Altcoins Ethereum

Coin Bureau Says Kava and One ‘Seriously Impressive’ Altcoin Remain in Long Term Uptrends Despite Correction

A popular crypto analyst is weighing in on a pair of altcoins as the markets try to navigate out of a rocky month of trading. In a new strategy session, Coin Bureau host Guy tells his 2.05 million YouTube subscribers that he still anticipates cross-chain decentralized finance (DeFi) lending protocol Kava will grow, noting that […]

The post Coin Bureau Says Kava and One ‘Seriously Impressive’ Altcoin Remain in Long Term Uptrends Despite Correction appeared first on The Daily Hodl.

Crypto News

Cardano (ADA) Grapples At $0.524; Bullish Trajectory Coming

Cardano (ADA) prices show that the bulls are trying to overpower the market to diminish the bearish trend. ADA prices have been lingering steadily at $0.5, and a rejection strung at $0.628. More so, there has been a marked price decline of 7% in the market seen the previous days as the bearish trend takes over. The current market trading level is now at $0.524, which is pivotal as there seems to be a power struggle between the bulls and the bears. Suggested Reading | Avalanche Crumbles More Than 16% As Crypto Landslide Continues Support At $0.50; Bulls Try To Up Market Prices Support has been capped at $0.50, and the bulls are trying to get the prices to skyrocket. Meanwhile, the bears are not the type to throw in the towel as they are currently selling at steep prices. With these price movements, the market is perceived to see more volatility, especially since the bears and bulls are trying to outpace and outperform each other. Everyone should keep an eye on the critical level set at $0.5, wherein a break right below that trajectory would see prices plunging to as low as $0.45 levels. However, once it breaks above the price of $0.628, prices would go to as much as $0.70 levels. Cardano Power Struggle: Bulls Vs. Bears A 24-hour price analysis of Cardano (ADA) reveals a robust price battle as the bulls try to take over the market, which is being met by intense bearish pressure. These opposing forces can elicit volatile activity seen in the near term as the bulls and bears get friction to work. The trading volume seen in the ADA/USD pair is now set at $$398,204,651.10, with the total market capitalization at roughly $17.69 billion. The pair is currently at position 8 and overshadowing 1.41 of the other digital assets. Suggested Reading | Cosmos (ATOM) Skyrockets 12% Following Bitcoin And Ethereum Recovery ADA/USD Pair Can Perform Better This Week Moreover, the ADA/USD pair is seen to command and conquer with better-performing figures this week, considering the consolidation period at which the bulls are getting ready to dominate the market. The bulls and bears are trying to grip the rope tighter as they struggle to lead the market.  The bulls are back once you see the prices at the $0.628 resistance level. The prices would need to find the proper grip or support, likely at the $0.5 level, to prevent further downturns. Featured image from Solodev, chart from TradingView.com

Bitcoin Crypto News

Hammer Time: The Bullish Signal That Could Save Bitcoin

Bitcoin price is still struggling to hold onto support at $30,000 on high timeframes after smashing through it more than a week ago now. With buyers stepping in after the plunge, there is a chance for bulls to stop the downside with a bullish reversal candlestick setup. Learn more about the potential setup and find out if it’s “hammer time”. A Bullish Hammer Could Put A Stop To The Bear Market You wouldn’t necessarily know it by the ultra bearish sentiment or the recent plunge and resulting panic across the crypto market. But if you look at medium timeframe price charts, Bitcoin bulls could be preparing out a stop to the bleeding and stage a bullish hammer reversal. Related Reading | This Expanding Triangle Pattern Could Be The Last Hope For Bitcoin Bulls Japanese candlesticks are said to be developed by the so-called “God of Markets,” Honma Munehisa. Homna was a rice trader and wrote the first ever book in market psychology. Candlesticks are comprised of a body and shadow, often called a wick. They are typically depicted as red and green, or white and black (open and closed). Each candle includes information on the open, close, low, and high of the trading session it represents. How the candle opens, closes, and the highs and lows set during the session will shape the candle, and often provide information about what might be going on in the market — and what might come next. Could this hammer put a stop to bears? | Source: BTCUSD on TradingView.com The Technicals Supporting A Bitcoin Reversal Setup On BTCUSD weekly and 2-week timeframe charts, the top cryptocurrency is working on a bullish hammer. A bullish hammer is a characterized as having a long lower wick acting as the handle, a small upper body, and little to no upper shadow. Although the bullish signal only takes one candlestick to suggest a bottom is in, it is only confirmed with a strong follow through back to the upside. There are plenty of technicals supporting a reversal | Source: BTCUSD on TradingView.com Hammers are most effective when they follow a string of at least three down candles, and are supported by bullish technicals. The bullish hammer is happening at what could be the end of a wave 4 expanding triangle correction, according to Elliott Wave Principle. The MACD is retesting the zero line, much as it did during the wave 1 Black Thursday correction. Each bottom, also coincidentally touched the lower Bollinger Band before reversing to the upside. Related Reading | Bitcoin Bear Market Comparison Says It Is Almost Time For Bull Season Will this bullish hammer confirm, and stop the bloodbath from continuing? Here is a 🧵 on my full Elliott Wave analysis on #Bitcoin and why I don’t believe there is a bear market – and why I expect the last leg up any day now. — Tony "The Bull" Spilotro (@tonyspilotroBTC) May 15, 2022 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

