Robinhood CEO has hinted at a potential listing of Shiba Inu and other Cryptos on the platform. He stated that he has heard the voices of users but they have to adopt a cautious approach to avoid trouble with regulators. The Shiba Inu community has been vocal in getting the asset listed on popular cryptocurrency […]

Ethereum and Solana especially galloped up on their charts significantly in the last 24 hours. Bitcoin had also reclaimed the $40k price mark at the time of writing therefore major altcoins followed a similar price movement. The massive attack on Wormhole which is an eminent bridge protocol between Solana and Ethereum caused ETH to lose…

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Litecoin Price Prediction – February 5 The Litecoin price escalates, but a break above $130 may pull the coin towards $150 in the coming trading [...]

Ethereum (ETH) price is extending the gains for the second day. ETH is set to score higher gains as the price is ready to move upward in the downward channel. The bears are losing grip over the price and looking for some supportive short-term trend line. Risk aversion led the gains in overall stock market

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The folks from the cryptosphere are now elated as the business portrays signs of revival. As the week comes to an end. After being under the clutches of the bears for fairly a quarter, greener numbers have enticed traders. And the hunt for capable digital assets has grown more fierce, as the market chugs towards …

The ENJ coin price breaks above the long-coming falling wedge pattern resulting in an overnight trend reversal, aiming to break above the $2 mark. Co-founder of Enjin, Witek Radomski authored the code to create one of the very first Non-fungible Tokens (NFTs) in the world. He is the co-author of the ERC-1155 Ethereum token standard. Based on an on-chain platform and a blockchain infrastructure, the Enjin ecosystem allows businesses and game developers regardless of size to make use of tokenized digital assets in the course of their engagement, acquisition, retention, and strategies for monetization. The Enjin ecosystem is powered through Enjin Coin, an e-currency used to support the worth of blockchain-based assets. Let us move ahead to read about ENJ technical analysis. Past Performance of ENJ The ENJ coin price action makes a follow-through candle of the morning star pattern made slightly below the resistance trendline of the falling wedge. The morning star and the follow-through candles result in a price jump of over 15%. Thus, resulting in the breakout of the falling wedge pattern in the daily chart.  ENJ/USD Daily Chart ENJ Technical Analysis The ENJ coin price action breaks above the long-coming falling channel pattern in the daily chart. Therefore, traders can expect the post-breakout rally to break above the $2 psychological mark. The crucial Exponential Moving Averages (50 and 200-day) showcase a death cross in the daily chart as the EMAs maintain a falling trend. However, the price jump may shortly reverse the trend in EMAs.  The RSI indicator indicates that the slope is increasing over that 14 day-SMA as well as the centerline of the daily chart. The increase is after the bullish divergence that is seen within the band. So, a continuation in the bullish direction could be likely. The Stochastic RSI indicator shows the K and D line undermining the previous bearish crossover as the K line gives a bullish crossover with the D line. The lines remain in the overbought zone reflecting a boom in underlying bullishness.  In a nutshell, the technical indicators represent the bulls taking over the ENJ price trend with the falling wedge breakout. Therefore, traders can expect a pst-retest rally. Upcoming Trend The ENJ technical analysis shows the coin price action demonstrating a bullish breakout of the falling wedge pattern in the daily chart. However, the price is yet to retest the breakout, that is why a reversal in the upcoming days is possible.  Buyers at the current price can expect a target above the $2 mark, close to the $2.15 horizontal level. However, the bearish influence by the death cross can result in a retest prior to the bullish rally.

The post ENJ Technical Analysis: Wedge Breakout Unleashes Trapped Bullishness  appeared first on Cryptoknowmics-Crypto News and Media Platform.

After facing severe selling pressure from retail and institutional investors during the last 10 weeks, the price of Bitcoin saw one of its best days on 4 February.

The BTC price successfully continues the uptrend after the retest of the falling wedge breakout. The rally breaks above the $40K and aims to head higher.  The most distinctive benefit of Bitcoin comes because it was the first cryptocurrency to hit the market. It has been able to establish an international community and gave birth to a completely new business sector with millions of passionate users who invest, trade, and utilize Bitcoin and other cryptocurrencies in their daily lives. The first cryptocurrency has provided an idea and a technological foundation that later influenced the creation of a multitude of different projects. Let us move ahead to read about BTC technical analysis. Past Performance of BTC The BTC price action retests the bullish breakout of the falling broadening wedge pattern within a morning star pattern. The bullish reversal with the morning star resulted in a price jump of more than 11%. Moreover, the price breaks above the crucial $40K mark.  BTC/USD Daily Chart BTC Technical Analysis The BTC price shows a slight retracement to retest the bullish breakout of the $40K in the price chart. However, traders can shortly find the price giving a lower price rejection to continue the uptrend.  The crucial Exponential Moving Averages (50, 100, and 200-day) showcase a bearish alignment in the daily chart. The price jump aims to break above the 50-day EMA (red) to reinstate the uptrend.  The RSI indicator shows a sharp increase in the slope as it breaks above the 14-days SMA and the central line in the daily chart. Therefore, the indicator reflects a boom in the underlying bullishness.  The MACD indicator shows the MACD and signal lines rising higher towards the zero line after the bullish crossover. Moreover, the increasing trend of bullish histograms showcases a rising buying pressure.  In a nutshell, the technical indicators and the sudden increase in buying pressure reflect a potential uptrend that may reach the $45K mark shortly.  Upcoming Trend The BTC price action finds a sudden increase in demand after the retest of the falling wedge pattern and breaks above the $40K mark. This improves the overall market sentiment and increases greed among investors.  As per the Bitcoin price action, the crucial support levels are at $40K and $38K. And, on the upside, the rising uptrend can find opposition near the $45 and $48K.

