Crypto News

Uniswap Price Falls Below $9 After It Met With A Sell-Off, What’s Next?

Uniswap price at the current moment has displayed a downward movement on its chart. The coin lost the $9 price mark and was moving closer to its local support level. Over the last 24 hours, UNI depreciated considerably by 6%. Most gains that UNI logged were lost over the past week. The technical indicator for UNI has depicted mixed trading signals. The buyers in the market have left owing to the recent fall in price. For Uniswap price to pick up momentum, buying strength and demand for the coin remain quite crucial. As selling pressure mounted, UNI started to flash bearish price signals on its chart. The price of the altcoin needs to experience a breakout for the bulls to drive the price momentum. The coin broke below its $8.40 support line and fell below that. An increase in demand for the coin can help UNI recover over the next trading sessions. Uniswap Price Analysis: Four-Hour Chart The altcoin was priced at $8.30 at the time of writing. Uniswap lost its immediate support line and the bears have changed that level to a resistance mark for the coin. Overhead resistance for the altcoin was at $8.76, however, a tough price ceiling for the altcoin was at $9.30. The coin has tried to break past the mentioned price mark a couple of times but was met with sellers in the market. The immediate price floor for the coin stood at $7.80. Although over the past few weeks UNI has recovered considerably, the demand for UNI has to keep growing. The volume of UNI traded in the last session has declined as there has been a fall in buying strength. Technical Analysis UNI had moved closer to the oversold zone over the last trading sessions, however, it did not touch that zone. At the moment, the coin has low buying strength but the coin was not overbought. The Relative Strength Index noted an uptick below the half-line signifying that the demand for the altcoin could register an increase over the next sessions. Uniswap price was seen below the 20-SMA line, this signalled bearishness in the market. It also depicted that the sellers were driving the price momentum in the market. Related Reading: Why Are Crypto Investors Rotating From Bitcoin To Altcoins? The altcoin has flashed bearish signals on most technical indicators. UNI registered a sell signal on the four-hour chart. Moving Average Convergence Divergence depicts the price momentum and change in the momentum. As demand for UNI has remained low, MACD underwent a bearish crossover and displayed red histograms. The red histograms were sell signal for UNI. Chaikin Money Flow determined the capital inflows and outflows. CMF was below the half-line as capital inflows were less than outflows at the time of writing. With increased demand and buying strength, the coin will attempt to move up on its chart. Related Reading: Ethereum Investors Close 300k Long Positions on Bitfinex, Rally To Stop Soon? Featured image from TechCentral, chart from TradingView.com

Crypto News

Chainlink Price Above $8, Can It Go Past Its Immediate Resistance?

Chainlink price has been trading in an upside channel over the past few trading sessions. The altcoin has managed to move past the $8 level, it is now eyeing the next important resistance mark. The technical outlook of the coin has turned positive as buying strength increased on the chart. Over the last 24 hours, the coin moved up the chart by 2% and in the past week, LINK logged 14.7% appreciation. Chainlink price also managed to revisit the $8.80 mark however, the coin has experienced tough resistance at that price mark. For Chainlink to move past the aforementioned price ceiling, buying strength has to remain high in the market. Once LINK topples over the $8.80 price ceiling, it could target $9, thereby, invalidating the bearish thesis completely. It is important to note that a small dip in demand for the altcoin can bring back the bears Chainlink Price Analysis: Four-Hour Chart LINK was priced at $8.72 at the time of writing. The altcoin retraced briefly after it touched the $8.80 price mark. The immediate price ceiling for LINK stood at $8.80 and a push above that level will propel Chainlink’s price to $10. The local support level for LINK was at $8.16 and a fall below that will make the coin trade near the $7.60 price mark. The amount of Chainlink traded in the past session increased. This reading meant that bullish pressure had started to build in the market and that buying strength increased over the last trading sessions. Technical Analysis The altcoin has depicted trading on an upside in an ascending trendline. Chainlink price formed higher highs and higher lows signifying positive price change. If LINK doesn’t break past the immediate resistance mark, the coin can lose its current price momentum. The altcoin had just visited the overbought zone after which it travelled south briefly. The Relative Strength Index was positive above the 60-mark depicting increased buying strength. Chainlink price was above the 20-SMA line. A reading above the 20-SMA line indicates that buyers were driving the price momentum in the market. Related Reading: The Bear Market Correction Could Be Over, According To ARK. Reasoning Inside LINK has depicted an increased buy signal on the four-hour chart. Indicators also captured the increase in demand. Moving Average Convergence Divergence portrays the current price momentum and possible reversals in the same. MACD underwent a bullish crossover and formed green signal bars on the indicator. These green signal bars are buying signals for the coin. If buyers continue to act on it, the Chainlink price could soon topple over $8.80. Parabolic SAR depicts the trend, the indicator, however, hasn’t painted a positive picture. It started to form a dotted line above the candlestick, this could be in the anticipation of a fall in price over the next trading sessions. Related Reading: Bullish Expectations From The Ethereum Merge Rise Post Chainlink’s Announcement Featured image from Yahoo Finance, chart from TradingView.com

