Crypto News Archive - Seite 1363 von 1899 - Finanzmittel Info + Krypto + Geld + Gold

16. November 2022

Is Solana facing a catastrophic breakout from an inside-bar pattern?

It’s an indecision moment as Solana trades at an oversold level of $13. The cryptocurrency has formed multiple pin bars at the level, indicating indecision in the market. A potential breakout to the downside could see SOL claim a single-digit price.

CoinMarketCap data shows that SOL has lost more than 25% in a week. The loss is among the highest among the cryptocurrencies in the top 100 bracket. Concerns that the Solana ecosystem has a huge exposure to the collapsed FTX and Alameda have been fueling the bear market. Alameda is believed to hold 50.5 million SOL worth $708 million. Amid the exposure, Solana founder Anatoly Yakovenko has maintained that the investment is unaffected.

SOL remains under the mercy of bears, who are increasingly active at the $13 price level. Here is the price outlook:

SOL is under pressure at $13 even as the price hits oversold levels

Technically, SOL is creating a support zone at $13. However, a likely bullish reversal looks unlikely as the token trades with weakening momentum. The formation of multiple inside bars at the crucial level suggests that buyers and sellers match the effort.

SOL/USD Chart by TradingView

Turning to the RSI shows that SOL is oversold. An attempted recovery has been muted, with a further slip of the RSI reading to 29. The MACD indicator underlines a weak and worsening momentum.

Which way is SOL?

An inside-bar pattern can break on either side. An upside breakout will confirm a bullish reversal for SOL. However, a quick sell-off for SOL could occur if the breakout occurs to the downside. In such a case, the SOL price could touch $10 or below.

With the weak sentiment, a bearish breakout carries a higher chance. Investors should be cautious about buying SOL at this level.

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The post Is Solana facing a catastrophic breakout from an inside-bar pattern? appeared first on CoinJournal.

16. November 2022

SBF, Alameda executives to testify on FTX collapse

Sam Bankman-Fried and several other executives will be asked to testify at an upcoming House Financial Services Committee hearing on the collapse of the FTX cryptocurrency exchange.

The exchange’s implosion has contributed to its native FTX token dumping by more than 90% in the past two weeks.

A CNBC report on Wednesday notes that House lawmakers want to see the FTX founder at Capitol Hill to give an account of what happened at the now bankrupt crypto exchange.

Alameda and Binance execs to also testify

Apart from SBF, lawmakers are also looking to have executives from Alameda Research and Binance among others testifying, the report added.

The bipartisan hearing, being put together by HFSC’s Chairwoman Maxime Waters (D-CA) and ranking Republican Rep. Patrick McHenry (R- NC), will be held in December.

Waters said in a statement that FTX’s collapse had “posed tremendous harm”, with over one million people affected. Many of these users, the US lawmaker noted, are just everyday people whose hard-earned savings have disappeared.

According to her, the fall of the FTX cryptocurrency exchange is unfortunately just one of many crypto platforms to implode in 2022. As CoinJournal reported earlier today, there’s more to come out of this FTX crisis.

In May this year, cryptocurrency Terra (LUNA) and its algorithmic stablecoin TerraUSD (UST) collapsed. Millions of people lost money as over $60 billion in market value flushed down the drain within days, while contagion hit multiple crypto companies, including Three Arrows Capital.

The fall of the Singapore-based crypto hedge fund then impacted several other companies, notable among them crypto lenders Celsius and Voyager Digital that went bankrupt.

Last week, FTX filed for Chapter 11 – with about 130 affiliates included in the filing.

The post SBF, Alameda executives to testify on FTX collapse appeared first on CoinJournal.

16. November 2022

Is it now the time to buy Shiba Inu?

As cryptocurrencies continue to whipsaw, Shiba Inu (SHIB/USD) has been in the trenches. With a drop of more than 6% in a week, the cryptocurrency now trades at $0.0000092. A dip-buyer could be interested in the price level. That considers that SHIB has been holding it since touching a low of $0.000008 for a week.

The main concern for SHIB and other cryptocurrencies has been a confidence crisis brought about by the collapse of FTX. The sentiment is so far bearish as most tokens are currently trading lower. Other than that, SHIB has been building on the meme token strengths and looked to have overcome resistance at $0.000012.

