Kategorie: Crypto Analysis

• At $18.05, there was resistance.

• At $15.5, the LINK/USD pair found strong support.

The Chainlink price research shows that bulls have been ready to withstand the negative wave, which is good for cryptocurrencies. The currency had tremendous depreciation over the current month, but prices are steadily increasing, and they are predicted to reach beyond their current price level of $17 in the near term. 

However, the next barrier is still at $18.6, which explains why the price oscillation is moderate today. However, if the bullish trend continues in the following 24 hours, the resistance level may be exceeded, and LINK may have a smooth rally to $20, which is the next key level. 

The bulls maintain their advantage, overcoming the bearish impediment

According to the most recent updates, the one-day price chart for the Chainlink price review reveals that cryptocurrency prices have grown today, with negative pressure also visible. The price had hit $18.053, up 10.36 percent on Sunday. The chart also illustrates that the bulls attempted to make a comeback in recent days and have now regained control as bulls today have held prices above prior low. 

The post LINK/USD value rose to a high of $18.05, as the recent bullish trend persists appeared first on Coin Journal.

• Filecoin price analysis turns optimistic.

• At $19.2, there is support for FIL.

• At $21.9, there is some resistance.

The most recent Filecoin price analysis indicates a positive trend, as the price has increased significantly today. Yesterday, the value of FIL peaked at $19.6 after breaking over the barrier of $19.3, and today, the bullish upswing has led to a further gain in the price, with its value increasing to $20.3, hitting a weekly high. At the start of today’s trading session, the price breakout was higher, as bulls managed to maintain their advantage. Prices are projected to rise much more in the following hours.

The upward trend in the FIL/USD 1-day price chart continues over $20

The one-day Filecoin value analysis reveals that today’s price function is still moving higher. The price has risen, and the coin is now worth $20.3. Although these price fluctuations are minor, the cryptocurrency has acquired a valuation of 5.60 percent in the previous 24 hours. The crypto combination has earned a value of 8.80 percent in the last week; perhaps, the price will rise more during the day. 

The FIL/USD has been able to hold the price level during this week, as the persistent downward trajectory appears to be drawing to a halt.

As a consequence of the recent positive movement, the price is presently at $20.3.

The current moving average value is $19.7. Volatility is minimal, suggesting that an upswing is imminent. The Bollinger Bands Indicator’s upper limit is $20.55, signaling resistance for FIL’s price, while its lower limit is $18.1.

The post FIL/USD has a potential to gain 30% if bullish momentum is sustained appeared first on Coin Journal.

 Chainlink and Band protocol are two blockchain oracles that have been gaining momentum. Oracles are a new type of technology that enables the transfer of real-world data into the blockchain network. They make data readily available for blockchains and their smart contracts. It can be hardware, software, or consensus-based.

 Chainlink is the first oracle platform, and it was launched in September 2017 on the Ethereum blockchain. It aims to integrate off-chain data with existing smart contracts. It provides projects on the Ethereum blockchain with relevant data. In essence, it comprises nodes built on an oracle framework to transmit data and information from off-blockchain sources to the smart contracts on supported blockchains.

 Its execution process includes oracle selection, data reporting, and result aggregation. Like Chainlink, Band protocol connects the blockchain network with verifiable data from the outside world. It was initially built on the Ethereum blockchain in 2017 when it was launched. However, it was recently moved to the Cosmos network.

 It uses the Tendermint Delegated-Proof-of-Stake consensus algorithm. Also, it has Inter-Blockchain Communication (IBC) protocol that allows it to interact with other blockchains. It is aimed at improving speed, scalability, cross-chain interoperability, and data flexibility on the blockchain.

 While both offer nearly the same functionality, the Band protocol is interoperable, cheaper, faster, and easier to use. Moreover, data providers can earn their data native tokens for data provision. While the total and max supply of LINK is 1 billion, BAND is capped at 100 million.

 One LINK is worth $16.26 as of today having dropped by 68.8% from its ATH of $52.70 in May 2021. BAND, on the other hand, costs $3.50 right now which is 84.8% from its peak of $22.83 in April 2021. As blockchain oracles, BAND has the potential of outperforming LINK in the long run and is low right now that you can bag it massively. In the long run, its limited supply will contribute to driving its price upward.

