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Dutch House of Representatives Advances Controversial 36% Tax Law

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The Netherlands’ lower chamber moved a sweeping capital-gains plan forward on Thursday, proposing a 36% tax on savings and most liquid assets, including cryptocurrencies. The bill cleared the House of Representatives with 93 lawmakers voting in favor, meeting and surpassing the threshold of 75 required to advance the measure. It would apply regardless of whether the assets are sold, extending to savings accounts, crypto holdings, most equity investments and gains from interest-bearing instruments. If the Senate signs off, the policy would take effect in the 2028 tax year. Critics argue the plan risks driving capital out of the Netherlands as investors seek jurisdictions with more favorable tax conditions. The discussion comes amid a broader global conversation about crypto taxation and how unrealized gains should be treated for high-net-worth and retail investors alike. The Dutch tally, published by the House, confirms the legislative momentum behind the proposal.

Key takeaways

  • The bill would impose a 36% capital-gains tax on savings and most liquid investments, explicitly including cryptocurrencies, with the tax levied even if assets are not disposed of.
  • The measure advanced after a 93-to-what-it-took vote in the Dutch House, surpassing the 75-vote threshold to proceed, signaling strong political alignment in favor of the reform.
  • Enactment hinges on Senate approval; if passed, the policy would apply beginning with the 2028 tax year, giving policymakers and investors time to prepare for the transition and for further details to emerge on implementation.
  • Critics warn the proposal could trigger capital flight from the Netherlands to jurisdictions with lower tax burdens, drawing on historical examples where similar levies spurred relocation of entrepreneurship and investment activity.
  • Analysts and industry figures have offered stark projections about the long-term impact on wealth accumulation, including widely cited calculations showing substantial reductions in compound growth under an unrealized-gains tax regime; comparisons to other tax debates in major markets underscore the broader risk environment for crypto and tech capital.

Tickers mentioned:

Sentiment: Bearish

Market context: The Netherlands’ proposal sits within a wider European and global dialogue on crypto taxation, where authorities weigh revenue needs against innovation incentives. As tax authorities assess how unrealized gains should be treated, the Dutch plan adds to considerations around how digital-asset holdings are accounted for in personal and investment taxation, echoing debates across the EU about consistency, enforcement, and the boundaries of capital taxation in a digital era.

Why it matters

The central premise — taxing unrealized gains on a broad swath of assets, including cryptocurrencies — marks a notable shift in how governments might approach wealth and investment in an era of rapid digital-asset adoption. Proponents argue that a real-time tax on gains helps address perceived inequities in how passive wealth is taxed versus earned income, potentially increasing public revenue to fund social and infrastructure initiatives. Yet, the immediate reaction from market participants and crypto executives has been skeptical, raising concerns about distortions to investment decisions and the long-run competitiveness of the Netherlands as a home for startups and asset management.

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Analysts highlighted the unintended consequences of such a policy. Denis Payre, co-founder of logistics firm Kiala, invoked a historical parallel, noting that France’s experience with an earlier capital-sweep proposal led to a pronounced exodus of entrepreneurs. The sentiment among several industry observers echoed this caution, with crypto market analyst Michaël van de Poppe describing the proposal as counterproductive and predicting a material shift of capital to more favorable environments. The underlying critique is that high tax rates on unrealized gains could dampen risk appetite and deter early-stage capital formation, especially for innovative sectors where growth often hinges on reinvested profits rather than realized gains.

Beyond the Netherlands, the broader economic calculus is clear: tax policy can have a measurable impact on how wealth compounds over decades. For instance, a widely cited hypothetical scenario contrasts outcomes with and without unrealized-gains taxation. Starting with 10,000 euros and contributing 1,000 euros monthly for 40 years, one study suggested the pre-tax outcome might reach around 3.32 million euros, whereas applying a 36% unrealized gains tax would reduce the final tally to roughly 1.89 million euros, a gap of about 1.435 million euros. While such projections depend on many assumptions, they illustrate how timing and recognition of gains influence long-term wealth accumulation, particularly for asset classes that can experience both rapid appreciation and volatility.

