Solana Co-founder Talks About Altcoin Challenges, Polygon’s Blockchain To Undergo Hard Fork While Snowfall Protocol Alerts Investors About Scammers
Top crypto projects, including Polygon (MATIC) and Solana (SOL), have been working hard to complete advanced solutions brought by new projects like Snowfall Protocol (SNW). Investors have also become keener on which crypto projects they must invest in 2023.
Read ahead to know interesting happenings around these crypto projects.
Anatoly Yakovenko shares Solana’s (SOL) challenges and needed solutions while the price reaches $22.05
The Solana (SOL) community has been reviewing the challenges they face while trading on the platform. The co-founder of Solana (SOL) openly shared the drawbacks of altcoin. He discussed some of the major issues of Solana (SOL), like constant outages, certain levels of centralization, firm market corrections, etc.
He also mentioned that these issues have frustrated Solana (SOL) investors, which might lead them to withdraw their investments soon. However, he also pointed out that Solana (SOL) has recently implemented a 2nd validator built by Jump. It indicates that Solana (SOL) users will not face any issues if bugs attack one of the validators. Solana (SOL) also became the world’s 2nd altcoin that has more than one validator that works independently.
The promising solutions of Solana (SOL) platform have impacted its price positively. Solana (SOL) is selling with a live price of $22.14, which is a 34.21% increase within a day.
Polygon (MATIC) proposes a hard fork; the price goes 6.02% up
Polygon (MATIC) community will soon vote on its PoS blockchain’s hard fork proposal.
If the Polygon (MATIC) community approves it, the software upgrade will happen in January.
The Polygon (MATIC) hard fork will target two major issues that the project often faces: Reorgs or chain reorganization and gas fee spikes. Thus, Polygon (MATIC) hard fork will adjust the gas fee structure of the platform and reduce the fee during high chain activities. Additionally, the Polygon (MATIC) hard fork will assure proper transaction verification within a short time when the network experiences reorg.
The Polygon (MATIC) hard fork may boost the token price and offer better rewards to Polygon (MATIC) community members and validators. Polygon (MATIC) currently has a live price of $0.9718, which is 6.02% up in the past 24 hours.
Snowfall Protocol (SNW) calls out scammers to protect its investors’ money
Snowfall Protocol (SNW) has performed extremely well in its presale phases, which have attracted both investors and scammers. Snowfall Protocol (SNW) noticed a few fake websites that are trying to sell duplicate Snowfall Protocol (SNW) tokens.
Snowfall Protocol (SNW) Twitter handled immediately pointed this out through a detailed post. The post shared the original address for Snowfall Protocol (SNW) to help new investors recognize real Snowfall Protocol (SNW) tokens.
The post also mentioned that the official launch date for Snowfall Protocol (SNW) is very close, and the crypto project is available on the Binance Smart Chain network.
Snowfall Protocol (SNW) token has a current price of $0.191, which is predicted to grow by 5000% soon. So, buy in the Snowfall Protocol (SNW) presale from its official website and earn multiplied returns later.
Get in while you can and invest in Snowfall Protocol (SNW) today!!!
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Polygon Hard Fork By Next Week, Here Is What To Expect
It was in the last month that the Polygon Governance Team had invited the community on their platform to discuss the changes in the Polygon PoS chain. Now the latest updates come with the network planning to launch its hard fork by next week confirmed through Polygon’s official blog post.
As per the post, the hard fork is expected to be launched on January 17 which aims to limit the increasing gas fee along with address chain reorganization which is called as reorgs.
Polygon Hard Fork Aims To Reduce Gas Fee
Polygon, which runs on a proof-of-stake mechanism, has comparatively lower gas fee than Ethereum. However, Polygon network often experiences a reduced network speed when the activity over the network increases. Firstly, as mentioned above the hard fork intends to reduce gas fee surges which happens when the network experiences increased activity on the chain.
Next is the address chain reorganization which takes place when a validator node receives information which creates a new version of blockchain. Even though this new version is temporary, it creates difficulty in verifying the success of a transaction
To solve the reorgs issue Polygon aims to bring down the time it takes to finalize a block in order to verify successful transactions. For this the network uses sprint length which reduces block to 64 to 16 where a block producer can create block in just 32 seconds when compared to earlier 128 seconds.
Hence, all the nod operators on the Polygon network will have to upgrade their nodes before January 17. However, Polygon’s MATIC holders are not required to make any move.
XRP Price Might Crash Hard in 2023: Analyst Maps Low Levels
The price of XRP has recently been rejected at important points as the asset continues to be impacted by numerous events, from legal to market sentiment.
cryptocurrency analyst Michal van de Poppe stated that XRP has encountered resistance at the $0.37 level and may return to the $0.343 level quickly based on its previous movement.
As per analysts, there is significant liquidity on the downside that could be taken advantage of if the price does not bounce back. He drew parallels between the current state of XRP emphasizing the importance of the $0.265 level as a significant support level for the token.
Ali Martinez, another cryptocurrency expert, agrees with van de Poppe’s assessment and believes that XRP’s price may halt its climb due to certain technical indicators.
The TD Sequential, a technical indicator used to identify the end of a trend and the potential for a price reversal, is reportedly showing a strong sell signal on the XRP price chart for the four-hour time frame.
The price of XRP has fallen below key levels like $0.3616 and reached a new monthly low only the week before last. It is likely to continue declining as there is no clear support in sight and the Relative Strength Index is not close to being in oversold territory.
At the time of writing, one XRP is worth $0.3439, representing a 1.17% increase over the past 24 hours but a 2.3% decrease over the past seven days.
Sellers may try to take advantage of any weakness in XRP to bring the price down to the key support level of $0.30. If they are unable to stop the decline and the price breaks below the $0.30 support level, it could lead to new, lower lows in 2023 and a pessimistic start for XRP.
Ethereum (ETH) Price to Drop Hard in the Next 3 Days-May Even Mark the Bottom of the Cycle
The second-largest crypto, Ethereum, has sustained above the crucial $1100 price level each time it drops amid the mounting bearish action. While the other assets including Bitcoin price plummeted by nearly 50%, ETH price marked new lows below $1000. While the current rebound is expected to reclaim the lost levels, the possibility of another leg down emerges.
The ETH price was trading within a decisive symmetrical triangle ever since the price trying hard to rebound from the crash led by the fall of the Terra ecosystem. Presently, the price volatility has dropped heavily and hence the asset is approaching the pinnacle by trading within a very narrow range.
However, as per the new trade set-up, the ETH price is believed to pull a massive leg down very soon.
Source: Tradingview
The Ethereum price is now flashing extreme bearish signals in various time frames as the conditions are more favorable for state 2 expansion towards the south. In the higher time frame as the 3-week chart displays the possibility of a bearish divergence which may be ignited with the next upcoming candle.
Woefully, this is just 3 days away and hence the weakness behind the distribution phase may not be completely nullified.
As the ETH price is trading within the Wyckoff mode and about to begin the 5th wave of the consolidation, a slight sign of weakness may drag the price as low as $875 and $625. Therefore, the upcoming couple of weeks appear to be extremely crucial, as a notable price plunge may kick in if the bears regain their dominance over the asset again.
