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Top 5 Altcoins to Watch: Shiba Inu, XRP, Mina Protocol, Toncoin and Cronos – The Crypto Basic

The cryptocurrency market has seen a generally bullish year, but certain crypto assets such as Shiba Inu (SHIB), XRP, Mina Protocol (MINA), Toncoin (TON) and Cronos (CRO) have caught the eye due to their impressive metrics and potential for growth.

The Crypto Basic carried out an evaluation of these cryptocurrencies, considering their price movements this year, tokenomics, technology, and social bearing. These factors appear to bode well for the crypto assets in question, eliciting their inclusion in our list of top 5 altcoins to watch.

Shiba Inu might not be the largest asset in the memecoin category, but it appears to command the largest community. Launched in August 2020 by the pseudonymous Ryoshi, the crypto token is gradually transitioning from a memecoin to a decentralized ecosystem.

This ecosystem, championed by lead developer Shytoshi Kusama and a team of others, involves multiple projects, including the Shiba Inu Metaverse, ShibaSwap, Shibarium and Shib Name Service.

The ongoing development of the Shiba Inu ecosystem is poised to introduce greater demand and adoption for the SHIB token. The ecosystem also contributes to token burns. These contributions have triggered renewed interest in Shiba Inu, making it one of the hot choices for the future.

SHIB currently trades for $0.00001053, having retained a foothold above $0.00001. SHIBs technicals are mainly bullish, with a robust support stationed at $0.00001023.

SHIB has maintained a 14-day RSI of 55.85 despite the latest uptrend, with a 71% bullish sentiment. The token faces possible resistance at $0.00001088.

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Being the native token of the XRP Ledger (XRPL) comes with its perks, and XRP has continued to welcome these advantages. XRP was originally designed to power the XRPL, but it has grown to become one of the most attractive investment options for crypto enthusiasts.

The token became the subject of a lengthy litigation between the U.S. SEC and Ripple from December 2020 until recently. A pivotal ruling determined that it is not a security, as alleged by the SEC.

This decision positions XRP as the only altcoin with legal clarity in the U.S., making it a unique investment choice. XRP has underperformed since the start of the latest market-wide uptrend, but this pattern preceded a substantial upsurge for the asset in 2017.

Historical precedence has kept optimism in XRP alive, with market participants banking on its legal and regulatory clarity. XRPs fear and greed index currently stands at 65, indicating greed, as investors remain confident in the assets future trajectory.

XRP boasts 18 green days over the past month. Sentiment surrounding the asset is 54% bullish, as it changes hands at $0.6249. XRP trades slightly above its 50-day EMA ($0.6224) and way above its 200-day EMA ($0.5546).

Mina Protocol stands out as a minimal succinct blockchain with a focus on privacy and accessibility. Utilizing zero-knowledge proofs, it allows users to interact with decentralized applications (dApps) without compromising personal data.

The team behind the project has continued to push for more innovation, making MINA its native token an attractive asset for the future. One of these innovations is the Mina-Ethereum Bridge, which enhances cross-chain communication.

MINA, the native token, plays a crucial role in securing the network and enabling access to dApps. Its notable price performance has caught the eye, as it recently clinched a 19-month high of $1.48. Investor confidence is high, with technicals presenting a bullish setup.

Currently, MINA trades for $1.439 with a market cap of $1,478,288,672, MINA has rallied 8% over the past 24 hours, breaking into the top 60 among the largest crypto assets, as it retains the 56th position. 24-hour trade volume currently sits at $177,451,497.

Toncoin, native to The Open Network (TON), boasts features like speed, compatibility, and flexibility. Originally manned by Telegram, the social media platform abandoned the project following regulatory issues with U.S. authorities.

A group of independent developers took over the Open Network, and has continued to push for its development. The projects roadmap includes the launch of initiatives like TON Bridge and TON Swap. The Toncoin Incentive Program, a collaboration with Blockchain.com, further encourages user engagement.

TON, the token driving the network, has demonstrated impressive price performance, currently trading for $2.40 amid a 5.79% rise in the last 24 hours. The ongoing development of the network has positioned TON as a potential contender in the next bull market.

Cronos Chain, developed by Crypto.com, distinguishes itself through scalability and speed. Key developments such as the Cronos-Ethereum Bridge and Cronos Rollups, signify its commitment to advancing blockchain technology.

