Kategorie: Altcoin News

Harmony (ONE) had suffered a major sell-off at the start of April. The coin in fact hit the lowest level since the tail end of February and was looking bearish. But so far, it seems like the token is rebounding. How long can this uptrend last? Learn more below but first, here are key takeaways from the article:

• Harmony has managed to maintain strong support at $0.1130 in recent weeks.

• The coin has surged by 6% in the last 24 hours albeit it remains 10% down for the week.

• The rally over the last few days seems unlikely to last that long.

Data Source: Tradingview 

Harmony (ONE) – Why the recent uptrend will fade?

There is a very big difference between a rebound and a trend reversal. When coins go through a sustained bearish period, they are likely to rebound slightly but overall, the bearish conditions still remain. This is the exact case with Harmony (ONE). 

Although the coin has posted some decent gains in the last few days, we don’t expect the medium-term bearish trend to reverse. In fact, ONE still remains well below its 25- and 50-day SMAs. Besides, a look at the chart shows that coin has formed an inverted cup and handle pattern. 

These two indicators suggest that a bearish trend is still expected. Perhaps the good news for ONE investors is the fact that the coin is still trading above the crucial support zone of $0.113. But if this price is breached, more losses will follow.

How to play the Harmony (ONE) setup?

There is a massive downside risk with Harmony right now. The best thing to do as an investor is to watch the price action this week. If bulls manage to maintain the $0.11 support, then you can buy and exit at 20% gains max. 

The potential upside for ONE remains significantly low. But if the support is breached, give it another week to consolidate before you buy.

The post Harmony (ONE) reports an extensive rebound – Will the uptrend last? appeared first on Coin Journal.

Shiba Inu’s metaverse, ‘SHIB: The Metaverse,’ went live on Wednesday, and the ‘land bid event’ is currently happening. Currently, preferential access to the land bidding event is being given to Leash holders only.

The Leash holders can lock their Leash tokens to bid for the land. The Leash holders are allowed to inspect, bid, and also acquire land in SHIB: The Metaverse.

The currently undergoing land bidding event is scheduled to take place for three days and there are about 35,000 pieces of land properties that are up for grabs.

Following the rising anxiety as investors scumble for a chance to buy a piece of land in the Shiba Inu metaverse, there are expectations that the plots of land will sell out by end of the sale. The Shiba Inu metaverse is being dubbed the “future of the internet.”

After the land auction event, the plots of land in ‘SHIB: The Metaverse’ will be available for viewing, bidding, and buying by anybody. It is expected that an additional 66,000 plots of land will be available then.

What is SHIB: The Metaverse?

SHIB: The Metaverse is Shiba Inu’s metaverse ecosystem that features virtual real estate known as ‘Shiba Inu Lands’ that will provide owners with passive income.

One of the metaverse developers Eric M described the project as “a place where our community, tokens, game, ShibaSwap, and way more is going to meet together.”

SHIB: The Metaverse was initially linked to the ‘Shiba Inu Games’ project but that is not the case since it is a project on its own.

In the end, SHIB: The Metaverse website is expected to feature about 100,595 plots of land available for buying. The plots of land will be placed on a metaverse map lined with streets and Shiba-related names.

Shiba Inu’s team has laid out the process of buying land in SHIB: The Metaverse.

The post Shiba Inu Metaverse goes live with ‘land bid event’ already happening appeared first on Coin Journal.

Solana (SOL) has struggled to report any gains after trading in losses over the last three sessions in a row. The coin now looks very weak, and unless something drastic happens, it’s headed for further decline. Here are some highlights:

• SOL has fallen sharply in the last 24 hours, dropping by almost 10%.

• The coin still remains above a crucial $100 support zone

• But this is unlikely to hold in the coming days

Data Source: Tradingview 

Solana (SOL) – How far can it fall

After surging at the end of March, SOL slowed sharply in April. The coin has fallen from its $140 highs and is now just above the $100 mark. SOL even managed to push below its lowest price in March of $107. This could suggest that we are on the brink of a trend reversal that could see more losses follow. 

