Crypto World
Walmart (WMT) Stock Plunges Over 5% Amid Sales Growth Concerns
Key Takeaways
- Walmart shares plummeted more than 5% Wednesday, reaching their lowest point in eight months following a six-session losing streak
- Cleveland Research identified a deceleration in U.S. comparable store sales that may threaten analyst consensus figures, especially in July
- Shares began trading at $113.26, significantly beneath the 50-day moving average of $123.25
- Company insiders offloaded more than $1.06 billion worth of shares during the previous three months without any reported purchases
- Wall Street maintains a Moderate Buy rating with a consensus price target of $138.85, though valuation concerns have emerged
Shares of Walmart began Wednesday’s session at $113.26, representing a decline exceeding 5% and positioning the stock for its weakest closing price in eight months. This marked the sixth straight trading day of declines for WMT.
The catalyst behind the selloff was research from Cleveland Research, which identified signs of decelerating U.S. comparable store sales. The research firm cautioned that this trajectory may negatively impact consensus forecasts, with July’s performance being particularly critical.
In response to inventory challenges, Walmart has implemented price reductions and leveraged tariff refunds to cushion margin pressure. While this represents a strategic response, it underscores the genuine cost and demand challenges confronting the retailer.
The share price deterioration persists even after a robust first-quarter performance. The company delivered earnings of $0.66 per share in May, aligning with analyst projections, while revenue of $177.75 billion surpassed the anticipated $174.84 billion — representing a 7.4% year-over-year gain. Management also maintained its fiscal 2027 guidance of $2.75–$2.85 in earnings per share.
However, investors appear focused on future challenges rather than recent accomplishments.
Significant Insider Transactions Draw Attention
Insider trading patterns have been notably lopsided. Throughout the past quarter, company insiders divested more than $1.06 billion in WMT shares. No insider purchases were documented during this timeframe.
Executive Vice President Christopher Nicholas disposed of 2,900 shares at $123.92 on May 21st. Fellow EVP Latriece Watkins subsequently sold 11,000 shares at $118.97 on May 28th. Both transactions occurred through pre-established Rule 10b5-1 trading arrangements.
Although scheduled sales are standard practice, the substantial magnitude of insider selling has attracted investor scrutiny.
The stock currently trades at a P/E ratio of 39.74 — representing a premium valuation that several analysts question in light of potential growth deceleration. While its GF Score of 86/100 indicates strong long-term fundamentals, near-term momentum has turned decidedly negative.
Analyst Community Maintains Optimistic Stance
Notwithstanding the downturn, Wall Street analysts haven’t abandoned Walmart. The stock maintains a Moderate Buy consensus rating with an average price objective of $138.85 — substantially above present trading levels.
Recent analyst ratings feature a $145 Buy target from BTIG, $140 from Truist, and $137 Outperform ratings from both Wolfe Research and Royal Bank of Canada. Among 36 tracked analysts, 31 maintain Buy ratings and four recommend Hold. A single analyst assigns a Strong Buy rating.
Several institutional investors expanded positions during the first quarter. Littlejohn Financial Services established a fresh $2.81 million position, while Union Bancaire Privee UBP SA increased its holdings by 253.3%.
Walmart’s 52-week high stands at $135.15. The stock’s 200-day moving average rests at $122.22, a threshold now breached to the downside.
With a 1-year low of $94.23, there’s context for evaluating potential downside if selling momentum persists.
Crypto World
What to Expect From Solana (SOL) in July 2026
SOL trades near $77 after a 16% weekly bounce, yet it remains about 74% below its record high. On-chain activity is climbing toward yearly highs as the price attempts to bottom.
The contrast sets up a decisive month for SOL. A bearish price structure on higher timeframes now collides with some of the strongest network readings Solana has posted this year.
Solana Network Activity Tests Yearly Highs
On-chain data paints a healthier picture than price alone suggests. The number of active addresses is rising sharply and retesting yearly highs just below 7 million.
Transactions per second, measured on a seven-day average, are trending steeply higher toward 1,100. That reading is approaching a new all-time high for network throughput.
This creates a clear divergence. Network activity continues to grow while the token price sits near its lowest level in more than a year.
Much of the recent surge in throughput stems from meme coin launchpads and speculative airdrops on Solana. Sustained usage above these levels would strengthen the fundamental case for a price recovery.
