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Tag: Crypto

Voyager (VGX) Coin Gained 28% this week – Where to Now?

According to coinmarketcap, the total supply of VGX is around 278M tokens and the circulating supply is around 278M VGX. VGX holds the 92nd rank according to market cap.

At the time of writing VGX is being traded at the price of $4.95 with a decrease of almost 5.36% in the last 24 hours. VGX is a really strong token fundamentally. The maximum and minimum today are $5.76 and $4.68 respectively. The daily trading volume has decreased by almost 36.76%. VGX had created its all-time high and reached a price of almost $6 last week. But the price of VGX dropped to $3.62 in the same week but soon printed a green bullish candle.

Technical Analysis – Voyager (VGX)

The chart of Voyager (VGX) as seen on a 1-hour time frame shows a very beautiful movement. The price broke the structure and broke upwards and created an order block in the process. It can be seen that soon after that, the price came back to mitigate that level from where another attempt to create a higher high was created which failed. This brought the price of VGX and constricted it to a triangle.

The point to notice is the clear fake-out, done by the price. The price eventually came back down after grabbing the liquidity. Keeping in mind this movement and how the price still has the momentum (it seems that the bulls are in control at the moment) so we can expect it to drop down to grab the liquidity and do a fake-out. A possible level to which it can drop is the clear level of order block from where it can bounce back.

If the price drops down, it can be a really good entry point depending upon lower time confirmations. We can expect the price to move up as soon we see bullish momentum from the price. If the price of VGX goes up again we can wait for a possible retest to take a position in the market.

Long Term Investment – Voyager

According to the wallet investor, it is a very good investment. In a one-year plan, VGX is expected to reach a price of $6.653. In a five-year plan, it is expected to reach a value of $15.468 which is almost two times what it is being currently being traded at. It is one of the most popular coins in the cryptomarket.

November 24, 2021
Stacks (STX) Coin – What does the Chart Tells us Now?

At the time of writing STX is being traded at the price of $2.06. The price has decreased by almost 7.47% in the past 24 hours. STX created its all-time high around the value of $2.850 in April 2021 before the drop to a value of $0.500. The daily trading volume has decreased by almost 24.06% in a day. The total supply of STX is around 1.352B tokens. The circulating supply is around 1.28B STX.

The Native Token – Stacks (STX)

The native token of Stacks is known as STX. STX has a variety of use. It is used for the execution of smart contracts. It is used for transactions and also for registering new assets on Stacks. STX is listed on coinmarketcap at 65th position and has a market dominance of about $0.10.

Technical Analysis- Stacks (STX)

Stacks (STX) has been one of the coins that have been slow to gain pace but are slowly gaining more and more. The chart at the moment is showing bearish movement.

The price moved up by creating an order block which eventually broke the structure towards the upside. It continued to create a higher high till a point came from where it wasn’t able to create a new high. That was a sign that the market structure is shifting bearish. From there lower highs and lower lows were created and a drop in price occurred.

The price was bouncing from a trend line (it had bounced 3 times in total). But overall, the order block still hasn’t been mitigated and the way STX is losing steam, it might not bounce the next time it touches the trend line. If it drops to the order block, we can expect the price to shift structure. But this drop would only come into play if the trend line doesn’t hold. If it holds we can look for a bullish price movement, even if it is for a short period of time.

Price Prediction – Stacks

In the long run, STX is a good opportunity. According to the wallet investor, the price of Stacks is to reach a value of $3.419 in a year. For a five-year plan, the price will reach a value of $8.230. But the investors are even more bullish on the value and they think that it will reach even more.

November 24, 2021
FLOW Coin Drops down 8% today – What’s Next?

According to coinmarketcap, the maximum supply of FLOW is around 1.3B tokens and the circulating supply is around 311.8M tokens. FLOW holds the 46th rank according to market cap and has a market dominance of 0.16%.

At the time of writing, FLOW is being traded at the price of $13.08 with a drop of almost 7.91% in the last 24 hours. It is a really strong token fundamentally. The maximum and minimum today are $14.54 and $12.89 respectively. The daily trading volume has also increased by almost 71.75%. It had created its ATH in July 2021 and reached a price of almost $35.61. During the crash, the price has dropped down to a level of $11.55. The price is still near the bottom and hasn’t done much.

Technical Analysis – Flow (FLOW)

The chart of the price is quite neat at the moment. On the daily time frame, we can see that Flow was continuously facing rejection from the trend line. But recently the price has broken out of the range and has shown a drop in its price.

We have seen the presence of liquidity which can drop the price down to a lower level. After it has happened we can expect the price to show reversal from that point.

