Kategorie: Crypto Analysis

• Ethereum Classic saw a 280% rise in hash rate after Ethereum Merge

• The cryptocurrency surged after the Ethereum Merge but has since retraced

• ETC lacks a directional bias as price slides

Ethereum finally completed a successful move from a Proof-of-Work blockchain to Proof-of-Stake. Immediately after the shift, tokens of PoW platforms such as Ethereum Classic ETC/USD rose. The cryptocurrency has since retreated with losses of 5.28% in the last 24 hours. Does that indicate a lack of sustainability in post-merge gains?

Ethereum Classic was one of the platforms expected to attract PoW miners after the Merge. On Thursday, immediately after the Merge, the hash rate on the protocol rose to 183 terahashes per second. That suggests a 280% increase in the crypto mining productivity in just 24 hours. It should, however, be noted that Ethereum Classic’s hashrate has increased by 500% in 30 days. Miners had already been positioning themselves for the post-merge situation. Hash rate on other PoW blockchains, such as Ergo blockchain and Ravencoin, has also surged.

There are possible scenarios to explain the depleted gains in ETC after the Ethereum Merge. First, ETC is trading close to a 5-month high, despite most tokens remaining subdued. Although we can’t discount further post-Merge gains, the price may have already factored in the developments.

A more profound factor preventing ETC’s post-Merge growth is the crypto sentiment. Across the board, cryptocurrencies are in the red following a more than-anticipated inflation. Consequently, ETC’s potential gains should be examined within the broader crypto sector. 

ETC price movements and prediction post-Merge

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

Buy ETC with eToro today Disclaimer

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.

Buy ETC with Skilling today Disclaimer

Source – TradingView

On the technical front, Ethereum Classic lacks a directional movement. The price has clashed below the moving averages but trades at a $34 support level. ETC must overcome a further drop below the support to consider a bullish bias. 

Summary

Ethereum Classic has witnessed a rise in hash rate after Ethereum Merge. The price is yet to reflect the mining output and lacks a directional bias.

The post How sustainable is Ethereum Classic after Ethereum Merge? appeared first on CoinJournal.

• Cosmos token has maintained an uptrend since June.

• There are speculations for a greater utility of ATOM with Cosmos 2.0.

• ATOM is a buy but expecting a retracement.

Cosmos ATOM/USD has been one of the strongest cryptocurrencies lately. Since mid-June, the cryptocurrency has maintained a system of higher highs and higher lows. ATOM is also yet to break below the 50-day moving average since July. What is the possible reason for the sustained surge?

Speculations around Cosmos 2.0 could be attracting ATOM buyers. Cosmos 2.0 is expected to enhance the interoperability, functionality, and overall Cosmos infrastructure. There is no specific date for it. However, the discussions are expected to rise during the Cosmoverse 2022 event kicking up on September 28. The conference will also see more side events, including the Osmos Dex and Loop Finance.

ATOM price reaction and prediction after Doji signal

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

Buy ATOM with eToro today Disclaimer

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.

Buy ATOM with Skilling today Disclaimer

A Doji is an important price signal for a technical reader. It is characterized by a candlestick showing an equal or almost the same opening and closing price. The candlestick conveys indecision between buyers and sellers. 

After retracing from a high of $17, ATOM formed a Doji signal at the minor support of $13. It signified a lack of directional bias. Since then, buyers have managed to outwit the sellers as the price shot up.

Source – TradingView

From the technical outlook, a Doji signal at the minor support took ATOM to $15. The price is experiencing some resistance. The MACD indicator shows a waning momentum in price.

Concluding thoughts

ATOM remains in a strong bullish momentum. A Doji signal at the support followed by a price surge confirmed a bullish momentum. The cryptocurrency is facing resistance, and a potential retracement could occur. Investors should consider buying on a retracement potentially at or close to $13.

The post Cosmos token forms a Doji signal after a retracement. What does it mean? appeared first on CoinJournal.

• Chainlink has recovered the $7.4 support as the price continues to recover.

• Anticipated Chainlink staking could boost the price.

• LINK aims for $9.4 if the current momentum remains in place.

After remaining largely bearish in the past seven days, Chainlink’s LINK/USD is turning bullish. More-than-expected inflation on Tuesday pushed the token down to $7.03. The level was below key support of $7.4, eliciting fears that LINK was heading to its previous lows.

Bulls seem to have now arrested the decline in Chainlink. The token trades at around $7.6, above the key support with momentum building up. As of press time, the price of LINK was up 2.16% in the last 24 hours. The price defies the overall crypto sentiment since most tokens had dipped in the same period.

Chainlink has witnessed limited developments lately. However, Chainlink Staking, expected later in the year, has proved to be a price driver for the native token. There are also plans to grow the oracle network of Chainlink and improve security via a new token-staking ecosystem. 

Chainlink forms a bullish pin bar at support

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

Buy LINK 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 LINK with Capital.com today Disclaimer

Source – TradingView

Technically, LINK has initiated a recovery at the $7.4 support. The level coincides with a short-term ascending trendline and support zone. The token has formed a bullish pin bar at the support, informing an upside bias for the cryptocurrency. 

