Kategorie: Altcoin News

Komodo (KMD) has announced that it is adding interoperability support for AtomicDEX with a host of 13 other blockchains. It’s the latest move in cross-chain integrations by Komodo (KMD). The news saw its native token surge by nearly 50%. Here are some highlights:

• The interoperability integration with AtomicDEX will now make cross-chain transactions easier.

• Komodo’s native token has jumped from lows of $0.44 to $0.6 in response to the news.

• At press time, those gains had fallen a bit and the coin was down by 7%, trading at $0.5.

Data Source: Tradingview

Komodo (KMD) – How can interoperability help it grow?

Cross-chain interoperability remains one of the most important topics in the crypto industry. The ability to conduct transactions across various blockchains remains elusive but not impossible. Komodo (KMD) is hoping to lead the charge in this regard. 

So far, the project is adding support for 13 chains. AtomicDEX remains among the very few decentralized exchanges that have excellent cross-chain support. The platform is not just compatible with the Ethereum Virtual Machine but with other projects as well, including Dogecoin. 

Also, Komodo is making a major push to bring NFTs to its ecosystem, including its own exclusive NFT collection. All these moves are designed to expand the ecosystem, and in the end, this will be reflected in the price. KMD is now trading at $0.5 and as sentiment in the market improves, expect the coin to surge further.

Is Komodo (KMD) a good buy?

Yes, Komodo (KMD) has really shown a lot of promise. The focus on cross-chain interoperability is a big move. Although there are challenges and weaknesses, there is no doubt this is the way to go for the blockchain industry.

Komodo appears to be leading the way, and as such, it is a decent investment right now. The project also has a market cap of $70 million so it can grow further.

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Axie Infinity (AXS) has seen some correction after surging quite impressively earlier this month. The coin has seen a 50% retracement of its price and is now looking well and truly in a bear market. But despite this, we still think there is real potential for a decent upside. Here are some highlights.

• In recent days, AXS has bounced off between $45 – $49 after a 50% price retracement.

• The coin could however pull back up to $55 in the near term.

• At press time, AXS was trading at $49, down nearly 8% over the last 24 hours.

Data Source: Tradingview 

Axie Infinity (AXS) – The outlook so far

It was largely expected that at some point, the crypto market will pull back after surging in February. But much of the slump we are seeing right now has largely been triggered by geopolitical tensions in Europe. 

Axie (AXS) has as a result, seen a 50% retracement from its early February highs. At the moment, the price action has been bouncing off between $45 and $48. We don’t think this will remain the case for long. In fact, we expect the coin to test its overhead resistance of $55 in the coming days.

This will represent an upswing of around 15% or thereabout. While we don’t see AXS reclaiming its February high of $72, bulls will try to consolidate above $55 before the next leg up.

Why you should put Axie Infinity (AXS) on your watchlist

Metaverse and blockchain gaming tokens delivered insane growth last year, Axie Infinity included. While most of these tokens have slowed this year as the broader market continues to struggle, the metaverse is one of the most exciting areas of the crypto-verse.

Besides, it’s just recently when AXS was trading at over $200. It’s not inconceivable that the coin may get there again.

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It doesn’t seem like long ago when there was talk of Solana (SOL) smashing past $500. But the altcoin, like many assets in the market, has seen massive corrections. The recent one came barely a few days ago, and bears now have the upper hand. Here are some highlights:

• Solana (SOL) will continue to see more weakness and could hit $75 in the days ahead.

• At press time, the coin was selling for $83, down about 5% for the last 24 hours.

• There are fears that severe headwinds in the market could trigger a complete price capitulation.

Data Source: Tradingview 

Solana (SOL) – Where does it end for bears?

There is no arguing that right now, bears have the upper hand as far as Solana (SOL) goes. The coin has faced one of the largest sell-offs of any major coins in the last week or so, and based on the chart pattern; bears are targeting $75 in the coming days. 

Also, bulls have struggled to gain any traction. In fact, our analysis shows that for this bearish outlook to be invalidated, the coin would have to push a weekly close of $93 on Friday.

While this is not entirely impossible, based on the current sentiment in the market and prevailing geopolitical factors, it is highly unlikely. We are going to watch and see if the weakness continues below $75.

Is Solana (SOL) still hot?

When Solana (SOL) came out, it was by far one of the hottest projects in crypto, and it remained so for quite some time. It’s still arguably one of the most promising coins to buy. 

But with the current volatility in the market, it’s probably not the best time to invest. It would be advisable to watch the sentiment and buy when there are some signs of improvement.

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The February crypto boom was kinder to most metaverse tokens, and Decentraland (MANA) was not any different. After the initial slump in January, the coin had rebounded and started to show signs of promise. But things have taken a turn in recent days:

• MANA at one point tested the highs of $4 during the February run.

• The coin has since fallen sharply ever since, trading at $2.66 at the moment.

• MANA has also fallen past a crucial support zone of $2.7.

Data Source: Tradingview 

Decentraland (MANA) – where does it move next

There was a lot of bullish commentary on Decentraland (MANA) in recent days. In fact, despite showing some weakness, there was real hope that the metaverse token would in fact bounce back. Some analysts even saw the coin retesting $4, although it had fallen below $3. 

But there was one caveat in all this. The bullish thesis would only hold if MANA was able to keep the price action above the crucial support zone of $2.7. This did not happen. At the time of writing this post, MANA was trading at around $2.66. 

So, what happens next? Well, it is important to note that the coin has not slid far away from $2.7 and could still bounce back. The key will be to watch the week’s close. If it doesn’t pull up, then we may see the coin retreat towards its next support level of $2.5.

Why could Decentraland (MANA) be a good asset now?

With all the talk about the metaverse, we haven’t really seen a lot of huge projects come out in recent months. There are of course many upcoming metaverse projects. 

But even with that, the fact still remains that Decentraland (MANA) is by far one of the largest coins in this category right now. There is real potential for significant future growth in the near and long term.

The post Decentraland (MANA) bears push price action below crucial support appeared first on Coin Journal.

Gala Games (GALA) just a few weeks ago was surging to unimaginable rates. At one point, the blockchain gaming token reported gains of 60% in seven days. But much of that momentum has gone, and we expect some bearish price movements in the coming days. Here are some highlights:

• Gala Games (GALA) could fall to $0.2 if we are going to see some bullish reversal.

• The token is currently trading at around $0.25, literally unchanged in the last 24 hours.

• Upside potential remains minimal at best, and GALA could struggle to hit $0.4.

Data Source: Tradingview 

Gala Games (GALA)

The metaverse and blockchain gaming craze that we saw last year was quite instrumental in the growth of GALA. In fact, the coin managed to surge towards all-time highs in November last year, hitting a price of around $0.84. 

But this bullish momentum hasn’t been replicated in fact, GALA is now trading 82% lower from those highs a few months ago. Despite this, we did see some bullish breakout at the start of February. In fact, at one point GALA reported 60% growth in less than a week. That bullish breakout has now slowed, and it seems the gaming token is sliding. 

We expect it to flatten at the $0.2-mark before bulls try to find any demand. Also, based on the charts and the recent price action, it seems any bullish uptrend for GALA is capped at $0.4.

Is Gala Games (GALA) a good buy?

Well, metaverse and blockchain gaming tokens are expected to remain some of the most in-demand assets in the market. While it is likely that we will see other stronger, more powerful metaverse projects in the future, there is no question that Gala Games is a big pioneer. For investors who want some exposure to this new virtual world, then it should be a decent option to buy.

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