Crypto Analysis Archive - Seite 326 von 512 - Finanzmittel Info + Krypto + Geld + Gold

14. November 2022

Binance coin price analysis amid fresh pains in the crypto market

Binance (BNB/USD) sits above a support zone of $266. At the current valuation of $281, BNB has lost 30% since nearly topping $400 a few days ago. A contagion of risks has been responsible for this.

First, the collapse of FTX raised caution about the financial health of crypto exchanges. As a cryptocurrency affiliated with an exchange, BNB was not spared either. Secondly, although the US inflation rate came lower for October, it remains elevated. Further rate tightening is possible despite investors eyeing a softer stance by the Federal Reserve.

With growing risks, Binance is not taking chances. CEO Changpeng Zhao recently announced that the crypto exchange had raised its Secure Asset Fund for Users to $1 billion. The move reassures the market shaken by the collapse of FTX. On November 14, CZ announced the creation of an industry fund. The fund will bail out “strong” crypto firms facing a liquidity crisis.

Amid the growing concerns and developments, BNB bulls are defending $266. The level has become significant since BNB has yet to trade below it since a breakout in July. BNB has a real chance of recovering from this level if the bulls hold ground.

BNB defends $266 amid a weak momentum and bearish MACD crossover

Source – TradingView

Technically, we should consider BNB bearish. The momentum is weak, while the recent MACD crossover supports a bearish view.

However, since BNB settled at $266, the price has regained stability. Multiple inside bars can be seen at the key support, indicating indecision in the market.

Should you buy BNB now?

The outlook is mixed for BNB price at the support zone. Bulls are defending $266, but the technical indicators show a bearish market.

If BNB continues to maintain stability, we should watch for the formation of bullish bars at the key support. That could welcome a bullish momentum. Alternatively, a breakout of the inside bar pattern should also attract buyers to the token.

A bullish confirmation should take BNB back to the resistance at $360. We should, however, monitor the crypto sentiment to consider the level around $400 attainable.

Where to buy BNB

eToro

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The post Binance coin price analysis amid fresh pains in the crypto market appeared first on CoinJournal.

14. November 2022

Should you buy Litecoin as its hash rate rebounds?

Litecoin price remained in a consolidation phase on Monday as investors reflected on the happenings in the crypto industry. LTC was trading at $57.30, which was about 20.7% above the lowest level this year. This price was about 21% below the highest level this month. So, is it safe to buy Litecoin now?

Is LTC a good investment?

Litecoin, like other cryptocurrencies, has been in a strong bearish trend in the past few days as concerns about the sector continued. The biggest risk is the collapse of FTX, the second-biggest crypto exchange in the world after Binance.

As such, investors fear that a contagion risk could occur increase. Therefore, the number of crypto withdrawals from exchanges has continued rising in the past few days. At the same time, Bitcoin’s fear and greed slumped to the lowest level in months.

Historically, cryptocurrencies like Litecoin and Bitcoin tend to crash hard after a major seismic event like FTX’s crash. Most of them dropped like a rock after the collapse of Voyager Digital and Terra’s ecosystem in May this year. The only difference is the magnitude of FTX’s clash and the role it has in the economy.

Meanwhile, on-chain data shows that Litecoin’s hash rate has crawled back after falling sharply last week. It has risen to a high of 542 TH/s, which was higher than last Friday’s low of 507 TH/s.

A hash rate is defined as the measure of computational power on a blockchain network. It is determined by the number of guesses made per second. The hashrate helps to determine the security and mining difficulty of a blockchain’s network.

Litecoin’s hash rate is now slightly below its all-time high of about 575 TH/S. This could be a sign that the network has some activity.

Litecoin price forecast

The four-hour chart shows that the LTC price has been in a strong bearish trend in the past few days. It has moved slightly above the important support level at $55.75. The coin remains slightly below the 25-day moving averages. At the same time, the Stochastic Oscillator has moved above the neutral point.

Litecoin has also formed a hammer pattern, which is usually a bullish view. Therefore, the coin will likely continue rising as buyers target the key resistance level at $63. A drop below the support at $55.7 will invalidate the bullish view.

How to buy Litecoin

eToro

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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 Should you buy Litecoin as its hash rate rebounds? appeared first on CoinJournal.

11. November 2022

Litecoin eyes a bullish breakout. Why buyers should keep their fingers crossed

Litecoin (LTC/USD) is once again looking at a possible breakout above a key resistance zone at $64. The price surged strongly to this key level after initially testing a low of $47 two days ago. Bulls are now under test at this key level as bears also stand their ground.

It’s an 11-year birthday for Litecoin. Its developers celebrated the blockchain, which was forked out of Bitcoin to address the shortcomings of the latter. More than a decade later, Litecoin has remained resilient, although price dynamics have hurt it more often than not. Litecoin Foundation says the blockchain has processed more than 33 million transactions without any challenge so far.

As the digitalisation of money takes shape, LTC will surely have a core role to play. The team behind the blockchain says that in the last 11 months, over 45 million new LTC addresses have been created. The number is equal to about 28% of lifetime LTC addresses. Equally, Litecoin’s mining difficulty hit a new milestone at slightly below 18 million hashes. The difficulty implies that miners are competing intensively for mining rewards.

