Santiment says Cardano sellers are getting exhausted but does price action show it?

  • Cardano lost 3.22% on Wednesday to hit the lowest in the year at $0.25

  • Santiment data holds that bears are decreasing in numbers and losing control

  • ADA price action is extremely bearish, and lower prices are possible

Cardano (ADA/USD) looked headed for a new low on Wednesday as the price lost 3.22% to trade at $0.25. The price was the lowest in the year, with ADA still likely falling further. However, Santiment data could revive hopes, although ADA bulls would be disappointed that the price action isn’t positive. 

According to Santiment, ADA sellers are getting exhausted, while the cryptocurrency is “severely undervalued.” As ADA trades on a system of lower lows and lower highs, Santiment points out that there is falling selling power. The insights platform shows that as the token makes one downward movement, fewer coins are marked with a loss on the network. This has been interpreted as the strongest reversal sign as bears are gradually losing power. 

Besides, whale accumulation has been on the rise for Cardano in the last six weeks. But as you are too aware, Cardano has seen whale activity for a larger part of 2021. That has been interpreted to mean that whales are attracted to the low valuation of Cardano. However, this does not tell about the short-term price action since whales are believed to accumulate for the longer term.

ADA on a new low as price weakens on a descending channel

ADA/USD Chart by TradingView

On the daily chart, Cardano has maintained the descending channel with limited price surges. The price has mainly traded at the bottom of the descending channel range, indicating that bulls are keeping off. The RSI shows that ADA is currently oversold. 

Which way, Cardano?

It could be premature to buy ADA, despite Santiment data suggesting bear exhaustion. There is no clear bullish reversal, and we maintain a downtrend bias. From a technical point of view, a clearance of the descending channel is the needed confirmation for a bullish reversal.

Where to buy ADA

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 ADA with OKX today

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Chainlink losing $6 will be a bear trigger, but Michaël Van De Poppe is optimistic

  • Chainlink has temporarily lost the support at $6

  • Michaël Van De Poppe expects the price to rally to $16 next year

  • LINK faces pressure, and the momentum is bearish

Chainlink (LINK/USD) was trading $5.74 as of press time. Technical indicators show that the cryptocurrency has lost support at $6, although a bear momentum is yet to be confirmed. Will the new year spell doom if bulls do not recover above $6?

Potentially yes, since LINK bulls have always defended $6. Any time the price crashes below this level, buyers arrest it quickly, making it an important zone. A loss of $6 will, therefore, be a bear trigger for LINK in early 2023.

Crypto analyst Michaël Van De Poppe expects Chainlink to be bullish next year. According to Poppe, Chainlink will rally to $16 if bulls reach a resistance area of $7.78. However, Poppe says LINK can fall below $5 before igniting a bullish push.

LINK price and technical outlook

LINK is consolidating within a range of between $6 and $8. Any break below the range low could take the cryptocurrency down. Bulls will gain interest if the cryptocurrency breaks above the range low.

LINK/USD Chart by TradingView

Technically, selling pressure is high on LINK. The RSI points down and remains near the oversold region. A further decline heightens the bear pressure, with LINK now staring at a possible drop below the consolidation. The new few days of trading will be exciting to watch how LINK behaves around the support.

Can LINK recover the $6 level?

Although a price below $6 would be considered bearish for LINK, we need to watch the close of the daily candlestick. A bullish reversal will be confirmed if the candlestick closes with a long wick on the lower side (bullish pin bar).

Conversely, a bear market will be confirmed if LINK closes with a long wick on the upper side and the price breaks further lower. For LINK bulls, it is important to wait for confirmation.

Where to buy LINK

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 LINK with eToro today

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 LINK with OKX today

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Litecoin rallies from a support zone as trading volumes rise

  • Litecoin correction was contained at the $64 support

  • Michaël van de Poppe expects LTC price to rally 22%

  • LTC is a good buy on the current retracement for short-term investors

Litecoin (LTC/USD) may be well on course to another bullish rally. Despite the cryptocurrency cooling off from its recent gains, bulls have defended the $64 support as the price retraced. LTC has now initiated a short-term recovery above the support. 

