards in the project’s history.

Moreover, the new system will allow IOTA token holders to actively participate in securing the network and will incentivize them to do so.

At the same time, they will earn rewards for their effort. The upgrade will offer an annual percentage yield (APY) of up to 10%–15%.

The announcement states that “IOTA’s official migration to the new IOTA Rebased protocol marks a pivotal advancement in IOTA’s history as it readies itself to bring significant new adoption and applications to the ecosystem.”

It will help the project onboard institutional investors – “even countries” – to its tokenization, trade digitization, trade finance, and digital identity platforms.

Finally, IOTA aims to introduce advanced applications to its Web3 ecosystem. These include, among others, DeFi, on-chain orderbook exchanges, supply chain systems, and stablecoins.

Meanwhile, IOTA trades at $0.1727. It is up 1% in a day and 6% in a week. Also, it is down 6% in a month and 29% in a year.

The coin hit its all-time high of $5.25 in December 2017, decreasing by 96.7% since.

The post IOTA Moves to Rebased Protocol in Two Weeks, Its ‘Most Technical’ Upgrade Yet appeared first on Cryptonews.

This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.

Bitcoin’s (BTC) recent range play resolved bullishly early Monday, shifting focus to the $90,000-$92,000 range, which was previously a strong support zone.

The leading cryptocurrency by market value rose past $87,000, convincingly breaking out of a week-long consolidation between $83,000 and $86,000. The renewed willingness among the bulls to lead the price action indicates the resumption of the recovery from the April 7 lows under $75,000.

It also means potential for a continued move higher to the $90,000-$92,000 range, which acted as the floor, arresting price drops from December to early February. The support zone was eventually breached in late February, spurring a rapid decline to under $75,000.

The range breakout is seen on the hourly chart (left).

It follows the recent invalidation of the bearish trendline, characterizing the sell-off from record highs, as seen on the daily chart. BTC has also surpassed the 30-day exponential moving average (EMA) of price highs, indicating a bullish shift in momentum.

The focus, therefore, is on the $90,000-$92,000 range, the former support zone from early this year. Those tracking moving averages should note that the 200-day simple moving average (SMA) is now located at $88,245.

The bullish outlook risks invalidation should prices fall all the way back to $85K by the day’s end (UTC).