Obwohl mit dem Kollaps der FTX ein weitreichender Vertrauensverlust einhergeht, ist William Clemente weiterhin zuversichtlich, was die Zukunft von Bitcoin betrifft.
Has Polygon’s MATIC lost its mojo, or should you buy it now?
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Polygon token has lost 2% in the day and 6% in a week
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Bulls continue to defend $0.77 amid weak momentum
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We need further price action to ascertain the potential direction for MATIC.
Polygon’s (MATIC/USD) is one of those cryptocurrencies that has endured the bear turbulence quite well. The cryptocurrency looked prime for a sustained recovery after hitting $1.30 in early November. However, a contagion of risks in the crypto sector pushed MATIC to the $0.77 support. As of press time, the token traded at $0.83, with an intraday loss of 2%.
Polygon has been exceptional in terms of onboarding projects into its ecosystem. The latest cryptocurrency news involved Nike launching an NFT marketplace on Polygon. The around-a-week-old development was welcome among the Polygon enthusiasts. Unique addresses on the network hit a record 190.95 million as of November 14. Nike’s partnership underlines big brands courting Polygon for their web3 plans. Meta is another entity that has announced plans to use Polygon for its NFT project.
The positive developments have allowed MATIC token to stay bullish, although a weekly loss of 6% should not go unnoticed.
MATIC trades with weak momentum, but bulls defend $0.77
MATIC/USD Chart by TradingView
On the daily chart, momentum is weak for MATIC, with the MACD indicator dipping further into the bearish territory.
A recovery above the $0.77 support was curtailed by the 50-day moving average, which has since forced a correction. The cryptocurrency trades below the 20-day and 50-day MA.
What next for MATIC?
The price of MATIC is mixed. The technical indicators show that the cryptocurrency is bearish. However, the bulls have successfully defended a crucial $0.77 support. It means any potential bullish reversal should begin from the level. Further price action is needed to make a bullish or bearish call.
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 Has Polygon’s MATIC lost its mojo, or should you buy it now? appeared first on CoinJournal.
Here is the next price target for Chainlink as the token becomes bullish
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LINK rose by 4% on Friday amid a five-day winning streak
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The cryptocurrency faces some resistance at the 50-day MA
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Investors should buy on potential correction and target $8
An intraday gain of 4% on Friday was enough to take the price of Chainlink (LINK/USD) to $6.9. The token is clearly bullish since overcoming resistance at $6. The cryptocurrency has printed green candlesticks for the past five days. There are no clear fundamentals for the surge, but expectations around Chainlink 2.0 Economics could be fueling the demand for LINK. What lies ahead?
Chainlink Staking (v0.1), one of the key changes introduced under Chainlink Economics 2.0, is very close. The developers announced that the staking feature would go live on the Ethereum mainnet on December 06. Qualifying addresses can stake up to 7,000 tokens in a capped v0.1 staking pool. The staking pool will then be granted General Access on December 08, 12 PM ET. From there, anyone can stake to the initial cap of 7,000 LINK tokens per address. The staking pool is initially capped at 25 million LINK tokens or 5% of the circulating supply.
The start of staking will allow users to participate in the growth of the Chainlink ecosystem. Users will commit their tokens to smart contracts for rewards. As with most changes, native tokens tend to overperform ahead of the key developments. Potentially, this is the reason LINK is witnessing a bullish surge.
LINK attempting recovery above the moving averages
A technical outlook of the Chainlink token shows it is on a short-term rally. The token’s price has moved above the 20-day moving average.
A bullish MACD crossover also occurred, with the indicator showing improving momentum.
Will LINK stay bullish?
The recovery above $6 gives Chainlink a chance to remain bullish in the medium term. However, the 50-day moving average offers resistance. It would be interesting to watch whether bears will force a correction at the 50-day MA.
A correction would attract buyers as long as the LINK price remains above $6. In the medium term, LINK could rise to find the resistance at $8.
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.
