Home Tags Posts tagged with "Altcoins"
Tag:

Altcoins

Altcoin

Celestia (TIA) Price Surges 6% as Bulls Eye Key Resistance

by Ouess
written by Ouess

The price of Celestia (TIA) has risen over 6% in the last 24 hours, marking a recovery after two days of losses. This uptick reflects growing optimism, making it the third day of positive price movement for the token. Despite trading within a bearish trend, the recent momentum offers hope to traders.

TIA Finds Support at $4

Currently, Celestia (TIA) is struggling to break out of a falling wedge pattern, where the altcoin continues to create lower lows. The $4 mark has proven to be a critical support level, as TIA has successfully tested it three times.

Despite the bearish market structure, TIA gained over 6% intraday, suggesting that bulls might soon challenge key resistance levels.

Impact of Upcoming Token Unlock

One reason for the recent dip in TIA’s price is the upcoming token unlock event on October 31. According to TokenUnlocks, over 174 million tokens (valued at $175 million) will be unlocked and distributed to early investors and contributors. This influx of tokens could lead to dilution, increasing supply in the market and impacting staking rewards, which currently sit at 9.96%.

Can Bulls Break the $5 Barrier?

Despite losing over 60% in value over the past three months, TIA is now showing signs of a potential rebound. Bulls will need to overcome the $5 resistance level to secure a more sustained recovery. At the time of writing, TIA was trading at $4.24, with a trading volume spike of over 60%, indicating growing investor confidence.

Technical Indicators Signal a Mixed Outlook

A closer look at the technical indicators presents a mixed picture. The Awesome Oscillator (AO) remains below the zero line, signaling weak market momentum. Similarly, the Chaikin Money Flow (CMF) reading of -0.18 suggests limited capital inflows.

However, the MACD is starting to show a green bar, indicating a possible shift in market sentiment. The RSI remains below 50, suggesting a lack of strong buying pressure, which could make it difficult for TIA to break through the $5 resistance level.

Derivatives Data Show Positive Sentiment

In the derivatives market, Open Interest (OI) rose by 14.06% to $127.30 million, signaling long build-up activity. The long/short ratio (24h) stands at 0.9539, suggesting that traders remain optimistic about TIA’s future performance.

Celestia Price Prediction: Eyes on $5

For a sustained bullish reversal, Celestia needs to break through the $5 resistance level. Immediate support lies at $4.20 and $3.80, with resistance at $5 and $5.30. As momentum builds, TIA’s ability to overcome these key levels will determine its short-term trajectory.

0 comment
0 FacebookTwitterPinterestEmail
Altcoin

Starknet (STRK) Rises 23% Despite Market Bearishness

by Ouess
written by Ouess

Despite the broader market downturn, Starknet (STRK) is showing resilience, with a nearly 23% price increase over the past week.

This surge comes despite weak macroeconomic indicators, keeping much of the bearish momentum in check. According to CoinGecko, STRK’s rise is fueled by continued development and investor confidence in the ecosystem, even as the market experiences widespread fear, uncertainty, and doubt (FUD).

On-Chain Developments Fuel Investor Confidence

Starknet’s growth is largely driven by on-chain developments, which have kept investors optimistic. Key projects built on Starknet, like zkLend and Vesu, have seen remarkable progress.

zkLend Partners with Chainlink

zkLend, Starknet’s money-market protocol, recently partnered with Chainlink to enhance the accuracy and security of its market data. Chainlink will cover assets like USDC, USDT, BTC, and ETH, improving user experience and adding more security for zkLend’s activities.

Vesu Reaches $10 Million in TVL

Another Starknet-based protocol, Vesu, achieved $10 million in total value locked (TVL) this month, reflecting 23% growth in just one week. According to DeFiLlama, Vesu now ranks fifth on Starknet’s platform.

NFTs Gain Momentum on Starknet

Starknet’s blockchain gaming scene also received a boost with the release of Realms, an NFT-based game. Realms supports Cartridge.gg’s Controller, a smart contract wallet that enhances user experience for trading assets within the game’s marketplace.

Starknet’s Long-Term Growth Potential

According to data from Dune, Starknet’s long-term growth appears solid. Weekly transactions on the network increased by 19%, while the number of active addresses grew by 1% during the same period. These developments signal sustained growth, even in a bearish market.

STRK Price Faces Resistance at $0.447

Currently, STRK is trading within the $0.388-$0.447 range after facing resistance at the $0.447 level. The token may stabilize in this range before making another breakout attempt. The continued increase in its relative strength index (RSI) suggests a few more days of bullish momentum before it potentially returns to more stable levels.

While the market shows signs of stabilization, broader macroeconomic factors could still affect STRK’s price movements in the long term. However, the token’s resilience against market pressure indicates a promising outlook for the future.

