The fallout of $2 increases selling pressure in the MATIC coin price. Will the 200-day SMA stand strong or succumb under bearish power? Polygon’s new features are built on the technology that has been proven to increase the capacity to meet the diverse requirements of the developer-based ecosystem. It continues to improve its core technology to ensure that it is able to scale to accommodate a wider ecosystem. Polygon boasts the ability to process up to 65,000 transactions every second in one side chain and a solid block confirmation speed of fewer than 2 seconds. Polygon also permits the creation of global decentralized financial apps using a single blockchain. Let us move ahead to read about Polygon technical analysis. Past Performance of MATIC MATIC coin price action shows a fall of almost 30% in the past week due to the increased selling pressure all over the market. The breakout of the head-and-shoulders pattern, mentioned in our previous article, is below the $2 support. The fallout results in a downfall of almost 15% within 24 hours, resulting in the formation of a bearish engulfing candlestick.  MATIC/USD Daily Chart MATIC Technical Analysis The MATIC coin price shows a rise in bearish trend momentum and selling pressure. It is evident by the pattern breakout and a 20% jump in trading volume. Moreover, the price falls below the $1.70 mark as it heads lower to the $1.5 mark. The falling 20-day SMA breaks below the 50-day SMA as it heads lower to the 100-day SMA to give another bearish crossover. Moreover, the price breaks below all the SMAs except the 200-day line as it struggles to find support near it.  The MACD indicator shows the MACD and signal lines cracking below the zero line in the daily chart. With the increasing trend of falling histograms and increasing gap between the fast and slow lines, the rise in selling pressure is crystal clear.  The Momentum indicator shows a downfall in the slope below the zero line in the daily chart. The slope at -0.72 shows a sudden jump in the underlying bearish momentum. Therefore, the technical indicators suggest a growth in bearish power as the price breaks below the $2 mark. Moreover, the 200-day SMA breakout seems imminent. Upcoming Trend The MATIC coin price action shows growth in underlying selling pressure after the fallout of the rising channel and the support level at $2. The increased bearish trend momentum may shortly break below the 200-day SMA to reach the $.5 or $1.2 mark. However, if the prices find support near the 200-day SMA, the resistance levels are at $2 and $2.15. At press time, the technical Analysis by TradingView gives a “SELL” signal for the MATIC coin. Technical Analysis for MATICUSD by TradingView

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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” }

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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 […]

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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

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