Cardano Reaches Crucial Level At $0.36! Will ADA Price Rebound Or Plunge Further?
Bitcoin’s price movement, often considered a weather vane for the broader cryptocurrency market, has been in a whirlwind of late. Its ongoing turbulence near key levels has sent shockwaves across the crypto ecosystem, creating a domino effect that’s impacting other digital currencies, including Cardano’s ADA. As concerns regarding interest rate hikes and US debt ceiling continue to spike, ADA is facing volatility with no clear indication.
Cardano’s Bearish Backdrop Amid Bullish Data
Marking a noteworthy progression, Cardano has fortified its standing in the decentralized finance (DeFi) arena by rising to the rank of the ninth largest decentralized exchange (DEX) chains worldwide in terms of trading volume. As per the information furnished by DeFiLlama, Cardano’s trading volume in the last 24 hours has crossed the $12 million mark, with an average weekly volume around $50 million.
This accomplishment situates Cardano comfortably above Fantom, positioning Tron as its subsequent rival. Cardano’s growth in the DeFi space is a validation of the network’s powerful and effective architecture that has attracted a plethora of projects, developers, and users.
A significant factor in Cardano’s triumph in the DEX landscape is Minswap. This platform has established a distinct position within Cardano’s ecosystem, contributing substantial DEX volume and playing a pivotal role in catapulting the network into the top 10. Minswap’s user-friendly interface, in conjunction with the security and swiftness of Cardano’s network, provides a smooth trading experience that draws traders worldwide.
Nonetheless, Cardano’s ascension into the top 10 DEX chains isn’t solely credited to traditional DeFi projects. A noteworthy trend fuelling the network’s expansion is the emergence of meme coins on Cardano. These tokens, typically sparked by social media hype and community involvement, have accounted for a significant part of the network’s recent trading volume.
How Cardano Will Perform From $0.36?
Over the last three days, Cardano has been on a downward trajectory, touching the uptrend line on May 21. This is a critical level to monitor as any breach above it would suggest that the bulls are holding their ground. As of writing, ADA price trades at $0.3632, declining over 1.9% in the last 24 hours.
ADA price made a robust bearish reversal near $0.377, signifying a massive panic in the market that pushed sellers to open short positions. If bulls manage to drive the price above the 20-day EMA at $0.3664, it will imply a diminishing selling pressure. The ADA/USDT pair is expected to gather momentum once it surpasses the 200-day EMA at $0.375 on the 4-hour price chart.
Conversely, if the price continues to decline from its current 23.6% Fib level and tumbles near the $0.36 mark and dips further, it would signal the initiation of a more severe correction towards $0.30.
Ripple’s Ongoing Battle Leaves XRP at Fear Zone- Will XRP Price Rebound?
The crypto market is currently watching a dramatic show led by the SEC and Ripple’s ongoing case. Though several altcoins are currently on a declining path recently, Ripple’s XRP has been subjected to much uncertainty. The ongoing legal tussle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs has cast a pall over the XRP coin, pushing it into what some investors term the “fear zone.”
Ripple May Face Consequences
A key ramification of the lawsuit is the considerable constraints imposed on Ripple’s access to its XRP reserves. Historically, Ripple held a large volume of XRP, periodically selling off chunks to finance its operations.
However, the onset of the SEC lawsuit has led to serious restrictions on Ripple’s access to its reserves. The SEC has alleged that Ripple’s sales of XRP from its reserves were essentially a means of fundraising, bypassing conventional avenues such as initial public offerings (IPOs) or venture capital. This situation poses risks to the company’s liquidity and its capacity to maintain operations at pre-lawsuit levels.
Notably, while Ripple has experienced growth in other global regions, the United States remains a pivotal market for any fintech firm. The long-term viability of Ripple significantly depends on its freedom to operate in the US market. The persisting lawsuit and the potential regulatory shifts it may usher in have introduced a level of uncertainty regarding this freedom.
Despite the storm clouds, there are reasons to believe in a potential XRP price rebound. Ripple Labs has been fighting tooth and nail against the SEC allegations and managed to win some minor victories. If Ripple can secure a decisive win or even a favorable settlement, it could provide the impetus for a strong XRP rebound.
What’s Next For XRP Price?
This week commenced on a subdued note with no fresh revelations from the ongoing SEC versus Ripple legal battle to take into account. Despite the absence of court proceedings to evaluate, the buzz surrounding the SEC versus Ripple case has been intensifying.
As of writing, XRP price trades at $0.42, declining over 1% in the last 24 hours. Analyzing the 4-hour price chart, XRP price is under intense bearish pressure after getting rejected at EMA50 resistance near $0.43.
However, there is strong buying pressure from bulls at $0.41, defending the immediate support level. If bulls push the XRP price above $0.43, a smooth upward rally is expected toward the $0.45-$0.46 resistance level.
On the bearish side, XRP can experience a sharp decline if sellers initiate a spike in short positions below $0.41, which will slump the altcoin below its 38.6% Fib level at $0.37.
Bitcoin (BTC) Price: Analyst Predicts Impending Bullish Rebound
Bitcoin (BTC) enthusiasts, rejoice! The premier digital currency is showing promising signs of a bullish resurgence. With a current trading price of $27,315.23 and a notable 2.02% increase over the past 24 hours, Bitcoin is capturing the attention of investors and crypto enthusiasts worldwide.