Ethereum Price Just Signalled a ‘Sell’, This is What One Can Expect After the Shanghai Hard Fork!
Ethereum’s price appeared to be pretty strong in the times when the crypto markets remained sluggish. Despite a couple of bullish jumps, ETH price continues to remain under the bearish influence and also displays the possibility to remain bearish for a long time. Apart from the current descending trend, mass Ethereum selling may also kick off soon which may strengthen the bearish group over the space.
The ETH price began with a fresh decline as it faced a rejection below $1300 which flashed huge bearish signals. The price which is now trading below $1290 at 100-hr SMA, broke below a major bullish trend line having as the support. Further, the price settled below 0.618 FIB levels from the upward wave to hit $1240 from the highs around $1349.
The next major resistance for the ETH price could be around $1350, beyond which it may rise to test $1400. Moreover, extended gains may further rise towards $1480. On the contrary, if the ETH fails to surge beyond $1300, it is expected to drop toward $1260 or lower. In such case, the next major support levels could be around $1240, below which the price could gain bearish momentum towards $1200 support.
More Bearish Pressure Incoming for Ethereum (ETH) Price
Ethereum platform recently underwent a network upgrade, where-in it switched from Proof-of-Work to Proof-of-Stake without halting the platform. This transformation required the validators to stake ETH on ETH 2.0 platform. Interestingly, the total amount of ETH staked on the platform surpassed the required amount and is marking new highs every new day.
Presently, the ETH 2.0 contract address holds nearly 12% of the entire supply which is getting shrunk with every transaction due to the burn mechanism. This may further lead to a huge drop in the exchange reserves while TVL could keep on rising high which is an alarming situation when the Shanghai Hard Fork is fast approaching.
As per a popular crypto analytical platform, the supply that has begun to decline since the Merge could change the supply & demand dynamics. This could induce significant volatility that may trigger a mass selling post the Shanghai Hard Fork!
Revolutionary Crypto Analytics Platform Dash 2 Trade Lowers Hard Cap and Confirms Major CEX Listings
Pioneering crypto analytics project Dash 2 Trade has officially announced that it will end its presale in the coming weeks due to exceptional investor demand.
Originally slated to last for nine stages, the Dash 2 Trade presale will now end after Stage 4 – meaning the development team will lower the hard cap to $13.4m
With over $7.4m in funding already raised, the common consensus is that this hard cap will be met in the coming weeks. As such, investors have a limited time to buy D2T tokens at a discount before they hit the broader market.
High Investor Demand Prompts Presale Revision
Many crypto presales experience substantial demand in their first few weeks post-launch – yet nobody could have predicted the extent of this demand for Dash 2 Trade.
Launched in late October, Dash 2 Trade’s presale has generated over $7.4m in just over a month. This is even more impressive considering the Dash 2 Trade ecosystem is still in development – and highlights the growing need for practical analytics tools.
Much of this need can be attributed to the volatile market forces stemming from FTX’s collapse. The fear and uncertainty prevalent amongst crypto traders have caused unusual price movements – making it difficult for these traders to operate profitably.
For this reason, Dash 2 Trade’s team has decided to end the project’s presale phase after Stage 4 and launch straight into a beta phase. This decision was taken with the investment community’s interests in mind, as it’ll mean traders can access Dash 2 Trade’s tools and services much earlier than anticipated.
Although the presale is expected to hit its hard cap in the coming weeks, investors can still buy D2T tokens at a discount. Stage 3 is ongoing at the time of writing, meaning D2T tokens are priced at just $0.0513.
Once in Stage 4, the token price will rise to $0.0533. Thus, the current price is the lowest that investors will be able to obtain D2T before the token is listed on major CEXs and DEXs.
New CTO and Community Manager Strengthen Dash 2 Trade’s Team
To help foster Dash 2 Trade’s growth, the development team has opted to bring two high-profile names on board.
Firstly, former ConsenSys team leader Ilyes Kooli has joined the team as Chief Technology Officer (CTO). ConsenSys is one of the world’s leading Ethereum software companies, helping developers construct dApps and participate in the NFT and DeFi sectors.
Ilyes has also held prominent roles at CocoLabs and Cobania, highlighting his extensive experience within the crypto space. Dash 2 Trade’s platform will undoubtedly benefit from this experience, helping drive the innovation needed to make it a world-class product.
Secondly, Trevor M. has joined the team as Community Manager. Trevor has three years of experience as a YouTuber and also produces videos for CoinMarketCap, which is owned by the market-leading exchange Binance.
Trevor’s knowledge of the crypto market and ability to distil complex information into easily-understandable messaging will be crucial to Dash 2 Trade’s future growth. Moreover, Trevor will play a key role in updating community members with the latest goings-on within the Dash 2 Trade project.
Major CEX Listings Look Set to Spur Rapid Growth
The addition of Ilyes and Trevor to Dash 2 Trade’s team is a massive boost to the project’s prospects – yet the development team isn’t stopping there.
Although Dash 2 Trade’s roadmap notes plans for a CEX/DEX listing drive in Q1 2023, the incredible success of the project’s presale has prompted leading platforms to pick up on D2T tokens early.
LBank, one of the top 25 crypto exchanges in the world, recently announced that it would list D2T tokens “soon”. Not long after this, BitMart followed suit – meaning that traders will be able to buy, sell, trade, and speculate on D2T in the coming weeks.
Not only will the looming LBank and BitMart listings dramatically increase liquidity, but they’ll also help boost awareness of the D2T token. Moreover, new token listings tend to create a ‘snowball effect’ leading to further listings – so all eyes will be on the Dash 2 Trade Telegram channel for any announcements.
Why the Hype Around Dash 2 Trade?
So why is Dash 2 Trade attracting so much attention from investors, and why have leading exchanges pledged to list D2T before the project is officially released?
The reasoning behind this can be traced to Dash 2 Trade’s pioneering crypto-intelligence platform – a one-of-a-kind ecosystem that contains all of the tools and services traders need to be successful.
Those familiar with the crypto market will understand that digital currencies are much different than ‘traditional’ asset classes, such as equities and commodities. As such, investors must analyze these currencies in a unique manner, and new strategies must be deployed to trade them effectively.
This is where Dash 2 Trade comes in, as the platform will offer an array of features to empower traders within the crypto market. These features will include regular trading signals, real-time price charts, advanced technical indicators, on-chain analytics – and even a tailor-made presale scoreboard.
As if this wasn’t enough, Dash 2 Trade’s team is putting the finishing touches on a fully-fledged strategy builder with backtesting capabilities. This means that users can develop their own strategies and test them out using historical price data before deploying them in the live market.
As per Dash 2 Trade’s whitepaper, users will need to pay a monthly subscription in D2T to access the ‘Starter’ and ‘Premium’ tiers – both of which contain the most valuable tools and features.
This is where D2T derives its value – and why many market commentators believe it could be one of the fastest-growing crypto tokens of 2023.
Dash 2 Trade’s Marketing Steps Up a Notch
Although much of the focus has been placed on the upcoming launch of Dash 2 Trade’s trading dashboard, the development team has also been hard at work from a marketing perspective.
