Bitcoin und einige Altcoins weisen allmählich einen neuen Aufwärtstrend auf. Das zeigt, dass die Stimmung von „verkaufen bei Rallyes“ auf „kaufen bei Rückgängen“ umgeschlagen ist.
Crypto safe heavens: Top 3 coins to store your wealth
The crypto market is often associated with high volatility, wild swings in prices, and stories of rags to riches as well. It’s therefore very hard to look at crypto-assets as serious stores of wealth. But there are actually some coins that can help preserve your money without you taking so much risk: Here is how:
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The crypto market these days has Stablecoins which are typically pegged on real assets.
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Some crypto assets have minimal volatility too, including the mega caps.
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You can buy crypto assets pegged on things like gold and other precious metals.
In case you are searching for coins that can offer you some stability in crypto, we have three here below to check out.
Pax Gold (PAXG)
As noted above, there are stablecoins in the market that are pegged on gold. Pax Gold (PAXG) is one of them. This is basically a crypto asset whose value is directly based or correlated with the price of gold.
Data Source: Tradingview
In essence, you get to store your asset in decentralized systems while getting the assurance of gold as a store of wealth. Many investors look at gold as the ultimate safe haven during times of volatility. PAX Gold helps you rely on gold in its crypto form.
PAX Dollar (USDP)
The Pax Dollar (USDP) is a stablecoin that is pegged on the US dollar. Just like the PAX Gold coin, its price is directly correlated with the US dollar. So, if you don’t want to put your money in fiat form, you can ditch the bank and store your dollars in crypto form.
Tether (USDT)
Tether (USDT) is also backed by the US dollar. However, unlike PAX Dollar, it actually has much more trade volume and market cap. In fact, Tether is the most popular USD-based stablecoin in the world. It will let you store your dollars in the blockchain easily.
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Tracking the crypto rally: 3 coins that have surprised us
After a very bad start to 2022, crypto coins have started to really show some outstanding rallies. In the last week of March, most coins have closed well in the green, and the momentum could go on further. Here is why coins are rallying:
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A period of uncertainty with regards to Fed rate hikes has now gone.
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Many investors who were sizing up the market are starting to come back.
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Institutions are looking at crypto as a diversified asset pool to hedge against equities.
In the midst of this rally, there are some coins that have done way better than we expected. Here are some of them:
Ethereum Classic (ETC)
As the shift from the Ethereum Proof of work model continues to near, we did see some remarkable shift among Ethereum miners towards ETC. In fact, at one point the coin rallied by nearly 70% in a week.
Data Source: Tradingview
As of now, ETC appears to have erased the losses made this year and the uptrend is still strong. Although there was always some positive outlook around the coin, many analysts did not expect it to recover as fast as it did. We expect more gains to follow in Q2 this year.
Convex Finance (CVX)
DeFi has always been a huge part of the future growth of crypto. 2021 was the breakthrough year of DeFi, and there was a lot of optimism that we were going to see more and more success in 2022. But DeFi coins failed to impress, and Convex Finance (CVX) saw massive falls from ATHs as a result. But the DeFi space is rebounding, and CVX is up 50% for the week.
Zilliqa (ZIL)
Imagine a 150% surge in less than a week? ZIL appeared to be down and out a few weeks ago, and it was struggling to find any momentum. Although there was some hope it will finally recover, the fact that it has done so in a week or so simply boggles the mind.
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Dent (DENT) may have a capped upside despite the recent rally – Here is why
As the crypto market rallies at the start of the week, coins like Dent (DENT) have posted double-digit daily gains with weekly rallies of over 30% or so. But as with every bullish run, a pullback is always around the corner. For DENT, there seems to be a capped upward potential. Here is what you need to know:
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The coin has rallied by 11% in the last 24 hours
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Dent is also up by around 30% over the last 7 days.
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The recent upswing is likely to continue before capping at a crucial resistance.
Data Source: Tradingview
Dent (DENT) – Why is upward momentum capped?
After gaining nearly 30% over the last 7 days, it seems like DENT still has some room to grow. However, we do not expect the coin to truly trend upwards for long. At the moment, DENT is trading at $0.034. There are two important resistance zones to watch.
The first one is the $0.035 mark, and the second is the $0.41. As of now, it seems like DENT is testing the first resistance zone but is yet to break through. In fact, in 24-hour trading, we saw some significant pullback from the morning sessions, where daily gains dropped from 15% to around 11%.
This could suggest that weakness at $0.35 is coming, and DENT may as well fail to surge past that first hurdle. If indeed this happens, DENT is likely to fall sharply before the end of the week. But if bulls can rally above $0.35, then $0.41 will be next.
Is DENT worth buying?
There is no momentum right now, to be fair. Yes, the coin has pushed up in the last 7 days, but we expect it to trade mostly sideways in the coming days as bulls try to smash past the crucial resistance we have talked about above. It would therefore be better to wait until the price has pulled back slightly.
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DigiByte (DGB) swings 30% up in 24 hours in an extraordinary bullish breakout over the last 14 days
DigiByte (DGB) has surged over the last 24 hours in what appears to be a decisive bullish breakout. The coin has also been rising over the past month and has reclaimed a lot of losses seen this year. But how much momentum does it actually have? More details are below but first, here are some important points:
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DGB is up around 90% over the last 30 days and over 100% in 14 days.
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The coin had managed to post 30% gains in 24-hour intraday trading.
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There however remains a serious risk of a sell-off
Data Source: Tradingview
DigiByte (DGB) – Analysis of this uptrend
For the most part of 2022, DigiByte remained largely on a downtrend with a few bursts upwards here and there. But in the last 14 days, it seems the coin has just shot up, gaining nearly 90%. DGD is now testing $0.4. The last time it did this was in June last year.
The $0.4 mark will be a decisive resistance level. We expect investors to start locking in profits at around that price and as such, it is highly unlikely that DGB will cross over. Also, looking at the 3-day chart, the coin is poised for a significant pullback.
While this may not happen in a few days, overall, we expect DGB to be firmly rejected at $0.4 and will firmly fall towards $0.28 in the near term. This will be a downswing of more than 30%.
Is DigiByte (DGT) worth buying now?
The momentum that DGB has built over the last 14 days is about to slow. The coin is currently at $0.36. We believe the upside based on the chart is capped at $0.4. It wouldn’t, therefore, make any sense to buy now.
However, please watch the rejection at $0.4. DGB is likely to fall back by at least 30% to around $0.28. This would be the best price to enter once more.
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