Kategorie: Crypto Analysis

The Basic Attention Token (BAT) price has been in a remarkable rally recently as investors buy the dip. The token is trading at $0.4270, which is about 66% above the lowest level in June. As a result, the token’s market cap has risen to more than $636 million.

Why is BAT rising?

Basic Attention Token is the native token for the Brave browser. Its primary role is to incentivize people to use the browser and its other features. Users can also decide to tip their favorite creators in the internet.

The concept behind BAT is relatively simple. The developers created a chromium browser that has some of the most advanced security features, As part of their growth, the developers partner with companies in all industries that want to reach millions of users.

These companies make their payment and then the ads are shown to its users. These users are then compensated for paying attention to these adverts. At the end of the month, these funds are transferred to their online wallet. Finally, users can decide to withdraw the funds to their accounts.

Brave has become a very popular browser with more than 55 million monthly users. Over 16 million of these people interact with it on a daily basis. 

In addition, the team has built more tools as it tries to compete with Google and Microsoft. They have built a search engine, a video communication app, and a cryptocurrency wallet.

Read our review of the Coinbase wallet.

At the same time, they have increased their partnerships. In June, they partnered with Filecoin and integrated its storage platform to the network. They also inked a major partnership with Near Protocol to integrate Aurora into the Brave wallet. 

Most importantly, the BAT token is being used to power Brave Swaps, a multi-chain DeFi platform. Still, the challenge for many users is that the BAT price is highly volatile. It has dropped by more than 80% from its all-time high.

BAT price prediction

The daily chart shows that the Basic Attention Token price has made a slow comeback in the past few days. Along the way, it remains above the ascending trendline that is shown in blue. It has also moved above the 25-day and 50-day moving averages. Notably, it has formed an inverted head and shoulders pattern.

Therefore, there is a likelihood that the BAT price will continue rising as bulls target the key resistance at $0.50. A drop below the support at $0.4 will invalidate the bullish view.

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Navcoin price went parabolic on Tuesday as investors pumped the Bitcoin alternative. NAV jumped to a high of $0.1540, which was the highest level since May 5th of this year. This price is about 218% above the lowest level in June.

What is NAV and why is it rising?

Navcoin is a cryptocurrency that was developed by Navtech and launched in 2014. It is a relatively small cryptocurrency that seeks to become a viable alternative to Bitcoin. 

Navcoin works to solve some of the biggest challenges that Bitcoin has. For example, Bitcoin is not a private cryptocurrency, which explains why the FBI is able to track transactions in its network. 

Similarly, Bitcoin is not a cheap cryptocurrency to use considering that a single transaction can cost tens of dollars. Most importantly, Bitcoin is based on the proof-of-work technology that is usually inefficient.

Navcoin solves all this in a number of ways. It is a proof-of-stake cryptocurrency that has strong privacy features. The coin has some security features similar to that of Monero.

Read our exclusive eToro review.

As a proof-of-stake coin, Navcoin gives its holders the ability to earn interest by just holding it. In addition to the NAV token, there is the xNAV and wNAV. xNAV is a private currency that is created using Navcoin’s technology. It is used by people who want to hide their identity when sending and receiving money.

wNAV, on the other hand, is the wrapped version of NAV and xNAV. It is a coin that allows you to interact with dApps and NFTs. Some of the top apps built using Navcoin’s technology are NavAlias, NavPool, NavBridge, and NavExplorer.

The Navcoin price is rising as the number of addresses in the ecosystem bounce back. After falling sharply last week, the number of active addresses has risen steadily in the past few hours.

Navcoin price prediction

The daily chart shows that the NAV price has bounced back in the past few days. Precisely, it has jumped from last month’s low of $0.0475 to the current level of $0.1550. As a result, the coin’s 25-day and 50-day moving averages have made a bullish crossover pattern while the Relative Strength Index has kept rising.

Navcoin is also above the important resistance level at $0.1167, which was the highest point on May 20th. Therefore, I suspect that the coin will likely keep rising as bulls target the key resistance point at $0.20. A drop below the support at $0.115 will invalidate the bearish view.

The post Navcoin price has risen by 218% in 2 weeks. More upside? appeared first on CoinJournal.

The cryptocurrency market has continued its excellent start to the new week, with most coins up by more than 4% in the last 24 hours.

The new week is shaping out to be a positive one for the broader cryptocurrency market. The market has added nearly 6% to its value in the last 24 hours, and the total market cap now stands above $915 billion. 

Bitcoin finally crossed the $20k psychological level after adding more than 6% to its value. Ether is closing in on the $1,200 resistance level and is up by more than 10% in the last 24 hours.

MATIC, the native token of the Polygon ecosystem, is the best performer amongst the top 20 cryptocurrencies by market cap. MATIC has added more than 15% to its value in the last 24 hours and currently trades above $0.530 per coin.

