Monat: März 2022

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Filecoin (FIL) could target $35 in major breakout – here is why

Filecoin (FIL) has started the week on a high. The coin is strongly trending upwards and is now targeting to hit $35 in the coming days. The momentum is likely to continue as well in the near term. Here are some of the key facts to keep in mind:

  • Filecoin (FIL) has surged by nearly 30% in the last 24 hours.

  • The coin is poised to hit $35, a gain of nearly 50% from the current price.

  • All momentum indicators also remain positive in the short term.

Data Source: Tradingview 

Filecoin (FIL) – The road to $35

The general trend for Filecoin (FIL) for the most part of this year has been down. In fact, the coin struggled a lot over the past few weeks to rise above $16. But the last week has been quite impressive for FIL. 

The coin not only managed to smash through the $16 resistance, but it has also gone past two other resistance zones. This includes the $20 and $24. FIL is trying to consolidate gains above $25 right now and so far, the bulls have the upper hand. We expect FIL to continue trending upwards over the coming days. 

While it is unlikely it will surge past $35 before the end of the week, the coin will test that zone at least once. When this happens, FIL would have delivered gains of over 50% from the current price.

The long-Term Outlook for FIL

The long-term outlook for Filecoin has always been positive. In fact, conservative estimates are looking at $80 by the end of 2022 as long as sentiment remains strong in the market. 

As for the short term, FIL will trend towards $35 and is likely to settle around $45 in Q2 this year. This will represent a massive surge from the lowest point in 2022. It would also mean that FIL has finally reversed the downtrend.

The post Filecoin (FIL) could target $35 in major breakout – here is why appeared first on Coin Journal.

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Holo Chain (HOT) hits monthly high in the bullish rally – Where does the price go next?

Holo Chain (HOT) has trended strongly upwards over the last few days. The coin has managed to post gains over the last three trading sessions in a row. As such, it has now turned bullish. But how far can it actually rise? We’ll discuss this more but first, some important facts:

  • The recent rally now means that HOT has smashed past its 30-day high

  • The coin has also regained over 50% from its lowest level this year.

  • HOT was also up by around 15% over the last 24 hours

Data Source: Tradingview 

Holo Chain (HOT) – price prediction and analysis

Holo was already surging the past week. New announcements on the ecosystem last week had pushed 7-day gains to over 30%. However, for most analysts, the key to watch during that rally was the overhead resistance of $0.6. 

Based on the price action today, it seems HOT has smashed that threshold. As a result, HOT is expected to keep the uptrend going and is likely to test $0.01 in the near term. This will represent gains of around 50% from the current price now. 

Besides, HOT has also pushed above the average trading price of the last 30 days by over 50%. This indicates that investors are bullish about the coin and the recent gains we have seen are bound to continue. The only way this bullish momentum slows is if bulls fail to keep the price above $0.06.

Why Could Holo Chain (HOT) be perfect?

In the short term, we expect HOT to run a bit further. In fact, gains of at least 30% appear likely in the week ahead. But for long-term investors, the fact that HOT still has a market cap of less than $1 billion means that there is quite some potential. It is likely the coin will hit $0.03 before the end of the year.

The post Holo Chain (HOT) hits monthly high in the bullish rally – Where does the price go next? appeared first on Coin Journal.

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Anthony Pompliano: Bitcoin is destroying stocks this year

  • Pompliano says Bitcoin has shown greater decoupling from stocks and is now positive year-to-date.

  • The Fear & Greed index jumped from “neutral” to “greed” between Sunday and Monday.

  • Nexo and BitBull executives are also bullish about Bitcoin, with $46,000 now a key price level for bulls.

Bitcoin’s breakout over the past few days has included a rally to highs of $48,075 as seen in intraday trades on Monday.

The upside has pushed BTC price into the positive territory year-to-date while showing a greater decoupling from the stock market.

BTC is up, stocks are down YTD

In Pomp Investments founder Anthony Pompliano’s words, “Bitcoin is destroying stocks this year,” even as the “haze” that shrouded the market at the start of the year begins to clear. 

He notes that Bitcoin is up while stocks are down, with the sideways action giving way to fresh gains in BTC that have left equities in the dust.

“We are watching Bitcoin outperform the equities market year-to-date, just like it did last year and just like it’s done over the last decade or so,” the entrepreneur said.

Looking at the S&P 500, we see its year-to-date performance at -4.61%. The Nasdaq Composite is 9.33% down, while the Dow Jones Industrial is -4.45% YTD. Bitcoin, on the other hand, is nearly 4% up year-to-date, with gains since the YTD low of $33k now around 44%.

Fear & Greed index

Pomp also points to the Fear & Greed index and says it’s undergone quite a shift in just a few days.  There’s a lot of buy-side pressure as the “greed” index hits slightly above 60. On Sunday, the metric was around 49 (neutral) and it hovered in the mid-20s last week.

