Ethereum Price Analysis: ETH Price To Have a Bullish Ride Soon! Here Are The Levels To Watch
Ethereum (ETH) is noticeably on the rise along with the overall increase in performance of most crypto assets. Though general crypto market sentiment continues to be the key driver of Ethereum price growth, network activity has boosted confidence among all Ethereum investors. In January 2023, Ethereum emerged from a downturn that had been in place since May.
According to the Titan of Crypto, Ethereum is forming a Bullish Cypher Pattern. “Just like for #BTC, a bullish cypher pattern is currently playing out on #ETH weekly chart as well,” he said on Twitter.
According to the anonymous cryptocurrency analyst Crypto Yoddha, Ethereum has successfully broken out of the symmetrical triangle or “pennant,” paving the path for its price to perhaps reach $3,500 soon.
This pattern specifically appears when the price of an asset consolidates in a way that results in two trend lines that are converging and have about equal slopes. Price is poised to either break through the top trendline for a breakout or the lower trendline for a breakdown as it progresses toward the apex.
According to experts, ETH’s Aroon Indicator shows a decline in positive sentiment. An analytical tool for determining trend strength and trend alterations is the Aroon indicator. The strength of the uptrend is measured by the “Aroon up” line, and the strength of the downtrend is measured by the “Aroon down” line. The Aroon Indicator shows that the bullish mood has dramatically waned during the last few weeks on the daily chart and at 21.43%, the Aroon Up line was seen.
At the time of writing, Ethereum is trading at $1,680 and is up by more than 7 percent in the last 24 hours.
Crypto Market Analysis: Bitcoin Bull Market is Back-Did the FOMC Rates Intensify the Rally?
Bitcoin price after recovering from the bearish engulfing in the past few days has now surged above the consolidation to reach the next milestone at around $24,000. The trading volume of the asset spiked by more than 36% to mark levels beyond $30 billion. The current trade set-up displays immense possibilities of a bullish breakout in the coming days that may even rise beyond the crucial levels of around $24,400.
The star crypto, after rising above a deep bearish trend, secures nearly 6 preliminary targets and now appears to be prepared to test the updated long-term targets. In the coming days, more upswing may be expected and higher targets could be reached that converge at $25,000 along with other indicators.
A huge convergence is witnessed at $25,000 where-in, the interim resistance, the 200-day MA and the 50-day MA levels collide, flashing the updated target for the BTC price rally. The recent FOMC meeting did add up to the prevailing bullish market sentiments that also assisted the current price rise.
The fresh FOMC rates were released that were raised by 25 bps to 4.75% after which the BTC price soared high, breaking the barriers at $23,800. Moreover, another 25 bps raise has been predicted for the coming month that could easily push the prices beyond $25,000.
Over the past few months, the US economic conditions, CPI or the GDP forecast, etc have shown positive dynamics. Interestingly, the prevailing conditions also have driven the traditional markets higher.
In the coming days, FOMC is committed to slashing the inflation rates to 2% from the current 6.5% and ensuring stability. Moreover, it believes that these rates can be achieved without a recession, while the economy will continue to grow along with Bitcoin & the entire crypto space.
Crypto Market Analysis: Top Predictions for Bitcoin(BTC), Ethereum(ETH) & Ripple(XRP) for February 2023
Bitcoin (BTC) Price Analysis
Bitcoin appears to accumulate gains as the price levels have been hovering around $23,000 for nearly a week. The RSI is displaying a bearish divergence while the MACD is about to flash a bearish crossover. Therefore, the BTC price is expected to face a minor rejection during the weekend that may trigger a bullish close for the month ahead.
The BTC price is manifesting both the possibilities of rising beyond the interim resistance at $24,400 and surging below $21,800. An equal bullish and bearish impact is been recorded due to which the volatility of the asset has been slashed hard.
However, the upcoming weekend may turn the tables for the BTC price and either of the targets may be achieved. Meanwhile, a bearish outcome is more likely which may slash the price below $21,000 but the upcoming week could be bullish.
Ethereum (ETH) Price Analysis
The Ethereum price in constantly trading along the resistance of the falling wedge for more than a week now. The price slightly deviates towards the south and hence the bears are slowly gaining strength and may display a giant action during the weekend. Moreover, the Bolinger Bands are also displaying a contraction which reduces the bullish possibilities to a larger extent.
The current trade setup displays the possibility of a minor pullback and plunges down. However, in case of an extended bearish action, the price may find a base to rebound at 200-day MA which is located at $1424. This may trigger a notable upswing that could uplift the price levels beyond the upper resistance and reclaim the crucial levels at $1767 in the coming month.
Ripple (XRP) Price Analysis
Ripple price broke above the bearish trade set up after the first fortnight of 2023 and began to consolidate heavily around the resistance. The price just made a failed attempt to rise beyond $0.43 intensifying bearish action and slashing the levels close to $0.41 at the moment. However, the upcoming weekend is believed to be highly volatile that may display a giant price action.
The XRP price is testing the crucial resistance levels and displays huge possibilities of a bearish breakout in the next 24 to 48 hours. While the lower support levels are fragile and hence may not hold the rally. However, the bulls may not allow the price to drop heavily as they appear to be well in a position to defend the gained levels. Therefore, after a brief consolidation, the XRP price is believed to rebound finely to reclaim levels above $0.45 soon.
Bitcoin Price Analysis: Bullish Continuation Signals, BTC in Early Bull Phase!
After maintaining a consolidated trend for a couple of days, Bitcoin again regained the lost levels above $23,000 in the early trading hours. The bulls, who were accumulating gains without inducing buying pressure, quickly uplifted the price when the bears fell weak for some instance. On the whole, the BTC price is believed to be at the foothill of a massive explosion that could ignite a massive bull run in the coming days.
The BTC price in the short term was trading within a bullish ascending pennant, but the recent bearish pressure dragged the price lower, slicing beyond the lower support. In the meantime, the rounds of the bears reclaiming their dominance to squeeze the rally were outspread. However, the bulls jumped back in action and temporarily invalidated the bearish trajectory.
The current trade set-up indicates that star crypto is poised to maintain a notable upswing. As per Ki Young Ju, the CEO of an on-chain data provider, Crypto-Quant, Bitcoin entered into the early bull phase.
The CEO lists some of his observations due to which, it is evident that the current pullback is part of the star crypto preparing for a massive bull run ahead. The analyst referring to the Crypto-quant bull-bear indicator says that BTC is trading within an early bull run phase. The levels in the above-mentioned chart have rebounded from negative levels and heading toward the positive range.
Each time, the bullish divergence was recorded, the BTC price underwent a significant upswing to mark interim highs. Besides, the BTC price is also speculated to follow traditional assets like Gold. DXY, etc. The price trend is following the pattern Gold or DXY has undergone earlier. Hence if it follows the upswing the traditional assets followed, then a BTC price is believed to rise beyond $30,000 in the coming days.
Bitcoin Price Analysis: BTC Slips Below $23,000, Remains Bearish for The 2nd Consecutive Day!
Bitcoin price prediction for 2023 had become bullish as the token ignited a significant upswing soon after the start of the year. While the forecast for $25,000 was emerging, the bears regained control and slashed the price below $23,000. The BTC price has been dropping for 2 days and is unable to recover despite a decent buying volume persisting.
