Uncategorized – Midas.Investments. Crypto investment company blog.

Bitcoin Price Analysis

admin — Tue, 11 Oct 2022 15:42:26 +0000

Last week we said:

BTC looks neutral on the 4H and Daily, and seems to have bottomed on the weekly chart. Markets seem to have effectively priced in the bad news that seems to come in daily – apart from any black swan events. With investor sentiment remaining extremely fearful, I expect BTC to continue ranging sideways in the $18 to $20k range for now.

BTC briefly broke the $20k mark last week but was quickly rejected and sent back to $19k where it is trading now. This confirms our analysis from last week that BTC would continue trading in this narrow range. With global markets continuing to grind lower – will BTC hold strong in this range?

Let’s take a look at the charts and find out.

Bitcoin Price Analysis

4H moving averages remain in a neutral configuration, with the 50SMA trading between the 100 and 200. The closest MA is the 100, which will act as resistance, priced at $19.5k. BTC rejected off this earlier this week, confirming the resistance.

BTC is currently sitting at local support just above $19k.

On the 4H chart, BTC looks to be oversold and should be bouncing soon. The $19k support can hold for now, perhaps with some short wicks lower. Below this, the previous support of $18.5k could be tested.

Daily moving averages are back to a bearish configuration. The 50SMA is now sitting just below the $20k mark and will cement resistance below this key psychological level. The 200SMA is major reversal resistance at $27k. Breaking this level will confirm a bull market.

Daily RSI is neutral but Stochastic has reached oversold levels, indicating that consolidation and/or a bounce upward is likely from here. This is why BTC may hold above $19k, and certainly above the $18.5k level if we experience a cascading liquidation to that level. Bottom support is at the $17.6k level set in June.

The weekly RSI is oversold and at historically low levels, but Stochastic is uncomfortably close to overbought. In this case, the most likely scenario is that BTC continues to move sideways in the range that has been established over the past few months. Doing so will allow the Stochastic to reset over the coming months and clear headway for a move upward.

BTC continues to trade below the weekly 200SMA, which has now risen to $23.6k. This will act as yet another important resistance level.

Bitcoin Investor Sentiment

The extreme fear sentiment continues as BTC moves in the crab market. As usual, extreme fear is a good time to accumulate, and extreme greed is a good time to distribute.

Bitcoin Fundamental Analysis

Bitcoin’s total network hash has continued to grind higher and is currently at an all time high. While this is good for network growth and security, higher hash means lower profits for miners as long as the price stays low. This puts stress on miners, as confirmed by glassnode data:

Glassnode reports that miners have accumulated ~79k of BTC in their treasuries. If BTC dips below the cost of production – currently around $18k – it could place miners in a state of distress and force them to capitulate a portion of their holdings. This will be an important level to watch if BTC breaks down to lower supports.

Conclusion

BTC looks oversold on the 4H and Daily, but is poised to continue consolidating on the weekly chart. With CPI numbers coming in this Thursday, we expect heightened volatility this week. The $19k zone should hold, possibly with wicks, but if this fails $18.5k support can hold.

Support Zones:

$19k
$18.5k
$17.6k

Resistance Zones

$19.9k
$23.6k
$27k

Not investment advice. Do your own research.

The post Bitcoin Price Analysis appeared first on Midas.Investments. Crypto investment company blog..

Bitcoin Price Analysis

admin — Mon, 26 Sep 2022 22:32:35 +0000

Blog — Uncategorized

Last week in Bitcoin Price Analysis we said:

BTC is oversold on the 4H chart, but the daily and weekly charts are looking grim. With the FOMC meeting looming and persistent inflation, macroeconomic headwinds continue to buffet BTC and other risk markets. BTC seems to have found local support around the $18.5k zone, but further consolidation and/or grinding lower is the most likely scenario for the medium term.

BTC did make a lower low at $18.1k on Sep 22nd after the FOMC announced an additional 75bp hike to the United States interest rate. Following that low, BTC bounced back to $19.5k, and has since held our identified support of $18.5k. Currently, BTC is trading at $19.2k and continues to range and consolidate.

So what comes next for BTC? Let’s take a look at the charts and find out.

4H moving averages remain in a bearish configuration, but there is actually some bullish divergence as the price has broken above the 50SMA. This level will act as a key local support now, priced at $19k. BTC faces its next test at the $20k mark, which is a key psychological price zone as well as the 4h 200 SMA. If BTC reclaims $20k, it will have also regained some bullish momentum that could take it higher in the medium term.

