Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.- The daily timeframe remained bullish, but a pullback could occur.- On-chain metrics and a positive funding rate also highlighted bullish expectations.Litecoin retested the bullish order block at $81.6 and bounced to trade at $88.6 at the time of writing.More gains are expected, and the zone of resistance at $104 can be reached soon.
On lower timeframes, momentum flipped bearishly and indicated a small pullback can occur.Read Litecoin’s Price Prediction 2023-24 Bitcoin has pushed higher to the $23.3k mark in recent hours of trading.The king also has a bullish bias, and until this changes, traders can expect altcoins to perform well.
Inefficiency has been filled and LTC looks to push higher after retesting the order block The bullish order block on the daily timeframe formed on January 10, as the dip to $85 was followed by a swift move to $90.5.This signaled the bulls were strong in the vicinity of $85.This was proved once more recently.A pullback from the $90 mark met with support at $81.6.
A horizontal level of support at $80.65 was also present below and served to signal the strength of bulls in this region.Since this retest, Litecoin has noted gains of close to 8% at the time of writing.Realistic or not, here’s LTC’s market cap in BTC’s terms Lower timeframe charts such as the 1-hour showed a bearish market structure.This by itself was not sufficient to suggest a pullback to $85.
To the north, the next major resistance lies at $93-$94.The $99-$107 also has a bearish order block.
A retest of this area was likely given the strong bullish momentum and spot demand Litecoin saw in recent weeks.The OBV underlined buying pressure as it formed higher lows since December 19.Meanwhile, the RSI formed a bearish divergence, but this need not play out immediately.The mean coin age showed an accumulation trend but the positive MVRV could see holders take profit soon The Binance funding rate was positive, which showed futures market participants continued to expect gains.The 90-day mean coin age has also been on the rise since mid-December.This signaled an accumulation phase.
The positive MVRV was close to levels it had been in late November when the price dropped from $80 to $65.Could another such drop follow? – Full crypto regulation was not bound to happen soon according to Ripple’s lawyer.- The XRP technical outlook showed that the token’s movement could end in consolidation.It is no longer a new development that the Ripple [XRP] issue with the United States SEC could get a resolution in the first or second quarter of 2023.As time draws near, the blockchain-payment firm has growing support concerning its projected triumph.How much are 1,10,100 XRPs worth today? Regulation in the mud? In a related development, John E.Deaton commented that the action of the SEC meant the U.S.could be left behind in crypto innovation.
Furthermore, the blockchain enthusiast and XRP lawyer mentioned that the regulator’s hopes of full regulation might not happen anytime soon, as he resounded a “CRYPTO REGULATION IS NOT COMING!” statement.He also conceived that the earliest notable enforcement in the sector could be around 2025.While maintaining his opinion, Deaton said he cared less if people thought that he was fighting a lost battle.He tweeted, “People have told me that I’m likely fighting a losing battle.
Maybe I am.But what else do we do? We have to fight all of these Court battles because clarity through legislation is NOT coming.” In response to the growing support Ripple received, John Reed Stark said the firm was exaggerating the regulator’s policies.In his LinkedIn post on the same day, the former SEC official said that crypto lobbyists were making deflective efforts to gain sympathy.Describing it as utter nonsense and referring to the SEC as a principled-based organization, Stark wrote, “Not a day passes without a crypto-promoter or shill disdaining the SEC’s perilous practice of RBE” XRP on the consolidation radar Meanwhile, XRP has merely put up a great performance after the first two-week 2023 rally.
In the last seven days, the token increased its value by 3.03%, CoinMarketCap data revealed.Read Ripple’s [XRP] Price Prediction for 2023-2024 However, the daily chart indicated that XRP was close to reaching an overbought region.At press time, the Relative Strength Index (RSI) was 65.32.Since this RSI trended toward an overbought zone, XRP might reverse from the greens.
Concerning the Directional Movement Index (DMI), neither the positive (green) nor negative (red) was in complete control of the market.
The Average Directional Index (ADX) moved in a similar direction.Hence, XRP could later end in short-term consolidation.- CRV extends gains amid increased whale activity.- ETH whales contribute to the demand for CRV despite being heavily overbought.
Curve Finance’s native token CRV just jumped to the top of the list of most traded crypto tokens among ETH whales.
This outcome may pave the way for the next major price move for CRV given its current position.How many are 1,10,100 CRVs worth today? According to WhaleStats, CRV managed to surpass Shiba Inu to become the most traded token by ETH whales.
Why is this important? Well, ETH whale activity often underscores strong demand, in which case investors can expect more upside.📰 JUST IN: $CRV @curvefinance flipped $SHIB for MOST TRADED token among top 100 #ETH whales Check the top 100 whales here: https://t.co/N5qqsCAH8j (and hodl $BBW to see data for the top 5000!)#CRV #SHIB #whalestats #babywhale #BBW pic.twitter.com/2nQOaI8MiM — WhaleStats (tracking crypto whales) (@WhaleStats) January 22, 2023 There is also a chance that the observed ETH whale activity may also represent incoming sell pressure but is that the case? CRV’s supply distribution reveals that the top addresses have been buying in the last three days.
