Schlagwort: crypto business

• Tron token rose by 1.72% on Wednesday.

• TRX gains come amid news that Tron was supporting startup blockchains.

• TRX could continue to surge up to a descending trendline.

Tron (TRX/USD) is emerging from the ruins of a bearish breakout that sent the token spiralling to $0.045. The cryptocurrency recorded intraday gains of 1.72% and traded at $0.055. The token has printed a short-term bullish trendline that could now interest buyers. 

The slight recoveries in TRX come even as the Tron DAO continues to power startup blockchains. According to the latest announcement, Tron DAO Ventures, or TDV, will support elite startups. TDV will support projects within the Tron ecosystem and beyond. Tron says this is part of the DAO’s objective to grow decentralisation. TDV will also support outstanding projects that synergistically bridge with the Tron ecosystem.

The latest cryptocurrency news is positive for TRX, looking at the intraday price recovery. It is, nonetheless, less important in the long-term recovery of the cryptocurrency unless we escape the bear market. In the technical analysis below, we show potential levels to watch.

TRX price outlook and analysis

TRX/USD Chart by TradingView

A clear breakout of TRX happened at $0.06, and the price crashed to $0.045. The recent recoveries have, however, been encouraging. Bulls would aim for a higher price, although this is likely at the descending trendline.

The MACD indicator is also giving some hope. The indicator is crossing from the bear zone and currently lies at the neutral level. This is the clearest bullish signal, but we need to confirm it by the price movement. That’s especially because the momentum is not very strong from the indicator.

What to do with TRX?

Although we are still in a bear market, TRX buyers can aim for a price that coincides with the descending trendline. Still, buyers should watch over price as the bullish strength is still mild. 

If bears counter the upside, TRX price could crash back to the $0.045 support zone. The level around $0.052 could also offer support on the downside. 

Where to buy TRX

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

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OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy TRX with OKX today Disclaimer

The post Tron token making slow but sure gains amid plan to empower “elite” startups appeared first on CoinJournal.

• Ethereum Classic rose 4% on Wednesday.

• The cryptocurrency remains trapped by a descending trendline.

• ETC could fall to the July lows as technical indicators sound bearish.

Ethereum Classic (ETC/USD) recovered 4% on Wednesday and was among a handful of cryptocurrencies in the green. Leading tokens, Bitcoin and Ethereum, were mildly bullish at 0.19% and 0.04%, respectively.

Ethereum Classic price has been on a roller coaster for a while. It should be remembered that the cryptocurrency found a high of $45 in August, nearly four times the price from a low of $13 in July. The gains were fueled by the expectations that the Ethereum merge would attract miners to the Proof of Work blockchain. Investors traded the speculation, and when Ethereum shifted to Proof of Stake, ETC fans vanished. The cryptocurrency is now close to the July lows and traded at $16.35 at press time.

There is nothing wrong with Ethereum Classic, though, since it is reeling from the same bear market, affecting peers. If intending to trade the cryptocurrency, it is worth checking the technical levels to see the demand zones. At the moment, we are not there yet.

ETC still trapped by a descending trendline as price eyes July lows

ETC/USD Chart by TradingView

A technical outlook shows that ETC is bearish. The MACD indicator has never moved above the neutral zone since falling into bear territory in mid-September. The cryptocurrency trades along a bearish trendline. There is a clear system of lower highs and lower highs to underline a bear market for ETC.

What could happen next for Ethereum Classic?

Bulls generated some strengths as ETC price touched $15. We expect the price to continue surging toward a resistance at $18 or the descending trendline in the short term. Bulls will have to successfully battle and win at this level for ETC to become bullish.

In the more likely bear scenario, ETC sellers will take control at the resistance or the descending trendline. That will see the cryptocurrency trade along the bearish trendline and touch the July lows of $13.

Where to buy ETC

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

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OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy ETC with OKX today Disclaimer

The post Ethereum Classic prediction as the price recovers 4% in a bear market appeared first on CoinJournal.

• Litecoin, Bitcoin Cash, and Wrapped Bitcoin are associated with Bitcoin

• The cryptocurrencies move alongside Bitcoin

• LTC, BCH, and WBTC can become bullish in 2023 or when the bull market returns

Bitcoin (BTC/USD) is the largest cryptocurrency and the most popular. As a result, any cryptocurrency associated with this network is likely to gain attraction. But do you know which cryptocurrencies will likely become very bullish next year or when the bull market returns? Below are our top picks:

Litecoin (LTC)

Yes, Litecoin is tied to Bitcoin. It was created from the original Bitcoin code. That is different from other coins forked from the Bitcoin chain. Launched in 2011, Litecoin retains the Proof of Work consensus mechanism as the Bitcoin blockchain. However, the blockchain uses the Scrypt hashing algorithm, unlike the SHA-256 hashing function for Bitcoin. Litecoin is also a faster blockchain than Bitcoin.

