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Tag: Technical Analysis

  • AMP Coin bulls dominant – What to expect?

    AMP Coin bulls dominant – What to expect?

    Amo (AMP) may become a new favorite of investors as the cryptocurrency showed phenomenal performance in the past week. While most of the top hundred cryptocurrencies were crashing, Amp coin skyrocketed 118% in the weekly timeframe. Amp has established a new all-time high at its current price of $0.082. the price has increased by 40% in the past day while the daily trading volume has jumped up by 600%. Amp has now become the thirty-first largest cryptocurrency in terms of market capitalization.

    Amp (AMP) Technical Analysis

    The market sentiment for Amp crypto is strongly bullish. Out of the total twenty-six technical indicators, sixteen are giving out a signal of buy while nine stands at a neutral position and only one indication signal towards sell. The oscillators are neutral while the moving averages are strongly bullish.

    Amp (AMP) technical analysis
    Amp (AMP) technical analysis

    Amp crypto has been identified to be operating on a strong uptrend. The cryptocurrency had started gaining in March while it stayed immune to the bulls of the market during the first two months of the year. Once Amp coin picked up the pace, it has been growing at an incredible pace. Amp crypto has been achieving higher highs and establishing new all-time high throughout the period. The strong uptrend of the cryptocurrency is expected to continue in the coming days.

    What is Amp?

    Amp is a token based on the Ethereum blockchain. The digital asset token collaterize payments on Flexa Network. Flexa Network allow vendors to use crypto as collateral for payments made in cryptocurrencies. Amp coin is used to collaterize payments as vendors await confirmation of crypto payment. Amp increase efficiency on the network enabling value to move quickly by solving problems like slow transaction confirmation time and price volatility. Amp coin can also pave the path towards increased adoption of cryptocurrencies as payments.

  • EOS coin – decisive price movements upcoming

    EOS coin – decisive price movements upcoming

    EOS is trending downwards after a brief stinch upwards subsequent to the market crash. Like all the major cryptocurrencies, EOS also appears to be in a consolidation phase with no trend confirmed as of yet. The price of EOS coin is oscillating wildly. At the time of writing, EOS stands at a price level of $5.40. The price of the cryptocurrency has increased by 10% in the daily timeframe while the daily trading volume has declined by the same percentage.

    EOS Technical Analysis

    The market sentiment for EOS coin is bearish – as is for most cryptocurrencies. Out of the total technical indicators, thirteen are giving out an indication of sell with nine standing at a neutral position and only four indicators at a bullish buy. The oscillators are neutral while the moving averages are strongly bearish.

    EOS technical analysis
    EOS technical analysis

    EOS appears to be operating in a triangular formation. The price has been oscillating but moving gradually upwards in the formation. Given the recent bullish move of EOS, a break out to the upside can be expected. If EOS regains bullish momentum and breaks out upwards the potential price target at $7.16 will be activated. However, EOS coin can also breakout to the downside or fail to sustain bullish momentum after a positive break out. If the lower boundary of the formation fails to act as strong support for EOS, then the price level of $4.66 can be expected to uphold the cryptocurrency. The upcoming price action will determine the trend of the cryptocurrency.

    What is EOS?

    Eos is a platform built to facilitate the use and creation of decentralized applications. EOS’s platform provides the full range of educational resources and tools that are required to aid programmer in the dApp building process. The aim of EOS coin is to help boost the adoption of dApps and blockchain technology. EOS’s blockchain also aims to provide greater scalability and security to users.

  • PancakeSwap (CAKE) coin to break $29 soon?

    PancakeSwap (CAKE) coin to break $29 soon?

    PancakeSwap (CAKE) is currently under consolidation. After the low of the market crash, PancakeSwap is oscillating with high volatility and the market being indecisive. At the time of writing, PancakeSwap stands at a price level of $18.50. The price has increased by 11% in the past twenty-four hours while the daily trading volume has declined by 10%. PancakeSwap stands at thirty-first place in the market in terms of capitalization – which has also increased by 12%.

    PancakeSwap (CAKE) Technical Analysis

    Despite the recent bullish divergence in the market, the market sentiment for cryptocurrency is bearish. Out of the total twenty-six technical indicators, ten are giving out a signal of the sell while nine stand at a neutral position and only five indicators are bullish with a buy signal. Out of the five bullish signals, four are from moving averages; however, the overall indication from moving averages also suggest a downtrend while the oscillators are neutral.

