Monat: Februar 2022

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Monero (XMR) Falls again from the crucial $180 supply zone – What next for bulls?

Monero (XMR) has seen some decent rallies in recent days. However, the coin has failed to surge past a crucial supply zone, falling sharply from there. So, what is next for this popular privacy token? Well, some analysis to follow below but first, here are some highlights:

  • Monero (XMR) has struggled to clear the crucial $180 supply zone and has fallen sharply every time

  • At press time, the privacy token was trading at around $168, down by about 6% in 24-hour intraday trading.

  • Bulls must transform $180 from a supply to a demand zone if XMR will rally further above $200.

Data Source: Tradingview 

Monero (XMR) – Price prediction and analysis

Monero (XMR) has had its ups and downs over the years. The coin has faced several regulatory issues and had to be delisted in some major exchanges. But this has not stopped the coin from truly surging. 

After coming under severe selling pressure at the start of the year, XMR has recovered sharply. But bulls have struggled to take the price action above the $180 supply zone. As traders take profit at this zone, XMR has fallen sharply every time it has tested that threshold. 

If bulls are going to take XMR above $200, they must overcome the $180 mark. If they don’t, then it is likely the coin will fall back to its current demand zone of $140. At the time of writing, Monero (XMR) was trading at $168.

Is Monero (XRM) worth buying?

A lot of privacy tokens have come out in the last few years. But Monero (XMR) still ranks among the most successful ones. After hitting highs of $519 in May last year, XMR has failed to retest those levels again. 

This downtrend gives dip buyers a perfect chance to get in. While it may take longer for XMR to return to $500, there is still enough upside to make good returns from the current price.

The post Monero (XMR) Falls again from the crucial $180 supply zone – What next for bulls? appeared first on Coin Journal.

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VeChain (VET) looks poised to test $0.075 even as the coin falls sharply in intraday trading today

The overall outlook for VeChain (VET) over the last two weeks has been positively bullish. The coin has joined other crypto assets in posting some decent climb. However, we have seen a general pullback in recent days. Here are some highlights:

  • Despite surging the last two weeks or so, VET has slowed with a significant pullback in the price.

  • At the time of writing, VET was down by nearly 12%, trading at $0.05613 in intraday trading.

  • However, the coin could still retest overhead resistance at $0.075 even with this decline.

Data Source: Tradingview 

VeChain (VET) – How soon can it get to $0.075

There was some hope that the crypto market had put the dark days of January behind it. Most coins led by the mega-caps like Bitcoin and Ethereum were all surging in February. But the much-expected pullback appears to be taking shape, and VET is seeing the effects. 

The coin is now trading 12% lower compared to 24 hours ago at around $0.05617. But this is by no means a bearish outlook. We still expect VET to test the $0.075 overhead resistance in the coming days. 

If indeed this happens, it will bring gains of nearly 50% from the current level. VET could also go on to hit $0.096 as well. But if bulls don’t hold above $0.05, more weakness could follow.

Is VeChain (VET) a good investment?

VeChain is an enterprise-grade layer 1 smart contract blockchain that was launched in 2017. The aim of VeChain is to develop an advanced blockchain ecosystem designed to address some of the hurdles associated with the usage of data in various industries. 

Ever since its launch, its native token VET has seen some decent gains. It is a good long-term bet, and its $3 billion market cap leaves enough room for upside growth.

The post VeChain (VET) looks poised to test $0.075 even as the coin falls sharply in intraday trading today appeared first on Coin Journal.

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EOS (EOS) fails to break downtrend despite reporting significant rally over the last week or so

Since September last year, EOS (EOS) has been on a massive downtrend. The coin has sparked a bit, but the general outlook ever since has been downward. There was however some hope that the rally in recent days could trigger a sustained climb. It did not happen, and here are some highlights:

  • At press time, EOS (EOS) had fallen by nearly 8% over the last 24 hours, trading at around $2.38

  • The coin has however rallied by nearly 40% over the last two weeks.

  • Despite this surge, crucial indicators show that EOS (EOS) still remains in the bear market.

Data Source: Tradingview.com 

EOS (EOS) – when will the downtrend break?

We will need to see some sustained gains over a longer period of time for EOS (EOS) to report a decisive breakout on the up. The $3 dollar mark appears to be a crucial resistance zone. We did see EOS (EOS) climb past that late last year but failed to hold any gains. 

In fact, some analyst argues that surging above $3 will be decisive for EOS (EOS) in its effort to transition into a bull run. Besides, the RSI readings are neutral, suggesting that there is enough potential for the token to surge. 

At the time of writing, EOS (EOS) was trading at $2.62. There is still some way to go before $3, but going by recent rallies, it is possible.

Why you should buy EOS (EOS)?

There are hundreds of crypto assets that must be in your portfolio, and EOS (EOS) is one of them. The platform bills itself as the ultimate DAPP development suite. 

It simply gives developers the tools to create and deploy innovative decentralised apps. At the moment, EOS (EOS) has a market cap of around $2.3 billion. This makes it a decent option for unlocking long-term value.

The post EOS (EOS) fails to break downtrend despite reporting significant rally over the last week or so appeared first on Coin Journal.

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Crypto Inu (ABCD) tanks by over 30% barely 24 hours after launching a new DeFi deflationary token

Crypto Inu (ABCD) has announced the release of a new DeFi deflationary token. The community token is designed to combine charity support and staking for users. But the news did not immediately trigger a buying bonanza. Instead, Crypto Inu (ABCD) has fallen sharply.

  • Despite the news, the coin opened trading on Saturday around 30% lower.

  • Crypto Inu did however manage to pair up some of these losses and was trading at $0.0000001769 at press time, 21% down.

  • But analysts believe that as the Crypto Inu ecosystem expands, more gains will come in the future.

Data Source: Coinmarketcap.

Crypto Inu (ABCD) – what the future holds

Crypto Inu is a play-to-earn blockchain game that incorporates NFT rewards. It is basically a board game that is trying to bring virtual reality and 3D integration into the experience. The coin right now has a market cap of about $8.5 million. 

It is quite literally a microcap, and there is just a lot to gain from it. The fact that ABCD is also adding new features into its ecosystem is a sign that it is headed in the right direction. As we start to see, the crypto market picking up in the coming days, expect ABCD to also see some gains in the long run.

Why you should consider Crypto Inu (ABCD)

There are several reasons why investors would prefer certain crypto assets over others. However, the key factor is always that upside for growth. Crypto Inu (ABCD) looks more or less like a new coin. 

There is still so much to come from it when you consider its small market cap of around $8.5 million. Besides, NFT based games are exploding right now. Although there is a lot of competition, you’d expect Crypto Inu to earn some market share in the coming months.

The post Crypto Inu (ABCD) tanks by over 30% barely 24 hours after launching a new DeFi deflationary token appeared first on Coin Journal.