Monat: Januar 2022

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Ravencoin (RVN) has been surging the past week – should you buy it?

Ravencoin (RVN) is right now one of the best performing coins in the market. The token is up 20% over the last week. These gains would be even higher were it not for today’s broader crypto pullback that saw RVN lose over 10% in 24 hours. So, what is Ravencoin (RVN), and should you even consider it? The analysis is below but first, some highlights:

  • This week’s gains have helped Ravencoin (RVN) surge past its December lows by nearly 80%.

  • At press time, the token was down 10% in 24-hour intraday trading but is still 20% up over the last 7 days.

  • Despite this positive momentum, Ravencoin (RVN) still remains 62% from all-time highs in 2021.

Data source: Tradingview.com 

Ravencoin (RVN) – Price analysis and prediction

Ravencoin (RVN) was launched 4 years ago. During this period, the token has reported significant growth. The recent 7-day surge suggests that perhaps there is way more to come from Ravencoin (RVN). 

Besides, at the time of writing, the coin had a market cap of around $1.2 billion, an indication that there is still enough upside to unlock more value in the long term. Right now, the coin is also above its 25- and 50-day moving average. 

Despite the 10% 24 hour pull back, Ravencoin (RVN) is still above its resistance level of $0.115. We expect the token to trade above this threshold as long as sentiment in the broader crypto doesn’t deteriorate further.

Why you should buy Ravencoin (RVN)

Ravencoin (RVN) is built on a fork of the Bitcoin code. It is designed to be a peer-to-peer blockchain network that facilitates the transfer of crypto assets in the most efficient and less costly way. So far, the project has earned the trust of many investors. Although it is not really the most promising blockchain project today, it could still offer decent returns for long-term plays.

The post Ravencoin (RVN) has been surging the past week – should you buy it? appeared first on Coin Journal.

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Here is why you should buy Aave (AAVE) despite pullback below $250

Aave (AAVE) has largely traded sideways over the last month without any significant breakouts. But it did manage to oscillate between $250 and $270. For most analysts, as long as the price remained above $250, then it was just a matter of time before Aave (AAVE) surged above $300. But a pull-back has seen the coin tank below $250. Should you still buy Aave (AAVE)? Well, here are some facts:

  • The recent pullback has largely been pushed by risk-off sentiment in the crypto market over the last 24 hours.

  • At the time of writing, Aave (AAVE) was trading at $221, down 13% in 24-hour intraday trading.

  • We expect sentiment in crypto to ease in the coming days, with Aave (AAVE) rebounding back to $250.

Data Source: Tradingview.com

Aave (AAVE) – Price analysis and prediction

Most New Year predictions were looking at Aave (AAVE) heading above $300 in the near term. There were of course some downside risks due to sluggish sentiment in broader crypto. 

Despite bouncing between $250 and $270 the past few weeks, Aave (AAVE) tanked below $250 in a 13% 24-hour pull back. However, we expect the price to quickly rebound back to $250, especially with improving sentiment in the market. 

After that, Aave (AAVE) will likely reclaim the $270 price and surge beyond $300 as earlier expected. But we are watching sentiment very closely to see how it plays out in the coming days.

Should you buy Aave (AAVE)?

Aave (AAVE) is one of the most promising DeFi projects. The protocol allows people to borrow and lend crypto assets through a decentralised ecosystem. Although this area is seeing a lot of competition, we expect Aave (AAVE) to be a major player in the long run. So, if you are looking for decent DeFi tokens to buy, this could be a good bet for any investor. 

The post Here is why you should buy Aave (AAVE) despite pullback below $250 appeared first on Coin Journal.