Ripple’s RLUSD stablecoin has gained momentum in decentralized finance (DeFi), attracting significant supply to Aave’s V3 Ethereum Core market, with a notable amount in loans taken. 

Daily top performer — Sui Network (SUI)

The S&P 500 gained 1.67% on easing trade tensions and Fed reassurance, but pared gains after tariff cut hopes were downplayed. Gold fell from its $3,500 high, signaling a bearish reversal. Key support lies near $3,167, with further downside possible. The Coindesk Indices, which tracks the broader crypto market, fell 0.53%, with Bitcoin and Ether up 2.19% and 5.92%, respectively, in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is SUI, up 7.3%, following OVERTAKE's partnership with Sui to build a scalable and trustless game asset trading platform.

Sui Network (SUI), founded in 2022, is a Layer 1 blockchain by Mysten Labs, built to improve web3 scalability, speed, and security. It aims to reduce smart contract latency and support innovative NFT gaming, like Sui Monstar, with a developer-friendly environment. 

, efficient game asset trading platform. Leveraging Sui’s object-centric architecture, parallel execution, zkLogin, and modular infrastructure, OVERTAKE aims to enable trustless trading, verified in-game assets, and a real, on-chain game economy.

Check out the latest prices, charts, and data of 

 has gained momentum in decentralized finance (DeFi), attracting significant supply to Aave’s V3 Ethereum Core market, with a notable amount in loans taken. Initially slow, the stablecoin's growth has accelerated after its debut on Aave. RLUSD has a market cap close to $300 million and a supply cap, with borrowing limited to a specific amount. Ripple aims for RLUSD to become a top-five stablecoin by year-end. Ripple's collaboration with Chainlink enhances RLUSD’s utility across both institutional and DeFi applications.

Yesterday, BTC spot ETFs saw $273.8M in total inflows, all from non-GBTC funds.

, with 10% of MILK’s 1B supply allocated for eligible users—mPoint holders, oolitia NFT holders, and milkINIT testers. Opt-in is required for CEX claims; wallet claims need no action. Pre-deposits close April 26, 12 PM UTC.

Beginner

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Ripple’s RLUSD stablecoin gains momentum with Aave integration and growing DeFi presence

VanEck’s BNB Spot ETF proposal could bring BNB to U.S. markets, expanding access and marking a key milestone for BNB Chain's growth in regulated finance.

After the US Securities and Exchange Commission (SEC) approved spot exchange-traded fund (ETF) products based on 

 (ETH) in 2024, a flurry of new altcoin ETF applications emerged in early 2025. Many prominent asset management firms are vying for the approval of their ETF products, based on coins like 

 (AVAX) and others. Even some smaller-cap meme coins, specifically Pudgy Penguins' 

, have joined the SEC's ETF waiting list.

Given that most top cryptos already have their ETF applications filed with the country's financial regulator, it's little surprise that BNB Chain's 

, the fifth-largest cryptocurrency by market capitalization, has joined the bandwagon. In late March 2025, the New York–based global investment management giant VanEck registered a trust entity named VanEck BNB ETF in the US state of Delaware. The registration is an early sign that the acclaimed investment manager is planning to lodge a BNB ETF application with the SEC.

If approved, it will be the first US-based BNB ETF product on the market, likely leading to significant growth within BNB Chain's already well-established ecosystem.

On Mar 31, 2025, one of the leading asset managers in the world, VanEck, registered a trust named VanEck BNB ETF in the US state of Delaware. This is the strongest imaginable indicator that the company plans to subsequently launch an application with the SEC for the ETF’s approval. If approved by the regulator, the product will be the first spot ETF in the US to track BNB coin. As of the time of this writing (Apr 23, 2025), VanEck hasn't formally applied with the SEC, but this step is likely imminent.

Following the SEC filing, BNB coin will join a long list of other leading cryptocurrencies whose spot ETF applications have been lodged with the US regulator. Over the past few months, the SEC has received spot ETF applications for Solana, 

The VanEck BNB Spot ETF will track BNB coin, allowing holders to invest in the asset without directly holding it. While BNB is among the most popular assets in the crypto market, many investors are eschewing it and other cryptocurrencies due to their unregulated nature. Upon approval, the ETF product would be available for trading on regulated stock exchanges.