The rally can be attributed to the talks on Web3 adoption by Polygon co-founder Mihailo Bjelic on Monday. According to Bjelic, mass adoption of Web3 will happen on mobile, and Polygon is preparing to play a crucial role in this development.

Mass adoption of Web3 will happen on mobile and @0xPolygon is preparing for it.

Our strategy is not to make our own devices. Instead, we will integrate with existing manufacturers.

Today, we are proud to announce the first major integration.

Onwards. 🔥https://t.co/sGCfTm6v7P

— Mihailo Bjelic (@MihailoBjelic) July 4, 2022

The tweet was accompanied by a link to the announcement that HTC had launched a metaverse phone with Polygon and Ethereum support.

Key levels to watch

The MATIC/USD 4-hour chart is bullish as MATIC has been performing well over the past 48 hours.

The MACD line crossed into the positive zone a few hours ago, indicating bullish momentum. The 14-day RSI of 64 shows that MATIC could soon enter the overbought region if the rally continues.

MATIC could surge past the first major resistance level at $0.629 before the end of the day. In the event of extended bullish performance, MATIC could target the $0.70 level for the first time this month. 

The post MATIC is up by more than 15% today: here is why appeared first on CoinJournal.

• DOGE faces resistance at the $0.07, retraces to $0.06

• Coinbase commerce adds DOGE payments 

• Elon Musk faces $258 billion lawsuits for an alleged DOGE pyramid scheme

Dogecoin (DOGE/USD) has remained subdued since its promoter Elon Musk was sued for $258 billion by an investor. The plaintiff accused the billionaire and his companies of manipulating the value of the meme coin for selfish gains.

DOGE is currently trading at $0.06812 after a 5.01% decline in the past week, according to data from CoinMarketCap. The bearish market sentiment has aggravated the self-off. However, the growing adoption of the token for payments seems to be giving it a boost.

Coinbase Commerce adds support for DOGE payments

DOGE showed some recovery after Coinbase Commerce included it as supported payments in its services. The addition is part of the exchange’s move to provide instant and free payments to the managed merchants. The announcement has kept the meme token afloat amid a bearish pressure that has seen it register a significant retracement.

The monthly outlook shows a price decline of 16% since trading at $0.081. Equally, DOGE is one of the tokens hard hit by the crypto sell-off, having shed off 64% year-to-date. Will DOGE record a trend reversal, or will it face more bearish pressure?

DOGE finds resistance at $0.07

Source: Tradingview

From the daily price outlook, DOGE found resistance at $0.07 on June 27 before retracing to $0.06. The technical indicators show that the token is still bullish, with the 20-day moving average (black line) joining the support.

Some consolidation is expected to be seen at the 50-day moving average (green line) before any bullish momentum can set in. The RSI reading is 48 shows that the token has not reached an oversold zone and could decline further. DOGE remains bearish below the $0.07 support, turned resistance level. A buy entry will only be recommended above the resistance.

Summary

DOGE remains mainly bearish, with the RSI showing a possibility of potential lower levels. A buy can only be recommended once the token surge clearly above the $0.07 resistance level, with the confirmation of a bullish price signal.

The post Should you buy DOGE at the current $0.06 retracement? appeared first on CoinJournal.

• Shiba Inu’s token has been consolidating since May.

• The “meme” cryptocurrency has been regarded as a Dogecoin killer.

• SHIB needs to break above key resistance to consider a bullish move attenable.

Shiba Inu SHIB/USD is a coin to watch as market sentiment remains weak. Notably, the coin has been showing signs of a recovery. The price has been consolidating between $0.00001 and $0.000012 since May. The crypto-token slipped below the consolidation zone in June but recovered some days later. We believe $0.000012 is a key resistance zone for investors seeking to buy Shiba Inu.

Shiba Inu has often been touted as a Dogecoin killer. The labeling comes due to their resemblance to Dogecoin. Both cryptos are regarded as “meme coins.” Shiba Inu was an overnight sensation in 2021, ending the year as one of the most searched cryptos. Often, SHIB and Dogecoin have been driven by social media mentions rather than fundamentals. With crypto interest remaining muted, the two coins have faced steep selloffs. 

SHIB consolidates but needs a breakout to surge higher

Source – TradingView

Technically, Shiba Inu is in consolidation mode. The 14-day and 21-day moving averages have joined support. The price has crashed back to the $0.00001 support after hitting a resistance. However, historically, SHIB has been very volatile. It could break above the resistance quickly for the smallest of news. At the moment, we find no immediate trigger, and the price could remain subdued. Investors’ attention should turn to the $0.000012 resistance if they seek to buy SHIB.

Summary

Shiba INU is a popular meme token, together with Dogecoin. SHIB crashed this year, alongside major cryptocurrencies. The meme token is currently consolidating. Investors should watch $0.000012 for bullish confirmation before buying.

The post Shiba Inu shows promising signs, but key breakout must occur to go higher appeared first on CoinJournal.