Altcoins Bitcoin Ethereum

Top Crypto Trader Forecasts What’s Next for Bitcoin, Ethereum and One Altcoin That’s Up Over 120% in Two Months

A popular analyst is setting updated price targets for a trio of cryptocurrencies as the markets head into the weekend. The pseudonymous crypto trader Altcoin Sherpa first examines the possibility that Bitcoin (BTC) is in an accumulation phase and priming for a major rally in the coming weeks, but cautions his 182,600 Twitter followers that […]

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Crypto News

Lido DAO Continues With Strong Bullish Bias, How High Can Price Go?

The price of Lido DAO (LDO) has shown so much strength despite the downtrend across the market, with Lido DAO (LDO) eyeing a rally to its all-time high of $4. Bitcoin’s (BTC) price has shown a little strength bouncing off from key support, leading to most crypto assets popping out from their shell. (Data from Binance) Related Reading: Why Vitalik Buterin Expected Crypto Crash To Happen Earlier, ETH Price Battles With $1,600 Lido DAO (LDO) Price Analysis On The Daily Chart  LDO token price has shown so much strength creating a higher high after hitting a daily low of $1.6; the price bounced off from this region and rallied to $2.  The price of LDO rallied to a high of $2.2 but has faced resistance; LDO needs to break this resistance at $2.2 to have a chance of trading higher.  LDO price has continued to show so much strength as bulls are ready to push the price of LDO to higher heights. The price of LDO is currently trading above its support at $1.9, with eyes set for more highs.  Daily resistance for the price of LDO – $2.2-$2.4. Daily support for the price of LDO – $1.9. Price Analysis Of LDO On The Four-Hourly (4H) Chart After falling from a high of $4, the price of LDO on the four-hourly timeframe has formed support at $1.6, holding the price of LDO from going lower as this has become an area of demand for LDO price. The price of LDO formed a bullish symmetrical triangle before breaking out with good volume, and the price continued to rally after a successful breakout. LDO trades at $2.2 above the 50 and 200 Exponential Moving Average (EMA). The prices at $2.1 and $1.96, corresponding to 50 and 200 EMA, will continue to keep the price of LDO from going lower. If the price of LDO maintains its structure, we could see the price going higher to a region of $3 as the volume pushing the price of LDO looks bullish for such price movement. If the price of LDO fails to hold this above 50 and 200 EMA support, we could see the price of LDO retesting the support at $1.9-$1.6, as this has proven to be an area of interest for buyers Despite being rejected recently from the $2 mark, LDO price has continued to look bullish with more buy volume for this coin. Four hourly (4H) resistance for the LDO price – $2.2-$2.4. Four hourly (4H) support for the GMX price – $1.9-1.6. Price Analysis Of LDO On The One Hour (1H) Chart The price of LDO in the 1H timeframe has continued to respect the trendline while creating higher highs; if the price of LDO continues its bullish structure, we could see LDO going past the $3 mark. If the trendline supporting the LDO token is broken, we could see the price revisiting $1.9, just below the 200 Exponential Moving Average (EMA). The price of LDO is currently trading above the 50 and 200 EMA, acting as support for LDO price in the 1H timeframe. One Hourly (1H) resistance for the LDO price – $2.2-$2.4. One Hourly (1H) support for the LDO price – $1.9. Related Reading: Helium (HNT) Deflates 15% After Proposed Transition To Solana Featured Image From Coingape, Charts From TradingView.com

Crypto News

GMX Token Top Arbitrum Network, How Far Can It Go?

