Kategorie: Crypto Analysis

• 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.

The post TerraUSD (UST) vs Dai (DAI) – Which one is a better investment? appeared first on Coin Journal.

• 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. 

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• 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.

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