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Technical Analysis – Loopring (LRC), Bancor (BNT), and JUST

Loopring, JUST, and Bancor technical analysis suggest buyers. LRC/USDT may rise to $0.90, while BNT/USDT could reach $9 if prices break above $8.

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Loopring, JUST, and Bancor technical analysis suggest buyers. LRC/USDT may rise to $0.90, while BNT buyers are open for $9 if a breakout above $8 pans out. Meanwhile, JUST gains are parabolic. Traders expect a surge to $0.30 in Q1 2021 trend continuation.

Loopring (LRC)

Loopring is a layer-2 DEX enabling that allows the trustless swapping of Ethereum-based tokens. LRC is native to the protocol. Holders—judging from various LRC technical analyses, expect prices to extend to their Q1 2021 gains.

Past Performance

The Loopring price is within a $0.06 range, ranging between $0.61 and $0.67 on the last day.

Trading volumes are marginally lower, shrinking seven percent to $119 million during the same period.

Days-Ahead and what to Expect

Overly, Loopring buyers are in control.

The LRC price is trading at $0.67, stable on the last day against the USD, ETH, and BTC. However, it is up double digits versus BTC and USD week-to-date, paring losses with ETH.

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LRC/USDT is trading within a bullish break-out pattern after clearing above Mar 2021 highs of $0.60.

The 20-day moving average is positively slopping, pointing to bulls.

BB are diverging, suggesting a buildup of momentum and volatility.

LRC/USDT Technical Analysis

Loopring Daily Price Chart for Apr 17

Aforementioned, LRC/USDT is trading within a bullish breakout pattern.

Buyers are in control, provided LRC bulls maintain prices above $0.60.

Therefore, every low could be a loading opportunity for aggressive bulls.

The immediate target is $0.90—the Q1 2021 highs.

Sharp losses below the middle BB and Apr lows swing LRC/USDT price action in favor of bears.

Just Network (JUST)

DeFi is global. The Just Network runs on the Tron platform, managing over $15 billion of value as of Apr 17. JUST is its governance token.

Past Performance

The JUST price remains on an uptrend but with relatively low volatility.

JUST/USDT is trading inside a $0.03 range with support and resistance at $0.15 and $0.18, respectively, on the last trading day.

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Meanwhile, volumes are down 25 percent to $389 million.

Days-Ahead and what to Expect

JUST is trading at $0.17 on the last day, adding roughly eight percent against major currencies—USD, ETH, and BTC, on the previous trading day.

Price gains have been parabolic with tapering participation, as the daily chart shows. The middle BB remains a reliable support line, as JUST/USDT technical analysis shows.

JUST/USD prices are within a wider $0.07 range of $0.13 and $0.20, respectively.

JUST/USD Price Analysis

JUST Daily Price Chart for Apr 17

The JUST price is charting higher and at near all-time highs. In a bullish breakout pattern, aggressive traders can buy the dips. It is provided JUST/USD price trade above $0.13 and the middle BB.

A close above $0.20 with high trading volumes—exceeding recent averages, could see JUST prices jump to $0.30—the 1.618 Fibonacci retracement level.

On the flip side, losses below $0.13—the 38.2 percent Fibonacci retracement of the Q1 2021 trade range, will deflate bulls. Subsequently, it will pave a path for bears to force prices towards $0.07—the 61.8 Fibonacci retracement level.

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Bancor (BNT)

Bancor is one of the earliest DeFi projects, and BNT has been tracking its performance ever since.

Past Performance

Bancor’s technical analysis reveals general weakness. BNT/USDT prices remain in range within a $0.50 zone between $7.45 and $7.95 on the last day. At the same time, BNT volumes have been cratering. It is at $136 million on the previous day.

Days-Ahead and what to Expect

The BNT price is trading at $7.88, adding eight percent week-to-date and struggling against BTC and ETH in the same period.

BNT/USDT remains in range mode with caps at $8 and $6.5.

