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Tag: Technical Analysis

  • Uniswap (UNI) coin price prediction

    Uniswap (UNI) coin price prediction

    Uniswap (UNI) is on a downhill trend. At the time of writing UNI coin stands at a price level of $17. The price has slightly increased in the daily timeframe, although not so much to reverse the bearish trend. The daily trading volume is falling rapidly with a decrease of 35% in the past twenty-four hours. Uniswap is the eleventh largest cryptocurrency in the market and one of the most famous decentralized exchange.

    Uniswap (UNI) Technical Analysis

    The market sentiment for Uniswap is bearish. Out of the total twenty-six technical indicators, fourteen are giving out a signal of sell while ten stand at a neutral position with only two indications of buy. The oscillators are neutral in the twenty-four-hour timeframe while the moving averages are strongly bearish.

    Uniswap (UNI) technical analysis
    Uniswap (UNI) technical analysis

    Uniswap has broken off from an ascending channel formation as the bearish momentum overtook the market. UNI crypto had been declining quicky along a downward resistance line. The cryptocurrency is fast approaching a strong support level at $13. UNI coin is expected to stabilize in the region and if the support level holds, Uniswap will be able to reverse its trajectory. In that scenario, Uniswap’s first price target would lie at the Fibonacci retracement level of 0.382 which lies parallel to the price level of $25 followed by $32.

    Uniswap (UNI) future in 2021

    The future projections of Uniswap (UNI) are extremely bullish despite the recent downtrend in the market. Wallet Investor’s projections show the coin to reach towards $70 in one year while the five-year forecasts project a staggering price level of $274. Digital Coin Price’s projections are not as bullish but Uniswap is still expected to go up. Uniswap is predicted to be operating at $50 in 2025.

  • Is Stellar Lumens (XLM) coin a good investment in 2021?

    Is Stellar Lumens (XLM) coin a good investment in 2021?

    Stellar Lumens (XLM) is on a downtrend as the whole crypto market continues to be bearish. Lumens has fallen from a 52-week high of $0.79 to $0.26. At the time of writing, XLM coin stands at a price level of $0.2609. The price has shown a minor upside move in the past twenty-four hours but the overall sentiment is bearish. The daily trading volume of the coin is also dropping.

    Stellar Lumens (XLM) technical analysis

    Despite the bearish momentum in the market, Stellar Lumens has been identified to be on an ascending wave count. XLM coin is operating in a bullish falling wedge formation and is approaching the end of the formation. An upward wave count has been initiated by the cryptocurrency – as per an analysis. If the analysis is validated, Stellar Lumens can be expected to reach out towards $0.60.

    Stellar Lumens (XLM) technical analysis
    Stellar Lumens (XLM) technical analysis

    Wallet investor’s predictions forecast that Lumens will be priced at a price level of $0.599 in one year while the 5-year forecast shows a price level of $1.855. Digital Coin Price is not as bullish on the cryptocurrency and forecasts a price level of $0.88 in 2025.

    Is Stellar Lumens a good investment? 

    Stellar Lumens acts as a bridge between digital currencies and fiat currencies. Stellar blockchain supports the digital version of fiat currencies with its own token lumens to run on the blockchain. The founder of Stellar Lumens is Jed McCaleb who also co-founded Ripple. It is a fork of Ripple but while Ripple serves major financial institutions, Stellar is more inclusive and targets under-developed areas and niches – which also makes it unique. Stellar’s aim is somewhat altruistic. Stellar Lumens has established a repute for itself and is considered to become an integral part of the digitized world.

    Cryptocurrencies are notoriously known for their riskiness which makes them so appealing to the masses. Lumens is one of the top cryptocurrencies, currently standing at the nineteenth position in terms of capitalization with good future prospects.

  • Cardano (ADA) coin price prediction 2021

    Cardano (ADA) coin price prediction 2021

    Cardano (ADA) is on a bearish turn. The cryptocurrency has been trending downwards since early June. In the twenty-four-hour timeframe too, ADA coin started off from $1.349 and is standing at a price level of $1.31 at the time of writing. The price movements of ADA coin reveal a minor upside movement as well while the daily trading volume has dropped by nearly 30%.

    Cardano (ADA) technical analysis

    The market sentiment for ADA crypto remains strongly bearish with a majority of the technical indicators giving out a signal of sell. Out of the twenty-six technical indicators, eleven are giving out a signal of sell, ten stand at a neutral position while give indicators suggest a buy. The oscillators are neutral while the moving averages are bearish.

