Bitcoin is ‘Stuck’ With Choppy Price Action – Will it Head to the $30k Mark?
As soon as it found support around the $16K price level, Bitcoin started an incredible rise. Since then, the 100-day and 200-day moving averages of BTC have been surpassed, respectively, at $18K and $19.6K. Over the past few days, a profit-taking pullback has allowed the price of bitcoin to rebound to the $23,000 price range. Analysts have begun charting the course of Bitcoin as the market cools.
According to analyst CrediBULL Crypto, Bitcoin has taken the first set of highs. However, he found a lot of choppiness in Bitcoin’s current trading range.
He said, “Lots of choppiness in this range, looks like rather than a flat we are forming some other more complex structure. Will post another chart shortly with some key levels to watch.”
Another analyst by the name Daan Crypto Trades on Twitter had the same opinion and said that nothing has changed much for Bitcoin. He said that Bitcoin ‘is still stuck between these levels with a lot of choppy price action.’ He marked the resistance levels for Bitcoin at $22,750 and $22,900. According to him, the support levels are at $22,600 and $22,400.
Kaleo also took to his Twitter handle and said :
“Slowly but surely Bitcoin is squeezing back to the highs making late shorts pay.” The analyst also wrote, “I once again am here to remind you that Bitcoin heads straight to $30K from here.”
On Wednesday, cryptocurrency prices were moving sideways as a result of profit-taking following a decent gain in recent days. Ahead of this week’s important inflation statistics, the volatile movement in the other riskier assets put cryptocurrency traders on edge. At the time of writing, Bitcoin is trading at $22,590 and has decreased by more than one percent in the last 24 hours.
Solana To Mirror Ethereum’s 2021 Action If Bitcoin Spikes
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Solana to follow ETH’s 2021 bull run
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Bitcoin is expected to drop before a massive bull run
Since the mid of December 2022, Solana has emerged as one of the best performing altcoin with its consistent bull run. This smart contract platform which tends to follow Bitcoin and Ethereum, is just a few figures away from claiming back its lost value after FTX collapse.
Currently, Solana is valued at $23.49 with a gain of 0.22% over the last 24 hrs and 47% in the last one week.
Meanwhile, a well-known crypto analyst and strategist who is anonymously known as Inmortal informs is of the opinion that Solana might flash Ethereum’s 2021 bull rally. The analyst informs his 191,200 followers over Twitter that Solana might mirror Ethereum’s 2021 price action when ETH managed to hit its all-time high of $400.
If Solana has to perform as per the analyst claim, the altcoin should move past its crucial resistance of $60.
Bitcoin At $24K
However, Inmortal predicts Bitcoin to drop below $20,000 before it makes a move towards the $24,000 area.
Another crypto analyst known as Altcoin Sherpa also portrays his bullish stance towards Solana. He attempts to inform his 189,100 Twitter followers that Solana will see an upward rally of more than $30 if BTC moves north.
BONK Investors got Bonked! Will Solana Price Begin With Fresh Inverse Action?
The BONK price incepted the crypto markets with a blast and surged more than 300% in just a few hours. In a very less period, the Solana Shiba-INU-themed BONK gained huge attention which later impacted the SOL price which surged from a single-digit figure to as high as $13.60.
However, the BONK prices have now slashed heavily with the market experiencing a significant pullback along with Solana prices which have dropped by 3.45% and still counting.
The BONK price has been slashed by more than 70% from its highs in the past few hours, but displaying the possibility of a bullish reversal in the short-term. Therefore, the ascending consolidation may carry out for some time but may certainly not range heavily towards the upper targets situated above 50% from the current levels. Mainly due to the reason that the volume in the half-hourly chart has slumped hard. This denotes the lack of user interest since the early trading hours.
Presently, the bearish volume has intensified to a large extent and hence the price is also speculated to slice through these pivot levels and drop back towards the single-digit figure very soon. Meanwhile, the Solana price is struggling to hold above the crucial 50-day MA levels in the daily chart which is acting as strong support for the past few days. However, in the 4-hourly chart, the 200-day MA levels are still acting as strong support levels to hold on.
