Monat: Mai 2022

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Three coins that could double in price in the coming weeks

The crypto industry always has its highs and lows. While 2021 was the year of highs, in 2022 things have not really kicked the way we hoped. For this reason, it can be quite hard to find unique coins that have the potential to deliver superb gains. But here is why this is the perfect time to buy:

  • The market has dipped significantly, so most coins are selling cheap

  • The likelihood of a relief rally after months of decline is very high

  • As other asset classes also fall, investors may look into crypto to diversify their portfolios

So, in case you are searching for projects that can deliver at least 2x growth in the coming weeks, these three below should be great.

VeChain (VET)

VeChain, like most coins in the market, has simply crashed from its all-time highs that we saw back in 2021. In fact, the coin is more than 10x cheaper than it was at the time. This creates a very decent dip that could provide some good opportunities for growing your investment. 

Data Source: TradingView

Now, we are not suggesting that VET will somehow regain its ATH in a few weeks. But this is one project that still has the potential to grow by at least 2x in the near term.

Decentraland (MANA)

We have also seen many metaverses and P2E gaming tokens fall further this year. In fact, at the turn of 2022, MANA boasted a market cap of around $5 billion. That value has since dropped massively to around $1 billion. At one point, MANA even went below the billion mark. We expect the coin to rebound though, and at least hit $2 per coin.

ThorChain (RUNE)

ThorChain has often been an underrated project. It has so much to offer and yet the price action has never reflected this. The recent decline also means that RUNE is now heavily discounted. When the market rebounds, it is likely to see additional gains too.

The post Three coins that could double in price in the coming weeks appeared first on Coin Journal.

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Floki Inu (FLOKI) sees a steady resurgence – Is a trend reversal coming?

Floki Inu (FLOKI) has seen quite some resurgence over the last two weeks or so. The coin is looking strong right now after smashing past several resistance zones. There are hopes that this could be a decisive trend reversal after weeks of decline. But how far can Floki actually go? Here are some highlights:

  • FLOKI had seen gains in 3 straight sessions before retreating yesterday

  • The coin has now added 65% in value in less than 10 days

  • This uptrend looks strong and is set to continue in the coming days

Data Source: TradingView 

Floki Inu – Why a trend reversal is unlikely

Although all signs appear to point to the fact that Floki is reversing the trend, it’s important to note there are many risk factors that could easily suppress the price. Besides, FLOKI has fallen nearly 90% from its ATH and is on a bearish trend year on year. 

While a 65% gain in 10 days is quite impressive, it is likely a result of the short-term dip-buying activity. Soon enough, Floki Inu buyers will start to lock in profits and as such, we expect the coin to retreat further. Also, from a long-term point of view, the coin continues to face increased regulatory challenges in the UK after its ads were deemed unethical. 

Floki could still deliver some 2x growth in 2022. But for now, the uptrend we are seeing will slow, and the coin will decline sharply.

Why is Floki risky right now?

Most meme coins have seen major sell-offs this year. In a market filled with uncertainty, a lot of investors will obviously offload risk assets, and meme coins are in that category. 

So, unless we see conditions improve in the broader crypto industry, holding FLOKI for long could be a big blunder. But there are of course many short-term plays for speculative traders.

The post Floki Inu (FLOKI) sees a steady resurgence – Is a trend reversal coming? appeared first on Coin Journal.

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Chainlink (LINK) struggles to rally despite important ecosystem updates

Chain Link Image on a cell phone

Chainlink (LINK) has often marketed itself as the platform that will ultimately democratize the blockchain. The coin has had better days no doubt. But in 2022, the price has remained suppressed for the most part. This comes even as LINK continues to report impressive ecosystem updates. Here are some notable developments:

  • Chainlink adoption continues to surge in 2022, with more integrations expected this year.

  • Cross-chain activity has also increased for LINK in recent weeks.

  • Despite this, LINK’s price has failed to rally more than 10% month on month in 2022.

Data Source: TradingView 

Why are ecosystem updates not pushing LINK?