The exact composition of a crypto ETF product is usually unknown before its application is filed with the SEC. Therefore, we can assume that at this stage the ETF will be based entirely upon tracking BNB coin. Any additional components, such as minor holdings of other assets such as cash equivalents, could theoretically be included, but this will only be known upon VanEck’s formal application to the SEC.

VanEck itself is among the leading ETF issuers in the finance industry and is a pioneer of crypto ETFs. The firm already offers approved 

, and has filed applications with the SEC for spot ETFs based on several other cryptocurrencies, including a 

Currently, there’s no ETF in the US based on the BNB coin. In that respect, VanEck’s registration is the first serious effort to introduce such a product. Internationally, there is one exchange-traded product (ETP) that tracks BNB — the 21Shares Binance BNB ETP (ABNB), listed on the Swiss Stock Exchange. This ETP is offered by 21Shares, a leading digital asset management firm based in Zurich, Switzerland.

. ETPs may be based on various assets, such as stocks, bonds, commodities or cryptocurrencies. However, ETFs often offer better liquidity, lower fees and greater tax efficiency than other types of ETPs.

In short, despite the presence of the ABNB ETP on the market, the BNB ETF landscape remains an empty niche, as the 21Shares product isn’t a full-fledged ETF and has no regulatory approval in the US.

Current impact of BNB ETF applications on the crypto market

VanEck’s BNB ETF application — or, to be precise, its registration in Delaware — has so far had no immediate impact on the coin’s market price. In fact, BNB coin is currently trading at $615.68, barely different from its price of $600 in the early days of April when news of the ETF’s registration first surfaced.

BNB is a major cryptocurrency featuring at least one billion dollars in daily trading volumes. The news of VanEck's initiative is unlikely to seriously affect BNB’s price. However, if the ETF ultimately gains approval from the SEC, such a development may have a significant positive impact on the crypto's future price.

What will it mean if a Spot BNB ETF application is approved?

If the SEC approves the Spot BNB ETF, it will likely lead to higher demand for BNB coin — as demand from investors for the product rises, VanEck will need to source more BNB to back its ETF shares. This increased demand would push the price of BNB higher. As noted above, BNB is one of the market's largest cryptos and features substantial trading volumes. Therefore, it's unlikely that a Spot BNB ETF would cause drastic rises in the coin’s price. However, a certain positive price effect is a safe bet, and the magnitude of the effect will be directly related to the popularity of the ETF among investors.

Additionally, the ETF will improve the visibility of the BNB ecosystem, potentially leading to more 

 (DApps) and projects launched on its blockchain.

If approved by the SEC, the Spot BNB ETF by VanEck would usher in a new era for the coin. For the first time ever, BNB as a financial asset would become available through the regulated environment of US stock exchanges. This would not only help support the coin’s price and expand the chain’s ecosystem, but would also be a major reputational gain for Binance, the world’s largest crypto exchange and the corporate entity behind BNB Chain.

Over the years, Binance has had its fair share of troubles and arguments with US regulators. A fully approved spot ETF based on Binance’s own coin would, therefore, send a signal to the crypto market that the major components of the Binance ecosystem — BNB crypto, BNB Chain’s blockchain and the Binance crypto exchange — aren’t as risky to deal with as some Americans may believe.

Intermediate

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BNB Spot ETF: A new gateway as BNB Chain evolves

In this article, we explore liquid staking protocol StakeStone's key features, the STO token launch, tokenomics and how to trade STO on Bybit.

StakeStone (STO) is a next-gen omnichain liquidity infrastructure protocol designed to optimize yield and cross-chain liquidity. Its introduction of liquid yield-bearing versions of ETH and BTC — STONE and STONEBTC — enables users to earn sustainable yield while enhancing capital efficiency. This article explores StakeStone’s architecture, core assets, founding team, tokenomics and recent market performance.

 is a decentralized liquidity infrastructure protocol that issues liquid, 

-bearing assets like STONE (Ethereum) and STONEBTC (Bitcoin). Designed for omnichain integration, it empowers users and protocols with composable 

 solutions and efficient cross-chain liquidity.

Launched in 2024, StakeStone was built to address the fragmented and capital-inefficient nature of ETH and BTC staking by introducing secure, flexible and modular primitives. StakeStone’s mission is to maximize on-chain yield while ensuring deep liquidity across ecosystems.

