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Decentraland (MANA) bears push price action below crucial support

The February crypto boom was kinder to most metaverse tokens, and Decentraland (MANA) was not any different. After the initial slump in January, the coin had rebounded and started to show signs of promise. But things have taken a turn in recent days:

  • MANA at one point tested the highs of $4 during the February run.

  • The coin has since fallen sharply ever since, trading at $2.66 at the moment.

  • MANA has also fallen past a crucial support zone of $2.7.

Data Source: Tradingview 

Decentraland (MANA) – where does it move next

There was a lot of bullish commentary on Decentraland (MANA) in recent days. In fact, despite showing some weakness, there was real hope that the metaverse token would in fact bounce back. Some analysts even saw the coin retesting $4, although it had fallen below $3. 

But there was one caveat in all this. The bullish thesis would only hold if MANA was able to keep the price action above the crucial support zone of $2.7. This did not happen. At the time of writing this post, MANA was trading at around $2.66. 

So, what happens next? Well, it is important to note that the coin has not slid far away from $2.7 and could still bounce back. The key will be to watch the week’s close. If it doesn’t pull up, then we may see the coin retreat towards its next support level of $2.5.

Why could Decentraland (MANA) be a good asset now?

With all the talk about the metaverse, we haven’t really seen a lot of huge projects come out in recent months. There are of course many upcoming metaverse projects. 

But even with that, the fact still remains that Decentraland (MANA) is by far one of the largest coins in this category right now. There is real potential for significant future growth in the near and long term.

The post Decentraland (MANA) bears push price action below crucial support appeared first on Coin Journal.

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Bitcoin slips below $40000 as the bloodbath in the crypto market shows no signs of abating

At the start of the month in February, we saw significant bullish momentum in Bitcoin (BTC). After hitting lows of nearly $32000 in January, BTC rebounded sharply in February and was even at one point hoping to reclaim $50,000. But things have fallen by the wayside in recent days. Here are some highlights.

  • Bitcoin (BTC) slipped below $40,000 in a broader bloodbath in the market.

  • The bearish trend has somewhat continued with BTC now trading at $38,000.

  • The decline has largely been triggered by tensions in Eastern Europe.

Data Source: Tradingview 

Bitcoin (BTC) – How far can bears go?

There have been several stark warnings about the future prospects of Bitcoin (BTC) and the crypto market in general. With expected Fed policy tightening this year, increased inflation, and the threat of war in Europe, there seems to be a lot of market volatility right now. 

Also, the CEO of Huobi, one of the largest exchanges in the world, has come out and said that we may not see a Bitcoin bull run until 2024. 

$40,000 was seen by many analysts as key support for BTC. Besides, the coin had experienced a period of sustained bullish gains. It was only a matter of time before a pullback came. It is likely that BTC will fall further. In fact, there are fears that the large-cap coin could hit $30,000 before it rises again.

Is it the right time to buy Bitcoin (BTC)

There has been a lot of pressure on Bitcoin in recent months. Increased inflation, the threat of regulation, and now simmering tensions in Europe are all working together to keep the coin down. 

Although Bitcoin has been cheaper than this before, it’s still a perfect entry point for long-term investors. It is suggested that you wait a bit longer. BTC could still fall further, giving investors the chance to buy cheaply.

The post Bitcoin slips below $40000 as the bloodbath in the crypto market shows no signs of abating appeared first on Coin Journal.

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Basic Attention Token (BAT) price prediction & why it continues to decline

BAT Token with buy & sell dice behind it

It is safe to say that Basic Attention Token (BAT) has been nose-diving for the best part of three months now. In fact, the general trend on this coin which is associated with the Brave Browser has been downwards. Sadly, the signs show that this bearish move will remain for longer. Here are some highlights:

  • BAT is trading 60% lower from its all-time highs in November.
  • The coin was trading at $0.71 at press time, virtually the same compared to a day ago.
  • BAT also remains lower from its 50- and 200-day moving averages.

Data Source: Tradingview 

Basic Attention Token (BAT) – Why the bearish trend will remain?

There are both technical and fundamental factors that make BAT bearish at the moment. Starting with the fundamentals, it is clear that overall sentiment in the crypto market has slowed.

After a surge at the start of the month, most investors are holding back their capital as they watch events in Eastern Europe and tightening monetary policy in the United States. As for technical factors, the price action for BAT has generally moved downwards.

In fact, after hitting all-time highs in November 2021, the coin has lost nearly 60% of the market cap. It is also trading way lower compared to both its 200- and 50-day simple moving average. Also, a look at the Relative Strength Index suggests that BAT is yet to reach the “Oversold” threshold. As such, more weakness could still come.

Can investors buy Basic Attention Token (BAT) now?

The answer is yes. In general, the dip offers probably the most decent chance to enter into BAT. However, since it is projected that the token could in fact fall even further, you can still be patient. Watch for $0.5 in the coming days. That should be a good entry point for the long- and short-term investments.

The post Basic Attention Token (BAT) price prediction & why it continues to decline appeared first on Coin Journal.

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Feb 22 highlights: Cryptos plummet, prospect of war causes European market selloff

The major cryptos were affected by the developing news on the Russia-Ukrainian border. European shares dropped sharply yesterday as the prospect of war between Russia and Ukraine became more real.

