The crypto world is home to a number of protocols spectates overwhelming events coming in from numerous projects. This time around, the meme coin Shiba Inu is back in limelight, post its healthy run on the charts. The buzz in the business comes as the Shiba Inu team announces updates around its virtual land in its metaverse “Shiberse”.
The updates around the virtual land in Shiba Inu’s metaverse have thunderstruck a spark of interest amongst the savvies. Investors are now keen on the initiative by the meme coin team. As they now have an alternative to Decentraland, and The Sandbox to consider. In the interim, SHIB price falls back to double-digit losses, post its 75% moonish run.
Will Shiberse Be A Host To Global Giants?
The Shiba Inu team has made announcements of its virtual real estate, which is named “Shiba Lands”. The virtual land parcels will be available for purchase, as the firm ventures into its metaverse “Shiberse”. The initiative enables the token holders to own land, in the canine-themed metaverse. The bidders for the properties would be allotted via a queue system.
Successively, the queue system will ease out the process preventing congestion and high gas fees. It is learned that priority will be given to LEASH holders, giving them an edge over others. The land sale will be open to the general public only after the LEASH holders have bid for their respective properties.
The move by the makers would further empower the LEASH token’s value and the holder count. LEASH and BONE holders have been getting enticing perks from the makers. Across their development initiatives such as Shibarium and DOGGY DAO. The strategy from the team would create a balance in the tokens from the ecosystem.
In the interim, the SHIB price has fallen back to another round of correction. Post a healthy 75% run since the start of the month. The canine-based coin at the time of press is changing hands at $0.00003135 with a dip in profits by 10%. While the market cap has crept back to levels around $17,226,028,509, the 24-hours trade volumes are at $3,028,684,447.
Summing up, Shiba Inu’s metaverse “Shiberse” has caught the interests of the masses. When launched the project will be a direct rival to the likes of Decentralnd, The Sandbox, and the much-talked Metapolis from Zilliqa. Shiba Inu has been taking giant strides in withdrawing its fun-only tag, as the utility now seems to be challenging bigger players. Factoring in the initiatives in the pipeline SHIB is emerging as a buy during the dips.
Bitcoin price started a downside correction below USD 44,000.
Ethereum declined below USD 3,100, XRP is still well above USD 0.80.
LEO trimmed gains after skyrocketing yesterday, while LRC, NEAR, and AR are down over 7%.
Bitcoin price spiked above the USD 45,000 resistance zone before the bears appeared. BTC topped near USD 45,300 and started a downside correction. It is currently (04:23 UTC) trading near USD 43,500 and might test the USD 42,750 support.
Similarly, most major altcoins are also moving lower. ETH spiked above USD 3,200 before there was a drop below USD 3,100. XRP is now consolidating gains near the USD 0.85 level. ADA is down 6% and trading near USD 1.15.
Total market capitalization
Source: tradingview.com
Bitcoin price
After facing resistance near USD 45,500, bitcoin price started a downside correction and there was a move below the USD 43,000 level before recovering higher. On the downside, an immediate support is near the USD 43,000 level. The next key support is near the USD 42,750 level, below which the price might drop to USD 42,000.
On the upside, an initial resistance is near USD 43,850. The next major resistance is near the USD 44,000 level, above which the bulls might retest USD 45,000.
Ethereum price
Ethereum price also attempted a clear move above USD 3,200 resistance but failed. As a result, ETH started a downside correction below USD 3,100 and might test the USD 3,040 support. The next major support is near USD 3,000, below which there is a risk of a sharp decline.
If there is another increase, the price might face resistance near USD 3,150. The next key resistance is still near USD 3,200.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) is down 6% and trading well below USD 1.20. It is approaching the USD 1.15 support. If there is a downside break, the price might slide towards USD 1.12. The next major support is near the USD 1.08 level.
Binance coin (BNB) is also down almost 6% and trading below USD 420. It might soon test the USD 400 support zone. If the bulls fail to protect USD 400, the price might decline towards the USD 385 support.
Solana (SOL) is moving lower towards the USD 110 level. The next key support is near USD 105. A clear move below USD 105 may possibly push the price below the USD 100 support.
DOGE spiked towards the USD 0.175 level before it started a downside correction. The price is heading towards USD 0.150. If there are additional losses, DOGE might test the USD 0.142 support in the coming sessions.
