The broader cryptocurrency market steadies as US President Donald Trump hints that the ceasefire is “going to be a good deal.” Bitcoin (BTC) holds above $74,000 at press time on Friday, whereas the whole market liquidations exceed $400 million, signaling elevated volatility. In the meantime, RaveDAO (DAO), Polkadot (DOT), and Ethena (ENA) are main gains during the last 24 hours.
Liquidations surge amid extending ceasefire talks
Donald Trump hints at an extension of the two-week truce with Iran whereas each block the Strait of Hormuz. Trump, in an interview at the White Home, mentioned, “It’s trying very good that we’re going to make a deal with Iran, and it’s going to be a good deal.”
In the meantime, the cryptocurrency market recorded $444 million in liquidations during the last 24 hours, led by $226 million in brief liquidations and $218 million in lengthy liquidations. The almost equal lengthy and quick liquidations point out heightened volatility throughout the market as costs whipsaw.
Nonetheless, the broader market sentiment stays impartial after the beginning of the US-Iran truce talks.
Technical outlook: May RaveDAO, Polkadot, and Ethena lengthen gains?
RAVE trades above $17 at press time on Friday, extending a steep bullish part far above its underlying development metrics. The pair holds decisively over each the 50-day Exponential Shifting Common (EMA) at $3.1171 and the 100-day EMA at $1.8174, underscoring a strongly supported uptrend regardless of the vertical nature of the most recent advance.
Momentum stays stretched, with the Relative Power Index (RSI) hovering deep in overbought territory at 78, whereas the Shifting Common Convergence Divergence (MACD) stays firmly optimistic, which collectively counsel the rally’s impulse is robust however more and more weak to sharp corrective swings.
With no close by chart-based resistance ranges, RAVE stays in a worth discovery mode.
On the draw back, the primary significant structural cushion emerges nicely under spot at the 50-day EMA round $3.12, adopted by the 100-day EMA close to $1.82, the place dip-buying curiosity could be anticipated to reappear if a deeper retracement unfolds.
Polkadot holds above $1 at the time of writing on Friday, in a broadly bearish setup under the 50-day, 100-day and 200-day EMAs, which proceed to cap the upside and body a dominant downtrend construction.
That mentioned, MACD has turned optimistic after crossing above the sign line and is edging increased, whereas the RSI at 50 hovers across the midline, hinting that bearish stress is shedding momentum even because the broader development stays below pressure.
On the topside, preliminary resistance is aligned with the 50-day EMA round $1.37, the place sellers may re-emerge on any bounce. A break above this stage would expose the subsequent resistance at the 100-day EMA close to $1.58, forward of a extra strategic barrier at the 200-day EMA round $2.05.
Wanting down, the S1 Pivot Level stays a key help at $1.08.
Lastly, Ethena exhibits a gradual restoration, surpassing the 50-day EMA at $0.1041, which now provides preliminary dynamic help. Nonetheless, ENA stays nicely under the 100-day and 200-day EMAs at $0.1382 and $0.2109, retaining the broader bias bearish regardless of the most recent bounce.
Momentum is enhancing, with the RSI at 61 hovering simply above the middle line whereas the MACD line enters optimistic territory, suggesting that near-term upside makes an attempt may proceed however are prone to face overhead provide at the upper averages.
On the topside, preliminary resistance aligns with the 100-day EMA at $0.1382, and a each day shut above this stage could be wanted to ease the prevailing bearish construction earlier than the extra distant 200-day EMA at $0.2109 comes into view.
On the draw back, quick help is seen at the 50-day EMA round $0.1041; a break again under this flooring would expose the current swing space nearer the $0.10 deal with and warn of a deeper pullback throughout the dominant downtrend.
(The technical evaluation of this story was written with the assistance of an AI software.)