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 Here is the next price target for Chainlink as the token becomes bullish appeared first on CoinJournal.
Dogecoin prediction as price defends key zone
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Dogecoin has been in consolidation mode
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The cryptocurrency trades near a key resistance
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The meme token is a buy on potential breakout
If you have been looking to buy Dogecoin (DOGE/USD), get ready! The selling post-FTX collapse could be overdone as buyers have defended a drop at a key level for more than two weeks. However, it is not an outright buy, as further confirmations are needed.
The general crypto mood has been responsible for DOGE’s weakness. However, the meme token has also been hit by the lack of positive developments around the acquisition of Twitter by Elon Musk. Since the acquisition occurred, there have been little to no hints from the DOGE father on the use of the token as payment.
David Gokhshtein of Gokhshtein Media has shared thoughts that could interest the Doge community. Gokhshtein says he expects the Ethereum founder to team with Musk to work on a crucial upgrade of Dogecoin. The views come when Vitalik Buterin, Ethereum founder, has been commenting about the original Dogecoin. Buterin has suggested that the blockchain should shift to the Proof-of-Stake consensus. The Ethereum code will be used in the transition if it occurs.
On his part, Musk, in May, made attempts to improve the transaction system of DOGE. With the acquisition of Twitter, it could rekindle discussions around the upgrade if DOGE is to be accepted as payment.
DOGE trades near the resistance of $0.09
The daily chart shows DOGE pushing for a breakout at the $0.09 resistance. The cryptocurrency has made an intraday gain of 10%, indicating that buyers are active at the crucial level. A breakout is on the horizon.
The MACD indicator is bearish, but the weakness has abated. The RSI has moved above the neutral zone, indicating the entry of buyers.
What next for DOGE?
A breakout beckons for Dogecoin price at $0.09 if the daily candlestick closes above the level. A breakout would welcome a bullish momentum, with the next level at $0.14. Investors should watch how the price action plays out and buy on a breakout.
Where to buy DOGE
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.
The post Dogecoin prediction as price defends key zone appeared first on CoinJournal.
BNB recovers above a crucial level. Should we wait for a further bullish push?
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Binance token rose by 17% on Wednesday.
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The crypto exchange announced HOOK token sale on Binance Launchpad.
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BNB eyes $330 next and is a buy on a retracement
As Binance coin (BNB/USD) slipped below $266, it signalled the start of a bearish market. BNB has defended the level since July, and a decline below it could have given bears absolute control. However, it is now not the case as BNB trades at $295, well above the crucial level. The cryptocurrency could be on course to the next level. So, what happened?
The gains in BNB happened after November 23 cryptocurrency news. BNB’s price rose by 17% on the day after the exchange announced the Hooked Protocol (HOOK) token sale on Binance Launchpad. This is the 29th project launching on Binance Launchpad.
According to the announcement, the token sale will occur through a lottery and conclude on December 1. 25 million HOOK coins have been allocated to the launchpad, equivalent to 5% of the total supply.
The latest development comes even as Binance continues to reassure users after the collapse of FTX. A Thursday announcement indicated that Binance would commit $1 billion to protect firms from the crypto meltdown. The crypto exchange is committed to increasing the amount if needed and will seek to enlist traditional financial firms. The fund comes after a raft of measures to reassure users of adequate reserves amid a crypto confidence crisis.
BNB price action as token hits a 2-week high
BNB rose from a low of around $250 to a 2-week high of $303. The $266 has been re-established as the immediate support for the cryptocurrency.
A bullish MACD crossover has been initiated following the bullish push. Similarly, the RSI has moved above the midpoint, suggesting that BNB has attracted a lot of buyers after the breakout. The cryptocurrency is consolidating ahead of the next move.
Should you buy BNB now?
Buyers may not be done with BNB, with the area around $330 and $360 as the next target. However, if intending to buy BNB, wait for some correction to snap it lower. The current consolidation could force a correction before the next bullish leg.
Where to buy BNB
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.
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.
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