0 comment
0 FacebookTwitterPinterestEmail
Altcoin

Bitcoin Dips Below $57K as Altcoins Face Market Pressure

by Ouess
written by Ouess

Bitcoin (BTC), the world’s largest cryptocurrency, has dropped to around $56,000 as bearish sentiment continues to weigh on the digital asset market. This decline, combined with losses in altcoins, has resulted in significant market value reductions across the cryptocurrency space.

Bitcoin Price Analysis

As of now, Bitcoin is trading at $56,523.81, reflecting a 1% decrease over the past 24 hours, according to CoinMarketCap data. Over the past week, BTC has lost 3.94%, while it remains down 1.16% for the past month. Despite the recent downturn, Bitcoin is still up by an impressive 119.63% since September 2023. However, it is 23.31% below its all-time high of $73,750. Currently, Bitcoin’s market cap stands at $1.113 trillion, giving it a 56.2% dominance in the crypto market.

Altcoins Facing Similar Struggles

Litecoin (LTC) is also experiencing a dip, down 1.27% in the last 24 hours, trading at $65.97. Litecoin, ranked as the 18th largest cryptocurrency, holds a market cap of $4.9 billion with a trading volume of $413 million. Despite this, LTC has gained 5.97% over the last week and 10.82% over the past month.

Polkadot (DOT), the 16th largest crypto by market cap, has seen its price decrease by 0.17% in the last 24 hours, with its current price at $4.03. DOT’s market cap stands at $6 billion, but its trading volume has dropped by 29% to $81 million. Over the past seven days, DOT is down 5.49% and has lost 11.71% in the last month.

FET Token: Mixed Performance Despite Downturn

Artificial Superintelligence Alliance (FET), an AI-focused cryptocurrency, is down 4.80% over the past day, trading at $1.06. FET has a market cap of $2.6 billion and a trading volume of $137 million, which has decreased by 24%. While the token has seen a 4.43% drop over the past week, it has surged by 22.17% in the last 30 days and an impressive 328.62% since September 2023.

Conclusion

The crypto market continues to face downward pressure, with Bitcoin struggling to regain momentum and altcoins like Litecoin and Polkadot facing similar challenges. While FET shows promise with its recent gains, the broader market sentiment remains bearish.

0 comment
0 FacebookTwitterPinterestEmail
Altcoin

VeChain’s Role in Revolutionizing Supply Chain Management

by Ouess
written by Ouess

Since its inception, VeChain (VET) has solidified its leadership in supply chain management by offering innovative blockchain solutions that help companies track products from manufacturers to consumers.

Recently, VeChain’s groundbreaking impact was highlighted in a high-profile report titled “Blockchain 2030: Revolutionizing the Future of Digital Trust.” This recognition underscores VeChain’s growing influence in the digital economy.

VeChain’s Impact in the Blockchain 2030 Report

The mention of VeChain in the “Blockchain 2030” report was first noted by blockchain researcher Collin Brown. He detailed VeChain’s role in integrating blockchain with emerging technologies, particularly in supply chain management. Brown hinted that this recognition could positively impact VeChain’s market value in the near future.

According to the report, VeChain is instrumental in enhancing the authenticity and traceability of products through blockchain-based solutions. Collin Brown elaborated on how this technology records every step in a product’s journey, making it essential in industries like pharmaceuticals, where supply chain accuracy is crucial.

VeChain’s Adoption Across High-Profile Brands

VeChain’s technology has been widely adopted by well-known brands across various industries. For instance, Walmart China uses VeChain to trace the origin and authenticity of its products. VeChain is also pivotal in combating counterfeit goods, with luxury brands like Givenchy and VeBridal utilizing its technology to create certificates of authenticity, verified by scanning a QR code.

In the automotive industry, VeChain has partnered with BMW on the VerifyCar project, and in agriculture, companies like Bright Food use its solutions to track products from planting to distribution. The potential for VeChain’s technology to expand into healthcare, logistics, smart cities, and more is widely recognized.

Future Price Predictions for VeChain’s VET Token

Regarding VeChain’s native token, VET, analysts have varying predictions. EGRAG CRYPTO suggests that VET could reach as high as $1.6, while Changelly forecasts a price of $1 by May 2032. As of now, VET is trading at $0.022, reflecting a 10% decline in the last 24 hours.

0 comment
0 FacebookTwitterPinterestEmail
Altcoin

Hedera Network Surpasses 60 Billion Transactions Milestone

by Ouess
written by Ouess

Hedera Network, a leading proof-of-stake blockchain, has recently reached an impressive milestone by surpassing 60 billion transactions on its mainnet.

The network celebrated this achievement by thanking its community of developers, enterprises, and users for their continued support and belief in Hedera.

