Cardano defied the large-cap altcoins’ trajectory by noting double-digit gains over the past day. It witnessed record-high volumes and now saw overbought readings on RSI and Bollinger Bands. Contrarily, Avalanche and Algorand flashed bearish near-term technicals. Cardano (ADA) ADA managed to bag the spot of the fifth largest crypto with its recent gains after its […]

Litecoin Price Prediction – January 17 The Litecoin price prediction gains 2.42% in the last 24 hours to touch the daily high at $153 s [...]

Ethereum (ETH) continued its downward correction after the price met rejection at the high of $3,400. The bulls failed to overcome the recent high as the market reached an overbought region.

MANA coin price coils up within a falling wedge pattern in the daily chart, increasing the chances of a breakout. Is it a time to hold or sell? Decentraland defines itself as a computer game platform hopped-up by the Ethereum blockchain that enables users to create, experience, and legitimate content and applications. Decentraland uses 2 tokens: MANA, an ERC-20 token that has got to be burned to amass non-fungible ERC-721 LAND tokens. These tokens may want to get hold of a spread of avatars, wearables, names, and a lot more on the Decentraland marketplace. Let us move ahead to read about Decentraland technical analysis. Past Performance of MANA The MANA coin price action coils up within a falling wedge pattern in the daily chart. The price action shows a downfall of 40% from the inception of the pattern. Moreover, the dynamic resistance of the 50-day Exponential Moving Average keeps the bullish growth in check. MANA/USD Daily Chart MANA Technical Analysis The MANA coin price action is close to giving a breakout of the wedge pattern in the daily chart. Therefore, traders can shortly find a breakout entry opportunity. Crucial EMAs (50, 100, and 200) move sideways in the daily chart with a bullish alignment. However, the price resonates within the 50 and 100-day EMAs resulting in a consolidation range. Therefore, the breakout of either EMAs will generate an entry signal. The MANA price action suggests upcoming high supply areas at $3.45 and $4.15 above the falling wedge. And, in case of a bearish breakout, the price can find demand at $2.5 and $2. The RSI indicator at 46% shows the slope struggling to rise above the central line in the daily chart. However, the slope sustains above the 14-day SMA, indicating a slight rise in the bullish power. The MACD indicator shows a bullish crossover in the MACD and signal lines in the daily chart. The crossover marks the end of bearish histograms and indicates a rise in underlying bullishness. Therefore, the technical indicators suggest a possible bullish breakout of the falling wedge pattern.  Upcoming Trend The MANA coin price shows higher price rejection near the resistance trendline and the 50-day EMA. However, the technical indicators suggest a possible bullish breakout. Nonetheless, the breakout of either side will generate an entry spot.  Therefore, traders can hold their positions till the price action gives a bearish breakout. At press time, the sentiments chart remains “NEUTRAL” for the MANA token. Technical Analysis for MANAUSD

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SCRT coin price breaks above $9 and is soon to complete a rounding bottom breakout. Can we see the bulls create a new high above $10? Secret Network is based on original privacy research and papers from MIT in 2015, including “Decentralizing Privacy.” It is an open-source and permissionless blockchain. It is one of the most influential papers in the blockchain space with 2,000 academic citations.  Nodes on the Secret Network perform general computations on encrypted data that help smart contracts use private and sensitive data as inputs. The primary focus of the network is computer privacy, not just the transactional privacy that is apparent from its name. Let us move ahead to read about Secret technical analysis. Past Performance of SCRT The SCRT coin price action jumps more than 70% resulting in the breakout of $9 in the past week. The breakout of the $9 horizontal level was expected in our previous Secret network technical analysis. Combining the bullish growth and the 50% jump in the intraday trading volume suggests a rise in buying pressure. Therefore, the bulls are strengthening their grip on trend control. SCRT/USD Daily Chart SCRT Technical Analysis The SCRT coin price hints at the completion of a rounding bottom pattern in the daily chart. The breakout of the pattern teases a bull to $16 if the buying pressure sustains. Therefore, traders can find an excellent breakout entry shortly. Crucial EMAs (50, 100, and 200) manage to sustain their bullish alignment as the price jump helps the 50-day EMA avoid crossing below the 100-day EMA. The 20-day EMA provides constant support and rises along with the bullish rally.  The RSI indicator at 73% shows a sudden slanting spike in the slope as it enters the overbought zone. Moreover, the 14-day SMA is above the 50% mark and approaches the overbought zone. The MACD indicator shows the MACD and signal lines maintain equal distance while rising higher into the positive zone. Moreover, the continuation of bullish histograms reflects the bulls regaining trend control again. Therefore, the SCRT price action and technical indicators showcase a boom in buying pressure and trend momentum. That is why the breakout of the rounding bottom pattern seems imminent.  Upcoming Trend The SCRT coin price action is close to completing an extremely bullish price pattern in the daily chart. The breakout of the rounding bottom pattern can drive the prices higher to $16. Therefore, traders can find buying at current prices or at the breakout of $10 to ride the potential rally.  The Secret Network price action suggests high supply areas after $10 at $11 and $12.35. And, in case of a reversal from the neckline at $10, the price can find support at $8 and $7. At press time, the sentiments chart gives a “BUY” signal for the SCRT coin. Technical Analysis for SCRTUSD

