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Binance Coin (BNB) consolidates at $350 – Is a bullish rally now on the cards?

After a choppy start to the year, Binance Coin (BNB) appears to be consolidating the price action around $350. The coin may be poised for a bullish rally. But downside risks remain quite real with sluggish sentiment in the market and a risk-off approach among investors. But can Binance Coin (BNB) actually rise once more? Here are some highlights:

  • Since the start of the week, Binance Coin (BNB) has lost nearly 30% albeit some of those losses are recovering.

  • The coin is also trading at around 50% from its all-time high in what has been a major decline.

  • But consolidation around the $350 mark may suggest that more bullish action is coming in the near term.

Data Source: Tradingview.com 

Binance Coin (BNB) – Fingers crossed for a bull run

The $350 mark has been one of the strongest support levels for Binance Coin (BNB). The price has been tested before and held strong. At the time of writing, BNB was trading at $370, up 6% in 24 hours. 

As long as the price action plays out above that threshold, then we will likely see a bullish rise that could end BNB past $400. 

However, if bulls cannot defend this position, then an ensuing sell-off will test the next support of $340, something that could put BNB to lows of nearly $200. Besides, downside risks in broader crypto remain quite pronounced with expected volatility in the near term.

Why this is the perfect time to buy Binance Coin (BNB)

There was a time not long ago when Binance Coin (BNB) was trading at well above $500. The recent market crash has given investors a nice dip to buy one of the most prominent crypto assets in the world. So, if you don’t own BNB yet, you will need to get in at $350 or thereabout right now.

The post Binance Coin (BNB) consolidates at $350 – Is a bullish rally now on the cards? appeared first on Coin Journal.

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Terra (LUNA) finds support at $65 – Are bulls ready to push this to $75?

Despite the general carnage in crypto over the last week or so, Terra (LUNA) has remained one of the most resilient coins. The token is now finding strong support at the $65 mark and appears to be on a consolidation phase. But can bulls push the price action towards $75? Well, here are some highlights first:

  • Despite falling slightly by around 2%, Terra (LUNA) still is still trading around the $65 mark.

  • The momentum oscillators show that the token is oversold, suggesting little room for any serious sell-off.

  • LUNA has shown great resilience, surging from lows of $37 recently to hitting $65 in price.

Data Source: Tradingview.com 

Terra (LUNA) – Will it head to $75

Multiple signals appear to suggest that we may have seen a trend reversal in LUNA’s price action. After falling from recent highs of around $90, the token is now getting strong support and consolidation at $65. 

This makes LUNA a prime target for bullish action that could send the price to $75 at the very least. We are also closely looking at momentum oscillators that appear to show an oversold asset. This may indicate that a major sell-off is at the moment not on the cards. 

For these reasons, we expect a corrective bounce in the price that will at least push the price action further above. However, with the crypto market still showing signs of volatility, further downward pressure is still possible.

Is LUNA a decent investment?

Terra is one of the fastest-growing blockchains in the world. It has seen superb gains over the last few years and promises to dominate the crypto market in the future. For any serious crypto investor, this is a must-have token. The fact that it is trading nearly 50% from all-time highs means that you can get in at a decent bargain.

The post Terra (LUNA) finds support at $65 – Are bulls ready to push this to $75? appeared first on Coin Journal.

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Laut Fundamentaldaten & Korrelationsmodellen ist Bitcoin unterbewertet

Perianne Boring, Geschäftsführerin der Chamber of Digital Commerce, sagte gestern gegenüber CNBC, dass Korrelationsmodelle darauf hindeuten, dass der tatsächliche Wert von Bitcoin zwischen 50.000 und 100.000 USD liegt.

Die Gründerin und Präsidentin der Chamber of Digital Commerce, Perianne Boring, ist die jüngste Persönlichkeit, die behauptet, dass Bitcoin trotz der Volatilität der Kryptomärkte derzeit unterbewertet ist.

Während eines Interviews mit CNBC Squawk Box am Montag riet Perianne Boring den Anlegern, sich auf den zugrunde liegenden Wert von Bitcoin zu konzentrieren und nicht auf seine Preislage..

Mehrere Faktoren stützen ihre These

Perianne sagte, dass die Fundamentaldaten von Bitcoin echte Stärke zeigen und dies ein Beweis dafür ist, dass der Vermögenswert nicht richtig bewertet ist. Sie wies darauf hin, dass Bitcoin derzeit mit einer höheren Rate wächst als andere technologische Elemente – das Internet während des Booms der späten 90er und frühen 2000er Jahre.

Sie fügte hinzu, dass andere Facetten von Bitcoin, wie die blühende Hashrate (derzeit auf einem Allzeithoch), weitere Indikatoren für den unerreichten Wert von Bitcoin sind.

Darüber hinaus stellte Perianne fest, dass professionelle Krypto-Investorenmodelle, die stark mit Bitcoin korrelieren, Bitcoin derzeit im Bereich von 50.000 bis 100.000 USD platzieren.

„Es gibt eine Reihe von Modellen, die professionelle Krypto-Investoren heute verwenden. Heute liegen sie alle zwischen 50.000 und 100.000 USD pro Bitcoin. Diese Modelle sind zu über 90 % korreliert und sie sagen uns, dass Bitcoin unterbewertet ist“, sagte sie.