    Cardano (ADA) technical analysis
    Cardano (ADA) technical analysis

    The bears have gripped the ADA market and the crypto market, in general. A trader has identified a downward trajectory for ADA coin. Cardano is expected to continue declining in 2021 until it reaches an ascending support line. The intersection is expected to occur at a price level of $0.59. Hence, the cryptocurrency may fall below $1 and much lower if it does not establish strong support.

    The year is going to be decisive for Cardano as there is a possibility of dropping below major support levels. While the technicals suggest bearish divergence in the market, price prediction websites continue to display a bullish prediction for Cardano. Wallet Investor forecasts the price of Cardano to be at $3.23 in a year’s time.

    Cardano’s integration with Orion

    IOHK, the firm behind Cardano, has entered into a strategic partnership with the trading platform Orion. Orion has announced to integrate Cardano into trading terminal – allowing Cardano users to trade assets on the platform. The aim of the partnership is to increasing the transaction volume of Cardano’s blockchain and further its development.

  • Quant (QNT) coin’s bullish momentum to end soon?

    Quant (QNT) coin’s bullish momentum to end soon?

    Quant (QNT) has been one of the best performing cryptocurrencies in the past week. Quant has had gains of 50% in the past seven days. Quant is skirting near its all-time high of $63 but facing strong resistance at the moment. At the time of writing, Quant stands at a price level of $61. The price has moved up by 6% in the past twenty-four hours while the daily trading volume has declined by 8%.

    Quant (QNT) Technical Analysis

    The market sentiment for the cryptocurrency is bullish. Out of the total twenty-six technical indicators, fifteen are giving out a signal of buy while nine stand at a neutral position with only two indications of sell. The oscillators have stayed neutral over the past week while the weekly moving averages suggest a strong uptrend in the cryptocurrency.

    Quant (QNT) technical analysis
    Quant (QNT) technical analysis

    The Bollinger Band analysis for Quant suggest that the cryptocurrency may be in oversold conditions. The Bands are widening which suggest increasing volatility for the cryptocurrency. The one-year price forecast by Wallet Investor suggests that the cryptocurrency will be trading at a price $119 while the five-year price prediction places the cryptocurrency at a price level of $365.

    What is Quant (QNT)?

    Quant is ranked at ninety-sixth position in terms of market capitalization. Quant was launched in 2018 with the aim of increasing the interoperability of blockchains in the industry. While a lot of scaling options exists for multiple blockchains, Quant targets the lack of interoperability in the blockchain space through an innovative approach. Quant is regarded as the first blockchain operating system for increasing the interoperability of blockchains. The underlying platform of Quant cryptocurrency is the Overledger Network. The Overlegder Network acts as an operating system and; hence, a bridge for different blockchains.

  • Cardano (ADA)’s “weird cult” status and potential price target at $5

    Cardano (ADA)’s “weird cult” status and potential price target at $5

    Cardano (ADA) has been consolidating ever since the low of the market crash was established. The price movements have been indecisive so far with no trend being established, At the time of writing, Cardano (ADA) stands at a price level of $1.58. The price has been increasing in the daily timeframe while the daily trading volume has been falling.

    Cardano (ADA) Technical Analysis

    The market sentiment for cryptocurrency is bullish. Out of the total twenty-six technical indicators, ten are giving out a buy signal, nine are standing at a neutral position while seven indicators are giving out a sell signal. The oscillators are neutral while the moving averages are suggesting an uptrend in the daily timeframe.

    Cardano (ADA) Technical Analysis
    Cardano (ADA) technical analysis

    Cardano (ADA) has been established a horizontal resistance as strong support. The cryptocurrency has been somewhat stable in the region ever since. With highly erratic price movements, Cardano is expected to soon pick up the bullish momentum and reach toward higher highs. A trader’s analysis has identified the price level of $5 as a possible long-term target. Digital Coin Price’s forecast show that the cryptocurrency may reach $5 2026.

    What can cause price fluctuations of Cardano (ADA)?

    High profile figures have been vocal about the cryptocurrency – some in a positive note while others not so much. Ethereum co-founder Anthony Di Lorio is bullish on two cryptocurrencies right now – Cardano and Polkadot. Di Lorio revealed in an interview that he has a good investment in Cardano and Polkadot. The reason behind the bullishness of these cryptocurrencies is the co-founder’s believe in the team managing the projects. Di Lorio thinks both the projects are being managed by goal-oriented people who will help these projects excel.

     

    On the other hand, billionaire Mike Novogratz thinks Cardano is a “weird cult”.Novogratz had quite a few negative things to say about Cardano in a conversation with Yahoo Finance. The billionaire is shocked by the overvaluation of Cardano. Cardano co-founder Charles Hoskinson regarded the billionaire as just being bitter because of the lack of a good entry point for him.

