Tag: recovery

  • What next for Avantis price after the 73% recovery?

    What next for Avantis price after the 73% recovery?

    What next for Avantis price after the 73% recovery?

    • Avantis whale activity remains weak despite strong short-term price gains.
    • Technical breakout hints at reversal, but confirmation needs $1.00 break.
    • TVL surge and new listings boost adoption amid rising volatility.

    After a steep correction that erased much of its September gains, the Avantis price has staged an impressive rebound, rising 73% over the past week and 31.9% in the last 24 hours.

    The AVNT token is now trading around $0.86, still nearly 59% below its September peak of $2.66.

    While the recovery has rekindled investor optimism, the question remains — can this rally hold, or is it merely a temporary reprieve in a larger downtrend?

    Whales are still on the sidelines

    Despite the sharp recovery, large investors appear hesitant to jump back in.

    On the daily chart, the Chaikin Money Flow (CMF), a key indicator of whale participation, remains below zero, showing that major wallets are not yet accumulating AVNT.

    Avantis price chart
    Source: TradingView

    Historically, the Avantis price has moved in tandem with whale inflows; its September surge to an all-time high coincided with CMF turning positive.

    Since the indicator slipped below zero on September 26, the market has seen sustained selling pressure.

    While CMF has slightly improved in recent sessions, the momentum is weak.

    The lack of significant whale support casts doubt on the rally’s durability.

    For a genuine reversal to take hold, CMF needs to cross decisively into positive territory, confirming renewed institutional confidence.

    Technical patterns hint at a possible shift

    From a technical standpoint, Avantis appears to be trying to flip its bearish script.

    The token recently broke out of a falling wedge pattern on the 12-hour chart, a formation often associated with a trend reversal.

    The Relative Strength Index (RSI) sits at 52.1, and the MACD histogram has turned slightly positive at +0.0088 — both signs of growing bullish momentum.

    However, beneath these signals lies a warning.

    Between October 10 and 21, the Avantis chart formed a hidden bearish divergence, where prices made lower highs while RSI posted higher highs.

    This pattern can foreshadow weakening upside pressure.

    A close above $1.00 would invalidate this bearish setup, confirming stronger buying interest.

    Until then, traders remain cautious, especially with key support anchored around $0.57.

    Rising TVL and platform growth fuel optimism

    Fundamentally, Avantis’ ecosystem continues to show progress.

    The project’s Total Value Locked (TVL) recently surpassed $111 million, up more than 430% in a month.

    Much of this growth stems from its synthetic asset trading platform on Base Chain, which has attracted new liquidity and users.

    The development of composable yield products is also boosting engagement, as AVNT’s staking and governance features tie directly to network revenue.

    This rise in TVL not only reflects increasing adoption but also suggests stronger underlying demand for the AVNT token.

    The platform’s expansion reinforces its long-term utility case, even as short-term market sentiment fluctuates.

    Exchange listings have added liquidity — but also volatility

    AVNT’s recent listings on Binance, Upbit, and Coinbase have dramatically increased liquidity, with daily trading volume now exceeding $307 million — roughly 2.4 times its market capitalisation.

    Such high turnover indicates speculative enthusiasm, but it also underscores the market’s instability.

    Following the listings in September, AVNT soared by nearly 400% before correcting by 60% in the weeks that followed.

    The current rebound, though encouraging, remains fragile unless sustained by organic demand rather than short-term trading.

    Avantis price outlook

    In the short term, all eyes are on whether the Avantis price can maintain momentum above the $1.00 resistance.

    Breaking this level would signal the start of a broader trend reversal and could open the path toward $1.32 and potentially $2.66 — the previous all-time high.

    Failure to hold above $0.57, however, could invite renewed selling and a retest of lower levels near $0.46.

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  • AAVE daily fees skyrocket 200%, signaling lending market recovery

    AAVE daily fees skyrocket 200%, signaling lending market recovery

    AAVE daily fees skyrocket 200%, signaling lending market recovery

    • Aave’s daily fees increased by around 200% within the last three months.
    • They hit multi-month peaks of over $3 million per day, indicating intensified borrowing.
    • The surge reflects reinvigorated DeFi lending interest.

