Pyth Network’s price has dropped over 66% from its yearly high, and technicals point to a further downside. As of the afternoon on May 21 (Asia time), Pyth (PYTH) was trading around $0.124, down about 3% in the past 24…

PYTH crypto could crash as potential death cross looms

Crypto analyst Galaxy has drawn similarities between the current XRP price 
action and the 2017 bull run, when the altcoin recorded significant gains. He 
predicts the altcoin could soon rally to double digits, mirroring the 2017 
rally. XRP Price To Rally To Double Digits As It Mirrors 2017 Rally In an X 
post, Galaxy indicated that the XRP price could rally to double digits as it 
mirrors the 2017 rally. He stated that XRP is almost perfectly following the 
breakout pattern of 2017 after 6 years of consolidation. The analyst added 
that the longer the consolidation, the bigger the price move. Related Reading: 
XRP Reaching Oversold Levels As Net Flows Turn Negative, What’s Next? His 
accompanying chart showed that the XRP price could rally to almost $40 on this 
breakout. The analyst seems convinced that the altcoin could witness such a 
parabolic move, considering that XRP surged by 61,000% in 280 days in 2017. 
The chart also showed that the altcoin will likely reach this target sometime 
next year. Crypto analyst Egrag Crypto has also stated that he expects the XRP 
price to reach between $27 and $33 in this market cycle. He believes that a 
repeat of the 2017 historical performance makes these price targets achievable 
for the altcoin. The analyst has also alluded to factors such as the XRP ETFs 
and Ripple’s expansion as factors that could drive this price surge. 
Meanwhile, crypto veteran Raoul Pal also affirmed that the XRP price has 
enough room to rally to the upside from its current level. He highlighted a 
bull flag that had formed for the altcoin, following its consolidation phase 
after last year’s rally. The veteran expects XRP to witness a bullish 
continuation after this consolidation phase, possibly rallying to as high as 
$5. This would mark a new all-time high (ATH) for the token. The Altcoin In A 
Bullish Phase Crypto analyst CobraVanguard asserted that the XRP price is in a 
bullish phase, while highlighting a falling wedge pattern that was forming for 
the altcoin. He remarked that this pattern indicates the altcoin’s potential 
to reach $3. However, the analyst warned that this setup could be invalidated 
if the wedge pattern is broken downwards with the strength of bearish candles. 
Related Reading: XRP Price Explosion To $5.9: Current Consolidation Won’t Stop 
XRP From Growing Meanwhile, crypto analyst Dark Defender noted that the XRP 
price is currently in Wave B of its Wave 2 corrective move. He predicts that 
the altcoin could rally to its current all-time high once the B and C waves 
are completed in this corrective wave. The analyst is also confident that the 
altcoin can rally to double digits in the long term. He once predicted that 
the altcoin could reach $18 based on his Elliott Wave Theory analysis. At the 
time of writing, the XRP price is trading at around $2.38, up in the last 24 
hours, according to data from CoinMarketCap. Featured image from iStock, chart 
from Tradingview.com

Is The XRP Price Mirroring The 2017 Rally? Analyst Points Out Similarities

**Key takeaways:**
 * The Bitcoin Quantile Model shows &#8220;heat&#8221; with price on the verge of an &#8220;acceleration phase,&#8221; echoing Q4 2024 when BTC embarked on a 45% post-election rally.
Bitcoin (BTC) price has formed a new intraday high on each daily candle this 
week, with the crypto asset slowly grinding toward a new all-time high. In 
line with its current trajectory, 21st Capital co-founder Sina noted that 
Bitcoin is approaching a pivotal moment around the $108,000 level.
The Bitcoin Quantile Model update shows that BTC&#8217;s market reflects the same 
&#8220;heat&#8221; that was present after President Trump&#8217;s post-election rally and the 
spot ETF-driven highs during Q4 2024. The model, which uses quantile 
regression to map Bitcoin&#8217;s price phases on a logarithmic scale, indicates the 
cryptocurrency is in the Transition Zone, a critical juncture before the 
Acceleration Phase. Throughout Q4, 2024, Bitcoin rallied by 45% after entering 
a price discovery period above $74,500.
_Bitcoin Quantile Model. Source: X.com_
As illustrated in the chart, once it breaks into the &#8220;Acceleration&#8221; Phase, it 
could trigger BTC&#8217;s next leg or the mid-phase, typically between the 33% and 
66% range. Based on the model, BTC is expected to progressively target price 
levels of $130,000 and $163,000 in the coming months.
However, anonymous Bitcoin analyst apsk32 believed a price target above 
$200,000 is a &#8220;reasonable&#8221; expectation for 2025. Basing the projection on 
Bitcoin&#8217;s &#8220;power curve,&#8221; the analyst noted that BTC&#8217;s position relative to 
gold has significantly improved since April.
From a technical standpoint, this view is supported by the recent convergence 
of the Sharpe ratios for Bitcoin and gold, suggesting that the two hard assets 
now offer comparable risk-to-reward profiles to their investors.
Fidelity&#8217;s Director of Global Macro Jurrien Timmer shed light on this 
development, recommending a 4:1 goal-to-Bitcoin ratio from an allocation 
perspective.
_**Related: Bitcoin &#8216;blow-off top&#8217; set at $128K with new all-time highs in 
sight**_
## Strong Bitcoin volumes &#8220;final straw&#8221; before new highs
Crypto researcher Aylo analyzed BTC&#8217;s historical price action when the crypto 
asset consolidates near its all-time high level. In an X post, the analyst 
explained,
&gt; &#8220;The data shows when BTC gets close to its previous ATH during a strong, 
&gt; accelerating trend with high momentum, it has historically broken out to new 
&gt; ATHs within a short time (days to weeks).&#8221;
However, weaker trends have led to stalls or retraces between March and May 
2024. Currently, Bitcoin exhibits a strong trend but lacks the necessary 
trading volume, which remains the final straw to confirm a breakout, a factor 
that could delay upward movement.
Alyo added that for Bitcoin to break its all-time highs, daily trading volume 
should exceed the previous 10 days, be at least 1.5 times the 20-day average, 
and ideally sustain a 3-day increase while the price holds steady or rises.
Data from CryptoQuant has reinforced Aylo&#8217;s concerns about trading volume. On 
May 21, retail investor demand for Bitcoin, defined as wallets buying/selling 
between $0 and $10,000, remained low at just 3.2% over 30 days, despite BTC 
trading within $2,000 of its all-time high.
_Bitcoin &#8216;s retail investor volumes. Source: CryptoQuant_
For comparison, bullish retail demand accounted for approximately 30% in 
December 2024&#8211;nearly 10 times higher than current levels&#8211;even though Bitcoin 
was well below, at a price range of $96,000 to $97,000.
_**Related: How high can Bitcoin price go?**_
This article does not contain investment advice or recommendations. Every 
investment and trading move involves risk, and readers should conduct their 
own research when making a decision.

