Kategorie: Crypto Analysis

Cryptocurrency prices remained under intense pressure as geopolitical and central bank risks continued. Bitcoin dropped below $19,000 once again while Ethereum slipped below $1,300. As a result, the total market cap of all cryptocurrencies slipped to $907 billion. This decline happened as the crisis in the UK and Ukraine continued while hopes of a more hawkish Federal Reserve continued.

So, is it safe to buy Cardano, EOS, and Bitcoin Cash during the weekend?

Cardano price prediction

ADA price has been in a steep sell-off in the past few months. After peaking at $3 in 2021, the coin crashed to $0.3869. As a result, its total market cap has plunged from an all-time high of more than $90 billion to about $12 billion. 

Cardano’s underperformance is mostly because the hype it had in 2021 has died away. At the time, most analysts were hoping that it will become the most viable alternative to Ethereum. Today, Cardano’s ecosystem is significantly tiny than most large-cap platforms.

On the daily chart, we see that the coin crashed below the lower side of the descending triangle pattern that is shown in black. It has continued moving below the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has crashed below the oversold level.

Therefore, Cardano price will likely continue falling as sellers target the key support level at $0.035, which is significantly lower than the current level.

EOS price prediction

EOS price has plunged by more than 60% this year and is significantly below its all-time high. Its recent recovery after the Antelope launch has faded. At the same time, its ecosystem has been overtaken by other newer projects like Solana and Avalanche.

The daily chart shows that EOS formed a double-top pattern at $1.90. In price action analysis, this pattern is usually a bearish sign. The coin has managed to move below the neckline at $1.3410, which was the lowest point on September 1st. Meanwhile, the 25-day and 50-day moving averages have made a bearish crossover.

Therefore, EOS will likely continue falling as sellers target the next key support at $0.825, which was the lowest level on June 18.

Bitcoin Cash price prediction

Bitcoin Cash price continued falling as a sea of red engulfed the cryptocurrency market. BCH tends to have a close correlation with BTC. On the daily chart, the coin has formed a falling wedge pattern, which is usually a bullish sign. The downward trend is being supported by the 25-day and 50-day moving averages and the Relative Strength Index.

Therefore, because of the falling wedge pattern, there is a likelihood that Bitcoin Cash will have a bullish breakout in the coming days. If this happens, the next key resistance level to watch will be at $120, which is the upper side of the wedge pattern. On the flip side, a drop below the support at $95 will invalidate the bullish view.

How to buy Bitcoin Cash

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 Crypto price analysis: Cardano (ADA), EOS and Bitcoin Cash appeared first on CoinJournal.

Zilliqa price has been in a strong bearish trend in the past few months as demand for the coin continues. ZIL crashed to a low of $0.028, which was the lowest level since November 2020. It has crashed by more than 87% from its highest level this year, giving it a market cap of $385 million.

ZIL crash continues

Zilliqa is an innovative blockchain project that introduced the important concept of sharding, which has been embraced by leading networks like Ethereum, Elrond, and Near Protocol. Sharding boosts a network’s throughput by breaking blocks, a network is able to cut improve the overall throughput. 

Zilliqa is a layer-1 network that has been used to build applications in all industries, including finance and NFTs. Some of the top applications created in Zilliqa are Xfers, LunarCrush, XCad Network, and Human Protocol among others.

Zilliqa also hopes to become a leading player in the gaming industry. Earlier this year, the developers launched Metapolis, a metaverse platform where people can meet virtually and play games. They are also building Web3War, a first-person shooter game.

Like all cryptocurrencies, ZIL price has not had a good year for several reasons. First, interest rates have surged this year as central banks battle to contain soaring inflation. In the US, rates have risen by 300 basis points and are expected to rise by another 125 bps this year. As a result, investors have dumped Zilliqa and other cryptocurrencies this year

Zilliqa price has also dropped because of low activity in its ecosystem. Data published in its website shows that the total value locked (TVL) in its DeFi ecosystem has dropped sharply this year. The same is true for other areas in its ecosystem.

The most recent crypto news on Zilliqa was the appointment of Mark Hemsley as the Chairman of the Board. He was the President of Cboe Europe and Executive President of Cboe Global Markets. Another important news is that Zilliqa plans to launch Zilliqa 2.0, which will be a proof-of-stake network.

Zilliqa price prediction

So, should you buy Zilliqa? The daily chart shows that the ZIL price has been in a strong bearish trend in the past few months. It was trading at $0.029 on Friday, which was an important support level on June 18. The coin crashed below all moving averages while the Relative Strength Index (RSI) moved below the neutral point. 

Therefore, Zilliqa price will likely continue falling as sellers target the key support at $0.025. A move above the resistance point at $0.031 will invalidate the bearish view.

How to buy Zilliqa

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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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 Ziliqa price prediction: Will this sleeping giant wake up? appeared first on CoinJournal.

Binance (BNB/USD) buyers continue to defend $266. The level has become a crucial zone, as the cryptocurrency has formed multiple bottoms. That gives buyers a real chance to thwart bear interest and move the cryptocurrency higher.

The stability of BNB comes when crypto exchange-related tokens are going south. As of press time, the FTX token trades at merely $22, nearly the lowest price of $21 in the year. Similarly, the Cypto.com token is trading near its yearly lows. BNB trades at $272, up from its yearly lows of $184, cementing the status as a stable exchange-linked coin.

