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Is Decentraland (MANA) out of the woods yet? Indicators appear to suggest NO

Metaverse and blockchain gaming tokens have been hit hard in the recent crypto slump. Decentraland (MANA) is not any different. The token has seen a sharp decline, and even though it has been rallying in recent days, MANA is still not yet out of the woods. Here are some highlights:

  • At the time of writing, the coin was up by nearly 10% in 24 hours, trading at around $2.06

  • But indicators still remain bearish and in fact, the recent gains will slip away as MANA is expected to dip towards $1.46.

  • However, we are watching to see how long the price can sustain above the next support level of $1.92.

Data Source: Tradingview.com 

Decentraland (MANA) – Bear pressure still remains

The key in the recent price action is the 200-day simple moving average of $1.92. Yes, MANA is right now trading above this. However, due to recent volatility in the broader crypto, it is highly unlikely that the metaverse token will sustain gains well above that threshold. 

If anything, analysts expect it to slide past $1.92 and find the next support of $1.46. This will represent a 28% wipeout compared to prices today. 

If the coin fails to consolidate at $1.46, bears will target $1.01 in what will be a sharp fall for the token. But all this depends on how well sentiment picks up in crypto in the coming days.

Why you should still buy Decentraland (MANA)

Metaverse tokens will heat up in 2022 and beyond. We expect more and more such tokens to come out but no doubt, Decentraland, and a few others remain key pioneers in this space. 

It’s therefore a decent coin to own. But we have always felt that these tokens are overpriced. The recent crypto correction offers the perfect chance for fair pricing and for investors to indeed buy in.

The post Is Decentraland (MANA) out of the woods yet? Indicators appear to suggest NO appeared first on Coin Journal.

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Here is why Litecoin (LTC) could drop to $95 despite a bullish run in today’s trading session

Litecoin (LTC) has started today’s trading session on the green. After seeing a slump over the past few weeks, the coin appears to be rallying. But despite this, Litecoin (LTC) still remains highly volatile, and it could slide back to $95 in the near term. Here are some highlights though:

  • At the time of writing, Litecoin (LTC) was trading at $107.77, up by about 5% in 24-hour intraday trading.
  • The coin appears on course to retest its overhead resistance of $112 in the coming days.
  • However, other indicators suggest that Litecoin (LTC) could fall back to $95 before it rallies again.

Data Source: Tradingview.com 

Litecoin (LTC) – Price predictions

For the most part of 2022, Litecoin (LTC) has been in the bear market. But despite this, the token did manage to hit highs of $152 this year in an unusually strange bullish surge. 

As it turned out, this was a short-lived run because we have seen a consistent decline. Litecoin (LTC) is now trading at $107, up about 5% in 24 hours. We see the token retesting the $112 resistance, but it is highly unlikely it will break that. 

As a result, more downward pressure is coming, something that will push it back to its $95 support. Besides, sentiment in the crypto market remains very sluggish even though it has slightly improved over the last few days.

Should you buy Litecoin (LTC)

The big answer is Yes. Litecoin is one of the most notable tokens out there with incredible fundamentals. It has also shown great consistency in terms of growth. 

So, for folks who want decent coins for long-term value, Litecoin (LTC) will always be top of the list. But recent bear pressure has wiped out a lot of value here. With the price action expected to swing further down, it would be best to wait a few days before getting in.

The post Here is why Litecoin (LTC) could drop to $95 despite a bullish run in today’s trading session appeared first on Coin Journal.

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Binance Coin (BNB) consolidates at $350 – Is a bullish rally now on the cards?

After a choppy start to the year, Binance Coin (BNB) appears to be consolidating the price action around $350. The coin may be poised for a bullish rally. But downside risks remain quite real with sluggish sentiment in the market and a risk-off approach among investors. But can Binance Coin (BNB) actually rise once more? Here are some highlights:

  • Since the start of the week, Binance Coin (BNB) has lost nearly 30% albeit some of those losses are recovering.

  • The coin is also trading at around 50% from its all-time high in what has been a major decline.

  • But consolidation around the $350 mark may suggest that more bullish action is coming in the near term.

Data Source: Tradingview.com 

Binance Coin (BNB) – Fingers crossed for a bull run

The $350 mark has been one of the strongest support levels for Binance Coin (BNB). The price has been tested before and held strong. At the time of writing, BNB was trading at $370, up 6% in 24 hours. 

As long as the price action plays out above that threshold, then we will likely see a bullish rise that could end BNB past $400. 

However, if bulls cannot defend this position, then an ensuing sell-off will test the next support of $340, something that could put BNB to lows of nearly $200. Besides, downside risks in broader crypto remain quite pronounced with expected volatility in the near term.

Why this is the perfect time to buy Binance Coin (BNB)

There was a time not long ago when Binance Coin (BNB) was trading at well above $500. The recent market crash has given investors a nice dip to buy one of the most prominent crypto assets in the world. So, if you don’t own BNB yet, you will need to get in at $350 or thereabout right now.

The post Binance Coin (BNB) consolidates at $350 – Is a bullish rally now on the cards? appeared first on Coin Journal.

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Terra (LUNA) finds support at $65 – Are bulls ready to push this to $75?

