Kategorie: Altcoin News

• Fantom token FTM pushes above resistance

• The blockchain could be borrowing gains from leader Ethereum

• FTM is a buy at the low prices as the price turns bullish

There is no better time to invest in Fantom FTM/USD tokens than now. That emanates from the fact that FTM has left a trail of $0.28, which is its bottom price. Of course, there is a long way to go as FTM trades a shell of itself from its all-time high.

Fundamentally, Fantom is benefiting from the boosts in the crypto sector. Owing to its depressed prices, investors could be taking advantage. The cryptocurrency trades at a low of only $0.33. That is significantly below the all-time high of above $3.5 last year. Investors could be scooping the dip for a chance to ride higher.

Besides, Fantom investors see opportunities in layer-1 protocols for smart contracts. History has shown that whenever the price of ETH rises, alternative layers such as Fantom gain. Investors view the alternative layer-1 protocols as the best Ethereum alternatives. They offer faster speeds and carry lower transaction costs. Thus, the gains in Ethereum could be spilling over to protocols such as Fantom.

FTM blasts past a resistance level to establish a new support

Source – TradingView

Technically, FTM is very bullish after overcoming the $0.28 resistance. MACD indicators are bullish too. The cryptocurrency now trades at $0.33. The price is yet to reach another major resistance which is at $0.43.

Investors can buy at the current price level or take advantage of a minor retracement. However, we believe FTM is attractively priced, and investors can scoop the token now.

Summary

Investors’ attention is turning to FTM due to its smart contract functionality. The cryptocurrency is attractively priced and is a buy after a key breakout.

The post Fantom aims for $0.43 as the price suddenly turns bullish at a key level appeared first on CoinJournal.

• Apecoin’s APE has gained 18% in a day as cryptos turn up

• Apecoin token rose to almost $28 in April after token airdrop

• Key breakout positions APE to further gains

Apecoin APE/USD debuted with a lot of hype in March this year. Despite the rest of the market subdued, APE rose strongly to test a high of almost $28. The gains happened as investors rushed to secure windfall gains. Apecoin now remains in the trenches as token trades at single digit prices. This thesis finds APE a strong cryptocurrency as bullish indicators emerge.

APE rose by 18% in 24 hours at press time, with gains in the week now at 25%. The gains happen across the sector, but very few coins have staged strong gains as APE. We believe APE’s bullish momentum is starting out after key breakouts happen.

Apecoin blasts past a key resistance as the price turns bullish

Source – TradingView

Technically, APE is bullish. The cryptocurrency blasted a key resistance of $5.1 on Monday, which previously held it back. The MACD indicators also support a bullish view. With the breakout, it confirms a potential lasting bullish momentum. But here are the two potential buy zones.

The first buy zone is the $5.1 resistance-turned-support. As APE surged, it met another resistance at $6.0. That makes the token susceptible to another drop. If that happens, APE will retreat back to $5.1, which is now our reference support. The second buy zone is $6.0. The buy entry will become active if APE manages another breakout. We need to watch the price action for a potential entry. The next resistance levels for APE are $7.2 and $9.0.

Summary

APE coin has breached a key resistance at $5.1. It has hit another resistance at $6.0. Investors should buy on a retracement to $5.1 or another breakout past $6.0.

The post Apecoin returns 18% in a day – How lasting can the gains be? appeared first on CoinJournal.

• Axie Infinity token has surged by 6% in 24 hours.

• The blockchain allows players to earn AXS tokens for participating in a competition.

• AXS remains in a bearish market despite the reopening of Ronin Bridge.

Axie Infinity AXS/USD is a beaten-down cryptocurrency. The token of the play-to-earn game platform trades at $14.25. The level is significantly lower from an all-time high of $170 last year. Besides the crypto weakness this year, AXS was weighed by Ethereum’s Ronin Bridge hack. The attack, which dates March this year, led to the loss of over $600 million worth of USDC and ETH. The attack exposed the vulnerabilities of side chains, which some networks like Axie Infinity relied on.

At the bottom $14 price, the Axie Infinity token has defied positive developments. In late June this year, Ronin bridge reopened with improved security features. AXS has proceeded lower despite the news. This thesis postulates that the AXS bearishness emanates from the weakness in the crypto sector. It means that investors remain skeptical. Some platforms, such as Axie Infinity, continue to attract low interest. 

AXS trades below the moving average

Source – TradingView

From a technical outlook, AXS is still bearish. The token rallied 6% in the day but remained below the 14-day and 21-day moving averages. That confirms that it is yet to become fully bullish. The MACD indicator is at the same level as the moving average, which also fails to confirm a bullish push. We need further confirmation before buying AXS. A break above the moving average and a bullish MACD indicator will show when buyers are settling in. However, we need the crypto sentiment to improve to see long-term AXS recoveries.

Summary

AXS remains on a bearish trend. The price is yet to recover after the opening of the Ronin Bridge. There are no confirmed bullish signals for the Axie Infinity token.

The post Should you buy Axie Infinity as the price shoots 6% amid crypto recoveries appeared first on CoinJournal.

• 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.

• Shiba Inu investors have increased by more than 21,000 in a month.

• SHIB is currently consolidating with a potential breakout.

• Investors can buy now to lock value, although further declines are possible.

As of July 11, the number of investors holding Shiba Inu SHIB/USD was 1,199,539. The number is a jump from 1,178,157 as of June 12, according to data by CoinMarketCap. The monthly jump in SHIB investors happens despite the current crypto bear sentiment. 

The growth in investors also comes along with a rising utility of Shiba Inu. Shiba Inu is slowly relinquishing its meme tag by innovating in the payments and metaverse areas. The network plans for a Shiba Inu metaverse, where users can play games and own virtual lands. No specific date is given for the launch of the metaverse, although it is expected this year. Investors are positioning themselves for a potential increase in the utility of Shiba Inu. 

The increase in investors holding SHIB may not accurately predict a price jump. However, it suggests that investors are expecting the price to pump following the recent declines. We believe that SHIB presents a short-term opportunity. The crypto-token could pump once a key breakout occurs.

Shiba Inu holds onto support as the number of investors rise

Source – TradingView

From the daily chart, Shiba Inu is consolidating. The MACD indicator is slightly bullish. The token keeps $0.00001 support intact. SHIB investors should watch for a breakout from the $0.00001 to the $0.000012 consolidation zone. Short-term focused investors can buy the bottom at $0,00001 and ride up to $0.000012. However, the price jump is speculative, and the price could drop below the support. A long-term buy is recommended at the current level. Alternatively, investors should consider buying after a break above the $0.000012 resistance. 

Summary

Shiba Inu is consolidating as more investors add positions. The price could rise from the $0.00001 level. The token faces resistance at $0.000012.

The post Shiba Inu price prediction as the number of investors grows by 21,000 appeared first on CoinJournal.