Monat: März 2022

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BAYC’s Apecoin (APE) surges by over 80% just a few days after launching

Apecoin (APE) appears to be the next big crypto in town, at least based on the performance over the last few days. The token, which is linked to the Bored Ape Yacht Club NFT project, has been surging today, and it doesn’t seem like it’s about to stop. Here are some of the details:

  • At press time, Apecoin (APE) was up nearly 80% in 24-hour intraday trading

  • The coin just launched a few days ago on FTX

  • It is the native token for the Bored Ape Yacht Clube NFT project.

Data Source: Tradingview 

Apecoin (APE) – where does it go next?

Apecoin (APE) was listed on the FTX exchange for the first time. As with many initial launches, there was a lot of volatility. In fact, at one point APE was trading as high as $40, only to crash to $6.3. But that early volatility has started to ease off. 

APE is consolidating its demand and at press time, it had surged by over 85%, trading at around $14.3. The Apecoin is one of the major NFT coins released this year. It is linked to the Bored Ape Yacht Club or BAYC, an NFT collection that has seen sales hit millions of dollars. 

The 85% surge today is likely to pull back as early investors cash in. We expect APE to finally stabilize between $10 and $12 by the start of the week.

Is Apecoin (APE) worth buying?

NFTs are no doubt capturing the imagination of a lot of investors. After they reported a lot of growth last year, it is likely that in 2022 and even beyond, NFTs will become a huge part of the crypto industry. 

In that case, projects that give you more exposure to NFTs are always highly recommended. The Apecoin (APE) is a perfect example of such a project. The fact that it’s also new also makes it a good option.

The post BAYC’s Apecoin (APE) surges by over 80% just a few days after launching appeared first on Coin Journal.

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Terra (LUNA) – could surge past crucial overhead resistance – Is $100 coming?

  • LUNA is consolidating between the $85 and $95 range right now.

  • At the time of writing, the coin was trading at $83.88, down around 6% in 24 hours.

  • LUNA must overcome $95 for any run above $100 to materialize.

It’s now the second day in a row that Terra (LUNA) has opened in the red. The coin saw several bullish bursts at the start of March but right now, it seems like it has stagnated. Despite this, LUNA is approaching a crucial overhead resistance zone. Can it break above $100?

Data Source: Tradingview 

Terra (LUNA) – How soon can it hit $100?

For now, it seems like the crypto market is recovering after the brutal volatility of the last few weeks. But the underlying factors that have shifted sentiment towards negative territory are still there. Inflation remains high and geopolitical tensions in Europe could hamper global economic recovery. 

However, there is also a chance that investors may have already priced-in these headwinds in the last three weeks. As for LUNA, the most important thing will be to strike past $95. In recent days, the coin has been within a tight range of between $85 and $95. 

A close above $95 will trigger enough bullish momentum that could take the stablecoin platform above $100. But despite this, momentum indicators, including the RSI are all bearish right now. We may see a drop towards the 50-day SMA of $75 before another surge.

Why is LUNA a good investment?

Terra (LUNA) is a stablecoin platform that has become increasingly integrated into the crypto market. It is also seen as the future of stablecoins and as such, there is massive investment potential here. 

LUNA has been falling sharply in 2022. But it will reverse no doubt. If you have not bought it yet, this is the best time to consider the token.

The post Terra (LUNA) – could surge past crucial overhead resistance – Is $100 coming? appeared first on Coin Journal.