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Tag: Price

  • Solana SOL/USD nears a single-digit price. Here is the price action and what you need to know

    Solana SOL/USD nears a single-digit price. Here is the price action and what you need to know

    Anyone would have thought Solana SOL/USD would trade at a double-digit price, let alone a single-digit one? Unfortunately, that is the reality for the lovers of the once promising cryptocurrency labelled the Ethereum killer. Having hit a high of over $265 in November 2021, the SOL was touted as the next token to reach $1,000. It now trades at a mere $11, exactly one year since its all-time high. The cryptocurrency is yet to find a bottom, with technical indicators pointing to a price below $10.

    While a bear sentiment is to blame for the significant SOL decline, recent woes reflect exposure to collapsed FTX. As CoinJournal reported, Alameda Research has significant holdings of SOL tokens. The exposure has seen Coin Bureau host “Guy” warning his 2.17 million subscribers on YouTube about SOL price.

    The analyst expects the price of SOL to come under further pressure and fall a further 40%. He says that the token will suffer when FTX and Alameda dispose of their holdings in Solana to pay off creditors and other users. He further notes that the SOL situation could be worse, with the cryptocurrencies showing they are yet to bottom. The analyst is projecting an $8 SOL price. A technical outlook shows we could see an even lower price level for the cryptocurrency.

    SOL crashing below an inside-bar pattern is a bear indicator

    SOL/USD Chart by TradingView

    A technical outlook shows SOL bulls losing the battle at $12. The MACD indicator has pushed further into the bear zone. The indicator shows an increasing bear momentum.

    Besides, SOL is initiating a bearish breakout from an inside bar pattern. Once confirmed, by the close of the daily candlestick, we should be ready to embrace a lower SOL price.

    What next for SOL?

    With weak momentum and a bearish inside bar breakout, SOL could likely head to a single-digit price. There is a potential 50% drop to the next likely support at $5. The level coincided with the start of bullish momentum in February 2021.

    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

    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 SOL with Binance today

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  • Bitcoin price prediction: How low can it drop?

    Bitcoin price prediction: How low can it drop?

    Bitcoin price continued consolidating in Monday as a somber mood engulfed the cryptocurrency industry. The coin was trading at $16,760, which was slightly above last week’s low of $15,528. It has plunged by over 22% from its highest level this month, making November a nightmare for the coin.

    Somber mood engulfs the crypto industry

    Bitcoin price remained under intense pressure on Monday as concerns about the crypto industry continue. Recently, the most important crypto news was the collapse of FTX, the second-biggest exchange in the industry after Binance. 

    As a result, many cryptocurrency investors have decided to completely exit the industry altogether. Besides, other well-known and reputable companies like Voyager Digital and Celius have gone bankrupt as well. As such, with FTX gone, there are concerns about which company will be next. 

    Recent data shows that investor have pulled their cryptocurrencies from crypto exchanges like Binance and OKX. Also, Tether’s outflows have risen sharply in the past few days.

    Still, there is a silver lining for Bitcoin prices and other cryptocurrencies. In the evolution of all industries, such busts are common. For example, in the early 1900s, tens of banks were going under every year. That ended after the establishment of the Federal Reserve.

    Meanwhile, the same thing happened the early 2000s when everyone was investing in dot com companies. That ended tragically after the dot com bubble burst, costing investors billions of dollars. Since then, companies like Google, Cisco, and Amazon have thrived.

    Therefore, a silver lining in FTX’s crash is that regulators will move into the sector and set guardrails to protect investors. While more companies are likely to go bankrupt, it is a necessary process for weeding out bad apples.

    Bitcoin price forecast

    Is it safe to buy Bitcoin now? At this moment, the situation is relatively fluid and I suspect that there will be more negative headlines. The coin has crashed below the important resistance level at $18,156, which was the lowest level on October 13.

    Bitcoin has also moved below all moving averages. It also formed a dead cat bounce and a dead cat bounce last Friday. These patterns are usually signs of a continuation. Therefore, the coin will likely continue falling in the near term as sellers attempt to move below the support at $15,000. It will get worse before it gets better.

    The post Bitcoin price prediction: How low can it drop? appeared first on CoinJournal.