 This is asides from its compatibility with other blockchains and eco-friendly nature. If you are looking for something stable and secure, LINK is the call. But if you want a long-term investment option, then go for BAND.

Cryptocurrency investment is very risky. Do not put the money you can’t afford to lose wholeheartedly. Deal wisely and do your research.

The post LINK vs BAND – Which one is a better investment? appeared first on Coin Journal.

 Decentralized finance (DeFi) uses smart contracts to decentralize and disrupt the financial system. It aims to eliminate intermediaries, remove paperwork, and create equal opportunities. Blockchain technology has led to the creation of numerous DeFi platforms, including Terra and Aave, which would be a better buy between the native tokens of these two platforms.

 Aave was initially ETHLend when it was launched in 2017 by Stani Kulechov. It was one of the pioneer DeFi platforms that provided liquidity for borrowers and lenders in the crypto space. It also allowed users to stake their AAVE for rewards and discounts. Asides from this, it supports Aave pay, Aave clearing, and Aave gaming.

 LUNA is the native token of the Terra blockchain, a blockchain in 2018 by Daniel Shin and Do Kwon. It was built on the Cosmos SDK and operated on the Tendermint Delegated-Proof-of-Stake consensus algorithm. It is a DeFi platform that allows the deployment of stablecoins. Transactions are settled instantly at low fees across borders. Mirror Finance, Anchor Protocol, and CHAI payment app are some projects on the ecosystem.

 While LUNA was created on the Terra blockchain, AAVE is an Ethereum token. This implies that AAVE will be affected by the high transactions fees of the Ethereum network. To get one AAVE, you need $152.65, whereas a LUNA costs $52.72.

 The increase in the adoption of the Terra blockchain is evident in the market cap of LUNA ($21.08 billion), unlike AAVE which has a low market cap ($2.04 billion). Similarly, their 24-hour market cap shows that LUNA is being traded largely compared to AAVE ($3 billion to $125 million). It is predicted that LUNA can do times four its current price before the end of the year.

 LUNA’s price would be driven by its significant role in the Terra blockchain as it helps to stabilize the economy amidst other functions. The price aside, LUNA is the best buy anytime any day. It is advisable to bag as much as you can before the bull run returns.

 However, this isn’t enough; do your research, average the dollar cost, and deal wisely.

The post LUNA vs AAVE – Which one is a better investment? appeared first on Coin Journal.

• Polkadot prices rose early in the trading day, breaking over the $18.51 barrier level.

• Price movement was optimistic, hitting as high as $18.88, despite a 20% drop in trading volume.

• Current trends indicate that selling pressure will increase as volatility rises.

After almost seven weeks of oscillation, the 21 January sell-off caused DOT to relinquish its oscillating pattern of $29.9-$23.11. Ever since, the bears have gained control, converting the $23.11 five-month support level into resistance.

The cryptocurrency plummeted to a 25-week low on January 24, posting a 38.34 percent drop. DOT created an ascending triangle on its 4-hour chart during the last several days as the bulls strengthened their pressure.

Source – TradingView

Polkadot price research indicates that the coin is on the rise. On the day’s session, the price jumped 4 percent to $18.88. In doing so, DOT broke over the $18.51 resistance level, which is currently at $20.44. Furthermore, trading volume for DOT declined by more than 20%, presenting a perfectly positive picture throughout the day’s trade.

Recent price movement suggests that most traders are ready to cash out, which will increase market volatility. 

From January 17, the DOT value has been associated with a sinking cryptocurrency market, but it has just seen its first daily uptick since then. Traders are anticipated to be wary of the present volatility, which will aid in pushing prices down in the next session.

DOT has formed an ascending triangle

The cryptocurrency plummeted to a 25-week low on January 24, posting a 38.34 percent drop. DOT created an ascending triangle on its 4-hour chart during the last several days as the bulls strengthened their pressure.

While in line with the price, the initial support was mainly near the 50-point level. Furthermore, the CMF (Chainlink Money Flow) recovered above the midpoint and demonstrated a positive bias. Nevertheless, the OBV was unable to overcome its first resistance.

The post Polkadot traded at $18.88- support turns resistance level. Is it time to cash out? appeared first on Coin Journal.