SEC Drops Battle on Crypto Tokens: Solana, Cardano Off the Hook TipRanks
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Solana price has formed a triple-top pattern and a head and shoulders.
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Theta Network has moved above the cup and handle pattern.
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Hooked Protocol’s HOOK has surged above its all-time high.
Cryptocurrency prices moved sideways this week as the US dollar index continued its downward trend. Bitcoin rose above $23,000 for the first time in months while the total market cap of all cryptocurrencies rose to over $1 trillion. In this report, we will provide predictions for some of the top cryptocurrencies, including Solana, Theta Network, and Hooked Protocol.
Solana price prediction
Solana (SOL/USD) price has made a spectacular comeback as investors raise their bets that the blockchain will recover amid FTX woes. It has also been helped by the surge of NFTs traded in the ecosystem, as we wrote here. As such, Solana price soared to a high of $26.53, the highest point since FX imploded.
However, the 4H chart is sending a warning about the coin. A closer look shows that it has formed what looks like a triple-top pattern whose neckline is at $20.48. This pattern also has a close resemblance to a head and shoulders pattern. The two patterns are some of the most bearish patterns in the industry.
Therefore, there is a likelihood that Solana will have a bearish breakout in the coming days as sellers target the neckline of the two patterns at $20. This price is about 15% below the current level. It is also slightly below the 23.6% Fibonacci Retracement level.
How to buy Solana
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Public
Public is an investing platform that allows you to invest stocks, ETFs, crypto, and alternative assets like fine art and collectibles—all in one place.
Theta Network price prediction
Theta Network and TFUEL prices jumped sharply as investors cheered the recent launch of Theta EdgeStore. EdgeStore is a new component of the Theta Edge Node software that is run by thousands of people around the world. Once fully launched, the platform will make it possible for people to store their documents and files in a decentralized manner. Some of the files that will be stored in it are NFTs, video, software packages, and metaverse projects among others.
Turning to the 4H chart, we see that the THETA price has been in a strong bullish trend in the past few weeks. It managed to cross the important resistance level at $0.9821, the highest level on November 27. This was an important price since it was the upper side of the cup and handle pattern that formed. Therefore, by measuring the distance of the upper and lower sides of the cup, we can show that Theta price has more upside.
THETA/USD chart by TradingView
How to buy Theta Network
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Binance.US
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Hooked Protocol price prediction
HOOK price has been in a spectacular rally in the past few weeks because of the remarkable popularity of Wild Cash. It rose to an all-time high this week, bringing the year-to-date gains to over 200%. The coin has moved above all moving averages and the previous all-time high of $3.40. Therefore, using the trend-following approach, the coin will likely continue rising as buyers target the important resistance point at $4.
How to buy Hooked Protocol
Digital currencies had a mixed week as investors continued reflecting on the recent rally. They also reacted to important crypto news including the first interview by FTX’s new CEO on the future of the company. This article will provide the prediction of some of the top cryptocurrencies of the week.
FTX Token (FTT)
FTX Token price pared back some of its earlier losses after the current FTX CEO delivered his first interview with the WSJ. In it, he said that his team was working to reboot the collapsed company. He did not offer the timeline of when that will happen. Also, he did not answer the question about the shortfall the company has.
FTT price has been cruising recently after the company identified over $5 billion in liquid assets that it could sell to make customers whole. It has surged by over 181% from its lowest point in 2022, giving it a market cap of over $762 million.
As the FTT price rose, it climbed above the important resistance level at $1.95, the highest point on December 9. It seems like it is forming a double-top pattern whose neckline is at $1.7 and the upper part is at $2.81. The price is being supported by the 50-day moving average. Therefore, the outlook for the FTT price is bullish, with the target being at $2.8, which is about 20% above the current level.
How to buy FTTX Token
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.
Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
Bitstamp
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.
Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
Nexo (NEXO)
Nexo has been a survivor during the ongoing crypto winter. While its peers like Genesis, Celsius, and BlockFi have filed for bankruptcy, the company has thrived. The Nexo token price jumped this week after the company settled with the SEC and states for failing to register its lending products. It paid $45 million and avoided admitting any crime.
Nexo crypto price jumped to a high of $0.8363, the highest point since January 13. As it rose, the coin moved along the upper side of the Bollinger Bands and the 50-day moving average. It has formed an ascending channel and is nearing its upper side. Therefore, the NEXO token will likely resume the bearish trend during the weekend and retest the support at $0.75.
How to buy NEXO
Coingate
CoinGate is a Lithuanian-based fintech company founded in 2014. The payment gateway offers cryptocurrency payment processing services for businesses of any sizes. Permission-based account management, fiat payouts to the bank account and brand new email billing feature are just a few reasons why CoinGate has become a go-to payment processor for many.
