Experts often say the altcoins rally with Bitcoin, and even fall with it. On 21 January, Longhash revealed that in the last seven days, 92% of crypto tokens “outperformed Bitcoin.” Bitcoin rallied to new ATHs and has remained over the $30,000 range, which still accounted for less volatility compared to previous rallies. However, with increasing...Read More
When stories of Bitcoin millionaires began to emerge alongside the asset’s rally, Ether’s users also had a tale or two to share. An anonymous hodler who bought Ether, when it was trading at $2, is apparently “fully out of the game.” The trader who goes by the handle “u/FollowMe22” on Reddit apparently sold Ether recently....Read More
Bitcoin Cash, Synthetix, and Algorand posted losses over the past few hours as Bitcoin saw a wave of selling pressure. The defense of $32,000 for Bitcoin, or the lack of defense, would have a major impact on the altcoin market as well. Bitcoin Cash [BCH] Source: BCH/USDT on TradingView BCH formed a descending triangle pattern...Read More
Polkadot price was showing good buying pressure even though it hit a new ATH at $19.5. The price consolidated for almost 3 days before it proceeded to surge a whopping 18.86% in a single 4-hour candle. However, this surge was put to a halt as Bitcoin began falling on the charts. As a result, Polkadot’s...Read More
For the third time, China’s southeastern city of Shenzhen will issue the nation’s digital currency as part of an ongoing pilot program to test China’s central bank project among its citizens. Authorities will giveaway digital currency in the “red envelopes” event, which will be worth 200 yuan (about $31) each, through a random draw. In...Read More
Bitcoin’s dominance is currently at 64.8% in comparison to 2017 in which its dominance was over 68%. The current crypto market cap is well distributed among top altcoins and stablecoins. After the price rallies in the current market cycle, nearly 100% of crypto wallet addresses are profitable. However, the same doesn’t hold true for altcoins...Read More
Litecoin was under short-term bearish pressure and was likely to head toward the $135 level of support over the next few hours. Dash was on the verge of losing $113 as a level of support as it saw a wave of selling pressure rise and FTX Token showed a dip in buying volume, even as...Read More
On-chain liquidity protocol, Kyber Network announced a host of improvements to its architecture primarily due to a proposed upgrade to Kyber 3.0, which will transition “Kyber from a single protocol into a hub of purpose-driven liquidity protocols.” According to a blog post, Kyber’s architecture change will be implemented in two phases dubbed Katana and Kaizen,...Read More
Thanks to its overwhelming dominance and market share, Bitcoin’s performance on the charts is bound to affect the performance of the market’s altcoins. At press time, the king coin was trading at $34,811 with a trading volume of 40.5 billion. Source: CoinStats BTC’s insistence on consolidating below the $37,000-mark for most of the week pinched...Read More
Binance Coin like every other altcoin is undergoing a correction that has caused a drop of 14% in 48 hours. By the looks of it, this drop will continue, at least until Bitcoin stops crashing. However, Bitcoin whales are depositing their holdings on exchanges suggesting that the whales might not stop anytime soon. Hence, BNB...Read More
Is Ethereum recovering from the correction post the new ATH or approaching a sell-off? This is a burning question for many retail traders as the bloodbath across the altcoin market continues. Ethereum was ranking #1 in terms of transaction volume, though the asset beat Bitcoin to it, the top driving factor was the social volume...Read More
After weeks of bullish movement, it would seem that Bitcoin is finally consolidating on the price charts. Interestingly, due to the high correlation most of the market’s altcoins share with the world’s largest cryptocurrency – BTC, altcoins such as Tezos, BAT, and Zcash mirrored its movement. However, these cryptos didn’t do so equally, especially since...Read More
XRP tested the $0.3 level of resistance repeatedly, and flipping this level of resistance to support would be a significant development for the bulls. EOS showed neutral short-term momentum as it traded above a level of support. IOTA climbed past $0.45 and targeted the $0.54 level of resistance. XRP Source: XRP/USD on TradingView XRP has...Read More
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice The past week has seen Cardano trade between the $0.32 and $0.385 price range. Levels of importance within this range are highlighted and the short-term outlook for the coin appeared to take a turn...Read More
Ethereum reached its two-year highs at $1440 but was unable to push past. Climbing above $1450 would set $1625 as a target for bulls while falling beneath $1290 could see ETH revisit the $1150 support level. On the other hand, Monero showed bearish momentum and was trading just above a crucial level of support while...Read More
