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Tag: bullish

  • Polygon (MATIC/USD) jumps 3% on Mastercard partnership. Is it now bullish?

    Polygon (MATIC/USD) jumps 3% on Mastercard partnership. Is it now bullish?

    • Polygon’s MATIC rose more than 3% after its partnership with Mastercard for Web3

    • The network had a range of Web3 partnerships in 2022

    • MATIC still lacks sufficient upside and is vulnerable at $0.77

    Polygon (MATIC/USD), a Layer-2 scaling solution on Ethereum, is showing little signs of stopping in 2023. After the busy year 2022, the network has again inked a partnership with payments giant Mastercard. In the latest cryptocurrency news, Polygon will help Mastercard launch a Web3-focused incubator for artists. Polygon’s native token reacted to the positive development, adding an intraday of 3%.

    According to the announcement, Mastercard’s accelerator program will launch in Spring 2023. It is expected to equip emerging artists – musicians, producers, and DJs with the skills and tools in a digital economy. Artists can build their brands through Web3 and virtual worlds through the program. 

    The partnership earmarks Polygon as a go-to protocol for major brands, governments, and NGOs entering Web3. Polygon Studios CEO Ryan Wyatt says Web3 has the potential to help artists expand their fan base. This is through new mediums of connection and expression that will be possible through the Matercard accelerator program. Other brands courting Polygon for Web3 include Starbucks, Nike, Meta, and the social platform Reddit. The partnerships helped MATIC remain relatively stable compared to peers as the crypto winter ravaged 2022.

    MATIC struggles above the $0.77 support

    MATIC/USD Chart by TradingView

    A technical outlook shows MATIC struggling to recover at the $0.77 support. The cryptocurrency has been consolidating at this support for three weeks. Although the MACD indicator shows momentum has improved, it is still bearish. 

    What is likely next for MATIC?

    The price of MATIC is vulnerable as long as bulls remain weak at the $0.77 support. Although buyers have defended the support successfully for a while, the limited upside is a reason to exercise caution.

    A potential break below $0.77 could heighten bear pressure. In the meantime, consolidation is more likely unless buyers get excited by the latest development and push MATIC higher. 

    Where to buy MATIC

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy MATIC with eToro today

    Binance

    Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

    Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.


    Buy MATIC with Binance today

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  • Ethereum ETH recovering above $1,250. Is this a bullish trigger?

    Ethereum ETH recovering above $1,250. Is this a bullish trigger?

    • Ethereum hovered around the $1,250 resistance on Wednesday

    • Ethereum network surpassed Bitcoin in transaction volumes in 2022

    • Wait for a bullish confirmation before buying ETH

    Ethereum (ETH/USD) is trading at its crucial resistance zone of $1,250 after recovering 3% on Wednesday. This level has proved difficult to crack since plunging below it in mid-Dec. The new year recoveries may keep bulls on alert, although it is still too early to judge how far the price can surge.

    Although 2022 was a difficult year for Ethereum, fans will be delighted by cryptocurrency news on network activity. Data from Ycharts and Nasdaq show that Ethereum topped Bitcoin in transaction volumes last year. The network witnessed 408.5 million transactions, surpassing Bitcoin’s 93.1 million. The higher volatility in Ethereum was connected to events such as NFT launches. Bitcoin, however, retained the crown as the most searched cryptocurrency.

    Data by Bitinfocharts shows that into 2023, transaction volumes are still rising for Ethereum. As of January 2, the count hit 924,614, higher than 229,191 for Bitcoin. 

    Ethereum on a short-term appreciation to the $1,250 resistance

    ETH/USD Chart by TradingView

    A technical outlook shows ETH trading on a short-term trendline initiated from the $1,100 bottom. The cryptocurrency trades with improved buy side volumes, although still not very significant. The MACD indicator is bearish, but momentum has improved slightly. 

    What to watch next for ETH

    Ethereum is a candidate for a bullish breakout at the $1,250 resistance. The bullish candlestick will be watched by the buyers. 

    Conversely, bears could take control of the price at the resistance zone. That could see ETH slide to the short-term ascending trendline. 

    If you are considering buying ETH, it is important to watch for the price to clear $1,250 successfully. As long as the price remains below this level, ETH is vulnerable.

    Where to buy ETH

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy ETH with eToro today

    Bitstamp

    Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

    Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.


    Buy ETH with Bitstamp today

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  • Solana interest grows as price eyes a bullish push after weekly 40% gains

    Solana interest grows as price eyes a bullish push after weekly 40% gains

    • Solana token has gained by almost 40% in a week as network activity surge

    • The weekly gains have been inspired by the Bonk token airdrop

    • SOL faces resistance at $14

    Solana (SOL/USD) is making a strong return after a difficult spell in 2022. Frequent hacks, FTX collapse, and a prolonged crypto winter are some of the ails of Solana in 2022. In particular, the FTX crash saw SOL fall below $10. But a return of nearly 40% in a week is sending a statement that investors are not done with the proclaimed Ethereum killer. 

    According to Solana Foundation head of strategy and communications Austin Federa, SOL is defying the FTX contagion. The network has seen increasing on-chain activity for users and developers. He says no projects are migrating from the blockchain, underlining Solana’s strengths and performance. 

