Kategorie: Crypto News

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Bitcoin price: Analyst highlights next steps for BTC if this level turns into support

  • Crypto trader and analyst Rekt Capital says the 200-day EMA is a key level for bulls, currently around $47,000.

  • Data from CoinGecko shows Bitcoin reached a high of $45,300 on Tuesday before retreating sharply to the $43,400 area.

Bitcoin (BTC) has retreated from its intraday highs of $45,300 reached on Tuesday and is currently hugging the area at around $43,450. The bounce low has seen the momentum seen since the weekend look to slow down.

However, with sentiment bullish about the flagship cryptocurrency’s short-term price movement, crypto analyst Rekt Capital says another melt-up is likely.

He says the BTC/USD pair is eyeing a key level, which if reached and turned into support, would suggest the outlook from long-term investors has shifted positive. The optimism could be a catalyst for further buying, likely aiding bulls push for the elusive breakout to the psychologically important level at $50,000.

Here’s what the pseudonymous analyst noted as BTC price flirted with resistance around $45,300:

“BTC is slowly approaching the 200-day EMA (black) Flip the EMA into support and this will be an indication that long-term investor sentiment is shifting back to being bullish on Bitcoin.”

He shared the chart below, which shows Bitcoin’s recovery after last month’s rout and the potential for a breakout to $47,000.

Chart showing BTC rebound towards the 200 EMA. Source: Rekt Capital on Twitter.

This level represents the 200-day exponential moving average, which Rekt Capital highlights as one of the key indicators of long-term investor sentiment towards Bitcoin.

 “The black 200 EMA is a long-term gauge of investor sentiment towards BTC. The 200 EMA currently represents a price point of ~$47000,” he said.

While the analyst is optimistic on BTC/USD, he points to the chart and the 200 EMA versus current price levels to note that bulls might have to struggle a bit before flipping the line into support.

If Bitcoin price turns $43k into support and breaks above the supply zone above $45k, then it’s likely to continue higher with the highlighted range ($43,100-$51,900). 

Crypto analyst Scott Melker holds a similar view and says that the benchmark crypto has “tapped” the zone. He is positive about BTC/USD price above this level.

Bitcoin has also painted a similar recovery as that seen during the last correction (May-July 2021), by breaking higher from the lower Bollinger Band on the weekly log. The last time it happened, BTC rallied to its all-time high of $69k.

Bitcoin price is up more than 12% this past week.

The post Bitcoin price: Analyst highlights next steps for BTC if this level turns into support appeared first on Coin Journal.

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Ripple (XRP) price up 43% in seven days: here are the factors fuelling the current XRP uptrend

Ripple has shown impressive performance and it is among the top ten gainers over the past week. It has gone ahead to even flip giants like Solana and Cardano as it makes strides toward the top five cryptocurrencies in terms of market cap ranking.

Ripple (XRP) is currently trading at $0.8519 after registering a 9.05% today. It has a trading volume of $5.5 billion in the last 24 hours.

Reasons behind Ripple (XRP) price surge

Before delving into the reasons as to why the Ripple price is surging, it is important to first explain what Ripple is for those who may not be familiar with it.

In a nutshell, Ripple (XRP), commonly just referred to as XRP, is the native token of the RippleNet digital blockchain-based payment platform that was developed by a company called Ripple.

Now let’s can get into why the price of XRP is surging.

One of the reasons for the current uptrend in Ripple price is the overall performance of other cryptocurrencies as the crypto market tries to recover from the recent plunge. The overall crypto market cap has risen by more than $2 trillion over the past week with Ethereum and Bitcoin soaring above $3,100 and $44,000 respectively.

As a result of the rising crypto prices, investors have become more comfortable with cryptos.

Ripple vs. the US SEC court case

The other reason behind the current Ripple price surge is the ongoing Ripple vs. the US SEC court case that was filed in December 2020.

Recently, Judge Analisa Torres ordered the unsealing of the three documents in the case after layer John E Deaton said it would be difficult to correlate ripple’s price with Ripple’s announcement and also that prosecutor has to prove that XRP was sold in the US.

John said:

“It will be near impossible to prove any real correlation between #XRP’s price and public announcements by @Ripple (ie partnerships). The SEC must also prove Garlinghouse and Larsen sold #XRP in the USA.”

Analysts believe that the case might be concluded by April 2022 and any positive outcome in favor of the Ripple is likely to result in a huge XRP price surge given that the market is already seeing some positive movements in readiness for the case outcome.

The post Ripple (XRP) price up 43% in seven days: here are the factors fuelling the current XRP uptrend appeared first on Coin Journal.

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WOO is surging on news of a Binance listing: where to buy WOO before it’s too late

The live WOO Network price today is $0.77 with a 24-hour trading volume of almost $151.5 million. The token has gained 15.77% in the last 24 hours because Binance listed it today. Trading opened at 06:30 UTC. WOO withdrawals will open at 06:30 UTC on February 9.    

If you want to know more about Woo Network, if you should buy it now, and the top places to buy WOO today, you’ve come to the right place.     

