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Tag: Technical Analysis

  • Crypto.com Coin (CRO) fueled by strong bullish momentum

    Crypto.com Coin (CRO) fueled by strong bullish momentum

    Crypto.com Coin (CRO) had been one of the few cryptocurrencies to show bullish momentum despite the bearish outlook for the cryptocurrency market. CRO coin had been moving upwards since the end of June and where cryptocurrency succumbed to the market’s bearish pressures, CRO continued its upward trajectory. At the time of writing, Crypto.com Coin stands at a price level of $0.122. In the daily timeframe, the price has declined slightly while the trading volume has shot up by 130%.

    Crypto.com Coin technical analysis

    In the four-hour timeframe, CRO coin has been moving upwards with minor downside movements. Given the strong bullish momentum in the market, the cryptocurrency can be expected to uphold the support level at the lower boundary of the channel formation. If the support level is established then the uptrend can be resumed as a pullback from the lower boundary will result in CRO coin going upwards. Although, in the daily timeframe CRO coin has been becoming increasingly bearish so a break out to the downside from the channel is not unlikely.

    Crypto.com Coin Technical Analysis
    Crypto.com Coin Technical Analysis

    The future price projections for the cryptocurrency are bullish. According to the estimates of Wallet Investor, CRO coin is expected to be operating at a price level of $0.20 in a year’s time while the five-year projection shows a price of $0.48 – an increase of 300%. The projections of Digital Coin Price are also hopeful for the cryptocurrency – albeit not as bullish. Per their estimates, Crypto.com Coin will reach towards $0.37 by 2028.

    What is Crypto.com Coin?

    CRO coin is the native token of the Crypto.com Chain. The blockchain is an open-source and public blockchain. It regards itself as the next generation blockchain. Crypto.com Chain is curated to be a public good in order to help boost the adoption of the blockchain technology. The decentralized platform is marked by low gas fees and lightning-fast speed. Crypto.com Chain is also one of the few blockchains that have taken the initiative towards sustainability. The blockchain has vowed to become carbon negative by the year 2023.

  • Dogecoin (DOGE) Coin – Can the bearish momentum end soon?

    Dogecoin (DOGE) Coin – Can the bearish momentum end soon?

    Dogecoin (DOGE) had picked up the pace towards the end of June; however, the cryptocurrency was gripped by the bears and the bullish momentum was lost. Bearish momentum has been dominant in the market ever since and Dogecoin has been on a strong downtrend. The price movements in the daily timeframe indicates towards a reversal of the trend. In the past twenty-four hours, Dogecoin had been moving upwards – although the upside movement is minor currently – while the daily trading volume has declined by 10%. At the time of writing, Dogecoin stands at a price level of $0.19.

    Dogecoin (DOGE) technical analysis

    The recent upward move has not yet been translated into the technical for the cryptocurrency. The market outlook for Dogecoin continues to be bearish. Out of the total twenty-six technical indicators, fifteen are giving out a signal of sell with eight indicators standing at a neutral position and only three at buy. The oscillators are neutral while the moving averages still suggest a strong downtrend.

    Dogecoin (DOGE) technical analysis
    Dogecoin (DOGE) technical analysis

    A trader’s analysis reveals a take on the upcoming price movements of Doge coin. Per the analysis, Dogecoin’s downtrend is not to last for too long. The cryptocurrency had formed somewhat of a coherent wave count. The current wave will lead DOGE crypto towards testing a crucial support level at $0.16. If Dogecoin stabilizes at the support level, a pullback to the upside can be expected which will help the cryptocurrency towards a price target of $0.27.

    Dogefather’s full support for Dogecoin

    The Doge-father – or the billionaire CEO Elon Musk – had been an ardent believer of the cryptocurrency. Musk has sent the cryptocurrency flying to the moon a couple of time and he is not stopping anytime soon. Musk had taken up with the development team of Dogecoin and has been working closely with them to make Dogecoin a global payment network. The support of Musk is crucial for Dogecoin and can result in a trend reversal.

  • Cardano (ADA) coin price prediction towards $3

    Cardano (ADA) coin price prediction towards $3

    Cardano (ADA) had turned bullish amidst the bearish market earlier; however, the bullish momentum could not last for the cryptocurrency and it, too, succumbed to the pull of the bears. At the time of writing, Cardano stands at a price of $1.27. The price has fallen slightly in the past twenty-four hours while the trading volume has increased by more than 40%.

    Cardano (ADA) Technical Analysis

    The market sentiment for Cardano is bearish as the cryptocurrency is moving downhill. Out of the total twenty-six technical indicators, fourteen are standing at a position of sell, and nine are giving out an indication of neutral while only three indicators are bullish.

