Kategorie: Altcoin News

• Convex Finance rallies as more DeFi protocols integrate it. 

• Convex is also benefiting from increased bullish momentum in the broader market. 

• Convex has broken through a key resistance level, indicating rising bullish momentum. 

Convex Finance (CVX) has been one of the best cryptocurrency performers in the last 24-hours. This was triggered by the growing number of projects that are integrating Convex and offering investors a chance to earn a passive income off their Convex tokens.

For instance, On March 16th, Rari Capital announced the launch of the Tribe Convex Pool. This pool leverages some of the latest technologies, such as Flywheel and ERC-4626 plug-ins. Thanks to these technologies, investors will be able to use their Convex Finance tokens as collateral in the Fuss protocol when borrowing.

This came just days after another protocol, Enzyme, announced that Enzyme users could now use Convex to stake their Curve Finance tokens and grow their earnings. This is a big deal as it has increased the number of investors using Convex, which could translate to higher prices in the long run.

However, it is not just the integrations driving investor interest in Convex Finance. Convex is also in a market currently on an exponential growth path. DeFi is on a growth trajectory as investors take advantage of the space’s passive income opportunities. This means projects like Convex Finance, which offers investors a chance to increase their bags without trading, will only get more popular.

Convex is particularly interesting to investors because it is a relatively new project with a relatively small market cap. This means it has the potential to give an above-average return once the market turns bullish again.

Convex Finance breaks through key resistance

Source: TradingView

Convex Finance has been on an uptrend since March 20th, and bullish momentum is rising. Bulls are so strong that, Convex has broken through $20.26, a price level where it experienced significant resistance over the weekend. If it sustains the current momentum, then $25 would be within reach in the short term. 

Summary 

Convex is gaining momentum after a series of critical integrations with multiple DeFi protocols. Convex Finance is also benefiting from growing interest in DeFi, and the fact that bullish momentum is on the rise in the broader market.

The post Convex Finance could test $25 soon – The price action is bullish appeared first on Coin Journal.

• Shiba Inu is trading in the direction of Bitcoin and the broader market. This is a good indicator as buying volumes are rising across the market.

• Shiba Inu also has the support of its growing fundamentals, such as its Metaverse project.

• Shiba Inu has already crossed the 100-day MA resistance, a pointer to rising buying volumes. 

Shiba Inu (SHIB) made history in 2021 after it recorded gains of 48,000,000% just a year after launch. Today, anyone who put in just $100 in SHIB in early 2021 is a multi-millionaire. However, with the market heavily bearish, it is only natural to wonder, is SHIB still a good investment in 2022? The answer is yes. 

Like the rest of the market, Shiba Inu prices have been depressed for the past few months, so it is nothing unique to Shiba Inu. Besides, Shiba Inu’s price has been moving in tandem with the rest of the market, so you can expect SHIB to rise if the broader market gains upside momentum.

The best part is that bullish momentum seems to be on the rise in the broader market. For instance, Bitcoin has been gaining upside momentum in the last few days. While buying volumes are still relatively depressed, Bitcoin has managed to hold above the $40k support. This has also seen SHIB, and a host of other altcoins, gain upside momentum as well. If Bitcoin takes off from its current price, SHIB could rally as well. 

Besides, the Shiba Inu team is working hard to add to the project’s intrinsic value. For instance, the team is currently building a Metaverse, a factor that will significantly add to the intrinsic value of SHIB going into the future. 

SHIB breaks the 100-day MA resistance

Source: TradingView

In the last 24-hours, SHIB has been in a bullish reversal and has pushed through the 100-day MA resistance at $0.00002284. If bulls can sustain momentum and push through the 50-day MA at $0.00002348, Shiba Inu easily hit prices above $0.00002700 in the short term. 

Summary

With buying volumes rising in the broader market, Shiba Inu has good prospects of rallying in the short term. Besides the price action, the Shiba Inu team is working on a Metaverse, which could help drive up the value of SHIB long term.

The post Shiba Inu breaks 100-day MA resistance: Can bulls sustain momentum? appeared first on Coin Journal.

Mina (MINA) has staged a stunning recovery over the last two trading days. The surge was largely triggered by news that big-name investors were pouring money into the project. At one point the coin managed to go above monthly highs before retreating. But can this momentum hold? We’ll discuss it below but first, here are some pointers:

• Mina (MINA) has reported double-digit gains for the last two days.

• The coin was trading at $2.08, up around 18% in 24 hours.

