Connect with us

Coin News

VeChain (VET) Announces Progress on PoA 2.0!

Published

on

After progression from Ethereum blockchain to developing their own VeChain Thor Blockchain, VeChain has become eligible to resolve real-world problems, particularly in the supply chain management domain. Counterfeits and duplicate products are destroying the original product’s market, hitting both the buyers and original manufacturers in a bad way.

Well, VeChain tends to resolve this exact problem, though, since buyers have no method of tracking the quality of the product even from authorized partners. Since anyone with an opportunity can add counterfeits along with original products.

VeChain price is up by 30% in the last three days but faces stiff resistance ahead. Currently, it comes among the top 20 cryptocurrencies in terms of market capitalization, with a rough figure of USD 9 billion. There are 64 billion VET tokens in circulation, while another 25% that comes out as 22 billion tokens have still not been released. For VeChain to beat Bitcoin at its current value of $50,000, Vechain will have to surpass the $16 mark.

What’s brewing in the VeChain Blockchain Network?

As per recent developments, VeChain has announced its progressive work in the Proof of Authority 2.0 protocol, along with more partnerships and dapps support. But the major development was its successful completion of solving 10 million blocks without any downtime.

These developments will be a key factor in upscaling the valuation of VET tokens. Since they are working on combining the power of the internet to incorporate Blockchain technology into the enterprises, the positive impact on the global supply chain domain will be substantial.

VeChain Price Analysis

VET token is up by more than 75% in the last month and has become extremely bullish in the daily time frames. Whether it’s a result of completing 10 million blocks or belief in this blockchain to address supply chain management issues. One needs to imagine the possibilities to sense the true application of this blockchain. Only then can the possible valuation be calculated.

VeChain Price AnalysisThe price action in the last three weeks has been a consolidating one. Hence, none could address the future projection. But now, we can address the VeChain token’s true potential since it has attempted to break the immediate resistance level of $0.1454 with strong buying sentiment and increased volumes on daily charts.

Technical indicators for buying sentiment, RSI, have bounced back towards the bullish zone, adding confidence in the price action. Since it was in the consolidation zone, there is a much smaller chance of sudden profit booking and more probability of retesting new monthly highs. The MACD indicator is creating a bullish crossover.

On the upside, VET will face another resistance at $0.2354 levels, which is 62% away from the current levels. Hence, if VET manages to trade above the immediate resistance levels, we can witness a massive upside movement. There is strong support from 200 DMA at $0.111 levels.

VeChain Price Analysis ChartThe story on hourly charts is a replica of daily charts with better price action clarity. A unique aspect of this time frame is the sudden and large green candles, which indicates buying by whales. Compared with the previous price action, it is strong, but most of it is because of sudden buyings. At the same time, there is non even a single red candle to match the buying.

All of these point towards the holding pattern of the VET token. If it continues this way, we can expect the VET token to fly off to unprecedented levels as per our VeChain price prediction. Support and resistance are the same as the daily charts.

Continue Reading
Click to comment

Leave a Reply

Email của bạn sẽ không được hiển thị công khai. Các trường bắt buộc được đánh dấu *

Coin News

What is Fuelling the Rally in DigiByte Cryptocurrency?

Published

on

By

The DigiByte ecosystem is built with an emphasis on speed and security, which are often identified as limitations on different blockchains. DGB uses a proof of work algorithm to validate and complete a transaction.

With a strong price action witnessed on DGB, we can expect it to reach 10 cents valuations shortly. The current DGB price is facing some resistance from its 100 DMA that has coincided with the wicks on daily chart candles.

DigiByte Price Analysis

DigiByte Price Analysis
One day chart with Support Levels, Resistance, Moving Average, and MACD indicator

DigiByte has an active support range at $0.0500 levels on the immediate downside and resistance at $0.0791 levels. In order to remain in trend there needs to be some profit booking or consolidation, straight-line upside momentum often carries the risk of sudden profit booking induced by some new development.

DGB is for now trading in a bullish zone with immense buying interest. The MACD indicator shows chances of the rally to continue without consolidating but, DGB should halt its rate of progression in between to continue with the upside movement. Its 100 DMA comes out at around $0.06252 levels.

DigiByte price prediction
One hour chart with Support Levels, Bollinger, and MACD indicator

DGB shows an immense increase in volumes over the last few hours indicating increased participation from buyers and sellers of this cryptocurrency. As MACD is nose-diving towards the red zone we expect some retracement from current levels and a second attempt at breaking the recent high created at $0.066 levels based on our DigiByte forecast.

Support on hourly charts comes out to be at $0.0579 with Bollinger Bands hitting newfound volatility. The widening of Bollinger bands indicates scope for higher volatility and continuation of the upside movement. For now, DGB seems to have taken support from the lower end of the mean average line and faces some turbulence at the mean average line indicated by red.

Continue Reading

Coin News

TRON Negates the Fall in Valuation with Strong Buying!

Published

on

By

TRON has climbed huge mountains after its release in 2017 and has posted over 17650% of gains from its launch value in 2017 to September 2021. The value of TRX has undergone a huge change from $0.0022 levels to the current value of $0.9265 levels. TRON currently ranks amongst the top 30 cryptocurrencies with a market capitalization of over $6 billion with a circulating supply of 71 billion coins.

