Schlagwort: crypto market

The cryptocurrency market is slowly recovering after underperforming earlier this week. 

The cryptocurrency market is having an excellent Wednesday after underperforming over the past two days. After dropping below the $1 trillion mark earlier this week, the total cryptocurrency market currently stands above $990 billion after adding more than 3.5% to its total value.

Bitcoin remains the leading cryptocurrency by market and is currently trading above the $21,500 level after rallying by more than 3% in the last 24 hours. 

Bitcoin, the world’s leading cryptocurrency by market cap, has also been performing well over the past 24 hours.

Ether is also performing well, up by more than 6% in the last 24 hours and is trading above the $1,400 level.

NEAR, the native token of the Near blockchain, is up by more than 4% in the last 24 hours. The positive performance came after the NEAR Foundation announced its partnership with Fireblocks. 

The Fireblocks integration with NEAR will allow institutional users to now access the NEAR Protocol’s fast and low-cost sharded proof-of-stake blockchain safely and securely.

Key levels to watch

The NEAR/USDT 4-hour chart is bearish despite the Near protocol performing well in the last 24 hours. The technical indicators show that NEAR has been underperforming in the last few days.

The MACD remains within the negative zone, indicating bearish momentum. The 14-day relative strength index of 40 shows that NEAR is no longer within the oversold region.

At press time, NEAR is trading at $3.718 per coin. NEAR could surge past the $4.094 resistance level if the positive performance continues. 

However, it would need the support of the broader market to reach last week’s high of $4.671.

The bears might regain control in the short term and send NEAR towards the $3.20 support level before the end of the day. 

The post Here is why NEAR is up by more than 4% in the last 24 hours appeared first on CoinJournal.

LEVER crypto price jumped sharply on Wednesday as other coins rebounded. The coin rose by about 15%, according to data compiled by Binance. It was trading at $0.0030, which was about 20% below the lowest level this year. The small-cap coin has a market cap of over $41 million.

What is LeverFi and why is it rising?

The Decentralised Finance (DeFi) industry has seen significant growth in the past few years. While the past few months have been challenging, there are signs that it is bouncing back. For example, the total value locked (TVL) in the sector has risen to over $85 billion.

LeverFi is a relatively small blockchain project in the DeFi industry. The network allows users to yield farm using leverage. In other words, its lets traders to deposit yield-bearing collateral and trade the fluctuations in asset prices with up to 10x leverage. 

LeverFi accepts a wide range of assets such as mainstream coins like BTC and ETH and liquidity pool assets like Curve, UNI, and Cake. All these assets are then deployed in platforms like Yearn Finance, Convex, and Pancake to earn yields. These leveraged trades are then settled using the Lever platform.

According to the developers, Lever will be deployed in Ethereum’s blockchain and then scaled in other popular platforms like Avalanche and Arbitrum. 

The LEVER crypto price is rose as investors cheered the recent addition to the Binance platform. This means that users can buy and trade the $LEVER coin in its platform. At the same time, Binance Futures recently added the $LEVER perpetual contracts with up to 20x leverage. 

The current rally is mostly because of the upcoming Ask Me Anything (AMA) of Lever’s platform, which will be hosted by Binance. The company will give over $5,000 worth of rewards.

LEVER crypto price prediction

The hourly chart shows that the LeverFi price bounced back on Wednesday ahead of the upcoming AMA It moved slightly above the descending trendline that is shown in blue. It moved slightly above the 25-day moving average while the Relative Strength Index (RSI) moved below the overbought level. The coin will likely resume the bearish trend and retest the key support level at $0.0025.

The post LEVER crypto price prediction: Why is LeverFi soaring? appeared first on CoinJournal.

Despite news of another potential round of interest rate hikes, there is every reason to consider investing in cryptocurrencies at current prices. 

For starters, those with the most stake in the market are not selling their holdings. For instance, data shows that Bitcoin whales are not only holding but also adding to their positions.

Data also shows a lot of Bitcoin buying around the $20k level. This is an indicator that investors are confident of a potential rebound. With this in mind, it makes sense to consider buying into high-quality cryptocurrencies, which are most likely to do well once the market turns a corner.

Wondering which cryptocurrencies meet this metric? Lucky for you, we have researched and compiled some of the best cryptocurrencies to buy when cryptocurrencies could be trading at the bottom. 

XRP (XRP)

XRP (XRP) tends to do well when Ripple has good news. It also gets hit by the negatives, hence XRP’s underperformance since Ripple got sued by the SEC. However, besides signs that the case could be near its end, there are signs that the finance industry still has lots of faith in Ripple.

This is evident in the growing number of partnerships that Ripple is landing, especially in Asia. The latest of these is a partnership between Ripple and FOMO Pay, one of the top financial institutions in Singapore. 

