Day: October 22, 2023

Bitcoin hints at sell signal after hitting 3-month high

Bitcoin price hit $30,369 on Saturday, its highest level since July.
While bulls could push higher in coming weeks, the immediate outlook suggests a bearish flip.
Crypto analyst Ali points to the TD Sequential indicator as hinting at a sell signal.

Bitcoin price rose to its highest level since July when it broke above $30k to reach highs of $30,369 on Saturday. BTC is indeed looking for its fourth-biggest weekly gains year-to-date.

However, although the benchmark crypto trading around $29,950 at the time of writing, an analyst says further retreat is possible given the potential for a key bearish signal.On the upside, market observers see a flip and weekly candle close above $31k as what bulls need to take control of the prevailing volatility.

BTC price shows sell signal

According to crypto analyst Ali, the potential for a head-and-shoulders pattern for BTC on the daily chart has received greater attention across the market. And in a chart shared on X on October 22, the analyst points to the possibility of the scenario unfolding given a key bearish signal – the TD Sequential indicator.

Other than the sell signal hinted at after BTC price rose over the past several days, the overextended outlook is added to by the daily RSI that has previously triggered notable pullbacks.

The $BTC daily chart hints at a possible sell signal emerging tomorrow, based on the TD Sequential indicator flashing a green 9 candlestick. Not to mention, the RSI reached 74.21 — a level triggering sharp corrections since March,” Ali wrote on X.

Based on this outlook, the analyst noted:

An impending price correction appears to be on the horizon unless #BTC manages to clock a daily candlestick close above $31,560.”

There’s a lot of talk around a potential head-and-shoulders pattern forming in #Bitcoin daily chart. Let’s dissect it!

The $BTC daily chart hints at a possible sell signal emerging tomorrow, based on the TD Sequential indicator flashing a green 9 candlestick. Not to mention, the… pic.twitter.com/h7CiwRFcHb

— Ali (@ali_charts) October 22, 2023

A flip lower from the current resistance zone, and confirmation of the H&S pattern could mean a retest of immediate support around $28,492. A slight sell-off could also reignite the bearish target of $25k. 

The flipside could be catalysed by positive ETF news, with buyers targeting a run to the $40k area.

The post Bitcoin hints at sell signal after hitting 3-month high appeared first on CoinJournal.

XRP creator Ripple Labs’ potential IPO on the horizon; Tezos & InQubeta gain traction

The Ripple (XRP) community and the entire crypto community are abuzz with the possibility of Ripple going public through an IPO. This could be a game-changer, with XRP positioned to skyrocket. Meanwhile, Tezos (XTZ) and InQubeta (QUBE) have become investor darlings, gaining significant traction and riding bullish waves.

With exciting times on the horizon, this article will delve into Ripple’s impending IPO and its potential impact on XRP’s price. Further, this article will also explore the momentum and growing interest in Tezos and InQubeta.

InQubeta (QUBE): the rising star

While Ripple Labs is toying with the idea of an IPO, InQubeta (QUBE) is gearing up to be the best ICO (initial coin offering) of 2023. To date, a staggering $3.7 million has been raised in its presale, positioning it as a top ICO. The momentum in its fundraising phase can be attributed to its unique value proposition. This stands at the intersection of two of the most transformative innovations: blockchain and AI.

By leveraging blockchain technology, it aims to disrupt the AI sector and reshape its fundraising landscape. With this in mind, it seeks to become the first blockchain-based crowdfunding platform for AI startups through crypto. Further, it will also democratize access to the fast-expanding AI market by utilizing NFT and a fractional investment model. With this, investors will be able to hold a stake in promising AI ventures regardless of their income.

The above largely contributes to the acceptance of InQubeta and its traction. To be an early adopter, investors can participate in its presale, currently in stage 4, at a token price of $0.0133. With a projected 3,000% growth after launch, it is arguably the best new crypto to invest in.

Ripple (XRP) toys with the idea of going public through an IPO

The excitement within the XRP community cannot be contained as speculations grow regarding Ripple going public. Initial public offerings (IPO), although popular in traditional financial markets, have also become relevant in the crypto world. Ripple Labs going public through an IPO means it intends to provide an opportunity for public investment. In other words, Ripple will be transitioning from private ownership to becoming traded on a public stock exchange.