Every single company on the EUSTX50 (-2.62%), an index of the 50 largest eurozone companies, finished in the red yesterday.

Top cryptos

Avalanche and Cardano plummeted more than 14%, XRP was down more than 13%, Solana fell 12%, BNB slid 9%, and Ethereum 8%. 

Bitcoin was trading below $37,000 at time of writing, down more than 6% over the past 24 hours. Cosmos fell out of the top 20.

Top movers

It was almost all gloom and doom in the top 100 as well. It has been a decidedly bad day for metaverse tokens. Decentraland lost almost 13%, Fantom, Stacks, Neo and Oasis Network dropped 14%, and Axie Infinity shed 12% of its value.

Tezos and Gala also declined by 14%. Harmony and Quant each lost 16%, reversing recent gains. The biggest loser in the top 100 was Theta Fuel with -19%, almost a fifth of its value.   

The only crypto in the green today was Anchor Protocol, up 5% at the time of writing.

Trending

OBROK is the native token of OBRok Project, a team working on space and aeronautical sciences. They aim to solve problems with rising costs of transportation of satellites and electronic devices in space. OBROK has gained 643% today.

ALPINE, the token of Alpine F1 Team Fan, is trading for around $7 with a 24-hour trading volume of $656.3 million. It added almost a third to its value after Alpine revealed the A522, its 2022 blue and pink challenger. 

Lido is a liquid staking solution for Ethereum and one of today’s biggest gainers, up 16% at the time of writing.  

The post Feb 22 highlights: Cryptos plummet, prospect of war causes European market selloff appeared first on Coin Journal.

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BSC-Wale haben Cardano (ADA) aufgenommen, obwohl Preis sinkt

  • Der größte BNB-Wal hat kürzlich ADA im Wert von über 5,1 Millionen USD erworben
  • BSC-Wale haben sich auch mit Dogecoin- und ALPHA-Token beschäftigt 

Das On-Chain-Überwachungstool WhaleStats enthüllte, dass der größte BNB-Wal am Sonntag ADA im Wert von 5,1 Millionen USD in sein Portfolio aufgenommen hat. Der Blockchain-Dienst, der die Top-Hodler auf der BSC und die Token, die sie besitzen, verfolgt, veröffentlichte die Informationen auf seinem BSC-fokussierten Twitter-Account @WhaleStatsBSC.

Genauer gesagt erbeutete der Rieseninvestor 5.367.075 ADA-Token für einen Preis von 5.106.208 USD. Zu beachten ist, dass es sich bei den fraglichen Token um ADA BEP20-Token handelt, die ausschließlich in der BNB-Kette existieren. Es handelt sich nicht um echte ADA-Token (Cardano native), sondern um Token, die an den Preis von ADA in der Binance-Kette gebunden sind, was bedeutet, dass solche Token nicht an eine Cardano-Adresse übertragen werden können. Ihnen fehlen auch jegliche Staking- oder Governance-Rechte.

Der Erwerb des Wals fügt nur einer bereits enormen Investition in Krypto-Token hinzu, die hauptsächlich in BNB gehalten werden. Das Portfolio dieses Anlegers weist eine signifikante Konzentration von 74,62 % in dem nativen Token der BNB-Kette auf, was einem Wert von 1.779.663.305 USD entspricht.

BSC-Investoren tauchen tiefer in Altcoins ein

Obwohl Cardano gegen Ende letzter Woche unter das entscheidende psychologische Unterstützungsniveau von 1 USD gefallen ist, scheinen Krypto-Investoren immer noch optimistisch zu sein. Gestern sah ADA den Sprung in die Top 10 der meistgekauften Token innerhalb der vergangenen 24 Stunden von den 1000 besten Investoren der BSC-Richlist.

„ADA [Cardano] ist wieder unter den Top 10 der von den 1000 größten BSC-Wallets in den letzten 24 Stunden gekauften Token. Die 1000 besten BSC-Wale horten 11.276.770 ADA im Wert von 11.815.034 USD“, berichtete der Datenaggregator damals.

BSC-Wale waren auch an anderen Token interessiert, und der jüngste Kandidat ist Dogecoin. Der Meme-Coin verdrängte ETH vom Spitzenplatz für den meistgehandelten Token der 1000 besten Wale in den letzten 24 Stunden. Zum Zeitpunkt des Schreibens beträgt die Konzentration von DOGE in ihren Portfolios 1,83 %, was für 324.950.073 gehaltene Token mit einem Wert von 46.070.284 USD repräsentativ ist.

Darüber hinaus gewinnen die BSC-Wale zunehmend Interesse an ALPHA von Alpha Finance, wobei der Token kürzlich in die Top Ten der von dieser Gruppe von Walen am häufigsten gekauften Coins gesprungen ist. In den letzten 24 Stunden wurden 9.517 Token zu einem Durchschnittspreis von 3.219 USD erworben, was es zum siebthäufigsten gekauften Token innerhalb dieses Zeitraums macht.

The post BSC-Wale haben Cardano (ADA) aufgenommen, obwohl Preis sinkt appeared first on BitcoinMag.de.