Weekly Chart Keeps SOL in a Bearish Range
The weekly chart tells a more cautious story. SOL sits roughly 74% under its all-time high of $293 and trades at its lowest level since December 2023.
Price is currently defending the long-term 0.786 Fibonacci retracement near $73. That level marks the last major support before deeper downside opens up.
The first meaningful resistance sits at the 0.618 Fibonacci level around $120. A move back to that zone would require a gain of more than 55% from current prices.
Weekly volume continues to contract, which often signals accumulation and low volatility. However, the broader structure stays bearish until buyers reclaim higher levels. The recent leverage liquidations across the market underline how fragile sentiment remains.
Solana Price Prediction: $80 Line in the Sand
The daily chart offers the first signs of a possible bottom. SOL broke down from an ascending channel in June and hit its measured target near $63.
Price then bounced firmly off that support and now retests resistance just below $80. The Relative Strength Index has climbed toward 60, which indicates building momentum from buyers.
A daily close above $80 would strengthen the recovery case and open the path toward $100 and eventually $120. Failure to hold $73 would expose the $63 demand zone again.
The upcoming Alpenglow consensus upgrade could act as a catalyst if activation nears in the third quarter. Broader market weakness, seen in recent ETF outflows, remains the main risk. July now hinges on whether SOL can convert strong network fundamentals into a decisive break above $80.
The post What to Expect From Solana (SOL) in July 2026 appeared first on BeInCrypto.
Crypto World
Ethereum Institutional wins backing from Standard Chartered and top Ethereum leaders
Its launch comes as Ethereum’s support ecosystem undergoes a broader evolution, following the debut of EthLabs and amid ongoing efforts by the Ethereum Foundation to respond to community criticism over transparency, communication and its role within the ecosystem by encouraging more independent organizations to take the lead on adoption and ecosystem growth.
Vivek Raman, CEO of Etherealize, said on X that Ethereum Institutional is another example of Ethereum’s decentralized model in action.
“Ethereum is not built by or run by a single organization,” Raman wrote. “Ethereum is a network of independent nodes that collectively make the infrastructure inevitable. Ethereum Institutional will play a key role in amplifying and growing Ethereum. Could not be more excited for this launch.”
Joe Andrews, CEO of privacy developer firm Aztec Labs, told CoinDesk that the launch reflects the continued decentralization of Ethereum’s support ecosystem rather than the emergence of a single voice.
“Over the last two weeks, the Ethereum community has further added to the decentralisation of the network,” he said. “There are now three non-profits all advocating for adoption of Ethereum. It is natural that one of these entities is focusing on institutions, as the world needs a global settlement layer and Ethereum is the only credible option.”
Crypto World
BlockDAG’s Proprietary BDAG AI Pulls Buyers in Droves! Here’s Why the $0.00000044 Entry Beats LINK & TRON Today
The Chainlink price prediction reflects tension this week, as LINK trades near $7.37 while investors weigh short-term caution against optimism tied to its growing DeFi integrations. Meanwhile, the TRON price is in bullish territory, with the network processing nearly $2 trillion in stablecoin settlements, proving that steady utility can still turn heads even when the broader market feels uncertain.
Then there is BlockDAG, entering the radar of investors searching for the best crypto to buy now. It has just rolled out BDAG AI, bringing a fresh suite of artificial intelligence tools now live on its network, adding an estimated $500 million to its valuation overnight.
And with entry still sitting at a fraction of a cent against a $0.05 buyback offer, BDAG is quickly becoming the standout name this week. Let’s see which makes the most urgent entry case today.
Chainlink Price Prediction: Consolidation Continues
The Chainlink price prediction remains mixed as LINK trades around $7.37 with a $5.51 billion market capitalization. The token is still below its 50-day SMA of $8.66 and 200-day SMA of $9.92, while the Fear & Greed Index of 12 reflects extreme caution among investors.
However, the 14-day RSI of 32.44 suggests selling pressure may be easing. In the short term, holding above $7.07 support could pave the way for a move toward $7.75, while a break lower may push LINK closer to $6.80.
From a longer-term perspective, Chainlink price prediction remains optimistic thanks to the network’s expanding role in decentralized finance and its recent integrations across 10 blockchain networks. Forecasts suggest LINK could climb to $17 in 2026, $28.53 by 2029, and potentially $52.95 by 2032, provided adoption continues and overall crypto market conditions improve.
