Kategorie: Crypto News

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Cardano price outlook: What next for ADA after bulls break $0.4?

  • Cardano price reached an intraday high of $0.42 on Thursday.
  • The price of ADA token is up more than 63% in 2023 at current levels.
  • On-chain metrics and other factors suggest ADA could continue higher, especially is wider sentiment remains positive.

ADA, the native token of the Cardano blockchain ecosystem, was flat around 4 pm ET on Thursday as the market appeared to cool off following a strong showing that started with Bitcoin’s greatest performance of 2023 so far.

While the Cardano price shows a sideways outlook, ADA bulls did have a great break when they pierced resistance at $0.40. Indeed, the cryptocurrency’s value rose as high as $0.42 on leading crypto exchanges. Cardano’s token is up roughly 16% over the past month, with current prices last seen in the first week of February.

What helped ADA prices get higher in recent weeks?

After a brutal 2022 for ADA, Cardano has had a great start in 2023. In fact, ADA/USD is 63% year-to-date at current levels above $0.40.

What then has helped the Cardano price to surge to today’s highs? Mostly, it’s been down to the bullish sentiment experienced across crypto so far in 2023 – even with the slight derailment seen earlier in the week amid a stablecoin crackdown.

However, talk of revisiting algorithmic stablecoins, including Cardano based DJED particularly buoyed ADA markets. 

Data also shows there has also been massive whale activity around ADA in the past two weeks.  On-chain metrics highlight average daily transactions above 1,700, while large investors (whales and sharks) continued to scoop ADA throughout the last three or so months.

As Santiment researchers noted recently, addresses with 10,000 to 10 million ADA had accumulated nearly 660 million tokens approximately worth $235 million since the price crash that followed the collapse of the FTX crypto exchange.

Additionally, sentiment is this week more upbeat after Cardano developer Input Output HK announced a key upgrade to the network had successfully gone live. According to the firm, the SECP upgrade adds scalability, and enhances cross-chain interoperability. As such, Cardano now supports more cross-chain dApps.

Are these metrics good for Cardano price? Likely. Indeed ADA bull Dan Gambardello suggests ADA/USD has formed an inverse head & shoulders pattern and predicts the next target could be $0.65. 

The post Cardano price outlook: What next for ADA after bulls break $0.4? appeared first on CoinJournal.

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Polygon (MATIC) price jumps 13% to $1.45 – Can it go higher?

  • Polygon (MATIC) exploded 13% amid a major rally for cryptocurrencies.
  • The gains for MATIC price come amid major network developments and partnerships.
  • MATIC could surge even higher, but a retreat to support at $1.40 is also likely.

Polygon is among today’s most impressive performers, with the cryptocurrency’s native MATIC surging 13% in the past 24 hours to break to $1.45. Data from CoinGecko shows the Polygon price traded at $1.28 before the rally that came as the rest of the crypto market ripped higher – led by Bitcoin’s jump to above $25,000.

Today’s rally for MATIC adds to a bullish run over the past two days, with the token’s value climbing from lows of $1.14 on Tuesday.

Why could MATIC price go higher?

Polygon price has benefitted from the overall sentiment across the crypto market, which is reflected in the Bitcoin Fear & Greed Index moving from neutral to greed.

However, the upside momentum has also been down to major developments on the Ethereum scaling protocol.  

One of the big announcements is around Square Enix, a leading video game developer from Japan known for titles such as Final Fantasy & Kingdom Hearts. The company is set to launch its Web3 game on the Polygon blockchain. The Plague of Frogs is also coming to Polygon, adding to other partnerships with the National Geographic.

Also key is the upcoming launch of Polygon zkEVM on 27 March 2023, which as CoinJournal recently reported, will bring frictionless scaling to Ethereum. As noted by Orion Depp, Managing Partner at Master Ventures Institutional Investment Management, the zkEVM beta mainnet launch will “revolutionize blockchain transactions.”

Can these developments help MATIC price higher? Crypto trader and investor Luke Martin says MATIC price has only been on the up in 2023 and notes the zkEVM mainnet launch could be fueling the latest pump. 

If bears retake control, the first major support zone is near $1.40 and then $1.36.