The Key Catalysts Behind Bitcoin’s Rise
The recent surge in Bitcoin’s daily trading volume is serving as a strong catalyst for its upward trajectory. Market bulls are flexing their muscles, fueling speculation that BTC is on the cusp of a significant rebound. Renowned on-chain analyst @Ali_Charts, known for accurate predictions in the past, has shed light on a positive indicator for Bitcoin. He points to the TD Sequential indicator, which has flashed a buy signal on the daily chart, indicating an imminent bullish surge.
@Ali_Charts believes in the potential accuracy of this indicator, lending further credibility to the notion of an upcoming uptrend. However, the key lies in the support of around $26,360, which will require the support of Bitcoin whales. As these influential players navigate the market, their actions will be closely watched by investors and traders eager to capitalize on Bitcoin’s potential growth.
Is Scaling Solutions paving the way?
While Bitcoin has firmly secured its position as the leading digital currency, challenges related to scalability and transaction congestion have emerged. The recent episode of transaction congestion, resulting in increased gas fees, highlighted the need for robust scaling solutions. As the Ordinal’s inscriptions on the protocol caused temporary disruptions, the role of scaling solutions becomes paramount in maintaining Bitcoin’s stability and addressing future challenges.
However, the excitement lies in witnessing how Bitcoin’s ecosystem evolves to overcome these hurdles. Will innovative scaling solutions come to the forefront, ensuring seamless transactions and enhanced user experiences? For this, you need to eagerly await the unfolding developments.
On the flipside, Bitcoin’s price may fall to lower support levels and cause a broader slowdown in the altcoin market due to prevailing macroeconomic headwinds, leading to negative market sentiment.
While the current market conditions appear favorable, it’s important to remember that the crypto landscape is dynamic and subject to rapid changes. Investors and traders should exercise caution and stay informed about the latest market trends.
The potential for a bullish rebound is certainly enticing, but prudence and diligent monitoring are essential for successful navigation in the crypto realm. Bitcoin’s upward momentum, bolstered by increased trading volume and the TD Sequential indicator’s buy signal, indicates exciting times ahead.
Crypto Market Outlook: Expert Predicts Bitcoin & Major Altcoins To Rebound In 2023 Q3
After more than eight weeks of attempting to rally above $31k, Bitcoin bulls have succumbed to mid-term selling pressure. According to the latest crypto market data, the price of Bitcoin dropped nearly 5 percent, hitting a monthly low of around $26,188 during the early London trading session. Similarly, Ethereum (ETH), the second most valuable digital asset by market capitalization, also experienced a five percent decline, trading at approximately $1,759 at the time of publication.
Crypto Market Cap Falls, Bitcoin Dominance Declines
Consequently, the total crypto market capitalization plummeted by about 3.3 percent, resting at around $1.14 trillion on Friday, May 12. With Bitcoin’s dominance rapidly dropping below 48 percent, as indicated by market data from TradingView, crypto traders are left contemplating whether the long-awaited altcoin season is poised to materialize.
Consider Both View Points: Bitcoin Price Prediction: BTC Price to Hit New All-Time High in 415 Days, Predicts Crypto Analyst – Coinpedia Fintech News
Increasing Volatility Expected as Global Recession Fears Rise
Given the mounting probability of a global recession amid rising inflation, experts anticipate a significant increase in crypto volatility in the forthcoming months. The United States debt ceiling debate has left the Federal Reserve torn between implementing monetary tightening policies to achieve a 2 percent inflation target. Furthermore, traditional banks are grappling with the challenges posed by the Web3 industry and other fintech companies, which have been driving recent bank runs.
Related: Can Crypto Markets Survive A Massive Recession In The USA? – Coinpedia Fintech News
Short Squeeze Looms
Over the past 24 hours, more than 82 percent of long traders in the crypto market have been liquidated, according to reports from Coinglass. Consequently, these traders are likely to shift their focus to short selling, potentially fueling a long squeeze. As a result, the crypto market may experience further decline in the coming days due to increased panic selling.
The Future Is Bullish
Renowned trader and investor @CryptoTony_ on Twitter has expressed optimism about the long-term prospects of the crypto market, suggesting a potential rebound in the third quarter of 2023.
Bitcoin Needs to Touch this Final Support-Here’s Why BTC Price May Rebound Soon
Bitcoin price has recently been the talk of the town as the asset experienced a severe plunge today following Binance’s FUD. The leading digital currency is currently witnessing a downturn in sentiment following an unprecedented surge in transaction fees and a nearly 98% full mempool. However, enthusiasts and investors are eyeing a potential rebound soon, as the digital currency has just reached a crucial support level.
Binance FUD Brings Bearish BTC Market
Market participants attribute the core issue to mass transactions “spamming” the Bitcoin network. However, the situation was exacerbated by the world’s largest cryptocurrency exchange, Binance, which repeatedly suspended BTC withdrawals.
Citing “congestion” as the reason for these interruptions, Binance generated a backlog of withdrawal requests, further intensifying the prevailing apprehensive market sentiment.
Bitcoin quarterly futures are favored by whales and arbitrage desks. These fixed-month contracts usually exhibit a minor premium compared to spot markets, signifying that sellers demand higher compensation for postponing settlement.
Consequently, in a stable market, BTC futures contracts should exhibit a 5-to-10% annualized premium— a scenario referred to as contango, a phenomenon that is not exclusive to the crypto market.
