Connect with us

News

Ethereum, Ripple, Cardano, Solana, and Polkadot

Published

on


This week, we take a closer look at Ethereum, Ripple, Cardano, Solana, and Polkadot.

img1_cryptopost

Ethereum (ETH)

After a week of consolidation, ETH is giving some signs of optimism. The price found good support at $1,900 which represents a higher low compared to $1,700 which was hit on May 12. Ethereum is now in a position to attempt further recovery and closed the past seven days with a 4% price increase.

At the same time, closely following the price, the RSI has made a higher low on the daily timeframe and appears ready to move higher towards 50 points. Yesterday, the volume also saw strong buying pressure which could soon flip the MACD bullish if it continues.

Taken together, these signal a potential bullish price action in the coming days. The first obstacle towards that is represented by the key resistance at $2,150. Should ETH manage to move above it, then the next target in the coming week is found at $2,500.

ETHUSD_2022-05-20_13-29-18
Chart by TradingView

Ripple (XRP)

Compared to Ethereum, XRP is one step ahead after the daily MACD completed a bullish crossover today. This signals a considerable change in the trend and may, at least temporarily, lead to a relief rally. For this reason, XRP registered an 11% price increase in the past seven days.

The price action is very similar to ETH, with a higher low and bullish RSI. So long as this momentum is maintained, XRP could challenge the resistance at $0.56. For now, the price found good support just above $0.40.

Looking ahead, the cryptocurrency is suffering from a lack of volume. This could put any sustained recovery in danger and the weekends are notoriously low on volume. Nevertheless, sellers seem to have been exhausted and buyers may take over the price action going forward.

XRPUSDT_2022-05-20_13-36-38
Chart by TradingView

Cardano (ADA)

Cardano also made a bullish crossover on its daily MACD indicator today. The price action is relatively bullish (in the short-term) with a higher low and it may attempt another test of the key resistance at $0.60. Overall, it was a good past week for ADA with its price increasing by 13.7%.

The support is found at $0.50 and so far this level has managed to stop the price from falling lower twice in the past week. This may encourage buyers to push ADA much higher.

Looking ahead, the key support could act as a pivot point which may allow ADA to move above $0.60. If successful, then the next key resistance will be found at $0.75.

ADAUSDT_2022-05-20_13-46-17
Chart by TradingView

Solana (SOL)

With a 19% price increase in the past seven days, Solana has recovered very successfully from the mid-May lows and is the best performer on our list this week. SOL also appears in a similar position to Ethereum as it is closing fast towards a bullish crossover on the daily MACD.

The cryptocurrency has managed to hold well above $50 and may attempt to break the key resistance at $57 in the coming week. Buying pressure is also picking up in the past two days and if this continues, Solana could break the key resistance and rally towards the next target at $78.

Considering this price action, SOL seems well-positioned for a sustained recovery after suffering significant losses in early May. The indicators are about to turn bullish and this may be the momentum it needs to sustain a relief rally.

SOLUSDT_2022-05-20_13-50-01
Chart by TradingView

Polkadot (DOT)

Polkadot’s price action shows some hesitation from market participants but despite this, it still managed to register a 15% price increase in the past seven days. The key support at $8 stopped the crash in mid-May and now DOT has found support around $10.

The key resistance levels are found at $12 and $14 with momentum favoring buyers in the past two days. DOT has to do its best to not lose its support at $1. Momentum is not yet fully behind the bulls based on this price action, but it may improve in the coming week.

Looking ahead, DOT must maintain a double-digit price to shore up confidence that it can turn around the bearish trend that started in early April. Should it be successful, then the cryptocurrency might even test the $14 resistance in the next few weeks.

DOTUSDT_2022-05-20_14-03-49
Chart by TradingView
SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.



Source link

All Image and Text copyrights belong to their respective author at the
Source this is a syndicated feed of information for educational purposes.

DISCLAIMER:
Beneath Part 107 of the Copyright Act 1976, allowance is made for “truthful use” for functions corresponding to criticism, remark, information reporting, instructing, scholarship, and analysis. Honest use is a use permitted by copyright statute that may in any other case be infringing.”

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.

News

Solana(SOL) Price at the Foothill of a Massive Explosion But $100 Appears Still Distinct

Published

on

By


Solana price gained a huge bullish momentum ever since the co-founder announced the plans of rolling out an SMS platform & Android phone. The price which had broken the falling wedge had broken out of the descending consolidation and rose high a week ago. However, the recent positive announcements did give the asset a larger boost which surged more than 25% in the past 24 hours. 

