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  • Magic (MAGIC/USD) token soars on positive news

    Magic (MAGIC/USD) token soars on positive news

    • The magic token has doubled in price in the past week

    • The cryptocurrency has been boosted by potential listing by Coinbase

    • MAGIC is under correction as the cryptocurrency approaches the $0.7 resistance

    Ever heard of the Magic (MAGIC/USD) token? With a market cap of $103.31 million, the cryptocurrency is among the lowly ranked at #230. However, buyers are camping for this minor token on positive cryptocurrency news. As of press time, the cryptocurrency was up 10%, but it has more than doubled in price since the start of the month.

    The gains in MAGIC happened after US crypto exchange Coinbase said that the cryptocurrency was on its listing roadmap. Other tokens on the Coinbase listing target are Rocket Pool (RPL) and Aragon (ANT). But what is MAGIC?

    MAGIC is the native token of Treasure DAO, a project seeking to become a decentralised video game console. The DAO targets games and non-fungible tokens. Among the DAO’s infrastructure is an NFT marketplace Trover and gaming platform Bridgeworld.

    MAGIC corrects slightly below the resistance of $0.7

    MAGIC/USD Chart by TradingView

    A technical outlook shows MAGIC facing resistance as the cryptocurrency approached a key resistance at $0.7. The momentum is still bullish, although MAGIC is overbought, with an RSI reading of $75.

    The 20-day moving average is shifting above the 50-day MA, in line with the bullish momentum. Both moving averages offer MAGIC support.

    These key levels will be important to bulls

    $0.51 – This is the immediate support level for the cryptocurrency. The level has been tested and holds ground even as MAGIC corrects. If bulls defend this level, it will allow them to push higher and initiate a breakout at $0.70. The level is needed to hold for MAGIC to have a chance for further gains.

    $0.30 – This is the established support for the cryptocurrency. Although lying deep below, it could be hit if $0.51 fails to hold. That could push MAGIC back into consolidation and potentially wipe out the gains already made.

    Where to buy MAGIC

    As MAGIC is such a new asset, it’s yet to be listed on major exchanges. You can still purchase MAGIC using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy MAGIC right now, follow these steps:

    1. Buy ETH on a regulated exchange or broker, like eToro ›

    We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.

    2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask

    You’ll need to create your wallet, grab your address, and send your coins there.

    3. Connect your wallet to the 1Inch DEX

    Head to 1Inch, and ‘connect’ your wallet to it.

    4. You can now swap your ETH for MAGIC

    Now that you’re connected, you’ll be able to swap for 100s of coins including MAGIC.

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  • Just In – Dogecoin is the TOP MEMES TOKEN by Social Activity

    Just In – Dogecoin is the TOP MEMES TOKEN by Social Activity

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  • Shiba inu coin news today:Shiba Inu is the Most Bullish Sentiment ERC20 Token

    Shiba inu coin news today:Shiba Inu is the Most Bullish Sentiment ERC20 Token

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  • GMX token (GMX/USD) benefits from FTX collapse and breaks from consolidation

    GMX token (GMX/USD) benefits from FTX collapse and breaks from consolidation

    • GMX token has more than doubled in price

    • The DEX has witnessed increased activity in November

    • GMX broke from consolidation and is a buy on a retracement

    GMX token (GMX/USD) has doubled in price. Trading at just $25 on November 10, the cryptocurrency touched a high of $59 on December 2. The gains come amid an influx of investors post-FTX collapse. As of press time, GMX was trading at $56.

    The collapse of the FTX exchange fueled demand for decentralised exchanges or DEX. Among the DEXs that became popular were GMX and Uniswap. Both platforms saw increased investors’ interest, fueling gains in the native tokens. Yet, on November 28, GMX saw $1.15 million in daily trading fees. The fees surpassed those earned by Uniswap for the first time in history. That underlined that investors look at the lesser-known DEX as a serious rival to Uniswap.

    Market analyst Zen commented on the recent performance of GMX compared to Uniswap. The market analyst says GMX’s performance stems from investors receiving favourable trading fees of about 30%. Users on Uniswap do not get shares from the protocol’s trading fees. Zen says that GMX is a buy-and-hold in the bear market. He also lauds the platform as being the second-highest platform consistently after Uniswap.