TRON Price Rises on Stablecoin Settlement Activity
The TRON price could continue benefiting from the network’s dominance in stablecoin payments if current usage trends persist. During the first quarter of 2026, TRON processed $1.96 trillion in stablecoin settlements while hosting roughly $85–86 billion in USDT, highlighting strong demand for low-cost transfers.
Network engagement also remains healthy, with daily active users climbing 16% over the past month to around 4.4 million. However, slower user onboarding, with active addresses easing to 15.8 million, suggests growth is being driven more by existing users than newcomers.
Meanwhile, total value locked has reached about $4.4 billion, although much of it remains tied to payment activity instead of DeFi applications. For the TRON price outlook to strengthen over the long term, the ecosystem will likely need broader DeFi adoption alongside continued growth in stablecoin settlement volumes.
BlockDAG: 45x Window Ends in 24 Hours!
BlockDAG is seeing a rush of buyer interest right now, and once you look at what’s happening across the network, it’s easy to understand why. Entry currently sits at just $0.00000044 per coin, and the network just launched BDAG AI, a new set of artificial intelligence tools now built into the platform.
That move alone added an estimated $500 million to the project’s valuation. On top of this, the BlockDAG Futures & Spot Exchange is set to arrive in two weeks, a development many expect will push the entry price much higher.
Plus, for the next 24 hours, entry is even more rewarding thanks to a $0.05 buyback offer, which could translate into 45x returns for anyone who buys now and sells back at that rate. The World Cup Bonus is also live, giving buyers 50% extra BDAG on their purchase, further expanding the ROI potential.
A profit opportunity like this is rare in the market, especially for a network seeing as much demand and adoption as BlockDAG. The BlockDAG Casino also proves that, continuing to see record activity, with more than 13,000 users and over $150 million wagered in its first 30 days.
The casino runs on a high-speed network, currently processing 5,500 transactions per second, and is set to increase to 7,000 within three days. Thanks to this scalability, ROI, and technological strength, BDAG is effectively outperforming many established cryptos today.
According to experts, whether someone wants to cash out through the buyback or hold for the long term, this might be one of the most impressive entry points crypto has offered in a while.
Which Is The Best Crypto to Buy Now?
LINK and TRON are worth watching, but neither offers urgency right now. The Chainlink price prediction points to a slow grind upward, with LINK needing to reclaim key resistance before its longer-term targets of $17, $28.53, and beyond come into focus. As for the TRON price, while the stablecoin volume makes it a solid utility play, future gains depend on whether DeFi adoption can catch up to TRON’s payment dominance.
BlockDAG, on the other hand, is not asking investors to wait around. With BDAG AI just added to the network, a $500 million valuation, and the Futures & Spot Exchange launching in two weeks, the fundamentals are impressive.
And the entry won’t stay low for long. Those seeking the best crypto to buy now have already rushed in to secure $0.00000044 and position for the buyback program. Plus, the 50% World Cup Bonus means higher ROI at no extra cost. Those who miss this window risk missing out on one of the biggest opportunities of the year.
Presale: https://purchase.blockdag.network
Website: https://blockdag.network
Telegram: https://t.me/blockDAGnetworkOfficial
Discord: https://discord.gg/Q7BxghMVyu
Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
Crypto World
Solana Launches Onchain Governance With Stake-Weighted Voting for Validators

Solana Foundation announced Wednesday that onchain governance is live on the network, letting validators propose and vote on protocol-level decisions through a system called Solana Governance Proposals, or SGPs. The mechanism is fully onchain, stake-weighted and verified by Merkle proof, according… Read the full story at The Defiant
Crypto World
Bitcoin Taps $60K As Investors Grapple With Rate Hike, Record ETF Outflows
Key takeaways:
- Persistent spot Bitcoin ETF outflows and US dollar strength reduce the odds of a quick bounce to $65,000.
- Strong AI sector earnings momentum and higher fixed-income returns pull capital from Bitcoin and gold.
Bitcoin (BTC) reacted positively to US Federal Reserve Chair Kevin Warsh’s remarks on stubborn inflation. Despite the gains on Wednesday, traders fear that incentives for fixed-income investments and strong earnings momentum in tech stocks will continue to pressure non-yield-bearing assets like cryptocurrencies.

