Bitcoin price has edged 2 percent lower today to trade around $23.4k on Friday. After retesting $24k twice on the four-hour time frame, the RSI indicator has formed a falling divergence that most often leads to a price dump. Bitcoin bulls should be extremely careful with the death cross, which entails the 50 and 200 WMAs, not to happen for the first time since its inception.
Furthermore, the 50 and 200 WMAs have acted as a support line for the past ten-plus years and would turn to a resistance line if the death cross occurs.
Nevertheless, popular crypto analyst Rekt Capital thinks Bitcoin will break the macro downtrend next month or in April. Moreover, on-chain data shows Bitcoin miners have reduced their sell pressure after taking profits in the past few weeks. Additionally, whales continue to accumulate more Sats irrespective of the price volatility.
Bitcoin Market Under Macroeconomic Influence
By now, it is safe to say that Bitcoin price has a significant correlation with global market indexes due to high institutional adoption and crypto regulations. During the last few days, Bitcoin price has reacted to the high-impact news from the Fed statement regarding interest rates. As the United States dollar exhibited more weakness, Bitcoin price edged higher to $24k.
“I do expect it’s likely DXY will retest what was support and now overhead resistance. This would align with my inverse expectation on BTC and Crypto moving down a touch before a final ‘blowoff’ high (not much higher imo),” Mathew Dixon, CEO Evai, noted.
With more high-impact news expected from the United States later today on the unemployment rate, more volatility is expected in the crypto market during the weekend.
Ethereum (ETH) is noticeably on the rise along with the overall increase in performance of most crypto assets. Though general crypto market sentiment continues to be the key driver of Ethereum price growth, network activity has boosted confidence among all Ethereum investors. In January 2023, Ethereum emerged from a downturn that had been in place since May.
According to the Titan of Crypto, Ethereum is forming a Bullish Cypher Pattern. “Just like for #BTC, a bullish cypher pattern is currently playing out on #ETH weekly chart as well,” he said on Twitter.
According to the anonymous cryptocurrency analyst Crypto Yoddha, Ethereum has successfully broken out of the symmetrical triangle or “pennant,” paving the path for its price to perhaps reach $3,500 soon.
This pattern specifically appears when the price of an asset consolidates in a way that results in two trend lines that are converging and have about equal slopes. Price is poised to either break through the top trendline for a breakout or the lower trendline for a breakdown as it progresses toward the apex.
According to experts, ETH’s Aroon Indicator shows a decline in positive sentiment. An analytical tool for determining trend strength and trend alterations is the Aroon indicator. The strength of the uptrend is measured by the “Aroon up” line, and the strength of the downtrend is measured by the “Aroon down” line. The Aroon Indicator shows that the bullish mood has dramatically waned during the last few weeks on the daily chart and at 21.43%, the Aroon Up line was seen.
At the time of writing, Ethereum is trading at $1,680 and is up by more than 7 percent in the last 24 hours.
The crypto market started the year on a positive note where most of the cryptocurrencies doubled their value. Since the start of 2023 Bitcoin has jumped nearly 40% and managed to hit a high of $23,861 just a day before, on January 29. This phenomenon pushed the overall cryptocurrencies on a brighter side where even the global crypto market cap has moved beyond the $1 trillion mark.
At the time of writing, Bitcoin is valued at $23,236 after a fall of 1.32% over the last 24hrs.
However, many industry experts have claimed that the upcoming week will not be a cakewalk for the crypto market. This is because they expect many global events that might rebound the positive market and the same is already felt as BTC loses nearly 2% in the last 24hrs.
Top Events Affecting Crypto Market
- Fed’s Interest Rate Hike
The Federal Open Market Committee or also known as FOMC is set to have its next meeting on February 1st. Even though most of the investors and traders expect the US Federal Reserve to reduce the interest rate hike by 25bps, the possibility for 50 bps is still under consideration. Further, this interest rate hike will influence Fed Chair Jerome Powell’s approach.
- Interest Rate Hike By European Central Bank
Next, as per the reports, the European Central Bank is expected to increase interest rate by 50 bps. Along with the European Central Bank, even the Bank of England is set to hike interest rates by 50 bps on February 2nd.
- Major Tech Companies To Release Quarterly Results
It’s a known fact that the crypto market is always correlated with the US stock market, especially Nasdaq 100. This week major tech companies like Meta, Apple, Google and Microsoft are set to release their quarterly report which will have a deep impact on Bitcoin.
- US Unemployment Data
This week the US Bureau of Labor Statistics will release the non-farm payrolls and their unemployment rate data. As of December 2022, the US unemployment data has decreased to 3.5% as the country’s economy had added 223,000 jobs during the same time.
The coming week will be extremely important for the crypto market because of which the traders and investors will have to reconsider their investment decisions.
Top Altcoin to Watch: With a 50x rally, this Layer-1 Token May Soon Outperform Bitcoin and Ethereum!
As the markets are turning a little bullish some of the altcoins are gaining significant gains. Among them is Avalanche (AVAX) which is believed to explode in the coming days. Crypto Bull and CIO of Morgan Creek Capital, Mark Yusko says Avalance (AVAX) has the potential to skyrocket by 50x in the next bull market.
In an interview, the veteran says that the popular smart contract platform may even outperform the entire crypto space.