Dash 2 Trade’s website has been completely redesigned, featuring exclusive images of the platform and a handy matrix comparing its features with its competitors.
Users can easily see that Dash 2 Trade stands out from the crowd and offers a comprehensive feature set that traders cannot find elsewhere in the market. The website also showcases D2T’s tokenomics, clearly stating what the tokens will be used for – ensuring an air of transparency.
Dash 2 Trade’s website also provides links to the smart contract audit by SolidProof and the KYC verification by CoinSniper – adding a level of credibility that is rarely seen with crypto presales.
Finally, the new website even showcases Dash 2 Trade’s veteran team – many of whom helped build the 70,000-strong Learn 2 Trade education platform. Each team member has a direct link to their LinkedIn page, so would-be investors can gain an understanding of who’s behind the project’s development.
How to Buy D2T Tokens – Step-by-Step Guide
Those looking to buy D2T tokens now can still access them through the presale – with tokens currently priced at $0.0513. Detailed below are the four quick steps investors can take to purchase D2T today:
- Step 1 – Set Up a Crypto Wallet: Set up a MetaMask wallet (desktop users) or a Trust Wallet (mobile users). Once set up, import the D2T contract address, which investors can find on Dash 2 Trade’s homepage.
- Step 2 – Acquire ETH or USDT: Purchase Ethereum (ETH) or Tether (USDT) from a broker or exchange. Investors can also buy ETH through Dash 2 Trade’s website using a credit/debit card.
- Step 3 – Link Wallet to Presale: Go to Dash 2 Trade’s website, click ‘Connect Wallet’, and follow the on-screen instructions to make the link.
- Step 4 – Buy D2T Tokens: Choose whether to fund the purchase using ETH or USDT, enter the number of D2T tokens to be bought (minimum 1,000) and confirm the investment. Once the presale ends, investors can claim their tokens through Dash 2 Trade’s website.
Website: https://dash2trade.com/
Bitcoin Bull Run Is Not Happening Soon! BTC Price May Plunge Hard To These Bottom Levels
The FTX-Alameda drama has sent a bearish shockwave to the entire crypto market, wiping nearly 20% of the total global crypto market capitalisation since FTX’s native token collapse.
Moreover, the recent withdrawal of FTX’s acquisition deal by Binance has created enough turmoil to build massive selling pressure for leading assets like Bitcoin, pushing it below the support level of $17K.
Bitcoin Shows Warning Signs Of A Bearish Trend!
The domination of bears has been further triggered amid the current market crash led by FTX’s native token FTT’s collapse.
The global crypto market keeps itself under massive selling pressure, forcing Bitcoin investors to liquidate their positions to avoid any upcoming sudden loss-making price fluctuation.
Additionally, the crypto exchange inflow saw a surge of over 5000 BTC in the last 24 hours, hinting at a panic situation among investors.
A prominent crypto analyst firm, Rekt Capital, predicted that Bitcoin might retrace more to the downside as it recently broke its support level, formed during the previous crash in June.
According to Rekt Capital, BTC’s recent breakout below its monthly support level of $17,400 could turn into a fresh resistance level in the BTC price chart if it witnesses more dips.
Moreover, BTC may follow its historical price correction as it can make a bearish price correction of 84.5% following its 2021 bearish cycle. In that case, the BTC price may make a low of $11K in the upcoming days.
The analyst further highlighted that the crash of a crypto exchange has historically brought bear cycles for Bitcoin, and this bearish trend of BTC is no exception following FTX’s demise.
Rekt Capital mentioned that seller exhaustion is one of the major factors in accelerating the downtrend as it said,
“Capitulation cannot take place in one take. When sellers are exhausted on a strong move down, it doesn’t take many buyers to promote a strong bounce. But when the bounce loses steam, sellers return to pile on the pressure.”
BTC Tends To End On A Bearish Note
After slipping to the lows of $15.5K, Bitcoin has been making a slow and steady upward rise following the positive consumer price index (CPI) data released by the U.S. Bureau of Labor Statistics.
Our technical analysis reveals that there may be further bearish momentum for BTC before skyrocketing by the beginning of 2023.
The RSI-14 is hovering around a range of 34, gearing up to take BTC to the next support level.
The Bollinger bands are also getting closer as the lower limit is at $15.8K, an immediate support level for Bitcoin.
If BTC price retraces below and trades near $15K, we can anticipate a further bearish trend which can head towards the next support level of $14.1K by the end of December.
The MACD line is dropping vertically, building a quick support region for Bitcoin below 23.6% Fib retracement from its current value.
However, a bullish comeback for Bitcoin is not happening soon as BTC will likely consolidate in a bearish trend till this year’s end before sparking a fresh surge in 2023.
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Ethereum May Slump Hard To $700! Here Are The Bottom Levels For ETH Price Amid Market Crash
The crypto market is currently haemorrhaging in one of the largest slumps faced this year, ignited by the battle between FTX and Binance this week.
The acquisition of FTX by Binance has led to one of the fastest and most impactful crypto market crashes, which has bled nearly $130 billion from the market cap in the last 24 hours.
Several cryptocurrencies are facing their worst trading sessions, whereas leading assets like Bitcoin and Ethereum plunge by 15%.
Ethereum Begins Its Trailer Before Plunging Hard
The global macroeconomic factors were not enough, as the collapse of the FTT token and Sam Bankman-Fried’s empire are now playing the leading role in marking a prolonged bearish impact on the crypto space.
The global crypto market is now trading at the lowest level since September as it has entered the final support zone. Most of the major cryptocurrencies are gaining pace to drop in value, and Ethereum is not behind in joining the race.
According to a prominent crypto analyst, CryptoCapo, Ethereum may get hit hard by the negative market sentiments and trigger a strong bearish momentum in the price chart.
CryptoCapo analyzed that ETH price may plunge hard as it has been making long bearish candles in the price chart since the market crash.
He predicted that Ethereum might reach a bottom price range of $700-$750 if it fails to hold its support level near $1,250.
Moreover, another crypto analyst, Justin Bennet, predicted that Ethereum might repeat its 2018’s bearish market trend, where ETH lost over 94% of its value, plunging from a high of $1,440 to a low of $86. The analyst mentioned,
“Reminder: The ETH bottom is probably closer to $300 than $1,000. The only thing that has changed is Ethereum being one step closer to its macro bottom. Just my opinion, as always.”
Ethereum May Reach Triple Digits!
Ethereum has been experiencing a stable bearish trend since September, and now the momentum is further accelerated by the weekly sell-off due to FTX’s demise.
According to CoinMarketCap, Ethereum is trading at $1,164 with a downtrend of 25%.
Looking at the daily price chart, Ethereum made a false breakout above the resistance level of $1,600 and significantly dropped to a low of $1,233 yesterday.
The Bollinger bands are forming a supportive region for Ethereum in the price chart as the lower limit is at $1,031, acting as a crucial support level.
The RSI-14 trend line has been making a vertical line downwards from a level of 61 to 32, showing that Ethereum may head toward $850 if the crucial support level breaks.
