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Voyager token jumps 24%. Here is the reason and potential price action next

  • Voyager token rose by double-digits on Thursday

  • Reports of acquisition by Binance.US boosted the token

  • The token faces a correction at key resistance

Voyager (VGX/USD) was at the centre of retail interest on Thursday, witnessing a surge in trading volumes. The cryptocurrency of the embattled crypto firm Voyager Digital was strongly mentioned on social trading platforms. Positive cryptocurrency news was boosting the token of the bankrupt crypto lender.

On Thursday, reports emerged that Binance.US was buying the embattled crypto firm. Voyager filed for bankruptcy protection in July in a liquidity crisis after a sustained crypto winter. Binance CEO Changpeng Zhao confirmed the purchase reports on Thursday. CZ said Binance.US would bid again for Voyager after the deal with collapsed FTX didn’t go through. 

Binance.US is not the only entity to eye the assets of Voyager. On November 22, Kaj Labs said it would launch a second offer to acquire the assets of the embattled firm. Kaj Labs says it still sees value in the assets of Voyager and will negotiate in good faith with the firm. However, the entry of Biannce.US to the bidding war has attracted attention.

VGX traded at an intraday high of $0.53, from the lows of $0.35. As of press time, the cryptocurrency was trading at $0.44 after a brief correction. The next price action and developments would determine whether we see a sustained bullish surge for VGX.

VGX correcting at resistance after intra-day gains

VGX/USD Chart by TradingView

On the daily chart, VGX has initiated a short-term bullish trend since bottoming at $0.2. Following the intra-day gains, the cryptocurrency rose above resistance at $0.44. However, the price has retreated and could close below the resistance.

The RSI has moved above the neutral zone. There are no bought conditions, nonetheless, suggesting that a higher price is possible.

Should you buy VGX now?

The closure of the daily candlestick above $0.44 could ignite bull interest in VGX. However, this cryptocurrency is being driven by speculations. 

Thus, short corrections can occur if the projected buyout of the embattled firm fails to occur. Buying VGX now could be premature, and it’s good to wait until further developments.

Where to buy VGX

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 VGX 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 VGX with Swapzone today

The post Voyager token jumps 24%. Here is the reason and potential price action next appeared first on CoinJournal.

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Ankr Network token jumps 6% to resistance. What could happen next?

  • Ankr Network token rose after becoming a RPC for Sui blockchain

  • ANKR remains subdued by a resistance

  • The token could correct despite the intraday gains

Ankr Network (ANKR/USD) witnessed increased investor interest on Thursday, pushing the token up 6%. The gains reflected positive cryptocurrency news. Attention will not shift to whether the token will sustain gains as it hits a key resistance level.

Ankr is a platform that provides access to the decentralised internet. The network aims to eliminate the barriers to entry to the blockchain by decentralising control to users and developers. To achieve this objective, Ankr provides simple tools and interfaces for Web3 development. ANKR is the native token that powers the ecosystem and helps in on-chain governance.

Thursday’s gains of ANKR token came after becoming the first Remote Procedure Call provider for the Sui blockchain. The announcement on November 22 indicated that Ankr would let developers create and upgrade dApps on top of Sui. Ankr will also support the Sui mainnet after it goes live. There is additional expected support for docs, tools, and features for the Web3 developers. The partnership also opens opportunities for geo-distributed and decentralised RPC for Sui. 

The latest announcement also coincides with the increasing growth of Ankr staking. According to the network’s November 23 Twitter post, more than 56,000 ETH has been staked with Ankr staking. The developments have since fueled increased speculation for the network’s native token.

ANKR faces correction at $0.026 despite the intra-day surge

ANKR/USD Chart by TradingView

Despite the intra-day gains, ANKR has met resistance at $0.026. The cryptocurrency is correcting, resulting in a potential bearish pin bar below the key level. Besides, the long-term trend for the token is bearish.

When to buy ANKR?

ANKR should not be on your list of cryptocurrencies to buy despite a positive price action. A recovery from the bearish market will be confirmed if the cryptocurrency breaks above the $0.026 support. Buyers will still need to be cautious of a retracement at the descending trendline.

On the flip side, the formation of a bearish signal below the key support would make ANKR vulnerable. A price back to the $0.019 support or lower would be in sight. 

Where to buy ANKR

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 ANKR with eToro today

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 ANKR with Binance today

The post Ankr Network token jumps 6% to resistance. What could happen next? appeared first on CoinJournal.