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  • Here is what is happening and the potential price action next for Solana (SOL/USD)

    Here is what is happening and the potential price action next for Solana (SOL/USD)

    Solana (SOL/USD) is again flexing its muscles after losing half of its value in two days. On Friday, the cryptocurrency had recovered more than 20%. That ignites hopes that SOL would overcome a potential single-digit price. But how likely is the rally to be sustained? 

    You know that SOL has been falling heavily due to the potential unlocking of coins at the end of Epoch 370. The unlock has since been postponed, which has saved the token from a further decline. The postponing allows a restaking of the tokens, saving about 28.5 million SOL tokens from entering supply.

    Another factor that has helped SOL is a slightly improved crypto sentiment. US inflation data for October showed that prices rose by a below-estimate level. The data fueled a relief rally in cryptocurrencies, and SOL benefited in the process. The news at least bolsters an overall crypto sentiment that had been battered by concerns following the collapse of the FTX exchange.

    Still, SOL is not out of the woods. Data by DeFiLlama shows that activity on the blockchain has been on a downward spiral in the past one week. The total value locked on the blockchain is currently $471.69 million, from $1 billion on November 6. Clearly, the declining TVL could challenge a sustained SOL recovery. 

    SOL price outlook amid a relief rally in a bear market

    Source – TradingView

    SOL’s price outlook shows the token recovering from the oversold level of $11.7. The RSI has moved from the oversold level but remains below the midpoint. A further upside is possible for SOL as the relief rally looks strong.

    Should you buy SOL?

    Solana token will face a litmus test at $28. This is the established long-term resistance that was lost as the price crashed below.

    From a fundamental perspective, it is not wise to buy SOL now. The declining TVL could derail a sustained recovery in the token. For now, investors can enjoy the relief rally up to $28, which must be overcome to make a bullish call.

    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

    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 SOL with Binance today

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  • Bitcoin (BTC/USD) new lower price target set by analysts

    Bitcoin (BTC/USD) new lower price target set by analysts

    What next after Bitcoin (BTC/USD) broke below its long-term psychological level at $19,000? According to a crypto analyst who predicted the 2021 crash, Bitcoin is headed to $13,000. The pseudonymous analyst tells his 618,400 Twitter followers to expect one “last nuke” that could see altcoins also tank by 30-40%.

    It’s not only the popular analyst expecting Bitcoin to plunge. JPMorgan analysts say Bitcoin will reach $13,000 in the wake of Alameda and FTX troubles. The strategists opine that the number of entities with robust balance sheets to cushion those under liquidity crisis is shrinking. The comments come as Binance abandons the projected acquisition of FTX. 

    Bitcoin has particularly been under pressure as investors’ concerns about speculative assets grow. Previously, the collapse of crypto lenders like Voyager and Celsius sparked similar market selloffs. Coupled with macroeconomic woes and high inflation, investors could consider risky assets a bad bet.

    JPMorgan says that a confidence crisis is settling in the market. The analysts say since FTX had previously obtained a green light for the quality of its balance sheet, the fresh troubles hit investors differently.

    BTC on a relief rally after crashing below $19,000

    From the daily chart, BTC is enjoying a relief rally after touching a low of below $16,000. The relief gains come after the US annual inflation rose by 7.7% in October. The rate was below the 7.9% estimates. The below-estimated price gain rekindles discussions that the Federal Reserve may slow down the rate hikes in the future. Will BTC sustain the rally and defy the projected $13,000 price?

    Source – TradingView

    Despite the relief rally, a decline below $19,000 makes a bear case strong for Bitcoin. The current rally may be contained at the resistance if the bear sentiment remains. 

    A likely price action could involve a further price appreciation followed by a sharp sell-off at the $19,000 level. That would open BTC to declines to the $16,000 potential support and the $13,000 analyst estimates.

    When to buy Bitcoin?

    Bitcoin is bearish despite the relief rally. Investors should buy the cryptocurrency after the price settles at suitable support. A breakout above $19,000 could also attract buyers.