    The latest gains in SOL come amid increased investor interest. That comes after the launch of the Shiba-Inu-themed Bonk (BONK) token. According to the latest cryptocurrency news, BONK will be airdropped for up to 50% of its supply. About 20% of the airdrop will go to Solana NFT collections. The development has seen several projects on Solana integrate bonk tokens for use in transactions on listed NFTs. 

    SOL price outlook and analysis approaching resistance

    SOL/USD Chart by TradingView

    From the technical outlook, SOL is slightly bullish but largely bearish. The indicator is approaching the neutral zone, although it shows SOL is bearish. Resistance lies at $14, slightly below the SOL price. 

    What next for the SOL price?

    The gains in SOL price are positive after a prolonged bear market. However, $14 will be a test for bulls. A bullish scenario will be reinforced if the cryptocurrency breaks above the resistance level. That could see SOL maintain the uptrend to $18 and beyond.

    On the flip side, SOL will face bears at $14. Buyers may also exit at the overhead resistance to force a correction. That could see the token retest the $11 or $10 bottom.

    Where to buy SOL

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy SOL with eToro today

    Public

    Public is an investing platform that allows you to invest stocks, ETFs, crypto, and alternative assets like fine art and collectibles—all in one place.


    Buy SOL with Public today

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  • Bitcoin is edging closer to $17k as bullish sentiment grows stronger

    Bitcoin is edging closer to $17k as bullish sentiment grows stronger

    • The crypto market is trading in the green zone for the second-consecutive day this week.

    • Bitcoin is closing in on the $17k resistance level and could cross it a few hours from now.

    • The total crypto market cap is now close to $815 billion.

    Bitcoin closes in on the $17k level

    Bitcoin, the world’s leading cryptocurrency by market cap, has been performing positively for the second-consecutive day. The leading cryptocurrency has been struggling below the $17k resistance level over the past few weeks. 

    At press time, the price of Bitcoin stands at $16,886, up by less than 1% in the last 24 hours. With the bulls gathering momentum, Bitcoin could soon surge past the $17k resistance level in the near term.

    Bitcoin’s positive performance aligns with that of the broader cryptocurrency market. The total crypto market cap stands at $813 billion, up by 0.36% in the last 24 hours. The positive performance comes after the market lost less than 1% of its value yesterday.

    Ether, the second-largest cryptocurrency by market cap, is also trading in the green zone. So far today, the price of Ethereum is up by 0.26% and currently stands at $1,223. 

    Key levels to watch

    The BTC/USD 4-hour chart has turned bullish as Bitcoin has been performing well over the last few days. The technical indicators show that Bitcoin could be preparing for a breakout in the near term.

    The MACD line crossed into the positive zone a few hours ago, a sign that the bulls are currently in control of the Bitcoin market. The 14-day RSI of 51 also shows that Bitcoin is neutral but could head into the overbought region if it embarks on a rally.

    If the bullish trend grows stronger, BTC could move past the first major resistance level at $17,178 before the end of the day.

    However, Bitcoin would need the support of the broader crypto market to rally toward the $17,982 resistance level over the coming days. 

    Where to buy Bitcoin now

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy BTC with eToro today

    Bitstamp

    Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

    Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.


    Buy BTC with Bitstamp today

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  • Bitcoin struggles but Okcoin CEO thinks 3 catalysts will make it bullish

    Bitcoin struggles but Okcoin CEO thinks 3 catalysts will make it bullish

    • Bitcoin has steadied above $16,000

    • Okcoin CEO expects Bitcoin’s bear market to be driven by key developments

    • The cryptocurrency could come under pressure after falling below moving averages

    No Santa Claus rally for Bitcoin (BTC/USD) lovers? This is the clearest sign as the BTC price crashed below the moving averages. Despite bulls successfully defending $16,000, Bitcoin is far away from a bullish market. However, the CEO of the crypto exchange Okcoin is throwing insights on what to look at for a bullish Bitcoin movement.

    Hong Fang opines that the need for strong monetary systems would drive Bitcoin and crypto. According to the Okcoin CEO, the failures and shortcomings of the existing centralised currency systems could spur bullish markets. Already, a few countries are testing their monetary systems with Bitcoin and crypto. The notable ones in this pack are El Salvador and the Central African Republic. Will more countries join? Fang thinks so.

    The second event is the Bitcoin halving event in 2024. Fang wonders whether it is coincidental that past halving events have been associated with bullish crypto markets. In this regard, he expects the next cycle to be associated with a bullish market for Bitcoin. 

    Then there is the final and third bullish trigger – use cases. The CEO says a lot of projects continue to be created in crypto in a bear market. He expects the projects being created right now to be the next trigger of the bull cycle. 

    From Okcoin CEO’s thoughts, it is clear that he refers to the BTC’s long-term focus. However, a technical outlook paints a different picture of the short term. 

    BTC price outlook and analysis

    BTC/USD Chart by TradingView

    A technical outlook shows Bitcoin struggling after a slight descent. The moving averages are providing resistance to the BTC price. The RSI remains below the midpoint.

