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Technical Analysis-AAVE, Sushiswap (SUSHI), and Compound (COMP)

In the technical analysis, AAVE, Compound, and Sushiswap technical analysis are encouragingly bullish. SUSHI/USDT could reach $23, while COMP/USDT bulls are open for $830.

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Today’s technical analysis of the three most popular altcoins namely AAVE, Sushiswap (SUSHI), and Compound (COMP) will explain what to expect in the coming days. On the other hand, AAVE buyers are setting their eyes on $450 in the immediate term.

AAVE Protocol (AAVE)

Trustless lending makes part of DeFi, and it is here where the AAVE protocol is prominent. Its ecosystem is moved by the AAVE governance token. After a lull in March, the AAVE technical analysis looks solid with buyers in control.

Past Performance

The AAVE price is within a larger $150 range. However, AAVE/USDT prices are in a $50 range with caps at $390 and $440 on the upper end. At the same time, average trading volumes are up 50 percent to $1 billion on the last day.

Days-Ahead and what to Expect

The AAVE price is changing hands at $436 as of writing on Apr 15. It is up nine percent on the last day versus the USD and BTC.

READ  DeFi Investors Interest Grows In Synthetix, Total Value Locked Reaches $1 Billion

Candlestick arrangements in the daily chart point to bulls. Even in a consolidation, AAVE/USDT prices are printing higher highs along the upper BB.

Also, trading volumes are rising as buyers load dips. Overly, trading volumes have been steadily rising since late March. It suggests trader confidence.

AAVE/USDT Technical Analysis

AAVE Daily Price Chart for Apr 15

AAVE technical analysis shows that buyers have reversed losses of the double-bar bear reversal pattern of Apr 2 and 3.

AAVE/USDT price action is within a bull flag within the 50 and 23.6 percent Fibonacci retracement of the Q1 2021 trade range.

Accordingly, aggressive traders can buy the dips, targeting $450.

A close above $450 may trigger risk-averse traders into action. In turn, they can aim for $580—Feb 2021 highs.

Compound (COMP)

There is a DeFi revival, and Compound (COMP) is a beneficiary.

The Compound technical analysis reveals a resurgence of demand for COMP.

Past Performance

COMP prices are firm, in an uptrend inside a $240 range with visible resistance at $570.

READ  Uniswap Reaches Above $2 Billion In Total Value Locked (TVL)

On the last day, COMP/USDT prices are ranging inside a $70 zone with caps at $450 and $520 on the upside.

As COMP prices climb up, so do trading volumes which also rose 37 percent to $197 million on the last day.

Days-Ahead and what to Expect

The COMP/USDT price is trading at $522 on the last day, adding roughly 11 percent against USD and BTC.

Demand is picking up. COMP prices are rising as middle BB’s gradient turns positive.

Bollinger bands are also widening, pointing to volatility in lower time frames.

The middle BB—the 20-day moving average is reliable support.

COMP/USDT Technical Analysis

Compound Daily Price Chart for Apr 15

COMP buyers are in control, as Compound technical analysis shows.

Every low is potentially a loading opportunity as COMP/USDT prices sprint. The immediate target is $570. A breakout above that could lift bulls to $830—the 1.618 Fibonacci extension level.

On the flip side, losses below the middle BB and $410 could see COMP prices fall to $340 or even $220—the 78.6 Fibonacci retracement of the Q1 2021 trade range.

Sushiswap (SUSHI)

Sushiswap forked from Uniswap but has since grown in stature with SUSHI, its governance token.

READ  Litecoin’s rising wedge continues to break downwards, $34 soon

Past Performance

SUSHI technical analysis points to bulls. In the immediate term, SUSHI is trading within a bullish breakout pattern. Prices are ranging in a $2 zone on the last day with decent participation since buy volumes are up 29 percent to $706 million.

Days-Ahead and What to Expect

SUSHI/USDT prices are up to six percent against the USD, trading at $17 as of writing on Apr 15.

There has been a confirmation of the three-bar bullish reversal pattern of Apr 7 to 12 following Apr 14 surge above $17.

Volatility is increasing as BBs are now widening, pointing to momentum development in lower time frames.

