SEC approves Bitwise crypto index ETF including BTC, ETH, and XRP as analysts expect altcoin ETF wave amid pro-crypto shift in US. The post SEC approves Bitwise crypto index ETF with BTC, ETH, XRP, and Solana appeared first on Crypto Briefing.

SEC approves Bitwise crypto index ETF with BTC, ETH, XRP, and Solana

An analyst has pointed out that XRP has broken out of a Bull Pennant on the 
weekly chart and may now be setting its sights on this target. XRP Has Surged 
Above Bull Pennant Recently In a new post on X, analyst Ali Martinez has 
talked about how XRP has exited above a Bull Pennant recently. The Bull 
Pennant refers to a technical analysis (TA) pattern that forms when an asset&#8217;s 
price succeeds a sharp upwards move with a period of consolidation between two 
converging trendlines. Related Reading: Solana Becomes The Talk Of Social 
Media As Price Hits $200 Bull Pennants are similar to Bull Flags, with the 
main difference being that flags involve parallel channels instead. Just like 
in the case of the Bull Flag, the initial uptrend forms the &#8216;pole,&#8217; but the 
consolidation channel here is known as the &#8216;pennant.&#8217; When the price is 
trading inside the pennant portion of the pattern, it&#8217;s likely to face 
resistance at the upper level and support at the lower one. An escape out of 
either of these levels might signal a breakout in that direction. Bull 
Pennants are considered to be continuation patterns, so a breakout may be 
assumed to be more probable in the bullish direction. That is, the asset can 
be more likely to surge above the resistance line. Like the Bull Pennant, 
there is also the Bear Pennant. This TA pattern works much in the same way, 
except for the fact that the pole is represented by a downwards move and that 
a bearish breakout is more likely. Now, here is the chart shared by the 
analyst that shows the pattern that the weekly price of XRP was trading inside 
until recently: As displayed in the above graph, the weekly price of XRP was 
earlier witnessing consolidation inside a Bull Pennant, but this month, the 
asset finally found a break as its price exited out of the pattern in a sharp 
manner. Usually, Bull Pennant breakouts are considered to be of the same 
length as the pole. Based on this, the analyst has drawn a potential breakout 
for the cryptocurrency in the chart. The target that it leads to is $15. 
Related Reading: Ethereum To $10,000? Analyst Says ETH Has To Break This Level 
If such a bull run does occur for XRP, then its price would have surged by a 
whopping 320%. It now remains to be seen whether the Bull Pennant would 
actually end up holding for the asset. XRP Price The altcoins have taken off 
recently and XRP has been no exception, as its price has reached the $3.56 
mark after a rally of almost 22% over the last week. Featured image from 
Dall-E, charts from TradingView.com

XRP Breaks Out Of Bull Pennant—Is $15 Now In Sight?

Analysts speculate the Securities and Exchange Commission could be stalling 
until it creates listing standards for crypto ETFs, or is trying to stop its 
sole Democrat commissioner from disrupting the approval process.

SEC approves, then instantly pauses Bitwise’s ETF conversion

Mercurity Fintech (MFH) has secured a $200 million equity line from Solana 
Ventures to launch a comprehensive solana-based treasury initiative. Solana 
Ventures Backs Mercurity With $200 Million for SOL-Based Treasury Mercurity 
Fintech Holding Inc. (Nasdaq: MFH) has announced a strategic $200 million 
equity line of credit from Solana Ventures Ltd., marking a major step in […]

Mercurity Fintech Secures $200 Million for Solana Treasury

Solana started a fresh increase above the $185 zone. SOL price is now 
correcting gains and might find bids near the $195 support zone SOL price 
started a fresh upward move above the $185 and $192 levels against the US 
Dollar. The price is now trading above $195 and the 100-hourly simple moving 
average. There is a key bullish trend line forming with support at $199 on the 
hourly chart of the SOL/USD pair (data source from Kraken). The pair could 
start a fresh increase if it clears the $205 resistance zone. Solana Price 
Gains Momentum Solana price started a decent increase after it cleared the 
$180 resistance, like Bitcoin and Ethereum. SOL climbed above the $185 level 
to enter a short-term positive zone. The price even smashed the $200 
resistance. A high was formed at $207 and the price is now correcting gains. 
There was a move below the $205 level and toward the 23.6% Fib retracement 
level of the upward move from the $178 swing low to the $207 high. Solana is 
now trading above $195 and the 100-hourly simple moving average. There is also 
a key bullish trend line forming with support at $199 on the hourly chart of 
the SOL/USD pair. On the upside, the price is facing resistance near the $205 
level. The next major resistance is near the $208 level. The main resistance 
could be $215. A successful close above the $215 resistance zone could set the 
pace for another steady increase. The next key resistance is $232. Any more 
gains might send the price toward the $245 level. Are Downsides Limited In 
SOL? If SOL fails to rise above the $208 resistance, it could start another 
decline. Initial support on the downside is near the $199 zone and the trend 
line. The first major support is near the $195 level. A break below the $195 
level might send the price toward the $192 support zone or the 50% Fib 
retracement level of the upward move from the $178 swing low to the $207 high. 
If there is a close below the $192 support, the price could decline toward the 
$185 support in the near term. Technical Indicators Hourly MACD – The MACD for 
SOL/USD is losing pace in the bullish zone. Hourly Hours RSI (Relative 
Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support 
Levels – $199 and $192. Major Resistance Levels – $208 and $215.

Solana (SOL) Smashes $200, Bulls Now Target $220–$250 Zone

BitMine has secured a major capital infusion from ARK Invest, which has 
acquired $182 million worth of BitMine equity across multiple ARK funds. 
According to a July 22 statement, the deal involved 4.77 million shares 
purchased via a block trade…