Crypto News

MATIC Price Demonstrated Bullishness, How Soon Will It Touch $1?

MATIC price had been on a bearish trajectory for the past few days. Over the last week, the coin hasn’t made any progress in terms of price appreciation. In the last 24 hours however, MATIC registered a 2% increase in its market value. Currently Polygon MATIC price is slightly underneath the $1 price mark. Price of MATIC has been stuck below the $1 mark for months now, every time the bulls start to pick up momentum, the coin was met with selling pressure. For MATIC to invalidate the bearish thesis completely, it is important that the coin trades above the $1 mark for a considerable duration. Technical outlook for the coin has turned positive however, this positive reading could soon lose steam if buying strength doesn’t remain consistent over the next trading sessions. At the current moment, MATIC has registered increased number of buyers compared to sellers. MATIC price still has to encounter a tough resistance at the $1 mark. The coin hasn’t been able to break past that resistance for months now. A small decline in price would push MATIC price to $0.74 before another potential rally. MATIC Price Analysis: Four Hour Chart The price of the altcoin was $0.92 at the time of writing. MATIC price was trading close to its $1 price mark, the bulls tried to push price towards the $1 mark at the end of last month but it was invalidated by sellers in the market. A strong overhead resistance for MATIC was at $1. A fall from the present price level will drag the altcoin down to $0.73 and then eventually to $0.68. Amount of MATIC traded in the past session fell on the chart. This reading is tied to a fall in selling strength for the altcoin in the market. Technical Analysis Polygon’s MATIC price had registered a substantial recovery since the middle of last month. Despite the recovery, MATIC had visited the oversold territory once and had also registered increased number of sellers compared to buyers. At press time however, buying strength remained more than selling pressure. The Relative Strength Index was placed slightly above the half-line indicating bullishness as buyers exceeded sellers. MATIC price was above the 20-SMA line. Price of the altcoin also managed to move above the 50-SMA. Both these observations point towards buyers driving the price momentum in the market. Related Reading: Ethereum Crosses $1,700, But Could Return To Path Of Pain, Expert Says The altcoin has managed to paint mixed technical signals. MATIC captured sell signal on its four-hour chart. Moving Average Convergence Divergence depicts the price momentum and trend reversal. The indicator despite a minor price appreciation underwent a bearish crossover and flashed red signal bars. The red signal bars are an indication of sell signal on the chart. Chaikin Money Flow is responsible in determining capital inflows and outflows. CMF stood above the half-line, into the positive zone as the coin registered increased amount of capital inflows than outflows. For MATIC to soar past the $1, broader market strength and buying pressure will be required. Related Reading: Glassnode: Bitcoin Long-Term Holders Have Shifted To Distribution Recently Featured image from The Face and chart from TradingView.com

Crypto News

XLM Depicts Buying Resurgence, Where’s It Headed Next?

