Category Archives: Altcoin
Heres Whats in Store for Pepe, Chainlink, Avalanche and One Additional Altcoin, According to Popular Analyst – The Daily Hodl
A widely followed crypto strategist is predicting whats next for a handful of altcoins, including Pepe (PEPE), Chainlink (LINK) and Avalanche (AVAX).
Analyst Michal van de Poppe tells his 657,100 Twitter followers that crypto bears are still in control of the memecoin Pepe.
Van de Poppe says that Pepes downtrend will likely persist unless bulls reclaim a key price level.
This chart continues the downtrend, which means that every block of resistance is basically an area to short, just like the $0.0000016 area.
Id prefer to see that reclaimed, if you want to long, otherwise short until $0.00000147 and $0.00000115 or even $0.00000085.
At time of writing, Pepe is trading for $0.00000158.
Next up is the decentralized oracle network Chainlink. Van de Poppe believes that LINK is still trading sideways between $6 and $6.85. According to the analyst, a breach of $6.85 will likely trigger bullish momentum for LINK.
Not showing much at this point, slight intraday bounce, but needs continuation through breaking $6.85.
If that takes place, we can start seeing a rally toward range highs again.
Until then, focused on $6 and $5.50 for potential support areas.
At time of writing, LINK is worth $6.49.
Another altcoin on the traders list is the smart contract protocol Avalanche. According to Van de Poppe, AVAX is flashing a bullish signal and could be gearing up for a burst to the upside.
This one is turning into a bullish divergence on higher timeframe support.
Nothing is confirmed as everything is tied to BTC, but reclaiming $14.80 would trigger strong confirmation on the bullish divergence for Avalanche.
At time of writing, AVAX is trading for $14.66.
The last altcoin on the analysts radar is the blockchain-based video-sharing project Verasity (VRA). Van de Poppe says that VRA is approaching a key support level at $0.00395 that could potentially trigger a bounce for the altcoin.
Marked this level months ago as a potential point of interest.
Finally, reached the area, through which longs could be played from here on VRA.
At time of writing, VRA is worth $0.0045.
Generated Image: Midjourney
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Heres Whats in Store for Pepe, Chainlink, Avalanche and One Additional Altcoin, According to Popular Analyst - The Daily Hodl
US debt ceiling impasse to devastate crypto markets as Bitcoin and Altcoin volumes plummet – FXStreet
The world economy is currently bracing for a terrible blow from the United States. As the Biden administration continues to negotiate with Congress to reach common ground, the stock market sits in a worry of impending doom. This fear is potentially also spreading to the crypto market.
US President Joe Biden and top Republican Kevin McCarthy recently engaged in discussions regarding the debt ceiling on May 22. Both parties are optimistic about reaching common ground to bring an end to the deadlock over the federal debt.
Earlier this week, US Secretary of the Treasury Janet Yellen issued a warning stating that the US debt could default within the next ten days by June 1 if the talks fail to result in a favorable decision. She stated,
"It is highly likely that Treasury will no longer be able to satisfy all of the government's obligations if Congress has not acted to raise or suspend the debt limit by early June, and potentially as early as June 1.
Additionally, Yellen noted that even a last-minute solution must be avoided as it damages the economy at the consumer, business, and government levels.
However, McCarthy, ahead of the meeting, reiterated that while the Republicans and Biden administration still have "disagreements," they will reach a decision soon.
This needs to take place as soon as possible since it would take at least another three days to write down the agreement, read and vote on it.
The global economy is on edge as fears grow over the impending week, with the failure to raise the debt ceiling beyond the current cap of $31.4 trillion potentially leading to a US debt default.
According to a White House report, it was highlighted that a debt default could lead to over 8 million job losses. Unemployment rising by such a huge figure in an instant could negatively impact not only the stock market but the crypto market as well.
The reason behind this is that the US accounts for 10% of the worldwide crypto users. Amounting to 45 million out of the 420 million crypto users, the countrys troubles present a significant threat as crypto users who lose their job could be forced to sell their holdings prematurely.
As it is, the crypto market trading volume is currently running dry, with weekly volumes noting historical lows. Santiment noted that Bitcoin and Ethereum volumes alone combined are observing the second lowest threshold since September 2019.