• We expect this surge to continue well into the weekend.

Data Source: Tradingview 

Mina (MINA) – gauging the momentum?

Mina (MINA) had not been doing that well. Like most coins in the market, it was largely exposed to the headwinds in crypto. As such, it had spent a lot of days in the red. But what we saw over the last two days has been nothing short of a crucial reversal. 

The coin has surged by double figures in both days. At one point, it even rose above $2.35, the highest it has been since February. Also, Mina (MINA) has gained over 40% compared to the lowest price recorded in March. 

We expect this bullish run to continue well into the weekend. After all, Mina (MINA) is now well over its 25- and 50-day simple moving averages. The RSI reading also shows positive momentum heading into the weekend. 

What is Mina (MINA)?

Mina (MINA) is an innovative blockchain project that is planning to create distributed payment systems. It is a relatively unique project that looks very underpriced. We are also starting to see big-name investors coming into MINA. 

This can only be a good sign about the future prospect of this coin. If you are looking for something to buy and unlock long-term gains, there is no reason why you shouldn’t check out Mina (MINA).

The post Mina (MINA) stages stunning recovery after days in the red – Can the momentum hold? appeared first on Coin Journal.

The metaverse is seen as the hottest trend in crypto right now. The big tech giants of our time are pouring money into this idea. In the coming years, the metaverse will be a reality. But we are also seeing NFT and metaverse integration as well. Here is why this makes sense:

• NFTs provide the basis for owning metaverse items

• The NFTs are also used to bring more utility and value into the metaverse.

• NFTs are also important in creating multiple revenue verticals in the metaverse.

Well, in case you are searching for crypto projects that integrate NFTs and the metaverse together, here are the top 3 coins to consider.

Terra Virtua (TVK)

Terra Virtua (TVK) is an upcoming metaverse project that is looking to transform how people interact with digital collectibles. The project uses augmented and virtual reality to create an immersive digital experience. 

Data Source: Tradingview 

This is where people can buy and sell NFTs, engage in social and gaming activities and so much more. The official governance and utility token of Terra Virtua is known as Kolect (TVK). At press time, the coin was trading at $0.107 with a market cap of $75 million.

Axie Infinity (AXS)

Axie Infinity (AXS) is not a new name per se in the metaverse sector. In fact, this project started like a play-to-earn game but has since tried to bring other metaverse-related features into its ecosystem. It was one of the hottest projects to buy in 2021. While much of that growth has stagnated, the future is still bright for AXS.

Wilder World (WILD)

Wilder World (WILD) is a 5D gaming universe that looks to deliver immersive and action-packed gaming experiences for all users. The project also lets users buy digital items, including condos, cars, and so much more. All these things are backed by NFTs as well. The native token WILD is trading at $1.18.

The post Metaverse and NFT integration: Top 3 coins to consider appeared first on Coin Journal.

Despite various bearish predictions over the last three weeks, Solana (SOL) has remained quite resilient. The coin has lost and regained important support zones and now it seems like it is finally ready to rise again. But how feasible is the $100 mark? More details to follow but these are the facts you need to keep in mind:

• Solana is looking to test overhead resistance of $90.

• A close above that price will push the altcoin higher than $100 in the near term.

• At press time, Solana was trading at $85, down around 4% in 24-hour trading.

Data Source: Tradingview 

Solana (SOL) – how fast can it hit $100?

Solana (SOL) has shown some impressive resilience. Although the analysis in recent weeks was very bearish, SOL bulls have come out strong. As a result, the altcoin has regained several key support zones in the last week or so. 

The biggest challenge now will be to find enough momentum to push through $90. If bulls do this, then the coin will surge above $100 in the near term. At the time of writing, SOL was trading at $85.

Despite this, in previous sessions, the zone between $90 and $95 has proved to be a crucial supply area. Every time SOL has managed to hit this threshold, it has repeatedly pulled back. But this time around, it is likely that bulls will convert $90 – $95 into a short-term demand zone to support the rally above $100.

What is the long term outlook of Solana (SOL)

Recent headwinds in the crypto market have made a lot of coins weaker. Solana in particular has fallen from its 2021 highs of nearly $200. 

But this does not change the long-term outlook of this altcoin. SOL is still destined for great success and is one of the “blue chip” crypto tokens you can buy.

The post Solana (SOL) is targeting $100 in the days ahead – Here is how this will happen appeared first on Coin Journal.