Schlagwort: crypto business

The cryptocurrency market has continued its excellent start to the week, with most coins trading in the green zone.

The cryptocurrency market is set to record gains for the second consecutive day this week. The ongoing positive performance has seen the market add more than 2.5% to its value over the last 24 hours.

At press time, the total cryptocurrency market has crossed the $1.3 trillion mark once again. Bitcoin has topped the $31k resistance level and could surge higher over the coming hours if the market momentum is maintained.

Ether, the second-largest cryptocurrency by market cap, is closing in on the $2k mark after adding more than 3% to its value in the last 24 hours.

However, WAVES, the native token of the Waves blockchain, is the best performer amongst the top 100 cryptocurrencies today. WAVES is up by more than 44% over the last 24 hours, outperforming the other major cryptocurrencies. 

WAVES has been performing well since the development team launched its revival plan a few days ago. The revival plan includes the decision to completely restore the dollar-peg of USDN stablecoin over the next eight weeks. 

Key levels to watch

The WAVES/USDT 4-hour chart is very bullish at the moment, thanks to the cryptocurrency’s positive performance. At the moment, the technical indicators show that WAVES could rally higher if the market momentum is maintained.

The MACD line crossed into the positive territory a few days ago, indicating bullish momentum. The 14-day relative strength index of 73 shows that WAVES could soon enter the overbought region.

At press time, WAVES is trading at $8.39 per coin. If the rally continues, WAVES could surge past the first resistance level at $11.22 before the end of the day. 

In the event of extended bullish performance, WAVES could move past the $15 mark for the second time this month.

The post Why is WAVES up by more than 40% in the last 24 hours? appeared first on CoinJournal.

Shiba Inu has seen a two-week period of price consolidation. There have been times when the coin has rallied but overall, the price action over the past 14 days has largely been in a consolidation phase. However, the coin may experience another 15% drop before it rallies. Here are some highlights:

• SHIB has formed a descending triangle pattern in recent weeks that could trigger a breakout.

• The coin will however need to gather enough trading volume to achieve this

• SHIB may dip by at least 15% before enough demand is generated for a bull run.

Data Source: TradingView 

How far can SHIB go?

At the moment, it seems like SHIB needs a few more days to consolidate further. Yes, it will drop of course, but we don’t see so much downside here. If anything, the 15% drop will bring SHIB within an important demand zone. This could finally provide the momentum needed for the meme coin to go on a strong uptrend.

Besides, right now SHIB is not far away from its bottom price after the May sell-off. In fact, if the meme coin was to drop by another 15%, it would be more or less within that price range. This means that more downside at this time remains very low.

It is likely that the coin is actually nearing the end of the May bear cycle and as such, it is ready for a decisive bull run.

Is SHIB risky right now?

The risk is minimal as we speak. In the short term, we do not expect any major sell-offs for the meme coin. However, with investor sentiment still struggling to pick up, the volatile nature of SHIB will likely continue. 

Nonetheless, SHIB could offer at least 25% in gains in June before it pulls back. As for long-term investors, improved sentiment in the market could push 3x growth by the end of 2022.

The post Shiba Inu (SHIB) could drop by around 15% before any bull run appeared first on CoinJournal.

Bitcoin is kicking off the new week in good shape. After a lackluster month in May, the coin appears to be finding some decent uptrend. But how long can this upward trajectory last? Well, we will look at this in detail below but first, check these points:

• Bitcoin has managed to climb above $30,000 once again after a whole week of weakness

• Despite this, the coin is yet to surpass an important overhead resistance of $30,750

• BTC could surge towards $32,500 if the resistance above is broken

Data Source: TradingView 

Will BTC go bullish this week?

It is highly unlikely we will see a notable bullish run for BTC this week. Yes, shooting above $30,00 is of course a good sign. But despite this, BTC still remains suppressed below a crucial resistance zone of around $30,750. 

The last time BTC tried to smash this price, the coin was firmly rejected. In the end, it fell sharply and bottomed at around $28,500. However, if bulls can find enough momentum over the coming days to push the coin above $30,750, then we might see Bitcoin surge and settle at around $32,500. This will be an upswing of around 10% from the current price. 

However, we do not see any further upside above $32,500 for now. The overall sentiment in the market hasn’t changed that much to suggest that BTC is poised for a bull run this week. Instead, the coin will go through the usual volatility but could still remain above $30,000 by the week’s end.

What is BTC’s realistic price in 2022?

A lot has been said about BTC hitting $100,000 this year. But this remains highly unlikely. Some experts in fact note that BTC could end the year at around $38,000. 

There is also a real possibility the coin could hit $50,000 as well. It all depends on how fast the risk-off sentiment in the market abates.

The post Bitcoin (BTC) returns above $30,000 – Will we see a bull run this week appeared first on CoinJournal.