    Aave continues to dominate the DeFi lending market, this time attracting attention with serious figures.

    CoinGecko data shows daily fees on the blockchain have increased by more than 200% since May.

    That signals amplified on-chain activity and soaring demand for decentralised liquidity.

    Most importantly, the statistics signal DeFi borrowing resurgences.

    The chart shows AAVE’s 24-hour fees were below $1.2 million in early May.

    It had surpassed 43 million as of the end of July, printing multi-month highs.

    Revenue saw a modest gain (still below $500K) compared to collected fees, but the increase reflected enriched platform profitability.

    Furthermore, the chart reflects significant dips and spikes in fee activity, which indicates healthy volatility.

    Such fluctuations suggest an active lending market with healthy utilisation, and not instability.

    Meanwhile, daily fees are the revenue engine for Aave.

    The prevailing trend signals emerging resurgences for the protocol that saw flattened activity early in the year.

    What’s driving Aave fees?

    Borrowing demand is at the centre of the surging daily fees in the ecosystem.

    Individuals pay interest whenever they borrow on Aave, and these payments account for the highest portion of the daily fees.

    Fee income increases when more users take loans, possibly to chase price actions or leverage yield opportunities.

    Also, the latest integrations have propelled fees.

    For instance, users have deployed more than $60 million into yield-generating opportunities via MetaMask’s Aave-powered Stablecoin Earn feature.

    Such streamlined plug-ins make it smooth for retailers to access lending markets, enriching demand for AAVE’s liquidity pools.

    Moreover, the latest stable Ethereum price actions have encouraged users to (directly) interact with dApps again.

    ETH has performed well over the past few sessions, even driving the “altcoin season” narrative.

    Fees and protocol activity have surged as participants borrow assets, including stablecoins, from Aave.

    AAVE price outlook

    The native token reflected the increase in on-chain activity with notable gains.

    It has gained approximately 60% since May 1 to press time levels of $263.

    That makes it one of the top-performing DeFi assets this cycle – a notable feat, as meme coins, L2s, and centralized narratives dominate the trends.

    Meanwhile, the rising fees will possibly boost revenue in the upcoming sessions.

    That would bolster sentiments around Aave and its native coin.

    Continued borrowing activities will likely help the protocol cement its status in the DeFi lending landscape, which would bolster AAVE’s utility and price gains.

    Analyst CW predicts short-term recoveries for the altcoin.

    He highlighted that AAVE’s nearest resistance zone is at $325, a nearly 25% increase from the market price.

    Also, experts remain optimistic about AAVE’s performance.

    For example, the BitMEX co-founder recently purchased significant amounts of the token via over-the-counter.



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  • Dogecoin faces $500 million liquidation test as price eyes $0.2 recovery

    Dogecoin faces $500 million liquidation test as price eyes $0.2 recovery

    Dogecoin faces $500 million liquidation test as price eyes $0.2 recovery

    • Ichimoku and RSI indicators show no bullish momentum.
    • The coming days could determine whether DOGE stages a recovery or slides into a deeper correction.
    • DOGE lags behind Bitcoin and Ethereum amid broader altcoin pullback.

    Dogecoin is navigating a volatile phase as its price hovers just above key support levels.

    After hitting a local high near $0.2, DOGE has trended downward, raising fresh doubts about the memecoin’s strength in the current market.

    While leading cryptocurrencies like Bitcoin and Ethereum continue to consolidate, Dogecoin has struggled to maintain momentum.

    The asset risks erasing nearly all gains from the past 30 days unless it can break through critical technical barriers and absorb significant short liquidations, estimated to exceed $500 million.

    The coming days could determine whether DOGE stages a recovery or slides into a deeper correction.

    $0.165 zone is critical

    The Dogecoin price has hovered near a key liquidation zone at $0.165, where leverage from traders has accumulated above $500 million. This threshold is seen as a pivotal point for a potential short squeeze.