Nexo
Since 2018 Nexo has strived to bring professional financial services to the world of digital assets. Leveraging the best of the team’s years of experience in FinTech along with the power of blockchain technology, Nexo empowers millions of people to harness the value behind their crypto assets, shaping a new, better financial system.
Hooked Protocol (HOOK)
HOOK price surged to the highest point since December as gaming tokens surged. The token has moved above the key resistance point at $1.87, the highest level in January. It has continued moving above the 25-day moving average and the ascending trendline shown in purple. It seems like bulls are now in control, which will see the coin’s price surge to $2.5. This outlook is about 22% above the current level.
How to buy Hooked Protocol
Hooked Protocol price defied gravity as the developers started airdrop distributions. It also rose as the platform rose to the top of the DappRadar rankings of the top BSC chain networks. HOOK rose to $2, which was much higher than this month’s low of $0.10.
What is Hooked Protocol and why is it rising?
Hooked Protocol is an on-ramp layer that hopes to guide the broad web3 adoption. Its main product is known as Wild Cash, which is a platform that provides quiz-to-earn and other gaming solutions with over 2 million users.
It also makes it possible for users to earn rewards through their Proof of Work (PoW) mechanisms by contributing to its platform. Further, users can refer other people to earn rewards in the ecosystem. Wild Cash’s Android app has over 1 million users and a 4.8 star rating.
There are several reasons why the HOOK price has defied gravity in the past few days. First, the developer started distributing the first batch of airdrops on Thursday. According to BscScan, there are now tokens worth $187 million in its airdrop wallet.
This airdrop was meant to reward early supporters of the network on the Hooked Party Pass NFTs. It also supports the motivation of users to continue building on the network. There will be five more airdrop batches in the coming months.
The last five airdrops will be for existing Hooked Party Pass NFT holder and long-term community contributors. They will happen on the first day of each month.
HOOK price also rose as it rose to the top ranking of the social section of DappRadar rankings of the most active apps.
https://twitter.com/HookedProtocol/status/1603266717282889728
Hook price prediction
The hourly chart shows that the HOOK price has been in a consolidation phase in the past few days. It has been hovering at the important level of $2.0 This price is along the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has risen above the neutral point of 50.
Therefore, Hooked Protocol price will likely drop during the weekend as the enthusiasm of the airdrop fades. If this happens, the token will likely drop to about $1.50.
How to buy Hooked Protocol
Hooked Protocol governance token HOOK, started trading on Binance today. There is access to four trading pairs of HOOK Coin on the platform: HOOK/BTC, HOOK/USDT, HOOK/BUSD, and HOOK/BNB.
Binance is the world’s largest cryptocurrency platform which has an investors section for the new and upcoming blockchains. The new blockchains are highly sensitive and prone to price fluctuations in the crypto market. HOOK was listed on Binance Launchpad via investors section.
The aim of Hooked Protocol is to provide a platform based on play to earn and other gamified concepts.
HOOK Price makes a 20x jump, time to buy?
Within a few hours of trading, HOOK price reached 2 USD which is a 20x increase from the original token price. While the HOOK tokens are used for play to earn games and gas payments, the Hooked Gold Token (HGT) is used for crypto incentives.
The Hooked Protocol was launched following the Launchpad pattern, which was launched by Binance on November 24, this year. A total of 25,000,000 HOOK tokens (5% of the total supply) have been reserved for the Launchpad at a HOOK token sale price of 0.0003381 BNB (roughly $0.1 USD at current market rates). In total, over 110,000 participants pledged over 9,000,000 BNB during the Launchpad subscription period.
As per crypto analyst Muro, this ongoing small dip in HOOK Coin may be a good buying opportunity. He shared his analysis on twitter,
$HOOK up 10% from the dip entry I posted. There’s no chart on Tradingview yet so I made a graphic. If that low at 2.28 holds, I would target $ 3.48 – 3.60 next. Otherwise, I would stop below there for a 5% loss.
Apart from Binance, Hooked protocol also wen tlive on Hotbit and MEXC Exchange platforms today.
What is Hooked Protocol?
Hooked Protocol builds a community social network with an on-chain tokenomics design. Users can learn, earn and enjoy a gamified experience, all within the Hooked ecosystem. The Hooked Protocol will initially run on the BNB chain and later expand to Layer 1 networks.
Hooked Protocol usability is defined by three key pillars: identification, engagement and assignment. The team integrates wallets and decentralized identifiers (DIDs) into the Hooked ecosystem, allowing users to automatically access their Web3 identities.
It also creates “engagement legos” around user acquisition and retention to help builders automate their community interactions. Developers of dApps can build applications on top of these “plug-in” blocks using a plug-and-play approach. Additionally, key user behaviors will be assigned to a specific on-chain identity, allowing ecosystem players to optimize resource allocation and community throughput.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.