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Top Defi Gainers on September 7th: BAND 21%, LINK 20%, FXC 14%

Price chart

As Bitcoin struggles to maintain the major support at $10,100, the buyers are showing great resistance to the downward trend pressure. In the meantime, the top cryptocurrency is left with only one choice- to revolve around the minor support at $10,150 while trying to decide further key actions. Chainlink, together with a few Defi tokens …

The post Top Defi Gainers on September 7th: BAND 21%, LINK 20%, FXC 14% appeared first on Cryptocurrency information | Cryptocurrency News | Bitcoin News and Crypto Guide.

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As Bitcoin struggles to maintain the major support at $10,100, the buyers are showing great resistance to the downward trend pressure. In the meantime, the top cryptocurrency is left with only one choice- to revolve around the minor support at $10,150 while trying to decide further key actions.

Chainlink, together with a few Defi tokens have taken to their survival instincts, nurturing a common uptrend. Gaining significantly within the last 24 hours, Defi tokens share position among the top gainers of today.

And while this good news is still limited to few, many other defi tokens are trying a resurrection. Meanwhile, the gas fees on the Ethereum Network remain high, and the underlying cryptocurrency, ETH is leading a bull campaign amongst other altcoins.

#1. Band Protocol (BAND 21.12% Gain):

band-protocol-charts

BAND is the most remarkable gainer today. With an extra 21.12% today, the coin adjusts losses to around 35% for the last week.

With 50% market positiveness, BAND gives rise to narrow bullish signals and may trade sideways as a result.

BAND has established the central resistance at the $8.5 level and has set extra support at $8.0. In the situation that a price dip occurs, the next level of secondary support fibs at $7.5. Although an upside action is most inclined from here, additional resistance lies up the chart at $9.0 area.

Technical Indicators

  • Next major resistance at $9.0
  • Next major support level at $8.5
  • Resistance Strength Index returned form the 80.0 overbought condition
  • Bullish ride trends midway of Bollinger indicator.

BAND is now trading at $8.87 and its markets are valued at $185 million. 

#2. ChainLink (LINK 20% Gain):

chainlink charts

Being second on this list, we have Chainlink. This significant cryptocurrency which has already delivered more than a 25% loss within the last week is noting some gains this time.

Abundant traders are bullish on LINK and prices may behave very bullish in the short term.

The coin is up by over 633% in the last year and roughly 30% within the last month. Although it forfeited 0.4% in the last hour, LINK is positive in the daily timeframe.

Technical Indicators

  • Next major resistance at $12.7
  • Next major support level at $12.5
  • Resistance Strength Index entered the 70.0 overbought condition and may drive prices down in a possible correction.

LINK is trading at $12.66 and its market cap is fluctuating around $4.8 billion.

Also Read : Chainlink Price Prediction 2020 – How High Will LINK Reach?

#3. Flexacoin (FXC 14% Gain):

flexacoin-charts

FXC rates third on this record with a 24-hour percentage gain also around 14%. Many traders acknowledge that this is the continuation of a price rally for FXC as over 80% of respondents are bullish on Flexacoin.

The coin is up by around 234% since last year and by 11% within the last two weeks. Nonetheless, the coin scores 109% gain within the last month but gained 0.1% within the last hour.

FXC is now changing hands at $0.00959 amid 24-hour trading volume that averages $1.1 million. 

Technical Indicator

  • FXC penetrates the resistance at $0.01
  • The next level of major support lies at $0.009
  • RSI is approaching the overbought condition and may cause a plunge soon.

Source: https://coinpedia.org/price-analysis/top-defi-gainers-band-link-fxc/

Blockchain

Elon Musk Teases Bitcoin Maximilsts Once Again

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The CEO of Tesla, SpaceX, and The Boring Company, has taken another humoristic stab at BTC maxis by asking how many are needed to change a light bulb. The wave of comments didn’t disappoint from names like Michael Saylor, Dan Held, Raoul Pal, and more.

