Ethereum price has been maintaining a significant strength and consolidating heavily along the interim resistance. The trend currently appears to remain capped below $1650 but also flashes bullish signals that may uplift the rally in the coming days. The price slipped below $1600 after the fresh trend reversal and is failing to reclaim the position at the moment.
The volume has dropped significantly, which appears to have kept the price compressed. Moreover, the possibility of some bearish divergence is flashing due to which the price could further drop below $1500. This could be the trigger of a massive upswing fueled by the bulls and the whale who may enter at the interim bottoms.
Ethereum price is trading within a falling wedge which is largely considered bullish. The price was expected to face rejection and drop below $1500 as it holds these levels tightly, it indicates the price may revamp with a significant bullish trend soon.
However, the bearish divergence in RSI may be a little concerning which may loosen the grip of the rally. Unless MACD is hovering within the positive range, the possibility of a notable upswing may not be eliminated.
The ETH price is trading at $1575.29 with a slight jump of 0.23% in the past 24 hours. The trading volume has dropped extensively by more than 23%, while the market cap is advancing towards $193 billion at the moment. The levels at $1650 can be considered pivotal that may determine the direction of the impending rally.
The Cardano (ADA) cryptocurrency displayed significant price action in the early days of 2023, rising over 60%. It broke out of a daily bearish trendline and is attempting to break through the resistance of a bearish pattern. Although there were some bearish interruptions, the bulls managed to maintain the rally. However, there is a possibility that an inverted impulse could cause the price to decrease in the near future.
The Cardano (ADA) price appears to have been rejected at the upper resistance of a descending parallel channel as bearish sentiment has intensified around these levels. However, there is still a chance of a bullish breakout that could lift the price to the upper resistance at $0.57, after surpassing $0.55. On the other hand, a rejection could cause the price to fall to the lower support near the 2022 bottom.
Additionally, there are upcoming events that could provide a bullish boost, such as the launch of the native stablecoin Djed scheduled for the coming week. Furthermore, the Cardano-based wallet is approaching the $4 million mark and currently stands at around $3.9 million. With nearly 1000 projects being built on Cardano, a third of them being NFTs, it is clear that the platform is attracting new projects. However, the price trend remains uncertain.
Therefore, the upcoming weekend may turn the tables for the Cardano (ADA) price and pave the way for reaching higher targets.
Aptos price surged from the ranges around $3.5 to mark the yearly highs beyond $20, attracting immense bearish activity at the moment. The extended consolidation has however raised the speculation of a massive sell-off for the crypto is fast approaching. However, regardless of the current trade set-up, the APT price continues to flash extremely bullish signals that may set off a fresh upswing very soon.
The APT price marked a new ATH of $20.39 after surging by more than 400% since the beginning of 2023. The rally is speculated to shed all of its gains due to the weak fundamentals and an increase in negative market sentiments. However, below mentioned are some of the reasons that indicate the Aptos rally may resume any time from now.
Facebook’s Brain Child
Aptos is the end result of Facebook’s attempt with the Libra Blockchain which failed to receive a regulatory nod due to which it was forfeited mid-way. The team behind Libra further found Aptos which is a decentralized version of the abandoned project. Also, the platform raised a $300 million fund in 2022 which was followed by Binance investing to help boost the ecosystem.
The network was launched at the beginning of Q4 2022 and is still in the early stages of its development. Presently, there are only a few countable projects and smart contract activity on the chain. The APT transfers currently record more than 95% of the blockchain transactions at the moment. However, the development activity has been surging as the number of developers on Aptos has now surpassed Avalanche and Tezos but continues to be behind Solana, Polkadot, Cardano and Ethereum.
Mounted Bullish Momentum
With the sudden rise in the APT price, many continue to remain in disbelief that Aptos’s market cap surged beyond $2.8 billion and the token marked an entry into the top 30. However, now that the bullish sentiments have mounted, going against the trend may not be a good idea for traders. However, the APT shorts is also surging as the price is marking new highs. This may further create an opportunity for a short squeeze that may swell the price soon.
Selling Pressure May Not Mount
The Aptos tokenomics has been built in such a way that the selling pressure is limited for the first year from its launch in October 2022. The APT remains locked with the investor for a period of a year until October 2023 after which the circulating supply of APT could be raised significantly. Until the tokens are unlocked, traders receive their staking rewards which is the only way to inflate the prices as of now.
