Kategorie: Altcoin News

Altcoin news about alternative blockchains and its crypto ecosystems.

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Litecoin price prediction: can bulls pick up new momentum for LTC?

  • Litecoin price traded above $90 on Sunday, with LTC hitting intraday highs of $91.60.
  • While price has rejected twice above $100, the area remains a key target for bulls as Bitcoin retests the $30k level.
  • If it breaks above the hurdle, fresh momentum heading into the Litecoin halving in August could catapult LTC price towards its all-time peak.

Litecoin (LTC) is trading around the $90 level after bulls battled to regain some control following the sharp sell-off to lows of $84 this past week. The weakness in the price of LTC came after another dip in March that saw the price rejected at year-to-date highs of $106 in February.

The decline occurred at a key horizontal resistance area at the $100 zone, which remains the main hurdle as Litecoin enters the last few months before its halving in August.

Litecoin price: are bulls taking control?

The LTC price rejection in the past weeks at $100 meant a double top pattern appeared, which signals bearish strength and highlights the potential for downward continuation. As it happened, LTC price broke below an ascending trendline support after hitting $103 on 18 April and a significant drop a few days later had LTC/USD hugging lows of $84.

But despite the previous gains being wiped out by the decline, LTC is currently trying to maintain the $90 area after a critical daily close above it.  Bulls will need to confirm they are getting in control by pushing higher even as a potential rising channel appears on the daily chart.

A look at the Relative Strength Index (RSI) shows the momentum indicator is just below the 50 line. However, the indicator is looking to cross above the signal line to suggest further possible accumulation of the altcoin.

Litecoin price LTC/USD daily chart outlook. Source: TradingView

Litecoin price prediction ahead of halving

With approximately 100 days left before halving, the Litecoin price prediction for 2023 is bullish. The network has continued to see greater miner confidence, with the total hashrate for the blockchain recently hitting 760 terahashes per second(TH/s).

If the expected halving rally kicks in amid a broader market uptick, the two main targets above $100 will lie around $180 and then $300. The all-time high for LTC is around $410 reached in May 2021.

On the flipside, a bearish reversal could see the long term resistance-turned support area of $65 come into play. Below that, the main buffer for Litecoin price remains the multi-year base around $40.

The post Litecoin price prediction: can bulls pick up new momentum for LTC? appeared first on CoinJournal.

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Kaspa price: upside cools as major exchange delays KAS listing

  • Kaspa price rose to highs above $0.031 before giving up gains to sit around $0.030.
  • The upside momentum for the altcoin was derailed as major exchange Uphold announced it was delaying the listing of KAS.
  • Uphold says the delay is due to a technical issue that will soon be sorted out.

Kaspa (KAS) was among the biggest gainers earlier today as cryptocurrencies looked to bounce following Bitcoin’s sharp decline overnight Wednesday.

In the past 24 hours, as BTC looked to reclaim $29,000, the price of Kaspa rose more than 10% to break above $0.031. The upside saw KAS bulls begin to eye the token’s all-time high near $0.043 reached on 2 April 2023.

That attempt to put bears in their place is on hold though as one of the major catalysts for the altcoin going up was the impending listing on a major US crypto exchange

Uphold delays listing of Kaspa (KAS)

On Thursday, Uphold, which was set to be the first centralised crypto exchange in the US to list KAS, announced it would be delaying the listing. The multi-asset digital asset platform said the “difficult decision” had been taken due to technical issues.

But despite the delay, Dr. Martin Hiesboeck, the Head of Research at Uphold, has assured KAS holders that the issue was “minor” and will soon be solved. He tweeted:

“As we’re expecting *high demand*, we’ve taken the difficult decision to delay this listing due to some technical issues – to ensure you get a smooth and fair trading experience and best execution. Won’t be long, it’s a minor thing we’ll sort out soon.”

He offered to explain everything on the Twitter Space.

After seeing a double digit uptick in price, with weekly gains rising to over 30%, Kaspa price is just in the green in the past day (at the time of writing) and about 28% higher over the week.

Currently, KAS can be traded on multiple exchanges, including MEXC Global, Gate.io and BingX. The token’s recent momentum has come amid a flurry of listings, including on LBank and Bitget.

The post Kaspa price: upside cools as major exchange delays KAS listing appeared first on CoinJournal.

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Rocket Pool price dumped as whales sold at the local top

The price of Rocket Pool (RPL) faces fresh downside pressure near $45, with bulls’ attempting to turn the level into a new primary support zone. As of 12.50 pm ET on Friday, the RPL token was trading around $46.60 – about 2.4% down in the past 24 hours.

RPL is one of the altcoins that rallied hard as Ethereum activated the Shapella upgrade.

RPL price- data shows whales sold right at the local top

As CoinJournal highlighted on 14 April, Rocket Pool, Arbitrum and Loopring were among the altcoins to swell as Ethereum (ETH) broke out to $2,100 after the Shapella upgrade. The profit pivot to altcoins saw Rocket Pool’s RPL soar past its previous peak, amid increased buying pressure as the Atlas upgrade inched closer.

According to on-chain data from crypto market intelligence platform Santiment, the Rocket Pool price dumped as whales took profits right at the local top.

On 16 April 2023, RPL price rose to its all-time high of $61.87 before the momentum faded. Santiment says the cryptocurrency continues to see large whale volumes to add to the 70 that involved more than $100,000 worth of RPL.