StakeStone was founded in 2023 by a team of DeFi-native builders led by Charles K, a crypto veteran with over 10 years of experience in centralized exchanges (CEXs), hardware wallets and DeFi infrastructure The core team includes Rose Li, Chief Strategy Officer, and Ivan K, Chief Marketing Officer.

The project has secured funding from notable crypto funds, including Polychain Capital, Binance Labs, OKX Ventures, Amber Group, HashKey Capital and Bankless Ventures. These backers not only provide capital but also strategic ecosystem access — positioning StakeStone as a serious player in omnichain liquidity and yield infrastructure.

StakeStone converts ETH and BTC into liquid, yield-bearing assets — STONE (ETH) and STONEBTC (respectively) — through a modular and omnichain framework. When ETH is staked, it flows into the StakeStone Vault and is allocated to the Strategy Pool, and STONE is minted via the Minter.

Yield is generated through strategies such as:

Users can deploy STONE across chains via the 

 (LP) rewards, with optional LP locking for enhanced returns. SBTC is the liquid BTC asset mirroring Bitcoin’s value, with STONEBTC adding a yield layer to BTC and unlocking passive income without sacrificing liquidity.

StakeStone implements key security measures, including the following:

STONE (ETH): Omnichain yield-bearing asset

 derivative. It’s minted when users stake ETH, and is backed by underlying yield from stETH, EigenLayer restaking and additional DeFi strategies.

STONE supports seamless cross-chain bridging, enabling deployment across supported networks and STONE-Fi Pools for additional rewards. Users benefit from passive yield, cross-chain utility, governance participation and on-demand liquidity.

SBTC is a liquid Bitcoin asset that mirrors BTC’s value and enables seamless use within EVM-compatible chains. STONEBTC, on the other hand, enhances SBTC by adding a yield layer, empowering users to earn yield from BTC-based strategies while preserving liquidity.

 utility by unlocking native BTC liquidity and enabling new use cases, such as cross-chain lending and borrowing, LP participation in BTC-based DeFi pools and composable integration across multichain DeFi protocols.

Together, SBTC and STONEBTC aim to position Bitcoin as an active capital layer across Ethereum and beyond.

 of StakeStone, with a total supply of 1 billion. It underpins protocol governance via OPAP proposals, voting-escrowed STO (veSTO) staking and 

Emissions are set to taper gradually until 2031, aligning incentives with long-term ecosystem growth.

According to CoinGecko, as of Apr 24, 2025, 

with a market cap of over $25 million. The token has recently shown strong momentum, rallying 85.4% over the past two weeks. Furthermore, StakeStone’s value could benefit from various catalysts, such as the rise in demand for 

 the STOUSDT Perpetual futures contract in the Innovation Zone, with up to 20x leverage.

 a Bybit account, complete identity verification and fund your 

 using crypto deposits or fiat currencies. 

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StakeStone (STO): Cross-chain liquid staking protocol

The MANTRA (OM) token’s wild crash on Apr 13, 2025, shocked the crypto world. Discover the causes, fallout, and what’s next in MANTRA’s road to recovery.

In the morning and daytime hours of Apr 13, 2025, the MANTRA blockchain's native token, OM, sat at a respectable market cap of $6 billion, making it the third-highest-ranked cryptocurrency in the 

 (RWA) category, the area the platform specializes in. Everything seemed like smooth sailing for the token.

Then, just after 6 PM UTC, the price of the OM token suddenly began to free-fall, declining from nearly $6 to about $0.50 in the space of just two hours.

A project that started the day as one of the top players in the RWA field was now worth 90% less as the evening approached. OM's abrupt, sharp crash immediately caught the market's attention, with speculation of a 

However, MANTRA's CEO, John Patrick Mullin, immediately sprang into action for PR damage control on social media, reassuring the public that the team members weren’t dumping OM tokens at all. Instead, MANTRA's founder and CEO alleged that deliberate actions of some 

 (CEXs) had caused the catastrophic plunge.

As of our coverage date of Apr 23, 2025, this is a developing story. In this article, we’ll establish what actually happened, who's involved and what awaits the OM token in the foreseeable future.

 decentralized network dedicated to RWA tokenization and utilization in compliance with real-world regulatory requirements.

