Kategorie: Altcoin News

The crypto market has not had the most successful start to the year. In fact, Q1 in 2022 has been a brutal time for most assets. But there is a chance that the second quarter of the year may bring a change in fortunes. Here are some highlights:

• Investors will price in the macroeconomic and geopolitical pressures in the weeks ahead.

• Despite high volatility, the general trend for 2022 is predicted to be positive.

• Some projects still remain highly undervalued because of the recent slump.

For investors who are looking to profit from a Q2 rally in the crypto market, the following are some top 3 assets to buy:

Internet Computer (ICP)

After showing some signs of life in February, Internet Computer (ICP) is back on its downtrend. In fact, the coin has been losing money since the tail end of 2021. 

Data Source: Tradingview 

Although we do not expect a bullish reversal in the long-term trend to come soon, the second quarter of the year could prove very decisive. ICP is now trading at $16.18. It’s down 7% for the week. This is a perfect opportunity to grab it.

Kadena (KDA)

Kadena (KDA) is a promising blockchain project, and even though it’s been around for a while, it still offers an array of incredible future potential. KDA right now has a market cap of $1.1 billion and is trading at $6.5. The token has moved sideways, for the most part, this month but still remains very low compared to the highs of 2021. It could rebound sharply in Q2 2022.

Oasis Network (ROSE)

After falling for around 10% last week, it doesn’t seem like Oasis Network (ROSE) has anywhere to hide. The token is however highly undervalued and underrated. Investors are likely to start giving it the attention that it needs and as such, we may see a sharp rise in the coming weeks.

The post Top 3 crypto projects that could rally in the second quarter of 2022 appeared first on Coin Journal.

As most coins in the crypto market continue to slump, Immutable X (IMX) has been posting incredible gains over the last week or so. Recent chain news has driven much of this surge but can IMX keep this going? Here are some highlights:

• Immutable X (IMX) announced it had raised $200 million to fund the expansion of its ecosystem.

• Despite the rally, Immutable X (IMX) still remains significantly lower compared to its ATH

• At press time, the coin was trading at around $1.8.

Data Source: Tradingview

Immutable X (IMX) – Price prediction

The recent 50% surge for Immutable X (IMX) came as a welcome surprise for investors. The market over the last few days has been very volatile and it’s been harder every day to find some good news across the board. But despite this, we expect IMX to pull back slightly. 

In fact, at the time of writing, the coin had lost around 5% over the last 24 hours, trading at $1.85. The most important thing to watch right now is the $1.95 mark. If indeed, IMX can find enough bullish uptrend to test or even cross that threshold, then we could see more gains coming in the near term. 

But there still remains a significant risk of a sell-off. When coins rally like this, they will plateau at some point. For IMX, it seems that the point is $1.8. A break below that could lead to more losses.

Is Immutable X (IMX) worth it?

There is no doubt that Immutable X (IMX) has fallen sharply since it reached all-time highs a few months back. The coin has also been on a bearish trend for the most part of this year. 

While this can be a problem for the short term, from a long-term point of view, Immutable X (IMX) still remains a decent buy with significant potential.

The post Immutable X (IMX) gains over 50% in recent weeks even as most crypto-assets continue to slump appeared first on Coin Journal.

The macroeconomic picture and increased geopolitical pressure have seen Harmony (ONE) drop quite significantly since January. Although there have been periods where the token has threatened to rise, it has always come crashing back down. But is this about to change? Here are some highlights first:

• Harmony (ONE) has established a strong demand zone between $0.106 and $0.121.

• At press time, the coin was slightly trading above that at $0.125.

• If ONE enters that zone, we could see some increased buying from bulls.

Data Source: Tradingview 

Harmony (ONE) – Is a bull run feasible?

As noted above, for most parts of 2022, Harmony (ONE) has largely been on a downtrend. It is highly unlikely that this bearish trend will reverse in the near term. As it is, sentiment in the crypto market remains largely fearful as investors weigh in increased macroeconomic and geopolitical pressures. 

But short-term bull runs are still possible for Harmony (ONE). The coin is currently headed to an important demand zone of between $0.106 and $0.121. This is likely going to trigger a bullish run that could push ONE towards $0.164 in the near term. 

This will represent a 30% gain from the current price, which at press time was $0.125. But sustained gains above $0.164 will be highly unlikely. ONE is likely to pull back once it tests that price and try to find more demand once again.

