Monat: Januar 2022

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Forget about the 2022 crypto slump: These are still the best altcoins to buy now

The broader crypto market is rebounding today after a choppy start to 2022. As investor sentiment starts to improve, we are likely to see prices recover, consolidate, and surge in the near term. So, what are some of the altcoins to buy? Well, here is some criterion to follow:

  • It helps if the coins are backed by strong long-term fundamentals and not hype and speculation.

  • These tokens also have a relatively low market cap, suggesting the potential for growth is high.

  • Also, the altcoins must be doing great things that will ultimately help increase their value in the long run.

Well, even with the 2022 slump, we still think that the three altcoins below are perfect buys for the year.

Aave (AAVE)

Aave (AAVE) is one of the most promising decentralised finance protocols. The platform is designed to help people lend and borrow crypto assets. At press time, the native token AAVE was trading at around $215.30, up about 6.5% in intraday trading. 

Data Source: Tradingview.com 

AAVE also has a market cap of around $2.9 billion, something that suggests there is enough upside there for more growth in the future.

Cosmos (ATOM)

Cosmos (ATOM) markets itself as an alternative to traditional blockchain networks designed to offer faster speeds, low costs, and scalability. It is one of the most highly rated blockchain projects this year and its native token ATOM is also surging. At the time of writing, ATOM was selling for $39.94, up nearly 8% in 24 hours.

Serum (SRM)

Serum (SRM) is the main decentralised exchange or DEX on Solana. It strives to offer users safe, fast, and secure transactions by leveraging the scalability of the Solana chain. Serum is currently trading at $3.11 with a market cap of $414 million. This makes it a very prime option for investors who would love to unlock its long-term potential.

The post Forget about the 2022 crypto slump: These are still the best altcoins to buy now appeared first on Coin Journal.

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Decentraland (MANA) is bouncing off its January slide and could swing 15% up

Decentraland (MANA) has been bouncing off from its early January slump. The metaverse token was one of the hottest coins in 2021, and despite the bearish trend in January, it seems like MANA is about to turn a corner. This uptrend could bring an upswing of up to 15%. Here are some highlights first:

  • Decentraland (MANA) is currently swinging between $2.20 and $2.82, a daily demand zone that could trigger bullish action.

  • At the time of writing, the token was trading at $2.96, up nearly 5% in 24-hour intraday trading.

  • MANA is also slightly above its 100-day Simple Moving Average, suggesting an uptrend is starting to emerge.

Data Source: Tradingview.com 

Decentraland (MANA) – Price action and prediction

After slumping quite substantially for the most part of the New Year, Decentraland (MANA) is starting to show signs of recovery. The coin has seen a 5% surge in 24 hours, albeit it’s still around 8% down for the week.

But crucially, MANA is now above its 100-day SMA. If current momentum holds, we expect the token to test its 50-day SMA of $3.63 in the coming days. However, investors should expect significant resistance around the $3.26 mark. 

Despite this, we are watching closely to see if MANA will consolidate around the 100-day SMA. If the token falls back from that position, it could suggest weakness, something that could easily push the price back to $2.20.

Should you buy Decentraland (MANA)?

Well, right now Decentraland (MANA) appears to be a bit discounted. The token is way below its all-time highs, and with metaverse related tokens expected to heat up in the near future, adding MANA to your portfolio is highly recommended. There could also be a short-term play for people who want to ride the price recovery after January’s slump, but it is very risky.

The post Decentraland (MANA) is bouncing off its January slide and could swing 15% up appeared first on Coin Journal.