Top places to buy WOO now

As WOO is such a new asset, it’s yet to be listed on major exchanges. You can still purchase WOO using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy WOO right now, follow these steps:

1. Buy ETH on a regulated exchange or broker, like eToro ›

We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.

2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask

You’ll need to create your wallet, grab your address, and send your coins there.

3. Connect your wallet to the Uniswap DEX

Head to Uniswap, and ‚connect‘ your wallet to it.

4. You can now swap your ETH for WOO

Now that you’re connected, you’ll be able to swap for 100s of coins including WOO.

What is WOO?

WOO Network is a deep liquidity network connecting traders, exchanges, institutions, and DeFi platforms with democratized access to the best-in-class liquidity and trading execution at lower or zero cost. The token is used in the network’s CeFi and DeFi products for staking and fee discounts.

The WOO ecosystem is comprised of WOO X, a zero-fee trading platform with fully customizable modules for workspace customization, and Wootrade, a gateway for institutional clients to upgrade their order books.

The network deploys WooFi Pools across select DeFi protocols and applications to provide users with enhanced on-chain liquidity and execution. It bridges off-chain tools such as hedging strategies, pricing oracles, and quantitative trading with on-chain liquidity to achieve this.

Should I buy WOO today?

Read at least several price predictions and explore the market before committing to an investment in WOO. Its price trajectory might change in another direction following the much-hyped listing.  

WOO price prediction

Wallet Investor considers WOO a moderately good investment. They predict it will trade for $1.07 in February 2027. This is up just over a third from the current price. If you invest $100 in WOO now, it may be up to $135 in 2027.    

WOO on social media

The post WOO is surging on news of a Binance listing: where to buy WOO before it’s too late appeared first on Coin Journal.

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The best cryptocurrencies to invest in with $1000

There is a lot you can do with $1000. But what if you could put it in a crypto asset and see it grow 10x, 50x, or even 100x. We have seen this happen in the crypto market so many times. But it all comes down to choosing the right coin. Here is a list of important considerations.

  • The coin you buy should be relatively new in the market but with decent underlying fundamentals.

  • But if it’s not new, focus on assets that have recently dipped in their price for a good return.

  • These also need to be tokens that still have lower market caps so there is room for growth.

Well, in case you have $1000 to invest, the following crypto-assets should offer decent returns in the long run.

Dogecoin (DOGE)

One thing we know about meme coins is that they can be wild. Although this makes them risky, it also means that the potential to make decent returns is very high. 

Data Source: Tradingview 

Right now, most meme coins, including DOGE, have bottomed and as such, you can buy the dips and ride the upward recovery. At the time of writing, DOGE was trading at $0.1584.

Hex (HEX)

Hex (HEX) is an ERC20 token designed to act as a store of value for people who want to invest in crypto. During periods of market volatility and uncertainty, these types of coins can be quite invaluable. What makes HEX such a great option is the fact that it has a market cap of around $37 million. This means that it can actually moon in no time.

Osmosis (OSMO)

Osmosis (OSMO) is a peer-to-peer network built on Cosmos. It is designed to allow users to exchange IBC enabled tokens and provide liquidity for on-chain and off-chain transactions. At press time, its native token OSMO was trading at around $9.13 with a market cap of $2.6 billion.

The post The best cryptocurrencies to invest in with $1000 appeared first on Coin Journal.

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The best DApps to watch on the Tron Network

The Tron (TRX) network is by far one of the most exciting blockchains in the world right now.  The project hopes to build the infrastructure needed for a truly decentralized internet. In recent years, Tron has also been attracting its fair share on new DApps. Here is why:

  • Tron offers high scalability options that allow new apps to be developed and deployed faster.

  • It also has a more reliable network structure for guaranteed uptime and reliability

  • The network is also partnering with several major names in crypto and in tech as well.

Data Source: Tradingview 

For investors who are keen on investing around the Tron ecosystem, then the following DApps should be a good start:

JustLend

JustLend is a DeFi project designed to offer peer-to-peer lending and borrowing. Built on the Tron ecosystem, the app connects potential borrowers with lenders through a peer-to-peer system. 

It is one of the most notable DeFi apps on Tron and in the world. The app allows users to set their own interest rates, repayment terms, and so much more. It can also let people launch fund drives and campaigns as well.

SunSwap

SunSwap is a decentralised exchange protocol that allows users to swap crypto assets in a non-custodial manner. It is the main exchange platform on Tron, and at the time of writing, it had around $32 million in 24-hour trading volume. SunSwap allows users to connect their crypto wallet directly and buy or sell these assets from peer to peer.

Cukies world

Cukies world is a play-to-earn game that allows users to earn and trade NFTs. It is in fact the only blockchain-based game on the Tron network with over 12,000 NFTs up for grabs. Although the game is fairly recent, it has managed to attract a lot of users in recent weeks. It has the potential to rival such similar games as Axie Infinity and others.

The post The best DApps to watch on the Tron Network appeared first on Coin Journal.