Monat: März 2022

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Jasmy Coin (JASMY) continues its bearish trend – What does the future hold?

Over the last few months or so, Jasmy Coin (JASMY) has largely been on a strong bearish trend. The coin has tried several times to build some upward momentum but has failed in most attempts. So, what does the future hold for JASMY investors? Here are some highlights:

  • The coin is currently closing in on its all-time low.

  • JASMY has also fallen nearly 100% from its all-time highs.

  • At press time, Jasmy Coin (JASMY) was trading $0.01266

Data Source: Tradingview 

Jasmy Coin (JASMY) – The future prediction

The broader crypto market has of course slumped and many coins have posted losses. But Jasmy Coin (JASMY) has been on another bearish level. The coin is in fact nearing all-time lows right now. It has also crashed massively from the previous ATH. 

Jasmy Coin (JASMY) also remains lower than its 25-day simple moving average. All these signs point to a continued bearish outlook in the near term. But perhaps one sign of optimism is the fact that the Relative Strength Index has moved to the oversold territory. This could suggest that perhaps Jasmy Coin (JASMY) has fallen to the limit and the only way now is up. 

The next key support for the Japanese token will be $0.010. We expect the coin to hit that level before it finds another leg up. But any bullish surge could find significant challenges breaking above the $0.02 mark. At press time, Jasmy Coin (JASMY) was trading $0.012.

Jasmy Coin (JASMY) – Is it a good buy?

Well, it’s surprising to see Jasmy Coin (JASMY) bottoming like this. It is after all a very decent project that looks to provide a simple way for businesses and individuals to monetize data. 

Although there are still other projects like Ocean Protocol that are doing well in this area, Jasmy Coin (JASMY) still remains a solid option. It could be a great option to purchase, especially now that it’s completely bottomed.

The post Jasmy Coin (JASMY) continues its bearish trend – What does the future hold? appeared first on Coin Journal.

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VeChain (VET) faces strong resistance in its road to recovery – How long should you wait?

VeChain (VET) has dropped for the last 4 days in a row in what appears to be a bloodbath. But contrary to what you’d believe, VeChain has actually been more resilient. Although it’s fallen, it has not been as much as other crypto assets. So, what does the road to recovery look like?

  • VeChain (VET) will face major resistance at $0.06 as it looks for its next bull run.

  • The coin is currently trading at $0.045, down around 3% for the day.

  • Any bullish breakout will only come if VET clears $0.06.

Data Source: Tradingview 

VeChain (VET) – Price prediction and analysis

The resilience that VET continues to show has been quite commendable. But despite this, the coin still remains on a bearish long-term trend. However, there are signs that the coin is trying to consolidate. The key will be to watch the $0.06 resistance. 

While VET has tested that price in recent weeks, it has been rejected almost every time. As sentiment in the crypto market improves, VET bulls will target another stab at $0.06. If they are able to pull above it, then we could see a rally that takes the coin well towards $0.08.

This will be nearly 45% higher than the current price. But if VET is rejected again at $0.06, it could slide back down to $0.03 before it tries to consolidate once more.

Why buy VeChain (VET) now?

As noted above, the long-term trend for VET has been bearish. The coin has fallen substantively from its all-time highs and continues to struggle to find any demand. 

But the underlying fundamentals of the VeChain network have always been stellar. Also, the long-term outlook for VET is very positive. The recent downtrend offers investors the chance to buy into the project at a smaller price than they would have under different circumstances.

The post VeChain (VET) faces strong resistance in its road to recovery – How long should you wait? appeared first on Coin Journal.

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Ripple (XRP) is looking poised to rally towards $1 – How realistic is that?

Ripple (XRP) has had a lot of negative press in recent weeks with the SEC lawsuit. As a result, many investors appeared to be steering away from the coin. But at the start of March, XRP started to gain some momentum. Analysts are looking at a rally above $1, but how feasible is that? Here are some highlights first:

  • Ripple (XRP) is winning the SEC suit, and investor confidence is returning.

  • The coin has however been rejected strongly at $0.85.

  • Any run towards $1 must overcome the $0.85 resistance.

Data Source: Tradingview 

Ripple (XRP) – is $1 realistic?

Well, to be fair, it won’t be the first time Ripple (XRP) surges above $1. The coin is coming out strongly after positive news in the SEC suit. But in previous trading sessions, XRP has been firmly rejected at $0.85. The resistance has in fact proven quite hard for bulls to overcome in recent weeks.

We believe that any rally above $1 can only come if XRP is able to sustain gains above that threshold. At the time of writing this post, the coin was trading at $0.75. Also, surging above $1 will now mean that XRP has risen above its 200-day EMA, which could trigger a decisive bullish run. 

But with a lot of selling pressure and short-term speculative trading right now, it will take a lot of persistence by bulls to edge above the $1 mark.

Are investors buying Ripple (XRP)?

For a long time, we have always known that Ripple (XRP) is a decent asset to buy. But the SEC issue was affecting investor sentiment towards the coin in a big way. 

Now that these issues have started to clear out, it is likely that investors are also returning to XRP. After all, this is a big crypto project with the promise of superb long-term gains. It makes sense to own it as part of your investment strategy.

The post Ripple (XRP) is looking poised to rally towards $1 – How realistic is that? appeared first on Coin Journal.

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Disney Pixar Pals NFTs launched on Veve sells out shortly after launch fetching $3.3M

Disney Pixar Pals NFTs collectibles launched on March 13 on the digital collectibles marketplace Veve, sold out within 24 hours. Crypto enthusiasts bought all the 54,995 NFTs.

The NFTs consisted of memorable moments and iconic characters created by Pixar Animation Studios. Examples of the NFT characters included Sherrif Woody, Lightning McQueen, Mike Wazowski, Edna Mode, and The House from Up.

Blind box

Users were collecting their NFTs from a blind box, meaning they purchased randomly without knowing what they purchased. They would only know what they collected/purchased after making payment.

Each Pixar piece was going for 60 gems (equivalent to $60).

Multiplying the number of collectibles by their unit prices, it is estimated that the total value of all the purchased NFTs was about $3.3 million.

Hours after the NFTs drop sold out, items on in the Pixar drop were selling for over 350 gems on the secondary market.

Veve NFTs marketplace

First, the Veve marketplace is a product of the ECOMI blockchain whose native token is OMI.

The NFTs dropped on the Veve NFTs marketplace are currently minted on GoChain blockchain, which developers claim to be fast, environmentally friendly, and completely compatible with Ethereum (ETH).

NFTs on Veve are traded using Gems, which are Veve’s in-app tokens. Gems are exchangeable for digital assets on a ratio of 1:1 to the dollar. Currently, it is not possible to directly convert Gems into fiat but the possibility of doing so is in the testing phase.

Since Veve is a product of ECOMI Gems are somehow connected to the OMI token. Whenever an NFT is bought using Gems, 100% of the equivalent value of OMI tokens is burnt while the purchased NFT is transferred to the account of the new owner.

It is important to note that OMI tokens can be converted into Gems but Gems cannot be converted into OMI tokens mainly because doing so would reduce the price of OMI.

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