dot-traders, Autor bei Finanzmittel Info + Krypto + Geld + Gold

1. Dezember 2022

Here is the key update causing Chainlink to rally. Is a breakout imminent?

Chainlink has gained by 14% in the week
The Chainlink team issued an update regarding its upcoming staking feature
The native token faces resistance at $8

December started positively for the native token of Chainlink (LINK/USD). The cryptocurrency added an intraday of 2.45%, taking the weekly gains to 14%. The gains are fueled by a positive update by Chainlink on December 1.

According to the announcement, Chainlink Staking v0.1 will launch on the Ethereum mainnet on December 6. This is an important development as staking has been touted as a game changer under Chainlink 2.0 Economics. The staking feature was at least expected this December. However, Chainlink made an update regarding the lock-up period. Rather than the 12-24-month lock-up period, the team settled for a lower 9-12 months. Why is it important?

Lock-up is crucial for a staking service. It is the main mechanism for maintaining stable collateral for blockchain networks. However, prolonged lock-up can attract backlash from users unable to withdraw their assets. The latest update is important to Chainlink users looking to earn rewards by staking their tokens on the platform.

Chainlink recovery back to $8 ahead of staking launch

LINK/USD Chart by TradingView

LINK has initiated recovery along a short-term ascending trendline on the daily chart outlook. At $7.6, LINK trades slightly below a crucial resistance at $8.

LINK moved above the 20-day and 50-day MA. The area between $6 and $8 has seen flattening moving averages, indicating it is the zone where buyers and sellers match up. However, buyers are in control in the short term, as indicated by a recovery above the moving average. The RSI has also moved above the neutral zone, in line with the buyer’s strength.

Are further gains possible?

The resistance at $8 will remain crucial for LINK investors. A breakout would usher in further recoveries. The prospects of the upcoming staking feature on Chainlink will be crucial for a potential breakout.

On the flip side, the short-term rally may be cut short if bears take control of LINK price at $8. That would force a correction to the moving averages or $6 support.

Where to buy LINK

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 LINK with eToro today

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.

Buy LINK with OKX today

The post Here is the key update causing Chainlink to rally. Is a breakout imminent? appeared first on CoinJournal.

1. Dezember 2022

Bitcoin-Kurs klettert nach schwachem Monatsabschluss auf 17.000 US-Dollar

Obwohl Bitcoin stark in den Dezember starten kann, mahnen die Experten zur Vorsicht.

1. Dezember 2022

Italien plant 26 Prozent Kapitalertragsteuer auf Kryptowährungen

Ab einem Freibetrag von 2.000 Euro soll in Italien zukünftig eine Steuer von 26 % auf Gewinne aus dem Verkauf von Kryptowährungen anfallen.

1. Dezember 2022

Fantom eyes a breakout. Is the token about to post sustainable gains?

Fantom token has recovered by 28% in the last seven days
Developments around Fantom asset base have boosted the cryptocurrency
FTM has hit a descending trendline and could correct

Fantom (FTM/USD) trades at $0.24 as of press time, its highest level in nearly a month. The cryptocurrency has risen by 28% in the past week, a robust recovery since it bottomed at $0.17. The gains come amid positive cryptocurrency news.

The latest FTM gains came as reports suggested that the Fantom Foundation earns consistent profits. According to the financial records dated November 28, Fantom was generating more than $10 million annually. The reports also indicated that Fantom could have about $340 million worth of digital assets. The assets could last 30 years without the foundation having to sell its stash of FTM tokens.

With many crypto firms and exchanges under a liquidity crunch, the records of Fantom boosted investors’ confidence. Addresses holding Fantom tokens saw a strong increase in November from the smallest to the largest investors. The accumulation suggests that investors anticipate a recovery in the cryptocurrency’s price, which has lost 93% from its ATH. But can buyers sustain the recovery?

FTM heading to the descending trendline

FTM/USD Chart by TradingView

Technically, the Fantom token has recovered above crucial support at $0.20. The recovery has seen the cryptocurrency move above the moving averages. However, the token remains trapped by a long-term descending trendline.

The RSI reading shows that FTM is nearing overbought levels at the descending trendline. A possible correction could occur before buyers have a chance to break the crucial barrier.

What next for FTM?

A breakout above the descending trendline will confirm further gains in Fantom token. A breakout will allow buyers to ride to $0.30 next and $0.40.

On the flip side, FTM will be rejected at the descending trendline. That will allow bears to force a correction back to $0.20. However, with growing FTM accumulation, buyers may crave another chance to break above the descending trendline.