The post Polygon (MATIC) price jumps 13% to $1.45 – Can it go higher? appeared first on CoinJournal.

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Metacade Crypto Presale – What You Need To Know Before You Invest

After a rapid sell-out during the early stages of the Metacade crypto presale, the project now looks ready to explode. The MCADE token could be one of the best cryptos to invest in now, as it powers a comprehensive platform with vast potential for the future.

Could Metacade be the best crypto to invest in now? The presale is a rare opportunity to buy at low prices, and many of the best cryptos to invest in now combine broad utility with plenty of room for future growth.

Metacade has these characteristics, so here is a deep dive into the platform to see what it offers.

Metacade is one of the best crypto to invest in now

Crypto presales are often some of the most lucrative investment opportunities in the world of cryptocurrency, with top projects being launched at extremely low prices. These opportunities are rare, but when a high–potential crypto project is launched during a presale, investors are often quick to snap up as many tokens as possible.

This has undoubtedly been the case with Metacade, which is already mid-way through its presale. $6.7m has been raised in 12 weeks, which is an indication that Metacade could be in for some explosive future price action.

The project is helping to drive the GameFi revolution, making it one of the best crypto investments. GameFi combines some of the most advanced online gaming experiences with integrated financial rewards for users, so it’s no wonder that leading projects such as Metacade show vast promise and long-term price potential.

Can MCADE reach $5 in 2025?

After the MCADE crypto presale, the metaverse arcade will go live and offer a range of exclusive services to GameFi players and Web3 users. As well as this, the MCADE token will be launched on exchanges, which is expected to boost the project’s reach and drive price action upwards.

In 2023, MCADE has a $1 price target. This is a monumental 50x rise from the end of the crypto presale, but Metacade is unlikely to stop there. In 2024 and beyond, the wider crypto market may enter a bull market, at which point the MCADE token could go parabolic.

In 2025, Metacade’s target exceeds $5. MCADE could reach up to $7 that year, which amounts to a 350x price rise from the end of the crypto presale. With such high long-term potential, it’s no wonder that experts are highlighting MCADE as the best crypto to invest in now.

What is Metacade?

Metacade will become the largest arcade on the blockchain, offering a vast selection of different online games that each have integrated earning mechanics. By combining play-to-earn capabilities with addictive gameplay, Metacade could become a leading project in the GameFi sector over time.

Metacade will also be a central hub for Web3 users, offering vast earning potential that goes beyond the metaverse arcade. It will display all the latest trends in blockchain gaming and some of the most valuable alpha on the blockchain. It will help to drive progress in GameFi directly with several unique initiatives.

How does MCADE work?

The MCADE token will be used to provide rewards in the Metacade. Gameplay ranges from casual to competitive, offering solo gaming experiences where players can progress through infinite levels to earn tokens and ranked competitive tournaments that offer major crypto prizes to the winners.

Metacade’s community hub will reward users for their contributions. This can include posting game reviews, sharing alpha, or interacting with other members of the community. All content creators in the Metacade can earn MCADE token rewards through the Create2Earn feature.

The project also aims to help crypto enthusiasts kickstart their blockchain careers. The Work2Earn feature will connect Web3 users with paid job opportunities, ranging from gig work to game testing roles to full-time positions at leading blockchain companies.

MCADE is a game-changer

On top of all its other features, Metacade is introducing a crowdfunding initiative for brand-new blockchain-based games. Developers will submit investment proposals to the Metacade community, who will vote to decide which new games are best. The voting process winners will receive early-stage funding to help develop the new game.

Metacade is considered one of the best cryptos to invest in now because it directly drives blockchain technology’s expansion. The project is creating jobs for Web3 users and will also support innovators with the financial backing they need to develop new decentralized applications (dApps) and blockchain experiences.

Is MCADE worth buying?

The MCADE crypto presale has been highlighted to be one of the best cryptos to buy now and a great long-term hold for the future. With positive future price action on the horizon for the MCADE token, the crypto presale represents a rare opportunity to get involved in a leading project during its earliest investment stage.

The crypto presale launched the MCADE token at $0.008 – a value that will rise to $0.02 before the end of the event. This gives investors a limited time only to get involved in the crypto presale at the best possible price. 

You can participate in the Metacade presale here.