Crypto market trading volume
For the same reason, Bitcoin price and Ethereum price, along with the rest of the market, have been observing sideways movement for the last few days. Investors are preparing for a move in either direction post-June 1 as the result of the talks would determine profits or losses for crypto asset holders.
BTC/USD 1-day chart
The crypto market is still rooting for the talks to reach a conclusion, as even at the risk of losing some investment, the market would be safe from severe bearishness.
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US debt ceiling impasse to devastate crypto markets as Bitcoin and Altcoin volumes plummet - FXStreet
Ethereum (ETH)-Based Altcoin Is One To Watch As Whale Transactions Explode: Santiment – The Daily Hodl
Crypto analytics firm Santiment says whale transactions are soaring for one Ethereum (ETH) altcoin, and its rally may not be over.
The market intelligence firm says that the image-synthesizing ecosystem Render Token (RNDR) is experiencing both high whale transactions and an increase in the number of wallet addresses.
According to Santiment, whale transactions for Render are spiking to their third-highest level this month, which indicates some investors are selling for profits.
However, they say that prior spikes in whale transactions did not result in killing the ongoing rallies at the time.
We need to be cautious of the fact that whale transactions have spiked to its third highest day in the past month, which often is a sign of some profit taking happening. However, we do see on the previous two $100,000+ whale spikes of this size (in red, below), prices actually continued rising.
According to Santiment, a key indicator that Render Token may continue to increase in value is an increasing number of addresses holding the token.
Supporting the theory that this rally isnt over, look at how the key shark and whale RNDR addresses are continuing to rise in terms of their number of addresses. The tan line, representing wallets holding one million to 10 million RNDR, is particularly increasing rapidly. Ninety such addresses are the most in the history of the asset. And if whales were profit-taking, these numbers of addresses likely wouldnt be continuing to rise.
Render Token connects people in need of graphics processing with those whose Graphics Processing Units (GPUs) are idle.
Render is trading for $2.65 at time of writing, down 2.3% during the past 24 hours.
Generated Image: Midjourney
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Ethereum (ETH)-Based Altcoin Is One To Watch As Whale Transactions Explode: Santiment - The Daily Hodl
Bitcoin & Altcoin Trading Volumes Plunge, What Does It Mean? – Bitcoinist
Data shows the combined trading volume of Bitcoin and the altcoins have hit the lowest value in more than a year. Heres what this may mean.
According to data from the on-chain analytics firm Santiment, the volumes were last at any significant levels back in March of this year. The trading volume is an indicator that measures the daily total amount of a given asset thats being moved around on the blockchain.
When the value of this metric is high, it means the cryptocurrency in question is observing the movement of a high number of coins right now. Such a trend suggests that the investors are actively trading in the market currently.
On the other hand, low values of the indicator can be a sign that there isnt much interest in the asset among the investors at the moment, as they arent taking part in any significant transaction activity on the network.
Now, here is a chart that shows the trend in the 7-day trading volume for some of the largest assets by market cap in the sector over the last year:
As you can see in the above graph, the combined 7-day trading volume of these top assets surged back in March when Bitcoin and other coins had observed a sharp rally out of a local bottom.
Since then, however, the indicator has seen an overall downtrend, and now the metric has hit some pretty low values. This means that during the last seven days, the assets have observed transactions of a very little amount.
The current combined trading volume for these large cap assets is in fact the lowest it has been since more than a year ago. From the chart, its visible that out of these coins, only Bitcoin (highlighted in green) and Ethereum (colored in blue) have any appreciable volumes still left.
The indicators value for the altcoin market has always been pretty low in comparison to Bitcoin and Ethereum, but recently, it has seen the trading volumes really dry up.
Naturally, the current low volumes throughout the top assets might suggest that there isnt much interest in trading cryptocurrencies left among the general investor.
Generally, sharp price action such as a rally or a crash attracts a high number of users to the market because such moves are generally exciting to them. Such moves are also only sustainable if they can continue to bring attention to the cryptocurrency, as a large number of traders are needed to fuel moves of this kind.