    GMX technical outlook as price aims for the stars

    GMX/USD Chart by TradingView

    Technically, GMX broke above a resistance at $49. The cryptocurrency has also been trading on an ascending channel, now invalidated as the price broke out on the upper band.

    An RSI reading of 70 suggests that GMX is entering overbought levels. The cryptocurrency is also facing minor resistance, and a correction could occur before the next bull leg.

    When to buy GMX?

    A breakout at the crucial resistance and strong fundamentals supports buying GMX. However, from the price action and indicators, GMX could be due for a correction. 

    A potential price retracement towards $49 is on the horizon. Investors should take advantage of a correction and buy lower. 

    Where to buy GMX

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  • Fantom (FTM/USD) eyes a breakout. Is the token about to post sustainable gains?

    Fantom (FTM/USD) eyes a breakout. Is the token about to post sustainable gains?

    • Fantom token has recovered by 28% in the last seven days

    • Developments around Fantom asset base have boosted the cryptocurrency

    • FTM has hit a descending trendline and could correct 

    Fantom (FTM/USD) trades at $0.24 as of press time, its highest level in nearly a month. The cryptocurrency has risen by 28% in the past week, a robust recovery since it bottomed at $0.17. The gains come amid positive cryptocurrency news.

    The latest FTM gains came as reports suggested that the Fantom Foundation earns consistent profits. According to the financial records dated November 28, Fantom was generating more than $10 million annually. The reports also indicated that Fantom could have about $340 million worth of digital assets. The assets could last 30 years without the foundation having to sell its stash of FTM tokens.

    With many crypto firms and exchanges under a liquidity crunch, the records of Fantom boosted investors’ confidence. Addresses holding Fantom tokens saw a strong increase in November from the smallest to the largest investors. The accumulation suggests that investors anticipate a recovery in the cryptocurrency’s price, which has lost 93% from its ATH. But can buyers sustain the recovery?

    FTM heading to the descending trendline 

    FTM/USD Chart by TradingView

    Technically, the Fantom token has recovered above crucial support at $0.20. The recovery has seen the cryptocurrency move above the moving averages. However, the token remains trapped by a long-term descending trendline. 

    The RSI reading shows that FTM is nearing overbought levels at the descending trendline. A possible correction could occur before buyers have a chance to break the crucial barrier.

    What next for FTM?

    A breakout above the descending trendline will confirm further gains in Fantom token. A breakout will allow buyers to ride to $0.30 next and $0.40.

    On the flip side, FTM will be rejected at the descending trendline. That will allow bears to force a correction back to $0.20. However, with growing FTM accumulation, buyers may crave another chance to break above the descending trendline.

    Where to buy FTM

    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 FTM 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 FTM with Binance today

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  • Voyager token (VGX/USD) jumps 24%. Here is the reason and potential price action next

    Voyager token (VGX/USD) jumps 24%. Here is the reason and potential price action next

    • Voyager token rose by double-digits on Thursday

    • Reports of acquisition by Binance.US boosted the token

    • The token faces a correction at key resistance

    Voyager (VGX/USD) was at the centre of retail interest on Thursday, witnessing a surge in trading volumes. The cryptocurrency of the embattled crypto firm Voyager Digital was strongly mentioned on social trading platforms. Positive cryptocurrency news was boosting the token of the bankrupt crypto lender.

    On Thursday, reports emerged that Binance.US was buying the embattled crypto firm. Voyager filed for bankruptcy protection in July in a liquidity crisis after a sustained crypto winter. Binance CEO Changpeng Zhao confirmed the purchase reports on Thursday. CZ said Binance.US would bid again for Voyager after the deal with collapsed FTX didn’t go through. 

    Binance.US is not the only entity to eye the assets of Voyager. On November 22, Kaj Labs said it would launch a second offer to acquire the assets of the embattled firm. Kaj Labs says it still sees value in the assets of Voyager and will negotiate in good faith with the firm. However, the entry of Biannce.US to the bidding war has attracted attention.

    VGX traded at an intraday high of $0.53, from the lows of $0.35. As of press time, the cryptocurrency was trading at $0.44 after a brief correction. The next price action and developments would determine whether we see a sustained bullish surge for VGX.