APT Kimchi Premium
The Kimchi premium is nothing but the gap between the crypto prices in South Korean exchanges and the other global exchanges. The buying interest for APT is flooding through the Korean exchanges with the won pair on the UpBit exchange. The exchanges are recording nearly 40% of Apto’s trading volume and the APT prices are also traded 1% to 3% at higher prices compared to the other exchanges.
On January 20, the price of Ethereum recovered above $1,600, wiping out its losses from the collapse of the FTX exchange. However, after reaching a recent high of $1,638, the price crashed to $1,527. The large profit-taking transaction ratio increased on January 20 according to experts at Santiment.
The FUD around ETH, according to analysts at Santiment, may in the medium term feed a bullish narrative for the asset. 21% of conversations on social media sites involved currency.
They saw a sharp increase in the ratio of transactions for profit-taking. The social dominance of the second-largest cryptocurrency by market capitalization also increased at the same time. Data from Whale Alert indicates that a whale today dumped 24,768 ETH worth $38 million into the cryptocurrency exchange Coinbase. Over the previous three days, whales moved ETH worth around $200 million to liquidity pools and crypto exchanges.
What’s Next for Ethereum?
Popular cryptocurrency analyst Michael van de Poppe predicted a further decline in the price of Ethereum to around $1,450. The critical support level of $1,550, according to him, may see some rebounding in the price of Ethereum, but the real bounce for another rally will only come from below that level.
He wrote on twitter, “Some slow grind upwards and then one more sweep in the coming days and the correction should be over and we’ll continue the party.”
Rekt Capital wrote, “$ETH is dipping in an effort to retest the black diagonal multi-month downtrend as support. The diagonal needs to hold firmly however as there is a danger of this Monthly Candle ending up as an upside FOMO wick beyond resistance.”
However, the price of ETH will continue to be under pressure until the U.S. Federal Reserve’s rate hike decision on February 1 and until the release of the fourth-quarter GDP statistics on Thursday. At the time of writing, Ethereum is trading at $1,548 and has lost more than five percent in the last 24 hours.
The world of cryptocurrency is constantly evolving with new players entering the market and established ones experiencing fluctuations in value. Among the most exciting developments in recent months are the trio of blockchain projects known as Solana (SOL), Polkadot (DOT), and Snowfall Protocol (SNW).
These three projects have been making waves in the crypto space, with each offering unique features and benefits to users. In this article, we will take a closer look at these three projects, and explore their potential impact on the world of blockchain and cryptocurrency.
Solana’s (SOL) history of volatility raises concerns for investors
Despite its recent surge in price, Solana (SOL) is not without its disadvantages. One of the biggest concerns about Solana (SOL) is its history of dramatic price fluctuations. Last year, the price of Solana (SOL) collapsed by more than 80%, which has recently begun to recover. This volatility can make it difficult for investors to make accurate predictions about the future value of the coin.
Additionally, Solana’s (SOL) position as an “Ethereum killer” may be overstated. While the project has some unique features, it still faces stiff competition from other blockchain platforms. The current price of Solana (SOL) is $23.01, with a 24-hour trading volume of over $1.5 billion. However, Solana (SOL) has seen a 1.07% decrease in value in the last 24 hours.
Polkadot’s (DOT) lack of transparency raises questions about Nomination Pool functionality
Polkadot (DOT) has made significant progress with its new Nomination Pool feature, but it is not without drawbacks. The platform has been cautious in providing details about how the Nomination Pool works, which can make it difficult for users to fully understand its capabilities. Additionally, Polkadot’s (DOT) decision to double the maximum number of pools to 128 may lead to a higher level of centralization. Moreover, Polkadot’s (DOT) recent ranking as the number one cryptocurrency with the highest Nakamoto Coefficient metric may be misleading as it is not a measure of decentralization. As of now, the value of Polkadot (DOT) is $5.76, with a 24-hour trading volume of over $308 million. However, Polkadot (DOT) has seen a decrease of 3.63% in the last 24 hours.
Investors take notice of Snowfall Protocol’s (SNW) potential for long-term success
The multi-chain communication mechanism was difficult and immature until Snowfall Protocol (SNW) was introduced. However, Snowfall Protocol’s (SNW) dApp enables the easy and secure transfer of both fungible and non-fungible assets. It is the first cross-chain platform to allow asset transfers across EVM and non-EVM chains. While still in its early stages, Snowfall Protocol’s (SNW) excellent performance during its presale phase has piqued the interest of both investors and industry experts.
