Cryptocurrency

The Luna Foundation Guard supports upward price movements in Avalanche. Technical indicators suggest a leg-up to $95.

• Avalanche gained about 5.69% on Thursday.
• News about Luna Foundation Guard acquiring AVAX worth $100 million to create UST reserves supported the surges.
• Technical indicators display green, with Avalanche holding beyond the 200-day Exponential Moving Average.

Avalanche sustained bullish movements on Thursday, AVAX leading gainers in the top ten. Partially reversing Wednesday’s 8.85%, the alt surged 5.69% to end yesterday at $87.66.

Luna Foundation Guard Boosts AVAX

News about Luna Foundation Guard acquiring about $100M n Avalanche to build UST reserves. Thursday’s report triggered AVAX upticks. Avalanche revealed the purchase news on Twitter. Besides the $100 million AVAX purchase, LFG bought BTC worth $231 million.

Avalanche Price Action

While publishing this blog, Avalanche traded at $88.86, following a 4.69% 24-hour surge.

Avalanche should keep the $85.90 day’s pivot away to support a leg-up to the first crucial resistance zone at $90.41. Support from the overall market is essential for AVAX to overcome Thursday’s peaks of $88.65.

Extended upward moves would see the crypto testing the 2nd massive hurdle at $93.18, then $95. The 3rd massive resistance stands at $100.39. However, declines from the pivot level will see AVAX hitting the first critical support at $83.14. Excluding continued drops, Avalanche should keel sub-$80 away.

The 4-hour candlestick chart and Exponential Moving Average suggest bullishness for Avalanche price. The alt stayed beyond the 200-day Exponential Moving Average, currently near $86.99. Early sessions on Friday had the 50-dayEMA converging on the 100-dayEMA to hit support. Meanwhile, the 100-day Exponential Moving Average drifted from the 200-dayEMA, ensuring support. Action through the 100-day Exponential Moving Average at $90.15 will see AVAX exploring $95.

As stated earlier, Avalanche will depend on the broad market bias for its upcoming session. For now, the crypto spectrum flashes green. While writing this article, the global cryptocurrency market capitalization hovered around $2.02 trillion, following a 1.20% surge over the past day. Maintaining the upside bias would support Avalanche’s upswings in the up-and-coming sessions.

We have more updates on your way. Stay tuned.

Ripple’s (XRP) price encountered massive selling strength after the remittance token lost its temporary support near the $0.75 mark. As fear dominates the overall crypto space, XRP will likely face downtrends in the up-and-coming sessions. The market Fear & Greed Index stood at 18/100, suggesting extreme fear that keeps market players worried.

XRP Might Retest Levels at $0.6838

Ripple price exchanges hands around $0.7459. The downbeat mood had the cross-border transaction token staying 31% lower than its 23 December high of $1.0750. The token’s downside price movements have printed descending channels on the daily chart, following many lower lows and lower highs.

The parallel channel highlights bearishness for the alt, and maintaining inside the pattern can mean further drops for XRP. That way, Ripple has to keep the nearest support zone by the channel’s middle border at $0.7459 to prevent crashing towards the prevailing channel’s bottom boundary at $0.6838. Such a move will translate to an 8.87% fall beneath XRP’s current price.

XRP/USD 24Hr Chart

Keep in mind that the current negative sentiment in the overall market validates XRP’s bearish narrative. The crypto space has bled since the sudden crash on 5 January 2021. While publishing this content, the global crypto market capitalization slipped beneath the $2 trillion level (Coinmarketcap data).

Furthermore, the Relative Strength Index’s position at 32.98 and downward-sloping MAs validate the bearish case in XRP. Remember, the bearish strength will receive a boost the moment RSI dips into the oversold territory.

The downside move by the Moving Average Convergence Divergence and its position under the zero line within the negative area supports the pessimistic narrative in Ripple. As vital price indicators point to the downside, XRP’s road will fewer obstacles is the plunging one.

Nevertheless, XRP bulls can invalidate the bearish forecast for XRP price by keeping the closest support barrier at $0.74596. Remember, the descending channel’s middle border embraces this floor. If such a case plays out, XRP might rise past the psychological area at $0.80, tagging the channel’s upper boundary around $0.8096. Nevertheless, Ripple’s price movements might rely on upcoming actions in the overall crypto spectrum.

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The overall cryptocurrency market cap surged by more than 1% to touch $2.85 trillion. Meanwhile, the global crypto volume lost nearly 29% to stand at $125 billion.

Top digital assets moved in the green today following the brief profit-taking in the past session. Investors turn to riskier assets during the weekend. Keep in mind that the crypto market usually records better performance during the weekend.

Seven of the top ten assets traded higher during early sessions on Friday. Only Solana, Cardano, and Polkadot traded lower during the same time. The overall cryptocurrency market cap gained over 1%, reaching $2.85 trillion. On the other side, the market volume tanked nearly 29% to hover at $125.7 billion.