Over the past two weeks, Bitcoin traders have displayed remarkable caution. During the recent rally that peaked at $29,850 on May 6, there was no significant increase in demand for leveraged long positions. Furthermore, the following 6.8% correction down to $27,800 resulted in the BTC futures premium reaching its lowest point in two months, standing at 1.5%.
As Bitcoin’s futures premium has touched the bottom level, it is anticipated that the asset will soon experience a surge in long options in order to become profitable from the price dip.
BTC’s Rebound From $27.5K
Over the last two weeks, the price of Bitcoin has fluctuated within a limited 8.5% range, oscillating between $27,250 and $29,550. This has led to a decrease in the 40-day volatility measurement, which now falls under 40%. BTC is currently trading at $27.9K, declining over 3.5% from yesterday’s rate.
Bitcoin price has recently lost its critical support level at $28K, and bears are trying to flip this level into a resistance zone. However, bulls made a quick comeback as the BTC price recovered after taking support at $27.5K. On the daily price chart, Bitcoin is trading near the EMA-50 trend line, hinting that bulls are still in the game to push the price above $28K.
The RSI trend line has enough room to drop, which shows potential buying pressure in the price chart. Despite the bearish market sentiment, SMA-14 shows no sign of dropping below as it consolidates near the level of 52.
Bitcoin price is predicted to test its final support at $27,100, from which bulls might get confidence in opening long positions. A breakout above $28.3K will push the asset above $29K again.
Polygon (MATIC) Price Prediction- Will MATIC Rebound to $1.5?
Polygon (MATIC) has been making waves in the cryptocurrency market, with investors and enthusiasts closely watching its performance. Built on the Ethereum blockchain, Polygon has a market cap of $9.27 billion. Its current price is $0.982200, a decrease of $0.023580 (2.4%) in the past 24 hours. This article delves into an extensive technical analysis of MATIC’s current price indicators, providing a thorough price prediction for the coming days. By understanding these market trends, you can make informed decisions about your investments in the Polygon ecosystem.
Polygon’s Covo Finance Hits $50M in Volume, Expands DeFi Opportunities
The Polygon DeFi and NFT ecosystem is experiencing significant growth, with innovative projects like Covo Finance contributing to its expansion which recently crossed 50M$ in trading volume. Covo Finance is a fully decentralized perpetual exchange, enabling users to trade significant cryptocurrencies, Forex, and Metals with up to 100x leverage directly from their wallets. As one of the fastest-growing spot and perpetual DEXs on the Polygon network, Covo offers low trading fees and zero price-impact trades. Its powerful and user-friendly trading protocol allows users to trade crypto and forex perpetual using USDC as collateral and offers various participation opportunities based on individual risk tolerance. Participants can trade, pool funds for real yield in USDC and MATIC, or stake COVO, the protocol’s native token, to receive up to 50% of all fees and staking rewards in COVO.
Token Summary and Technical Analysis for MATIC
Currently, 29% of holders are making a profit at the current price, 7% are breaking even, and 65% are experiencing a loss. Large holders account for 85% of the concentration, and there is a 0.7 price correlation with Bitcoin. The holders’ composition by time held consists of 51% holding for one year or more, 44% holding for one to twelve months, and 5% holding for less than one month, while Transactions greater than $100K account for $310.4 million within the past seven days. In the same period, total exchange inflows reached $62.34 million, while total exchange outflows amounted to $44.03 million.
Examining Polygon’s MATIC’s current price indicators reveals a combination of neutral and buy signals. The Relative Strength Index (RSI) is 36.3797, indicating a neutral market sentiment. The price may trade sideways in the short term. Meanwhile, the Stochastic RSI Fast suggests a value of 4.7163, pointing to an oversold condition implying that the price may soon rebound, offering a potential buying opportunity for investors.
The Commodity Channel Index (CCI) registers a value of -180.7557, suggesting that the Polygon (MATIC) price is significantly below its average. However, the Momentum indicator reveals a value of -0.1229, indicating negative momentum and suggesting a potential sell signal for investors which presents a possible buying opportunity for investors looking to enter the market.
Price Prediction: Can Polygon (MATIC) Rebound to $1.5?
Given the mixed signals provided by the technical indicators, it is essential to consider additional factors when predicting MATIC’s future price. One of these factors is the overall market sentiment and the performance of major cryptocurrencies like Bitcoin and Ethereum, which strongly influence the performance of altcoins such as Polygon (MATIC). Currently, MATIC has a 0.7 price correlation with Bitcoin, implying that the movement of Bitcoin could significantly impact MATIC’s price.
Another factor to consider is the adoption rate and utility of the Polygon network as a layer two scaling solution for Ethereum; Polygon (MATIC) aims to provide faster and cheaper transactions for its users. The more projects and users that adopt Polygon, the higher the demand for MATIC tokens, which can ultimately drive the price up.
Considering these factors, MATIC could rebound to $1.5 in the upcoming weeks, provided the overall market sentiment remains positive and continued growth in adopting the Polygon network. However, it is crucial to note that the cryptocurrency market is highly volatile, and sudden changes in market conditions can significantly impact price predictions.
The current technical analysis for MATIC reveals a mix of neutral and buy signals, with some indicators suggesting a potential rebound shortly. While MATIC might rebound to $1.5, monitoring the overall market sentiment and the performance of major cryptocurrencies like Bitcoin and Ethereum, which can significantly influence the performance of altcoins such as Polygon, is crucial. Additionally, keeping an eye on the adoption rate and utility of the Polygon (MATIC) network will provide further insights into the potential price movement of MATIC.