“The key to investing in this ecosystem is diversification. Don’t pull all your eggs in one basket. You want to have a big chunk in Bitcoin. But if you think about it, if Bitcoin is as successful as we all think it will be, it won’t be the best performing, full stop.
Just because it’s the largest. It’s just the law of large numbers. You’re not going to go from $400 billion today-even if you go to $4 trillion, that’s a 10-bagger. Ethereum is at almost $200 billion – if it gets to $4 trillion that’s almost twice as much.
But if Avalanche actually becomes that intermediate layer, or becomes a bridge to connect Ethereum..it could be maybe 50x.”
Avalanche (AVAX) price is currently trading at $17.30 with a massive drop of 6.89% in the past 24 hours.
The AVAX price which was trading within a rising wedge, dropped down slicing through the lower support of the wedge. However, after undergoing a minor bearish action, the price has ignited a notable correction phase. As a result, the bearish influence is expected to fade quickly, but it may remain valid until the price rises above $18.
Last year, Ethereum made its historic shift to the proof-of-stake (PoS) mechanism, which is the ‘Merge’ event in the network, and now the eyes of the crypto community are on the upcoming ‘Shanghai’ upgrade, which may take place in March. ETH traders eagerly await the Shanghai hard fork, which will allow users to access their locked Ether staked on the beacon chain. Thus, the price of Ethereum remains on the bullish verge as the mood in the crypto market gradually improves.
ETH Price May Retrace To These Levels
Ether’s price has made over a 22% increase by the first two weeks of January due to the anticipation of the upcoming Shanghai upgrade. Moreover, the demand for the second-largest digital asset has witnessed an exponential surge as whale investors continue accumulating massive holdings.
However, several analysts believe Ethereum may flash a downward retracement if it brings fear situations near resistance levels, forcing investors to liquidate huge ETH holdings.
According to a well-known crypto analyst, TheNewsCrypto, ETH has formed a descending channel pattern and developed crucial levels in the price chart to validate further momentum. The analyst predicted Ethereum’s price might spike to its initial resistance level of $1,697.90 if it holds above its support level of $1,407.87.
He further noted that the ETH price might head toward its next resistance level of $2,041.14 if it breaks above its immediate resistance level. However, a price reversal is expected if ETH’s price trades below $1,400, from which it can witness a freefall of $1,067.18.
Will Ethereum Hit A Big Milestone?
After several big trading sessions in the ETH price chart, the asset’s trend has now slowed down near its crucial region of $1,500 as it faces intense selling pressure from bears. According to CoinMarketCap, Ethereum is currently trading at $1,557 with a minor downward retracement after failing to break above $1,600.
Looking at the daily price chart, both RSI-14 and Stochastic RSI trade in the overbought region at the level of 82 and 96, respectively. Hence, a downward correction to $1,425 for Ethereum is predicted as ROC starts to decline to 23.6% Fib retracement.
However, the 200-week MA indicates that the asset is under the bull’s control. If Ethereum holds above the EMA-200 trend line, it may consolidate further and again make an attempt to cross smaLong. A breakout above $1,600 may send Ethereum to trade near Bollinger band’s upper limit at $1,690. Conversely, a trade below $1,500 may plunge Ethereum to the bottom levels, challenging December’s price trend as it can again bring volatility near the $1,320-$1,400 region.
The altcoin market is led by Aptos (APT) and Fetch.si (FET), is on a bullish sentiment following Bitcoin’s surge to $19k in the past 24 hours. According to our latest crypto price oracles, Aptos price is exchanging at $6.34, up approximately 22 percent in the last 24 hours.
Notably, the APT price is up over 70 percent in the last seven days and market analysts believe there are more upside gains. The Aptos network has a market capitalization of approximately $813,689,465 and a 24-hour trading volume of about $557,229,215.
The Fetch.ai (FET) price, on the other hand, is trading around $0.233030, up approximately 24 percent in the last 24 hours. Notably, the FET price has surged over 115 percent in the last seven days with more gains in the last few hours. The FET network has a market capitalization of approximately $241,423,231, and a 24-hour trading volume of about $185,789,732.
While speculation and FOMO are largely attributed to the recent crypto pump, the utility has played a significant role in specific projects. For instance, Fetch.ai (FET) is developing a decentralized ecosystem on the autonomous of Things (AoT).
Notably, the Fetch.ai network is an interchain protocol, based on the Cosmos-SDK, and uses a high-performance WASM-based smart contract language (CosmWasm). As such, it allows the Fetch.ai network to serve as a layer-1 network for Ethereum and as an interchain bridge to the rest of the blockchain world.
From a technical standpoint, the FET price could end the week trading around $0.25 or beyond. Such a scenario could be invalidated if the weekly derivative bar closes on a bearish wink. In that case, the FET price could correct toward the $0.14 region.
“$FET performed a Weekly Close above the red region & successfully rallied to new Yearly Highs. Approaching the next resistance (orange). If FET turns the orange area into support and/or Weekly Closes above it -> blue
Otherwise, a dip to red may be next,” Rekt Capital noted.
The Aptos market, on the other hand, has gained significant momentum after breaking out of the $5.3 resistance level. After closing Thursday on a strong and bullish bar, analysts believe the digital asset is headed for the $6.86 region soon. Moreover, the so-called Solana killer has a vibrant global community and active developers.