The price had reached the last point of defence around $7.96 and quickly rebounded to reach the interim high of around $14.14. After it marked the highs, the price is constantly consolidating within a very narrow range, but pointing towards the bottoms. In case of a bearish influence, the 200-day MA levels in the short term could act as a strong support level at $12.35.
If the Solana price successfully rebounds from these levels, then it may firmly head towards the immediate resistance at $14.94, else may drop below $10 again.
Shiba INU Price Action Appears Troublesome, May Form New Lows Before the End of 2022!
Shiba INU‘s price could be at the foothills of a major drop that may drag the price towards new yearly lows. Despite a minor recovery at the moment, the asset remains within a very consolidated region, which remains the crux of the matter. Moreover, a huge drop in the reserves is recorded, which may further intensify the bearish trend.
Therefore, it is the time when the bulls are required to step in and sweep the SHIB price from its lows.
The SHIB price has already eliminated the summer gains and also failed multiple times to reclaim the lost levels. Meanwhile, due to a drop in selling pressure, the price witnessed a minor upswing, but as the buyers have not stepped in, a flip may occur to the south any time from now.
However, the price still remains above the June lows which manifests the possibility of a decent rebound. Conversely, the volume has bottomed hard which is a huge matter of concern that may squash the possibility of an upswing. In such a case, the SHIB price is expected to mark lows around $0.00000550 which may further extend to $0.00000360 if the bulls continue to remain aloof.
Meanwhile, if the bull jumps in, a jump beyond $0.00001 is quite possible, which may further invalidate the bearish thesis. Conquering these levels may further trigger an upswing beyond $0.000013 that may lead to a price rise of more than 40% from the current levels. Therefore, the upcoming couple of weeks could be extremely crucial, as a rise in the buying volume may only prevent the Shiba INU (SHIB) price from drowning in a deep bearish well.
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Rosen, The US Law Firm To File Class Action Lawsuit Against FTX
A global investor rights law, Rosen Law Firm has decided to investigate the security claims that are raised by FTX investors. In order to support FTT investors’ claim of their loss, Rosen has now chosen to file a class action lawsuit against the firm. Hence, investors whose loss is more than $100K have been asked to get in touch with Rosen’s advocate, Philip Kim, Esq.
This is not the first time that Rosen will be getting involved with Crypto-related lawsuits. The firm had a major involvement in a class action lawsuit against TerraForm Labs executives, who were involved in Terra collapse. Though most of the investors are concerned about their funds if FTX goes bankrupt, a few crypto stakeholders are focusing on Alameda Research’s collapse.
Whales Transfer Millions of DOGE to Exchanges, Is a Major Price Action Underway?
Dogecoin price had received immense attention in recent times as Elon Musk acquired Twitter and completed the $44 billion deal. While many speculated that the asset may also be included as one of the payment options along with other cryptos, the DOGE price gained huge bullish momentum.
Woefully, the price at the moment appears to have stuck up under a bearish influence and hence is believed to drop notably in the coming days.
Meanwhile, the Dogecoin whales have become extremely active of-let as a large amount of DOGE has been transferred onto the exchanges. They have moved nearly 256 million DOGE to Binance & Coinbase despite Elon Musk’s Twitter takeover.
As per the data shared by Whale Alert which records large & interesting transfers, these tokens were moved in 2 different transactions. Initially, 212.3 million DOGE was moved to Coinbase worth $26.67 million.
Further, another transaction of transferring 43.67 million DOGE to a Binance address was recorded worth $5 million at the press time.
Despite the fact that Elon Musk hinted at the probable Twitter acceptance of Dogecoin, the DOGE price continues to slash hard. The popular token is valued at $0.1169 at the moment, with a drop of 5.06% in the past 24 hours. Meanwhile, the market cap also suffered a plunge of over 5%, but the trading volume increased by more than 27% to reach $1.4 billion, indicating the revival of bearish influence over the asset.