This suggests that CRV continued to enjoy strong demand during the weekend.In addition, the supply held by top addresses metric confirms that whales have continued to accumulate CRV.
This may suggest that the observed surge in ETH whale transactions pertaining to the CRV token may reflect buying pressure.Are whales shielding CRV from the bears? CRV’s price action has continued to extend its upside despite being deeply overbought.It managed a 7.40% upside in the last 24 hours at press time, reflecting strong demand.This allowed it to extend its rally above the 200-day moving average.
CRV traded at a 120% premium from its lowest price level at the end of December 2022.This makes it one of the top gainers among the major cryptocurrencies.However, CRV’s deeply overbought nature may encourage some selling pressure.Both the MVRV ratio and the mean coin age are currently in the upper monthly range.
This means CRV holders are deep in profit.Is your portfolio green? Check out the CRV Profit Calculator This outcome is contrary to the expectations of a pullback.A potential reason for this is that investors, especially whales, are more focused on long-term gains.If the recent rally is the start of the next bull run, then the upside seen so far might just be the start of more recovery ahead.
This might explain why whales are currently not in a rush to secure short-term profits.Note that all this is speculative based on what we have seen so far.
There are still some risks that may trigger a retracement and perhaps an erosion of the latest gains.Nevertheless, whales continue to demonstrate confidence in the market, and this may continue to favor the upside.- The total number of transactions on the Cardano network reached 59.4 million.- The metrics looked favorable for ADA on a higher timeframe.Input Output Global (IOG) recently published its latest edition of Cardano’s [ADA] weekly development report, mentioning all the notable updates and statistics regarding the network.The report first cited the important statistics of the network, such as the total number of transactions on the Cardano network which reached the 59.4 million mark.Notably, 7.59 million native tokens were created, and a total of 112 projects were launched on Cardano.
Moreover, IOG also mentioned that a total of 5,494 Plutus scripts have been released out of which 597 were Plutus V2 scripts.Every Friday, we publish our weekly #Cardano development update.So for the lowdown on what IOG’s dev team has been working on last week, head on over and take a look👇https://t.co/ZHjJ83Vv86 — Input Output (@InputOutputHK) January 20, 2023 Is your portfolio green? Check the Cardano Profit Calculator What were the developers up to? IOG revealed in the weekly development report that the ledger team finished up work on tracking individual depots, built the new Conway era transaction body, and reduced certain problematically large calculations on the epoch boundary.
The Adrestia team released Cardano Rosetta 2.0.0, and then they began working on getting cardano-js-sdk production-ready.While the Plutus team kept working on increasing script capacity, inliner optimization, and the Plutus debugger MVP, the Mithril team released a new 2302.0 distribution.The new release from the Mithril team activates the optimization of the snapshot digest computation on the signer and aggregator nodes.Realistic or not, here’s XRP market cap in BTC’s terms A promising week indeed! The investors had an encouraging week as ADA registered double-digit growth.
According to CoinMarketCap, ADA’s price increased by more than 10% in the last seven days and nearly 5% in the last 24 hours.At press time, ADA was trading at $0.3814 with a market capitalization of over $13.1 billion.Thanks to the aforementioned updates, ADA also managed to secure the top spot in terms of development activity.Not only the development activity, but ADA’s MVRV Ratio also registered an uptick over the last few days, which might have played a role in ADA’s recent price pump.Another optimistic metric was ADA’s positive sentiment, which went up during the last few days, reflecting the community’s trust in the network.However, the network’s velocity decreased in the last week, which might be a little concerning signal.Top posts Uncategorized4 hours ago NYDFS Releases Guidance On Importance Of Segregation And Separate Accounting For Customer Funds In Crypto Industry On Monday, the New York Department of Financial Services (NYDFS) published guidance on custodial structures to help protect customers’ money…
Beacon chain withdrawals5 hours ago Ethereum Developers Commence Finalizing Shanghai Upgrade ‘Shadow Fork’ For Testing And Bug Identification Ethereum developers have begun finalizing the Shanghai upgrade “shadow fork,” according to software engineer Marius van der Wijden.
The “shadow…Uncategorized7 hours ago Economist Mohamed El-Erian Predicts ‘Sticky’ Inflation Despite Federal Reserve’s Efforts To Bring It Down As investors examine the next move of the Federal Reserve, analysts, economists and market participants are also closely monitoring inflation…Artificial Intelligence7 hours ago Beginner’s Guide To Neural Networks In Artificial Intelligence Beginner’s Guide to Neural Networks in the Field of Artificial Intelligence As we go through the topic of artificial intelligence…
Uncategorized8 hours ago BudBlockz Vs.