Moves that fail to amass any significant attention, however, eventually end up dying out. Because of this reason, the latest low volumes can be a worrying sign for the sustainability of the rally in the prices of Bitcoin and other assets.
At the time of writing, Bitcoin is trading around $27,300, up 1% in the last week.
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Santiment.net
Bitcoin & Altcoin Trading Volumes Plunge, What Does It Mean? - Bitcoinist
How To Choose The Right Altcoin To Invest In: A Comprehensive … – Blockchain Magazine
May 24, 2023 by Diana Ambolis
With the rise of cryptocurrencies, altcoins have emerged as alternative investment options to Bitcoin. Altcoins, short for alternative coins, encompass a vast array of digital currencies beyond the realm of Bitcoin. Choosing the right altcoin to invest in requires careful consideration and research. This article aims to provide a comprehensive guide to help you navigate
With the rise of cryptocurrencies, altcoins have emerged as alternative investment options to Bitcoin. Altcoins, short for alternative coins, encompass a vast array of digital currencies beyond the realm of Bitcoin. Choosing the right altcoin to invest in requires careful consideration and research. This article aims to provide a comprehensive guide to help you navigate the altcoin market and make informed investment decisions.
Choosing the right altcoin to invest in requires thorough research, critical analysis, and a clear understanding of your investment goals. Consider the altcoins purpose, team, technology, market capitalization, historical performance, and risks. Conduct fundamental and technical analysis, and remain informed about the ever-changing cryptocurrency landscape. With careful consideration and diligence, you can increase your chances of finding a promising altcoin investment that aligns with your objectives. Remember, investing in altcoins carries risks, and it is crucial to seek professional financial advice when necessary.
Also, read How Bitcoin Educates Us About Finance And Economy For Better Investment
Here are the top 10 altcoins to invest in, based on factors such as market capitalization, price history, and technological innovation:
It is important to note that altcoins are a risky investment. The cryptocurrency market is volatile and prices can fluctuate wildly. Before investing in any altcoin, it is important to do your own research and understand the risks involved.
How To Choose The Right Altcoin To Invest In: A Comprehensive ... - Blockchain Magazine
Altcoin Markets Plummet as the Sandbox Dominates – Blockchain Reporter
Todays market session has been rather bearish today with the global market cap recording a decrease of 1.8% within a day of trading to take the total cap to $1.10T. Bitcoin (BTC) the crypto king is also having a rather volatile session with the asset recording a 2.15% within a day of trading as it now faces more resistance at the $27K level.
Trading at $26.2K, BTC had also seen a 3.8% loss in valuation for the week as of press time. Bitcoins market cap stood at $508,526,381,364 as of the writing as bears struggle for dominance of the market.
BTCs volatility levels are however narrowing down as the assets volatility levels continue to drop further as the Bollinger bands now move closer to each other. The relative strength index is also moving below its average line signaling a bearish trend on Bitcoin as the MACD also moves in the negative region, serving as another indicator of a bullish trend.
Ethereum (ETH) is also having a tough session as the asset also lost 2.5% in valuation as of todays early trading session. ETH, now trading at $1780, faces new resistance at the $1.8K level with the asset sitting on a 2% weekly drop as well. ETH has a current market cap of $214,173,965,088 according to CoinMarketCap data.
Other altcoins are also having a tough session with Cardano (ADA), Dogecoin (DOGE), and Ripple (XRP), all recording losses of 1% within a day of trading as Solana (SOL), Polygon (MATIC) and Tron (TRX), all recorded losses of less than 1% within a day of trade. Litecoin (LTC) is again sitting on massive drops of 4% within a day as the asset now sits on a 9% weekly drop.
The Sandbox (SAND) as however defied todays bear market, recording a surge of 4.4% within the same period to trade at $0.518. The asset had a total market cap of $959,829,436 during press time.
On todays trending list, ARPA, coming in at 5th is making headlines after recording a 4.8% gain within 24 hours to take its price to $0.1033 as of press time. The asset is also sitting on a 112% weekly gain as the monthly gain stood at a remarkable 164%.
Samoyedcoin (SAMO) has also had a remarkable start today as the asset boasts a 215% price increase within 24 hours to trade at $0.009324 as it ranked 9th on the trending assets list.
