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Tezos Price Analysis: 16 January

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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice

Tezos’s [XTZ] market has been seeing strong northbound momentum in the short-term. While a part of this growth could have been a result of Bitcoin’s market rally, the XTZ market seemed to be surging past the impetus given by Bitcoin. At the time of writing, XTZ was being traded at $ 3.04, a price level unseen since September 2020.

Tezos one-hour chart

Source: XTZUSD on TradingView

The attached chart noted the upwards rising price of XTZ. The recent ascending channel had narrowed on the charts, with the same registering a sharp rise in the price of the digital asset. Before reaching this price level, the value of XTZ bounced around the support at $2.7468.

However, following the latest surge in price, the market’s traders may want to wait for the opportunity for the price to stabilize before taking any action. On the contrary, the hodlers may want to continue to HODL.

Reasoning

The 50 moving average was observed to have ducked way under the candlesticks, an indication of the sudden and sharp rise in the price of XTZ. Although we may see a correction in the short-term coming, the market at press time seemed to be extremely bullish. This was also highlighted by the strong rising momentum on the Awesome Oscillator.

The AO has been noting a rise in momentum with the buying pressure increasing for a while now. The length of the bars determined the momentum in the market to be very strong at the given time. On the contrary, the Relative Strength Index also noted a quick journey from the equilibrium zone to the overbought zone.

As XTZ’s price hit the resistance level at $3.11, the RSI also topped. A falling price will underline the notion that traders are indeed selling the digital asset.

Conclusion

In light of the bullishness in the market at press time, XTZ’s value brushed against a resistance level on the charts. In all likelihood, the price might retrace in the short-term. It should be noted, however, that this won’t be more than a minor hiccup before XTZ really breaches this level.

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

Blockchain

Libra Coin – A New Digital Currency Developed by FACEBOOK

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Libra, Let’s get started:

Technology has improved the world around us, it is easy to send text, pictures, and documents but why not money.
What if we made the money truly global, stable, and secure. What if everyone has invited to the Global economy with access to the same financial opportunities.
This thought laid a pavement for Introducing LIBRA a new global currency designed for the digital world, backed by the belief that money should be fast for everyone from any corner of the world.
Its powered by Blockchain, making it safe, accessible, no matter who you are and where you’re from.
Join the world of LibraCoin where money works for everyone.

Check out the following infographic on – Libra: Cryptocurrency By Facebook (In 5 Minutes) – Developed by WinBTC.net.

libra

 

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Blockchain

The Hard Sell

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The prices are low and the panic is high. Is this the time to sell?

If you’ve been around crypto for longer than a couple of months, you’re probably familiar with the feelings that come with your average market-wide correction.

Euphoria fizzling away as that first red candle starts dropping down, down, down. Confidence in a quick recovery giving way to sweaty-palmed anxiety as the correction passes the 10, 20, 30% mark. Is this the big one? We all know what happened on March 13th last year. Finger hovering over the “Sell” button, knowing that if you just pressed it this horrible feeling would go away.

And even worse are the recriminations. How could I have been so blind? How did I let this happen? Why didn’t I sell when the going was good? Will I ever feel joy again?

Unrealised profit and loss

Look, I’m not going to say I told you so, but if there has ever been a market in need of a correction it was the crypto market of the last two months. It wasn’t a question of if your alt was going to do a 50 or 100% day; it was a question of when. Meanwhile, Bitcoin basically tripled its 2017 all-time high over the course of eight weeks, making it (briefly) a trillion dollar asset.

It’s not that bitcoin doesn’t deserve to be in that August club, but more to point out that markets will always revert to the mean, no matter how compelling the background narrative might be. And in the same way that you don’t expect to see an elephant jump over a small apartment block, an asset of bitcoin’s size shouldn’t be tripling in size like it ain’t no thing. Especially not when it’s taken three long, hard years to get back to its previous peak.

Timing is everything

Here’s the thing though: in every other market that humanity has ever created, taking three years to make a new all-time high actually is perfectly reasonable, bordering on suspiciously fast. Investments aren’t supposed to be measured in days or weeks. They’re supposed to take years, if not decades to play out. But the speed, 24/7 relentlessness and hyper-visibility of the crypto markets means it’s very easy to lose sight of the bigger picture. People who bought in at the absolute peak of the last bubble are still up 250% – presuming that they had the patience to hold on for a measly three years.

Nonetheless, selling can produce a real and concrete advantage. Get out near the top and you might be able to buy back in close to the bottom, thereby compounding your gains. (Despite what the people of TikTok Investors would have you believe, this is far harder than it appears.)

More simply though, money is money and when assets are appreciating like crypto assets have recently that can mean getting ahead of your mortgage, or buying a car, or paying for a holiday for your family, or being able to cover rent for the next month. If what you’ve made could make a difference in your life, then it makes complete and total sense to sell some – even if you think the crypto market is going to keep on going up. As the old adage goes, no-one ever went poor from taking profits.

Respect the sell-out

That’s not an invitation or a suggestion to sell it all right now – a good rule of thumb is sell when it feels hard (i.e. on the way up) not when it’s easy (on the way down) – but more to start thinking about what your endgame is. What do you hope to gain from this bull run? How much is enough? And will you be strong enough to start getting out when you reach your target? (Also, on a more prosaic note, what would taking profits mean for your tax?)

These are questions without easy answers, but start planning now and you’re less likely to be swept up in the mania and delirium that marks the real, bloody and unmistakable end of the bull market. And until then? DIAMOND HANDS ENGAGE.