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Shiba INU Ready for a Larger Price Action, This is Where SHIB Price May Reach During the Weekend!
The Dogecoin price surged enormously in the past week, surging more than 165% to reach the levels it traded before the market collapsed in May 2022. Meanwhile, the upswing has largely impacted the entire crypto space, including Bitcoin, which is trading above $21,000. Meanwhile, Ethereum’s price is speculated to rise beyond $1700 in the coming days, thereby offering scope for the altcoins to thrive.
Shiba INU (SHIB) Price Analysis
Meanwhile, the Shiba INU (SHIB) price is very close to recording a large price action in the coming days as the value rises beyond the consolidation. Meanwhile, the upswing is yet to be validated, as the retest may eventually drag the price again within the pattern, pointing toward the resurgence of a bearish trend.
Shiba INU largely follows the DOGE price action, which enables the price to rise above the extended consolidation. However, the bulls are trying hard to uplift the price significantly, and as the buying pressure has been raising slightly, the possibility of an upswing emerges. With a jump, the SHIB price may initially reclaim the levels above $0.000013 and later head towards the target at $0.000015 very soon.
Shiba INU (SHIB) Technical Analysis
| Indicators/ Pivot Levels | Short Term | Long Term |
| Relative Strength Index(RSI) | 57.07 | 47.13 |
| MACD | 0.00 | 0.00 |
| Average Directional Index(ADX) | 28.32 | 13.72 |
| Bull-Bear Power | 0.00 | 0.00 |
| Moving Average (MA)-50 | $0.00001197 | $0.00001900 |
| Moving Average (MA)-200 | $0.00001103 | $0.00000713 |
| Resistance | $0.00001292 | $0.00001539 |
| Support | $0.00001248 | $0.00001013 |
The Shiba INU (SHIB) price appears to be pretty bullish in the short term, as the RSI is trading along the average ranges and attempting to rise high. Meanwhile, the MACD continues to remain neutral, as does the bull-bear power. Hence, the bullish trend is expected to flip at any time from now. However, the ADX is pretty bullish, and hence the rally is expected to regain its strength and rise high.
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Top Analyst Claims Bullish Action For Dogecoin
As Elon Musk confirmed his Twitter buyout for $44 billion, meme-king Dogecoin surged, making an upward move of more than 7% in the last 24hrs. This move has proved Dogecoin’s strong relation with Elon Musk’s actions and that he is, indeed, the self-proclaimed Dogefather. The main reason for this is that in April, Musk had claimed that he uses DOGE as a payment method for Twitter’s blue service.
In the early hours today, the Dogecoin price had captured $0.084 before experiencing a considerable setback. At the time of reporting, Dogecoin is selling at $0.081 after a surge of 7.86% in the last 24hrs.
A well-known crypto analyst and trader, anonymously known as Smart Contracter, portrays his bullish stance towards Dogecoin in the midst of the overall crypto market retracement. The analyst informs his 211,800 followers on Twitter that Dogecoin is flashing a bullish trend against Bitcoin (BTC).
As per the analyst, Dogecoin is displaying an inverted head and shoulder (IHS) pattern on the charts- something that he says has been building up for a year now
At the start of this week, the analyst had informed people that, on the Bitcoin chart, Dogecoin is about to witness the breakout of a 12-month inverse head and shoulder pattern. He also said that once Dogecoin breaks this level, the currency will not bounce back.
Next, before Smart Contracter wraps up his analysis, the analyst talks about Aave (AAVE), a DeFi protocol. He suggests that Aave is set to spike nearly 78% from its current trading range.
In addition, he predicts Aave would hit more than $150 in the next two months.
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G20 Central Bankers: Stablecoins Are Not “Stable,” Suggests Action Against Crypto
The post G20 Central Bankers: Stablecoins Are Not “Stable,” Suggests Action Against Crypto appeared first on Coinpedia Fintech News
The Financial Stability Board, a group of G20 central bankers and financial regulators, has emphasized that stablecoins are not stable.