The MACD indicator remains in the bullish zone. LINK is also pushing above the 50-day moving average. The token is a buy if the $7.4 continues to hold. The next level is $8.2 and, potentially, $9.4.

Summary

Chainlink token has a bullish bias based on technical indicators. The pin bar suggests that bulls rejected a decline below $7.4. If the price sustains the momentum, the next level is $8.4.

The post Chainlink ignites bullish push after the latest slide appeared first on CoinJournal.

With the growing number of highly efficient L-1 platforms, there is no doubt that Web 3.0 is about to take off. We could be at the beginning stages of the era of community-driven organizations and systems that rival or even outcompete big tech corporations that gained a lot of power thanks to Web 2.0.

Given how much potential blockchain holds going into the future, it makes sense to start investing in Web 3.0 cryptocurrencies that could be at the forefront of changing the world as we know it today.

If you want to participate in the next web revolution, here are the top three undervalued cryptocurrencies to buy now for potentially high gains.

Filecoin (FIL)

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

Buy FIL 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 FIL with Capital.com today Disclaimer

Filecoin (FIL) is highly undervalued, having dropped from over $50 to its current price of $5. Despite this drop, the adoption of Filecoin as a decentralized data storage network continues to grow. This indicates that this network’s intrinsic value is on a growth trajectory. As this adoption increases, the value of FIL tokens will also grow since it is the native token of the Filecoin ecosystem. This makes Filecoin a high-potential cryptocurrency to keep an eye on both in the short term and even better in the long run once cryptocurrency adoption transforms the internet as we know it. Who knows, this could one day overtake Amazon Web Services.

Chainlink (LINK)

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

Buy LINK 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 LINK with Capital.com today Disclaimer

As Web 3.0 takes root in society, one of the markets that will change the most is the data oracles market. That’s because decentralized and trustless networks need decentralized data feeds, and Chainlink (LINK) is the most significant player in this market.

While it only started a few years ago, Chainlink has grown to become the largest decentralized data network, with nearly 70% of the market. Essentially, it has become the de-facto data oracle for crypto networks. With blockchain still in its infancy and expected to be at the center of all industries in coming years, Chainlink is a particularly good Web 3.0 cryptocurrency to consider today.

In the short term, Chainlink is trading at a massive discount from its 2021 highs. As such, if by any chance the crypto market makes a rebound, LINK could be rewarding to those who buy at current prices.

Polkadot (DOT)

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

Buy DOT 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 DOT with Capital.com today Disclaimer

As Web 3.0 gains traction, scalability will become even more critical. Without a clear path to infinite scaling, decentralized networks could find it hard to compete with centralized systems. Polkadot (DOT) is one of the Web 3.0 that is leading the way in offering viable scaling solutions.

Polkadot achieves this through parachains to ensure that the network can handle as many transactions as possible without putting a strain on the network and raising costs. Polkadot is trading at a massive discount from its most recent all-time highs despite its capabilities. Its technical capabilities and current low price make DOT an undervalued Web 3.0 cryptocurrency worthy of keeping an eye on today.

The post Massively undervalued Web 3.0 cryptocurrencies to buy now appeared first on CoinJournal.

Prosper price has been in a strong bullish trend in the past few weeks as demand for the coin jumps. It rose to a high of $1.8615, which was the highest level since December last year. It has recovered by more than 1,436% from the lowest level this year, giving it a market cap of over $7.9 million.

What is Prosper and why is it rising?

The betting and prediction market is one of the biggest industries globally. It is also one of the most regulated sectors in most countries. Therefore, it has been ripe for disruption, especially using the blockchain industry.

Prosper is one of the fast-growing companies that is aiming to disrupt the sector. It describes itself as the first prediction market with on-chain liquidity aggregation. The platform using the PROS token to facilitate transactions in the ecosystem. After making a transaction, a person can stake an equal amount of PROS token to insure the deal.

There are two main reasons why Prosper price has been in a strong bullish trend in the past few days. First, the coin has jumped after it was listed in Binance, the biggest exchange in the world. The company made it possible to trade the PROS/BUSD pair.

PROS price has also rallied as investors cheer the recent news of the upcoming upgrade. The upgrade will introduce several features like Prosper DAO, Prosper Votes, crypt productions, social predictions. Prosper DAO will be a package that will provide users with the ability to have community voting with their tokens and NFTs. Therefore, investors believe that the coin will continue soaring in the coming months.

Prosper price prediction

The daily chart shows that the PROS price has been in a strong bullish trend in the past few weeks. Along the way, the coin has surged above the important resistance level at $0.9490, which was the highest point on April 2nd. 

The coin has also surged above all moving averages, which is usually a bullish sign. Also, it moved slightly above the neckline of the inverted head and shoulders pattern. Therefore, there is a likelihood that the coin will keep rising as sellers target the next key resistance level at $3. 

Where to buy Prosper.

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 PROS with Binance today

The post Prosper price prediction: Here’s why PROS is surging appeared first on CoinJournal.