EMA-100 and EMA-200 are leaning downwards, hinting at an acceleration of ETH’s current bearish trend till it reaches the $1K mark.
However, Ethereum is anticipated to make a bullish recovery if it stabilizes its price after falling below $800. The Bollinger band’s upper limit will be at $1,134, a bullish target for Ethereum if it makes a bounce back near $1000.
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Altcoin Season Alert! These Altcoins to Thrive Hard While Bitcoin’s Volatility Spikes!
The crypto space appears to be gearing up for a notable upswing as the FOMC meeting is expected to wake up the stagnant assets. Bitcoin price which propelled beyond $20,400 in the recent past is expected to reclaim the levels above $21,500, soon after the new rates are announced. In the meantime, the altcoins like Ripple(XRP), Cardano(ADA), and BiannceCoin(BNB) prices are expected to thrive hard.
Ripple (XRP)
The ripple effect had calmed down as the XRP price reached the immediate high close to $0.55. While a significant plunge was expected due to the formation of a double top pattern, the bulls somehow managed to restore the levels above $0.45 at the moment. However, notable volatility is expected to kick in soon which may rise the prices beyond $0.5 initially.
The XRP price has been notably bearish ever since it marked the October highs at around $0.5476. However, the price has slightly changed its trend and begun to trade within an ascending parallel channel. While the bearish trend appears to have gained some strength presently, the possibility of breaking down from the pattern emerges. However, it may be further followed by a quick rebound to ignite an upswing back toward the resistance very soon.
Cardano (ADA)
The ADA price has been heavily suppressed ever since the market collapsed in the month of May 2022. The price plateaued and during the recent sell-off, the price broke down below the pivotal support levels. However, the October trade was pretty bullish as a strong bounce from the lower support at $0.33 ignited a rally beyond $0.43. Presently, the price appears to be under a huge bearish influence that may be eased very soon.
Presently, the ADA price is trading close to the last point of defense which is around $0.385 and a pullback fueled by the FOMC may compel the price to test these levels. Meanwhile, a significant rebound may be triggered that could rise the price higher toward the first target initially and head toward the pivotal resistance in the next couple of days. Hence during the November trade, cardano price may head firmly towards the 2nd target close to $0.6 if the bulls continue to dominate the rally.
BinanceCoin(BNB)
BinanceCoin has been largely trading under acute strength despite the bears continuing to imply significant pressure. Therefore, the recent rejection from the crucial resistance may certainly not prevail for a longer time. As the selling volume recorded is pretty lower than that of the buying, the bulls are expected to reclaim their positions very soon.
The BNB price in a broader outlook appears to be pretty bullish as it maintains its trend within a bullish ascending triangle. While the recent rejection from the levels is around $332.4 for the 3rd consecutive time may have weakened the resistance. Therefore, the following retest may eventually break the levels and rise high to hit $350 in the next couple of days.
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Altcoins To Pump Hard in November! While Bitcoin (BTC) Price Expected to Trade Sideways
The crypto market is waiting for an altcoin season bull run, just like leading digital assets, including Bitcoin, Ethereum etc. This year has brought the worst for altcoins, as the most dominant ones are trading at the bottom of the price chart.
However, a slight upward bounce back is possible if the crypto market flows with positive sentiments. According to an analysis, altcoins may pump hard in November and touch extreme highs in the price chart.
Altcoin Gang To Dominate Moonvember!
October has been the most excellent month for the entire crypto space as it pushed the crypto market from the mud of its prolonged bearish trend.
Leading assets of the market have shown a promising upward jump while altcoins remained in a consolidated zone and waiting for an initial pump.
A prominent crypto analyst, Mac, predicts that altcoins may start their domination in November as the upward rally is now being led by Dogecoin, while Bitcoin may trade in a sideways range.
TORN Price Analysis:
TORN is currently trading at $6.13 with an uptrend of 0.7%. TORN may witness a short-term pump in November, as indicated by the analyst. According to Mac, TORN already made an upward move to $9 due to liquidity, and this price level is not occurring again anytime soon in the short term as TORN may register new lows. However, it may provide excellent buying opportunities if a pump happens in the price chart.
Our technical analysis reveals that TORN may witness a short-term pump soon as the RSI-14 trades in a bullish zone at 48-level. To register an initial bullish rally, TORN needs to break its EMA-50-line, trending at $7.23. Conversely, the bullish analysis may fail if TORN drops below the Bollinger band’s lower limit at $4.77.
ChainLink Price Analysis:
ChainLink has already been making a significant gain in the last 24 hours as it registers an uptrend of 6% with a current value of $8.03. Mac mentioned that ChainLink was trading in a range-bound area near the weekly 7 SMMA line. LINK price may spike if it crosses its daily 200-day MA line, which is at $9.1.
Looking at the daily price chart, ChainLink rose over 22% in the last three days and continues to trade higher. The RSI-14 trades at 63-level, hinting at an immediate bullish momentum which may continue further. However, it may face a rejection above $9 and make a minor downward retracement near its fundamental support level at $7.3.
Algorand Price Analysis:
Mac analyzed that Algorand may also continue the same price movement as ChainLink as it made multiple lows with a long-consolidated range near the weekly 7 SMMA line. To initiate a short-term pump in the price chart, ALGO needs to break its daily 200-day MA line at $0.45.
Algorand trades at $0.35 with an uptrend of 1.45% in the last 24 hours. Our technical analysis states that a bullish momentum may soon occur if Algorand breaks its initial resistance level at $0.41 and maintains its price above it. However, a downfall may initiate if ALGO drops below its support level at $0.28.
RUNE Price Analysis:
Mac noted that RUNE might reach the weekly 7 SMMA line level, which the majority of altcoins may attain soon. According to him, the wider the gap between the current price level and the weekly 7 SMMA line, the better and more stable the pump in the price chart. He further said that RUNE needs to continue its consolidated range without hitting its lows, resulting in a better upward move further.
RUNE is trading at $1.56, with a rise of 0.66% from yesterday’s price. Looking at the daily price chart, RUNE needs to break its price level at $2.9 to initiate a smooth bull run. The RSI indicator is also supporting the current price movement of RUNE as it trades at 52-level. However, a price drop is expected if RUNE changes its mood and heads towards its support level at $1.2.
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Altcoins to Plunge Hard! Will the Crypto Winter Freeze the Holders for Long This Halloween?
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Popular altcoins which had registered a decent price movement, a few days before, now appear to have been influenced by strong waves of this crypto winter
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The investors do not appear to be keen on jumping in as the market remains largely consolidated without making an effort to breach these levels
The cryptospace had geared up significantly a few days ago, but the assets, primarily altcoins, have remained heavily consolidated in the last few days. Meanwhile, the Bitcoin price maintained a stagnant trend due to the fact that altcoins are unable to decide the next course of action. A popular analyst, Michael van de Poppe, pens down the possible price movements of some altcoins in a coming couple of weeks.