Bitcoin’s Correction Has Begun; When Can We Expect a Bullish Rebound?
Bitcoin’s price continues to slide down as it loses crucial support at around $28,500 as the bears appear to have regained control. Moreover, the descending trend may continue as it appears to be heading toward the following support levels. Besides, the possibility of a bullish breakout also appears to be quite low as the bulls remain calm.
So, when can we expect a bullish rebound?
Presently, Bitcoin’s price is sitting on a trend line support at around $28,000. While the bulls are trying to hold the price above this level, the bears are poised to drag the price lower. Therefore, in such a scenario, the price may even break down from these levels, and the chances of testing $25,550 to $26,000 emerge.
The BTC price is following a parabolic curve and is expected to touch the curve before triggering a rebound. The price, after bouncing off the curve, had previously surged by more than 40% in a week. Therefore, a similar price action may be expected, but before that, the BTC price may face another 10% drop.
The BTC price is believed to plunge heavily to test the levels on the parabolic curve in the next few days. Further, a fine rebound may light up as the price touches the parabolic curve, which may begin a fine upswing soon. Additionally, the price is following the upper trend line as core resistance levels, and hence a breakout from these levels is mandatory. Following the pattern, the Bitcoin (BTC) price may soon reach beyond $35,000 in the next few weeks.
Bitcoin Heads Toward Its Crucial Price Of $29K! Will BTC Price Rebound Or Plunge Further?
The crypto market has witnessed rollercoaster-like price fluctuations today, triggering a massive selloff sentiment among investors. Bitcoin, the most prominent digital currency, has seen its price going through a massive bearish rally, with its latest turn being a steep decline to the pivotal price of $29,000. After several days of enjoying a bullish rally above the $30K threshold, the sudden crash has left investors and market analysts questioning whether Bitcoin will recover or continue its descent.
Crypto Market Liquidation Reaches $250 Million
The crypto market is currently grappling with a bearish phase, as the global market cap witnessed a 3.57% reversal in growth, now standing at $1.22 trillion. This downturn comes as no surprise, as the market has been experiencing consistent liquidations for the last few hours.
According to data from CoinGlass, the liquidations have now surpassed $249 million within the past 24 hours, signaling increased uncertainty and volatility in the crypto market. Bitcoin’s price has experienced a 3% decline in the past 24 hours, plunging to $29,100 and slipping below the psychologically significant $30,000 threshold. This level harkens back to last June when the cryptocurrency’s value hovered around the same mark before the selloff intensified, ushering in a merciless bear market.
The liquidation in the crypto market came after the Bank of England and the European Central Bank weighed the possibility of further interest rate increases to rein in inflation and achieve target rates. Market participants have adopted a cautious stance as US Fed officials James Bullard and Raphael Bostic advocate for a higher terminal rate of 5.50% to 5.75% and an additional 25 bps rate hike in May.
Can BTC Price Hold This Level?
Bitcoin witnessed a sharp decline recently, following a robust rebound above the crucial $30,000 threshold just the day before. Bulls found themselves struggling to maintain higher levels as market volatility reared its head once more. Consequently, Bitcoin’s value plummeted to its lowest point since April 10, highlighting the latest obstacle in the cryptocurrency’s ongoing battle to secure a foothold in the upward trajectory.
As of writing, Bitcoin price trades at $29.3K, declining over 3.5% in the last 24 hours. As the BTC price approaches the EMA-20 trend line at $29K, it creates enough confidence among sellers to trigger more short positions in the price chart. Analyzing the daily price chart, Bitcoin is predicted to decline more and test its support near $29K. If BTC falls below $29K, a severe plunge may emerge, forcing BTC price to trade near $27.5K.
According to a well-known crypto analyst, Van De Poppe, Bitcoin’s short positions may get liquidated if it maintains $29.3K. The analyst further relieves investors as a breakout above $29.7K will again bring the BTC price to the $30K range.
Meme Coins Big Eyes and Shiba Inu Rebound, But Avorak AI Could 100x Your Portfolio In 2023
Meme coins have been all the rage in the crypto world in recent months. With the likes of Dogecoin and Big Eyes making headlines, many investors are now paying attention to these “joke” coins in hopes of striking it rich. But are meme coins really worth the investment?
On the one hand, meme coins have a certain appeal to them. They often have catchy names, amusing logos, and a strong community of passionate supporters about the coin’s success. This can create a sense of hype around the project, which can drive the price.
Big Eyes and Shiba Inu News
Two of the most popular meme coins right now are Big Eyes and Shiba Inu. Big Eyes, a pastel-coloured cat, is popular for its cuteness. The coin ever since has extended its ongoing presale.
On the other hand, Shiba Inu has been around for a bit longer. The coin was created as a joke based on the famous dog breed from japan and has since gained a significant following.
In fact, it is the 2nd largest meme coin after Dogecoin and one of the biggest cryptocurrencies on the market. However, Shiba Inu is going beyond its meme coin status and developing its own ecosystem called Shibarium, featuring its own swap and utility token BONE.
Avorak AI – Presale with 100X Potential
While meme coins may be getting all the attention right now, other crypto space projects are worth considering. One of these is Avorak AI, a decentralized artificial intelligence platform that rides the new wave of trending AI cryptocurrencies.
