Kategorie: Crypto Analysis

• Binance has announced a string of developments in a bid for global expansion

• BNB is recovering amid positive development

• The upside looks sustainable, but BNB faces resistance at $300

Binance BNB/USD trades at $291, recovering from the September bottom of $260. As of press time, BNB had gained 2.12% in a day amid small recoveries in the broader crypto sector. The gains come when Binance is scoring major wins in global expansion.

On September 28, Binance signed an agreement with Kazakhstan for the shared development of the crypto sector in the country. According to Kazakhstan president Kassym-Jomart Tokayev, Binance will create a “hub for the entire region.” The latest development comes after Binance was, in August, authorized to operate in the country. Kazakhstan remains a key crypto market, coming second in bitcoin mining hash rate after the US.

On October 3, Binance again opened two new offices in Brazil. The move is expected to expand the crypto exchange’s footprint in South America. The exchange recently unveiled a new office in New Zealand and eyes expansion in Italy, France, and Spain.

While we cannot ascertain whether the latest developments are responsible for BNB gains, they add a positive sentiment. A brief technical overview shows the price rally could continue, at least in the short term.

BNB recovers from the $260 support

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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Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

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Source – TradingView

A technical outlook shows that BNB has initiated a breakout from a descending triangle. The bullish reversal occurred as the price settled at the $260 support. From the MACD indicator, the momentum is bullish and increasing. 

Concluding thoughts

BNB looks poised for further gains after a breakout. However, $300 resistance remains a key level to watch. The cryptocurrency must overcome the resistance to find room for the next move to $330.

The post What’s the bullish case for BNB as token initiates recovery? appeared first on CoinJournal.

• Shiba Inu is consolidating amid bearish pressure

• A delay in important network updates is holding back SHIB

• The token is at a level of indecision and could trade either way

Shiba Inu SHIB/USD is locked in a consolidation, currently exchanging for $0.00001122. The price represents a dismal 1.4% increase in the past day. Significant fundamental developments are holding back the price of the canine-themed crypto.

Pressure is mounting over the official deployment of Shibarium. The developer, Unification, outlined the progress of the layer-2 platform last month without getting into the specifics. In the update, the developer said the advisory work was ongoing for the alpha and public testnets.

In other news, Shiba Eternity fans will have to wait longer for the card game. The P2E platform was expected to launch for Android and iOS on October 1. The ‘download day’ has moved to October 6. Aside from the delays, positive fundamentals lie in the SHIB trading volumes.

On October 2, the volumes surged 49%, according to data from EtherScan. The uptick was due to significant whale activities. Two deep-pocketed investors moved 200 billion and 100 billion SHIB tokens across multiple wallets. Despite the whales’ appetite, Shiba Inu remains subdued.

SHIB consolidates amid a downward momentum

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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Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

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Source: TradingView

According to the daily chart above, SHIB is consolidating around $0.00001122. From the Fibonacci retracement levels, any potential uptrend could face immediate resistance at $0.00001286 (38.2%). $0.00001367 (50%) and $0.00001448 (61.8%) are the other levels to watch.

However, with RSI currently at 46, investors will have to wait longer for a trend reversal. The momentum indicator shows that more investors are selling than buying the meme token.

Concluding thoughts

SHIB is consolidating and facing two possibilities, a rally or a continuation of the downtrend. The RSI shows that the price could go lower before a reversal. In the second possibility, investors should be keen on the Fibonacci levels.

The post Shiba Inu continues to struggle. Here is what could happen next appeared first on CoinJournal.

Cryptocurrency prices have remained in a consolidation phase in the past few weeks. Bitcoin has been stagnant at $20,000 while ETH has stayed at $1,300. This trend has frustrated traders who prefer highly volatile periods. Here are some of the top undervalued cryptocurrencies to trade this week.

Reserve Rights Token (RSR)

Reserve Rights Token or RSR is the native cryptocurrency for the Reserve ecosystem. The developers have created a stablecoin that is backed by a basket of other stablecoins like Tether and USD Coin. The network is backed by well-known players like Peter Thiel, Coinbase, and Sam Altman among others. 

RSR price has become relatively volatile in the past few days as investors wait for the upcoming mainnet launch, which will happen this month. It was trading at $0.0096 on Tuesday, which was slightly below this month’s high of $0.010. It has risen by more than 195% from its lowest level this year.

Therefore, there is a likelihood that Reserve Rights will continue being volatile this week, making it ideal for day trading.

How to buy Reserve Rights Token

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.

Buy RSR with Binance today

KuCoin

Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies. Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods. Users can benefit from a beginner-friendly interface and relatively low fees.

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Injective Protocol (INJ)

Injective Protocol is a venture-backed platform that was created to disrupt the finance industry. It is backed by Binance, Pantera, Jump Crypto, and Mark Cuban. INJ, its native token, has a total market cap of over $159 million.

Injective is a blockchain project that developers will make it possible for developers to build DeFi apps. In September, its token saw substantial movements as demand for the ecosystem rose. 

The most important catalyst was the launch of Project X, a project that introduced Automated Market Makers (AMM) with 0 impermanent loss. It also has storage vaults for market making and passive yield generation. Project X also won the Most Promising Launch award at the Cosmoverse event.

Another event that moved Injective was the launch of Helix, previously known as Injective Pro, launched on the network.

