The JUNO price is likely to be on a bullish rally in the near-term trading session

As there are more buyers than sellers at the moment and the RSI indicates that prices are at a strong level of support. In addition, the MACD line indicates that prices will rise further as opposed to weaken. These factors indicate that it is time for investors to acquire more Juno coins before they could start falling. On the other hand, there is a possibility that prices could be on a sideways trend in the near future due to the fact that sellers are in control as opposed to buyers. This could cause a further consolidation of prices before they could fall again. However, it is more likely that if this happens, prices could rise above $1 until investors buy more coins at lower levels and drive them to higher levels of stability.

Nevertheless, if the JUNO price continues its Bearish Trend, it will most likely fall below $1 by next month before it could pick up gradually in 2019. The JUNO coin has been in a bearish trend since mid-December last year, as it has been trading lower than the highs of November. However, there is a possibility that prices might be on a bullish rally in the short-term as indicated by the RSI and MACD lines. The buyers are likely to be in control of the market as indicated by the RSI that is situated at 53 while it indicates overbought conditions with its value at 75. In addition, the MACD line has crossed above the signal line which indicates a bullish rally in prices before they fall again.

What is JUNO?

The JUNO cryptocurrency is a payment system that operates on the Ethereum network. It can be used as an asset as well as a currency for payments. One of its major uses is buying and selling virtual items, also known as in-game assets or items which are only available through the JUNO blockchain. It has partnered with a mobile payments application known as Bellhop.

The name of the platform is an acronym for: Justified Unified Network OF Nodes. The platform works in a manner similar to that of the VISA credit card payment system in that it handles transactions between different parties using its native token JUNO. JUNO also refers to an individual on the Ethereum blockchain ledger who owns one or more JUNO coins and uses them to pay for goods and services, buy or sell virtual goods or even transfer them to another individual on the network.

Juno’s utility and governance token

The platform uses both Ethereum smart contracts and cryptocurrency tokens to provide users with a decentralized service that can be used to buy items and participate in any activity available on the blockchain. In addition, JUNO has its own utility token which is used to reward the nodes in the network. It is based on a Proof-of-Authority mechanism that makes use of 27 notaries. These nodes are responsible for verifying all transactions on the network to prevent double spends as well as other malicious activities without impeding or slowing down the entire protocol’s operation. JUNO is currently on a bearish trend. This can be seen in the chart below of the cryptocurrency as it is continuously falling since mid December. The price has continued its decline since then and even though it managed to make some minor recoveries, there has been no significant rise in prices over the past few weeks.

JUNO price prediction

The cryptocurrency is currently ranked at position 110 on CoinMarketCap‘s list of cryptocurrencies by market capitalization, which is way down from its place as 19 on the list towards the end of December last year. As at now, it has a market cap of $2.87M and this is expected to rise based on the bullish activities in the market. In addition, there are more than 13 million coins in circulation with a trading volume of $907,000 over the past day. Moving forward, as more people get to know about JUNO and they are able to appreciate its features and benefits, it will increase more in price and value.

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