Monat: Oktober 2022

Cryptocurrency prices have remained in a consolidation phase in the past few weeks. Bitcoin has been stagnant at $20,000 while ETH has stayed at $1,300. This trend has frustrated traders who prefer highly volatile periods. Here are some of the top undervalued cryptocurrencies to trade this week.

Reserve Rights Token (RSR)

Reserve Rights Token or RSR is the native cryptocurrency for the Reserve ecosystem. The developers have created a stablecoin that is backed by a basket of other stablecoins like Tether and USD Coin. The network is backed by well-known players like Peter Thiel, Coinbase, and Sam Altman among others. 

RSR price has become relatively volatile in the past few days as investors wait for the upcoming mainnet launch, which will happen this month. It was trading at $0.0096 on Tuesday, which was slightly below this month’s high of $0.010. It has risen by more than 195% from its lowest level this year.

Therefore, there is a likelihood that Reserve Rights will continue being volatile this week, making it ideal for day trading.

How to buy Reserve Rights Token

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.

Buy RSR with Binance today

KuCoin

Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies. Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods. Users can benefit from a beginner-friendly interface and relatively low fees.

Buy RSR with KuCoin today

Injective Protocol (INJ)

Injective Protocol is a venture-backed platform that was created to disrupt the finance industry. It is backed by Binance, Pantera, Jump Crypto, and Mark Cuban. INJ, its native token, has a total market cap of over $159 million.

Injective is a blockchain project that developers will make it possible for developers to build DeFi apps. In September, its token saw substantial movements as demand for the ecosystem rose. 

The most important catalyst was the launch of Project X, a project that introduced Automated Market Makers (AMM) with 0 impermanent loss. It also has storage vaults for market making and passive yield generation. Project X also won the Most Promising Launch award at the Cosmoverse event.

Another event that moved Injective was the launch of Helix, previously known as Injective Pro, launched on the network.

Vibrate (VIB)

Vibrate is another undervalued cryptocurrency to trade in October. It is a blockchain project that seeks to disrupt the music industry. It lets people do research on musicians and venues. 

At the same time, it has deep analytics products that provide data on musicians, venues, their social media performance, and audience demographics. It uses a freemium approach, with its premium version going for 108 euros per month. 

Therefore, event managers can use this data to make bookings and predict ticket sales when making bookings. VIB, its native token, has become one of the most active cryptocurrencies recently. It has risen by more than 770% from its lowest level this year.

How to buy Viberate

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.

Buy VIB with Binance today

Swapzone

Swapzone is a crypto exchange aggregator that operates as a gateway between the cryptocurrency community and exchange services. Swapzone aims to provide a convenient interface, safe user flow, and crystal-clear data for users to find the best exchange rates among the whole cryptocurrency market.

Buy VIB with Swapzone today

The post Top 3undervalued cryptocurrencies to day trade this week appeared first on CoinJournal.

Litecoin price has been in a tight range in the past few days as the market participants waited for the next catalyst. LTC has risen in the past two straight days and is trading at $54.76, where it has been in the past few days. It remains about 19.3% below the highest level in September.

Litecoin consolidation continues

Litecoin had a mild performance in September even as market conditions remained volatile. In September, American stocks crashed by more than 10%, with indices like the Dow Jones, Nasdaq 100, and S&P 500 retreating.

At the same time, the US dollar index (DXY) surged to the highest level in more than 20 years. Other key indices signaled at potential risks in the market. For example, the closely watched VIX index, which is a measure of volatility, soared to more than $32 while the fear and greed index dropped to the fear zone.

All these numbers signal that Litecoin did well in a difficult market. The same is true for other cryptocurrencies like Bitcoin and Ethereum. 

The main catalyst for Litecoin in September was Ethereum Merge, which transitioned it from a proof-of-work (PoW) to a proof-of-stake (PoS). Since this was the biggest event in the blockchain industry, most cryptocurrencies reacted to it. 

Looking forward, there will be no major cryptocurrency-focused event of the magnitude of the Merge in October. Therefore, investors will continue to focus on the broader market issues like inflation and monetary policy. 

This week, the US will publish the latest jobs numbers. Analysts expect the data to show that the country’s economy added more than 300k jobs in September. As such, with inflation at an elevated level, there is a likelihood that the Fed will continue hiking interest rates.

Litecoin price prediction

The daily chart shows that the LTC price has been in a consolidation phase in the past few days. It has remained between the important support and resistance levels at $46.3 and $67.35. The coin is still hovering at the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved to the neutral point at 50.

Therefore, there is a likelihood that Litecoin will remain in this tight range in October. A move above the resistance at $67 will mean that there are more buyers left while a drop below the support at $46 will mean that there are more sellers in the market.

How to buy Litecoin

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy LTC with eToro today Disclaimer

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 LTC with Skilling today Disclaimer

The post Litecoin price prediction for October 2022 appeared first on CoinJournal.