Bitcoin Price Prediction – January 22There has been a further significant declining moving nature in the BTC/USD market operations as the crypto-economic business lowers, trading [...]

Bitcoin and most major altcoins are close to breaking below critical support levels and traders’ reluctance to buy in the current range could exacerbate the sell-off.

The post Investors Incur Huge Loss Amid the ‘Bitcoin Crash’, Yet There May Be Still A Chance of Recovery! appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

The Asian-trading day began with the huge crypto crash fueled by a major drop in Bitcoin prices. The dominant crypto had played multiple times along the $41K price zone and constantly flipped each time. And hence it was believed that the BTC price may recover soon, however, the on-chain metrics and the technicals always pointed …

The LRC coin price shows a free fall as it breaks below the flag pattern and hangs close to the 200-day SMA. Will it manage to rise again? LRC represents the Ethereum-powered crypto token used by Loopring. It is an open protocol that was designed to facilitate the creation of decentralized crypto exchanges. LRC tokens were made available to the general public in the initial coin offerings (ICO) during August 2017. The Loopring protocol was launched on the Ethereum main net in December of 2019. Let us move ahead to read about LRC technical analysis. Past Performance of LRC LRC coin price breaks below the flag pattern in the daily chart and retests it before giving a downfall to the $1 mark. It results in a free fall of more than 30% in the past week, forecasted in our previous article. However, the price action shows long tail formations in the daily chart near $1 that may soon result in a morning star pattern. LRC/USD Daily Chart LRC Technical Analysis The LRC coin price hangs close to the $1 mark after the downfall from the flag pattern. However, the recent downfall in the coin price reflects increased bearish momentum that may shortly break below the $1 mark.  The Loopring token prices hinge near the confluence of $1 and the 200-day SMA in the daily chart. Moreover, the spark fall in the 50-day SMA indicates a high possibility of a bearish crossover with the 100-day SMA. The Super Trend indicator shows a downtrend in action as the price breaks below the flag pattern and 10-day average true range.  The Bull Bear Power indicator shows a rising bearishness in the LRC coin price as the slope breaks below the zero line.  Therefore, the technical indicators reflect a rise in underlying bearishness evident by the increased trend momentum in the falling LRC prices.  Upcoming Trend The LRC technical analysis shows the coin price hanging close to a high-demand confluence area of the $1 psychological mark and the 200-day SMA. However, the increased selling pressure teases a fallout below the $1 mark. However, if the prices gain bullish momentum near the demand area, a price jump to the next horizontal levels at $1.35 and $1.55 is possible.  Nonetheless, the fallout of 200-day SMA due to increased selling pressure can result in a free fall to $0.60 or $0.35. At the time of writing the article, the technical indicator by TradingView gives a “SELL” signal for the Loopring token. Technical Analysis for LRCUSD by TradingView { “interval”: “1D”, “width”: “100%”, “isTransparent”: false, “height”: “100%”, “symbol”: “BINANCE:LRCUSD”, “showIntervalTabs”: true, “locale”: “in”, “colorTheme”: “dark” }

The post LRC Technical Analysis: Bearish Breakout Brings Downtrend To 200-day SMA appeared first on Cryptoknowmics-Crypto News and Media Platform.

The technical chart indicates the overall trend for Chainlink tokens is still sideways. The token price was recently rejected from the $28.7 resistance, which initiated a minor pullback. The price is currently hovering above the $21.1 support, looking for enough demand pressure. Key technical points:  The 4-hour-MACD indicator shows its lines are on the verge of crossing

The post Chainlink Price Analysis: LINK Token Price Discounted By Over 26%; Is This A Good Buy? appeared first on CoinGape.

Sell pressure on BTC and altcoins is beginning to alleviate, but data suggests that it’s too early to call for a reversal.

The post Big Day For Cardano ! What Can ADA HODLERS Expect On January 20th appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

Can Cardano Maintain Its Rally? Cardano goes ‘full send’ with 50% The crypto market is once again painted in red, and Bitcoin’s price is no less than a suspense thriller movie these days, with the commodity plunging hard below $41,000 whenever a breakthrough above $43,000 is near.  Despite a world-record-breaking token burn, the price of …

Crypto analyst Benjamin Cowen says a handful of factors could prevent Cardano (ADA) from kicking off a bull run right now. In a new YouTube update, Cowen tells his 692,000 subscribers that Bitcoin (BTC) is the “number one” limiting factor that could prohibit ADA’s price from surging higher. The analyst explains that BTC controls the health of the market […]

The post Can Cardano Continue Its Rally? Crypto Analyst Benjamin Cowen Looks at What’s Ahead for ADA appeared first on The Daily Hodl.