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Bitcoin rebounds slightly after the FOMC but is the cryptocurrency bullish?

  • Bitcoin has been steady after FOMC statement

  • The cryptocurrency remains tied to wider crypto concerns

  • BTC needs to overcome $16,500 to become bullish

Bitcoin (BTC/USD) rose slightly on Thursday after the US Federal Reserve statement. The cryptocurrency was held to the $16,500 level after a soft stance by the officials. BTC was already gaining ahead of the remarks as investors were optimistic that the Fed would cool down on rate hikes.

Friday’s Fed statement just confirmed what the market expected. Officials indicated that they would slow down the pace of interest rate increases. Fed cited the uncertain lags associated with the monetary actions on inflation and economic health. The monetary committee settled on the fourth 75 basis points hike regardless. Although this didn’t signal that the interest rates would remain low, it gave markets a softer landing. 

Despite the somewhat positive signal from the Fed, the price of Bitcoin should be viewed within the wider risks contagion. In particular, the confidence crisis created by the collapsed FTX exchange could linger longer. Combined with a potential recession, we could wait a bit longer to see a sustained surge. The slow pace of gains recorded by cryptocurrencies after a dovish statement confirms a lacklustre market. To a technical reader, Bitcoin is not yet bullish.

Bitcoin struggles to rise above $16,500

BTC/USD Chart by TradingView

On the daily chart, Bitcoin’s price has slightly increased since finding support at $15,700. However, buyers are facing challenges taking the cryptocurrency above the $16,500 level. 

Although the RSI has slightly improved from the near-oversold level, the reading is still below the midpoint. 

What next for Bitcoin?

A mixed trading outlook suggests that the BTC price could go higher or lower. There is no confirmed bullish reversal unless the cryptocurrency clears the $16,500 level. That would allow bulls to ride a bullish surge to the $19,000 resistance.

If bear pressure escalates, a price below $15,700 is still on the cards. That would pit Bitcoin at a potential price of $14,000 and $11,000. 

In the words of Bitcoin enthusiast Michael Saylor, if you buy BTC in a timeframe of fewer than four years, you are “just speculating it.” Longer-term buyers would still find BTC attractive, not necessarily for four years, but up to the next bull run.

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.

Buy BTC 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 BTC with OKX today

The post Bitcoin rebounds slightly after the FOMC but is the cryptocurrency bullish? appeared first on CoinJournal.

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BinaryX’s MMO CyberLand concept art release pushes BNX coin up 9%

The price of BinaryX (BNX) cryptocurrency has been on a bullish trend for the last two days. Today’s surge however seems supported by news of BinaryX releasing the concept Art for its new free-to-play, play-to-own, open-world MMO game, CyberLand.

Key Takeaways

  • BinaryX is a leading metaverse project on BNB Chain.
  • The BinaryX (BNX) cryptocurrency has surged to hit a daily high of $173.67 today.
  • BinaryX is working on an open-world MMO game called CyberLand.

The main catalyst behind today’s BNX price surge

As previously reported in a press release today, BinaryX, the GameFi platform behind play-to-earn games CyberDragon and CyberChess, both of which run on the BNB chain, has confirmed that it is working on a new free-to-play, play-to-own, open-world MMO game called CyberLand.

The news has reenergized the BinaryX (BNX) giving the cryptocurrency some oomph to surge ahead after a sudden dip on Tuesday (November 22, 2022) dip. The market took a sudden turn on Tuesday and BNX dropped to a low of $138.94 by Wednesday morning sparking fears among investors.

BNX however bounced back almost immediately starting Wednesday morning and has been on a promising bullish trend since then. The bullish streak seems to have been boosted by today’s confirmation that BinaryX is working on a new World Building MMO game.

At press time BNX was trading at around 171.22 after a slight pullback from a daily high of $173.67 up from a daily low of $155.72.

BinaryX is among the top projects on BNB

BinaryX started out as a decentralised derivative trading system before gradually evolving into developing a decentralised video game platform. The platform is now transitioning to becoming a GameFi platform offering IGO services bridging Web2 developers to Web3.

It is currently among the top ten projects on BNB Chain with a community of more than 100,000 coin holders and 17,000 monthly active wallets. It also doubles up as one of the largest metaverse projects on BNB Chain with a market cap of over $476 million.

The post BinaryX’s MMO CyberLand concept art release pushes BNX coin up 9% appeared first on CoinJournal.