Monat: März 2022

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EOS falls below crucial support zone – Here is why we will see more weakness

EOS (EOS) has been on a downtrend for the most part of this year. The coin managed to see a few rallies, but the general trend has been on the south. The coin has recently fallen below a crucial support zone. Here is what we know so far:

  • EOS has fallen below $2.09, a crucial support zone over the last few days.

  • The coin was trading at $1.95 at press time, down around 4%.

  • We expect EOS to retreat towards $1.85 before its next leg up.

Data Source: Tradingview 

EOS (EOS) – Will the downward trend reverse

There were some signs last month that EOS had started to turn a corner. The coin in fact rallied quite significantly, at some point testing the $3 mark. But things have not been smooth sailing ever since. As the crypto market comes under severe pressure, we have seen EOS drop even further. 

However, most analysts were looking to see if the token would hold the $2.09 support zone. While bulls tried to defend this threshold fiercely, the weakness was just too much. As a result, EOS is now trading at $1.95, and we expect weakness to continue in the coming days. 

The token is likely to fall and start consolidating at around $1.85 before it finds its next leg up. But if bulls are not able to defend $1.85 sufficiently, we may see further drops in the near term.

Why you should buy EOS?

EOS (EOS) is a highly scalable blockchain that is used to launch and deploy decentralized applications. With a market cap of around $1.9 billion, it is indeed a promising long-term project that could offer immense value for any investor. 

Even though EOS has seen some weakness in recent days, the long-term outlook, especially over a year or so, still remains very good.

Want to learn how to safely invest in EOS? Check out our comprehensive EOS buying guide here or purchase from our recommended platform below!

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The post EOS falls below crucial support zone – Here is why we will see more weakness appeared first on Coin Journal.

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Waves (WAVES) retreats after skyrocketing over the last week – Here is what you need to know

As most coins struggled this week to put up any decent upward momentum, WAVES was quite literally making waves. The coin, in fact, saw staggering gains of about 100% after the new Binance announcement. But so far, WAVES has somewhat retreated. Here is what we know thus far:

  • Binance announced that it would start accepting WAVES as collateral on its loans.

  • The coin surged nearly 100% to hit highs of around $20.5.

  • WAVES has since retreated slightly and is now trading at around $18.

Data Source: Tradingview 

WAVES Price action and analysis

The Binance news was quite frankly a big one, and it showed in the pricing. Even as the broader crypto market slowed in performance, WAVES reported staggering gains. However, we have seen the price retreat from $20.5 to $18. We expect this to continue before WAVES stabilizes around the $15 mark.

But there are some risks to keep in mind. The rally this week has put WAVES on a risky death cross. This is when the long-term moving average of a crypto coin goes above the short-term average. The death cross creates a high risk of a significant pullback in the price. 

In fact, the last time WAVES entered a death cross was in 2018, and the coin crashed by nearly 85%. Now, we are not saying this will happen. But a more significant pullback on the coin will come, no doubt.

Is WAVES good for long-term investing?

The answer is yes. WAVES is associated with the Waves Protocol, a decentralized open-source platform designed for the creation and deployment of scalable apps. 

The project has raised a lot of money from investors and is making very serious moves on the metaverse. All these things will go a long way in delivering value for the long-term holders of this asset.

Want to learn how to safely invest in WAVES? Check out our comprehensive WAVES buying guide here or purchase from our recommended platform below!

Buy WAVES here>


The post Waves (WAVES) retreats after skyrocketing over the last week – Here is what you need to know appeared first on Coin Journal.

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Bitcoin (BTC) has fallen for five consecutive days now – Where does it all end?

The crypto market has slumped in the last few days. Bitcoin (BTC) has in fact dropped for four consecutive days now despite threatening to return to $50,000 in recent days. But is this downtrend temporary, and how far can it go? Well, here are some highlights first.

  • The weakness came as China reaffirmed its commitment to crack down on crypto.

  • Increased volatility due to the war in Europe is also a big risk factor.

  • Bitcoin (BTC) is likely to fall to $35,000 before finding enough demand to rise again.

Data Source: Tradingview

Bitcoin (BTC) – What to watch next?

From a technical analysis point of view, the most important thing to watch right now is the $35,000 support. This price has proved very resilient in recent weeks, and it is likely BTC will hold above it. At press time, the mega-cap coin was trading at $38,800. 

If we see increased bear pressure that pushes the coin below $35,000, the next support zone will be $32,000. There are also some additional fundamental factors to watch. The crypto crackdown in China is the main thing, but most investors were expecting it. The war in Europe however has escalated fast and could trigger more volatility in the market in the near term. 

But if BTC can somehow pull up above $40,000 and keep the price action there, then we may see some positive moves in the coming week.

Why This Is the Right Time to Buy BTC?

Bitcoin (BTC) has declined quite substantially from its all-time highs. There are in fact, warnings that the coin could fall further during the first quarter of the year. But the long-term outlook for the mega-cap still remains very positive. In that case, the price pullback we have seen so far in 2022 offers the ideal opportunity to get in.

Want to learn how to safely invest in Bitcoin? Check out our comprehensive Bitcoin buying guide here or purchase from our recommended platform below!

Buy Bitcoin here>


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Currency.com donates $1M to Ukraine

Dynamically growing international crypto exchange Currency.com announced it has donated a total of $1million to support Ukrainians during the humanitarian crisis in their country, the exchange posted on its website. Currency.com has transferred the funds immediately.

Funds distributed to 4 charities

The funds will be distributed to ASAP Rescue, The Red Cross Society of Ukraine, Global Giving, and the Humanitarian Relief Fund under the Ministry of Social Policy.

Steve Gregory, US Chief Executive Officer of Currency.com commented:

Our hearts go out to the citizens of Ukraine who are engulfed by this war. Many have had to flee their homes amid freezing temperatures, power cuts and food shortages. Every day is a struggle to survive. We want to help where we can.

Exchange contributes half a million to emergency relief

Currency.com is contributing $500,000 to support the Red Cross Society of Ukraine and the country’s health ministry’s joint emergency relief efforts. The money will be used to buy basic amenities and provide medical aid to displaced Ukrainians.

$300K to be spent on food and shelter, $200K on evacuation

The rest of the funds will be distributed as follows: Currency.com will donate $300,000 to the Ministry of Social Policy and Global Giving to help people get access to food, shelter and medical care.

The last portion of $200,000 will be donated to ASAP Rescue, a Ukrainian volunteer organisation that helps evacuate residents during times of social turmoil or when natural disasters strike.

Gregory added:

Like everyone in the world, we are extremely concerned about the shocking events taking place in Ukraine. As a global company with an international team, we feel it is our duty to help those impacted by this war. We will continue to monitor events closely and stand ready to provide additional support to the people of Ukraine.

 

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