 It features high scalability and low transaction fees. The project is one of the earliest initiatives dedicated to RWA use via blockchain technology. Originally, MANTRA debuted as a 

 (ETH) in August 2020. In October 2024, the project migrated to its own dedicated Layer 1 platform, the MANTRA Chain. The MANTRA blockchain is based on the Cosmos SDK framework, and is part of the wider 

The MANTRA ecosystem's main products include MANTRA DEX, a 

 (DEX); a digital identity (DID) management tool; a compliant token development and management solution; and a comprehensive compliance and permissioning system. MANTRA has also partnered with global powerhouses like Google Cloud, and with DAMAC Properties, one of Dubai's most prominent developers, to propel innovative solutions for 

Starting in late 2024, right after its own dedicated mainnet launch, MANTRA had become a significant player in the RWA corner of 

 (DeFi). By late February 2025, the platform’s native OM token had climbed to a value of nearly $9, with its market cap peaking at around $8.2 billion. Before the fateful events of Apr 13, 2025, OM was the third-highest-capped crypto in the RWA category, trading at $6.27, with a market cap of slightly over $6 billion, according to the CoinGecko portal.

In the evening hours (UTC time) of Apr 13, 2025, OM began to lose its value precipitously, dive-bombing from over $6 to about $0.52 in the space of two hours. The token’s market cap fell to slightly under half a billion dollars — a loss of more than 90%.

CEO John Mullin was quickly online, reassuring the crypto community that no team member had sold their OM holdings, and that this wasn’t a case of the bad ol’ rug pull. Instead, Mullin alluded that after OM tokens were moved to two leading CEXs (Binance and OKX) to use as collateral, the exchanges initiated a cascade of 

 of positions backed by the token. Both exchanges refuted the allegations, and connected OM’s price collapse to its recent unusually high price 

, and significant tokenomics changes made to OM in October 2024 that greatly undermined its value.

As a chain of liquidations took place, the token’s price started to plummet, causing significant panic that quickly led to further price drops. The situation only stabilized closer to the end of the day, with OM’s price remaining under $1. As of Apr 23, it’s trading at $0.5543 — a far cry from its rate of over $6 just two weeks ago.

After investigating, crypto analytics firm Lookonchain concluded that 17 wallets had deposited 43.6 million OM tokens (4.5% of the token's circulating supply) into the implicated exchanges. Two of these wallets are believed to belong to Laser Digital, one of MANTRA's investors. Another investor in the project, Shorooq Partners, is also suspected to be among the 17 wallets. Both Shorooq and Laser Digital have denied the allegations.

Although the price plunge was immediately compared to the 2022 collapse of the 

 (LUNA) blockchain, many analysts point out that the two crashes are fundamentally different. Terra's crash resulted from structural abnormalities in the 

 regulating UST, the project's stablecoin. In contrast, OM's fiasco is suspected to be the direct result of market-driven manipulation by 

, and possibly exchanges. No security breach, disruption to services or data, or other adverse structural events have occurred on the platform.

While this development is unprecedented for the project, MANTRA has been embroiled in other controversies throughout its history. One of these was its 

, first announced in August 2024 and then delayed multiple times. Around 50% of the wallets believed to be bots were cut off from the airdrop list. However, many considered the bot-culling process to have been conducted without much proof.

There have also been reports of vote rigging in the project's governance system in a bid to obscure MANTRA’s centralized model of profit allocation. Additionally, some analysts have accused the project of "forced bridging" to manipulate the market price. Platform users had to migrate their Ethereum-based OM tokens to MANTRA's native OM tokens via 

, which would increase gas fees and allow the project team to control the token's circulation pace.

How is MANTRA (OM) headed toward recovery?

MANTRA’s CEO rapidly reassured users that the team is now working hard to jump-start the token’s recovery. On Apr 14, 2025, Mullin unveiled plans to initiate a buyback scheme, along with the intent to burn all OM tokens held by the project team. The team's supply totals 300 million tokens, representing about 17% of the total supply.

He also denied factually incorrect assertions circulating online that the team effectively controls 90% of OM's supply. Mullin further assured the public that no large-scale selling events by investors have occurred.

As OM’s value has stayed firmly under $1, it remains to be seen how these PR efforts — as well as the planned buyback and burn — will affect the token’s future.

 as a swap pair with USDT, or on the Derivatives market as the 

Naturally, given the ongoing situation with the OM token, buying OM is at your own discretion, as right now the token is truly for the adventurous and brave at heart.