The policy also lands in the context of a U.S. debate around wealth taxes and crypto regulation. California, for example, has faced controversy over proposals to impose wealth taxes on billionaires, sparking a broader discourse about the balance between tax fairness and the incentives for innovation. While the Dutch measure focuses on unrealized gains across a wide array of assets, the parallel debates illustrate a growing global sensitivity to how digital assets are taxed and how such tax rules interact with entrepreneurship and capital formation.

As investors digest these signals, the crypto community has echoed concerns about the practicalities of enforcing a 36% rate on assets that can be volatile and illiquid, and about how such taxation affects portfolio strategies, cross-border activity, and the flow of capital to jurisdictions deemed more crypto-friendly. The discussion points to a broader trend where policymakers are still navigating the line between revenue-generation aims and the need to sustain a supportive environment for innovation and decentralized finance.

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What to watch next

  • Whether the Dutch Senate approves the bill and whether amendments alter the scope or rate of the proposed tax.
  • How the government and tax authorities define and enforce unrealized gains on a diverse set of assets, including cryptocurrencies.
  • Potential investor behavior in response to the policy, including any observed shifts to foreign domiciliation or cross-border holdings.
  • Any forthcoming data or studies assessing the macroeconomic impact of the reform on investment, entrepreneurship, and innovation in the Netherlands.
  • Broader EU considerations on crypto taxation and cross-border consistency as other member states weigh similar approaches.

Sources & verification

  • Tweep: Dutch House tally page showing the vote threshold and tally details for the bill (dossier 36748; id 2025Z09723). Verify the official tally and the threshold requirement here: https://www.tweedekamer.nl/kamerstukken/wetsvoorstellen/detail?dossier=36748&id=2025Z09723#wetgevingsproces
  • Investing Visuals projection comparing compound growth with and without unrealized gains tax over 40 years. See the analysis referenced in coverage of the proposal’s long-term effects: https://x.com/InvestingVisual/status/2022221938840441335
  • Statements from Denis Payre on the potential capital flight risk associated with such a tax proposal: https://x.com/DenisPayre/status/2022… (X post linked in coverage)
  • Commentary from Michaël van de Poppe critiquing the plan: https://x.com/CryptoMichNL/status/2022209120322121928
  • California’s wealth-tax discussion as a comparative reference in crypto regulation debates: https://cointelegraph.com/news/california-billionaire-tax-crypto-executives-slam

Netherlands advances 36% capital gains tax on savings and crypto

The House of Representatives’ decision to push the 36% capital gains tax proposal forward marks a pivotal moment in how the Netherlands could tax a broad spectrum of wealth. The measure targets not only traditional savings but also a wide range of liquid assets, explicitly including crypto assets, and would tax gains even when assets remain unrealized. The bill’s fate now rests with the Senate, and the clock is set for a 2028 effective date should the upper chamber approve the legislation in its final form. The political calculus surrounding this proposal underscores a broader concern among investors and industry observers: will such a tax regime dampen the country’s appeal as a hub for crypto and tech entrepreneurship, or can it be calibrated in a way that sustains public revenue without stifling innovation?

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IREN Joins MSCI USA Index, Elevating Visibility for Institutional Investors

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21Shares Introduces JitoSOL ETP to Offer Staking Rewards via Solana

TLDR

  • IREN has been included in the MSCI USA Index, enhancing its visibility among institutional investors and index-tracking funds.
  • The inclusion is expected to trigger automatic buying by index-tracking entities, potentially boosting IREN’s stock in the short term.
  • IREN has shifted focus from BTC mining to AI-driven infrastructure, positioning itself as a leader in the tech sector.
  • CEO Daniel Roberts believes the MSCI inclusion will broaden institutional access as the company executes its AI Cloud strategy.
  • Since the announcement, IREN’s stock has increased by around 7%, reflecting investor optimism despite concerns over recent financial results.