4H momentum indicators are trending upward and have not yet reached an overbought zone – raising the likelihood that BTC tests the $20k resistance in the coming days.

BTC faces its next test at the daily 50 and 100 SMA, which are both priced around the $21k mark. If BTC manages to break the $20k 4H resistance, it will likely range between there and $21k as it regains momentum. Long term resistance at the daily 200SMA is priced at $28.6k. Breaking this key level would signal the start of a new bull market.

Last week’s consolidation comes after BTC hits an oversold point on daily momentum indicators. The RSI has been trending bearish for weeks, and Stochastic bottomed out. We can see a rising bottom on the RSI – a bullish divergence. I expect BTC to consolidate and grind upward in the coming days and weeks.

Long term momentum indicators paint an interesting picture. The Stochastic has been nearing an overbought point for the past two months, but RSI has been making higher lows – a clear sign of bullish divergence. We could see a sharp move upward in the coming weeks as the Stochastic has not yet reached its extreme overbought point – but rather continues to consolidate in this range.

BTC has been consolidating beneath the weekly 200SMA for the past month – the first time in its history. If BTC successfully recliams the 200w SMA, priced at $23.5k, it will regain bullish momentum and likely test the $28k resistance zone we identified on the daily chart.

Bitcoin Investor Sentiment

Investor sentiment remains extremely fearful. This indicates that most of the FUD is priced in, and that markets have largely taken account of the global recession that is beginning to be felt around the world.

Bitcoin Fundamental Analysis

Glassnode data shows that BTC holders have not given up or lost conviction. Coin days destroyed – an indicator that measures holders’ capitulation – has reached an all time low. This means coins are more dormant than they have ever been.

It’s worth noting that all previous examples of CDD being this high were after bear market bottoms were formed. This was the case in 2011, 2015, and 2019. Could this be another signal that the market bottom is already in?

Conclusion

Bullish divergence on the 4H and Daily charts are a glimmer of hope for BTC. Investor sentiment remains extremely fearful, and fundamentals remain strong for BTC. It seems likely that BTC will continue grinding upward – with periods of consolidation – for the next few weeks. A break above $20k would likely send BTC up to retest the 200w SMA at $23k, which would be a key level to watch.

Support Zones:

$19k (local)
$18.5k (local)
$17.6k (previous bottom)

Resistance Zones

$20k (local, psychological)
$21k
$23.5k
$28k

Not investment advice. Do your own research.

The post Bitcoin Price Analysis appeared first on Midas.Investments. Crypto investment company blog..

Fantom FTM Price Analysis

admin — Fri, 12 Aug 2022 13:48:52 +0000

This article is the latest installment in our series analyzing top altcoins listed on Midas.Investments platform. Today we will look at FTM – the token for the Fantom blockchain. FTM is currently trading at $.39 with a market cap of just over $1 Billion and is ranked #58 on CoinGecko. FTM has taken a beating over recent months as the crypto market has retracted, falling over 90% from its all time high of $3.46. After finding a local bottom at $.20 back in June, FTM has posted nearly a 100% gain. Will this recovery continue, or is FTM destined to retrace further?

Let’s take a look at the charts and find out.

Fantom FTM Price Analysis

First, we start with the 4H candle chart to get an idea of near-term price movements. Looking at our 50, 100 and 200 moving averages, we can see that these are in a bullish configuration (50 > 100 > 200 SMA). The price has also repeatedly tested the 100 SMA, which has held as support on the last two attempts. This support level is currently sitting at just over $.35.

Next we look at momentum indicators – the RSI and Stochastic – to determine how likely FTM is to continue its current trend. The RSI is sitting just above neutral, and is not currently overbought. The Stochastic is also in neutral territory, but is in a downward trajectory, suggesting that consolidation in the near term is the most likely. By near term, we mean the next 4-7 days.

Next, we pivot to our daily candle chart to assess FTM’s market for the medium term. By this, we generally are looking at the next 1-4 weeks. As you can see in the chart above, following a severe selloff in the month of May, the market has found a footing and has begun a slow upward grind. The moving averages are in a bearish configuration, but the price has successfully broken above the 50 and 100 SMA’s. The 50 SMA is actually beginning a slight upward trajectory and is poised to cross the 100 in the next couple of weeks. Over the past two days, FTM has tested and held the 100 SMA as support, currently valued at $.34. This is convergent with the support we saw on the 4H chart, forming a support zone near $.34-.35. The nearest resistance is around the $.60 mark, which was a major consolidation zone approximately one year ago. Above this, the daily 200 SMA will act as resistance at $.93.

