Bitcoin-Minern stehen schwierige Zeiten bevor: Ein Indikator gibt Warnsignale zum Ende des Monats.
Ripple-Führungskraft: FTX-Zusammenbruch „unglaublich schädlich“ und Krypto braucht echten Nutzen
Der APAC Policy Director von Ripple sagt, der Zusammenbruch von FTX sei genau der Grund, warum Krypto sich von Hype-Zyklen entfernen und einen „echten Nutzen“ aufbauen müsse.
Cardano hits a new milestone, but where are the buyers?
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Cardano native token lost 3% in 24 hours.
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Cardano hit the highest level of assets minted on the blockchain.
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ADA remains on a downtrend and could find lower levels.
The number of assets minted on the Cardano (ADA/USD) blockchain has hit a new milestone of 7,055,456. The increase in the native assets comes after the Vasil hard fork in September. It shows the impact the upgrade has played on attracting users to the Cardano blockchain.
Further statistics show that as of November 25, the number of projects building on Cardano was 1,146. According to Cardano Weekly Report, there were over 55.3 million transactions on the blockchain as of the date. In summary, there are 106 projects launched on the blockchain and 3,759 Plutus scripts.
However, the increase in activity on Cardano has not been reflected in the price. As of press time, ADA was trading down 3% in the last 24 hours. A technical outlook shows that ADA is on a sustained downtrend.
ADA on a downtrend amid increased on-chain activity
Technically, ADA is bearish. The cryptocurrency trades near its lowest level on a descending channel.
Momentum is weak for ADA, with the MACD indicator remaining below the neutral zone. The RSI is near the oversold level, with a reading of 35.
Is the bottom near for ADA?
There is no clear bottom price for ADA. Although activity is building on the blockchain, investors are still cautious of the native token as the bear market ravages.
For a potential bullish reversal, ADA buyers must counter the bearish channel. The key level to watch for a bullish reversal is $0.42. This is the established resistance where the ADA price formed multiple bottoms before crashing lower.
Where to buy ADA
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.
OKX
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
The post Cardano hits a new milestone, but where are the buyers? appeared first on CoinJournal.
Litecoin prediction as price corrects above a breakout zone
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Litecoin has corrected 6% after a bullish week
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Crypto analyst Peter Brandt thinks LTC printed a bullish pattern
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The cryptocurrency remains bullish and could embark on an uptrend after the correction.
Litecoin (LTC/USD) has been gaining strength in the last one week. As CoinJournal reported, the recovery could be contributed by the next Litecoin halving event. The gains saw it initiate a breakout that has been pushing prices higher. However, the price of LTC is correcting, with an intraday loss of 6%. Will the downturn continue?
Veteran crypto trader Peter Brandt believes LTC has initiated a classic charting pattern for an upside. According to the analyst, the appearance of a bullish double pattern followed by an uptrend is a major trend change signal. Brandt says LTC completed the same pattern in November before embarking on a rally that returned 65%.
Brandt further explains why the double bottom for LTC is a classic one. He says, often, traders tend to mislabel double bottoms. In his view, double bottoms need months between lows. He says the depth of the pattern should be more than 20% of the price of the market.
LTC corrects slightly after a bullish breakout
A technical outlook shows that LTC buyers are still in control despite the price slowing from the $80 level. The daily chart shows a short-term bullish trendline has developed since the double bottom at $50.
The MACD indicator is bullish. The RSI has slowed slightly since the cryptocurrency hit overbought levels as the price reached $80. The bulls are still in control as the RSI remains above the midpoint.
What next for LTC?
Litecoin price is in a correction phase rather than a bearish movement. $64 will remain the reference support should LTC continue to correct downsides. However, the area around $70 should also form a crucial bullish reversal zone.
LTC price target remains at $95 in the medium term. This is the established resistance zone. Investors can hold or buy LTC to the level as long as the bullish momentum remains.
Where to buy LTC
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.
OKX
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
The post Litecoin prediction as price corrects above a breakout zone appeared first on CoinJournal.
What crypto analyst Benjamin Cowen thinks of BTC before a reversal occurs
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Bitcoin could undergo another Capitulation event around Christmas – Cowen
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The cryptocurrency is consolidating but lacks an upside momentum
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BTC price could break into upside or downside
When will Bitcoin price (BTC/USD) bottom-up after slipping below the crucial $19,000 level? Crypto analyst Benjamin Cowen believes Bitcoin has to undergo one capitulation event before a price reversal. Cowen examines the historical patterns to explain when this is likely to occur.
Cowen points out that the final capitulation event will occur around Christmas this year. A capitulation event occurs when a sizable portion of investors succumb to bear pressure and sell their holdings. Capitulation events are characterised by unusually high trading volumes coinciding with sharp price falls. When the price reaches its lowest point, it signals a market bottom that ushers in a bullish move.
Relating to the historical patterns, Cowen says that Bitcoin bear markets last around a year. In 2014, he says, the bear markets lasted 14 months, while in 2018, it was 12 months. Thus, if the current one is to reflect historical patterns, the dates around December 25th, 26th, and 27th, could be.
Bitcoin has been very choppy heading to this important prediction at year-end. Cowen thinks that $15,000 is the balanced price for Bitcoin. The analyst says that the cryptocurrency has to fall below this level to hit bottom. That will prompt attempts to recapture the fair value.
BTC outlook as price consolidates at $16,000
On the daily chart, Bitcoin is choppy and consolidates around $16,000. The MACD indicator is in the bearish zone. The RSI remains below the midpoint, indicating that the sellers are in control.
What next for BTC?
Bitcoin lacks a directional bias. Although bulls have continually defended $16,000 successfully, they are unable to take the price higher. That’s despite the recent Fed statement indicating slower rate increases.
With the current choppy trading pattern, Bitcoin can go either way. Just as Cowen predicted, BTC could claim a new bottom. For that to happen, the price must break below the $16,000 support zone.
Where to buy BTC
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.
OKX
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
The post What crypto analyst Benjamin Cowen thinks of BTC before a reversal occurs appeared first on CoinJournal.