IREN, a company transitioning from a BTC mining operation to a dual-focus entity, has announced its inclusion in the prestigious MSCI USA Index. This move is set to elevate the company’s profile, attracting more institutional investors and index-tracking funds. It is expected to create a short-term surge in the stock price as automatic buying from these entities takes effect.

The inclusion in the MSCI USA Index provides IREN with enhanced visibility. Investors and funds that track the index will now automatically consider IREN as part of their portfolios. This may trigger a short-term surge in its stock value, supporting the company’s broader business goals.

Why MSCI USA Index Inclusion Matters for IREN

Daniel Roberts, Co-Founder and Co-CEO of IREN, expressed that being added to the MSCI USA Index is a sign of the company’s growth. “We believe this milestone will broaden institutional access to IREN as we continue to execute on our AI Cloud strategy,” he said. This inclusion comes as IREN shifts its focus from BTC mining to AI-driven infrastructure, positioning itself as a leader in the tech space.

As IREN pivots towards AI, the company’s shift in priorities is evident in its investments. It is spending more on AI-centric assets, such as data centers, than on traditional Bitcoin mining operations. This strategic move aims to capitalize on the growing demand for AI infrastructure, with plans to expand its power portfolio and attract long-term partnerships.

IREN’s Stock Response and Future Plans

Since the MSCI inclusion announcement, IREN’s stock has seen an upward movement. The company’s share price rose by approximately 7%, demonstrating investor optimism. However, concerns about the company’s financial performance remain, as recent quarterly results showed lower-than-expected revenues and widening losses.

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Despite these concerns, IREN’s long-term outlook remains promising. The company is in talks for several major deals, including a multibillion-dollar contract that could further drive its growth. As the AI infrastructure market expands, IREN aims to leverage its secured power capacity to attract new contracts and raise its recurring revenue.

IREN continues to make progress with its energy initiatives, securing new data center campuses and large power agreements. These efforts position the company to meet the growing demand for energy from tech giants, ensuring a robust pipeline for future growth.

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Why Chainlink price could rally to $10 as oversold RSI signals a bounce

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Why Chainlink price could rally to $10 as oversold RSI signals a bounce - 1

Chainlink’s price is stabilizing at key Fibonacci support, with oversold RSI readings and improving momentum pointing toward a potential relief rally into the $10 resistance zone.

Summary

  • $8.33 Fibonacci support is holding, confirming a short-term swing low
  • RSI remains oversold, signaling selling pressure exhaustion
  • Bullish momentum building, with $10 as the next key resistance

Chainlink (LINK) price action is beginning to show constructive signs after an extended period of downside pressure. Following weeks of aggressive selling, LINK has established a clear swing low and is now attempting to build a base above a technically significant support zone. This shift comes as momentum indicators flash oversold conditions, suggesting that bearish pressure may be exhausting.

As prices stabilize and buyers step in, the broader setup increasingly favors a corrective bounce rather than continued downside. With multiple technical factors aligning near current levels, Chainlink appears positioned for a potential rally toward higher resistance as momentum normalizes.

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Chainlink price key technical points

  • $8.33 support aligns with the 0.618 Fibonacci, reinforcing demand
  • RSI remains in oversold territory, signaling momentum exhaustion
  • Bullish follow-through opens a path toward $10 resistance, a key upside level
Why Chainlink price could rally to $10 as oversold RSI signals a bounce - 1
LINKUSDT (1D) Chart, Source: TradingView

Chainlink has successfully established support around the $8.33 region, an area that carries notable technical importance. This level coincides with the 0.618 Fibonacci retracement, often referred to as the “golden ratio,” which frequently acts as a high-probability reaction zone in corrective moves.

The formation of a swing low at this level suggests that sellers are losing control and that demand is beginning to absorb supply. Price has since reacted positively from this area, confirming it as a short-term base and increasing confidence that a local bottom may be in place.