XLM price picked up momentum after the coin retraced on its chart over the past week. Over the last 24 hours however, XLM appreciated by 3.6% and was successful in toppling over its immediate resistance mark. The bulls were back in charge and the technical outlook of XLM also portrayed the same sentiment. Currently, XLM price has become steady on the $0.121 level. Over the past few days, XLM has consistently formed higher highs and higher lows which is a sign of bullishness in the market. If the altcoin is able to hold onto its price momentum, then the coin could eye the $0.130 price ceiling over the upcoming trading sessions. Buying strength for Stellar remains crucial for the coin. XLM price last hovered around this price mark multiple weeks back, around the end of June. A crash from the present price level could bring XLM price to $0.114. Previously when XLM price traded at $0.124, it was met with bearish pressure resulting in Stellar falling to $0.114. XLM Price Analysis: Four Hour Chart The altcoin was priced at $0.126 at the time of writing. The bulls resurfaced along with buyers in the market, this made XLM flip its immediate resistance mark into its support line. Overhead resistance for XLM now was at $0.127 and then at $0.129. On the other hand, local support for XLM price stood at $0.119. Inability to sustain its price over the aforementioned support line, can bring the altcoin down to $0.114. Stellar has made considerable recovery given the altcoin had touched a 20-month low price level in the middle of July, this year. Trading volume of Stellar dipped on the four hour chart, this is an indication of falling selling strength in the market. Technical Analysis Technical outlook has painted an extreme bullish picture for XLM price on the four-hour chart. There has been a sharp spike in the number of buyers on XLM’s chart. The Relative Strength Index was parked into the overbought zone which meant that the asset was overvalued. Buying strength had overpowered selling strength heavily at press time. XLM price was way above the 20-SMA line. This reading points towards the buyers driving the price momentum in the market. The price of the altcoin was also above the 50-SMA and 200-SMA which signified that demand for the altcoin had substantially increased. Related Reading: Has Bitcoin Price Found Support At A Decade-Long Trend Line? Stellar captured buy signal on its chart in accordance with the other indicators on the chart. The Moving Average Convergence Divergence depicts the price momentum and reversal in same. MACD had pictured green signal bars over the half-line after it experienced a bullish crossover. The green signal bars were tied to buy signal for XLM. Directional Movement Index is responsible for portraying the current price trend and the strength of the trend in the market. DMI was positive because the +DI line was above the -DI line. Average Directional Index (Red) was seen moving towards the 40-mark, this signified strength in the present price direction indicating that XLM price will continue to register an upward movement over the upcoming trading sessions. Related Reading: Market Sentiment Holds Steady As Bitcoin Aims For $24,000   Featured image from StormGain, Charts from TradingView.com

Bitcoin Crypto News

Has Bitcoin Price Found Support At A Decade-Long Trend Line?

After a volatile first half, Bitcoin price action has been grinding sideways, seeking to find some type of reliable support. Although there has yet to be a clear sign of a reversal, the top cryptocurrency by market cap might have finally found support at a ten-year-long trend line. Complicated Technical Analysis Or This One Simple Trend Line Trick? Technical analysis is the study of chart patterns, trading indicators, Japanese candlesticks, and other data points in an attempt to predict future price action. The very basis of most technical drawings and chart patterns begins with a simple trend line. And while it isn’t uncommon to see analysts with a kitchen-sink worth of technical tools turned on, sometimes less is more when it comes to getting a good read on the market. Related Reading: How Weekly RSI Could Suggest The Bitcoin Bottom Is In Using only one trend line, it is easy to see why Bitcoin price might have finally found some support. With nothing more than the trend line to go by, buying low and selling high has historically yielded miraculous results. Will this nearly ten year long trend line hold? | Source: BTCUSD on TradingView.com Has Bitcoin Price Finally Found Support At A Decade-Long Trend Line? Bitcoin price first claimed the trend line in April 2013, just as Mt. Gox took its exchange offline to give the market time to “cooldown.” From there, each subsequent bear market in Bitcoin returned to the same trend line drawn in red. The trend line was touched in early 2015, and again in 2016 prior to the legendary 2017 Bitcoin bull run. Although the 2018 bear market found support before it ever reached the trend line, the March 2020 Black Thursday collapse took Bitcoin price precisely to the same trend line that is still holding today. Related Reading: Why Hidden Bitcoin Bulls Could Be Ready To Charge Fast forward to June 2022 and BTC once again touched down on this trend line. July once again tapped the line, yet held strong for a second month in a row. Thus far, August hasn’t made an attempt to try again, and after two failed attempts to break below in a row, it might be time for bulls to rally. Past rallies from the trend line have resulted in 2,200% ROI, 9,700% ROI, and 1,500% ROI, respectively.  Losing it could be catastrophic for crypto, so it is worth paying attention to, as simple as it may seem to the naked eye.  Will this decade-long trend line produce a rally, or will it finally be lost? Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

