Veröffentlicht am

Ankr’s (ANKR) bearish outlook continues as the coin struggles to escape major resistance

Ankr (ANKR) continues to show bearish signs and could remain on the downside for weeks. The coin is suppressed below several crucial resistance zones. It will take time and a significant change in sentiment for this overall bearish outlook to reverse. Here are some points:

  • ANKR was largely exposed to the UST collapse about a week ago.

  • UST’s recovery in recent days has however failed to translate into gains for ANKR.

  • The coin lost nearly 5% in the last 24 hours.

Data Source: TradingView

Will ANKR recover in 2022?

The long-term outlook for ANKR has always been positive. However, there is still a long way to go before the coin reaches any meaningful milestones. First, the biggest challenge will be to overcome the $0.041 resistance zones. At the moment, ANKR is roughly 15% away from this. 

However, we don’t see the token testing of $0.041 in the coming days. In fact, owing to the broader weakness in the crypto market, ANKR will likely retreat by at least 10% by the end of the week before its next leg up. This will push the token towards its next support of around $0.031. 

Now, here is where things might get interesting. If indeed ANKR consolidates above $0.031 for a few days, it may reverse the downtrend and test $0.04. But if bulls fail to hold that, then ANKR will likely bottom at $0.023 by the end of June.

Is ANKR worth buying?

Despite the price decline over the last few weeks, ANKR still retains very good fundamentals. In fact, the project recently announced a major partnership with the Tron Network. 

So, for the long term buyer, ANKR is a decent buy. However, wait a few weeks for the price action to retreat further. That way, investors can get an even bigger discount as they await a long term ANKR recovery.

The post Ankr’s (ANKR) bearish outlook continues as the coin struggles to escape major resistance appeared first on CoinJournal.

Veröffentlicht am

Three DeFi coins to buy by the end of May

DeFi has stagnated somewhat for most of 2022. Even though most projects in this area have shown a lot of promise, the price action for most DeFi coins remains very suppressed. This is of course a gloomy sign, but it also means that there are more opportunities for investors to take advantage of. Here is how:

  • Despite the slowed outlook in 2022, DeFi projects can still offer decent returns this year.

  • The slowed sentiment also suggests that coins have become significantly undervalued.

  • There is huge application potential for DeFi projects in the future

Now, finding a nice bargain in DeFi can often be confusing for the average investor. But here are 3 coins that should be ideal as a start.

Uniswap (UNI)

Uniswap (UNI) is a decentralised exchange that runs on the Ethereum network. It has in fact grown over the years to become one of the biggest DEX in the world. Also, over the last few weeks, the DEX has seen important growth milestones.

Data Source: TradingView 

For example, Uniswap crossed $1 trillion in trade volume the other day. Unique monthly users have also risen sharply. However, UNI is still trading very low. This undervalued nature means the coin can shoot up once sentiment in the market gets better.

Nexo (NEXO)

Founded in 2018, Nexo is a decentralised lending protocol that focuses on offering loans to those who need them. The platform has seen sharp increases in total loan volumes and is set to become one of the largest lending protocols in terms of market cap. The project still has a lot to deliver this year, so it should be a good buy.

BenQi (QI)

BenQi (QI) is also a lending protocol. It is one of the biggest DeFi projects on the Avalanche network. Since its inception, the project has attracted a lot of investments and continues to work on ways to improve its ecosystem.

The post Three DeFi coins to buy by the end of May appeared first on CoinJournal.

Veröffentlicht am

Top 3 metaverse coins to put in your portfolio

There is a lot of hype and talk about the metaverse and what it can bring to human interaction. Also, in the last few months, we have seen massive surges in metaverse investments. There is no doubt this is an industry that has so much to offer in the long term. Here is why:

  • The metaverse is offering new frontiers for content creators to reach new audiences.

  • The immersive experience offered by this virtual world will have so many applications.

  • Billions of dollars in institutional money are already flowing into metaverse projects.

Despite all these factors, finding decent metaverse investments that are truly worth your money is hard. But the three coins below should be a great start:

Ceek (CEEK)

Ceek is a robust metaverse platform designed for music and other live shows. The initial goal is to provide a platform for immersive virtual concerts and live music events. However, the project has been expanding its offerings in order to accommodate other types of creators.

Data Source: TradingView

There is a plan to bring in live sports and other acts as well. CEEK has already rolled out several virtual real estate on its platform, including virtual concert halls. It has also partnered with several major artists, including Lady Gaga and others.

Dreams Quest Origins

Dreams Quest Origins is an upcoming metaverse play-to-earn game set in a mystical virtual universe. The project is still under development but has so far released various teaser videos that suggest it has all the potential to be huge. The gameplay looks vivid, and the project already has big-name investors too.

DeFi Kingdoms (JEWEL)

DeFi Kingdoms is a fully integrated metaverse that includes both P2E gaming and decentralised finance as well. The game is relatively new but has been getting a lot of fans. The market cap is still low, so the chances of an epic rise are very high.

The post Top 3 metaverse coins to put in your portfolio appeared first on CoinJournal.

Veröffentlicht am

Litecoin (LTC) breaks below crucial support – What to expect next

should I buy litecoin

After days of trading sideways and showing very little appetite for trending upwards, Litecoin has finally broken below a crucial support zone. The coin is now facing a major downside and could crash over the coming days. Here are the main takeaway points:

  • LTC has broken below the crucial $64.34 support.

  • The coin is exposed to a 30% downswing as a result of this.

  • However, so far LTC is yet to decisively drop and could still regain this support this week.

Data Source: TradingView 

LTC price analysis: What to expect Next

At the moment, it doesn’t seem like LTC will crash. If anything, the bulls are trying to regain the $64 mark. The coin will need to gain around 5% over the next 24 hours to reclaim the support. However, although this may look like a simple thing, LTC has actually remained suppressed below that price for most parts of the day. 

We do not think there is enough buying activity in the market to push LTC above $64. As a result, we expect the coin to remain closer to the price at the end of the day but ultimately, LTC will not close above this price. 

This will trigger a decisive sell-off over the coming days that could see LTC drop by nearly 30%. The altcoin will eventually settle at around $51 in this bearish cycle before it tries to find its next run. But if more weakness follows and LTC loses $51, it could crash to $40.

How to trade this set-up?

The downside risk for LTC is significant right now. The best you could do is to wait a few days to see if bulls can regain $64 and keep the price action above it. 

But if you are looking to buy LTC for the long term, there will be an opportunity to get it cheap when it tanks to $51 or thereabout.

The post Litecoin (LTC) breaks below crucial support – What to expect next appeared first on CoinJournal.