The crypto markets, regardless of their claims of being independent, largely depend on the trends of the traditional stock markets. The stock markets which are facing turbulence managed to break the upswing that it held for 15 consecutive days. Moreover, Microsoft also joining the layoff crew has also impacted both markets to a large extent.
Therefore, now the question flashes, whether the Bitcoin (BTC) price move beyond $25,000 or drop back to $21,000. How well can Bitcoin sustain the momentum?
The BTC price rally was ignited after a strong whale activity wherein the number of addresses holding 100 to 1000 BTC surged by 416 in the past few weeks.
Therefore, considering the recent price rise, the short-term holder’s profits have also risen by more than 90%. Hence, the possibilities of these holders extracting their profits also emerge.
As per the on-chain data provider, Glassnode, the recent price surge has broken all the 3 levels, realized price, the long-term holder(LTH) realized price & short-term holder (STH) realized price.
“The recent surge in Bitcoin proce action has resulted in an initial breakout above all three costs-basis for the first time since the 2018/19 bear market and the March 2020 Covid crisis.
A sustained duration above these key psychological levels would be considered constructive,”
Bitcoin Price Analysis: BTC Slips Below $23,000, Remains Bearish for The 2nd Consecutive Day!
Bitcoin price prediction for 2023 had become bullish as the token ignited a significant upswing soon after the start of the year. While the forecast for $25,000 was emerging, the bears regained control and slashed the price below $23,000. The BTC price has been dropping for 2 days and is unable to recover despite a decent buying volume persisting.
The crypto markets, regardless of their claims of being independent, largely depend on the trends of the traditional stock markets. The stock markets which are facing turbulence managed to break the upswing that it held for 15 consecutive days. Moreover, Microsoft also joining the layoff crew has also impacted both markets to a large extent.
Therefore, now the question flashes, whether the Bitcoin (BTC) price move beyond $25,000 or drop back to $21,000. How well can Bitcoin sustain the momentum?
The BTC price rally was ignited after a strong whale activity wherein the number of addresses holding 100 to 1000 BTC surged by 416 in the past few weeks.
Therefore, considering the recent price rise, the short-term holder’s profits have also risen by more than 90%. Hence, the possibilities of these holders extracting their profits also emerge.
As per the on-chain data provider, Glassnode, the recent price surge has broken all the 3 levels, realized price, the long-term holder(LTH) realized price & short-term holder (STH) realized price.
“The recent surge in Bitcoin proce action has resulted in an initial breakout above all three costs-basis for the first time since the 2018/19 bear market and the March 2020 Covid crisis.
A sustained duration above these key psychological levels would be considered constructive,”
BTC Price Analysis: Analyzing Bitcoin’s Prospects Of Reaching The $25,000 Mark
Despite market analysts’ skepticism that Bitcoin’s recent surge is a trap for bulls, the cryptocurrency has continued to rise. Data from CoinGecko shows that BTC has increased by 36% this month, reaching a peak of $23,000 on multiple occasions. This marks the highest monthly gain for the leading cryptocurrency since October 2021.
As traders eye the $25,000 level, they remain vigilant for potential downturns. However, for Bitcoin to reach a price of $25,000, a number of factors will need to come into play, including increased demand, positive sentiment, and a lack of negative market developments.
Bitcoin’s Road to $25k
For Bitcoin to reach a price of $25,000, it would likely need to follow a pattern of rising to a key level of resistance, such as $23,000, before retracing and moving on to the next level of support, such as $23,800, and gradually approaching $24,500 before reaching the target price.
If bulls are able to maintain a consistent pattern of breaking through resistance levels, as they did over the weekend at $23,000, the outlook for the month suggests that BTC may even reach as high as $29,000 before hitting a crucial cap. However, it should be noted that this is a speculative analysis and nothing can be predicted with absolute certainty.
Nevertheless, if bulls maintain their current level of dominance or even increase it, the possibility of the price reaching $30,000 in the near future should not be ruled out.
Crypto Market Analysis: Bitcoin Remains Consolidated While Dogecoin Aims to Hit $0.1
Crypto markets today are pretty consolidated as the past weekend could not offer the required push that may have exploded the price beyond $23,000. Meanwhile, some altcoins are displaying enough momentum to reach the desired target soon.
Dogecoin price, which traded under extreme bearish pressure for more than 20 months, appears to have surged notably. However, the trend reversal is still required to be validated which may enable the price to rise high beyond the crucial resistance.
DOGE prices surged in the times when Elon Musk has not talked about the token much. Yet the prices surged by more than 40% and Shiba INU over 50% since the start of 2023 which signals the possible start of the memecoin season. Dogecoin price underwent a massive bullish close for the previous week that may end the multi-year bearish trend.
Dogecoin price has risen above the huge falling wedge, flashing extreme bullish signals. The price appears to be in the process of validating a firm upswing after a breakout beyond the upper resistance of the wedge.
Furthermore, a decent upswing could be validated by surging beyond the pivotal resistance at $0.15 which appears to be pretty distinct from the current levels. Woefully, the buying volume has not been up to the mark as reflected during the November 2022 surge.
Despite a bullish breakout, the Dogecoin price may continue to remain under the bearish influence. Therefore, the price may eventually surpass $0.1 by the end of January 2023 and maintain a notable upswing thereafter.
However, the possibility of rejection also haunts the rally and in such cases, a slight drop towards $0.08 could be possible.
BTC Price Analysis: This Factor is Driving Bitcoin’s Unstoppable Rise to $30,000
Since this month’s cryptocurrency surge was so strong, traders are keeping an eye out for the price bottom. Is the market ready yet, or will bears drive prices back to the $20K crucial optical support level? With unusual RSI readings, analysts are now trying to identify Bitcoin’s bottom.
According to trader Crypto Wolf, a significant narrative now in motion sets Bitcoin’s most recent rally unique from all others. On January 18, he observed that RSI had printed a bullish divergence on weekly timescales.
“BTC printed a rare weekly RSI bullish divergence. Never happened in BTC history, a once in a life opportunity. Technicals were there, charts were screaming bottom but as usual majority was in full bear mode,” Wolf said.
Trader Tardigrade, better known as Alan on social media, a trader and analyst, believes that the good times will last for a while as he expects some consolidation.
“On daily chart, 1. RSI Strong uptrend to overbought zone 2. $BTC had a significant drop before that 3. Sudden buyers bought up $BTC. Big rally will be following after some consolidation,” he noted.
At the time of writing, the daily RSI was close to 87, which is the highest reading since January 2021, months before the price of bitcoin to the dollar reached new all-time highs of $58,000 in April and $69,000 in November.
Three of the ten highest RSI readings for 2019 were recorded by BTC within the past two weeks. Its reading of 89.3 on January 14 came in third, with readings of 80.8 and 90.9 on January 16 and 17, respectively. Since 2019, out of over 1,500 trading days, Bitcoin’s RSI has only fluctuated between 78 and 79 ten times.
Crypto Market Analysis: Why Shiba INU(SHIB) is Going Up Today?
The crypto markets continue to trade under a bullish influence despite another bankruptcy struck-in. Bitcoin price continues to trade close to the crucial levels around $21,000 and hence the other major altcoins also appear to have withstood the turbulence. Interestingly, Shiba INU prices continue to trade above the gained levels of around $0.000011 despite millions of tokens being dumped by the whales.
During the previous trading day, the SHIB prices rose to highs fueled by the Shibarium network update. Alongside, SHIB was also the most-held token by the top 100 Ethereum whales. Moreover, a huge whale transaction was encountered as soon as the SHIB prices spiked of more than 443 billion tokens worth $5.1 million in a single transaction. Interestingly, this was a sell transaction!