Since the launch of Shelley in July 2020, implementing Goguen, the next era of the Cardano blockchain, has been the focus of the Cardano Foundation. However, the much-anticipated launch is still yet to be scheduled – something that may come down to the technical difficulties associated with executing it. The subject was touched upon by...Read More
Chainlink and Aave moved south after touching record levels as losses in the broader market had a negative effect on their prices. Further, Compound too flashed red, at press time, after a breakout was witnessed from its rising wedge pattern. Chainlink [LINK] Source: LINK/USD, TradingView After touching record levels, Chainlink’s price cooled down and fell...Read More
Bitcoin Cash eyed a move towards the $469.4-support level as the price moved south from its 20-SMA and 50-SMA. SNX registered a correction after the price fell by over 9% following its all-time high. Finally, ONT moved south from an ascending parallel channel and targeted the $0.591-support level. Bitcoin Cash [BCH] Source: BCH/USD, TradingView Bitcoin...Read More
European Commission and European Central Bank (ECB) have come together to issue a joint statement about the possibility of issuing a digital euro. Both entities reiterated the fact that the digital currency, if and when launched, will complement cash and “payment solutions supplied by the private sector.” ECB and EC are both pursuing “their efforts”...Read More
After Bitcoin failed to hold on to the $36,000-level, the larger altcoin market registered negative gains on the charts. Alts such as Litecoin and Algorand flashed red at press time and traded close to their respective support levels. On the other hand, VeChain ignored broader market cues and surged to record levels. Litecoin [LTC] Source:...Read More
Binance Futures is in the news today after it announced the launch of a DOTECO (Polkadot Ecosystem) Composite Index perpetual contract. The DOTECO Composite Index perpetual contract is a USDT-margined Futures contract that uses USDT as collateral. According to the said announcement by one of the market’s biggest crypto-exchanges, the DOTECO Composite Index is denominated...Read More
In its latest ‘State of the Network’ bulletin, industry data provider Coin Metrics has delved into altcoins and their impressive performance so far this year. It acknowledged that many of the hot altcoins that surged during the 2017 crypto boom are now ‘dead and gone’, and have been replaced by a new breed of DeFi...Read More
EOS eyed a breakout from its press time channel to touch the $2.91-resistance level. BAT formed an ascending triangle on the chart and a northbound breakout can be seen over the coming days. Finally, MKR moved within a fixed channel and although the price was bullish, a move above its press time resistance level was...Read More
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice Tezos’s price looked ready for a breakout from its 3-day long consolidation on the charts. This breakout is expected to be bullish considering the prior trend. In fact, a 10% to 20% surge seemed...Read More
As Bitcoin closed in on the $37,000-mark, the altcoin market looked to move in alliance with the king coin. Similarly, altcoins like TRX, XEM, and ZEC all flashed green during press time. Although momentum rested with the market’s bulls, indicators on TRX and XEM registered the possibility of a bearish pullback towards their respective support...Read More
Binance Coin and Cosmos touched record levels after a surge in market leaders BTC and ETH‘s charts lifted the broader cryptocurrency market. Further down the crypto-ladder, DASH registered a breakout and was heading towards the $136.38-resistance level. Binance Coin [BNB] Source: BNB/USD, TradingView Binance Coin cooled off from its all-time high and traded close to...Read More
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice Bitcoin SV’s price was stuck in a low volatility zone, with 4-hour candles varying between -3% to +3% returns. While the trend seemed to be continuing, BSV seemed to have retained its bullishness as...Read More
Despite Bitcoin clawing back to regain the $36,000-mark, altcoins such as Monero, Ethereum Classic, and Dogecoin remained cautious and awaited further cues to make a definitive move on the charts. In fact, a bullish scenario could see XMR topple its present resistance and move towards $162.4. ETC showed bullishness, at the time of writing, but...Read More
Ethereum‘s price is on a parabolic rally right now, and it is very close to hitting a new ATH on the charts after breaching its previous ATH, a level set back in January 2018. In fact, its surge has been quite similar to Bitcoin’s when it was near its 2017-highs. If the same does come...Read More
The cryptocurrency market had been moving sideways given the lack of momentum in the Bitcoin market. However, on 18 January, the market saw a slight boost, and the prices of most cryptocurrencies suddenly shot up. Major cryptocurrencies like Litecoin [LTC] surged, but the mid-cap and small-cap alts did not see much movement. Litecoin [LTC] Source:...Read More