The initiative is expected to grow rapidly, with potential profits of up to 1000x. Leading investors are starting to realize Snowfall Protocol’s (SNW) long-term potential, making it an excellent moment to participate in the project because the price is still relatively low compared to where it will be once the presale phase concludes on February 3rd. Snowfall Protocol (SNW) is currently trading at $0.191, and is predicted to rise higher in value.
Solana (SOL), Polkadot (DOT), and Snowfall Protocol (SNW) are all exciting projects with unique features and benefits. While Solana and Polkadot (DOT) have their drawbacks, Snowfall Protocol (SNW) stands out as a revolutionary project with the potential to change the way we think about blockchain and cryptocurrency. With its innovative dApp and strong investor interest, Snowfall Protocol (SNW) is a project to watch in the coming months.
Get in while you can and invest in Snowfall Protocol (SNW) today!!!
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Dogecoin’s price has been on a rising trajectory since Elon Musk acquired Twitter Inc. for $44 billion late last year. From a daily and weekly chart, the Dogecoin price has formed a falling wedge, which usually signals that the trend will resume later on. As such, market analysts believe the meme lord could rally beyond its October highs of about $0.159 soon.
The rising narrative is backed by the 200W MA, which has supported the price in the past two days. Moreover, the Dogecoin price already broke out of the multi-week falling trend and is now retesting the trend line as a support level.
However, the narrative could be invalidated should the Dogecoin price fall below the trend line support, which would then act as a resistance level once again.
According to our latest crypto price oracles, Dogecoin has gained approximately 18 percent in the past 14 days to trade around $0.084497. The ninth-largest digital asset takes pride in a market capitalization of approximately $11,649,383,387 and a 24-hour trading volume of about $526,969,058. Notably, Dogecoin has recorded total liquidation of approximately $1.61 million in the past 24 hours according to aggregate data provided by Coinglass.
According to several crypto analysts, the next probable trend in Dogecoin is a multi-week consolidation before the next bull market takes place. Furthermore, in the past two bear markets that Dogecoin has existed, first between 2014-2017 and second between 2018-2020, consolidation has taken place in multi-quarter before going parabolic.
As the second largest proof-of-work (PoW) digital asset, Dogecoin has attracted investors from all over the world. According to on-chain data from Tokenview, Dogecoin has about 5,173,869 holders and a total hash rate of approximately 630.95 (TH/s).
The ripple vs SEC case has been the top-rated event ever since its inception back in December 2020. While some of the market participants still believe that the prices could deflate soon to mark new lows, XRP whales sense the upcoming trend and begin to work on their strategy. Recently, a huge transfer was recorded which collided with the times when the XRPArmy believes the lawsuit will be settled in 2023.
In a recent development around the lawsuit, John Deaton, founder of Crypto-law and the XRP Army representative in the court held a poll. The poll was to know whether the lawsuit will be settled in 2023 or not, which resulted in more than 50% of positive responses. Soon after the polls went live, whales became active and transferred huge amounts of XRP tokens.
The XRP whales appear to have moved more than 618 million XRP worth nearly $221 million collectively in the past few hours. While the whales nowadays have not remained dormant and continue with their transfers frequently, the timing that collided raised many eyebrows. Besides, the price remained largely unchanged.
The price, however, remained largely consolidated below $0.35 for the past few days and display the possibility of a bearish yearly close. Meanwhile, if the Summary Judgement is produced as per the schedule, somewhere by the end of Q1 2023, then the possibility of a major price action could emerge. Else the recovery phase may be extended with fewer or no volatility for long.
During the last quarter, it was the NFTs that reignited the bull run, as the cryptos corrected heavily after reaching their respective highs. However, as the trading volume has fallen below half a billion since the start of the annual trade, the NFT space has diminished. From a peak of roughly $17 billion to just under $466 million in September, they declined. The number of sales that exceeded 117K has significantly decreased to just 7281.
It is now crucial to understand whether the NFTs will recapture mainstream interest in the days to come. Then perhaps now is the time
With market sentiments rising slightly, the FLOW price recorded a massive growth of more than 30% in the trading volume. However, after trading around $1.7 for nearly a week, the price dropped below $1.4 recently. Therefore, in the coming days, the price is expected to regain the lost resistance and further attempt to surpass the $1.8 level initially and later test $2.
Apecoin, being the second largest NFT after Flow, is striving to regain the $5 mark while the levels around $4.7 are hindering progress. Meanwhile, the volume has surged notably, which may hold the APE price above the crucial support. Hence, the price may rise beyond $5 during the upcoming weekend, which may pave the way to reach the immediate highs at around $6.
