Category Archives: Altcoin
Cardano (ADA), Other Altcoins Plummet, Why Is Crypto Crashing Today – CoinGape
The crypto market continues to struggle and is crashing as the global macroeconomic situation remains poor. Bitcoin prices continue to be struck in the $19K range. It fell by over 1% in the last 24 hours and is currently trading at $19119.
However, the altcoin market is suffering far worse from the bearish sentiments. Ethereum fell close to 2% in the last 24 hours and is trading at $1289. XRP broke its bullish movement in the past weeks and lost close to 7% in the last 24 hours. It went down by 1.5% in the previous 24 hours and is trading at $0.4429.
Cardano is also one of the losers in the crypto market in the last 24 hours. Cardano fell close to 3% in the last 24 hours and is still showing bearish tendencies. ADA is currently trading at $0.4203.
The global macroeconomic condition is putting pressure on the crypto market. The Federal Reserve continues to take a hawkish stance to curb inflation levels. The Personal Consumption Expenditure for the month of August showed an acceleration in the inflation levels of the US.
The core PCE, which excludes food and energy prices, rose by 0.6%. The PCE is one of the most important gauges for inflation levels in the US. Experts believe that the Federal Reserve prefers it over the Consumer Price Index. The latest CPI also showed that the Fed is unable to curb inflation levels.
Oil prices are also adding pressure to the global economy. The Organization of the Petroleum Exporting Countries has decided to cut production to raise prices. As a result, oil prices have jumped. If this continues, inflation will continue to increase.
The Federal Reserve will make its next decision on interest rates in November. However, speech from Federal Reserve officials can impact the crypto market. Similarly, key data points may also create disturbance in the global economy.
Nidhish is a technology enthusiast, whose aim is to find elegant technical solutions to solve some of society's biggest issues. He is a firm believer of decentralization and wants to work on the mainstream adoption of Blockchain. He is also big into almost every popular sports and loves to converse on a wide variety of topics.
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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Cardano (ADA), Other Altcoins Plummet, Why Is Crypto Crashing Today - CoinGape
Dogecoin Price Is Set For A Sharp Rally If It Breaks This Barrier – CoinGape
Published 2 days ago
Like many major cryptocurrencies facing high volatility during the last few weeks, the Dogecoin price has resonated between $0.655 and $0.566 for nearly five weeks. This narrow range accentuates uncertainty in coin holders but reveals a well-known technical setup to take a trade.
Source-Tradingview
The daily technical chart shows a rectangular pattern where the Dogecoin price keeps resonating between the aforementioned levels. The altcoin has repeatedly retested the extreme levels for this pattern, indicating that traders are actively responding to these levels.
Furthermore, altcoin witnessed a significant inflow today, backed by a rumor that dogecoin will be the native token for Twitter after the Elon musk takeover. As a result, the coin price jumped 8% today and retested the $0.655 resistance.
With a strong pump in volume activity, the buyers attempt to reclaim this monthly resistance. A daily candle closing above the $0.655 resistance will provide a higher footing for buyers and resume the prior recovery.
This post-breakout rally may drive the prices 16% higher to hit $0.76.
On a contrary note, if the Dogecoin price remains below the $0.655 resistance, the ongoing consolidation will extend for a few more sessions.
EMAs: the rising coin price reclaims the 20-and-50-day EMAs
MACD indicator: A bullish divergence in MACD and signal line concerning the sideways price action indicates growing bullish momentum. Moreover, these lines may soon jump above the neutral line offering additional confirmation for bulls.
Bollinger band indicator: the sudden price hits the indicators upper band, which provides an additional barrier against buyers. Previously a retest to this level has triggered a new bear cycle within this rectangle.
From the past 5 years I working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. raech out to me at brian (at) coingape.com
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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Dogecoin Price Is Set For A Sharp Rally If It Breaks This Barrier - CoinGape
Trending PancakeSwap Coin May Soon Hit The $5.5; Enter Now? – CoinGape
Published October 4, 2022
The crypto market faced multiple sell-offs over the past three months caused by events such as High CPI data, US Fed interest rate hikes, etc. This intense selling pressure caused even the major cryptocurrencies to revisit their 2022 low. However, fighting-off such affairs, the Pancakeswap coin price has maintained a steady rally using a long-coming support trendline
Source- Tradingview
The pancakeSwap coin price has shown steady growth with new higher highs and highs and lows over the past three months. During this rally, altcoin retested the ascending support trendline multiple times, indicating the traders are actively buying at this support.
Furthermore, the last bull run turned down from the multiple-month resistance level of $5. The bearish reversal tumbled 8.5%, where it retested the $4.55 flipped support. The altcoin rebounded from this level, indicating the buyers have obtained suitable support from it.