The price of the GMX token has shown so much strength despite the downtrend across the market, with the GMX token eyeing a rally to its all-time high of $60. Bitcoin’s (BTC) price has shown less steam compared to recent times, this has affected most crypto assets, but this can not be said of GMX token. (Data from Coinex) Related Reading: Robinhood Lists Cardano On Platform, ADA Price To Take A Push Upwards? GMX Token (GMX) Price Analysis On The Daily Chart  GMX token price has shown so much strength creating a higher high after hitting a low of $13; the price bounced off from this region and rallied to $55.  The price of GMX rallied to a high of $55 but was rejected as this proved to be a resistance for GMX on the daily chart.  GMX price dropped to a region of $35, forming daily support to hold off the price from selling. The price of GMX has continued to hold above support and build momentum to break above this region. The price of GMX is currently trading above its support, with eyes set for more highs.  Daily resistance for the price of GMX – $55. Daily support for the price of GMX – $35. Price Analysis Of GMX On The Four-Hourly (4H) Chart After falling from a high of $55, the price of GMX on the four-hourly timeframe has formed support at $30, holding the price of GMX from going lower as this has become an area of demand for GMX price. The price of GMX has formed a bullish trendline acting as support for the price of GMX; as long as the price of GMX respects the trendline acting as support for its price, we could see the price of GMX going higher to a new high and possibly reaching its all-time highs. If the price of GMX fails to hold this trendline and breaks below, we could see the price going lower to a region of $40, where it has formed support in the four-hourly timeframe before its rally. Despite being rejected recently from the $55 mark, GMX price has continued to look bullish with more buy volume for this coin. Four hourly (4H) resistance for the GMX price – $55. Four hourly (4H) support for the GMX price – $40. Price Analysis Of GMX On The One-Hour (1H) Chart The price of GMXon the 1H timeframe has continued to respect the trendline while creating higher highs; if the price of GMX continues its bullish structure, we could see GMX going past the $60 mark. If the trendline supporting the GMX token is broken, we could see the price revisiting $43, just above the 200 Exponential Moving Average (EMA). The price of GMX is currently trading above the 50 and 200 EMA, acting as support for GMX’s price in the 1H timeframe. The price of $47 and $43 corresponds to the 50 and 200 EMA values on the 1H chart. The Relative Strength Index (RSI) for GMX on the 1H chart is above 60, indicating buy order volume for the GMX price. One-Hourly (1H) resistance for the GMX price – $55. One-Hourly (1H) support for the GMX price – $47, $43. Related Reading: Bitcoin Derivatives Reserve Surges Up, More Volatility Soon? Featured Image From Currency, Charts From TradingView.com 

Crypto News Ethereum

TA: Ethereum Gains Momentum, A Strengthening Case For More Upsides

Ethereum started a fresh increase above the $1,600 resistance against the US Dollar. ETH is gaining pace and might rise further towards the $1,650 level. Ethereum remained well supported above the $1,480 zone. The price is now trading above $1,550 and the 100 hourly simple moving average. There is a key rising channel forming with support near $1,510 on the hourly chart of ETH/USD (data feed via Kraken). The pair is eyeing more gains above the $1,620 and $1,625 resistance levels. Ethereum Price Gains Pace Ethereum attempted an upside break above the $1,605 level, but struggled. There was a sharp bearish reaction below the $1,560 and $1,550 levels. Ether price dipped below the $1,520 level and the 100 hourly simple moving average. However, the bulls were active near the $1,500 and $1,480 levels. A low was formed near $1,473 and the price is now rising. There was a clear move above $1,550 and the 100 hourly simple moving average. The price rallied above the 61.8% Fib retracement level of the recent decline from the $1,605 swing high to $1,473 low. It is now consolidating near the $1,600 zone. There is also a key rising channel forming with support near $1,510 on the hourly chart of ETH/USD It is facing resistance near the $1,620 and $1,635 levels.  The stated resistance is near the 1.236 Fib extension level of the recent decline from the $1,605 swing high to $1,473 low. The next major resistance is now forming near the $1,650 level. Source: ETHUSD on TradingView.com A clear move above the $1,650 level might send the price towards $1,700 resistance. Any more gains may perhaps open the doors for a test of the $1,750 resistance in the near term. Fresh Decline in ETH? If ethereum fails to rise above the $1,620 resistance, it could start another decline. An initial support on the downside is near the $1,560 zone. The next major support is near $1,540 and the 100 hourly simple moving average, below which ether price gain bearish momentum. In the stated case, the price may perhaps decline towards the $1,520 level. Any more losses may perhaps send the price towards the $1,480 zone. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $1,540 Major Resistance Level – $1,635