Source: https://blog.coinjar.com/the-hard-sell/

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Kraken Daily Market Report for March 02 2021

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Overview


  • Total spot trading volume at $1.68 billion, down from the 30-day average of $2.09 billion.
  • Total futures notional at $584.1 million.
  • The top five traded coins were, respectively, Bitcoin, Ethereum, Tether, Cardano, and Polkadot.
  • Strong returns from Curve Dao (+12%), Flow (+5.1%), and Melon (+6.4%).

March 02, 2021 
 $1.84B traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$47305. 
↓4.6% 
$623.9M
ETH 
$1472.1 
↓6.3% 
$297.8M
USDT 
$1.0002 
↓0.04% 
$226.1M
ADA 
$1.1855 
↓8.6% 
$168.3M
DOT 
$34.578 
↓3.3% 
$92.7M
LINK 
$27.706 
↓0.13% 
$39.1M
LTC 
$171.43 
↓2.6% 
$32.2M
USDC 
$1.0001 
↑0.02% 
$29.3M
XRP 
$0.4248 
↓4.7% 
$25.3M
FLOW 
$29.937 
↑5.1% 
$23.5M
BCH 
$510.82 
↑1.8% 
$16.7M
XLM 
$0.4002 
↓7.0% 
$14.2M
ATOM 
$18.076 
↓3.2% 
$11.1M
XDG 
$0.0494 
↓2.2% 
$10.4M
ALGO 
$1.0438 
↓4.2% 
$9.52M
UNI 
$24.705 
↓4.2% 
$9.48M
GRT 
$1.7315 
↓10% 
$8.56M
AAVE 
$380.08 
↓1.4% 
$8.27M
KSM 
$220.21 
↓3.6% 
$6.96M
XTZ 
$3.5045 
↓3.7% 
$5.26M
XMR 
$213.01 
↓7.9% 
$5.15M
CRV 
$2.2335 
↑12% 
$4.49M
COMP 
$491.44 
↓0.6% 
$4.4M
SNX 
$21.110 
↑2.0% 
$4.39M
DAI 
$1.0002 
↓0.1% 
$4.27M
DASH 
$211.44 
↓5.7% 
$4.06M
FIL 
$37.555 
↓2.7% 
$3.94M
EOS 
$3.5797 
↓3.5% 
$3.43M
KAVA 
$3.8026 
↑2.2% 
$3.35M
BAT 
$0.5661 
↓3.4% 
$2.89M
TRX 
$0.0455 
↓4.9% 
$2.81M
ZEC 
$117.22 
↓5.8% 
$2.81M
YFI 
$32530. 
↓6.6% 
$2.73M
ICX 
$1.5690 
↓6.2% 
$2.6M
OMG 
$4.4644 
↓3.3% 
$2.21M
SC 
$0.0098 
↓3.3% 
$1.84M
OXT 
$0.4676 
↓4.9% 
$1.84M
NANO 
$5.0287 
↓5.4% 
$1.71M
LSK 
$3.0426 
↓3.9% 
$1.7M
QTUM 
$4.9728 
↓5.7% 
$1.6M
MANA 
$0.2564 
↓1.5% 
$1.36M
ANT 
$4.2684 
↓2.1% 
$1.28M
ETC 
$10.633 
↓4.6% 
$1.21M
WAVES 
$9.1388 
↓4.2% 
$1.1M
PAXG 
$1743.6 
↑0.8% 
$994K
REPV2 
$28.646 
↓3.7% 
$752K
KNC 
$1.6191 
↓4.0% 
$599K
MLN 
$38.687 
↑6.4% 
$408K
GNO 
$125.99 
↓2.9% 
$384K
REP 
$30.292 
↓2.0% 
$374K
KEEP 
$0.3289 
↓2.6% 
$369K
BAL 
$36.054 
↓5.7% 
$311K
STORJ 
$0.6081 
↓9.3% 
$268K
TBTC 
$49624. 
↓4.5% 
$25.9K


#####################. Trading Volume by Asset. ##########################################

Trading Volume by Asset


The figures below break down the trading volume of the largest, mid-size, and smallest assets. Cryptos are in purple, fiats are in blue. For each asset, the chart contains the daily trading volume in USD, and the percentage of the total trading volume. The percentages for fiats and cryptos are treated separately, so that they both add up to 100%.

Figure 1: Largest trading assets: trading volume (measured in USD) and its percentage of the total trading volume (March 02 2021)

Figure 2: Mid-size trading assets: (measured in USD) (March 02 2021)

Figure 3: Smallest trading assets: (measured in USD) (March 02 2021)


#####################. Spread %. ##########################################

Spread %


Spread percentage is the width of the bid/ask spread divided by the bid/ask midpoint. The values are generated by taking the median spread percentage over each minute, then the average of the medians over the day.

Figure 4: Average spread % by pair (March 02 2021)



.


#########. Returns and Volume ############################################

Returns and Volume


Figure 5: Returns of the four highest volume pairs (March 02 2021)


Figure 6: Volume of the major currencies and an average line that fits the data to a sinusoidal curve to show the daily volume highs and lows (March 02 2021)



###########. Daily Returns. #################################################

Daily Returns %


Figure 7: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (March 02 2021)



###########. Disclaimer #################################################

The values generated in this report are from public market data distributed from Kraken WebSockets api. The total volumes and returns are calculated over the reporting day using UTC time.

Source: https://blog.kraken.com/post/8108/kraken-daily-market-report-for-march-02-2021/

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