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FTM coin price retests the bullish breakout of the inverted head and shoulder in the daily chart. Will the increased buying pressure touch $4? Fantom aims to develop the DeFi and other smart contracts-based decentralized services with the help of a new consensus mechanism. Fantom created this new consensus mechanism, Lachesis, from scratch to increase security and speed. The mechanism has a higher capacity, a faster rate of transaction finalization (~two seconds), and is more secure than the PoS mechanism. Let us move ahead to read about Fantom technical analysis. Past Performance of FTM The FTM coin price shows a growth of more than 10% in the past 24 hours, resulting in a breakout of $3.15. Moreover, the price jump increases the chances of a new all-time high formation. Currently, the price retests the bullish breakout of the horizontal level at $3.15. Therefore, a post-retest bull run can drive the prices higher above $3.5. FTM/USD Daily Chart FTM Technical Analysis The FTM coin price retests the bullish breakout of the inverted head and shoulder pattern in the daily chart. The breakout was predicted in our previous technical analysis. The lower price rejection evident by the long tail formation indicates a boom in underlying bullishness. Crucial EMAs (50, 100, and 200) maintain a bullish alignment in the daily chart, while the 20-day EMA provides constant dynamic support. Therefore, the EMAs help sustain the buying pressure and drive the FTM prices higher. The RSI indicator at 65% shows rejection from the overbought boundary and retraces lower to the central line. Nonetheless, the 14-day SMA and the slope sustain in the nearly overbought zone signaling a stronger bullish side. The MACD indicator shows the MACD and signal lines sustaining above the zero mark by reversing the recent bearish crossover. The lines regain the bullish alignment and rise higher with positive growth in histograms.  Therefore, the underlying growth in the bullish momentum is evident by the pattern breakout and technical indicators. Hence, the FTM coin can shortly resume the uptrend.  Upcoming Trend The FTM coin price retests the bullish breakout of the inverted head and shoulder pattern in the daily chart. Therefore, traders can find a bullish entry at current prices with excellent risk to reward positions to capture the upcoming bullish trend. The Fantom coin price action suggests the key resistance pivot levels at $4.15, once the sustains above $3.5. And, in case of a bearish reversal, the price can find demand at $3.15 and $2.75. The sentiments chart gives a solid “BUY” signal for the FTM coin, at the time of writing. Technical Analysis for FTMUSD

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UNI coin price approaches the resistance trendline of the falling broadening wedge pattern. Can bulls break it this time? Uniswap is a famous decentralized buying and selling protocol, acknowledged for its position in facilitating the computerized buying and selling of decentralized finance (DeFi) tokens. Its objectives are to preserve token buying and selling computerized and absolutely open to anybody who holds tokens. At the same time, enhances the performance of buying and selling as opposed to that on conventional exchanges. The exchange creates greater performance via means of fixing liquidity troubles with computerized solutions, fending off the issues which plagued the primary decentralized exchanges. Let us move ahead to read about Uniswap technical analysis. Past Performance of UNI The UNI coin price action shows a bullish reversal from the horizontal level of $14 resulting in a price jump of more than 20%. The price jumps breaks above the $16 zone and approaches the resistance trendline. However, the bearish candle forming near the trendline hints at a bearish reversal. UNI/USD Daily Chart UNI Technical Analysis The UNI coin price approaches the resistance of the falling wedge pattern in the daily chart. However, the high selling pressure near the trendline seems to suppress the short-term bullish rally.  Crucial EMAs (50, 100, and 200) trend lower in a bearish alignment in the daily chart. The price faces dynamic resistance near the 50-day EMA, resulting in the bearish candle at press time.  The RSI indicator at 51% shows a sudden decrease in the slope resulting in a fall towards the central line (50%) in the daily chart. Therefore, the indicator reflects a sudden fall in the underlying bullish momentum. The MACD indicator shows a rising movement in the MACD line after the bullish crossover with the signal line. Therefore, the indicator remains bullish for the coin.  Therefore, the UNI coin price action and technical indicators wait for the breakout of the trendline or the $16 zone to give a decisive signal.  Upcoming Trend The UNI coin price struggles to rise above the high selling pressure area, moving along with the resistance trendline and the 50-day EMA. However, the $16 support zone stands strong and attempts to push the price higher.  Therefore, traders need to wait for the price action confirmation before picking a side.  The price action suggests upcoming resistance levels at $19 and $22 following the resistance trendline. And, in case of a bearish reversal, the price can find support at $16 and $14. At the time of writing, the sentiment chart gives a “BUY” signal for the UNI token. Technical Analysis for UNIUSD

