Connect with us

Blockchain

Tezos, Dash, Algorand Price Analysis: 16 January

Republished by Plato

Published

on

Altcoins such as Tezos and Algorand were surging on the charts and eyed newer local highs, but the indicators suggested that a reversal could impact the prices soon. DASH projected upside as momentum was looking to shift towards the buyers. However, the extent of bullishness could be determined by the broader market.

Tezos [XTZ]

Source: XTZ/USD, TradingView

Tezos found bullish momentum after the crypto’s price picked up from $2.18-support over the past week. In fact, XTZ rose by over 30% after touching this support level, while even snapping a local high at $3.09. The crypto’s price will be carefully observed over the next few trading sessions, as an extended bull run could lift XTZ towards its August 2020 levels. At press time, the indicators suggested that a pullback could be on the cards, with momentum likely to shift towards the sellers.

Since the Relative Strength Index was in the overbought zone, a potential reversal could see the price fall and move towards the $2.69-support.

However, the On Balance Volume disagreed with the RSI and suggested that an increase in buyer numbers could see the bullish trend draw out for a few more sessions.

Algorand [ALGO]

Source: ALGO/USD, TradingView

During the last three days, ALGO has performed impressively on the charts, having by over 33%. The surge in value also lifted ALGO’s market cap after it closed in on the $600-million mark. However, the price could be at its tipping point and the support at $0.47 could be in focus if the price moves south.

The Stochastic RSI moved in the overbought territory, a region from where prices typically reverse and move lower. Since the index was pointing upwards, ALGO could trade within the upper region for a few sessions before moving lower towards its immediate support. On the other hand, an extended rally could see the price topple the $0.54-resistance level.

Although the Chaikin Money Flow was above equilibrium, it was heading lower and showed that capital was moving away from the cryptocurrency.

Dash [DASH]

Source: DASH/USD, TradingView

At press time, DASH was trading at $127, down by over 5% in the last 24 hours. However, the support at $119.9 offered some respite and the price looked to move towards its immediate resistance over the past few trading sessions. A bullish scenario could see the price break above its upper ceiling and head towards the strong resistance level at $135.6. While the indicators suggested a bullish outcome for the price moving forward, a further boost from the broader market could be required if the price is to breach the $135.6-mark.

The MACD indicated that bearishness was on the decline as the fast-moving line looked to catch up to the Signal line.

The Awesome Oscillator registered a signal point of bullishness and hinted that momentum could shift towards the buyers in the near future.

Source: https://ambcrypto.com/tezos-dash-algorand-price-analysis-16-january

Blockchain

Bitcoin’s Dominance Rises as BTC Reached a 4-Day High at $35,500 (Market Watch)

Republished by Plato

Published

on

Although bitcoin failed to continue upwards after its intraday high of $35,500, its dominance over the market has increased further. This comes as most alternative coins have stalled, except for Dogecoin, which is up by double-digits.

BTC Dominance on the Rise

After the mid-week crash, in which bitcoin slumped below $30,000 for the first time since January, the asset’s performance has been calmer. It recovered most losses and even spiked to just shy of $35,000 on the following day but failed to continue higher as reported.

The bears drove it south to around $32,000, but the trajectory quickly reversed in the following hours. BTC started climbing again and added more than $3,000 of value.

As a result, it charted a four-day high of approximately $35,500. Despite losing over a grand since then, its dominance over the market has actually increased.

The metric comparing BTC’s market capitalization with all other cryptocurrencies is up to 47%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Alts Stall While DOGE Pumps

Most of the alternative coins have remained stagnant on a 24-hour scale. Although Ethereum recovered from its most violent stages of the crash, it still fails to overcome $2,000 decisively. As a result, ETH trades just north of $1,900 for a second consecutive day.

Binance Coin jumped higher in the past 24 hours and even exceeded $310 at one point, but has retraced since then and is currently around $290. Cardano, Polkadot, Bitcoin Cash, and Chainlink are slightly in the red since yesterday.

In contrast, Ripple, Uniswap, Litecoin, and Solana have marked minor gains. Dogecoin is the most impressive performer once more from the larger-cap alts following a 10% increase to $0.26.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

More fluctuations come from lower- and mid-cap alts. Celo (20%) has surged the most, followed by Nano (16%), Siacoin (12%), THORChain (12%), Curve DAO Token (11%), and Waves (10%).

Klaytn has lost the most from yesterday after a 14% drop. Nevertheless, the cumulative market capitalization of all cryptocurrency assets has remained just shy of $1.4 trillion.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

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.


PlatoAi. Web3 Reimagined. Data Inteligence Amplifed.
Click here for Free Trial.

Source: https://cryptopotato.com/bitcoins-dominance-rises-as-btc-reached-a-4-day-high-at-35500-market-watch/

Continue Reading

Blockchain

Elon Musk Agrees to Have the Bitcoin Talk With Jack Dorsey

Republished by Plato

Published

on

After laughing at Jack Dorsey’s proposition for a Bitcoin conference earlier, Elon Musk has actually agreed to a BTC conversation with the CEO of Twitter at the event.

