Kategorie: Altcoin News

The metaverse wipe-out we saw during the last week has pushed a lot of coins way lower from yearly highs in 2022. Gala Games (GALA) has not been spared, and the coin has been on a massive downturn since the end of February. But are there signs of a recovery? Here is what we know:

• GALA could rise above its 20-day EMA in the days ahead.

• The EMA will create important support for price consolidation in the near term.

• The meta coin was trading at $0.22 at press time.

Data Source: Tradingview 

Why does the 20-day EMA matter for GALA?

Trend reversals are very crucial in technical analysis. In most cases, when coins have dropped consistently over a long period of time, bulls are often watching for the right trend reversal to buy. For GALA, rising above its 20-day EMA of $0.28 could signal a trend reversal is coming. 

This will in turn trigger a buying frenzy that will push the meta coin well above $0.36. This will be almost 80% above the current price which is presently at $0.22. The most important indicator to watch in this setup is the $0.21 support. 

The bulls will need to defend this zone and create enough momentum for the next leg up. If GALA falls below that threshold, it will be very hard to see any recovery. In fact, the coin could easily bottom to $0.17 before it rises again.

Why is Gala Games (GALA) trending lower?

Much of these losses were occasioned by news that Meta Platforms, one of the key tech drivers in the metaverse, missed earnings expectations. But the high market volatility due to economic and geopolitical pressures has played a big role. 

This volatility is sadly here to stay for the foreseeable future. But even with that, overall, the longer-term outlook for GALA remains largely in positive territory.

The post Gala Games (GALA) Could rise above the crucial 20-day EMA appeared first on Coin Journal.

eToro has confirmed that it has listed Fantom (FTM) into its trading platform. The social trading platform also listed Theta Network as well. The move is expected to be huge for Fantom, which has recently come under massive selling pressure. Here are some of the details.

• Shortly after the eToro listing, Fantom (FTM) went up by around 15%.

• The coin did pull back slightly and was trading at $1.2 at press time.

• eToro is one of the biggest trading platforms in the world.

Data Source: Tradingview 

What does the listing mean for Fantom (FTM)

Getting listed on major exchanges like eToro will always be positive for any crypto. It’s the reason why Fantom (FTM) was up by a whopping 15% shortly after the news broke. We also saw trading volume jump by nearly 75% in 24 hours. This suggests that there were a lot of people trying to buy the coin via eToro.

There are now 57 main cryptocurrencies trading on the platform, with FTM and Theta being the latest. It is likely that we are going to see a sustained surge in trade volume and price for FTM in the coming days. Despite this, the medium-term outlook for the coin still remains very risky. 

Just recently, Fantom saw a massive drop in Total Value Locked after one of the key developers left the project. While the price has stabilised from the wipe-out we saw last week; investor confidence remains very weary.

What’s the future of Fantom (FTM)

The sudden fall in TVL was a big red flag for Fantom investors. But there is no arguing that this is a very promising DeFi project, and more is yet to come from it. 

We do expect the coin to rebound in the near term and the listing on eToro will help to speed this up. As of now, Fantom still remains a decent project.

The post Fantom (FTM) surges by nearly 15% after getting listed on eToro appeared first on Coin Journal.

The Origin Protocol (OGN) has taken a plunge today of nearly 10%. This comes even as most coins post gains. But despite this, the long-term indicators for OGN remain positive. How long they stay, that way is another story. But here is what matters:

• The OGN token remains slightly above its 25- and 50-day simple moving averages.

• The coin is currently trading at $0.45, down by around 10% over the last 24 hours.

• OGN is also down nearly 88% from its all-time highs last year.

Data Source: Tradingview

Can Origin Protocol (OGN) stay above water?

The fact that OGN is slightly higher than its 25 and 50-day simple moving averages is a good sign. It means that it’s yet to enter the bear market. But there are worries that this may not be the same any longer. The good news is that OGN appears to have completely bottomed. 