The SOL price even after a notable upswing, still appears extremely bullish. The price is constantly forming higher highs and lows aiming to regain the levels able $50 before the weekend. No doubt, reaching out to these levels is a tedious job as important resistance at $44, $46 and later at $48 may hinder the rally. However, a major SOL upswing is approaching fast which may raise the price towards the 3-digit figure very soon.

Also Read: Shiba INU(SHIB) in Top 15, This is When it May Enter the Top 10 Defying Dogecoin (DOGE)

solana
Source: Tradingview

According to the patterns formed in the weekly chart, the SOL price formed a constant higher low, starting in May 2021 and ending in June 2022. Moreover, each time, the asset reversed its trend, it began with a Doji candle forming at the end of the bearish trend registering the first green candle after accumulating massive bearish pressure. On the other hand, the altcoin market cycle consists of an 8-month plunge followed by an 8-month consolidation followed by a strong bullish wave. 

Therefore, the possibility of hitting a new low before the consolidation phase is much possible with the beginning of the current rally. Even if the bears strengthen their grip, the probability of a significant rebound toward the immediate resistance close to $75 surfaces. However, a 3-digit figure still appears pretty distinct and a strenuous job to achieve in 2022. 

Was this writing helpful?



Source link

All Image and Text copyrights belong to their respective author at the
Source this is a syndicated feed of information for educational purposes.

DISCLAIMER:
Beneath Part 107 of the Copyright Act 1976, allowance is made for “truthful use” for functions corresponding to criticism, remark, information reporting, instructing, scholarship, and analysis. Honest use is a use permitted by copyright statute that may in any other case be infringing.”

Continue Reading

News

Bitcoin Recovers After Dipping Below $18K, Solana Leads Altcoin Relief Rally: This Week’s Crypto Recap

Published

on

By


Bitcoin’s price dropped to levels not seen since December 2020 and recovered by almost 20% since then. Solana exploded by almost 40% and is leading a relief rally in altcoins.

After a few weeks of extended suffering and depressed price action, it appears that cryptocurrencies are finally seeing some relief. The total market capitalization expanded to slightly below $1 trillion and is pushing to recover above this psychological level at the time of this writing. However, this happened following massive volatility and considerable declines.

First things first, Bitcoin’s price charted an increase of about 4.2% in the past seven days and is currently trading at above $21,000. This isn’t to say that the week wasn’t tumultuous. On the contrary – just a few days ago – on Sunday, BTC dipped to a low of $17,622 (on Binance). The last time the cryptocurrency was trading at such a low level was back in December 2020.

Fortunately, buyers stepped in and managed to intercept any further declines. Since then, the price was able to recover and increased by almost 20%. Even though this might seem impressive, Bitcoin’s recovery was dwarfed by that of many leading altcoins, the best-performing of which seems to be SOL.

Solana is up a whopping 36% in the past seven days, and almost 50% since its lows reached on Sunday – June 19th. Other altcoins are also well in the green in the same timeframe. ETH recovered by some 13% – the same as BNB. ADA is up 5.2% and is evidently lagging behind the rest of the altcoins.

XRP is up 18%, whereas the two largest memecoins by means of total market capitalization – Dogecoin and Shiba Inu – are up 20% and 35%, respectively. Meanwhile, layer-two Ethereum scaling solution – Polygon (MATIC) – has also soared tremendously by more than 50% over the past week.

All of this comes on the back of many investors and community members calling for a bottom, although market sentiment remains largely depressed across the board. Data from the popular crypto Fear and Greed Index clocks in at 11, which, although an improvement from last week, is still far into “Extreme Fear” territory.

All in all, it’s very exciting to see how the weekly candle for most of the cryptocurrencies will close on Sunday and whether or not the current relief can extend into a broader recovery or if it’s just a dead cat bounce.

Market Data

Market Cap: $987B | 24H Vol: $76B | BTC Dominance: 40.8%

BTC: $21,130 (+4.2%) | ETH: $1,200 (+13%) | ADA: $0.49 (+5.2%)

24.06

This Week’s Crypto Headlines You Can’t Miss

Tether to Launch a British Pound-Pegged Stablecoin (GBPT) in July. Tether – the company behind the largest stablecoin by market cap USDT – will launch a new stable cryptocurrency. This time, it will be pegged to the British Pound and will carry the ticker GBPT. It’s supposed to go live in July.

