Kategorie: Altcoin News

The Sandbox (SAND/USD) crashed by nearly 5% on Monday, extending its losing streak in the bear market. The loss took the token to a yearly low of $0.52 before recovering slightly. As it stands, the token of the Metaverse platform is under the control of bears.

It is not only SAND that is under pressure. Metaverse peers feel the heat of a very calm virtual reality space amid a prolonged crypto winter. This year’s activity is below par for a sector that was expected to witness unprecedented growth.

Take the case example of Horizon Worlds, the flagship metaverse for tech giant Meta. As of October, reports indicated that Horizon had amassed less than 200,000 monthly active users. Unless a miracle happens, Meta is unlikely to hit 500,000 MAUs by the end of the year, as initially projected.

As to whether the low activity in the metaverse is connected to the crypto winter, time will tell. At the moment, the metaverse is simply underperforming. The Sandbox token has, therefore, been in a prolonged downturn owing to fewer entities entering the nascent sector. Will the token set a new low?

SAND heading to $0.40 next?

SAND/USD Chart by TradingView

On the weekly chart, there is no clear bottom price for the Sandbox token. However, the area around $0.4, when SAND started to turn bullish, should remain of interest. That implies that SAND could fall by up to 30%. Nevertheless, looking at the candlestick price pattern, the bear market has been cooling.

When to buy SAND

SAND price is bearish and not attractive for a buy. Nonetheless, significant price declines are unlikely, and SAND could begin a reversal if the RSI hits the oversold levels. Still, the prevailing crypto sentiment should guide ascertaining a bullish reversal for the cryptocurrency.

Where to buy SAND    

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 SAND 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 SAND with OKX today Disclaimer

The post Sandbox SAND prediction as token hits a new low in the year appeared first on CoinJournal.

Anyone would have thought Solana SOL/USD would trade at a double-digit price, let alone a single-digit one? Unfortunately, that is the reality for the lovers of the once promising cryptocurrency labelled the Ethereum killer. Having hit a high of over $265 in November 2021, the SOL was touted as the next token to reach $1,000. It now trades at a mere $11, exactly one year since its all-time high. The cryptocurrency is yet to find a bottom, with technical indicators pointing to a price below $10.

While a bear sentiment is to blame for the significant SOL decline, recent woes reflect exposure to collapsed FTX. As CoinJournal reported, Alameda Research has significant holdings of SOL tokens. The exposure has seen Coin Bureau host “Guy” warning his 2.17 million subscribers on YouTube about SOL price.

The analyst expects the price of SOL to come under further pressure and fall a further 40%. He says that the token will suffer when FTX and Alameda dispose of their holdings in Solana to pay off creditors and other users. He further notes that the SOL situation could be worse, with the cryptocurrencies showing they are yet to bottom. The analyst is projecting an $8 SOL price. A technical outlook shows we could see an even lower price level for the cryptocurrency.

SOL crashing below an inside-bar pattern is a bear indicator

SOL/USD Chart by TradingView

A technical outlook shows SOL bulls losing the battle at $12. The MACD indicator has pushed further into the bear zone. The indicator shows an increasing bear momentum.

Besides, SOL is initiating a bearish breakout from an inside bar pattern. Once confirmed, by the close of the daily candlestick, we should be ready to embrace a lower SOL price.

What next for SOL?

With weak momentum and a bearish inside bar breakout, SOL could likely head to a single-digit price. There is a potential 50% drop to the next likely support at $5. The level coincided with the start of bullish momentum in February 2021.

Where to buy SOL    

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 SOL with eToro today Disclaimer

Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

Buy SOL with Capital.com today Disclaimer

The post Solana nears a single-digit price. Here is the price action and what you need to know appeared first on CoinJournal.

It’s an indecision moment as Solana trades at an oversold level of $13. The cryptocurrency has formed multiple pin bars at the level, indicating indecision in the market. A potential breakout to the downside could see SOL claim a single-digit price.

CoinMarketCap data shows that SOL has lost more than 25% in a week. The loss is among the highest among the cryptocurrencies in the top 100 bracket. Concerns that the Solana ecosystem has a huge exposure to the collapsed FTX and Alameda have been fueling the bear market. Alameda is believed to hold 50.5 million SOL worth $708 million. Amid the exposure, Solana founder Anatoly Yakovenko has maintained that the investment is unaffected.

SOL remains under the mercy of bears, who are increasingly active at the $13 price level. Here is the price outlook:

SOL is under pressure at $13 even as the price hits oversold levels

Technically, SOL is creating a support zone at $13. However, a likely bullish reversal looks unlikely as the token trades with weakening momentum. The formation of multiple inside bars at the crucial level suggests that buyers and sellers match the effort. 

