Kategorie: Altcoin News

Solana has shown some strong signs of recovery over the last 7 days. After seeing sharp sell-offs for most parts of May, the coin has managed to regain several support zones. It also looks like SOL has enough momentum to keep pushing further ahead.

• SOL has crucially surged past the important $44.15 support zone

• The coin is now above $50 for the first time in two weeks

• Sustained consolidation at $50 could trigger a run towards $80 in the near term

Data Source: TradingView 

Solana (SOL) – recovery and price consolidation

Solana had failed to rally for most of May. The altcoin in fact saw one of its worse sell-offs this month. However, there is some recovery. In fact, SOL has steadily gained ground and is now converting previous resistance zones into strong support. But more importantly, SOL has now etched above $50. 

This provides the perfect buy zone for bulls, something that could easily push SOL up by 50% in the coming week. Despite this, the coin is still way behind projections for 2022. SOL has also lost at least 85% from its ATH of $261. 

Projections for 2022 estimated that SOL would likely hit $2000 by year’s end. But slowing sentiment in crypto and increasing market volatility have made it hard for the altcoin to post any decent upward momentum. We do not expect this to change soon. Although a 50% rally towards $80 is possible, it will take months for SOL to break above $150 once more.

How to profit from this SOL rally

Right now, SOL is slightly hovering above $50. Give it 24 hours and if the price action is still above fifty bucks, consider buying. 

In a few days, the altcoin will likely break out. If you don’t want to hold it for the long haul, you can cash out at $70 to avoid any major upside risk.

The post Solana (SOL) could surge by 50% in a quick relief rally appeared first on Coin Journal.

With investor sentiment in crypto taking a more risk-off approach in the last 6 months, meme coins like Shiba Inu (SHIB) have suffered the most. In fact, SHIB has been on a long-term downward trajectory for most parts of 2022 and continues to face massive pressure. Here is what you need to know:

• SHIB has tried to hold the $0.0000094 support for nearly 8 months.

• The coin temporarily fell below that price last week and tanked 50% further as a result.

• But a recent rally has pushed SHIB above $0.0000094 again.

Data Source: TradingView 

How long can SHIB hold on?

It is clear that downside risks below $0.0000094 are huge. In fact, the one time SHIB failed to hold this support zone, the coin went on to lose nearly 50% of its value in an apparent crash. So far, the meme coin has recovered and appears to be pushing further above $0.0000094. 

However, we do not think SHIB has what it takes to hold off the bears for longer. In fact, looking at the RSI momentum indicator, the meme coin appears poised for a steep correction. SHIB has also failed to generate enough demand, especially in a market where investors remain extremely fearful. 

With these two factors, we expect SHIB to struggle over the next week, and eventually, $0.0000094 will be lost. After that, the meme coin will likely spiral downwards for another 50 -70% before we see any serious trend reversal.

Should you hold or sell SHIB?

There is no doubt crypto is now a seller’s market. Investors are cashing out and as such, market volatility is likely to remain very high. 

If you want to get out of SHIB, this would be the time to do it. However, for those who are in it for the long term, just wait for the meme coin to dip below $0.0000094 and accumulate once again.

The post Shiba Inu (SHIB) continues to hold 8-month support despite growing selling pressure appeared first on Coin Journal.

2022 appears to have simply flown by so fast for most crypto investors. The market has not delivered as expected, but we have not seen any major crashes. As we enter the second half of the year, there are some opportunities to make good money. Here is why:

• Most coins have failed to really break out and remain heavily discounted.

• The second half of the year could bring a change in fortunes as more investors enter the market.

• The overall outlook for many coins is still good, even with the slump during the first half of 2022.

So, we decided to create a list of two coins that we think could blow up in the final half of 2022. Here they are:

Polygon (MATIC)

At the start of 2022, one coin that was earmarked for great things was Polygon (MATIC). Analysts all over felt that the altcoin would challenge major projects like Ethereum and Solana. This was after MATIC had delivered insane gains for investors a year earlier.