As the world ushered in the 23rd year of the 21st century, the cryptocurrency market celebrated the fourteenth birthday of Bitcoin (BTC). However, the bleeding recorded in 2022 has increased the fear of holding onto digital assets. Furthermore, over $2.2 trillion has been wiped out of a decade-old market in less than twelve months. Nonetheless, market strategists are optimistic the crypto market will stabilize in 2023 with some calling for a mini-bull market.
While the crypto market is largely dependent on speculative aspects, analysts unanimously agree macroeconomic aspects are to be respected this year in the digital economy. Mind you, Bitcoin price and some top altcoins like Ethereum have shown a high correlation with the traditional stock market.
Additionally, the cryptocurrency market has significantly been regulated around the world following the Terra Luna and FTX implosion.
At the top list, the Ethereum community is eagerly waiting for the network update to enable withdrawals of staked Ethers.
“Withdrawals are as good as done,” Marius Van Der Wijden, a Software Developer at the Ethereum Foundation, noted. “All that is left to do is to test the code that enables withdrawals, which should be mostly done by February/March” Van Der Wijden added.
Also, cryptocurrency traders will be watching out for Federal Reserve (Fed) meetings, which are regarded as high-impact news. For instance, the FOMC meeting minutes are 8 times per year with the next release expected on February 22, 2023.
Notably, the FOMC meeting minutes are a detailed record of the most recent meeting, which provides in-depth insights into the economic and financial conditions that influenced the committee’s vote on where to set interest rates.
Key Events to Watch out for in Crypto Space
Following the high volatility recorded in 2022, the crypto community understands that regulations will play a crucial role forward. In 2023, all attention is on the Ripple vs SEC lawsuit, which is anticipated to end after two years of court proceedings. With the loss of the LBRY case to the SEC, crypto firms have joined hands to support Ripple in the case. Furthermore, twelve crypto firms including Coinbase Global Inc. have joined the Ripple case via formal amici briefs.
The ruling on Ripple vs SEC lawsuit is expected to be a case example for most decentralized financial platforms (DeFi) like ERC20 tokens.
The FTX case ruling is also highly anticipated as investors wait to get refunded their money. After SBF pleaded not guilty in a United States court of law, the next hearing is expected at the end of this year.
As early as the first quarter of 2023, several cryptocurrencies could experience a price surge. Your chances of seeing early earnings this year increase if you have these coins in your portfolio.
A well-known cryptocurrency analyst claims to be keeping a watch on three cryptocurrencies that are showing momentum to start the year.
Let’s analyze the top three picks of the season:
The peer-to-peer payments platform Litecoin is the altcoin that pseudonymous analyst DonAlt prefers, he informs his 448,700 Twitter followers (LTC).
In terms of the US dollar and Bitcoin (LTC/BTC), the crypto analyst believes that Litecoin is on the rise.
The LTC/BTC pair recently broke down from its range low but has since rebounded above that level. As long as the 0.00319 resistance holds, it’s likely that LTC will reach its range high, resulting in a four-fold increase in value.
The USD pair of LTC has also seen a breakout, although not as strong as that of the BTC pair. Despite this, many investors are optimistic that the currency will close out the year on a high note.
Traders are also keeping an eye on the cryptocurrency alternative Monero, which prioritizes user privacy (XMR). DonAlt notes that Monero is exhibiting relative strength as compared to Bitcoin (XMR/BTC).
As long as it maintains the breakout level of 0.0073 BTC ($121.39), the analyst believes it will continue to seem highly favorable when compared to BTC.
Because of this, the pair’s value in terms of the US dollar is dwindling. An enormous range of error exists between the minimum (about $90) and maximum (approximately $230).
In light of the fact that most altcoins have lost value by around 90% in comparison to Bitcoin, this is an impressive showing of fortitude.
At the time of writing, Monero is trading for $148.87, up 1.35% compared to the previous day.
DonAlt also includes Tron, a smart contract system, on its list of alternative cryptocurrencies (TRX). The crypto researcher sees some strong signals in the TRX/BTC ratio and believes this could be a good year for the coin.
The high-level BTC chart looks better than it has in a long time, and the USD chart looks about average. The expert is reluctant to say it, but this is likely one of the coins to keep an eye on in 2023. Above $0.063, it’s a bargain compared to the US dollar.
TRX is trading at $0.054, down a tiny amount from the day before.
Even though the market is in a bearish phase, there may be some good news in the form of rising interest in lesser-known coins. Sometimes a bear market will terminate when the last remaining bulls change their minds and become bears, at which point there will be no buyers. The price finds stability, and fresh buyers flood in, sparking a trend reversal and an upswing.
The post Ripple Vs SEC Lawsuit: Here are 5 Important Dates to Watch! appeared first on Coinpedia Fintech News
Recent developments in the long-running legal dispute between Ripple and the U.S. SEC over XRP suggest that its end is just around the corner. The litigation should be resolved in the first half of 2023, according to Ripple CEO Brad Garlinghouse, however, it may be difficult to determine when it will be resolved.
Attorney James K. Filan has noted that there are sealing disputes related to the requests for summary judgment and has also revealed the important dates for 2023 starting January 4. The lawyer for the XRP community said that there are five significant dates to look for in the ongoing Ripple-SEC case, adding that this is the final timetable that might put an end to one of the biggest crypto lawsuits.
It is not yet known whether the disputes will be resolved before or at the time of the motions. In accordance with the decision announced on December 19, any motion by a nonparty to seal any summary judgment materials must be submitted by January 4 of 2023.
