Kategorie: Altcoin News

Shiba Inu is currently trading sideways along a declining trend line. The coin has also managed to consolidate above an important support zone, but upside momentum has been very limited. SHIB is staring at a brutal sell-off in the coming weeks, but this could be avoided if certain conditions in the market materialize. 

Key Points – 

• SHIB has finished a consolidation phase without really breaking out.

• This shows weakness, and the token could fall below the $0.0000101 support.

• The coin will phase a 40% wipeout from its current price if this happens.

Data Source: TradingView 

How can SHIB avoid this decline?

It’s very difficult right now to see any decisive bullish run for SHIB. The market in general has not favored meme coins. In fact, after crashing in May, SHIB has recovered very modestly compared to other coins. It has also traded sideways for the past two weeks along a declining trend line. 

This suggests that there is no momentum for any real bull run. So, to avoid a sell-off, the meme coin needs to hold the $0.0000101 support. So far, SHIB is slightly above this, and we have not seen any bear pressure. 

However, as market conditions change, a dip below$0.0000101 could come in the next week or so. When this happens, it will trigger a major sell-off that could push SHIB lower by nearly 40%. Recovery from this fall may also not be as quick as we want.

What Happens to SHIB investors?

It’s just a wait and see game for now. The biggest test will be how long the coin holds off bears above the $0.0000101. 

If indeed SHIB is able to close the week above this price, then bulls can take a breather. But still, upward momentum for SHIB is highly limited at the moment.

The post How can Shiba Inu avert a brutal sell-off in the coming weeks? appeared first on CoinJournal.

As the crypto market starts to rally, several major coins have reported modest gains. However, Waves appears to be outperforming the entire market by huge margins. The coin is seeing rapid recovery and a trend reversal that could deliver immense gains in the near term. Here are the highlights:

• WAVES has surged by around 60% in the last 24 hours

• The coin has managed to reclaim two important support zones in this bull run

• The momentum will likely push WAVES towards $12 in the coming weeks.

Data Source: TradingView 

WAVES price analysis and prediction

In 2022, the broader crypto market has seen major weakness. But despite this, WAVES has remained one of the most stand-out performers. The coin however saw one of its worst sell-offs of the year in May. The step decline pushed it towards a bottom price of $4.18. It seemed at the time that all the momentum and the gains WAVES had built this year were all gone. 

But we are now seeing a stunning recovery. In fact, WAVES has surged by nearly 120% from its lowest price in May. The coin is now testing the crucial overhead resistance of $9.2. 

If indeed WAVES is able to cross above this, it will surge towards $12 in the coming days. This will represent gains of around 50% from the current price. It will also mean that WAVES would have delivered nearly 3x gains in barely weeks.

Can WAVES keep the uptrend going?

It’s not the first time WAVES has rallied impeccably this year. However, in almost all these instances, the coin has retreated sharply from highs. The key in this bull run will be to see how long the price will stay above $12.

If there is consolidation there for a few days, then a retreat will be less severe. But in the short term, WAVES offers incredible upswing potential.

The post Waves fast recovery could push the token towards $12 appeared first on CoinJournal.

Cronos (CRO) has been one of the most underperforming coins in the market over the last few months. The coin has literally blown hot and cold but despite this, it has failed to establish any decisive breaks. However, Cronos still continues to report major ecosystem development news. Here are the highlights:

• Cranos recently announced a partnership with racing giant Aston Martin

• The coin has however failed to reflect these huge developments in the pricing

• Cronos remains well below the $0.2 mark and could stay there for a while

Data Source: TradingView 

Where does CRO go from here?

There is no doubt Cronos is a huge project in crypto. The fact that the coin is now selling for less than $0.2 suggests that it’s undervalued. As more ecosystem developments continue to be reported, we expect the underlying fundamentals for Cronos to improve. This will however not reflect in the price until overall sentiment in the market improves. 