XRP price is trading near the USD 0.85 level. An immediate support is near the USD 0.82 level, below which the price might test USD 0.80. If not, it might revisit the USD 0.90 resistance zone.
Other altcoins market today
Many altcoins are down over 5%, including LUNA, DOT, SHIB, MATIC, ATOM, LINK, NEAR, UNI, ALGO, BCH, FMT, and XLM. Conversely, LEO is still up almost 56% and trading near USD 7.50, after it hit its new all-time high of USD 8.14 (per Coingecko) following the Bitfinex news.
Overall, bitcoin price is correcting gains from well above USD 45,000. If BTC remains above USD 42,750, it could start a fresh increase in the coming sessions.
As the crypto market reclaims $2 trillion again, Bitcoin seems to be making a strong move above $44,000. As of press time, Bitcoin is up 3.33% trading at $44,238 with a market cap of $836 billion.
The most important thing is that Bitcoin has given a daily close above its 50-day moving average of $42,500. Based on historical trends, popular crypto market analyst Lark Davis predicts a possibility of touching a new all-time high this March 2022.
Davis mentioned that “Last two times we crossed over this line BTC rallied by 54% and 47%. If history rhymes then we could see BTC rallying up into the 60k range in the next few weeks”. He further added:
The last two 50 day MA breakouts lasted 40 and 46 days until we saw peaks form for the price of #bitcoin. So new high for BTC late March? BTW the break 50 DMA break out in 2020 lasted 180 days. Food for thought.
Courtesy: TradingView/Lark Davis
A ton of institutional money also keeps coming to Bitcoin. Big market players have been accumulating BTC during this correction with MicroStrategy and El Salvador filling up their bags.
In another big announcement on Monday, February 7, KPMG Canada also announced that they will be adding Bitcoin and Ethereum to their balance sheet. This is another big corporate announcement for Bitcoin investments, and probably the first of 2022. We expect more companies to allocate some capital to Bitcoin ahead this year.
1. Bitcoin and Ethereum Taking the Lead
Looking at the charts, it is clear Bitcoin and Ethereum are acting as the north-star to drive the crypto market rally further. On-chain data provider Santiment reports:
Both Bitcoin and #Ethereum are thriving once again. $BTC is up to $44.4k for the first time since in over a month, and $ETH is back above $3,180 for the first time in 2.5 weeks. Trader returns on each network are at their most positive since October.
Apart from BTC, the altcoin space is also bustling with XRP and Polygon (MATIC) registering more than 10% gains each.
Axie Infinity, Splinterlands, and Axes Metaverse are the top 3 P2E games right now.
These games offer diverse opportunities to users.
Before the dawn of blockchain, mobile gaming was an expensive undertaking for most people. It involved endless payments for subscription renewal, expensive plugins, and purchasing several features for the next-level experience.
All that changed with DeFi and NFTs. Play-to-earn (P2E) games are all the craze now. The promise of making a return while enjoying your favorite game has almost everyone switching to P2E games. Of course, the weary still choose to pay, but that is changing fast. So which mobile P2E games offer gamers the best returns? The article shall expound on them.
Axie Infinity
It should perhaps come as no surprise that one of the play-to-earn mobile and PC games with impressive returns is most popular. Axie Infinity is the 2nd most popular P2E, according to a 30-day user countdata gathered.
The game is hosted on the Ethereum blockchain on RONIN. It allows users to collect, battle, breed, and trade axies, which are NFTs disguised as creatures in the game. It is more or less a blockchain version of the all-popular Japanese-based game Pokemon. To join, one has to buy three axies, each costing 0.019 ETH.
Axie’s popularity is anchored by its diverse ways of earning. To begin with, Smooth Love Portions or SLPs (ERC-20 tokens) when they battle. They are in high demand since they are needed to breed new Axies. On average, one earns between 100 to 200 SLPs, each equivalent to about $0.03, which doesn’t sound like a lot.
The second way to earn involves another ERC-20 token called the Axie Infinity Shard (AXS). This is the real deal since one is worth an impressive $94! A player either gets into player vs. player battles or breeds monsters using SLP to earn one. But one should always opt to HODL onto their AXS, for they are another cash cow. The Axie community treasure rewards those who opt to stake their AXS, with an estimated APR of about 115%. A very good deal.
There is still yet another earning method. For all the battles one engages and earns SLPs, they can breed more Axies. So one will end with a lot more Axies than the three they began with at the start of everything. An Axie’s starting sale price is $71, though the average is closer to $300, which isn’t even close to the limit. Two triple infinity mystic Axies sold for a whopping$1.1million.
