Monat: September 2022

Veröffentlicht am

Is it now the time to buy Solana after the MACD crossover?

  • Solana is a leading smart contract platform.

  • Helium is going to vote to migrate to the Solana ecosystem

  • SOL, the native token, has been recovering

It has been relatively quiet for Solana and its native token, SOL/USD. Since mid-August, the cryptocurrency has been largely bearish. That was after breaking below the 20-day and 50-day MA, breaching an ascending triangle. 

In a quick drop, SOL touched the $30 level in late August. It has made recoveries lately and trades at $34. The recovery has been happening since Helium announced that it was migrating to the Solana network. Helium developers stated that the reason for the migration was to boost its speed, stability, and scalability. The Helium Foundation is expected to hold a community vote starting September 12 on the planned move.

The migration will underline Solana as a leading smart contract network. Solana has already been touted as a leader for DeFi, NFTs, and decentralized apps. Of course, Solana will need to attract more users to send positive signals about its role as an Ethereum killer. The network will also need to strengthen the security features which hackers have targeted.

Solana price action, trend, and momentum

Source: TradingView

On the daily chart, the MACD line crossed above the moving average. The cryptocurrency has also moved above the 20-day moving average. However, we remain cautious in making a bullish call on SOL.

Although the momentum is building, SOL is weak, and the trend is bearish overall. Trading volumes remain low, suggesting that the momentum will unlikely be sustained. Besides, SOL trades below the $42 resistance. The resistance is the key barometer to assess whether a lasting bullish momentum is likely. 

Summary

SOL is not yet a buy at the current level. The cryptocurrency has to build sufficient momentum, followed by a breakout above $42.

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

Buy SOL with eToro today

Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

Buy SOL with Capital.com today

The post Is it now the time to buy Solana after the MACD crossover? appeared first on CoinJournal.

Veröffentlicht am

ATOM prediction as price pumps ahead of Cosmoverse conference

  • Cosmos blockchain connects other networks.

  • The Cosmoverse is expected to occur between September 26-28.

  • ATOM has maintained recovery since June and recently broke past a resistance.

Cosmos ATOM/USD has maintained an upward momentum since June. Even as most cryptocurrencies fell, ATOM largely kept prices above the 20-day and 50-day MA. The upside has underlined buyers’ interest in the ecosystem. This week, ATOM has surged by nearly 30%, initiating a key breakout that could see more buyers enter.

Cosmos is referred to as “the internet of blockchains” since it connects separate networks. The gains since June illustrate the recovering crypto sector. As cryptocurrencies started to recover, the shared model of Cosmos could be attracting liquidity to the network. That could have been the reason behind the prolonged recovery of the native token ATOM.

The Cosmoverse conference is another event that is fueling the latest gains. The event, which will occur between September 26 to 28, is expected to usher in various development updates. To a technical reader, ATOM price action shows important signals that offer momentum clues.

ATOM surges after a bullish breakout at the resistance zone

Source – TradingView

ATOM rose past the $12.3 level on September 8 in a bullish breakout. The cryptocurrency trades at $15.9 after slowing down following the breakout surge. All moving averages and MACD indicators reveal a strong and increasing bullish momentum. 

The next level for ATOM is $20. The token could correct slightly at the current level before the bullish surge continues. Investors should consider buying on a retracement at or close to $12.3 or moving averages.

Summary

ATOM will likely continue gaining ahead of the Cosmoverse conference after the latest breakout. The cryptocurrency aims for the $20 level. We recommend buying on a potential retracement. The nearest support is $12.3.

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

Buy ATOM with eToro today

Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

Buy ATOM with Skilling today

The post ATOM prediction as price pumps ahead of Cosmoverse conference appeared first on CoinJournal.

Veröffentlicht am

Shiba Inu clears $0.0000125 resistance but is the token a buy?

  • Shiba Inu token has risen above a key resistance

  • Price has been surging in the past week

  • Shiba Inu team teased the Metaverse WAGMI Temple last weekend

Shiba Inu SHIB/USD is witnessing increased buying pressure. As of press time, the trading volume of the meme token was up 102% in the last 24 hours. That’s despite the price cooling by 4% after the latest gains. Bulls could be taking a break after SHIB breached the $0.0000125 resistance.

Once again, welcome to the Shiba Inu metaverse – the project that is anticipated to take SHIB to the moon. On September 3, Shiba Inu teased fans with the Metaverse WAGMI Temple, a mock of its virtual reality world. The “zen-like” universe comes with natural beauty and sensations. It also allows spiritual connections to the outer world, reads the Shiba Inu blog.

There is a lot of enthusiasm that Shiba Inu’s metaverse will be a true evolution. It marks the beginning of its steps to get rid of the meme tag by having real utilities of the native token. The WAGMI temple illustration reignited the hopes of the metaverse dream. 

Shiba Inu price and prediction

It is early to ascertain that the virtual reality illustration boosted SHIB’s price. However, we know how much of an impact slight news can impact SHIB price. Technical points already show a breakout has occurred.

Source – TradingView

A technical outlook of SHIB shows a breakout has occurred at the key resistance. The token trades at $0.000013, slightly above the breakout zone. The price has also crossed above the 20-day and 50-day MA. The MACD indicator is also turning bullish. What next?

Final thoughts

A break above $0.0000125 builds a bull case for SHIB. However, a breakout has been followed by the formation of tailed bars. It illustrates bull exhaustion. Likely price behavior is consolidation. Watch for bullish signals.

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

Buy SHIB with eToro today

Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

Buy SHIB with Capital.com today

The post Shiba Inu clears $0.0000125 resistance but is the token a buy? appeared first on CoinJournal.