The 70 transactions signaled the top for Rocket Pool price and is the second largest whale dump for RPL after the 111 large transactions involving more than $100k on 8 November 2021. At the time, RPL price had hit its then ATH of $59.47, Santiment noted.

Rocket Pool price prediction

Although Rocket Pool’s native token is up 14% over the past month, declines over the last two days have seen RPL/USD shed more than 25% from its recently hit all-time high.

In terms of short term Rocket Pool price prediction, further weakness in the Rocket Pool market could see the token’s price hurtle towards $38 or lower.

The post Rocket Pool price dumped as whales sold at the local top appeared first on CoinJournal.

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FET price slips as bears threaten bullish outlook

  • FET price dipped 8% to support near $0.38
  • Today’s sell pressure comes after FET/USD broke higher after a pennant pattern.
  • Fetch.ai is a leading artificial intelligence related crypto project.

Fetch.ai price has retraced to support near $0.38 amid a broader crypto market dip that has Bitcoin again below $30k and Ethereum under $2k.

According to data from CoinGecko, the price of FET was down more than 8% in the past 24 hours on Wednesday morning, with the technical picture suggesting possible breakdown to a recent support zone.

This could be the case if bears take advantage of current weakness to force prices lower.

FET price prediction: bulls need to hold onto gains

Fetch.ai is an artificial intelligence-powered blockchain platform that seeks to enable full decentralisation of peer-to-peer transactions. The platform has announced new crypto trading products for DeFi users as the ecosystem embraces the benefits of artificial intelligence in trading.

The price of Fetch.ai has been one of the altcoins to profit from the sentiment around the AI in crypto narrative in 2023.

As can be seen in the Fetch.ai price chart below, FET/USD recently formed a bullish pennant – a technical indicator that usually suggests continuation on the upside.

Fetch.ai price prediction daily chart. Source: TradingView

But this outlook could be jeopardised if prices dip further, with primary support then expected near $0.34.

FET also has the daily RSI flipping downwards from near the oversold territory, while the MACD remains above the signal line but is suggesting weakness. If bears take charge, the recent consolidation zone between $0.25 and $0.29 will offer a crucial buffer should market weakness continue.

On the upside, if more buy FET pressure materialises, a flip to the February highs of $0.60 could be possible in the coming days. The immediate outlook suggests the area around $0.40 should offer the main resistance before a +60% breakout to the aforementioned target.

The post FET price slips as bears threaten bullish outlook appeared first on CoinJournal.

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Altcoins thrive amid Ethereum’s breakout to $2,100

  • Altcoins are soaring, with the prices of Arbitrum, Aptos, Loopring , Optimism and Rocket Pool seeing double digit gains.
  • Ethereum price broke above $2,100 and ARB, RPL and OP prices are among the biggest gainers in the top 100 cryptocurrencies by market cap today.
  • Analysts says altcoins have been buoyed by ETH breakout after Shanghai, even as Bitcoin dominance fell.

Altcoins are thriving, but have a small window to see some joy amid the latest spike for Ethereum price, a top analyst has said.

Crypto market intelligence platform Santiment highlighted the move among altcoins as coming amid a pivot of profits from Bitcoin to smaller cap cryptocurrencies. The sentiment flip around alts also happens at a time Ethereum dominates the social discussion volume following its breakout above $2k.

ARB, RPL and OP prices soar as profits pivot to altcoins amid ETH breakout

On Friday, as ETH broke above $2,100 for the first time since May 2022, several altcoins followed suit, with Aptos (APT), Arbitrum (ARB), Rocket Pool (RPL), Optimism (OP) and Loopring (LRC) registering mega moves.

Arbitrum has spiked more than 18% in the past 24 hours to hit highs of $1.57, while Aptos price was also up double digits as bulls pushed for $14. 

Meanwhile, Loopring traded to highs of $0.45 with +11% and Rocket Pool traded to near $52 with 18% in 24 hours. Optimism price rose to $2.64 with another +10% gain.

According to on-chain data, the altcoin market is starting thrive after Bitcoin (BTC) dominance over the past few weeks.

While BTC extended its gains above $30k – hitting highs of $30,800 on Friday – the major move was seen in Ether after the super successful Shanghai upgrade. 

ETH/USD first broke above $2,000 and then followed that up with a decent punch above $2,100 (buying pressure pushed Ethereum price to highs of $2,130 on crypto exchange Bitstamp.

Analyst Captain Faibik says the Bitcoin Dominace as measured by the market cap parabolic curve formation is showing a sell point. BTC dominance has shrunk to 44%, while that of Ethereum has risen to 19%. As the price of BTC rises and BTC.D falls, it suggests alts have a massively bullish opportunity and may begin to rally.

Altcoin rally? Analysts warn traders

While top crypto analysts are pointing to Ethereum as “a leading indicator for altcoins,”(we highlighted Rekt Capital’s view here), some have said the “window” might not be that big and a pullback is likely. 

Scott Melker, author of The Wolf Den Newsletter, says altcoin traders should “enjoy it while it lasts.” 

Michael van de Poppe expects Bitcoin to rally to $40k and Ethereum to $2,800-$3,000 range. Alts should be seeing some momentum too – but the window will likely be small, he noted.

The post Altcoins thrive amid Ethereum’s breakout to $2,100 appeared first on CoinJournal.