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Ethereum (ETH), Solana (SOL) and Polygon (MATIC) Will Be Explosive in 2022, According to Altcoin Daily – Here’s Why

Crypto analyst Aaron Arnold thinks Ethereum (ETH), Solana (SOL) and three other altcoins will be “explosive” this year. The co-host of Altcoin Daily tells his 1.2 million YouTube subscribers that surging interest in non-fungible tokens (NFTs) and decentralized finance (DeFi) is driving his bullishness on a handful of crypto assets. “[I’m] talking about quality L1s […]

The post Ethereum (ETH), Solana (SOL) and Polygon (MATIC) Will Be Explosive in 2022, According to Altcoin Daily – Here’s Why appeared first on The Daily Hodl.

SEC Chairman Gary Gensler Stresses Crypto Trading Platforms Must Be Regulated to Ensure Investor Protection

Shark Tank Investor Kevin O’Leary Says Solana (SOL), Polygon (MATIC) and Hedera (HBAR) Have ‘Large’ Potential

Shark Tank star and billionaire investor Kevin O’Leary sees several leading altcoins that he believes have the potential to add problem-solving value as the blockchain world expands and evolves. In an interview with Anthony Pompliano on The Best Business Show, O’Leary says cryptocurrencies should be viewed as functional “software” rather than simply alternate forms of […]

The post Shark Tank Investor Kevin O’Leary Says Solana (SOL), Polygon (MATIC) and Hedera (HBAR) Have ‘Large’ Potential appeared first on The Daily Hodl.

SEC Chairman Gary Gensler Stresses Crypto Trading Platforms Must Be Regulated to Ensure Investor Protection

Price analysis 1/19: BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOT, AVAX, DOGE

Sell pressure on BTC and altcoins is beginning to alleviate, but data suggests that it’s too early to call for a reversal.

Bitcoin (BTC) and select altcoins are showing signs of some buying near support levels. According to Arcane Research, the seven-day average real Bitcoin trading volume has dropped to the lowest level since July 2021. During the previous instance, the sharp drop in volume marked a bottom and led to a strong rally from August to October 2021.

However, Bloomberg Intelligence senior commodity strategist McGlone warned in a recent podcast that risk assets may correct as the United States Federal Reserve increases rates and reduces asset purchases.

After the corrective phase is over, McGlone expects Bitcoin to transition from a “risk-on to a risk-off asset” and “come out better off.”

Daily cryptocurrency market performance. Source: Coin360

In the short term, analysts at Decentrader, a crypto market intelligence firm, expect Bitcoin to stay range-bound between “$44,000 and potentially $38,000 before an eventual breakout.”

While analysts are divided on their forecasts for Bitcoin, let’s study the charts of the top-10 cryptocurrencies to find the path of least resistance.

BTC/USDT

The bears are attempting to pull Bitcoin toward the strong support at $39,600 but the long tail on the candlesticks of the past two days shows that bulls have other plans. The buyers are buying on dips but a minor negative is that they have not been able to push the price above the 20-day exponential moving average ($43,804).

BTC/USDT daily chart. Source: TradingView

Both moving averages are sloping down and the relative strength index (RSI) remains in the negative zone, indicating that bears have the upper hand. If the price turns down from the current level or the 20-day EMA, the bears will again attempt to sink the BTC/USDT pair to $39,600. This is a key level to keep an eye on in the short term.

If this level cracks, the bearish momentum could pick up as several stop-losses could be triggered. That may result in a decline to $30,000.

Alternatively, if the price rebounds off the current level or the $39,600 support, the buyers will attempt to push the pair above the moving averages. If the price sustains above the 50-day simple moving average ($47,070), the negative view will invalidate and the pair could rally to the stiff overhead resistance at $52,088.

ETH/USDT

Ether (ETH) has continued its down move and is close to the support at $2,928.83. The bulls may attempt to defend this level and start a relief rally.

ETH/USDT daily chart. Source: TradingView

If that happens, the ETH/USDT pair could rise to the 20-day EMA ($3,381). This is a key resistance to watch out for because a break above it will be the first indication that the bears may be losing steam.

A break and close above the channel will signal a possible change in trend. The pair could then start its upward march toward $4,200.

On the contrary, if the price turns down from the current level or the 20-day EMA, it will increase the possibility of a break below $2,928.83. If that happens, the pair could slide to the strong support at $2,652.

BNB/USDT

Binance Coin (BNB) continues to trade inside the descending channel pattern. The 20-day EMA ($485) has started to turn down and the RSI has dipped below 43, suggesting that bears are at an advantage.

