Monat: Februar 2022

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Algorand (ALGO) could rally by nearly 25% after a period of price consolidation- Here is why

Algorand (ALGO) looks poised for a bullish breakout. After dropping below the $1 mark, the coin has actually been consolidating there the past few days. It seems like it’s about to break out, especially now that we have seen sentiment in the market get better. Here are some highlights:

  • The $1 mark has proved to be a very strong overhead resistance zone for ALGO but the token has tested it continuously.

  • At the time of writing, ALGO was trading at $0.9793, up by about 6% in the last 24 hours.

  • If indeed the coin is able to break above the $1 mark, then we could see a genuine 25% rally in the days ahead.

Data Source: Tradingview

Algorand (ALGO) – Price analysis and prediction

After falling below the psychologically crucial point of $1, ALGO has actually consolidated well just below that. The coin has retested the $1  threshold a few times but has yet to break free. 

In fact, over the last 11 days, ALGO has largely been slightly off $1, and this suggests that the period of price consolidation is now over. As such, Algorand is poised for a rally. 

If indeed we see a surge past $1, then expect ALGO to add at least 25% in value. But if bear pressure pushes it below weekly resistance of $0.8, more weakness may follow in the near term.

Why Algorand (ALGO) is a good buy

Algorand (ALGO) calls itself a self-sustaining decentralised blockchain that offers an elaborate ecosystem for a huge variety of applications. The network has continued to see major gains since launching in 2019. 

There are millions of transactions here, with more expected to come in the future. As far as the best blockchains go, Algorand is indeed among the top 10. It’s an asset worth having, especially for long-term value investing. 

The post Algorand (ALGO) could rally by nearly 25% after a period of price consolidation- Here is why appeared first on Coin Journal.

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JUNO (JUNO) enters top 100 crypto rank and hits all-time highs in a recent bullish surge

JUNO (JUNO) network, a smart contract platform linked to the Cosmos ecosystem is now among the top 100 cryptocurrencies by market cap. The token has also hit and surged to an all-time high as it continues this incredible uptrend. Here are so notable highlights.

  • With a market cap of around $1 billion, JUNO (JUNO) is now ranked among the top 100 coins

  • At press time, the coin was trading at $26.36, up by nearly 22% in the last 24 hours.

  • JUNO (JUNO) has also managed to hit new all-time highs and is expected to maintain this growth in the coming days.Data Source: Coinmarketcap

JUNO (JUNO) – Price action and analysis

As a layer 1 smart contract network, JUNO (JUNO) is built to solve the inefficiencies and high costs of traditional blockchains. The network is built using the Cosmos SDK but offers scalable cross-chain capabilities. 

At the time of writing, JUNO (JUNO) had surged by about 22% in a single day. It also follows other Cosmos-related tokens that have been basking on the green this week. For instance, Osmosis (OSMO), a Cosmos-based DEX for IBC token swaps, has also seen massive gains. 

The JUNO (JUNO) surge is expected to continue in the coming days, and as sentiment in the broader market improves, the price could go even further above its new ATH.

Is JUNO (JUNO) a decent investment?

Layer 1 scalable solutions are really hot right now, and it’s not hard to see why. People want faster, more efficient blockchains and these solutions help with that. The fact that JUNO (JUNO) is built on Cosmos gives it an edge. 

Cosmos (ATOM) is one of the most exciting projects in blockchains today. So, for investors searching for real long-term value, there is no doubt that JUNO (JUNO) is a very decent acquisition.

The post JUNO (JUNO) enters top 100 crypto rank and hits all-time highs in a recent bullish surge appeared first on Coin Journal.