Bitcoin is turning heads once again as it climbs steadily within a rising channel, teasing a potential explosive move. According to chart watchers, the current rally aligns with Wave (5) of an Elliott Wave structure, historically the phase that unleashes the most aggressive price action. With momentum building and institutional demand ramping up, could this be the final leg before Bitcoin launches toward uncharted territory? Rising Channel Holds Firm As Wave (5) Builds Steam In a recent update, market analyst LSplayQ pointed out that Bitcoin is steadily climbing within a clearly defined rising channel, with the price now trading close to $118,000. This structured upward movement signals strong market confidence, with buyers consistently stepping in at higher levels to support the trend. Related Reading: Hold On For Dear Life: This Bullish Bitcoin Metric Just Touched A 15-Year High The analysis ties this momentum to an unfolding Elliott Wave formation, where Wave (5) is currently in play. The previous waves have displayed a clean pattern of higher highs and higher lows—a signature of impulsive bullish behavior. This suggests that Bitcoin’s price action is not random but follows a predictable rhythm often seen during strong uptrends. With Wave (5) potentially in progress, LSplayQ believes that Bitcoin could soon challenge the upper boundary of its rising channel. If this plays out as expected, the next target zone could be around the $140,000 region, a level that aligns with the broader technical projection of this ongoing wave structure. A breakout above the rising channel could spark even more aggressive upside, while any signs of weakness near these resistance levels might indicate a short-term pullback. However, the bullish setup remains intact for now as Wave (5) continues to unfold with precision. Institutional Buys Push Forward, But Technicals Urge Patience With institutions like Strategy continuing to accumulate, LSplayQ suggests that Bitcoin still has room to push higher. The growing interest from large-scale investors adds weight to the ongoing bullish momentum, further fueling optimism for an extended rally. Related Reading: Bitcoin Price Eyes $123K Explosion—Traders Brace for Breakout However, there are signs that the market may be nearing a temporary exhaustion point. The Relative Strength Index (RSI) is edging toward overbought territory, hinting at a potential cooling-off period. This doesn’t necessarily signal the end of the trend but could open the door for a short-term correction. Should a pullback occur, traders will likely shift their focus to key support zones. According to LSplayQ, the $99,531 level stands out as a critical area where buyers may step in to defend the uptrend. Holding above that threshold could set the stage for the next leg upward once the consolidation phase concludes. Featured image from Pixabay, chart from Tradingview.com Source: newsbtc.com (Read Full Article)

Tron (TRX) hit a fresh yearly high last Friday, climbing to $0.3344 for the first time since early December 2024. The price surge reflects growing market confidence, with bulls firmly in control and the technical structure pointing toward continued upside. While many altcoins remain stuck in consolidation, Tron stands out with a strong uptrend supported by improving fundamentals. Related Reading: Bitcoin Whale Metrics Flash Mixed Signals: Monthly Inflows Rise And Daily Outflows Start Slowing On-chain data from CryptoQuant reveals a key driver behind this momentum: fees on the Tron network have surged, surpassing those of Ethereum and reaching parity with Bitcoin. The platform now averages $1.29 in monthly transaction fees — a milestone that highlights both increased user activity and a moderate rise in base transaction costs. This shift has propelled Tron ahead of Ethereum in terms of fee-based revenue generation, further reinforcing its relevance in the smart contract and stablecoin sectors. The growing revenue stream and network usage indicate rising demand and adoption, both of which provide structural support for TRX’s price. As fees climb without deterring user engagement, the fundamentals continue to align with the bullish price action. With momentum on its side, Tron could be gearing up for a significant breakout beyond its current highs in the coming weeks. Rising Fees and Explosive On-Chain Activity Fuel Tron Burn Rate According to top analyst Darkfost, the surge in Tron’s network fees is not solely the result of recent protocol-level adjustments. Instead, it’s being reinforced by a steady and significant rise in on-chain activity. Tron has now processed more than 14 billion cumulative transactions — a staggering figure that underscores the network’s consistent utility. On a monthly basis, the network averages around 8.5 million transactions, signaling not just speculative interest but actual demand and adoption across a range of applications. What’s remarkable is that despite the increase in transaction costs, user activity continues to climb. This resilience points to Tron’s growing relevance in sectors like stablecoins, gaming, and DeFi, where low-cost, high-throughput performance is essential. The uptick in usage isn’t just a bullish signal on its own — it also has direct implications for tokenomics. Each transaction on Tron burns a small amount of TRX, meaning that rising activity naturally accelerates the burn rate. This creates a powerful positive feedback loop: increased usage leads to more TRX being burned, gradually reducing the circulating supply. As demand stays strong and supply decreases, the underlying value of TRX finds structural support. This deflationary mechanism, combined with growing adoption, positions Tron as one of the more resilient altcoins in today’s competitive market landscape. Related Reading: $331M In Shorts At Risk As Ethereum Targets Key Supply Level TRX Price Action Holds Strong Despite Minor Pullback Tron (TRX) is showing strong technical resilience after reaching a yearly high of $0.3344 last Friday. As of now, TRX is trading at $0.3137, following a modest pullback, but the broader trend remains clearly bullish. The chart reveals a well-formed ascending structure supported by the 50-day moving average (blue), which has acted as dynamic support throughout the uptrend since March. Importantly, TRX is still holding well above the $0.30 psychological level, a critical support zone aligned with the recent breakout area. This suggests that the current move is likely a healthy consolidation after a strong multi-week rally, rather than the beginning of a reversal. Related Reading: Ethereum Open Interest Hits Record $50 Billion – Volatility Incoming? The slope of the 100-day and 200-day moving averages (green and red) has started to turn upward, confirming the shift in momentum. If bulls manage to maintain control and defend the $0.30 level, TRX could soon retest its recent highs and potentially push toward the $0.35–$0.36 region. Featured image from Dall-E, chart from TradingView Source: newsbtc.com (Read Full Article)