    Source: CoinMarketCap

    To break higher, the price may need to dip below this level to trigger liquidations, potentially forcing out short positions.

    Such a move could clear the way for a stronger rebound and extend the upward trend.

    This could allow bulls to target a return to $0.18 and eventually retest $0.2.

    Technical signals remain weak

    Technically, Dogecoin’s outlook remains weak. After failing to stay above its ascending trend line, DOGE has experienced sustained downward pressure.

    The Ichimoku cloud’s conversion line is acting as stiff resistance, and there’s no indication yet of a bullish crossover.

    Meanwhile, the Stochastic RSI has reversed after testing average levels, underscoring the growing influence of bearish sentiment.

    DOGE is expected to test support at $0.162, a level below the $0.164 liquidation zone.

    However, failure to hold this support could deepen the drawdown and prompt traders to reassess the memecoin’s long-term viability.

    $0.2 in 2025?

    While Dogecoin reached as high as $0.2 earlier this year, the question now is whether it can sustain such levels or rise further in 2025.

    For this to happen, the token must establish consistent upward momentum, clear resistance levels, and attract renewed investor interest.

    This appears challenging given its current technical weakness and absence of strong bullish signals.

    Still, market volatility could favour sharp movements in either direction. If the expected short squeeze plays out after testing $0.162 support, DOGE may rally back towards $0.18 and $0.2.

    But unless broader market conditions improve and sentiment shifts decisively, reaching the $0.5 mark in 2025 appears increasingly unlikely based on current data.

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  • Worldcoin (WLD) and Bitcoin Dogs (0DOG) drive crypto surge amid market recovery

    Worldcoin (WLD) and Bitcoin Dogs (0DOG) drive crypto surge amid market recovery

    • Worldcoin’s (WLD) price surged 192% in 7 days
    • Worldcoin’s “World App” wallet hit 1 million daily active users amid regulatory challenges.
    • Bitcoin Dogs presale collects over $2.2 million in five days.

    In the wake of Bitcoin’s recent resurgence, the cryptocurrency market has witnessed a compelling comeback, with Ethereum and altcoins following suit, with Worldcoin (WLD) and Bitcoin Dogs (0DOG) at the forefront.

    Worldcoin (WLD), the brainchild of OpenAI CEO Sam Altman, experienced a staggering 192% surge in just seven days while Bitcoin Dogs, which entered the market a few days ago, caused waves with the first-ever BRC-20 ICO on Bitcoin blockchain.

    Worldcoin (WLD): 192% surge in a week

    The 192% Worldcoin (WLD) price surge has caught the attention of crypto investors, especially following the challenges that the Worldcoin project has faced in the recent past. The WLD currently trading at $7.32 hit an all-time high of $7.52 on February 19 following a week-long rally.

    Worldcoin price chart

     

    This WLD price surge coincided with a significant achievement for the Worldcoin project, as its crypto wallet app, the “World App,” surpassed 1 million daily active users. There has also been an overwhelming whale accumulation, with a massive 2.09 million WLD tokens acquired from Binance. Alameda Research’s significant holding of 25 million WLD tokens and the unveiling of Sora, a text-to-video platform by Sam Altman, further contribute to the optimism around Worldcoin’s growth.

    Launched in July 2023 by Sam Altman and Alex Blania, Worldcoin stands as a “privacy-preserving” digital identity verification initiative, rewarding users with WLD for iris scans.

    Interestingly, this remarkable growth comes at the backdrop of regulatory challenges including Hong Kong’s Office of the Privacy Commissioner for Personal Data (PCPD) initiating an investigation into the project due to “serious risks to personal data privacy.” Reports suggest inspections were conducted at Worldcoin locations in Hong Kong. Previously, global regulatory concerns led to service suspensions in Kenya and a temporary halt to iris scans in India.

    Bitcoin Dogs (0DOG): innovation meets canine craze

    As Worldcoin catches the attention of crypto investors eager to invest in AI-based cryptocurrencies, Bitcoin Dogs, a new cryptocurrency project using Bitcoin’s BRC-20 standards has jumped into the market, with ICO that has attracted quite some interest from investors.