Daily momentum indicators also are showing bullish exhaustion, as the RSI is near oversold and Stochastic appears to have found a top. This means that a period of consolidation is needed in the medium term before further recovery is possible.

On the weekly, the 100 SMA will act as resistance at $.81. Flipping this level and holding it as support will be key to FTM resuming any major bull run. RSI is closer to oversold, and Stochastic is still trending upward – meaning that FTM has bullish momentum in the long-term as it recovers.

Fantom FTM Fundamental Analysis

There is a major correlation between search engine volume and the price of FTM. Bittsanalytics aggregates this data into an easy-to-read chart:

When FTM search volume hit an all time high in early 2022, FTM token was also printing an all time high price. In recent months, search volume has decreased to 2021 levels – and so has the price. As FTM begins gaining more attention, the price will follow.

The TVL of the Fantom network shows us how active the chain is, which should also be an indicator of interest in the network. Strong financial incentives drive on-chain value. FTM’s TVL has fallen significantly from nearly $8 billion to approximately 660 million, mimicking FTM’s 90% drop in value. TVL has stabilized at these levels, similar to what we saw in 2021.

Conclusion

FTM has begun to make a recovery after bottoming around $.20 in June. Search engine volume and on-chain TVL have also appeared to find a bottom near levels last seen in 2021. In the near term, the 4H chart looks strong with bullish moving averages and rising support levels. Medium term, FTM is posting bullish divergences but may need time to gather momentum and consolidate before continuing. The weekly looks heavily oversold, and the change in momentum from bearish to bullish is signaled by a rising RSI and the leading Stochastic indicator.

Support Zones:

$0.34-$0.35

Resistance Zones

$0.6
$0.81
$0.93

Not investment advice. Do your own research.

The post Fantom FTM Price Analysis appeared first on Midas.Investments. Crypto investment company blog..

Bitcoin Price Analysis

admin — Mon, 08 Aug 2022 17:15:41 +0000

Blog — Uncategorized

Last week in Bitcoin Price Analysis we said:

BTC looks bullish on the 4H, neutral / consolidating on the daily (with bullish divergence), and bullish on the weekly – pending a strong weekly close above the 200SMA. Despite the strong TA indicators, black swan events and weakening fundamentals could send markets reeling back to support zones. It will be an important week for the globe, markets, and BTC. Trade with extra caution during this time of indecision.

Last week BTC retraced to the 200 week SMA, which held nicely as support – sending markets on a bullish bounce. Currently, BTC is back above the $24k mark and is regaining bullish momentum.

Let’s take a look at the charts this week and see if we can predict BTC’s next move.

Bitcoin Price Analysis

BTC’s moving averages on the short-term 4H chart remain in a bullish configuration. Last week’s price retrace took BTC to the 100 SMA, which acted as support. This level will continue to act as support and is currently priced at $22.9k. The 200SMA will also act as support at $22.1k.

Momentum indicators are signaling overbought on the 4H chart. This means we could see a pullback and/or a period of consolidation at the $24k mark before higher resistance levels can be broken. The local resistance is at $24.6k, which was the prior top just over a week ago.

Moving averages are in a bearish configuration on the daily chart, but there is clear bullish divergence as the price has broken the 50SMA and is moving up to test the 100 SMA. The 100 SMA will act as resistance, currently priced at $25.6k, while the 50 will act as support at $21.6k. You can see in the chart above that the 50 SMA is starting to incline upward.

Daily momentum is neutral, and shows upward pressure. It is likely that this move will take us at least to the 100 SMA at $25.6k before becoming overbought. It could take several days to get to this level given what we are seeing on the 4H chart.

On the weekly, BTC has successfully held the 200 SMA as support – a major achievement that will likely send the market up. The 200 SMA will act as strong support moving forward, priced just beneath $23k. RSI and Stochastic are still moving up, and are not yet overbought. The next major resistance on the weekly is at the $28-30k zone.

Bitcoin Investor Sentiment

Investors remain fearful despite upward market momentum, likely due to the lingering black swan potential thanks to geopolitical tensions and fears of a lengthy global recession.