While technicals depict a potential rally in LTC, crypto analyst Michaël van de Poppe says the uptick will continue. Poppe says LTC price could rise by at least 22% from the current price level. To emphasise his point, the analyst notes Litecoin is demonstrating strengths. He says he will be interested in some scalp trades at the $69 level, with options to go long around $66.75, targeting $78 and $84. LTC traded at $67.48 as of press time and was on a slight bear correction.

Meanwhile, development activity on Litecoin is on the rise. Santiment data indicates that activity grew strongly in September before peaking in October. As of December 27, Litecoin was the second most active chain. It recorded $2.88 billion in transaction volumes after Bitcoin’s $3.98 billion.

LTC recovers at the 38.2% fib level but above $64 support

LTC/USD Chart by TradingView

Incorporating the Fibonacci retracement levels on LTC daily chart, the token’s price initiated a recovery at the 38.2% fib level. Momentum increased as the cryptocurrency recovered the 50% fib level. LTC is also maintaining a short-term bullish trendline. The bulls have now successfully defended the $64 support.

LTC concluding thoughts

Technicals and fundamentals align for LTC price. There is a clear uptrend, with price recovering key levels that spell a bullish surge for the cryptocurrency.

LTC is a good buy, with a price potential of up to $84, the previous resistance level. However, buyers would still target areas around $70, the 61.8% fib level, and $76, the 78.6% fib level. A further uptick in LTC will depend on the ongoing fundamentals and developments. Investors can buy on the short-term retracement.

Where to buy LTC

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 LTC with eToro today

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 LTC with OKX today

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XRP attempts recovery, but how is the SEC case shaping price?

  • XRP price has remained tied to the ongoing Ripple case with SEC

  • SEC recently filed a motion to restrict the Hinman documents

  • $0.40 is the level to watch on the bull side or $0.30 on the bear side

Ripple (XRP/USD) has been on a short recovery since falling below $0.34. Despite losing an intraday of 3.20% as of press time, it looked stable even as Ripple’s case with SEC drags on.

For a long time, the SEC’s case has been a price driver for XRP. However, recently, investors have adopted a wait-and-see attitude amid speculations that the case was nearing an end. Up to this point, nothing is confirmed yet, but the ongoing legal tussles shape XRP trading.

The latest development in the longstanding case involved the SEC filing a motion to restrict the Hinman documents. SEC lawyers allege that the documents should be protected from the public since they carry sensitive matters. It should be remembered that Ripple has often called for the documents to be made public. If the SEC’s wish is granted, that could be a blow to Ripple. 

With XRP continuing to reflect the case, it is obvious that any win for the SEC will hurt the token’s price. Consequently, Ripple will come under bear pressure. Similarly, a win for Ripple would increase speculations of SEC getting defeated at the end and boost XRP. That could see the cryptocurrency resume the uptrend.

XRP trapped by $0.40 resistance but holds strongly above $0.30 support

XRP/USD Chart by TradingView

From the technical outlook, XRP is trading within a range. $0.40 is the resistance at $0.30 is the support. Any break above or below these levels will spell a win for bulls and bears, respectively. Momentum is, however, improving, with the MACD indicator shifting above the signal line. The indicator still shows XRP is bearish.

What next for XRP?

XRP price will be determined by the developments around Ripple’s case with SEC. To a technical reader, it is important to buy the cryptocurrency on a confirmed breakout.

Where to buy XRP

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 XRP with eToro today

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 XRP with OKX today

The post XRP attempts recovery, but how is the SEC case shaping price? appeared first on CoinJournal.

Altcoin Price Prediction 2030: Cronos (CRO), Polygon (MATIC) and Metacade (MCADE)

Making an altcoin price prediction for 2030 is an almost impossible task. Many experts don’t know where the crypto market will even be next year, which makes any long-term predictions particularly challenging. 

However, the success of a project can be determined by its utility. And three projects that have great utility are Cronos (CRO), Polygon (MATIC), and Metacade (MCADE). Each has the potential to revolutionize an industry and change the way people interact with Web3. Here’s what the altcoin price prediction for each could be in 2030. 

What is Metacade? 

Metacade is setting itself up to be a gaming-centered platform, aiming to bring together developers, gamers, and crypto enthusiasts to collaborate and create new ideas in the world of play-to-earn (P2E) gaming. Built on the Ethereum blockchain, it will offer users a unique community hub where they can play games, interact with others in real-time, and be rewarded for their contributions with the native $MCADE token.