Quant (ONT)
- Quant maintained a notable upswing since the beginning of September, but the bears appear to have strengthened in the past couple of days that dragged the price lower
- The analyst believes the price may drop towards the lower support at $157.3 initially and try to attempt a rebound
- Meanwhile, if the asset fails to sustain at these levels, then a significant plunge may drag the QNT price lower to $142.7 levels
Chainlink(LINK)
- Chainlink price is trading within a pre-determined price zone for a pretty long time and is expected to kick off a significant upswing very soon
- After rebounding from the bottom the LINK price has surpassed the Stop-loss zone and may soon range high to reach the targets
- However, to do so, the LINK price is required to surpass the crucial price zones at $8 beyond which a notable upswing may rise the price beyond $10
Reserve Rights(RSR)
- The RSR price had rebounded from the lower support zone and laid down a firm upswing towards the interim highs
- Woefully, the bears dragged the price lower but the token managed to sustain above the crucial support zone and ignited a strong rebound
- The validation of the upswing could be when the price surpasses $0.00713 which may further induce a new impulse within the RSR price
Officials Chase Hard to Nab Do-Kwon! While the Founder Aims to Build Terra Ecosystem Again!
The co-founder of Terraform Labs, Do-Kwon is rumored to have fled to Dubai from Singapore a month ago. The South Korean authorities also have not completely rejected the claim and said the report was ‘not false’.
Do-Kwon’s Terraform Labs was shut down after the huge crack-down in May, post to which the South Korean authorities have been chasing him. However, the police soon issued an Interpol notice against the founder as he failed to respond to numerous warrants. However, in an interview with Laura Shin, host of Unchain podcast, Do-Kwon countered all the claims made against him.
In the interview, Do-know answered all the questions about his current whereabouts, the fall of the ecosystem, compensation to the holders, and much more.
Do-Kwon believed that Terra was a ‘massive market failure’ but definitely not a scam or fraud and he still wants to build. When asked about the red notice, he replied by saying that he has made a request to check on the status of it which is still pending. Further replying on not answering the warrant, he said that he has not received any copy of it, but rather accumulated information through the media.
However, in the end, Do-Kwon accepts being very aggressive on Twitter during times of crisis and also apologized for the same. He believes that it may take a few years to stabilize everything that happened and hence still would be happy to contribute to the crypto space.
Meanwhile, Do-Kwon did not reveal his current location due to security measures as a group of UST holders are trying to track down him. The holders have reportedly formed a group called UST Restitution Group with nearly 4400 investors out of which some have landed in Dubai to find him.
Collectively, people are chasing Do-Kwon along with the authorities, but at the same time, he continues to hide, by not disclosing the location.
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Aptos Foundation Airdrop Failed Miserably, APT Price Plunge Hard
The post Aptos Foundation Airdrop Failed Miserably, APT Price Plunge Hard appeared first on Coinpedia Fintech News
On October 19th, Aptos Foundation announced an APT airdrop for eligible end users. It is reported that in total, 20,076,150 $APT will be airdropped to 110,235 participants.
As the platform released an airdrop without a strict anti-Sybil attack, users received a huge number of APT tokens. APT saw extreme selling pressure, which caused the token to flash drop from $15 to $13. Large sell orders started a chain of active sells that gradually pushed the token’s price down to $7 at the time of publication.
Polygon (MATIC) and Avalanche (AVAX) Falling Hard; Expert Suggests Flasko (FLSK) for 2023 Investment
This year, the cryptocurrency market has faced several pitfalls and coin declines. While many investors hope to jump on the next gold for their portfolios, many coins aren’t looking as promising as their presales and launch prices. Such cryptocurrencies like Polygon (MATIC) and Avalanche (AVAX) have fallen hard during this bearing season, costing investors wallets to fumble.
Despite the challenges pervading the market and several coin capitalizations, Flasko seems to be showing promise for investors. This new coin which has already gotten its early investors a 100% gain, is poised to be an alternative-investment platform granting users an opportunity to invest in vintage wines, whiskeys, and champagnes worth over a trillion dollars.
Polygon (MATIC); continues to decline… investors seek new options
The Polygon (MATIC) coin, a layer 2 Ethereum sidechain, became a part of many investors’ portfolios, being that it served as a means to improve smart contracts’ security, scalability, and privacy. This ERC20 token allows Ethereum (ETH) users to benefit from having cheaper gas costs and quick transactions. However, even with a merger with Ethereum (ETH), this coin continues to decline as fast as it rose in 2021.
As of today, Polygon (MATIC) price is at $0.8192, which is about 71.95% less than its all-time high price of $2.92. According to experts, this coin is yet to see its devastating bearish price in the market. As Q1 of 2023 approaches, it is expected to witness a harder fall for many MATIC investors.
Avalanche (AVAX); investors worst nightmare happening
Falling off the top 10 cryptocurrencies on the market by capitalization, Avalanche (AVAX) has seen an extremely terrible run for the year 2022. A significant percentage of the loss for AVAX investors could be seen in April and May of 2022, having lost more than 80% from its all-time high price of $146.22 in 2021.
One could say the lifespan of this coin was pretty short-lived and may not see a new high peak in the coming months, making it a risky investment. However, there are whispers that buying now at $17.305 could be good for the next bullish market expected to hit $32-$40. While these are simple speculations, other coins like Flasko pose to offer high gains by investing early for the market season of 2023.
Flasko (FLSK); expected to be 2023 top investment coin
Flasko will be a unique and innovative new alternative investment platform, allowing users to invest and trade fractionalized NFTs representing real luxury investments in bottles and casks backed by expensive whiskeys, wines and champagne.
From the looks of things, the coin, currently selling at just $0.05, may eventually become a blue-chip crypto. With certain assurances like liquidity getting locked for 33 years and Flasko passing its audit with Solid Proof, the next set of crypto millionaires will be made from the coin by 2023. You should check out Flasko and jump on the next big investment train for the coming year.
Website: https://flasko.io
Presale: https://presale.flasko.io
Telegram: https://t.me/flaskoio
Twitter: https://twitter.com/flasko_io
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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LINK, MATIC, AAVE Prices Set to Explode While ADA, EOS, TRX Prices May Plunge Hard Soon!
The crypto markets appear to have to withstand significant bearish action in recent times as Bitcoin prices continue to trade beyond $20,000. On the other hand, Ethereum prices also continue to sustain above $1300 due to the fact that the DeFi and NFT spaces are also manifesting acute strength. Amidst the coiling market sentiments, popular altcoins like Cardano, EOS & Tron are expected to drop hard in the coming days.
As per the data from Santiment, an on-chain analytical platform, ADA, EOS & TRX are the popular 3 assets that may foresee a reduction in the number of traders’ participation. Mainly due to the extensive consolidation within a reduced and narrow range.
Cardano’s price has been trading below $0.6 for more than 4 months now, while EOS price failed to sustain above the gained levels and quickly dropped below the neckline of the double top pattern. While TRX’s price dropped by nearly 17% to 18% in the past 2 months, that may have distanced investors from these altcoins.
On the other hand, altcoins like LINK, MATIC & AAVE are at the foothills of a massive explosion as they are flashing a short-time top signal. However, the upswing continues to depend on the stability of Bitcoin prices and hence requires the prices to sustain above $20,000 until the day’s close.