The target for this movement would be around the 1D order block. The price can move to that level and we can expect a reaction from the price at that point. The price of Flow has already broken out but we can expect a retest which would also serve as a method to grab the liquidity below. Overall the short-term sentiments for the price are quite bullish and we can soon expect higher highs and lows.

Long Term Investment

In the long run, people are quite hopeful about the price. They think that it is going to attract an even more audience that is going to make it even more mainstream.

But according to the wallet investor, in a four-year plan, Flow is supposed to drop down to a price of $1.933 which is quite less than the price that Flow has right now. As opposed to the general mindset of the investors and retailers this is quite an opposite perspective and this calls for Flow to be not a good investment. But people are hopeful that Flow will achieve new heights in the near future.

November 24, 2021
Decentraland (MANA) – The Metaverse is Here

Decentraland (MANA) is a virtual reality platform that is powered by the Ethereum blockchain. It is a kind of game in which players can immerse themselves to create whatever their individuality allows them to create. In this manner, it is sort of like the famous Minecraft game where players have been able to create the most amazing of sceneries. The imagination of the players can really be put in to the test through Decentraland. The 3D aspect of the game also makes it more enticing as a whole physical community would be interacting with each other.

Users can create, experience, and monetize content and applications. Land is Decentraland is permanent ownership that shall allow the users complete control over whatever their imagination allows them to create. The ownership is awarded to the users through a blockchain-based ledger of parcels. The identification of this is done through specific cartesian coordinates. Contents created can range from static 3D scenes to interactive systems such as games.

The Land in Decentraland is a non-fungible, transferrable, scarce digital asset stored in an Ethereum smart contract. It can be acquired through the spending of the local ERC-20 token of Decentraland. MANA can also be used to make in-world purchases of digital goods and services.

Decentralized Autonomous Operation

Another aspect worth talking about Decentraland is that it is a system based on Decentralized Autonomous Organization (DAO). This is a democratic virtual world so to speak. There is no single agent with the power to modify the rules of the software, contents of land, the economics of the currency, or prevent others from accessing the world.

The purpose behind creating this platform is to construct a platform through which a metaverse can be constructed. They believe that users should have full value for the efforts they put into the creativity in creating content.

Price Movement – Decentraland (MANA)

At the time of writing this article, the current value of MANA is $4.08 with a trading volume of $5,268,958,510. Even though the value of Bitcoin is falling, MANA is really holding itself up. This might be due to the opening of the eyes of investors towards the metaverse by the rebranding of Facebook as Meta and the subsequent reassuring action taken by Microsoft to aim for the metaverse as well. The monthly low of MANA has been $0.7208 and the monthly high has been $4.69. This is quite the increase. All indicators show good prospects for the coin.

November 20, 2021
Loopring (LRC) Coin – The new Project for the defi World

There is a wave of change coming in the finance market and the current mode of centralized operation is to evolve to become decentralized. Blockchain technology is the foundation upon which the future of decentralized finance (DeFi) is going to rest on. Now the rest of the supporting elements are specific protocols and infrastructure to enact a mode of operation that can make DeFi a reality. Loopring (LRC) is one of those specific protocols trying to change the game.

Loopring (LRC) aims to be the future of marketing. It is built on Ethereum but more specifically on layer 2 (zk Rollups). Loopring believes that the users of DeFI can make low-free, high-speed platforms for trading, swapping, liquidity providing, and payments – without compromising the security feature of Ethereum. The purpose of Loopring is to design the best zk Rollup exchange and the most efficient payment protocol on the Ethereum ecosystem. It also aims at operating products that can bring users across the world to access it. The security of Loopring is assured by them as they guarantee 100% Ethereum-level security. As the normal convention of the coin is held, it doesn’t need the depend upon validators, consensus, or cryptoeconomic assumption but only upon Ethereum and Zero Knowledge (zk) cryptography.

Speaking a little about zk, it is a fast and secure gas-free lane through which users can deposit and withdraw Ethereum-based assets such as non-fungible tokens (NFTs). This is a promising concept that can resolve a lot of issues that are currently faced by the Queen of the market. The scalability issue can also be resolved through the zk Rollups. They estimate their speed to be 1000 times with that of Ethereum trades.

A novel aspect adopted by Loopring (LRC) is the Merkle Tree. This is to get the speediest and most efficient outcome. Only off-chain balances are supported by Loopring. These balances are stored within the Merkle trees. The users have the ability to deposit and withdraw tokens to their smart contracts, and their balance is subsequently changed in the Merkle Trees accordingly. This significantly lowers the cost of transactions.

