Kategorie: Altcoin News

Altcoin news about alternative blockchains and its crypto ecosystems.

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Cronos (CRO) could see a 15% correction in the coming days

Cronos (CRO) has continued to struggle to maintain its recent uptick in price. There were hopes that finally, the coin would manage to cross past $0.5, but despite bulls pushing it to the limit, CRO failed. The coin is now staring at a possibility of a major correction. Here is what to know:

  • The chart shows a serious RSI divergence that could suggest a pullback is imminent.

  • CRO was also rejected at $0.5 as upward momentum fizzled out

  • The coin has lost around 6% over the last 24 hours, with more to come.

Data Source: Tradingview 

Cronos (CRO) – Why a 15% is plausible

After a steady rise over the last two weeks, off-late CRO has been displaying several bearish technical signals. First, it seems the coin’s upside at the moment is capped at $0.48. In fact, CRO has tried to break above the $0.5 mark five times and has failed. 

It is clear that the coin has no upward momentum right now, and the only way is down. The RSI divergence also suggests that a pullback is going to happen at any time. We expect CRO to retreat towards $0.43 in the days ahead as it tries to generate demand. 

If bulls are not able to push the price back up again, CRO will bottom at around $0.41 or thereabout. However, if the coin can somehow manage to break the $0.5 barrier, then this analysis will become null and void. We do not see this happening though in the days ahead.

Why CRO has struggled past $0.5

So far, the $0.5 mark has proved to be the most difficult overhead resistance for CRO. It is likely that this is basically a psychological barrier. 

Since the coin has failed so many times before to smash past it, most traders would rather take a profit at around $0.5 instead of facing any serious upside risks.

The post Cronos (CRO) could see a 15% correction in the coming days appeared first on Coin Journal.

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Dogelon Mars (ELON) remains highly vulnerable despite the recent rally

Over the last two weeks, Dogelon Mars (ELON) has reported a sharp recovery from March lows. The coin, like many others in the market, is riding an upward wave of improved investor sentiment. But it seems like ELON is very vulnerable to a major sell-off. Here are the facts:

  • After that strong rally over the last two weeks, ELON has now firmly stagnated

  • The meme coin has since lost nearly 30% of its value from its highest price in March.

  • It is likely the downtrend will continue in the weeks ahead.

Data Source: Tradingview 

Dogelon Mars (ELON) – What to expect

We knew that it was a matter of time before the ELON rally lost a bit of steam. But it seems the meme coin is reversing faster than expected. After surging to $0.0000014, ELON was trading at its highest level this year, and it had managed to smash past several key resistance zones.

But the recent pullback is worrying. For instance, the meme coin has fallen about 30% from its March highs. More worryingly, it has dropped below $0.0000012, an important support zone that bulls couldn’t hold.

At the moment, it looks like the price is consolidating with very modest losses in the last 24 hours. If bulls are able to find enough demand, $0.0000012 will be the next target. Failure to cross over that price will mean another pullback will be likely.

How to play Dogelon Mars (ELON)?

Meme coins are very tricky because they can swing up and down very fast. But for ELON, there is a short-term play here. So far, the coin has fallen below $0.0000012. 

If somehow bulls can take the price above that, then you should consider buying. ELON will add at least 35% of its value above that resistance before any pullbacks. But for now, there is just too much risk to buy right away.

The post Dogelon Mars (ELON) remains highly vulnerable despite the recent rally appeared first on Coin Journal.

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Quantstamp (QSP) could rally to $0.1 – Here is how this will happen

As trade volume for Quantstamp (QSP) fell sharply over the last two days, the price action has somewhat slowed. It seems like the coin is trying to consolidate the gains made over the last week before trying to rise again. But how far can it really go? Well, we’ll discuss this further but first, here are the latest developments:

  • QSP is up nearly 83% from its lowest price in 2022.

  • The coin is also trading well above its 25- and 50-day moving averages

  • Despite this, Quantstamp is still facing major resistance before breaking to $0.1

Data Source: Tradingview 

Quantstamp (QSP) – The road to $0.1

The biggest threat for QSP bulls is the fact that the coin has actually rallied after hitting its lows this year. In fact, the price is almost double its lowest level in 2022 and as such, QSP may be ready for a correction. Despite this, other indicators appear bullish. 