While BTC prices have sliced through the crucial trend line and are rising towards the north, they are failing to hold above the gained levels. The bears are believed to drag the price lower, below $20,000, which may further drop the bullish momentum mounted within the altcoins. Hence, the upcoming couple of days could be pretty important and may determine the next course of action.
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Terra (LUNA) Rises Above the Barriers, TerraClassic(LUNC) Price Struggles Hard
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Terra (LUNA) price spike high in the past few hours indicating the resurgence of the bullish trend
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While Terra Classic(LUNC) price continues to trade under a notable bearish influence that has restricted the price below $0.00031
The crypto markets have turned greener recently as the prices of the popular cryptos appear to have rebounded well. While the rebound is yet to be validated, Terra’s (LUNA) price rallies, gaining nearly 12% in the past few hours. On the contrary, the LUNC price is strongly heading toward lower support.
Presently, both sister tokens are manifesting a diverse trend as they continue to trade in contrasting patterns.
Terra(LUNA) Price Analysis
- Terra’s price spiked notably during the early trading hours that uplifted the price from $2.4 to $2.7
- Woefully, the asset is currently facing a minor pullback which has formed a bullish flag, indicating a notable upswing soon
- With a breakout from the pattern, the LUNA price is expected to rise above $2.9 while the crucial resistance to be cleared resides at $3
- The technicals remain bullish and hence a notable upswing may be expected until the end of the day’s trade
TerraClassic (LUNC) Price Analysis
- TerraClassic (LUNC) price has been trading within a symmetrical triangle ever since the price faced rejection at $0.00037
- The price traded within a descending trend forming constant lower highs & lows and approaching the apex of the consolidation
- Presently, the bulls do not appear well in position and, hence, the LUNC price may remain consolidated within the triangle for another couple of days
- With a breakout, the prices may eventually rise high enough to test the interim resistance at $0.0003 and enter the crucial resistance zone at between $0.000342 & $0.000346 aiming to slice through them at the earliest.
Cardano to Plunge Hard at the Start of October! Analyst Maps Entry and Exit Levels For ADA Price
The Vasil Hard Fork seems to bring no change in the price action for Cardano (ADA) as Cardano is continuously facing rejection at $0.5. The price of Cardano has been trading below its resistance level throughout this month. However, some analysts mark this as a good entry point for a tremendous return on your investment.
Ultimate Buy Area For Cardano
The Vasil Hard Fork has brought some confusion to investors about Cardano’s future price movements. However, prominent crypto strategist and analyst, Michaël van de Poppe shared his thoughts about making an entry point in ADA’s price chart.
According to his analysis, a price range between $0.30 to $0.375 may turn out to be an excellent buying opportunity for investors. Investors should wait for a 14% to 31% drop from ADA’s current price to start buying the dip. Furthermore, Poppe also highlighted that investors are now in accumulation mode.
Van de Poppe stated, “This one is looking like we’re accumulating. The ultimate area to buy from is the region at $0.30-0.375.” The analyst also mentioned that a pattern, in the long run, could lure investors into accumulating more of the asset. He advised users to look for a breakout by researching a previous downtrend that formed in June, and a breakout in the downside could assure investors to make a long position.
Cardano To Start Bull Run
Cardano has failed to show any promising price movements; however, LunarCrush data shows a significant increase in social media mentions due to the Vasil fork. Last week, Santiment also pointed out an increase in social interest for ADA, Matic, XRP, ETH, and SHIB, while other assets, including Bitcoin, saw a decline. According to CoinMarketCap, Cardano is currently trading near $0.44, a drop of nearly 3% from yesterday.
The sellers of the Cardano network are now getting stabilized, and Cardano may form a fundamental support level at $0.42. Cardano can touch $0.36 by the beginning of October if the support level breaks. On the upper side, Cardano can soon break the resistance level of $0.5, and it can make a smooth bull run to $1 following positive market sentiments.
The leading RSI is also above the 47 levels, hinting at a bullish momentum in the price graph. However, investors are advised to conduct a proper analysis of ADA before investing as ADA is not in a good mood now, and its price can fall anytime.
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Bitcoin Held in a Crucial Area, Will BTC Price Break Out the Range or Drop Below Hard This Weekend?
Bitcoin price continues to accumulate gains of around the pivotal zones at $19,000 aiming to prevent a fine pullback below the yearly lows. The price is constantly retesting the $18,500 support levels following a rejection from the major bearish trendline while the 50-day & 100-day MA levels also stand refused.
If the asset rebounds from the current zone, then the above-mentioned pivotal levels may soon turn into pivotal resistance levels below $24,000. Therefore, if the BTC price is required to break above all of the pivotal levels, intending to reverse the ongoing bearish trend. Conversely, if the price fails to sustain above $18,000 and breaks down, then the market participants may witness a massive crash to $15,000.
Presently, the BTC price is trading within a very narrow range and has reached a decisive phase where-in the asset may make it or break it. The price is hovering around $18,500 and appears to be poised to undergo a break out of this range. With a breakout, the price may test the next target at around $19,500 in the coming week. However, to rise beyond these levels the BTC price needs to sustain above $18,500 over the weekend.
On the other hand, the final phase of the bear market may just have begun as the long-term investors may soon be compelled for redistribution. The Bitcoin long-term holder SOPR’s 30-day exponential moving average indicates that the holders are being capitulated over an extended period, mirroring the previous trend.
Therefore, after a notable consolidation, the price may tend to go parabolic as it happened in the previous times. However, it may certainly take several months of volatility which may be followed by multiple shakeouts. Eventually, the Bitcoin(BTC) price is expected to rise above the bearish trend in the next couple of months, but a bearish close for 2022 could be highly predictable.
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Ethereum Struggles Hard to Sustain at $1300, What in-Store for the ETH Price?
The post Ethereum Struggles Hard to Sustain at $1300, What in-Store for the ETH Price? appeared first on Coinpedia Fintech News
The Ethereum Merger turned out to be one of the biggest ‘Sell the news’ events as the ETH price suffered drastically immediately after the transition. If the raising market sentiments ahead of the Vasil Hard Fork mirrors the previous trend, then the second-largest crypto appears to be in extreme danger of plunging below $1000 soon.
Along with ETH/USDT, ETH has also dropped heavily against BTC which collectively points out the shift of focus of the investors of-let.
ETH/USDT Price Analysis
- The ETH/USDT price is closely following a similar pattern. After dropping from a symmetric triangle, the price is again traded within a newly formed symmetric triangle and also experienced a breakdown
- The trading volume has raised but the majority is shared by the sellers and hence the prices are expected to drop hard until the end of September.
- If continuing with the descending trend, the ETH price may reach the last point of defense at $1000 very soon
- However, the probabilities of the price dropping below these levels are high as the price may record the lows for 2022 at around $879
ETH/BTC Price Analysis
- The pair dropped by more than 25% after topping out at 0.085 BTC which also coincided with the crucial resistance levels.
- After the rejection, a couple of days before the ETH/BTC is heading firmly towards the first support levels at 0.06BTC
- Further, the ETH/BTC price could drop hard towards the lower support levels at 0.055BTC
- While the trade set-up for the asset appears to be completely bearish, a 10% to15% decline may be well in position ahead.