    Is BTC set to touch lower prices?

    Bitcoin lacks a directional movement. $16,000 is the price to watch, although the cryptocurrency has stabilised at this level. On the bullish side, $19,000 is the price ceiling. A recovery above could welcome further gains.

    Where to buy BTC

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy BTC with eToro today

    Bitstamp

    Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

    Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.


    Buy BTC with Bitstamp today

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  • Is PancakeSwap (CAKE/USD) bullish market over?

    Is PancakeSwap (CAKE/USD) bullish market over?

    • PancakeSwap was bullish up to November, doubling in price

    • PancakeSwap token has been weighed by the risk contingencies of the FTX sage

    • The cryptocurrency remains on a downtrend and risks a lower low

    It seems that PancakeSwap (CAKE/USD) will have to end 2022 on a low note. CAKE was among a handful of cryptocurrencies that looked strong in the face of a bear market. However, it couldn’t last beyond November. The aftermath of the FTX collapse has taken a toll on the cryptocurrency. Why has this so yet tokens of decentralised exchange or DEX surged post-FTX saga?

    The decline in CAKE happens potentially due to its connection with Binance. The cryptocurrency is based on the Binance Smart Chain. Thus, the confidence crisis facing centralised exchanges, including Binance, may have infiltrated PancakeSwap. It does not necessarily mean that is the case, though, as the bear market is also ravaging crypto markets.

    With CAKE touching a crucial resistance at $5.0 in early November, investors could have exited positions. That, of course, was inspired by the FTX collapse that sent most crypto tokens tumbling. Investors would not have risked the profits they had made since CAKE had already doubled in value since the June lows. Based on these, CAKE’s bullish market is over, at least in the meantime. 

    CAKE’s technical outlook is bearish as price retests resistance

    CAKE/USD Chart by TradingView

    A technical outlook shows CAKE retesting a resistance at $3.5. The price has stalled since touching the level, suggesting a possibility of a correction to the downside. 

    The MACD indicator is very bearish for cryptocurrency. The RSI reading has slightly improved since touching oversold conditions as the CAKE price fell to $3.1. The reading remains below the midpoint, indicating that bears are in control.

    What is the likely next price of CAKE?

    CAKE price will stay bearish unless bulls recover above the $3.5 level. The next potential price level for the cryptocurrency lies at $2.8 and $2.6. Investors should keep off until the bearish movement subsides and should buy CAKE on a bullish reversal confirmation.

    Where to buy CAKE

    Binance

    Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

    Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.


    Buy CAKE with Binance today

    Swapzone

    Swapzone is a crypto exchange aggregator that operates as a gateway between the cryptocurrency community and exchange services. Swapzone aims to provide a convenient interface, safe user flow, and crystal-clear data for users to find the best exchange rates among the whole cryptocurrency market.


    Buy CAKE with Swapzone today

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  • Floki Inu is the Most Bullish BNBChain Project in last 24h

    Floki Inu is the Most Bullish BNBChain Project in last 24h

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  • Shiba Inu is the Most Bullish Sentiment ERC20 Token

    Shiba Inu is the Most Bullish Sentiment ERC20 Token

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  • Floki Inu is the TOP BNBCHAIN Project with Highest Bullish Sentiment

    Floki Inu is the TOP BNBCHAIN Project with Highest Bullish Sentiment

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  • The Sandbox (SAND) adds a weekly 14%. Is the cryptocurrency now bullish?

    The Sandbox (SAND) adds a weekly 14%. Is the cryptocurrency now bullish?

    • The Sandbox token gained an intraday 7% and 14% in a week

    • The cryptocurrency has been hit hard by a slowdown in metaverse activity

    • SAND faces rejection at the descending trendline

    The Sandbox price (SAND) rose by more than 7% on Monday, extending the weekly gains to nearly 14%. The recovery came amid a prolonged bear market and limited activity in the metaverse. But how far can the Sandbox token sustain the recovery?

    SAND trades at $0.62, a significant drop from its all-time high of $8.5 in November 2021. The decline has been fueled by a prolonged crypto development and a slowdown in metaverse activity. As the crypto sector recovers and more firms enter the nascent virtuality reality space, SAND will be back to a rally. But that is in the longer term. The short-term shows that the Sandbox token could continue rising, but bulls will face a major test at the descending trendline.

    SAND price analysis and outlook as momentum improves

    From the chart below, SAND has been trading on a system of lower lows and lower highs. That has resulted in the formation of a descending trendline. 

    SAND/USD Chart by TradingView

    The RSI has shifted above the midpoint for the first time since November 9. A bullish MACD crossover was initiated recently, in line with the improving momentum. However, the MACD remains below the neutral point.

    What next for SAND?

    The short-term rally in the Sandbox token is likely to be sustained in the short term. To confirm a sustained surge, the token must overcome the descending trendline. If considering buying SAND now, beware of a potential rejection at or near the descending trendline.

    On the flipside, if SAND rises above the descending trendline, the next potential level to watch would be $0.93. 

    Where to buy SAND

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy SAND with eToro today

    Bitstamp

    Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

    Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.


    Buy SAND with Bitstamp today

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