The pancakeSwap coin price rising for three consecutive days registered 4.2% gains. However, the volume activity depleting with rising prices indicates weakness in bullish momentum.
Thus, if the trading volume doesnt pick up, market traders may witness a reversal from the $5 psychological level and keep wavering above $4.55 support. Anyhow, a great entry opportunity to buy CAKE tokens will be when the price shows a reversal sign at the rising support trendline.
Moreover, a breakout from $5 will give an additional confirmation for prolonged recovery and may drive the prices 9.5% higher to hit the $5.5 mark.
On a contrary note, a breakdown below the ascending trendline will cause a significant correction in the Pancakeswap coin.
Relative strength index: the daily-RSI slope is rising higher if bullish territory indicates the market sentiment supports price recovery.
EMAs: the upswing in crucial EMAs(20, 50, and 100) gives additional confirmation. Moreover, the 20-day EMA is offering constant support to trending coin price.
From the past 5 years I working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. raech out to me at brian (at) coingape.com
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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Trending PancakeSwap Coin May Soon Hit The $5.5; Enter Now? - CoinGape
Crypto Trader Says One Altcoin Thats Exploded 120% This Month Is About To Nuke Heres His Target – The Daily Hodl
A widely followed digital asset trader and analyst is predicting a massive fall in price for a heavily traded cryptocurrency.
Pseudonymous crypto analyst and trader Altcoin Sherpa tells his 183,500 Twitter followers that the original utility token of the collapsed Luna ecosystem, Luna Classic (LUNC), is going to nuke.
According to Altcoin Sherpa, he can only buy LUNC for the short term, preferably if it falls to the key Fibonacci levels of 0.5 (50%) and 0.618 (61.8%).
LUNC: Still a massive shitcoin, I would only long at the 0.50 and 0.618 as scalps. Look higher for any potential shorts; this one is going to nuke to hades eventually. Dont buy this for the long term in my opinion.
Despite the collapse of the original Luna ecosystem, LUNC is heavily traded and constantly features among the top ten most traded crypto assets by volume. At the time of writing, LUNC was the ninth most heavily traded crypto asset, having recorded trading volumes of approximately $745 million over a 24-hour period.
Over the past 30 days, LUNC has soared by over 120%. At the time of writing, LUNC is trading at $0.000279, having gained approximately 121% from the low of $0.000126 it hit on August 31st.
Altcoin Sherpas bleak prediction for LUNC coincides with the news that the founder of the collapsed Luna ecosystem, Do Kwon, is being sought by the police. According to a recent report, Interpol has issued an international-wanted-persons notice for Kwon on behalf of South Korean prosecutors.
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Crypto Trader Says One Altcoin Thats Exploded 120% This Month Is About To Nuke Heres His Target - The Daily Hodl
This Is When The Altcoin Market Will Enter Final Capitulation Period, Per Analyst – Coinpedia Fintech News
Along with Bitcoin, altcoins too have been the prey of extreme volatility since a while now. Just a couple of days before the market appeared to be recovering but that couldnt hold on for long as the currencies dropped.
While the currencies struggle for a bull run, one of the known analysts is predicting more losses for altcoins in the days to come. On the other hand, even altcoins market valuation has dropped from 2021s $900 billion to $200 billion at present.
In a new strategy video, the analyst who is known as Pizzino informs his 276,000 subscribers over his Youtube channel that the present market cap of $221 billion is about to see its further pull down until next year. This $221 billion market cap doesnt include Bitcoin (BTC), Ethereum (ETH) and stablecoins.
The analyst claims that he has talked about this quite a few times where he has claimed that the crypto market is entering into the final capitulation period, especially when the crypto market cap dropped towards $550 billion. As the market cap has dropped towards $200 billion, he believes that we are almost near the capitulation period. Furthermore the analyst asserts that there will be a further drop of 23% declining towards $170 billion which was the reading during 2018.
As the crypto markets volatility continues, the analyst suggests that the altcoin market will soon plunge nearly 20% to 60% as there is an anticipation for another crash in the next one year.
He is of the opinion that once the altcoin market drops 20% to 60% we will see a final capitulation period and the market will continue downward. He says that while this happens Bitcoin will rise up again and reclaim its King position and this he expects to happen in the course of another one year.
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This Is When The Altcoin Market Will Enter Final Capitulation Period, Per Analyst - Coinpedia Fintech News
Ethereum-Based Altcoin Soars 30% in One Week, Massively Outpacing Bitcoin and Overall Crypto Market – The Daily Hodl
One Ethereum (ETH)-based altcoin is surging by nearly 30% this week as it outpaces both the king crypto and the overall digital assets market.