No stablecoin currently satisfies the parameters set for the digital asset category by the world’s major central bankers, and many stablecoins “do not have credible systems to guarantee their claim of price stability,” according to a report released today by the Financial Stability Board.
The board also questioned how “stable” stablecoins really are.
The board also issued high-level recommendations for governing digital currencies, with a more thorough report due by the middle of next year.
Shiba INU(SHIB) Price Closer for a 16% Upswing This Week! Are the Bulls Back in Action?
After nearly a week of an extremely bearish market, the SHIB prices rebounded and began a trade within an ascending parallel channel. The bulls are attempting to raise the prices, but the question still remains, whether the prices sustain above the gained levels or not.
The Shiba Inu price variations triggered the formation of an ascending parallel channel, and a significant price reduction was noticed about two weeks ago. The price contacted the lower trend line of the parallel channel, that led to a decline at the $0.00000992 support level.
While a notable upswing was recorded to the resistance level at $0.00001190, but the prices crashed back to the parallel channel’s lower trend line. The bulls took control and propelled the prices up by 20% later.
Unfortunately, the bears jumped back in action & successfully pushed the SHIB prices down through a crucial resistance where the prices consolidated for more than a week. However, the bulls regained momentum and drove the prices to the current price of $0.00001127.
The significant resistance level at $0.00001190 may act as a barrier to additional price increases, and a breakout at this level may push Shiba INU(SHIB) prices up towards the trend line. Breaking through the top trend line could drive prices rocketing towards the nearest resistance at $0.00001306 and beyond, leading to bullish price action.
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Altcoins Like LUNC, LINK, LTC, MATIC & AVAX To Show Diverse Action Soon!
Crypto markets remained heavily consolidated during the past weekend as Bitcoin price continues to trade along the same support zone. The star cryptocurrency closed the previous week at around $19,000 with low volatility and low volume. The markets barely moved, flashing strong signs of exhaustion as the indices kept on falling. Therefore, in such a scenario where the volatility period extends heavily, a big move may be speculated on in the next couple of weeks.
With a slight change in the market sentiment, some of the major altcoins may also rise with huge bullish momentum.
Chainlink (LINK)
Chainlink prices have been displaying significant strength since the beginning of September, and after a minor bounce, it may begin with a firm upswing soon. However, considering the present price action, the LINK price is expected to accumulate some strength. As the volume has been slashed, the price may witness a slight pullback. Further, a gigantic upswing may bring the price close to $10 if it manages to sustain above $7.65.
Terra Classic (LUNC)
Terra Classic‘s price leapt long during the past weekend and attempted to reclaim the crucial resistance at $0.00036. However, it displayed a significant strength as it managed to trade above $0.00032. If the price manages to sustain within the resistance zone without flipping, then a notable upswing may make its way out. Otherwise, the price may continue to trade around $0.0003 for a longer time. On the brighter side, a breakout beyond $0.00036 may pave the way for a significant upswing beyond $0.00045.
Litecoin (LTC)
After a gigantic rally, Litecoin prices are currently consolidating heavily and plunging down towards the lower crucial zone. However, despite a notable pullback, the prices are required to hold the lower crucial levels between $43 and $46. If the price HODLs at these levels, then a notable upswing towards a 3-digit level could be imminent only after it tests and clears the pivotal zones at $81.
Polygon (MATIC)
Despite a bearish month-end, the Polygon(MATIC) price is displaying acute strength as it sustains firmly above $0.75 after reclaiming the pivotal area around $0.72. The assets usually turn highly volatile as they surpassed $0.72 levels and hence also carry the possibility of a retest to $0.65 levels. If it manages to hold above $0.75, the price levels may rise beyond $0.80 very soon.
Avalanche (AVAX)
Avalanche‘s price displays a contrast rally compared to all the above altcoins, as the asset appears to be primed for another 10% drop in the coming days. Moreover, the platform lags volume & volatility which may drag the price close to $16 or even below these levels. If the price holds at these levels, then an upswing may rise the price close to $18. In contrast, a failure may lead the price to drop hard to $15.75 initially and later to $14.