Splinterlands
Many house parties have had card games to add fun to it. For these and anyone who likes card games, this is a must-have game. The cards are digitized NFTs onSplinterlands.
The game is free if playing is the option, but to access its P2E, a player has to buy a $10 summoner’s book. It acts as the key that unlocks access to the trade market, tournaments, and earning rewards. The earnings are quite good on Splinterland. All one needs after purchasing the summoner’s book; all one needs is an Android phone or a PC.
The first mode of earning is via Dark Energy Crystals (DEC). They serve as the platform’s main token and are earned simply by participating in ranked battles. The number of DEC’s earned is dependent on what league level one is gaming, how many opponent players are there, what one’s winning streak is, what card choice one opts for, and several other variables.
The valuation of a DEC is around $0.008. The figure does sound disheartening and small. But here is a fact, players can easily earn 500 DEC per hour. So four hours of fun games are $16 in easy earnings. Alternatively, one has the option of earning Splinterlands credits for playing. However, the credit can only be spent in-game to buy a host of utilities such as cards and packs. It is an NFT trading facilitator that has real-life benefits for players. The rarer a card is, the more valuable it is. So one can buy very rare cards and trade them in several NFT marketplaces. For instance, one person put up an Archimage Arius Promo Edition card for sale at $30,000.
Axes Metaverse
The International mobile game developerAzur Games has several upcoming projects that could spell good earnings for players. Of particular focus is its battle-royal P2E game. The Axes Metaverse unlocks a whole new world of earning opportunities. Games include;
Battleground, where players control their heroes in large-scale P2E battles,
Team Tactics, a tactical role-playing game in which players assemble heroes for dangerous missions, AND,
Kingdom Wars, a multiplayer strategy game involving fighting for land ownership, building, and defending castles.
It is a real-world game since all games share a common economy. Resources earned in one game are usable in another, like training a hero in one and deploying them in another game. Earning opportunities include trading in NFTs, mining heroes and lending them, battling, and staking NFTs.
Conclusion
There are many P2E games with opportunities to generate earnings for players. Many are quite recent since playing to earn via NFTs is an ever-evolving space in the DeFi world. As such, a truly reflective list of games with the best earnings isn’t a long one since new games might rapidly disrupt it in a month or two.
Axie Infinity and Splinterlands can however be expected to hold out for quite a while. They offer very good earnings in very diverse ways to their users. A player who fully explores and utilises them can rapidly make many times their initial investments within a month, a rarity in the business world. However, Azur Games’ Axes Metaverse may face a strong challenge when it comes online soon.
The global coin market has rolled up its sleeves for a run to the moon. As the digital assets from its directory script greener numbers. While the protocols from the industry have never lacked the zeal with the number of developments, utility, and community strength. The growing monetary numbers have brought in the lost thrill in the business.
Successively, the sixth-largest digital asset Cardano, has initiated the year on a positive note. Has been making frequent visits, amongst talks in the crypto town. The developmentally sound network, this time around has been making a buzz with its wallets and applications. Alongside the healthier gains in the valuation of the asset.
Is Cardano Suited Up For A Gargantuan Flight?
The wallets holding Cardano’s native currency ADA has been on an inclining rise since the start of the year. Successively, the number of wallets has risen over 13% since the start of 2022. To be specific, the total number of newer wallet additions per day stands over 9,184. According to some reports, the total number of ADA wallets reached a new milestone of 3 Million.
Successively, the launch of the latest version of the Daedalus wallet, has caught the interests of the masses. That upgraded version accompanies notable improvements and upgrades, to counter the limitations, like blockchain verification progress, amongst others. Clarifying the misconception around Daedalus, the developers have cited that Daedalus wallet is only available for Desktops and not mobile phones.
In addition, the Cardano network has been witnessing a rise in mid-term holders off-late. Which savvies are now contemplating to be the rationale behind the increase in buying pressure of Cardano’s native currency ADA.
On the contrary, what has come as a surprise for the community, is the network’s sprawl in adoption and usability. Cardano being home to diverse offerings of the business, that includes NFTs, DeFi, Layer-2, and DEX’s. While DEXs on the network are still getting started, SundaeSwap has emerged as a prime example despite the limitations.
