Kategorie: Altcoin News

Shiba Inu (SHIB) was by far one of the hottest coins of 2021. People made millions of dollars from the meme coin, but after hitting all-time highs last year, it’s been a bumpy ride for the Dogecoin (DOGE) killer. However, SHIB did manage to snap its sustained downtrend. But can it finally start surging? First, some highlights:

• The recent price action has seen Shiba Inu (SHIB) drop nearly 70% from its all-time highs last year.

• 56% of all Shiba Inu holders right now are losing money from their initial investments.

• There are some signs that SHIB is rebounding with the potential for a massive bullish rally.

Data Source: Tradingview.com 

Shiba Inu (SHIB) – Price prediction and analysis

Looking at technical indicators, Shiba Inu (SHIB) is currently on a “buy zone”. In essence, the price offers the perfect chance for bulls to get in. But it hasn’t always been this way. SHIB has slumped decisively over the last few weeks, tanking 70% from its all-time highs.

But the meme coin has shown signs of recovery. At the time of writing, it was trading at $0.00002903, up nearly 7% in 24 hours. The downward trend appears to have reversed. 

While there is still a lot of downside risk, analysts see a potentially robust rally that could take SHIB to nearly $0.000078. Besides, whales still hold a huge chunk of SHIB. This could suggest they are also holding out for a rally.

Should you buy Shiba Inu (SHIB)?

Shiba Inu (SHIB) is a meme token that is highly volatile and risky. If you would like to use it as a speculative asset, probably wait a few days and gauge how sentiment changes in the wider crypto market.

If we start to see an increased investor appetite for risk, then SHIB would be a good buy. But until then, the meme coin still remains very risky.

The post Shiba Inu (SHIB) snaps sustained downtrend – Can it finally rally in 2022? appeared first on Coin Journal.

Decentraland (MANA) has been bouncing off from its early January slump. The metaverse token was one of the hottest coins in 2021, and despite the bearish trend in January, it seems like MANA is about to turn a corner. This uptrend could bring an upswing of up to 15%. Here are some highlights first:

• Decentraland (MANA) is currently swinging between $2.20 and $2.82, a daily demand zone that could trigger bullish action.

• At the time of writing, the token was trading at $2.96, up nearly 5% in 24-hour intraday trading.

• MANA is also slightly above its 100-day Simple Moving Average, suggesting an uptrend is starting to emerge.

Data Source: Tradingview.com 

Decentraland (MANA) – Price action and prediction

After slumping quite substantially for the most part of the New Year, Decentraland (MANA) is starting to show signs of recovery. The coin has seen a 5% surge in 24 hours, albeit it’s still around 8% down for the week.

But crucially, MANA is now above its 100-day SMA. If current momentum holds, we expect the token to test its 50-day SMA of $3.63 in the coming days. However, investors should expect significant resistance around the $3.26 mark. 

Despite this, we are watching closely to see if MANA will consolidate around the 100-day SMA. If the token falls back from that position, it could suggest weakness, something that could easily push the price back to $2.20.

Should you buy Decentraland (MANA)?

Well, right now Decentraland (MANA) appears to be a bit discounted. The token is way below its all-time highs, and with metaverse related tokens expected to heat up in the near future, adding MANA to your portfolio is highly recommended. There could also be a short-term play for people who want to ride the price recovery after January’s slump, but it is very risky.

The post Decentraland (MANA) is bouncing off its January slide and could swing 15% up appeared first on Coin Journal.

After a sluggish start to 2022, Oasis Network (ROSE) is finally rebounding sharply. The token appears to have weathered the crypto storm seen over the last 7 days and is now firmly on the up. But can this uptrend actually last? Well, here are some highlights first:

• At the time of writing, ROSE was trading at $0.4203, up nearly 25% in 24-hour intraday trading.

• Oasis Network has distinguished itself as a fast-growing alternative to Ethereum and has earned its place in the market.

• The token is now above its 20- and 50-day simple moving average, an indication of a bullish alignment.

Data Source: Tradingview 

Oasis Network (ROSE) – Price prediction and analysis

Oasis Network (ROSE) has seen a massive price recovery in the last few days. Although overall, the crypto market has slumped, ROSE is outpacing every other coin right now. At the time of writing, the token was up 25% in 24-hour intraday trading. 

