Crypto News Archive - Seite 1349 von 1899 - Finanzmittel Info + Krypto + Geld + Gold

28. November 2022

Cardano hits a new milestone, but where are the buyers?

Cardano native token lost 3% in 24 hours.
Cardano hit the highest level of assets minted on the blockchain.
ADA remains on a downtrend and could find lower levels.

The number of assets minted on the Cardano (ADA/USD) blockchain has hit a new milestone of 7,055,456. The increase in the native assets comes after the Vasil hard fork in September. It shows the impact the upgrade has played on attracting users to the Cardano blockchain.

Further statistics show that as of November 25, the number of projects building on Cardano was 1,146. According to Cardano Weekly Report, there were over 55.3 million transactions on the blockchain as of the date. In summary, there are 106 projects launched on the blockchain and 3,759 Plutus scripts.

However, the increase in activity on Cardano has not been reflected in the price. As of press time, ADA was trading down 3% in the last 24 hours. A technical outlook shows that ADA is on a sustained downtrend.

ADA on a downtrend amid increased on-chain activity

ADA/USD Chart by TradingView

Technically, ADA is bearish. The cryptocurrency trades near its lowest level on a descending channel.

Momentum is weak for ADA, with the MACD indicator remaining below the neutral zone. The RSI is near the oversold level, with a reading of 35.

Is the bottom near for ADA?

There is no clear bottom price for ADA. Although activity is building on the blockchain, investors are still cautious of the native token as the bear market ravages.

For a potential bullish reversal, ADA buyers must counter the bearish channel. The key level to watch for a bullish reversal is $0.42. This is the established resistance where the ADA price formed multiple bottoms before crashing lower.

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The post Cardano hits a new milestone, but where are the buyers? appeared first on CoinJournal.

28. November 2022

Litecoin prediction as price corrects above a breakout zone

Litecoin has corrected 6% after a bullish week
Crypto analyst Peter Brandt thinks LTC printed a bullish pattern
The cryptocurrency remains bullish and could embark on an uptrend after the correction.

Litecoin (LTC/USD) has been gaining strength in the last one week. As CoinJournal reported, the recovery could be contributed by the next Litecoin halving event. The gains saw it initiate a breakout that has been pushing prices higher. However, the price of LTC is correcting, with an intraday loss of 6%. Will the downturn continue?

Veteran crypto trader Peter Brandt believes LTC has initiated a classic charting pattern for an upside. According to the analyst, the appearance of a bullish double pattern followed by an uptrend is a major trend change signal. Brandt says LTC completed the same pattern in November before embarking on a rally that returned 65%.

Brandt further explains why the double bottom for LTC is a classic one. He says, often, traders tend to mislabel double bottoms. In his view, double bottoms need months between lows. He says the depth of the pattern should be more than 20% of the price of the market.

LTC corrects slightly after a bullish breakout

LTC/USD Chart by TradingView

A technical outlook shows that LTC buyers are still in control despite the price slowing from the $80 level. The daily chart shows a short-term bullish trendline has developed since the double bottom at $50.

The MACD indicator is bullish. The RSI has slowed slightly since the cryptocurrency hit overbought levels as the price reached $80. The bulls are still in control as the RSI remains above the midpoint.

What next for LTC?

Litecoin price is in a correction phase rather than a bearish movement. $64 will remain the reference support should LTC continue to correct downsides. However, the area around $70 should also form a crucial bullish reversal zone.

LTC price target remains at $95 in the medium term. This is the established resistance zone. Investors can hold or buy LTC to the level as long as the bullish momentum remains.

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The post Litecoin prediction as price corrects above a breakout zone appeared first on CoinJournal.

28. November 2022

What crypto analyst Benjamin Cowen thinks of BTC before a reversal occurs

Bitcoin could undergo another Capitulation event around Christmas – Cowen
The cryptocurrency is consolidating but lacks an upside momentum
BTC price could break into upside or downside

When will Bitcoin price (BTC/USD) bottom-up after slipping below the crucial $19,000 level? Crypto analyst Benjamin Cowen believes Bitcoin has to undergo one capitulation event before a price reversal. Cowen examines the historical patterns to explain when this is likely to occur.

Cowen points out that the final capitulation event will occur around Christmas this year. A capitulation event occurs when a sizable portion of investors succumb to bear pressure and sell their holdings. Capitulation events are characterised by unusually high trading volumes coinciding with sharp price falls. When the price reaches its lowest point, it signals a market bottom that ushers in a bullish move.

Relating to the historical patterns, Cowen says that Bitcoin bear markets last around a year. In 2014, he says, the bear markets lasted 14 months, while in 2018, it was 12 months. Thus, if the current one is to reflect historical patterns, the dates around December 25th, 26th, and 27th, could be.

Bitcoin has been very choppy heading to this important prediction at year-end. Cowen thinks that $15,000 is the balanced price for Bitcoin. The analyst says that the cryptocurrency has to fall below this level to hit bottom. That will prompt attempts to recapture the fair value.