As of Apr 23, 2025, the OM token is trading at $0.5543, 93.8% lower than its ATH of $8.99 on Feb 23, 2025, and 3,138.8% higher than its ATL of $0.01726 on Oct 12, 2023.

Curiously, most crypto price prediction portals are optimistic about the OM token's long-term prospects. DigitalCoinPrice 

 of $1.81 in 2027 and $2.82 in 2030, whilePricePrediction 

It's hard to verify all the allegations flying around regarding the involvement of exchanges and key investors in the MANTRA OM incident. What matters at this stage is that the project team has been quick and proactive in injecting transparency and clarity into the situation.

The free fall in the token's price seems to be over by now. In fact, OM’s decline was over within hours of the incident. Moreover, unlike Terra's LUNA and UST coins, OM hasn't become worthless. All these factors point to potential stabilization and recovery ahead. The question now is: Will the pace and magnitude of the recovery be enough to save the project in the long term? At this early stage after the collapse, few people could answer the question with confidence. We'll eagerly await the developments over the next few weeks to see if MANTRA finds its way out of the woods. 

mantra om crypto.png

MANTRA (OM): Understanding its wild ride and road to recovery

Candlestick

Trading

A rising wedge signals a future falling price or a breakout to a downtrend is approaching. But is it reliable? Master how it works in 10 mins!

Rising-Wedge-Pattern-How-to-Identify-the-Selling-Opportunity.jpg

Due to its straightforward entry and exit guidelines, the rising wedge pattern is a favorite chart formation of many technical crypto traders. The rising wedge can alert traders to an upcoming top and reverse prices, as the pattern contains a distinct formation.

The rising wedge carves on all chart time frames and can develop quickly, making it difficult to spot in real-time. We’ll guide you through what the pattern looks like and how to use it for generating sell signals.

A rising wedge is a bearish chart pattern consisting of two converging trend lines, with the first line connecting the recent lower highs and higher highs, and a second trend line connecting the recent lows. 

The resulting shape looks like a triangle that is angled upward. The opposite of a rising wedge pattern is a falling wedge.

The rising wedge pattern can be interpreted as a bearish wedge as the low is overtaking the high in which the lower supporting trend line is steeper. Though the falling wedges have a similar shape, the only differences being the slope of the triangle and the implied result of the pattern.

The rising wedge (ascending) pattern in which the trading volume decreases as the wedge progresses signals the future falling prices or a breakout to a downtrend, making it a bearish pattern. The decreases in trading volume could suggest that sellers are consolidating their power for a bearish breakout despite the wedge captures the price action moving higher.

On the other hand, the falling wedge (descending) pattern has a negative slope, slanting downward and implying a rally forming nearby, making it a bullish pattern. However, the interesting part is that a rising wedge can occur during a downtrend as a continuation pattern or during an uptrend as a reversal pattern. 

The rising wedge pattern’s shape resembles that of a slice of pizza, formed when two trend lines are converging. The rising wedge pattern carves a series of higher highs and higher lows.

The resistance trend line needs to cover the extreme high points of the pattern. A minimum of two higher highs is needed for the resistance line. 

Similarly, draw a support trend line covering the higher lows. You’ll need at least two swing low points to draw the support trend line.

 trend lines, you should see a triangular shape that also looks like a wedge. A key detail of the rising wedge pattern is that the apex of the triangle needs to be pointed upward. Thus, the resistance trend line must slope upward to validate this as a rising wedge pattern.

The rising wedge pattern is generally observed after long trends, which means it can be quite useful for cryptocurrency trading. For instance, if a crypto trend has moved too far too fast, the wedge pattern may appear as a warning signal of an upcoming trend reversal.

Strong trends are the result of an imbalance between buyers and sellers. At each price, buyers and sellers are transacting. If there’s an imbalance with a lot of buyers and no sellers, then the price must readjust quickly to higher levels, which will hopefully attract more sellers into the marketplace.

If the higher pricing fails to draw in more sellers, then the price will continue to quickly readjust higher. This swift readjustment creates strong uptrends that begin to attract more buyers, who fear missing out on a powerful trend (known as FOMO, or fear of missing out).

Once this strong trend has developed, and large crypto whales are no longer interested in buying, the price will begin to correct, drawing in the FOMO buyers. Each new high sees another correction, drawing in more buyers. 

At this point, the rising wedge pattern has formed and the market is ripe for a large correction.

