Der belgische Abgeordnete bezieht sein Gehalt von 5.000 Euro in Bitcoin, um damit ein Zeichen an seine Kollegen zu senden.
Terra (LUNA) might drop 45% if the bearish head-and-shoulder holds
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Terra (LUNA) might drop to over $25 per token in the next few weeks.
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Harsh monetary policies began to harm bullish assets when they were slack.
The price of LUNA is in danger of falling lower, but experts predict a comeback when the cryptocurrency challenges a stable multi-month trend line for security. According to an analytical assessment given by experts, Terra (LUNA) might fall to around $25 per token in the following weeks as a head-and-shoulders (H&S) arrangement develops, signaling a 50% price decline.
When the price produces three peaks in succession, the middle peak (referred to as the „head“) is higher than the other two (left and right shoulders). The „neckline“ is a standard price floor that connects all three peaks.
When the market falls below the H&S neckline, traders usually try to begin a short position. Before launching a short position, some traders use a „two-day“ rule, in which they wait for the second breakout verification when the price retests the neckline from the downward as resistance.
Source – TradingView
Conversely, traders should aim for a short objective with the same length as the highest range between the head and the neckline. As illustrated in the chart, the price of LUNA is now moving toward the same H&S short target, which is now approaching $25.
Strong macroeconomic triggers put pressure on LUNA’s trading
LUNA’s downtrends have often come to an end when it challenges its 50-week simple moving average as support throughout its brief existence as a financial asset. At the time of publication, the price floor was about $30.
However, LUNA has probed its 200-day average range (200-day EMA) for a possible comeback on the daily timeframe chart. If that happens, LUNA’s next upside objective, as seen in the chart above, seems to be approaching $75.
A definitive move below the 200-day EMA wave, on the other hand, might kick off the H&S setup toward $25.
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Decentraland (MANA) could rise after finding support at $1.75
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On Saturday, Decentraland (Mana) expands the consolidated movements.
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Expect the rally to continue beyond the $2.50 to $3.0 demand zone.
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A breach below $2.03 would invalidate the bull’s hypothesis.
The price of Decentraland has remained stable at current levels, making a hammer candlestick on January 22. Although there is less purchasing activity in cryptocurrencies, they are still building a bullish setup. MANA/USD is now trading at $2.31, up 1.23 percent on the day. The current market capitalization of MANA is $4,304,417,127 USD, with a current circulation of 1,824,500,835 MANA coins and without maximum supply.
Decentraland (MANA) prepares for a U-turn
The price has been on a downward trend on the daily charts since testing the 50-day moving average on December 27. The price had already dropped from all-time highs of $5.91 on November 25, a total value drop of 48 percent. Investors challenged the $3.06 level three times, a support-turned-resistance level. As a result, it is a critical trading level.
Source – TradingView
The daily relative strength index (RSI) is now trading at 38, with a bullish crossing suggesting that the pair is poised to go higher. The declining trend line from the stated line, which is at $2.50, is the immediate resistance.
In addition, the bulls would dig deep to reclaim the psychological $3.06 level. This will also coincide with the 50 DMA re-test. A clear break above this level might entice additional investors to join the renewed upward trend.
Conversely, the bullish thesis will be invalidated if the price falls below the $1.98 horizontal support line. The $1.50 level would be the objective for sellers. More fall is likely targeting the descending channel’s bottom trend line at 1.32. The last time these levels were witnessed was in October.
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Avax forms an Inverted Flag Pattern indicating continued Correction
- The AVAX price receives dynamic support from the 20-day EMA line.
- In the daily chart, the RSI slope indicates a significant rebound.
- The AVAX Network coin’s intraday trading volume is $1.81 million, representing a 20% loss.
The price of AVAX had a substantial drop in January. The coin’s value plunged by half in less than a month to $53.6. This collapse has been extended by the recent relief rally in the AVAX/USD combination, which has created an inverted flag pattern.
The AVAX price demonstrated a relief bounce to the $97 barrier. However, the crypto market’s abrupt sell-off breached the 200-day EMA and 50 percent Fibonacci retracement, bringing the coin’s price down to $53.
The bearish onslaught has been halted by a common support zone of $53 and 0.618 FIB level, which has sparked a retest of the 200-EMA. If sellers can keep the AVAX price below $76 for an extended period, the coin’s price will continue to fall.
The RSI slope has quickly recovered from the oversold zone due to recent price surges. The slope has passed above a resistance trendline and the 14-SMA line, suggesting that coin buyers are becoming more powerful.
Source – TradingView
Above the $77.8 level, there is a bullish opportunity
On the 4-hour set timeframe graph, the AVAX/USD pair is forming an inverted flag pattern. Once the coin price falls off of the rising support trendline, this bearish continuation pattern might present a good selling opportunity.
Crypto traders may anticipate a decent rebound potential if the ALT price breaks over the joint resistance of $77.8 and the 20-day EMA line. The falling ADX slope indicates a loss of selling momentum. A break out of the price pattern, on the other hand, would set off an upward trend.
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GameStop, AMC stocks remain ‘dangerously overvalued’: Analyst
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AMC Entertainment Holdings and GameStop Corp. were among the most popular meme stocks last year, with prices driven up by retail buyers
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GameStop is miles off its 2021 peak of $483, while shares of AMC Entertainment are similarly off the highs of $72.62.
Shares of “meme stocks” GameStop Corp. (NYSE: GME) and AMC Entertainment Holdings Inc. (NYSE: AMC) are down roughly 36% and 44% year to date after a brutal few weeks in the markets.
While the stocks saw a huge bounce on Friday, an analyst says the sell-off witnessed since the market frenzy of 2021 isn’t over for these stocks.
He predicts more pain amid investor pivot into profitable companies or other investment niches like metaverse and NFTs.
No profits and “untethered from reality”
Meme stocks exploded onto the scene in 2021, rallying to massive heights alongside Bitcoin and other cryptocurrencies. As crypto has tanked, the stocks have tumbled too- with more losses to come according to analysts.
David Trainer, the CEO of investment research firm New Constructs says GameStop and AMC are set for more selling, with the companies unlikely to be profitable over the next two years.
Trainer explains that investors might look elsewhere for profitable deals as they steer away from stocks that put portfolios at the unnecessary risk of devastating declines.
According to the analyst, while investors might want to look at the valuation of companies they invest in versus their profitability, the metric doesn’t really apply to most meme stocks.
He notes that investors are likely to see no problem in paying a premium to get an investment in a company with strong profits. Pointing out GameStop and AMC Entertainment as two of the most popular, he said the two have valuations that “remain untethered from reality.”
“Meme stocks like GameStop and AMC Entertainment remain dangerously overvalued and don’t generate anywhere near the profits necessary to justify their current valuations,” he added.
Potential investment trends to see more inflows as investors continue to rotate out of meme stocks are metaverse and NFT linked companies.
Wall Street targets for GME and AMC stocks
The GameStop stock closed at $97.91, up 4.8% on Friday while AMC shares traded up 3.7% to $15.06. While positive on the day, a look at the monthly logs shows the extent of the stocks’ declines.
Data from MarketWatch shows GME is down 69% in the past twelve months, while AMC is sharply down year to date at -44% to cut yearly gains to just 13%. Over the past 30 days, GME prices are down nearly 37% as AMC’s have shed nearly 48%.
Wall Street has an average price target of $8.17 for AMC Entertainment, representing a 45.75% downside from current levels.
TipRanks also shows that 4 analysts have an average price target of $34.00 for GME, suggesting an expected 65.27% drawdown from Friday’s close of $97.91.
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