Monat: April 2022

As we start a brand-new month, the crypto market has looked quite good in recent weeks. Investor sentiment is now very positive, and we are starting to see most coins recover the losses at the beginning of the year. So, April is shaping up as a good buyer’s market, and here is why:

• Most coins have bullish outlooks in the near and medium-term

• The fears surrounding the conflict in Eastern Europe and fed rate hikes are now priced in.

• Investors are ending the wait-and-see attitude and jumping back into the market.

With these factors in mind, we thought it would be great to create a list of possible altcoins that you can consider this April. Here it is:

Hedera (HBAR)

Hedera (HBAR) was one of the top-performing coins in the last two weeks of March. But we have seen a sharp fall ever since. This could suggest that the coin has in fact gone through the correction you would expect after a major rally.

Downside risks are therefore relatively low compared to other coins. For this reason, HBAR is a decent buy for April, and with improved sentiment in the market, it’s only a matter of time before it resumes its bull run.

Waves (WAVES)

Just like HBAR, Waves (WAVES) has also seen a substantial correction after an unprecedented rally. The coin has in fact lost around 46% over the last 7 days. Although this is not always a good sign, it’s still an expected outcome given the kind of rally we saw with WAVES.

Nexo (NEXO)

The good thing about Nexo (NEXO) is the fact that it’s been quite steady in recent weeks. Although the coin has surged upwards, it appears to be consolidating gains, and we have not seen any major sharp fall. This could suggest that there is more potential for more positive gains.

The post April Shopping list: 3 altcoins to consider right now appeared first on Coin Journal.

PancakeSwap (CAKE) has shown remarkable strength heading into April. The coin added nearly 60% of its value in the last two weeks or so. If this rise continues, CAKE could in fact flip a crucial overhead resistance zone into support. This will be a huge deal. Here are some of the details:

• CAKE has faced major resistance around $11 as it looks to maintain its upward trend.

• The coin has been rejected severally at that price and has since fallen sharply

• CAKE is likely going to try and target $11 in the coming days.

Data Source: TradingView 

PancakeSwap (CAKE) – Can $11 become support?

If bulls are able to transform the $11 resistance into support, then CAKE has the potential of seeing a major bullish breakout. The DEX coin has tried severally to break past this zone over the last few days but has been rejected firmly. 

As a result, CAKE has fallen sharply in fact, it was down nearly 13% over the last 24 hours. We expect CAKE bulls to try and retest the $11 mark in the days ahead. If indeed they are successful in smashing past it, then we could see the token hit $15 in the near term. 

This will be a gain of nearly 90% from its current price. But if $11 becomes a bridge too far for the coin, CAKE will likely fall back to $8.32 or thereabout before the next bull run.

Should you buy CAKE now?

Well, as a rule, you don’t want to buy any coin when it’s very close to resistance. The downside risks are just very high. A good play here will be to wait and see if the $11 is breached. 

If this happens, then you can buy in and ride the wave. Also, if CAKE is rejected at $11 again, wait for the pullback and enter at $6 or thereabout.

The post PancakeSwap (CAKE) can flip this resistance to support – Here is why this is a huge deal appeared first on Coin Journal.