Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
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Dogecoin confirms a golden cross. Is a bullish rally coming?

  • Dogecoin has been rising in anticipation of integration into Twitter payments

  • Dogecoin has initiated a bullish golden cross

  • The cryptocurrency is on a correction but maintains a bullish momentum

Dogecoin (DOGE/USD) has sent another bullish signal – a golden cross. A golden cross occurs when the shorter-term 50-day moving averages approaches and crosses above the 200-day MA. The golden cross is interpreted as a crucial bullish signal.

A golden cross on DOGE happened after the meme cryptocurrency saw increased investor interest. Speculations continue to grow over the acceptance of Dogecoin as a payment token for Twitter. IO Global CEO co-founder Charles Hoskinson shared views regarding the hotly contested topic. Hoskinson says that Elon Musk could use DOGE for payments on Twitter, bringing an additional 200 million people to cryptocurrencies.

Hoskinson says the participation of Binance in Twitter’s acquisition is a move to support crypto integration. The IOG CEO expects BNB to be the other cryptocurrency that could benefit from the crypto use on Musk-owned Twitter.

DOGE corrects after a short-term price appreciation

DOGE/USD Chart by TradingView

On the daily chart outlook, the 50-day MA moved above the 200-day MA (golden cross). It is the first time since October 2021 that the 50-day MA has moved above the 200-day MA. The golden cross could be a strong bullish indicator for DOGE.

DOGE is also on a slight correction after a breakout at $0.09 took the price of the cryptocurrency to $0.11. The MACD indicator has turned bullish and shifted above the neutral zone. Momentum has weakened slightly but remains strong.

When to buy Dogecoin?

The technical outlook and indicators are bullish on Dogecoin price. However, the current correction could continue in the short term. For buyers, $0.09 is the level to watch for a potential bullish reversal and potential buy zone for DOGE.

In the bullish scenario, buyers will target the level around $0.14 next. Further increases in price will depend on the prevailing crypto sentiment and Dogecoin’s own fundamentals. Other resistances lie at $0.15 and $0.17.

Where to buy DOGE

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy DOGE with eToro today

The post Dogecoin confirms a golden cross. Is a bullish rally coming? appeared first on CoinJournal.

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GMX benefits from FTX collapse and breaks from consolidation. Should you buy it?

  • GMX token has more than doubled in price

  • The DEX has witnessed increased activity in November

  • GMX broke from consolidation and is a buy on a retracement

GMX token (GMX/USD) has doubled in price. Trading at just $25 on November 10, the cryptocurrency touched a high of $59 on December 2. The gains come amid an influx of investors post-FTX collapse. As of press time, GMX was trading at $56.

The collapse of the FTX exchange fueled demand for decentralised exchanges or DEX. Among the DEXs that became popular were GMX and Uniswap. Both platforms saw increased investors’ interest, fueling gains in the native tokens. Yet, on November 28, GMX saw $1.15 million in daily trading fees. The fees surpassed those earned by Uniswap for the first time in history. That underlined that investors look at the lesser-known DEX as a serious rival to Uniswap.

Market analyst Zen commented on the recent performance of GMX compared to Uniswap. The market analyst says GMX’s performance stems from investors receiving favourable trading fees of about 30%. Users on Uniswap do not get shares from the protocol’s trading fees. Zen says that GMX is a buy-and-hold in the bear market. He also lauds the platform as being the second-highest platform consistently after Uniswap.

GMX technical outlook as price aims for the stars

GMX/USD Chart by TradingView

Technically, GMX broke above a resistance at $49. The cryptocurrency has also been trading on an ascending channel, now invalidated as the price broke out on the upper band.

An RSI reading of 70 suggests that GMX is entering overbought levels. The cryptocurrency is also facing minor resistance, and a correction could occur before the next bull leg.

When to buy GMX?

A breakout at the crucial resistance and strong fundamentals supports buying GMX. However, from the price action and indicators, GMX could be due for a correction. 

A potential price retracement towards $49 is on the horizon. Investors should take advantage of a correction and buy lower. 

Where to buy GMX

The post GMX benefits from FTX collapse and breaks from consolidation. Should you buy it? appeared first on CoinJournal.