CoinDCX Research team commented on the market price actions, saying this week’s lows and highs prompted BTC’s volatility questions and bubble bursting threats re-emerged. That threatened the increasing digital coin’s industry credibility. However, it added that international powerhouses such as the US embrace crypto, the digital asset economy might strengthen the asset’s credibility.

Top exchanges have registered a 200% to 500% increase in day traders. They are individuals making money by taking positions in different cryptocurrency assets. For instance, around 105 million Indians hold digital coins, and the crypto exchanges report over 1 million day traders.

On Tuesday, the US leading crypto exchange Coinbase reported an almost 30% decline in Q3 trading volumes. That was due to declining crypto prices and lower volatility by most crypto assets.

Tech View

Litecoin, also known as BTC lite, is a crypto coin designed to provide immediate P2P value exchange at economical rates. LTC is among the oldest assets in the crypto space that boasts a large active online community. The crypto follows the tokenomics model by allowing limited LTC mint. The circulating supply at the moment is nearly 82% of the overall token supply. With the increased inflation and the sentiment in the cryptocurrency space, LTC surged towards the $300 mark.

As Ripple plans to support LTC, BTC, and ETH through the financing hub launch, Litecoin enjoys the top space in the market. For now, the alt ranks 14 by market cap. Litecoin began its upside journey in October and surged more than 100% to explore $302. That was after September’s correction.

Litecoin has massive support near $247, and holding beyond the mark will confirm more upsurges. Meanwhile, breaking under the level will lead to plummets towards the next support at $224. LTC has to close beyond $300 for further rallies.

LTC Major Levels

Support – $247 and $225

Resistance – $280 and $300

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Handelsplattform

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Briefly –

• Aave announced its next upgrade recently, V3, introducing different vital features.
• The lending platform will accept a cross-chain functionality, allowing users to move tokens between Aave networks.
• Aave V3 will decrease transaction times fees while upgrading reliability and user experience.

Aave, a DeFi lending protocol, has declared its next upgrade, V3, which will incorporate improvements in the token listing, user experience, and risk management. The blockchain targets to introduce new functionality and Layer-0 decentralized finance protocol.

Aave to Introduce Layer-0 Protocol

Aave announced the V3 update recently, targeting new functionality on the network. The upgrade will allow DeFi protocol to improve user experience, security, decentralization, and capital efficiency.

It will also decentralize new assets listing. With that, Aave governance can allow entities to list digital coins via on-chain votes. V3 will make it more efficient as the current listing procedure is extensive, requiring proposals.

Administrators and governance members will enable supply caps and borrowing caps to reduce related risks. Moreover, the platform will introduce an Isolation mode for further risk management.

The anticipated update will incorporate some other vital functionalities. They include Ethereum-based Layer2 networks support. That would reduce the fees and time to complete transactions because users can escape congestions in the Ethereum network, improving reliability and user experience.

Also, V3 will introduce another cross-chain functionality, allowing users to move crypto between the Aave ecosystem on various networks, including Ethereum, Fantom, Polygon, and Solana. Meanwhile, Aave confirms V3 as a gateway to next-gen Layer-0 decentralized finance protocol.

Aave Price Ready to Surge

According to the daily price chart, Aave has been trading in a continuous pattern. That comes as the alternative coin encounter multiple obstacles in an attempt to rally. Meanwhile, Aave nears a symmetrical triangle apex, and a break past $364 can trigger upward price actions for the crypto.

The 100- and 200-SMA, coinciding with the prevailing cart pattern’s upper border at $346, remain stiff hurdles, preventing Aave’s higher movements. Rising bast this obstacle can translate to a massive upswing.

However, if consolidations proceeds, Aave will secure massive support around 21-day Simple Moving Average at $318, then 50-day SMA, corresponding with the triangle’s bottom border at $306. Increased selling momentum can have Aave dropping to 23.6% FIB retracement at $286.

Che cosa è successo?

Il mercato generale delle criptovalute ha visto un forte slancio verso l’alto durante il mese di ottobre. Molti altcoin legati a Ethereum hanno fatto guadagni particolarmente impressionanti nel corso della scorsa settimana in concomitanza con lo slancio per la blockchain e i suoi token.

Polygon, Curve DAO Token e Harmony sono stati tra i token che hanno visto i migliori guadagni durante nel corso di questo periodo. Alle 6 del mattino di sabato, le rispettive criptovalute erano in aumento di circa il 26%, 45% e 22,5% negli ultimi sette giorni di trading, secondo i dati di S&P Global Market Intelligence. Il token Ether di Ethereum è aumentato di circa l’8% in quel periodo.

Cosa significa questo?

L’utilizzo della blockchain Ethereum ha raggiunto un livello record la scorsa settimana, e l’aumento dell’impegno con la rete e  l’impennata dei prezzi per il token Ether sembrano aver incrementato i guadagni per Polygon, Curve DAO Token e Harmony. Oltre all’aumento del prezzo guidato da Ethereum, l’aumento del token Polygon può essere in parte dovuto all’investimento del team di sviluppo in Colexion – il più grande mercato asiatico per i token non fungibili.