Crypto News Ethereum

TA: Ethereum Just Reversed and $1,600 is Imminent, Here’s Why

Ethereum started a strong recovery from the $1,425 zone against the US Dollar. ETH is back above $1,500 and might rise further towards the $1,600 resistance. Ethereum remained well supported above the $1,425 zone. The price is now trading above $1,500 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $1,485 on the hourly chart of ETH/USD (data feed via Kraken). The pair is eyeing more gains above the $1,560 and $1,565 resistance levels. Ethereum Price Starts Recovery Ethereum found support near the $1,425 zone after a strong decline. ETH formed a base above the $1,425 and $1,440 levels and recently started an upside correction. There was a clear move above the $1,500 resistance zone. Besides, there was a break above a key bearish trend line with resistance near $1,485 on the hourly chart of ETH/USD. The pair even climbed above the $1,520 level and the 100 hourly simple moving average. There was a clear move above the 23.6% Fib retracement level of the key drop from the $1,707 swing high to $1,423 low. Ether price is now trading above $1,500 and the 100 hourly simple moving average. It is facing resistance near the $1,560 and $1,565 levels. The stated resistance is near the 50% Fib retracement level of the key drop from the $1,707 swing high to $1,423 low. The next major resistance is now forming near the $1,600 level. Source: ETHUSD on TradingView.com A clear move above the $1,600 level might send the price towards $1,640 resistance. Any more gains may perhaps open the doors for a test of the $1,700 resistance in the near term. Fresh Decline in ETH? If ethereum fails to rise above the $1,565 resistance, it could start another decline. An initial support on the downside is near the $1,530 zone and the 100 hourly simple moving average. The next major support is near $1,490, below which ether price gain bearish momentum. In the stated case, the price may perhaps decline towards the $1,450 level. Any more losses may perhaps send the price towards the $1,425 zone or the last swing low. Technical Indicators Hourly MACD – The MACD for ETH/USD is now losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $1,490 Major Resistance Level – $1,565

Crypto News

Solana Price Faces Bearish Momentum, Next Move Could Push SOL To $28

Solana price witnessed a strong bearish pull as major market coins also depreciated significantly on their charts. The altcoin fell by 6% over the last 24 hours. In the past week, Solana lost 14% of its market value. The bulls were trying to defend the coin at their nearest support level, however, the coin met with a sell-off over the past 24 hours. Over the last few days, Solana was trading sideways above its support level of $34. The recent depreciation on the chart caused SOL to fall below its immediate support level. If Solana price continues to move on the same price trajectory, a fall below its present price level will be inevitable. The technical outlook for the coin pointed towards bearishness. Selling strength shot up over the last 24 hours as buyers lost confidence. A move below the $31 price mark will cause SOL to revisit the $28 price level. The global cryptocurrency market cap today is at $1.01 Trillion, with a 3.5% negative change in the last 24 hours. Solana Price Analysis: Four-Hour Chart SOL was trading for $31 at the time of writing. The coin just lost the support of the $34 level and was eyeing the next support level. The closest support line for the coin stood at $28. Overhead resistance for the coin stood at $37. In case the coin manages to revisit the $34 level, a move above that price level could be expected. In case Solana price is unable to remain at its present level, a move below the $28 price mark can be expected over the immediate trading sessions. The amount of SOL traded over the last session declined which indicated low demand levels and increased selling strength. Technical Analysis SOL depicted a fall in buying strength at the time of writing. The technical indicator pointed towards increased selling strength. The Relative Strength Index was below the 20-mark which meant that sellers outnumbered buyers at the time of writing. Due to lower demand, Solana was undervalued on the four-hour chart. Solana price was below the 20-SMA line and that meant sellers were driving the price momentum in the market. Related Reading: Bitcoin Taker Buy/Sell Volume Spikes Up As Price Experiences Volatility SOL had depicted a sell signal on their four-hour chart. Technical indicators pointed towards incoming bearishness over the next trading sessions. Moving Average Convergence Divergence indicates the price momentum and the chance of reversal. MACD underwent a bearish crossover and it formed red signal bars below the half-line which were the sell signal for the coin. Chaikin Money Flow displays capital outflows and inflows. CMF was also under the zero line which indicated a fall in capital inflows compared to outflows. Related Reading: Cardano Price At $0.44 With Strong Support, What’s Next? Featured image from TechStory, charts from TradingView.com

