Crypto Analysis Archive - Seite 366 von 512 - Finanzmittel Info + Krypto + Geld + Gold

20. September 2022

Should You Buy the Ethereum Dip?

Ethereum price has come under intense pressure in 2022 as investors focus on multiple factors. It has fallen by more than 56% this year and by 68% from the highest level in 2021. Its market cap has crashed from an all-time high of over $600 billion to about $190 billion. So, is it safe to buy the ETH dip?

Why has Ethereum crashed?

There are several reasons why Ethereum price has dropped sharply this year. First, macro conditions have changed around the world, leading to fears of a steep recession. For example, inflation has surged to a multi-decade high in most countries while a war in Ukraine is ongoing. Historically, risky assets tend to underperform in a period of shifting macro events.

Second, the Federal Reserve and other key central banks like the European Central Bank (ECB) and the Bank of England (BoE) have all shifted their tones and executed severe rate hikes. In the US, the Fed has delivered several rate hikes and pushed the headline rate up by 225 basis points. It has also hinted that it will continue hiking and implementing quantitative tightening (QT) in the coming months.

Third, internally, Ethereum and other smart contract platforms have been under pressure as key industries struggle. For example, Ethereum’s total value locked in DeFi has dropped from over $75 billion to just $32 billion. The total volume of non-fungible tokens (NFT) traded in Ethereum has also dropped.

There are other reasons why Ethereum price has continued falling. For example, the lack of fiscal stimulus and the collapse of Terra, Celsius, and Voyager Digital had an impact on cryptocurrency prices. So, is it safe to buy Ethereum dip?

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Ethereum price prediction

The daily chart shows that ETH price crashed to a low of $885 in June of this year. This was a remarkable crash considering that the coin was flirting with $5,000 a few months ago. Now, the coin has staged a brief recovery and moved to the 50-day and 100-day moving averages.

At the same time, the Awesome Oscillator has moved slightly above the neutral point. The price is slightly below the 23.6% Fibonacci Retracement level.

Therefore, at this stage, it is too early to recommend buying the dip. Instead, traders should wait until Ethereum moves above the two moving averages and create a bullish trend. Besides, there is a likelihood that the recent rebound is part of a bear market rally.

The post Should You Buy the Ethereum Dip? appeared first on CoinJournal.

20. September 2022

LUNC jumps by 13% after Terra Classic introduces a new feature

The cryptocurrency market is recovering from last week’s slump, and Tera Classic’s LUNC is leading the way.

LUNC, the native coin of the Terra Classic ecosystem, is the best performer amongst the top 100 cryptocurrencies in the last 24 hours.

The coin has added more than 13% to its value today, outperforming the other major cryptocurrencies in the market.

LUNC’s rally comes as the broader cryptocurrency market is recovering from its recent slump. The broader market has added nearly 5% to its value today, with the total market cap closing in on the $950 billion mark.

Bitcoin is trading above $19k once again after dropping below that level earlier this week. BTC is up by more than 4% in the last 24 hours.

Ether failed to rally following the Merge event that was completed a few hours ago. After dropping below $1,300 yesterday, ETH is trading at $1,357 at press time, up by more than 4% today.

LUNC’s positive performance comes roughly 24 hours after the Terra Classic team introduced a new feature.

1/ New feature incoming, #LUNAtics!👇

Now you may get the best price when performing swaps on Terra Station, powered by @tfm_com’s DEX Aggregator 🚀

— Terra 🌍 Powered by LUNA 🌕 (@terra_money) September 19, 2022

The new feature allows Terra Classic users to get the best price when performing swaps on Terra Station.

Key levels to watch

The LUNC/USDT 4-hour chart remains bearish despite LUNC adding more than 13% to its value on Tuesday.

LUNC/USDT Chart By TradingView

The MACD line is below the neutral zone. However, it has been moving upwards over the last few hours and could enter the positive region if the current market momentum is maintained.

The 14-day relative strength index of 46 shows that LUNC is no longer in the oversold region.

At press time, LUNC is trading at $0.00029874 per coin. If the rally continues, LUNC could surge past the $0.00035972 resistance level before the end of the day.

However, LUNC would need to embark on a bullish run to cross the $0.00044114 resistance level in the near term.

Where to buy now

As LUNC is such a new asset, it’s yet to be listed on major exchanges. You can still purchase LUNC using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy LUNC right now, follow these steps:

1. Buy ETH on a regulated exchange or broker, like eToro ›

We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.

2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask

You’ll need to create your wallet, grab your address, and send your coins there.

3. Connect your wallet to the 1Inch DEX

Head to 1Inch, and ‚connect‘ your wallet to it.

4. You can now swap your ETH for LUNC

Now that you’re connected, you’ll be able to swap for 100s of coins including LUNC.

The post LUNC jumps by 13% after Terra Classic introduces a new feature appeared first on CoinJournal.

19. September 2022

Cardano falls back to the bottom of the consolidation zone. What next?