    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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  • The Graph token (GRT/USD) price prediction after a 12% jump

    The Graph token (GRT/USD) price prediction after a 12% jump

    The Graph token (GRT/USD) rose by a dozen percentage points on Thursday. The token was among the few gainers on the day after a market drop following the Fed’s rate hike. CoinMarketCap showed a surge in trading volumes, coinciding with the price surge. The gains elicit the question, how sustainable is GRT? 

    The Graph claims to be an indexing protocol. Users can use the platform to query other networks, including Ethereum and IPFS. The protocol allows anyone to create and publish subgraphs, or open APIs, further broadening data decentralisation.

    Alongside the investor interest on Thursday, The Graph was projected to benefit immensely from the Ethereum Merge. However, since the Merge, GRT price has been a beaten-down cryptocurrency. That’s because of the querying function that The Graph provides to Ethereum. Consequently, The Graph has been recognised as key to Ethereum’s scaling plans. 

    The gains in The Graph underline positive expectations the protocol will play in the post-Merge period. Going by the fundamentals, investors could see the Graph as a favourable investment in the PoS ETH era. 

    GRT meets resistance after the intra-day gains

    Source – TradingView

    Technically, The Graph token has met resistance at $0.092. The token is undergoing a correction at the resistance zone. Although it broke past the resistance, a close of the daily candlestick below could invalidate a bullish view. However, the RSI remains above the midpoint, implying buyers are still active on the token.

    What next for GRT?

    The cryptocurrency has to clear the resistance level to consider a buy attractive. We need to wait for the close of the daily candlestick to assess the next price direction. A bullish breakout will allow buyers to target $0.10 and $0.12 next.

    Where to buy GRT

    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 GRT 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 GRT with Bitstamp today

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  • crypto price today: Crypto Price Today: Bitcoin holds $20K; Shiba Inu & Cardano tank up to 5%

    crypto price today: Crypto Price Today: Bitcoin holds $20K; Shiba Inu & Cardano tank up to 5%

    New Delhi: Major crypto tokens slipped on Friday on some profit booking after a strong rally in the last few days.
    Bitcoin was above the $20,000 level, whereas Ethereum managed to hold $1,500. The US economy rose 2.6% in the third quarter, higher than expected growth of 2%.

    Barring the Uniswap and the US dollar-pegged Tether, all othe
    r top crypto tokens were trading lower. Cardano and Shiba Inu plunged 5% each, followed by Ethereum and Polygon, which shed 3% each.

    The global cryptocurrency market cap breached below the $1 trillion mark to $980.18 billion, after dropping more than 2% in the last 24 hours. However, the total trading volume tanked as much as 13% to $89.23 billion.

    What’s cooking in India

    Crypto staking platform UniFarm has entered into a strategic alliance with Bengaluru-based ONMETA. The partnership is aimed at empowering Indian users with Indian currency-based purchase of tokens for staking to earn passive income.

    Expert take

    Edul Patel, CEO and co-founder of Mudrex, said Shiba Inu coin has reached a significant milestone in terms of the percentage of long-term holders. Currently, it jumped to the highest value of 38%.

    “Long-term SHIB holders have grown far more since the beginning of 2022, from barely 1% to over 38% of holders,” he said. “The percentage of short-term holders remains relatively steady and midterm speculators continue to decline,” he added.

    Global Updates

    Hong Kong plans to legalize retail trading of cryptos as it looks to become a crypto hub, according to a Bloomberg report. Crypto platforms will be required to apply for a license to offer retail trading.

    Tech giant Google will be launching a cloud-based node engine for Ethereum projects. The company said its Google Cloud Blockchain Node Engine means that it will be responsible for monitoring node activity and restarting them during outages.

    Nearly 12% of all BEP-20 tokens, the standard token on the BNB chain, are tied to scams, according to recently released research from crypto risk monitoring firm Solidus Labs.

    Tech view by BuyUcoin cryptocurrency exchange

    DOGE surged 35% on Twitter deal. The most popular meme coin, DOGE, has witnessed a mega rally since Monday as Elon Musk’s Twitter deal neared finalization. Elon Musk has been a staunch supporter of DOGE and his tweets often move the prices of meme coins in a significant way.

    The jump in DOGE prices is mainly linked to the positive news circulation but lacks fundamental backing so investors should buy the coin as per their risk appetite with a long-term perspective. DOGE was originally designed as a payment mechanism and its growth will depend on real-world use cases, the experts suggested.

