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A closely followed crypto analyst is warning that the crypto market may not be done correcting based on one key metric. In a new thread on the social media platform X, crypto trader Justin Bennett tells his 115,900 followers that the Tether dominance chart (USDT.D) is flashing bearish for Bitcoin (BTC) and other digital assets. Many traders closely watch the USDT.D chart as it shows how much of the crypto market cap is comprised of stablecoin Tether (USDT). A bullish USDT.D chart is generally considered bearish for Bitcoin and other cryptocurrencies as it indicates traders are unloading their crypto holdings in favor of the stablecoin. “You can’t help but feel we’re at pivotal levels right now in the crypto market. Tether dominance just secured its highest daily, three-day, and five-day close since early November, and this 4.4% area is serving as support so far this week. Despite how some will react, I’m not making any bold calls (yet), as...

The Peanut The Squirrel price plummeted over 17% in the last 24 hours to trade at $1.33 as of 11:19 p.m. EST as traders dump their holdings in the meme coin on the market. With this latest drop, the PNUT price has shoved its weekly performance deeper into the red zone. The meme coin is subsequently down more than 33% on the longer-term time frame. Peanut The Squirrel Price Clinging To A Key Support 4-hour chart for PNUT/USD (Source: GeckoTerminal ) The Peanut The Squirrel price is testing the key support at $1.2697, according to data from GeckoTerminal . Dropping below this technical safety net in the coming 12 hours could lead to a plunge to the subsequent mark all the way down at $0.8822. However, PNUT closing the next 2 4-hour candles above $1.2697 might invalidate the bearish thesis. In a more bullish scenario, the Peanut The Squirrel price might rebound from the current support and attempt a challenge at the $1.6417 resistance level. If the meme coin manages to break above ...

Widely followed analyst Benjamin Cowen is issuing a warning on Cardano (ADA) as the Ethereum (ETH) rival rallies. In a new video, Cowen tells his 822,000 YouTube subscribers that ADA could suddenly turn bearish against Bitcoin (ADA/BTC) on the weekly timeframe, similar to what happened in December 2020. “It’s probably not going to matter in a year, but there is still a chance that [ADA] gets one more flush on its Bitcoin pair. But if it does get one more flush on its Bitcoin pair, I would say that that’s probably the last one for the cycle, is what my guess would be.” Cowen says that Bitcoin’s dominance level (BTC.D) – the ratio between the market cap of BTC versus the market cap of all crypto assets combined – may extend higher next month. “Basically, I would take my Bitcoin dominance view and relate that to a lot of the alt/Bitcoin pairs. Bitcoin dominance, it’s possible that it’s topped, but there’s also ro...

The  Sudeng price has skyrocketed 48% in the last 24 hours to trade at $0.01194 as of 3:20 a.m. EST on a 134% pump in trading volume to $4.9 million. Sudeng calls itself the cutest HIPPO on SUI, and is a project that’s trying to capitalize on the viral success of rival meme coin Moo Deng (MOODENG), which is based on a pygmy hippo from a zoo in Thailand. Sudeng Price Faces A Downturn: Can The Bulls Regain Momentum? The HIPPO/USD price action on a 15-minute timeframe indicates two key technical patterns. A “Double Top” pattern is visible near the highs. A double top is typically a bearish reversal pattern, suggesting that the price may struggle to move higher and could decline from this point. After forming the double top, the price did indeed drop, validating this pattern. HIPPOUSD Analysis Source: GeckoTerminal Following the double top, the price entered a bearish channel characterized by a sequence of lower highs and lower lows. This channel s...