Kategorie: Altcoin News

• Kyber Network (KNC) outperformed the market with a 50 percent+ monthly gain after the introduction of Kyber 3.0 and interoperability throughout several decentralized exchanges.

• Volatility appears to rule supreme in the cryptocurrency market, and worry, anxiety, and skepticism are at an all-time high. 

• It is difficult for any project to emerge above the cacophony and achieve positive price increases, although a few projects are demonstrating fortitude during the present slump.

KNC is a decentralized exchange (DEX) that operates in a multichannel context and aggregation technology that connects decentralized finance (DeFi) apps and their customers to liquidity sources that offer the highest rates.

The price of KNC has risen 57 percent from reaching a low of $1.18 on Jan. 6 to a continuous peak of $1.87 on Jan. 27 notwithstanding this weakening in the crypto market.

Another factor contributing to KNC’s bullish momentum is the continuing inclusion of new decentralized trading systems into the Kyber Network ecosystem.

KNC is widely available on exchanges

KNC is the second-most-present DEX token in terms of exchange availability, and it is now accessible on 80 different exchanges.

There is a positive outlook for KNC on Jan. 22, before the latest price spike. It is based on a score that comprises an algorithmic assessment of past and present market circumstances based on various data sources such as market mood, trading volume, latest price changes, and Twitter traffic. 

The Score for KNC surged into the green and reached a peak of 79 on Jan. 22, roughly 35 hours before the price gained 44 percent over the following three days, as seen in the chart above.

The post Kyber Network (KNC) outperforms most cryptocurrencies with a 57 percent gain in January appeared first on Coin Journal.

• Internet Computer’s token ICP is trading at $20.7. 

• The $28.5 level has been a lengthy support zone, and the price has now fallen through it. 

• Price wants liquidity, and ICP may find it in the $28 range in the coming weeks.

It looked to break the market framework in early January, but the severe selling pressure subsequently has caused ICP to reach a new record of lows at $19.1, close below the $20.9 lows established in late December.

Two pairs of Fibonacci retracement lines were developed for various ICP movements in the last several months. They exhibited solid convergence around $39.7 and identified the $26.9-$29.7 range as one where sellers might move in with power once again.

A rise to $28 is possible, but whether it is rejected there or can advance higher to enter a demanding sector remains visible.

Another intriguing fact was that both Fibonacci groups of levels provided a 27.2 percent extension level at $10.7, which might be the price ICP trades in the future months. It is uncommon for cryptocurrencies to lose over 99 percent of their value when the initial frenzy wears off.

RSI Oversold

The RSI was rising from the oversold area. Still, it remained below neutral 50, which indicated that the bearish trend had not yet been broken, with the moderate 50 regions reviewed before a probable rejection.

The Cumulative Delta Volume revealed some demand underlying ICP’s rise from $20 to $36, revealing severe selling pressure in recent weeks. ICP will most likely place a premium on the $28 range in the following weeks.

The post ICP is expected to go next after falling below current lows appeared first on Coin Journal.

• On Saturday, Decentraland (Mana) expands the consolidated movements.

• Expect the rally to continue beyond the $2.50 to $3.0 demand zone.

• A breach below $2.03 would invalidate the bull’s hypothesis.

The price of Decentraland has remained stable at current levels, making a hammer candlestick on January 22. Although there is less purchasing activity in cryptocurrencies, they are still building a bullish setup. MANA/USD is now trading at $2.31, up 1.23 percent on the day. The current market capitalization of MANA is $4,304,417,127 USD, with a current circulation of 1,824,500,835 MANA coins and without maximum supply.

Decentraland (MANA) prepares for a U-turn

The price has been on a downward trend on the daily charts since testing the 50-day moving average on December 27. The price had already dropped from all-time highs of $5.91 on November 25, a total value drop of 48 percent. Investors challenged the $3.06 level three times, a support-turned-resistance level. As a result, it is a critical trading level.

In addition, the bulls would dig deep to reclaim the psychological $3.06 level. This will also coincide with the 50 DMA re-test. A clear break above this level might entice additional investors to join the renewed upward trend.

Conversely, the bullish thesis will be invalidated if the price falls below the $1.98 horizontal support line. The $1.50 level would be the objective for sellers. More fall is likely targeting the descending channel’s bottom trend line at 1.32. The last time these levels were witnessed was in October.

The post Decentraland (MANA) could rise after finding support at $1.75 appeared first on Coin Journal.

• The AVAX price receives dynamic support from the 20-day EMA line.
• In the daily chart, the RSI slope indicates a significant rebound.
• The AVAX Network coin’s intraday trading volume is $1.81 million, representing a 20% loss.

The price of AVAX had a substantial drop in January. The coin’s value plunged by half in less than a month to $53.6. This collapse has been extended by the recent relief rally in the AVAX/USD combination, which has created an inverted flag pattern.

The AVAX price demonstrated a relief bounce to the $97 barrier.  However, the crypto market’s abrupt sell-off breached the 200-day EMA and 50 percent Fibonacci retracement, bringing the coin’s price down to $53.

The bearish onslaught has been halted by a common support zone of $53 and 0.618 FIB level, which has sparked a retest of the 200-EMA. If sellers can keep the AVAX price below $76 for an extended period, the coin’s price will continue to fall.

The RSI slope has quickly recovered from the oversold zone due to recent price surges. The slope has passed above a resistance trendline and the 14-SMA line, suggesting that coin buyers are becoming more powerful.

On the 4-hour set timeframe graph, the AVAX/USD pair is forming an inverted flag pattern. Once the coin price falls off of the rising support trendline, this bearish continuation pattern might present a good selling opportunity.

Crypto traders may anticipate a decent rebound potential if the ALT price breaks over the joint resistance of $77.8 and the 20-day EMA line. The falling ADX slope indicates a loss of selling momentum. A break out of the price pattern, on the other hand, would set off an upward trend.

The post Avax forms an Inverted Flag Pattern indicating continued Correction appeared first on Coin Journal.

• Terra Luna was born out of the need for market stability in the crypto market.
• Luna’s value has seen an 18% decrease during the last 24 hours, a 50% drop from the all time high of $103.3400 on December 27.
• Price expected to bottom out at around $25, close the day at $33.

Terra platform was created in 2018 by Daniel Shin and Do Kwon. The pair’s motivation was a novel digital currency which would fit the current economy’s elasticity. Terra was conceived to be both stable-priced and driven by growth to attain price stability through a variable money supply, powered by unchanging mining enticements.

Terra is an algorithmic-based, decentralized, and investor profit sharing style stablecoin-generating system and platform comprising several stablecoins ($UST) and the native token Luna. Currently, Terra is among the top 10 cryptocurrencies with impressive numbers.

It has a market cap of $19,286,510,087 24, hourly trading volume of $3,007,537,766, fully diluted valuation of $48,152,817,826, circulating supply of 400,527,133, total supply of 818,249,192 and maximum supply of 1,000,000,000.

After having gone through an impulsive move up until mid-December 2021, a massive sell off saw a price drop before overshooting to the all-time high of $103.3400 on December 27. Since then the coin has started a correction trend with a 50%+ drop in price, 30% down in the last week, and an 18% drop within the last 24 hours expected to end the day at around $33.

Renowned traders are expecting the low price to max out at around $25 before an upward trend resumes. Increased borrowing, an injection of capital into yield reserves, and a rise in Bitcoin price are expected to see the price of Luna among other coins rise fueled by investor confidence.

The post Terra Luna suffers an 18% loss in 24hours appeared first on Coin Journal.