“Any non-parties must file a Motion to Seal any Summary Judgment Materials to the extent the non-party seeks additional or different sealing treatment or redactions than requested by the Parties.”
Parties are required to submit oppositions to omnibus motions to seal those that were filed earlier on January 9, 2023. The Daubert motions and associated exhibits must be filed by the parties on January 13 on the public docket with the appropriate redactions in accordance with the court’s judgment on sealing. All parties and nonparties are required to submit any opposition to non-party motions to seal by January 18, 2023.
“If no motion to seal is received by January 4, 2023, the non-party waives their right to object to the Court’s ultimate ruling on the Parties’ motions to seal or redact the Summary Judgment Materials.”
Dogecoin price remained largely bearish throughout the year 2022 and spike high suddenly after it received huge buying volume in the first few days of November. The price which maintained a stagnant trend for more than 4 months, spiked by more than 150% in just a couple of days.
Undoubtedly, the price has almost halved since then but keeps up the bullish momentum. The DOGE price has raised the lower support levels and attempting a rebound and with a successful flip, the price may rise high in Q1 2023.
Shiba INU dropped by nearly 75% since the beginning of the yearly trade and presently maintaining a steep bearish trend. Presently, the price is testing the levels pretty closer to the June support levels and hence assumed to ignite a rebound very soon. As the volume has been hampered to a large extent, the bearish consolidation may prevail for a long which may end up in a giant move toward the north very soon.
Cardano price is hovering along the crucial area to hold and attempting very hard to trigger a rebound. However, after a brief consolidation, the price may begin with a brief uptick but slowly yet steadily. The pace may be lowered and hence it may consume more time than required. The price may reach the bottom in the first few days of 2023 and after a minor consolidation could rise high during the rest of 2023.
Polygon price appears to be the most promising token in 2023 which may incur huge profits in 2023. The price has been largely bullish despite the FTX debacle slashing most of the crypto price heavily. In the upcoming days, the MATIC price is expected to regain strength and reach beyond $1 very quickly. However, the bears appear to remain a little aloof and hence the bulls could continue rising high in 2023.
Ripple price is the most awaited rally in 2023. The Ripple vs SEC lawsuit is expected to settle during Q1 2023, post to which giant price action is believed to occur. The possibilities of the exchanges relisting the token emerge which may create a FOMO among the market participants. Eventually, the XRP price is believed to regain $1 in a very small time frame and further continue raising high in the coming days.
The Quant price maintained a magnificent rally regardless of the current market trends which were in favor of the bears. However, the FTX collapse hindered the price rally and slashed the price by more than 56% in a very less time frame. Presently, the price has halted the bearish trend and consolidating within a very narrow range, hence, displaying a huge chance of a bullish breakout very soon.
Litecoin is considered one of the most undermined tokens which share almost an equal trading history to Bitcoin. The token began as a lighter version of Bitcoin and as the team behind the project remain passive, the price was also impacted in a similar way. Moreover, when the CEO is back in action now, a healthy upswing may be imminent.
The Polkadot platform is largely known for its strong fundamentals. The diverse blockchain architecture enables the token to stand apart from the crowd. The concept of parachains has been a huge advantage of the platform which may assist the price rally in the coming days. Meanwhile, the price which is trading at the lowest ever possible levels may rise high and resume with a healthy uptrend very soon.
Chainlink which is also called as the Oracle of the networks has just began to ignite a signiifant recovery phase. The spike may be not be at par but the asset appear to be quiet strong enough to undertake a gigantic rally very soon. Meanwhile, the price which is stuck up within a range may soon undergo a notable breakout in the coming days.
The global cryptocurrency market has been in a state of consolidation for some time, with Bitcoin unable to break above $20,000 for the past month. Many altcoins, including Shiba INU, have held steady above their support levels and are anticipating a potential upturn.
However, the current market conditions for Shiba INU are bearish, with the price experiencing significant declines since the beginning of December.
Despite attempting to recover above $0.00001, the bears have managed to hold the resistance at $0.00000935 and keep the price below. While this bearish trend has persisted for several months, extended periods of price compression can often lead to a significant price jump, which could potentially occur in the first quarter of 2023.
The current price of Shiba INU (SHIB) is trading within a falling wedge, which is generally seen as a bullish indicator. Analysts predict that the price could rebound after reaching the lower support level around the yearly lows of $0.00000750, potentially triggering a significant upturn. If this occurs, the SHIB price may break out of the wedge and reach an initial target of $0.00001028 due to strong bullish momentum.
If the bulls are able to hold the price above this crucial resistance level, it is possible that SHIB could see a bullish close for the year 2022.
The previous week has been negative for the majority of cryptocurrencies on the market due to debate around Binance’s proof-of-reserve system. However, Litecoin has taken a big hit and has been struggling recently as it lost 15% of its value during the previous week.
According to crypto expert Michael Van De Poppe, historical price movement indicates that Litecoin is preparing for a massive boom. Even after its last corrective move, the crypto expert says that the altcoin is still positive on the weekly period.
He believes Litecoin is on the rise. It has got some beautiful levels, he says, and pointed out that $63 is undoubtedly a level we should keep an eye on. In the event of a new rally towards $100, he says that one would like to see this level ($63) hold as support and likely see a bounce towards here ($80). After which, it will consolidate and continue making this run.