Holding above this support keeps the broader corrective structure constructive and limits immediate downside risk.

Oversold RSI signals momentum exhaustion

One of the most compelling elements supporting a potential rally is the Relative Strength Index (RSI), which remains in oversold territory. Oversold RSI conditions typically reflect excessive selling pressure and often precede relief rallies as momentum begins to revert toward neutral levels.

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In Chainlink’s case, the oversold RSI is occurring after an extended downtrend, increasing the probability that the market is entering a mean-reversion phase. As price continues to stabilize and push higher, the RSI is likely to recover toward neutral territory, supporting further upside continuation.

Importantly, RSI recoveries do not require full trend reversals. Even within broader corrective structures, oversold conditions often produce sharp counter-trend moves as selling pressure fades.

Bullish influxes support the bounce

Recent price action suggests that the current rise is not purely mechanical. Bullish influxes are beginning to appear, indicating renewed buying activity. This shift in behavior is critical, as sustainable bounces require demand to return rather than relying solely on short covering.

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As long as bullish participation continues and price maintains acceptance above support, the probability of a continuation move higher increases. The structure now favors a rotation toward the next major resistance rather than an immediate retest of lows.

$10 resistance comes into focus

If the current momentum persists, the next key upside target sits near the $10 level. This zone represents a significant resistance area where price previously faced rejection and where sellers may re-emerge. A move into this region would be consistent with a corrective rally driven by oversold conditions rather than a full trend reversal.

Reaching $10 would allow the RSI to normalize and provide the market with a clearer view of underlying demand strength. How price behaves around this resistance will be crucial in determining whether the rally can extend further or transition into consolidation.

What to expect in the coming price action

From a technical, price-action, and market-structure perspective, Chainlink appears poised for a relief rally as long as the $8.33 support holds. Oversold RSI conditions, Fibonacci confluence, and improving bullish participation all support further upside.

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In the near term, consolidation above support followed by higher lows would strengthen the bullish scenario. A $8.33 loss on a closing basis would weaken the setup and reintroduce downside risk.

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U.S. Senate Clash Over Crypto Policy

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Crypto Breaking News

Key Insights

  • Warren questions SEC case dismissals, warning politics may be shaping crypto enforcement and investor protection.
  • SEC Chair Atkins defends a shift away from lawsuits, prioritizing fraud prevention and clearer regulatory guidance.
  • Senate clash highlights divide: clearer crypto laws vs stricter enforcement to protect markets and innovation.

Senate Hearing Turn Into a Crypto Flashpoint

A heated Capitol Hill hearing on February 12 thrust US crypto regulation into the spotlight as Senator Elizabeth Warren challenged Securities and Exchange Commission (SEC) Chair Paul Atkins over the agency’s recent enforcement decisions.

 

Warren directly questioned why several investigations into major crypto firms were dropped, particularly those connected to companies that financially supported Donald Trump’s inauguration. She argued the timing raised serious concerns about political influence and investor protection.

Atkins rejected the allegations, saying the SEC is moving away from “regulation by enforcement” and back toward its core mandate: preventing fraud, protecting investors, and maintaining fair markets. He insisted previous leadership relied too heavily on lawsuits instead of clear guidance.

Is SEC Enforcement Really Declining?

Warren cited public statistics suggesting enforcement has slowed:

  • Securities offering cases fell 10.64% from 2024 to 2025
  • Investment adviser actions dropped 23.71%
  • Broker-dealer cases declined 29.51%

Independent research also reported fewer settlements in fiscal 2025. However, Atkins countered that final annual data has not yet been released and argued the agency is prioritizing fraud over technical registration violations.

Supporters say the shift corrects regulatory overreach seen under former Chair Gary Gensler. Critics warn fewer actions could weaken accountability in the digital asset market.

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Registration Violations or Innovation Barriers?

Central to the debate is whether unregistered token offerings automatically constitute misconduct. Crypto companies have long argued unclear securities definitions made compliance difficult.