Summing up, Cardano has caught the wind of fellow alts and has been changing hands presently at $1.20 with 8.5% gains. While the increase in block size is yet to bear fruits, considering the growing metrics, utility, and incoming updates until June. Cardano could eventually initiate a trend reversal towards and possibly beyond its ATH.
BTC’s attempt to flip $42,000 to support could pull altcoin traders into ETH, NEAR, MANA and LEO.
Bitcoin (BTC) surged above the $40,000 psychological resistance on Feb. 4 and successfully held the level over the weekend. This boosted the total crypto market capitalization from $1.78 trillion on Feb. 3 to about $2 trillion on Feb. 6.
A new financial disclosure by Senator Ted Cruz shows that he bought the recent dip in Bitcoin on Jan. 25 through River brokerage. On that day, Bitcoin traded roughly between $35,700 and $37,600. If the Texas Senator has held his purchase, he is already in the profit.
Although the sharp recovery in Bitcoin’s price may have provided relief to the bulls, data analyst Material Scientist warned that large traders with a ticket size of over $100,000 are selling the rally.
Could Bitcoin hold or extend its gains? If that happens, could the altcoins join the party? Let’s study the charts of the top-5 cryptocurrencies that look ready to move to the upside in the short term.
BTC/USDT
Bitcoin soared and closed above the 20-day exponential moving average ($39,600) on Feb. 4, indicating that bulls are attempting a strong comeback. The small range day on Feb. 5 shows that traders who may have purchased at lower levels are in no hurry to book profits yet.
BTC/USDT daily chart. Source: TradingView
The relative strength index (RSI) has jumped into the positive territory indicating that the momentum favors the bulls. However, it is unlikely to be a straight dash higher for the BTC/USDT pair.
The bears are likely to mount a stiff resistance in the zone between the 50-day simple moving average ($42,860) and $44,500.
If the price turns down from the overhead zone but does not plummet below $39,600, it will suggest that the level has flipped to support. The bulls will then again try to push the pair above the zone. If they succeed, the next stop could be the 200-day SMA ($49,115).
BTC/USDT 4-hour chart. Source: TradingView
The 4-hour chart shows an ascending triangle formation, which completed on a break and close above $39,320. This bullish setup has a pattern target at $45,722. The price is currently stuck in a tight range between $42,168 and $40,843.
A break and close above this range will signal the resumption of the uptrend. The pair could then climb to $44,500 where the rally may hit a barrier. On the contrary, if the price turns down and breaks below $40,800, the pair could plunge to the breakout level at $39,320.
ETH/USDT
Ether (ETH) surged above the 20-day EMA ($2,839) on Feb. 4 and has reached the resistance line of the descending channel. This level has acted as a strong resistance previously, hence the bears may again try to defend it with all their might.
ETH/USDT daily chart. Source: TradingView
If the price turns down from the zone between the resistance line and the 50-day SMA ($3,256), it will suggest that bears continue to sell at higher levels. The ETH/USDT pair could first drop to the 20-day EMA and then to $2,652.
If the price rebounds off this zone, it will indicate a change in sentiment from sell on rallies to buy on dips. The bulls will then make one more attempt to push the pair above the overhead zone. If that happens a trend change could be in order.
Alternatively, a break below $2,652 will suggest that the pair may continue to trade inside the channel for a few more days.
ETH/USDT 4-hour chart. Source: TradingView
The 4-hour chart shows the price is rising inside an ascending channel pattern. The 20-EMA and the 50-SMA have turned up and the RSI is in the positive territory, indicating that bulls have the upper hand.
If bulls drive the price above the channel, the momentum could pick up further and the pair may rally to $3,400 where the bears are expected to mount a stiff resistance. Conversely, if the price breaks below the 20-EMA, the pair could plummet to the support line of the channel.
NEAR/USDT
NEAR protocol (NEAR) bounced off the psychological support zone at $10 to $9.50 and cleared the 20-day EMA ($12.58) hurdle on Feb. 4. The bears tried to pull the price back below the 20-day EMA on Feb. 5 but the bulls held their ground.
NEAR/USDT daily chart. Source: TradingView
The up-move has resumed today and the bulls are trying to push the price above the 50-day SMA ($14). If they manage to do that, the NEAR/USDT pair could climb to the 50% Fibonacci retracement level at $15.05 and then to the 61.8% retracement level at $16.36. The bears are likely to mount a strong defense in this zone.
