Schlagwort: crypto market

Key point

• Ripple labs battle with SEC lawsuit.

• The company just buyback $200 million worth of Series C shares.

• The company remain optimistic about what 2022 will bring to the table.

It’s no longer a doubt that Ripple labs Inc has long been combatting with a yet to be resolved financial matters with the US Securities and Exchange Commission (SEC).

According to a report from giant crypto research networks, in late December 2020, Ripple was brought to charge with the US Securities and Exchange Commission (SEC). Following the alleged financial case that Ripple raised more than $1.3billion in unregistered earnings as a result of selling XRP securities to institutional investors.

The charge was brought to the limelight when the Securities and Exchange Commission (SEC) declared that the Ripple token should be labelled as a financial security asset and not as a payment system.

Fast forward to the imbalance that was felt in the Ripple market value, several financial institutions back out from accepting the XRP token on their trading platforms. The likes of giant tech companies such as Coinbase and Bitstamp are among the list of US-based industries that delisted the XRP digital currency from their trading assets.

However, with an optimistic look at 2022, it seems the Ripple coin will present a positive effect on its market value. As the recent announcement by the CEO Brad Garlinghouse stated on Wednesday, the San Francisco-based company had just buyback $200 million worth of series C shares, despite the headwinds inflicted by the SEC lawsuit.

Technical levels to watch before buying Ripple

However, if the value of XRP should expand bullish price action above the $0.805 resistance, the overall market sentiment for the asset will resume bullish price movement to the North.

In addition, with the indicator analysis, it seems the Average True Range (ATR) value tends to approach multi-year low while Relative Strength Index (RSI) stays neutral.

 In essence, both the volatility ratio alongside the profit and loss ratio express that the current situation of XRP resides in a neutral bias. Hence a surge in volatility could hasten the price action of the asset to gain bullish momentum from the buyers.

The post Should you buy XRP amidst the ongoing lawsuit with the SEC? appeared first on Coin Journal.

After making some decent gains over the last 2 days, it seems like IoTeX (IOTX) is losing momentum. The token reversed some of the gains made during this short-lived bull run. Looking at indicators, it could even plunge further, hitting new lows in the process. Here are some highlights:

• At the time of writing, IoTeX (IOTX) was trading at $0.07453, down about 2% for the day.

• The token is also trading 30% lower compared to the prices over the last 7 days.

• The recent two-day bull run appears to be a false start with IoTeX (IOTX) now expected to plunge even further.

Data Source: Tradingview.com 

IoTeX (IOTX) – Price prediction and analysis

IoTeX (IOTX) has largely been in a bear market. Even with the rally at the start of the week, we have always known that the downtrend was well and truly in force. Nonetheless, the project announced that there were launching the MachineFi Portal, a new technology that helps to integrate the Internet of Things into th blockchain ecosystem. 

But it seems the news was not exciting enough for investors. As we speak, IoTeX (IOTX) has tried to retest its upper trendline but has failed to hold gains in any sustained way. As the crypto market sees some improvement in sentiment, there could still be some upward momentum. But we expect IoTeX (IOTX) to first of all plunge further before it finds enough support for any decent bull run.

Should you buy IoTeX (IOTX)

IoTeX (IOTX) is a very interesting project. Its been doing a lot to add more features into its ecosystem and as such, for investors who are looking into the future, this is a great project to add to your portfolio. The fact that right now, it’s trading at new lows gives you a perfect chance to get in and ride the upward wave in the near term.

The post IoTeX (IOTX) loses steam after two-day bull run – Token could plunge to new lows appeared first on Coin Journal.

Key points

• The market lack volatility after oversold price stabilisation

• $0.25 and $0.14 maintain demand and supply levels

• Stellar approach smart contract incorporation into its network 

According to the recent announcement from the official Stellar Twitter handle, it seems the stellar coin will present room for innovation in 2022, as the company aims to incorporate smart contracts into the stellar network.

While this could leave a positive impact on the value of the asset. However, Stellar is known for its rapid rise in price towards the close of Q1 and its swift fall in the middle of Q2 in 2021.

And ever since the market crash in May, XLM/USD expanded „swing channel“ price movement below the $0.9 ATH value.

Though there is no significant evidence if the asset will maintain this bearish momentum for long-duration. After $0.14 and $0.25 have been labelled as the initial near-term support and resistance of the market.

With an optimistic viewpoint on the XLM/USD price chart. It should be noted that if the value of Stellar should find its way above the $0.25 near-term resistance, gaining bullish attractions will be the next event that will be recorded in the market. As the bulls are waiting for the price to cross above the $0.25 near-term resistance.

Technical analysis outlook for XLM/USD price action

To explain XLM/USD technical analysis into a simplified term. That will give the trading decision a profitable entry point. Below is the breakdown of stellar price action from the daily time frame.

With a small body candlestick pattern printed on the daily price chart, the market volatility was put on a halt after the Average True Range indicator pointed to the south.

Final thought

While we might be in haste to trade XLM/USD, however, market players should take into consideration the exit and entry points that need to be respected before market orders can be executed.

At the moment, $0.25 is acting as near-term resistance, meaning a break above that level will change the entire ecosystem of XLM/USD into a bullish bias. On the other hand, if the price should dip below $0.149 near-term support, the value of the asset will resume a bearish trend to the south.

The post Stellar trade neutral after price struggle to extend bearish rally appeared first on Coin Journal.

Litecoin (LTC) has started today’s trading session on the green. After seeing a slump over the past few weeks, the coin appears to be rallying. But despite this, Litecoin (LTC) still remains highly volatile, and it could slide back to $95 in the near term. Here are some highlights though:

• At the time of writing, Litecoin (LTC) was trading at $107.77, up by about 5% in 24-hour intraday trading.
• The coin appears on course to retest its overhead resistance of $112 in the coming days.
• However, other indicators suggest that Litecoin (LTC) could fall back to $95 before it rallies again.

Data Source: Tradingview.com 

Litecoin (LTC) – Price predictions

For the most part of 2022, Litecoin (LTC) has been in the bear market. But despite this, the token did manage to hit highs of $152 this year in an unusually strange bullish surge. 

As it turned out, this was a short-lived run because we have seen a consistent decline. Litecoin (LTC) is now trading at $107, up about 5% in 24 hours. We see the token retesting the $112 resistance, but it is highly unlikely it will break that. 

As a result, more downward pressure is coming, something that will push it back to its $95 support. Besides, sentiment in the crypto market remains very sluggish even though it has slightly improved over the last few days.

Should you buy Litecoin (LTC)

The big answer is Yes. Litecoin is one of the most notable tokens out there with incredible fundamentals. It has also shown great consistency in terms of growth. 

So, for folks who want decent coins for long-term value, Litecoin (LTC) will always be top of the list. But recent bear pressure has wiped out a lot of value here. With the price action expected to swing further down, it would be best to wait a few days before getting in.

The post Here is why Litecoin (LTC) could drop to $95 despite a bullish run in today’s trading session appeared first on Coin Journal.

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.