Altcoin Markets Plummet as the Sandbox Dominates - Blockchain Reporter
Navigating Altcoin Waves: LDO and LTC in Crypto Analyst’s Spotlight – CryptoGlobe
Renowned crypto trader and analyst, operating under the pseudonym DonAlt, has recently shared his perspectives on two major altcoins, Lido DAO (LDO) and Litecoin (LTC), which he currently finds interesting due to various market factors.
He points to LDO, the native token of the liquid staking service Lido DAO, as a compelling choice for investors bullish on altcoins. Despite the token significantly retracing from its previous weeks high of $2.48, the strategist maintains that LDOs robust movements suggest a potential expression of bullishness in the altcoin domain. As of the time of writing, LDO was trading at $2.09, indicating a 1.79% decrease over the previous 24 hours.
Turning his attention to the well-known peer-to-peer payments network Litecoin (LTC), DonAlt discusses why this altcoin is intriguing despite broader market conditions. He attributes his interest to the upcoming halving event for LTC. In crypto parlance, a halving refers to reducing the reward for mining new blocks by half, an event typically pre-arranged in a cryptocurrencys code and expected to occur at regular intervals.
The analyst shares his thoughts on a possible re-entry into LTC, given that the halving event is approximately 80 days away. He explains that the time-bound nature of such events is what he finds appealing, particularly if the cryptocurrency has been showing strength in trading, as is the case with Litecoin. He cautions, however, that Litecoin may not be a worthwhile trade if it does not demonstrate significant movement within the next 10 to 30 days. At the time of publication of this article, LTC was trading at $91.32, marking a 1.16% drop in the last 24 hours.
As for Ethereum (ETH), the leading smart contract platform, DonAlt observes signs of resilience despite the cryptocurrency respecting the $2,000 level as resistance. He speculates that the longer Ethereum maintains its current sideways trajectory, the more favorable it might be for bullish traders. If Ethereum can hold steady without further significant drops over the next two weeks, he suggests that long-side trades could become an exciting prospect. Currently (as of 12:00 p.m. UTC on May 22), ETH is trading around $1,814, with a modest 0.23% increase for the day.
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Navigating Altcoin Waves: LDO and LTC in Crypto Analyst's Spotlight - CryptoGlobe
ANKR Price Prediction Can the altcoin rebound after March? – AMBCrypto News
Crypto-infrastructure provider Ankr has seen major investments and partnerships over the last few months. Hence, evaluating its utility token via an ANKR price prediction is crucial for gauging recent and potential price performance for long-term holders.
One of Ankrs products, the RPC (Remote Procedure Call) endpoint, saw massive investments from Binance Labs in 2022. In fact, it is powering several startups.
So, how has ANKR faired throughout Q1 and the first half of Q2? What should long-term holders expect in Q2? Lets find some answers from the daily charts.
Read Ankr [ANKR] Price Prediction 2023-24
On the daily chart, ANKR recorded mixed performances in Q1 2023. Between January and late February, ANKR rallied by over 250%, rising from $0.01535 on 1 January to $0.05750 on 21 February. The upswing saw it retest its August 2022 levels. However, it wavered towards the end of Q1.
Extrapolated to its quarterly performance, ANKR gave over 120% gains to investors in Q1 2023. The plunge in late February/early March followed Bitcoins [BTC] drop from $25k to $20k over the same period.
So far in Q2 2023, the price has remained below $0.04000, with considerable price rejection seen at $0.03830. Overall, a huge chunk of value gained in Q1 2023 has been cleared.
ANKRs price action plateaued around March lows of $0.02550. This level also lines up with a bullish order block (OB) and support zone of $0.02428 $0.02788 (cyan).
Using the Fibonacci retracement tool, placed between December/January lows and Q1 highs, there are two key support levels to watch out for if sellers extend their gains in the next coming days/weeks.
The first support level that could offer refuge for bulls lay at $0.02000 The November plunge following the FTX saga eased at this level. The second likely support is the December/January lows of $0.01500.
How much is 1,10,100 ANKRs worth today?
