Kategorie: Altcoin News

• RavenCoin recovered slightly after Binance Pool support

• The cryptocurrency trades in a descending trendline

• RVN could fall further, although technical indicators have slightly improved

Ravencoin (RVN/USD) traded at $0.022 at press time after a slight correction. The cryptocurrency had developed some bullish signs previously, jumping from a low of $0.020 to $0.025. The gains came on the back of positive cryptocurrency news.

According to a November 23 announcement, Binance Pool is supporting RavenCoin. The RavenCoin mining service will use the PPS+ settlement, with the mining pool fees set at 1%. The support comes after September’s Ethereum merge fueled demand for the token. RavenCoin uses the proof-of-work consensus mechanism. Ethereum’s shift to the Proof-of-State consensus mechanism, therefore, fueled the demand for PoW tokens like RVN.

RavenCoin is itself a fork of Bitcoin, a PoW blockchain. The blockchain is a peer-to-peer network that lets users create tokens for any assets. The latest support by Binance Pool raises optimism that RVN could overcome a prolonged drop. But how bullish is the cryptocurrency?

RVN on a descending channel as gains fail to inspire a rally

RVN/USD Chart by TradingView

Despite the recent gains, RVN is yet to overcome a steep descent that has been in place since September. The cryptocurrency trades on a descending trendline. It tested the upper bound of the trendline and is facing some resistance.

The MACD and RSI indicators are, however, positive on RVN. The MACD line crossed above the signal line to suggest a bullish reversal. However, the indicator is still bearish. Similarly, the RSI recovered slightly, but the reading remains below the midpoint.

Should you buy RVN?

RavenCoin’s momentum could last for a while. If buying RVN, you should be aware that further downsides are possible based on the price action.

Where to buy RVN

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.

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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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The post How bullish is RavenCoin after the Binance news? appeared first on CoinJournal.

• 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.

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

• 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.

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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.

Shiba Inu (SHIB/USD) made an intraday 8% gain on Wednesday to trade at $0.000009. The rise reflected a slightly improved crypto sentiment. Most cryptocurrencies were trading in the green territory, with Bitcoin and Ethereum up 5% and 7%, respectively. However, there are some notable developments for the Shiba Inu network.

On November 22, Shiba Inu lead developer Shytoshi Kusama reported positive cryptocurrency news. In a Twitter post, Kusama said that Shiba Inu had been invited to work with the World Economic Forum on global policy. That potentially means a metaverse-related one, with Shiba Inu already entering the space. The post solicited views from the Shiba community on whether cryptocurrency should work with the global body. An overwhelming 65% of respondents supported the idea. 

Onboarding the WEF is positive for Shiba Inu as it works to build a real utility for its meme-labelled cryptocurrency. The development is, of course, long-term, and it needs waiting to see how it unfolds. Meanwhile, the amount of SHIB held by Ethereum’s largest whales has fallen below $70 million. However, the number of SHIB token holders recently increased by 6,000. But how bullish is the meme token?

SHIB is recovering from near-oversold levels

SHIB/USD Chart by TradingView

The general trend for SHIB is bearish on the daily chart. The MACD indicator shows bear momentum, although the weakness has slightly cooled off.

SHIB is also recovering from a near-oversold RSI reading of 35. Each time SHIB has approached this level, the token has recovered or consolidated since June. Still, the current RSI reading of 41 is below the midpoint, signalling that sellers are still many.

How sustainable is SHIB recovery?

A recovery near the oversold region is positive for SHIB price. However, the trend is still bearish, and SHIB is vulnerable. For sustainable gains, SHIB must overcome a minor resistance at the $0.000009 trading level. A recovery above this level will keep $0.00001 and $0.000012 levels in sight.

If SHIB fails the potential recovery, the level around $0.000007 will be the likely support to the downside. 

Where to buy SHIB

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 SHIB with eToro today Disclaimer

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 SHIB with OKX today Disclaimer

The post Is Shiba Inu now bullish after an 8% surge? appeared first on CoinJournal.

Nest Protocol token (NEST/USD) traded up 50% on Tuesday before cooling slightly. The token saw increased trading volume, with a 24-hour change of positive 326%. We investigate more into this now exciting token and its protocol.

Nest Protocol functions as a web3 infrastructure platform. It facilitates the generation and programming of stochastic assets. The platform is built on Ethereum. NEST, an Ethereum-based token, runs the protocol. It helps meet the liquidity needs of the platform. The token also serves as a reward mechanism for users who provide accurate price quotes on the protocol.

Nest Protocol token is ranked #190 on CoinMarketCap with a total valuation of $76.64 million. The token has a circulating supply of 2.91 billion tokens, while its max supply is capped at 10 billion.

No clear fundamentals were driving the price of NEST. The token witnessed increased mentions on social trading platforms. Will the bubble burst?

NEST token price analysis amid increased retail interest

NEST Chart by TradingView

A technical outlook of NEST shows that the token is overbought, with the RSI at 77. The cryptocurrency met resistance at $0.038, resulting in the formation of tailed bars. 

Looking at the general trend, the price momentum of NEST is bearish. The cryptocurrency has been witnessing irregular bullish pop-ups that have been unsustainable. Consequently, a sharp correction could occur.

Should you buy NEST?

Buying NEST is speculative as the price lacks clear fundamentals. A potential bubble burst could occur after the intra-day gains as cryptocurrencies remain in a bear market.

For a sustainable bullish momentum, NEST must clear the resistance at $0.038. That will depend on clear fundamentals emerging that will support a higher price amid a bear crypto sentiment. On the downside, the level to watch is $0.016.

Where to buy NEST

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 NEST with Swapzone today

Huobi

Start Your Cryptocurrency Journey Today. Huobi Global has a variety of features that make it an ideal place to buy and sell digital asset.

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The post Nest Protocol – what you need to know about the token that surged 50% in a day appeared first on CoinJournal.