The rising wedge — also called an ascending wedge — is a bearish reversal pattern. This means that after the pattern completes, you can expect the market to reverse direction. As the rising wedge pattern trends upward, a bearish reversal looms nearby, changing the trend’s direction from upward to downward.

The opposite of a reversal pattern is a continuation pattern. Continuation patterns manifest as an interruption of the larger trend. Reversal patterns, however, form at the end of trends, after which the market changes direction.

There are some similarities between a wedge pattern and a 

 that may confuse crypto traders. However, there are differences that allow the trader to distinguish one from the other so they can better determine the market’s next path.

Wedge and triangle patterns both have triangular shapes because of the converging resistance and support trend lines that contain them. The major difference is that wedges form in the direction of the larger trend — upward or downward — while triangles form sideways, or horizontally. In the rising wedge example above, both the resistance and support trend lines are converging as they ascend. Similarly, the falling wedge has resistance and support trend lines that are converging as they descend.

Still, the triangle pattern has converging resistance and support trend lines, but the resistance trend line is either descending or horizontal, while the support trend line is either ascending or horizontal. 

As a result, wedges are reversal patterns, while the triangle is a continuation pattern.

What Happens After the Rising Wedge Pattern Appears?

The rising wedge appears at the end of a trend. Therefore, the next move after the ascending wedge pattern forms is a bearish reversal. 

The bearish reversal can be confirmed when the market falls below the support trend line. On many occasions, the market will correct back to the level of the origin of the rising wedge pattern.

Spotting a Rising Wedge Pattern on a Crypto Chart

The rising wedge pattern appears after a long and mature uptrend, signaling a potential reversal.

From Sept 2020 to Jan 2021, the ETH rocketed from around $300 to $1,300 in a long, strong uptrend.

The next example has two illustrations in it.

First, notice how the price action turns sideways in late January 2021. This is a triangle pattern with converging horizontal and ascending trend lines. Newer traders might mistake this pattern as a wedge. However, although it looks like a wedge, the resistance line is basically horizontal-to-downward sloping. This is a dead giveaway of a continuation triangle pattern — not a rising wedge.

Once this pattern completes, ETH begins to rally at the start of a rising wedge pattern.

Beginning Jan 31, ETH price begins to rally in choppy waves — i.e., when new highs are formed, then immediately met with a corrective trend. These choppy waves make upward progress, but it’s slow and overlapping.

When you see these choppy and overlapping waves, the next step is to add your trend lines to the pattern.

The resistance trend line is drawn so that it covers the high points of the choppiness. The resistance trend line should slant higher, as the prices are making a series of higher highs. If the resistance trend line isn’t slanting higher, then this isn’t a rising wedge pattern — and some other pattern is forming.

Once the upward sloping resistance trend line is in place, it’s time to draw the support trend line. This is drawn connecting the low points of the choppiness. The support trend line should also slant higher, as the pattern stair-steps upward, forming higher lows. If the support trend isn’t angled higher, then some other pattern is forming, different from an ascending wedge.

Now, if you have both support and resistance lines angled higher, then check to see if they’re converging. At some times this convergence is more obvious than at others. The easiest way to determine if the two trend lines are converging is by extending each of the lines to the right. If they cross each other in the future, then they’re converging — and this is a rising wedge pattern. If they don’t eventually intersect, then some other pattern is forming.

Within an ascending wedge valid pattern, you’ll find the following:

If you spot a pattern with each of these ingredients, the chances are strong that you’re looking at an ascending wedge pattern.

There are a couple of other items you might see as well, though these are guidelines and not guarantees. 

Add an oscillator to the bottom of your chart, such as the 

 (RSI) indicator. If the RSI is showing divergence, it’s another clue that this is a rising wedge pattern.

Oscillator divergence is created when the price makes a higher high, yet the oscillator makes a lower high. The price is said to be diverging from the oscillator, as the two aren’t in sync.

Another clue you may be witnessing an ascending wedge pattern may be found in the cryptocurrency’s volume.

If the volume is falling as the wedge pattern advances, then this indicates bullish whales are no longer supporting the price. In circumstances like this, the market is mature for a reversal.

One of the most obvious and lucrative rising wedge patterns in crypto was formed by Bitcoin going into April 2021. You may recall that Bitcoin was in a monster uptrend from the March 2020 pandemic low into 2021 high. It rose nearly 1,600% over this period, with bullish predictions forecasting immediate trends up pricing.