Post to which the SHIB prices were impacted notably which faced rejection from the levels close to $0.000013. Presently, the bears are attempting to compress the price but the bulls appear to carry enough strength to hold the selling pressure.
The Shiba INU price despite the current pullback continues to hover within the ascending rising channel which is largely considered as bearish. However, in the short term, the price is closer to testing the lower support of the channel. If the price rebounds successfully, then a notable rise beyond the highs at $0.000013 may be imminent. Else a bearish pullback may drag the price lower and compel it to trade along the lower support zone.
The Shiba INU (SHIB) price is trading around $0.0000114 with a notable rise of more than 2% in the past 24 hours. However, the trading volume also has dropped by nearly 60% due to which bulls are not getting enough room to swell. Meanwhile, if the price registers a bullish close above $0.00001150 or higher, then the upcoming trade may record significant gains.
Crypto Market Analysis Today: Is it Over for Cardano (ADA) & Ripple (XRP) Price?
Cardano (ADA) Price Analysis
Cardano displayed a notable recovery in the past few days as the price underwent a parabolic recovery to gain the levels it traded before the market collapsed in November. However, after rising beyond $0.35, it was assumed the price may spike beyond $0.4 but the Genesis debacle could prevent a giant move towards the north.
The ADA price accomplished the parabolic recovery and despite undergoing a minor correction to form a cup & handle pattern, it surged high to reach the interim resistance. Therefore, a rejection then appeared to be imminent that occurred in the past few days. Presently, the price is trading within crucial resistance-turned-to-support levels. If these levels are not held, then a significant plunge may drag the price close to $0.3 in the next few days.
Ripple (XRP) Price Analysis
The Ripple price in the short term is displaying a sense of strength as the price levels hover within the same resistance and support levels. The recent rally did not amplify the price levels to a large extent as it did with the other altcoins. Therefore, the possibility of a rebound emerges as the bulls appear to hold notable strength to ignite a rebound.
The XRP price is testing the crucial price levels at 200-day MA, clearing which may induce strong bullish momentum within the asset. However, the market sentiments have turned slightly beamish which may compel the price to drop below these levels. Therefore, if the Genesis fiasco impacts the crypto space to a large extent, then a plunge slightly below $0.34 can be expected, else the price may remain consolidated until the next move uplifts the price beyond the reach of the bears.
Crypto Market Analysis: With the Genesis Preparing for Bankruptcy, This Could be the Possible Impact on Bitcoin Price!
No sooner than the crypto space was experiencing relief, yet another turbulence struck the markets. It was speculated for quite a long time that the ripple effects of the FTX fallout may carry for a long time ahead and as Genesis is facing maximum exposure, may file for bankruptcy. However, the top lending firm is said to file for chapter 11 bankruptcy soon which is expected to have a larger impact on the Bitcoin price.
Despite the market turning extremely bullish since the past weekend, some were still bearish and believed the BTC price could find the bottoms for the 2022 bear market very soon. Moreover, with the latest pullback, some of the analysts who earlier predicted the revival of a bullish trend referring to the upswing ignited in April 2019, have changed their perspective towards the token.
A popular analyst, RookieXBT had predicted that the BTC price is at the foothill of a massive explosion. But the fresh bearish clouds hovering over the markets compelled him to flip the predictions which now mark the lows around $15,000, probably due to Genesis.
“would take another unexpected black swan tbh
Genesis probably file ch11 but i reckon it’s priced in at this point and any dips are for buying
If i’m wrong, not the first time and won’t be the last time,”
Whales Shorting Bitcoin on Binance
With the growing speculation of the bearish market trend, the traders appear to be confident about the impending BTC price fallout. Due to this, the Whales appear to be preparing to make huge profits by shorting Bitcoin. A popular analyst, Micheal van de Poppe, says that the markets may probably go more downside as the Whales are buying huge BUSD to fill the shorts on Binance.
No doubt, the short liquidations may propel the price higher, but until the stop loss is triggered, the price is believed to drop heavily towards the bottom. If the speculations are spot on, then it could the last nail in the coffin. Therefore, in this scenario, Bitcoin’s (BTC) price may slide down to form fresh bottoms for the year 2023.
Bitcoin Price Lacks Momentum To Rally Beyond $21,500 – Is it a Bear Trap? Here is Up Close Analysis
Bitcoin price has experienced a strong resistance of around $21k after rallying over 28 percent in the past 14 days. Over $26.60 million has been liquidated in the Bitcoin market during the past 24 hours and more coins observed leaving centralized exchanges. Market analysts believe the Bitcoin market is preparing to enter a correction phase after posting significant gains in the past few weeks. Moreover, meme coins – led by Shiba Inu and Dogecoin – have begun rallying, which is seen as the end of a crypto cycle.
However, all attention is on the pennant symmetrical triangle forming on the lower time intervals. Any strong breakout on either trend line of the pennant triangle will be used to extrapolate the next phase. For instance, should Bitcoin price rally beyond $21,500, and have a solid daily bar, traders will take it as a price continuation.
On the other hand, should Bitcoin price close the next few days below $21k, crypto traders will pick a correction in the making.
However, short-term traders should be aware of long daily winks that can stop hunts in either direction. Moreover, the cryptocurrency market is attributed to high volatility even in smaller time frames.
From the RSI indicator’s viewpoint on the smaller time frames, Bitcoin price could be preparing to reverse at current levels. Notably, while the Bitcoin pennant flag is on a rising trend, the RSI indicates overbought and a falling divergence.
On-chain data, however, indicates the Bitcoin price is responding to the open futures market that has recorded high liquidations in the last few weeks. Furthermore, the crypto sell pressure could significantly increase once FTX officials dump the $5 billion digital assets.
Crypto Market Analysis: This is What You Can Expect From Bitcoin (BTC) Price in the Next 48 hours!
As the majority of altcoins have risen above critical resistance, the crypto space is thought to have risen significantly above the bearish influence. While some believe the BTC price has yet to reach the bottom of the 2022 bear cycle, others believe the bottoms have already been reached and a significant recovery phase has begun. Both hypotheses, however, cannot be dismissed because they are partially correct.
The bulls appear to have drained heavily at the moment, but the bear does not appear to be confident in their moves. As a result, the Bitcoin price is consolidating within narrow ranges as bulls accumulate gains in preparation for the next leg up. Despite the uncertainty surrounding the BTC price rally, a popular analyst predicts bullish targets for the star cryptocurrency in 2023.
Lark Davis tells his 1 million followers that the Bitcoin price will skyrocket in the coming days, reaching highs near $50,000 in 2023. However, after reaching highs close to $48,000 the analyst believe a notable drop may kick in to retest the price zone around $30,000. The patterns formed are strikingly similar to those seen during the 2019 bear market rally, suggesting that the trend may be repeated soon.
Therefore, the price action for Bitcoin in the coming days is pretty simple. Those who bought when the BTC price was bullish, may not sell soon. And those who were bearish on Bitcoin may have missed the boat and hence waiting for the perfect time to enter.
If the BTC price continues to range high, then they may have nothing to sell other than shorts. Therefore, the shorts may pile up which may be squeezed further resulting in a Bitcoin (BTC) price explosion soon.
Crypto Market Analysis: Dogecoin (DOGE) & Shiba INU (SHIB) Price May Explode Soon!
