Nach dem Kollaps der FTX nutzen die Geschäftsführer von 3AC die Gelegenheit, die Verantwortung für das eigene Scheitern von sich zu weisen.
XRP eyes a breakout as lawyer makes a prediction on Ripple case with SEC
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Crypto lawyer expects a sweeping ruling in Ripple case with SEC
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XRP has met resistance at $0.40
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The cryptocurrency is bullish but needs a breakout for further gains
Ripple (XRP/USD) has been trading on short-term bullish momentum but within a tight range. That has seen the cryptocurrency hit resistance at $0.40, a level it has held for a few days. From there, it’s just one more bullish trigger, and XRP will break out. There are developments worth noting that could cause such price action.
As you already know, Ripple’s case with the US Securities and Exchange Commission is entering a crucial stage. CoinJournal reported that lawyers expect the case to be settled very soon. Another crypto legal expert has thrown his views on the case.
Attorney James K. Filan expects the US District court to make a sweeping ruling in a summary judgement. He believes there won’t be separate rulings on the sealing issues, including the Hinman materials. Filan says this is the standard practice from the previous rulings, including a case that involved Goldman Sachs. If the prediction turns out to be accurate, we could see the case settled early on, as speculated.
Meanwhile, the latest Coinbase cryptocurrency news has raised fresh speculations. Coinbase says it will remove some crypto assets, including XRP, from its wallet beginning in January. The US crypto exchange cites low activity of the tokens. The development has made the crypto community speculate that the case with SEC will be delayed or Ripple will be defeated. But how is XRP behaving?
XRP corrects slightly at key resistance
An intraday loss of 2% allows bears to push XRP back to the ascending trendline. The RSI has fallen below the midpoint on the entry of sellers. However, the momentum is still bullish for XRP at the key resistance.
Should you buy XRP?
Most of the expectations about Ripple’s case with the SEC are speculation. However, it is a truth that the case is taking an important twist that will be watched in December. Bulls should stay alert at the $0.40 level, as a potential breakout could occur on positive developments.
Where to buy XRP
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 XRP eyes a breakout as lawyer makes a prediction on Ripple case with SEC appeared first on CoinJournal.
Jasmy token attempts breakout at 50-day MA. Should you buy it now?
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JasmyCoin has recovered by double digits in a week
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The token has hit a descending trendline
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JASMY could correct in line with the longer-term bearish momentum
JasmyCoin (JASMY/USD) saw rising trading volumes on Friday amid a mixed cryptocurrencies trading. The token, ranked lowly at #543 on CoinMarketCap, has witnessed a 13% surge in the past week. The weekly gains now take bulls to an important level that would determine if investors will see further gains.
JASMY is the native token of the Internet of Things’ Tokyo-based firm Jasmy Corporation. The company enables the buying and selling of data by connecting service providers and users. From the decentralisation perspective, the Jasmy platform allows users complete control of their personal information. This is enabled by enabling IoT through blockchain technology. In short, Jasmy aims to provide a platform where users can freely, easily, and safely move data.
JASMY saw increased interest in 2021 at the height of the crypto boom. It has since crashed and trades at just $0.004. The price compares to a high of $0.35 in November 2021 – a significantly depressed price level. With the renewed gains, how far can this token go?
JASMY meets resistance at the descending trendline
The technical outlook shows that JASMY has met resistance at the descending trendline and 50-day MA. Since August, JASMY has always been rejected at the descending trendline. Although bulls are attempting a break above the 50-day MA, they are under bear pressure.
The MACD indicator shows improving momentum for JASMY. Nonetheless, we see that the token has always corrected anytime the MACD has approached the neutral level since August.
What next for JASMY?
The bear momentum is in place for JasmyCoin despite the weekly recoveries. To buy the cryptocurrency, wait for the price to break above the descending trendline or the 50-day MA.
The bullish expectation could be invalidated if the past price action of the cryptocurrency repeats itself. Bulls should keep off for now until the cryptocurrencies sentiment improves.
Where to buy JASMY
Coinbase
Coinbase is a global cryptocurrency exchange. Its platform is well designed for beginner investors and it offers a wide range of coins, as it has over 100 to choose from. Coinbase has high level security built into the platform, a range of diverse features to use and it offers its users options for storing their crypto, such as being able to store coins on the Coinbase exchange.