Current Price Movement – Loopring (LRC)

At the time of writing, LRC, the utility token of Loopring has a value of $3.49 which is a 22.87% increase over the past twenty-four hours. LRC has a trading volume of $1,391,926,957, a 93.06% increase over the past twenty-four hours. Even if the NFT market seems to be in dire straits, it seems that the value of LRC is increasing. This also seems to be strange considering the bearish momentum of Bitcoin.

November 20, 2021
Elrond (EGLD) Coin – Time to retrace back?

The native token of Elrond network is Egld that is used in staking and paying network fees and rewarding validators. At the time of writing Egld is being traded at the price of $356.88. The price has increased by almost 15.68% in the past 24 hours. Egld is listed on coinmarketcap on the 30th spot and has a market dominance of about 0.27%. The past 4 months have been extremely bullish for the price.

This month alone we have seen an increase of about 31.83% in the price. 4 months ago Egld was being traded at the price of around $86.86 and now it is near its All-Time High. EGLD created it all-time high around the price of $369.61 during this month. Egld has a limited supply with a base at 20M Egld and new tokens are minted to reward the validators.

Technical Analysis

Elrond (EGLD) has been printing green candles for the past 8 hours. On the four-hour time frame, we see that the price was forming an inverse cup and handle formation. During this formation, the price was supposed to drop (high probability) but instead it grabbed the liquidity and rallied upwards, and broke the structure during this movement as well.

During this rally upwards, the price had created an order block which is unmitigated at the moment. Aso due to this momentous move upwards, we see that the price has left quite an imbalance there which can drop the price down to the level of the daily order block.

A confirmation of this move would be that Elrond (EGLD) breaks the structure which would eventually lead to a drop in the price. Moreover, if the daily order block holds then we can expect that the price would move upwards and it wouldn’t be long before we see a new all-time high, otherwise, we can expect lower price levels as well.

Long Term Prediction – Elrond (EGLD)

Elrond (EGLD) is a highly bullish project. According to the wallet investor, the price is expected to reach a value of $525.372. For five years, the price is expected to reach a level of $1357.070.

November 20, 2021
Holo (HOT) Coin – On its way to Create a Higher High?

The native token of Holo is named HOT. At the time of writing HOT is being traded at the price of $0.01284. The price has increased by almost 11.67% in the past 24 hours. The daily trading volume of HOT has also increased by almost 123% today. HOT is listed on coinmarketcap on the 68th spot and has a market dominance of about 0.09%. The past month i.e. October just like a lot of other coins has been bullish for HOT and we have seen an increase of about 77.02% in October. This monthly candle is bearish and has seen a drop of 9.44%.

HOT had created its all-time high around the price of $0.03160 in the month of April 2021. The maximum supply of HOT is around 177B HOT while the circulating supply is around 172.9M HOT (according to coinmarketcap). Nearly all the coins are in circulation now.

Technical Analysis – Holo (HOT)

On the daily time frame, we can see that the price was moving upwards and shot upwards to break the structure. This resulted in a new high of the price. Now when the price went parabolic it left an order block behind. Soon after the new high, the price started to take rejections and started to clearly respect a line. As such it grabbed the liquidity present above and slowly started to retrace back to the daily order block.

Soon the price went to mitigate the order block and now there is no visible reason for the price to come down again. We can expect a beautiful rally from HOLO at this point which would eventually lead to a new high. Invalidation of this scenario would be failing of the price to bounce from this zone which at the moment seems highly unlikely to happen.

Price Prediction – Holo

HOT has been one of the highly bullish coins currently. The platform offers solutions that connects dApps built on Holochain to be connected with the mainstream internet. According to the wallet investor, the price of Holo (HOT) is expected to reach a value of $0.0230 and in five years the price is expected to reach a level of $0.06083. As compared to the current times this is the price doing many times, but the traders think that it would be much more than what is being expected.

November 20, 2021
Fantom (FTM) Coin – How can the Price behave Now?

According to coinmarketcap, the maximum supply of FTM is around 3.175B FTM and the circulating supply is around 2.55B FTM. FTM holds the 39th rank according to market cap and has a market dominance of 0.22%.

At the time of writing, FTM is being traded at the price of $2.17 with an increase of almost 12.94% in the last 24 hours. FTM is a really strong token fundamentally. The maximum and minimum today are $2.21 and $1.77 respectively. The daily trading volume has also increased by almost 71.75%. FTM had created its ATH in October 2021 and reached a price of almost $3.4842. During the crash, the price of FTM dropped down to a level of $0.1530. The price has almost done 15 times since the creation of the bottom.

Technical Analysis – Fantom (FTM)

Fantom (FTM) has been a highly bullish coin but recently as it can be seen that the coin has shifted the market structure as shown in the chart. The chart shows that it had broken many structures and kept the uptrend till it reached the point of its recent high where it faced severe rejection. The price did try to attack the level again but it couldn’t hold it and it fell down leaving tons of liquidity above the line.

