March update: should you buy or sell ALPHA?

2021-3-22 21:27

The cryptocurrency market is losing its value this Sunday, the price of Bitcoin went below $56000 today, and the risk of further declines is not over yet. ALPHA is also under pressure; in less than several hours, this cryptocurrency price has weakened from $1.97 to $1.71, and the current price stands around $1.73.

Fundamental analysis: Alpha Finance announced that it had launched Alpha Homora’s BSC version

Alpha Finance is a decentralized protocol that supports various products and has its native coin under the symbol ALPHA. Alpha Finance Lab is an ecosystem of DeFi, and this project’s main goal is to create products with traditional finance principles while operating in a decentralized manner.

ALPHA price has exploded since the beginning of January and almost reached the $3 resistance level in February. ALPHA was one of the best performers on the cryptocurrency during the first week of February, but the price has extended its correction from the record highs.

This project’s most famous product is Alpha Homora that enables its users to participate as yield farmers, ETH lenders, or liquidators. This March, Alpha Finance announced that it had launched Alpha Homora’s BSC version (vBSC).

“Alpha Homora is not a simple product, and there are multiple analyses that we conduct (for both Alpha Homora on Ethereum and on BSC) to ensure that we don’t put our users at risk. Additionally, we have built monitoring tools for both Alpha Homora (vEthereum) and (vBSC) that will help us maintain the quality of our products even after the launch,” Alpha Finance reported.

Alpha Finance platform faces several challenges, and one of them includes the limited availability of products outside the Ethereum blockchain. Alpha Finance could also face a lack of liquidity, and my opinion is that there’s still a lot of uncertainty around this project.

The cryptocurrency market is losing its value this Sunday, the price of ALPHA can weaken even more in the upcoming days, and maybe it is not the best moment to buy this cryptocurrency.

Technical analysis: $2 represents a strong resistance level

ALPHA has advanced from $0.16 above $2.9 since the beginning of January 2021, and the current price stands around $1.73.

Data source: tradingview.com

If the price jumps above $2 resistance again, it would be a signal to trade ALPHA, and the next price target could be around $2.25 or even $2.5. On the other side, if the price falls below $1.5, it would be a firm “sell” signal, and we have the open way to the strong support level that stands around $1.

Summary

The cryptocurrency market is losing its value this Sunday, the price of ALPHA can weaken even more in the upcoming days, and maybe it is not the best moment to buy this cryptocurrency. Alpha Finance announced that it had launched Alpha Homora’s BSC version (vBSC), but there’s still a lot of uncertainty around this project.

The post March update: should you buy or sell ALPHA? appeared first on Invezz.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Доступно / Всего 0 LINKETHPA

price cryptocurrency alpha further declines yet under

Источник: invezz.com

price cryptocurrency → Результатов: 126


Bitcoin Approaches Price Discovery, All-Time Highs After Touching $18,800

Bitcoin price still continues to climb despite seven solid weeks of positive price momentum. Whether or not the cryptocurrency has already returned to price discovery mode or not, is debatable. But even if it isn’t, this latest push has brought the first-ever cryptocurrency to its final resistance level before setting a new record. When the […]

2020-11-21 19:32


Ban Bitcoin Before It Disempowers Our Foreign Policy – U.S. Congressman

Bitcoin is now the topic of most financial conversations (including those not in the cryptocurrency sector) and this has made the popularity increase and the price soar even higher. The coin successfully hit and crossed the $8,000 mark and even though its been fluctuating since then, the increase by $2000 within a few days is […] The post Ban Bitcoin Before It Disempowers Our Foreign Policy – U.S. Congressman appeared first on ZyCrypto.

2019-5-17 22:28


Shocking! ‘Bitcoin Wins the Trade War’ as Chinese Investors Pile In

By CCN: Bitcoin is on a tear as the price of the flagship cryptocurrency has gone supersonic in 2019. It is widely believed that bitcoin’s remarkable rally is a result of booming institutional interest in the cryptocurrency, as investors are looking for alternative asset classes to park their funds at a time when the stock market is in turmoil and the global economy is on edge.