According to Van de Poppe, LTC Price appears to be replicating its market structure when it bottomed at the end of 2018. According to the crypto expert, Litecoin saw a 28% dip in December of that year before launching a big rise. Poppe believes that Litecoin is in a similar situation and that LTC will continue to rise once the correction is over.
“This is very comparable to what we saw in 2019 in price action as well… We did see this sideways action, breakout, came all the way back, taking the lows, sideways action, breakout.”
On-Chain Data Hints at a Recovery?
A recent BitPay research claims that Litecoin has become a popular choice as a currency for transactions. Leading online stores for electronics, video games, gold, jewelry, and other goods have noticed an increase in Litecoin payments. BitPay has completed more than 180,000 Litecoin payments since the cryptocurrency’s support began in the middle of 2021, totaling more than $30 million in transactions.
The total number of addresses on the Litecoin network has reportedly surpassed 165.5 million, according to Glassnode. Additionally, the network processes about 100,000 transactions every day. In the last two years, the number of transactions per day has increased.
Alternative investments are gaining in popularity as investors look beyond traditional markets for return on investments. With this increased attention comes the opportunity to invest in luxury items like whiskey, wine, or even collectible watches.
However, alternative investments have their own risks and challenges. When investing in these luxury goods, investors may face issues with storage costs, verification, and minimum purchase amounts.
That’s why HedgeUp is here to help make these investments easier and more accessible. With its innovative blockchain technology, you can now invest in luxury watches, whiskey, and wine through secure transactions on the blockchain. Let’s learn more.
HedgeUp is a blockchain-based platform that allows anyone, anyplace, to invest in alternative high-end assets, like luxury watches, whiskey, wine, and even rare diamonds.
The real USP of HedgeUp lies in using fractional NFTs that represent the alternative asset, allowing investors to purchase fractions of high-value assets rather than having to purchase them in full.
That’s right, even if you don’t have a seven-figure bank account, HedgeUp can connect you with alternative investment opportunities to help you grow your wealth. For example, for just $10, you could buy a fraction of the world’s most expensive whiskey or own a piece of a rare vintage watch.
All assets are stored in secure vaults that are licensed and insured. If you decide to purchase the whole NFT/asset, HedgeUp can send the physical asset to your address, allowing you to hold the entire item in your possession.
Plus, all transactions are securely recorded on the blockchain and can be easily tracked – so you’ll always know the exact assets you hold, where they’re stored, and how much they’re worth.
Unlike cryptocurrencies and other volatile assets, investing in alternative items through HedgeUp can provide a more stable and secure return on your investment. It’s also an ideal option for diversifying portfolios and gaining exposure to alternative assets with minimal risk.
The total estimated value of all alternative investments under management is predicted to reach $17.2 trillion by 2025. It means HedgeUp is launching at an ideal time to help investors access alternative investments immediately.
The $HDUP Token
$HDUP is the native token and fuel of the HedgeUp ecosystem. Investors can use $HDUP to purchase and trade fractional NFTs and access goods and services within the platform.
In fact, holding $HDUP gives exclusive access to HedgeUp’s NFT Auctions, rewards for staking, and access to the online master class for alternative investments.
$HDUP is currently gearing up for the public launch of its token on 19th December 2022. This date represents a great chance to get in on the ground floor of $HDUP before it hits the mainstream exchanges.
So, if you’re looking to add a little luxury to your portfolio, HedgeUp is the perfect place to start. With fractional NFTs, secure transactions on the blockchain, and access to alternative investments like whiskey, wine, and watches – you can now literally own a piece of the good life.
There is no denying that Dogecoin has had the best performance in the most recent period. Elon Musk, a contentious businessman who is known to be a fan of the meme coin, had the good fortune to purchase the social media network Twitter.
As a result, Dogecoin has increased by more than 80% during the past week. It had previously been significantly higher, but recent rises in the SEC’s interest rates seem to have contributed to Dogecoin’s recent retracement. Could another meme coin overtake DOGE as the market leader now that it is slowing down a bit? Tora Inu (TORA) appears to be what it might be.
Can the Tora Inu Perform Better?
There is no disputing that meme currencies have had a significant presence in the cryptocurrency market, even if you believe they are not the ideal kind of asset. They are nothing but joke-filled hype trains that foster a strong sense of community. Long-time market leader Dogecoin is no longer the preferred option for investors who want functionality from their meme coins.
Meme coins have not previously served any purpose. However, new concepts have emerged as a result of the development of NFTs, the metaverse, and other technologies. Users can participate in the ecosystem and produce income in a variety of ways thanks to projects.
The project Tora Inu (TORA), which has a good possibility of ousting Dogecoin as we approach 2023, is one of the best examples of this. In addition to having a variety of features that can keep users interested, it also contains distinctive tokenomics that significantly increase the value of the TORA token.
Players can compete with other players’ pets in a play-to-earn game offered by Tora Inu to earn TORA and NFT rewards. Players can engage in multiplayer battles with their pets, and these NFTs can level up to get better stats. Also available for purchase are NFT marketplaces.
Additionally, Tora Inu will feature a metaverse where users can communicate with one another. Land purchases, which have been successful in other metaverses, are another excellent source of income here.
Users will be more intrigued by Tora Inu’s token redistribution and burn mechanisms. Burns occur as network transactions occur, and rewards are dispersed as a result. This results in a decrease in supply, which raises value even more.
