Kategorie: Crypto Analysis

• 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.

Bitgert price has moved slightly above the lowest level last week as cryptocurrency prices continue ranging. BRISE, the platform’s native token, is trading at $0.00000036, which is slightly above last week’s low of $0.00000033. This price is about 98% below its all-time high of $0.00016 and about 40% above the lowest point last month.

What is Bitgert?

The blockchain industry has been evolving in the past few years as developers build products across industries like decentralized finance (DeFi), non-fungible tokens (NFT), and the metaverse. 

Ethereum has become the most important platform for building these projects. It has been used to build popular applications like OpenSea, AAVE, and Uniswap among others.

However, Ethereum has some limitations. For example, Ethereum is known for its slow speed and high transaction costs. 

As a result, many developers have come up with alternatives to Ethereum. Some of the most popular Ethereum alternatives are Cardano, Polkadot, and Solana. 

Learn more about how to buy Ethereum.

Bitgert is another upcoming smart contract platform that aims to become a viable rival to Ethereum. Its main features are that the website is highly secure, significantly faster, and cheaper. The average transaction per second (tps) is $0.00000001, meaning that it can handle over 100 million transactions with less than $1.

Bitgert is a relatively small Ethereum rival that has been used to build just a handful of applications. Some of the most common applications built using Bitgert are Knit Finance, Sphynx DeFI, and Midas NFT marketplace among others.

BRISE is the native token for the platform. The BRISE price has done well in the past few days as investors react to the news that its ecosystem is growing. It recently integrated USDC and USDT, two of the biggest stablecoins in the industry. It also announced that the yop 5 altcoins cross-chain bridges were expected soon. Also, Paybrise will soon have a Beta launch.

Bitgert price prediction

The four-hour chart shows that the BRISE price is trading at 38% above the lowest level this year. It is oscillating at the same point as the 25-day and 50-day moving averages. It has also formed what looks like a head and shoulders pattern. The Average True Range (ATR) has moved to the lowest point since June 26th.

Therefore, there is a likelihood that the Bitgert price will continue falling as bears target the key support at $0.000000026, which was the lowest point in June. This price is about 30% below the current level.

The post Bitgert Price Prediction for July 2022. Is BRISE a Good Buy? appeared first on CoinJournal.

The Jasmy coin price is hovering near its all-time low as demand for the Japanese coin remains under pressure. The token is trading at $0.010, which is slightly above its all-time low of $0.0084. According to CoinGecko, the coin has a market cap of over $48 million, making it a relatively small cryptocurrency.

What is Jasmy Coin?

Data has become one of the most important resources around the world. Today, giant companies like Meta Platforms, Twitter, and Snap are all based on user data. As a result, there have been soaring concerns about data privacy, which has triggered many governments to come up with laws to govern the sector.

Jasmy is a relatively small Japanese blockchain company that seeks to become a leading player in the data industry. It is often referred to as Japan’s Bitcoin. Its goal is to help users manage the data that they provide to companies well. At the same time, it aims to help companies safeguard user data well. In a recent statement, the company’s president, who was a former head of Sony said:

“We are solving this problem by spreading Web3 technologies such as blockchain and unique decentralized solutions using IoT. We want to lead the Web3 era.”

Jasmy has also launched a stablecoin known as DD that is backed by the Japanese yen. The goal is to ensure that users are able to accumulate points based on the stablecoin. The Jasmy Coin, on the other hand, is used to activate the wallet and provide governance for the ecosystem. 

In the past few months, Jasmy has entered into partnerships with several companies. For example, they have partnered with firms like Japan Travel, Sagam Dreams, and Transcosmos Corporation. 

Still, like all digital coins, the Jasmy Coin price has dropped sharply as worries about high-interest rates remain. Also, there are worries about whether more companies and users will embrace the platform.

Jasmy Coin price prediction

The four-hour chart shows that the JASMY price has been in a tight range in the past few days. It has remained slightly above the important support level at $0.0084, which is its all-time low. The price is also consolidating along the 25-period and 50-period moving averages while the Average True Range (ATR) has been in a downward trend.

Therefore, there is a likelihood that the JASMY token will soon have a bearish breakout as sellers target the key support at $0.0075. A move above the resistance at $0.011 will invalidate the bearish view.

The post Jasmy Coin Price is Nearing its Record Low. Is it a Good Buy? appeared first on CoinJournal.

• FTT holds steady at a $24 support level.

• FTX exchange to acquire BlockFi for $240 million.

• The Crypto sector faces bearish pressure amid macro-economic factors.

As the cryptocurrency sector faces bearish pressure, FTT and other tokens native to crypto exchanges have remained resilient. FTT has only lost 9.6% in the past month since trading at $27, as per data from CoinMarketCap. 

Comparatively, bitcoin has plunged 36% in the bearish market, which is attributed to macroeconomic factors. The hike of interest rates by the US Federal Reserve and the political turmoil in Europe has shifted attention to the less risky assets.

FTT token is currently trading at $24.4 after a 0.65% gain in the past day but remains down 8.98% in the last week. Overall, the token is trading at 69% below its all-time high of $76.4.

FTX gets option to acquire BlockFi for $240 million

FTX has signed a deal with the option to acquire the embattled crypto lender BlockFi for $240 million in a move to benefit from the bearish crypto space. The deal also includes extending the lender a $400 million revolving credit facility. Although the announcement is yet to impact the value of the FTT token, investors are expecting to benefit from the long-term gains from the expansion.

FTX has also been keen on its geographical expansion. The exchange was licensed in the first quarter to operate a virtual asset exchange and clearing house services in the UAE. Aside, The firm’s European subsidiary was awarded a license to offer services to institutional investors.

FTT holds steady at $24 support

Source: Tradingview 

From the daily technical outlook above, FTT is consolidating at the $24 support level after dropping below $35. The token has been on a steady decline since reaching a high of $51 towards the end of March. The RSI is at 42, affirming that the token has not entered the oversold zone, and further downward momentum could be seen. With the token at a key support level, a drop below it will open further weakness, and the FTT can trade lower.

Summary

As macro-economic factors continue to hold down the various crypto assets, FTT will remain largely bearish before a trend reversal. If the token goes below the current support level of $24, it could open further downward pressure. A buy entry is only recommended if the price clears above the current level with the confirmation of a bullish price signal.

The post FTX token price outlook after BlockFi acquisition deal appeared first on CoinJournal.