CRO, the native token, facilitates network security and access to a variety of applications. The token has demonstrated impressive price performances in the past, rallying to the all-time high of $0.9698 in November 2021.

Cronos was one of the biggest beneficiaries of the 2021 bull market. As a result, some market watchers project it to perform well in the upcoming bull run, as Crypto.com continues to command more user participation.

The crypto token has consolidated for most of the month, but this consolidation comes after a massive 94% surge in October. CRO currently commands bullish sentiments, with its FGI currently at 65.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Top 5 Altcoins to Watch: Shiba Inu, XRP, Mina Protocol, Toncoin and Cronos - The Crypto Basic

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Shiba Inu (SHIB) closes 2023 as the top altcoin in India – Invezz

Meme token Shiba Inu has cemented its position in the Indian crypto market. The altcoin defied expectations to outshine established crypto projects such as Ripple (XRP) and Ethereum (ETH) as it emerged as the 2nd most-traded crypto on the WazirX exchange.

WazirXs 2023 report highlights Shiba Inus outstanding performance. It showed that the loyal followers, the Shiba Army, have been vital in the projects success. SHIB has even outpaced Dogecoin (DOGE), the original canine-themed cryptocurrency.

Shiba Inu could have emerged as the best digital coin for Indian crypto traders due to various reasons. The altcoins affordability and accessibility make it a lucrative option for early investors, perfect for cost-oriented economies like India.

Also, the Shiba Inu meme appeal attracts young tech-savvies in India. Further, the projects dedication to ecosystem developments (as it looks for heightened utility) triggered expectations of astronomical gains a focal point for many investors in any emerging economy.

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India has one of the most dynamic markets for virtual coins. It rose to be the second-largest crypto market globally despite high taxes.

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Moreover, it has recently increased scrutiny of the market. The country labeled cryptocurrencies as gambling tools before blocking access to leading exchanges, including Binance.

Nevertheless, the Indian cryptocurrency market continues to evolve, and Shiba Inus current popularity showcases the increasing faith in digital coins as legitimate assets.

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Is The Solana Price Rally Over? SOL Growth Stalls as New Altcoin Sees Promising Growth – CryptoPotato

Solana (SOL) took the crypto world by storm throughout November and early December, with incredible gains of over 490% that helped push the token to a high of $125.65.

However, since that peak, SOL has struggled to regain momentum, prompting some investors to ponder whether the tokens rally is finally over.

With SOL closing in the red for three consecutive days, its now trading at around $105.80, marking a 16% decrease from Mondays price.

This retracement comes as trading volumes and hype have cooled off following the buying frenzy over the past 12 weeks.

From a technical perspective, Solana had become massively overbought by mid-December.

The RSI reached peak levels above 85 on the daily time frame, indicating that a correction was looming.

Now that the RSI has normalized back to 65, SOL may find support around the $100 level, which is seen as a crucial psychological barrier.

If the bearish trend persists, SOLs 50-day exponential moving average (EMA) near $75 may act as a support level.

A by-product of Solanas dip is that Binance Coin (BNB) has flipped SOL in market cap to become the worlds 4th largest cryptocurrency.

Daily spot trading volumes have also taken a slight hit suggesting that investors are reassessing their positions.

While Solana struggles, its main rival, Ethereum (ETH), has started gaining bullish momentum.

ETH has climbed over 7% in the past few days to around $2,340, significantly outperforming SOL during the same period.

As a result, the SOL/ETH pair has dropped sharply, suggesting that traders are rotating capital out of SOL and into ETH.

This rotation again raises questions about Solanas ability to maintain strength as Ethereum recovers.

Adding further pressure is the decline in Solanas total value locked (TVL), which has dropped by around $100 million since December 26, according to DeFiLlama.

With less SOL locked into ecosystem apps, more supply is freely circulating and potentially hitting the market.

This potential increase in selling liquidity is also hampering Solanas price growth.

Regardless, many traders believe that the current pullback is only temporary and that SOL will regain its footing once the market sentiment shifts.

As Solana loses steam, the timing may be right for a new player to emerge and captivate the crypto community.

One project aiming to do just that is the ambitious Bitcoin Minetrix (BTCMTX) project, which seeks to shake up the crypto mining scene.

Bitcoin Minetrixs main feature, Stake-to-Earn, allows everyday investors to participate in BTC mining without advanced hardware or technical expertise.