BNB/USDT daily chart. Source: TradingView

The bulls are attempting to defend the minor support at $450. If the price rebounds off this level, the buyers will make one more attempt to clear the overhead hurdle at $500. If they succeed, it will indicate a possible change in trend.

The BNB/USDT pair could then start its northward march toward $572 and later to $617. Alternatively, if the price breaks below $450, the bears will try to pull the BNB/USDT pair to the support line of the channel.

ADA/USDT

Cardano (ADA) rallied to the resistance line of the descending channel on Jan. 18 but the bulls could not push the price above the channel. This suggests that bears are defending the resistance line aggressively.

ADA/USDT daily chart. Source: TradingView

The ADA/USDT pair has dipped to the moving averages, which could act as a strong support. The moving averages are on the verge of a bullish crossover and the RSI is in the positive territory, indicating advantage to buyers.

If the price rebounds off the current level, the bulls will again try to drive the price above the channel and the developing neckline of a possible inverse head and shoulders pattern. If that happens, the pair could start a new uptrend.

This positive view will invalidate if the price breaks and sustains below the moving averages. Such a move could pull the pair down to $1.06.

SOL/USDT

Solana (SOL) has reached near the minor support at $130. The bulls had defended this level on Jan. 10 and may again try to do so during the current decline.

SOL/USDT daily chart. Source: TradingView

If the price rebounds off the support, the bulls will again attempt to push the SOL/USDT pair above the 20-day EMA ($151). If they succeed, the pair could rally to the resistance line of the descending channel.

This is an important level to watch out for because a break and close above it will signal the possible start of a new up-move.

On the contrary, if the $130 support cracks, the pair could drop to the critical support at $116. A break below this level could pull the price to the support line of the channel.

XRP/USDT

Ripple (XRP) had been stuck between the 20-day EMA ($0.78) and the $0.75 support for the past few days, which has resolved to the downside today. This indicates that bears have overpowered the buyers.

XRP/USDT daily chart. Source: TradingView

The downsloping moving averages and the RSI in the negative territory indicate that the path of least resistance is to the downside. If the price sustains below $0.75, the bears will try to build upon their advantage and sink the XRP/USDT pair to $0.69.

Contrary to this assumption, if the price turns up from the current level and rises above the moving averages, it will indicate that bulls are accumulating on dips. That could start a relief rally which could reach the overhead resistance at $1.

LUNA/USDT

Terra’s LUNA token dipped below the 50-day SMA ($76) on Jan. 18 but the bulls bought the dip and pushed the price back above the 20-day EMA ($80). This is a positive sign as it shows traders are buying on dips.

LUNA/USDT daily chart. Source: TradingView

If the bulls maintain the price above the 20-day EMA, the LUNA/USDT pair could rise to the downtrend line. A break and close above this level will suggest that the selling pressure could be reducing. The pair could then rise to the 61.8% Fibonacci retracement level at $87.88 and later to $93.81.

This positive view will invalidate if the price turns down and breaks below $73.95. Such a move will suggest that supply exceeds demand. The pair could then decline to $68.33 and later to $62.46.

Related: 43% of Bitcoin trading volume during US market hours: Arcane Research

DOT/USDT

Polkadot (DOT) continues to drift down toward the strong support at $22.66 where the bulls will try to halt the decline. The strength of the rebound off this level could indicate whether the decline is over or not.

DOT/USDT daily chart. Source: TradingView

If the bounce rises above the moving averages, it will suggest accumulation at lower levels. The DOT/USDT pair could then rise to the overhead resistance at $32.78. A break and close above this level will suggest the start of a new uptrend.

Conversely, if the price turns down from the moving averages, it will indicate that sentiment remains negative and traders are selling on rallies. That will increase the prospects of a break and close below $22.66. If that happens, the pair could drop to $16.81.

AVAX/USDT

Avalanche (AVAX) continues to slide toward the strong support at $75.50. The price action of the past few days has formed a descending triangle pattern that will complete on a break and close below $75.50.

AVAX/USDT daily chart. Source: TradingView

Both moving averages are sloping down and the RSI is in the negative territory, indicating that bears have the upper hand. The sellers will have to sink and sustain the price below $75.50 to indicate the start of a new downtrend.

The bulls are unlikely to surrender the $75.50 level easily. If the price rebounds off this support, the AVAX/USDT pair could reach the moving averages. If buyers push the price above the moving averages, the pair could rise to the downtrend line. The bulls will have to propel the price above this resistance to indicate a change in trend.

DOGE/USDT

Dogecoin (DOGE) dipped below both moving averages on Jan. 18 which brings the $0.19 to $0.13 range into play. The flattish 20-day EMA ($0.16) and the RSI just below the midpoint suggest a balance between supply and demand.

