Kategorie: Crypto Analysis

• Shiba Inu token has risen above a key resistance

• Price has been surging in the past week

• Shiba Inu team teased the Metaverse WAGMI Temple last weekend

Shiba Inu SHIB/USD is witnessing increased buying pressure. As of press time, the trading volume of the meme token was up 102% in the last 24 hours. That’s despite the price cooling by 4% after the latest gains. Bulls could be taking a break after SHIB breached the $0.0000125 resistance.

Once again, welcome to the Shiba Inu metaverse – the project that is anticipated to take SHIB to the moon. On September 3, Shiba Inu teased fans with the Metaverse WAGMI Temple, a mock of its virtual reality world. The “zen-like” universe comes with natural beauty and sensations. It also allows spiritual connections to the outer world, reads the Shiba Inu blog.

There is a lot of enthusiasm that Shiba Inu’s metaverse will be a true evolution. It marks the beginning of its steps to get rid of the meme tag by having real utilities of the native token. The WAGMI temple illustration reignited the hopes of the metaverse dream. 

Shiba Inu price and prediction

It is early to ascertain that the virtual reality illustration boosted SHIB’s price. However, we know how much of an impact slight news can impact SHIB price. Technical points already show a breakout has occurred.

Source – TradingView

A technical outlook of SHIB shows a breakout has occurred at the key resistance. The token trades at $0.000013, slightly above the breakout zone. The price has also crossed above the 20-day and 50-day MA. The MACD indicator is also turning bullish. What next?

Final thoughts

A break above $0.0000125 builds a bull case for SHIB. However, a breakout has been followed by the formation of tailed bars. It illustrates bull exhaustion. Likely price behavior is consolidation. Watch for bullish signals.

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The post Shiba Inu clears $0.0000125 resistance but is the token a buy? appeared first on CoinJournal.

• Ripple case with SEC facts expected to trickle in on September 19

• The case will have wide impacts on XRP and the broader crypto

• XRP is recovering but remains in consolidation mode

The Ripple v. SEC case could get an interesting twist on September 19. It is the day that the parties submit open redacted briefs that will support the summary judgment of the case. Afterward and before the end of the year, lawyers from both sides will discuss. The negotiations will culminate in refining the briefs for case determination. Will this mark the end of the long-standing conflict between the regulator and Ripple?

Pro-XRP activist and lawyer Jeremy Hogan is excited about the new date, which is slightly a week away. In a tweet on Friday, Hogan hinted that the date marks “the endgame.” In the tweet, he did note that it is the day the public will know what each party holds.

There is an interesting fact why any development between SEC and Ripple is crucial for now. For a long time, investors have waited for the case’s conclusion. Ripple has made a majority of small wins. That has led to speculations it will outwit the regulator in defending that XRP cannot be classified as a security. XRP’s price has been tied to the projected ruling. The ruling will have wider ramifications on the broader crypto sector.

XRP price outlook and prediction

XRP has surged by 4.27% in the last 24 hours. That averages the gains by other major cryptos. It illustrates that the September 19 event is yet to influence the price. 

Source – TradingView

A technical outlook shows XRP is still trapped in the consolidation channel. The token is recovering from the bottom of the channel. The RSI reading of 52 suggests no oversold or overbought conditions.

Concluding thoughts

September 19 is a key development to watch if trading XRP. It will offer some clues about future case determination and XRP price. The cryptocurrency will be best bought on a breakout at $0.37.

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The post Ripple’s SEC case “endgame” speculated after major date, but how is XRP behaving? appeared first on CoinJournal.

• BNB has forced a breakout at $278

• BNB Chain announced the zkBNB testnet on Wednesday

• The cryptocurrency is a buy with a potential surge to $326

Bullish breakouts are important price action cues. They suggest an increase in buying, forcing the price to pierce through supply zones. That is exactly what is happening to the Binance coin BNB/USD. 

BNB trades at $295 as of press time. It becomes interesting when we look at the trading volumes, which show a jump of 18.49% in 24 hours. The price had gained by 6.34%. This comes barely two days after BNB Chain announced a major breakthrough in its scaling solution.

On Wednesday, Binance said it was addressing its scaling issues through the zkBNB testnet. The testnet is expected to support 100 million addresses. The transactions per second are expected to be 10,000 on the testnet. Since the launch, BNB has gathered momentum and breached a key level.

BNB inside bar breakout is underway as moving averages join support

Source – TradingView

On the daily chart, a breakout candlestick from an inside bar can be seen towering above the $278 support. Following the breakout, the 20-day moving average has joined the support for the first time since mid-August. BNB also looks set to reclaim back the support of the 50-day MA. 