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XRP eyes a breakout as lawyer makes a prediction on Ripple case with SEC

  • Crypto lawyer expects a sweeping ruling in Ripple case with SEC

  • XRP has met resistance at $0.40

  • The cryptocurrency is bullish but needs a breakout for further gains

Ripple (XRP/USD) has been trading on short-term bullish momentum but within a tight range. That has seen the cryptocurrency hit resistance at $0.40, a level it has held for a few days. From there, it’s just one more bullish trigger, and XRP will break out. There are developments worth noting that could cause such price action.

As you already know, Ripple’s case with the US Securities and Exchange Commission is entering a crucial stage. CoinJournal reported that lawyers expect the case to be settled very soon. Another crypto legal expert has thrown his views on the case. 

Attorney James K. Filan expects the US District court to make a sweeping ruling in a summary judgement. He believes there won’t be separate rulings on the sealing issues, including the Hinman materials. Filan says this is the standard practice from the previous rulings, including a case that involved Goldman Sachs. If the prediction turns out to be accurate, we could see the case settled early on, as speculated.

Meanwhile, the latest Coinbase cryptocurrency news has raised fresh speculations. Coinbase says it will remove some crypto assets, including XRP, from its wallet beginning in January. The US crypto exchange cites low activity of the tokens. The development has made the crypto community speculate that the case with SEC will be delayed or Ripple will be defeated. But how is XRP behaving?

XRP corrects slightly at key resistance

XRP/USD Chart by TradingView

An intraday loss of 2% allows bears to push XRP back to the ascending trendline. The RSI has fallen below the midpoint on the entry of sellers. However, the momentum is still bullish for XRP at the key resistance.

Should you buy XRP?

Most of the expectations about Ripple’s case with the SEC are speculation. However, it is a truth that the case is taking an important twist that will be watched in December. Bulls should stay alert at the $0.40 level, as a potential breakout could occur on positive developments.

Where to buy XRP

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy XRP with eToro today

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy XRP with OKX today

The post XRP eyes a breakout as lawyer makes a prediction on Ripple case with SEC appeared first on CoinJournal.

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Jasmy token attempts breakout at 50-day MA. Should you buy it now?

  • JasmyCoin has recovered by double digits in a week

  • The token has hit a descending trendline 

  • JASMY could correct in line with the longer-term bearish momentum

JasmyCoin (JASMY/USD) saw rising trading volumes on Friday amid a mixed cryptocurrencies trading. The token, ranked lowly at #543 on CoinMarketCap, has witnessed a 13% surge in the past week. The weekly gains now take bulls to an important level that would determine if investors will see further gains.

JASMY is the native token of the Internet of Things’ Tokyo-based firm Jasmy Corporation. The company enables the buying and selling of data by connecting service providers and users. From the decentralisation perspective, the Jasmy platform allows users complete control of their personal information. This is enabled by enabling IoT through blockchain technology. In short, Jasmy aims to provide a platform where users can freely, easily, and safely move data. 

JASMY saw increased interest in 2021 at the height of the crypto boom. It has since crashed and trades at just $0.004. The price compares to a high of $0.35 in November 2021 – a significantly depressed price level. With the renewed gains, how far can this token go?

JASMY meets resistance at the descending trendline

JASMY Chart by TradingView

The technical outlook shows that JASMY has met resistance at the descending trendline and 50-day MA. Since August, JASMY has always been rejected at the descending trendline. Although bulls are attempting a break above the 50-day MA, they are under bear pressure. 

The MACD indicator shows improving momentum for JASMY. Nonetheless, we see that the token has always corrected anytime the MACD has approached the neutral level since August.

What next for JASMY?

The bear momentum is in place for JasmyCoin despite the weekly recoveries. To buy the cryptocurrency, wait for the price to break above the descending trendline or the 50-day MA. 

The bullish expectation could be invalidated if the past price action of the cryptocurrency repeats itself. Bulls should keep off for now until the cryptocurrencies sentiment improves.

Where to buy JASMY

Coinbase

Coinbase is a global cryptocurrency exchange. Its platform is well designed for beginner investors and it offers a wide range of coins, as it has over 100 to choose from. Coinbase has high level security built into the platform, a range of diverse features to use and it offers its users options for storing their crypto, such as being able to store coins on the Coinbase exchange.

Buy JASMY with Coinbase today

KuCoin

Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies. Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods. Users can benefit from a beginner-friendly interface and relatively low fees.

Buy JASMY with KuCoin today

The post Jasmy token attempts breakout at 50-day MA. Should you buy it now? appeared first on CoinJournal.