  • As reported earlier, Elon Musk likes to have fun with the cryptocurrency community. Perhaps that’s why he initially laughed at Jack Dorsey’s most recent Bitcoin endeavor.
  • The CEO of Twitter announced plans to hold a designated BTC event aiming to “help protect and spread what makes bitcoin open development so perfect.”
  • After the initial laughter from Tesla’s CEO, though, Dorsey asked Musk to have a conversation at the event where the latter could share all of his “curiosities.”
  • Later on, Musk indeed agreed to have “THE talk” at the event, which should take place on the 21st of July this year.
  • Apart from Dorsey, some of the other popular names that will speak at the conference include the CEO and CIO of ARK Invest, Cathie Wood, and the CEO of Blockstream, Adam Back.
  • With this event, Twitter’s CEO continues to reaffirm his support for the primary cryptocurrency.
  • During the 2021 Bitcoin Conference in Miami, he called the asset the most important work of his lifetime. Furthermore, he said he would leave Twitter and Square if BTC needed him.
  • His personal Twitter account continues to display only one word – bitcoin. Additionally, he partnered with the legendary rapper Jay-Z to donate 500 BTC to fund developers working on the network.
SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


PlatoAi. Web3 Reimagined. Data Inteligence Amplifed.
Click here for Free Trial.

Source: https://cryptopotato.com/elon-musk-agrees-to-have-the-bitcoin-talk-with-jack-dorsey/

Continue Reading

Blockchain

SOLANAX Private Sale Is On For The Cross-Chain DEX

Republished by Plato

Published

on

[PRESS RELEASE – Please Read Disclaimer]

The cryptocurrency market has left people wondering about the long-term growth prospects and which cryptocurrency they should invest in. Solanax is an automated market maker (AMM) based on the Solana blockchain, which is set to be a game-changer in the cryptocurrency world.

The SolanaX Platform

After parsing through their team of professionals, whitepapers, their project plans, and unique platform capabilities, there is no doubt that once the platform is up and running in full swing, it will undoubtedly change the way people transact today with its simple interface for the public to trade at a record higher blockchain speed and lower gas fees.

  • There are no time-consuming processes or intermediaries.
  • It offers a very simple interface and lower gas fees while initiating the transactions.
  • Solanax increases blockchain speed and makes it more convenient to transact than its peers in the cryptocurrency market.
  • As Solanax is based on Solana’s Proof-of-History verification concept rather than a Proof-of-Work system (as that of Ethereum’s), it will enable users to leverage Solanax’s phenomenal transaction capabilities (Solanax to handle thousands of transactions in a second as compared to Ethereum’s 15).
  • The most crucial part is that while speeding up blockchain transactions and lowering gas prices, Solanax does not compromise on the security aspect.

The Ongoing Private Sale Of Solanax

Solana blockchain is substantially faster compared to its peers, and the ongoing private sale is an opportunity for crypto enthusiasts and investors to participate in this game-changer prospect.

The private sale is still ongoing until Friday, 25th June.

Total Supply: 80 000 000 SOLD Tokens

There will be 20 Million SOLD Tokens distributed before the CEX listing.

Private Sale: Total available token supply – 10,000,000 SOLD

Period: From 06/06/2021 to 25/06/2021

Token Price: $0.1 with a 3months vesting period

Token Price: $0.15 w/o vesting period

Initial Exchange Offering: Total available supply – 10,000,000 SOLD

Final Words

Solanax aims to revolutionize the DeFi exchange network and enhance efficiency levels to new highs. With DeFi gaining popularity, there is an urgent need for the industry to look beyond the older cryptocurrency platforms like Bitcoin and Ethereum. The sluggish transaction speed is one of the prime reasons for Solanax not preferring the Ethereum-like platforms. Besides, Solanax, with its high blockchain speed, simple interface, and low gas fees, is truly a game-changer for crypto aficionados, and Solanax’s Ongoing Private Sale presents the perfect investment opportunity for investors.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.


PlatoAi. Web3 Reimagined. Data Inteligence Amplifed.
Click here for Free Trial.

Source: https://cryptopotato.com/solanax-private-sale-is-on-for-the-cross-chain-dex/

Continue Reading
Blockchain4 days ago

Legends: The premium NFT minting platform

Uncategorized4 days ago

Origin Protocol Price Prediction 2021 – Will OGN Hit $5 Soon?

Assets2 days ago

Hedge fund that shorted GameStop closes as $1.13B GME stock offer completes

Blockchain1 day ago

Active Bitcoin Addresses Reach the Lowest Level in 12 Months

News5 days ago

When is the right time to buy Bitcoin?

Blockchain5 days ago

Indian Police Arrested ”Crypto King” Who Traded Drugs for Bitcoin

Blockchain3 days ago

PayPal and Visa Lead $300M Funding for Blockchain Capital

Blockchain1 day ago

7 Altcoins That Make You a Billionaire in 2022

News4 days ago

New Bill Aims To Make Paraguay a Global Crypto Hub

News3 days ago

Crypto Trader’s $20 Investment Explodes to $1,184,154,683,482 on Coinbase – But He’s Not Cashing Out

Uncategorized5 days ago

Is $SHIB Better Than $DOGE? And Other Crypto ($BTC, $ETH, $CHZ) News From Paraguay

Blockchain4 days ago

3 Tons of Bitcoin Mining Rigs Will Reportedly Relocate From Guangzhou to Maryland

News5 days ago

Battlegrounds Mobile India sending your data to a Chinese Server: Report

Blockchain2 days ago

Cardano Founder: Ethereum Will Overtake Bitcoin

Blockchain3 days ago

Terra Virtua’s Mechagodzilla NFT sold for $33,700 by Blockmuse

Blockchain5 days ago

Every quad witching, this Chainlink price trend can be observed

Blockchain2 days ago

MATIC, USDT, BAL, WBTC + 3 more cryptocurrencies now available for trading on CoinJar

Blockchain2 days ago

Despite the Bounce: Bitcoin Might Still Retest $24K as Final Leg Down

Blockchain3 days ago

‘Bitcoin’s six-week run of outflows has been driven’ by these factors

Blockchain1 day ago

John McAfee’s Strange Suicide Leads To Even Stranger Conspiracy Theories

Trending