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Cronos (CRO) and Bitcoin Cash (BCH) Holders Surprised by Negative Price Action
Cronos ($CRO) and Bitcoin Cash ($BCH) investors have had a tough time watching their assets post negative returns in recent months.
Suppose you are an investor in either crypto tokens. In that case, you’re probably looking to dump those tokens and add alternate assets to your portfolio.
The recently launched crypto project, The Hideaways ($HDWY), could help Cronos and Bitcoin Cash holders recover their losses. Technical and fundamental analysts have reviewed the project and pointed out that it contains compelling use cases and provides passive income.
Cronos ($CRO) Investors Consider other Altcoins as Losses Magnify.
Cronos (CRO) was created to power the cryptocurrency trading platform, Crypto.com. It was relaunched as a separate network, Cronos, with CRO as the native cryptocurrency token. It can be staked and used as a payment cryptocurrency. Holding the CRO coin also provides discounts inside the Crypto.com exchange.
However, investors have suffered losses over the past few weeks as the cryptocurrency markets experience a period of slow growth. CRO is down by 12.44% over the last week, -29.48% over the previous month, and even worse, -44.49% since last year, even though it has an inherent utility inside the Crypto.com exchange!
Data analysts point to many long-term holders of Cronos (CRO) selling their assets before they suffer more losses.
The Hideaways ($HDWY) could be a better alternate asset for CRO investors as it has been offering many rewards for its buyers.
Bitcoin Cash ($BCH) Down By Over 81.46% This Year; Investors Rush to Sell
As of the time of writing, Bitcoin Cash’s market price is $118.83, which is -11.40% since last week. Bitcoin Cash (BCH) was created as an alternative to mainstream Bitcoin. It is faster, can support bigger blocks, and charges lower fees. It is widely used to process payments.
It is designed to be quick and has attracted many investors due to its superior payment transaction utilities. However, like other altcoins, BCH investors have also faced massive losses in the current bearish markets.
In 2022 alone, BCH is down by 73.12% – and many long-term investors are now faced with a dilemma, to continue registering negative returns or seek alternate assets. Many holders have decided to sell their BCH holdings because there are many new assets with higher growth potential.
The Hideaways ($HDWY); The Recently Launched Crypto Powered Real Estate Platform
Many cryptocurrency analysts have expressed hope in the new project, The Hideaways ($HDWY), as it offers higher growth potential and better use cases than BCH and CRO. Here’s a brief review of the significant features of this exciting new platform:
- Users get access to income from real estate in the form of ETH and USDT / USDC monthly rental income
- Invest in Fractionalized NFTs from anywhere in the world
- Tokenization of real estate and access to the luxury property for as low as $100
Trading assets is a short-term opportunity, but long-term holdings should be determined by carefully evaluating a project’s utility and target sector. This is where The Hideaways has the edge over other assets.
With a minimum investment of $100 and a 100% gain in price in under a week for early investors, many experts predict a moon rally with a quick 2,000% rise before the presale is over.
If you hold BCH or CRO, do not miss this opportunity and get a chance to invest in a cryptocurrency backed by real-world yields.
Website: https://www.thehideaways.io
Presale: https://ticket.thehideaways.io/register
Telegram: https://t.me/thehideawayscrypto
Twitter: https://twitter.com/hdwycrypto
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
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XRP Army Back in Action, Will Ripple Price Gain the Required Momentum to Reach $1?
The crypto markets continue to hover within a bear market as the bullish reversals are not been validated. Moreover, Ripple(XRP) price remained more of less stagnant and traded below $0.4 for quiet a long time. Despite the negative market trends and the ongoing Ripple vs SEC lawsuit, the price appears to be primed to rise high.
The Ripple price was trading within a descending parallel channel, failing to clear through the upper resistance. However, a huge influx of buying volume, assisted the price to clear these levels, while the upswing seems to get intensified very soon.