Just before the previous day’s close, XTZ’s price pulled a massive leg up of more than 12%, challenging the bearish action. However, since then, the price has been consolidating within a very narrow range, which indicates the possibility of a notable upswing. As the price continues to trade within a bullish flag, a breakout may uplift the asset close to $1.5. Here, a slight push by the bulls may further enable the price to trade beyond the levels.
The market cap of the token has been maintained above $1 billion despite tremendous bearish pressure. However, with the recent jump in the trading volume of more than 35%, the market is expected to surge, enabling the MANA price to test the upper resistance. The upswing, however, may not trigger a jump to $1.5 but may certainly rise the price close to $1.
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Ethereum Price Making ab Effort to Rising Above $1400, While a 20% Drop May be Imminent – Coinpedia – Fintech & Cryptocurreny News Media
The bears appear to have not spared the second-largest crypto despite the successful implementation of the Ethereum Merger. The price had surged high to reach $1800 ahead of the merger, while a steep drop dragged the price down heavily. Ever since then, the ETH price is experiencing an acute selling pressure that compelled the price to slice down the crucial support levels over the past weekend.
While the price is believed to recover slightly, the technicals do not appear o be in favor of the bulls. The chart pattern suggests that the asset is due for yet another leg down and may test the levels close to $1000 or even lower very soon. Additionally, the broader crypto market may come under extreme selling pressure shortly as the FOMC meeting is around the corner.
Ethereum price with the recent price action has dropped below the crucial trend line, it followed since it rebounded from the yearly lows. Luckily, the price managed to rebound from the levels just above the lower support, while the bears continue to mount significant selling pressure. Therefore, the possibility of a lower price action emerges as the technicals continue to flash bearish signals.
While RSI has not rebounded from the lower support, MACD displays the revival of the bearish pressure. Moreover, the strength of the ETH price rally also appears to be weak, and hence no specific upward swing may be expected until the end of September.
By not being impacted by any external factor, ETH price shows it of being independent but the market sentiments continue to impact. In the coming days, the second-largest crypto, Ethereum is expected to maintain a slow yet steady upswing that may prevent excessive price drain. But for now, a descending trend appears to be imminent.
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These past few months have seen many devastating things happen in the crypto world, and many tokens, including Apecoin (APE) and Solana (SOL), have suffered because of it. To combat losses, investors have set their sights on the upcoming protocol — Flasko.
Why is Flasko making waves when Solana (SOL) and Apecoin (APE) are trailing behind? Here are a few possible reasons.
Apecoin (APE): May be overhyped
Apecoin (APE) made waves last year when it was airdropped to holders of the Bored Ape NFT holders. Apecoin (APE) is a governance and utility token used within the Apecoin (APE) ecosystem to incentivize the decentralized community behind the NFT project.
Since Apecoin (APE) started trading, it has gone as low as $1 and reached heights of $39, making those who got a piece of the pie rich indeed. That was six months ago. These days, the Apecoin (APE) value hovers around $5, and many investors can’t see the utility except you own a Bored Ape.
Solana (SOL): Will it ever enter the 100s again?
Solana (SOL) token value was once as high as $260 however that was ten months ago. In recent days, it has been ranging between $30 and $45, which has led to a lot of speculation on what the future holds for the Solana (SOL) ecosystem.
The Solana (SOL) community is one of the most resilient communities in the crypto world, but these days more people have been losing faith because of the price fall. While Solana (SOL) remains a great prospect for profit, it can not afford to continue losing investors.
Flasko (FLSK): The rising star
Flasko’s ultimate goal is to ensure investors make a profit by helping them invest their funds in rare drinks like exotic wines, champagne, and whiskeys. These products are known to appreciate and can also serve as a hedge against inflation.
The Flasko protocol has completed its audit with Solid Proof, and the information that has been made public about the protocol has made many investors and smart money whales bullish on what it has to offer. Liquidity will remain locked for 33 years to ensure safety and a signal of the longevity of the protocol.
It is well known that those who invest early into projects often make the most significant gains. We strongly believe this is the case now as Flasko’s unique attributes make getting in now a wise decision.
The Flasko token presale is ongoing at $0.025, and a number of whales have been taking advantage of its current price to accumulate as much as possible. Analysts believe the Flasko token will be 10x by 2023 and will give other tokens a run for their money. We would advise you to not miss out on this opportunity!
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