Dogecoin (DOGE) Price Analysis
Dogecoin, similar to other cryptos ignited a significant upswing since the beginning of 2023 which assisted the price to recover the loss incurred in the past 30 days.
The upswing was limited to levels close to $0.09 which later fell prey to a minor bearish action. However, the token still trades under the bullish influence and is believed to manifest a giant price explosion very soon.
The analyst here highlights the previous touch points of the DOGE price rally. The price, each time tested the upper resistance, witnessed a significant rejection that compelled the token to mark the lows.
Interestingly, the price followed a similar trend and rebounded each time it tested the lower support. Hence, considering the previous bearish crackdown, the analyst believes the DOGE price could be due for a massive breakout.
Shiba INU (SHIB) Poised to Reach the Next Target
Like many other tokens, the Shiba INU price also maintained a consolidated trend for quite a long time. The price later broke out and surged heavily to mark new highs close to $0.000011 and is displaying bullish momentum to prevail for a long.
The market optimism is growing extensively this week and hence a minor pullback may be expected any moment from now. After undergoing bearish action throughout 2022, it’s very tough for the crypto space to re-ignite a crypto bull run.
Therefore, after a gigantic price surge, SHIB price could be poised for a minor downswing. However, a correction may still trigger a bullish move that may enable the price to reach the upper target above $0.0000133.
Crypto Market Analysis: This is How Bitcoin Price Managed to Rise from $16,500 to Reach $21,500!
Bitcoin price is currently appearing to be extremely bullish as the price levels have surged beyond $21,000. Until the end of 2022, the price remained under an extremely bearish influence which was flipped on the very first day of 2023.
Considering the current trade setup, it appears that the bullish momentum was induced to prevent the BTC price to mark new lows. But will the induced momentum hold the price high? If yes, then for how long?
The crypto verse is well acquainted with the control price action and the present price rise is believed to be one among them. Bitcoin and Stablecoins are the most traded assets every day, sharing more than 50% of the volume. However, the circulating supply of the stablecoins has dropped heavily during the times when BTC prices consolidated within a very narrow range.
A popular analyst, tedtalksmacro, discovered the correlation between the drop in the stablecoin reserves and the rising BTC price.
“Intersting divergence between Bitcoin price + USD stablecoin supply has appeared.
Seems that USD stabelcoins were swapped heavily for BTC between November – January and that led to decreased stablecoin supply and set the floor for BTC,”
Therefore, now when the speculations of a programmed rally hover over the star crypto, the possibility of a significant plunge also emerges. Hence the market participants can be more cautious and keep a close watch on the Bitcoin (BTC) price movement.
Crypto Market Analysis: With the Biggest Bitcoin Rally in 9 Months, Here’s What to Expect with XRP Price!
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Bitcoin underwent a massive upswing, rising the entire crypto space beyond their respective multi-month resistance levels
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The bullish momentum prevailing within the space uplifted the XRP price close to the pivotal resistance at $0.4 and a clear breach beyond these levels may ignite a minor bull run soon
The crypto bulls are back with a bang as the global crypto market cap is an inch close to regaining levels beyond $1T. XRP price which was manifesting a sense of strength despite the bearish trap drag it to meet the lows below $0.3. However, the recent bullish divergence caused the price to rise significantly and mark the highs above $0.4 in a short while.
While the bears are attempting to restrict the progress of the rally, the bulls appear to be poised to keep up the momentum until the price reaches $0.5.
XRP Price Analysis – Short-Term (1D)
- XRP price has been bullish since the beginning of 2023 which was fueled by the rising market sentiments during the past weekend
- After a magnificent surge of more than 20% in the past week, the XRP bulls appear to have exhausted to some extent at the moment
- The bears are attempting very hard to strengthen the bearish influence but the mounted bullish pressure may not allow doing so
- However, the XRP bulls are required to rise the price levels above the price zone marked in blue to avoid any rejections in the near future
- A daily candle beyond $0.42 may certify the upcoming bullish trend, else a deep dive to $0.3 also appears prominent
XRP Price Analysis-Long Term (1W)
- The XRP price in the longer time frame has risen above the bearish pattern and tested one of the crucial resistance levels at $0.405
- Clearing the resistance of the descending triangle flashes extreme bullish signals that may elevate the price close to $0.5
- However, a minor bearish action may be expected at these levels but a significant bullish reversal could also knock-in later
- However, the monthly close of the XRP price is required to be beyond $0.6 may invalidate the bearish thesis
- On the contrary, a drop toward $0.32 may discard the bullish trajectory in case of a rejection which appears quite unlikely at the moment
XRP Price Analysis – Top Analysts Maps the Beginning of the Next XRP Bull Run!
XRP price is trapped under the extreme bearish influence for quite a long time but the asset has been manifesting significant strength for the past couple of months. In a similar manner, the price is believed to reach the pinnacle of the consolidation and break above the present consolidation.
However, a popular analyst believes that the token is preparing for a significant bull run which is believed to be ignited in the next few weeks.
Egrag Crypto predicted that the XRP price may begin very soon. According to the analyst, the XRP price may start a notable upswing somewhere in Q3 2023, and specified the date is 01 July 2023.
Referring to the monthly chart, the analyst pointed toward the previous bear cycle which lasted for nearly 27 months from 2014 to 2017, creating an all-time high.
Applying the same analysis to the present price trend that kicked off in April 2021, the analyst arrives towards the date on 01 July 2023 which he refers to as the ‘Moon date’.
The long-term chart of XRP displays a continuation of a triangle pattern of an overall uptrend which is largely considered a bull flag. The analyst believes the price may break above the pattern which is currently hovering at the lower support.
However, the market sentiments may coil up as the most awaited Ripple vs SEC lawsuit may find closure during Q1 2023 which may induce the required bullish momentum to ignite an XRP bull run in 2023.
Solana Price Analysis: SOL Price Poised To Spike 50% in Q1-2023
Solana (SOL) has gained over 22 percent in the past seven days to trade around $13.51 on Wednesday. However, the SOL price is yet to fully recover from the FTX and Alameda implosion, which saw the digital asset lose over 60 percent in a week. Moreover, Solana was highly incentivized in the FTX ecosystem through token listings and liquidity provision.
Having returned to mid-December resistance, a popular crypto analyst on Twitter has highlighted that SOL will trade around $20 before the end of the first quarter of 2023. Citing a technical standpoint, the analyst believes the digital asset will consolidate at current levels before heading toward $20 before the end of March.
As such, the popular crypto analyst dubbed Inmortal [@inmortalcrypto] is convinced traders who bought Solana below $10 have their portfolio performing well.
The Solana ecosystem is suffering from a lack of development activity and network attacks. Nonetheless, SOL has seen its daily trading volume up significantly in the past few days, standing at about $1.7 billion today. For comparison purposes, BNB, XRP and Dogecoin all have a 24-hour volume of less than $1 billion, according to our latest crypto data.
Notably, a spike in daily traded volume on Solana (SOL) is a high indicator of more upside in the coming weeks. Furthermore, the SOL ecosystem has managed to significantly distance itself from the FTX fiasco.
Closer Look at Solana (SOL) Market Outlook
The Solana ecosystem takes pride in over 11.5 million active accounts and has facilitated over 22 million NFTs minted. Furthermore, Solana’s high throughput and low trading fees make it a perfect fit for NFTs of all shapes and sizes. Some of the top NFT marketplaces on Solana include SolSea, Metaplex, Candy Machine, Gumdrop, and RPC Infrastructure.
