Kategorie: Altcoin News

There are two types of crypto investors. The first category of investors is those who buy crypto to hold for long periods of time. There is also an army of traders who buy and sell crypto within days or weeks. Either way, everyone wants to make some return on capital. Here is why short-term trading for crypto makes sense:

• Crypto assets are highly volatile, allowing for quick returns with the right entry price

• Many exchanges today offer leveraged crypto derivatives trading

• There is a huge variety of legit coins to buy and sell after a short time.

If you are looking to earn short term profits in crypto, the coins below should provide some outstanding options:

Algorand (ALGO)

Algorand (ALGO) is ranked among the top 50 crypto coins in terms of value. After a period of decline, the coin appears to be back on an upward trajectory once more. We expect this uptrend to continue this week.

Data Source: TradingView

In fact, ALGO will likely return around 10 – 15% before the end of the week. So, for short-term buyers, you can enter at $0.4 or thereabout. Exit once you are 10% on the green.

ApeCoin (APE)

Apecoin, a popular NFT-backed coin, started trading just a few weeks ago. It has managed to shoot up to a market cap of around $2.4 billion. However, we think APE still has a lot of downside risks. 

At the moment, the coin is trading at around $8.23. It’s below a crucial resistance zone of around $8.8. The coin will try to test this resistance in the days ahead. However, it is likely to be rejected and fall back to $6. Short it for a week or so.

There are also a few other coins you can consider for short-term plays. A buy for Decentraland (MANA) looks good, while a short-sell for Tezos could also offer decent returns.

The post Top coins to buy for quick short-term gains appeared first on Coin Journal.

Cronos (CRO) is starting to attract growing demand after selling off in recent weeks. The coin appears to have a significant upside for more gains this week despite slowing investor sentiment in the market. CRO has now established a bullish setup with potential double-digit gains in the short term. Here are some crucial pointers:

• CRO has managed to overcome the crucial $0.202 resistance zone in the last 24 hours

• This could trigger a decisive break that will settle at $0.249

• CRO will however need to close above $0.173 today for this thesis to hold

Data Source: TradingView 

Cronos price prediction and analysis

May hasn’t been good for CRO and its investors. The coin has fallen from its highs of $0.5 to below $0.2, a loss of around 60% in two weeks or so. But it is clear that the worse is over for now. We do not anticipate any major sell-offs for CRO in the days ahead. 

If anything, the coin is likely going to consolidate above $0.2. This comes after CRO managed to turn this crucial resistance zone into support. If indeed CRO bulls are able to keep the price above $0.2 by the close of trading today, we will see a decisive run that takes the coin towards $0.249. This will represent a gain of around 20% from the current price. 

However, downside risks still remain. If CRO fails to hold $0.2 and falls below $0.17, then this bullish setup will be invalidated. Instead, the coin could crash to $0.139 before its next run.

Should you buy CRO for the long term?

The short-term outlook for CRO is positive. But it also comes with significant downside risks. If you plan to profit from this coin, a long-term play is indeed worth it. 

We expect CRO to return to $0.5 in the coming weeks and even surge further by the end of the year.

The post Cronos (CRO) could rally by at least 20% over the coming days appeared first on Coin Journal.

Fantom (FTM) is trying to reverse its downward trend after falling sharply over the last two months. The coin has stabilized and is looking to begin a steady upward rally to try and recover some of the losses. However, this bullish outlook remains very short term. Here are the facts:

• FTM has lost nearly 90% in value over the last 7 weeks.

• The coin is however showing signs of an instant trend reversal after 24-hour gains of around 16%.

• Fantom remains below crucial DMAs, suggesting more weakness could come.

Data Source: TradingView 

Fantom (FTM) – How far can it rally?

After shedding a lot of value over the last few weeks, FTM has shot up almost instantly. There are signs that the long-term downward trend is reversing, and more gains could come in the coming days. However, Fantom still remains pressured under several resistance zones. 