There has been a pickup of participation, but volumes pale in comparison to those of Feb 2021.

BNT/USDT Price Forecast

Bancor Daily Price Chart for Apr 17

Bancor buyers are in control, albeit with the ranging prices.

In consolidation with increasing volumes, BNT bulls appear to be in control, reflecting gains of Q1 2021.

A close above $8 opens the door for $9—Feb 2021 highs.

On the reverse side, a distribution forcing BNT prices below $6.5 could easily see prices dump to $5.

#Bancor #BNT/UST #DeFi #JUST/USDT #Loopring #LRC/USDT #Tron DeFi

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/technical-analysis-loopring-lrc-bancor-bnt-and-just

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Dogecoin Spinoff SHIB Tanks After Ethereum Founder Vitalik Buterin Dumps Tokens

Shiba Inu is in the doghouse. Vitalik Buterin might be as well.

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In brief

  • Some crypto projects gave Vitalik Buterin a lot of tokens, hoping that it would add to their legitimacy.
  • Maybe that wasn’t a great idea.

So, remember when Vitalik Buterin got a bunch of those Shiba Inu tokens? And then some folks warned that he could rug pull the Dogecoin-wannabe?

Well, it kinda just happened.

A wallet attached to the Ethereum creator today removed over 2 trillion in Shiba Inu tokens ($40+ million) from Uniswap, according to data from block explorer Etherscan, helping propel the token into a nosedive; SHIB has lost 20% of its value in the last hour, per Nomics.

Vitalik removing SHIB liquidity from Uniswap. Source: Etherscan

Shiba Inu, a Dogecoin knockoff, is a meme coin that calls itself an “experiment in decentralized spontaneous community building.” Unlike Dogecoin, it runs on the Ethereum network, where it has helped contribute to a surge this week in the price of transactions. 

SHIB’s developers sent more than half of the total tokens to Buterin. They figured that meant the tokens were practically “burned,” or removed from the market as a means of decreasing supply and upping demand. Buterin instead burned SHIB holders by removing the SHIB from a liquidity pool on Unsiwap.

The autodidactic developer wasn’t done, as he continued dumping Shiba Inu in favor of Ethereum. 

Taking the opportunity to clean out his crypto wallet, Buterin then traded 50 billion Akita Inu tokens for ETH, according to information on Etherscan, causing that dog token to crater by 30% in an hour. Forty trillion Dogelon Mars (ELON) tokens got the same treatment, getting swapped for 619 ETH. That’s down a whopping 90% this hour.

Don’t worry, though, shitcoin speculators. Your loss is a charity’s gain.

Vitalik sent 500 of his just-bought ETH (over $2 million) to a wallet associated with the India Covid-Crypto Relief Fund and another 1,000 ETH to a Coinbase wallet for the Methuselah Foundation, a medical charity for extending human life. GiveWell received $53 million in ETH, while Gitcoin, an Ethereum-based foundation for open-source development, received over half a billion dollars’ worth of AKITA tokens.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://decrypt.co/70672/dogecoin-spinoff-shib-tanks-after-ethereum-founder-vitalik-buterin-dumps-tokens

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This Bitcoin bull on XRP supporters: They just don’t look at the truth sometimes

The last couple of months for XRP have been noteworthy, to say the least, from the latest developments of the ongoing XRP vs SEC lawsuit to its surging price rally, The asset was trading at $1.52 at p

The post This Bitcoin bull on XRP supporters: They just don’t look at the truth sometimes appeared first on AMBCrypto.

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The last couple of months for XRP have been noteworthy, to say the least, from the latest developments of the ongoing XRP vs SEC lawsuit to its surging price rally, The asset was trading at $1.52 at press time.

Mike Novogratz, the CEO of Galaxy Digital had a different take on XRP’s sudden rise and the asset’s community.