This is achieved by investors staking BTCMTX tokens to earn cloud mining credits, which can be used to mine BTC virtually or exchanged for a share of the associated mining yields.

On top of that, Bitcoin Minetrix also has a staking protocol offering yields of 95% per year, paid out in BTCMTX tokens.

These two lucrative earning mechanisms make Bitcoin Minetrix an exciting new entry to the crypto space.

As disillusionment with Solana sets in, Bitcoin Minetrix could attract investors searching for alternative tokens with clearer prospects.

Although still in its presale phase, Bitcoin Minetrix has already secured over $6.6 million in funding.

Stage 16 of the presale is ongoing, allowing early investors to buy BTCMTX tokens for $0.0125 before their exchange debut.

More than 7,900 people have joined Bitcoin Minetrixs Telegram channel, showcasing the significant community interest in the project.

In summary, as SOL experiences a downturn, Bitcoin Minetrix appears well-positioned to capitalize, thanks to its innovative blend of crypto mining and DeFi tokenomics.

Visit Bitcoin Minetrix Presale

Disclaimer: The above article is sponsored content; its written by a third party. CryptoPotato doesnt endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

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Top Altcoins to Buy December 29th: MINA, ORDI, AXS – CoinGape

Top Altcoin: A healthy retracement in Top Altcoins like MINA, ORDI, and AXS offers buyers an opportunity to accumulate at market dips

Published December 30, 2023

Top Altcoin: As the cryptocurrency market prolongs its ongoing correction trend, the Top altcoins like MINA, Ordinals(ORDI), and Axie Infinity(AXS) can provide suitable dip opportunities as the overall market trend remains bullish.

In the last 24 hours, the top two leading cryptocurrencies Bitcoin and Ethereum show a decline of 1.46% and 1.41%, trading at $42080 and $2313 respectively.

The global cryptocurrency market capitalization currently stands at $1.65 trillion, reflecting a 1.45% decline in the past day. Meanwhile, the total volume of cryptocurrency transactions in the last 24 hours has reached $70.21 billion, marking a 12.23% reduction.

Also Read: Heres the Last Bitcoin Options Expiry of the Year 2023, Heres What the Data Tells

The MINA coin price has demonstrated remarkable resilience, maintaining a stable position above the $0.675 mark. This stability led to a significant recovery, as evidenced by a 98% surge in its value over the past two weeks, bringing the trading price to $1.34.

A key factor in this rally was a breakout from the $1.246 neckline resistance of a bullish double-bottom pattern, a classic indicator of investor accumulation and a potential trend reversal. The recent 5.5% increase from the $1.24 neckline support further solidifies Minas position above this critical threshold, suggesting a continued upward trajectory.

Should this pattern hold, theres an expectation for The mina price to increase by another 62%, targeting a potential high of $2.16. This bullish outlook is further supported by the expansion in the upper boundary of the Bollinger Band indicator, signaling a dominance of buyers in the market

Cardano(ADA) has entered a phase of consolidation after its aggressive rally from mid-October to mid-December. Struggling to break past the $0.68 resistance, the ADA coin is currently trading at $0.6, following an 11% decrease over the last 48 hours.

The price movement, oscillating between an ascending trendline support and a horizontal resistance, forms an ascending trendline pattern a bullish continuation indicator. This pattern suggests that the Cardano price might soon approach the lower trendline, which could act as a springboard for buyers to challenge the $0.65 barrier.

A successful breakout from this level could signify a sustained uptrend, potentially leading to a 60% recovery towards the $0.85 mark.

The rising slope of the 20-day EMA provides additional support, bolstering the likelihood of this upward movement

The Axie-Infinity(AXS) coin has been on a steady climb within a rising channel pattern, marked by parallel trendlines serving as dynamic support and resistance. In October this consistent growth gave a bullish breakout above the upper trendline, signaling a shift toward a more aggressive rally.

This breakout led to a significant surge in Axie-Infinity price, reaching a 10-month high and marking a 175% growth over two months. However, the broader market correction has prompted a slight pullback in AXSs price, now trading at $9.11.

This correction may lead to a retest of the breached resistance trendline, now acting as support. If AXS maintains its position above this new support level, its poised for another rebound, potentially reaching target levels of $11.6 and subsequently $14. The RSI slope, currently above 64%, indicates a supportive market sentiment for this recovery trend.