Despite the general carnage in crypto over the last week or so, Terra (LUNA) has remained one of the most resilient coins. The token is now finding strong support at the $65 mark and appears to be on a consolidation phase. But can bulls push the price action towards $75? Well, here are some highlights first:

  • Despite falling slightly by around 2%, Terra (LUNA) still is still trading around the $65 mark.

  • The momentum oscillators show that the token is oversold, suggesting little room for any serious sell-off.

  • LUNA has shown great resilience, surging from lows of $37 recently to hitting $65 in price.

Data Source: Tradingview.com 

Terra (LUNA) – Will it head to $75

Multiple signals appear to suggest that we may have seen a trend reversal in LUNA’s price action. After falling from recent highs of around $90, the token is now getting strong support and consolidation at $65. 

This makes LUNA a prime target for bullish action that could send the price to $75 at the very least. We are also closely looking at momentum oscillators that appear to show an oversold asset. This may indicate that a major sell-off is at the moment not on the cards. 

For these reasons, we expect a corrective bounce in the price that will at least push the price action further above. However, with the crypto market still showing signs of volatility, further downward pressure is still possible.

Is LUNA a decent investment?

Terra is one of the fastest-growing blockchains in the world. It has seen superb gains over the last few years and promises to dominate the crypto market in the future. For any serious crypto investor, this is a must-have token. The fact that it is trading nearly 50% from all-time highs means that you can get in at a decent bargain.

The post Terra (LUNA) finds support at $65 – Are bulls ready to push this to $75? appeared first on Coin Journal.

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Laut Fundamentaldaten & Korrelationsmodellen ist Bitcoin unterbewertet

Perianne Boring, Geschäftsführerin der Chamber of Digital Commerce, sagte gestern gegenüber CNBC, dass Korrelationsmodelle darauf hindeuten, dass der tatsächliche Wert von Bitcoin zwischen 50.000 und 100.000 USD liegt.

Die Gründerin und Präsidentin der Chamber of Digital Commerce, Perianne Boring, ist die jüngste Persönlichkeit, die behauptet, dass Bitcoin trotz der Volatilität der Kryptomärkte derzeit unterbewertet ist.

Während eines Interviews mit CNBC Squawk Box am Montag riet Perianne Boring den Anlegern, sich auf den zugrunde liegenden Wert von Bitcoin zu konzentrieren und nicht auf seine Preislage..

Mehrere Faktoren stützen ihre These

Perianne sagte, dass die Fundamentaldaten von Bitcoin echte Stärke zeigen und dies ein Beweis dafür ist, dass der Vermögenswert nicht richtig bewertet ist. Sie wies darauf hin, dass Bitcoin derzeit mit einer höheren Rate wächst als andere technologische Elemente – das Internet während des Booms der späten 90er und frühen 2000er Jahre.

Sie fügte hinzu, dass andere Facetten von Bitcoin, wie die blühende Hashrate (derzeit auf einem Allzeithoch), weitere Indikatoren für den unerreichten Wert von Bitcoin sind.

Darüber hinaus stellte Perianne fest, dass professionelle Krypto-Investorenmodelle, die stark mit Bitcoin korrelieren, Bitcoin derzeit im Bereich von 50.000 bis 100.000 USD platzieren.

„Es gibt eine Reihe von Modellen, die professionelle Krypto-Investoren heute verwenden. Heute liegen sie alle zwischen 50.000 und 100.000 USD pro Bitcoin. Diese Modelle sind zu über 90 % korreliert und sie sagen uns, dass Bitcoin unterbewertet ist“, sagte sie.

Die CEO erklärte auch, dass der aktuelle Zustand, in dem die Marktpreise eine Volatilität von bis zu 50 % aufweisen, nichts anderes als erwartetes Verhalten sei.

„Volatilität ist nicht unbedingt eine schlechte Sache, und es ist normal, in jedem Monat eine Volatilität von 30-50 % auf den Kryptomärkten zu sehen. Die Märkte verhalten sich genau wie erwartet“, erklärte Perianne.

Null“ als Antwort nicht akzeptieren

Angesichts der jüngsten Kurseinbrüche an den Märkten und der Behauptungen von Kritikern, dass Bitcoin auf Null sinken könnte, vertrat Perianne die Ansicht, dass solche Behauptungen unzutreffend seien, da Bitcoins Fundamentaldaten ihn über Wasser halten würden.

„… trotz der Tatsache, dass der Preis gesunken ist, sind die Fundamentaldaten des Netzwerks so stark wie eh und je“, fügte sie hinzu.

Auch wenn die Anleger in den ersten Wochen des Jahres das Schlimmste hinter sich haben, bleiben die Strategen optimistisch, was den weltweit führenden Kryptowährungs-Coin angeht. Die Marktanalysten sind der Meinung, dass die Volatilität an den Märkten Routine ist, während Bitcoin seinen Wachstumspfad beschreitet.

Im vergangenen April prognostizierte Perianne, dass der Coin vor Jahresende 288.000 USD erreichen würde. Die CEO erklärte damals, dass die Vorhersage auf dem Stock-to-Flow-Modell basiere.

Im selben Interview prognostizierte sie auch, dass Bitcoin in Zukunft stark skalieren und kontinuierlich Gold fressen würde, sodass bis 2029 ein Bitcoin 10.000 Unzen Gold wert sein würde.

The post Laut Fundamentaldaten & Korrelationsmodellen ist Bitcoin unterbewertet appeared first on BitcoinMag.de.