Altcoins

Quant Analyst Says Legacy Financial Institutions Are Eyeing One Ethereum-Dominated Sector – Here’s Why

The traditional finance sector will dip its toes into decentralized finance (DeFi) in the next few months, predicts Ki Young Ju, chief executive of on-chain insights platform CryptoQuant. Young Ju tells his 304,800 Twitter followers that stablecoins are leading the way in terms of institutional adoption. As evidence, he points to U.S. Federal Reserve Chair […]

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Crypto News

FLOW Reclaims Green Turf After 7-Day Losing Streak

FLOW relishes its winning streaks as the coin trades at its peak Thursday, and shoots upwards after a 7-day losing streak. FLOW registers peak levels, shows renewed vigor after a week Price sets sights on a new key resistance at $3 Token dips by 17.47%, currently trades at $2.28 The uptrend came unexpectedly especially since FLOW’s market cap is trading lower at 1.14%. Other altcoins like SHIB also declined by as much as 10%. Related Reading: Chainlink In Bearish Mood As LINK Price Retreats To $8.63 FLOW, One Of The Strongest Movers On Thursday FLOW was undeniably one of the strongest crypto movers on Thursday as the coin was able to rebound following a slump for seven straight days. The crypto’s recent price drop reaching $2.54 also positioned itself as a support point. But, similar to what happened on August 8, the bulls decided to crash the party which has propelled FLOW to reach $2.80. Chart from TradingView.com Since the coin has bowled over the support point, it appears to be eyeing the $3 resistance level next. But, for FLOW to inch closer to its target zone, the token should be able to surpass the looming obstacle in the RSI. RSI index reads at 60.32 which is way below the ceiling level of 61.19, which historically is the zone that bears favor. FLOW Sets Crosshair At $3 Decentralization is now marking its territory in the blockchain space. With that being said, many projects are now strung together to create a game-changing DeFi culture. The crypto is the newest network to dip into DeFi with its DAO infrastructure spawned as CAST. CAST is pivotal in attracting more projects into the Flow network. This outcome boosts the opportunity for the coin. On July 28, the price of the crypto has peaked at $1.78 following a 9.6% uptrend seen overnight. FLOW price increase was also precipitated by the announcement of CAST which may have triggered an optimistic market sentiment. FLOW total market cap at $2.33 billion on the daily chart | Source: TradingView.com It’s still undetermined whether the FLOW price can continue to bolster or keep up with the uptrend. Amid the uncertainty of its consistency and performance to maintain its bullish streak, the recovery exhibited by the token in the 50-day moving average speaks volumes of the token’s potential. Related Reading: Polygon Seen Breaching $1 This Week – Can MATIC Start An Uptrend? This indicates that the crypto is enjoying a strong demand close to that exact indicator. Flow started the week on a bearish movement, prompting the bears to push a little below the RSI level at 50% before the rebound. As it is, FLOW is currently down by 17.75% or trading at $2.27, according to CoinMarketCap. Featured image from www.onflow.org, Chart from TradingView.com

Altcoins Bitcoin Ethereum

Here’s What’s Next for Bitcoin, Ethereum, Binance Coin and a Leading Dogecoin Rival, According to Crypto Trader

A popular analyst is providing price target updates for a handful of crypto assets as the markets fight to wrap up the week in positive territory. The pseudonymous trader known as Altcoin Sherpa tells his 181,400 Twitter followers that after a week of choppy downward price movement, he still believes Bitcoin (BTC) has enough strength […]

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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