In fact, if bulls lose the crucial psychological support zone of $100, then the only way for SOL will be downwards. The $100 and the $93 support zones have proved very strong in the past. While there may be some resilience in the days ahead, the $100 will be lost, and bulls will try to consolidate at $93. 

But if $93 is also lost, SOL will enter an intense downward spiral that could bottom at $77 before any leg up. This will represent a loss of nearly 30% from its current price and almost a 100% decline from its highest price in March.

Is it good to own Solana?

Solana is a big project, and if you don’t have it yet, this would be a nice time to buy it. However, because there is a significant downside risk, you may want to wait for a week or so. 

Based on current indicators on the chart, SOL is likely to bottom. When that happens, you can buy and hold SOL for the future.

The post Solana (SOL) struggles at a crucial resistance – Here is why it could drop further appeared first on Coin Journal.

The broader crypto market has started the new week the same way it ended last week. Most coins have continued to report losses. But in the middle of all this, Decentralized Social (DESO) appears to be holding steady in fact; the coin is relatively bullish compared to the rest of the market. Here is what you need to know:

• DESO has surged by nearly 10% over the last 24 hours, outperforming the market.

• The coin also remains well above a crucial support zone of $37.5

• But massive whale holdings open DESO to wild volatility

Data Source: Tradingview 

Decentralized Social (DESO) – The price action

As noted above, DESO has managed to outperform the whole market by a mile. As most coins see single-digit drops today, DESO has surged by over 10% over the last 24 hours alone. The coin has now gained nearly 70% from its lowest point in 2022 and looks to keep going. 

Besides, DESO remains above the crucial support zone of $37.50. As long as bulls keep the price action above this, then we could see DESO thrust towards $54 in the near term. The biggest risk factor, however, is massive whale accumulation for this coin.

This makes it prone to wild volatility if big wallets decide to sell. In fact, a scenario where DESO loses the $37.5 support is possible. This could bring massive sell-off pressure and push the price downwards.

Is DESO a profitable asset?

Well, it is and it depends on how you want to play the current setup. DESO may still add at least 20% of its value before it corrects, so there is a short-term play here. This will however depend on whether whales decide to sell or not. 

Also, DESO is fairly decent as a long-term asset. We believe the coin has the potential to touch $100 by the end of 2022, which will be a 100% return.

The post Decentralized Social (DESO) shows bullish signs even as the rest of the market slows appeared first on Coin Journal.

There is no other asset class in the world that can deliver the kind of returns that crypto offers. People have made 100x on capital easily in the market, while some cons like SHIB have simply delivered insane growth. Here is why crypto offers the best opportunity to grow your money fast:

• The market has a history of massive returns over the last two decades.

• The crypto market also has a lot of liquidity which makes it easier to buy and sell.

• Demand for cryptocurrencies is growing each and every day, with new projects coming in.

But what if you just wanted to make 5x your money this year? Well, we have 3 projects below that could offer this possibility.

Waves (WAVES)

The Waves (WAVES) protocol has been one of the top perming crypto assets in the market over the last month. The coin has seen more than 2x growth in less than two or three weeks. 

Data Source: Tradingview 

Although some of these gains have retreated after a small correction, it is likely that WAVES will continue to rise before the end of the year. The potential to deliver 5x or even higher by the turn of 2023 is indeed a huge possibility.

Biconomy (BICO)

In addition to its low market cap, Biconomy (BICO) is also backed by superb underlying fundamentals. The project is designed to act as a multichain relayer protocol that helps improve transaction speeds and reliability for DAPPs. So far, BICO has been getting a lot of positive press, and it’s likely that a 5x jump this year is possible.

Guild of Gordians (GOG)

Play-to-earn games are expected to dominate the crypto industry for years to come. We saw projects like Axie achieve massive success in 2021. Guild of Guardians (GOG) is hoping to also achieve this and it has the potential to really explode. The coin is at around $16 million in market cap.

The post Best cryptocurrencies to 5x your money this year appeared first on Coin Journal.