Atkins supports legislation similar to the Digital Asset Market Clarity Act, which would divide oversight between the SEC and the Commodity Futures Trading Commission. He compared the past environment to innovators stuck between two competing regulators.

Warren disagreed, warning reduced oversight could usher in a “golden age of fraud.”

Could Politics Be Influencing Crypto Policy?

Warren highlighted dismissed cases involving major exchanges including Kraken, Coinbase, Gemini, and Binance, noting their financial ties to inauguration events. She also questioned dropped actions tied to executives who later received presidential clemency.

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Atkins maintained pardons do not erase civil liability and emphasized that fraud investigations continue regardless of industry.

Conclusion

The battle discloses a larger policy divide: is a more explicit legislation more crucial in fostering innovativeness or is weaker enforcement more likely to hurt investors. The future of the United States regulation of digital assets may be determined by the final effect of Congress discussing crypto-market-structure legislation.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Bitcoin, Altcoin Relief Rally Aim To Restore Pre-crash Range Highs

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Bitcoin, Altcoin Relief Rally Aim To Restore Pre-crash Range Highs

Key points:

  • Bitcoin is attempting a comeback, which is expected to face stiff resistance at the breakdown level of $74,508.

  • Several major altcoins are attempting a recovery, signaling that lower levels are attracting buyers.

Bitcoin (BTC) has risen above $68,500, as buyers attempt to form a higher low near $65,000. According to Glassnode, BTC is stuck between the true market mean at $79,200 and the realized price near $55,000. The onchain data provider expects the range-bound action to continue until a major catalyst pushes the price either above or below the range.

Standard Chartered also had a muted forecast for BTC. It lowered BTC’s target to $100,000 from $150,000 for 2026. The bank expects BTC to fall to $50,000 over the next few months, followed by a recovery for the remainder of the year.

Crypto market data daily view. Source: TradingView

Several analysts also say that BTC has not yet bottomed out. Crypto analyst Tony Research said in a post on X that BTC will bottom in the $40,000 to $50,000 zone, possibly “between mid-September and late November 2026.”

Could BTC and the major altcoins start a recovery? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

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Bitcoin price prediction

BTC turned up from $65,118 on Thursday, indicating demand at lower levels. The bulls will try to push the price to the breakdown level of $74,508.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

If the Bitcoin price turns down sharply from the $74,508 level, it suggests that the bears remain active at higher levels. That may keep the BTC/USDT pair between $74,508 and $60,000 for a few days. On the downside, a break below the $60,000 support may sink the pair to $52,500.

Alternatively, if buyers thrust the price above $74,508, it suggests that the selling pressure is reducing. The pair may then rally to the 50-day simple moving average (SMA) ($85,046).

Ether price prediction

Buyers are attempting to push and maintain Ether (ETH) above the $2,000 level, but the bears have kept up the pressure.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

If the price turns down from the current level or the $2,111 resistance, it suggests that the bears are aggressively defending the level. The Ether price may then retest the critical support at $1,750. If the level cracks, the ETH/USDT pair may extend the decline to the next major support at $1,537.

On the upside, buyers will have to swiftly push the price above the 20-day exponential moving average (EMA) ($2,297) to signal a comeback. If they manage to do that, the pair may ascend to the 50-day SMA ($2,800).

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BNB price prediction

BNB (BNB) continues to gradually slide toward the strong support at $570, which is a vital level to watch out for.

BNB/USDT daily chart. Source: Cointelegraph/TradingView

If the BNB price plunges below the $570 support, it signals the start of the next leg of the downtrend toward the psychological level of $500. 

However, the relative strength index (RSI) is in oversold territory, indicating that a relief rally is possible in the near term. If the price turns up from the current level, the bulls will attempt to push the BNB/USDT pair above the $669 level. If they can pull it off, the pair may march toward the 20-day EMA ($710).