Crypto News

Solana Price Caught In Consolidation, Unable To Break Past The $40 Level

Solana price has been trading laterally as the altcoin has not been able to move past the $40 price mark. The altcoin has experienced a blow recently as thousands of wallets were drained of their assets owing to an exploit. The latest exploit had allowed hackers to drain the funds using private keys. After the attack on the network, Solana’s value swiftly dropped to $38. Solana price has now been stuck at the $40 level. The current support level for the coin stood at $40 and failing to stay on the aforementioned price mark, SOL could fall to $36. Bitcoin too has been consolidating at the $23,000 level after the king coin fell minorly on its chart over the past two days. Altcoins also have been affected in a similar manner. In case of Solana, the buying strength of the coin fell owing to the recent fiasco. Fortunately, only a certain number of wallets were affected and Solana Network was not compromised. The global cryptocurrency market cap today was at $1.14 Trillion, a 0.4% negative change in the last 24 hours. Solana Price Analysis: Four Hour Chart SOL was exchanging hands at $40.2 at the time of writing. The coin has still not recovered from the correction it experienced after it moved past the $46 price mark. The recent loss of funds from some accounts have definitely set back Solana’s recovery. Overhead resistance for the coin was at $41, however, Solana price will be able to invalidate the bearish thesis, once it manages to revisit and hold its price above the $46 price mark. On the flipside, support level for Solana price was at $36. A fall from $36, will bring the asset down to $34. Volume of Solana traded over the last session dipped slightly indicating fall in selling strength. If Solana price continues on a downtrend, then soon the altcoin will trade below the ascending triangle confirming bearishness. Technical Analysis The altcoin registered a depreciation in buying pressure as Solana holders ran to sell the coin due to . Over the attack. The last few trading sessions however, the coin displayed an increase in buying strength. The Relative Strength Index was seen moving above the half-line which meant that buyers were overpowering sellers at the time of writing. Solana price also was seen above the 20-SMA line which meant that buyers were driving the price momentum in the market. This could be bullish price action for the coin. If buyers hold their position in the market, SOL could break its consolidation soon. Related Reading: Solana Hot Wallets Suffer Ongoing Attack, Roughly $5M Stolen Thus Far SOL’s technical outlook hinted towards bullishness on the chart. Moving Average Convergence Divergence indicated the price momentum and change in the trend. MACD flashed green histograms after a bullish crossover. This reading was tied to buy signal for Solana. Bollinger Bands depict price volatility and price fluctuation. The bands were wide and parallel which meant that Solana price will not witness a sharp volatility. Related Reading: TA: Solana Struggles To Break Key Resistance After $5M Hack Featured image from US News Money, Charts from TradingView.com

Crypto News

Cardano Price Moves Above $0.50, Is The Price Ready For Breakout?