A retest of these supports could be feasible if sellers seek more gains and crack the prevailing support zone of 0.02428 $0.02788 (cyan).
Conversely, ANKR could see recovery if the bulls continue to defend the current support zone. If BTC reclaims upper price zones, $28k and $29k, ANKR could rally from the March lows and retest $0.03830 or close above it.
However, the 38.2% ($0.03098) and 50% ($0.03605) Fib levels are key obstacles to consider for such a likely uptrend.
Meanwhile, the RSI (Relative Strength Index) has stayed below a neutral level since the second half of April Highlighting limited demand for the tokens. However, CMF (Chaikin Money Flow) saw considerable fluctuations in the same period Capital inflows wavered.
Now that Q1 saw exemplary gains while Q2 seems on the edge unless BTC reverses recent losses, whats the current state of mid/long-term ANKR holders? Well, Santiments MVRV (Market Value to Realized Value) metric could offer some clues.
Some ANKR long-term holders took a market cut in late February. However, quarterly holders sustained about 19% losses as of press time, as shown by the negative 90-day MVRV.
Similarly, bi-annual holders were at a loss, sustaining about -10% as shown by 180-day MVRV. This shows that bi-annual holders sustained fewer losses than quarterly holders.
Is your portfolio green? Check out the ANKR Profit Calculator
Annual holders followed bi-annual holders closely, posting about 11% losses as of press time. Put differently, the bi-annual holders category performed better than quarterly and annual holders as of press time.
Nevertheless, each holder category must contend with prevailing short-term selling pressure. According to Coinalyze, the aggregated CVD (Cumulative Volume Delta) spot has tanked significantly since mid-April.
It reinforces a bearish sentiment as it shows sellers leverage, which could dent overall Q2 performance if the trend persists in the coming months.
Ankrs massive partnerships across web3 and crypto-space saw its utility token, ANKR, post over 120% gains in Q1. The impressive performance was also marked by favorable macro-conditions.
However, macro-headwinds have intensified in Q2, with BTC fluctuations hammering ANKRs price performance. If BTCs whipsawing persists, ANKR could post more losses towards the end of Q2.
Nevertheless, bi-annual ANKR holders seem to be weathering the selling pressure better than quarterly and annual holders.
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ANKR Price Prediction Can the altcoin rebound after March? - AMBCrypto News
Ran Neuner Goes To Dump His Altcoin Holdings In Favor Of Bitcoin – Blockzeit
In a surprising turn of events, prominent South African crypto influencer Ran Neuner has recently made a bold decision that has sent shockwaves through the cryptocurrency community. Convinced by Bitcoins growing potential and recent technical advances, he just revealed his decision to liquidate his altcoin holdings and shift his focus solely to the worlds oldest and most popular cryptocurrency. This strategic move reflects his belief in Bitcoins dominance in the upcoming bull market. Lets delve into the reasons behind Neuners choice and the implications it may have for the crypto landscape.
Neuner, the host of Crypto Banter and CEO of Onchain Capital, anticipates a future riddled with economic collapses and escalating geopolitical tensions. He believes that in such uncertain times, investors will seek refuge in secure assets.
Drawing a parallel with traditional safe-haven gold, Neuner argues that Bitcoin is poised to surpass it as a preferred store of value. The recent surge in gold prices suggests that investors are already bracing themselves for potential governmental missteps.
While gold has long been regarded as a safe haven, Neuner highlights a crucial limitation: its lack of on-chain verifiability. Governments and central banks may claim to possess substantial gold reserves, but without concrete on-chain proof, these claims remain unverifiable.
The crypto investor theorizes that a government or central bank mishap involving gold could trigger a significant shift in investor behavior, leading them to flock to Bitcoin, which offers the advantage of being verifiable on-chain.
Beyond Bitcoins appeal as a safe haven, Neuner is enthralled by its recent evolution and technical advancements. He specifically points to the launch of Ordinals, which has enhanced Bitcoins functionality, making it a strong competitor to Ethereum.
The ability to issue tokens, run smart contracts, and the introduction of a Bitcoin virtual machine has revolutionized the crypto landscape. Neuner sees immense potential in the infrastructure being built around Bitcoin, making it a more promising investment prospect compared to smaller altcoins.