    Bitcoin Dogs introduces a unique blend of cryptocurrency and canine enthusiasm with its native token, 0DOG. Aiming to be the first ICO on the Bitcoin blockchain, Bitcoin Dogs provides a playground for dog lovers and crypto enthusiasts to trade, collect, and engage in a barking-good time. The project’s innovative approach combines the loyalty and playfulness of dogs with the exciting world of blockchain technology.

    The platform offers diverse features, including a feeding system influencing virtual dog appetite levels, social interactions affecting user influence, and Player versus Player (PvP) challenges like Duel Races with a betting system. Additionally, the 10k Ordinals NFT Club caters to both casual admirers and dedicated Doga devotees, allowing users to parade, collect, and trade digital assets related to dogs.

    Bitcoin Dogs (0DOG) token presale

    Bitcoin Dogs launched a groundbreaking token presale, the first of its kind on the Bitcoin blockchain, five days ago and so far the presale has raised $2,266,645.66 pointing to the attention it has captured from the crypto community.

    Investors are flocking to the ICO with the price of the 0DOG token set to increase from the current $0.0173 to $0.0198 in the next stage. To participate, interested persons can visit the bitcoindogs.club website to purchase their share of the 0DOG tokens.

    The presale, set to last 30 days, features staged price increases every three days, fostering urgency for potential investors. The platform also boasts a unique approach, burning unsold tokens after 30 days, potentially increasing value for token holders.

    Conclusion

    Worldcoin’s remarkable growth and Bitcoin Dogs’ presale both represent opportunities for investors looking to diversify their crypto portfolios.

    Nevertheless, the crypto landscape remains dynamic and evolving, requiring careful consideration and due diligence from those eager to embark on this exhilarating journey.

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  • Bitcoin, stocks eye recovery after ECB news jolts markets

    Bitcoin, stocks eye recovery after ECB news jolts markets

    • Bitcoin retested the $25,000 area, while S&P 500 had gained about 1% after plunging on ECB interest rate hike news.
    • The ECB on Thursday surprised with a 50 basis point rate hike.
    • Reports that JPMorgan and Morgan Stanley are looking to help First Republic Bank buoyed stocks.

    Bitcoin and stocks have recovered slightly after trading lower as investors reacted to the latest monetary policy news from the European Central Bank (ECB.)

    On Thursday, markets were digesting recent events around US banks and the possible ramifications to the Federal Reserve’s next move on its rate hikes when the ECB announced a surprise 50 basis points interest rate hike. Stocks reacted lower and so did the crypto market, with crypto analyst Michael van de Poppe suggesting the Fed could follow suit at its meeting next week. 

    S&P 500, Bitcoin recover after ECB news

    The S&P 500 staged a slight recovery, thanks to the resurgence of regional bank shares.

    Despite trading down 0.7% at one point, the benchmark index was up 1% at 12:20 pm ET, while the Dow Jones Industrial Average that had initially plunged by more than 300 points, reversed and was hugging gains with just over 100 points, or 0.3% higher. Elsewhere, the Nasdaq Composite was up by 1.5%.

    While US stocks have rebounded higher amid reports that banking giants JPMorgan and Morgan Stanley were coming to the aid of embattled lender First Republic Bank, concerns remain and investors continue to be cautious. 

    Bitcoin toyed with resistance around $25,000 on Thursday as cryptocurrencies continued to track events around the stock market.

    The flagship cryptocurrency, which traded lower earlier in the day amid the highlighted broader market downswing, showed it’s still highly correlated to equities despite last week’s spike that had some observers suggesting a rising decorrelation.

    Indeed, as CoinJournal analyst Dan Ashmore argues in our deep dive published today, Bitcoin could eventually decouple from other risk assets. However, that’s an outlook that mostly doesn’t apply to the current trading scenario, with the two assets largely in lockstep.



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  • Bitcoin price recovery at risk amid new Credit Suisse crisis

    Bitcoin price recovery at risk amid new Credit Suisse crisis

    • Bitcoin and other financial assets now have a Credit Suisse problem.

