Crypto Hotshots 2022 🔥♨️

Twitter Instagram Facebook Facebook Linkedin Youtube Spotify Medium Reddit Telegram
Voice of Crypto
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
    • Sponsored
    • Global Crypto Events
  • Services
    • Content Marketing Services
    • Crypto Influencer Marketing
    • Advertise With Us
  • Know Us
    • About Us
    • VOC Team
    • VOC Vigilantes
    • Brands Who Trust Us
    • Contact Us
  • bitcoinBitcoin(BTC)$27,545.00
  • ethereumEthereum(ETH)$1,757.74
  • tetherTether(USDT)$1.01
  • binancecoinBNB(BNB)$324.75
  • usd-coinUSD Coin(USDC)$1.01
  • rippleXRP(XRP)$0.442612
  • cardanoCardano(ADA)$0.370819
  • dogecoinDogecoin(DOGE)$0.076510
  • staked-etherLido Staked Ether(STETH)$1,751.95
  • matic-networkPolygon(MATIC)$1.11
  • Events
  • Videos
  • Podcast
Voice of CryptoVoice of Crypto
Aa
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
  • Services
  • Know Us
Search
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
    • Sponsored
    • Global Crypto Events
  • Services
    • Content Marketing Services
    • Crypto Influencer Marketing
    • Advertise With Us
  • Know Us
    • About Us
    • VOC Team
    • VOC Vigilantes
    • Brands Who Trust Us
    • Contact Us
Follow US
Copyright © 2023 Voice of Crypto. All Rights Reserved
Voice of Crypto > Analysis > Bulls Alert! Why Are Crypto Whales Buying DYDX, AAVE and MATIC?
AnalysisNews

Bulls Alert! Why Are Crypto Whales Buying DYDX, AAVE and MATIC?

voice of crypto
Last updated: 2023/03/14 at 11:24 AM
voice of crypto Published January 28, 2023 March 14, 2023
Share
VOC, Voice of Crypto, Whales

Key Insights: 

  • AAVE daily chart shows that RSI has fallen back from the oversold zone and is currently trading with an RSI of 65.
  • DYDX charts show that the cryptocurrency is in an overbought zone with RSI above 70.
  • The daily chart of MATIC shows that it can be a good candidate for buying but with strict stop-loss.

 

Contents
Key Insights: Analysis of Whale Activity in DYDX, AAVE, and MATICDYDX Price AnalysisAAVE Price AnalysisMATIC Price Analysis

DYDX, AAVE, and MATIC have seen sharp price rises of 94%, 56%, and 35% within a month. There has been an increased whale activity in these three cryptocurrencies because DYDX postponed its vesting schedule, AAVE is getting ready for its V3 launch, and MATIC has witnessed a spike in transactions after multiple institutional partnerships.

Analysis of Whale Activity in DYDX, AAVE, and MATIC

Crypto data research firm, Santiment has reported an increased whale activity in three cryptocurrencies, namely DYDX, AAVE, and MATIC.

DYDX reported the highest transactions around 21 Jan 2023 and again on 24-25 Jan 2023. AAVE noted higher whale activity between 15-18 Jan 2023. MATIC saw whales buying all over the month of January.

 

Image
DYDX, MATIC, and AAVE Whale Activity| Source: Santiment

Whales are buying more for these fundamental reasons rather than just bullish price action.

DYDX has delayed its vesting schedule. The current tokens in circulation are just 15.6% (156 Million) of the total number of minted tokens(1 Billion). An initial vesting schedule was supposed to unlock another 83 Million tokens, which got delayed till December 2023.

AAVE is ready for its V3 launch. It has also created a past debt of 2.7 Million CRV DAO tokens which it took after the Mango Markets incident. There are 14 Million tokens currently in circulation.

MATIC continues its price journey based on increased institutional partnerships with Disney and Facebook(META).

DYDX Price Analysis

DYDX charts show that the cryptocurrency is in an overbought zone with RSI above 70. However, MACD data shows that there is a further upside move possible. Volume over the last few days also indicates upcoming selling pressure due to profit booking.

TradingView Chart
DYDX Daily Charts as of Jan 27, 2023

Traders can short the cryptocurrency with a view of 2-3 days at the following levels.

Target(SHORT): $2, $1.7

Stoploss: $2.3

AAVE Price Analysis

In the AAVE daily chart, RSI has fallen back from the oversold zone and is currently trading with an RSI of 65. A falling RSI from above 80 to 65 indicates a weakness in price momentum. Further, MACD data shows that a negative crossover is imminent. Therefore, it is also a good candidate for shorting.

TradingView Chart
AAVE Daily Charts as of Jan 27, 2023

Traders can short AAVE at current price levels and follow target and stop-loss below.

Target(SHORT): $80

Stoploss: $89

MATIC Price Analysis

MATIC is a good candidate for long-term investment as well as trading. The daily chart of MATIC shows that it can be a good candidate for buying but with strict stop-loss. MACD data shows positive price action both in daily and 4-hour charts. An RSI of 65 indicates that it is slightly overbought. Finally, the volume also shows positive buying in the last few days.

TradingView Chart
MATIC Daily Charts as of Jan 27, 2023

There is a clear chart pattern of Higher Tops and Higher Bottoms. Further, there is a strong fundamental uptrend in crypto due to the metaverse partnerships with Disney and NFT partnerships with Facebook.

However, only buy MATIC when it crosses $1.12. This multi-month resistance was touched on Nov 10, 2022, and Jan 26, 2022.

Buy at or above $1.12.

Target(LONG): $1.26

Stoploss: $1.12

Disclaimer: Voice of crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.

You Might Also Like

Networkverse: NFT & Web3 & Metaverse – Open Mic & Networking

Assesing the Odds of a Bitcoin (BTC) Price Run to $30K

Aftereffects of Meta Ending NFT Support for Instagram and Facebook

XRP Market Cap Smashes $20B As Ripple vs. SEC Case Stirs News

Dogecoin Whales Make Massive Moves – Where Is DOGE Headed?

TAGGED: Metaverse, NFT
Share this Article
Facebook Twitter Email Copy Link Print
Previous Article VOC, VOice of Crypto, Kimchi Coin Scandal Uncovered: Bithumb Accused with Crypto Price Manipulation Kimchi Coin Scandal Uncovered: Bithumb Accused with Crypto Price Manipulation
Next Article Trish Kane Trish Kane, MBA, and CEO Will Launch 5D Healerverse – A Social Platform Dedicated to Healers, Healing, Technology and the New Earth
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Binance

Follow US

Find US on Socials
Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Subscribe to our Newsletter

Get Newest Articles Instantly!

Ledger
Popular News
Web3 Shorthand
Web3 Shorthand: A Glossary for Crypto Newbies
web3 event London VOC
Networkverse: NFT & Web3 & Metaverse – Open Mic & Networking
Quick-Tips-To-Avoiding-A-Fake-Crypto-Wallet
Quick Tips To Avoiding A Fake Crypto Wallet

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Instagram Facebook Facebook Linkedin Youtube Spotify Medium Reddit Telegram
Voice of Crypto

Voice Of Crypto hits a beat with almost 15 million users, churning out the best news and content in the Web3, crypto and blockchain space

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

  • Advertise With Us
  • About Us
  • Privacy Policy

Copyright © 2023 Voice of Crypto. All Rights Reserved

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?