Bitcoin Fundamental Analysis

Glassnode reported in their new weekly on-chain analysis that futures volume shows that BTC markets are stabilizing following the Luna collapse. While futures and options pricing does not show a strong bullish bias yet, it does show that investors are willing to take on moderate amounts of price exposure. Markets are now showing negligible bias in either bullish or bearish directions.

Conclusion

The 4H chart looks primed for a pullback or consolidation, while the daily and weekly look bullish. Investor sentiment remains fearful, which is slightly bullish, and fundamentals are neutral. This sets the stage for a neutral / bullish tilt in the short term, while retaining bullish biases in the long term. BTC holding above the 200 weekly SMA is very bullish, and suggests that the worst is over.

Support Zones:

$23k (weekly 200 SMA)
$22.1k
$21.6k

Resistance Zones

$24.6k
$25.6k
$28-30k

Not investment advice. Do your own research.

The post Bitcoin Price Analysis appeared first on Midas.Investments. Crypto investment company blog..

Ethereum Price Analysis

admin — Fri, 22 Jul 2022 22:00:00 +0000

Blog — Uncategorized

Last week in Ethereum Price analysis we said:

Ethereum has broken above the 4H 200SMA for the first time in months, and is finally showing some signs of life and resiliency despite difficult market conditions. With the merge date officially set, the worst could be over for ETH. The stage is being set for a late summer / early fall bull run or major relief rally, which coincides with the merge date news. When bullish catalysts and signals converge, the likelihood is high for positive price movement.

Our conclusion that the worst was over for ETH and that positive price movement was coming has proven to be true. Over the past week, ETH has risen over 33% and surpassed the $1600 mark, breaking several resistance zones along the way. As ETH continues to gain strength, the $2k resistance is in its sights. But will the bullish momentum carry ETH to this key level?

Let’s take a look at the charts.

Ethereum Price Analysis

On the 4H chart, the moving averages have completed a golden cross. This is when the 50 SMA > 100 SMA > 200 SMA. It’s also referred to as the “alligator” indicator, which is bullish when the “mouth” is open upward.

On the low time frame view, the RSI is slightly overbought and Stochastic has not yet reached the top of its zone. This means there is more room for ETH to run before needing to consolidate. If BTC moves back up to the $24k zone, I expect ETH will move up with it. There is local resistance at $1750, which is a previous consolidation zone from several weeks back.

On the daily chart, ETH has finally broken above the 50SMA, which will now act as support at $1300. The price is moving up to test the 100 SMA resistance, currently priced at around $1900. Note that from this time frame, the moving averages are still in a bearish configuration – but there is bullish divergence.

On the daily, ETH looks ready for a break. The RSI is touching the overbought zone, and Stochastic is at the top of its range. From this perspective, ETH looks likely to touch $1.7k resistance and then continue consolidating fro a few days to regain strength.

The weekly continues to look very strong. RSI and Stochastic are both bouncing upward after a record downtrend. Three green candles in a row appear to be the beginnings of a major relief rally. It’s also important to note that ETH has finally broken above its weekly 200 SMA, located at $1.2k. In the past four cycles, the weekly 200 SMA has been a bottom indicator. Though its early, that also appears to be the case in this cycle. The closest resistance on the weekly is the 100 SMA at $2.25k.

Ethereum Investor Sentiment

The market is bouncing and investors are feeling the relief. The extreme fear has subsided, and sentiment has now edged into “neutral” territory.

Ethereum Fundamental Analysis

Though the market appears to be bottoming and sentiment reversing, fundamentals have not yet picked up. Eth network usage remains low, and fees have only burned ~17% of emissions over the past week. This value is consistent with the lows we have seen throughout the bear market. Ethereum does, however, appear to be leading the market recovery as the merge is the leading narrative in crypto right now. With the tentative date of September 19 less than two months away, we could see this narrative continue to drive market recovery through the end of the summer.

Conclusion

ETH looks bullish on the 4H and Weekly, but set for consolidation on the daily. ETH looks incredibly strong in the long term, as bullish TA and a market-leading narrative set the stage for a strong market recovery. We could, however, see a pullback in the medium term – to confirm support zones and shake out overconfident longs.

Support Zones:

$1.2k (weekly 200 SMA)
$1.4k (4H 50SMA)

Resistance Zones

$1.7k (local)
$1.9k
$2.25k (major)

Not investment advice. Do your own research.