During a recent interview, Mike Novogratz slammed XRP supporters or the so-called ‘XRP army’. He compared them to conspiracy theorists in an interesting analogy during this ‘Earn your Leisure’ interview. He stated:

“Over the years, the XRP army has built up a real community of people that really want to believe it…You could tell them anything. It’s like 9/11 conspiracy theories. There’s a little bit of that in crypto. They just don’t look at the truth sometimes.”

He made a unique remark about the XRP supporters, drawing parallels with the former US president’s supporters. He stated:

“This community reminds me of the former President, Donald Trump’s supporters, who continue to deny the legitimacy of the 2020 election.”

Statistics from Bitinfocharts paint a different picture. According to this, Tweets per day related to XRP amounted to 19,392 at the time of writing.

Source: BitInfoCharts

Furthermore, XRP supporters had recently taken to Twitter to urge crypto exchanges to “Relist XRP” a hashtag that went viral on the social media app in the recent past. Meanwhile, Google Trends data recorded a surge in the ‘relist XRP’ search term, over the past month. An important reason for the surge can be credited to the publicity gained from the lawsuit filed by the SEC.

Just two days after the lawsuit was filed, the crypto had lost almost 50% of its value in 24 hours. It’s no wonder skeptics question the rise of the digital asset, despite the lawsuit.

So what did fuel this spike? Was it the XRP supporters, the whales, public sentiment? The right answer could be a combination of everything, including rumors about a possible Ripple IPO.


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Source: https://ambcrypto.com/this-bitcoin-bull-on-xrp-supporters-they-just-dont-look-at-the-truth-sometimes

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Bitwise Launches Crypto Company ETF on New York Stock Exchange

The ETF will track 30 companies heavily invested in crypto.

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In brief

  • Crypto asset manager Bitwise today announced the launch of a new ETF.
  • The ETF will track the value of 30 companies that are involved in crypto—such as Coinbase.
  • But the ETF is still not the crypto ETF that many companies are hoping to get approved.

Asset manager Bitwise today announced the launch of a new exchange-traded fund (ETF) that will give investors exposure to companies heavily involved in cryptocurrency

The ETF, Bitwise Crypto Industry Innovators ETF, will be listed on the New York Stock Exchange (NYSE) under the ticker BITQ. The idea is that those who want to put money in the crypto world but are perhaps put off by the complex technological side of things can do so by buying shares.

ETFs are a big deal for investors. They track or follow the price of an underlying asset and allow people to buy shares of it, without having to own any of the asset themselves. ETFs can track anything from gold and foreign currencies to, most recently, Ethereum

In this case, Bitwise’s new ETF will track the Bitwise Crypto Industry Innovators 30 Index, a list of public companies that have significant exposure to crypto. The companies include cryptocurrency exchange Coinbase, business intelligence firm Microstrategy and Bitfarms, a Bitcoin mining firm—all of which own lots of Bitcoin and other digital assets. 

Bitwise CIO Matt Hougan said: “Until recently, most great crypto innovators were private companies, but that’s changing rapidly. Today, there’s a growing set of public companies capitalizing on crypto, and more to come. BITQ aims to identify these businesses and give investors access.”

The company’s CEO, Hunter Horsley, added that the ETF’s goal was to make investing in crypto available via “traditional investing platforms.”

But Bitwise’s NYSE listing still isn’t a crypto ETF in the truest sense—something that cryptocurrency investors in the US have anticipated for years, and which investors in other parts of the world have shown a strong hunger for.

There are currently nine companies hoping to get a Bitcoin ETF approved by the Securities and Exchange Commission (SEC). 

The SEC is currently in the process of reviewing three of them. Previously, however, the governmental body has rejected every attempt at crypto ETF while citing the need to protect investors from a Bitcoin market that can still be easily manipulated.

But in Canada, regulators have not only approved crypto ETFs, they have been extremely popular: there are eight Bitcoin and Ethereum ETFs in the country and all have sold eye-watering amounts of shares. When Purpose, the first Canadian Bitcoin ETF launched, it sold $80 million in just one hour.

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://decrypt.co/70649/bitwise-crypto-company-etf-nyse

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