Monat: Mai 2022

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Bitcoin is still struggling to break past the $30k resistance

The cryptocurrency market has struggled over the weekend as the bearish sentiment continues.

The cryptocurrency market has lost less than 1% of its total value over the past 24 hours. The total crypto market now stands above $1.2 trillion after losing nearly $300 billion the previous week.

Bitcoin remains the world’s largest cryptocurrency by market cap and has been struggling in recent months. At press time, Bitcoin is trading at $29,683, down by 11% over the last seven days.

The leading cryptocurrency has been struggling to regain its value above $30k since dropping below this crucial threshold for the first time this year a few days ago. The Terra crisis has affected the broader cryptocurrency market, and numerous cryptocurrencies are yet to embark on solid recoveries.

If the bearish sentiment continues, Bitcoin could continue to struggle below the $30k psychological level over the coming days.

Key levels to watch

The BTC/USD 4-hour chart is currently bearish as Bitcoin has underperformed in recent days. The technical indicators show that the bearish sentiment could grow thicker in the coming hours.

The MACD line has been below the neutral zone since the 5th of May. The MACD reading currently stands at -75, indicating a bearish trend for Bitcoin. 

The 14-day relative strength index of 49 shows that Bitcoin could drop into the oversold region if the recent market momentum is maintained.

Bitcoin could drop below the first major support level at $28,447 before the end of the day. However, the leading cryptocurrency should maintain its value above the $27,500 support level in the short term.

If the bulls regain control of the market, BTC could rally past the first major resistance level at $31,352 over the coming hours or days. Unless there is an extended bullish performance, the second major resistance level at $35,152 should cap further upward movement over the next few days.

The post Bitcoin is still struggling to break past the $30k resistance appeared first on Coin Journal.

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Highlights May 16: Cryptos mixed, Bitcoin comeback expected?

The crypto market as a whole was mixed at the time of writing. Bitcoin is showing signs of a comeback.  

Top cryptos

It is not much as comebacks go, but it’s still something for Bitcoin. Like all major cryptos, it was hammered last week by the toxic mix of rising interest rates, geopolitical unrest, the LUNA disaster, and recessionary fears.

Bitcoin was trading around $30,000, relatively flat over the past 24 hours and roughly 16% from Friday’s $26,600 depth.  

Ether, the second biggest crypto, is changing hands at about $2,050 after dropping below $1,800 last week for the first time in two months. 

Most major altcoins were in the green on Sunday, reversing some losses as the crypto market cap tumbled by $300 billion. 

Cardano is rising in the ranks, up just under 7% and ranking seventh by market cap at the time of writing. Solana rose more than 10% at one point over the weekend and is right behind ADA with gains of almost 8% in the last 24 hours.  

Cryptos outside the top 10 were unremarkable. Crypto.com’s Cronos is showing signs of recovery. It added 3% to its value today. 

Top movers

Outside the top 20, the most notable gainers are Cosmos, NEM, and Decred, each up 11%. Cosmos is surging on news of the the launch of the Gateway to Cosmos Conference and Hackathon. 

NEM hinted at a new SuperNode program on the horizon. 

There is no specific reason for the surge of Decred, other than an affinity for highly decentralized and secure tokens. There is no way for big Decred holders to manipulate the operation of the protocol. 

Arweave is the biggest winner of the day with an increase of 16%. It is rallying because of newfound appreciation for immutable permanent storage, in part related to the situation with Terra.  

The biggest losers of the day are Kadena and Decentraland with 8% each, Kusama and Gala with 9% each, and Helium, The Graph, and Maker with 10% each. 

STEPN is second only to TerraUSD in losses today. Its token GMT, which is among the more volatile in the top 100, is down 12%.    

TerraUSD has lost another 14% in the last 24 hours. It is now trading for 16 cents. Terra founder Do Kwon announced plans to bring it back up to $1, when its peg to the USD was intact. 

Trending

The biggest winner today is the token of Ethos Project, which bills itself as the primary method of payment for audit and development services. 

The ETHOS token is incorporated into Ethos projects and holders may receive token and NFT airdrops from partner projects. 

You can stake ETHOS tokens from PancakeSwap on Ethos Farming Portal and potentially earn a reward. ETHOS token is up 1,011% in the last 24 hours.  

LUNA is the top trending coin on Coinmarketcap today, but that’s the extent of positive news. It has lost another 23% in the last 24 hours and ranks below #200 by market cap.   

The post Highlights May 16: Cryptos mixed, Bitcoin comeback expected? appeared first on Coin Journal.

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Will Terra recover? Expert analysis, price prediction, and where to buy Terra

Terra Luna Image on a cell phone screen

The price of Terra’s token LUNA was as $100 per 1 LUNA in April, but it crashed to near zero last week. TerraUSD (UST), Terra’s algorithmic stablecoin, lost its peg to the US dollar. 

This occurred against the backdrop of a significant crypto market decline, which sent Bitcoin’s price down by over 20%.

Now that Terra has lost 99% of its value, is there any hope for recovery? Its founders are making an effort to get it back up and running, which you’ll read about below. 

If you are attracted to unique features and want to learn how and where to buy Terra, this guide is for you. 

Top places to buy Terra now

Bitpanda

BitPanda is a Bitcoin broker based in Austria. It offers a wide range of payment methods and has good prices.

Buy LUNA with Bitpanda today

Celsius

Celsius is proud to provide a platform of curated services that have been abandoned by big banks – things like fair interest, zero fees, and lightning quick transactions. Our goal is to disrupt the financial industry, one happy user at a time, and introduce financial freedom through crypto.

Buy LUNA with Celsius today

What is Terra?

Terra Luna is a crypto project created by Terraform Labs, a tech company based in Singapore. Its purpose was to generate crypto adoption by building a set of algorithmic decentralised stablecoins required to carry out DeFi transactions. 

Terra reanimation action plan 

Terra’s founder Do Kwon has a plan to reanimate the coin. The first part of the plan involves a huge burn of the stablecoin TerraUSD (UST-USD) to bring it back to $1.

They plan to burn more than 371 million UST on the Ethereum Mainnet and any UST left in the Terra community pool. 

The second part is to stake 240 million LUNA tokens to stop whales from seizing control and to stabilize network governance. 

In addition, developers halted the Terra blockchain and suspended all pending transactions. This was to keep people from buying up LUNA at its extremely low price.

Should I buy Terra today?

Considering how hard it is to come up with an accurate cryptocurrency prediction, you should never make any decisions affecting your finances before an in-depth market analysis. Don’t invest more than you can afford to lose. 

Terra price prediction

Many investors have become pessimistic about Terra’s prospects. According to the Motley Fool, it’s best to steer clear of the project despite the token’s low price.

Digital Coin Price and Coin Price Forecast see little hope for LUNA, forecasting an end-of-year price of below 1 cent resp. 6 cents.

However, other experts beg to differ. Investing Cube believes it is possible for LUNA to recover. If the stablecoin goes back to $1 again, LUNA will start gaining. 

Wallet Investor has not adjusted its bullish prediction for LUNA from before the crash. They predict 1 LUNA will trade for $151 in May 2023. Finally, Gov Capital anticipates LUNA to be worth $108 a year from now. 

Terra on social media

The post Will Terra recover? Expert analysis, price prediction, and where to buy Terra appeared first on Coin Journal.