Die neuen Äußerungen von US-Zentralbankchef Powell haben keine nennenswerte Wirkung auf die Märkte gehabt, weshalb sich der Kryptomarkt nun vorerst etwas beruhigen kann.
Ethereum returns above $1000 – Should you buy
For so many years, many fence-sitters in the crypto industry have waited in bated breath for the prices to crash so that they can buy in. After all, in 2021 crypto was just hot. Coins hit record-breaking highs, and Ethereum was predicted to hit $10,000 this year. But things haven’t really turned out that way. Here are some facts:
-
ETH fell below $1000 for the first time in months.
-
However, the coin has managed to regain the four-digit price.
-
An upward trend reversal is not likely at the moment.
Data Source: TradingView
Ethereum: Where will it go?
Now, when ETH fell below $1000, most analysts saw a deeper fall. But the crypto market just surprised us. Prices recovered, and ETH was once again above $1000. This may seem like a good sign. But it’s actually not. The driving economic and financial risks that have put so much pressure on crypto have not yet eased.
Yes, there are growing efforts to deal with inflation and reduce its impact on the economy. But the success of these efforts will come in the long term. So, even though ETH is now above $1000, the coin is still exposed to further downside.
We in fact think that another major sell-off is coming in crypto. This will likely be the last blow that finally sends ETH and most coins firmly into the bear market. As such, it may not be the most ideal time to buy.
When to buy Ethereum?
There are two support levels for ETH after $1000. The most immediate one is around the $800 mark, and the second one is at about $550. ETH will likely bottom at either of these two.
The best strategy would be to use dollar-cost averaging and buy the moment ETH hits $800. Continue buying even if it dips towards $500. After that, give it a few months and just wait.
The post Ethereum returns above $1000 – Should you buy appeared first on CoinJournal.
Cardano fails to hold $0.5 – What next?
Cardano was up for a few days of recovery after the crypto market rebounded over the last weekend. At one point, ADA in fact managed to surge past the crucial $0.5 price. Many analysts expected the coin to consolidate above this but it has since pulled back below. So, what happens next for ADA? Here are some notable highlights first:
-
ADA has retreated slightly but could still retest $0.5 with improved sentiment
-
The coin will however need to see a surge in trade volume for this to happen
-
Failure to reclaim $0.5 could push ADA back to the $0.380 support in the short term
Data Source: TradingView
Cardano price analysis and prediction
After a major sell-off in crypto over the past week, the market began to recover this weekend. ADA in fact went above $0.5, a crucial support zone that it had managed to hold for a few weeks. However, the altcoin failed to keep the price there.
Instead, ADA retreated and is now trading at around $0.48. However, there is still an opportunity for the coin to jump above $0.5. But based on relatively lower trade volume, ADA may struggle to get there. Nonetheless, if bulls can somehow regain $0.5, ADA will need to surge past $0.55 to have any chance of staying above.
In fact, a sustained accumulation here could trigger a run towards $0.63 in the near term. But if weakness persists, ADA may see a major cliff dive that will push it towards its monthly support of around $0.380.
Will ADA rebound?
Well, ADA has actually been rebounding over the past few days. The pullback seen over the last 24 hours could be a bleep in an otherwise decent run.
But since sentiment in the market is yet to fully recover, it is likely ADA has faced a major loss of momentum. As such, a steadier decline could come in the days ahead.
The post Cardano fails to hold $0.5 – What next? appeared first on CoinJournal.
Shiba Inu’s 55% rally could lose steam as it faces a major resistance zone
As the crypto market roars back modestly, Shiba Inu has been posting massive gains. Over the past three days alone, the coin is up nearly 55%. However, it looks like this upward momentum is about to face its biggest test yet. SHIB is now facing a major resistance zone. Will it manage to keep going? Here are some takeaways:
-
SHIB faces major resistance at the $0.0000104 mark
-
A rejection at this price could trigger a decisive pullback
-
SHIB however appears to have enough momentum to overcome
Data Source: TradingView
How long will SHIB rally?
After gaining 14% over the last 24 hours, SHIB is now outperforming the market. The coin has also reported gains on its fourth straight day. This renewed momentum comes against the backdrop of growing uncertainty in investor sentiment around meme coins. But despite this, SHIB now faces its biggest hurdle as it tries to overcome the $0.0000104 resistance.
If the coin fails to clear this price, we are likely to see at least a 17% pullback. SHIB will then consolidate and try again. However, we believe that there is enough momentum for SHIB to in fact rise above this mark.
The coin has rallied in the past 24 hours and is getting closer and closer to $0.0000104. Once the barrier is breached, SHIB could run further by another 25% before any breakdown. This will represent one of the sharpest rebounds in the market in June.
Why is SHIB surging?
As noted above, SHIB is outperforming the entire market during this small recovery phase. It seems though that much of these gains have come as SHIB’s demand among whales grows further.
We are also seeing some slight improvements in sentiment across the market. As such, trade volume for the meme coin has shot up slightly. If these conditions hold in the near term, SHIB will likely keep rising.
The post Shiba Inu’s 55% rally could lose steam as it faces a major resistance zone appeared first on CoinJournal.
EZB-Präsidentin fordert Regulierung von Krypto-Krediten und Staking
Christine Lagarde spricht von „MiCa II“, das Bereiche regulieren soll, die vom ersten Verordnungsvorschlag nicht abgedeckt wurden.