Kategorie: Altcoin News

Terra (LUNA) is looking poised for a decent upswing after spending much of 2022 on the downtrend. The coin has been showing some signs of consolidation as sentiment in the market improves. But how far can it climb in the near term? The analysis is below but first, some highlights:

• At press time, Terra (LUNA) was trading at $55 down by around 3.5% for the last 24 hours.

• We have also noted that any bullish breakout in recent days has stagnated between $62.76 and $70.

• If LUNA can be able to overcome bear pressure within that supply zone, then it can swing towards $90.

Data Source: Tradingview 

Terra (LUNA) – Is $90 possible?

The downtrend that we have seen on LUNA has been much more pronounced compared to other coins in the market. In fact, between February 3 and 7th, we saw the token plunged by over 30%. This was not a surprise if anything, it was a continuation of the downtrend seen this year. 

But there is some consolidation. However, every time LUNA has surged, it has faced massive pressure within the supply zone of between $62 and $72. If indeed the coin is able to overcome bears inside this zone, then it will likely push further towards $90.

We are watching to see if the token will fall below its support of $52. If that happens, then expect it to slide even further towards $47.

Is Terra (LUNA) a good long-term investment?

Terra (LUNA) is the main network for stablecoins. It has always been a huge part of the crypto market, ranking among the top ten by market cap. 

Even with the recent dip, there is no doubt that LUNA is a decent asset for the long term. It has the potential to deliver consistent value to investors in the near- and long-term future.

The post Terra (LUNA) could swing to $90 despite reporting consistent downtrends over the last few weeks appeared first on Coin Journal.

DigiByte (DGB), like many assets in the market, has seen some strength in the last few days. However, as a small microcap coin, there is still a lot of potential for further growth. But what exactly does the future hold for DGB? Analysis to follow next but here are some highlights first:

• DigiByte (DGB) has surged quite impressively over the last 5 days or so in line with broader sentiment in the market.

• However, at press time, the coin had lost around 5%, trading at $0.02486

• DigiByte (DGB) is expected to rebound and post gains this year with conservative estimates putting it at $0.08.

Data Source: Tradingview.com 

The future DigiByte (DGB) – Analysis

Despite rallying over the last few days, DigiByte (DGB) has not yet recovered from the slump in January. It has still lost 30% of its value this year and continues to trade way low compared to its ATH. 

The coin has however recovered from its 2022 lows of around $0.015 and is consolidating the price action above the $0.02 mark. In the short term, we expect some volatility on DigiByte (DGB) but the general upward trend will continue. 

From a long-term perspective, analysts expect this coin to grow by nearly 4 times this year, hitting $0.08 in the process. This is of course a conservative estimate. DigiByte (DGB) could still surge further, especially if sentiment in the market remains positive.

Why you should buy DigiByte (DGB)

As a microcap, DigiByte (DGB) has a lot of growth potential. In fact, at the time of writing, the coin had a market cap of around $320 million. 

Also, the chain offers several cutting-edge technologies that make it more competitive with other blockchain networks. Its DigiAsset platform in particular is a massive project. So, when you look at these fundamentals, there is no doubt DigiByte (DGB) is a decent coin to hold for the long term.

The post DigiByte (DGB) Price Prediction – What does the future hold for this microcap appeared first on Coin Journal.

Nexo (NEXO) has continued its upward climb seen over the last few days. This comes as the platform announced the launch of TerraUSD (UST) on its platform. As details of this new development start to reach a wider audience, it is likely that NEXO will surge even further in the coming days. Here are some highlights:

• The new launch will allow users to now borrow, lend, or stake UST on the Nexo platform with ease.

• At press time, NEXO was trading at $2.26, up by around 5% in 24 hours and nearly 15% over the last week.

• Users will also get to enjoy double yield rewards on UST staking until March 31 with a 20% APR to follow after.

Data Source: Tradingview 

Nexo (NEXO) – Price analysis and prediction

Like many assets in the crypto market, Nexo (NEXO) has been climbing upwards after a torrid start to 2022. At press time, the coin was trading at around $2.26, up by nearly 15% over the last 7 days. 