ROSE has also paired some of the losses we saw the past week. Although it’s still down around 1.26% for the last 7 days, it’s still way better compared to the average in the market. 

We have also seen the price action surge above 20- and 50-day SMAs, suggesting that there is still more bullish momentum to come in the near term. The relative strength index or RSI is also in the neutral zone, another positive sign for bulls. With these indicators, it is likely that ROSE will continue this uptrend in the near term.

Should you buy Oasis Network (ROSE)

The Oasis Network (ROSE) is seen as a serious alternative to Ethereum. The blockchain has in fact put aside $160 million to incentivise developers to create on its chain. 

Although it still has a long way to go to catch up to Ethereum, so far, it has done quite well. For the long-term crypto investor, this is a good token to buy.

The post Oasis Network (ROSE) has rebounded sharply – Can this uptrend keep going? appeared first on Coin Journal.

2022 hasn’t started all that well for crypto investors. The market appears to continue the downtrend we say at the tail end of 2021. With no signs of sentiment improving in the coming days, it is likely the decline we have seen at the start of the year will continue well into January. But can you actually buy this dip? Here are some highlights first:

• Nearly all major top ten coins by market cap have been trading in the red over the last seven days or so.

• The downward price pressure has largely been triggered by a hawkish fed and potential rate hikes this year.

• There are still a lot of downside risks for people who want to buy this dip right now.

Nonetheless, there are some cryptocurrencies that have been discounted thanks to this downward price action. And since they still have decent fundamentals, this would be the right time to buy. Here are two of the main ones:

Terra (LUNA)

Terra (LUNA) was one of the top performers in 2021. The coin had also surged quite impressively at the tail end of the year. However, the crypto winter at the start of 2022 has sent LUNA on a downward spiral. 

Data Source: Tradingview.com 

At the time of writing, the coin was trading at $66.15, down nearly 8% in 24 hours. Most importantly, LUNA is also down by nearly 30% over the last 7 days. This gives investors who have always wanted to get into LUNA a huge discount on the price.

Gala (GALA)

Gala (GALA) is a blockchain-based gaming ecosystem. We can all agree that blockchain gaming is going to be huge in the future. Also, GALA is one of the most promising projects in this space. 

Despite showing exemplary performance last year, the GALA token is now 35% down in 7 days. For folks who want some exposure in crypto gaming, this is the time to get GALA.

The post Best cryptocurrencies to buy during the January Dip appeared first on Coin Journal.

Ravencoin (RVN) is right now one of the best performing coins in the market. The token is up 20% over the last week. These gains would be even higher were it not for today’s broader crypto pullback that saw RVN lose over 10% in 24 hours. So, what is Ravencoin (RVN), and should you even consider it? The analysis is below but first, some highlights:

• This week’s gains have helped Ravencoin (RVN) surge past its December lows by nearly 80%.

• At press time, the token was down 10% in 24-hour intraday trading but is still 20% up over the last 7 days.

• Despite this positive momentum, Ravencoin (RVN) still remains 62% from all-time highs in 2021.

Data source: Tradingview.com 

Ravencoin (RVN) – Price analysis and prediction

Ravencoin (RVN) was launched 4 years ago. During this period, the token has reported significant growth. The recent 7-day surge suggests that perhaps there is way more to come from Ravencoin (RVN). 

Besides, at the time of writing, the coin had a market cap of around $1.2 billion, an indication that there is still enough upside to unlock more value in the long term. Right now, the coin is also above its 25- and 50-day moving average. 

Despite the 10% 24 hour pull back, Ravencoin (RVN) is still above its resistance level of $0.115. We expect the token to trade above this threshold as long as sentiment in the broader crypto doesn’t deteriorate further.

Why you should buy Ravencoin (RVN)

Ravencoin (RVN) is built on a fork of the Bitcoin code. It is designed to be a peer-to-peer blockchain network that facilitates the transfer of crypto assets in the most efficient and less costly way. So far, the project has earned the trust of many investors. Although it is not really the most promising blockchain project today, it could still offer decent returns for long-term plays.

The post Ravencoin (RVN) has been surging the past week – should you buy it? appeared first on Coin Journal.