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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Top Altcoins to Buy December 29th: MINA, ORDI, AXS - CoinGape

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Top altcoins to watch in the crypto market in 2024 – Finbold – Finance in Bold

The cryptocurrency market is concluding 2023 on a high note, marked by Bitcoin (BTC) taking the lead. The pioneer cryptocurrency has surged, breaking the $40,000 resistance zone, and there is anticipation that the gains will likely extend into the new year, especially with catalysts such as potential spot exchange-traded fund (ETF) approval and halving.

With Bitcoin predominantly in the green zone, attention has shifted to altcoins and their potential to rally. Its worth noting that Bitcoin gains often influence the overall market, and several altcoins are presenting investment opportunities moving into 2024. In this regard, Finbold has identified the following altcoins worth watching in 2024.

Solana (SOL) is currently on a bullish run following its surge past the $100 mark. These gains underscore Solanas resilience in navigating the 2022 bear market, during which the crypto faced the threat of significant devaluation due to its association with the collapsed FTX crypto exchange.

While Solanas upward trajectory aligns with overall market sentiment, the rally is also linked to selling Saga phones loaded with BONK airdrops. The resulting frenzied selling has positively impacted onchain metrics.

For instance, as of December 24, the number of active Solana network addresses surged by almost 50% compared to November, reaching over 15.6 million. At the same time, the total locked value on the Solana network has soared, reaching the $1.5 billion mark on December 26.

These factors have contributed to a year-to-date surge in SOL gains, surpassing 750%, with most of this growth occurring in the last two months alone. Notably, buying pressure has remained robust despite substantial selling pressure from the bankruptcy estate of the FTX crypto exchange, which held billions of dollars worth of SOL.

Looking ahead to 2024, Solana retains key fundamental elements poised to fuel a sustained price rally. Its appeal lies in high-speed transactions and low fees, positioning the platform as a competitor to Ethereum. However, its important to note that SOLs progress will depend on other factors, such as the general market trajectory.

By press time, SOL was valued at $116, with weekly gains of almost 50%.

In recent months, Polkadot (DOT), an open-source protocol, has emerged as a standout altcoin aiming to break the crucial $10 resistance zone. Notably, the tokens gains are accompanied by impressive on-chain metrics, including a surge in network activity that has boosted blockchain revenues.

As of December 21, Polkadots relay chain achieved a significant milestone with one million transactions in a single day. This surge in activity is attributed to inscriptions, which, similar to Bitcoins Ordinals, serve as data embeds. Since their launch this year, inscriptions have proven to be a driving force behind on-chain transactions and revenue.

In addition to its on-chain success, Polkadot is positioned for potential further growth with recent partnerships. The network inked a deal with a division of Deloitte. Under this collaboration, the firm will leverage the Polkadot-based Kilt blockchain to provide logistics and supply-chain services focused on the shipping industry.

While the surge in transactions aligns with the current growth in DOT prices for 2023, concerns have arisen about inscriptions potentially causing network congestion. Critics argue that inscriptions may act as network spam, dissuading users due to associated increases in transaction fees.

The sustainability of inscriptions and their potential to attract more users remains uncertain. Nevertheless, Polkadot has thus far demonstrated its ability to manage the increased transaction volume.

Enthusiasm is building within the community for the imminent technological advancements set to enhance the Polkadot ecosystem. Notably, the highly anticipated milestone is the debut of Polkadot 2.0, ushering in parachains, cross-chain compatibility, and on-chain governance to the ecosystem. Of utmost significance, Polkadot 2.0 will elevate the networks consensus mechanism to Nominated Proof of Stake (NPoS), promising heightened security and governance capabilities.

By press time, DOT had recorded weekly gains of almost 35%, trading at $9.12.

The value of XRP has largely remained consolidated despite the legal clarity declaring the token not a security in the Securities and Exchange Commission (SEC) case against Ripple. Indeed, insiders in the XRP community have questioned the price trajectory, terming it as very strange.

Despite the apparent stall in price, XRP has several bullish elements likely to spur a price rally in 2024. As reported by Finbold, XRP has the potential to rally past the crucial $1 mark in 2024, driven by factors such as an overall bullish pattern on the XRP chart and the potential for an initial public offering (IPO) for Ripple.

In the meantime, the progress in the SEC case will likely play a crucial role in determining how XRP moves, with possible appeals currently in consideration.

Nevertheless, from a technical standpoint, despite facing two significant rejections at $0.7, the XRP chart displays a pattern of sideways consolidations linked to increased holder behavior.

