Kategorie: Crypto Analysis

Daily headlines and news about crypto analysis.

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NEAR is up by 10% on Monday: Here is why

NEAR is one of the best performers amongst the top 100 cryptocurrencies on Monday as the market starts the week on the front foot.

The cryptocurrency market has started the week on the front foot. NEAR, the native token of the Near Protocol, is one of the best performers amongst the top 100 cryptocurrencies on Monday.

NEAR has added 10% to its value today, outperforming the broader cryptocurrency in the process. The broader market added 1% to its value on Monday, with the total market cap still above $1 trillion.

Bitcoin has climbed above the $22k resistance level after rallying by more than 11% over the past seven days. Ether is down by more than 1% in the last 24 hours and is trading around $1,700 despite the Merge getting closer.

NEAR’s rally comes as the Near Protocol officially launches its NEARCON event today.

The event is taking place in Lisbon, Portugal, and is highlighting all the ways the Near ecosystem is growing. There will be talks, networking, workshops, live demos, entertainment, and more.

Key levels to watch

The NEAR/USD 4-hour chart is bullish as the Near Protocol has been performing well over the last 24 hours. The technical indicators show that NEAR is outperforming the broader cryptocurrency market.

At press time, NEAR is trading at $5.1712. The MACD line crossed into the positive zone earlier this month and continues to remain there, indicating strong bullish momentum.

The 14-day relative strength index of 71 shows that NEAR could enter the overbought region if the rally continues.

If the bulls remain in charge, NEAR could touch the $5.557 resistance level before the end of the day. The second major resistance level is around $6.16, and NEAR could reach that level for the first time since May if the rally can be sustained.  

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 NEAR with Binance today

Okcoin

Okcoin is a globally licensed exchange with offices in San Francisco, Miami, Malta, Hong Kong, Singapore and Japan. Okcoin’s mission is to help decentralize finance and level the economic playing field for everyone around the world. Serves 190+ countries with over 100K+ active traders and investors.

Buy NEAR with Okcoin today

The post NEAR is up by 10% on Monday: Here is why appeared first on CoinJournal.

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Why is GOLEM up by more than 40% on Monday?

Golem is currently the best performer amongst the leading 100 cryptocurrencies on Monday.

GLM, the native token of the Golem ecosystem, is setting the trend on Monday, as it is outperforming the broader cryptocurrency market. 

The broader market added 1% to its value on Monday, with the total market cap still above $1 trillion.

Bitcoin has climbed above the $22k resistance level after rallying by more than 11% over the past seven days. Ether is down by more than 1% in the last 24 hours and is trading around $1,700 despite the Merge getting closer.

GLM is the best performer amongst the top 100 cryptocurrencies on Monday. GLM has added more than 40% to its value so far today and is trading at $0.419 per coin. There is no immediate catalyst behind this rally. There is no upcoming event in the Golem ecosystem 

Key levels to watch

The GLM/USD 4-hour chart is extremely bullish as Golem has been performing positively over the last 24 hours. The technical indicators show that GOLEM is outperforming the broader crypto market at the moment.

The MACD line is deep within the positive territory, indicating bullish momentum. It has been within that region since September 8, indicating that the bulls are currently in control of the market.

The 14-day relative strength index of 80 shows that GLM will soon enter the overbought region if the rally continues.

If the bulls continue to be in charge, GLM could surge past the first major resistance level at $0.51 before the end of the day. In the event of an extended bullish run, GLM could surge past the $0.60 resistance level for the first time since the start of the year.

We are still in a bearish market, and the bears could regain partial control. If that happens, GLM could slip below the $0.40 psychological level over the next few hours.

However, GLM should comfortably defend its position above the $0.36 support level in the near term. 

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 GLM with Binance today

Coinbase

Coinbase is a global cryptocurrency exchange. Its platform is well designed for beginner investors and it offers a wide range of coins, as it has over 100 to choose from. Coinbase has high level security built into the platform, a range of diverse features to use and it offers its users options for storing their crypto, such as being able to store coins on the Coinbase exchange.

Buy GLM with Coinbase today

 

The post Why is GOLEM up by more than 40% on Monday? appeared first on CoinJournal.

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Should You Buy the Bitcoin Dip?

Bitcoin price has had a tough performance in 2022. After soaring to an all-time high of near $70,000 in 2021, the price has collapsed to about $20,000. This means that it has fallen by more than 68% from its all-time high. So, should you buy the BTC dip?

Why has BTC dipped?

There are several reasons why Bitcoin price has crashed hard in the past few months. First, Bitcoin crashed because of the falling fiscal monetary in the United States. Unlike in 2020 and 2021, the American government has not announced any major fiscal stimulus policies. In 2021, the country provided trillions of dollars in fiscal stimulus, some of which ended in Bitcoin.

Second, the BTC price crashed because of the actions by the Federal Reserve. After keeping interest rates extremely low for years, the Fed embraced an extremely hawkish tone this year. It has hiked interest rates by 225 basis points this year and started reducing its balance sheet. 

In most periods, risky assets tend to underperform in a period of high-interest rates. Indeed, the three top American indices like the Dow Jones, Nasdaq 100, and S&P 500 have all moved into a bear market as stocks slip. Similarly, other popular assets like gold and silver have also pulled back.

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.

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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.

Buy BTC with Skilling today

Meanwhile, it seems like demand for Bitcoin has dropped sharply recently. For one, on-chain data shows that the level of activity in the network has been falling. In addition, results from companies like Block and Coinbase showed that the number of Bitcoin traders has been falling. 

