Bitcoin und die Altcoins haben sich zuletzt gegen ihre Abwärtstrends gestimmt, aber insgesamt deuten die Vorzeichen nichtsdestotrotz auf weitere Verluste hin.
Cardano (ADA) set for a 40% upswing
Cardano (ADA) is set for a nice bump over the days ahead as it establishes a consistent price range. The coin has somewhat recovered some of the losses seen in the middle of May and could give investors more returns in the near term. Here are some of the details.
Over the past week, ADA has established a range of between $0.487 and $0.677
The coin is currently trading at the lower side of this range
ADA will likely trace $0.487 in the coming days before it shoots up again
Data Source: Tradingview
Cardano (ADA) – Price analysis or prediction
After bottoming in mid-May, ADA has seen some slight recovery. The coin has managed to return above $0.5 and appears to be consolidating. However, over the last week, ADA has established a consistent range.
As long as nothing drastic happens in the market, we expect ADA to retrace this range in the days ahead. This will deliver an upswing of around 35%. Besides, if bullish demand grows and ADA investors continue to hold the coin, we may say a decisive breakout towards $0.8.
But for now, a likely upside of at least 30% appears very likely. However, this analysis will become invalidated if ADA falls out of the range above and loses its $0.471 support. If this happens, the coin will likely fall towards $0.38 before it pulls up again.
Has ADA fully recovered?
ADA is yet to fully recover from the steep losses in May. The coin was above $1 just recently so there is a long way to go. However, from a long-term standpoint, the outlook for Cardano is very robust.
For this reason, investors keen on accumulating the coin for the long haul should do it now when the price is heavily discounted.
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Fantom (FTM) jumps 6%: Github data shows Andre Cronje coding for Fantom stablecoin
Fantom native token, FTM, has surged by more than 6% today after Andre Cronje, one of the most prolific DeFi developers, was spotted doing some coding for the Fantom stablecoin platform.
Github data revealed the coding of the developer sparking an intraday FTM price rally from a low of $0.3243 to a high of $0.3755 outpacing all the top 100 cryptos.
At the time of writing, FTM was trading at $0.3599 up 6.78% in the last 24 hours.
Cronje back to the crypto space
Earlier in March, Cronje and Anton Nell announced that they have left Fantom and the crypto space at large. Their announcement caused a sharp sell-down of the token from which it had been struggling to recover.
Additionally, earlier in April, the developer declared in a blog post that “crypto is dead,” calling for more crypto regulations. He had also said that he had no intentions to come back to the crypto space but his Linkedin profile shows that he is currently heading an investment banking platform.
However, his return comes amid troubled times when FUSD, Fantom’s stablecoin, has been de-pegging gradually in the past week and is yet to recover. Its de-pegging comes after Terra UST also de-pegged from the US dollar making investors more skeptical about stabelcoins.
Working on the Fantom catastrophe
Cronje seems to be working on the Fantom FMint protocol, a platform on which FUSD is minted. The move comes amid the market pressure that has de-pegged the FUSD stablecoin, besides, the changes that Fantom introduced to its stablecoin mechanism also seemed to have tumbled FUSD, which is still below the $1 peg ($0.7013, down 12.74%).
New FIP out!
Read on to learn about proposed changes to sFTM and fUSD.
Addressing:
– liquidations
– how to repay outstanding debt
– LTVs and minting limitsWe welcome everyone to leave comments on Github.
— Fantom Foundation (@FantomFDN) May 20, 2022
The protocol did outline some of the measures they will take to maintain the position through the stablecoin but did not specify the time it will allow position covering.
FUSD interest rate is expected to rise but according to the gradual FUSD de-pegging, it seems that the traders are not yet convinced by the move.
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Bitcoin’s Jumps above $30,000 could be a short term
Bitcoin (BTC) has managed to jump back above $30,000 after falling sharply in the last few weeks. There is hope the mega-cap coin is finally back on an upward trajectory. However, technical analysis does not support this and in fact, the surge could be a dead cat bounce. Here are some highlights:
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Bitcoin is struggling to keep the momentum going above the $30,000
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The coin will need to advance above $30,800 before any decisive run
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It is likely BTC will fail to reclaim the $30,800 and fall sharply thereafter
Data Source: TradingView
Why Bitcoin will fall below $30,000
The $30,000 price is psychologically important for Bitcoin. In fact, when the coin fell below it, there were fears that it could unravel to $20,000. But Bitcoin has recovered and has finally regained $30,000.
Although this could be the start of a prolonged recovery, there is still a long way for BTC to go. Based on technical analysis, the coin will need to regain the $30,800 support. So far, it’s struggling to hit the mark. We don’t think BTC has enough bullish momentum to reach that price.
Also, the rally this week could be driven by short-term dip buyers. It is likely that they may start cashing in once they realize the upside above $30,000 is limited. Eventually, BTC will likely drop in the short term and could retrace losses towards $26,000 before another leg up.
Are Whales accumulating Bitcoin?
Interestingly, most big wallets are invested in Bitcoin for the long term. In fact, large wallets have added more Bitcoin during the may dip.
For this reason, BTC is likely to remain relatively stable in the short term. The coin could still find its ATH this year but we will have to wait and see if sentiment improves.
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Top coins to buy as we enter the second half of 2022
2022 appears to have simply flown by so fast for most crypto investors. The market has not delivered as expected, but we have not seen any major crashes. As we enter the second half of the year, there are some opportunities to make good money. Here is why:
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Most coins have failed to really break out and remain heavily discounted.
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The second half of the year could bring a change in fortunes as more investors enter the market.
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The overall outlook for many coins is still good, even with the slump during the first half of 2022.
So, we decided to create a list of two coins that we think could blow up in the final half of 2022. Here they are:
Polygon (MATIC)
At the start of 2022, one coin that was earmarked for great things was Polygon (MATIC). Analysts all over felt that the altcoin would challenge major projects like Ethereum and Solana. This was after MATIC had delivered insane gains for investors a year earlier.
But flash forward six months into 2022, and MATIC has fallen sharply. At the moment, it’s very difficult to see how the altcoin will live up to the high expectations set at the start of the year. But we believe Polygon and its fundamentals will be good enough to attract more buyers. As such, MATIC could offer up to 4x growth from the current price.
Cosmos (ATOM)
One thing we love about Cosmos (ATOM) is its incredible resilience. Yes, the coin has suffered losses this year. But compared to the rest of the market, it has actually managed to fend off major sell-offs.
We also think the coin is significantly undervalued, especially when you look at its roadmap and the vision it has for the future. For this reason, ATOM is highly recommended for the rest of the year.
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