The post Ethereum Price Analysis appeared first on Midas.Investments. Crypto investment company blog..

What is the difference between APR, APY and MIDAS Boost?

admin — Wed, 06 Jul 2022 11:06:21 +0000

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In the finance world, maybe even more than in some other industries, terminology means much. Terminology can be the difference between one concept and a completely different one, and sometimes terms that are close in structure can be on completely different ends of the spectrum. That certainly can be seen as the case with the terms APY and APR in the cryptocurrency industry in specific. Midas crypto investments platform gives breakdowns in each of its fixed assets like Bitcoin (BTC), Ethereum (ETH) and all others.

Simple Interest Rate and APR

APR is one concept that is used to describe the interest which can be expected on any crypto investment on an annual basis. The term APR itself stands for Annual Percentage Rate. It is an easier term to comprehend between APR and APY because APR is simple. It refers to the basic annual rate of return paid in interest. Annual Percentage Rate is used on many traditional crypto investments platforms, while APY refers to something altogether different.

APY and Compound Interest on crypto

APY describes a compounded interest rate over the course of the year. Compound interest is essentially interest compounded on top of the interest as it is generated. APY is short for Annual Percentage Yield, which describes that compounding effect. Essentially APY will be higher at the end of the year if the same percentage is attributed to APY and APR. For example, if APY is 10% and APR is 10% on 10,000 BUSD. At the end of the year the 10,000 BUSD would be 11,000 in the APR scenario, and 11,050.65 in the APY.

There are several online APY and APR calculators which automatically do the calculations for individuals. APY can be generated in different terms. Some scenarios call for annual compounded interest, some quarterly, monthly, weekly, and in the case of Midas.Investments, daily generated and distributed interest. Midas also offers another incentive, which comes in the form of an even higher annual percentage yield.

Midas Boost Generates Higher Percentage Yields for Investors

Midas Boost adds additional points to the already highly competitive APYs offered to investors on the crypto investments platform. While it is subject to change at any point, the current APY boost on Midas single asset crypto staking is + .2 x the existing APY of the cryptocurrency asset. The difference in the Midas Boost mechanism is that all generated yields are distributed in $MIDAS cryptocurrency tokens, the digital asset native to Midas.Investments platform.

Midas further compounds potential rewards by offering an extremely competitive 27.4% APY currently on staked $MIDAS, so essentially boosted APY can benefit investors in multiple ways as a compounding strategy to compound underlying assets and then deposit $MIDAS received in the Midas Boost program for a further compounding strategy. Midas Boost gives investors on the evolving hybrid CeDeFi platform, opportunities to gain in multiple ways, unlike traditional Centralized Finance platforms alone, and without the overly complex Decentralized Finance protocols and interfaces.

Comparing the Different Interest Strategies

Now that APR, APY and Midas Boost have been explained and clearly distinguished, taking a deeper look at the differences between the terms and interest-bearing equations. APR, the simplest of all 3 mathematically, refers to flat interest rates distributed to investors typically per annum, just as explained. Compared to the others, APY and Midas Boost APY, APR produces the lowest interest yield, since interest is not compounded upon, only the principle.

In the APY scenario, the compounding effect of generated interest is what makes the model superior. As interest is gained, it is added to the total amount which interest is calculated from, making it an investment mechanism that pays more than the simpler APR model. APY yields are paid daily on Midas, and therefore are even greater, due to the daily compounding effect.

Midas Boost APY would then have to take the cake so to say, as the top choice of the three, since Midas Boost enhances the already greater yields generated in the APY schedule. Midas Boost is a point of interest for any new or experienced crypto or otherwise hybrid investor. The interest generated in Midas Boost, which again, can be compounded by staking the $MIDAS token further as described above, is well beyond the typical interest rates on other crypto investments platforms and digital cryptocurrency asset managers. This creates a draw and inquisitiveness naturally just by virtue of the higher published APYs. The days of flat, less attractive interest rates in crypto are fading away, as newer protocols and ecosystems with advanced investment strategies are becoming more common to today’s savvy investors. APR, APY and Midas Boost would have been a much more difficult distinction to make some time ago when members of the public were less enlightened about what the mechanisms in cryptocurrency actually did and how they operated. Now with crypto and Google search, these terms and so much more in blockchain technology and the crypto space are becoming far less complex for retail investors to understand and partake in.