Top NFT projects on the Solana network include Cryptokickers, Degen Apes, and Solana Monkey Business.
The Solana ecosystem has been developing a mobile development kit for Web3 developers seeking to tap into the Saga phone. Notably, the Solana Mobile Stack, developed by Solana Mobile and coming first on the Android-compatible Saga phone, aims to make mobile more crypto-friendly.
Nonetheless, the Sol ecosystem is yet to convince the crypto community of its network stability. Moreover, network downs were very rampant last year fueled by bugs.
Meanwhile, the Solana ecosystem takes pride in a global community ready to support its Web3 products like SolanaPay.
Bitcoin Price Analysis: What Next BTC Price? $18k or $14k?
In the wake of the Terra Luna and FTX catastrophe, the Bitcoin market and cryptocurrency sector have suffered in 2022. With Bitcoin trading below the $17,000 mark, many analysts, investors, and Bitcoin enthusiasts have hopped on the bandwagon and are setting their year-end targets for the king coin.
According to Vince Prince on TradingView, there are major signs that will lay the cornerstone for the growth of the Bitcoin price movement going ahead until 2023. He said that Bitcoin is trading in a major parallel channel formation which is inclined towards the upside and has resistance inside the higher boundary and support inside the lower boundary.
“Once the final confirmation has settled the percentage height of the channel formation can be used as a measurement to the final target zone of the breakout this will result in a target of $18,000 when the bullish breakout settles and a target of $14,000 when the bearish breakout settles,” he explained.
On-chain data hints at an impending rally
According to on-chain research company Glassnode, the percentage of bitcoin supply held by retail traders has increased to 17 percent, or roughly 3.57 million, in 2022. Despite the underlying BTC value trading 75% below the ATH, the number of individual users globally is increasing, according to the data.
Glassnode classifies Bitcoin addresses with less than 10 BTC as retail traders. The use of Bitcoin by regular traders has increased dramatically over time, ensuring the longevity of the cryptocurrency industry.
Co-founder of ReflexivityRes Will Clemente believes that the Bitcoin price is moving in the correct direction.
“The percentage of Bitcoin supply held by retail has soared to 17% this year. Not perfect yet, but solid for a 12-year-old asset and definitely trending in the right direction. Bitcoin’s supply disperses over time, while Fiat’s holder base concentrates to whales over time,” he said.
Crypto Price Analysis: Terra Classic, Filecoin, Axie Infinity Price Fly High
Terra Classic (LUNC)
Terra Classic is approaching the end of the yearly trade, marking the lowest levels ever since it was rebranded and separated from Terra. The price is closer to adding up another zero in its value after facing rejection from interim highs around $0.00014106, in the past few days.
The LUNC price is now approaching the pinnacle of the falling wedge consolidation which is largely believed to be bullish in the long term. Meanwhile, the RSI of the token is also raising after rebounding from the lows, indicating the revival of a possible bullish trend ahead. With a bullish breakout, which may happen in the first few days of 2023, may hit the last point of defence at $0.00001
Further a rebound high to reach levels above $0.000015 initially and later try to test the levels close to $0.00002
Filecoin (FIL)
Filecoin after the gigantic fall in the recent past has been consolidating within a very narrow range and flashes the possibility of pulling a massive leg down very soon. The FIL price has formed a clear bearish flag which appears to have reached the pinnacle of the consolidation. If the price experiences some weakness, then the price may drop heavily, testing the lower support close to $2.
The filecoin witnessed a sudden spike in trading volume but woefully it was largely dominated by the bears. Hence, the price witnessed a drastic decline of more than 28% in just a couple of days. Presently, the volume has again dropped almost to its initial levels, which has forced the price to consolidate within narrow ranges.
However, a hefty compression usually leads to a massive breakout which may be due in the coming days.
Axie Infinity (AXS)
Much similar to other cryptos, Axie Infinity also witnessed a steep descending trend before the beginning of 2022. The price underwent a magnificent rally in during Q4 2021 and marked highs beyond $166. Woefully, the price dropped by more than 96% during the bear market which followed immediately after it marked its highs.
Presently, the AXS price is approaching the pinnacle of the bearish consolidation due to which a fresh descending trend may be ignited very soon.
The bulls and the bears are equally displaying their strength, and hence the volatility remains pretty low. Meanwhile, the bulls fail to accumulate the needed bullish push, depending on which they may nullify the bearish impact of the pattern formed. Therefore, the AXS price may soon drop below the crucial support level of $6 and drop down heavily to test the last line of defense at around $3.
Here the Axie Infinity price may receive a trigger to bounce back and lay down a significant upswing to reclaim the levels back above the interim resistance.
Ethereum Price Analysis: What’s in Store for the ETH Price in 2023
Ethereum price is trading within a deep bearish trend ever since the second-largest crypto-marked highs just before the end of 2021. Multiple factors contributed to the price plunge which is heading toward the edge of the consolidation. However, the bearish clouds continue to prevail as the ETH price continues to trade below 50-day MA levels for more than a month in the daily chart.
In the middle of the bearish clouds circulating around the ETH price, the possibility of a minor upswing emerges. The token is believed to raise finely, as the price is trading with the profit-making zone after holding firmly just above the loss zone. The asset is currently displaying significant strength and hence is believed to rise high after a minor pullback.
A popular analyst believes that the ETH price may soon offer a long entry at around $1190.
As per the forecast, the price could further rise high after testing the support at $1190 to reach the level of around $1268 in the next couple of days.
Amid the possibility of a minor upswing, the Ethereum price is expected to follow in the footsteps of the star crypto Bitcoin. As reported earlier, the BTC prices may soon experience a death cross in the weekly time frame for the first time ever in history. However, the ETH price which underwent a ‘Golden Cross’ in the weekly time frame just before the beginning of the 2021 bull run, is all set, to begin with, a fresh trend reversal.
The ETH price after the golden cross ranged high to mark ATH close to $4800. Further, a bearish market slashed the price by more than 75% at the moment and the probable death cross may hinder the rally, postponing the recovery phase indefinitely.
Presently, the ETH price is trading within a decisive phase, very close to the peak of the consolidation which may trigger a massive price action. The volume has dropped low, equally dominated by bulls and bears which has hampered the volatility to a large extent.
In the coming days, the Ethereum (ETH) price is believed to undertake a massive upswing but only after a brief consolidation. Therefore, the price is required to rise & hold above the current resistance at $1240 to set a bullish trade for 2023.
Cardano Price Analysis: ADA Price To See DreadFul Drop Plunging to This Level
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Cardano price is trading within a steep bearish trend and does not display the possibility of any rebound in the near future
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The price in the coming days is expected to display a fakeout and hence believed to trap strong hands around the higher levels very soon
The Cardano price continues to trade below the crucial support levels at around $0.3 and fails to reclaim these levels. Mainly due to the dropped volume and volatility the price trend is expected to continue to trade within the descending channel. However, the current trade set-up flashes acute bearish signals due to which the price is believed to drop from $0.23 to $0.2 levels very soon.
The ADA price currently appears to be the weakest altcoin within the crypto space as it made a couple of pullbacks which broke down from the consolidation. Moreover, a healthy pullback below the $0.25 level is quite possible to ignite a significant upswing toward the upper target above $0.28 in the near term.