Conversely, if the price turns down from the current level, the bears will attempt to pull the pair below the 20-day EMA. If they manage to do that, it will suggest that bears continue to sell on rallies. The pair could then once again drop to $10.
NEAR/USDT 4-hour chart. Source: TradingView
The 4-hour chart shows the formation of a symmetrical triangle which generally acts as a continuation pattern but in this case, has functioned as a reversal pattern.
Currently, the recovery is facing stiff resistance at the 200-SMA. If the price rebounds off the 20-EMA, it will suggest that bulls are accumulating on dips. That could improve the prospects of a break above 200-SMA. If that happens, the up-move could reach the pattern target of the setup at $16.36.
This positive view will invalidate in the short term if the price breaks below the 20-EMA. In such a case, the pair could drop and retest the breakout level from the triangle.
MANA/USDT
Decentraland (MANA) broke above the 20-day EMA ($2.70) on Jan. 31 but turned down from the 50-day SMA ($2.93) on Feb. 1. The bears tried to pull the price back below the 20-day EMA but failed. This indicates that the 20-day EMA may have flipped into support.
MANA/USDT daily chart. Source: TradingView
The up-move resumed and the bulls pushed the price above the 50-day SMA on Feb. 05. If bulls sustain the price above the 50-day SMA, the MANA/USDT pair could rise to the overhead resistance at $4.
Conversely, if the price turns down and breaks below the moving averages, it will indicate that bears are selling aggressively at higher levels. In that case, the pair could retest the strong support at the 200-day SMA ($2.03).
MANA/USDT 4-hour chart. Source: TradingView
The 4-hour chart shows that both the 20-EMA and the 50-SMA are sloping up and the RSI is in the overbought zone. This indicates that bulls have the upper hand. Any dip from the current level is likely to find support at the moving averages.
On the upside, the buyers may face stiff resistance at $3.40 and later at $4. This positive view will be invalidated if the price turns down from the current level and breaks below the moving averages. The pair could then drop to $2.40.
LEO/USD
UNUS SED LEO (LEO) completed an ascending triangle pattern when it broke and closed above $3.92 on Feb. 1. The bears tried to pull the price back below the breakout level on Feb. 2 and Feb. 3 but the bulls did not relent.
LEO/USD daily chart. Source: TradingView
The buying resumed on Feb. 4 and the price soared to a new all-time high at $5.44. However, the long wick on the day’s candlestick shows profit-booking at higher levels. The pullback has pulled the RSI out of the deeply overbought zone.
Usually, the corrections in an uptrend are short-lived. The long tail on today’s candlestick suggests aggressive buying at lower levels. The bulls will now attempt to push the LEO/USD pair above $5.44. If they succeed, the pair could rally toward the pattern target at $5.81 and later to $6.
Alternatively, if bears pull the price below $4.50, the pair could correct to the 20-day EMA ($4.06).
LEO/USD 4-hour chart. Source: TradingView
The 4-hour chart shows the pair is correcting in an uptrend. The bulls successfully defended the 20-EMA and are attempting to push the pair above the psychological level at $5. If they do that, the pair could retest the all-time high at $5.44.
Conversely, if the price turns down from the current level and breaks below the 20-EMA, it will indicate that traders are aggressively booking profits at higher levels. If the price slips below $4.38, the pair could drop to $4.20.
A closely followed crypto analyst says that XRP will explode once the lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission concludes, but more downside is possible before then.
In an interview with Thinking Crypto, the pseudonymous analyst known as Credible Crypto says XRP’s technicals are currently suggesting more bearish action.
“XRP is one that doesn’t look that great right now… I think that we’re probably going to go for these lows here ($0.50) and push into… this weekly level of demand that we have here. Again, this level is significant because from this level we saw a major move to the upside after what was essentially about six months of consolidation.
So the origin of the point at which this consolidation starts to break whether that be the upside or the downside, typically then acts as support or resistance when it’s revisited. So just from a high timeframe perspective, you can expect that this region in general, and the tighter we get here, this general region is going to act as support as we’ve seen it act in the past.”
Source: Credible Crypto/Thinking Crypto
Credible Crypto says that there are big fundamental reasons to hold XRP despite the ongoing downward price action. According to the crypto analyst, the lawsuit between Ripple Labs and the SEC, which was filed in December of 2020 on allegations that XRP was sold as an unregistered security, could ultimately provide regulatory clarity for the token while the rest of the space ends up in limbo.