Why is Harmony (ONE) undervalued?

The key for any investor is to find a crypto asset that is undervalued, and Harmony (ONE) is one of them. The coin has fallen sharply from all-time highs and has been reporting losses for most parts of 2022. 

But the project still has a lot of potentials, and the underlying fundamentals are very good. In fact, the general outlook for Harmony in 2022 is still very positive despite recent turmoil. It is a great asset to grab right now.

The post Harmony (ONE) nears a crucial demand zone – is a bull run finally here? appeared first on Coin Journal.

• Stacks has been growing in adoption for its ability to make Bitcoin as programmable as Ethereum.

• Stacks current pump is not fundamentals driven and is more consistent with whale activity.

• Volumes are dropping, but Stack is still holding at key intra-day support. 

Stacks (STX) is a crypto project that unlocks the power of Bitcoin way beyond its use cases as a currency and a store of value. Through stacks, the world’s largest cryptocurrency by market cap and the most secure can be used to create smart contracts. This is a big deal because Bitcoin’s security allows it to be used in creating highly sensitive Dapps, especially for DeFi.

The implications of making Bitcoin programmable are pretty high for stacks, too. One of them is that it makes Stacks a highly sought-after cryptocurrency by investors who want to earn staking rewards in Bitcoin. By staking Stacks, investors earn an APY as high as 9.8%, and the rewards are paid in Bitcoin. 

However, Stacks usually moves in tandem with the broader market, and its current price is an anomaly, considering that the cryptocurrency market is bearish now.

Price action consistent with whale activity 

Stacks has in the last 24-hours shot up by over 28%. This follows a sudden increase in volumes, now up by over 4800%. Such a sudden increase in buying volumes indicates that a whale is buying up Stacks in huge amounts, triggering the current price rally. 

Stacks forms a descending triangle pattern

After a massive pump that saw Stacks hit a high of $1.9, Stacks has formed a descending triangle pattern, with strong support at $1.346. This is an indicator that trading volumes are dropping after the initial pump that was consistent with whale activity. 

Source: TradingView

If Stack’s buying volumes remain high, and it bounces off the $1.346 support, it could retest the $1.9 resistance in the short term. If stacks bulls can break the $1.9 intra-day high, now resistance, prices above $2.5 could be within focus. 

However, if this was just a random pump and Stacks drops below the $1.346 support, prices below $1.07 could come within focus in the short term. 

Summary

Stacks has pumped in the last 24-hours in price action consistent with whale activity. However, these volumes are declining, and STX is now trading at key support.

The post Stacks (STX) – Is a whale aggressively loading up? appeared first on Coin Journal.

• Terra (LUNA) rallies as demand for UST is driven by Anchor Protocol surges.

• LUNA’s relationship with UST means higher demand for UST drives LUNA prices up.

• LUNA is currently trading in an ascending triangle pattern, an indicator of a potential breakout.

Terra (LUNA) continues to outperform the rest of the market by a huge margin. LUNA is the only major cryptocurrency that has retested its all-time highs since the crypto market turned bearish in November 2021.

The trigger behind this rally has to do with the relationship between LUNA and the stable coins that run on the Terra ecosystem, such as TerraUSD (UST). As the demand for UST grows, LUNA is burned, with the goal being to keep UST pegged 1:1 to the dollar. Going by the economic laws of demand and supply, the more LUNA is burned, the higher the price goes.

Recently there has been a huge demand for UST, as investors look to lend it on Anchor Protocol, a platform with an APY of up to 20%. This also means that the burn rate for LUNA has shot up, and by extension, the price has also gone up to the levels where it is now.

As long as Anchor Protocol keeps paying an above-average APY, then the chances are that LUNA could easily go on to make new highs, possibly above $200 in the short term.

LUNA trading in an ascending triangle

Source: TradingView

After the rally that saw it make new highs a few days ago, Terra is trading in an ascending triangle. This is an indicator of a potential breakout, which could see LUNA test prices it has never tested before.

Summary

LUNA is the only one of the major cryptocurrencies that are rallying. Its price action points to a potential continuation of the rally that started a few days ago and could see LUNA make new highs in the short term.

The post Terra (LUNA) price points to potentially more gains short term appeared first on Coin Journal.