Meanwhile, if the market participant believes it could be the end of the bearish trend, then they may find themselves trapped at highs. As a dreadful drop is expected to follow the minor upswing.
Below are the key points to be noted
- A false breakout could be expected as the levels reach beyond $0.27 levels
- The volume has been growing in case of liquidations and hence it can be assumed that the traders could have been more interested in shorting the price rather than long
- If the BTC price undergoes a dump, then the other altcoins are also expected to drop heavily in the coming days.
- The next targets to keep a close watch on that could be fine entry points are $0.25, $0.2, and $0.182.
Considering the above trade set up it is now extremely skeptical whether the ADA price will be able to survive the bear market or not. However, the upcoming yearly close could turn out to be more pivotal for Bitcoin as the Cardano (ADA) price and the other altcoins could follow the trend.
Binance Price Analysis: BNB/BTC Will Hit New Lows in 2023, Predicts Analyst
While Binance and Bitcoin are both losing grounds in the cryptocurrency market, one analyst believes the BNB/BTC pair will reach a low in 2024.
According to analyst Jason Pizzino, Binance Coin (BNB), the utility token of the world’s largest crypto exchange, is likely to reverse its trend on the Bitcoin (BTC) chart. He said that Binance Coin (BNB/BTC) may have reached a peak against Bitcoin (BNB/BTC) following a nearly two-year bull run.
“We’ve just started our first major month down to put in a potential top here on BNB/BTC. And this could last two years from that point,” he said.
He also said that BNB has shown similar bull and bear tendencies against Bitcoin since the pair’s introduction in 2017. From July 2017 through April 2019, the period lasted 21 months and he highlighted that Bitcoin reached a peak around June 2019 from that moment.
BNB then declined for 21 months against BTC value, reaching a low in January 2021 before rising to a peak in November 2022. So he said that no one can deny that there hasn’t been a definite bull and bear pattern for the past 21 to 22 months.
“Should this repeat, we have 22 months or 21 months to take us to around August of 2024. And if we wanted to go out for that 22 months, then it’s going to be around September of 2024.So sometime around August or September of 2024, this [BNB/BTC] chart may find a bottom.”
Binance’s native token, BNB, is the top trending cryptocurrency in Binance’s search bar, while Bitcoin, the most popular cryptocurrency in the market, is ranked second. According to the latest data from Crypto Differ, the ‘unknown’ token, HOOK, has risen to fourth place with a 5.1% increase in market price.
Crypto Price Analysis: DOGE, BNB, and DOT Price To Crash Soon?
Dogecoin, Binance Coin (BNB), and Polkadot (DOT) are some of the top cryptocurrencies in the market right now. But their prices have been on a rollercoaster ride lately, and there’s no telling when they might crash. This can be especially worrying for investors investing heavily in these cryptos.
Most of the time, when a digital currency takes a hit, it’s because of market conditions and investor sentiment. When there’s a bearish attitude towards the asset, people hesitate to invest in it, and its price may dip.
The case of Dogecoin has been hit by recent negative news about Elon Musk, who’s been a vocal supporter of the asset. This could be one reason for its recent dip. On the other hand, Polkadot and Binance Coin have been affected by Bitcoin’s price movements in recent weeks, as they tend to follow BTC’s lead.
Analyst Sentiments on DOGE, BNB, and DOT
Altcoin Sherpa is a famous cryptocurrency trader who regularly tweets about market trends and predictions. He’s been quite vocal recently about his bearish outlook on Dogecoin, Binance Coin, and Polkadot.
Altcoin predicts that the price of DOGE will return to the .057 area again. However, he also mentions that it could go even lower than that. Sherpa continues and talks about BNB and says that he does not see any positive catalysts for it to go higher in the near future.
Lastly, he mentions that Polkadot looks bearish, and soon it will grind down to sub $4 and doesn’t expect it to break out of its current downward trend anytime.
Looking at the 4-hour chart for DOGE, we can see that it is stuck in a descending channel, which means that it has been making lower highs and lower lows. The RSI indicator also indicates bearish momentum. The coin is trading today at a low price of $0.07417. The Bollinger bands are indicating some levels of volatility as the price is bouncing off them. Buyers need to be careful as there is a risk of the price falling further.
BNB is currently trading at a price of $248.62 within the last 24 hours. It has shown a downtrend of 0.03% and is trading within a descending channel. The RSI indicator also indicates bearish momentum, and the Bollinger bands indicate high levels of volatility. If buyers don’t come in soon, BNB could experience a further drop.
Polkadot is currently trading at a price of $4.60 within the last 24 hours. It has shown a downtrend of 0.49% and is trading within a descending channel. The RSI indicator also indicates bearish momentum, and the Bollinger bands indicate high levels of volatility. If buyers don’t come in soon, DOT could experience a further drop.
Conclusion
The prices of Dogecoin, Binance Coin, and Polkadot have been on a rollercoaster ride lately, and investors should be cautious before investing in any of these assets. Altcoin Sherpa has predicted a bearish outlook for all three, and investors should take note of his predictions. It’s also important to keep an eye on the market conditions and overall sentiment before investing in any crypto asset.
Bitcoin Price Analysis: Analyst Maps Next Levels For BTC Price
After Terra’s fall and FED’s policy that was kicked off in the year 2022, war broke out and the fallout from the FTX collapse was like the last straw.
Crypto has weathered the storms of the long crypto winter.
Smart contracter, a crypto analyst, has yet again come up with his analysis of the Elliott theory based on historical data to make sense of the new bear market lows. He employed Elliott Wave theory to technically analyze future price action by watching market players’ psyche, which emerges in waves.
New Bear Market Low for BTC?
According to the analyst who predicted Bitcoin’s (BTC) bottom for 2018, the dominant cryptocurrency is preparing for a new bear market low, which will be marked by a corrective move.
Bitcoin’s recent rise from its current bear market bottom of $15,546 is likely coming to an end, analyst Smart Contracter (a pseudonym) informs his 216,200 Twitter followers.
For the time being, “I still believe that the current rise higher on BTC is part of a corrective ABC wave four before making a new low sub-$15,000 in Q1 2023 where they discover a longer-term bottom.”
What Next For Bitcoin Price?
It is postulated that a downward trend takes the form of five waves, with the asset experiencing brief reversals between waves two and four.
Going with Smart Contracter’s analysis, Bitcoin is nearing the end of its wave four bounce and getting ready for the last drive toward $18,000. The analyst forecasts that after this point, BTC will continue its slide to its target of roughly $14,500, thus completing the five-wave cycle.
Bitcoin is trading at $16,979 at the time of this writing, which would mean a drop of roughly 15% if BTC were to fall below the minimum threshold set by Smart Contractor.
The US dollar index (DXY), which the crypto analyst claims are emitting optimistic signals, is another indicator that he is closely monitoring.
However, today’s significant DXY reversal is not what crypto bulls want to see. Despite the best possible scenario, he believes it will still bounce to between 108-109, which will probably push cryptocurrency lower.
A strong index signals that investors are selling risky assets like equities and bitcoin in favor of the US dollar, thus traders are closely monitoring the DXY.
Will BTC Surge Up?
Credible, a fellow Elliott Wave theorist, predicts that Bitcoin will explode past the $18,000 resistance level. The expert tweets to his 336,200 followers on Twitter that the one-hour chart of Bitcoin shows an uptrend and that a significant bounce appears to be imminent.
