{"id":179698,"date":"2021-02-16T22:00:00","date_gmt":"2021-02-16T19:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/icon-ravencoin-and-lisk-are-riding-the-bull-wave-on-possible-future-developments\/"},"modified":"2021-02-16T22:00:00","modified_gmt":"2021-02-16T19:00:00","slug":"icon-ravencoin-and-lisk-are-riding-the-bull-wave-on-possible-future-developments","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/icon-ravencoin-and-lisk-are-riding-the-bull-wave-on-possible-future-developments\/","title":{"rendered":"# Icon, Ravencoin and Lisk are riding the bull wave on possible future developments"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a35eff496616\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a35eff496616\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/icon-ravencoin-and-lisk-are-riding-the-bull-wave-on-possible-future-developments\/#ICXUSD\" >ICX\/USD<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/icon-ravencoin-and-lisk-are-riding-the-bull-wave-on-possible-future-developments\/#RVNUSD\" >RVN\/USD<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/icon-ravencoin-and-lisk-are-riding-the-bull-wave-on-possible-future-developments\/#LSKUSD\" >LSK\/USD<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Icon, Ravencoin and Lisk are riding the bull wave on possible future developments <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) created another milestone today when the price breached the $50,000 barrier. Bitcoin has now risen about 1,230% from a low of $3,803.58 on March 13 of last year to a new all-time high at $50,622 today. <\/p>\n<p>This rally has been led by strong institutional demand that is showing no signs of stopping. MicroStrategy meanwhile said it <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/michael_saylor\/status\/1361651387457748995\">plans<\/a> to again raise $600 million through a sale of convertible notes and the proceeds will be used to buy Bitcoin.<\/p>\n<p>While institutional investors continue to buy, Glassnode data suggests that long-term Bitcoin investors are using this rally to book profits. Bitcoin miners who have also been major sellers during the recent bull run have held back in February, which suggests that they are likely expecting even higher levels in the future.<\/p>\n<p>The current crypto rally has been led by Bitcoin, but altcoins are also seeing their own bull run. Let\u2019s study the fundamentals and technicals of three tokens that have made a strong dash to the upside in the past few days.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"ICXUSD\"><\/span>ICX\/USD<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The decentralized finance (DeFi) space has been on a tear for the past few months. So, when a project plans to enter the DeFi world, it is bound to evoke traders\u2019 interest. The Icon (ICX) project is soon expected to take the DeFi plunge with the launch of BalancedDAO. <\/p>\n<p>Another project keenly awaited is the Open money market, which plans to bridge the gap between legacy banking services and DeFi, enabling crypto investors to borrow fiat-backed assets against their crypto holdings.<\/p>\n<p>When the anticipation of upcoming projects increase demand but there is no adequate supply, the price tends to rise. About 58.5% of the ICX circulating supply is staked in the network and with Binance also adding staking support to ICX, the supply could reduce further. <\/p>\n<p>While attractive yields are important, the safety of funds is also a major factor in DeFi. Therefore, Icon has <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lied for K-ISMS certification from the Korea Internet and Security Agency for its ICONFi mobile app that will ensure security and privacy of data. This is likely to increase the confidence of investors in the project.<\/p>\n<p>The upcoming release of Icon 2.0 promises to enhance several core features and redesign some of the current features that are expected to further boost interest and adoption of the protocol. The interoperability feature to support and power cross-chain DeFi solutions will be closely watched by the community. <\/p>\n<p>ICX rallied from $0.6863 on Feb. 1 to $1.9331 today, a 181% rally in just over two weeks. Although the bears had pulled the price down to the 20-day exponential moving average ($1.16) on Feb. 15, the bulls aggressively purchased the dip, resulting in a sharp rebound.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/12ae79e4-46d2-4916-8ded-61f3012823fd.png\"><figcaption style=\"text-align: center;\"><em>ICX\/USDT daily chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/ICXUSDT\/?utm_source=cointelegraph&amp;utm_medium=sponsored&amp;utm_campaign=news&amp;utm_term=btc\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>However, the bears are not willing to give up without a fight. The ICX\/USD pair is again facing stiff resistance just below the $2 level. The first support on the downside is the 38.2% Fibonacci retracement at $1.4568.<\/p>\n<p>If the price rebounds off this support, it will suggest that traders continue to accumulate on minor dips. The bulls will then try to resume the uptrend by pushing the price above $1.9331. If they succeed, the next leg of the up-move to $2.50 is possible.<\/p>\n<p>On the contrary, if the bears sink the price below $1.4568, the pair could fall to the 20-day EMA. This is an important level to keep an eye on because if the price rebounds off this level, it will suggest the uptrend remains intact. But if the level cracks, it will signal a possible change in the trend.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"RVNUSD\"><\/span>RVN\/USD<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>But it is not only upgrades or partnerships that catch traders\u2019 attention. Certain events can sometimes trigger the demand and that seems to have happened with Ravencoin (RVN).