  • Kusama (KSM) coin towards $500 as parachain auction nears?

    Kusama (KSM) coin towards $500 as parachain auction nears?

    Kusama (KSM) is on an uptrend since the establishment of its market crash low. The cryptocurrency is soaring high partly due to the parachain auction to be held soon on the network. At the time of writing, Kusama coin stands at a price level of $422. The price has increased by 5% in the past twenty-four hours while the daily trading volume has declined by 5%.

    Kusama (KSM) Technical Analysis

    The market sentiment for Kusama (KSM) is bullish. Out of the twenty-six technical indicators, fifteen are giving out a signal of buy with nine standing at a neutral position and only two indications of sell. Both the oscillators and moving averages are bullish.

    Kusama (KSM) technical analysis
    Kusama (KSM) technical analysis

    Kusama coin is highly bullish even though the larger crypto market remains bearish or neutral. In the shorter timeframes, Kusama is moving downwards but the cryptocurrency can find strong support at $380. The analysis suggests that the bulls may soon overtake the cryptocurrency. A major chunk of the technical as well as the fundamentals suggest Kusama to reach higher and break the resistance level at $500. If the price target of $500 is broken, the next potential target at $645 will be activated.

    Kusama (KSM) parachain auction

    Kusama has been soaring high as the cryptocurrency nears its parachain auction. Kusama and Polkadot, together, are taking the integrability of the blockchain space to the next level. Both the blockchains will connect 100 parachains into Polkadot’s central Relay Chain. However, with a limited number of parachain being facilitated, parachains will be chosen via an auction. With bids touching the sky, the parachain launch will mean sky-high process for KSM and DOT. Karura Network has raised $100 million in a crowd fund to bid on the auction.

  • Chiliz (CHZ) coin – Decisive price action ahead

    Chiliz (CHZ) coin – Decisive price action ahead

    Chiliz (CHZ) has been on a downtrend ever since establishing its all-time high at $0.77 in April. CHZ crypto has entered a consolidation phase recently. The indecisiveness of the market may entail the onset of a price rally for the cryptocurrency. At the time of writing, CHZ coin stands at a price level of $0.28. The price has increased by 5% in the past twenty-four hours while the daily trading volume has declined by 30%.

    Chiliz (CHZ) Technical Analysis

    The market sentiment for Chiliz crypto has turned bullish despite the general bearish outlook of the overall crypto market. Out of the total twenty-six technical indicators, ten are giving out a signal of buy while nine stand at a neutral position with only seven signals of sell. The oscillators are neutral while the moving averages suggest an uptrend in the daily timeframe.

    Chiliz (CHZ) Technical Analysis
    Chiliz (CHZ) Technical Analysis

    Traders and analysts have turned bullish on the cryptocurrency – suggesting a long position – as CHZ coin picked up the pace. Per an analysis, CHZ crypto has been operating in a descending channel formation. The cryptocurrency had stabilized inside the channel as price started consolidating with a strong level of support. However, Chiliz coin showed increased bullish momentum as it reached upwards to break out of the formation but as the upper boundary of the formation is acting as strong resistance, CHZ failed. CHZ can now either test the support level at $0.1 to reach back upwards to higher highs.

    What is Chiliz (CHZ)?

    Chilizis another application of blockchain technology in the entertainment sector. The cryptocurrency is one of the leading ones in the sport and entertainment industry. CHZ is the native token of the world’s first engagement and reward platform for fans based on the blockchain, Socios.com. The aim of the platform is to ultimately create a Fan Token which tokenizes and shares the collective influence of active and passive fans.

  • Ethereum (ETH) coin to break the strong resistance at $2,500?

    Ethereum (ETH) coin to break the strong resistance at $2,500?

    Ethereum (ETH) is not moving in tandem with the king of cryptocurrencies, Bitcoin, which is bullish. Ethereum having a high correlation with BTC coin often completely mirrors Bitcoin but the current scenario indicates towards the dominance of bears for ETH crypto. ETH coin has been consolidating ever since the price hit a low of around $2,000 amidst market corrections. At the time of writing, ETH stands at a price level of $2,496. The price has moved up by 4% in the daily timeframe while the weekly metrics suggests a fall of 10% in the cryptocurrency.

    Ethereum (ETH) Technical Analysis

    The market sentiment for ETH continues to be bearish as the cryptocurrency tries to tackle the bears. Out of the total twenty-six technical indicators, ten stand at a sell position and ten are giving out a neutral signal while the buy signals are only six. The oscillators are neutral while the moving averaged are strongly bearish.