FOMO Pay aims to improve its transactional liquidity using Ripple’s on-demand liquidity. Since XRP is an integral part of this system, it comes off as a viable cryptocurrency to buy today. 

Cardano (ADA)

Cardano (ADA) has lost much of its value since the cryptocurrency bear market started in December 2022. However, Cardano’s on-chain metrics indicate that this cryptocurrency could be about to turn a corner. Data by Santiment, one of the largest cryptocurrency data providers, shows that Cardano’s average funding rate points to a potential rally for Cardano. 

According to Santiment, there has been a sharp increase in the number of ADA longs liquidated. If past instances are anything to go by, then the odds are that Cardano is at a buy position at current prices. With Bitcoin holding and bouncing off key support, it is not hard to see why ADA could be positioned for a rally. 

Dogecoin (DOGE)

Elon Musk’s favorite meme coin has much potential if the markets show bullish signs again. Besides the hype that Dogecoin (DOGE) gets from Musk, a lot is going for it that could see its value go up in the year. 

One of them is technology upgrades aimed at making DOGE perform better as an everyday payment currency. The latest such move is to migrate Dogecoin nodes to a new core, dubbed v.14.6. This upgrade, among others currently happening in the Dogecoin ecosystem, could help drive up Dogecoin’s price higher if there is a market rally in 2022.

The post Top 3 altcoins to buy as Bitcoin whales buy the dip appeared first on CoinJournal.

• Avalanche is trading at the breakout zone after correcting in a bear market

• The Fed’s policy move on Wednesday will determine the price move

• Watch for the close of the daily candlestick for a possible reversal or bear continuation

Most cryptocurrencies are correcting after the recent gains. Profit taking and Fed’s policy action on Wednesday is playing a role. Cryptocurrencies like Avalanche AVAX/USD had previously breached key levels. They remain on the watch list should the Fed hold a soft stance regarding policy tightening.

AVAX is trading at $20.12. The level is close to or at the support of $20.95. AVAX traded and consolidated at $26 as the price pushed through the $20.95 resistance. At the current price, the token is seemingly looking to crash back into the consolidation zone. Nonetheless, it can’t be confirmed yet that AVAX has slipped below the $20.95 support. We need the close of the daily candlestick for confirmation.

AVAX slightly slips below the breakout support

Source – TradingView

Technically, the Avalanche token is bearish at or slightly below the $20.95 support. The short-term moving averages have moved above price and could add bear weakness. The MACD indicator is also about to close below the moving average in a bear market.

While bear pressure remains on AVAX, we cannot confirm a break below the $20.95. Investors should watch for the close of the daily candlestick. It could be a false breakout if the candlestick closes above the support. In that case, a buy signal would be generated. That would, of course, be subject to the prevailing crypto sentiment.

If AVAX closes below the $20.95 support, with a bear crypto sentiment, weakness will continue. The next potential support for the token is $16.

Summary

AVAX is yet to confirm a bearish momentum despite breaking slightly below the $20.95 support. The token could reverse if the daily candlestick closes above the support.

The post Watch for the close of Avalanche’s daily candlestick to assess price direction appeared first on CoinJournal.

• Uniswap has hinted at plans for a Full Sudoswap Support

• Uniswap token is under pressure but remains in an uptrend

• $5.6 is the immediate level to watch should weakness continue

Uniswap UNI/USD is correcting after the recent gains that saw the token top $7.70 on July 19. The token has been largely consolidating since July 16. A breakout of the key levels seems unlikely as weaknesses continue to grow. 

The latest weakness in the Uniswap token comes amid positive developments on the network. On June 22, Uniswap’s head of NFT products, Scott Lewis, announced plans for Full Sudoswap Support. The integration of Sudoswap, an NFT exchange, will allow the trading of NFTs on the platform. The trading is indicated to start around the fall. 

The full integration of NFTs through Sudoswap support is positive for Uniswap and its native token. That would detach Uniswap from other platforms such as OpenSea for NFTs. The integration will also enable NFT DEXs and other products on the platforms. The developments strengthen the use cases of UNI.

The news, of course, complements the latest development where the UNI token was listed on Robinhood. We believe UNI is only correcting after the latest gains, and investors should consider buying lower.

Uniswap corrects at a minor resistance as weakness grow

Source – TradingView

Technically, UNI remains on an uptrend despite the latest weakness. The cryptocurrency met a minor resistance at $7.4 and is dropping lower. The MACD line is closing below the moving average, indicating a bearish pressure. 

We believe UNI will continue dropping to find support at $5.6. A further drop to $4.1 support will depend on the prevailing crypto sentiment. However, we believe UNI has strong fundamentals to make a comeback. Investors should monitor the token.

Summary

Uniswap is bearish but remains solid on an uptrend. Technical indicators suggest a further price drop. Investors should watch for a bullish reversal at $5.6.

The post Uniswap price prediction amid full NFT integration plans appeared first on CoinJournal.