The price of TORA increases when additional presale phases are introduced in the ongoing, live presale, which employs an incremental price increase methodology. The Tora Inu beta sale won’t happen until phase 3, and there hasn’t been a private sale either.
The Talk of the Town is Tora Inu
Even before releasing some of its major features, Tora Inu is already establishing itself as one of the most in-demand assets on the market. The metaverse and the debut of the NFT collection are only two things to look forward to in the near future. Due to this, TORA becomes a meme coin to watch as well as a valuable asset in general.
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.
For crypto traders today, finding a cryptocurrency worth investing in is hectic. The collapsing markets with falling crypto prices have caused huge losses for investors. While some investors have shied off from crypto altogether, others are finding new and profitable tokens.
Leading altcoins have generated massive returns for investors. Some projects to keep on your watchlist and eventually buy into are Aptos, Big Eyes, and Oryen. The latter, Oryen, launched barely a month ago. Hence, it offers the highest ROI among the three.
True to this statement, Oryen’s early investors already enjoy at least 110% gains since the presale started.
What is the Oryen Network?
Oryen Network is a DeFi platform that offers high yields to members through staking. The protocol issues a fixed APY of 90% that is highly flexible, with payouts made hourly. So, you can lock up your $ORY and receive payments every hour.
Oryen developers integrate an automated staking tool called the Oryen Autostaking Technic (OAT) to sustain these high-interest payments. This system simplifies staking for participants while deploying complex algorithms to keep a steady flow of revenue and maintain $ORY’s price.
Oryen also features a Risk-Free Value wallet, or RFV for short, a separate wallet on the network. Based on the RFV, the project can automatically adjust the token’s value to maintain a safe value despite market conditions. This feature guarantees the stability of $ORY and makes the token an effective reserve currency to store value.
Apart from offering huge rewards and keeping its token value stable, Oryen also secures users’ assets. The platform conducts regular smart contract audits through SolidProof and leverages the security features built into the BSC. Furthermore, Oryen is community-governed with an anti-whale tax model to keep members in control of the project. This way, each node participates in securing the network against malicious attacks.
ICO Performance of Oryen Network
Oryen protocol started its ICO on September 26, issuing $ORY for $0.05. As of early November, the token’s price has spiked to $0.11 and will top $0.125 when the second presale ends in early December.
Earliest investors have every reason to smile as they enjoy 9% in bonuses. As the token price swells and bonuses shrink, now is the best time to join Oryen and get the deal of a lifetime. Here is a schedule of the ongoing ICO:
|Presale Session||Date||ORY Price||Purchase Bonus|
|Presale 2||02 Nov — 09 Nov||$0.1||10%|
|Presale 3||09 Nov — 16 Nov||$0.11||9%|
|Presale 4||16 Nov — 23 Nov||$0.12||8%|
|Presale 5||23 Nov — 02 Dec||$0.125||7%|
How Does Aptos Work?
Aptos is a secure, upgradeable, and highly scalable blockchain platform. As a Layer1 blockchain solution, Aptos has created a fully-decentralized and upgradable protocol. Its adaptive blockchain allows developers to add improvements and upgrades to its systems seamlessly, enhancing performance.
Aptos is built to make blockchain products easy to use, driving the technology into mainstream applications. The blockchain leverages the Move Language to secure and expedite transactions on the network. This language verifies smart contracts, adding a layer of security to transactions and participants. In addition, the blockchain’s native token, $APT, facilitates all operations on the network.
What is Big Eyes?
Big Eyes is a community token issued as a cat-themed cryptocurrency. Contrasting with the popular dog-themed coins, Big Eyes aims to make it as big as Dogecoin and other popular meme coins.
The project’s token, $BIG, has gained popularity among meme coin lovers, and its presale is largely a success. Big Eyes developers are looking to provide more utility for $BIG through an NFT marketplace, a charity wallet, and a merch store. Overall, Big Eyes is driven by the community for the community.
The Bottom Line
Even in turbulent markets, crypto still has valuable ICO projects to participate in. Aptos and Big Eyes are successful projects, but none match the gains and potential for Oryen. If you’re getting started or would like to diversify your crypto portfolio, experts indicate that $ORY is a must-have.
Learn More Here
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.
The overall crypto market has plunged in a couple of two days as the bears have yet again taken control against the Bulls. The leading cryptocurrency, Bitcoin has lost its crucial $19,200 area, and the second largest cryptocurrency, Ethereum has also dropped below $1,300 along with Chainlink, XRP, Solana, and Cardano among others.
Meanwhile, amidst such pullback, a well-known crypto analyst is predicting a bullish stance towards Ethereum and Chainlink.
The analyst who is anonymously known as Altcoin Sherpa, informs his 184,900 followers over Twitter that Ethereum is at a crucial price trade. But he claims the currency is all set to gain 38%.
He believes Ethereum will surge to trade between $1,600 and $1,800 in the next bull run
Currently, Ethereum is changing hands at $1,297 after a fall of 2.15% over the last 24hrs.
Next, Altcoin Sherpa talks about Chainlink (LINK) where he asserts that LINK will soon move above its current narrow tradeline. He says this move will gain huge profits along with some mid-investments.
At the time of reporting, Chainlink is selling at $6.96 with a drop of 3.10% in the last 24hrs.
On a bearish note, the analyst claims a massive decline of 36% for Avalanche (AVAX) hitting a target of $10. Hence he suggests not buying AVAX for now.