    PancakeSwap (CAKE) technical analysis
    PancakeSwap (CAKE) technical analysis

    PancakeSwap has been identified to be operating in an upward channel formation. CAKE coin is expected to climb upwards in the channel after a period of consolidation. The price level of $15 is expected to be acting as a strong support level for CAKE crypto while the first major resistance lies at $19. If the CAKE coin is able to break the resistance at $19, it will activate the price target at $29.

    PancakeSwap (CAKE) price prediction

    In the long-term timeframe, PancakeSwap can prove to be an excellent investment opportunity although the short-term prospects are not bad either. According to the projections of Wallet Investor, the cryptocurrency is expected to be operating at $66 by the end of one year while the five-year forecast show CAKE at a staggering $250. Digital Coin Price is not that bullish on CAKE but bullish nonetheless. According to their estimates, PancakeSwap will be standing at $27 by the end of the year and at $84 in five years’ time.

  • Litecoin (LTC) coin to gain bullish or bearish momentum?

    Litecoin (LTC) coin to gain bullish or bearish momentum?

    Litecoin (LTC) is struggling to maintain bullish momentum after the 7-day low of $145 during the market crash. The cryptocurrency has become increasingly volatile with a trend yet to be confirmed. At the time of writing, Litecoin stands at a price level of $173. The price has increased by more than 10% during the past twenty-four hours while the daily trading volume is also going up. Litecoin is ranked twelfth in the market in terms of capitalization.

    Litecoin (LTC) Technical Analysis

    The overall market sentiment for Litecoin is bearish. Out of the total twenty-six technical indicators, fourteen aregiving out a signal of sell with ten indicators standing at a neutral position and only two at a buy position. The oscillators are neutral while the moving averages suggest a strong downtrend of the cryptocurrency.

    Litecoin (LTC) technical analysis
    Litecoin (LTC) technical analysis

    A trader has identified the current price movements of Litecoin to be similar to the historical price action of 2017. Per the trader, Litecoin observed a 68% correction in 2017 after which it experienced a period of consolidation. It is after this that the cryptocurrency gained strong bullish momentum and established its all-time high. Litecoin has already observed a 68% correction during the market crash and it appears to be consolidating currently. If the scenario plays out, Litecoin can be seen reaching out for $1,300 – near the upper boundary of the ascending channel formation.

    Two key upgrades coming to Litecoin (LTC)

    Litecoin was once the top three cryptocurrencies. However, it has fallen drastically to twelfth place in the market. The new upgrade of the cryptocurrency may project the coin back to its golden days of top three. In an interview with Scott Melker, the founder of Litecoin Charlie lee has detailed two key upgrades that will increase the efficiency of Litecoin. The new upgrade is set to add fungibility and privacy to Litecoin – features that are crucial for money according to Lee.

  • Iota (MIOTA) to test support level at $0.92

    Iota (MIOTA) to test support level at $0.92

    Iota (MIOTA) has been struggling with bullish momentum ever since the market crash – like many cryptocurrencies. The cryptocurrency went to a 7-day low of $1.02 during the crash and the price has been highly volatile ever since. During the bull run of 2021, Iota could not sustain the bullish momentum for long as the cryptocurrency failed to reach close towards its all-time high of 2018. At the time of writing, Iota stands at a price level of $1.11. The price has been increasing in the daily timeframe – going up by 5%. The daily trading volume is also increasing.

    Iota (MIOTA) Technical Analysis

    Despite the recent bullish momentum, Iota is still struggling. The market sentiment for cryptocurrency is bearish. Out of the total twenty-six technical indicators, thirteen are giving out a signal of the sell while ten stand at a neutral position with only three indications of buy.

    Iota (MIOTA) Technical Analysis
    Iota (MIOTA) Technical Analysis

    The technical analysis for Iota does not show a promising future. The cryptocurrency has broken an up-trending line. The price level of $1.26 is a strong resistance where after a recent rejection, Iota crypto embarked on a downtrend. The cryptocurrency is expected to test major support levels soon by a trader. The first supporting price level can be found at $0.92 followed by $0.62 and $0.46.

    Iota live on testnet

    The co-founder of Iota Dominik Schiener has revealed that there have been significant developments in the testing of fully decentralized Iota network. The co-founder told his Twitter community that the Iota network has been live on the testament for several months now. On the testament, transactions on the iota network are free of costs. Pollen v0.5.5 is the initial part of Iota network’s three-phase strategy. The next part is Nectar which is expected to go live on Iota’s testnet in a few months. The organization behind Iota IOTA Foundation is going full-force with the developments of the network.

  • Chainlink (LINK) coin – What to expect?