“The reason why I still hold such a massive amount of XRP despite the sluggish price action is that I now kind of see it as a hedge against the rest of the market. If this SEC lawsuit ends – and I think it will, I don’t know when – but I think it will end ultimately favorably for Ripple and XRP and when it does end, XRP will essentially be the only crypto asset with regulatory clarity in the United States…
When the case does get settled, you can expect XRP’s price to absolutely pop. So if you’re waiting to hear the outcome of the case to jump in, you’re going to be too late. So you’re placing your bets right now and if your bet pays off and XRP wins, XRP is going to rocket, and then everything else is at the mercy of the SEC, and we don’t know what’s going to happen.”
Ethereum keeps its gains above USD 3,000, XRP broke the USD 0.70 resistance.
DOGE climbed 7% while SHIB rallied 25%.
Bitcoin price started a strong increase and cleared the USD 40,000 resistance. BTC even surpassed the USD 42,000 resistance. It is currently (04:21 UTC) showing positive signs and is trading above USD 42,800 after increasing 3% in a day and 13% in a week.
Similarly, most major altcoins are rising steadily. ETH was able to settle above the USD 3,000 resistance level. XRP climbed above the USD 0.70 resistance level. ADA is trading above the USD 0.150 pivot level.
Total market capitalization
Source: tradingview.com
Bitcoin price
After forming a base, bitcoin price was able to climb above the USD 40,000 resistance. BTC bulls took control and pushed the price above USD 41,500. The price even spiked above USD 42,500. The next major resistance is near the USD 43,000 level, above which the price could accelerate higher towards the USD 44,500 level.
On the downside, an immediate support is near the USD 42,000 level. The main weekly support is now forming near the USD 40,000 level, below which the price could start another decline.
Ethereum price
Ethereum price followed a bullish path above the USD 2,880 resistance level. ETH climbed above the USD 3,000 barrier and accelerated higher, increasing 2% in a day and almost 18% in a week. It is now facing resistance near the USD 3,080 level. The next key resistance is near USD 3,120, above which the bulls might move towards the USD 3,350 level.
An initial support is near the USD 3,000 level. The next major support is near USD 2,880, under which the price may perhaps drop to USD 2,600.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) was able to surpass the key USD 1.150 resistance zone. It seems like the price could even rise to USD 1.188. Any more gains might send the price towards the USD 1.20 resistance zone.
Binance coin (BNB) surpassed the main USD 400 resistance level. It is now consolidating above the USD 420 level. If the bulls remain in action, the price could rise towards the USD 445 and USD 450 resistance levels.
Solana (SOL) climbed above the USD 112 resistance level and is nearing the USD 120 level. If there is an upside break above USD 120, the price could rise towards the USD 125 and USD 132 levels.
DOGE is gaining momentum above the USD 0.155 resistance level, gaining 7% in a day and 13% in a week. The next key resistance is near the USD 0.162 level. If there is a downside correction, the price might find support near the USD 0.150 level.
XRP price is up 8% in a day and there was a clear move above the USD 0.70 level. The next major resistance is near USD 0.750, above which the price may perhaps accelerate to USD 0.80.
The entire cryptocurrency market is off to a rocky start in 2022. Bitcoin notched a three-month low as global markets continued their New Year sell-off due to different factors. Ethereum fared even worse to start 2022, down nearly 18% following hawkish Federal Reserve meeting minutes.
On-Chain metrics too support this bullish run for both, Bitcoin and Ethereum. According to Glassnode, a data analysis platform- Bitcoin’s Liveliness showcased a preference for HODLing, rather than spending.
#Bitcoin Liveliness is a macro metric which tracks coin dormancy vs coin-day destruction.
The current market is seeing a preference for HODLing, rather than spending. This leads to a downtrend in liveliness, typically seen within the context of bear market accumulation phases. pic.twitter.com/a2Y9Uyptmt
EOS’s bearish market price prediction for 2022 is $2.052.
In EOS’s (EOS) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about EOS to analyze the future movement of the cryptocurrency.
EOS Current Market Status
The price of EOS is $2.49 with a 24-hour trading volume of $317,084,969 at the time of writing. However, EOS has increased nearly 2.4% in the last 24 hours.
Moreover, EOS has a circulating supply of 983,288,390 EOS. Currently, EOS trades in cryptocurrency exchanges such as Binance, OKX, CoinTiger, Bitget, and Mandala Exchange.