Avorak AI is currently in its ICO phase, with a very low total supply of 40 million AVRK tokens. Furthermore, the team behind the project has a strong background in AI engineering, machine learning, and blockchain.
One of the most exciting things about Avorak AI is its growth potential. The team has set a goal of reaching a market cap of $1 billion within the next two years. If they are successful, this could mean a massive return for early investors.
According to the project’s founders, the ICO and development of the powerful AI-based chatbots, image creation tools, and trading bots is on time and will be available exclusively to early investors soon.
Final Thoughts
Meme coins like Big Eyes and Shiba Inu may be getting all the attention right now, but investors looking elsewhere, especially with ICOs that seem to go on forever. Besides that, meme coins can be highly volatile, and their value is often based on hype and speculation.
For investors who are looking for a more stable and reliable investment, projects like Avorak AI may be worth considering.
Learn more here:
Website: https://avorak.ai
Whitepaper: https://avorak-labs-and-technology.gitbook.io/avorak-a.i-technical-whitepaper/
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XRP Price Breaking Down-Here’s When it May Trigger a Rebound and Surge Beyond $0.38
The crypto markets are in decline, with the Bitcoin price recently falling below $22,000. With the drop of the star crypto, the majority of the altcoins including XRP also slashed heavily. Despite a minor plunge, the price continues to remain under the huge influence of bulls and is believed to spark a fine upswing very soon. However, before a hefty upswing, the prices were believed to undergo a subsequent pullback.
Therefore, the XRP price dropped back to the lower support at $0.3725, trying to halt the ongoing bearish trend. The price, which is closely fluttering around $0.3745, faces rejection at the levels around $0.384. Following this, the price dropped toward the lower support at $0.3610 which coincided with the trend support line.
The XRP price during the last few days of February rose finely to mark the interim highs above $0.4, but woefully, a bearish trigger was really triggered that dragged it towards the lower support at around $0.361.
Since then the price is attempting to rise back beyond $0.38 but has failed every time. Therefore, now that the bulls appear to hold significant strength, the price is believed to plunge and test the lower support again before undergoing a bullish breakout.
Presently, the XRP price is trading at $0.3759, with a jump of 1.26% in the past 24 hours, while the market capitalization continues to hover around $19.17 billion. The trading volume records a massive spike of more than 40%, surging beyond $1.5 billion, with 50% of its supply circulating out of the total supply.
Polygon (MATIC) Price Crashes This Week, When Will it Rebound? (Polygon Price Analysis)
Polygon’s native token, Matic, has recently been among the most talked-about cryptocurrencies. The blockchain project aims to provide a scalable, fast, and secure platform for decentralized applications (dApps) and address the current limitations faced by Ethereum. Polygon’s unique address count has surpassed 350K, with a peak address count recently reaching around 750K.
In this article, we will be analyzing the current price of Matic and making a price prediction based on technical analysis and market trends. The critical support level for Matic is currently at $1.12, which means that if the price of Matic fell below $1.12, it would likely encounter intense buying pressure, as many traders and investors view this as a good buying opportunity.
Polygon DeFi Ecosystem Tokens seeing Exponential Growth
The Polygon DeFi ecosystem has been making waves in the cryptocurrency world, with its total value locked (TVL) hitting $1.44 billion. Projects building on Polygon, such as Covo Finance, are seeing exponential growth. COVO Finance aims to provide users with an easy and accessible trading experience directly from their cryptocurrency wallets. The platform enables users to trade popular cryptocurrencies, such as MATIC, BTC, and ETH, with low swap fees and zero-price impact trades. Users can crypto trade with up to 50x leverage, similar to centralized exchanges. However, users retain custody of their assets, unlike centralized exchanges.
COVO Token recorded a Surge of 70% in the Past Month
Staking COVO Tokens provides several benefits, including rewards such as 30% of all generated protocol fees and esCOVO tokens(Can be staked to be converted to COVO Tokens). MATIC rewards are collected from market making, swap fees, and leverage trading. Additionally, Covo Finance’s integration with the Polygon network could further promote the adoption of the network, which could also lead to a potential increase in the price of Matic. The growth of the DeFi ecosystem on the Polygon network is likely to impact the price of Matic in the long run positively.
MATIC Key Support and Resistance Levels
The price of Matic is stable at around $1.15 after the recent crash. Polygon (MATIC) is currently ranked #9 on CoinMarketCap, with a live market cap of USD 10B. It is worth noting that the key resistance levels for Matic are presently at $1.3 and $1.55. If the price of Matic rose above these levels, it could indicate a bullish trend and potentially attract more buyers to the market, potentially leading to a price increase.
Polygon (MATIC) Price Prediction
Based on the current market conditions and technical analysis, Polygon (Matic) price will reach $1.8 shortly. While there are no clear trends in the market, the current support level of $1.12 is likely to provide strong buying pressure for the cryptocurrency. However, it is essential to consider the factors that could influence the price of Matic and lead to a potential price increase.
The price of Matic is likely to remain stable in the short term, with a potential for an exponential increase in the coming months. One factor to consider is the increasing adoption of decentralized applications and the need for scalable and low-cost blockchain solutions. As more developers and users adopt the Polygon platform, the demand for Matic will likely increase, potentially leading to a price increase.