Bitcoin enters ‘acceleration phase’ resembling BTC price gains seen after Trump election victory

**Key points:**
 * Ethereum holders are back in profit, increasing chances for a rally to $3,000 and beyond.
 * Ether sell pressure risk exists at $2,800, where 2.27 million ETH could be sold.
Ether&#8217;s recent surge to $2,700 on May 14 pushed its value above its realized 
price, implying that the average holder of ETH is &#8220;now back in an unrealized 
profit,&#8221; according to Glassnode.
## Ethereum trades above its cost basis
Data from Cointelegraph Markets Pro and TradingView shows that Ether&#8217;s (ETH) 
price has risen by more than 52% to a three-month high of $2,700 on May 14 
from $1,800 on May 7, fueled by excitement around the Pectra upgrade.
This rally has seen ETH rise above its realized price or cost basis, currently 
at $1,900, paving the way for a potential rally to $3,000 or higher.
ETH holders returning to profit after unrealized losses &#8220;provides meaningful 
financial relief for many holders, signaling a bullish outlook,&#8221; Glassnode 
explained in its latest report.
Historically, during the early phase of a rally, holders in profit provided 
upward momentum by holding firm and attracting new investors.
Further analysis of the cost basis of active market participants indicated the 
&#8220;strength of this upward move&#8221; as the price moved above its True Market Mean, 
or the Active-Investor Price, at $2,400. This indicates fresh capital inflows 
into the market at higher prices.
As Cointelegraph reported, holding above $2,400 was crucial to ensure a 
potential $3,000 retest.
_Ethereum: Key pricing levels. Source: Glassnode_
Despite Ether&#8217;s recent outperformance, Glassnode analysts noted that the 
Active Realized Price still sits overhead around $2,900 and remains a key 
level that must be &#8220;decisively reclaimed to support continued improvement in 
investor confidence&#8221; in the altcoin.
The market intelligence firm added:
&gt; &#8220;The $2,400-$2,900 range remains a crucial area for Ethereum, acting as both 
&gt; a resistance zone and a potential breakout level essential for maintaining 
&gt; upward momentum.&#8221;
Popular trader Daan Crypto Trades also said that ETH price must &#8220;convincingly 
break&#8221; out of the $2,400-$2,600 range before rising higher to confront high- 
timeframe resistance between $2,800 and $2,850.
&gt; &#8220;Not looking to do much until we at least convincingly break out of this 
&gt; local range.
_ETH/USD four-hour chart. Source:__Daan Crypto Trades_
## **2.27 million ETH at $2,800 could trigger a sell-off**
According to Ether&#8217;s cost basis distribution data, investors hold 
approximately 2.27 million ETH at an average cost basis of $2,767, creating a 
potential resistance zone. This concentration suggests many investors may sell 
at break-even, potentially stalling Ether&#8217;s upward momentum.
_Ethereum cost basis distribution chart. Source: Glassnode_
From a technical perspective, ETH must flip the $3,000 resistance level into 
support to target higher highs above $4,000.
But first, the ETH/USD pair must close above the $2,600-$2,800 range, where 
the 100-day and 50-day simple moving averages (SMA) currently sit. ETH price 
dropped below this level in February, driven by risk-off sentiment following 
Trump&#8217;s tariff measures.
_ETH/USD weekly chart. Source: Cointelegraph/__TradingView_
​​One positive catalyst for the bulls could be continued demand from spot 
Ethereum ETFs. Ether ETFs registered $100.7 million in net inflows in the last 
three days, per Farside Investors&#8217; data.
Meanwhile, the bears will attempt to keep the $2,600 resistance in place to 
increase the likelihood of pulling the price lower. The immediate target is 
below the $2,400 level, or the 200-day SMA.
Below $2,400, the next key area of interest remains between $2,200 and the 
psychological level at $2,000. Reaching $1,800 would erase all the gains made 
after the Pectra upgrade.
This article does not contain investment advice or recommendations. Every 
investment and trading move involves risk, and readers should conduct their 
own research when making a decision.

Ethereum holders back in profit as ETH price enters 'crucial area' for $3K breakout

In a regional first, SukuPay’s crypto-native payment infrastructure is now 
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Monero price continues to chart its own path this month as demand for the 
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weeks as Bitcoin (BTC) and other altcoins stalled. It jumped to a high of 
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