XRP price prediction

XRP (XRP) has been clinging to the support line of the descending channel pattern, increasing the risk of a breakdown.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

If that happens, the XRP price may drop to the $1.11 level. This is a critical level for the bulls to defend, as a break below it may resume the downtrend. The XRP/USDT pair may then fall to $1 and subsequently to $0.75.

Contrarily, if the price turns up from the current level and breaks above the20-day EMA ($1.55), it suggests that the pair may remain inside the channel for some more time. Buyers will have to achieve a close above the downtrend line to signal a potential trend change.

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Solana price prediction

Solana (SOL) is trying to find support at the $77 level, but the bears are likely to sell on rallies.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

The SOL/USDT pair may reach the breakdown level of $95, where the bears are expected to pose a strong challenge. If the price turns down sharply from the $95 level, it suggests that the bears have flipped the level into resistance. The Solana price may then plummet to the $67 level.

Conversely, if buyers push the price above the $95 level, the pair may rally to the 50-day SMA ($119). That suggests the break below the $95 level may have been a bear trap.

Dogecoin price prediction

Dogecoin (DOGE) is attempting to bounce off the $0.09 level, but the bears continue to sell on minor rallies.

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

If the Dogecoin price turns down and breaks below $0.09, the DOGE/USDT pair may drop to the $0.08 level. This is a crucial level for the bulls to defend, as a break below it may extend the downtrend to $0.06.

The first sign of strength will be a break and close above the 20-day EMA ($0.10). The pair may then rally to the breakdown level of $0.12, which is likely to act as stiff resistance. A break above the $0.12 level opens the doors for a rally to $0.16.

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Bitcoin Cash price prediction

Bitcoin Cash (BCH) broke below the $497 support on Thursday, but the bulls failed to sustain the lower levels.

BCH/USDT daily chart. Source: Cointelegraph/TradingView

The bulls are attempting to push the price above the 20-day EMA ($536) but are expected to face significant resistance from the bears. If the price turns down from the 20-day EMA and breaks below $493, the BCH/USDT pair may plunge toward the $443 level.

On the contrary, if the price breaks and closes above the 20-day EMA, it suggests demand at lower levels. The Bitcoin Cash price may then rally to the 50-day SMA ($581), where the bears are again expected to mount a strong defense.

Related: Bitcoin open interest hits lows not seen since 2024: Is TradFi abandoning BTC?

Hyperliquid price prediction

Hyperliquid (HYPE) has risen back above the 20-day EMA ($30.18) on Thursday, indicating buying on dips.

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HYPE/USDT daily chart. Source: Cointelegraph/TradingView

The flattish 20-day EMA and the RSI just above the midpoint suggest a balance between supply and demand. Buyers will have to propel the Hyperliquid price above the $35.50 level to indicate that the corrective phase may have ended. The HYPE/USDT pair may then ascend to $44.

Contrary to this assumption, if the price turns down and breaks below the 50-day SMA ($27.25), it signals that the bears have an edge. The pair may then slump to the $20.82 support.

Cardano price prediction

Cardano (ADA) remains inside the descending channel pattern, indicating that the bears remain in charge.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

The bears will attempt to strengthen their position by pulling the price below the support line and the $0.22 level. If they manage to do that, the ADA/USDT pair may descend to $0.20 and later to $0.15.

Instead, if the Cardano price turns up from the current level and breaks above the 20-day EMA ($0.29), it signals that the pair may remain inside the channel for some more time. Buyers will seize control on a close above the channel.

Monero price prediction

Monero (XMR) is facing resistance at the breakdown level of $360, but the bulls have not ceded much ground to the bears.

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XMR/USDT daily chart. Source: Cointelegraph/TradingView

That increases the likelihood of a break above $360. If that happens, the bears will again try to halt the recovery at the 20-day EMA ($385). However, buyers are likely to have other plans. They will try to pierce the 20-day EMA, clearing the path for a rally toward the 50-day SMA ($460).

This positive view will be negated in the near term if the Monero price continues lower and breaks below $309. The XMR/USDT pair may then plummet to $276, which is likely to attract buyers.