For instance, QSP is now trading above its 25- and 50-day SMAs. This indicates an important bullish alignment. Also, the coin has consolidated gains in recent days, something that suggests people are not selling. What remains now is for bulls to try and smash the $0.078 resistance zone. 

QSP is still a bit further away from that. However, if the price action pushes above that zone, then $0.1 will be the next stop. As a result, QSP could offer an upswing of about 45% from its current price.

Quantstamp (QSP) – Should you go short or long?

As a long-term asset, Quantstamp is actually a very decent buy. The coin has incredible underlying fundamentals and should be perfect. But there is also a very good short-term play here that can lead to very good gains. 

$0.078 is the key, and If QSP manages to smash that, then there is enough upside to deliver at least 30% in additional gains.

The post Quantstamp (QSP) could rally to $0.1 – Here is how this will happen appeared first on Coin Journal.

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Terra (LUNA) is heading to $150 and it’s not a surprise at all

Terra (LUNA) pulled back slightly at the end of this week after seeing quite some sustained gains. The coin however still has a lot of room for growth and we expect it to show some decent uptrend in the weeks ahead. Here is what to keep in mind:

  • Terra (LUNA) is likely going to hit $150 in the near term.

  • The coin has positive momentum indicators despite the recent pullback.

  • A surge to $150 will represent nearly 40% of gains from the current price.

Data Source: Tradingview 

Terra (LUNA) – Why $150 is not surprising

The recent rally we saw in crypto over the last two weeks brought back hope that perhaps investor sentiment had turned positive. But there were some concerns that we may see a bigger pullback in major coins, including LUNA. However, this did not happen. In fact, after pulling back slightly on Friday, LUNA and most other coins regained upward momentum.

Also, since the start of March, LUNA has set three higher highs and the same number of higher lows as well. But it is the upper trend line on the chart that looks very interesting. 

While there is a chance the coin may turn bearish given the rising wedge between higher lows and higher highs, because of the current bullish momentum, we expect LUNA to break the upper trend line. This will then lead to massive gains that could see the coin surge past $150 in a few weeks.

Is it the right time to buy Terra (LUNA)?

For short-term traders, the current setup is somewhat a bit risky, but it offers the possibility of 50% gains. The perfect entry price would be around $105. Hold it out and exit at $150.

As for long-term investors, buying now gives you a chance to enjoy a decent uptick in your holdings as LUNA heads up in the near term.

The post Terra (LUNA) is heading to $150 and it’s not a surprise at all appeared first on Coin Journal.

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Harmony (ONE) targets $0.27 – Here is what to expect in the days ahead

Harmony (ONE) enjoyed a decent week. The coin managed to report double-digit gains but despite this, it failed to cross over a crucial resistance zone. However, we expect the coin to regain momentum and push further upwards. Here are some of the most important developments:

  • Harmony has faced crucial resistance at $0.18 in the last 7 days.

  • ONE was rejected several times at that threshold and has since pulled back.

  • It is likely the coin will retest that zone again this week and smash it in the process.

Data Source: Tradingview 

Harmony (ONE) – how it will get to $0.27

There is no doubt that the crypto market is now turning bullish. After a very difficult period at the start of the year, it seems most coins have managed to recover, and the only way is up. However, although Harmony has gained considerably, the coin has been rejected firmly at its 200-day SMA of $0.18. 

As a result, ONE appears to have lost a bit of the upward trajectory. However, looking at the price action today, the coin was consolidating at $0.16. It is likely that ONE will finally break past $0.18 in the week ahead. 

Once this happens, bulls will be in full control and are likely to take the coin towards $0.27 before any pullback. This represents an upswing of nearly 70% from the current price.

Why you should consider Harmony (ONE)

Even with the recent gains, ONE still remains nearly 60% from its all-time highs of $0.38. But the bullish momentum we are seeing in the market right now makes the coin a decent buy for both short-term plays and long-term ones. 

The key will be to watch how long it takes for ONE to cross $0.18. Once this happens, then expect a decisive uptrend that will deliver double-digit gains easily in the near term.

The post Harmony (ONE) targets $0.27 – Here is what to expect in the days ahead appeared first on Coin Journal.