The post Metacade Crypto Presale – What You Need To Know Before You Invest appeared first on CoinJournal.

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Chainlink price analysis: LINK still looks primed for a 20%+ upswing

  • Chainlink (LINK) price outlook suggests bulls will eye $8.00 and then $9.50 if upside momentum holds.
  • The cryptocurrency has been in accumulation for more than 300 days.
  • A 20% breakout to the suggested highs last reached in November is possible for LINK/USD.

Chainlink (LINK) is changing hands around $7.40, up 7.3% at the time of writing.

It’s not a huge breakout for the 23rd ranked altcoin (by market cap), particularly given the mega swings seen today with Bitcoin hitting multi-month highs above $25,000 and Ethereum testing bearish resolve above $1,700 on Thursday.

LINK price – the bullish case

While the LINK price is facing rejection around $7.50 amid potential slowdown for bulls, a technical outlook for the oracle network’s native token suggests a run to $8 can still happen.

According to crypto analyst Ali, LINK could swing to the upper trendline of a rising channel as the coin has tended to bounce after reaching the support line. Note that this outlook is from a few days when Chainlink price rebounded from the parallel channel’s lower trendline to test resistance around $7.50.

Per the prediction Ali recently shared, LINK might continue with the pattern, which is key after today’s price action saw bulls test the aforementioned supply wall.

Another analyst, Inmortal, points to the fact that Chainlink has been in consolidation for more than 300 days. The accumulation could end with a violent breakout. 

Looking at the Chainlink price chart, a rally above $8.00 could open up a 22% upside path for LINK/USD to target the $9.50 reached on 8 November 2022. 

LINK price – the bearish scenario

As tailwinds could wane amid broader market slowdown, the ascending middle line currently provides the main resistance area.

A sell-off triggered by wider market uncertainty means bears can still target $6.75 and $6.00 remains a crucial buffer zone.

The post Chainlink price analysis: LINK still looks primed for a 20%+ upswing appeared first on CoinJournal.

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Bitcoin briefly touches $25.2k amid major bullish signal

  • Bitcoin reached highs of $25,230 across major exchanges, its highest price level in over six months.
  • BTC price moved above its 200-week moving average’
  • Analysts say bulls could target fresh gains as a bullish signal flashes.

Bitcoin broke above $25,000 as the momentum that pushed the flagship cryptocurrency higher on Wednesday continued into Thursday.

At around 11:15 am ET, the price of Bitcoin against the US dollar was up 10.7%, with BTC trading at $25,093 after briefly touching highs of $25,230 across major exchanges. Despite shedding some of the gains, BTC looks poised for further upside action should bulls successfully retest and hold prices above the critical $25,100 level.

Bitcoin price update: bulls eye new 2023 high

Today’s rally comes on the back of decent gains though, and crypto analyst Mohit Sorout earlier pointed to what he calls “the mother of all bullish signals.” Just before BTC hit the new year-to-date highs, the analyst wrote:

“The mother of all $btc bullish signals has flashed – DCA indicator. Historically, it has flashed only thrice in btc’s existence & each occurence led to massive rallies of 7400% (2015), 160% (2019) [and] 640% (2020). Today marks the 4th time this signal is suggesting a raging bullmarket.”

PlanB, the creator of the stock-to-flow price model, shared the chart below showing Bitcoin’s rally on Thursday came as BTC price broke above the 200-week moving average.

What could happen next for Bitcoin? Well, a retreat to support above $24k or lower to $22.5k is possible before a slow grind pushes it up again. But according to pseudonymous analyst Moustache, $28k is very much achievable.

BTC spike sees $230 million in liquidations

Bitcoin’s gains pushed its market capitalization to $526 billion, while a 7.9% jump in the total crypto market cap had the top altcoin Ethereum trading above $1,730 with double digit gains. Among the top ten cryptocurrencies, Polygon and OKB were also up more than 10%.

As prices rallied, traders who’d bet on broader declines were caught unawares, with over $230 in shorts liquidated. Liquidation data showed Bitcoin-tracked futures led with over $99.6 million in liquidations while Ethereum saw more than $64 million in liquidations in 24 hours.

The post Bitcoin briefly touches $25.2k amid major bullish signal appeared first on CoinJournal.