Interoperable blockchain network Quant (QNT) has sparked a rally over the last seven days, going from $103.14 on September 14th to $133.34 at time of writing, a nearly 30% gain.
QNT has risen significantly compared to top crypto asset Bitcoin (BTC) and the total market cap of all crypto assets, as they have gone up 3% and 4% respectively during the same time frame.
According to market intelligence firm Santiment, trading activity centered around Quant has risen significantly during the last month and week, supporting the crypto assets rise.
Quant has been climbing the market cap ranks as of late. Among the top 100 assets in crypto, it has the second-best returns in the past month, and best in the past week. Volume, daily active addresses, and whale accumulation have all supported QNTs rise.
Santiment further finds that traders currently purchasing QNT are retail investors rather than those holding at least $1 million worth of the digital asset, who are doing the opposite and selling their tokens.
If we look at holders distribution, we might notice that retail holders seem to be the ones buying QNT. A larger group of holders, QNT millionaires, holding from up to $1M worth of Quant, doing [the] opposite, they are offloading.
Though Quant has seen a massive rise during the last week, its still much lower than its all-time high of $311.72 set in September of last year.
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Ethereum-Based Altcoin Soars 30% in One Week, Massively Outpacing Bitcoin and Overall Crypto Market - The Daily Hodl
Litecoin Price Recovers But The Bears Might Drag The Altcoin To $51 – NewsBTC
Litecoin price had been staggering too, just like other major altcoins in the market. Over the last 24 hours, however, LTC moved up on its chart by 2.4%.
The bulls have yet to steady themselves on the one-day chart. Over the last week, LTC gained almost 3%. This indicated that the coin has not made any such considerable movement on its chart.
The bears were in charge of the altcoin, as indicated by the technical indicators. There is a significant immediate resistance for the Litecoin price to overcome.
The buyers were low in the market, and that has tired the bulls out consistently. At the moment, the coin has found support near the $51 price mark.
Because selling strength was greater than buyer strength in the market, the Litecoin price may not stay above that level for long.
On the other hand, if buying strength stabilises slightly, then there is a chance for LTC to move above $56. Broader market strength will be crucial for Litecoin over the next trading sessions.
LTC was trading at $53 at the time of writing. Litecoin price will witness tough resistance at the $56 price mark.
The bulls have moved closer to that price mark each time, but it has met with selling strength. Moving above the $56 price mark could help Litecoin price invalidate the bearish thesis.
The coin could experience a price ceiling at the $61 price mark. On the other hand, the support line rested at $51 and then at $43, respectively.
The amount of Litecoin traded in the last session declined, which indicated that buying strength remained low on the 24-hour chart.
LTCs indicators continued to display that the coin was in a downtrend. The sellers remained in control of the charts, which could potentially bring the coin down to $51.
If buying strength doesnt recover soon, LTC could move to $51 before it recovers on the chart again. The Relative Strength Index was below the half-line, which meant that sellers were more compared to buyers.
Litecoin price was below the half-line, which meant less demand for the coin. It also meant that sellers were driving the price momentum in the market.
The altcoin continued to paint a bearish picture, with sellers taking over on the one-day chart. The Moving Average Convergence Divergence indicates the price momentum and action.
MACD displayed red histograms, which were a sell signal for the coin. The Chaikin Money Flow measures the capital inflows and outflows in the market.
CMF was below the half-line, which meant that capital inflows were lower than outflows on the one-day chart.
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Litecoin Price Recovers But The Bears Might Drag The Altcoin To $51 - NewsBTC
Altcoin Built on Ethereum Erupts 75% in Three Days Following Patent Infringement Lawsuit With Coinbase – The Daily Hodl
An Ethereum-based crypto project is quietly outshining other digital assets as markets turn green on a relief bounce.
Veritaseum (VERI) is a global blockchain-based software that aims to provide access to peer-to-peer financial marketplaces.
Veritaseum offers a suite of various products, including a forensic research tool, a lending or rental platform, and a tokenization service.
VERI, the ERC-20 token that powers the ecosystem, has a current market cap of $93 million and is trading for $42.62.
VERI has been showing strength over the course of several days following a lawsuit against Coinbase, filed by Veritaseums creator Reggie Middleton who alleges that the crypto exchange is infringing on his patent for a value transfer technology.
According to afilingin a Delaware court, Veritaseum Capital is seeking $350 million in damages from Coinbase under the claim that the exchange is using its patent to facilitate several of its services, including Coinbase Cloud, Coinbase Pay and Coinbase Wallet.
The filing stated that Coinbase has been raking in a substantial amount of its revenue using Middletons technology.