At the moment, Avalanche is selling at $15.52 with a decline of 3.43% over the last 24hrs
Reserve Rights (RSR)
The last currency that the strategist talks about is the Reserve Rights Token (RSR), which was created to support the stability of its stablecoin, Reserve Token (RSV). As per the analyst, RSR is set to move upwards hitting a target of $0.0077.
At the time of publication, RSR has plunged by 6.70% over the last 24hrs and is trading at $0.00636
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The Ethereum-based layer 2 solutions are gaining huge attention in recent times due to the fees
Matic price, in recent times, has leaped beyond the crucial levels while Bitcoin & other altcoins were heavily consolidating. It surged above the resistance at $0.84 and marked the monthly highs at around $0.87. While the asset is appearing to be poised to rise beyond $0.9 to reach pivotal levels at $0.98, surpassing $0.94. By the end of the monthly trade, MATIC’s price is expected to trade above $1.
Loopring also has plunged significantly from the monthly highs a couple of times, forming a bearish double-top pattern. Hence, it appears that the price may undergo a minor pullback to test the local bottoms at around $0.24. Furthermore, the bulls are expected to regain the bullish momentum and propel high to reach $0.28 initially and head towards $3.
OMG Network (OMG)
The OMG network after bouncing from the lows at around $1.46 is maintaining a firm upswing forming constant higher highs & lows. Despite the recent rejection from $1.65, the asset appears to be pretty bullish as it may ignite a firm upswing anytime from now. With an upswing, the price may eventually rise beyond $1.7 to reach $1.72 initially and later at $1.75.
Skale Network (SKALE)
The Skale Network price has declined hard and presently trading at the same levels, it traded a week ago. Hence the price trend is expected to reverse anytime from now which may ignite a rebound at the earliest. With a rebound, the price may eventually reach the local resistance at $0.036 quickly. If the bulls managed to sustain at these levels, a notable upswing may elevate the price beyond $0.04 before the end of October 2022.
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Dogecoin has been a dominating memecoin in the crypto market since its inception in 2013. However, the crypto winter has created turmoil in the price of several cryptocurrencies, resulting in a 91.8% loss in Dogecoin’s all-time high of $0.73.
Dogecoin has been trading in a consolidated area with a bearish momentum since last week. However, it is now getting some positive price action following Elon Musk’s Twitter acquisition proposal.
Dogecoin Price Is Indicating Bullish Reversals Due To Elon Musk!
Dogecoin has been unsuccessful in bringing a ray of positive hope to investors since achieving its all-time high of $0.73 in May 2021. For the last three months, Dogecoin has been aggressively trading in bearish territory, and it looks like the memecoin is facing trouble even to make a breakout to the North.
However, Dogecoin has been witnessing an uptrend since yesterday from a low of $0.05509 due to Elon Musk’s involvement in his favorite cryptocurrency again, as users will be able to buy his newly launched fragrance product, Burnt Hair. According to CoinMarketCap, Dogecoin is currently trading at $0.06031 with a rise of 6.6%.
Dogecoin’s Next Price Action To Watch Out
Dogecoin, inspired by the concept of another popular memecoin, Shiba Inu, started plummeting due to the crypto market trend, which dragged major cryptocurrencies to the bottom of the price graph.
The daily chart of Dogecoin price shows that the Bollinger band’s lower limit is at $0.055, which is a crucial support level. If Dogecoin fails to hold its momentum above this level, it can soon fall to the price of $0.048.
Dogecoin can initiate a mini bullish reversal from $0.048, as indicated by the EMA-20 and EMA-50. According to our Dogecoin price technical analysis, it can again make an attempt to break the immediate resistance level at $0.06266.
The current price action and Elon Musk’s influence can push Dogecoin to $0.065, but it may be short-lived as the RSI-14 is trading below the 50-level, hinting at a price of $0.05 in the next few trading sessions. To invalidate the bearish analysis, Dogecoin needs to trade above $0.065 for the next couple of weeks before initiating a smooth bull run.
However, the current price action may lure investors into buying a significant volume of DOGE and selling later, which can result in a nightmare for Dogecoin’s future price as it can make a breakout on the downside at $0.047 and soon witness a sharp fall to $0.025 with a 42% decline.
The price is expected to worsen following several market factors and the bearish trend of the crypto market. If Dogecoin comes over any negative news and gets impacted, the price can further drop and trade below $0.01. Therefore, it is advised to investors to do their own research and conduct experts’ opinions and investment advice before investing in the current volatility situation.
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The post Top Altcoins To Bet In Q4-2022 For Max Profits, Watch These Entry Levels appeared first on Coinpedia Fintech News
Michal van de Poppe, a well-known cryptocurrency analyst is bullish on these top altcoins predicting massive gains in the coming days.
Binance Coin (BNB) Price Analysis
According to Van de Poppe, who has 630,200 followers on Twitter, the smart contract-enabled blockchain BNB Chain (BNB) is displaying “intensity” and may surge as high as $325, or approximately 14% more than its current price.
- This one is sturdy; it managed to maintain its support for around $265.
- You need to swap $285 in support for completion.
- Consistent growth toward $325 is anticipated.
- At the time of this writing, BNB is trading at $282
Polygon (MATIC) Price Analysis
Van de Poppe says he expects the price of Polygon (MATIC), an Ethereum scaling solution, to rise by around 18% from its current level.