One of the key features of Metacade is the Metagrants fund, which will allow developers to submit proposals for game development and receive funding if their proposal is voted the best by $MCADE holders. This innovative initiative is set to launch in 2023 and will help drive the growth and development of the platform.

In 2024, Metacade will also launch a job board as part of the Work2Earn initiative. This feature will provide users with access to gigs, internships, and jobs in the gaming industry and beyond, giving them the opportunity to connect with top employers.

To further boost income and ensure that each area of the platform runs smoothly, Metacade has implemented a staking mechanism that rewards community members for their participation and contributions. This innovative approach helps to build a community where everyone can benefit and profit.

As the platform grows and evolves, Metacade has set its sights on becoming a fully decentralized autonomous organization (DAO) in 2024. This ambitious goal will see the platform transition into a DAO and achieve DAO governance, putting the power firmly in the hands of the community.

How does $MCADE work?

$MCADE is Metacade’s governance and utility token. It’s built on the Ethereum network and is used for prize draws, tournament rewards, and payments within the ecosystem. It’s also used to reward those who contribute to the platform. 

$MCADE is being sold over 9 presale stages, in which 70% of the token supply will be available. The remaining tokens will be split as follows:

  • 12.5% marketing and CEX listings 
  • 10% development team
  • 5% DEX liquidity provision 
  • 2.5% competition rewards

Metacade (MCADE) Price Prediction For 2030

Metacade is currently priced at $0.01 in its 1st stage presale round and will reach $0.02 by the end of presale stage 9. By 2025, it could become a household name, rising to a forecast high of $2 while pioneering the future of Web3 gaming. This would make it a strong investment compared to other altcoin price predictions for 2023.

During the first four weeks of its presale, Metacade raised almost $1.25 million, setting it up for long-term success. With the project looking realistic in delivering its achievable roadmap, Metacade could easily reach highs of $25 by the end of 2030.

Polygon (MATIC) Price Prediction For 2030

One great altcoin price prediction is Polygon. Polygon (MATIC) is a DeFi project designed to improve the scalability of Ethereum. It lets developers build scalable, user-friendly decentralized apps (dApps), with low transaction fees and the highest level of security. 

To achieve this, Polygon combines the best features of Ethereum with sovereign blockchains to create a full-fledged multi-chain system. By combining these features, Polygon ensures dApps can fully benefit from the Ethereum network whilst being secure, open, and more powerful. 

Polygon’s token, MATIC, has experienced a 58.69% decrease in price over the past 12 months and is currently valued at $0.864. Analysts predict MATIC could increase to $12.34 by 2030, however many are skeptical about this rise. 

Cronos (CRO) Price Prediction For 2030

Another positive-looking altcoin price prediction is Cronos. Cronos is a decentralized, open-source public blockchain designed to be energy efficient while guaranteeing high transaction speeds at a low cost. The aim of the project is to support the creator economy, working as the foundational infrastructure for DeFi and GameFi, and, eventually, an open metaverse. 

Its native token, CRO, is used for trading on Crypto.com, one of the world’s largest crypto exchanges. It is used for transactions throughout the platform and can also be purchased on other exchanges. 

CRO is currently worth $0.06107, down 88.66% in the last 12 months alone. Analysts suggest that CRO could increase to $5.94 by 2030, however, given the recent exchange scandals, many investors are wary about buying cryptocurrencies linked to an exchange. As a result, this number may not be as high as first predicted. 

Conclusion – Metacade Looks Set to Climb

In conclusion, all three of the altcoins mentioned in this article – Cronos (CRO), Polygon (MATIC), and Metacade (MCADE) – are possible investments with the potential to revolutionize their respective industries, with investor sentiment having a great effect on their price predictions.

However, based on its utility as a gaming platform, strong token performance during its presale, and ambitious roadmap, it appears that Metacade (MCADE) is the clear winner. It has the potential to reach highs of $25 by the end of 2030, making it a stronger investment than many altcoin price predictions for 2023 and one that should be closely watched in the weeks ahead.

You can buy Cronos and Polygon at eToro here.

You can participate in the Metacade presale here.

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