SUSHI/USDT Price Forecast

SUSHI Daily Price Chart for Apr 15

After consolidating, SUSHI/USDT prices are printing higher.

In a three-bar bullish pattern and subsequent confirmation leading to a close above $17, buyers can load the dips targeting $23.

Unexpected losses below the middle BB and Apr 14 at $15 may shake off bears. However, SUSHI traders will flow back if prices drop below Mar lows at $13.

#AAVE #AAVE/USDT #COMP/USDT #Compound #DeFi #SUSHI/USDT #SushiSwap

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/technical-analysis-aave-sushiswap-sushi-and-compound-comp

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Ripple Price Prediction: XRP/USD Consolidates Around $1.35

Ripple Price Prediction – May 12 The Ripple price is down by 7.54% in the last 24 hours as the value has gone below $1.55. […]

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Ripple Price Prediction – May 12

The Ripple price is down by 7.54% in the last 24 hours as the value has gone below $1.55.

XRP/USD Market

Key Levels:

Resistance levels: $2.0, $2.2, $2.4

Support levels: $1.0, $0.8, $0.6

XRPUSD – Daily Chart

During the European session today, XRP/USD has gone up from $1.48 to $1.55 before giving a bearish signal and drops the price down below the $1.35, the Ripple price is also floating within the 9-day and 21-day moving averages as the technical indicator RSI (14) moves below 50-level. Meanwhile, a break below the 9-day and 21-day moving averages could allow the market to dig dip, but moving back above the 9-day MA might lead the market to a bullish scenario.

Ripple Price Prediction: Where is Ripple Price Going Next?

At the moment, the Ripple price has continued to demonstrate a sign of weakness across its markets. According to the daily chart, XRP/USD is currently reflecting a price drop in the market and the fall might become heavy if the bearish action continues.

Therefore, since XRP/USD is moving sideways on the short-term outlook, traders can expect the trend to keep advancing higher if the price actions still remain inside the channel. A break above the 9-day and 21-day moving averages could strengthen bulls and push the price to the resistance levels of $2.0, $2.2, and $2.4, or a channel breakdown might lead the market in a bearish scenario if the price continues to fades and the closest supports to keep eye on are $1.0, $0.8, and critically $0.6.

When compares with Bitcoin, XRP trades within the 9-day and 21-day moving averages, actually, the price action has remained intact within the channel. If the selling pressure continues, the Ripple price variation may create a new low. At the moment, the signal line of the Relative Strength Index (14) is moving below 55-level; the market may experience an additional negative move if the RSI (14) slides below 50-level.

XRPBTC – Daily Chart

Furthermore, XRP/BTC hovers at 2564 SAT which is around the 21-day MA. Any further drop below this barrier may hit the close support at 2300 SAT before breaking to 2100 SAT and below. Meanwhile, should in case a bullish movement occurs and validates a break above the 9-day MA; traders can confirm a bull-run for the market, and the nearest resistance levels are located at 3200 SAT and above.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://insidebitcoins.com/news/ripple-price-prediction-xrp-usd-consolidates-in-a-flag-formation-below-1-35

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European Union Country Plans 50% Crypto Tax Cut to Attract Billions

The lawmakers in Hungary are planning to cut down crypto tax by 50% on the capital gains with an aim to attract billions to its budget.

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The lawmakers in Hungary are planning to cut down taxes by 50% on the capital gains on crypto with an aim to attract billions to its budget most probably by 2022. As announced by Mihály Varga, the Economy Minister of Hungary, the tax on crypto earnings is going to be slashed to 15% in 2022, which is almost half of the present rate, 30.5%.

Crypto Investors in Hungary to be Offered Major Tax Break Soon

The lawmakers of the country are looking forward to making Hungary become more competitive in the period of the COVID-19 pandemic. The recent move of a crypto tax cut by lawmakers of Hungary is expected to attract billions of Hungarian forints to the budget of the country.

Gabor Gurbacs of VanEck has recently released a comment stating that Hungary is buckling up to be the Wyoming of Europe, comparing it to the most crypto-friendly state of the United States.

Mihály Varga mentioned the stimulus program of the government through the year 2022, in a video that appeared on Facebook on Tuesday.