Altcoins Analysis Bitcoin Blockchain

Blockchain Payments Protocol PumaPay V3.0 Goes Live On Testnet

Blockchain Payments Protocol PumaPay V3.0 Goes Live On Testnet

Blockchain payments protocol PumaPay is upgrading to V3.0. The new platform incorporates advanced and adaptable features to provide users with a seamless and efficient experience. For starters, the whole protocol has migrated to BNB Smart Chain (BSC). Users will therefore experience higher transaction speeds, in addition to lower gas fees. The protocol has also been […]

Altcoins Bitcoin Ethereum

Here’s What’s Next for Bitcoin and One Ethereum Competitor, According to Crypto Analyst Michaël van de Poppe

A popular crypto analyst is digging into the charts to see what’s next for Bitcoin (BTC) as well as one enterprise-grade blockchain platform. In a new post, Michaël van de Poppe alerts his 602,500 Twitter followers that he’s eyeing $29,300 as a key make-or-break indicator for Bitcoin. “Still watching the level at $29,300 for Bitcoin. […]

The post Here’s What’s Next for Bitcoin and One Ethereum Competitor, According to Crypto Analyst Michaël van de Poppe appeared first on The Daily Hodl.

Bitcoin Crypto News

Bitcoin NUPL Touches Lows Not Seen Since COVID Crash, Rebound Soon?

On-chain data shows the Bitcoin NUPL metric has now declined to lows not seen since the COVID-19 crash back in 2020. Bitcoin Net Unrealized Profit And Loss Plunged Down Recently As explained by an analyst in a CryptoQuant post, the NUPL past trend may suggest that current values could be favorable for a rebound in the crypto’s price. The “net unrealized profit and loss,” or NUPL in brief, is an indicator that’s defined as the difference between the current Bitcoin market cap and its realized cap, divided by the market cap. The “realized cap” checks what price each coin on the chain was last moved at, and using these prices it calculates the crypto’s capitalization (while the normal market cap takes the sum of all coins’ value at the current price). What this metric tells us is whether the BTC market participants as a whole are holding a profit or a loss at the moment. When the value of the ratio is above zero, it means the overall market is in profit currently. On the other hand, values less than zero imply holders are carrying a loss right now. Related Reading | Bitcoin Selling Pressure Continues As Long-Term Holder SOPR Spikes Up  Naturally, the metric being exactly equal to zero suggests the investors as a whole are just breaking even currently. Now, here is a chart that shows the trend in the Bitcoin NUPL metric over the last few years: It seems like the value of the metric has touched into the green zone recently | Source: CryptoQuant As you can see in the above graph, the quant has marked the different zones of the Bitcoin NUPL indicator with different colors. It looks like the ratio has observed some decline recently, and its value has now plunged down into the “green” zone for the first time since the COVID-19 crash. Related Reading | More Stress For El Salvador As Bitcoin Dips To $29,000 In the history of the crypto, there have been multiple instances where shortly after the indicator has touched into this zone, the price has seen an upwards turn. However, there is also the example of 2018, where the Bitcoin NUPL kept moving sideways in the green zone for a long while, until finally the value of the coin observed a sharp plummet, taking the market into loss. It now remains to be seen whether this time the crypto will follow the pattern of a rebound, or if it will show a trend similar to that in 2018. BTC Price At the time of writing, Bitcoin’s price floats around $30.2k, down 1% in the past week. Looks like the price of the crypto has been moving sideways around $30k recently | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com