As long as crypto investors are not willing to take risks, then fundamental ecosystem news doesn’t matter. But despite this, CRO still has enough potential to surge to $0.5 this year. This will roughly be more or less where it was a few weeks ago.

Nonetheless, it will still be a growth of around 5x. Now, this will of course not happen in a few days. But before the end of 2022, CRO could easily be 5x your money, especially if more and more investors discover just how undervalued it is.

How to trade CRO

The best play for CRO has to be long-term. There is just so much volatility in the market now, so predicting assets in the short term is very hard. 

But if you don’t mind holding CRO for a few months, then you will definitely get some amazing returns. Even if the coin doesn’t hit $0.5, you could still end up with decent double-digit returns.

The post Cronos (CRO) struggles to break out despite major ecosystem developments appeared first on CoinJournal.

DigiByte (DGB) has seen a decent change in trend over the last 24 hours. The coin has managed to see double-digit gains but despite this, there are still a lot of downsides to keep in mind. The coin is in fact staring at a steep drop. More on this later but first, here are some highlights.

• DGB remains in a bearish long term trend despite recent rallies

• The coin has however tried to consolidate as it tries to find demand

• But is unlikely to maintain this momentum for long

Data Source: TradingView 

DigiByte (DGB) Price analysis and prediction

The new week appears to have brought new life for DigiByte (DGB). The coin has managed to gain around 10% over the last 24 hours and looks to be consolidating. However, as we have seen in the past few weeks, most rallies in crypto these days don’t last. In fact, it is likely that the current uptrend on DGB is driven by short-term traders. 

As soon as the coin hits a decent enough price, investors will lock in profit and as a result, DGB will flatten. We expect the current uptrend to continue for a few days. However. DGB will likely get rejected at the $0.016 resistance zone. This will lead to a sharp fall that takes the coin closer to $0.01. 

However, if bulls can somehow manage to push DGB above $0.016, then more upside could follow.

Should you buy DigiByte (DGB)

If you plan to buy and hold DigiByte (DGB) for a short time, then you can buy now. The coin will trend upwards for a few days before it retreats at $0.016 or thereabout. 

As for long-term investors, DigiByte (DGB) is already heavily discounted as we speak. There is a real chance to unlock its full value in a few months or so.

The post DigiByte (DGB) faces a steep drop as sentiment in the market slows appeared first on CoinJournal.

The month of May was dominated by news of LUNA’s crash. This came after its dollar-pegged stablecoin UST fell by nearly 90% against the dollar. In an effort to relaunch Terra and stop the bloodbath, the Terra community announced a rebrand. But Terra 2.0 has not been as successful as expected. Here are the points:

• Terra classic lost nearly 80% of its value shortly after it announced its airdrop

• The coin managed to recover slightly but still remains in the red.

• More volatility is expected on LUNC over the coming weeks.

Data Source: TradingView 

Terra 2.0 – Can it woo investors?

The 80% drop shortly after launch is of course a bad sign for Terra 2.0. But this is not really the end of the world. In fact, because of high volatility in the market and slowing investor sentiment, it was largely expected that Terra 2.0 will face challenges. The good news though is that despite the drop, LUNC showed some signs of recovery. 

The coin appears to be consolidating and settling in between $4 and $6. Also, LUNC has managed to keep the market cap way above the $1 billion mark. We expect the price to continue stabilizing in the days ahead before it establishes a trend. 

After that, LUNA will start to rise and fall in line with price movements in the rest of the market. Eventually, the coin could touch $10 in a few weeks as investors start to buy into the idea.

LUNC’s long term prospects

Rebranding Terra is a big first step. It means that the people behind the project are committed in the long term. We do not think Terra 2.0 will be as big as the original Terra. 

After all, this was a project that once had over $20 billion in market cap. But it is likely that Terra 2.0 will settle at $5 billion in value in the near term.

The post Terra Classic (LUNC) crashes by nearly 80% barely hours after its airdrop appeared first on CoinJournal.