    VGX correcting at resistance after intra-day gains

    VGX/USD Chart by TradingView

    On the daily chart, VGX has initiated a short-term bullish trend since bottoming at $0.2. Following the intra-day gains, the cryptocurrency rose above resistance at $0.44. However, the price has retreated and could close below the resistance.

    The RSI has moved above the neutral zone. There are no bought conditions, nonetheless, suggesting that a higher price is possible.

    Should you buy VGX now?

    The closure of the daily candlestick above $0.44 could ignite bull interest in VGX. However, this cryptocurrency is being driven by speculations. 

    Thus, short corrections can occur if the projected buyout of the embattled firm fails to occur. Buying VGX now could be premature, and it’s good to wait until further developments.

    Where to buy VGX

    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 VGX 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 VGX with Swapzone today

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  • Ankr Network token (ANKR/USD) jumps 6% to resistance

    Ankr Network token (ANKR/USD) jumps 6% to resistance

    • Ankr Network token rose after becoming a RPC for Sui blockchain

    • ANKR remains subdued by a resistance

    • The token could correct despite the intraday gains

    Ankr Network (ANKR/USD) witnessed increased investor interest on Thursday, pushing the token up 6%. The gains reflected positive cryptocurrency news. Attention will not shift to whether the token will sustain gains as it hits a key resistance level.

    Ankr is a platform that provides access to the decentralised internet. The network aims to eliminate the barriers to entry to the blockchain by decentralising control to users and developers. To achieve this objective, Ankr provides simple tools and interfaces for Web3 development. ANKR is the native token that powers the ecosystem and helps in on-chain governance.

    Thursday’s gains of ANKR token came after becoming the first Remote Procedure Call provider for the Sui blockchain. The announcement on November 22 indicated that Ankr would let developers create and upgrade dApps on top of Sui. Ankr will also support the Sui mainnet after it goes live. There is additional expected support for docs, tools, and features for the Web3 developers. The partnership also opens opportunities for geo-distributed and decentralised RPC for Sui. 

    The latest announcement also coincides with the increasing growth of Ankr staking. According to the network’s November 23 Twitter post, more than 56,000 ETH has been staked with Ankr staking. The developments have since fueled increased speculation for the network’s native token.

    ANKR faces correction at $0.026 despite the intra-day surge

    ANKR/USD Chart by TradingView

    Despite the intra-day gains, ANKR has met resistance at $0.026. The cryptocurrency is correcting, resulting in a potential bearish pin bar below the key level. Besides, the long-term trend for the token is bearish.

    When to buy ANKR?

    ANKR is not yet a buy despite a positive price action. A recovery from the bearish market will be confirmed if the cryptocurrency breaks above the $0.026 support. Buyers will still need to be cautious of a retracement at the descending trendline. 

    On the flip side, the formation of a bearish signal below the key support would make ANKR vulnerable. A price back to the $0.019 support or lower would be in sight. 

    Where to buy ANKR

    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 ANKR 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 ANKR with Uphold today

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  • Nest Protocol token (NEST/USD) – what you need to know about the token

    Nest Protocol token (NEST/USD) – what you need to know about the token

    Nest Protocol token (NEST/USD) traded up 50% on Tuesday before cooling slightly. The token saw increased trading volume, with a 24-hour change of positive 326%. We investigate more into this now exciting token and its protocol.

    Nest Protocol functions as a web3 infrastructure platform. It facilitates the generation and programming of stochastic assets. The platform is built on Ethereum. NEST, an Ethereum-based token, runs the protocol. It helps meet the liquidity needs of the platform. The token also serves as a reward mechanism for users who provide accurate price quotes on the protocol.

    Nest Protocol token is ranked #190 on CoinMarketCap with a total valuation of $76.64 million. The token has a circulating supply of 2.91 billion tokens, while its max supply is capped at 10 billion.

    No clear fundamentals were driving the price of NEST. The token witnessed increased mentions on social trading platforms. Will the bubble burst?

    NEST token price analysis amid increased retail interest

    NEST Chart by TradingView

    A technical outlook of NEST shows that the token is overbought, with the RSI at 77. The cryptocurrency met resistance at $0.038, resulting in the formation of tailed bars. 