    Cardano (ADA) Technical Analysis
    Cardano (ADA) Technical Analysis

    Cardano (ADA) is operating in a descending channel formation ever since the establishment of the all-time high during May. Cardano had been overtaken by bearish momentum and the boundaries of the channel formation had been acting as strong support and resistance. Currently, the cryptocurrency can be observed moving towards the upward boundary – the strong resistance level. The recent upward move may be indicative of an end to the bearish pressures in the market. If the ADA coin is able to break the strong resistance at the upper boundary, good things can be expected from it in the future.

    Price predictions for the Ethereum-Killer

    Cardano has been dubbed as the “Ethereum-Killer” because of the resemblances it bears with the queen of the market. Both the projects are focused of smart contracts and decentralized apps. However, Cardano has a unique research-driven approach to design and integrated academia in making blockchain technology relevant. Cardano’s Proof-of-Stake mechanism also puts it at an advantage when compared to Ethereum and it offers much lower transaction fees.

    According to the estimates of Wallet Investor, the Cardano coin will be operating at a price level of $3.18 in a year’s time while the 5-year forecast places the cryptocurrency at a price of $10.45. Digital Coin Price predicts Cardano to end the year at a price level of $1.84 and reach $5.53 by 2028.

  • Ripple (XRP) Coin testing support level at $0.58

    Ripple (XRP) Coin testing support level at $0.58

    Ripple (XRP) has been overtaken by the bears as was the whole market after the bull run of 2021. The cryptocurrency is under consolidation as the price oscillates with no decisiveness. At the time of writing, the cryptocurrency stands at a price level of $0.60. The price has declined by 4% in the past twenty-four hours while the trading volume has increased by nearly 10%.

    The market sentiment for XRP crypto is bearish. Out of the total twenty-six technical indicators, fifteen are standing at a sell position with ten indicators giving out a neutral signal and only one bullish indicator of buy. The oscillators are mainly neutral while the moving averages are strongly bearish.

    Ripple (XRP)

    XRP crypto has been testing various support levels on its downward trajectory. The cryptocurrency has broken many support levels – turning them into resistances. At the moment, XRP coin is testing the support level at $0.58. If the support level fails to hold then future predictions for XRP may turn bearish. The price target in the case of a bearish scenario would be at $0.41.

    Ripple Labs vs. SEC lawsuit

    The firm behind XRP had been tangled in a legal battle since December 2020. Both the parties have been delivering brutal blows; however, no decision has been reached yet and the legal battle do not appear to approach an end anytime soon. The SEC alleges that Ripple Labs has been involved in the sale of XRP as unregistered security while Ripple Labs states that the SEC is singling out XRP. In a recent move, the counsel of Ripple Labs has moved towards deposing a high-level executive at the SEC – SEC’s former director of Division of Corporation Finance. The council believes that the deposition will reveal why SEC is treating XRP different than cryptocurrencies like Bitcoin and Ethereum.

  • Polygon (MATIC) coin price prediction – Towards $3?

    Polygon (MATIC) coin price prediction – Towards $3?

    Polygon (MATIC) is on a sharp downward trend after a brief consolidation move. At the time of writing, the cryptocurrency stands at a price level of $0.87. The price has moved downwards by 10% in the past twenty-four hours alone while the trading volume has gone up by 5%. In the weekly timeframe, Polygon has declined by 24%.

    Polygon (MATIC) technical analysis

    The market outlook for cryptocurrency is bearish as the downtrend has been confirmed. Out of the total twenty-six technical indicators, fourteen are giving out a signal of sell with nine indicators standing at a neutral position and three bullish signals. The oscillators are neutral while the moving averages are strongly bearish.

    Polygon (MATIC) technical analysis
    Polygon (MATIC) technical analysis

    Polygon crypto has been operating in a triangular formation. The cryptocurrency has been moving downwards inside the formation and is approaching the end of the formation. Although MATIC crypto is under strong bearish pressures, the trader’s analysis is bullish in the future. As Polygon approached the end of the formation, a revival of bullish momentum may be seen which will ultimately lead the cryptocurrency towards an upside break out from the formation. The price target of $3 will be activated for MATIC coin is the bulls dominate the market.

    Polygon (MATIC) price prediction

    Polygon (MATIC) is a scaling solution for Ethereum which has been under the spotlight during the bull run of 2021. The cryptocurrency is believed to be full of potential as with its help Ethereum can be transformed into a multi-chain network. The long-term price projections for the cryptocurrency are bullish. According to the estimates of Wallet Investor, Polygon crypto will be operating at a price level of $4 in a year’s time while the 5-year forecast places the cryptocurrency at a price of $16. Digital Coin Price projects the cryptocurrency to cross the $4 mark too but in 2028.