Growing Influence in Distributed Ledger Technology

This milestone marks a significant step for Hedera, reinforcing its growing influence and reliability in the world of distributed ledger technology (DLT). Hedera Network is renowned for its scalability, security, and efficient transaction processing, all of which have contributed to its standing as a leader in the blockchain space.

The Role of Hashgraph in Hedera’s Success

Central to Hedera’s success is its unique consensus mechanism, Hashgraph. This technology has enabled Hedera to achieve unmatched speed, scalability, and security, making it a preferred choice among enterprises, developers, and users worldwide. Additionally, Hedera’s reputation for reliable performance in building and deploying decentralized applications (dApps) has further solidified its position as a leader in the industry.

0 comment
0 FacebookTwitterPinterestEmail
Altcoin

Terra Bankruptcy Hearing: Will LUNA and LUNC Prices Rebound?

by Ouess
written by Ouess

Terraform Labs (TFL), the company behind the Terra ecosystem, has announced a significant update regarding its Chapter 11 bankruptcy proceedings. This could have major implications for the prices of LUNA and LUNC.

Terra’s Bankruptcy Hearing Set for September 19

On August 21, Terraform Labs announced via social media platform X that the Plan Confirmation Hearing for its Chapter 11 bankruptcy cases is scheduled for September 19 at 10:00 AM ET. This hearing is a crucial step in Terraform Labs’ reorganization plan. The deadline for filing Preliminary Crypto Loss Proof of Claim forms is also today, August 21. Creditors who want to participate in voting on the proposed Chapter 11 Plan must submit their claims by this deadline.

Terraform Labs filed for Chapter 11 bankruptcy in January and reached a $4.47 billion settlement with the U.S. Securities and Exchange Commission (SEC) in June. The Bankruptcy Court for the District of Delaware recently approved the proposed plan.

Shuttle Bridge Reopening and Token Burn

As part of its reorganization efforts, Terra plans to reopen the Shuttle bridge, allowing users to redeem wrapped assets on Terra Classic. This process will include burning LUNA ecosystem tokens held in the wallets of Terraform Labs and the Luna Foundation Guard (LFG). Users will have 30 days to redeem their assets, after which any unclaimed crypto assets will be burned.

Potential Impact on LUNA and LUNC Prices

The reopening of the Shuttle bridge and the burning of tokens may positively impact LUNA and LUNC prices. Following the announcement, LUNA’s price saw a brief 2% jump, with current prices up 0.50% at $0.3289. Trading volume has also increased by 17%, reflecting growing interest among traders.

Similarly, LUNC’s price climbed 2%, rising to $0.000082 from a 24-hour low of $0.000077. Trading volumes for LUNC have surged by 38% as traders adjust their positions amidst a broader crypto market selloff.

0 comment
0 FacebookTwitterPinterestEmail
Altcoin

Chainlink Faces Bearish Trends Amid Network Inactivity

by Ouess
written by Ouess

Chainlink (LINK) is facing significant bearish pressure as network inactivity continues to impact its price. Despite some bullish signals in the broader market, Chainlink struggles to gain momentum.

Chainlink’s Bearish Indicators

The recent decline in Chainlink’s price might continue due to a troubling Network Value to Transaction (NVT) ratio. The NVT ratio, which has reached its highest level in over four years, suggests that the network’s value is overstretched relative to its transaction volume. This condition often precedes price corrections, signaling potential difficulties ahead for LINK.

Chainlink NVT Ratio. Source: IntoTheBlock

Adding to these concerns is Chainlink’s Relative Strength Index (RSI), a key momentum indicator. Currently, the RSI is in negative territory, highlighting ongoing bearish momentum. While there are hints of bullish momentum building, LINK may struggle to break out until the RSI moves above the neutral line, signaling stronger buying pressure.

LINK Price Prediction: Recovery Remains Challenging

At its current price of $10.42, Chainlink is far from recovering its recent losses. With LINK at a ten-month low, the path to recovery seems uncertain. Consolidation below $11.00 appears to be the most likely scenario, with limited chances of a breakout. The altcoin could remain range-bound between $9.35 and $11.00.

However, if LINK manages to flip the $11.00 resistance into support, it might trigger an uptrend, potentially reaching $11.99. Breaking this level could invalidate the bearish outlook and open the door for further recovery.

0 comment
0 FacebookTwitterPinterestEmail
Altcoin

Solana (SOL) Nears Breakout: Will Prices Surge?

by Ouess
written by Ouess

Solana’s native token, SOL, is on the brink of a breakout, signaling potential price increases in the short term. According to crypto analyst Altcoin Buzz on X (formerly Twitter), many investors are overlooking the value of SOL, which he describes as a “gem” in the crypto world.

