Schlagwort: crypto analysis

• AltSignals presale nearly sold out with $1.021 million raised

• An interest in crypto and AI boosting the trading signal service platform

• $ASI is likely to surge in value as it gets listed on exchanges amid huge investor interest

Trading signal service AltSignals ($ASI) has been a presale sensation this year. The project has raised $1.021 million, with investors eyeing a share of its upcoming AI-led trading platform ActualizeAI. AltSignals is expected to raise $1.080 million through the presale, meaning that only 5% remains for the first phase to conclude. By all standards, this is a highly successful presale, given that it just opened its doors to investors a few months ago. But why has AltSignals generated so much interest from investors? Let’s explain this in some detail.

Crypto is the future, and so is artificial intelligence

Crypto had a rough year, but investors are still undeterred. Over the past week, recoveries have been widespread, with the crypto king Bitcoin eyeing a breakout past its now-established resistance at $30,000. The gains underline that the search for supernormal profits from the digital sector is far from over.

But we know the investment landscape is changing. As established cryptocurrencies whipsaw within ranges that investors have become accustomed to by now, new crypto projects are a fast gathering storm. They present new and unexploited opportunities that investors are willing to try. 

AltSignals comes at a time when the application of AI is growing, especially in the trading world. Just imagine the benefit of using AI to generate signals from financial instruments like stocks and forex. Of course, AI has been in use in the trading world as it has been shown to produce more quality signals. The ability to intertwine crypto, AI, and trading makes AltSignals a unique and quality project which is attracting investors.

What is AltSignals, and how does it work?

AltSignals is a trading signal service created in 2017 by a team of professional UK traders. It has grown exponentially over the years, with its trading community increasing to over 52,000 members on Telegram. The signal service boasts approximately 64% signal accuracy, generated using the AltAlgo™ algorithm. The top performing markets for the company are shares, forex, the Binance Futures, crypto, and CFDs. 

A strong and growing demand for AltSignals service has prompted the team to expand into AI-led signal service. The team is launching an AI platform dubbed ActualizeAI. The interest in AI has been fueled by a need to increase the quality of signals generated and the number of financial instruments covered. 

To benefit from the AI signals, you need to become an ActualizeAI member. Crypto token $ASI will be the unit of membership. Investors who buy $ASI in the presale will have early access to ActualizeAI and enjoy other benefits.

What value does $ASI offer?

If you are a trader or investor interested in trading, $ASI could be an ideal investment. You have access to a trading community benefiting from quality signals generated by professionals. $ASI also gives investors a chance to compete in trading tournaments. This could be an excellent way to improve trading skills while getting rewarded with $ASI for winning the contests. There are exclusive presale opportunities for members of ActualizeAI. 

If you have been searching for a trading community where members have a voice, AltSignals, and ActualizeAI could be the ideal place. You can use $ASI to vote on governance, besides using the tokens to contribute ideas on the platform and get rewarded.

Should you buy $ASI this week?

$ASI’s presale in the first phase is ending with around 5% of tokens left to be sold out. From here, the token’s price will increase, and investors may have to spend more. The token could also get boosts from exchange listing after a successful presale. It means buying now offers a perfect chance to join ActualizeAI early and familiarise yourself with the AltSignals platform.

The post AltSignals’ first stage presale nearly sold out amid resilient crypto sector appeared first on CoinJournal.

• Bitcoin trades above $30k despite the dollar strengthening against other fiat currencies
• News that BlackRock prepares to launch a spot Bitcoin ETF helped
• SEC’s lawsuits create uncertainty

Bitcoin trades at a 1-year high after breaking out of a consolidation that looks like a bullish flag pattern. As such, the cryptocurrency has made a new higher high, keeping the bullish bias intact despite consolidating since April. 

While trading above $30k it is hard to make a bearish bet on Bitcoin. That is specifically true if looking at what happened in the traditional currency market, where the US dollar strengthened across the board. 