Polygon (MATIC) Technical Analysis
We will use a few key technical indicators to predict prices for Matic. As previously mentioned, the Relative Strength Index (RSI), Stochastic RSI Fast, Williams Percent Range, Bull Bear Power, and Ultimate Oscillator all indicate a neutral stance for Matic.
The Awesome Oscillator is also indicating a neutral stance for Matic. However, the MACD Level shows a buy signal with a current value of 0.0938, suggesting a bullish trend.
In summary, while it is difficult to predict the exact future price of Matic, it is possible that Polygon’s (MATIC) could reach $2 in the future if there is increasing adoption of the Polygon blockchain, growing institutional interest in cryptocurrencies, and a potential breakout above the critical resistance levels.
Is BTC Price Set To Rebound After Its Sharp Decline? Analyst Marks Potential Breakout Levels For Bitcoin
With hotter-than-anticipated economic data released in February, uncertainty over inflation has increased, and the U.S. stock market is now at a crucial crossroads. Despite growing concerns among investors, the economy displays signs of resilience that may help safeguard Bitcoin against a significant downward shift. Although Bitcoin investors are advised to remain cautious until the release of new economic data and the United States Federal Reserve meeting in March, specific indicators propose that the worst scenario is still in the game regarding fresh BTC lows.
Bitcoin’s Sharp Decline Leaves Investors in Despair
On Friday, the decline of Bitcoin (BTC) was initiated by concerns surrounding the crypto-friendly bank Silvergate (SI), causing the removal of bullish leverage from the futures market. Glassnode’s data shows that during Asian hours, exchanges liquidated longs or bullish Bitcoin futures, which amounted to more than $62 million, the largest sum since August. Additionally, there were short liquidations worth just over $500,000.
Investors in Bitcoin who are still reeling from the shock of recent failures in cryptocurrency companies and banking issues may encounter yet another potential issue: a recovering United States dollar. Currently, there is a widespread belief that the appreciation of the U.S. dollar against other major global currencies, as indicated by the DXY index, will have an adverse effect on Bitcoin.
On March 3, On-chain data from the crypto analysis platform IntoTheBlock, revealed that Bitcoin has fallen below a significant demand zone at $23,000. This decline has resulted in a robust downward momentum, and Bitcoin may potentially retest levels below $20,000. Despite this, there is still a chance for BTC to make a comeback if it surpasses the $23,700 barrier.
What Is Waiting For BTC Price Next?
Bitcoin price has just hit its two-week low, creating a challenging situation for a bullish reversal. An extension in the bearish rally will further weaken investors’ sentiment and bring significant losses as buyers previously opened massive long positions near the $24K level.
As of writing, Bitcoin trades at $22.4K, declining over 3.4% in the last 24 hours. BTC price has recently broken below its crucial support level of $22.5K and aims to trade below its 0.31 Fib levels in the next few hours. However, there is still hope for investors, as positive news near the $22K level will prevent Bitcoin from dropping to the $20K level.
A breakout above the SMA-200 trend line at $23.2K will send the asset to $25K again, from which a smooth upward rally to $28K can be witnessed.
Shiba Inu Prepares For A Rebound With 30% Upswing! This Key Level Will Play A Significant Role For SHIB Price
As the cryptocurrency industry has regained momentum following the storms of last year, one token has emerged as a frontrunner: the Shiba Inu (SHIB) coin. It has been generating buzz on Twitter and Discord for several weeks, and its price has surged by almost 60% since the beginning of 2023, outperforming more significant competing tokens like Ethereum (up 37%) and Bitcoin (up 41%). As a result, market analysts believe that meme coin investors will likely witness a heavy pump in March, and Shiba Inu will take the top place.
Shiba Inu To Dominate Major Meme Coins Soon
One factor that could potentially propel Shiba Inu to new heights is the launch of Shibarium, an upcoming blockchain network that will be integrated with the Shiba Inu coin. It is being constructed as a “Layer-2” blockchain, built on top of the Ethereum blockchain, which provides the foundational structure for Shiba Inu and all its functionalities.
Moreover, Shytoshi Kusama, the developer behind both the Shiba Inu meme coin and its associated Shibarium Layer-2 solution, has announced that a new prominent project has endorsed Shibarium, adding to the growing list of supporters.
Voxel X Network has announced on Twitter that it has embraced Shytoshi Kusama’s vision for a decentralized Shibarium that includes all projects. The tweet further states that Voxel X and over 75 of its listed partners will actively promote Shibarium. This news from the SHIB community sparks fresh excitement among meme coin investors and sets the stage for a solid bull run in March.
SHIB Price To Surge By 30%
Although the Shiba Inu price has experienced a solid rebound in the past, the meme token has witnessed a decline in value recently, leading SHIB traders to suspect an impending downtrend. Nevertheless, the present market trend of the SHIB token suggests a bullish price momentum.
Despite a sharp decline to the weekly support level of $0.00001191, SHIB’s price is flashing bullish signals as it surged above its 23.6% Fib level from the support level. Investors are now eagerly waiting for a breakout above the immediate resistance of $0.000013 to set up a short-term bullish goal in the SHIB price chart.
As of writing, SHIB’s price trades at $0.00001234, with a decline of 0.64% in the last 24 hours. Looking at the 4-hour price chart, SHIB price is preparing to trade above the EMA-20 trend line as it witnesses a spike in trading volume. A breakout above $0.000013 will push the token to a crucial price of $0.000014, above which SHIB price will head toward the Bollinger band’s upper limit of $0.000016.