Buyers would really pray that LTC clears $64 amid the positive developments. Two possibilities are likely, from the price action.

LTC corrects slightly below the $64 resistance

Source – TradingView

Price action indicators show a mixed outlook for LTC. On the one hand, an uptick in price and recovery from an RSI reading of 39 suggests a potential bullish market.

On the contrary, LTC has slowed down since hitting the resistance at $64. A breakout is far from being confirmed, so we should still hold a bearish bias.

When should you buy Litecoin?

A break above the $64 resistance would make the LTC price attractive to buyers. The resistance is a key zone that has held LTC since June. Thus, a breakout could welcome a huge move for the cryptocurrency.

LTC could proceed lower if the breakout fails, with the next potential bottom lying at $50. Investors should keep watch of both scenarios before buying.

Where to buy LTC

eToro

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Skilling

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The post Litecoin eyes a bullish breakout. Why buyers should keep their fingers crossed appeared first on CoinJournal.

11. November 2022

Back to basics as Dogecoin retraces to 78.6% Fib level. Here is the potential price action

Dogecoin (DOGE/USD) trades at $0.085. Just a week ago, the cryptocurrency had tapped the $0.15 level. The losses underline the meme tag associated with Dogecoin. The cryptocurrency remains under the mercy of bears if the price fails to overcome a key level.

Dogecoin’s recent recovery has largely been pegged to Elon Musk’s acquisition of Twitter. Had you bought DOGE before October 27, when he finalised the acquisition, you would have tripled your investment. That is if you exited your position on August 31. Now, days after sealing the deal, the excitement has subsided, and DOGE may need a fresh price catalyst.

Musk has kept mum over whether DOGE would be accepted as payment for the social media giant. The billionaire had in the past supported DOGE and hinted at its use in Twitter payments. So the probability remains, but the lack of open announcements has been slowing DOGE. Consequently, the token has lost the mojo it had started late last month. Consequently, we could see the price remain subdued even longer if positive developments fail to come by.

DOGE struggles to clear $0.09 after attempting recovery at 78.6% Fib. level

Source – TradingView

Turning to the technical side, Dogecoin has found little bullish footing since sliding to $0.07. The level is slightly below the 78.6% Fibonacci retracement zone. However, recovery has been muted by key resistance at $0.09, and DOGE is taking another dip.

Should you buy DOGE?

Dogecoin is a very surprising cryptocurrency. The smallest of news can make the buyers go crazy. Taking advantage of such moves can generate huge returns, irrespective of what the technical indicators show.

Nonetheless, the current sentiment is not only bad for DOGE but all cryptocurrencies. DOGE also suffers from the lack of positive mentions, such as the speculated use in Twitter payment. With this in mind, a bear market could be inevitable.

A technical outlook shows that $0.09 is a key zone for DOGE to break to go higher. To a technical reader, the meme cryptocurrency is not an attractive buy.

Where to buy DOGE

eToro

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The post Back to basics as Dogecoin retraces to 78.6% Fib level. Here is the potential price action appeared first on CoinJournal.

11. November 2022

Bitcoin Cash invalidates a potential bullish reversal zone. Should buyers be optimistic?

If you have been eyeing Bitcoin Cash at $110, you may have to wait a little longer. A contagion of risks brewing in the market forced a sharp selloff, pushing Bitcoin Cash to below $110. The level was crucial support, with the token forming multiple bottoms. BCH tested a lower level at $87 but has since recovered to above $100. Should you be optimistic?

Cryptocurrencies are known for sudden moves in the market. Just as the slip below $110 happened unexpectedly for BCH, a recovery above the level can too. Buyers should be optimistic and be ready to buy once that happens. But that should be taken with a grain of salt.

Crypto winter is far from over, as underlined by this week’s selloff. The macro concerns have been the main highlight recently. So far, investors have developed a thick skin against the possible macro forces, including tighter economies. For that reason, most cryptocurrencies have been consolidating – an example of BCH at $110. However, markets seem to have forgotten a key factor – the liquidity state of crypto firms.

The collapse of FTX has brought a new perspective to crypto markets – the financial health of crypto firms and exchanges. As recession bells continue to ring, how many will survive to see a bull market coming? As it turns out, this fear will linger, and lasting recoveries are bound to stay muted. So, should you snap BCH or not?

BCH regains – heading back to above $110?

Source – TradingView

A sharp sell-off made BCH invalidate bullish reversal signs already forming at $110. The MACD indicator remains in the bearish zone, although the weak momentum has slightly improved. $110 is the level to watch.

Should you buy BCH?

If you are the “buy now, sell tomorrow,” type, you are better off staying away from BCH for now. With weak momentum, the token will hardly generate returns.

However, long-term buyers should consider BCH on their waitlist. BCH’s safety from a potential further slump will be confirmed if the token recovers above $110.

Where to buy BCH

eToro

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Skilling

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The post Bitcoin Cash invalidates a potential bullish reversal zone. Should buyers be optimistic? appeared first on CoinJournal.