US 5-year Treasury yield (left) vs. Bitcoin/USD. Source: TradingView
The US 5-year Treasury yield jumped to 4.22%, meaning traders demanded higher returns to hold government bonds. Even as inflation eventually eases and WTI crude oil prices fell to a 4-month low, investors anticipate monetary expansion. Regardless of how the Fed manages interest rates and its balance sheet, the US Treasury dictates debt issuance trends.

Implied odds of FED interest rates on Sept. 16. Source: CME FedWatch Tool
US government bond futures implied 64% odds of interest rate hikes by September, up from 23% one month prior. The higher expected return on fixed-income investments came as the US dollar strengthened against other major global fiat currencies, which is especially concerning for alternative hedges such as gold and Bitcoin.

Gold/USD (left) vs. US dollar strength (DXY). Source: TradingView
Despite the gains on Wednesday, gold prices are down 12% in two months, while the US dollar strength (DXY) nears its highest mark in one year. This vote of confidence in the US economy partly stems from AI sector strength, evident in the 25% gains in the Nasdaq 100 index. However, some specific tech sub-sectors have recently signaled weakness, which could act as a catalyst for Bitcoin and gold.
Could the AI sector cool off act as a catalyst for Bitcoin?
Micron (MU US) and SanDisk (SNDK US) shares saw intraday losses exceeding 9% on Wednesday after competitors SK Hynix (000660 KR) and Samsung (005930 KR) announced plans to expand capacity. Still, the move can hardly be deemed a trend reversal as the iShares SOX Semiconductor Index ETF (SOXX US) gained 78% in three months.
Continued outflows from US-listed spot Bitcoin exchange-traded funds (ETFs) have shattered bulls’ hopes, reinforcing a negative price spiral as negative news gets amplified while positive events barely register.

US-listed spot Bitcoin ETFs daily net flows, USD. Source: SoSoValue
Regardless of the rationale behind the sales, Bitcoin’s weakness, 53% below its all-time high, does not inspire confidence in the $60,000 support level.
Strategy (MSTR US) increased its cash position to restore a healthy 17 months of dividend coverage on Monday. However, Strategy’s variable-rate Stretch preferred stock (STRC US) continued to trade far from the $100 target required for additional issuances. The STRC dividend rose to 12% from 11.5%, which was apparently not enough to entice more buyers.
Related: Bitcoin just $5K away from ‘best investment opportunity’ of bear market
Bitcoin might have temporarily benefited from Fed Chair Warsh’s concerns about persistent inflation, but rising expectations for higher interest rates and strong earnings momentum in the AI sector may continue to exert negative pressure on Bitcoin. As a result, a sustainable rally to $65,000 could take longer.
Crypto World
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Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.
Crypto World
Ethereum Banks on Institutional Interest to Save ETH as Price Remains 70% Below Peak
Ethereum Institutional launched Wednesday, the ecosystem’s second nonprofit in nine days, backed by Tom Lee’s BitMine, SharpLink Gaming and co-founder Joe Lubin.
The launches show the backers doubling down while price stays weak. Ether (ETH) trades near $1,600, down about 67% from its 2025 peak.
Two Nonprofits in Nine Days
Ethereum Institutional follows the research nonprofit Ethlabs, which launched on June 22. Its backers cast Ethlabs as readying the network for an institutional supercycle.
Both share the same anchor funders and the same aim, drawing institutional interest to Ethereum. The launches come as the Foundation keeps narrowing its core role to protocol stewardship.
The funders are heavily exposed to ETH. BitMine, the largest corporate holder, controls about 5.7 million ETH, or roughly 4.7% of supply, per a late-June company disclosure. SharpLink, the second-largest treasury, added 10,000 ETH just before the launch.
ETH traded near $1,610 as of this writing, up almost 5% over 24 hours. However, the largest altcoin on market cap metrics still sits about 67% below its August 2025 record high. That is a steeper drop than Bitcoin (BTC), which trades about 53% below its own peak.
The token has spent 2026 near the low end of its range. The backers are wagering that institutional demand can lift ETH before price follows.
Ethereum Institutional’s Neutral Front Door
Ethereum Institutional describes itself as a credible, independent front door for institutions assessing the network, according to its website. Its founding team previously built the Ethereum Foundation’s enterprise function.