Cardano’s Bullish Trend Comes To A Halt As Bearish Trap Emerges! Will ADA Price Rebound Soon?
Cardano network made itself at the top of the league with continuous developments last week. However, despite gaining much traction with its Valentine’s upgrade, ADA price is now struggling even to hold its support level. Moreover, the latest downward move by Cardano has left investors worried as a bearish trap has formed, leaving ADA price vulnerable to new lows.
Cardano Takes An Unexpected Turn Amid Major Upgrades!
Input Output, the developing team behind Cardano, has recently released its weekly report on the development of the ecosystem. This update follows the Valentine’s Day release and precedes a significant milestone on Cardano’s roadmap: the journey to the Voltaire era.
The roadmap states that the Voltaire era is the fifth and final phase of Cardano’s development. This transition is of particular significance, as Cardano’s founder, Charles Hoskinson, has previously said that it will demonstrate the process of implementing decentralized governance in the crypto industry.
According to reports, the development team has been making ongoing efforts to address technical backlogs, enhance testing infrastructure, and improve documentation related to the formal CIP-1694 specification, which outlines a proposal to transition into the Voltaire era.
Though the Cardano network is putting all efforts toward improving users’ experience, the ADA token has made a significant price plunge in the last few days and seems to form a bearish trap ahead with a solid divergence pattern.
What’s Next For ADA Price?
For the last two days, the bulls were successful in maintaining Cardano’s ADA token above the critical support level of $0.35. However, they were unable to maintain the rebound above the EMA-20 trend line at $0.38, indicating that the bears are selling during small rallies.
As of writing, ADA price trades at $0.36, with a decline of 4.41% in the last 24 hours. Looking at the daily price chart, bulls are now defending the weekly support level of $0.35, as a breakout may slump the token to $0.28.
However, a prominent crypto analyst, MMBtrader, predicts that ADA price is now preparing for a reversal as it has reached the buyers’ zone for initiating long positions. As seen in January, ADA may continue its bearish trend to $0.32 and make a bullish comeback which will push the token’s price to the critical resistance of $0.42. A trade above EMA-200 will take the token to the level of $0.5 by the beginning of March.
Bitcoin to Rebound Soon-BTC Price May Rise By More than 150% in Q2 2023!
The crypto markets continue to trade under the bearish influence as the Bitcoin price remains consolidated below $23,000. The consolidation is expected to prevail for some more time which could spark a notable rally in the coming days. However, the current trade setup displays a higher probability of drowning in a deep bearish sea.
But the bulls who appear to be passive presently, are accumulating strength to jump hard in the coming days.
Bitcoin nowadays is following the pattern it followed in the past few years. Considering the previous behavior, it is quite evident that the BTC price may soon trigger a massive upswing and ironically appears to be due for a gigantic spike of more than 100% in the coming months. However, the BTC price may continue to consolidate throughout Q1 2023
Therefore, one of the well-known analysts hopes that Bitcoin price may undergo a similar upswing of more than 150% that it did in April 2019.
The analyst compares the consolidation and breakout to that of the 2019 rally and found that the BTC price is mirroring the previous rally. If everything is set in place, the price may rise by more than 150% in Q2 2022 to mark new highs above $50,000.
However, a Bitcoin (BTC) impulse bar has been located between $22942 to $22970 and a successful breach beyond these levels may ignite a notable bullish trend soon. Meanwhile, the bears are also waiting to extract their profits at a higher rate which may hinder the progress of the rally, compelling the price to witness a massive drop in the later days of 2023.
Shiba INU (SHIB) Price Heading towards a ‘Buy-Zone’, This is When it May Rebound!
The crypto space again appears to have descended under the bearish influence as the major crypto lose their respective gained levels. While Bitcoin price is hovering around the $17,500 level, Ethereum price has dropped below the $1300 mark. Meanwhile, the Shiba INU price which has been bearish for quite a while is expected to slash hard offering a good buy opportunity.
The SHIB price rally appears to have weakened to a large extent wherein the sellers tend to place bets with high leverage to drag the price lower. Along with the price remaining within the bearish captivity, the trading volume also suffered a huge drop of more than 31% which is largely composed of selling pressure as the buying volume has waned off.
However, in the coming couple of days, the sellers are believed to gain more influence to drag the price lower.
The technical indicators on the daily chart suggest that the popular meme coin is all set to pull a massive leg down. The RSI is below the neutral in the daily chart, trading within a stagnant trend, pointing towards the south. Meanwhile, the MACD is also flashing bearish signals as a crossover is yet o take place which may drag the price below the immediate support at $0.000008 or even lower.
Besides, a slight increase in traders’ sentiments is witnessed as the daily active address recorded a steep drop in the past couple of days. The addresses which had spiked significantly high to reach more than 17,000 has dropped to as low as 1854 during the early trading hours. However, the number of accounts trading on SHIB remained constant since the beginning of the week, indicating the undermined buying pressure.
Therefore, until the Bitcoin (BTC) price surpasses and sustains above $18,200, the markets could remain unpredictable. This may push the Shiba INU(SHIB)’s price above the resistance which may further invalidate the bearish trajectory.
Bitcoin (BTC) Price May Form the Bottoms Below $12,000! Here’s When it May Rebound!
