Kategorie: Crypto Analysis

• The bullish price estimate for OMI is between $0.0062 and $0.0125.

• The price of OMI may hit $0.02 this year. 

• The OMI negative market price forecast for 2022 is $0.00461.

The cryptocurrency market seems to be rapidly rebounding in recent days. After a negative run in the previous months, bulls have gradually increased in the past week. At the moment, it seems that the crypto-asset business will resume its upward trend.

Price is currently trading at the Central Pivot, price trading above P indicates that OMI uptrend may extend for some time because the final candlestick is above P.

The latter indicates that the current gain in ECOMI (OMI) value is unlikely to cease soon, as there may be stabilization and a resumption of the bullish trend which may lead us to break the previous all-time high and tap a high of 0.02 before the year ends. 

The long-term OMI price forecast for 2022

OMI is likely to trade around its current all-time high of $0.01338. Nevertheless, this will only transpire if many earlier psychological barriers are broken.

If the current upward pattern holds, ECOMI might be worth $0.02 by the conclusion of 2022. Furthermore, the first half of 2022 will see a modest increase of up to $0.0082. With planned collaborations and advances, achieving $0.03 is somewhat ambitious in terms of pricing, but it is undeniably doable in the foreseeable future.

The post Will the price of ECOMI (OMI) reach $0.02 in 2022? appeared first on Coin Journal.

• Litecoin is trading at $114.2, the highest level since the 27th of January. 

• Release of MimbleWible to positively affect Litecoin.

The recent selling pressure caused by macroeconomic considerations has been and will continue to be alleviated in February. Some analysts believe this month of February has traditionally been optimistic for Litecoin and the crypto industry.

Release of MimbleWimble

Without a doubt, the subsequent declaration of LTC’s MimbleWimble development as either a Release Candidate or beta might have a positive long-term influence on Litecoin. The update has been in the works for many years and is one of the most anticipated product launches for this cryptocurrency in its community.

The news was made on Twitter by the MimbleWimble’s and Litecoin Foundation’s primary creator, David Burkett. Burkett used the MWEB extension to release the first LTC domains, which may be viewed below.

The developer began focusing on this update in 2019, and as the Foundation stated, MimbleWimble would be included in this cryptocurrency’s Core 0.21.2 version sample with an extra privacy-related enhancement. 

According to Guy Corem, MimbleWimble will be authorized by the Litecoin network if 6,048 nodes are alert for its deployment beginning at block heigh 2,217,600. Before this time ends, the update must be accepted by 75% of the LTC nodes.

The Litecoin Foundation confirmed that the community and miners might start pushing for MimbleWimble when they get the update code. The commencement date for the execution of this plan will be set after the stated threshold is met.

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• The coin’s current price is $0.979, trading within a bearish wedge. 

• The price of Algorand is rising after finding support at the 4-hour central pivot ($0.92)

• The next resistance level remains firm at around $1.000 R1 level.

The most current Algorand price report reveals an upward trajectory for the day, as the bulls managed to obtain their advantage. The cryptocurrency encountered strong resistance last week but the bulls are again back on track.

The coin’s price rates have risen to a high of $0.98 due to the recent uptrend. If the bulls continue to advance, the ALGO/USD value is projected to rise even more this week.

Price recovers to $0.98 as bulls try to reclaim control

A significant amount of coin value was noticed in the one-day Algorand price study, indicating a positive trend for cryptocurrency. The price fell early this week, but the positive impetus has already been regained. The short-term trends line is heading higher as the price stabilized at $0.989. 

However, in the recent 24 hours, the price broke beyond the $0.964 barrier, and additional gains are likely. While the hourly price chart provides a favorable signal, the price has recently reached a high of $0.98, and traders are keenly watching if markets break the $1.0 key level before they commit to being fully bullish or wait for the bearish continuation.

The post The value of ALGO/USD rises to $0.982 following a mild bullish correction appeared first on Coin Journal.

• Cosmos dropped 45% over the last two weeks. 

• Price found support at the $26 mark. 

Cosmos (ATOM/USD) is a project meant to solve the main challenges facing blockchain technology. It aims to eliminate the negative consequences of using blockchains such as environmental degradation, high cost of power, and increased processing time of transactions and data transfer. 

On January 17th, 2022, Cosmos traded at the $44.4 mark and was one of the best-performing crypto assets for 2021. As 2021 started, Cosmos was trading at $4-$5 and reached a high of $44 before the year ended. This was more than a 1,000% return. 

Out of that outstanding gains for 2021, markets have wiped out more than 45% of the value of this coin in less than two weeks. 

The current market price is $28.270, and the weekly central pivot also offers some strong support to price, allowing bills to survive the bearish wrath from the last two weeks. 

Where next for this coin? 

If the price can float above $26 support, we might see some bullish pressure come into the market in the medium term to push the price to equilibrium for the week at the $30-$31 mark. However, most markets are still uncertain about the long-term direction. The general market is concentrated with interest rates risks from major central banks which may shift how financial markets have worked over the past three years.

The post Cosmos tries to find support at $26 after a 45% drop in two weeks appeared first on Coin Journal.

 UST and DAI are two stablecoins backed by other cryptocurrencies. Unlike other stablecoins, they are decentralized. Stablecoins are cryptocurrencies that maintain a stable price by being tied to another asset; crypto or fiat. They are less volatile than other cryptocurrencies.

 DAI was launched in 2017 by MakerDAO and was built on the Ethereum blockchain. It has the stability of a stablecoin and is as secure as the Ethereum platform. Its stability is maintained by collateralizing it with ETH in a smart contract algorithm. It helps secure and power the Maker network on which it is generated and traded.

 UST was launched in September 2020 by Terraform Labs. It is stabilized with the aid of a smart contract algorithm and an elastic money supply mechanism. New USTs are minted through a process called seigniorage. It is collateralized by LUNA- Terra’s native coin.

 Both stablecoins are decentralized as they have no central authority like the other popular stablecoins. Similarly, they are pegged to cryptocurrencies rather than fiat currencies. They use smart contract algorithms to maintain stable prices.

 In minting DAI, the collateral (ETH) must be way more than the amount of DAI to be minted. UST, on the other hand, needs an equivalent of LUNA in USD to mint the same amount. In doing this, a percentage of the LUNA is burnt, and another is reserved for the community treasury. The more UST is demanded, the more the appropriate amount of LUNA is burnt.

 The smart contract algorithm used for stabilizing UST can generate UST and maintain itself. However, high volatility with ETH can affect the stability of DAI. Also, the market caps and trading volumes of these assets indicate that UST is adopted over DAI.

 This might be due to UST’s arbitrage system that helps it automatically maintain supply when it is below peg. Right now, the Anchor protocol has made it possible to earn an APY of about 20% when UST is lent out. If you are looking to invest in a decentralized stablecoin, UST is the better investment.

 In the crypto space, everything is volatile no matter how stable it seems. Thus, deal wisely and do your research. Don’t invest beyond what you can’t afford to lose.

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