Notably, if XRP manages to breach the current minor resistance at $0.65, there is potential for a surge beyond $0.8, with a subsequent target surpassing $1.

As of press time, XRP was valued at $0.63 with daily losses of about 1.5%, while on the weekly chart, the token has slight gains of about 1.6%.

While the highlighted cryptocurrencies exhibit potential underlying bullish scenarios, it is crucial to note that they remain susceptible to overall market sentiment, as well as external factors such as regulatory changes.

Disclaimer:The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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The 4 Tokens Every Investors Stocking Should Be Filled With This Cryptomas! Bonk (BONK), Solana (Sol), Pullix (PLX … – CryptoDaily

Table of Contents

Investors and traders are currently amassing tokens this Cryptomas in anticipation of the massive rally in 2024. Fortunately, analysts have picked four top altcoins that should be on every Investor's watch list. They include Bonk, Solana, Pullix, and Chainlink.

Bonk (BONK) has had a meteoric price performance towards the end of 2023. It witnessed massive price surges, soaring as much as 10,000% over 52 weeks. However, looking at its more recent performance, the picture is bearish. Bonk has increased by 292.3% in the last 30 days.

Bonk's price, on the other hand, has decreased 26% in the last week, trading between $0.00001469 and $0.00002211. Analysts remain optimistic about the altcoin. They forecast a price increase of $0.00004291 in 2024.

In December, the price of Solana (SOL) fluctuated significantly. The altcoin even eclipsed Ripple and Binance Coin to become the world's fourth-largest coin.

Solana (SOL) has passed the $100 milestone, raising user excitement and interest in the project. The Solana price has climbed by almost 40% in the last week, reaching a 7-day high of $123.68, according to CoinMarketCap.

Despite its recent price drop to the $100 region, analysts are still bullish on the token. They have predicted the price of Solana to rise to $150 in the coming weeks.

Pullix (PLX) has become a major token for investors looking for the best crypto to buy this Cryptomas. The token has been able to soar with the rest of the crypto market, with more gains on the way. Let's see what the Pullix project is all about. Pullix combines the best aspects of DEX (decentralized exchanges) and CEX (centralized exchanges).

Also, a major feature of Pullix is its offering of a broad range of assets, including cryptocurrencies, all under one account. This enables users to easily access various financial markets, including Forex, which saw a daily volume of $6.6 trillion in 2019, as per the Triennial Central Bank Survey.

Meanwhile, PLX, the native token of Pullix, plays a top role in the platform's ecosystem. Under the "Trade-to-Earn" model, PLX token holders are entitled to a portion of the platform's daily earnings.

Currently, PLX is priced at just $0.07 and is in the fifth stage of its presale, soon progressing to the sixth stage. The demand for PLX is so significant that experts forecast a 100x increase after its launch in January 2024. This makes Pullix's PLX the best crypto to buy for investors looking for tokens to amass this Cryptomas.

Chainlink (LINK) has emerged as one of the top-performing cryptocurrencies in 2023. Since the beginning of the year, the Chainlink coin has soared by over 170%.

It has surpassed Bitcoin, which has seen a rally of around 160% during the same period. A key factor in Chainlink's price rally could be its successful collaboration with SWIFT in September.

Additionally, the adoption of Chainlink's Cross-Chain Interoperability Protocol (CCIP) by various financial institutions may have further fueled its upward trajectory. At the moment, the Chainlink coin is valued between $14.10 and $16.52 on the weekly chart.

While you are stocking up coins this Cryptomas, do not forget these top altcoins Bonk, Solana, Pullix, and Chainlink. Analysts have forecasted huge gains for all four tokens.

For more information regarding Pullixs presale see links below:

Visit Pullix

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Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

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The 4 Tokens Every Investors Stocking Should Be Filled With This Cryptomas! Bonk (BONK), Solana (Sol), Pullix (PLX ... - CryptoDaily

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Ethereums price teeters: What about its bullish prediction? – AMBCrypto News

According to Whale Alert, a whale sent 14,610 Ethereum [ETH] tokens to the Coinbase exchange on the 30th of December. The transaction was the second one within 12 hours after an initial transfer involving 9,991 ETH.

As of this writing, the value of the transaction was worth $33.50 million. The move is a sign that the altcoin might be at risk of selling pressure.