Vibrate (VIB)

Vibrate is another undervalued cryptocurrency to trade in October. It is a blockchain project that seeks to disrupt the music industry. It lets people do research on musicians and venues. 

At the same time, it has deep analytics products that provide data on musicians, venues, their social media performance, and audience demographics. It uses a freemium approach, with its premium version going for 108 euros per month. 

Therefore, event managers can use this data to make bookings and predict ticket sales when making bookings. VIB, its native token, has become one of the most active cryptocurrencies recently. It has risen by more than 770% from its lowest level this year.

How to buy Viberate

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.

Buy VIB with Binance today

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 Top 3undervalued cryptocurrencies to day trade this week appeared first on CoinJournal.

Litecoin price has been in a tight range in the past few days as the market participants waited for the next catalyst. LTC has risen in the past two straight days and is trading at $54.76, where it has been in the past few days. It remains about 19.3% below the highest level in September.

Litecoin consolidation continues

Litecoin had a mild performance in September even as market conditions remained volatile. In September, American stocks crashed by more than 10%, with indices like the Dow Jones, Nasdaq 100, and S&P 500 retreating.

At the same time, the US dollar index (DXY) surged to the highest level in more than 20 years. Other key indices signaled at potential risks in the market. For example, the closely watched VIX index, which is a measure of volatility, soared to more than $32 while the fear and greed index dropped to the fear zone.

All these numbers signal that Litecoin did well in a difficult market. The same is true for other cryptocurrencies like Bitcoin and Ethereum. 

The main catalyst for Litecoin in September was Ethereum Merge, which transitioned it from a proof-of-work (PoW) to a proof-of-stake (PoS). Since this was the biggest event in the blockchain industry, most cryptocurrencies reacted to it. 

Looking forward, there will be no major cryptocurrency-focused event of the magnitude of the Merge in October. Therefore, investors will continue to focus on the broader market issues like inflation and monetary policy. 

This week, the US will publish the latest jobs numbers. Analysts expect the data to show that the country’s economy added more than 300k jobs in September. As such, with inflation at an elevated level, there is a likelihood that the Fed will continue hiking interest rates.

Litecoin price prediction

The daily chart shows that the LTC price has been in a consolidation phase in the past few days. It has remained between the important support and resistance levels at $46.3 and $67.35. The coin is still hovering at the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved to the neutral point at 50.

Therefore, there is a likelihood that Litecoin will remain in this tight range in October. A move above the resistance at $67 will mean that there are more buyers left while a drop below the support at $46 will mean that there are more sellers in the market.

How to buy Litecoin

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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Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

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The post Litecoin price prediction for October 2022 appeared first on CoinJournal.

The cryptocurrency market seems to have found its footing again, a signal of a potentially bullish October. One of the biggest pointers that a bull wave could be underway is the rising Bitcoin buying volumes. 

At the same time, institutional buyers are getting back into the market. Among those looking to make a big entry at current prices is Ark Invest, one of the most pro-crypto funds around. With this potential for gains, it makes sense to start looking into low-cost altcoins that could outperform the market if FOMO kicks in. Some of the ones with the most potential are as below.

XRP (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.

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Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

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XRP (XRP) has started the new month with good news, and it won’t be long before investors take note of it. The big news around XRP is the growing investor expectation that Ripple will win the case against the SEC. This excitement comes from an order by judge Torres that the SEC should the documents that were written by William Hinman, who was previously in charge of the corporation finance division.

The big deal about these documents is speculation by Ripple that Hinman may have written that Ethereum not being a security.  Ripple lawyers could use his writings to add weight to their claim that XRP is not a Ripple security. There is speculation that if Ripple wins on this front, XRP could end the year higher by 50 – 100%. If buying volumes keep rising as they are doing at the moment, XRP is without a doubt one of the top cryptocurrencies to watch in the coming weeks.

Cardano (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.

Buy ADA with eToro today Disclaimer

Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

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Cardano (ADA) is one of the cryptocurrencies that have big news coming up that could help propel it higher in the short term. The big news is an announcement by Charles Hoskinson that the Age of Voltaire is pretty close. The expectation is that this move will open up the ability for builders to create on Cardano, and will make Cardano a leader in the latest tech developments in blockchain, just as they did with their innovation in staking.

This is a big deal, and if the broader market picks momentum, it could see Cardano (ADA) emerge as one of the best-performing cryptocurrencies in the coming weeks. The odds are clearly in its favor.

Shiba Inu (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.

Buy SHIB with eToro today Disclaimer

Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

Buy SHIB with Capital.com today Disclaimer

Shiba Inu (SHIB) is one of those meme coins that tend to do well in bull markets. As such, if there is an upsurge in cryptocurrency prices in the short term, then Shiba Inu could be among the ones to watch. One of the key factors that could trigger speculation around Shiba Inu is whale activity. 

At the start of the month, a Shiba Inu whale moved millions of dollars worth of Shiba Inu to an exchange. This has triggered speculation that they could be planning to do a leveraged SHIB trade. This coupled with the ongoing Shiba Inu token burn is likely to keep drawing investors especially if the market keeps gaining traction especially now that marketwide volumes are on the rise.

The post Low-cost cryptocurrencies that rally soon appeared first on CoinJournal.