    • Credit Suisse credit default swaps signal that the company could collapse.

    • Credit Suisse stock price plunged by 20% and reached a record low.

    Bitcoin price came under intense pressure on Wednesday as the banking sector came under a significant strain. BTC pulled back from the year-to-date high of $26,548, to a low of $24,526. It has retreated by ~7.8% from its highest point this week.

    Credit Suisse crisis deepens

    Bitcoin price has been in a strong bullish trend in the past few days as investors reacted to the ongoing performance in the banking sector. After falling to a low of $19,500 last week, the coin made a spectacular recovery as it jumped to a high of $26,548. 

    This rally happened after America’s regulators decided to bailout key banks like Silicon Valley Bank (SVB) and Signature Bank. They decided to provide a backstop for their depositors, many of whom were companies in the crypto industry, as we wrote here.

    The most important part of the bailout was the fact that it saved USD Coin, the second-biggest stablecoin in the world. Circle, the parent company of USDC, had over $3.3 billion deposited in the company. If it had failed, the ripple effect on the crypto industry would have been dire.

    Now, it seems like we have another bank crisis. Credit Suisse stock price plunged by more than 20% after the company lost confidence of another key investor. Earlier this month, the company’s biggest shareholder, Harris Associates, decided to sell its entire stake. 

    And on Wednesday, Saudi National Bank said that it will not provide more finance to the company. Therefore, there are significant risks that the company will fall. Indeed, its credit default swaps have risen, signaling that investors expect the bank to fall.

    A collapse of Credit Suisse would have some positives for Bitcoin prices. For one, it will lead to a pause in interest rate hikes by the Fed and other central banks.

    Bitcoin price forecast

    The BTC/USD price soared to a high of 26,548 on Tuesday and then pulled back to a low of 24,102. As it dropped, BTC moved below the key support level at 25,275, the highest point in February. On a positive note, the pair’s 50-day and 100-day moving averages have formed a bullish crossover. The coin has also formed what looks like a small head and shoulders pattern. 

    Therefore, I suspect that it will continue falling in the next key support at $23,000. A move above the key resistance point at 25,275 will invalidate the bearish view.

    How to buy Bitcoin

    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.


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    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.


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  • Bullish Bitcoin Price Indicates Crypto Market Recovery

    Bullish Bitcoin Price Indicates Crypto Market Recovery

    With Bitcoin’s price making a resurgence, investors are gearing up for a bull market in 2023. Crypto signal providers are seeing renewed interest thanks to their ability to save investors time and money by pinpointing the best entries. Many savvy traders continue to recommend AltSignals as the go-to platform.

    Thanks to its sterling reputation, AltSignals’ recently announced ASI token presale is expected to be huge. In this article, you’ll find out why AltSignals is so highly regarded and why its ASI token could elevate the online trading experience for investors all across the globe. 

    Bitcoin Price Revitalized, Prompting Investors To Check Out AltSignals

    It seems like a risk-on mood is back in the markets. With the Fed expected to slow down or reverse interest rate hikes this year, investors have been loading up on crypto before the next bull cycle begins. 

    Since the start of 2023, Bitcoin’s price has risen almost 47% from around $16,500 to a high of approximately $24,250 in early February. This rapid ascension in Bitcoin’s price has accompanied a surge in interest in online trading, leading many investors to start looking for the best crypto signal providers to boost their profits. One name that has regularly cropped up is AltSignals. 

    What Is AltSignals?

    AltSignals is a leading name in the crypto signals industry, established in 2017. It uses a team of market experts and professional traders to combine technical and fundamental analysis with its in-house algorithm, AltAlgo™. As a result, AltSignals has earned a reputation as one of the most reliable and profitable signal providers out there. 

    This reputation is quickly validated when looking over their stats. Over 52,000 traders rely on the 3,700 trade calls it has produced since its launch, with the platform holding a 4.9/5 rating on Trustpilot after receiving nearly 500 positive reviews. The actual trading results speak for themselves: AltSignals has returned over 10,000% in 19 out of 32 months on record.

