Kategorie: Altcoin News

• Fantom token has recovered by 28% in the last seven days

• Developments around Fantom asset base have boosted the cryptocurrency

• FTM has hit a descending trendline and could correct 

Fantom (FTM/USD) trades at $0.24 as of press time, its highest level in nearly a month. The cryptocurrency has risen by 28% in the past week, a robust recovery since it bottomed at $0.17. The gains come amid positive cryptocurrency news.

The latest FTM gains came as reports suggested that the Fantom Foundation earns consistent profits. According to the financial records dated November 28, Fantom was generating more than $10 million annually. The reports also indicated that Fantom could have about $340 million worth of digital assets. The assets could last 30 years without the foundation having to sell its stash of FTM tokens.

With many crypto firms and exchanges under a liquidity crunch, the records of Fantom boosted investors’ confidence. Addresses holding Fantom tokens saw a strong increase in November from the smallest to the largest investors. The accumulation suggests that investors anticipate a recovery in the cryptocurrency’s price, which has lost 93% from its ATH. But can buyers sustain the recovery?

FTM heading to the descending trendline 

FTM/USD Chart by TradingView

Technically, the Fantom token has recovered above crucial support at $0.20. The recovery has seen the cryptocurrency move above the moving averages. However, the token remains trapped by a long-term descending trendline. 

The RSI reading shows that FTM is nearing overbought levels at the descending trendline. A possible correction could occur before buyers have a chance to break the crucial barrier.

What next for FTM?

A breakout above the descending trendline will confirm further gains in Fantom token. A breakout will allow buyers to ride to $0.30 next and $0.40.

On the flip side, FTM will be rejected at the descending trendline. That will allow bears to force a correction back to $0.20. However, with growing FTM accumulation, buyers may crave another chance to break above the descending trendline.

Where to buy FTM

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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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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The post Fantom eyes a breakout. Is the token about to post sustainable gains? appeared first on CoinJournal.

• Shiba Inu has recovered 11% in a week.

• Shiba Inu token has witnessed increased activity amid improving altcoin sentiment.

• SHIB is still bearish and could remain vulnerable to $0.0000075.

Shiba Inu (SHIB/USD) large investors are defiantly transacting the token against the prolonged bear market. November 28 WhaleStats data showed that SHIB was among the top 10 cryptocurrencies by trading volume among the biggest Ethereum whales. IntoTheBlock data also showed that large transactions on the Shiba Inu network had increased by 141% in the last 24 hours.

A spike in trading volumes and transactions indicates traders are buying or selling SHIB aggressively. However, a price outlook of SHIB shows the cryptocurrency has gained an intraday of 2.24% and 11% in a week. It suggests that large investors could, in fact, be buying the meme cryptocurrency.

The whale activity on Shiba Inu comes when Santiment data shows growing interest in altcoins. According to the data, Euphoric sentiment has hit a 3-month high for altcoins. As CoinJournal reported, Dogecoin was leading the surge on Musk news. The gains in SHIB reflect the improved sentiment, with the meme cryptocurrency known to follow DOGE moves.

SHIB price outlook and analysis amid weekly recoveries

SHIB/USD Chart by TradingView

On the technical side, the SHIB price is still in a bear market. The MACD indicator has initiated a bullish crossover but remains bearish. The RSI reading of 45 is well below the midpoint.

Besides, recent recoveries have taken SHIB to slightly above $0.000009. However, bulls are yet to recapture important levels. We consider a bearish view for SHIB in the short term.

When to buy SHIB?

SHIB price remains vulnerable as long as buyers do not recapture $0.000012. The level is the established resistance and a focal point for the SHIB trend pivot.

Even as the price recovers slightly, the upside is weak, meaning sellers could try to push the token lower again. In a bear scenario, SHIB could find support at $0.0000075. This is the same low as June before the cryptocurrency initiated a recovery.

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.

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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 Should you buy Shiba Inu as whale accumulation intensifies? appeared first on CoinJournal.

• ApeCoin token has registered 25% gains in the past one week

• Bored Ape NFTs continue to attract high prices amid a prolonged crypto winter

• APE could stay bullish up to the 50-day MA or descending trendline

With gains of 25% in a week, ApeCoin (APE/USD) is among the top 3 return cryptocurrencies in the #50 rank. The gains come after APE reached a new low of $2.7. The last low for the cryptocurrency was $3.0 in June. APE has now overcome the bottom and was trading at $3.8 as of press time.

No significant news is influencing APE price, but potential optimism could be crawling back. According to the latest developments, Bored Ape NFTs are in demand. On November 23, an NFT from the Bored Ape Yacht Club collection sold for $950,000 or 800 ETH. The same was made to an NFT collector Keungz, who has multiple of them from Yuga Labs. Another sale between two unidentified wallets was made for nearly $940,000 or 780 ETH. Both sales were made above the current floor price amid a prolonged crypto winter that has hit NFTs.

Meanwhile, the ApeCoin community DAO has launched its own marketplace for the ecosystem NFTs. The marketplace was launched on November 24. It will support the transactions from BAYC collections, Mutant Ape, Bored Ape, and Otherdeed. These developments could attract attention to the APE token.

APE on a short-term price appreciation

APE/USD Chart by TradingView

A technical outlook shows APE has initiated a short-term recovery. The MACD indicator has shifted above the neutral zone and shows that momentum is improving for APE. The cryptocurrency has recovered above the 20-day moving average.

However, APE trades below a long-term descending trendline. Also, in the last two previous bullish attempts, APE has been rejected at the 50-day MA. The token now trades near the key moving average.

What next for APE?

APE price will continue to rise in the short term as momentum remains in place. However, longer-term recoveries will be determined by whether bulls will push the price above the 50-day MA and descending trendline.

Where to buy APE

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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Nexo

Since 2018 Nexo has strived to bring professional financial services to the world of digital assets. Leveraging the best of the team’s years of experience in FinTech along with the power of blockchain technology, Nexo empowers millions of people to harness the value behind their crypto assets, shaping a new, better financial system.

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The post Has ApeCoin turned bullish after weekly 25% gains? appeared first on CoinJournal.

• 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.

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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.