Litecoin token (LTC) is a potential bull candidate in 2023 owing to its upcoming halving event. The event will happen around July 2023 and has already been linked to the recent surges in the price of LTC. LTC will have a double chance to surge high and return big if the market sentiment improves.

Where to buy LTC

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy LTC with eToro today Disclaimer

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy LTC with OKX today Disclaimer

Bitcoin Cash (BCH)

If you are looking for a cryptocurrency that trades similarly to Bitcoin but is relatively cheaper, Bitcoin Cash (BCH/USD) is the perfect option. The blockchain was forked from Bitcoin in 2017. The fork happened after developers failed to agree on the route to address emerging issues on Bitcoin. The goal of creating Bitcoin Cash was to increase the number of transactions per block and reduce fees, an objective that was achieved.

A return to the bull market will surely be underscored by the price movement of Bitcoin. Since BCH trades in a similar manner, you could want a piece of the cryptocurrency, which currently continues to defend the $100-$110 level.

Where to buy BCH

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy BCH with eToro today Disclaimer

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy BCH with OKX today Disclaimer

Wrapped Bitcoin (WBTC)

WBTC is an ERC20 token – these represent tokens that reside on Ethereum. If you are wondering why it’s called Wrapped Bitcoin, it’s because it is associated with the Bitcoin blockchain. 

Wrapped Bitcoin was created to allow Bitcoin holders to participate in the Ethereum blockchain. The cryptocurrency can be swapped on a ratio of 1:1 with BTC. It means for each WBTC, you get one BTC. Besides being integrated with Ethereum’s smart contracts, WBTC can also be transferred faster than Bitcoin itself.

Where to buy WBTC

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy WBTC with OKX today Disclaimer

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.

Buy WBTC with Binance today

The post Bitcoin-linked cryptocurrencies that have a chance of becoming very bullish in 2023 appeared first on CoinJournal.

• AVAX price has dropped to an all-time low.

• DeFi volume declined to $1.7 billion from a record high of $20 billion.

Avalanche price has been in a strong sell-off in the past few months as demand for the AVAX token weakened. The token plunged to a low of $11.81, which was its all-time low. It has plunged by more than 91% from its highest level on record, giving it a market cap of more than $3.6 billion.

AVAX moves to record low

Avalanche is a leading blockchain that seeks to become the best alternative to Ethereum. It is a proof-of-stake network that is well-known for its blazingly fast speeds and low transaction costs. It also has more throughput features.

Avalanche has been adopted widely in key industries like decentralized finance (DeFi), gaming, the metaverse, and non-fungible tokens. Some of its top apps in its ecosystem are Benqi, Aave, and Trader Joe.

AVAX price has dropped recently as interest in tokens plummet following the spectacular collapse of leading platforms like Terra and FTX. As I wrote in this report, crypto investors have pulled more than $11 billion from Binance, the biggest exchange in the world.

Avalanche has also seen activity in its network crash. For example, the total value locked (TVL) in its DeFi apps has crashed from over $20 billion to just $1.7 billion. Most dApps in its ecosystem like Wonderland, Trader Joe, Stargate, and Platypus Finance have seen withdrawals.

Monetary policy also has had a role in the collapse of Avalanche prices. While America’s inflation dropped in November, it remained above the Fed’s target of 2.0%. As a result, the Federal Reserve decided to hike interest rates by 0.50% and signaled that it will continue hiking in the coming months.

This explains why cryptocurrencies and stocks have plunged after the Fed meeting while bond yields have risen sharply.

Avalanche price prediction

AVAX chart by TradingView

The daily chart shows that the AVAX price has been in a strong bearish trend in the past few months. As it dropped, the coin managed to move below the important support level at $13.65, which was the lowest level on June 19. 

Avalanche also dropped below all moving averages while oscillators like the MACD and the Relative Strength Index (RSI) continued falling. Therefore, AVAX price will likely continue falling as the crypto bubble continues bursting. If this happens, the next key level to watch will be at $10. A recovery above $14 will invalidate the bearish view.

How to buy Avalanche

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy AVAX with eToro today Disclaimer

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy AVAX with OKX today Disclaimer

The post Avalanche Price Plunged to All-Time Low: Where to Next? appeared first on CoinJournal.