The crypto space appears to have switched to a recovery mode as the Bitcoin price marked levels beyond $17,000. While the bears continue to mount significant pressure, the tokens continue to hold above the lower support. However, the ongoing upswing is expected to prevail only for a while as the asset remains bearish in the longer timeframe.
A famous analyst, Willy Woo marks some resemblance in the previous rallies in 2015 and 2018. Based on the price trends then, he keeps some levels, that he believes the token could reach in the coming days. In an interview with Scott Melker, Woo says that Bitcoin has just begun with a sideway trend as the buyers have stepped in to hold above the support.
“It’s that time in the cycle really that the accumulation does come in, right? People buy, they put a floor on the price, the volatility drops. And we saw that in the 2018 bottom, 2015 bottom. We even saw it in the 2012 bottom. So, yeah, sure, people are holding the price up because they want Bitcoin.”
The analyst believes that the BTC price has not been largely impacted despite the major fallout of the popular lending platform BlockFi. It could be due to the presence of a huge number of buyers at the current price.
“ It’s being absorbed. What was really interesting with the BlockFi bankruptcy, we saw a sort of pullback. It went down beforhand. I kind of think that was the inside sellers, knowing that the announcement would happen. It went down $500 or something like that and it got quickly absorbed. And then now we’re breaking to the upside. So I think we’ve got a lot of buyers at this price. Certainly, the indicators I have are showing when you see a lot of coins moving and the price going sideways that’s a sure sign of accumulation. So that’s been happening. I’m tracking it. That’s the reason why it’s going sideways,”
When asked about the levels at which the BTC price may mark its bottom, Woo replied to be between $14,000 to $10,000. He had previously revealed as a part of the ‘MAX PAIN’ strategy during the previous week.
“$12,000 wouldn’t shock me $10,000, I think everyone’s wanting and so it usually dosen’t happen what everyone wants. So $12,000 wouldn’t shock me, $12,000, $13,000. It may run away from here ot it may drop even further. These are very broad-stroked indicators. But it’s probably not a bad time to dollar-cost[average] in.”
DeFi Lender COMP Will Rebound in 2023, Taking Uniglo.io Above $1
The DeFi world has helped create a range of new innovations for the future of digital finance. Many of these could help reshape the financial world. Despite recent market dips, they could also help bring substantial gains to investors who pick the correct tokens for their portfolios. There’s still plenty of money to be made in crypto if you know where to look, and specific projects are gearing up for success over the next year.
That’s why a longer-term mindset is crucially important right now. Overnight gains are hard to predict and extremely risky. With current market volatility still in place, you might be better off ignoring hourly charts and gearing your portfolio up for the next year. That’s where the real gains will be made. Especially with one of these tokens:
Uniglo (GLO)
While Uniglo doesn’t rely on any asset in its unique store of value for success, it can still thrive off the back of an improved future for the likes of COMP. This store of value in the GLO vault will be protected against negative market swings and acts as an asset-backed reserve for the token’s base price, which fiat currencies lost long ago. With a community-led approach, holders of GLO will get a full say on every asset purchase and when to sell them. It’s a project that rewards and values its community, and it could be well-placed to help fight the world’s growing inflationary concerns. That’s why it’s the perfect pick for your portfolio.
Compound (COMP)
Compound has helped create a new era of peer-to-peer lending opportunities and offers a considerable number of financial features which could be a massive part of the future of the space.
While it has been slumping recently, experts think it could rebound to all-time highs and beyond in 2023. This presents excellent upsides for investors in COMP and projects like GLO. Now could be the time to invest in both of them.
Conclusion
COMP and GLO can both enjoy huge successes in 2023 and beyond. If you want some solid investment picks that have the chance to shine, they could be your best options. That’s why many savvy experts are deciding to add them to their portfolios.
Find Out More Here:
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
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These Altcoins May Stand Strong Amid the Bear Market, But Will They Rebound?
The bearish pressure on the cryptocurrency markets is starting to ease slightly as Bitcoin prices quickly recovered from their recent lows of around $18,200. The BTC price broke down from the bearish flag, marking the bottom, which offered a catapult action to rise nearly 10% from its lows. Meanwhile, some of the altcoins stood strong, withstanding the bearish pressure and presently gearing up to establish a successful Uptober.
Ethereum (ETH)
The Ethereum price surged notably before the FUD circulating around the CPI rates dragged the asset below $1200. However, the prices rose notably and reached the upper resistance of the falling wedge. After a brief consolidation, the price may rebound and pierce through the pattern to reach immediate highs of around $1508.97.
Polygon (MATIC)
Polygon is among the platforms that have been constantly working to strengthen the Ethereum network and the DeFi/NFT space. The MATIC price, however, tanked heavily and reached close to $0.7, but the price quickly rebounded and surged by 15% to regain levels above $0.8. The price is expected to rise well beyond $0.84 after withstanding a couple of bearish interferences.
Avalanche (AVAX)
The price of the Avalanche has sharply declined, continuing a clear downward trend that began around the middle of September. However, the asset rebounded quickly after reaching the bottom below $15. Price is attempting to amplify the bullish candle that is currently in place in order to spark a significant upswing over the upcoming weekend. After rising above $17, the asset might experience some bearish action, drop back to the same support level, and then start to rise again.
Collectively, the markets seem to have rebounded significantly and are believed to continue on a decent upswing until the weekend. However, the weekend trades are expected to turn the tables for the altcoins as well and witness significant price action.