    (Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the asset/s mentioned.)

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  • Best cryptocurrencies to buy as Bitcoin price rebounds

    Best cryptocurrencies to buy as Bitcoin price rebounds

    Cryptocurrency prices have made a strong bullish recovery in the past few days. Bitcoin surged to over $20,000, which was the highest level since early this month. It has risen by more than 13% from the lowest level this month. Here are the best cryptocurrencies to buy as prices bounce back.

    Ethereum

    Ethereum price rose sharply this week. It managed to rise to a high of $1,556, which was the highest level since September 15. It has surged by more than 25% from the lowest point in September. 

    Ethereum is a good cryptocurrency to buy because of its strong correlation with Bitcoin and its strong market share in key industries. For example, it has a strong stake in Decentralized Finance (DeFi) and Non-Fungible Token (NFT).

    Ethereum has another catalyst. The developers are working on the next big update known as Shanghai which is expected to go live in 2023. The upgrade will bring new functionalities in the Ethereum Virtual Machine (EVM). It will also implement staked withdrawals. 

    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

    Cosmos ATOM

    Cosmos is one of the biggest blockchain projects in the world. It makes it possible for developers to build quality interconnectedness applications. Some of the top apps in its ecosystem are Cronos, ThorChain, and Osmosis.

    ATOM price has risen by more than 20% from its lowest point in October. The next key catalyst for Cosmos will be the upcoming launch of the second version of Cosmos. This version will introduce staking in its ecosystem and more functionalities. The most important functionality will be on liquid staking, which will help to secure other platforms.

    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 ATOM with eToro today

    Uphold

    Uphold is a platform which has over 50 cryptocurrencies to choose from.

    It’s users can make crypto trades with a bank account, credit card or crypto debit card. It has variable fees and allows users to automate trades.

    Users who are on Brave’s internet browser can also earn BAT tokens based on their browsing habits.


    Buy ATOM with Uphold today

    Chainlink

    Chainlink is a leading oracle network that makes it possible for developers to bring data from off-chain and on-chain. As such, it is widely used in decentralized finance (DeFi), where it is used by leading platforms like Aave and Uniswap.

    Chainlink price has also risen by double-digits in the past few days as cryptocurrencies and DeFi rebound. Like with Cosmos, Chainlink has a catalyst that could push its price higher. First, its developers are working with Swift, the giant payment network.

    Second, Chainlink price will also react to the upcoming launch of Chainlink 2.0. The new upgrade will change Chainlink into a decentralized oracle network (DON). As a result, it will become possible to power decentralized smart contracts on any blockchain. It will also introduce staking.

    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 LINK 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 LINK with Bitstamp today

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  • Shiba Inu (SHIB) Price Jumps 10% While Burn Rate Spikes – What To Expect

    Shiba Inu (SHIB) Price Jumps 10% While Burn Rate Spikes – What To Expect

    Shiba Inu (SHIB) coin price jumped 10% in the previous three days. Additionally, the Shiba Inu burn rate spiked at 14,267% early on Thursday.

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  • Shiba Inu Burn Rate Skyrockets Over 14,000% As Price Recovers

    Shiba Inu Burn Rate Skyrockets Over 14,000% As Price Recovers

    Shiba Inu (SHIB) recently experienced a sharp increase in burn rate with very few tokens burned. The SHIB Burn tracker shows that over the previous 24 hours, the burn rate of the Shiba Inu increased by 14,267.59%. The increase occurs even though there haven’t been many tokens burned.

    Around 14.07 million tokens were transferred to dead wallets in the last 24 hours, according to SHIB Burn. According to SHIB Burn data, the greatest burn transaction on the previous day was about 9.8 million SHIB. Additionally, the day before, only 97,991 tokens were burned.

    image 25
    Shiba Inu Burn Rate Skyrockets Over 14,000% as Price Recovers 4

    However, the burn rate has cooled down and is currently standing at 1934.01%. 14,896,832 SHIB has been burned in the last 24 hours as per the updated data.

    image 26
    Shiba Inu Burn Rate Skyrockets Over 14,000% as Price Recovers 5

    Shiba Inu price spikes in the last 24 hours

    Shiba Inu has gained traction along with the most recent market rebound. According to statistics from CoinMarketCap, SHIB is currently trading at $0.00001157, up 10.8% over the previous day. The market value of SHIB has also surpassed $6 billion for the first time in the previous 17 days.