The value of Tron is straight forward a derivative of its exposed circulating supply and its potential. Comparing the numbers, TRON can process 2000 transactions per second compared to just six transactions per second of Bitcoin and 25 of Ethereum. Just comparing the numbers gives the transactional capability of TRX and its upscaling potential.

TRON has mostly focused on content creators and has used TRX coin as a way of rewarding content creators through its rewards. It even allows creators to develop their tokens and decentralize the gaming sector. Positioning itself as a content creator supporting ecosystem has enabled creators to connect directly with potential customers, eliminating centralized platforms. Considering the upscaling potential of Tron, people interested in investing here should hold their positions.

TRON Price Analysis

TRON retraced most of its lost value within a short time interval and is headed back towards $0.11 targets with a furious buying sentiment.

TRON Price Analysis

TRON underwent a surprise fall in its value within a concise time interval. The fall was responded with a huge buying action, almost equaling the selling volume on September 07 in the following day. TRON has once again jumped back to $0.0933. Surpassing the support zone will push the TRX price towards the close resistance of $0.11.

RSI levels have also jumped towards 52 from a steep decline, but the major uncertainty in sustaining the gains. If sellers activate their trades, we will witness a significant fall to the tune of its 100 DMA levels. As of now, TRON can be seen respecting its 200 DMA level of $0.08254. It is attempting a fresh price breakout but is more likely to close in an uncertain candle with wicks on both ends.

TRON price prediction

Hourly charts show consolidation as a large part of the trading action on TRX. It consolidates in a narrow range before giving a breakout and again consolidates within a narrow range. This price action is continuing, and there is a high probability of another breakout towards $0.100 levels. MACD on hourly trades has become positive again, and so has the RSI levels. RSI is now trading at above 50 levels. Combining all these indications and our TRX coin price prediction, one should hold their investments.

Continue Reading

Coin News

MATIC: Can It Become the Bridge of Interoperability

Published

on

By

Polygon MATIC intends to resolve the problems of the Ethereum network to promote better incorporation of blockchain technology. Polygon came into play as Ethereum transaction fees increased to a level that started to affect scalability.

Polygon has also started to develop its network to support the Ethereum Defi Ecosystem. Another positive news coming in the Polygon counter is Mark Cuban’s unrevealed investment in Indian cryptocurrency, MATIC. This investment news at a time when all crypto counters are witnessing consolidation of profit booking has the potential to fuel another bull run MATIC.

In our MATIC price analysis, we have covered the technical chart and possible breakout zones, as this news can also cause a profit-booking by some. The only trouble to MATIC’s bull run could be ETH 2.0 scalability solutions launch. We know MATIC is working on building layer 2 solutions on the Ethereum network, hence it will be an interesting aspect to decide the future of MATIC.

Could MATIC Win the Ethereum Scaling Race?

Listing of the MATIC token on the Coinbase crypto trading platform has been a ground-moving reason for this cryptocurrency. The MATIC token is used as a transaction fee on all the dapps built using a polygon.

Polygon (MATIC) is currently emphasizing sustainable NFTs with the latest integration. Its Proof of stake mechanism offers better energy efficiency as compared to the Proof of work mechanism used by Ethereum. By moving the NFT transactions away from the main blockchain of Ethereum, Polygon is creating a sustainable market of itself.

The growth lead of Polygon even mentioned the prospects behind incorporating NFT as their blockchain network. Polygon joined the Polkastarter council on May 27, 2021, which is an independent authority that works on the selection process of Polkastarter IDOs. This can be a revolutionary event in scaling the value of the MATIC.

What does the Future Hold for the MATIC?

MATIC has a fixed token supply, a low market capitalization, and works on a network that is increasing its reach are some of the factors fueling further boost in this token. As of now, this cryptocurrency has become the 12th largest digital asset.

MATIC has moved up from the lows of $0.68 on 1st May to $2.89 on 19th May. The volatility of every cryptocurrency is the result of major profit booking and coin dumping. But even so, how does the MATIC coin price prediction fare with the expectation of the crypto-enthusiasts.

MATIC coin price prediction

MATIC price is currently trading well above all its important moving averages. There is a significant movement, which has pushed this coin over the $2 range twice. Currently, the price action is respecting its 30-day moving average. This cryptocurrency has been trading well above its important moving averages. Even in the short term support level of 30 days moving average.

If it fails to take support from its 7 days moving average, the prices could plummet to the $1.3 range. Although given its price action, such a level would be a good buying range. In the long run this coin seems positive as it is respecting the important levels.

MATIC News

Polygon Matic has been witnessing some stiff resistance near its all-time high. Earlier on May 19, the MATIC price fell from the same range during the profit booking session across the crypto market. MATIC coin, however, rebounded from just below $1 valuational to reclaim its previous high.

As evident from the chart patterns, the $2.45 levels will be instrumental for this crypto to reach new heights. There seems to be a support building near its last resistance levels, but any sell-off can push this coin back to the $0.80 range.

RSI indicator is also closing the oversold zones, indicating some weakness in the short term. A rebound from these levels can push MATIC to battle the stiff resistance around $2.45 and test its all-time high.

Continue Reading

Trending

Copyright © 2021 Coin News - Latest News & Stock Price, Quote & History