In a normal market, you would expect such important ecosystem news to have a huge impact on the price. In fact, announcing more integrations would have at least given LINK a boost of 20% in a single month. But this is not a normal market. 

In 2022, we have seen very high volatility and slowed investor sentiment. As such, even though underlying fundamentals for LINK remain solidly good, the risk-off sentiment means that investors are just biding their time before they decide to buy. Also, there are other concerns regarding LINK.

For example, the project is facing massive competition from other newer entrants. Chains like Solana and Polkadot are raising the bar when it comes to scalability and access. As such, it seems investors are starting to spread out their money as they try to cash in on every new project. This puts LINK at a disadvantage.

Can LINK still deliver good returns?

It’s worth noting that LINK hit an all-time high of $57 a few months ago. The coin is now trading at a mere fraction of that.

Although we do not anticipate LINK hitting its ATH this year or even getting close, there is still some potential for a decisive profit for those who buy now. In fact, it is possible that you could 3x your money by year’s end.

The post Chainlink (LINK) struggles to rally despite important ecosystem updates appeared first on Coin Journal.

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Ethereum (ETH) could target $2400 despite falling below $2000 again

Ethereum (ETH) has fallen below $2000 once again. The coin had managed to post some gains after bottoming at $1700 a few weeks ago. However, that upward momentum has slowed, and we may see some decline. But this is not necessarily something to worry about. Here are some key points:

  • The recent decline below $2000 doesn’t appear to be strong

  • ETH will likely rebound almost instantly in a few days

  • The coin will regain $2000 and trigger a buying frenzy that pushes ETH to $2400

Data Source: TradingView 

Ethereum price analysis and prediction

After falling to $1700 just two weeks ago, ETH has managed to hold out. There were worries that the coin would touch $1000 in what could have been its worst downtrend this year. However, ETH quickly recaptured $2000 but has since lost it again. In fact, over the last 7 days, the coin has struggled to maintain the price above the $2k mark. 

However, we expect this time round things to be different. Although ETH is slightly below $2k, the coin will likely regain this important threshold in the days ahead. This will send a crucial bullish signal that will likely trigger demand for ETH. The coin will shoot up to $2400 before it slows. 

But there are some important risks. For example, if the current fall below $2000 turns out to be more serious than expected, this thesis becomes invalidated. If anything, failure to hold the $1800 support could push ETH toward $1500 in the short term.

How to profit from ETH in the short term?

The long-term value of Ethereum has never been in doubt. But short-term volatility will be here for the rest of the year. 

The best way to profit right now is to buy once the price consolidates above $2000. But if you are not sure about the possible risks, you can watch the coin and see if it breaks $1800. Once this happens, $1500 will be a great entry point.

The post Ethereum (ETH) could target $2400 despite falling below $2000 again appeared first on Coin Journal.

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A bear market is a marathon- prepare yourself: analyst

It’s never financial advice and doing your own research before investing is the way to go. But then again, what does DYOR mean? 

Well, it might mean learning to navigate the market with the help of lessons others have learned along the way.

One such lesson could be how to survive a bear market. In crypto, there is a pseudo-written rule for this – no matter what HODL.

According to crypto analyst Ran NeuNer, that is the trick. However, it takes patience. In comments shared on Tuesday, the analyst says rushing a bear market might only yield one result – you get wiped out. Here’s where he opines:

Remember that “a bull market is a sprint [while] “a bear market,” with all the pain, “is a marathon.”

That’s not all. In a bear market, it’s pointless to keep checking prices and Crypto Twitter might not be your friend.

As Binance CEO Changpeng Zhao observes, projects need to use the bear market to build. For an investor, this is the time to check out projects, focusing on their fundamentals, NeuNer notes. 

Seasoned investors will also tell you that a bear market provides for a buy-the-dip opportunity. However, it pays to be careful as this is also the time the market gets literally flooded with meaningless tokens targeting new investors.

The post A bear market is a marathon- prepare yourself: analyst appeared first on Coin Journal.