With Midas.Investments APY and Boosted APY Investors Can Earn Daily

In closing, since the clear distinction between the three has been made, a clear case for the Midas.Investments platform exists. Midas offers the highest rates on staked fixed assets amongst all contemporary crypto investments platforms. Midas investors earn interest on Bitcoin and other major crypto coins such as Ethereum, BNB, AVAX, Fantom, and the top three stablecoins – USD Tether, USDC, and BUSD, to name a few of the 23 assets currently in Midas.Investments. The already elevated APYs bring in enough interested investors, while Midas Boost elevates the compounding effect even more.

If this wasn’t enough, recalling that difference between the frequency of APY calculations, Midas.Investments generates and distributes yields every single day to investors. This is another attractive feature which adds to the case for Midas Investments being a go-to in the crypto investments sphere.

The post What is the difference between APR, APY and MIDAS Boost? appeared first on Midas.Investments. Crypto investment company blog..

Bitcoin Price Analysis

admin — Mon, 27 Jun 2022 15:14:59 +0000

Blog — Uncategorized

Last week in Bitcoin Price Analysis we said:

BTC has reclaimed its previous ATH of $20k, and has bounced from $18k levels to form new local support. While we may see a slowdown in the short term (as indicated on the 4H chart), the daily and weekly charts look absolutely primed for a relief rally. In all likelihood, this relief rally will take BTC past the weekly 200SMA – a bullish signal for traders and algos alike. Barring additional black swan events, I expect BTC to bounce and consolidate, rather than continue to dump in the mid-term. With euphoric bearish sentiment, it seems to be a good time to begin DCA’ing into new long positions.

Our prediction for a slowdown in the short-term has proven accurate, as BTC consolidated all of this past week below the $22k mark. However, we are still waiting on the relief rally that charts indicated is overdue. Today BTC is retracing slightly, trading at $20.7k and continuing the consolidation. Let’s take a look at the charts and see if we can predict BTC’s next move.

Bitcoin Price Analysis

On the 4H chart, we can see BTC is testing support at the 4H 50SMA. This price level is at $20.7k. If this line holds, it will be bullish for BTC in the short term. Local resistance is at the 4H 100SMA – priced at $21.8k. The support and resistance are converging in a tightening range, signaling a breakout in either direction in the coming days.

The RSI has dipped below neutral but is still not oversold, however, the Stochastic has reached the bottom of its range. While not a strong signal, it does show that it is likely that support at $20k holds.

The daily moving averages do not show anything new – BTC is still well below the nearest 50SMA, priced at $27.1k. This line will act as resistance once BTC finally tests it. The RSI on the daily time frame is oversold, but stochastic is overextended. These signals cancel out. On the daily, BTC looks neutral or slightly bearish.

On the weekly, BTC appears to be at very strong support. Last week’s candle closed just underneath the 200SMA, which will be a key test. The RSI is heavily oversold and Stochastic has been at rock bottom for weeks. Any bullish catalyst at all should send BTC rocketing upward in a longer time frame. Bearish macro fundamentals are holding BTC in place – for now.

Bitcoin Investor Sentiment

Extreme fear persists in all markets, but crypto especially. This negative sentiment shows that BTC is at least in the range of a bottom.

Bitcoin Fundamental Analysis

Glassnode published an analysis this past week showing that this BTC bear is one of the most significant in history. With the price falling below BTC’s realized value, the Mayer multiple trading at historic lows, and the price dipping to the weekly 200SMA, the bottom could be in. However, a pessimistic outlook could see BTC dip as low as $13k.

Some global macro analysts have been calling a commodity bear market, saying that energy prices are overdue for a price correction. Oil, copper and natural gas prices have all begun to correct – with oil falling from $120+ per barrel to $106, Natural gas falling from $9 to $6/MMTbu, and copper falling into a bear market. Lower energy prices will help ease inflationary pressures, which should improve the overall global macro. This will in turn lead risk-on assets to rally. Keep an eye on energy prices.

Conclusion

BTC looks neutral on the 4H and Daily, but heavily oversold on the weekly. Any bullish catalyst should send BTC on a massive relief rally. According to Glassnode data, BTC is currently trading at a major recovery zone and should have significant support in the newly established $17-20k range. Resistance is nearby at $22k. Improving global macro thanks to sliding energy prices could be the catalyst BTC needs to finally rally. TBD.