  • Monero (XMR) coin bullish price prediction despite short-term bearishness

    Monero (XMR) coin bullish price prediction despite short-term bearishness

    Monero (XMR) has been trending downwards since the all-time high was established in the beginning of May. The cryptocurrency continues with indecisive price action before moving lower. At the time of writing, Monero stands at a price level of $196. The price of the cryptocurrency has dropped by 6% in the past twenty-four hours while the trading volume is also moving down. XMR coin has also been moving down in the weekly timeframe with a loss of 13%.

    Monero (XMR) technical analysis

    The market outlook for the cryptocurrency is bearish. Out of the total twenty-six technical indicators, fifteen are giving out an indication of sell with ten indicators standing at a neutral position and only one indicator suggesting a buy. The oscillators are neutral while the moving averages are strongly bearish.

    Monero (XMR) technical analysis
    Monero (XMR) technical analysis

    Although Monero coin has been trending downwards, the cryptocurrency may show signs of oncoming bullish momentum soon. A trader’s analysis reveals two supporting levels for the cryptocurrency. Given the bearish pressure in the market, XMR crypto was expected to move lower; however, it moved upwards instead. Monero is approaching the support level which lies at $200. If the support is established then some bullish divergence can be restored to the market.

    Is Monero (XMR) a good long-term investment?

    Monero (XMR) is one of the top privacy coins in the market. As concerns about privacy of cryptocurrencies are increasing, privacy coins like Monero are gaining more popularity – which makes them an ideal long-term investment. Although there are downsides of increased privacy and anonymity, privacy coins are still considered an attractive proposition. The long-term price prediction for Monero is bullish. The estimates of Wallet Investor places Monero coin at a price level of $350 in a year’s time while the 5-year forecast predicts a price of $889. Digital Coin Price projects a similar trajectory for the cryptocurrency. Per their projections, Monero will end the year with a price of $301 and move towards $850 in 2028.

  • THORChain (RUNE) coin bearish momentum to continue?

    THORChain (RUNE) coin bearish momentum to continue?

    THORChain (RUNE) had begun an upside move in the recent timeframe; however, the bulls could not be sustained as the cryptocurrency fell towards bearish pressure in the market. At the time of writing, THORChain is standing at a price level of $5.54. The price has declined by 5% in the past twenty-four hours while the trading volume has increased by 10%. The weekly performance of the cryptocurrency has also been subpar as it fell by more than 25%.

    THORChain (RUNE) technical analysis

    The market sentiment for the cryptocurrency is bearish. Out of the twenty-four technical indicators, fifteen are giving out a signal of sell with eight indicators standing at a neutral position and only three indicators giving out a bullish signal.

    THORChain (RUNE) technical analysis
    THORChain (RUNE) technical analysis

    THORChain (RUNE) had been operating in a descending channel formation since May. The cryptocurrency has been oscillating inside the formation with high volatility but the volatility can also be observed to be declining. Currently, RUNE coin has entered a horizontal channel marked by minor resistance and support levels at the boundaries. The upcoming price action of the cryptocurrency will prove to be crucial for its future analyses. The technical currently indicate towards the continuation of the bearish trend in the market. The decreasing volatility also hints towards the stabilization of the price in a bearish trend.

    What is THORChain (RUNE)?

    THORChain is based on the blockchain of Cosmos – also dubbed as “the internet of blockchains”. THORChain aims to enable the cross trading of different assets in order to unlock liquidity in the market. The working of the network is similar to crypto exchanges where one asset can be exchanged for another but the caveat is that all of this is done in a complete decentralized manner. THORChain also has a decentralized exchange by the same name. The network can be regarded as the stepping stone towards total decentralization of the crypto space.

  • Kusama (KSM) coin – Parachain auction to push KSM towards $600?

    Kusama (KSM) coin – Parachain auction to push KSM towards $600?

    Kusama (KSM) has been trending downwards after showing some bullish momentum in early July. At the time of writing, Kusama stands at a price level of $181.93. The price has fallen by 8% in the past twenty-four hours while the trading volume has fallen by 4%. Kusama has been one of the worst performing cryptocurrencies in the weekly timeframe. The cryptocurrency has fallen by 24% in the past seven days.

    The market outlook for cryptocurrency is bearish. Out of the total twenty-six technical indicators, fifteen are giving out a signal of sell with nine indications standing at a neutral position and. Only two indicators suggesting a buy.

    Kusama (KSM)

    Kusama (KSM) had been operating on a coherent wave count. The cryptocurrency has completed the first two waves of the series which were marked by bearish momentum. The third wave of the series is expected to take the cryptocurrency to new heights. The fourth wave lies at the target price of $382. This may be a more bullish scenario but with the parachain auction on the network ending soon, anything can be expected from Kusama’s network.

