Crypto News Archive - Seite 1646 von 1893 - Finanzmittel Info + Krypto + Geld + Gold

11. Mai 2022

Polygon (MATIC) aims to reclaim $1 after a steep correction

Polygon (MATIC) has started to show signs of recovery after a steep correction over the last week or so. The decline in price is part of a broader slump in the wider market, but MATIC appears to be consolidating for its next leg up. Here are the main facts:

MATIC has managed to hold the $0.8 support despite massive selling pressure.
The coin can reclaim the important psychological price of $1 in the days ahead.
This could trigger a bullish uptrend that could deliver at least 25% in gains.

Data Source: Tradingview

Polygon (MATIC) – price prediction

After hitting a new 2022 high of $1.73, MATIC has lost a lot of its upward momentum. The coin has tumbled over the last two weeks, losing several key supports in the process. The biggest worry for bulls though came after the token fell below the crucial psychological price of $1.

But despite this selling pressure, MATIC appears to have found strong support at $0.8. The coin has held this level even as the broader market sells off. This is a good sign, in fact, we are seeing some consolidation around $0.8 right now. If this continues, MATIC is likely going to reclaim the $1 price.

After that, bulls may take over and push the price action higher by at least 25% from the $1 price. Besides, momentum indicators, including the RSI show a bullish divergence that could push the price further upwards.

How to take advantage of this setup?

MATIC has already dipped massively from its 2022 highs. If you ever wanted to own this altcoin, this is the cheapest it has been for a while. It’s therefore a good time to buy, especially for long-term investors.

As for the short-term play, a good approach would be to wait for the altcoin to reclaim $1. Once this happens, you can buy in and exit at around $1.3.

The post Polygon (MATIC) aims to reclaim $1 after a steep correction appeared first on Coin Journal.

11. Mai 2022

Shiba Inu (SHIB) could surge by 35% despite bearish sentiment in the market

Shiba Inu (SHIB) has been recovering from the massive sell-off in crypto over the last few days. The coin looks like it has some significant upside and could outperform other major coins on its road to recovery. More price analysis to come later but first, key developments:

SHIB has gained around 3% over the last 24 hours, outperforming most major coins
The meme coin had lost nearly 40% of its value over the last 7 days alone
But a quick reversal that pushes SHIB up by at least 35% is plausible

Data Source: Tradingview

Shiba Inu (SHIB) – Why bulls are confident

The beginning of May has not been good for crypto. The market has generally dropped, and SHIB was not spared. The coin lost around 40% of its value in the last 7 days. However, there is a good opportunity for a quick rebound and a trend reversal that could push the price higher.

In fact, this will not be the first time this has happened. After dropping to $0.0000135 at the start of May, SHIB recovered very fast. The trend reversed in less than 12 hours, where SHIB gained around 30%. In the process, a swing high of $0.0000179 was set.

Ever since the meme coin has established a range of between $0.0000135 and $0.0000179. At the moment, SHIB is at the upper side of that range at $0.00001591. We expect SHIB to surge even further in the coming days.

Can SHIB reclaim its all-time highs this year?

The volatility we have seen in the broader crypto market has been very persistent. Every time the market recovers, we end up seeing another sell-off shortly after. It is therefore unlikely that SHIB will regain its all-time highs this year.

But this does not change the positive outlook for the meme coin. There is still an opportunity for relatively better gains before 2022 is out.

The post Shiba Inu (SHIB) could surge by 35% despite bearish sentiment in the market appeared first on Coin Journal.

11. Mai 2022

Avalanche (AVAX) down 35% amid fears of massive AVAX sell-off after UST meltdown

Avalanche (AVAX) price seems to be heading the same way as Terra (LUNA) mainly because it is one of the collateral assets that maintain TerraUSD (UST), Terra’s new stablecoin; the other collateral asset is the US Dollar which the UST has unpegged from.