SOL/USD Chart by TradingView

Turning to the RSI shows that SOL is oversold. An attempted recovery has been muted, with a further slip of the RSI reading to 29. The MACD indicator underlines a weak and worsening momentum.

Which way is SOL?

An inside-bar pattern can break on either side. An upside breakout will confirm a bullish reversal for SOL. However, a quick sell-off for SOL could occur if the breakout occurs to the downside. In such a case, the SOL price could touch $10 or below. 

With the weak sentiment, a bearish breakout carries a higher chance. Investors should be cautious about buying SOL at this level.

Where to buy SOL

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 SOL with eToro today Disclaimer

Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

Buy SOL with Capital.com today Disclaimer

The post Is Solana facing a catastrophic breakout from an inside-bar pattern? appeared first on CoinJournal.

As cryptocurrencies continue to whipsaw, Shiba Inu (SHIB/USD) has been in the trenches. With a drop of more than 6% in a week, the cryptocurrency now trades at $0.0000092. A dip-buyer could be interested in the price level. That considers that SHIB has been holding it since touching a low of $0.000008 for a week.

The main concern for SHIB and other cryptocurrencies has been a confidence crisis brought about by the collapse of FTX. The sentiment is so far bearish as most tokens are currently trading lower. Other than that, SHIB has been building on the meme token strengths and looked to have overcome resistance at $0.000012. 

Aside from the negative sentiment, Shiba Inu continues to suffer from the lack of significant developments. Notable among these is the SHIB metaverse, which has stalled for a while. On November 16, however, the Shiba Inu team issued some positive updates. The team gave a first concept art reveal of what to expect once the metaverse becomes a reality. Although the update reawakens expectations of the key project, SHIB investors are yet to show optimism. The price of the meme token has remained muted.

SHIB price outlook amid a bear market

SHIB/USD Chart by TradingView

Technically, SHIB is under pressure despite buyers having defended $0.000008. The level does not coincide with a support zone, and the cryptocurrency will likely fall further.

The RSI reveals that SHIB is not yet oversold, although there are more sellers. The indicator shows a downside on SHIB. The meme token also trades below the moving averages.

SHIB prediction

Shiba Inu’s price could fall to the yearly lows of around $0.000007 if the current weak sentiment continues. The level coincides with support, meaning we will likely see a lower price. The cryptocurrency doesn’t present an attractive buy.

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

Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

Buy SHIB with Capital.com today Disclaimer

The post Is it now the time to buy Shiba Inu? appeared first on CoinJournal.

Trust Wallet Token (TWT/USD) has been the darling of investors this week. The token’s value has gained by triple digits in the past week, even as others soured over the weak crypto sentiment. If you have been wondering, the same reason that caused the decline of cryptocurrencies boosted TWT.

The collapse of the FTX crypto exchange sent panic waves across crypto markets. With accelerated selloffs, over $1 billion was wiped out from the market. That’s because the collapse of a “sound” crypto exchange of the stature of FTX was least expected. At least not after the exchange positioned itself to help other struggling crypto firms to remain above the ground. But it happened, anyway, but TWT buyers had something to smile about.

TWT hit an intraday high of $274 on November 14. The level was hit in a parabolic price move, as TWT overcame a low price of $1.0 as of November 10. The gains happened as whale accumulation intensified following the collapse of FTX. Investors were withdrawing funds from centralised exchanges in favour of self-custody wallets. The Trust Wallet gained in the process, with Changpeng Zhao also endorsing its post-FTX collapse.

TWT price outlook and analysis

Turning to the technical side, TWT has already been making slight but positive gains even before the FTX collapse. The latest cryptocurrency news just gave the token the catalyst to break above the $1.31 resistance level. 

TWT/USD Chart by TradingView

The moving averages are bullish for TWT. Turning to the RSI, TWT is deep in the overbought region. An imminent correction is likely, and a bubble burst could occur. The token is already initiating a correction and trades at $2.0.

Time to exit TWT?

Overbought conditions and a bubble burst could force a correction for TWT as investors adjust to the FTX scenario. 

However, the price movement is positive for TWT as it has been making a slow bullish push before. The token should be on the investor’s watch list if bulls defend the key levels. The area around $1.36 and $1.31 should be watched.

Where to buy TWT

Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

Buy TWT with Capital.com today Disclaimer

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 TWT with Binance today

 

The post Trust Wallet Token – a cryptocurrency with 100% gains, but are higher prices possible? appeared first on CoinJournal.