Now one thing to notice is the creation of two order blocks, one above the current price and one below the price. The market can move in such a way that it will tackle the order block above and then move on to the lower time frames. From where a possible long can be taken upon a retest of the zone.

It is to remember that overall the price is highly bullish and we can expect the price to move upwards soon. Only on the lower time frames, noise is visible but zooming out gives quite a clear view about the price movement.

Long Term Price Prediction – Fantom (FTM)

FTM is a really strong token. It provides decentralized finance solutions to developers. As a result, we can expect growth in the price in the future. According to wallet investor, it is expected to reach a value of around $4.518 in a year and is expected to reach a value of $12.324 in five years.

November 20, 2021
Enjin (ENJ) Coin – A Gaming Platform that has Pumped Hard

The advent of blockchain technology has opened new avenues for people to connect with others. One way that this is being done is through the online gaming scene. This, coupled with the increased interest of major corporations in the metaverse, the crypto-gaming platform has taken the world by storm. Enjin (ENJ) is one such project.

Enjin that is powering the ENJ coin is also one of those companies that are trying to take hold of the gaming space opened through crypto-networks and Non-Fungible Tokens (NFT). Built on the Ethereum blockchain, the game enables its players to earn money through playing the game. With this, the hours that were “materially wasted” can on recreational activities be turned into profit.

Using Enjin (ENJ), NFTs can be made and then sold. This is done through Enjin providing a social gaming platform. Through this platform, the NFTs earned within the game can be stored in the vaults. Developers have the option to create in-game accessories and products through the platform. These products can be bought, sold, traded, or used within the virtual world. The developers are given software development kits (SDKs) have been given to developers so that each can add their own unique flavor and identity to the software.

Enjin (ENJ) has a weird relation with the whole market. Most altcoins follow the trajectory of Bitcoin. But Enjin seems to show an opposite direction. It might be because ENJ is a gaming token. Other factors may include the rebranding of Facebook incorporated as Meta and the high earning of all the investors with all their bullish performance of the coin with 97% of the investors making money.

Current Price Movement – Enjin (ENJ)

At the time when this article is being written, the value of the Enjin (ENJ) coin is $3.50 (a 21% increase over the past twenty-four hours) with a trading volume $1,385,742,744 with an increase of 92.44% over the past twenty-four hours. In just the last month, the coin has gone from its value of $1.68 to its current value which is also at its all-time high. The total and maximum supply of the coin is 1 million ENJ tokens out of which 853,108,659.57 ENJ are in circulation.

Enjin (ENJ) has recently formed a $100 million Efinity Metaverse Fund to formalize support for their ecosystem partners and help make the decentralized Metaverse a reality. Unlike the metaverse of Facebook (which Enjin claims want to become an internet despot), the Enjin metaverse is planning to be decentralized.

November 20, 2021
Arweave (AR) – At a make or break Position?

According to coinmarketcap

“Arweave (AR) is a decentralized storage network that seeks to offer a platform for the indefinite storage of data. Describing itself as “a collectively owned hard drive that never forgets,” the network primarily hosts “the permaweb” — a permanent, decentralized web with a number of community-driven applications and platforms.”

At the time of writing, Arweave (AR) is being traded at the price of $56.78. The price has dropped by almost 7.07% in the past 24 hours. The daily trading volume has also dropped by 19.57% today. It is listed on coinmarketcap on the 76th spot and has a market dominance of about 0.07%.

Arweave has created its all-time high, this month and had achieved a price of $91.08. Overall this month is printing a bearish candle and has currently dropped by 1.70% this month. The total supply of Arweave is 63M while the circulating supply is around 33M.

Technical Analysis – Arweave (AR)

Arweave (AR) is currently at a very important zone that should be observed very carefully. The price on the daily time frame moved upwards and broke the structure towards the upside. This led to the creation of an order block on the daily time frame. The price went high but wasn’t able to sustain it and came down into the same zone where it was before.

Now the price is currently testing the trendline, which it has respected many times before. If this breaks we can expect the price to come down to the orderblock which initiated this move. But at the same time, we would be ranging in the lower chart which would open the other zone for us. This would take the price down to the bottom OB which could potentially serve as a bottom.

If the price wants to stay bullish, we would like the price to stay above the trendline and bounce from here. Otherwise, we can expect a lot more bloodshed in the market.

Price Prediction

Arweave is a strong project. Providing a platform for storage purposes is highly useful and as such, they would be highly bullish in the future. According to the wallet investor, the price of Arweave (AR) is expected to reach a value of $138.04 in a year. For five year plan, the price is expected to reach a value of $411.159.

November 19, 2021