The token defended its ascending channel structure despite distribution pressure at the upper boundary, keeping short-term bias neutral-to-bullish above $0.16.
The move marked the token’s strongest daily gain in a week and outperformance against a declining broader market, with traders now eyeing a clean push toward $2.50.
Traders can also keep track of where liquidation levels are concentrated, helping identify zones of forced activity that can act as near-term support or resistance.
The Federal Reserve’s 25-basis-point cut last week was widely expected, but Chair Jerome Powell’s restrained tone dampened risk appetite after he hinted that December’s cut isn’t guaranteed.
The move reflected cautious accumulation rather than broad conviction, as trading volumes remained below trend despite multiple volatility spikes during the session.
The deal is indicative of how miners’ once-volatile hardware fleets are increasingly viewed as strategic compute assets, bridging the gap between blockchain and AI.
The pause allows developers to roll out an emergency hard fork aimed at isolating compromised contracts and recovering affected assets before resuming operations.
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