Connect with us

Cryptocurrency

XRP, Dogecoin, Ethereum Price Analysis: June 6th

Published

on

XRP, Dogecoin, Ethereum Price Analysis

XRP threatened to lose $ 0.89 support and could take some short-term losses. Dogecoin held the $ 0.361 support but was exposed to selling pressure. On the crypto ladder, Ethereum’s bullish momentum seemed to fizzle out for a breakout above $ 3,000.

XRP

Source: XRP / USD, TradingView

XRP bulls defended the $ 0.89 support, but downside pressure in the market was on the rise. Squeeze momentum indicator a slowdown in momentum and an increase in volatility would exacerbate the losses. A break in support at press time would pull XRP into a demand zone between $ 0.786 and $ 0.63.

Although the cryptocurrency formed an ascending triangle, such patterns have recently been invalidated as broader market signals dictated the move. Stochastic RSI Heading south towards the oversold zone but could find a delayed stay in that region in the event of a breakdown.

Dogecoin

Source: DOGE / USD, TradingView

A look at Dogecoin’s 4-hour chart showed that the cryptocurrency remained stable at $ 0.361 support while battling selling pressures. While DOGE lacked the volatility to make an explosive move, surrendering its support at press time would leave the crypto asset vulnerable to some losses. Defensive lines at $ 0.281 or even $ 0.239 would be in focus in the event of a dip.

A massive plus came in the form of an apartment-like one OBV since the beginning of May. This indicated that there was still a decent volume of purchases in the market – something that could help DOGE against further setbacks. After moving south, RSI Reset around the neutral zone.

ether [ETH]

Source: ETH / USD, TradingView

A quick look at Ethereum’s 12-hour chart would immediately trigger a bullish spike for some market watchers. Price has made lower highs and kept knocking on the door of its overhead resistance at $ 2,910. However, if you dig a little deeper, the picture is slightly different.

According to Squeeze momentum indicatorThe bullish momentum has slowly faded over the past few days. Additionally, BTC has struggled to break above $ 40,000 to $ 42,000 lately. Should this trend continue, the bulls would be on the defensive and ETH could move back towards $ 1700–2000 in a prolonged sell-off.

If ETH is able to keep its current channel forward, the narrative would be bullish again. RSI dragged north in the past few days but stayed at around 50 as of press time

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Cryptocurrency

MATIC, Solana, Litecoin Price Analysis: June 13th

Published

on

MATIC, Solana, Litecoin Price Analysis: June 13th

Bitcoin lost a solid 6.5% in the past 24 hours and its total market cap fell 3.77% to $ 1.492 trillion. While Solana and Litecoin were trading in red on the 4-hour chart, MATIC appeared to be making a green run for itself.

MATIK: –

MATIC reached near its ATH on May 26th and has been in a steady downtrend ever since. In 18 days, the price of the coin fell 41.32% and was trading at $ 1.36 at the time of writing. While Relative Strength Index if it was oversold 12 hours ago, it has since climbed back onto the neutral line thanks to strong buying pressure.

A bullish momentum was seen on the upside Great oscillator in the last 12 hours, with green bars below the neutral line at the time of going to press. Regardless, Parabolic SAR showed an active uptrend as the white dotted line was present under the candlesticks.

Positive dynamism on the market saved the coin falling below the USD 1.23 support level and stronger buy signals could push the price higher.

Solana [SOL] : –

Source: SOL / USD – TradingView

Although SOL has been trading in red for the past few hours, it managed to keep its price from falling closer to the USD 33.5 support level. At the time of writing, Simple moving averages (SMA) leads – 50 SMA (orange) and 100 SMA (red) have different positions on the map. While 50 SMA remained bearish, 100 SMA was just below the price indicator.

In recent observations Average Directional Index (ADX) An increase indicated a decline in prices. The current rise in the indicator could be cause for concern as the red line moves above the 25.0 level. According to the Squeeze momentum indicator, SOL was in an active squeeze release (white dots) at the time of writing, with strong downward pressure.

The chances of the coin dropping below the support line seem plausible based on the indicators, which is why further support has been set at USD 25.7.

Litecoin [ LTC ] : –

Source: LTC / USD – TradingView

Litecoin had developed as expected: The coin did not show any strong volatility in the last few days. LTC’s move remained sideways, consolidating within the USD 185.5 resistance and the USD 145 support level. Even at the time of going to press Bollinger bands showed no inbound volatility as the bands stayed parallel to each other.

Relative Strength Index (RSI) was well below the neutral line. The selling pressure pushed the indicator down to 40.8. Great oscillator on the contrary, there was bullish momentum building when green bars appeared on the indicator

 

Continue Reading

Cryptocurrency

LTC / USD is floating down in the ranges

Published

on

The market value of LTC / USD is now fluctuating downward in the zone boundaries to trade around the $ 159 level at a percentage of around -1.28 at the time of writing.