Aside from the negative sentiment, Shiba Inu continues to suffer from the lack of significant developments. Notable among these is the SHIB metaverse, which has stalled for a while. On November 16, however, the Shiba Inu team issued some positive updates. The team gave a first concept art reveal of what to expect once the metaverse becomes a reality. Although the update reawakens expectations of the key project, SHIB investors are yet to show optimism. The price of the meme token has remained muted.

SHIB price outlook amid a bear market

SHIB/USD Chart by TradingView

Technically, SHIB is under pressure despite buyers having defended $0.000008. The level does not coincide with a support zone, and the cryptocurrency will likely fall further.

The RSI reveals that SHIB is not yet oversold, although there are more sellers. The indicator shows a downside on SHIB. The meme token also trades below the moving averages.

SHIB prediction

Shiba Inu’s price could fall to the yearly lows of around $0.000007 if the current weak sentiment continues. The level coincides with support, meaning we will likely see a lower price. The cryptocurrency doesn’t present an attractive buy.

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The post Is it now the time to buy Shiba Inu? appeared first on CoinJournal.

16. November 2022

Bitcoin prediction as the token continues to stall. Is a lower price possible?

Bitcoin (BTC/USD) may have settled above $15,000, but the pressure is mounting. As of press time, the cryptocurrency was trading at $16,623, losing 1.32% on the day. BTC is also largely consolidating rather than making a directional move. A technical outlook shows a potential decline to the next low.

Bitcoin’s price action comes when data shows that BTC holders are withdrawing their holdings from crypto exchanges. According to Glassnode, there is over $1.75 billion per month of mass exodus of Bitcoin from exchanges. The withdrawals come after the collapse of the crypto exchange FTX.

Further, Glassnode data shows investors are flooding exchanges with dollar-pegged digital assets. More than $1.04 billion worth of stablecoins flowed into exchanges after the FTX fiasco. The rising suggests that investors are gearing up to buy the dip as most cryptocurrencies tanked.

An increase in stablecoins flowing to the exchanges preempts investors’ expectations. However, it does not indicate that we have hit the market bottom. From the BTC perspective, this is illustrated by increasing bear pressure for the cryptocurrency.

BTC analysis as price stalls below key level

BTC/USD Chart by TradingView

On the weekly chart outlook, BTC has a confirmed break below the $19,500 level. The MACD indicator shows the cryptocurrency is bearish. The momentum is also weakening further.

Will Bitcoin proceed lower?

The current BTC price level could fail to hold due to weak momentum. The price also trades at a non-support zone, meaning the cryptocurrency is yet to settle.

Based on the technical indicators, a lower price is possible for BTC. The next established support for BTC lies lower at $11,000. However, the level around $14,000 has shown price action before and could provide support for BTC.

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The post Bitcoin prediction as the token continues to stall. Is a lower price possible? appeared first on CoinJournal.

16. November 2022

Decentraland’s MANA may take longer to see a recovery. Here is the price outlook

Have you been looking to buy Decentraland’s (MANA/USD) this month? Unfortunately, a technical outlook shows the metaverse token is not ready yet. The token has claimed a new low in the year and looks increasingly bearish. At least, we expect a potential new low, and you would not want to chase the clouds for now. What is happening?

A prolonged crypto winter has dealt a blow to the once-booming metaverse sector. Consequently, MANA has lost 92% of its value since November 2021. The token now trades at the lowest value since June 2021, losing its post-boom surge in the process.

Perhaps it has become lonely there in the metaverse as crypto winter ravages. According to data released by DappRadar last month, metaverse platforms, including Decentraland, are struggling to retain users. The low development activity has been responsible for the price weakness. Investors may have to wait longer before we see another recovery for the token.

MANA technical outlook shows weakening momentum

MANA/USD Chart by TradingView

On the daily chart, MANA is on a clear downtrend. The key level at $0.8 was tested, allowing the cryptocurrency to proceed lower.

Technical indicators are also bearish. Since August, the 20-day MA has never recovered above the 50-day MA. The MACD indicator remains in the bear zone. The momentum is weak, and the bear pressure is rising further.

What next for MANA?

MANA is heading to a bottomless pit after hitting the June 2021 lows. Although the bulls can arrest a further decline below the level, there is no such indication yet.

We hold a bearish view until suitable support is found and MANA shows sufficient upside. A recovery above the $8 resistance would be ideal to consider a bullish view.

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The post Decentraland’s MANA may take longer to see a recovery. Here is the price outlook appeared first on CoinJournal.