The post BTC Technical Analysis: $40K Breakout Brings Back The Lost Bullishness appeared first on Cryptoknowmics-Crypto News and Media Platform.

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The cryptosphere’s desire for a flight to the stratosphere now seems to be falling in place. As the industry climbs up the parapet set the bears. Consecutively, the digital assets belonging to the crypto town are now emerging out of the gloom with double-digit gains. Altcoins which now make-up to a greater portion of the …

In the last 48 hours, the price of Polkadot (DOT) has made desperate efforts to overcome the high of $20. Since January 22, the cryptocurrency's price has fluctuated between $16 and $20.

The GALA coin price shows a bullish breakout of the consolidation range in the daily chart. Will the sudden burst of buying pressure reach the $0.30 mark? Gala Games isn’t just one game, but rather, it is a range of games that put the fun first and blockchain at the back.  Users can use Gala Nodes, which are part of the Gala network. In exchange, they can earn rewards such as GALA Limited Edition NFTs, and other opportunities. The Gala Node ecosystem consists of three proof node systems: proof-of-work (PoW) and Proof-of-Stake (PoS) along with proof-of-storage. Let us move ahead to read about Gala technical analysis. Past Performance of GALA The GALA coin price action shows a growth of more than 30% in the past 48 hours, resulting in the consolidation range breakout. The rally breaks and reaches the crucial psychological mark of $0.25. Moreover, the recent jump creates a bullish engulfing candlestick in the price chart as it aims to surpass the 100-day EMA.  GALA/USD Daily Chart GALA Technical Analysis The GALA coin price action shows an incredible breakout of the accumulation range between the $0.18 and $0.22 marks. The price jump creates a phenomenal follow-through candle of the morning star pattern made at the bottom of the range.  The coin price breaks above the 20-day Exponential Moving Average and rises higher to breach the 100-day average. Moreover, the 50 and 100-day EMAs maintain a bullish alignment in the daily chart.  The RSI indicator shows the slope rising above the 14-day SMA and the central line in the daily chart. The jump comes after the bullish divergence seen within the range. Therefore, a bullish continuation is possible.  The DMI indicator shows the +DI crossing above the -DI in the daily chart proposing a bullish trend reversal. However, a falling slope in the ADX reflects a weakness in the trend momentum. In conclusion, as per the technical indicators, the bullish breakout of the range will show continuation on the upside. Upcoming Trend The GALA coin price broke the horizontal level of $0.22 with a significant price jump in the past 24 hours. Hence, the rising trend can shortly breach the $0.25 psychological mark and regain the bullish momentum.  Traders can expect the uptrend to reach the $0.30 to $0.35 mark if the trend momentum increases. However, a retest of the range breakout to $0.22 is also possible.

The post GALA Technical Analysis: Bullish Lightning Helps Overnight Trend Reversal appeared first on Cryptoknowmics-Crypto News and Media Platform.

The SAND coin price continues the uptrend after the successful retest of the falling wedge breakout. Will the uptrend reach the $5 mark?  The Sandbox is a distinct platform as it introduces blockchain technology into the gaming world. Gaming is an enormous market that has not been explored with regards to the use of blockchain technology and Pixowl realized this in the year 2011. In creating a world where gamers can build and accumulate blockchain-based assets, the Sandbox hopes to transform the game. It creates an entrance into the gaming industry worldwide. Let us move ahead to read about SAND technical analysis. Past Performance of SAND The SAND coin price action grows after successfully retesting the bullish breakout of the falling wedge pattern, as mentioned in our previous article. The price jumped 18% in the past 48 hours resulting in two huge bullish engulfing candlesticks and a morning star pattern near the trendline. The price rests close to the 50-day EMA and patiently prepares to surpass it.  SAND/USD Daily Chart SAND Technical Analysis The SAND coin price action shows a solid bullish continuation after the morning star pattern which retests the bullish breakout. Hence, the buyers align to ride the bullish trend which aims to reach the $5 mark. The crucial Exponential Moving averages show a bullish alignment as the support near the 200-day average pushes it to the 50-day average. Therefore, the EMAs showcase a bullish trend continuation after a sharp correction. The Stochastic RSI indicator shows a bullish crossover in the overbought zone, undermining the previous bearish cross. Hence, the indicator reflects a sudden rise in the underlying bullishness.  The DMI indicator shows a bullish crossover in the DI lines as the bulls take over the trend control. However, the ADX slope reflects a fall in the trend momentum. In conclusion, the price action and the technical indicators reflect a jump in the underlying bullishness. Hence, bullish traders can find SAND reaching new heights.  Upcoming Trend The SAND coin price retests the falling wedge breakout successfully to continue the uptrend in the daily chart. The price jump increases the bullish attention after the drastic 25% fall in the META shares price.   Buyers can find the trend to reach the $4.75 and $5.50 mark above the 50-day EMA, if the buying pressure sustains. However, on the opposite end, the support levels are at $4 and $3.75.

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