ADA has lost 7% in the past day amid a waning momentum
Cardano’s Vasil Upgrade is expected to be a game-changer in the network
Cryptocurrencies are currently facing a sell-off ahead of the Fed’s meeting

Cardano ADA/USD dropped 7% in the past day to consolidate weekly losses at 14%. The token is currently trading at $0.4398. Despite being a major token, Cardano struggles to find unique utility over the top cryptos.

Pressure continues to mount on the scalability aspects of the layer-1 blockchain. Vasil upgrade, set for September 22, is expected to change that. The network’s founder, Charles Hoskinson, said the effect of the fork could be felt as soon as September 27.

Vasil upgrade has been hampered by several delays. The setbacks have been due to bugs and technical issues. Nonetheless, the fork remains the most ambitious upgrade in Cardano. Its benefits include scalability, increased throughput, efficiency, and a reduction in block transmission latency.

On a broader outlook, Cardano’s price is receiving a hit from the macro factors. Investors expect the US Federal Reserve to hike interest rates when it convenes this week. A high-interest rate is projected to shift investments away from riskier assets like cryptocurrencies. The sentiment has pushed major cryptocurrencies, including bitcoin, into the red territory. From the technical chart below, ADA is at the bottom of a consolidation.

ADA trades at the bottom of a horizontal tunnel

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Source: TradingView

The daily chart above shows that ADA has retested the $0.43 resistance level. Currently, momentum is looking largely bearish. The MACD is showing bearish histograms as more sellers enter the market. The RSI is at 41, reducing the chances of a possible trend reversal in the short term.

Concluding thoughts

For investors looking to grow their portfolio in a bear market, Cardano offers minimal chances. The token looks exceedingly bearish and could easily lose the current support. For the upcoming Vasil Upgrade, ADA has priced in. If the current support holds, ADA faces immediate resistance at $0.49.

The post Cardano falls back to the bottom of the consolidation zone. What next? appeared first on CoinJournal.

19. September 2022

Why XRP remains attractive despite falling back

Ripple and SEC have called for a summary judgment regarding the classification of XRP.
Ripple asserts that SEC did not provide sufficient evidence.
XRP has fallen back in the consolidation zone but remains attractive.

There is finally some light at the end of the tunnel for Ripple’s XRP/USD case with the US SEC. In a filing on September 17, both sides asked for a summary judgment of the long-standing battle. Normally, summary judgments are called by parties when they believe they have sufficient evidence. Thus, the case is called without the need to go to the final trial.

Just as it has been in the past, Ripple is confident of winning the case. They argue that the SEC did not present sufficient evidence to support its claim that XRP should be a security. A case ruling in favor of Ripple would be a bullish trigger for XRP. Caution must, however, be exercised since the outcome remains in question.

XRP moves above moving averages amid market correction

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XRP has been in consolidation mode since June. The price has barely surpassed $0.38. The extended consolidation indicates bear exhaustion since XRP was bearish previously. It also indicates that buyers are cautious in scooping the token at a low level.

Source – TradingView

A technical outlook shows that XRP has moved above the 20-day moving average. It is also trading at the 50-day MA. The MACD indicator is bullish. Previously, XRP attempted to break above the $0.38 zone before embarking on a correction. It suggests that buyers are looking to take XRP higher but lack the volumes to do so.

Concluding thoughts

Although the Ripple versus SEC case outcome is unknown, investors are looking to buy XRP. The extended correction is an indication of a suppressed bear market. A breakout above $0.38 is on the card if there are indications of a Ripple win.

The post Why XRP remains attractive despite falling back appeared first on CoinJournal.

19. September 2022

Bitcoin slips below $19k ahead of another crucial FOMC meeting this week

The cryptocurrency market has continued its poor start to the week, with Bitcoin dropping below $19k ahead of another FOMC meeting.

The cryptocurrency market performed poorly last week, losing its $1 trillion market cap peg. The poor performance has now stretched into the new week, with the broader market losing more than 5% of its value in the last 24 hours.

As a result of the poor performance, the total cryptocurrency market cap could drop below the $900 billion mark for the first time this month.

Bitcoin, the world’s leading cryptocurrency, has underperformed in recent weeks. At press time, Bitcoin is trading at $18,954, down by more than 4% in the last 24 hours.

The leading cryptocurrency is underperforming ahead of another crucial FOMC meeting on September 20th and 21st.

The market is expecting another 75 basis points increase in interest rates, a move that could see Bitcoin, the crypto market, and the broader financial market perform poorly.

So far this year, the FOMC raised federal fund rates by 25 bps in March, followed by a 50 bps in May and another 75 bps hike in the June and July meetings each. Thus, taking the present policy rate to 2.25-2.5%.

Key levels to watch

The BTC/USD 4-hour chart is negative as Bitcoin has been underperforming over the last few hours. The MACD line has stayed within the negative zone over the past week and remains there. Hence, indicating that the bears are in control.