While Neuners decision to focus solely on Bitcoin is fueled by optimism, he acknowledges the challenges that lie ahead. Scalability remains a crucial concern for Bitcoin, and addressing it will be vital for the cryptocurrencys sustained growth.
Nonetheless, the crypto analyst advises investors to accumulate dry powder or investable cash in preparation for the impending revolution. He cautions against waiting, as other token prices might decline while Bitcoin and its associated tokens experience a surge. Neuners advice is clear: embrace Bitcoin and its burgeoning ecosystem now to maximize the potential benefits.
The paradigm shift of Ran Neuner from altcoins to Bitcoin underscores the rapidly changing dynamics in the crypto market. Motivated by Bitcoins verifiability, its evolution as a competitor to Ethereum, and the robust infrastructure being built around it, Neuner sees a bright future for the leading cryptocurrency. While challenges remain, Neuners decision resonates with a growing sentiment that Bitcoin is positioned to dominate the narrative of the next bull market.
As investors witness this shift, the crypto landscape is poised for further transformation, with Bitcoin at the forefront of this exciting revolution.
Giancarlo is an economist and researcher by profession. Prior to his addition to Blockzeits dynamic team, he was handling several crypto projects for both the government and private sectors as a Project Manager for a consultancy firm.
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Ran Neuner Goes To Dump His Altcoin Holdings In Favor Of Bitcoin - Blockzeit
Litecoin Surpasses $90, But This Level Remains Crucial For The Altcoin – NewsBTC
Despite the prevailing selling pressure in the cryptocurrency market, Litecoin has emerged as a standout performer. While the past 24 hours have not witnessed significant movement in the LTC price, the weekly chart reveals an appreciation of nearly 4%.
A significant breakthrough occurred as Litecoin surpassed the crucial $90 price level, signaling a positive shift in its price. Technical analysis suggests that the bulls hold sway over the price action, with demand and accumulation indicators displaying positive signals on the daily chart.
Most altcoins, including Litecoin, have exhibited similar price patterns influenced by the fluctuations of Bitcoin. Therefore, sustaining the LTC price above the $90 mark will depend on the overall strength of the broader market. Should Bitcoin reclaim the $27,000 zone, it could pave the way for Litecoin to overcome its significant overhead resistance in subsequent trading sessions.
While buyers of LTC currently maintain a favorable position, it is important to note that a slight push from the bears could potentially drive the price below $90, prompting bearish activity. However, the increased market capitalization of Litecoin in the recent session suggests that buyers are currently in control.
At the time of writing, Litecoin (LTC) was valued at $91.02. The altcoins successful move above the $90 threshold has strengthened the bulls, who are now pushing prices even higher.
However, a formidable barrier stands at $92.8. Surmounting this resistance level could potentially propel LTC toward the $97 mark.
Conversely, declining the current price level would push the altcoin below $90. Should this occur, support might be found at around $86. The recent sessions trading volume of LTC was positive (green), indicating a growing demand for the coin.
Buyers have displayed consistent confidence in Litecoin (LTC) as the assets price has improved. This positive sentiment is reflected in the Relative Strength Index (RSI), positioned above the half-line and just below the 60 mark.
This indicates more buyers than sellers, reinforcing the optimistic outlook. Moreover, LTCs price remains above the 20-Simple Moving Average (SMA) line, indicating that buyers are driving the markets momentum.
Additionally, LTC has managed to stay above the 50-SMA (yellow) and the 200-SMA (green) lines, pointing towards increased demand for the asset.
Litecoin (LTC) demonstrated buy signals alongside other technical indicators, suggesting favorable market conditions. The Moving Average Convergence Divergence (MACD) revealed the formation of green signal bars, indicating positive momentum and a bullish trend.
Furthermore, the Bollinger Bands, a volatility indicator, displayed wide bands, indicating increased price volatility and fluctuation. This implies that LTC is unlikely to trade within a narrow price range, as there is potential for significant price swings.
Featured Image From UnSplash, Charts From TradingView.com
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Litecoin Surpasses $90, But This Level Remains Crucial For The Altcoin - NewsBTC