Die CEO erklärte auch, dass der aktuelle Zustand, in dem die Marktpreise eine Volatilität von bis zu 50 % aufweisen, nichts anderes als erwartetes Verhalten sei.

„Volatilität ist nicht unbedingt eine schlechte Sache, und es ist normal, in jedem Monat eine Volatilität von 30-50 % auf den Kryptomärkten zu sehen. Die Märkte verhalten sich genau wie erwartet“, erklärte Perianne.

Null“ als Antwort nicht akzeptieren

Angesichts der jüngsten Kurseinbrüche an den Märkten und der Behauptungen von Kritikern, dass Bitcoin auf Null sinken könnte, vertrat Perianne die Ansicht, dass solche Behauptungen unzutreffend seien, da Bitcoins Fundamentaldaten ihn über Wasser halten würden.

„… trotz der Tatsache, dass der Preis gesunken ist, sind die Fundamentaldaten des Netzwerks so stark wie eh und je“, fügte sie hinzu.

Auch wenn die Anleger in den ersten Wochen des Jahres das Schlimmste hinter sich haben, bleiben die Strategen optimistisch, was den weltweit führenden Kryptowährungs-Coin angeht. Die Marktanalysten sind der Meinung, dass die Volatilität an den Märkten Routine ist, während Bitcoin seinen Wachstumspfad beschreitet.

Im vergangenen April prognostizierte Perianne, dass der Coin vor Jahresende 288.000 USD erreichen würde. Die CEO erklärte damals, dass die Vorhersage auf dem Stock-to-Flow-Modell basiere.

Im selben Interview prognostizierte sie auch, dass Bitcoin in Zukunft stark skalieren und kontinuierlich Gold fressen würde, sodass bis 2029 ein Bitcoin 10.000 Unzen Gold wert sein würde.

The post Laut Fundamentaldaten & Korrelationsmodellen ist Bitcoin unterbewertet appeared first on BitcoinMag.de.

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ThorChain (RUNE) hopes to break downward momentum with a recent mini-rally

The massive sell-off we saw on ThorChain (RUNE) was nothing short of catastrophic, and that’s being nice. The coin has really spiralled downwards, following other crypto assets in decline. But a small mini-rally the last two days could help RUNE break this downtrend. Here are some highlights and analysis of the price action:

  • After hitting highs of $17.25 in a superb rally last year, selling pressure has sent RUNE on the floor with a massive decline.

  • At press time, the coin was selling at $4.02, nearly over 70% lower from its October highs.

  • Despite this, ThorChain (RUNE) has rallied nearly 20% in the last 24 hours as momentum starts to build.

Data Source: Tradingview.com

Can ThorChain (RUNE) break the downtrend?

Even with the 20% 24-hour rally, there is no question that ThorChain (RUNE) remains firmly in the bear market. The coin is trading at $4.02, and if there is going to be a sustained bullish momentum, it must at least test overhead resistance of around $7 in the near term. 

Whether this will happen remains highly unlikely. Although we have seen some steady gains in the crypto market over the last few days, there is still a lot of uncertainty. 

Any wild price swings could send ThorChain (RUNE) tumbling even further, erasing any hope of a trend reversal in the coming weeks. The good news is that most momentum indicators suggest that ThorChain (RUNE) could get bullish.

Should you buy ThorChain (RUNE)?

At the moment, it’s hard to see any serious demand for ThorChain (RUNE). As risk-off sentiment continues to push investors aware from the trading floor, we do not see enough demand for ThorChain (RUNE) in the near term to push the price that much higher. So, if you are buying for long-term value, well and good. But for short-term traders, this is not the asset to go for.

The post ThorChain (RUNE) hopes to break downward momentum with a recent mini-rally appeared first on Coin Journal.

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Should you buy chainlink as the price get stuck at $15

  • LINK/USD extends range-bound price action below resistance

  • LINK/USD market eyes a target above $17.73

Across the board, the overall crypto market is trading in a neutral direction. After strong selling pressure took charge of the price movement. And with less concern about fundamental analysis, Chainlink seems to exclude the list of assets governed by an economic release.

Hence buying Chainlink (LINK) from a technical analysis outlook will aid trading decisions.

Technical levels to watch before buying chainlink

Heavy bearish storms drag the value of Chainlink downhill after weak volume among the bulls caused the value of Chainlink to depreciate against the US dollar. At the same time, it is assumed that supply and demand are the major factors that control the price action of the digital currency market.

From north to south LINK/USD trading activities have proved to be a good example of the reaction caused as a result of market supply and demand, which tend to leave a mark on the crypto market price action.

LINK/USD hourly chart technical analysis

Source – TradingViewWith a technical analysis look on the 4-hour chart market investors would discover that the LINK/USD chart pattern is in for a long-term bearish price movement. As $10.59 near-term support endures welcoming the value of the digital asset to balance its feet along with its horizontal support. Alongside buying LINK/USD at this price point would enable a long-term gain for traders because $10.59 serves as the all-time low initial support for the asset.

Final thoughts and trading recommendation 

The upcoming Federal Open Market Committee (FOMC) meeting that’s set to come up on Wednesday would perhaps produce a rise in volatility in the crypto market. After expectations from market players await an interest rate hike announcement from the Fed chairman Jeremy Powell soon.

The post Should you buy chainlink as the price get stuck at $15 appeared first on Coin Journal.