It is 88% lower than its ATH and has trended downwards for the last week. In most cases, coins will reverse the trend once they bottom out. This reversal could come very soon for OGN. In fact, despite the 10% loss today, some analysts expect OGN to consolidate. 

The coin could easily retest $0.8 in the near term, something that will lead to gains of at least 40%. However, the key support zone to watch at the moment will be $0.34. Any drop below that price will trigger a bearish fall.

Is Origin Protocol (OGN) a good investment?

The Origin Protocol is a DeFi project that brings NFT integration as well. It also has a yielding stablecoin as part of its ecosystem, something that makes it quite unique compared to other projects. 

Although OGN has been on free fall since the end of 2021, it still has outstanding long-term potential. For this reason, you can consider it if you are looking to add more DeFi coins into your wallet.

The post Origin Protocol (OGN) maintains positive momentum indicators despite plunging 10% today appeared first on Coin Journal.

• ICP is now trading at over 98% off its all-time lows.

• With its fundamentals, the odds are that it could bounce off current prices. 

• The broader market is turning bullish a factor that could boost the price. 

Sometimes the best plays in terms of ROI aren’t necessarily the strongest fundamentally. In some cases, what matters is the price is right, then counting on the broader market to create the momentum. 

One such play at the moment is Internet Computer (ICP). Internet Computer has been on a downtrend since it launched back in 2021. When it launched, ICP was trading at over $500. Currently, ICP is trading at $15, a pale shadow of its former self. This means it is down by over 95% from its all-time highs.

Logically, it can’t go much lower than this unless it goes to zero, which is highly unlikely. In essence, now that the market is looking up again, the chances are that it can only go up from here. Considering how much value it has lost since launch, it could also be one of those that give investors the highest ROI.

Besides, ICP is not exactly a worthless cryptocurrency. While it started with a lot of momentum as a project that aimed to decentralize the internet, ICP faced allegations that it was heavily centralized, a factor that hit its image hard. However, the project has worked hard to prove that it is decentralized, and as it moves towards meeting its long-term objectives, the price could start to rise again.

ICP Set for a breakout

Source: TradingView

Internet Computer has been trading in a descending triangle for weeks now. However, selling volumes have dropped over the past week, signaling a potential breakout, especially now that the broader market is showing bullish signs again. If there is a breakout, ICP could easily test $50 in the short term.

Summary 

Internet Computer was down by over 98% from its all-time highs in 2021. While there are no guarantees that it can retest its all-time highs, the odds are that it could bounce off current prices and be among the cryptos that could give a high ROI.

The post Why Internet Computer could make risk-chasing investors rich appeared first on Coin Journal.

The Cosplay Token (COT) has been listed in two major exchanges in Japan over the last few days. This was done simultaneously. It is a big move for the token in an effort to get more visibility. Here is what we know so far:

• The COT token was listed on Zaif and the SAKURA exchange

• Both these exchanges are in Japan, one of the leading crypto and cosplay markets.

• At the time of writing, Cosplay (COT) was trading at $0.194462, up about 10%.

Data Source: Coingecko 

Cosplay Token (COT) – What to expect from the listing

In most cases, listings are always good for tokens. After all, if coins are available in some of the leading exchanges, it’s easier for potential investors to buy them. The fact that COT is getting listed in Japan is a huge plus. Japan is one of the biggest crypto and cosplay markets. 

News of the listing seems to encourage investors to buy up COT. At press time, the coin had actually gained some ground. It was trading at $0.194462, up 10% for the day. 

The listings on Zaif and SAKURA are now live. As more details on the listing hit, the coin will become widely available in the next 24 hours. We can expect to see some positive price action in the coming days. 

Should you consider Cosplay Token (COT)

The Cosplay Token (COT) is not one of the biggest crypto assets out there. In fact, it’s a niche-specific token that looks to target the $45 billion cosplay industry. 

It is however getting some traction. While we don’t expect it to make 100x in the near term, there is still some upside here for decent short-term gains. For investors willing to take a chance, buy it now.

The post Cosplay Token gets listed in two major exchanges in Japan – Here is what to expect appeared first on Coin Journal.