DOGE/USDT daily chart. Source: TradingView

If the price sustains below the moving averages, the DOGE/USDT pair could gradually drop to $0.15 and if this level also cracks, the decline could extend to $0.13. A break and close below $0.13 will indicate the resumption of the downtrend.

Alternatively, if the price turns up and breaks above the moving averages, it will suggest that bulls are buying on dips. The buyers will then attempt to clear the overhead hurdle at $0.19 and push the pair to $0.22.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

SEC Chairman Gary Gensler Stresses Crypto Trading Platforms Must Be Regulated to Ensure Investor Protection

Here’s What’s Next for Bitcoin (BTC), Ethereum (ETH) and Solana (SOL), According to Crypto Analyst Pentoshi

A closely followed crypto strategist is predicting what’s in store for Bitcoin (BTC) and smart contract platforms Ethereum (ETH) and Solana (SOL). Pseudonymous crypto analyst Pentoshi tells his 475,500 Twitter followers that while he’s bearish on BTC, he expects it to bounce before continuing its corrective trend. “BTC. Bias is still this for the lower […]

The post Here’s What’s Next for Bitcoin (BTC), Ethereum (ETH) and Solana (SOL), According to Crypto Analyst Pentoshi appeared first on The Daily Hodl.

SEC Chairman Gary Gensler Stresses Crypto Trading Platforms Must Be Regulated to Ensure Investor Protection

Solana (SOL) Remains a Favorite Among Institutions As Negative Crypto Sentiment Shows Signs of Cooling: CoinShares

Bearish sentiment among institutional investors in the crypto markets appears to be cooling despite millions of dollars in outflows from digital asset investment products. According to digital asset manager CoinShares, crypto investment products suffered outflows of $73,000,000 last week, the fifth week of outflows in a row. “Digital asset investment products saw outflows totaling a weekly […]

The post Solana (SOL) Remains a Favorite Among Institutions As Negative Crypto Sentiment Shows Signs of Cooling: CoinShares appeared first on The Daily Hodl.

SEC Chairman Gary Gensler Stresses Crypto Trading Platforms Must Be Regulated to Ensure Investor Protection

Solana-based DeFi protocol Hubble raises $10M, prepares for mainnet launch

Crypto heavyweights including Three Arrows, DCG, Delphi Digital and Crypto.com Capital joined Hubble Protocol’s funding.

The Solana (SOL) network is ready to see the mainnet launch for another decentralized finance (DeFi) protocol, aimed at Web3 development and backed by bigshots from the crypto industry.

Hubble Protocol, a project aiming to develop a censorship-resistant crypto-backed stablecoin among other DeFi services, has raised $10 million from Three Arrows / DeFiance Capital, Delphi Digital, Digital Currency Group (DCG), Crypto.com Capital, ParaFi, Jump Capital, Decentral Park Capital, CMS, Spartan, DeFi Alliance and Mechanism Capital.

Hubble plans to expand its team and DeFi products with fresh funds, starting with its scheduled mainnet launch on Jan. 28, according to the announcement. The first item on Hubble’s roadmap is the launch of its zero-interest borrowing platform that mints USDH, a censorship-resistant crypto-backed stablecoin that’s “positioned to become a building block for other protocols” on the Solana ecosystem.

From a decentralized stablecoin to an innovative borrowing marketplace to undercollateralized lending, the Hubble team is building “core DeFi primitives for the Solana ecosystem,” according to DCG director of investments Matthew Beck. He added:

“These are critical components of the Web3 financial stack on one of the most prominent networks in the crypto market.”

Seeing stablecoins as a multi-trillion dollar market opportunity, ParaFi Capital vice president Anjan Vinod stressed that crypto users will want access to both centralized and decentralized stablecoins, where Hubble comes into play. “We see Hubble's low transaction costs and USDH network effects as compelling features to drive liquidity to the protocol,” he added.

Related: Solana could become the ‘Visa of crypto’: Bank of America

Following its mainnet launch, Hubble users can stake the platform’s native token, HBB, to earn the majority of the protocol’s fees from minting USDH. According to the announcement, Hubble aims to develop undercollateralized lending services in the future and “explore further DeFi innovations laying the foundations for a global and open financial system.”