While the connection between VERIs price action and the lawsuit is unclear, the Ethereum token pulled off a rally of over 75% in just over three days following news of the filing. Going from a low of just above $27 on the 24th, VERI reached a high of $47.80 on the 27th, and has held on to most of its gains at time of writing.
Coinbase has not commented on the lawsuit at time of writing.
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Altcoin Built on Ethereum Erupts 75% in Three Days Following Patent Infringement Lawsuit With Coinbase - The Daily Hodl
Will Fantom [FTM]s bullish streak of Q3 follow the altcoin as we enter Q4 – AMBCrypto News
Fantom, the scalable blockchain platform, in its latest general update, intimated its users of the growth registered on its network. According to the update, in the last three months, Fantom saw an average daily transactions count of 820,000.
With new addresses registering on the network during Q3, unique wallet addresses on Fantom stood at a total of 3.5 million. It further added that all transactions completed on the network during the quarter cost a daily average gas fee of 146 billion FTM, representing a 9% jump from what was registered in Q2.
Also impacted by the collapse of Terra in May, FTM spent the entirety of the trading month that followed chasing lows. Dropping by 40% in June, FTM started Q3 at an index price of $0.25.
The first month of Q3 was marked by a significant recovery in the cryptocurrency market. The price of Bitcoin [BTC], rose by 17%. Likewise, leading altcoin, Ethereum [ETH], registered a 57% growth in its price in the 31-day period. Not left behind, the price of FTM rallied as well in July. The altcoin closed the trading month at $0.32, having gone up by 28% within that period.
The altcoin continued on an uptrend to log a price high of $0.4091 on 14 August, after which it since embarked on a decline. According to data from CoinMarketCap, exchanging hands at $0.2347 at press time, the price per FTM was down by 73%.
At its current price level, FTM traded below the price position it started the quarter at.
As FTMs price touched various highs and lows in the last three months, key holders of the asset reacted differently. While the count of holders of 1,000 to 10,000 FTM coins increased in the last three months, those that held between 10,000 to 100,000 FTM coins took to distribution in the past 88 days.
Furthermore, the July rally caused the count of addresses holding between 1,000,000 to 10,000,000 to clinch a high of 130 addresses. Additionally, FTMs price fell, and the number of addresses also stood at 126 addresses by press time.
As for daily active addresses on the network during the quarter, the highest daily count within the three-month period was 1,118 addresses on 21 July. The number of unique addresses that traded FTM daily since fell steadily.
At press time, this was 98. With severe price fluctuations during the quarter, a sizeable number of FTM holders registered losses. The 90-day Market Value to Realized Value (MVRV) posted a negative value of -18.18%.
With the Mean Dollar Invested Age (MDIA) on a continued uptrend during the quarter, there has been some dormancy on the FTM network in the last 88 days.
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Will Fantom [FTM]s bullish streak of Q3 follow the altcoin as we enter Q4 - AMBCrypto News
This Is the Only Top Altcoin Surging While All Other Cryptos Bleed – BeInCrypto
Reserve Rights (RSR) has broken out from a two-month-long bullish pattern. It could potentially increase all the way to $0.01 after an initial retracement.
Despite the ongoing market correction that began on Tuesday, RSR has gone contrary to the market movements and managed to create a bullish engulfing candlestick.
The candlestick also served to validate (green icon) the resistance line of the previous descending wedge, from which the price broke out on Sept. 23.
The daily RSI also legitimizes the breakout, since it has moved above 50 and is still increasing. If the upward movement continues, the closest resistance area is at $0.01.
The price has not moved above it since the wick high of June 7 (red icon) and has not reached a close above it since May.
Therefore, despite the breakout, a reclaim of the $0.01 area is required in order for the bullish reversal to be confirmed.
Despite the breakout and bullishness from the daily time frame, the four-hour chart shows considerable weakness in the form of bearish divergence in the RSI (green line) and several long upper wicks, which are considered signs of selling pressure.
Moreover, the movement over the past five days has had significant overlap, suggesting that it is corrective.
If a retracement occurs, the main support area would be between $0.007 and $0.0074, created by the 0.382-0.5 Fib retracement support levels.
After it is reached, RSR could create a higher low and potentially resume its upward movement towards $0.01.
The scale of the outperformance relative to the market is better seen when looking at the RSR/BTC pair. The price created a massive bullish engulfing candlestick on Sept. 19, validating the previous breakout from a descending resistance line.
The increase was also combined with a RSI movement above 50 (green icon), further increasing its legitimacy.
If the upward movement continues, the next closest resistance area would be at 64 satoshis. As it stands, an increase towards this area is the most likely possibility.
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This Is the Only Top Altcoin Surging While All Other Cryptos Bleed - BeInCrypto