BTC outlook as price consolidates at $16,000

BTC/USD Chart by TradingView

On the daily chart, Bitcoin is choppy and consolidates around $16,000. The MACD indicator is in the bearish zone. The RSI remains below the midpoint, indicating that the sellers are in control.

What next for BTC?

Bitcoin lacks a directional bias. Although bulls have continually defended $16,000 successfully, they are unable to take the price higher. That’s despite the recent Fed statement indicating slower rate increases.

With the current choppy trading pattern, Bitcoin can go either way. Just as Cowen predicted, BTC could claim a new bottom. For that to happen, the price must break below the $16,000 support zone.

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The post What crypto analyst Benjamin Cowen thinks of BTC before a reversal occurs appeared first on CoinJournal.

28. November 2022

Has ApeCoin turned bullish after weekly 25% gains?

ApeCoin token has registered 25% gains in the past one week
Bored Ape NFTs continue to attract high prices amid a prolonged crypto winter
APE could stay bullish up to the 50-day MA or descending trendline

With gains of 25% in a week, ApeCoin (APE/USD) is among the top 3 return cryptocurrencies in the #50 rank. The gains come after APE reached a new low of $2.7. The last low for the cryptocurrency was $3.0 in June. APE has now overcome the bottom and was trading at $3.8 as of press time.

No significant news is influencing APE price, but potential optimism could be crawling back. According to the latest developments, Bored Ape NFTs are in demand. On November 23, an NFT from the Bored Ape Yacht Club collection sold for $950,000 or 800 ETH. The same was made to an NFT collector Keungz, who has multiple of them from Yuga Labs. Another sale between two unidentified wallets was made for nearly $940,000 or 780 ETH. Both sales were made above the current floor price amid a prolonged crypto winter that has hit NFTs.

Meanwhile, the ApeCoin community DAO has launched its own marketplace for the ecosystem NFTs. The marketplace was launched on November 24. It will support the transactions from BAYC collections, Mutant Ape, Bored Ape, and Otherdeed. These developments could attract attention to the APE token.

APE on a short-term price appreciation

APE/USD Chart by TradingView

A technical outlook shows APE has initiated a short-term recovery. The MACD indicator has shifted above the neutral zone and shows that momentum is improving for APE. The cryptocurrency has recovered above the 20-day moving average.

However, APE trades below a long-term descending trendline. Also, in the last two previous bullish attempts, APE has been rejected at the 50-day MA. The token now trades near the key moving average.

What next for APE?

APE price will continue to rise in the short term as momentum remains in place. However, longer-term recoveries will be determined by whether bulls will push the price above the 50-day MA and descending trendline.

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The post Has ApeCoin turned bullish after weekly 25% gains? appeared first on CoinJournal.

28. November 2022

Ethereum price prediction as crypto risks continue

Ethereum price pulled back on Monday.
DeFi, gaming, and NFTs activity have dropped sharply.
It also dropped because of the ongoing China protests.

Ethereum price came under intense pressure on Monday as global risks pushed asset prices lower. ETH/USD plunged to 1,170, which was the lowest level since November 23rd. It is a few points above this month’s low of 1,075. Other coins like BTC, XRP, MOB, COCOS, and FLUX also plunged.

FTX crisis continues

ETH price has been in a downward spiral in the past few days as concerns about the FTX crash. You can read more about the crisis here. Since the collapse, the fear of contagion has pushed most cryptocurrency prices lower.

The crisis continued during the weekend. In the United States, regulators are asking questions about Genesis, a leading player in the crypto lending business. The company is notable since it is owned by Digital Currency Group, one of the biggest crypto conglomerates in the world. DCG has already hired restructuring advisors as it faces significant going concern risks.

Meanwhile, according to the Financial Times, most audit companies are treating crypto clients as high-risk. As such, they are treating them to more invasive audits as the industry remains on the brisk.

Ethereum price has been in a downward trend as key industries like DeFi and NFT come under pressure. Its total value locked (TVL) in the DeFi industry has dropped from over $150 billion to about $38.3 billion.

Further, data shows that the volume of Ethereum NFTs has been in a downward trend. In November, the number of unique buyers dropped to 151,352 from 172,284. The total volume of Ethereum NFTs has dropped from an all-time high of $3.99 billion in January to $364 billion in November.

Other key sectors in Ethereum’s ecosystem like gaming and payments have seen their volume and activity decline sharply.

Ethereum price also crashed as investors reacted to the ongoing protests in China. These protests have led most stocks and commodities to plummet.

Ethereum price forecast

ETH/USD chart by TradingView

So, is it safe to buy Ethereum dip? The four-hour chart shows that the ETH price has been in a strong bearish trend in the past few days. It has moved below the descending trendline shown in yellow. The coin has also moved below the 25-day moving average while the Relative Strength Index (RSI) has been falling.

The coin will likely continue falling as sellers target the lower side of the triangle pattern at $1,100. A move above the resistance point at $1,200 will invalidate the bearish view.

The post Ethereum price prediction as crypto risks continue appeared first on CoinJournal.