  • Ever since the start of the year when Musk said he regretted not buying bitcoin years ago and later revealed that his EV company had actually purchased $1.5B in BTC, the billionaire has frequently been engaging with the community.
  • Most of the discussions used to be in a positive manner, but it all changed when Tesla disabled BTC payments citing environmental issues. When Musk started bashing the cryptocurrency for its high energy consumption levels, most Bitcoin maximalists changed their tunes as well.
  • However, it seems that Tesla’s CEO sees most of it from a humoristic point of view and the latest example, which came earlier today, supports this idea.
  • He reiterated a popular question on Twitter – ”How many Bitcoin maxis does it take to screw in a lightbulb?” Later on, his own response was also quite ironic.
  • Some popular BTC maximalists and other cryptocurrency commentators quickly offered their opinion on the matter. Michael Saylor, the CEO of MicroStrategy, was among the first who also caught the irony – “if you give us 10 minutes, maybe we can hash out the answer,” referring to how the Bitcoin network works.
  • Peter McCormack, the podcaster who recently interviewed the President of El Salvador on the country’s BTC adoption, took a stab at Musk, while Raoul Pal spoke about his views on what the BTC maxi tribe represents.
  • Interestingly, Dan Held, the Head of Growth at Kraken, responded with a reference towards Elon Musk’s favorite meme coin – Dogecoin.
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Source: https://cryptopotato.com/elon-musk-teases-bitcoin-maximilsts-once-again/

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Blockchain

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

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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.

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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.


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

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Blockchain

XRP, Chainlink, VeChain Price Analysis: 25 June 

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As the market continued to make slow and steady recovery, some altcoins bounced back up earlier than expected while others highlighted more volatility and steeper ups and downs.

With new updates in the SEC v. Ripple lawsuit rearing their heads every other day, XRP hiked after the 21 June fall. VeChain, on the contrary, made headlines after VeTrust, built on VeChain Thor, got adopted by a local Chinese government for better COVID-19 risk management.                                                                                                

XRPSource: XRP/USD – TradingView

XRP made a swift recovery as it noted 22% gains from its 22 June levels. The asset, after testing the $0.775-support on 21 June, fell below this level and tested the lower support at $0.55. XRP, after testing its lower support, later bounced back and highlighted considerable price gains.  

The Bollinger Bands for the asset noted a slight convergence that saw reduced volatility and a less expanded price range as the asset made recovery from its lower lows. Further, bullish momentum could be observed building on the Awesome Oscillator with the appearance of green bars. 

The Relative Strength Index for XRP was heading towards the neutral zone and had a reading of 38.43 at press time. The RSI’s uptick underlined an increase in buying pressure, one which pulled the asset from the oversold zone on 23 June. However, sellers were still dominant at press time.

XRP was trading at $0.67 at press time and if its northbound price movement continues, it can test the  $0.775-resistance as well.  

Chainlink [LINK]Source: LINK/USD – TradingView

LINK was trading at $18.9 at press time and was down 64.01% from its ATH with a breakeven multiple of 2.78. The alt’s price, after testing the $17.3 support, bounced back and made decent recoveries. The 15th ranked coin had a 24-hour price hike of 3.80% and a 7-day price dip of 16.30%. 

In light of the appearance of green candlesticks on the chart, the prevailing trend was slightly bullish. This corresponded with the Parabolic SAR’s white dots that have appeared below the candlesticks since the beginning of 24 June. Further, the Squeeze Momentum Indicator pointed to an active squeeze release (white dots) and projected a bullish trend in store for the asset. 

Finally, the MACD and Signal lines underwent a bullish crossover on 24 June, pointing towards a market recovery for the alt. This could lead the asset to rally towards the $25.9-resistance if recoveries continue.

VeChain [VET]Source: VET/USD – TradingView

VeChain was trading at $0.08 at press time and was ranked 21st on CoinMarkerCap. The alt saw decent recoveries after the 21 June price fall, and its 7-day price dip was 23.29% while its 24-hour price gain was 5.50%. The asset was down 70.14% from its ATH and had a breakeven multiple of 3.35. 

Bollinger Bands for the asset highlighted increased volatility and pictured a more expanded price range as the asset made recovery from its lower lows. Capital inflows for the asset were neutral, according to Chaikin Money Flow, with outflows still dominant in the market.

Finally, the Average Directional Index (ADX), highlighted a non-directional market. Once ADX is under 25, an uptrend can be expected to become stronger. The alt, after testing its lower support at $0.07, bounced back up and if the price rallies further it could touch the resistance level at $0.098.


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Source: https://ambcrypto.com/xrp-chainlink-vechain-price-analysis-25-june

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