Overall, the Elliott Wave theory states that in an uptrend, an asset will experience five waves, the first three of which will be uptrends. The expert believes that the wave two corrections in BTC will terminate above $16,400, setting off wave three rallies above $18,000.
Conclusion
Bitcoin’s (BTC) price is projected to initially test $16,000 to 16,500 and then surge to $18,500 to $19,000. While this forecast may give investors hope, in the long run, it also ignores the fact that the current crypto winter is expected to last until at least May 2023.
As an added bonus, the price may go as high as $30,000, with $22,000, $26,000, and $28,000 as potential stopping points.
2023, Year of the Bull? An analysis of the potential of Chiliz(CHZ), VeChain(VET) & Toon Finance(TFT)
In this blog post, we will be analyzing the potential of three popular cryptocurrencies – Chiliz(CHZ), VeChain(VET) & Toon Finance(TFT). We will be looking at their price performance in the past, their technology and use cases, as well as their potential growth in the future. Based on our analysis, we believe that all three cryptocurrencies have great potential and could reach new all-time highs in 2023.
Chiliz(CHZ)
Chiliz $CHZ is a digital currency for sports and entertainment platforms. It powers the fan-engagement ecosystem Socios.com. Some of the world’s biggest sports teams including FC Barcelona, Juventus, Paris Saint-Germain, AS Roma, Galatasaray are already on board with Socios.com with many more to come. CHZ tokens give fans voting power and access to exclusive fan rewards. In the past year, CHZ has seen a price increase of over 1600%. As more and more sports teams adopt crypto and get on board with Socios.com, we believe that CHZ has great potential to reach new all-time highs in 2023.
What is Chiliz?
Chiliz $CHZ is a digital currency for sports and entertainment platforms. It was founded in 2017 by Alexander Dreyfus with the goal of tokenizing the world of sports and entertainment. The Chiliz token $CHZ is built on the Ethereum blockchain and is used to power the fan-engagement ecosystem Socios.com.
Socios.com is a platform where fans can buy “Fan Tokens” of their favorite sports teams. These tokens give fans voting power and access to exclusive fan rewards. Currently, some of the world’s biggest sports teams including FC Barcelona, Juventus, Paris Saint-Germain, AS Roma, Galatasaray are already on board with Socios.com with many more to come.
Why We Like Chiliz $CHZ
We believe that Chiliz $CHZ has great potential for growth in 2023 for 3 main reasons:
1)Chiliz has partnered with some of the biggest names in sports
2)The adoption of cryptocurrencies by mainstream financial institutions is increasing
3)The market for non-fungible tokens (NFTs) is growing exponentially
1.) Chiliz has partnered with some of the biggest names in sports: As mentioned earlier, some of the world’s biggest sports teams have already partnered with Socios.com including FC Barcelona, Juventus, Paris Saint-Germain, AS Roma, Galatasaray. We believe that as more and more sports teams adopt crypto and get on board with Socios.com, the demand for CHZ will increase which will lead to a price increase.
2.) The adoption of cryptocurrencies by mainstream financial institutions is increasing: In February 2021, cryptocurrency exchange Coinbase went public via a direct listing on Nasdaq valuating the company at $85 billion dollars. This event marked a major milestone for the cryptocurrency industry as it showed that cryptocurrencies have gone mainstream. As institutional money continues to flow into cryptocurrencies, we believe that the price of CHZ will continue to increase.
3.) The market for non-fungible tokens (NFTs) is growing exponentially: According to NonFungible.com, the total market value of NFTs has grown from $24 million in January 2020 to $402 million in January 2021, an increase of 1667%! We believe that as the market for NFTs continues to grow at an exponential rate, so too will the price of CHZ.
In conclusion, we believe that Chiliz $ CHZ is a sleeping giant that is set to wake up in 2023. With a strong team, partnerships with some of the world’s biggest names in sport , and increasing institutional adoption , we believe that CHZ has great potential to reach new all – time highs this year .
VeChain(VET)
VeChain is a blockchain platform that provides solutions for businesses of all sizes. With its robust technology, VeChain strives to create a trustless and distributed ecosystem that makes it easy and convenient for everyone involved. Some of the notable partnerships that VeChain has include BMW Group, PwC, BabyGhost, Intel, Microsoft, etc.
In the past year, VET has seen a price increase of over 300%. And we believe that there is still room for growth. With VeChain’s strong partnerships and technology solutions, we predict that VET will reach new all-time highs in 2023.
The Benefits of Blockchain Technology
Blockchain technology helps businesses keep track of their digital assets transparently and securely. The data is immutable and traceable, so businesses can reduce the chances of fraud. And because blockchain is decentralized, it’s also more secure from hacks.
VeChain uses blockchain technology to help businesses keep track of their products and information. With its immutable and traceable data, businesses can reduce the chances of fraud. The decentralized nature of blockchain also makes it more secure from hacks.
VeChain’s Strong Partnerships
VeChain has partnered with some of the biggest names in various industries. These partnerships give VeChain access to new markets and increase the adoption rate of blockchain technology.
Some of these notable partnerships include BMW Group, PwC, BabyGhost, Intel, Microsoft etc.
These partnerships are a testament to the trust that businesses have in VeChain’s technology solutions.
Reasons to Invest in VET
1.) VET has seen a price Increase of over 300% in the past year alone and we believe there is still room for growth;
2.) With its strong partnerships and cutting-edge technology solutions, VeChain has great potential to reach new all-time highs;
3.) Blockchain technology is here to stay and VET presents a unique opportunity to get involved early on;
4.) By investing in VET now, you’ll be able to take advantage of the potentially high return on investment that VET offers.
If you’re looking for an opportunity to get involved in blockchain technology early on, then investing in VeChain (VET) is a smart choice. With its strong partnerships and cutting-edge tech solutions, VET has great potential to reach new all-time highs within the next few years. So don’t miss out – invest in VET today!
Toon Finance(TFT)
Toon Finance is a Defi protocol built on Binance Smart Chain that focuses on providing stable returns with minimal risk. TFT tokens are backed by a pool of assets which are chosen by the Toon Finance team based on their liquidity, yield and stability. In the past year, TFT has seen a price increase of over 400%. We believe that TFT has great potential to reach new all-time highs in 2023 as more people adopt DeFi protocols and investors look for ways to earn yield with minimal risk. With a big community and a team that has a lot of experience, we think Toon Finance is a project to keep an eye on in the coming year.
How Does Toon Finance Work?
The Toon Finance protocol is designed to automatically rebalance a portfolio of assets in order to minimize risk and maximize returns. When you deposit into the Toon Finance protocol, your funds are converted into TFT tokens. These tokens are then used to buy a basket of underlying assets which are chosen by the Toon Finance team. The weighting of each asset in the basket is constantly rebalanced in order to achieve the optimal mix of risk and return.
Toon Finance plans to support a lot of tokens and altcoins on their social platform. The cost of entry is very low, making it accessible to a wide range of users. The team behind Toon Finance is experienced and has a proven track record in the industry. They have successfully completed Stage 1 of their ICO presale, which is a great achievement. The community around Toon Finance is growing rapidly, with over 23,000 active members. This shows that there is a lot of interest in what they are doing. The team has plans to add support for more assets in the future, which will only increase the appeal of Toon Finance.
The Benefits of Toon Finance
The main benefit of using the Toon Finance protocol is that it offers investors a way to earn stable returns with minimal risk. The returns are generated by the interest earned on the underlying assets as well as any appreciation in the value of those assets. The Toon Finance team does all the heavy lifting when it comes to managing the portfolio so that investors can earn passive income without having to worry about market fluctuations.