Uncharted Altcoins Ready to Explode Soon After the Cardano’s Vasil Hard Fork Upgrade!
With the recent hike in the FED rates, the crypto markets have been impacted slightly as the DXY index witnessed a slight drop but continues to hover within the crucial zones. With this, the Bitcoin price underwent a notable drop below $19,000. But the raising market sentiments around the upcoming Cardano’s Vasil Hard Fork could have uplifted the broader markets to some extent.
In such a scenario some of the Cardano-based altcoins are gearing up to rise high immediately after the Vasil Hard Fork.
Ardana (DANA)
Ardana is a decentralized stablecoin hub for the Cardano network which offers an on-chain asset-backed stablecoin & a decentralized stable-asset DEX. it is considered the best-priced solution for stablecoin-to-stablecoin trading as the platform is powering Cardano & building multi-chain bridges.
The native token of Ardana DANA is trading at $0.1834 with a minor drop of 2.24% compared to the previous trading day.
Milkomeda
It is a side protocol in the protocol that empowers several blockchains including Cardano to interconnect & create a path for long-term scaling. It enables the non-EVM cryptos to achieve mass adoption by empowering the EVM-based sidechains. The project is expected to extend its services to other blockchains including Algorand, Terra & Solana.
However, the native token of the platform is yet to be released which is expected to uplift the ecosystem to new highs.
MELD(MELD)
MELD is a non-custodial protocol Defi protocol used for lending and borrowing. One can borrow fiat against crypto and avail yield on the crypto collateral. The native token is used for the governance of the protocol. MELD aims to reduce 99% of the fees compared to that of the Ethereum-based solutions by capitalizing on Cardano’s transaction efficiency.
The token MELD is trading presently at $0.01943 with a jump of 4% in the past 24 hours with a circulating supply of 2.23 billion.
Sundae Swap (SUNDAE)
Sundae Swap is a decentralized exchange protocol for the Cardano Network that enables ADA & exchanges to everyone. One can easily swap, stake, lend borrow in a truly decentralized way. The platform holds immense backing from the community and the native token is supported by platform-supported wallets like Daedalus, Yoroi & Adalite Wallets.
The native token SUNDAE is currently trading at $$0.02656 with a drop of 1.68% compared to the previous day.
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Cardano (ADA) Price To Hit $1 With Vasil Hard Fork, Claims Popular Analyst
The crypto market witnessed two major events in 2022- the Ethereum Merge and Cardano’s Vasil Hardfork. On September 15, Ethereum successfully completed its merge which transformed the network from proof-of-work (PoW) to proof-of-stake (PoS). Now, all eyes are on Cardano’s upgrade which is focused on sustainability.
Meanwhile, a well-known crypto analyst and trader is of the opinion that Cardano’s (ADA) price action and the project’s fundamentals have a lot of differences.
In his latest strategy session, analyst Michael van de Poppe informs his 165,000 Youtube followers that with Cardano’s Vasil hard fork, there come huge opportunities. The Vasil hard-fork is expected to be launched on September 22nd which will raise the network’s scalability.
Massive Opportunity With Vasil Hard Fork
He explains that though most of the market participants are expecting to see a downfall after the upgrade, the scenario will be the opposite. As per the analyst, for Cardano, the price level near $0.32 and $0.40 is the area to keep an eye on as the currency shouldn’t lose this range. This is the price area that will act as support in the next trade cycle.
Van de Poppe further claims that there is no proper encouragement for the Vasil hard fork and the hype isn’t that level that will push the currency upwards. Hence, he believes that the upgrade will attract huge opportunities if the hard fork is introduced on a positive note which is expected to be similar to that of the Ethereum merge.
He then asserts that if the upgrade is successful, Cardano’s (ADA) price will see a positive move towards $1.00 after the event.
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Ethereum Price Slashes Hard With the Release of the Fresh CPI Rates! Can The Merger Revive The Rally? – Coinpedia – Fintech & Cryptocurreny News Media
The highly anticipated US CPI rates are out and as expected, the market has collapsed heavily. The Bitcoin price dropped close to $21,600 while the Ethereum price squashed close to $1600. The markets remained highly unstable since the early trading hours as the inflation rates were expected to decrease a little.
Despite the current drop, the ETH price still remains within a bullish pattern, and market participants hope for a rebound at the earliest.
The ETH price recorded a huge bearish candle with the highest ever hourly volume since the beginning of September. While the price continues to hold within the ascending triangle, the possibility of a rebound emerges. The asset is required to hold the $1600 support zone firmly and initiate a flip, or else it faces the possibility of a massive crash.
On a positive note, the market sentiments are increasingly positive toward the upcoming Ethereum Merger. This could lead to raising the ETH price.
It’s important to closely watch the price trends around the day’s close, as a bearish close could scotch the raising sentiments that could have held the ETH price above the crucial support.
Hence, the day’s close will prove to be immensely important for Ethereum & the upcoming Ethereum Merger.
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Cardano’s Vasil Hard Fork is 95% Ready While Only 20K Blocks Left For the Ethereum Merge!
The crypto space is expected to manifest extreme action in the upcoming days, as 2 of the most important events are close to reaching their destination. While Ethereum Merger is scheduled between September 13 & 15, Vasil hard Fork will be accomplished on September 22, 2022. Therefore, the two most awaited events are expected to turn the tables for the entire crypto space which may assist the Q4 to begin with a bullish note.
Will ETH Price Hit $2000 Ahead of the Merger?
It is now only a few blocks left to be mined before the Ethereum platforms undergo a complete transition from Proof-of-Work to Proof-of-Stake. After nearly 8 years of the roadmap, the platform is now very closer to creating history within the crypto space.
The initial transition is the gateway that opens the possibilities for a more scalable & efficient network. The investors appear to be pretty confident of the ETH price rally after the Merger as the volume of loans to ETH has spiked enormously. The total amount of coins borrowed exceeded $1 billion.
While the Merger is to be accomplished this week, the ETH price is also expected to coil up significantly. Currently, the asset is trading at $1755, within a significant bullish trend. Therefore, the price is expected to coil up and break the immediate barrier at $1800 and eventually reach close to $2000 soon.
Cardano’s VASIL Hard Fork Incoming, Why ADA Price Consolidating?
In a recent update, the Cardano platform is fast approaching its destiny that resides within the Vasil Hard Fork, scheduled on September 22, 2022. Presently, more than 94% of the mainnet blocks have been created by the final Vasil node candidate(1.35.3).
On the other hand, the exchanges like Binance, MEXC, BitTrue, Gate.io, BTC Turk, OKX, Whitebit, etc have indicated their readiness for the upcoming event. Additionally, 50% of the top Cardano dApps have the tested status in preproduction, while the others remain in testing. Nearly 1093 projects are building on Cardano, while more than 3000 scripts have been rolled out on Plutus.
Therefore, with the raising market sentiments and development activity, the Cardano (ADA) price is also set to rise high in the coming days.
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Cardano (ADA) Price Set To hit $0.6 Level As Vasil Hard Fork Approaches
A popular crypto analyst and trader claim that Cardano (ADA) is expected to rally after the upcoming Vasil hard fork upgrade is completed.