Swings deeper in the areas: LTC market
Key levels:
Resistance Levels: $ 200, $ 250, $ 300
Support levels: $ 130, $ 1200, $ 110


LTC / USD – daily chart
The daily LTC / USD chart shows that the cryptocurrency is swinging down at the USD 150 range line. There were still some volatile price movements in the lower trading zone that the market has maintained over time. As a result, all SMA indicators hardly differ in their positions on the chart. The 50-day SMA lies above the 14-day SMA with a small margin in between as the bearish trendline moved across it from top to bottom. The stochastic oscillator lines are slightly open and point south between areas of 40 and 20. This means that a downward force is lasting for some time.

With lower price fluctuations around the LTC / USSD area limits, will it take any longer?

The trading operation between Litecoin and the US dollar fluctuates excessively around the lower bounds of the market. The main range values ​​of $ 150 and $ 200 are still intact as the price continues to fluctuate around them. Bulls also try to locate support around the lower range line over time. But they haven’t made the much-needed effort to achieve a sustainable recovery. However, a lot is expected of them, in particular by finding decent entries as the price drops more significantly below the lower range of the market.

To date, bears between the range-bound zones have the opportunity to defend themselves against any possible active upswing that price tends to make. Meanwhile, the immediate resistance level of $ 200 remains the best entry area to get a decent return on the downside if range trading style needs to continue. But most of all, the LTC / USD bears will have to watch out for the lower range of USD 150 afterwards.

LTC / BTC price analysis

With the value of Litecoin fluctuating downward by a reasonable amount when paired with Bitcoin, the trend still appears to be in favor of the base trading instrument. The bullish trendline drawn is currently the only self-inclined technical tool that represents this on the price analysis chart. The 50-day SMA indicator is broken to the south as the 14-day SMA trendline is just above it. The stochastic oscillators are immersed in the oversold area with slightly crossed lines pointing north in area 20. This suggests that an upswing in the womb is the time to side with the base cryptocurrency versus the flagship counter-cryptocurrency.

Continue Reading

Cryptocurrency

Cardano SPO column: WeQanhet (WEQNT)

Published

on

Cardano SPO column

This week’s guest at the Cardano SPO column is a purpose-oriented participation pool with several Charity projects in developing countries, including solar lighting and freshwater fountain: WeQanhet (WEQNT).

Last week’s guest was a Stake pool managed by a single operator who creates in-depth Cardano-related educational content.

This initiative is a reference point for everything Cardano and every week or two we invite Stake pool operators (SPO) to answer some questions and to give us an update directly from the Cardano community.

When you consider that many of our readers are new to the crypto space, We’ll have a mix of simple and technical questions.

Hello Denicio, nice to have you here. Tell us a little bit about yourself, where are you from and what is your background?

Hello everyone, my name is Denicio Bernier and I come from the Netherlands. I got to blockchain in late 2017 after accepting a colleague’s challenge to come up with a list of projects that I thought were better than Ethereum and Bitcoin.

It took me a week researching multiple projects, but the only one that really caught my focus was Cardano. The reason Cardano caught my attention was because of the team behind the project and their goal of solving the land registry issue, something that has plagued my family for over 30 years.

Since discovering Cardano, I have devoted my time to learning more about the project and to informing others about it.

What made you decide to become a Cardano Ambassador and Stake Pool Operator?

Before I became an ambassador, I had a podcast that focused on interviewing community members. The idea behind the podcast back then was to show the world that Cardano has a real, lively and active community. The community back then wasn’t as big as it is now, so I wanted to show the world that we actually have a community from all over the world.

With regard to running a stake pool, I believe that every active community member should either operate a stake pool or delegate their stake to a community-based stake pool. As an ambassador, I see it as my duty to lead by example and to help secure the network by operating a single stake pool.

What charity projects are you working on and where?

Stake Pool WEQNT is dedicated to providing free solar lighting to people who live in rural desert areas in Africa. We do this with great love and passion for people and hope that through this we can help improve their quality of life. We are also in the process of raising funds to start drilling water wells for the same communities.

I believe that nobody has to walk kilometers just to get a bucket of water. In addition, the water taken from springs often contains a wide variety of bacteria that are not beneficial to people’s general health. So if we can help solve some of these problems with the help of the community, then that’s what we should do.

Your stake pool has been around since the ITN (Incentivized Testnet). Based on your experience, what advice do you have for new SPOs? How can they grow?

Indeed, I’ve been with the ITN. It was a very special time. We were all just learning how to set up an equity pool, market our business, and develop relationships with our delegates. Really an unforgettable time!
Since the ITN, I’ve always said that WEQNT wants to provide free solar lighting to people who live in rural desert areas in Africa, and yes, I’ve kept that commitment!

I would advise other SPOs who are just starting out or who are having difficulty attracting delegations to create more visibility for their company and to build honest and sincere relationships with their community of (potential) delegates

Thanks for your time. Any final thoughts? Where can people find you?

The pleasure is mine. I really enjoyed that. This is a great example of how someone can contribute to the advancement of the Cardano ecosystem – in your very own way.

If someone would like to support us, they can delegate to the WEQNT deployment pool.

We are a high-performance investment pool with a solid mission and we want to continue to grow and do more good for people in need.

 

Continue Reading

Trending