Another benefit of using Toon Finance is that it’s very easy to get started. There’s no need to go through a lengthy KYC process or open up a complicated trading account.
Why We’re Bullish on Toon Finance in 2023
We’re bullish on Toon Finance for a few reasons. First, we believe that DeFi protocols will continue to gain in popularity as more people become aware of them and start looking for ways to maximize their returns with minimal risk. Second, we think that TFT has one of the best teams in the space with a lot of experience in both traditional finance and cryptocurrencies. And third, we believe that TFT tokens have great potential due to their utility as both a payment token and a staking token.
As more people adopt DeFi protocols, we believe that TFT will continue to see strong demand due its low risk/return profile and ease of use. We think that 2023 could be a breakout year for TFT as it reaches new all-time highs and becomes one of the top DeFi protocols on Binance Smart Chain.
In conclusion, we believe that Toon Finance is a Defi protocol with great potential due to its low risk/return profile and ease of use. We think that 2023 could be a breakout year for TFT as it reaches new all-time highs and becomes one of the top DeFi protocols on Binance Smart Chain. If you’re looking for a way to earn passively income with minimal risk, then Toon Finance may be worth considering.
To participate in Toon Finance’s presale, here are the links below:
Website: https://toon.finance/
Presale: https://buy.toon.finance/
Twitter: https://twitter.com/ToonSwapFinance
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.
Bitcoin Price Analysis: $14K or $18K, What Next For BTC Price?
For the whole cryptocurrency market, both in terms of pricing and general events, the previous week was largely favorable. While the FTX meltdown hangs over the industry, most market players continue to be concerned about the contagion that is spreading.
However, the outlook for the price of bitcoin has changed from bullish to bearish as the king cryptocurrency consolidates in a tight range between $16,000 and $17,250 as a result of existing FUD.
BTC Price Heading To This Level
Veteran trader and analyst Peter Brandt predicted that the price of Bitcoin will fall to $14,000. CTO of Digital Wealth Daniele Bernardi says that the price of bitcoin will fall to $14,500. Although, the analysis by Bernardi is supported by a mathematical examination of computer models built using previous Bitcoin price information.
“Bitcoin is extremely repetitive in the cycle, based on the halving that happens more-or-less every four years, and which cuts rewards for miners. So basically we analyze a lot of the quant data related to this, and discovered a huge pattern in these movements.”
According to another expert Michael van de Poppe, the price of Bitcoin will reach $10,000. However, if it rises above the $16,800–17,000 area, the price of bitcoin might skyrocket to $18,400. He said that the range for support is $16,250–16,450.
Fundamental sentiment is still bullish: Raoul Pal
While the crypto industry is experiencing a strong bearish sentiment, macro specialist and former Goldman Sachs executive Raoul Pal says its fundamentals are still solid. In a recent interview with Impact Theory co-founder and host Tom Bilyeu, Pal said that investor negativity is at its highest level ever, but also said that this whole thing is a psychological and long-term game.
“If you look at the past cycle, so the 2017 peak to the low in 2019, we lost about 80% of the active wallet addresses. When I look at it now, we’ve lost about 30% because the adoption keeps rising,” said Raoul Pal.
Crypto Price Analysis for the Weekend-What to Expect from BTC, ETH, XRP, and ADA in the Next 48 Hours!
After the FTX collapse, the markets took up the prevailing situation and underwent a notable recovery during the previous day’s trade. The crypto market cap also almost reached the $900 billion mark and in the time when a breakout was close to being accomplished, the rounds of FTX being hacked circulated within the space.
The majority of the asset dropped down creating a huge FUD within the space, expelling the FTT price out of the top 100 assets as per the market cap. Meanwhile, the speculation of the hack carried out by the insiders emerged which created a hassle within the markets. However, the upcoming weekend appears to be pretty crucial for the crypto space as it may impact the upcoming price movements.
Bitcoin(BTC)
Bitcoin price has dropped below $17,000 amid the fresh selling pressure being induced during the early trading hours. The token is expected to rise and close the weekly trade above $17,200 to set up a bullish trade for the coming week. Else, if it fails to do so, the price may again drop below $16,500, which may trigger the bears, who may further attempt a steep descending trend below $16,000.
Ethereum (ETH)
Ethereum’s price maintained its strength, notably amid the recent market crash. The second largest crypto sustained above $1000 & quickly regained levels above $1200. A weekly close above $1280 appears to be mandatory to set up a bullish start for the coming week. Else, a drop may compel the price to drop below the immediate support at $1240 to plunge below $1200 for a while.
Ripple (XRP)
Ripple price is also displaying a similar price action after it faced rejection at $0.4 in the past few days. Meanwhile, the XRP price drained notably by nearly 8% flashing some bearish signals to prevail over the weekend. In such a case, the price may test the immediate support at $0.35 and ignite a rebound, or else flip from the current levels at $0.37 to reclaim $0.4 at the earliest.
Cardano (ADA)
Cardano’s price has been adversely impacted by the current market trend as investors flee from crypto. The asset has been facing huge criticism due to its stagnant trend as the price volatility has been dropping significantly. Even if the price ignites a rebound, it may be restricted below $0.4 as the absence of bulls may compel the price to remain within a consolidated range for a long time.
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Luna Classic Price Analysis: Bears Still Continue to tear LUNC Price
Terra luna classic is now trading at 0.00023 with a 3% decrease in price over the past 24 hours. A severe downswing appears to be largely imminent as the bears appear to have tightened their grasp and try to tear LUNC price down. Since yesterday, the price has moved in a downward direction and has continued to do so today.
The one-day analysis shows strengthening bearish momentum. The continual downflow has caused the price to decline to $0.00023. For cryptocurrency, the last few days have been rather depressing due to a strong downward trend.
The past 24 hours have also seen reports of similar tendencies. Additionally, the price has fallen below the moving average (MA) value, which is at $0.00023.
The Bollinger bands are pushing towards each other a significant sign that LUNC is currently bearish. The signal line has already crossed over the MACD line to clearly show that the LUNA classic is bearish at the moment. The RSI is heading towards the overbought level as it stands at 41.
The LUNC’s bullish tendency has been throughout the previous month. If this pattern holds, LUNC might cross over its resistance level at $0.00027 by moving with the bulls.
As a result, if investors start to lose interest in cryptocurrencies, the price of LUNC could rapidly decline to approximately $0.00001, sending a bearish signal.
From the 4-hour chart above, LUNC is still on the bearish momentum at the time of writing with a 3.20% decrease. The price has been steadily falling as the cryptocurrency’s trend has been downward.
In the past four hours, there has been a decline in price, and the price level has fallen to $0.00023. Moving on, the moving average indicator currently displays a value of $0.00024.
Since the start of the October trade, TerraClassic price movements have been on a sharp downward trend. The asset experienced a strong rise as Binance validators burned almost 1.5 billion LUNC tokens, however, this upswing was futile as bears swiftly pulled the price lower. This might be the key reason for Terra Lunc decline.
conclusion
A downturn has been present for the previous several hours, according to the one-day and four-hour price analyses. The price levels have dropped to $0.23 as a result of the bears currently controlling the game.
Given that the bears have been in charge for the previous several hours as well, a further decline is to be anticipated. The price has been steadily declining, therefore the chances of an improvement for the bulls are still rather slim.