Kategorie: Altcoin News

Solana (SOL) has struggled to report any gains after trading in losses over the last three sessions in a row. The coin now looks very weak, and unless something drastic happens, it’s headed for further decline. Here are some highlights:

• SOL has fallen sharply in the last 24 hours, dropping by almost 10%.

• The coin still remains above a crucial $100 support zone

• But this is unlikely to hold in the coming days

Data Source: Tradingview 

Solana (SOL) – How far can it fall

After surging at the end of March, SOL slowed sharply in April. The coin has fallen from its $140 highs and is now just above the $100 mark. SOL even managed to push below its lowest price in March of $107. This could suggest that we are on the brink of a trend reversal that could see more losses follow. 

In fact, if bulls lose the crucial psychological support zone of $100, then the only way for SOL will be downwards. The $100 and the $93 support zones have proved very strong in the past. While there may be some resilience in the days ahead, the $100 will be lost, and bulls will try to consolidate at $93. 

But if $93 is also lost, SOL will enter an intense downward spiral that could bottom at $77 before any leg up. This will represent a loss of nearly 30% from its current price and almost a 100% decline from its highest price in March.

Is it good to own Solana?

Solana is a big project, and if you don’t have it yet, this would be a nice time to buy it. However, because there is a significant downside risk, you may want to wait for a week or so. 

Based on current indicators on the chart, SOL is likely to bottom. When that happens, you can buy and hold SOL for the future.

The post Solana (SOL) struggles at a crucial resistance – Here is why it could drop further appeared first on Coin Journal.

The broader crypto market has started the new week the same way it ended last week. Most coins have continued to report losses. But in the middle of all this, Decentralized Social (DESO) appears to be holding steady in fact; the coin is relatively bullish compared to the rest of the market. Here is what you need to know:

• DESO has surged by nearly 10% over the last 24 hours, outperforming the market.

• The coin also remains well above a crucial support zone of $37.5

• But massive whale holdings open DESO to wild volatility

Data Source: Tradingview 

Decentralized Social (DESO) – The price action

As noted above, DESO has managed to outperform the whole market by a mile. As most coins see single-digit drops today, DESO has surged by over 10% over the last 24 hours alone. The coin has now gained nearly 70% from its lowest point in 2022 and looks to keep going. 

Besides, DESO remains above the crucial support zone of $37.50. As long as bulls keep the price action above this, then we could see DESO thrust towards $54 in the near term. The biggest risk factor, however, is massive whale accumulation for this coin.

This makes it prone to wild volatility if big wallets decide to sell. In fact, a scenario where DESO loses the $37.5 support is possible. This could bring massive sell-off pressure and push the price downwards.

Is DESO a profitable asset?

Well, it is and it depends on how you want to play the current setup. DESO may still add at least 20% of its value before it corrects, so there is a short-term play here. This will however depend on whether whales decide to sell or not. 

Also, DESO is fairly decent as a long-term asset. We believe the coin has the potential to touch $100 by the end of 2022, which will be a 100% return.

The post Decentralized Social (DESO) shows bullish signs even as the rest of the market slows appeared first on Coin Journal.

There is no other asset class in the world that can deliver the kind of returns that crypto offers. People have made 100x on capital easily in the market, while some cons like SHIB have simply delivered insane growth. Here is why crypto offers the best opportunity to grow your money fast:

• The market has a history of massive returns over the last two decades.

• The crypto market also has a lot of liquidity which makes it easier to buy and sell.

• Demand for cryptocurrencies is growing each and every day, with new projects coming in.

But what if you just wanted to make 5x your money this year? Well, we have 3 projects below that could offer this possibility.

Waves (WAVES)

The Waves (WAVES) protocol has been one of the top perming crypto assets in the market over the last month. The coin has seen more than 2x growth in less than two or three weeks. 