Cardano price is currently trading slightly above $0.50, price of the asset has been consolidating over the past few days. ADA has been struggling below the immediate resistance level. The coin has attempted to flash a break-out couple of times but it was met with the bears each time. Since Cardano price is trading sideways, chance of a breakout cannot be ruled out immediately. Technical outlook for ADA has also started to turn positive as the buying strength started to recover on the chart. Over the last 24 hours, Cardano price noted a small depreciation. In the past week, ADA lost 2% of its market value. Currently the support levels are between $0.50 and $0.45 respectively. The price had continued to form higher highs and higher lows till the coin started retracing over the last two days. It could be possible for the altcoin to resume its previous price momentum if the technical outlook continues to remain positive. Buying strength remains crucial for ADA at the moment. A slip below its present trading level will push ADA down to $0.45, which would mean that the bears will be in control again. Cardano Price Analysis: Four Hour Chart ADA was trading at $0.51 at the time of writing. Cardano price was struggling underneath the immediate resistance of $0.55. Cardano’s price had formed a similar pattern previously, where it fell below the $0.45 mark and shot up above the $0.55 price level. If ADA loses it current momentum, it could again rally on its chart. Additionally other resistance levels stood at $0.62. If Cardano price fails to hold on the $0.45 level, it could touch $0.38 over the upcoming trading sessions. Amount of ADA traded was in the green which meant that buying strength picked up on the chart. Technical Analysis ADA’s technical outlook started to turn positive over the last 24 hours. The buyers started to enter the market as the coin tried to move upwards on its chart. The Relative Strength Index was positive as the indicator was seen above the half-line. This reading indicated that buying strength was higher than the selling strength on the four hour chart. Cardano price was parked above the 20-SMA as demand for the altcoin appreciated. This meant that buyers were driving the price momentum in the market. Related Reading: Bitcoin Bullish Signal: Whale Exchange Inflows Remain Down The altcoin also demonstrated mixed signals on its shorter time frame. ADA flashed a sell signal but also the buying momentum hasn’t faded out yet. The Awesome Oscillator pictured red histograms on its half-line, AO represents the price momentum and changes in the same. The red signal bars are sell signal on the four hour chart. Moving Average Convergence Divergence outlines the momentum and trend reversals too. MACD underwent a bullish crossover and continued to form green histograms which are buy signals for ADA. The histograms on MACD were fading which were a sign of bearishness. For Cardano to break past its price ceiling, it important buyers remain in the positive on the chart. Related Reading: Cardano (ADA) Regains Some Support But Rate Stuck Below Vital $0.50 Level Featured image from The Financial Express, chart from TradingView.com

Altcoins Ethereum

Polygon (MATIC) Likely To Surge Ahead of Ethereum Merge Next Month, Says Coin Bureau Host

A popular crypto analyst says that blockchain scaling solution Polygon (MATIC) is primed to rally ahead of Ethereum’s (ETH) much-anticipated Merge next month. In a new video update, the pseudonymous host of Coin Bureau known as Guy says that MATIC is struggling despite seeing many bullish developments over the course of the past few months. […]

The post Polygon (MATIC) Likely To Surge Ahead of Ethereum Merge Next Month, Says Coin Bureau Host appeared first on The Daily Hodl.