David Walsh, Marius Smith and Matthew Dawson lead the organization. Walsh earlier ran the Foundation’s enterprise efforts.
The nonprofit set five priorities from day one. These span institutional engagement, market intelligence, ecosystem marketing, industry research and events. More supporters are expected soon.
“The world’s largest institutions are deciding where tokenization, stablecoins, and onchain markets will settle. We’re ready to make Ethereum the base layer for institutional finance,” read an excerpt in the announcement.
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Standard Chartered Sees a Bigger Opportunity
Geoff Kendrick, global head of digital assets research at Standard Chartered, called the two launches important for Ethereum’s commercialization. He said they arrive as TradFi enters the network at scale, filling a longstanding gap in Ethereum’s institutional outreach.
“This commercialization is central to ensuring Ethereum capitalizes on its current lead towards becoming the settlement layer of the global economy,” Kendrick wrote in a client note.
Kendrick sees Ethlabs and Ethereum Institutional as complementary. One readies the protocol, while the other brings institutions through the door.
Tom Lee, who chairs BitMine, welcomed the launch, after floating a long-term ETH target of $250,000, betting tokenization pulls institutions onchain.
The ambition runs ahead of the price. Whether the two nonprofits convert institutional interest into demand will show in the months ahead.
The post Ethereum Banks on Institutional Interest to Save ETH as Price Remains 70% Below Peak appeared first on BeInCrypto.
Crypto World
Bitcoin Bounces Off 21-Month Low But Will Bulls Hold The Line?
Bitcoin (BTC) traded as high as $60,200 on Wednesday, up about 2.7% over the past 24 hours after falling to a 21-month low of $57,737 earlier in the session. Ether (ETH) and Solana (SOL) also gained, up 3% and 4.85%, respectively.
The bounce took place amid deep investor caution, with sentiment trackers gauging the balance of fear and greed in crypto markets currently reading around 11 out of 100, in “Extreme Fear” territory. Despite the rebound from the yearly low, Bitcoin remains down roughly a third since the start of the year.

Crypto Fear & Greed Index. Source: Alternative.me
Bitcoin dip-buyers overshadowed by fear of future selling
Investors’ cautious stance shows up differently depending on what data is analyzed. US spot Bitcoin exchange-traded funds (ETFs) have seen more money leave than enter in recent weeks, including a reported $4.5 billion total outflow in June, the largest since the funds launched.
At the same time, onchain data shows that long-term holders added roughly 270,000 BTC over the past two weeks. That is generally read as a sign that some bigger investors see the recent decline as an opportunity rather than a reason to sell.
Looking at the past few days, one useful gauge is the funding rate. That figure has stayed positive for three straight days, meaning bets on rising prices have remained crowded even as Bitcoin fell to new lows. When leverage builds up on one side of the market like this while price is weak, it can add to volatility, since more traders become exposed to being forced out of their positions if the market moves further against them.

Bitcoin open interest, funding rate. Source: Hyblock
Liquidations continue to define the price action
A broader look at where leveraged positioning is concentrated, combining data from three major exchanges over the past week, shows the heaviest concentration of positioning is roughly between $57,000 and $60,500, which closely wraps around the range Bitcoin has traded in since late June. That concentration thins out noticeably above about $61,000 to $62,000, and again below about $55,000 to $56,000.

Bitcoin liquidation heatmap, 3-day look back. Source: Hyblock
In practical terms, most of the leverage that could be forced to unwind sits close to the current price rather than in a distant zone, so a decisive move beyond roughly $61,000 on the upside, or $56,000 on the downside, is where forced position closures would likely have the most room to accelerate a move.
The view for the next 24 hours leans neutral and a genuine shift in positioning would likely need to show up as rising leveraged positioning alongside a rising Bitcoin price, a combination that has not yet appeared in the data.
Crypto World
Brent Crude Oil Erases Entire War Premium, Falls 40% to Pre-War Levels
Brent crude oil has erased its entire war premium, sliding roughly 40% from its March peak near $120 to trade around $72.25 on Wednesday. The move returns oil to its pre-war support base.
The retreat follows stalled diplomacy between Iran and the United States. Traders have shifted focus away from conflict risk and back toward supply, demand, and the broader economic outlook.
