Cryptocurrency

The price of Polygon (MATIC) continued its positive weekly streak over the past 24 hours according to CoinMarketCap. At press time, the Layer-2 crypto was trading at $0.9204 following a 3.36% gain in the last day. This positive performance added to the altcoin’s already-positive weekly performance, which stood at +6.12% as a result.MATIC also outperformed the two crypto market leaders Bitcoin (BTC) and Ethereum (ETH) in the last 24 hours. As a result, the altcoin was up 1.92% against BTC and 1.90% against ETH. The altcoin had retraced somewhat from its daily high of $0.9514, however. Meanwhile, its 24-hour low was sitting at $0.8935.4-hour chart for MATIC/USD (Source: TradingView)MATIC’s price was at a decisive point at press time, as it was resting on a positive trend line on its 4-hour chart. A break below this trend line could see the altcoin’s price dropping to the next key support level at $0.89672. On the other hand, MATIC’s price remaining above the trend line for the next 24 hours will see it flip the closest resistance level at $0.94186 into support. Traders should note that the RSI was on the verge of flagging bearish, with the RSI line looking to cross below the RSI SMA line.Should the RSI line cross below the RSI SMA line on the 4-hour chart within the next 24 hours, MATIC’s price will also be at risk of breaking below the aforementioned $0.89672 in the following 48 hours. At this point, the crypto’s price will not have any support to prevent it from targeting $0.84395.Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or lossThe post MATIC’s Price Rests on a Positive Trend Line and Could Drop Soon appeared first on Coin Edition.See original on CoinEdition More

Nweze recently put this belief to the test, launching a beta version of his NFT marketplace on May 19. Rather than using Ordinals, it leverages the RGB Smart Contract Protocol to mint NFTs on top of the Bitcoin (BTC) network.Continue Reading on Coin Telegraph More

The project was part of the second phase of Eurosystem preparations for a potential pilot launch of a digital euro in the fall of this year. The exercise ran from July 2022 to February 2023. Continue Reading on Coin Telegraph More

According to an announcement sent to Cointelegraph, Cronos Labs handpicked eight projects to participate in their accelerator program. Each of the selected projects — namely Omnus, DeMe, Furrend, Solace, Sakaba, Eisen Finance, Earn Network and CorgiAI — received upfront seed funding of $30,000 to commence a 12-week program.Continue Reading on Coin Telegraph More

In Madrid’s post, he warned Sandbox users that they should “never click on any link that promote Airdrop or URL and look SCAMMY – and not 100% using our proper and unique URL/domain name : http://sandbox.game.”Continue Reading on Coin Telegraph More

After a bullish April, May was another month of exploits, rug pulls and hacks, bringing back uncertainty to DeFi. The most prominent headline marker in the past week was the Multichain protocol. The cross-chain DeFi protocol’s delayed node upgrade created a spiral impact and tanked its token price by 30%.Continue Reading on Coin Telegraph More

The XRP price battled between the bears and the bulls yesterday, as it saw a narrow trading range with a low of $0.4456 and a high of $0.4546. The market opened at $0.4536, with the bulls attempting to increase the price.However, the bears fought back, resulting in a slight dip, and the day closed at $0.4537. Today, a new monthly low of $0.4472 was established, testing the bulls’ resilience. Bulls, however, have nullified the negative trend resulting in a 2.55% surge to $0.4614 as press time despite facing resistance at $0.4661.XRP’s market capitalization increased by 2.65% to $23,944,024,717, but its 24-hour trading volume decreased by 11.06% to $841,565,656 during the bull-bear duel. This drop shows that some traders may have chosen to remain on the sidelines or take gains, reflecting the cautious mindset prevalent in the XRP market.XRP/USD 24-hour price chart (source: CoinMarketCap)The Chaikin Money Flow on the XRP/USD 4-hour price chart is heading lower with a level of 0.03, indicating that bullish strength is fading. The CMF’s movement and the decrease in trading volume indicate that capital outflows increase as traders take gains and exit their positions.The Relative Strength Index rating of 56.97, on the other hand, indicates that the market is currently in a neutral zone, with neither the bulls nor the bears holding a clear edge. This might indicate that the market briefly pauses before continuing its upward or negative trend.When the RSI rises over 60, the bulls may gain ground, and the buying pressure will increase in the market. However, if the RSI falls below 50, it may indicate that selling pressure is building and the bears are gaining control hence the need to set stop-losses.XRP/USD chart (source: TradingView)The stochastic RSI value of 88.29 on the XRP/USD price chart indicates that the market is overbought. This movement warns traders that the market’s bullish momentum may have peaked and that a reversal is possible.Overboughtness at this level is often seen as a signal to take gains, exit long positions, or even consider shorting XRP.XRP/USD chart (source: TradingView)In conclusion, XRP’s price battles between bears and bulls showing signs of caution and possible reversal as market indicators hint at fading bullish strength and overbought conditions.Disclaimer: The views, opinions, and information shared in this price prediction are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be liable for direct or indirect damage or loss.The post Bulls and Bears Clash: XRP Price Tests 30-Day Low Amid Volatility appeared first on Coin Edition.See original on CoinEdition More

Early positive momentum pushed the Sui (SUI) price to a new 24-hour high of $0.9938 before it ran into selling pressure. As the bull’s vigor faded, the Sui bears took market control and effectively dropped the price to a 7-day low of $0.9483, where support was formed.Despite the bulls’ best efforts, the bears retained control of the Sui market as of press time, resulting in a 1.99% drop from its previous close of $0.9668.The market capitalization of SUI fell 1.85% to $510,578,894, while the 24-hour trading volume increased by 1.37% to $225,287,618. This action implies that traders are buying the dip, hoping to profit from the market’s downward trajectory.SUI/USD 24-hour price chart (source: CoinMarketCap)The Relative Strength Index (RSI) on the SUI/USD 4-hour price chart is 27.06 and is moving below the signal line, showing the market’s negative momentum.However, a positive reversal is probable since the RSI is in the oversold range (below 30). This movement and the increased trading volume suggest buyers are entering the market, possibly driving up the price.The MACD line motion is in negative territory, with a value of -0.0364, indicating that some selling pressure is still present. The MACD histogram, on the other hand, indicates hints of a probable bullish crossing, which might indicate a change in momentum. If the MACD line and histogram shift to the positive side, it might imply a buy signal for traders.SUI/USD chart (source: TradingView)The Truth Strength Index is a line that oscillates around zero, with positive values indicating a bullish trend and negative values indicating a bearish trend. The 4-hour SUI price chart shows the TSI moving in the negative zone with a value of -40.8871, indicating that the market is now in a bearish trend. This movement suggests that traders consider shorting positions to avert future losses.The Money Flow Index rating 18.10 indicates intense market selling pressure, reinforcing the negative trend. A considerable rise in purchasing pressure and an MFI level over 50 are required for a reversal.SUI/USD chart (source: TradingView)In conclusion, the Sui (SUI) market faces bearish pressure with potential signs of a positive reversal. Traders are on the lookout for buying opportunities amid increased trading volume and indicators pointing towards a possible shift in momentum.Disclaimer: The views, opinions, and information shared in this price prediction are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be liable for direct or indirect damage or loss.The post SUI Suffers Setback: Bears Seize Control as Price Plummets to 7-Day Low appeared first on Coin Edition.See original on CoinEdition More