Since the UST news is just breaking, it’s unlikely that it is baked into the current surge. In fact, once investors start to learn of these new developments, NEXO will surge even further. 

Nonetheless, the coin is still lower than its all-time high of $4. But the upward trajectory we are seeing at the moment could in fact take it towards that threshold.

Is Nexo (NEXO) worth the risk?

Crypto lending is a risky area but despite this, it has actually been growing quite fast over the last few years. There are still many other innovative DeFi projects that are trying to conquer this market. 

Nexo is one of them and so far, it seems like the project is doing a lot behind the scenes to deliver value for investors. For a long-term bet, there is no doubt Nexo is a decent asset.

The post Nexo (NEXO) climbs as it announces the launch of TerraUSD (UST) on its exchange platform appeared first on Coin Journal.

Shiba Inu (SHIB) leads other meme coins in gains as the crypto market opens Monday on the rise

The crypto market has opened Monday’s trading session on the up and up. Most coins are surging in the early morning with meme coins like Shiba Inu (SHIB) reporting massive gains. The improved sentiment in the market is powering much of this rally and we expect it to continue for the rest of the day. Here are some highlights:

• At press time, Shiba Inu (SHIB) was trading at $0.00002778, up by nearly 22% over the last 24 hours.

• Other meme tokens are also Up with DOGE, SHIB’s main competitor reporting 24-hour gains of 6%.

• The recent surge reflects growing confidence in the crypto market and is likely to hold in the coming days.

Data Source: Tradingview

Shiba Inu (SHIB) – can this rally continue for long?

Shiba Inu (SHIB), like most meme coins, is one of the most volatile assets to buy. It is prone to wild swings and a 22% surge in a single day isn’t really big news. But there is some real optimism that indeed the rally is the start of something special. 

Besides, over the last few weeks whales have been buying SHIB in huge numbers, reflecting growing confidence in the market. 

Despite this, the token has faced major resistance at the $0.000029 mark. It will be interesting to see if the bullish momentum can surge past this threshold but so far, SHIB has been rejected every time it tested the price.

Is it a good time to buy SHIB?

There is no doubt that sentiment in cryptocurrency is now heading in a positive direction. This may suggest that investor appetite for meme coins is growing. So, SHIB is a decent buy right now. 

But as you would expect of any meme coins, there is always a lot of downside risk associated with these tokens. Make sure you understand the speculative nature of Shiba Inu before you buy.

The post Shiba Inu (SHIB) leads other meme coins in gains as the crypto market opens Monday on the rise appeared first on Coin Journal.

After seeing some significant bear pressure at the start of the year, Kadena (KDA) has been rallying. The coin is in fact way up from its 2022 lows and seems poised to continue in this upward trend in the near term. But how is the long-term outlook in 2022? Here are some highlights:

• Kadena (KDA) has surged by over 15% over the last 24 hours, trading at $7.13 at press time.

• The token is also up 62% from its lowest price recorded in 2022, suggesting it is fully rebounding.

• Despite this, KDA still remains lower than its 25- and 50-day moving averages and down 75% from its ATH.

Data Source: Tradingview 

Kadena (KDA) – Outlook in 2022

The recent rally that Kadena (KDA) has posted is quite impressive. But it also comes as the wider crypto market sees some improvements. The question is how far can the token go? Well, some analysts see KDA hitting $15 in the first quarter of 2022. That will represent an upswing of over 50% from its current price. 

But despite this, it is important to note that even with the recent 24-hour rally, KDA still remains lower from its 25- and 50-day moving average. This shows weakness, and if there is slowed sentiment in the market, the coin could bottom towards $1 before April.

Should you buy Kadena (KDA)

Yes, you should. First, the Kadena ecosystem is a promising project offering faster transaction speeds. Although the chain has not managed to attract the same kind of project as say Ethereum or Solana, we are still seeing some decent incentives towards developers. 

In the coming years, Kadena will compete with these other layer 1 chains. The fact that it has a market cap of $1.2 billion also suggests that there is a lot of room to do better in the future.

The post Kadena (KDA) continues to rally – How is the long-term outlook in 2022? appeared first on Coin Journal.