- Analysts anticipate movement toward $1 within the next few days.
- At the time of this writing, the MATIC market cap is $0.85.
Chainlink (LINK) Price Analysis
Chainlink (LINK), a decentralized blockchain oracle network, was the next topic he covered. Van de Poppe predicts a 17% price increase for the coin that ranks twenty-fifth in market cap. At this moment, LINK can be acquired for $7.66.
Regarding Ethereum, Van de Poppe notes that the second-largest cryptocurrency asset by market cap recently converted a resistance level into support and is likely to resume an upward trend that might cause it to increase by as much as 18% from its current price.
- After $1,380, the next objective for this one is $1,600.
- At the time of writing, the price of ether is $1,356.
XRP price has been producing outstanding performance back-to-back for several weeks. The native token of Ripple gains positive momentum as it inches closer to the endline against the SEC (Security and Exchange Commission) lawsuit by small wins. It seems that XRP is all set to make a fresh move upward, but there is some catch!
XRP Bulls Continue To Dominate Amid Lawsuit!
XRP price is surging to the North despite the negative sentiments borne by the Ripple vs SEC lawsuit filed in December 2020. However, it now seems that the Ripple labs is moving a step forward every day, as the case is in favor of XRP.
SEC accused Ripple of distributing and selling its native token XRP which was an unregistered security. However, Ripple dug in and went to the roots to prove the accusations false, now making small wins against the SEC.
Recently in a hearing, the court dismissed SEC’s motion filed against some sensitive documents containing statements made by William Hinman, Ex-Division Director.
The statements were made on Bitcoin (BTC) and Ethereum (ETH) for not being under security. It looks that the court will soon dismiss the case against Ripple, creating a smooth path for XRP’s journey.
XRP Is Set For A 50% Spike This Month
XRP recently broke an important resistance level of $0.5 and is currently trading at $0.5184 with an uptrend of 5.46% from yesterday.
The immediate resistance level is placed at $0.5339, and it looks like XRP is ready to make a positive bounce of 53.4% following the positive progress of Ripple in court.
The technical analysis of the XRP price is also promising as it is forming a ‘cup’ pattern, which can take it to $0.75 by the end of October.
XRP has broken the neckline of the cup at $0.51 with an aim to start a bull run soon. If buyers hear the call and create buying pressure, it can push XRP above $0.8 or even accomplish a short-term goal of $1.
The 50-day SMA (simple moving average) is crossing the 200-day SMA, hinting at a strong bullish rally in the upcoming weeks.
The MACD red line is trying to rise above the blue line, indicating a positive territory for XRP price momentum.
However, on the other hand, the Bollinger band’s lower limit is at $0.485, which is a crucial support level that bulls need to defend.
XRP may retest its price at $0.41 and $0.35 if it breaks the support level, eliminating all the progress it made in a month.
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Altcoins to Watch out For This Week: ATOM, LTC, XRP & XTZ Price May Buckle Up Soon! – Coinpedia – Fintech & Cryptocurreny News Media
The past weekend remained notably bullish for the star crypto as the prices maintained significantly above the gained levels. While the bears attempted to restrict the price to some extent, the bulls held above the support. Therefore, while Bitcoin has maintained some strength, altcoins like Ripple (XRP), Litecoin(LTC), Cosmos(ATOM) & Tezos (XTZ) are closer to showcasing diverse trends soon.
Ripple price is currently appearing bearish but it has manifested a notable rally in the past week. The XRP price rose by more than 15% to reach the monthly highs at around $0.3623. However, the bulls currently appear to have exhausted a bit and hence the prices also remain heavily drained. Regardless of the current trend, the XRP price appears to be primed to hit the target above the monthly highs soon.
The XRP price is consolidating between the crucial support and the resistance levels from the past few hours, waiting for a confirmation of an upcoming trend. Tough competition between the longs & the short trades may have hampered the upswing. However, the bulls are expected to get vigorous in the coming days, escalating the price beyond the resistance at $0.3759 to reach levels around $0.4.
Litecoin, despite the recent price slash, is displaying huge positive momentum by trading with the raising parallel channel. The price held the lower support firmly each time, the bears attempted to break down from these levels. Therefore, maintaining a firm upswing, the LTC price may surge by nearly 15% this week.
The LTC price has undertaken a slight pullback since the early trading hours and reached support at around $60.5. After consolidating for some time around these levels, the price may rebound finely to reach the target at around $70. However, a slight pullback may be expected, but the momentum may be restored towards the north.
Cosmos’ price held the lower support at $11 firmly and pulled a massive leg up to reach the target above $17. However, the bearish interference has currently impacted the price to some extent, which could remain for a short time frame.
Presently, the ATOM price has been under the influence of bulls which may nullify the bearish impact. The price may rebound finely and reach levels beyond $20 very soon. Here, the possibility of rejection may emerge and hence could be an opportunity for the short traders to play it out.
Tezos price after the recent price action has been testing the lower support area for a long, but forming a notable bullish pattern. The bulls are trying hard to clear the neckline but are facing some hindrances. However, the asset appears to be close to a significant breakout that may uplift the price by another 25% soon.
The current trade setup signifies the XTZ price is ready to undergo big breakouts all over the place. Mainly due to the formation of a double bottom structure that aims to break the crucial $2 resistance initially which may lead to a huge upswing beyond $3 soon.