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ADA coin price is under tremendous buying pressure and hints at double bottom breakout. Will the increased trend momentum reach $2? Founded by Charles Hoskinson, one of the co-founders of Ethereum, CEO of IOHK, Cardano is one of the largest blockchains to successfully use a proof-of-stake consensus mechanism. The new consensus consumes less power than the proof-of-work algorithm on which Bitcoin is based.  On September 12, Cardano released its highly anticipated Alonzo update. After the update, the network now supports a wide array of crypto applications, including non-fungible tokens (NFTs) and smart contracts. Let us look at what the Cardano technical analysis reveals: Past Performance of ADA The ADA coin price action shows a V-shaped recovery in the daily chart with a 30% price jump following the downfall to $1.125. The coin price shows a rise of almost 10% in the past 24 hours, with a 130% rise in intraday trading volume. This indicates a boom in the underlying buying pressure. The price approaches the crucial resistance level of $1.5 that may soon generate a breakout entry opportunity. ADA/USD Daily Chart ADA Technical Analysis The V-shaped in the ADA coin price completes a double bottom pattern in the daily chart. The neckline of the patterns coincides with the resistance level at $1.5. Therefore, the breakout of the pattern will give an excellent buying spot.  Crucial EMAs (50, 100, and 200) trend lower in a bearish alignment in the daily chart. The price breaks above the 50-day EMA and continues to reach the 200-day EMA.  The RSI indicator at 59% shows a sharp increase in the slope resulting in the central line (50%) breakout in the daily chart. Therefore, the indicator reflects a boom in the underlying bullish momentum. The MACD indicator shows a sudden rise in the MACD line driving the line further away from the signal line after the bullish crossover. Moreover, the solid growth in bullish histograms suggests increased buying pressure. Therefore, the rising buying pressure is evident by the technical indicators, increasing the chances of a bullish breakout of $1.5.  Upcoming Trend The double bottom pattern made by the ADA coin price action can shortly give a bullish breakout of the neckline at $1.5. Therefore, traders can expect the breakout to reach the $2 mark by the end of January.  The price action suggests upcoming resistance levels at $2 and $2.30 following the level at $1.5. And, in case of a bearish reversal, the price can find support at $1.125  and $1. At press time, the sentiment chart gives a strong “BUY” signal for the ADA token.

The post ADA Technical Analysis: Double Bottom Breakout Can Reach $2, Is It the Best Buy of 2022? appeared first on Cryptoknowmics-Crypto News and Media Platform.

Bitcoin started a downside correction from $44,500 against the US Dollar. BTC is stable above $42,800 and the bulls might aim a fresh increase above $43,500. Bitcoin is trading in a positive zone above $42,500 and $42,800. The price is trading below $43,500 and the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $43,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a major increase if there is a clear move above the $43,500 resistance. Bitcoin Price Is Holding Support Bitcoin price extended increase above the $44,000 resistance zone. BTC even spiked above the $44,200 level before it faced sellers. A high was formed near $44,400 and the price started a fresh decline. There was a clear move below the $43,500 and $43,200 levels. The price even dived below the $42,500 support and a close below the 100 hourly simple moving average. A low was formed near $41,800 before the price started an upside correction. It traded as high as $43,791 and is currently consolidating. Bitcoin price is trading below $43,500 and the 100 hourly simple moving average. An immediate support is near the 50% Fib retracement level of the recent increase from the $41,800 swing low to $43,791 high. Besides, there is a key contracting triangle forming with resistance near $43,200 on the hourly chart of the BTC/USD pair. Source: BTCUSD on TradingView.com On the upside, an initial resistance is near the $43,200 level. The next major resistance is near the $43,500 level. A clear move above the $43,500 level might send the price towards the $44,000 resistance. Any more gains may perhaps call for a test of the $44,200 resistance zone. The next major resistance is near the $45,000 level. Fresh Decline in BTC? If bitcoin fails to start a fresh increase above $43,500, it could start a fresh decline. An immediate support on the downside is near the $42,800 zone. The first major support is seen near the $42,500 zone. It is near the 61.8% Fib retracement level of the recent increase from the $41,800 swing low to $43,791 high. A downside break below the $42,500 support zone could lead the price towards the $41,800 level. Technical indicators: Hourly MACD – The MACD is slowly losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is near the 50 level. Major Support Levels – $42,800, followed by $42,500. Major Resistance Levels – $43,200, $43,500 and $44,200.

If Bitcoin breaks above $45,500, select altcoins like NEAR, ATOM, FTM and FTT could turn bullish in the short-term.

The broader market saw a decent recovery over the past few days. However, the bulls were still not in a position to alter the general perception as the ‘fear’ sentiment only worsened. After a double-bottom breakout, Avalanche reversed from the $96-zone. While the buyers tried to step in, the ADX displayed a weak directional trend […]

A Flag pattern is leading this correction rally in Decentraland (MANA) token price. The token is still trapped inside this pattern, and so far it has almost lost 50% of its value. The long traders should wait for a bullish breakout from the overhead trendline to acquire a proper long entry signal. Key technical points:

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