    Looking at the general trend, the price momentum of NEST is bearish. The cryptocurrency has been witnessing irregular bullish pop-ups that have been unsustainable. Consequently, a sharp correction could occur.

    Should you buy NEST?

    Buying NEST is speculative as the price lacks clear fundamentals. A potential bubble burst could occur after the intra-day gains as cryptocurrencies remain in a bear market.

    For a sustainable bullish momentum, NEST must clear the resistance at $0.038. That will depend on clear fundamentals emerging that will support a higher price amid a bear crypto sentiment. On the downside, the level to watch is $0.016.

    Where to buy NEST

    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 NEST with Swapzone today

    Huobi

    Start Your Cryptocurrency Journey Today. Huobi Global has a variety of features that make it an ideal place to buy and sell digital asset.


    Buy NEST with Huobi today

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  • The Sandbox SAND/USD prediction as token hits a new low in the year

    The Sandbox SAND/USD prediction as token hits a new low in the year

    The Sandbox (SAND/USD) crashed by nearly 5% on Monday, extending its losing streak in the bear market. The loss took the token to a yearly low of $0.52 before recovering slightly. As it stands, the token of the Metaverse platform is under the control of bears.

    It is not only SAND that is under pressure. Metaverse peers feel the heat of a very calm virtual reality space amid a prolonged crypto winter. This year’s activity is below par for a sector that was expected to witness unprecedented growth.

    Take the case example of Horizon Worlds, the flagship metaverse for tech giant Meta. As of October, reports indicated that Horizon had amassed less than 200,000 monthly active users. Unless a miracle happens, Meta is unlikely to hit 500,000 MAUs by the end of the year, as initially projected.

    As to whether the low activity in the metaverse is connected to the crypto winter, time will tell. At the moment, the metaverse is simply underperforming. The Sandbox token has, therefore, been in a prolonged downturn owing to fewer entities entering the nascent sector. Will the token set a new low?

    SAND heading to $0.40 next?

    SAND/USD Chart by TradingView

    On the weekly chart, there is no clear bottom price for the Sandbox token. However, the area around $0.4, when SAND started to turn bullish, should remain of interest. That implies that SAND could fall by up to 30%. Nevertheless, looking at the candlestick price pattern, the bear market has been cooling.

    When to buy SAND

    SAND price is bearish and not attractive for a buy. Nonetheless, significant price declines are unlikely, and SAND could begin a reversal if the RSI hits the oversold levels. Still, the prevailing crypto sentiment should guide ascertaining a bullish reversal for the cryptocurrency.

    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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  • Bitcoin BTC prediction as the token continues to stall

    Bitcoin BTC prediction as the token continues to stall

    Bitcoin (BTC/USD) may have settled above $15,000, but the pressure is mounting. As of press time, the cryptocurrency was trading at $16,623, losing 1.32% on the day. BTC is also largely consolidating rather than making a directional move. A technical outlook shows a potential decline to the next low.

    Bitcoin’s price action comes when data shows that BTC holders are withdrawing their holdings from crypto exchanges. According to Glassnode, there is over $1.75 billion per month of mass exodus of Bitcoin from exchanges. The withdrawals come after the collapse of the crypto exchange FTX.

    Further, Glassnode data shows investors are flooding exchanges with dollar-pegged digital assets. More than $1.04 billion worth of stablecoins flowed into exchanges after the FTX fiasco. The rising suggests that investors are gearing up to buy the dip as most cryptocurrencies tanked.

    An increase in stablecoins flowing to the exchanges preempts investors’ expectations. However, it does not indicate that we have hit the market bottom. From the BTC perspective, this is illustrated by increasing bear pressure for the cryptocurrency. 

    BTC analysis as price stalls below key level

    BTC/USD Chart by TradingView

    On the weekly chart outlook, BTC has a confirmed break below the $19,500 level. The MACD indicator shows the cryptocurrency is bearish. The momentum is also weakening further. 

    Will Bitcoin proceed lower?

    The current BTC price level could fail to hold due to weak momentum. The price also trades at a non-support zone, meaning the cryptocurrency is yet to settle.

    Based on the technical indicators, a lower price is possible for BTC. The next established support for BTC lies lower at $11,000. However, the level around $14,000 has shown price action before and could provide support for BTC. 

    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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