Undoubtedly, this is a strategic move that will benefit the entire Ripple ecosystem, notably XRP. It will also bring a new level of credibility and accessibility to the broader crypto market. As the much-anticipated IPO draws near, there has been increasing speculation on how much XRP’s price may soar during the upcoming bull run. Hence, investors are hoping to capitalize on the company’s growth, making XRP a good crypto to buy now.

Tezos (XTZ): growing traction

Tezos (XTZ) is a blockchain platform based on smart contracts. It is prominent for its focus on self-amendment, which allows it to evolve and improve over time without a hard fork. Hence, it is self-dubbed “secure, upgradable, and built to last.” At the heart of the Tezos ecosystem is XTZ, which plays a governance role amongst others. Its community can vote on proposals for protocol upgrades, giving them a say in its future.

The recent upward trajectory in the price of Tezos is a testament to its critical role in the blockchain space. Furthermore, it also suggests a shift in sentiment. With Tezos set to play a significant role in shaping the future of smart contracts and decentralized applications, it is a top crypto to invest in.

Conclusion

The potential Ripple Labs IPO, coupled with the growing momentum of Tezos and InQubeta, are exciting developments in the crypto community. With these projects making waves, they are altcoins to watch. 

For information on how to acquire the QUBE token, you can visit InQubeta Presale or join The InQubeta Communities.

The post XRP creator Ripple Labs’ potential IPO on the horizon; Tezos & InQubeta gain traction appeared first on CoinJournal.

Chainlink price: LINK jumps 13% to hit 1-year high

Chainlink (LINK) price has surged more than 23% in the past week.
On-chain data shows LINK price soared amid whale accumulation.
Most of the whale accumulation and massive uptake has been on South Korea exchanges Bithumb and Upbit.

Chainlink (LINK) price traded above $9.75 on Sunday, hitting its highest level since May 2022 amid a positive broader crypto market. The price of LINK was up 13% in the past 24 hours and 23% in the past week at the time of writing.

But as LINK price eyes a retest of the $10.00 level, analysts looking at on-chain data say traders are likely to benefit if they watch out for whale activity.

Why has LINK price been soaring?

Chainlink, whose oracle network is seeing staggering adoption, including after its Cross-Chain Interoperability Protocol (CCIP) went live, has been one of the top performers in the crypto market amid the latest bullish sentiment.

According to on-chain analytics and smart money account Lookonchain, the surge in LINK price coincided with whale accumulation and massive uptake on South Korea exchanges Bithumb and Upbit. During the price surge, data indicates the two leading Korean exchanges accumulated 945K LINK, worth about $9 million.

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We noticed that during the $LINK price increase, Korean exchanges #Bithumb and #Upbit accumulated a total of 945K $LINK ($9M).

The rise in $LINK price has a lot to do with #Bithumb and #Upbit.https://t.co/WSDMxJ1kgbhttps://t.co/S4QxKdnry6 pic.twitter.com/6jOAjRa5iJ

— Lookonchain (@lookonchain) October 22, 2023

Currently, exchanges hold roughly 202.6 million LINK, which represents 20.26% of total supply and is valued at about $1.9 billion. While 37.45 million is currently staked by holders, there are “many giant whales of $LINK,” including one with 81 addresses holding over 11 million tokens and another with 38 addresses holding over 8.35 million LINK tokens.

Chainlink price outlook

As well as the 30-day time frame, Chainlink’s native token is up over the past one-year, with its current price a 52-week high. However, while LINK/USD has enjoyed some upside episodes year-to-date, prices were largely constrained below the $8.60 mark. Chainlink also fell to lows of $4.77 in June this year.

Chainlink price on weekly chart. Source. TradingView

On-chain data suggests whales could be looking for some profit deals after aggressive accumulation over the past several weeks. The outlook comes after Chainlink (LINK) whale activity soared to new highs.

Whale activity was also behind LINK’s surge in July. The latest price spike is likely to attract some downside pressure.

This whale bought 1.25M $LINK ($9.5M) on-chain at an average price of $7.58 and has made a profit of $2.1M at the current price. Be wary of whales selling $LINK for profit,” Lookonchain posted on X.

While continued whale accumulation portends possible near-term price explosion, its likely the spike to near $10 could come with some sell-off pressure.

The post Chainlink price: LINK jumps 13% to hit 1-year high appeared first on CoinJournal.


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