The analyst, Benjamin Cowen informs his 767,000 followers on YouTube that though Cardano (ADA), a smart contract platform is currently struggling for a bull run, ADA might hit $0.60.
He goes on to say that if Cardano (ADA) manages to push the price between $0.52 and $0.60, that will be a major milestone for ADA. This is because right now the world’s first cryptocurrency, Bitcoin along with other cryptocurrencies is stuck in bear control while the dollar is surging.
After such an extremely bullish prediction towards Cardano, Benjamin claims to be closely observing ADA/ETH price action.
Furthermore, the strategist asserts that if he plans to purchase any altcoin such as ADA, then he should perceive that the purchased altcoin should outperform Bitcoin and Ethereum. He also quotes that if ADA/ETH is below the said range, then he will be more positive that the altcoin will outpace the first two cryptocurrencies.
Moreover, Cowen believes that Ethereum’s upcoming merge which transforms the current proof-of-work (PoW) to proof-of-stake (PoS) will be a positive incident for ADA price action as well.
He says that the ETH merger might push ADA towards $0.60, so it’s important to watch ADA price near $0.50 and $0.60 area which will be a significant resistance range.
At the time of reporting, Cardano is trading at $0.509 after a surge of 3.29% over the last 24hrs.
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Cardano’s Vasil Hard Fork Rolled-Out Will ADA Price Hit $1 Now?
September, despite being bearish is coming out to be the most important month for the entire crypto space. Two of the most powerful crypto asset are preparing for their most awaited network upgrade. After the announcement of the Ethereum Merger, the Cardano community was eagerly waiting for the Vasil Hard Fork’s date.
In the latest update, the IOHK rolled out the date for the Vasil Hard Fork, and since then the ADA price is trading stronger.
As the founder, Charles Hoskinson has earlier hinted on the Hard fork to be in September, now it’s confirmed to be on September 22, a week after the Ethereum Merger.
Will ADA Price Now Rise Above $1?
Ever since the date for the hard fork is rolled out, ADA price is flashing huge bullish signals. After it sliced above the crucial 50-day MA levels, Cardano seems to be poised to surpass $0.5 this weekend.
From the above chart, it is quite evident that the asset was self-assured of ranging towards the north and for that reason, it maintained its trend within an ascending triangle. The price attempted to breach through the triangle but failed. However, the ADA bulls appear to have uplifted the price above the triangle, manifesting a bullish trend ahead.
The ADA price, a year ago in September 2021 also manifested an independent rally to reach the ATH above $3, while the entire crypto space traded sideways. Presently, the asset seems to be preparing for a similar rally and eventually rising price above $1 before the Cardano Vasil Hard Fork.
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Robinhood Lists Cardano (ADA) Ahead Of Vasil Hard Fork
It’s official now! The commission-free investment app Robinhood has now listed Cardano (ADA0 along with a few other cryptocurrencies after a huge demand. ADA holders can now buy and sell their Cardano holdings without any additional commission or fees.
At the moment, Cardano, the eighth largest cryptocurrency by market cap is trading at $0.44 with a pull off by 1.36% over the last 24hrs.
The listing was confirmed through Twitter by Robinhood today as the platform received massive demand to list Cardano (ADA). However, the users have to wait before starting their trade as the service is yet to start.
The Cardano community is now more optimistic on Cardano as a result of the listing of Cardano (ADA) shortly before the long awaited Vasil hard fork. Cardano’s creator, Charles Hoskinson, has previously asserted that the Vasil hard fork will probably take place in September.
Recently, the platform had listed Compound (COMP), Shiba Inu (SHIB), Polygon (MATIC), Solana (SOL), and Chainlink (LINK) and in July Robinhood had also supported Avalanche (AVAX) and Stellar (XLM).
Additionally, along with ADA, the financial service company offered assistance for deposit and withdrawal of MATIC tokens on Polygon blockchain. This service will allow 37,000 dApps on Polygon to operate lending, borrowing and swapping.
The Cardano (ADA) is expected to reach around $0.55 with Vasil hard fork around the corner. The 1.35.3 node’s SPOs are responsible for 85% of mainnet block manufacturing, according to data from PoolTool. For the Vasil hard fork, a target of 75% was set. Exchanges and dApps, however, take time to respond.
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Cardano (ADA) Price to Surge 50% in September With Vasil Hard Fork Upgrade
Cardano’s (ADA) Blockchain is all set for the Vasil Hard Fork to upgrade in September. This is supposed to radically change the network’s protocol regarding transaction fees, speed, and a decentralized App.
According to a popular crypto analyst, Cardano (ADA) may outperform Bitcoin (BTC) in the short term as traders may think of hedging against Ethereum’s (ETH) upcoming merger event.
The Coin Bureau host told his 2.1 million YouTube subscribers that he views ETH competitors as hedges against the Merge if the update doesn’t go as planned.
“One of the ways I’ve personally been hedging myself against something going wrong with Ethereum’s merge is to hold competing smart contract cryptocurrencies as a part of my portfolio, and this includes Cardano’s ADA,” he mentioned.
The Youtuber continued by saying that Cardano seems all geared up to see gains against the top digital asset by market cap.
“ADA seems to be overdue for an appreciation against BTC on the weekly chart. This is because ADA has historically fallen against ETH for around eight weeks before seeing a multi-week rally. As you can see, ADA has been falling against ETH for about eight weeks and is showing signs of a reversal”
The host went on to predict that Cardano (ADA) could see a 50% gain soon.
He added;
“Note that [appreciating against BTC] does not necessarily translate to a higher price for ADA in fiat terms, but ADA’s daily and weekly price action in fiat terms suggest it could see a 50% gain in the coming weeks.
But I must stress that this ultimately depends on whether the crypto market sees a short-term recovery. I should also note that Cardano’s Vasil hard fork will expose the project to the same sorts of issues Ethereum could experience during its upgrade.
This is probably why other Ethereum competitors such as Solana appear to be on the brink of a bigger breakout against both ETH and the USD.”
ADA is floating at $0.4487 at the time of writing, with a trading volume of $424,904,899.
The Cardano (ADA) Upgrade
Currently, Cardano (ADA) is the eighth largest cryptocurrency by market capitalization. Cardano’s Blockchain is all set for the Vasil Hard Fork to upgrade in September.
The Vasil Hard Fork upgrade will supposedly improve the network’s performance and Cardano’s Plutus smart contract programming language, which aims to support the creation of decentralized applications (dApps). About a week ago, Charles Hoskinson from Cardano tweeted about the progress of the Vasil Hard Fork upgrade.
The Cardano Upgrade is expected to bring in a host of changes in terms of transaction fees, scalability of the Decentralised App, and the speed of transactions.
Sharing his views on the same, the Coin Bureau host said that ADA counteracts as a hedge against the Ethereum Merge mainly because Cardano itself is also going to make this Vasil Hard Fork Upgradation in September.
“It would be an admittedly strategic move if Cardano improved its scalability around the time Ethereum transitions to proof-of-stake. This is because it would put Cardano in a perfect position to acquire users and investors if The Merge fails or simply fails to meet the expectations of ETH holders.”