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.
The post Jasmy token attempts breakout at 50-day MA. Should you buy it now? appeared first on CoinJournal.
Cardano predicted a further 60% decline. Does the price action show this?
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Crypto analyst Benjamin Cowen expects ADA to fall another 60%
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The cryptocurrency has been on a downtrend since August amid growing on-chain activity
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ADA could claim lower levels
If you have been thinking of buying Cardano (ADA/USD), it could still be too early. According to popular crypto analyst Benjamin Cowen, ADA prices could fall by another 60%. The token traded at $0.31 at press time, meaning that Cardano could touch $0.12 per the prediction. Why does Cowen think so?
In a message to his more than 770,000 subscribers, Cowen says ADA faces a bear market resistance band. The resistance has rejected any price recoveries. The analyst believes ADA is one bear cycle behind Ethereum. The latter witnessed about a 95% decline in its first bear market. According to Cowen, ADA could witness “diminishing losses” that could take it down 94% or 95% from its all-time high.
The latest comments come even as Cardano continues to witness growing development activity. According to December 1 Santiment data, Cardano saw the highest development activity in the past 30 days. The data indicated that Cardano was 18% ahead in terms of development, ahead of the closest competitor, Polkadot. Interestingly, the activity has not been reflected in the price as ADA remains on a downtrend. Still, investors can be optimistic that the development activity is a precursor for future gains in ADA.
ADA on a descending channel amid a bear momentum
The daily chart shows Cardano is bearish. The cryptocurrency has maintained a descending channel since August. The momentum is still weak, as shown by the price printing, a system of lower highs and lower lows. The RSI remains below the midpoint, indicating that bears are many for the cryptocurrency.
Should you buy ADA now?
Just as Cowen thinks ADA price will trade further lower, the technical outlook supports it. Only that it does not indicate where the likely bottom price for ADA.
To a technical reader, we need the price to settle at support, followed by a bullish price action to consider ADA a valid buy.
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 predicted a further 60% decline. Does the price action show this? appeared first on CoinJournal.
Polygon’s MATIC becomes bullish. When to buy the token?
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Polygon has onboarded Indian retailer Flipkart for Web3 expansion
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The native token has hit a resistance
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A breakout is on the horizon if buyers continue to push the price higher
Polygon (MATIC/USD) bulls have successfully defended $0.77 against the bear insurgence. The token initiated a recovery at the crucial support zone and traded at $0.91 as of press time. MATIC must overcome a minor resistance of $0.96 to see further gains.
Once again, MATIC price is showing resilience amid growing adoption. On December 2, India’s leading e-commerce entity Flipkart announced a collaboration with Polygon. The collaboration will see Polygon help deploy a blockchain-based e-commerce platform for the retailer. The firms will also collaborate on research on other use cases of blockchain, Web3, and the metaverse.
Despite MATIC falling by 2% on the day after hitting resistance, the partnership is a validation of the Layer-2 solution. Already, Polygon is attracting interest from firms seeking entry into Web3, notably Reddit and Starbucks. Should the latest development attract buyers, MATIC could find levels above $1 next.
MATIC hits resistance in a bullish surge
MATIC/USD Chart by TradingView
Technically, MATIC trades slightly below a crucial resistance. A price recovery above the $0.77 support saw the RSI move above the midpoint. It suggests the entry of buyers at the crucial support zone.
Similarly, the MACD indicator shows that momentum is improving for MATIC. A bullish MACD crossover was initiated, although the indicator remains below the neutral zone.
Should you buy MATIC?
Buying MATIC now is premature as the cryptocurrency trades below a resistance level. We need a break above $0.96 to buy the token. Should a breakout occur at the resistance, MATIC could rise to $1.3. The level around $1.05 could offer some minor resistance for the cryptocurrency.
Conversely, if bears win the contest at the resistance, the support at $0.77 will be in sight. The level could also attract buyers based on the prevailing sentiment and price action. Investors should watch either price movement for a chance to buy MATIC.
Where to buy MATIC
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 Polygon’s MATIC becomes bullish. When to buy the token? appeared first on CoinJournal.