Bitcoin Miners Sold 100% of Their Outputs in May: Analyst. According to analysis, Bitcoin miners have been heavily selling their proceeds over the month of May. Arcane Research analysts believe they sold even more BTC in the month of June. This could also be a sign that the price is getting closer to finding its bottom.

The Largest Investors’ Realized Loss in Bitcoin History Just Happened, But There’s Good News. Investors realized more than $7 billion in losses during the weekend’s crash. This is according to research compiled by the popular resource Glassnode. This took place as Bitcoin’s price plunged from $21,000 to below $18,000 during the weekend.

Harmony Bridge Hacked, $100 Million Worth of Ethereum Lost. A number of tokens were stolen through an exploit of Harmony’s Horizon bridge adding up to a total of around $100 million. These include wBTC, wETH, AAVE, and others. The team has started working with authorities to identify the culprit and retrieve the stolen funds.

Solana Announces a New Crypto Smartphone and a Web3 Developer Kit. Solana has announced that they will produce and ship a smartphone, and users are already able to sign up for the pre-order. It will cost approximately $1,000 and will be available for purchase early next year.

Binance Partners With Soccer Legend Cristiano Ronaldo to Launch Exclusive NFT Collections. The world’s leading cryptocurrency exchange – Binance – has teamed up with soccer legend Cristiano Ronaldo. The exclusive multi-year NFT partnership aims to onboard fans into the Web3 and NFT world.

Charts

This week we have a chart analysis of Ethereum, Ripple, Cardano, Binance Coin, and Solana – click here for the full price analysis.





Source link

All Image and Text copyrights belong to their respective author at the
Source this is a syndicated feed of information for educational purposes.

DISCLAIMER:
Beneath Part 107 of the Copyright Act 1976, allowance is made for “truthful use” for functions corresponding to criticism, remark, information reporting, instructing, scholarship, and analysis. Honest use is a use permitted by copyright statute that may in any other case be infringing.”

Continue Reading

News

Solana To Outperform Other Altcoins Soon, How High Will SOL Price Surge? – Coinpedia – Fintech & Cryptocurreny News Media

Published

on

By


Following Wednesday’s rollercoaster trading, which has seen bitcoin fall below $20,000 and altcoins collapse, crypto-assets calmed and recovered position today.

However, in the previous 24 hours, the worldwide crypto market cap grew 0.05% to $899.78 billion. Around the same timespan, however, total crypto market volume fell 5.85% to $66.53 billion.

Solana To Surpass Other Currencies

According to a well-known crypto expert, Solana (SOL) will outperform other digital currencies in the present phase.

Altcoin Sherpa, an anonymous analyst, warns his 178,800 Twitter followers that the renowned smart contract ecosystem might surpass various altcoins based on Bitcoin’s price fluctuations (BTC).

As per Altcoin Sherpa, he doesn’t really seem to be sure how far Solana could reach, but he anticipates obstacles around roughly $40. He believes SOL Price could fall if this one reaches $50. The smart contract network is now selling at $40.89 at the time of posting.

Decentraland (MANA) is the next cryptocurrency on which Altcoin Sherpa is positive. According to the expert, the virtual reality system is on the comeback after reaching rock bottom.

MANA is presently worth $0.92, up from the bottom of $0.74 in June.

He also reveals his prediction for ApeCoin (APE), one more metaverse token. He believes the cryptocurrency established for the non-fungible token (NFT) community of the Bored Ape Yacht Club might revert to the negative at $6. The current value of APE is $4.54.

In terms of Bitcoin, the expert predicts a “high time period negative marketplace.” At the time of this post, BTC is worth $21,284.

Was this writing helpful?



Source link

All Image and Text copyrights belong to their respective author at the
Source this is a syndicated feed of information for educational purposes.

DISCLAIMER:
Beneath Part 107 of the Copyright Act 1976, allowance is made for “truthful use” for functions corresponding to criticism, remark, information reporting, instructing, scholarship, and analysis. Honest use is a use permitted by copyright statute that may in any other case be infringing.”

Continue Reading

Trending

Copyright © 2022 Solanatimes.io