<\/p>\n<p>The <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">Game<\/a>Stop saga showed how centralized entities never offer a level playing field to the retail trader and the large players wield their power and get their way. This intensified the discussion and the need for decentralization and Ravencoin was one of the beneficiaries. GameStop stock price topped out on Jan. 28 and RVN started its up-move on Jan. 29.<\/p>\n<p>The protocol allows anyone to tokenize their assets, which can be shares of companies, commodities, art, land deeds, energy credits, fun tokens, and much more. As the world moves towards digitization and decentralization, protocols such as Ravencoin may become an attractive alternative to traditional finance.<\/p>\n<p>During strong bull phases, rumors also boost prices higher. The rumor of a possible Coinbase listing doing rounds in the community forums may also have provided fodder for the rally.<\/p>\n<p>RVN soared from $0.02266 on Feb. 1 to an intraday high at $0.08863 on Feb. 14, a 291% rally in two weeks. The token formed a long-legged Doji candlestick pattern on Feb. 15 and has made an inside day candlestick pattern today. Both of these patterns suggest indecision among the bulls and the bears about the next directional move.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/d9d79c16-8971-4fc7-8442-613037f26eb4.png\"><figcaption style=\"text-align: center;\"><em>RVN\/USD daily chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/RVNUSDT\/?utm_source=cointelegraph&amp;utm_medium=sponsored&amp;utm_campaign=news&amp;utm_term=btc\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>If the price rises from the current levels and breaks above $0.08863, the next leg of the up-move could begin. The bears will then try to stall the uptrend in the $0.10 to $0.104 resistance zone.<\/p>\n<p>However, the relative strength index (RSI) is in the deeply overbought territory, which points to a possible correction or consolidation in the short term. <\/p>\n<p>If the price continues lower, the RVN\/USD pair could drop to the 38.2% Fibonacci retracement level at $0.06057, and if this level also cracks, the next support is at the 20-day EMA ($0.044). Such a deep fall could delay the start of the next leg of the up-move.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"LSKUSD\"><\/span>LSK\/USD<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In a bull market, traders start to discount the future and price in the potential growth. The rally in Lisk (LSK) also seems to be built on the prospects of some important announcements that may trigger growth.<\/p>\n<p>The team at Lisk promises a major upgrade with the launch of Lisk Core 3.0.0 in 2021, which is expected to bring a plethora of improvements to security, stability, technical aspects, scalability, and also reduced fees among others.<\/p>\n<p>Along with this, details on the interoperability solutions are projected to be ready by spring after which the implementation could begin. A new developer program is also planned with lucrative awards that may attract developers to build applications on the platform.<\/p>\n<p>Expectations can flare a rally only to a certain extent. After that, traders will look for results, which will then decide the direction of the token.<\/p>\n<p>LSK surged from $1.2671 on Feb. 1 to an intraday high at $4.70 on Feb. 14, a 270% gain in two weeks. This rally pushed the RSI deep into the overbought territory, which could have triggered profit-booking by traders. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/aa25a94f-e62a-4e6f-b123-2926aa2a4eb7.png\"><figcaption style=\"text-align: center;\"><em>LSK\/USD daily chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/LSKUSDT\/?utm_source=cointelegraph&amp;utm_medium=sponsored&amp;utm_campaign=news&amp;utm_term=btc\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The LSK\/USD pair has broken below the 38.2% Fibonacci retracement level at $3.3886 and the next support is at the 61.8% retracement level at $2.5785. A sharp fall suggests the momentum has broken and it usually delays the start of the next up-move.<\/p>\n<p>If the pair rebounds off $2.25785, it may consolidate in a wide range for a few days before starting the next move. The bulls will have to thrust the price above $4.70 to start the next leg of the uptrend, which has a target objective at $6.2099.<\/p>\n<p>On the other hand, if the bears sink the price below $2.5785, the pair could drop to the 20-day EMA ($2.28).<\/p>\n<p><em>The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.<\/em><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/icon-ravencoin-and-lisk-are-riding-the-bull-wave-on-possible-future-developments\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Icon, Ravencoin and Lisk are riding the bull wave on possible future developments &#8221; Bitcoin (BTC) created another milestone today when the price breached the $50,000 barrier. Bitcoin has now risen about 1,230% from a low of $3,803.58 on March 13 of last year to a new all-time high at $50,622 today. This rally&#8230;<\/p>\n","protected":false},"author":1,"featured_media":179699,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvYTFlNDU2MDktMzVlYy00NTBlLWFiNDctM2Y5MWVjMGFmMTFiLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74863,74939,75164,73785],"class_list":["post-179698","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-cryptocurrencies","tag-market-analysis","tag-price-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/179698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=179698"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/179698\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/179699"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=179698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=179698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=179698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}