Kategorie: Altcoin News

Shiba Inu (SHIB) appears to be facing several key bearish elements that could sink the price to a new yearly low. The coin, which was the star of 2021, has faced a lot of pressure this year. But how do you play out this possible drop? Details are below but first, some highlights.

• SHIB has remained lower than its 55- and 200-day SMAs in recent weeks.

• The coin is also highly susceptible to geopolitical headwinds in Europe.

• At press time, SHIB was trading at $0.00002173, down 3% for the day.

Data Source: Tradingview 

Shiba Inu (SHIB) – how to play this downtrend?

The bearish sentiment around Shiba Inu is not surprising. In most cases, when the broader market drops, meme coins like SHIB tend to get the biggest hit. After all, not many investors will be targeting meme coins if the general risks in the market remain high. 

The fact that SHIB is now below its 55- and 200-day SMAs suggest a bearish alignment. The coin could drop towards its main support of $0.00001704 before it finds any leg up. This will be a 25% plunge to the downside, and it could mean SHIB will be at its lowest in 2022.

The geopolitical pressures in Europe won’t make things easier as well. The best way to play this out would be to short SHIB in the near term and go long once the price bottoms at $0.00001704.

Has Shiba Inu (SHIB) lost momentum?

After dominating the crypto market in 2021, there are fears that Shiba Inu may have lost momentum. After all, meme coins tend to fade away very fast. But SHIB is huge, and it’s not going away anytime soon. 

After the record-breaking highs of 2021, it was expected that in 2022 the coin would struggle to gain such traction. But despite this, it still remains one of the best meme coins to invest in.

The post Shiba Inu (SHIB) could hit yearly lows with a 25% drop – How should you play this out? appeared first on Coin Journal.

Over the last few months or so, Jasmy Coin (JASMY) has largely been on a strong bearish trend. The coin has tried several times to build some upward momentum but has failed in most attempts. So, what does the future hold for JASMY investors? Here are some highlights:

• The coin is currently closing in on its all-time low.

• JASMY has also fallen nearly 100% from its all-time highs.

• At press time, Jasmy Coin (JASMY) was trading $0.01266

Data Source: Tradingview 

Jasmy Coin (JASMY) – The future prediction

The broader crypto market has of course slumped and many coins have posted losses. But Jasmy Coin (JASMY) has been on another bearish level. The coin is in fact nearing all-time lows right now. It has also crashed massively from the previous ATH. 

Jasmy Coin (JASMY) also remains lower than its 25-day simple moving average. All these signs point to a continued bearish outlook in the near term. But perhaps one sign of optimism is the fact that the Relative Strength Index has moved to the oversold territory. This could suggest that perhaps Jasmy Coin (JASMY) has fallen to the limit and the only way now is up. 

The next key support for the Japanese token will be $0.010. We expect the coin to hit that level before it finds another leg up. But any bullish surge could find significant challenges breaking above the $0.02 mark. At press time, Jasmy Coin (JASMY) was trading $0.012.

Jasmy Coin (JASMY) – Is it a good buy?

Well, it’s surprising to see Jasmy Coin (JASMY) bottoming like this. It is after all a very decent project that looks to provide a simple way for businesses and individuals to monetize data. 

Although there are still other projects like Ocean Protocol that are doing well in this area, Jasmy Coin (JASMY) still remains a solid option. It could be a great option to purchase, especially now that it’s completely bottomed.

The post Jasmy Coin (JASMY) continues its bearish trend – What does the future hold? appeared first on Coin Journal.

The crypto market has not had the most successful start to the year. In fact, Q1 in 2022 has been a brutal time for most assets. But there is a chance that the second quarter of the year may bring a change in fortunes. Here are some highlights:

• Investors will price in the macroeconomic and geopolitical pressures in the weeks ahead.

• Despite high volatility, the general trend for 2022 is predicted to be positive.

• Some projects still remain highly undervalued because of the recent slump.

For investors who are looking to profit from a Q2 rally in the crypto market, the following are some top 3 assets to buy:

Internet Computer (ICP)

After showing some signs of life in February, Internet Computer (ICP) is back on its downtrend. In fact, the coin has been losing money since the tail end of 2021. 