When rosy market sentiment is making traders feel positive with forecasts of skyrocketing price levels, that is an ideal spot for the ascending wedge pattern to appear. Rising wedge patterns are notorious for appearing at the end of large rallies that have carried on for too long.

After completing the bulk of the rally in early January 2021, Bitcoin began to correct for the last part of the month. Beginning in late January, Bitcoin rallied again, but this rally becomes choppy and overlapping.

The rally begins to lose momentum, and divergence with the RSI indicator appears, symptomatic of rising wedge patterns.

The resistance and support trend lines within the pattern fit the definition, as both are rising and converging. Each of these clues is present to signal the trader that a top is forming — and to be on the alert for a bearish reversal.

Trading the bearish reversal is quite easy. As the trend is shifting from up to down, the trading opportunity is to short sell the market or close out of your long positions.

The trigger for the short entry will be a break of the support trend line. Some traders will wait for the candle to break and close below the trend line before entering the trade. Other traders sell short once the price has breached the trend line by a specified amount, like 50 or 100 points.

Still, it is preferable to selling short once a specified level below support has broken. The reason is that crypto markets tend to fall and crash fast. If you wait for the candle to close, you could be missing out on a better entry point.

Once support breaks, the market is giving you a big clue: the mood of the uptrend is beginning to change to that of a downtrend.

 for a short trade will be placed just above the recent swing high. If the market breaks the support trend line and rallies up to new highs, then some other pattern is playing out and the rising wedge has failed.

Most of the time, successful rising wedge patterns will see the market correct back to the original level of the formation. In this case, the pattern begins on January 27, 2021, at $29,250. Therefore, a successful rising wedge pattern will drive Bitcoin prices lower, back to $29,000.

In hindsight, we can see that this pattern has played out well: within one month of the signal confirmation (by mid-May), Bitcoin corrects back to the origination of the pattern.

Though the rising wedge pattern can signal excellent short sell opportunities, the pattern is not 100% accurate and there are some limitations to be aware of.

First of all, the ascending wedge pattern can carve rather quickly, yet it’s difficult to confirm until the pattern has progressed nearly 2/3 of the way to completion. This means you’ll need to constantly review the market to make sure the clues and indications of the rising wedge are present.

Once the pattern is displaying many of the specified markers, then you can set up the short-sell trade opportunity as trend line breakout below the support levels. Though the pattern is easy to spot, it can be a challenge to catch it while it’s forming, as you typically won’t see the clues develop until most of the pattern is complete.

Secondly, smaller cryptocurrencies are susceptible to bad ticks and an occasional bad feed. These situations show up as extremely long wicks on the price chart patterns. When you see these wicks, it can be challenging to accurately discern what pattern is forming.

More commonly, smaller cryptocurrencies don’t have enough liquidity to maintain stable pricing. As a result, you’ll get quick price aberrations that can create long wicks. This is more likely to occur on smaller chart time frames.

In these situations, changing over to a line chart that is one or two chart frames smaller than your current one would be a better option.

That is because the line chart tends to remove the noise, enabling you to see the core pattern. Sizing down a couple of chart time frames will help you focus on the subwaves of the larger pattern.

In the Tezos (XTZ) example above, we have a 1-hour chart time frame. Several wicks can make a pattern look like a rising wedge. When you switch over to a line chart, the patterns become clearer and you can quickly discern which ones are and aren’t an ascending wedge.

However, when you switch to a line chart and size down the time frame, be careful not to size down too much. Minute chart time frames begin to lose their lucrative 

, as the spread cost of the trade tends to eat up any potential profits.

The rising wedge pattern is a favorite among traders and technical analysts, though it can be difficult to spot in real-time. In a reversal pattern, the rising wedge is often confused with the triangle pattern, which is a continuation formation.

The clear entry and exit signals the ascending wedge pattern provides make the rising wedge ideal for traders who want to short the market or use the signals to manage their long-term HODL positions.

Candlestick Patterns Professional Traders Use

 – A curated list of candlestick patterns most frequently used by traders

 – Learn the basics of candlestick patterns

 (Chart basics: trend, neckline, wedges)

Rising Wedge Pattern: How to Identify a Selling Opportunity

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Rising Wedge Pattern: How to Identify a Selling Opportunity

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