Of course, Binance ranks as the largest crypto exchange, and it is easy to see why. In September, the crypto exchange saw increased trading volumes despite cryptocurrency prices falling sharply. The rise in volumes followed the exchanges’ move to remove trading fees on popular crypto pairs. 

With the stability of Binance, bulls have been relentless as the token hit $266. A technical outlook shows that $300 remains a realistic target if the bear market does not worsen further.

BNB holds $266 support intact amid a bear market

Source – TradingView

Technically, BNB remains stable at or slightly above $266 support. However, the RSI reading is below the midpoint suggesting that bears have the upper hand. Should sentiment remain, bulls could push the price back to the $300 resistance.

On the flip side, a further bear market could allow bears to push the price lower to $244.

Concluding thoughts

On a balance of probabilities, a bull case is stronger for BNB based on the stability of the price at support. Bears are also active, giving a potential consolidation scenario for BNB at or around $266. BNB buyers can take a chance at the current level but monitor price action and sentiment since a lower price is still possible.

Where to buy BNB

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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The post Binance BNB steady above $266 – A quick technical outlook appeared first on CoinJournal.

Uniswap (UNI/USD) forays into Web3 seem to be hitting the right buttons. A week since CoinJournal reported a $165 million funding for DeFi, the native token has been bullish.

CoinMarketCap shows that the Uniswap token has gained more than 11% in the past week. It is down by an intraday of 2% after a slight market correction. The gains are the second highest among cryptocurrencies in the top twenty. UNI could remain in a bullish market amid building momentum and reawakened interest.

Uniswap is not the only blockchain to make inroads into the nascent DeFi sector. However, the latest funding, led by Polychain Capital, shed a message that it wasn’t messing around. The $165 million deal is one of the largest in the DeFi Space. It also occurs when cryptocurrencies are under intense pressure. Crypto analysts have lauded the move saying it is proof of the growing interest in the DeFi domain by investors. 

Uniswaps Labs’ founder has described the funding as a validation for DeFi projects. He says he sees immense value in the sector amid the bear market. The investment raises optimism about crypto infrastructure amid the collapse of firms like Voyager.

Binance’s latest move has also given validation for Uniswap. On October 18, the crypto exchange delegated 13.2 million tokens of Uniswap. That allows Binance to become the second-largest on Uniswap DAO by voting power. Binance’s move adds trust in Uniswap as a protocol expected to grow and return massively to investors.

UNI initiates a bullish MACD crossover as price surges

Source – TradingView

A bullish MACD crossover on the daily chart is validation for bulls on Uniswap. The technical outlook is convincing, considering that the cryptocurrency has overcome a drop below $5.6. The MACD indicator also shows that momentum is starting to build for UNI.

What next for the Uniswap token?

Although UNI faces some resistance at $6.8, we remain optimistic that the cryptocurrency could go higher. Our area of interest lies at $8.38 and potentially higher at $9.2. Beyond the target price will depend on the prevailing crypto sentiment.

Where to buy UNI

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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The post Uniswap bullish pressure remains. Here is the key target for buyers appeared first on CoinJournal.

Polkadot price has been in a strong sell-off in the past few months amid a prolonged cryptocurrency sell-off. DOT plunged to a low of $6.1, which is slightly above this week’s low of $5.69. It has surged by more than 88% from its highest level in 2021. As a result, the total market cap has dropped to about $6.9 billion.

What drove the Polkadot price lower?

Polkadot is a unique blockchain project that was created by Gavin Wood, a computer programmer who was a co-founder of Ethereum. 

It is a unique one compared to other projects like Solana, Ethereum, and Cardano. It focuses on parachains, which are sovereign applications that are supposed to work with each other.

The core of the Polkadot network is known as the Relay Chain. It is described as the nucleus of the network and is responsible for securing, governing, and connecting the parachains. According to how it is developed, the Relay Chain can support between 100 and 250 parachains.

Recently, however, a closer look at the parachains show that they have been having a challenging period. The most troubled one was Acala, one of the biggest challenges in the world. 

Earlier this year, Acala USD (aUSD), which powers the network lost its peg. It is now trading at $0.7, which is much lower than where it should be at $1. As a result, Acala Network’s total value locked (TVL) has crashed to $47 million from its all-time high of $113 million.

Other parachains like MoonBeam, MoonRiver, and Karura have all stumbled. For example, Karura’s TVL has crashed to $14.6 million while MoonRiver has dropped to $110 million.

However, there are some emerging Polkadot platforms. For example, Phala Network coin has jumped by more than 200% in the past 7 days. Others like Energy Web Token (EWT), and Ankr have done well recently.

Polkadot technical analysis prediction

The daily chart shows that the DOT price has been in a strong bearish trend in the past few months. It dropped below the important support level at $10.33, which was the lowest level on July 2021. The coin has moved below all moving averages while the Relative Strength Index (RSI) has moved below the neutral level of 50.

DOT is sitting at the lowest level this year. Therefore, the outlook for the coin is neutral. A drop below the support at $5.70 will signal that bears have prevailed and will see it continue falling. A move above the resistance level at $7 will signal that bulls have returned, which will see it rise to $8.

How to buy Polkadot?

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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The post Polkadot price prediction: should you buy the DOT dip? appeared first on CoinJournal.