Data Source: Tradingview 

Although we do not expect a bullish reversal in the long-term trend to come soon, the second quarter of the year could prove very decisive. ICP is now trading at $16.18. It’s down 7% for the week. This is a perfect opportunity to grab it.

Kadena (KDA)

Kadena (KDA) is a promising blockchain project, and even though it’s been around for a while, it still offers an array of incredible future potential. KDA right now has a market cap of $1.1 billion and is trading at $6.5. The token has moved sideways, for the most part, this month but still remains very low compared to the highs of 2021. It could rebound sharply in Q2 2022.

Oasis Network (ROSE)

After falling for around 10% last week, it doesn’t seem like Oasis Network (ROSE) has anywhere to hide. The token is however highly undervalued and underrated. Investors are likely to start giving it the attention that it needs and as such, we may see a sharp rise in the coming weeks.

The post Top 3 crypto projects that could rally in the second quarter of 2022 appeared first on Coin Journal.

As most coins in the crypto market continue to slump, Immutable X (IMX) has been posting incredible gains over the last week or so. Recent chain news has driven much of this surge but can IMX keep this going? Here are some highlights:

• Immutable X (IMX) announced it had raised $200 million to fund the expansion of its ecosystem.

• Despite the rally, Immutable X (IMX) still remains significantly lower compared to its ATH

• At press time, the coin was trading at around $1.8.

Data Source: Tradingview

Immutable X (IMX) – Price prediction

The recent 50% surge for Immutable X (IMX) came as a welcome surprise for investors. The market over the last few days has been very volatile and it’s been harder every day to find some good news across the board. But despite this, we expect IMX to pull back slightly. 

In fact, at the time of writing, the coin had lost around 5% over the last 24 hours, trading at $1.85. The most important thing to watch right now is the $1.95 mark. If indeed, IMX can find enough bullish uptrend to test or even cross that threshold, then we could see more gains coming in the near term. 

But there still remains a significant risk of a sell-off. When coins rally like this, they will plateau at some point. For IMX, it seems that the point is $1.8. A break below that could lead to more losses.

Is Immutable X (IMX) worth it?

There is no doubt that Immutable X (IMX) has fallen sharply since it reached all-time highs a few months back. The coin has also been on a bearish trend for the most part of this year. 

While this can be a problem for the short term, from a long-term point of view, Immutable X (IMX) still remains a decent buy with significant potential.

The post Immutable X (IMX) gains over 50% in recent weeks even as most crypto-assets continue to slump appeared first on Coin Journal.

The macroeconomic picture and increased geopolitical pressure have seen Harmony (ONE) drop quite significantly since January. Although there have been periods where the token has threatened to rise, it has always come crashing back down. But is this about to change? Here are some highlights first:

• Harmony (ONE) has established a strong demand zone between $0.106 and $0.121.

• At press time, the coin was slightly trading above that at $0.125.

• If ONE enters that zone, we could see some increased buying from bulls.

Data Source: Tradingview 

Harmony (ONE) – Is a bull run feasible?

As noted above, for most parts of 2022, Harmony (ONE) has largely been on a downtrend. It is highly unlikely that this bearish trend will reverse in the near term. As it is, sentiment in the crypto market remains largely fearful as investors weigh in increased macroeconomic and geopolitical pressures. 

But short-term bull runs are still possible for Harmony (ONE). The coin is currently headed to an important demand zone of between $0.106 and $0.121. This is likely going to trigger a bullish run that could push ONE towards $0.164 in the near term. 

This will represent a 30% gain from the current price, which at press time was $0.125. But sustained gains above $0.164 will be highly unlikely. ONE is likely to pull back once it tests that price and try to find more demand once again.

Why is Harmony (ONE) undervalued?

The key for any investor is to find a crypto asset that is undervalued, and Harmony (ONE) is one of them. The coin has fallen sharply from all-time highs and has been reporting losses for most parts of 2022. 

But the project still has a lot of potentials, and the underlying fundamentals are very good. In fact, the general outlook for Harmony in 2022 is still very positive despite recent turmoil. It is a great asset to grab right now.

The post Harmony (ONE) nears a crucial demand zone – is a bull run finally here? appeared first on Coin Journal.