    Chainlink (LINK) coin – What to expect?

    Chainlink (LINK) dropped to a low of $17 amidst the market crash. The cryptocurrency has been increasingly volatile ever since it picked back up. At the time of writing, Chainlink stands at a price level of $22. The price of LINK coin has declined by 7% in the daily timeframe while the daily trading volume has increased by 25%. Chainlink is on a downtrend and the low of $17 may be retested by the cryptocurrency.

    Chainlink (LINK) Technical Analysis

    The market sentiment for Chainlink is bearish. Out of the total twenty-six technical indicators, fifteen are giving out a signal of sell with ten standing at a neutral position and only one indication of buy. Both the oscillators and moving averages are bearish for LINK coin.

    Chainlink (LINK) Technical Analysis
    Chainlink (LINK) Technical Analysis

    Chainlink (LINK) has been identified on an upward trend by a trader. However, the recent bearish momentum in the market is expected to lead the cryptocurrency towards testing various important support levels. The first zone is from $10 to $20. If LINK coin cannot stabilize as low as $10 then it will enter $5 to $10 support zone. However, a trend reversal can also happen – given the recent increased volatility of the Chainlink coin. The identified trajectory is also expected for Bitcoin; hence, Chainlink is following the king of cryptocurrencies.

    What to expect from Chainlink (LINK)?

    Chainlink had risen to popularity with its unique proposition that connects enterprises with the blockchain. However, the recent volatility and majorly bearish momentum of the market has led to the cryptocurrency falling. Address data reveals that there haven’t been any recent increments to retail traders over the past month. Trader addresses holding LINK for less than a month have observed a drop as well. Overall, active addresses have shown low levels. The data may indicate that traders and investors are largely bearish and LINK may continue to spiral downwards.

  • Celsius (CEL) coin to reverse bearish trend?

    Celsius (CEL) coin to reverse bearish trend?

    Celsius (CEL) appears to be on an uptrend in the longer timeframes. Celsius Network token has yet to break below the low of the previous pullback at $6.26 for the uptrend to be invalidated. However, cryptocurrency has become increasingly bearish. At the time of writing, CEL crypto stands at a price level of $6.95. The price of cryptocurrency has declined by 5% in the past twenty-four hours while the daily trading volume has gone up by nearly 40%.

    Celsius (CEL) Technical Analysis

    The market sentiment for Celsius is majorly bearish. Out of the twenty-two technical indicators, nine are giving out a signal of buy while nine stands at a neutral position with four indications of buy. The oscillators are neutral while the moving averages are bearish.

    Celsius (CEL) Technical Analysis
    Celsius (CEL) Technical Analysis

    The Bollinger band analysis of Celsius crypto shows increased bearish momentum for the cryptocurrency. In the four-hour timeframe, Celsius’s price action is in expansion. As the Bollinger bands expand, the volatility of the cryptocurrency is proved to be increased. The expanded Bollinger bands hint towards further bearish momentum for CEL coin. Although an impulsive move usually follows after a downside pullback, the candles continue to be bearish majorly.

    Celsius Network (CEL) Price Prediction

    Although the native token of Celsius Network is suffering from bearish divergence, the long-term price predictions for the cryptocurrency are bullish. Digital Coin Price predicts CEL coin to be operating at a price level of $10.06 in one year’s time while the five-year projection places the cryptocurrency at $32.31. Long Forecasts predicts CEL coin to end the year at $16.99 while the price is projected to reach $43 by 2025.

    Celsius Network has recently announced a partnership with NBA athlete Spencer Dinwiddie. The athlete had been one of the most vocal advocates of blockchain technology. Dinwiddie will engage the community of Celsius through campaigns and social media appearances. Dinwiddie will be compensated through CEL coin.

  • AAVE coin soaring high – Towards $480?

    AAVE coin soaring high – Towards $480?

    Aave (AAVE) cryptocurrency has been trending upwards since the market crash. The cryptocurrency has increased by 5% in the past week. At the time of writing, Aave coin stands at a price level of $382. The price has gone up by 5% in the daily timeframe while the daily trading volume is declining.

    Aave (AAVE) Technical Analysis

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

    Aave (AAVE) Technical Analysis
    Aave (AAVE) Technical Analysis

    Aave coin is identified to be operating in a triangular formation. The cryptocurrency has been oscillating up and down in the formation with the boundaries acting as strong support and resistance. Per the analysis, Aave crypto is approaching the end of the formation which would mean a break out from the triangle is near. The bullish momentum of the cryptocurrency suggests an upward break out from the formation is more likely. If the scenario plays out, Aave crypto can reach towards $480.