    The analysis might not be too off as the future prediction for Kusama are very bullish. According to the estimates of Wallet Investor, Kusama is expected to have a price level of $651 in a year’s time while the five-year projection places the cryptocurrency at a staggering price of $2392.

    Kusama (KSM) parachain auction

    Kusama is parallel to a test network for Polkadot. The blockchain is meant for experimental purposes to boost innovation and increase interoperability of the blockchain. The widely-anticipated parahcain launch of the Kusama network started earlier this month. The parachain auction on Kusama started on July 8th. Projects bid by buying KSM to get their names on the few available parachain slot. The first three auctions resulted in Karura, Moonriver, and Shiden Network winning slots. The remaining two auctions will be marked by high competitiveness as the projects’ bids are quite close to each other unlike the first three where the winners were distinct.

  • Enjin Coin (ENJ) – Bulls to lead ENJ towards $12

    Enjin Coin (ENJ) – Bulls to lead ENJ towards $12

    Enjin coin (ENJ) had been one of the well performing cryptocurrencies in the past week. ENJ crypto had gained by nearly 20% in the past seven days. It has embarked on an upward trajectory with the bulls in power in the market. At the time of writing, Enjin Coin stands at a price level of $1.36. The price has increased by nearly 5% in the past twenty-four hours alone while the trading volume had been dropping.

    Enjin Coin (ENJ) technical analysis

    The market sentiment for the sixty-ninth largest cryptocurrency is bullish on account of the uptrend. Out of the total twenty-six technical indicators, twelve are giving out a signal of buy with nine indicators standing at a neutral position and only five at a sell position. The oscillators are neutral while the moving averages are bullish.

    Enjin Coin (ENJ) technical analysis
    Enjin Coin (ENJ) technical analysis

    The recent bullish momentum in the market for Enjin Coin has led to optimism about the future. Enjin Coin had been identified by a trader to be operating in a triangular formation. However, the bullish momentum has also led to the cryptocurrency forming an ascending channel inside the triangular formation.

    Enjin Coin can be observed moving near the upper boundary – the strong resistance level – of the triangle. A break from the triangle to the upside will further boost the bullish momentum. However, it is expected that Enjin Coin will not be successful in breaking the resistance as of yet. But it will ultimately break out of the formation to the upside. The price target has been set at $12 for Enjin Coin.

    Enjin Coin (ENJ) price prediction

    Wallet investor furthers the bullish price prediction of the technical analysis. Per their estimates, Enjin Coin will be treading close to $12 in five years’ time. The price after one year is expected at $2.70. According to the estimates of Digital Coin Price, Enjin Coin will end the year with a price of $2.29 while the price in 2028 is expected to be $6.8.

  • Shiba Inu (SHIB) coin – H&S pattern to confirm bullish momentum

    Shiba Inu (SHIB) coin – H&S pattern to confirm bullish momentum

    Shiba Inu (SHIB) has been oscillating up and down since the market crash. Currently, the volatility of the cryptocurrency has declined and the price movements has turned indecisive. At the time of writing, Shiba Inu is standing at a price level of $0.0000078. The price and the trading volume have increased by only 2% in the past twenty-four hours.

    Shiba Inu (SHIB) technical analysis

    The market outlook for cryptocurrency is bearish. Out of the total twenty-six technical indicators, nine are giving out a sell indication while nine are standing at a neutral position and four are bullish. The oscillators are neutral while the moving averages are strongly bearish. However, the bearish trend in the market may soon be reversed.

    Shiba Inu (SHIB) technical analysis
    Shiba Inu (SHIB) technical analysis

    Shiba Inu (SHIB) has been identified to be forming an inverse head and shoulder pattern. The cryptocurrency has almost completed the formation and it is under the development of right shoulder. If the price of the cryptocurrency breaks the neckline, the H&S formation will be validated and, hence, the bullish momentum in the market. The confirmation of the bullish divergence in the market will lead to the activation of various price targets.

    Shiba Inu (SHIB) price prediction

    Shiba Inu (SHIB) has bullish price predictions in the future as it is considered one of the best projects in the meme coin category. The meme coins are led by Dogecoin and Shiba Inu has been regarded as strong competition to Dogecoin. According to the estimates of Digital Coin Price, Shiba Inu will end the year with a price level of $0.000012. By the end of 2028, Shiba Inu will be valued at $0.000039. Wallet Investor is more bullish on cryptocurrency. The estimates of Wallet Investor place the cryptocurrency at a price level of $0.000021 and the five-year forecast $0.000072.