The rally to highs of $48k proves Bitcoin remains the king even when there’s „blood on the streets,“ Pompliano added.

He says Bitcoin continues to show it’s the „ultimate safe haven asset.“

According to the co-founder and managing partner at Nexo Antoni Trenchev, Bitcoin’s rally has seen it test 2022’s peak for the fifth time. With more people likely to “pile” into the market, as a result, it is possible to see further buying propel BTC-USD even higher.

“It might just be time to awaken from the Bitcoin-sideways slumber that’s been 2022,” Trenchev said in a quote Pompliano highlights in his YouTube comment.

Joe DiPasquale, the CEO of BitBull Capital says bulls might now want to see BTC-USD stay above $46,000 to give room for new momentum. “The coming week is also important as it marks the end of the quarter, and we could see increased volatility after that,” he told Pomp.

The post Anthony Pompliano: Bitcoin is destroying stocks this year appeared first on Coin Journal.

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VeChain (VET) is up 54% in 7 days – Is the uptrend sustainable?

VeChain (VET) has been one of the main crypto performers of the past week. Although the broader market has seen significant gains, VET has surged by a whopping 54%. But how sustainable is this uptrend? More analysis in the post but here is what you need to know first:

  • VET has trended upwards for the last several days and was up nearly 15% in the last 24 hours.

  • The coin however faces significant overhead resistance at $0.9.

  • VET has broken out from its 50-day EMA, suggesting bullish momentum.

Data Source: Tradingview 

VeChain (VET) – Is the uptrend sustainable?

A 54% push in just 7 days is no easy feat. VET has however been on a steady rise for several days. For most bulls, the key was the breakout above the 50-day EMA which appears to have triggered a significant rally. Despite this VET still remains lower than its 200-day EMA of around $0.9. This will prove to be a massive resistance level. 

So far, the coin is yet to test that threshold. Even though VET has surged by nearly15% today, its price remains at around $0.7, marginally lower than $0.9. 

For now, though, it seems like the trend is breaking upwards. We have seen VET post double-digit gains over the last two days. It is likely that the coin will once again repeat this in the two days ahead. This will push the price action well above the 200-day EMA, something that in turn will lead to a decisive bullish run.

Should you enter veChain (VET) now?

The break above the 50-day EMA was the sign for bulls to enter. It’s still not too late from a short-term point of view. VET is likely to rise in the days ahead. Also, from a long-term point of view, the fundamental value of veChain is quite incredible as well. It’s worth your investment.

The post VeChain (VET) is up 54% in 7 days – Is the uptrend sustainable? appeared first on Coin Journal.

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Canada PM candidate Pierre Poilievre buys lunch with Bitcoin

Tahinis Restaurants owner Aly Hamam shared his ‘secret’ with Canadian politicians during a Standing Committee on Finance’s Pre-Budget Consultations session.

Canadian politician and Conservative leadership candidate Pierre Poilievre just bought lunch at Tahinis Restaurants using Bitcoin (BTC).

The news follows an earlier tweet from the politician about his plan to buy a shawarma with BTC even as he met the owner of a business that outsmarted the government to beat inflation.

Poilievre, who wants to become the next Canadian Prime Minister, could help Canadian businesses do just that. And he said as much in a tweet posted on Monday, which also aligns with his other big plan – to give people back their ‘freedom’ and make Canada the world’s “blockchain capital.”

Bitcoin to the ‘world’

“You’ll never believe how this London shawarma shop owner outsmarted government to beat inflation. Today, I’m buying lunch from him—and bringing my Bitcoin wallet.”

So, how did a small business manage to beat inflation, outsmarting government experts and officials in the process? In a video, also shared on Monday, Poilievre specifically says even the Finance Minister got it (inflation) wrong.

Asked how, Aly Hamam, the owner of Tahinis Restaurants, gave an apt response:

He and his company noticed how there was a lot of money “chasing the same goods” in the months before the pandemic. And more money, exacerbated by the quantitative easing that followed the pandemic led to the rising inflation seen over the past year.

Luckily, Tahinis had stumbled upon Bitcoin (BTC).

According to Hamam, Bitcoin’s fixed money supply meant they went “in knowing the rules” and more importantly, these rules “don’t change on you.” Simply, no one controls the money as do banks and politicians.

He said Tahinis bought Bitcoin when the coin’s value was around $10k-$12k in 2020. At BTC’s market price of around $37k last week, the company had a +66% deflationary advantage over its fiat holdings at the start of the pandemic.

Here’s the rest of Hamam’s Bitcoin experience.

The post Canada PM candidate Pierre Poilievre buys lunch with Bitcoin appeared first on Coin Journal.