ThorChain (RUNE) hopes to break downward momentum with a recent mini-rally

The massive sell-off we saw on ThorChain (RUNE) was nothing short of catastrophic, and that’s being nice. The coin has really spiralled downwards, following other crypto assets in decline. But a small mini-rally the last two days could help RUNE break this downtrend. Here are some highlights and analysis of the price action:

After hitting highs of $17.25 in a superb rally last year, selling pressure has sent RUNE on the floor with a massive decline.
At press time, the coin was selling at $4.02, nearly over 70% lower from its October highs.
Despite this, ThorChain (RUNE) has rallied nearly 20% in the last 24 hours as momentum starts to build.

Data Source: Tradingview.com

Can ThorChain (RUNE) break the downtrend?

Even with the 20% 24-hour rally, there is no question that ThorChain (RUNE) remains firmly in the bear market. The coin is trading at $4.02, and if there is going to be a sustained bullish momentum, it must at least test overhead resistance of around $7 in the near term.

Whether this will happen remains highly unlikely. Although we have seen some steady gains in the crypto market over the last few days, there is still a lot of uncertainty.

Any wild price swings could send ThorChain (RUNE) tumbling even further, erasing any hope of a trend reversal in the coming weeks. The good news is that most momentum indicators suggest that ThorChain (RUNE) could get bullish.

Should you buy ThorChain (RUNE)?

At the moment, it’s hard to see any serious demand for ThorChain (RUNE). As risk-off sentiment continues to push investors aware from the trading floor, we do not see enough demand for ThorChain (RUNE) in the near term to push the price that much higher. So, if you are buying for long-term value, well and good. But for short-term traders, this is not the asset to go for.

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25. Januar 2022

Should you buy chainlink as the price get stuck at $15

LINK/USD extends range-bound price action below resistance
LINK/USD market eyes a target above $17.73

Across the board, the overall crypto market is trading in a neutral direction. After strong selling pressure took charge of the price movement. And with less concern about fundamental analysis, Chainlink seems to exclude the list of assets governed by an economic release.

Hence buying Chainlink (LINK) from a technical analysis outlook will aid trading decisions.

Technical levels to watch before buying chainlink

Heavy bearish storms drag the value of Chainlink downhill after weak volume among the bulls caused the value of Chainlink to depreciate against the US dollar. At the same time, it is assumed that supply and demand are the major factors that control the price action of the digital currency market.

From north to south LINK/USD trading activities have proved to be a good example of the reaction caused as a result of market supply and demand, which tend to leave a mark on the crypto market price action.

LINK/USD hourly chart technical analysis

Source – TradingViewWith a technical analysis look on the 4-hour chart market investors would discover that the LINK/USD chart pattern is in for a long-term bearish price movement. As $10.59 near-term support endures welcoming the value of the digital asset to balance its feet along with its horizontal support. Alongside buying LINK/USD at this price point would enable a long-term gain for traders because $10.59 serves as the all-time low initial support for the asset.

Final thoughts and trading recommendation

The upcoming Federal Open Market Committee (FOMC) meeting that’s set to come up on Wednesday would perhaps produce a rise in volatility in the crypto market. After expectations from market players await an interest rate hike announcement from the Fed chairman Jeremy Powell soon.

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25. Januar 2022

Fantom (FTM) surpasses $12 billion in TVL – Is it the most important competitor for Ethereum?

Fantom (FTM) appears to be flexing its muscle as the next big thing. The blockchain is billed as the most direct competitor for Ethereum and based on recent events, it seems it’s living to that billing. Although the project is down today due to broader headwinds in crypto, it is looking like a good bet for the future. Here are some highlights:

Fantom (FTM) has surpassed $12 billion in Total Value Look, making it one of the most valuable DeFi out there.
The recent surge means that FTM’s TVL is now higher than that of Solana and Avalanche.
With this trend, Fantom (FTM) looks poised to compete directly with Ethereum in the near term.

Data Source: Tradingview.com

Fantom (FTM) – Where does it go next

The price action in the broader crypto market has remained quite bearish. Most coins have tumbled, and FTM is not any different. At the time of writing, it was trading at $1.97, down nearly 11% in 24-hour intraday trading.

But more importantly, FTM has now surged past $12 billion in total value locked. This makes it bigger than Solana and Avalanche in terms of TVL. Shortly after the news was announced, FTM surged by 17% albeit sentiment in broader crypto has weighed on the price, sending it tumbling in the last 24 hours. But despite this, this is a good sign that Fantom is growing and growing fast.

Should you buy Fantom FTM?

Yes, with the kind of growth we have seen in FTM over the last few months, you should have it in your portfolio. The fact that the token is down right now means that you have a rare chance to get in on a discount. This is a long-term play for folks who are looking for Ethereum alternatives.

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25. Januar 2022

Ausverkauf von Bitcoin und Ethereum geht bald zu Ende, so Jim Cramer

Cramer deutete an, dass Bitcoin eine Erholung wie im letzten Jahr erleben könnte – eine Rallye, die Bitcoin nach Norden auf das Allzeithoch im November trieb.

In einer kürzlich erschienenen Ausgabe der Mad Money Show analysierte Jim Cramer von CNBC die Märkte, wie sie von Tom DeMark vorhergesagt wurden.