Brent Crude Oil Falls Back Into Its Multi-Year Channel
The weekly chart frames the whole story. Brent crude oil has traded inside a descending parallel channel since late 2023. That structure defined the pre-war regime for more than two years.
The channel’s upper band rejected price four separate times through 2024 and early 2026. Each test capped rallies and sent oil back toward the middle of the range.
Then the conflict changed everything. Price broke out sharply after the Iran-US escalation, with the Doha talks still unresolved. Brent surged into a distribution zone between $104 and $114, peaking near $120.
That advance has now fully unwound. The weekly chart shows a 40.02% decline from the peak. Oil has fallen back into the accumulation zone between roughly $60 and $72.
The upper band of the channel now sits directly beneath the price. Old resistance can flip into support, and that band is the first line the bulls must defend.
Daily Triangle Breakdown Pushes RSI to Oversold
The weekly structure hints at support, yet the daily chart complicates that read. Momentum has turned sharply against oil.
Brent crude oil built a symmetrical triangle after the March top. Price coiled between a lower series of highs and a rising series of lows toward an apex near $108.
The pattern resolved lower. Oil broke down from the triangle in late May and fell in a near-vertical drop as war fears faded around Hormuz shipping lanes.
Price is now back on the pre-war support zone between $68 and $73. That band held as a base during January and February before the conflict began.
The daily Relative Strength Index (RSI) has fallen below 30. That marks the first oversold reading since April 2025 and signals deeply negative momentum. However, such stretched readings often precede a pause or bounce.
Oil Price Prediction Hinges on the $68 to $72 Support Zone
The two timeframes converge at a single decision point. The weekly upper band, the daily support base, and a rising trendline off the early-year lows all stack up between $68 and $72.
Brent crude oil sits at the top of that confluence near $72.25. The triangle’s widest span measured about $29, and the breakdown near $100 projected toward roughly $71. That target has now been met, suggesting much of the downside has been spent.
A hold here keeps the pre-war base intact and could open a rebound toward the $80 shelf that broke in June. A daily close back above $80 would ease the bearish pressure.
A loss of $68 would invalidate that thesis. The next support sits near $60 at the accumulation floor, with the lower channel band below it.
Fundamentals could tip the balance either way. Falling US inventories and a supply warning argue for a floor, while a fresh Iranian oil license and cooling war risk keep rallies capped.
Whether oil holds this zone or slides toward $60 now depends on the next Middle East headline, weighed against the forces of supply and demand.
The post Brent Crude Oil Erases Entire War Premium, Falls 40% to Pre-War Levels appeared first on BeInCrypto.
Crypto World
Robinhood Rolls out Public Blockchain, Plans Crypto Trading for UK Residents
Stock and cryptocurrency trading platform Robinhood announced the launch of its public mainnet about four months after it began testing the network.
On Wednesday, the company said Robinhood Chain, a layer 2 (L2) blockchain built on Arbitrum, had officially launched after the network went live on testnet in February. The blockchain, which the company described as “AI-native and purpose-built for real-world assets,” comes amid Robinhood’s expansion of crypto- and decentralized finance-related services.
According to Robinhood, it plans to launch crypto trading in the UK soon. The company also said that its tokenized stock products were live and available through its wallet app to users in more than 120 countries. CEO Vlad Tenev called tokenized stocks “inevitable” in January, arguing that offering the products could help prevent trading freezes that sometimes occur on traditional exchanges.

Source: Robinhood
The launch of the public mainnet came just a few weeks after Tenev announced that Robinhood would cut 10% of its workforce as part of a restructuring move. The company is expected to announce its 2026 second-quarter results on July 29, but reported in April that its crypto transaction revenue dropped by almost 50% year-on-year, from $252 million to $134 million.
Related: Last-minute MiCA approvals mark end of EU transition period
The company also introduced Robinhood Earn, a decentralized product that allows users to lend USDG, a dollar-backed stablecoin, through a self-custody wallet at an estimated 7% annual percentage yield. Robinhood shares rose about 8% on Wednesday.
Base’s L2 network reports back-to-back outages
Robinhood is entering an increasingly competitive L2 market dominated by networks such as Base, the Coinbase-backed blockchain.
In June, Base experienced two outages within hours of each other, which the engineering team later reported had been the result of a sequencer bug. The mainnet is the second-largest layer 2 network by total value secured at about $11 billion.
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