For example, the EUR/USD exchange rate dropped from 1.10 to 1.0850 on news that the European PMIs weakened more than the market expected. Also, the GBP/USD dropped on weak UK data. 

All in all, the dollar strengthened last week, but it did not gain against Bitcoin. 

Just the opposite. 

Bitcoin chart by TradingView

What drives the Bitcoin price higher? 

By now, it is obvious that the dollar’s weakness did not drive the move higher. Therefore, something else must be the cause of this bullish breakout. 

Two possible explanations exist. 

One is related to BlackRock, the American multinational investment company, one of the largest in the world. News surfaced that the company submitted an application for a spot Bitcoin ETF designed to track the underlying market price of Bitcoin. Therefore, some argue that BlackRock might know something in advance. 

Another is that investors’ trust in the industry builds up with the recent SEC lawsuits. A more transparent industry should be a positive for crypto investors. 

Regardless of the reason, Bitcoin trades above $30k on the dollar’s strength against other fiat currencies. If the divergence continues, Bitcoin might have more upside. 

On the flip side, no one knows how the cryptocurrency market will react to the Binance and Coinbase verdicts. 

The post Should you buy Bitcoin as it jumps to a 1-year high? appeared first on CoinJournal.

• Cryptocurrencies had a strong performance this week as Bitcoin surged to $30,000.

• Most altcoins like Cardano, Pepe, and MATIC also jumped.

• More upside will depend on whether Bitcoin is able to clear $31,000.

Cryptocurrencies had a strong performance this week as investors focused on TradFi and the positive comment from Jerome Powell, the Federal Reserve chairman. Bitcoin price jumped by more than 20% in the past 7 days while Ethereum soared by 14%. The near-term price action for cryptocurrencies will depend on whether BTC will soar above the year-to-date high of $31,000. So, what next for MATIC, Stellar, and Cardano?

Cardano price prediction

Cardano has been in a strong bearish trend in the past few months. It dropped to a low of $0.4592 on April 16th to a low of $0.2295. The lowest point was a notable one since it was the lowest level in December.

While the recent rebound is welcome, buyers should be cautious considering that the coin has formed an inverted cup and handle pattern. The current rebound is part of the handle section. In price action analysis, the inverted C&H pattern is usually a bearish sign. Therefore, there is a likelihood that the Cardano price will resume the bearish trend in the near term.

If this happens, the next level to watch will be at $0.2414. A break below this level will confirm the bearish thesis and signal that the ADA price could slip to the key support level at $0.20, which is about 30% below the current level.

How to buy Cardano

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Polygon MATIC price prediction

Polygon MATIC price has been in a steep sell-off in the past few months. This decline happened as the layer-2 network faces significant competition from the likes of Optimism and Arbitrum. On the daily chart, the price dropped to $0.5079 in June and then resumed the bullish trend this week. It has now retested the important resistance point at $0.6905, the lowest point on September 20th last year. 

MATIC remains below the 25-day and 50-day moving averages. Therefore, I believe that this recovery will not hold. If this happens, the coin will likely retest the month-to-date low of $0.50, which is about 26% below the current level.

How to buy MATIC

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Stellar Lumens price prediction

The daily chart shows that the XLM price crashed to a low of $0.075 on June 15th. This was an important level since it coincided with the lowest level on March 11th of this year. Stellar has now moved slightly above the 25-day and 50-day moving averages. It has also formed what looks like a double-bottom pattern whose neckline is at $0.1145. 

Therefore, there is a likelihood that the Stellar coin will likely continue rising as buyers target the key resistance point at $0.10, which is about 11.31% above the current level. 

How to buy Stellar

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The post Crypto price prediction: Cardano, Polygon MATIC, Stellar Lumens appeared first on CoinJournal.

• Bitcoin mining stocks made a bullish breakout this week. 

• Marathon Digital share price soared to the highest level since November.

• Future price action will depend on the Bitcoin price action.

Marathon Digital stock price surged to the highest level since November 2022 as Bitcoin and other cryptocurrencies roared back. MARA shares jumped to a high of $12.75, meaning it has soared by more than 319% from the lowest level in December. Other bitcoin mining companies in the industries like Riot Platform and Hut 8 Mining also surged.