Support Zones:

$17.5k (range)
$20k
$20.7k (4H 50SMA)

Resistance Zones

$21.8k
$27.1k

Not investment advice. Do your own research.

The post Bitcoin Price Analysis appeared first on Midas.Investments. Crypto investment company blog..

Ethereum Price Analysis

admin — Fri, 24 Jun 2022 14:49:18 +0000

Blog — Uncategorized

After finding a bottom near $900 last week, Ethereum has been on a run, rising over 30% this week from its lows to reclaim the $1200 mark. ETH is the top alt-coin, and as such is generally the lead indicator for what the rest of the alt-coin market is doing. With ETH significantly out-performing BTC this past week, other alts have gone on runs too: SOL is up 35%, BNB is up 14.3%, and MATIC is up over 50%!

Let’s take a look at the charts and see what comes next for ETH.

Ethereum Price Analysis

On the low-timeframe 4H chart, ETH has finally broken above the 50SMA – the first key to establishing a new trend. The 50SMA is located at $1.1k, and will now act as support upon any retrace. Next up is the 4H 100 SMA resistance – currently just under $1.3k. I do not expect this resistance to break upon first test.

On this move up, ETH is becoming overbought. The RSI is getting to close to 70 which is the traditional “overbought” signal, and the Stochastic is at 100. This means that, on our short time frame, ETH is likely going to run out of gas at resistance and will need to retrace or consolidate before making further gains.

On the daily candle chart, ETH is still significantly below all its moving averages. The nearest is the 50SMA, trading at over $1.7k. This is another key resistance level to watch and was previously a consolidation zone for ETH before last week’s dump. A sustained uptrend over the next week could bring ETH back to this key zone.

Daily momentum indicators look indecisive, as the RSI is just exiting the “oversold” phase, but Stochastic is entering “overbought” phase. The Stochastic tends to move to the extreme ends of its range, and has some room to continue, so this has a slightly bullish tilt. In light of the required consolidation on the 4H, I expect some consolidation here too before moving up.

On our long-timeframe-view, ETH looks heavily oversold and ready for a move up. Closing a green candle this week (the first in months) could give ETH the fuel it needs to break out of its slump. Key resistance on this time-frame will be the $2.5k zone, which was the most recent area of consolidation earlier this year.

Ethereum Investor Sentiment

Ethereum investors are feeling the fear as ETH’s price retraces to levels not seen in years. Generally speaking, extremely fearful levels are usually overblown and occur when FUD is at its peak. Such times are good to begin averaging into new positions.

Ethereum Fundamental Analysis

ETH’s future will be dictated by the success or failure of the Merge – the network’s transition to Proof of Stake. This transition will have a “triple halvening” effect, reducing emissions by 90% and locking new rewards for 6 months. Even at ETH’s current relatively low level of network usage, ETH would still be deflationary as network fees are burned. Over the past 7 days, ETH has burned 25% of emissions (according to watchtheburn.com).

BanklessTimes reported an update this week on the Merge’s timetable, confirming it for this August. More can be read here.

Conclusion

ETH’s fundamentals have bottomed, the merge is coming, and on large-timeframes, the asset is extremely oversold. On the 4H and Daily, some consolidation may be necessary, but in the mid-to-long term, ETH may perform quite well.

Support Zones:

$1.1k
$900

Resistance Zones

$1.3k
$1.7k

Not investment advice. Do your own research.

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MIDAS – FTM Vault on Beefy Finance

admin — Wed, 01 Jun 2022 09:12:22 +0000

We’re excited to announce that the MIDAS-FTM pool on SpiritSwap has been added by Beefy Finance to their active vaults!

You can find the Midas vaults on Beefy Finance at the following link: https://app.beefy.finance/

What is Beefy Finance?

Beefy Finance is a Decentralized, Multi-Chain Yield Optimizer platform that allows its users to earn compound interest on their crypto holdings. It is one of the leading vault protocols connected to multiple chains, including Fantom Opera Network.

Through a set of investment strategies secured and enforced by smart contracts, Beefy Finance automatically maximizes the user rewards from various liquidity pools (LPs),‌ ‌automated market making (AMM) projects,‌ ‌and‌ ‌other yield‌ farming ‌opportunities in the DeFi ecosystem.

What are the Beefy Finance Vaults and how do they work?