Bitcoin Crypto News

Analysts Predicts Bitcoin Will Plunge Shortly But Suggest Buy Bitcoin

It is no secret that many cryptos have been experiencing a price plunge. As of June 18, the price of the world’s largest digital currency, Bitcoin, fell to about $17,622. This data was taken from Binance. Since then, there have been several conversations as to whether or not that price will be the lowest for the asset. A digital currency analyst from CryptoQuant has revealed the possible price of Bitcoin in the nearest future. CryptoQuant is a recognized digital currency resource platform. According to the analyst, the $17,622 price mark may not be the lowest Bitcoin will see. However, this assumption is not very solid given the level it is at the moment. Crypto Winter Overview Many traders and investors are still doubting if there will be a positive change soon. Several pieces of information state the possibility that Bitcoin will still hit a price mark lower than $20K. Related Reading: Shiba Inu Displays Surprising Price Movement – Can SHIB Ditch The Flatline? The scenario has made several digital currency holders sell off their assets. Also, before now, certain major crypto firms have taken some hard decisions due to the bearish turn of the market. A notable example of these crypto firms is Vauld. According to reports, the crypto lending platform had to suspend withdrawals and reduce its headcount. This was revealed on July 4. Probable BTC Price Going further, a cryptocurrency resource platform analyst, Tomáš Hančar, has explained the possibility of his prediction. According to him, the LTH SORP 20-day chart SMA is projecting a 1/3rd chance of Bitcoin hitting that bottom price mark. The explanation of the indicator (SMA) presented above is an acronym for 20-day chart Simple Moving Average. This represents the LTH SOPR (Long-Term Holders’ Spent Output Profit Ratio. According to the data, the ratio derived has been below the impartial level worth of “one” for up to three months. Drawing from the analyst prediction, this is 1/3rd the level that explains a potential bottoming process. The analyst further explained the function of the 20-day idea of the indicator he used. He cited that the idea of the 20-day indicator was for transferring appropriate standard lines. Buying Bitcoin Is Now, Says Tomáš Hančar After this analysis, Tomáš Hančar concluded that buying BTC should commence now. This is because there will be a strong bounce-off in a short while. But, there is a drawback to be aware of, he added. That is the probability that the digital token will drop below the $20K price mark. According to the crypto market watch data, 47 days have passed since the last new low of Bitcoin price. Related Reading: SOL Loses $40 After The Exploit – What’s The Next Support? Considering this fact, the analyst suggested traders furthermore; he cited that it will be necessary for traders to deploy a potential breakout option. Featured image from Pexels – Chart from TradingView.com

Crypto News

TA – Apecoin Price Rallies Ahead Of The $10 Mark

The price of Apecoin (APE) shows strength after bouncing from a weekly low of $3.10 against Tether (USDT). APE price has seen a relief bounce, with Bitcoin (BTC) rallying from a daily low of $19100 to a region of $23,000. (Data feeds from Binance) Related Reading: Are Higher Lows A Sign of a Growing Bitcoin Bull Run? Price Analysis Of APE On The Weekly Chart From the chart, the price of APE saw a weekly low of around $3.10, which has formed support. The price has built more momentum as it faces resistance at $10. With a break above the $10 mark, the price of APE would rally to $12. If the price of APE on the weekly chart fails to break the $10 mark, then a retest is bound at $6.7. The volume shows decent buy bids, pushing the price of APE higher. Weekly resistance for APE price – $10. Weekly support for APE price – $6.7.   Price Analysis Of APE On The Daily (1D) Chart The price of APE found strong support at around $3.4, with what seems to be the bottom on the daily chart. APE has continued to rally above this support region of $3.4 to a high of $7.7, where it has faced resistance. At the point of writing, the price of APE is at $7.4, trading above the 50 exponential moving averages (EMA), which corresponds to the support at $6.2.  APE price would find support at $6.2, which corresponds with the daily 50 EMA if it drops due to weekend sell-offs. If the 50 EMA region fails to hold the price, $5.2 would be a good support to hold sell-offs and for a possible bounce of APE price. With more buy bids, we could see the price of APE retesting at $10, which has been resistance on the daily chart. The RSI for APE price on the daily chart is above 65, indicating healthy buy bids for APE. The volume also indicates positive signs for APE prices to trend higher. Daily (1D) resistance for APE price – $7.7, $10. Daily (1D) support for Apecoin (APE) price – $6.2, $5.2. Price Analysis Of Apecoin On The Four Hourly (4H) Chart The price of APE has shown great strength on the 4H chart after forming support at $4.22.  APE price has rallied from this region, forming a bullish uptrend channel on the 4H chart. The price of APE was rejected at $9.10, which saw sell-offs. APE price is $7.4, trading above the 50 & 200 EMA with prices of $7 and $6.1 on the 4H chart. These prices would act as support areas for APE on the 4H chart. The price of APE has formed an upward trendline after rallying from a low of $6.50.   Four Hourly (4H) resistance for APE price – $8, $10. Four hourly (4h) support for APE price – $7, $6.1. Related Reading: Polkadot Sets Sight On $9 As It Claims The 10th Spot On Crypto Top 10 Featured image from NFT News Pro, Charts from TradingView.com