Kategorie: Altcoin News

Altcoin news about alternative blockchains and its crypto ecosystems.

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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.

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ETH is a leading indicator for smaller altcoins, top analyst says

  • ETH price rose to highs of $2,009 on Binance.
  • Ethereum’s Shanghai/Shapella upgrade went live successfully on Wednesday,12 April, 2023.
  • Crypto analyst Rekt Capital says Ether’s price movement is a “leading indicator” for altcoins and that coming weeks could be interesting.

Ethereum price rallied past the $2,000 level on Thursday, rising to highs of $2,009 on crypto exchange Binance.

The uptick for the ETH price above the key hurdle came after the world’s largest proof-of-stake blockchain network underwent a successful software upgrade.

As CoinJournal highlighted earlier Thursday, ETH had looked to break above the psychological level following the Shanghai upgrade. After the upgrade went live and withdrawals of staked ETH enabled, bulls defied negative projections to break above a supply zone that has held since August 2022.

ETH breaks $2,000 as analyst says altcoins could be interesting in coming weeks

According to crypto analyst Rekt Capital, the top altcoin is a “leading indicator for smaller altcoins.” He suggests the breakout for Ethereum could trigger new momentum for some of the leading altcoins, probably highlighting the possibility of an alt season kicking off.

“ETH is a Leading Indicator for smaller Altcoins. This is why the #ETH breakout may very well set the stage for an interesting period for other Altcoins in the coming weeks,” the highly respected crypto trader and analyst said.

Rekt believes the Bitcoin bull market is just starting, but Ethereum’s price movement suggests current prices might be a great entry point for many alts.  

“ETH at $2000. That’s one reason why it might be worth entering Altcoins early on in this #BTC Bull Market,” the analyst tweeted.

Ether is currently trading around $1,998, roughly 4.8% up in the past 24 hours.

The post ETH is a leading indicator for smaller altcoins, top analyst says appeared first on CoinJournal.

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Magic price prediction: MAGIC poised for 25% gains as token goes live on Upbit Global

  • MAGIC price has jumped 35% in the past week and was up 7% on the day.
  • The token is live on Upbit Global, a crypto exchange based in South Korea.
  • Gaming projects on Treasure use MAGIC.

The price of Magic (MAGIC) exploded ahead of the token’s listing on major cryptocurrency exchange Upbit Global on Tuesday.

MAGIC is the native token of Treasure, the decentralised gaming ecosystem that connects games and gamers. Treasure also connects the gaming community via non-fungible tokens (NFTs). Projects use MAGIC, and the latest listing could be a big factor in price movement over coming days.

Magic tokens are available on multiple top crypto exchanges, including Coinbase, Binance, Gate.io and now Upbit makes it even more accessible to one of the largest blockchain gaming markets in the world.

MAGIC price analysis: MAGIC could pump 25% to $2.33

MAGIC was trading in the green on the day as most altcoins struggled amid liquidity rotation into a rolling Bitcoin market that had BTC trending above $28,000 for the third day after breaking its macro downtrend.

As for Magic price, it traded at 0.00006594 BTC at around 8:00 am ET on 21 March, up nearly 1.2% a few hours after the token listed on the South Korea based crypto exchange with the BTC/MAGIC pair.

Against the US dollar, MAGIC was changing hands around $1.87 and was up 7% and 35% in the past 24 hours and 7 days respectively. The gains follow an upside momentum buoyed by the hype around Arbitrum (ARB).

MAGIC price movement on Binance. Source: TradingView

From a technical point of view, MAGIC price has stayed above the 20 day exponential moving average since breaking above its resistance on 14 March. However, bulls have twice failed to break the immediate barrier at $1.96, making the resistance level at $2.00 the main target in the short term.

If bulls successfully breach the supply wall at this level, they could confront the hurdle expected around $2.15 – the point of major rejection on 7 February that saw MAGIC eventually retest lows of $0.99 on 11 March 2023.

An upside continuation, which is supported by the rising Relative Strength Index (RSI) indicator currently above 60, and a positive Awesome Oscillator, Magic could see a 25% upswing to its year-to-date peak at $2.33.  

On the downside, a negative flip from current levels could prices retreat to the immediate horizontal support line near $1.72. The 20-day EMA line at $1.56 could provide the next buffer zone for bulls.

The post Magic price prediction: MAGIC poised for 25% gains as token goes live on Upbit Global appeared first on CoinJournal.