Beefy Finance employs automated strategies aimed to optimize yields from liquidity pools by compounding yield farm reward tokens back into your initially deposited asset. This provides a huge advantage over attempting to do this manually, saving on personal time and transaction fees, as well as manual errors.

For this example: Beefy automatically harvests and sells SPIRIT token to buy more MIDAS and FTM and reinvest them in the pool. This results in a higher yield: without compounding, LPs are earning around 40% APR vs approx. 54% APY on Beefy Finance vault.

More information about Beefy’s vaults here.

About MIDAS

MIDAS is a custodial crypto-investment platform for staking core crypto assets and DeFi markets. Midas.Investments have the long-term vision of providing users with a stable and profitable passive income source that would help them earn one of the highest yields on major cryptocurrencies such as BTC, ETH, and USDT.

The post MIDAS – FTM Vault on Beefy Finance appeared first on Midas.Investments. Crypto investment company blog..

Ethereum Price Analysis

admin — Fri, 20 May 2022 16:08:55 +0000

In our last Ethereum Price Analysis we said:

ETH looks bearish on all time frames, with a slight bounce or consolidation likely on the 4H chart. Daily and weekly look very bearish, and a retrace to lower support levels is likely in the coming weeks. This is in line with BTC and other traditional markets, which have all been suffering as the world attempts to rein in spiraling inflation. These next few months will likely be painful, but will present good buying opportunities along the way.

Keep in mind, our last ETH analysis was on May 6 when ETH was trading at around $2.7k. Since that time, ETH has traded down to a low of $1.7k, and is now consolidating around the $2k mark, proving our bearish prediction correct.

Let’s take a look at the charts for this week.

Ethereum Price Analysis

On our 4H chart, ETH’s price is testing the 50 SMA. So far, ETH has held above the 50 SMA for a few candles. If this level holds, the 50 SMA could act as a local support level – currently just over $2k. This would be the first sign of a short-term reversal / bounce. Resistance is expected at the 100 SMA – currently at $2.3k.

The RSI and Stochastic reveal a hidden bearish bias, as the RSI is slightly above neutral but Stochastic is showing signs of a soon reversal. A reversal here would take us back to lower support, near $1.8k.

Our daily moving averages are significantly above the price. A bounce on this timeframe would take us up to the 50 SMA, currently around $2.8k, which would act as resistance. Usually when the price is this far below the moving averages, a reversion to the mean is probable. Looking back at our chart, we can see that this is exactly what happened in the January of this year.

The daily RSI is about as oversold as it gets, and a move up in the Stochastic signals that a reversion to the mean is likely. In the mid-term, we are likely to see a bounce to the high $2k’s to test resistance.

The long-term weekly chart looks like a bottom will be found soon. RSI is nearing historic oversold levels, and the Stochastic appears to be bottoming out. We may have a couple weeks of consolidation and chop before a new uptrend is established. Be on the look out.

Ethereum Investor Sentiment

The ETH FGI is reading “fear” when the overall crypto FGI is in “extreme fear” and has been for weeks. This suggests that ETH maxi’s have not yet fully capitulated and may be in for more short-term pain before reversing.

Ethereum Fundamental Analysis

Fundamentally for Ethereum, not much has changed. Network usage has bottomed out, with transactions burning roughly 20% of ETH emissions.

Trent.Eth tweeted this week that the Merge is coming, inviting the community to an overview call of testnet upgrades on Friday, June 3. This leads many to believe that the much-anticipated Merge and move to Proof of Stake is on schedule for release this summer. In addition to moving the network to a Proof of Stake infrastructure, the Merge will reduce ETH network emissions by 90%, making the network deflationary even at its current level of usage. The fundamental shift in tokenomics is likely to create a sell-side liquidity crisis, sending the price of ETH up. It is also possible that it will be a “sell the news” event, and lead to a market dump of ETH in the short term, followed by a long-term fundamental driven bull run.

Conclusion

ETH looks bearish on the 4H, but bullish on the Daily and Weekly in the mid-term. This suggests short-term pain followed by long-term gain, reinforced by fearful (but not extremely fearful) investor sentiment. Fundamentally, ETH has bottomed – but the Merge could be a catalyst that sends ETH off on its next bull run in the coming months.

Support Zones:

$2k (local)
$1.7-1.8k (range bottom)
$1.1k

Resistance Zones

$2.3k (4h 100SMA)
2.8k (1D 50SMA)

Not investment advice. Do your own research.

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