SEC Chairman Gary Gensler Stresses Crypto Trading Platforms Must Be Regulated to Ensure Investor Protection

Ethereum (ETH) Has Eight Main Competitors, According to InvestAnswers – Here Are His Picks

A popular crypto analyst is looking at how several Ethereum (ETH) challengers stack up against the leading smart contract platform. In a new Q&A session, the host of financial education YouTube channel InvestAnswers tells his 401,000 subscribers that he does not doubt Ethereum remains the dominant force with which all competitors must contend. “As I […]

The post Ethereum (ETH) Has Eight Main Competitors, According to InvestAnswers – Here Are His Picks appeared first on The Daily Hodl.

SEC Chairman Gary Gensler Stresses Crypto Trading Platforms Must Be Regulated to Ensure Investor Protection

Price analysis 1/17: BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOT, AVAX, DOGE

Bitcoin and most major altcoins took a turn for the worse after BTC price dipped below $42,000.

Bitcoin’s (BTC) volatility has been shrinking in the past few days. The standard deviation of daily Bitcoin returns for the last 30 and 60 days as calculated by the Bitcoin Volatility Index is at 2.63%, the least volatile it has been since November 2020.

Generally, tight ranges are followed by strong price expansions. In 2020, the low volatility period in November was followed by a sharp rally in mid-December, which resulted in a supercycle that carried the price all the way to $64,854 on April 14, 2021.

Daily cryptocurrency market performance. Source: Coin360

However, there is no certainty that the volatility expansion will happen only to the upside. The price could break out in either direction. Commentator Vince Prince warned that the high leverage ratio of Bitcoin could trigger a big chunk of stop-losses if the $40,000 support breaks down.

Could Bitcoin start a new up-move or will bears pull the price below the support levels, triggering a sell-off in altcoins? Let’s study the charts of the top 10 cryptocurrencies to find out.

BTC/USDT

Bitcoin has been trading near the 20-day exponential moving average (EMA) ($44,181) for the past few days. Although bulls have not been able to push the price above this resistance, a minor positive is that they have not given up much ground.

BTC/USDT daily chart. Source: TradingView

If the price turns up from the current level or $41,725.95, the bulls will make one more attempt to clear the overhead resistance at the 20-day EMA and the horizontal resistance at $45,456.

If they do that, the pair could rise to the 50-day simple moving average (SMA) ($47,680) where the bulls may again encounter stiff resistance from the bears. A break and close above this resistance could push the pair to $52,088.

Conversely, if the price breaks below $41,725.95, the BTC/USDT pair could drop to the strong support at $39,600. This is an important level for the bulls to defend because if it breaks down, the selling could intensify and the pair may plummet toward $30,000.

ETH/USDT

Ether’s (ETH) recovery off the support line of the descending channel fizzled out near the 20-day EMA ($3,439), which suggests that the sentiment remains negative and traders are selling on rallies.

ETH/USDT daily chart. Source: TradingView

The bears will now try to pull the price below $3,188. If they manage to do that, the ETH/USDT pair could drop to $2,928.83. This is an important support to watch out for because if it collapses, the decline could extend to $2,652.

Contrary to this assumption, if the price turns up from the current level and breaks above the 20-day EMA, the bulls will try to push the pair above the resistance line of the channel. If that happens, the pair could rise to $4,200.

BNB/USDT

Binance Coin (BNB) failed to break above the resistance line of the descending channel pattern on Jan. 16. This may have sparked selling by short-term traders, pulling the price below the 20-day EMA ($488).

BNB/USDT daily chart. Source: TradingView

If bears pull the price below $466.50, the BNB/USDT pair could decline toward the support line of the channel. The flat moving averages and the RSI just below the midpoint, indicate equilibrium between the bulls and bears.

If the price rebounds off $466.50, the bulls will again try to thrust the price above the channel and the 50-day SMA ($530). If they succeed, it will signal a possible change in trend. The pair could then rally to $572.

ADA/USDT

Cardano (ADA) broke and closed above the 50-day SMA ($1.34) on Jan. 16, indicating that bulls are attempting a comeback. The price could now reach the resistance line of the descending channel.

ADA/USDT daily chart. Source: TradingView

The moving averages are on the verge of a bullish crossover and the RSI has jumped into the positive zone, indicating that bulls have the upper hand in the short term. If buyers propel and sustain the price above the channel, it will signal a change in trend.

The ADA/USDT pair could first rally to $1.87 and if this level is crossed, the next move could be to $2.47. On the other hand, if the price turns down from the resistance line, the pair could again drop to the moving averages.

SOL/USDT

Solana (SOL) continues to trade inside the descending channel pattern. The bulls attempted to push the price above the 20-day EMA ($154) on Jan. 13 but failed. This suggests that bears are selling on every minor rally.