Il token Curve DAO è una criptovaluta che supporta la blockchain Curve, una rete sulla blockchain di Ethereum progettata per il trading di stablecoin e per le puntate. Mentre Ethereum gode di una crescente popolarità e il valore del suo token Ether è salito a un livello record, il token Curve DAO sta beneficiando di questo slancio.

Anche il token di Harmony ha beneficiato dell’aumento di Ethereum. Harmony è una blockchain per distribuire e scalare applicazioni su Ethereum e altre reti.

Cosa verrà dopo

La crescente domanda di Ethereum sta facendo girare molte teste nello spazio delle criptovalute. Se la rete continua a vedere una rapida adozione, c’è una buona probabilità che Polygon, Curve DAO Token, Harmony e altre blockchain e criptovalute legate a Ethereum vedranno le loro valutazioni salire ben oltre i livelli attuali. Tuttavia, gli investitori dovrebbero anche tenere a mente che un peggioramento delle prospettive per Ethereum o un calo significativo del prezzo di Ether potrebbero causare un sell-off ancora più grande in altri token di criptovalute.

Co się stało?

We wtorek akcje Bakkt Holdings notowane były z dużą zmiennością. Początkowo wzrosły o 22,9%, a następnie spadły aż o 28,8%. Sesja zakończyła się spadkiem o 22,3%, ale nadal jest to poziom znacznie powyżej poziomu, na którym zakończyła poprzedni tydzień handlowy.

Dostawca kryptowalutowych instrumentów pochodnych przyciągnął uwagę traderów po ogłoszeniu w poniedziałek rano, że nawiązał współpracę z Mastercard, aby pomóc sprzedawcom, bankom i firmom z branży technologii finansowych w USA oferować rozwiązania i usługi kryptowalutowe.

Co dalej?

Usługi, do których partnerzy Mastercard będą mogli uzyskać dostęp dzięki integracji z Bakkt “obejmują możliwość kupowania, sprzedawania i przechowywania aktywów cyfrowych przez konsumentów za pośrednictwem portfeli depozytowych zasilanych przez platformę Bakkt, a także usprawnione wydawanie markowych kryptowalutowych kart debetowych i kredytowych”. Mastercard powiedział również, że włączy kryptowaluty do swojej oferty programów lojalnościowych.

Bakkt ogłosił w poniedziałek po południu, że nowe partnerstwo z firmą Fiserve, zajmującą się technologiami płatniczymi i finansowymi, zaoferuje rozszerzone możliwości transferu środków do i z portfeli mobilnych, czyniąc kryptowaluty wygodniejszymi w użyciu.

Co to oznacza?

Dzikie wahania cen Bakkt we wtorek sugerują, że inwestorzy mają trudności z podjęciem decyzji, czy te transakcje i związany z nimi szum zostały już w pełni uwzględnione w wycenie akcji technologicznych. Co więcej, duża część zmienności może być po prostu spowodowana działaniami day traderów. Wahania były tak duże, że w pewnym momencie sesji obrót akcjami został chwilowo wstrzymany.

Burzliwa faza prawdopodobnie jeszcze się nie skończyła – akcjonariusze Bakkt powinni być przygotowani na większą zmienność w najbliższych dniach.

• Solana appears to reward its loyal customers as it crosses above $200 in a mission to explore the record peaks of $215.
• Avalanche stays on the path to $80 with the momentum gained after the alt broke past a critical descending trend-line.

Solana (SOL) maintained its upside trend yesterday even when BTC and ETH slowed down and retraced. The ‘smart’ contracts competitor crypto trades past $200 almost one day after reclaiming the critical $180 level.

The crypto space witnessed impressive price movements during the past sessions. Bitcoin managed to rally beyond its record high to trade above $67,000. On the other side, Ethereum neared its highs, located around $4,400. For now, BTC trades around $63,000 as bulls remain optimistic, taking the crypto to $70,000 before we end the week.

Also, ETH corrected to secure its support level at $4,000. Most analysts trust that these retracements will attract sidelined investors to subsequent rallies. Ethereum enthusiasts see the leading altcoin hitting $5,000 in the upcoming days.

Solana

While publishing this article, SOL hovers around $202 as bulls target the record high at $215 (Coinbase data). Meanwhile, the altcoin requires massive support to capitalize on bulls’ strength for higher price exploration rather than battling with bears.

The Moving Average Convergence Divergence and the Relative Strength Index indicate a positive short-term outlook. As the former moves beyond the midline, it encourages bulls to storm the market and magnify their stakes. Also, the RSI moving towards the overbought territory shows buyers’ favoritism. The situation has higher chances to remain unchanged in the short term.

Avalanche

AVAX is on the path to challenge record peaks after the alt rebounded from the crucial support near $50, also the demand area. For now, bulls control the momentum as AVAX surged past the descending trend-line.

AVAX-USD Daily Price Chart

The 50-day Simple Moving Average also seems to follow the uptrend, offering support whenever necessary. Avalanche has its value at $64 as it targets $70 in the coming sessions. If the alternative coin receives broad market support, it might hit $80 in the coming days.

Stay around for the latest cryptocurrency market updates.