    Ethereum (ETH) technical analysis
    Ethereum (ETH) technical analysis

    The $2,500 price level is acting as a strong psychological resistance for Ethereum. The cryptocurrency has failed various times to break the resistance. A trader has identified ETH crypto to be operating on an impulse wave. The cryptocurrency has completed the first wave and is underway completing the second. Per the analysis, Ethereum is going to break the major resistance level at $2,500 if the impulse wave is validated. The trader suggests the price level of $2,551 to be the potential price target for ETH.

    High dollar inflow into ETH

    While ETH frequently finds itself in the ETH vs. BTC debate, the crypto is definitely ruling over other cryptocurrencies. CoinShares’ weekly report reveals a high inflow of investment into ETH and other cryptocurrencies. Ethereum proves to be the favorite altcoin of investors with the high inflow of $33 million while XRP attracted inflow of $7 million and followed by $4.5 million of Cardano.

  • THETA coin upside breakout ahead of mainnet launch?

    THETA coin upside breakout ahead of mainnet launch?

    Theta (THETA) had been one of the defy-ers of the bears of the market crash as after a minor setback the cryptocurrency had been moving upwards – although Theta had been trending downwards in the longer timeframes. Theta failed to break out of the downtrend as it pushed upwards and is falling, once again. At the time of writing, the cryptocurrency stands at a price level of $8.40. The price has declined by 7% in the past twenty-four hours while the daily trading volume has gone down by nearly 50%.

    Theta (THETA) Technical Analysis

    The market sentiment of the eighteenth largest cryptocurrency is bearish. Out of the twenty-six technical indicators, ten are giving out a signal of sell while nine stand at a neutral position and seven are bullish signals of buy. The oscillators are neutral while the moving averages are bearish – suggesting a strong downtrend.

    Theta (THETA) technical analysis
    Theta (THETA) technical analysis

    Theta coin has been identified to be operating in a triangle formation. The cryptocurrency is nearing the end of its formation and a break out is in the books. The price volatility of Theta makes it unclear whether the bears are weighing the bulls down or vice versa. Currently, Theta can be seen testing the resistance at the upper boundary which can be taken as a favorable indication of an upside break out.

    Theta’sMainnet 3.0 launch

    The fundamentals support an upward break out of Theta as the mainnet 3.0 launch is scheduled for June 30th. The news of the launch has been responsible for the recent upside jumps of both Theta and Theta Fuel – tokens of the Theta network. The network also launched a one-click delegated staking to make yield farming much easier which excited the community. Historical price movements also suggest a price rally to be expected as the mainnet launch nears – as was observed during past launches.

  • Filecoin (FIL) to test support at $40?

    Filecoin (FIL) to test support at $40?

    Filecoin (FIL) was one of the top performers during the market crash. While the cryptocurrencies were moving down, Filecoin was on a strong uptrend. However, that is not the case anymore as Filecoin fell by 23% in the past week. Sat the time of writing, Filecoin stands at a price level of $73.08. The price has declined by 6% in the daily timeframe while the daily trading volume also fell by nearly 35%. A period of consolidation may be upcoming for the twenty-third largest cryptocurrency.

    Filecoin (FIL) Technical Analysis

    The market sentiment for Filecoin is bearish. Out of the total technical indicators, eleven are giving out a signal of sell while ten stand at a neutral position with only three indications signaling buy. The oscillators are neutral while the moving averages are majorly bearish.

    Filecoin (FIL) technical analysis
    Filecoin (FIL) technical analysis

    After a bullish cross of the 50-MA with the 200MA and the 200-EMA, the cryptocurrency was expected to move upwards; however, the bears overtook the market and Filecoin started off on a downward trend. Filecoin is expected to test various important levels on its downward trajectory. The price may show instability as it tries to find a supporting level. A trader’s analysis shows that the major support level lies at $40. However, the price may not fall so drastically unless the bears are extremely strong. The upside targets for the cryptocurrencies lies at $123 followed by $130.

     

    Filecoin (FIL) – Threat to cloud storage

    Filecoin (FIL) is a decentralized storage platform. It acts as a marketplace for buyers and sellers of storage. As we move into digitization, data will become even more abundant and storage of data a greater problem. There has been a recent spike in the demand for cloud storages from Amazon, Microsoft etc. However, the proposition of Filecoin has the potential to kick out centralized storage providers like these tech giants. Filecoin may prove to be a nuisance for the centralized market leaders as some believe decentralized storage is the future of a decentralized world.