2019-5-17 21:40


Bitcoin Maintains Its Near $8,000 BTC/USD Price Despite eBay and TD Ameritrade Rumors Debunked

Since the start of April, the cryptocurrency markets have been running wild as Bitcoin (BTC), the pioneer cryptocurrency, crossed the $5000, $6,000, $7,000 and $8,000 USD marks in less than 7 weeks. BTC currently trades at $7940 USD maintaining its high price even after the rumors that supposedly contributed to this bullish momentum were debunked. […]

2019-5-16 20:40


NEM Price Analysis XEM / USD: Stretched Bullish Breakout

NEM has a bullish short-term trading bias, with the cryptocurrency advancing to a new 2019 trading high The XEM / USD pair has an increasingly bullish medium-term trading outlook The daily time frame now shows that an even larger inverted head and shoulders pattern has now been created NEM / USD Short-term price analysis The […] The post NEM Price Analysis XEM / USD: Stretched Bullish Breakout appeared first on Crypto Briefing.

2019-5-17 18:52


Фото:

Big, greedy Ethereum whales account for 33 percent of cryptocurrency’s supply

Ethereum whales account for just 7 percent of transaction activity in the market – but they control a third of the cryptocurrency’s entire circulating supply. That’s according to a new study by Chainanalysis which found that although these whales don’t have a sizeable impact on Ether’s price, their large sell-offs do make the market more volatile on a daily basis.

2019-5-16 16:36


Bitcoin Wallets Trend as Top Apps on Apple Store as Price Spikes 112% YTD

Two leading bitcoin wallets were trending higher on a popular app marketplace on Tuesday. Twitterati CryptoRae shared a screenshot of the most-searched apps on the Apple Store. It showed Coinbase, a cryptocurrency wallet app managed by a San Francisco-based exchange of the same name, and Blockchain, a similar wallet service provider, listed on the Apple.

2019-5-16 15:00


Bitcoin Could See Profit-Taking Pullback to Mid-$6K, CNBC ‘Experts’ Say

Panelists at CNBC say that Bitcoin price could be due for a pullback despite climbing more than 120 percent since the start of the year. Third Time’s the Charm for Bitcoin? After months of muted conversation around Bitcoin, CNBC analysts are now back in the saddle again, with cautiously bearish sentiments about BTC as the cryptocurrency continues to enjoy a positive trajectory in 2019.

2019-5-16 14:00


Verge Price Analysis XVG / USD: Dead Cat Bounce

Verge has turned bullish in the short-term, with the cryptocurrency trading well above its 200-period moving average on the four-hour time frame The XVG / USD pair has now broken above its key 200-day moving average Bearish head and shoulders patterns remain valid on the four-hour and daily time frames Verge / USD Short-term price […] The post Verge Price Analysis XVG / USD: Dead Cat Bounce appeared first on Crypto Briefing.

2019-5-16 16:57


Stellar Lumen Price Analysis XLM / USD: Ignite The Upside

Stellar Lumen has a bullish short-term trading bias, with the cryptocurrency testing towards the April monthly high The four-hour time frame shows that bulls are attempting to invalidate a bearish head and shoulders pattern The daily time frame continues to show a large inverted head and shoulders pattern Stellar Lumen / USD Short-term price analysis […] The post Stellar Lumen Price Analysis XLM / USD: Ignite The Upside appeared first on Crypto Briefing.

2019-5-16 16:48


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Mercedes-Benz NXT Launches The Era of Technology NFT Collection

Experience the intersection of luxury and technology with Mercedes-Benz NXT's newest NFT collection 'The Era of Technology'. Limited edition, don't miss out! The post Mercedes-Benz NXT Launches The Era of Technology NFT Collection appeared first on NFT News Today.