SOL/USDT daily chart. Source: TradingView

The bears will now attempt to pull the price below the support at $130. If they succeed, the SOL/USDT pair could drop to the strong support at $116. This is an important level for the bulls to defend because a break below it could sink the pair to the support line of the channel.

Contrary to this assumption, if the price turns up from the current level and breaks above the 20-day EMA, the pair could rise to the resistance line of the channel. A break and close above the channel will signal a possible change in trend.

XRP/USDT

Ripple (XRP) has been trading between the 20-day EMA ($0.79) and the support at $0.75. This squeeze is soon likely to end in a range expansion.

XRP/USDT daily chart. Source: TradingView

If the price breaks below $0.75, the XRP/USDT pair could resume its downtrend and drop to $0.69 followed by a decline to $0.60. The downsloping moving averages and the RSI in the negative territory indicate advantage to bears.

Contrary to this assumption, if the price turns up from $0.75 and breaks above the moving averages, it will suggest accumulation at lower levels. The pair could then start its northward march toward the stiff overhead resistance at $1.

LUNA/USDT

Terra’s LUNA token could not rise and sustain above the 61.8% Fibonacci retracement level at $87.88 on Jan. 15 and 16. This may have triggered profit-booking by short-term bulls.

LUNA/USDT daily chart. Source: TradingView

The price has turned down to the 20-day EMA ($80.17), which could act as a support. If the price turns up from the current level, the bulls will again try to propel and sustain the LUNA/USDT pair above $87.88.

If they succeed, the pair could rally to the 78.6% Fibonacci retracement level at $94.80. Alternatively, if the price slips below both moving averages, it will suggest that traders are rushing to the exit. The pair could then drop to $68.33.

Related: Propy rallies 227% as real estate NFTs become reality and PRO lists at Coinbase

DOT/USDT

Polkadot (DOT) rose above the 20-day EMA ($26.90) on Jan. 12 but the bulls could not push the price above the 50-day SMA ($28.15). This may have attracted profit-booking from the short-term traders.

DOT/USDT daily chart. Source: TradingView

The bears pulled the price back below the 20-day EMA on Jan. 17. If sellers sink the price below $25.45, the DOT/USDT pair could drop to the strong support at $22.66.

The 20-day EMA is flat and the RSI is just below the midpoint, indicating a balance between supply and demand. This suggests that the pair could remain range-bound between $22.66 and $32.78 for a few more days.

If the price turns up from the current level and rises above the 50-day SMA, the pair could rally to $32.78. The bulls will have to clear this hurdle to signal the start of a new up-move.

AVAX/USDT

Avalanche (AVAX) turned down from the 20-day EMA ($95) on Jan. 16, indicating that bears continue to defend this level aggressively. If the price sustains below the uptrend line of the symmetrical triangle, the next stop could be $75.50.

AVAX/USDT daily chart. Source: TradingView

The downsloping moving averages and the RSI in the negative zone indicate that bears have the upper hand. A close and below $75.50 could complete a descending triangle pattern, which could signal the start of a new downtrend.

The AVAX/USDT pair could drop to $57.02 and then to $50. This negative view will be invalidated if the price turns up from the current level and breaks above the downtrend line. The pair could then rally to $128.

DOGE/USDT

Dogecoin’s (DOGE) failure to rise and sustain above the $0.19 overhead resistance on Jan. 15 may have attracted profit-booking from short-term traders. This has pulled the price to the 20-day EMA ($0.16).

DOGE/USDT daily chart. Source: TradingView

The flattening 20-day EMA and the RSI just below the midpoint signal a consolidation in the near term. If bears sink and sustain the price below the moving averages, the DOGE/USDT pair could drop to $0.13.

Conversely, if the price rebounds off the current level, the bulls will make one more attempt to push and sustain the pair above $0.19. If they manage to do that, it will indicate the start of a new up-move.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

SEC Chairman Gary Gensler Stresses Crypto Trading Platforms Must Be Regulated to Ensure Investor Protection

Cardano (ADA), Binance Coin (BNB) and Two More Altcoins Signal Crypto Not in Bear Market: Analyst Nicholas Merten

Crypto analyst Nicholas Merten says that the performance of Cardano (ADA), Binance Coin (BNB) and two other altcoins are proof that the digital asset markets are not yet in bear territory. In a new strategy session, Merten says that one of the main hallmarks of a crypto bear winter is when altcoins start bleeding against […]

The post Cardano (ADA), Binance Coin (BNB) and Two More Altcoins Signal Crypto Not in Bear Market: Analyst Nicholas Merten appeared first on The Daily Hodl.

SEC Chairman Gary Gensler Stresses Crypto Trading Platforms Must Be Regulated to Ensure Investor Protection