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But hold your horses, my dear reader. We’re not out of the woods yet. The RSI is currently sitting pretty in overbought territory (above 86, mind you), so there’s a good chance we’ll see some consolidation or a pullback near that pesky $0.52 resistance zone before any more fireworks. However, should the bulls defend the breakout zone around $0.33–$0.36 as new support, we could very well be looking at a more sustained rally. The plot thickens, doesn’t it?
It’s not all just technical wizardry, of course. The driving force behind this explosive rally seems to be a combination of investor interest, ecosystem growth, and a notable surge in on-chain activity. Oh yes, and let’s not forget about the stablecoin supply—surging to a record $647 million in mid-June, up from a meager $44 million earlier in the year. That’s not pocket change, my friends. Alongside this surge in stablecoin volume, futures open interest jumped to $345 million—the highest since January. Oh, the drama!
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2025-07-14 14:38