    Shiba Inu which was standing at 14th ranking among other cryptos in terms of global market cap lost it to TRX recently and was standing at 15 till yesterday. However, the recent price spike has pushed it to the 13th rank on the basis of the global market cap.

    Whale activity has recently increased in Shiba Inu at a never-before-seen rate. Instead of buying billions of SHIB, whales were purchasing trillions. The whales have also been trading privately and shifting, selling, and buying back SHIB.

    These routine actions are now regularly carried out by some unnamed whales. A whale anonymously transferred 3.3 trillion SHIB to another wallet, according to data from Whale Alert.

    3,367,037,381,943 SHIB have been dumped by an anonymous wallet, according to Whale Alert statistics. The unknown is the precise nature of the transfer. It’s unclear if the transfer represents a genuine sell-off or merely a typical movement of the token between the whale’s wallets.

    The global crypto market cap has finally regained $1 trillion as all the major coins are trading in the green.

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  • Crypto Price Today Live: Bitcoin nears $21K; Shiba Inu & Dogecoin rally up to 15%

    Crypto Price Today Live: Bitcoin nears $21K; Shiba Inu & Dogecoin rally up to 15%

    New Delhi: Crypto market continued to gain on Thursday despite muted earnings from the tech sector. Bitcoin marched towards $21,000 levels, whereas the total market cap of crypto space topped the $1 trillion mark again.
    Most major altcoins were in the green, with a stellar buying interest in the popular meme coins. All eyes were set on the US Fed’s monetary policy meeting, scheduled next week.

    Barring the polygon and the US dollar-pegged Tether, all other top crypto tokens were trading higher. Dogecoin zoomed 15
    %, Shiba Inu was up by over 6% and Ethereum jumped 4%

    The global cryptocurrency market cap hit the $1 trillion mark, after rising up to 3% in the last 24 hours. However, the total trading volume jumped as much as 13% to $102.4 billion.


    Expert take
    Extending the Buoyancy, the global market cap touched $1 trillion after almost a month. The top two cryptos – Bitcoin and Ethereum- also saw some renewed interest, said Prashant Kumar, CEO and Founder, weTrade.
    “Positive momentum around the appointment of UK prime minister Rishi Sunak, global markets along with a hope of a reduced interest rate hike in the US Federal Reserve market next week all played a role,” he added.

    Tech View by Giottus Crypto Platform
    Ethereum (ETH) has turned bullish on the lower time frames. Much of this move can be attributed to the broader market sentiment turning positive after Bitcoin broke through a year-long resistance. ETH has taken this opportunity to rise more than 30% from its recent bottom.
    ETH still needs more confirmations on the higher time frame charts to establish an uptrend. While it has been trading well above its 50-day moving average of $1,380, it will need to clear resistance at $1,700 (its .618 fibonacci retracement between August and now) to continue moving up. Slightly above this at $1,800, it will be able to register a higher high and signal a clear market structure change. Those looking to open long positions may want to therefore adopt a wait and watch approach.

    Chart-ETH (8)ETMarkets.com

    For those with a bullish bias looking to enter, support at $1,500 and $1,440 can offer good opportunities to engage in some buys on dips, the experts suggested. With its daily RSI hitting 70, a minor correction can be reasonably expected in the coming days, or at the very least – some sideways consolidation, they added.

    Global Updates
    Google reported its softest advertising growth in nine years, with company management taking note of softer crypto ad spending as contributing to the weak numbers.

    The decentralized autonomous organization (DAO) behind crypto exchange SushiSwap has approved a legal structuring by an overwhelming majority.

    The flagship crypto fund for venture-capital firm Andreessen Horowitz’s, which is also known as a16z, has cratered by more than 40 per cent in the first half of this year, the Wall Street Journal reported, citing people familiar with the matter.

    The UK National Police Chiefs’ Council (NPCC) has stationed crypto tactical advisers in police departments nationwide to help investigate and seize digital assets tied to crime.

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