    AltSignals’ ASI token is projected to attract a new wave of attention to the AltSignals platform. This is due to the excellent benefits ASI will offer holders that will help them make the most out of their online trading journey. 

    How Is ASI Expected To Change the Online Trading Game?

    ASI is an Ethereum-based token that will act as the fuel for the AltSignals ecosystem. Its primary use case will be to access and receive signals from the upcoming ActualizeAI algorithm. This algorithm will boost AltSignals’ accuracy further thanks to a comprehensive AI stack, which includes machine learning, predictive modelling, and sentiment analysis. For ASI holders, they’ll be the first in line to experience the power of this new algorithm. 

    Holding ASI will also grant exclusive entry into the ActualizeAI Club, where users can play an active role in giving feedback and helping to test the ActualizeAI algorithm in return for early access to the latest upgrades and earning ASI tokens. In the process, they’ll work directly with the AltSignals team to improve their products and optimize the signals produced. 

    ASI will become the platform’s governance token, allowing users to vote on new upgrades, partnerships, and more. They’ll also be able to set the token’s buyback and burn rate, which will help to restrict the supply of ASI over several years and potentially lead to price appreciation.

    The Long-Term Outlook for ASI

    The ASI token is predicted to see exceptionally high demand, with many projecting that the ASI presale will sell out rapidly. Traders are expected to flock to the token when they find out it grants access to the ActualizeAI algorithm and Club.

    This group alone could easily send ASI skyrocketing as traders rush to become part of an elite group dedicated to building one of the greatest trading algorithms the world has ever seen.  This spirit of collaboration and mutual support will set AltSignals apart from other signal providers and is set to be a major contributing factor in the success of the ASI token.

    Consequently, several analysts predict that ASI will climb well beyond its final presale price of $0.02274, with some forecasting that $0.50 is easily achievable by the end of 2023. If $0.50 is reached, investors could be up almost 2,100% in just under a year – far beyond what any Bitcoin price prediction could hope to attain. 

    Should You Invest in ASI?

    As Bitcoin’s price continues to grow and the bull market heats up, AltSignals will likely see a massive surge in interest. Thanks to the ActualizeAI algorithm and the platform’s proven reputation, its ASI token will likely be one of the lucky few that return life-changing gains in 2023. 

    The beta sale price of $0.012 seems exceptionally undervalued, so expect this first phase to sell out quickly. If you’re thinking of getting involved, be sure to visit their presale website

    You can participate in the AltSignals presale here.

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  • Bitcoin’s recovery will depend on a lot of macro-activities affecting the market, says Dan Ashmore

    Bitcoin’s recovery will depend on a lot of macro-activities affecting the market, says Dan Ashmore

    • Coinjournal’s Dan Ashmore says numerous factors, including inflation and rate hikes, have affected the prices of most cryptocurrencies.

    • He told CNBC that Bitcoin’s recovery would depend on numerous macro events affecting the market.

    • Bitcoin and the broader crypto market have lost more than 65% of their value since the all-time high of November 2021.

    Bitcoin’s recovery will not happen overnight

    Dan Ashmore, a cryptocurrency analyst at Coinjournal, told CNBC in a recent interview that the price recovery of cryptocurrencies will not happen overnight. When commenting about the price collapse last year, Ashmore said;

    “Entering 2022, we were at the tail-end of one of the longest and most explosive Bull Runs in recent memory. And then the world is gripped by this inflation crisis post-pandemic. We also experienced one of the swiftest rate hike cycles in recent memories. That sucked the liquidity out of all these risky assets. It is not overly surprising that we have seen this massive pullback.”

    The macro climate will play a role in market recovery 

    At press time, the price of Bitcoin stands at $21,163, down by more than 60% from the all-time high. While commenting on the possibility of price recovery, Ashmore said the macro climate would play a huge role in that regard. He said;

    “In the last month or so, we have seen slightly more positive readings. It still has a long way to go, but it is brighter than it looked a month or two ago. We still have a long way to go before we get back to that $69,000 all-time high. This is not going to be an overnight process.”

