So I think I will buy monero first then convert it to Ethereum then cash it out, I need cash. However, someone told me that Ethereum takes a longtime to confirm at the crypto ATM, depending on how high a network fee chosen on my wallet, the speed varies. This is what I dont understand.…
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The Chainlink price has not reflected positive changes despite a major development in the altcoin’s ecosystem. Over the last 24 hours, LINK has declined by over 4%. Even in the weekly window, the altcoin lost over 6% of its value. LINK had charted considerable gains in the month of November. The bulls, however, could not sustain the price action as the coin moved southward at the beginning of December. Chainlink’s price has dropped below the $7 mark. For the coin to turn bullish, it must break past the aforementioned price zone. Investor interest has yet to echo on the daily chart. Chainlink is a blockchain oracle network that has launched its staking feature. This shall help to enhance the economic security of the platform’s services as a whole. This development is supposed to be a vital part of its “Chainlink Economics 2.0” effort, which is aimed at promoting better security and ensuring sustainable growth within the ecosystem. The technical outlook has displayed a fall in accumulation, and at the current price, LINK is trading at an 87% discount from its all-time high secured in 2021. Related Reading: Hedera (HBAR) Continues To Consolidate Near Its Lowest Level This 2022 Chainlink Price Analysis: One-Day Chart LINK was trading at $6.86 at the time of this writing. Although the altcoin was trading close to the crucial price resistance mark, it had to get past one important price ceiling to claim $7. Immediate resistance stood at $6.90. After breaking through the $7 mark, Chainlink may encounter a major barrier at $7.36, indicating a significant retracement. If LINK falls below the present price level, it could land at the $6.22 mark and then at $5.90. The amount of LINK traded in the last session witnessed a dip, which meant that sellers were still in charge and that price sentiment was bearish. Technical Analysis LINK had managed to secure more buying pressure this month, but with constant volatility and price swings, the bulls have finally worn out. The Relative Strength Index dipped below the half-line, indicating falling buyer interest. Reflecting the same sentiment, the Chainlink price peeped below the 20-Simple Moving Average line, which meant that sellers had started to drive the price momentum in the market. Buyers will be back for a considerable time period if Chainlink prices rise above $7.36. Regarding declining buying strength, other technical indicators also presented similar readings. The buy signal on the daily chart started to fall. The Moving Average Convergence Divergence, which reads the price momentum and trend reversal, noted that the green histograms were shorter in size. This is not good news for buyers, and buyers must refrain from accumulation at this point. Similarly, the Parabolic SAR, which depicts the price direction, formed a dotted line above the candlestick, signifying downward price action in the market. Related Reading: Continued Upswing Of VIX Signals Doom For Bitcoin; But Friday Will Be Crucial Featured image from LeewayHertz, Chart: TradingView.com
The Cardano price has declined steeply over the past trading sessions. The altcoin currently trades within a descending triangle pattern. This means that the coin could be headed for further decline unless it manages to break past a few vital price ceilings. Over the last 24 hours, ADA declined by 1.3%. In a weekly timeframe, the altcoin price has been hovering around the same range. In recent weeks, the Cardano price has reached new highs. This reading is tied to bullish price action; however, the bulls lost vigor. It is safe to say that ADA is, at the moment, in a price correction phase. ADA mustn’t lose two of its essential price floors. This would mean that the bears could be taking over. Since the coin currently depicts a descending wedge, it could be possible that ADA might touch its closest support level. After revisiting the support line, it is likely to bounce back again. The altcoin’s market capitalization has also noted a decline, which corresponds with a fall in the asset price. Related Reading: Bullish Sentiment Spikes As Axie Infinity Price Propels 9%, What’s Next For AXS? Cardano Price Analysis: One-Day Chart ADA was exchanging hands at $0.31 at press time. The immediate resistance for Cardano was at $0.34; the bulls tested this level, but the altcoin met with selling pressure. The two major resistance levels for the coin stand at $0.34 and $0.36, respectively. ADA was trading extremely close to its crucial support line of $0.30. The bulls might lose stamina, pushing the coin to $0.28. Cardano’s price will plummet if it fails to stay above the $0.28 mark. The amount of ADA traded in the last session increased and was red, depicting bearish sentiment and selling strength. Technical Analysis Investor confidence in the altcoin has been steadily declining in recent months, and despite ADA making slight progress, demand has languished in recent weeks. The Relative Strength Index fell below the 40-mark and was nearing oversold territory. In this case, ADA could fall through at $0.28. Due to lower demand, the Cardano price moved below the 20-Simple Moving Average line. This meant that sellers were driving the price momentum in the market. Movement above the 20-SMA line will help buyers regain confidence. Even in a shorter time frame, the overall price momentum pointed toward negative price action. The Directional Movement Index, which depicts a trend’s price movement and strength, was bearish. The -DI (orange) line was above the +DI (blue) line. The Average Directional Index was moving below the 40-mark; this could indicate that the altcoin’s present price momentum could depict a turnaround. The Chaikin Money Flow remained positive as the indicator was above the half-line, displaying that capital inflows still dominated outflows at press time. Related Reading: Bullish News For Polygon! zkEVM Mainnet Is Coming Soon, Says Co-Founder Featured image from Unsplash, Chart: TradingView.com
United States-based users of Strike, a digital payments platform built on Bitcoin’s Lightning Network, can now transfer funds instantly and at a low cost to Kenya, Ghana, and Nigeria via the recently added new feature known as “Send Globally.” The new feature instantly converts the funds to local currencies prior to moving them to recipients’ […]
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The cryptocurrency exchange had previously reported that it expected losses of $500 million this year amid the bear market.
