Monat: Juli 2022

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Should you buy Avalanche token as the price turns bullish at key support?

  • Avalanche’s AVAX crashed as the Luna contagion risks hit the cryptocurrency.

  • Buyer interest in AVAX is high at the $16 level.

  • Investors should consider buying at low prices.

Avalanche AVAX/USD is one of the cryptocurrencies that crashed alongside LUNA. The cryptocurrency fell by double digits at the same time LUNA and UST crashed. Investor fears grew since Avalanche was one of the cryptos held as reserves by the Luna Guard Foundation. Following the crash, AVAXtouched a low of $16 on June 13 from a high of above $100 in early April.

Avalanche’s token AVAX should be on the bucket list of investors. The cryptocurrency has been robust since June 13, holding a key zone at $16. Whether this indicates a price bottom is yet to tell as the crypto sector remains bearish. Nonetheless, the month-long consolidation suggests buyer interest. As such, we believe AVAX is attractively priced for a good buy. 

Avalanche looks set to break past $21 for a bull rally

Source – TradingView

From the technical outlook, AVAX is consolidating. However, it is slightly bullish, with 24-hour gains of more than 6%. The MACD indicators are bullish too. At the current price of $18, we expect AVAX to continue rising. The $21 resistance will hold back the price, with the cryptocurrency testing the level twice in 30 days. If AVAX overcomes the $21 resistance, it could end its bearish market and begin a bullish rally. Investors should consider buying now to lock value before the market takes off.

Concluding thoughts

The crypto sector remains bearish. At the low valuation of AVAX, we think it is a good buy for long-term investors. Buyer interest is high at the $16 support and could offer a bullish catalyst. AVAX could begin a lasting bullish reversal if it clears the $21 level.

The post Should you buy Avalanche token as the price turns bullish at key support? appeared first on CoinJournal.

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Buy Fantom as memes pump volumes and prices into the market

  • Fantom foundation promises speed, security, and scalability ecosystem for dApps.

  • The token has been bullish over the last two weeks, and volumes spiked by 65% in 24 hours.

  • We think Fantom is a buy.

Fantom FTM/USD token is trading at $0.23687. In the last week, the token gained by more than 14.77% after gaining by 8.59% in the previous week. The thing that attracts the attention of enthusiasts is a 65.62% increase in traded volumes over the last 24 hours. This analysis asks why.

There is a real use case for Fantom as the token takes on BTC. The smart contracts platform promises speed, security, and scalability. The ecosystem targets the hard-to-convince central banks with CBDCs. Data-intensive organizations are also targeted. Though an uphill task, there is real hope that Fantom may eventually crack the market.

The recent increase in traded volumes is believed to emanate from meme investors buying the dip. The token is considered to have hit the bottom. From there, the expectation is rallying to the moon. One fact that is clear about this token is the high likelihood of being driven by memes. Those against South Korean-backed tokens will be battling it out against the rest. The price and volumes will be volatile.

Fantom has a strong bullish outlook

Source – TradingView

FTM has continued to reduce the divergence of the MACD from the signal. Though the MACD is still below the oscillator, it has been bullish. The RSI at 33 shows the token near the oversold zone. Added to the fact that the token seems to trade at the bottom, a bullish outlook is reinforced.

Summary

Fantom is set for a bullish trend as comments about the token drive the valuation. The volumes spiked by 65% over the last 24 hours. The valuation can be expected to follow suit for this smart contract ecosystem.

The post Buy Fantom as memes pump volumes and prices into the market appeared first on CoinJournal.

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Moto Genesis NFT Collection launched: Wilder World (WILD) token price surges

Metaverse crypto coins are continuously building their ecosystems; something that has made them remain popular even as the general crypto market continues to trade sideways. Wilder World (WILD) cryptocurrency is one of such metaverse tokens.

The Wider World (WILD) token has surged by over 30% today following the release of the Wilder Moto Genesis NFT collection on July 12.

At the time of writing, the WILD token was trading at $0.2716 and had hit a daily high of $0.2751.

Wilder Moto Genesis NFT Collection

The Wilder Moto Genesis NFT Collection that was released by Wilder World on July 12 featured 6,396 Moto NFTs. The Motos are envisaged to get new homes in the Wiami garages in the hands of top collectors and wheel racers.

The NFT collection is part of the broader Wilder Genesis Rewards Program that was launched to reward genesis Wheel NFT holders. They are similar to the tokens that ApeCoin airdropped to the holders of BAYC NFTs.

Wilder World is simply awarding the purchasers of the Wheels NFT collection.

Getting a Moto NFT

Those with the Genesis Wheels NFTs can get the Moto NFTs by going to the Wilder World website, connecting their wallets, and finding out whether they qualify to claim a Moto NFT. The claiming period lasts up to July 19th.

Those without the Wheels NFTs and still willing to purchase the Moto NFTs can head to OpenSea and purchase Wilder Moto at a floor price of 0.7 ETH.

It is important to note that the Wilder Moto NFTs are currently mystery boxes and will only be revealed after July 19th. Currently, the NFTs appear as black and white see-through designs.

What is Wilder World?

Wilder World is a leading metaverse and NFT project that was launched in May 2021. It is building its Metaverse using the Epic Games’ latest Unreal Engine 5 which ensures high-quality graphics and an engaging experience.

Wilder World aims at creating an RPG-themed ecosystem in the metaverse that allows users to own virtual real estates, customize characters, and drive vehicles among many other things.

While Wilder World is all about NFTs, it has a native utility token by the name WILD, which is an ERC20 Ethereum-based token. WILD is the primary asset for purchasing NFTs within the Wilder World ecosystem and it can also be traded on several crypto exchange platforms.

The post Moto Genesis NFT Collection launched: Wilder World (WILD) token price surges appeared first on CoinJournal.

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Is Stellar Lumens good crypto to buy now after the recent dip?

  • Stellar Lumens is 87% below its ATH.

  • The cryptocurrency brings together the global financial systems to blockchain.

  • Stellar token XLM is yet to find a bottom.

Stellar Lumens XLM/USD trades slightly above $0.1. Compared to its all-time high of around $0.79 in May 2021, that represents a decline of 87%. This thesis answers the key question of whether investors are good at buying Stellar Lumens at low prices.

Stellar Lumens prides itself on being an open network for safe custody and transfers of money. The platform simplifies the process used to create, transfer, and trade all forms of digital money. That also includes dollars, pesos, and Bitcoin. The network aims to enable all the global financial systems to work together.

Undoubtedly, as digital payments grow, Stellar Lumens will follow suit. This was evident early last month when Novatti Group onboarded Stellar for a new stablecoin. Stellar, alongside Ripple, was selected by the international payments network for the project. The stablecoin will be pegged to the Australian dollar. Last year, Stellar also partnered with payments giant MoneyGram. The partnership will let customers convert their digital money into cash. Such developments highlight the vital role of Stellar and its native token XLM in blockchain.

Stellar Lumens continue downtrend

Source – TradingView

From the weekly chart, Stellar Lumens is yet to find a bottom price. An RSI reading of 31 suggests the cryptocurrency is oversold. However, the token is yet to find support which currently sits at $0.07. We do not think it is yet time to buy Stellar Lumens, although the current level remains attractive. The price will potentially slide lower to find the next support at $0.07.

Summary

Stellar Lumens lacks a catalyst for a potential rally. The cryptocurrency remains viable in line with the growth in digital payments and blockchain. The recent plunge may continue until the cryptocurrency reaches $0.07.

The post Is Stellar Lumens good crypto to buy now after the recent dip? appeared first on CoinJournal.