With the next resistance at $326, BNB has a lot of room to move. The positive developments and crypto recoveries will boost the token back to the resistance zone. BNB is a buy on the breakout. However, investors should take advantage of a potential retracement once the price hits $300.

Summary

Binance coin is bullish and eyes $326 again. A bullish breakout from an insider bar setup at the $278 support makes a bullish case strong. $300 could offer some minor resistance forcing a short-term retracement. BNB is a buy at the current or lower level.

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The post A bullish breakout from inside bar setup makes BNB return to $326 realistic appeared first on CoinJournal.

Ethereum price erased most of the gains it made in 2021 as concerns about digital currencies rose. The coin dropped to a year-to-date low of $881 in June and then started a slow recovery that saw it rise above $2,000 in August. ETH was trading at $1,703 on Friday, which was about 93% above the lowest level this year.

Ethereum Merge is the main catalyst

Ethereum price has staged a strong recovery in the past few weeks as investors focus on the upcoming merge event. This will be the biggest transition in the blockchain industry as it will see the network move from a proof-of-work into a proof-of-stake platform. It will merge the current version with the Beacon Chain.

As a result, Ethereum mining will not be possible. Instead, the network will use a set of validators to confirm or deny transactions. In addition, the new network will set a stage for more upgrades in the future that will make Ethereum faster and more cost-effective. For example, Ethereum will introduce sharding, a technology that has been used by blockchains like Elrond and Near Protocol.

Historically, cryptocurrencies tend to rally towards a major upgrade or event. For example, Bitcoin tends to always rally ahead of a halving event. Still, it is still unclear whether ETH will continue rising after the merge. 

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Ethereum price, like other cryptocurrencies, is also being affected by other factors. Like Bitcoin, the coin is being affected by Fed’s monetary policies. This year, the bank has maintained an extremely hawkish tone that has seen it rise interest rates by 225 basis points and start a quantitative tightening policy.

In addition, Ethereum’s ecosystem has been shrinking. The total value locked (TVL) in its DeFi ecosystem has fallen while the value of NFT trades has fallen sharply.

Ethereum price prediction

The daily chart shows that Ethereum price has been in a strong bullish trend in the past few weeks. Along the way, it managed to move above the important resistance level at $1,281, which was the highest level on June 26. 

The pair has also moved above the 25-day and 50-day moving averages, which is a bullish sign. However, a closer look shows that it has formed a small head and shoulders pattern. Therefore, the coin will likely retreat in the coming weeks as investors sell the fact. If this happens, the next key reference level will be at $1,281.

The post Should I buy Ethereum Now? appeared first on CoinJournal.

OKB price has made a strong recovery on Friday as investors react to the company’s marketing incentives. The coin jumped to a high of $17.30, which was the highest level since August 26. It has jumped by more than 23% from the lowest level this month, bringing its market cap to over $990 million.

What is OKB and why is it rising?

OKX is a leading exchange that has a strong market share around the world. The company handles over $2.5 billion in the spot market on a daily basis. It also handles over $21 billion in derivatives, making it the second-biggest player after Binance, which handles more than $61 billion.

OKB is the native token for the ecosystem. Like other centralized exchange tokens, OKB is used to reward holders and provide discounts to traders. As part of its value creation, OKX uses 30% of income from the com[[any to buy back OKB from the 300 million that are in circulation. At the same time, they burn tokens after every three months. 

OKB price has rallied this week after the company announced a new campaign to popularize the exchange. The new campaign is known as ‘what is OK’ and will run in some of the best-known platforms globally. In line with this, the company will use Daniel Ricciardo, Pep Guardiola, and Scotty James.

The company hopes that the new campaign will make the brand more popular outside Asia, where it is not well known. In a statement, the Chief Marketing Officer (CMO) of the company said:

“It is now time to introduce OKX to the rest of the world. In the current climate, investors need an exchange that delivers a safe and responsible trading platform, while also offering them a very broad range of ways to pursue their own brand of financial liberty.”

In addition, OKX launched a new global content competition that will give YouTube and Twitter creators a chance to share $100k pool.

OKB price prediction

The four-hour chart shows that the OKB price made a spectacular comeback on Thursday. The token rose to a high of $17.33, which was the highest point in weeks. As it rose, the coin managed to cross the 25-day and 50-day moving averages while the MACD has moved above the neutral point. 

The pair seems to be forming a bullish consolidation pattern. Therefore, there is a likelihood that the coin will keep rising as buyers target the next key resistance at $20.

The post Here’s why OKB price is going parabolic and what next appeared first on CoinJournal.