Tom DeMark, der Schöpfer des Finanzmarktanalysetools Symbolik, ist kein gewöhnlicher Kopf in Sachen Markt. Er kann auf eine langjährige Karriere im Bereich objektiver und mechanischer Marktindikatoren zurückblicken und hat in der Vergangenheit bereits mehrere präzise Vorhersagen für den Kryptomarkt getroffen.

Bitcoin und Ethereum stehen vor einem Aufwärtstrend

Jim Cramer teilte den Zuschauern mit, dass die beiden führenden Krypto-Assets Bitcoin und Ethereum in dieser Woche einen Boden der Trenderschöpfung erreichen könnten. Nach tagelangen massiven Ausverkäufen, die die Märkte dazu brachten, nach niedrigeren Preisen zu suchen, sagte Cramer voraus, dass der Markt bald einen Aufschwung erleben könnte.

„Wenn die Charts, wie sie von Tom DeMark interpretiert werden, besagen, dass sowohl Bitcoin als auch Ethereum in dieser Woche, wenn nicht sogar noch heute, einen Tiefpunkt der Trenderschöpfung erreichen könnten, dann sollte man ihn ernst nehmen“, erklärte er.

Er bemerkte, dass Bitcoin nur noch zwei „negative Schließungen“ davon entfernt sei, den 13-Punkte-Countdown in Richtung des Kaufpunkts zu vollenden (wenn der Rückgang aufhört). Sollte der Coin jedoch von einem zwei- oder dreitägigen panischen Zusammenbruch getroffen werden, erklärte er, dass es wahrscheinlich ist, dass der Preis tiefer gedrückt wird, um einen neuen Boden bei 26.355 USD zu definieren.

Cramer bestand darauf, dass sich Bitcoin wieder erholen könnte, so wie es im letzten Jahr nach dem Rückgang von April bis Ende Juni der Fall war, bei dem er bis zu 56 % seines Wertes verlor. Sollte sich die Geschichte wiederholen, könnte Bitcoin seinen Tiefpunkt bei 30.557 USD erreichen, da der Coin derzeit einen ähnlich starken Rückgang wie im letzten Jahr während des Einbruchs erlebt.

Volatilität ist Teil des Wachstumskurses von Bitcoin, betont Michael Bucella von BlockTower Capital

Michael Bucella, ein General Partner bei BlockTower Capital, erklärte, dass Bitcoin ein langfristiger Bulle im Bereich der Kryptowährungen bleibt, und betonte, dass sich der Vermögenswert immer noch im „Wachstumsmodus“ befindet.

Bucella sagte, seine Behauptung basiere auf einer logarithmischen Chartanalyse und stellte fest, dass der Anstieg von Bitcoin im letzten Jahr nicht nachhaltig war. Er erklärte, dass das Krypto-Ökosystem eher durch Wertschöpfung als durch seine Grundlagen zum Wachstum geführt wurde. Daher ist es für den Vermögenswert anspruchsvoll, sich über 50.000 USD zu halten.

Bucella merkte an, dass die aktuelle Volatilität von Bitcoin als junger, sich entwickelnder Vermögenswert Teil seines Wachstums ist und erwartet werden sollte. Er fügte hinzu, dass der Rückgang des Vermögenswerts unter 35.000 USD eine Öffnung für Kleinanleger geschaffen hat, die in diesen Markt einsteigen wollen.

„Bitcoin ist immer noch fest im Wachstumsmodus, und wenn man sich ein logarithmisches Diagramm ansieht, ist es immer noch ein langfristiger Aufwärtstrend. Es ist immer noch eine junge Anlageklasse, diese Volatilität ist nicht allzu überraschend, und Bitcoin und Ether waren strukturell niedrig und im letzten Jahr rückläufig„, sagte er gegenüber CNBC .

The post Ausverkauf von Bitcoin und Ethereum geht bald zu Ende, so Jim Cramer appeared first on BitcoinMag.de.

25. Januar 2022

Olympus (OHM) hits point of no return, dips nearly 95% from all-time highs

Olympus (OHM) is closely edging towards the point of no return as downward pressure on the price continues to persist. The DAO token is falling sharply, and as sentiment in the market continues to favour a risk-off mentality, it may take a lot of time before OMH recovers. Here are some notable highlights:

At the time of writing, OMH was trading at $64.81, down about 4% in 24-hour intraday trading.

Also, Olympus (OHM) is now trading at over 90% lower from its all-time highs.

The crypto market crash is likely to make the price action even worse, with negative pressure expected in the coming days.

Data Source: Coinmarketcap.com

Olympus (OHM) – Can it recover?

Many coins have tumbled in the market over the past few weeks. Some are even way lower than all-time highs. So, this is not something unique to Olympus (OHM). But it is worrying to see such a speedy drop in fact, at press time the coin was trading nearly 95% from all-time highs.

However, even amidst these headwinds, the project has been trying to build up, launching a new 12-month plan designed to usher in a “stronger ecosystem”. Whether this will do anything to lift the downward pressure remains to be seen. But so far, it looks like OMH may be getting into the point of no return.

Should you buy Olympus (OHM)?

Olympus (OHM), for those of you who don’t know about it, is a platform designed to incentivise users to stake the native OHM token. The hope is that OHM will grow to become a crypto reserve, the same way the US dollar is. This sounds a bit far-fetched but when the project launched, it had a huge following. At the moment, it may not be the right time to buy Olympus (OHM) given the headwinds in the market.

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