Correlating with the Bitcoin sentiment, XRP skewed towards the sellers after marking oversold readings on its RSI and losing the 61.8% Fibonacci support. Further, Stellar fell below its 20-50-200 SMA. However, these cryptos saw an increasing CMF, keeping the bullish revival hopes alive. On the other hand, AAVE saw a golden cross after the 20 […]

Last week’s recovery in Binance coin (BNB) price was rejected from a descending trendline. However, a recent news that Binance coin has implemented its first quarterly Auto-Burn favors the BNB investors. The auto burn resulted in removing a total of 1,684,387.11 BNB from its circulation, including  the 6296.305493 BNB burned during the Pioneer Program Burn. Key

The post BNB Coin Price Analysis: BNB Price Moving Back to Lower Support, Teasing To Continue this Correction appeared first on CoinGape.

  Terra’s price falls continue for three sessions after making an interim high of $90.00. The downside risk could be intensified if the weekly support of $65.28 is broken. However, the price could swing in between the range of $$72.0 and $78.0 until the market finds its equilibrium. Terra price downward momentum slows down in

The post Terra (LUNA) Price Seeks Upside Of 10% Near 61.8% Fibonacci Retracement appeared first on CoinGape.

ENJ coin price action is under the influence of a bearish descending triangle pattern. Will buyers lose the $2.1 support as well? The Enjin blockchain ecosystem seeks to provide software solutions that enable anyone to build, trade, monetize and trade using blockchain. Established in 2009, Enjin is a part of the gaming industry. Its roots are in its first product, a gaming community platform dubbed the Enjin Network that grew into 20 million customers in the span of more than a decade. Enjin Coin is an electronic store of value that is used to protect the value of blockchain assets, such as Non-fungible Tokens (NFTs). Each asset created using the Enjin Platform contains ENJ, the minting resource that is kept in NFTs until taken out of circulation. Minting blockchain assets using the Enjin token offers a range of advantages for creators and users: Let us move ahead to read about Enjin’s technical analysis. Past Performance of ENJ The correction phase in ENJ is struggling to break down from the $2.1 support. However, the series of lower highs in the technical chart has revealed a descending triangle pattern. The pattern presents its neckline at the $2.1 mark, and the crypto traders should wait for the price to breach this support to get a sell signal. Furthermore, the decreasing volume activity within this pattern indicates the trapped momentum, which should outburst when the price escapes the chart pattern. ENJ/USD Daily Chart ENJ Technical Analysis The ENJ coin price has recently faced another rejection from the descending trendline. The coin is currently approaching the bottom support after completing a falling three-method candle pattern. The crypto traders should closely watch for price action at this high area of interest. As the price might retest this $2.1 for another support. Crucial EMAs (50, 100, and 200) in the daily chart maintain a bullish trend as the coin price is still trading above the 200 EMA. However, the other EMA lines could interrupt any bullish attempt.  The RSI indicator (43%) moving below the neutral line indicates a bearish sentiment among the market participants. The RSI slope has dropped below the 14-day SMA line. The MACD indicator shows several crossovers among the MACD and signal line due to the consolidating price action. However, the price action is still under a bearish influence as these are roaming below the neutral line. In short, the price action resonating in the triangle pattern might have caused inactive momentum in the technical indicator. However, they still indicate an overall bearish outlook for the ENJ coin. Upcoming Trend The failure to sustain above the $2.1 support will boost the selling pressure in this coin and drop it to an even lower level, i.e., $1.75 or $1.5. Even though this pattern promotes the continuation of bear attacks. The final call depends on the price action, on which side it provides a breakout. Therefore, the crypto traders should be patient till the price doesn’t breach the bottom support($2.1). The ENJ coin price chart suggests the next support levels at $1.7 and $1.5. And, in case of a bullish reversal, the price can find resistance at $2.5 and 50-day EMA. At the time of writing, the technical analysis by TradingView shows a rise in bearish sentiments as it gives a “SELL” signal for the ENJ coin. Technical Analysis for ENJUSD

The post ENJ Technical Analysis: Descending Triangle Pattern Threatens to Extend Correction Rally appeared first on Cryptoknowmics-Crypto News and Media Platform.