But flash forward six months into 2022, and MATIC has fallen sharply. At the moment, it’s very difficult to see how the altcoin will live up to the high expectations set at the start of the year. But we believe Polygon and its fundamentals will be good enough to attract more buyers. As such, MATIC could offer up to 4x growth from the current price.

Cosmos (ATOM)

One thing we love about Cosmos (ATOM) is its incredible resilience. Yes, the coin has suffered losses this year. But compared to the rest of the market, it has actually managed to fend off major sell-offs. 

We also think the coin is significantly undervalued, especially when you look at its roadmap and the vision it has for the future. For this reason, ATOM is highly recommended for the rest of the year.

The post Top coins to buy as we enter the second half of 2022 appeared first on Coin Journal.

The goal for any investor is to buy assets at a lower price and sell them when the price has shot up. In crypto, prices for assets can often shoot up very fast. If you are able to find undervalued gems, you could become very rich. But how do you find these undervalued coins? Here are some tips:

• Focus mostly on new projects that are yet to achieve massive media coverage

• Follow major venture capital firms and where they are putting their money

• Analyze project roadmaps and visions to see future potential today.

Nonetheless, we have a few undervalued coins here below that could provide some decent growth in the months ahead.

Merit Circle (MC)

Merit Circle (MC) is a decentralized autonomous organization or DAO that focuses mainly on the metaverse and play-to-earn gaming. The DAO is trying to build the future of the metaverse by investing to accelerate innovative projects in this area. 

Data Source: TradingView

Merit Circle has announced major partnerships over the last few weeks, including one with the Axes Metaverse and others. As the metaverse becomes more mainstream, MC is likely to gain a lot.

Mines of Dalarnia (DAR)

The play-to-earn space is right now the most important growth sector in crypto. It’s also a relatively newer area that is seeing more innovations every day. One project that has captured the imagination of most players is the Mines of Dalarnia (DAR). 

This immersive game set in a virtual tech universe has released important updates already. We expect it to blow up very soon, especially now that interest in P2E gaming is growing.

Oasis Network (ROSE)

The Oasis Network (ROSE) has often been ranked as one of the most impressive projects in DeFi right now. Although it’s not new, based on its roadmap and recent partnerships, it is clear that Oasis still has so much potential to unlock.

The post These 3 undervalued tokens could become hot in the months ahead appeared first on Coin Journal.

The crypto news cycle over the last two weeks has largely been dominated by Terra (LUNA). The coin went from being one of the top ten most valuable crypto assets to ranking below 200. It all happened in days. So, will the stablecoin platform ever return to its heyday? Here are some highlights:

Terra has literally gone bust over the last week or so.

The coin has hit all-time lows albeit we have seen some slight recovery.

At the moment, LUNA is facing huge volatility with swings of up to 50% per day.

Data Source: Tradingview 

Will Terra ever return to $120?

Terra (LUNA) was always seen as the crème on the cake as far as crypto goes. It was among ten of the most valuable assets in the market and for a long time, it traded above $100. But after periods of decline, the coin had settled at around $40 in 2022. 

However, all that value was wiped out after its dollar-pegged UST stablecoin lost its peg. LUNA simply crashed and is now selling for pennies. A return to glory will not be that simple though. Although some slight recovery has been reported over the last few days, there is just so much volatility around LUNA to say for sure it coming back. 

Besides, a lot of the things that need to happen to give LUNA a chance have not happened yet. UST is still de-pegged, and the Terra community is running out of ways to defend the stablecoin. It will be a miracle if LUNA returned to $10 let alone $120.

Should you buy the LUNA dip?

You can trade LUNA as of now, but don’t hold it. As noted above, due to high volatility, the coin is swinging wildly. 

This gives short-term speculative traders a chance to win big. But for the long haul, LUNA is just too risky right now.

The post Boom to burst: Will Terra (LUNA) ever return to $120 again? appeared first on Coin Journal.