While it is now testing $0.5, we don’t see any further upside above $0.6. Besides, FTM has managed to lift itself up quite substantially after bottoming at $0.27 in Mid-May. In fact, the coin has added nearly 50% in value from its lowest price this month. It is likely that this decisive upward run will lose momentum in the days ahead. 

As such, we expect FTM to remain below $0.5 at least for another week. However, if fantom bulls can somehow pull off a miracle and smash past the $0.6 resistance, FTM could surge towards $1 by the end of the month.

Should you buy FTM?

FTM has largely underperformed the entire market. Although most major coins are down in 2022, Fantom has reported sharper declines partly due to major ecosystem news. 

But this does not change the fact that Fantom remains a very decent crypto project. So, even though the prices right now are unpredictable, FTM still has so much value to offer in the longer term.

The post Fantom (FTM) stabilizes after falling nearly 90% in less than 2 months appeared first on Coin Journal.

Solana has shown some strong signs of recovery over the last 7 days. After seeing sharp sell-offs for most parts of May, the coin has managed to regain several support zones. It also looks like SOL has enough momentum to keep pushing further ahead.

• SOL has crucially surged past the important $44.15 support zone

• The coin is now above $50 for the first time in two weeks

• Sustained consolidation at $50 could trigger a run towards $80 in the near term

Data Source: TradingView 

Solana (SOL) – recovery and price consolidation

Solana had failed to rally for most of May. The altcoin in fact saw one of its worse sell-offs this month. However, there is some recovery. In fact, SOL has steadily gained ground and is now converting previous resistance zones into strong support. But more importantly, SOL has now etched above $50. 

This provides the perfect buy zone for bulls, something that could easily push SOL up by 50% in the coming week. Despite this, the coin is still way behind projections for 2022. SOL has also lost at least 85% from its ATH of $261. 

Projections for 2022 estimated that SOL would likely hit $2000 by year’s end. But slowing sentiment in crypto and increasing market volatility have made it hard for the altcoin to post any decent upward momentum. We do not expect this to change soon. Although a 50% rally towards $80 is possible, it will take months for SOL to break above $150 once more.

How to profit from this SOL rally

Right now, SOL is slightly hovering above $50. Give it 24 hours and if the price action is still above fifty bucks, consider buying. 

In a few days, the altcoin will likely break out. If you don’t want to hold it for the long haul, you can cash out at $70 to avoid any major upside risk.

The post Solana (SOL) could surge by 50% in a quick relief rally appeared first on Coin Journal.

With investor sentiment in crypto taking a more risk-off approach in the last 6 months, meme coins like Shiba Inu (SHIB) have suffered the most. In fact, SHIB has been on a long-term downward trajectory for most parts of 2022 and continues to face massive pressure. Here is what you need to know:

• SHIB has tried to hold the $0.0000094 support for nearly 8 months.

• The coin temporarily fell below that price last week and tanked 50% further as a result.

• But a recent rally has pushed SHIB above $0.0000094 again.

Data Source: TradingView 

How long can SHIB hold on?

It is clear that downside risks below $0.0000094 are huge. In fact, the one time SHIB failed to hold this support zone, the coin went on to lose nearly 50% of its value in an apparent crash. So far, the meme coin has recovered and appears to be pushing further above $0.0000094. 

However, we do not think SHIB has what it takes to hold off the bears for longer. In fact, looking at the RSI momentum indicator, the meme coin appears poised for a steep correction. SHIB has also failed to generate enough demand, especially in a market where investors remain extremely fearful. 

With these two factors, we expect SHIB to struggle over the next week, and eventually, $0.0000094 will be lost. After that, the meme coin will likely spiral downwards for another 50 -70% before we see any serious trend reversal.

Should you hold or sell SHIB?

There is no doubt crypto is now a seller’s market. Investors are cashing out and as such, market volatility is likely to remain very high. 

If you want to get out of SHIB, this would be the time to do it. However, for those who are in it for the long term, just wait for the meme coin to dip below $0.0000094 and accumulate once again.

The post Shiba Inu (SHIB) continues to hold 8-month support despite growing selling pressure appeared first on Coin Journal.