If the cryptocurrency keeps experiencing a high inflow into exchanges, then the price could drop from $2,220.

Interestingly, the last week of 2023 has given the ETH a turnaround. On the 28th of December, the value of ETH hit $2,415 as AMBCrypto reported.

This increase gave the Ethereum community a glimmer of hope that the ETH price season to shine was close.

However, the past few days indicated that ETH holders might need to wait a little longer for an extended rally. But what do traders think of the price action?

AMBCrypto analyzed ETHs funding rate via the crypto analysis tool Santiment.

Funding rates show if long are paying a funding fee to shorts. It also indicates if its the other way around. If the Funding Rate is positive, then most traders are bullish. Also, a negative Funding Rate suggests more short positions than longs.

At press time, ETHs Funding Rate was 0.031%. This reading suggested that traders were bullish on the price at press time.

Another metric to consider in assessing market perception toward ETH is the Weighted Sentiment. From the chart above, the Weighted Sentiment had dropped from 2.47 to 0.48.

The decline suggested the broader market was being careful in betting on the Ethereum native cryptocurrency.

Regarding the Open Interest, Coinglass showed that the indicator had risen to $8.40 billion. Open Interest measures market sentiment and strength behind price trends.

So, the increase means that money was flowing into contracts related to ETH. However, it could also be a sign of strength for the downward trend ETHs price was going through.

From the ETH/USD 4-hour chart, the altcoin had felt the impact of the sell-offs as the price decreased to $2,290. A look at the Awesome Oscillator (AO) also showed that the momentum around the coin was bearish.

At the time of writing, the AO was -10.45.

Should the indicator remain that way, then ETHs price might plunge further. Another indicator to consider was the Fibonacci Retracement. At press time, the 0.786 Fib Retracement level was at $2,215.

Is your portfolio green? Check out the ETH Profit Calculator

This position indicated that ETH might drop to the region as long as selling pressure remained.

However, $2,215 could be a good entry. This is because ETH has the potential to rebound, since the price was a previous support level for the altcoin.

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Ethereums price teeters: What about its bullish prediction? - AMBCrypto News

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Altcoins May Soon Fall Into the Sell the News Trap: Did the Bears Diffuse the Santa Rally? – Coinpedia Fintech News

The altcoins have gained extreme strength since the middle of October, which has lifted the markets close to the crucial resistance levels. With a nice push beyond the levels, the altcoins are expected to trigger a fresh upswing, which may even trigger a strong AltSeason. The markets appear to be allowing reloading and accumulating, as the biggest wave seems to be fast approaching.

A popular analyst, anonymously known as Stockmoney Lizards, points towards the altcoin market cap, which is heading towards the 2.618 FIB Extension level. The levels are expected to hold on around these levels for a few more days, and the ETF news is likely to lead to a short spike to achieve the levels around $235 billion. However, the analyst believes the levels could face rejection as they may fall into the trap of buy the rumour, sell the news..

Besides, Bitcoins dominance drops heavily and breaches the ascending trend line that it held since December 2022. The levels continue to mark fresh lower lows, and a weekly close below or within the levels may confirm the potential breakdown of the uptrend. This may offer the altcoins a great opportunity to propel and lay down a fresh upswing ahead.

The BTC dominance hit the yearly ATH of 55.26% a few days ago, and since then, the levels have continued to drop heavily. The dominance has dropped by over 6.5% and enters the crucial support zone between 51.69% and 52.03%. A weekly close below these levels that appears to be very likely may set the foundation for a strong AltSeason.

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Altcoins May Soon Fall Into the Sell the News Trap: Did the Bears Diffuse the Santa Rally? - Coinpedia Fintech News

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Top Analyst Flips Bullish on Ethereum Layer-2 Altcoin, Says Clear Skies Ahead for One DeFi Crypto – The Daily Hodl

A crypto strategist who nailed the top of the Bitcoin (BTC) bull market in 2021 believes that one Ethereum (ETH) scaling solution thats trading under the radar will see a burst to the upside.

Pseudonymous crypto strategist Pentoshi tells his 727,200 followers on the social media platform X that hes bullish on Arbitrum (ARB).

According to the analyst, ARB will likely receive a shot in the arm if it manages to take out its immediate resistance at $1.70.

I think it needs to get over $1.70 to really get anyone excited. Has a great shot at trading up there near term.

At time of writing, ARB is trading for $1.38.

