Tag: Rally

Here is how one algorithmic indicator anticipated multiple phases of FXS’ protracted rally

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Frax Share (FXS) has been one of the few altcoins to pull off a dominant price performance amid the down market of late 2021 to early 2022. In the month between Dec. 14 and Jan. 14, FXS was up 128% against the U.S. dollar and 159% against Bitcoin (BTC). In addition to this impressive feat, FXS topped the charts of historically bullish trading conditions on multiple occasions throughout this period. What is behind the token’s recurring strong trading outlook? Governing a stablecoin ecosystem FXS is the utility token underpinning the…

Market Wrap: Altcoins Rally as Bitcoin Buyers Return

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Bitcoin rose above $43,000 on Wednesday, suggesting that a recovery from a two month-long downtrend is underway. Alternative cryptocurrencies (altcoins) such as FTM, XLM and the popular dog-themed shiba inu (SHIB) token led the way higher, all up more than 10% over the past 24 hours. The rally in altcoins, which typically outperform bitcoin in a rising market, reflects a greater appetite for risk among traders. Still, there are signs that the rally in highly speculative altcoins is due for a pullback. “In the layer 1 scene, both FTM and…

Cosmos ecosystem tokens rally after Evmos promises Ethereum interoperability

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The wider cryptocurrency market is facing another day of volatility and selling on Jan. 7 as Bitcoin (BTC) bears managed to break bull support at $42,000. The price of Bitcoin was pushed to a daily low of $40,620 before resources were exhausted.  Data from Cointelegraph Markets Pro shows that four of the top seven gainers of the day are part of the growing Cosmos Hub. This ecosystem currently uses the Interblockchain Communication protocol (IBC) to facilitate interoperability and communication between connected networks. Top 7 coins with the highest 24-hour price…

CRV Extends Rally as ‘Curve Wars’ Intensify

CRV, the governance token of decentralized exchange (DEX) Curve.Fi, is extending its five-month winning streak as the battle between DeFi protocols for control leads to a demand-supply imbalance. CoinDesk data shows CRV has gained 23% this month, with prices rising 12% to $6.56 in the past 24 hours. The token rallied 127% in the final quarter of 2021 even as market leader bitcoin rose just 5%. As of Tuesday, about 86% of the token’s $3 billion supply is locked up in various DeFi, or decentralized finance, protocols, according to CoinMarketCap.…

President Bukele predicts Bitcoin $100k rally, further legal adoption and more

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Last year, El Salvador became the first country to adopt Bitcoin as legal tender under Bukele’s presidency as a countermeasure to the growing inflation in the country. Since legalization, the president acquired 1,370 BTC for the country’s reserve and reinvested its unrealized gains into new infrastructure projects including a hospital and a school. President Bukele predicted that two more countries will join El Salvador to adopt Bitcoin as a legal tender in 2022. In the same year, he expects a bull run that will take BTC price to a new…

Goldman Sachs Analysts Shoot For Ethereum At $8,000 With Expected 80% Rally

Ethereum recently hit a new all-time high following a tremendous bull run alongside top crypto bitcoin. The altcoin has enjoyed glowing success as the market turns to the upside in terms of sentiment. This has helped push ETH and countless altcoins towards new highs in the market. Expectations have been on the rise following this success and Goldman Sachs market analysts believe there are merits to the expectations. Ethereum’s rally towards $4,400 has set it on a path for even greater value. Faith in the asset has been on the…

Shiba Inu (SHIB) Breaks 8th Place In Crypto Top 10 With Unprecedented Rally

Shiba Inu is arguably one of the most talked-about cryptocurrencies in the space now. The meme coin had managed to crawl out of growing obscurity to the forefront of the crypto market. While the broader market has suffered alongside top cryptocurrency bitcoin, Shiba Inu has had other plans. Carving out its own growth pattern, the value of the asset had rallied to a new all-time high on Wednesday. Its break above $0.00004 and the subsequent crash had led the market to believe that the rally would be short-lived. SHIB had…

Bitcoin Turns Attractive Above $50K, Why BTC Extend Its Rally

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Bitcoin price gained bullish momentum above the $50,000 resistance against the US Dollar. BTC traded towards $52,000 and it remains supported for more upsides. Bitcoin started a fresh increase above the $50,000 and $50,500 resistance levels. The price is now trading well above $50,000 and the 100 hourly simple moving average. There is a key rising channel forming with support at $50,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct a few points, but the bulls are likely to protect $50,000 and…

Analyst Who Predicted September Bitcoin Crash Predicts Rally to $14k

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Bitcoin has undergone a strong correction from the highs of $13,850 set earlier this week. At yesterday’s lows, the cryptocurrency traded for $12,900. Analysts think that Bitcoin remains embroiled in an uptrend despite the correction in this market. One historically accurate analyst shared an analysis indicating that the cryptocurrency has a high likelihood of consolidating from here in the weeks ahead. This consolidation should be followed with a breakout toward $14,000, then potentially further gains as we near the end of November. Related Reading: Here’s Why Ethereum’s DeFi Market May…

Bitcoin price must hold $11,000 for October rally to continue

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Bitcoin (BTC) price broke upward in the first half of October, resulting in a rally from $10,500 to $11,700. However, the momentum may be shifting once more as strength diminishes across the cryptocurrency market.  A similar setup also happened prior to Bitcoin’s latest upward break with sideways consolidation in BTC causing altcoins to drop south heavily, especially the Defi sector. Rangebound and holding $11,000 But significant support at $11,000 is now a must-hold level to resume the bullish momentum, which may find difficulty clearing current levels as renewed coronavirus lockdowns…