Data Source: Tradingview 

Although some of these gains have retreated after a small correction, it is likely that WAVES will continue to rise before the end of the year. The potential to deliver 5x or even higher by the turn of 2023 is indeed a huge possibility.

Biconomy (BICO)

In addition to its low market cap, Biconomy (BICO) is also backed by superb underlying fundamentals. The project is designed to act as a multichain relayer protocol that helps improve transaction speeds and reliability for DAPPs. So far, BICO has been getting a lot of positive press, and it’s likely that a 5x jump this year is possible.

Guild of Gordians (GOG)

Play-to-earn games are expected to dominate the crypto industry for years to come. We saw projects like Axie achieve massive success in 2021. Guild of Guardians (GOG) is hoping to also achieve this and it has the potential to really explode. The coin is at around $16 million in market cap.

The post Best cryptocurrencies to 5x your money this year appeared first on Coin Journal.

One of the best ways to make money from crypto would be to target low-cap coins. Now, this does not mean that all low cap projects will go on to make it big. But in most cases, if you want to grow your capital fairly fast, such low cap coins would be just perfect. Here is why:

• A low cap coin often has relatively low value with room to expand.

• Most low cap coins tend to have low coverage by the media and other investors.

• Almost all coins that have delivered 10x or more have often been low cap assets.

With this in mind, it should be the responsibility of any investor to hunt down promising low cap coins and lock them in. Here are 3 options you can consider now:

Base Protocol (BASE)

The Base Protocol (BASE) is basically a crypto asset whose value is pegged on the market cap of the entire crypto industry. In essence, the price action of these coins is based on how the overall market cap of the industry moves. 

Data Source: Tradingview 

BASE is designed to help investors bet on the entire crypto market without having to buy specific coins. It is a very interesting project, and when you consider the market cap right now is around $1.1 million, the potential for growth is massive.

Fetch.AI (FET)

Fetch.AI (FET) is an NFT inspired project that wants to create a robust and social sharing culture. The project is relatively small, with a market cap of around $250 million. With NFTs really heating up, it is likely that FET will see more growth in the medium term.

Augur (REP)

Augur (REP) is a prediction markets aggregator that hopes to create a fully decentralized prediction market community. It has a powerful ecosystem and a stellar team of experts to back it. The project as of now has a market cap of around $140 million.

The post Top low cap crypto projects that have so much potential appeared first on Coin Journal.

2021 was seen as one of the best years for crypto assets. Many coins made it big last year, and there was hope that this trend would carry on even in 2022. But the market has stagnated a bit and lost some of the momenta we saw at the end of 2021. But 2022 could still be a big year for crypto investment. Here is why:

• The overall risk in other assets, including equities is now very high.

• Crypto is likely to outperform traditional assets by a huge margin in 2022.

• The crypto market has dipped slightly and should be perfect for value investing.

So, if you are thinking of adding some crypto assets into your portfolio over the coming months, here are 3 coins to consider.

Ethereum (ETH)

A lot of positive things have been happening with the Ethereum (ETH) chain over the last few months. The chain is moving towards a proof of stake consensus that will help enhance scalability and efficiency. 

Data Source: Tradingview 

Ethereum is also expected to report record fees this year as more and more DAPPs flock towards its ecosystem. Considering that ETH has fallen quite substantially from its 2021 highs, it could be a very decent buy.

STEPN (GMT)

Hopes about the rise of the metaverse have been quite substantive over the last few months. 2022 is seen as perhaps the breakthrough year for metaverse tokens and as such, it won’t be a surprise if coins like STEPN (GMT) surge. While there are many other metaverse tokens to watch, this one is a very promising one.

Shiba Inu (SHIB)

Shiba Inu (SHIB) made massive headlines last year with recording-breaking growth. It has since lost a lot of the gains it made in 2021 but this does not mean SHIB is down and out. In fact, it could deliver impeccable gains for investors in 2022 but not as much as we saw last year.

The post The best cryptocurrencies to buy before the end of 2022 appeared first on Coin Journal.