The analyst is also keeping an eye on Injective (INJ), a decentralized exchange that aims to offer a variety of financial products including spot trading and futures. According to Pentoshi, its clear skies for INJ as there is no resistance left to stop the altcoin from price discovery.

This is one of the craziest charts in the entire space, and currently in price discovery. So right now its clear skies. I dont know if you get it, but I think under $30 is a buy if given the chance.

At time of writing, INJ is trading for $42.14.

The analyst is also looking at Optimism (OP), another layer-2 altcoin. According to Pentoshi, OP also has no known resistance left after breaking its recent all-time high at around $3.29.

About to begin price discovery Often around discovery is a great time to buy as its likely to have continuation after some consolidation.

At time of writing, OP is worth $3.42.

Generated Image: Midjourney

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Top Analyst Flips Bullish on Ethereum Layer-2 Altcoin, Says Clear Skies Ahead for One DeFi Crypto - The Daily Hodl

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Solana is up 95% in December But why are AVAX, INJ, NEAR surging even higher? – Cointelegraph

Solana (SOL) is up a whopping 95% in December, outperforming its top layer-one (L1) blockchain token rival, Ether (ETH), which rose merely 9.5% in the same period.

SOL outperformed ETH for several reasons this month. But it isn't the only L1 token to have attained attractive returns in the month. Let's take a closer look at three major tokens that are even beating Solana as the year winds down.

Avalanche (AVAX), the tenth-largest crypto by market cap, has outperformed Solana in December, rising 104.75% month-to-date (MTD) to around $44.

Interestingly, Avalanche's MTD rally follows the unlocking of 9.54 million AVAX tokens in late November, indicating that markets absorbed the additional token supply without hurting its valuation.

That suggests a strong underlying demand for AVAX, particularly against the backdrop of Ethereum's rising gas costs in December. For instance, at the beginning of the month, Avalanche's median gas cost was $0.051 per transaction compared to Ethereum's $4.66.

From a technical outlook, there exists a visible divergence between AVAX's rising prices and falling momentum.

Notably, AVAX's price has formed higher highs, and its daily relative strength index (RSI) has made lower highs throughout December, indicating a bearish divergence. In other words, the cryptocurrency's bull run could be nearing exhaustion.

As a result of this divergence, AVAX's price could drop toward the support confluence comprising of its 0.383 Fib line near $33 and 50-day exponential moving average (50-day EMA; the red wave) near $31.50 by New Year's or in January 2024.

Near Protocol (NEAR) has surged over 125% MTD to $4.20. The ascent occurred simultaneously with a 350% rally of NEKO, a memecoin project associated with the Near Protocol, which gained considerable traction in December.

Strategic partnerships, such as the one with Polygon Labs for developing zkWASM and with US-based IDS Inc., have further bolstered the Near Protocol project.

Technically, NEAR's weekly RSI stands overbought, indicating bullish exhaustion that may result in a consolidation or a correction.

So, NEAR price may correct toward its June-October 2022 support level of around $2.90 by early January 2024. A decisive close below $2.90 could have bears test the 50-week EMA (the red wave) nar $2.18 as their next downside target.

Injective Protocol (INJ) has jumped over 108% MTD to $38.30, a rally partly fueled by the broader boom in artificial intelligence (AI) tokens, given Injective, as a layer-1 blockchain, integrates AI with decentralized finance (DeFi).

The surge in the price of Injective Protocol's INJ token can also be linked to a trend among airdrop farmers. These individuals actively move between different blockchains to collect newly-issued token airdrops.

Analyst Crypto Kaduna highlighted multiple projects built on Injective Protocol, noting that these projects have confirmed plans for airdrops.

This anticipation of new airdrops has contributed to the rising interest in INJ tokens.

Like NEAR, INJ risks correction due to its excessively overbought status.

Related:Bitcoins third straight month of gains fuels altcoin comeback

Notably, the cryptocurrency's three-day RSI reading has been above 70 throughout December. At the same time, its price is treading near a mult-month ascending trendline resistance near $42, raising its possibilities of undergoing a correction or consolidation course next.

A pullback from the ascending trendline resistance could have traders eye a decline toward INJ's ascending trendline support near $18. This level, down more than 50% from current price levels, has served as resistance in November 2023 and September 2021.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Solana is up 95% in December But why are AVAX, INJ, NEAR surging even higher? - Cointelegraph

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