Bitcoin, Ethereum, And Tether: Which Crypto Is The Real Winner? The crypto market may be currently experiencing a ‘crypto winter.’ After every past bear market, cryptocurrencies have come back stronger…ChatGPT8 hours ago Top 10 Uses Of ChatGPT For Python Programmers Top 10 ways in which python programmers can utilize ChatGPT’s language modeling capabilities ChatGPT from OpenAI is an AI tool…
Uncategorized9 hours ago Ethereum Could Benefit From Stealth Addresses Implementation, Says Vitalik Buterin Ethereum co-founder Vitalik Buterin published a research post that suggests using stealth addresses to enhance privacy-preserving transfers.Buterin detailed that…
Cryptocurrency9 hours ago Top 10 Women Influencers In Crypto To Follow In 2023 Top 10 women influencers in the crypto industry that you should follow to have a proper crypto educator The number…Analysis10 hours ago Bitcoin, Ethereum Technical Analysis: BTC Remains Near $23,000 To Start The Week Bitcoin continued to hover around the $23,000 level on Jan.23, as bullish sentiment remained high in markets.Over the…Bitcoin10 hours ago BTC’s hashrate leads to rising tensions- Is mining industry at a crossroads? Bitcoin hashrate is at an all-time high, and competition for block rewards is fierce.
Miners’ revenue has declined, and the…https://news.btcminingvolt.io/bitcoin/bitcoin-bullish-signal-whales-go-on-1-4b-buying-spree/ Bitcoin Bullish Signal: Whales Go On $1.4B Buying Spree On-chain data shows Bitcoin whales have accumulated $1.4 billion in the asset during the last two weeks, a sign that…Technology11 hours ago 0xPlasma Labs receives initial approval to deploy Uniswap v3 to BNB Chain 0xPlasma Labs receives initial approval to deploy Uniswap v3 to BNB Chain Christian Nwobodo · 5 seconds ago · 1…Australia11 hours ago Australian Finance Minister says crypto could be regulated as financial product Australian Finance Minister says crypto could be regulated as financial product Oluwapelumi Adejumo · 5 mins ago · 1 min…altcoin11 hours ago Why Ripple’s predicted victory could be SEC’s regulatory undoing? Full crypto regulation was not bound to happen soon according to Ripple’s lawyer.The XRP technical outlook showed that the…Analysis11 hours ago Bitcoin back to 15th-largest market cap following fall to 26th in 2022 Bitcoin back to 15th-largest market cap following fall to 26th in 2022 Zeynep Geylan · 30 mins ago · 1…
Uncategorized11 hours ago Microsoft CEO Satya Nadella Praises Metaverse ‘Sense Of Presence,’ Calls It ‘Game-Changing’ Satya Nadella, CEO of Microsoft, has given his opinion about the metaverse and the impact that the tech might have…Regulation12 hours ago South African regulator mandates crypto ad risk warnings South African regulator mandates crypto ad risk warnings Christian Nwobodo · 1 hour ago · 1 min read South Africa’s…Australia12 hours ago Here’s what Australian executives are thinking about crypto After the assistant treasurer’s recent comments, Australian crypto CEOs have cautioned against defining all digital assets as financial commodities.
National…Trending – Uncategorized7 days ago Ethereum Validator Count Surpasses 500,000 Ahead Of Upcoming Shanghai Hard Fork – HideCryptopanic7 days ago LBank CEO Allen Wei expresses excitement about Metaverse’s potential valuation – Crypto6 days ago Japan wants crypto ‘regulated’ and ‘supervised’ like “traditional institutions” – altcoin7 days ago What’s next for Cronos [CRO] after ETH whales consider it worthy of… – altcoin7 days ago Why does Shiba Inu [SHIB] continue to stagger despite the Shibarium update? – altcoin7 days ago Will Stellar Lumens [XLM] have a decent pullback before pumping toward the $0.1 mark? Decoding… – Investo7 days ago 3AC and Coinflex founders join hands to launch new crypto exchange – Crypto news6 days ago Binance Completes 22nd Token Burn, Removes $620 Million Worth Of BNB From Circulation []https://news.btcminingvolt.io/uncategorized/ethereum-validator-count-surpasses-5 -ahead-of-upcoming-shanghai-hard-fork/ []https://news.btcminingvolt.io/sponsored/lbank-ceo-allen-wei-expresses-excitement-about-metaverses-potential-valuation/ []https://news.btcminingvolt.io/news/japan-wants-crypto-regulated-and-supervised-like-traditional-institutions/ []https://news.btcminingvolt.io/news/whats-next-for-cronos-cro-after-eth-whales-consider-it-worthy-of/ []https://news.btcminingvolt.io/news/why-does-shiba-inu-shib-continue-to-stagger-despite-the-shibarium-update/ []https://news.btcminingvolt.io/news/will-stellar-lumens-xlm-have-a-decent-pullback-before-pumping-toward-the-0-1-mark-decoding/ []https://news.btcminingvolt.io/news/3ac-and-coinflex-founders-join-hands-to-launch-new-crypto-exchange/ []https://news.btcminingvolt.io/news/binance-completes-22nd-token-burn-removes-620-million-worth-of-bnb-from-circulation/.