    He added that the rise depends on a whole range of variables in the macro climate going our way. Furthermore, the avoidance of incidents such as the LUNA, FTX, and Celsius crashes could help boost the market in the long term.

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  • BNB prediction as price maintains a recovery

    BNB prediction as price maintains a recovery

    • Binance coin has been bearish since the FTX collapse 

    • The cryptocurrency trades on an upside at $255 

    • BNB faces resistance at $266, a crucial resistance level

    While 2022 was largely bearish for almost every cryptocurrency, Binance (BNB/USD) was relatively stable. That’s not to mean that the cryptocurrency was bullish, but at least bears did not run riot as they did for most cryptocurrencies. It helped BNB hold strengths. At one time before the collapse of FTX, BNB neared the $400 price level. Since then, BNB has remained bearish. What happened?

    The collapse of FTX ignited fears that no crypto exchange was too big to fail. Investors rushed to decentralised exchanges that benefited from huge outflows from centralised peers. Binance, the world’s largest centralised crypto exchange, was among the culprits of the shift. That sent the native token BNB tumbling to $220 by mid-Dec. 

    Further fears were heightened by Binance’s proof of reserves. As CoinJournal reported, an audit report raised questions showing that the exchange was not sufficiently collateralised. BNB has been suffering in the aftermath, although the latest recoveries are promising. 

    BNB is facing resistance at $266 after recent recoveries

    BNB/USD Chart by TradingView

    BNB is mildly bullish on the daily chart. A bullish MACD crossover was initiated, supporting an improved momentum for the cryptocurrency. However, the MACD indicator is bearish. Bulls are yet to close above the neutral zone, which separates the bullish and bearish momentum. 

    BNB also trades below the resistance at $266. This is the level bulls defended strongly before the FTX-inspired crash. Therefore, the level is a key test for the bulls. 

    BNB price action next

    A continuation of the current recovery could see BNB return to its former self and turn $266 into support. For this to happen, bulls must overcome the resistance and break higher. 

    On the flip side, bears will try to position themselves as the BNB price reaches $266. Already, there is some resistance developing below the resistance zone. A failed breakout will see bears try to force a correction. That could see BNB continue to consolidate below before buyers have another chance.

    Where to buy BNB

    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 BNB 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 BNB with Binance today

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  • Decentraland’s (MANA/USD) may take longer to see a recovery

    Decentraland’s (MANA/USD) may take longer to see a recovery

    Have you been looking to buy Decentraland’s (MANA/USD) this month? Unfortunately, a technical outlook shows the metaverse token is not ready yet. The token has claimed a new low in the year and looks increasingly bearish. At least, we expect a potential new low, and you would not want to chase the clouds for now. What is happening?

    A prolonged crypto winter has dealt a blow to the once-booming metaverse sector. Consequently, MANA has lost 92% of its value since November 2021. The token now trades at the lowest value since June 2021, losing its post-boom surge in the process. 

    Perhaps it has become lonely there in the metaverse as crypto winter ravages. According to data released by DappRadar last month, metaverse platforms, including Decentraland, are struggling to retain users. The low development activity has been responsible for the price weakness. Investors may have to wait longer before we see another recovery for the token.

    MANA technical outlook shows weakening momentum

    MANA/USD Chart by TradingView

    On the daily chart, MANA is on a clear downtrend. The key level at $0.8 was tested, allowing the cryptocurrency to proceed lower.

    Technical indicators are also bearish. Since August, the 20-day MA has never recovered above the 50-day MA. The MACD indicator remains in the bear zone. The momentum is weak, and the bear pressure is rising further.

    What next for MANA?

    MANA is heading to a bottomless pit after hitting the June 2021 lows. Although the bulls can arrest a further decline below the level, there is no such indication yet. 

    We hold a bearish view until suitable support is found and MANA shows sufficient upside. A recovery above the $8 resistance would be ideal to consider a bullish view.

    Where to buy MANA

    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 MANA 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 MANA with Binance today

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