A committee of unsecured creditors stemming from the Celsius bankruptcy case has filed a motion with the court to stop the now-defunct crypto lender from selling the company’s stablecoin holdings. The written protest by the group of creditors against the sale follows objections from a slew of securities regulators filed on Sept. 29. Creditors Object […]
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THETA, the 51st ranked cryptocurrency in terms of market capitalization according to online tracker Coingecko, is performing relatively well now as it stays on the green zone as far its short-term and long-term price monitoring is concerned. THETA is all green in the charts except for its year-to-date progress The altcoin is sitting on a 17.2% 14-day increase A test of the $1.2 resistance zone is likely to happen for THETA At press time, the asset is trading at $1.16 and is up by 1.5% over the last day. On a weekly and biweekly timeframe, the crypto increased by 16.8% and 17.2%, respectively. Moreover, the past 30 days also saw the altcoin go up by 5.9%. It is still enjoying some residual momentum from the rally that the crypto market did just few days ago but still has long ways to go if it hopes surpass or even to just get closer to its April 16, 2021 all-time high value of $15.72. Nonetheless, THETA is still one of the better performers of the crypto space right now but interested buyers must first consider knowing even just a little of its price analysis before making the decision to accumulate. Related Reading: Shiba Inu Facing Tough Hurdles For Weeks – How Could SHIB Overcome These? Diving Into THETA Price Action Over the last two months, the crypto market was filled with uncertainty and was also plagued by massive sell-off from different assets. THETA managed to buckle down despite all of these and in doing so had placed its price in a falling wedge pattern as it was bullish but was eventually headed to an immediate correction. Source: TradingView During the last five days, the altcoin’s charts were filled with green candles as it went up by 15% on the way to testing the $1.2 marker. Meanwhile, the asset’s Relative Strength Index (RSI) has entered the overbought zone, indicating the need to somehow put a stop to aggressive buying from traders in order to stabilize the price rally. Moreover, during the recent crypto market rally, THETA price increased rapidly and, owing to its current pattern, needs to undergo correction before resuming its recovery and eventual upward movement. Related Reading: Why Bitcoin (BTC) Could Not Surpass Litecoin (LTC) In This Key Area Price Forecast for the Crypto Asset As suggested earlier, the next few days will be painted in red for THETA as it is heading towards its impending price stabilization. According to Coincodex, over the next five days, the asset will slightly decline to trade at $1.15. The sharp correction will happen within the next 30 days as it is likely to plummet all the way down to $0.58. The token has 17 technical indicators that are giving off bearish signals and has settled in the Fear Region of the Fear and Greed Index. Investors and prospective buyers, however, must remember that if THETA stays true to the nature of its pattern, it will try to bounce back and make a rally of its own after its price dump. THETA market cap at $1.16 billion on the daily chart | Featured image from BlockchainReporter, Chart: TradingView.com Disclaimer: The analysis represents the author’s personal views and should not be construed as investment advice.
This is an extension of my original tweet on Twitter: https://twitter.com/DreamerlyHQ/status/1586024999638470656 The Twitter version is short and sweet while this post digs a little deeper into the subject. If you enjoy this post, please consider following our Twitter (@dreamerlyHQ) https://twitter.com/DreamerlyHQ (it really motivates me to write more cool and interesting stuff in the future, so…
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There has been some crazy movement in the Crypto Universe recently, especially for things that you don't usually see during a bear market. So lets take a look at some of the irrational things happening in the crypto market as of late. Reddit NFTS pumping and selling for insane amounts of money. An average $25…
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On-chain data shows the Bitcoin exchange inflows have spiked up over the last day, something that could prove to be bearish for the price of the crypto. Bitcoin Exchange Inflow Mean Has Observed Two Spikes In The Past 24 Hours As pointed out by an analyst in a CryptoQuant post, the two exchange inflow mean spikes amounted to around 21 BTC and 17 BTC respectively. The “exchange inflow mean” is an indicator that measures the mean amount of Bitcoin being transferred to the wallets of centralized exchanges per transaction. It’s different from the normal inflow metric in that instead of simply measuring the total number of coins flowing into exchanges, it tells us how large the average transaction to exchanges has been recently. When the value of this indicator is high, it means investors are depositing a lot of BTC to exchanges right now. Such a trend can be a sign of dumping in the market. Related Reading: Dogecoin Records Over 41% Gains Following Market Recovery On the other hand, low values of the metric suggest there isn’t much selling pressure in the Bitcoin market at the moment. Now, here is a chart that shows the trend in BTC exchange inflow mean over the last few days: Looks like the value of the metric seems to have been quite high recently | Source: CryptoQuant As you can see in the above graph, the Bitcoin exchange inflow mean has seen a couple of spikes in the last 24 hours. The first of these measured to around 21 BTC, which means that at the time it occurred the average transaction going into exchanges involved 21 coins. Similarly, the second spike had the mean inflow value touch more than 17 BTC. Related Reading: Why Bitcoin (BTC) Could Not Surpass Litecoin (LTC) In This Key Area Since these spikes have come as the price of the crypto has surged up, they could be coming from whales trying to profit from the pump. In the past, the occurrence of multiple Bitcoin exchange inflow mean spikes larger than 15 BTC in value has generally been followed by a dip in the crypto’s price. Below is another chart that the same quant posted earlier in the month, which displays a recent instance of this kind of trend in the inflow mean. The exchange inflow mean spikes lead to the price going down | Source: CryptoQuant BTC Price At the time of writing, Bitcoin’s price floats around $20.6k, up 8% in the last week. Over the past month, the crypto has gained 6% in value. The below chart shows the trend in the price of the coin over the last five days. The value of the crypto seems to have surged up recently | Source: BTCUSD on TradingView Featured image from Hans-Jurgen Mager on Unsplash.com, charts from TradingView.com, CryptoQuant.com
The reason I chose something like YouTube is because its somewhat tech related in comparison to something like gold mining (which uses up around 240 TW/yr). In fact, lets mention other tech and Web2 related things like Netflix and the US gaming industry which spend 94 and 34 TW/yr respectively. Ethereum has come a long…
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