The XRP price has risen above the bearish pattern and hence a notable upswing may expected ahead. However, until the price tests & clears the immediate resistance at $0.436 and secures levels above the pivotal resistance at $0.5114, the revival of the rally may not be validated.
On the brighter side, the platform has witnessed a huge influx of liquidity is witnessed in the past couple of days as the volume rose from around $1.12 billion to as high as $3.74 billion in just 2 days. Surprisingly, the daily active address have slumped hard while the MVRV ration undertook a bullish divergence.
While the major technicals & indicators point out towards the resuregance of the bullish trend, a significant upswing may be in place that could uplift the price beyond $0.5 very soon. However, the Ripple vs SEC case may continue as the XRP price could remain independent of its trend.
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Uniglo (GLO) Price Explosion Due to Price Action of Competing Protocols Like Convex (CVX) and Kusama (KSM)
A new project in decentralized finance (DeFi) is surging and could be making its way to the top 50 list of cryptocurrencies. We are talking about Uniglo (GLO), one of the latest project additions to the Ethereum blockchain.
This surge says a lot considering that the Uniglo project has yet to publicly launch. Much has been said about this innovative project and many comparisons have been made.
One way of looking at Uniglo is it is similar to Convex with respect to its purpose — maximizing yields while keeping things simple for investors. It is also similar to Kusama because of its focus on innovation.
Convex and Kusama have been in the red zone when viewed from the 30-day period. However, both protocols are now rising, moving into the green zone during their one-week and two-week periods. And in an amazing turn of events, the optimism around projects like Convex and Kusama seems to be adding to the excitement around and demand for the Uniglo project. Indeed, at Phase 2 Presale, the price of Uniglo’s native token GLO has been exploding.
Uniglo (GLO)
To better understand why the new project Uniglo is having a price explosion, you need to know about its gain-oriented structure. The Uniglo project will not rely solely on speculative growth but will temper it with asset appreciation from stable, real-world investment products such as gold, fine wine, and art.
To achieve this, Uniglo will create a special Asset Vault to contain different kinds of digital assets that will serve as one-half of the foundation of its GLO token. The other half of GLO’s foundation is embodied by an idiosyncratic Ultra-Burn feature that will ensure the scarcity of GLO tokens in the secondary market. The key reason many investors are attracted to Uniglo is that its structure could mitigate against market volatility. Hence, the demand for GLO tokens at presale is exploding.
Convex (CVX)
Convex is a DeFi yield farming platform that competes with Uniglo in a way. The Convex protocol is built on top of the Curve Finance (CRV) stablecoin exchange, providing rewards and yields for Curve liquidity providers and CRV token holders through staking. However, Convex’s simplicity and singular focus on staking could also make the platform limited. Over the last month, the price of CVX dropped by almost 24%, dipping from $7.50 to as low as $4.87. But over the last seven days and 14 days, the price increased by 8.7% and 9.1% respectively. Currently, it is trading at $5.62.
Kusama (KSM)
Kusama (KSM) is a Proof of Stake network based on Polkadot, serving as a testnet for the latter’s ecosystem. Essentially, Kusama functions as a warning system for issues or threats that could rattle the safety and security of the Polkadot ecosystem. It is specifically built to support radical and unpredictable innovation and early phase deployments on Polkadot, which makes the network unrefined and experimental. In the words of the team behind it, “Expect Chaos. No promises.” KSM is currently trading at $52, which is approximately a 14.4% drop over the last 30 days. But KSM has been seeing a rise in the last seven-day and 14-day periods similar to Convex.
Conclusion
Uniglo is experiencing a price explosion due partly to the revival of competing protocols such as Convex (CVX) and Kusama (KSM). As the price of Uniglo’s GLO continues to skyrocket at presale, now would be an ideal time to buy GLO tokens and see where this new innovative project could take your investment.
For More Information:
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
Telegram: https://t.me/GloFoundation
Discord: https://discord.gg/a38KRnjQvW
Twitter: https://twitter.com/GloFoundation1
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.