So, should you buy the Bitcoin dip? In my view, I believe that one can start buying this dip using a dollar-cost averaging technique. For one, it seems like the coin is forming a double-bottom pattern. Also, there are signs that inflation is easing, which will see the Fed start slowing its hikes in the coming months.

Bitcoin price prediction

The four-hour chart shows that the BTC/USD price is forming a double-top pattern, whose floor was at 17,708. In price action analysis, this pattern is usually a bullish sign. At the same time, the accumulation and distribution indicator has moved slightly upwards.

Therefore, there is a likelihood that the coin will start rising as long as bulls are able to remain above the key support at $17,708. However, as I wrote on Friday, a drop below this support will see the coin crash to below $13,000.

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

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Should I buy Cardano now?

Cardano price has made a spectacular recovery in the past two weeks as investors wait for the upcoming Ethereum Merge. It has rallied from August’s low of $0.4248 to a high of $0.5244, giving it a market cap of over $17 billion.

Why is ADA recovering?

Cardano is an Ethereum-killer that aims to be the leading platform for building apps in decentralized finance (DeFi), non-fungible tokens (NFT), and the metaverse. Developers started building on its platform in 2021 following the Alonzo hard fork. 

In the past few months, the number of developers building on Cardano has been rising. According to its website, there are now over 1,000 developers building apps in all sectors. However, it appears that the network has not had substantial success. 

For example, its DeFi ecosystem now has a total value locked (TVL) of about $192 million, making it smaller than other newer blockchains like Cronos and Avalanche. MinSwap, which has a TVL of $48.8 million, has a market dominance of 53%.

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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.

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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.

Register with Skilling instantly

The next key catalyst for Cardano price will be the upcoming Vasil hard fork that will happen in September. This will be an important fork that will make the platform substantially faster and more accommodating to developers. There is a likelihood that ADA price will continue rising toward this hard fork.

Meanwhile, like all cryptocurrencies, ADA price will also react to the upcoming Ethereum Merge. Merge is a transition that will see the network move from a proof-of-work (PoW) into a proof-of-stake (PoS). Historically, the price of cryptocurrencies tend to move in sync.

Another key catalyst that will affect the price of Cardano will be the actions of the Federal Reserve. With inflation slipping, there is a likelihood that the Fed will start slowing its aggressive rate hike in the coming months.

Cardano price prediction

The four-hour chart shows that Cardano price has been in a strong bullish trend in the past few weeks. It has moved above the important resistance level at $0.4823, which was the highest point on 26th August. It was also the upper side of the ascending triangle pattern. 

Meanwhile, ADA price has also moved above the 25-day and 50-day moving averages while the MACD has moved above the neutral point. It has also invalidated the double-top pattern, which is usually a bearish sign.

Therefore, there is a likelihood that Cardano will continue rising in the near term as buyers target the key resistance at $0.5947, which is about 17% above the current level. Therefore, there is a likelihood that Cardano will keep rising ahead of merge and Vasil hard fork.

The post Should I buy Cardano now? appeared first on CoinJournal.

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Here are top trending cryptocurrencies that could 3X in September

Despite many predictions that the cryptocurrency market could be headed lower, it shows remarkable resilience. Buying volumes are rising, and Bitcoin is rallying back to $20k after slipping to $18k. However, it is altcoins that are showing the most promise at the moment, with some of them currently making double-digit gains. If this trend continues, then this could be an excellent time to start buying into high-potential altcoins that could rally for the better part of September. With this background in mind, let’s look at some of the altcoins that can easily 3X in September. 

Terra Classic (LUNC)

Terra Classic (LUNC) is making headlines at the moment for its meteoric rise recently. In the last 7-days, Terra Classic has been up by over 80%, and the momentum continues to rise. Terra Classic is likely to keep going up in value because of the accelerated coin burn it is going through at the moment. This means Terra supply is dropping fast, even as demand continues to rise. With FOMO building up now that LUNA is back in the top 50 cryptocurrencies, there is a good chance that this cryptocurrency could easily 3X, or more, within the month.

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.

Cosmos (ATOM)

Cosmos (ATOM) has been gaining momentum fast in the last 24 hours. ATOM is up by over 10% in this period, and upside momentum is rising. ATOM is supported by increased bullish momentum across the market and its internal fundamentals driving its adoption. Recently, Cosmos introduced the Interchain Developer Academy. This aims to increase the number of people building on the Cosmos network. However, in the very short term, the broader market momentum and the various airdrops are likely to give ATOM a boost in value. With growing momentum at a time when Bitcoin is still sluggish, FOMO could easily see ATOM 3X by the end of the month.

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.

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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.

Buy ATOM with Skilling today

Shiba Inu (SHIB)

Shiba Inu (SHIB) is yet to gain momentum this week, but all odds seem to be in its favor it the broader market continues going up. One thing that gives Shiba Inu an edge in the short term is the accelerated token burn that has taken place over the last few weeks. Hundreds of millions of Shiba Inu are being burned every day, a factor that could see Shiba Inu rally due to supply and demand factors. At the same time, the fact that SHIB is pretty cheap makes it easily accessible to small investors looking to buy into crypto and take advantage of the next cryptocurrency bull run. A combination of shrinking supply, and an attractive price, makes SHIB a cryptocurrency with the potential to 3X in the month. It could be a perfect buy now that it is still consolidating.

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.

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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.

Buy SHIB with Capital.com today

The post Here are top trending cryptocurrencies that could 3X in September appeared first on CoinJournal.