SOL Set to Overcome Bearish Market Conditions

The analyst believes that once SOL navigates through the current bearish phase in the crypto market, it could skyrocket into an uptrend. The token’s momentum has recently been dampened by the sharp declines in leading cryptocurrencies like Bitcoin (BTC) and Ether (ETH).

As of now, SOL is trading at $144.35, reflecting a nearly 2% increase in the past 24 hours. If SOL can maintain its position above this level, there is a strong possibility of a continued uptrend in the short term. The digital asset’s trading volume has risen by 12.54%, reaching $3.1 billion. With a market cap of $67.5 billion, Solana is currently the fifth most valuable cryptocurrency.

Solana’s Growing Popularity

Solana’s rising popularity is primarily driven by the reliable returns offered by its network. Participants in the Solana ecosystem report daily returns of around 1%, a figure that outpaces those offered by Ethereum and other competitors.

Technical Analysis: Consolidation and Sideways Movement

The TradingView chart below illustrates that SOL’s trading volume isn’t yet high enough to trigger a strong bullish uptrend. The price has been consolidating between $188 and $120, leading to a sideways trend dominating the market.

The Relative Strength Index (RSI) for SOL currently reads 44.14, indicating that bears are still in control. If the bulls fail to gain momentum soon, there is a significant risk of a price decline. The slow gradient of the RSI line suggests that any movement is likely to be gradual.

0 comment
0 FacebookTwitterPinterestEmail
Altcoin

Toncoin Surges Past Key Resistance Levels: What’s Next?

by Ouess
written by Ouess

Toncoin (TON) has recently been on a significant upward trajectory, breaking through multiple resistance levels. A recent highlight in its rally was crossing the 100-day exponential moving average (EMA), which is currently around $6.68.

Toncoin Defies Market Corrections

Building on its recent gains, Toncoin’s rise marks a critical advancement. Over the past few weeks, TON’s value has surged by roughly 30%, showing strong upward momentum despite overall market volatility. Holding above the 100 EMA is a positive sign, suggesting that TON has the strength to continue climbing.

Next Target: 50-Day EMA at $7.60

Looking ahead, Toncoin’s next major target is the 50-day EMA, which is currently near $7.60. This level is not only a technical resistance but also a psychological milestone for traders. A successful move above $7.60 could lead to further gains, attracting more investors and boosting confidence in Toncoin’s long-term potential.

Critical Levels to Watch: $8 and Beyond

If TON can overcome the $7.60 resistance, the next critical level will be around $8. This psychological barrier could significantly impact TON’s price action. However, if the price fails to maintain its position above the 100 EMA, it may drop back to earlier support levels.

The 200 EMA, situated around $5.69, serves as a vital support level. Recent price movements suggest that Toncoin is gaining momentum, with increasing interest from buyers. The consistent performance of TON, even during market corrections, indicates strong underlying demand for the cryptocurrency.

0 comment
0 FacebookTwitterPinterestEmail
Bitcoin

Bitcoin’s Volatile Dance Around $58K and Altcoin Reactions

by Ouess
written by Ouess

The last 24 hours have been eventful for Bitcoin and several altcoins, with prices fluctuating significantly. Some cryptocurrencies experienced slight gains, while others saw small declines.

Bitcoin Struggles at $58K

Bitcoin’s price has been shaky around the $58,000 mark, a level many analysts identify as a crucial liquidity zone. The cryptocurrency’s behavior in this area could shape its near-term direction.

Yesterday, bears attempted to drive Bitcoin below this critical level, pushing the price down to $56,200 on some exchanges. However, buyers quickly intervened, driving the price back above the pivotal $58K mark, where it currently trades.

BTC USD Hourly chart

According to data from Coinglass, this price action led to about $200 million in liquidated short and long positions across the derivatives market.

Additionally, as reported by CryptoPotato, around $1.4 billion worth of Bitcoin options contracts are set to expire today. This expiration could lead to further volatility, so it’s essential to stay vigilant.

Altcoins Exhibit Mixed Performance

Altcoins also saw mixed price movements. Some, like DOGE and SHIB, which are prominent in the meme coin sector, fell by around 1.2%. On the other hand, large-cap coins such as XRP, SOL, and BNB gained approximately 0.5% following last night’s volatility.

Despite these fluctuations, the overall sentiment in the cryptocurrency market remains fearful. The popular market sentiment tracker currently reads 27, indicating “fear,” down from yesterday’s value of 29 and a significant drop from last week’s neutral reading of 48.

It will be intriguing to see how the market trends over the weekend.

0 comment
0 FacebookTwitterPinterestEmail
Newer Posts
Older Posts

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy
Social Media Auto Publish Powered By : XYZScripts.com
Skip to content