Bitcoin mining stocks jump

The main reason why MARA stock price soared is that Bitcoin price neared the highest point this year. This rebound happened as the crypto fear and greed index soared to the greed area. 

Most analysts believe that the ongoing trend of TradFi is the main driving factor for Bitcoin prices. TradFi refers to a situation where traditional finance companies move to the crypto industry. 

On Friday, Blackrock, the biggest asset manager in the world, announced that it had applied for the iShares Bitcoin Trust with the SEC. This will be an ETF tracking the spot Bitcoin price and will be similar to the Vanguard Gold Trust.

Other large companies in the industry also unveiled their Bitcoin ETF filings. They included companies like Invesco and WisdomTree. Analysts believe that the SEC will come under pressure and allow these funds this time.

Another TradFi news was that Deutsche Bank applied for a crypto custody license in Germany. Credit Agricole, a large French bank, also received its custody license. These banks hope to take care of wealthy Europeans seeking access to the industry.

Therefore, MARA stock price is soaring because its business thrives in a period when Bitcoin price is thriving. Its future price action will depend on whether Bitcoin moves above $31,000. This is an important level since it is the upper side of the double-top pattern. As such, if it rises, it means that the double-top pattern has been invalidated.

MARA stock price forecast

The daily chart shows that the Marathon Digital stock price has been in a slow bullish trend in the past few months. The shares consolidated at around $10 in the past few weeks. It then moved slightly above the key resistance point at $12.85, the highest level on April 18. The price was along the upper side of the ascending triangle pattern.

MARA share price has jumped above the 25-day and 50-day moving averages. Therefore, while the outlook is neutral, the stock will likely have a bullish breakout as buyers target the next key resistance point at $15. A drop below the support at $10.90 will invalidate the bullish view.

How to buy Bitcoin

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The post MARA stock price tests key resistance: Is Marathon Digital a buy? appeared first on CoinJournal.

• Pepe crypto price has almost doubled in the past few days.

• This rally is in line with that of other cryptocurrency market.

• The bullish trend could be part of a bull trap.

Pepe price has jumped sharply in the past few days, making it one of the best-performing cryptocurrencies in the market. It soared to a high of $0.0000016, the highest point since May this year. In all, the meme coin has jumped by more than 85% from the lowest level this month.

Why Pepe price is soaring

Pepe price has jumped because of the rising greed in the crypto market. The crypto fear and greed index has jumped to the greed area of 60 as most cryptocurrencies have jumped. Bitcoin has crossed the important resistance point at $30,000 while a sea of green has dominated the market.

The strong performance is mostly because of the ongoing TradFi trends in the industry. For example, on Thursday, it was reported that Credit Agricole had acquired a crypto custody license in France. This is notable since this is the third biggest bank in Europe by assets.

The announcement came a few days after Deutsche Bank applied for custody services in Germany. Also, companies like Blackrock, WisdomTree, and Invesco have applied for their spot Bitcoin ETFs with the SEC.

These events have nothing to do with altcoins like Pepe. Instead, they have helped to ameliorate the recent regulatory challenges in the United States. As you recall, the SEC filed major charges against Coinbase and Binance, the biggest firms in the industry.

This could be a bull trap

Pepe price has also jumped because of the Fear of Missing Out, popularly known as FOMO. In most periods, this FOMO tends to be a bull trap that leads to substantial losses to the holders. Just ask investors who bought GameStop, ContextLogic, and Bed Bath and Beyond shares. Most of them have lost substantial sums of money.

Therefore, I suspect that Pepe price will retreat soon as investors start taking profits. As you can see in the chart above, the volume has started to diverge from the price. After peaking on Wednesday, the volume has continued falling. 

If this view is correct, Pepe will likely drop to the key support at $0.00000012, the highest point on June 9th of this year. This price is about 25% below the current level.

How to buy Pepe

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