    Aave soaring high but why?

    The cryptocurrency market crash may have hindered the growth of cryptocurrencies for a while but it certainly cannot invalidate the blockchain technology. Just after the market crash, Aave coin has become one of the top-performing cryptocurrencies to watch out for. Aave’s total value locked has surpassed $20 billion. Aave has been soaring high becoming one of the top DeFi projects in terms of total value locked (TVL).

    Aave coin has recently embraced the layer-2 scaling solution Polygon (MATIC) which has helped in the growth the project was able to achieve. Aave’s rate of adoption has increased too – partly thanks to Polygon. Aave’s monthly userbase of new users is 50% higher than other competing DeFi projects like Maker and Compound.

  • Cardano (ADA) coin – Going towards $2.40?

    Cardano (ADA) coin – Going towards $2.40?

    Cardano (ADA) has been increasingly volatile ever since the market crash. The cryptocurrency has been suffering from strong impulsive moves and pullbacks – yet to establish an up or downtrend. At the time of writing, Cardano (ADA) stands at $1.70. The price has increased only slightly in the past twenty-four hours while the daily trading volume has dropped by 30%. In the weekly timeframe, ADA coin has increased by 5%.

    Cardano (ADA) Technical Analysis

    The market sentiment for the fifth largest cryptocurrency is bullish overall. Out of the total twenty-six technical indicators, fifteen are giving out a buy signal while nine stand at a neutral indication with only two sell signals. The oscillators are neutral while the moving averages suggest a strong uptrend in the daily timeframe.

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

    Cardano crypto has been identified to be operating on an ascending trendline. ADA crypto is also under the formation of a coherent wave count – as identified by a trader’s analysis. Per the analysis, ADA coin is to continue its upward move into June where it can experience a strong pullback towards the upward trendline. However, the price level of $1.86 is a strong support level for the cryptocurrency and the trader expects ADA to stabilize in the region and regain bullish momentum. If the analysis plays out, ADA crypto can try to reach towards the price target of $2.41.

    Can Cardano go up to $2.40?

    The recent market crash has caused investors to panic. However, CoinShares – the digital asset manager – has revealed in a report that Cardano has been institutional favorite altcoin. The cryptocurrency has received an investment inflow of $5.2 million last week – making it one of the few favorites of investors at the moment. The total asset under the management of Cardano is at $27 million. The increasing institutional interest in Cardano hints towards increased bullish momentum for the cryptocurrency.

  • Algorand (ALGO) developments may lead towards $1.46

    Algorand (ALGO) developments may lead towards $1.46

    Algorand (ALGO) bearish momentum may have been dominated by the bulls as the new month began. ALGO coin had been struggling to gain bullish momentum but right into June, it started gaining traction. At the time of writing, Algorand was trading hands $1.07 apiece. Both the price and the trading volume has been increasing for the cryptocurrency in the past twenty-four hours.

    Algorand (ALGO) Technical Analysis

    The market sentiment continues to be bearish as the uptrend of the ALGO coin is to yet be confirmed. Out of the total technical indicators, ten are suggesting a sell signal while both neutral and buy indications stand at eight each. The oscillators are bearish while the moving averages have yet to confirm either an uptrend or a downtrend.

    Algorand (ALGO) Technical Analysis
    Algorand (ALGO) Technical Analysis

    Algorand broke out of a bearish formation after the market crash. The cryptocurrency has been projecting upwards while breaking resistance levels. The next resistance level lies at a price level of $1.19 followed by $1.23. As the ALGO coin appears to have some upward momentum, the resistance levels have been activated as potential price targets. If the cryptocurrency successfully breaks the price targets, the subsequent targets would lie at $1.43 followed by $1.46. Upcoming price action will prove to be crucial to confirm the trend of the cryptocurrency.

    Algorand developments to watch out for

    The Algorand blockchain has been in the news because of various developments going on in its ecosystem. The positive developments can result in a confirmed uptrend for the cryptocurrency. The crypto wallet Exodus had recently engaged in the largest “regulated crypto public offering” ever to be held – as dubbed by the firm. The firm sold $74 million common shares which are announced to be turned into tokens on the Algorand blockchain.

    Furthermore, Algorand had also been added, along with others, by Revolut for trading on its application. Reach, a platform working towards the simplification of blockchain apps, has managed to raise $12 million in seed funding. Reach currently works with Algorand and Ethereum. The platform will be focusing its efforts on the two blockchains.