What is EOS (EOS)?
EOS is a platform that’s designed to allow developers to build apps (DApps). The main goal of EOS is to make it as straightforward as possible for programmers to embrace blockchain technology and make sure that the network is easier to use than rivals. EOS uses a delegated proof-of-stake consensus mechanism. In EOS, token holders have the ability to vote for block produces, as well as other matters such as protocol upgrades.
EOS (EOS) Price Prediction 2022
EOS price prediction 2022 is explained below with a weekly time frame.
Horizontal channels are trendlines that connect variable pivot highs and lows to show the price contained between the upper line of resistance and lower line of support. A horizontal channel is also known as a price range or sideways trend. Horizontal channels are trendlines that connect variable pivot highs and lows. A horizontal channel provides traders with precise points for entering and exiting trades.
Currently, EOS is in the range of $2.49. If the pattern continues, the price of EOS might reach the resistance level of $8.350. If the trend reverses, then the price of EOS may fall to $1.950.
EOS (EOS) Support and Resistance Level
The below chart shows the support and resistance level of EOS.
EOS/USDT Support and Resistance Level (Source: TradingView)
From the above daily time frame, it is clear the following are the resistance and support levels of EOS.
Resistance Level 1
$3.065
Resistance Level 2
$4.147
Resistance Level 3
$5.504
Resistance Level 4
$6.800
Support Level
$2.052
EOS Resistance & Support Level
The charts show that EOS has performed a bullish trend over the past month. If this trend continues, EOS might run along with the bulls overtaking its resistance level at $6.800.
Accordingly, if the investors turn against the crypto, the price of the EOS might plummet to almost $2.052, a bearish signal.
EOS Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of EOS is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of EOS lies below the cutoff line, indicating weaker participants in the current trend.
More so, the EOS’s Moving Average (MA) is shown in the chart above. Currently, EOS is in a bearish state. Notably, the EOS price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of EOS at any time.
Meanwhile, the relative strength index (RSI) of the EOS is at level 49.02. This means that EOS is in a nearly oversold state. However, this means a major price reversal of EOS may occur in the upcoming days. So, traders need to trade carefully.
EOS Price Prediction 2022 — ADX, RVI
Let us now look at EOS’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of EOS. Currently, EOS lies in the range of 45.454, so it indicates a strong trend.
From the above chart, the Relative Volatility Index (RVI) of EOS. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of EOS lies above the 50 levels, indicating that the direction of volatility is high. In fact, EOS’s RSI is at 49.02 level thus confirming a potential sell signal.
Comparison of EOS with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and EOS.
BTC Vs ETH Vs EOS Price Comparison (Source: TradingView)
From the above chart, we can identify the trend of the ETH, BTC, and EOS is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and EOS also increases or decreases respectively.
Conclusion
With continuous improvements in the EOS network, we can say that 2022 is a good year for EOS. For this reason, the bullish price prediction of EOS in 2022 is $6.800. On the other hand, the bearish EOS price prediction for 2022 is $2.052.
Furthermore, with the advancements and upgrades on the EOS ecosystem, the performance of EOS would help to reach above its current all-time high (ATH) $22.71 very soon. But, it might also reach $7 if the investors believe that EOS is a good investment in 2022.
FAQ
1. What is EOS?
EOS is a platform that’s designed to allow developers to build apps (DApps). EOS uses a delegated proof-of-stake consensus mechanism.2. Where can you purchase EOS?
EOS has listed on many crypto exchanges which include Binance, OKX, CoinTiger, Bitget, and Mandala Exchange.3. Will EOS reach a new ATH soon?
With the ongoing developments and upgrades within the EOS platform, it has a high possibility of reaching its ATH soon.4. What is the current all-time high (ATH) of EOS?
On April 29, 2018, EOS reached its new all-time high (ATH) of $22.71.5. Is EOS a good investment in 2022?
EOS (EOS) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of EOS in the past few months, EOS is considered a good investment in 2022.6. Can EOS (EOS) reach $7?
EOS (EOS) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then EOS (EOS) will hit $7 soon.7. What will be the EOS price by 2023?
EOS (EOS) price is expected to reach $8.5 by 2023.8. What will be the EOS price by 2024?
EOS (EOS) price is expected to reach $9.8 by 2024.9. What will be the EOS price by 2025?
EOS (EOS) price is expected to reach $11.2 by 2025.10. What will be the EOS price by 2026?