After the UST unpegged from the US Dollar, its price became unstable and it is currently on the decline prompting the Luna Foundation Guard (LFG), a Singapore-based non-profit backed by TerraLabs, to empty its crypto reserve to support the stablecoin back to its $1. This places AVAX in a precarious situation with fears of a massive sell-off since it is one of the main backers of UST.

Today, AVAX’s price has experienced a massive drop after dropping by more than 35%.

At the time of writing, AVAX was trading at $31.39, down 36.28% after retracing from a daily high of $50.09. This drop coincides with that of UST which has shed more than 86%.

It is important to note that the UST’s US Dollar de-pegging happened despite LFG’s effort to try to empty its crypto reserve to support the UST peg. Currently, the LFG has 1.97 million AVAX worth about $74.75 million.

Avalanche bulls’ effort to support the AVAX token

Avalanche bulls have been trying their best to stop the token from dropping below the key support line near $36 but their effort only helped the token to recover about 22% of today’s loss with its price bouncing back from $32.50 to over $39.50 before retracing back again to $31.39 at the time of writing.

Although the token is aimed at regaining a bullish trend, it’s still facing headwinds from the high-interest rate environment which has diminished buying sentiment in the crypto market.

This could lead to AVAX/USD pair retesting $36 as the support for the breakdown move, which can lead to price risk of $20.

The post Avalanche (AVAX) down 35% amid fears of massive AVAX sell-off after UST meltdown appeared first on Coin Journal.

11. Mai 2022

Galaxy Digital announces 10% public float repurchase program

Galaxy Digital Holdings Ltd. has announced plans to repurchase roughly 10.6 million ordinary shares, comprising 10% of the company’s public float.

The financial services and digital assets firm said this in a press release on Wednesday.

Per the firm, whose shares are publicly traded on the Toronto Stock Exchange (TSX), the buyback plans have received the backing of the Board of Directors. The purchase notice will now be forwarded to the TSX.

The purchase program will run for the next one year or terminate earlier if the company reaches the targeted shares. Galaxy Digital has not conducted any repurchases of ordinary shares in the past twelve months, the company said in the press release.

On Monday, the crypto-focused firm announced its first-quarter 2022 earnings results, showing a net loss of $111.7 million. The company attributed the loss to the drawdown in the crypto market and in related investments. In the same quarter a year ago, Galaxy Digital made an $858.2 million profit.

On Tuesday, the GLXY price closed at CA$10.52.

The post Galaxy Digital announces 10% public float repurchase program appeared first on Coin Journal.

11. Mai 2022

FLOW is down by 5% despite announcing a $725M ecosystem fund

The cryptocurrency market has continued its poor start to the week, losing more than 6% of its value in the last 24 hours.

The crypto market has been performing poorly since the start of the week. The market has lost nearly 7% of its value in the last 24 hours, and the total market cap now stands above the $1.3 trillion mark.

The market has lost over $100 billion over the past few hours, with LUNA’s poor performance affecting the broader crypto market.

Bitcoin is down by more than 4% over the past 24 hours and is struggling to maintain its price above the $30k level. Ether has dropped to the $2,300 region after losing more than 3.5% of its value in the last few hours.

FLOW, the native token of the Flow ecosystem, is down by more than 5% over the past few hours. The poor performance comes despite the Flow team announcing the launch of its $725 million ecosystem fund.

In a blog post on Monday, Flow said the Ecosystem Fund would support existing and future developers in building applications on the Flow blockchain. The developers will gain investments, FLOW token grants and in-kind support from the team.

Key levels to watch

The FLOW/USD 4-hour chart is bearish over the past few hours as the market continues to underperform. Despite the positive news, FLOW could record further losses in the coming hours.

The MACD line is beyond the neutral zone as the bearish sentiment in the market thickens. The 14-day relative strength index of 33 shows that FLOW is currently oversold.

At press time, FLOW is trading at $3.49 per coin. If the bearish trend continues, FLOW could drop below the first major support level at $3.10 before the end of the day.

In the event of extended negative performance, FLOW could trade below $3 for the first time this year.

The post FLOW is down by 5% despite announcing a $725M ecosystem fund appeared first on Coin Journal.