This move was addressed as a part of the COVID-19 relief efforts as the lawmakers of Hungary are considering a crypto tax cut to 15% of the capital gains, which is down from the current rate of 30.5%.

European Union Country in Preliminary Discussions Surrounding a CBDC

In the month of August 2020, a representative from the Hungarian National Bank joined a preliminary discussion regarding a Central Bank Digital Currency (CBDC). The discussion was with colleagues from the Swiss National Bank, the Bank of England, and others in the discussion of the potential rollout of the Central Bank Digital Currencies in the near future.

In addition to this, it should be noted that Hungary is not the only European country that has introduced tax-based incentives for the owners of cryptocurrencies in their country. Portugal, for instance, does not require its customers to pay any taxes at all provided that they are not engaged in any kind of professional trading.

READ  Craig Wright Refuse Moving 50 BTC, Now In Catch-22 Situation

#CBDC #Crypto Tax Cut #Hungary #Mihály Varga

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/european-union-country-plans-50-crypto-tax-cut-to-attract-billions

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Litecoin, Tezos, Uniswap Price Analysis: 12 May

Bitcoin’s consolidatory movement within its tight price band didn’t stop the crypto-market’s altcoins from registering some degree of volatility on the charts. In fact, while BTC, again, was valued at

The post Litecoin, Tezos, Uniswap Price Analysis: 12 May appeared first on AMBCrypto.

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Bitcoin’s consolidatory movement within its tight price band didn’t stop the crypto-market’s altcoins from registering some degree of volatility on the charts. In fact, while BTC, again, was valued at just over $57,000 at press time, the likes of Litecoin, Tezos, and Uniswap, were noting significant movements in both directions.

Litecoin [LTC]

Source: LTC/USD on TradingView

Litecoin, the cryptocurrency popularly dubbed the silver to Bitcoin’s gold, has had a bullish price trajectory since it recovered from the market-wide depreciation in the latter half of April. In fact, such has been the scale of LTC’s uptrend that the alt climbed by 46% in less than 10 days. In fact, at the time of writing, the alt was valued at $392, just below its ATH of $410 which it hit a few days ago.

The aforementioned uptick was accompanied by a sharp spike in trading volumes too, with the same allowing the crypto to touch greater heights.

The said bullishness was underlined by the alt’s technical indicators as Parabolic SAR’s dotted markers were well under the price candles, while Awesome Oscillator’s histogram pictured surging market momentum.

LTC’s latest performances have heightened expectations for its price in the long-term, with some analysts claiming that the alt might follow ETH’s trend to go as high as $1000 even.

Tezos [XTZ]

Source: XTZ/USD on TradingView

It was uncertain times for Tezos, at the time of writing, with the cryptocurrency recording corrections on the back of yet another market hike that exhausted itself too quickly. The latest depreciation in price was ins sharp contrast to XTZ’s fortunes earlier in the week, with the alt climbing by 37% in just 48 hours.

While market dynamics, despite corrections, remains largely bullish, the crypto’s indicators might soon see some bearishness creeping in.

While the mouth of Bollinger Bands was widening somewhat to make way for some incoming volatility, MACD was still holding above the Signal line. It’s worth noting, however, that a bearish crossover on the latter had become a distinct possibility.

According to a recent analysis, investing in Tezos might have its upsides at this time.

Uniswap [UNI]

Source: UNI/USD on TradingView

Compared to Litecoin and Tezos, Uniswap’s price action shared a closer resemblance to Bitcoin, the world’s largest cryptocurrency. Like BTC, UNI too has been rangebound for the past week or so, with the aforementioned period seeing the alt drop by over 15.5% before recovering once again.

At the time of writing, UNI wasn’t far from its ATH level. However, its price action was missing the bullish momentum the likes of Litecoin were recording.

Even so, the alt’s indicators gave positive signs. Both Relative Strength Index and Chaikin Money Flow noted sharp spikes following UNI’s latest recovery efforts, fueling expectations of a breakout on the price charts soon.

With Uniswap V3 mainnet being launched just a few days ago, it would seem that the same hasn’t been priced in yet.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/litecoin-tezos-uniswap-price-analysis-12-may

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