Kategorie: Altcoin News

For the past few days, Ankr (ANKR) has been rebounding in spectacular fashion. The token is buoyed by improving sentiment in the crypto market and increased network news that has got investors buzzing. But can this bullish momentum actually hold for long? Here are some highlights:

• At the time of writing, Ankr (ANKR) was trading at around $0.07585, up nearly 16% in 24-hour intraday trading.

• ANKR is also up 20% from the lowest levels recorded during the January crypto crash.

• The ANKR network processes over 1 billion transactions per month, making it one of the most notable blockchain projects today.

Data Source: Tradingview.com 

Ankr (ANKR) – Can bullish momentum hold?

The recent bounce in price came as a big surprise. Although most cryptos are rebounding after falling sharply for most of 2022, surging by nearly 15% in a day is a big deal for ANKR. Besides, looking at the technical indicators, it seems like ANKR is also starting to break out. 

The price is right now hovering between the 25- and 50-day EMAs. We expect it to surge past this threshold in a bullish run that could send the token way up. Also, the Relative Strength Index or RSI offers an oversold reading. 

This simply suggests that even if there was some selling pressure on ANKR, it will not be as big as we have seen in 2022. We are also seeing general sentiment in the market improve even further. All these factors suggest that we may see more gains in the near term.

Should you buy Ankr (ANKR)

Yes, this is a good buy and for several reasons. First, the Ankr network is by far one of the most promising blockchain projects in the world. It has managed to hit 1 billion transactions every month, with more expected in the near term. Based on that growth potential, it is a token you should have in your portfolio.

The post Ankr (ANKR) continues bullish surge – Will this spectacular recovery last? appeared first on Coin Journal.

There were some hopes that Gala (GALA) had started to show signs of recovery. However, this seems like it was more of a false start. At the moment, Gala (GALA) has stagnated and is starting to decline even as sentiment in the broader crypto market improves. More weakness is also expected for the token. Here are some highlights.

• Gala (GALA), just like most metaverse tokens, has fallen sharply, losing nearly 30% in value in the last one week alone.

• There was a slight bullish run after the FOMC meeting yesterday but those gains have quickly reversed.

• At the time of writing, Gala (GALA) was trading at $0.2072, down nearly 5% in 24-hour intraday trading.

Data Source: Tradingview.com 

Gala (GALA) – Price prediction

When GALA started to surge yesterday, most analysts were looking to see if the coin will rise above its overhead resistance of $0.22. But it was a firm rejection. Even though GALA did manage to test the threshold a few times, it has since fallen. 

The pullback suggests that there is more weakness on the metaverse token and a further decline is possible. With January lows of around $0.1, it won’t be a surprise if the coin drops even further. In fact, most analysts see the $0.1 mark as the next probable support level should there be a serious sell-off in the coming days.

Should you buy Gala (GALA)

Metaverse tokens have become quite bearish in the last few weeks. We are seeing sharp declines even though most of these tokens were showing a lot of promise last year. 

At the moment, we believe that the price pressure is more of a correction that will last a few weeks. I would wait if I were you for more pullbacks before getting into GALA. At least that way, you get to buy on the cheap.

The post More weakness awaits Gala (GALA) as price pressure on metaverse and blockchain gaming tokens holds appeared first on Coin Journal.

The crypto market has simply crashed in January. Most coins are trading in the red and it doesn’t seem like there is enough demand for a rally in the near term. So, this gives bargain hunters the perfect chance to buy heavily discounted coins. Here is why this makes sense:

• A pullback like this is not new to crypto, in fact, it has happened before and the prices have rebounded sharply.

• Crypto has seen the rise of many innovative projects, especially in the altcoin space.

• We will see major rallies in the market no doubt, and those who get in now can make big returns.

Well, the following is your ultimate altcoin shopping list, indicating three of the best tokens to buy right now?

Polygon (MATIC)

Polygon (MATIC) bills itself as an Ethereum scaling solution designed to deliver faster speeds and lower fees. It has actually been making major moves in the last few months, acquiring a series of new projects as well. 

Data source: Tradingview

Polygon and its native token MATIC have also seen immense growth in 2021 and we expect this to continue in the future.  At press time, MATIC was selling for $1.65.

Avalanche (AVAX)

Avalanche (AVAX) is a smart contract platform that also strives to offer better speeds and lower fees. It is also seen as a direct competitor to Ethereum and has been one the fastest-growing tokens in the last 12 months. Right now, AVAX, its native token, is trading at $67.16.

Yearn Finance (YFI)

In case you are thinking of investing money into a DeFi project with a lot of upside potential, then you will enjoy Yearn Finance (YFI). The token has been getting a lot of new features and more investment as well. At the time of writing, it was selling for $24,699.57 with a market cap of around $900 million.

The post Altcoin Shopping list: 3 tokens to buy during this January slump appeared first on Coin Journal.

ICP volumes even as the broader market turns bullish

Key points:

•  ICP rebounds but volumes are lower than most major cryptos

•  ICP needs to break 38.2% Fib resistance at $23.15 for trend confirmation.

•  Broader market momentum is still a major factor.

Internet Computer (ICP/USD) has been on an uptrend for the last 48-hours. This is pretty much in line with the broader market, which has been in the green since Bitcoin bounced off lows of $32,800.

However, unlike most major cryptocurrencies, ICP’s rebound has not been strong. For most of the last 48-hours, ICP has been range-bound below the 23.6% Fibonacci resistance at $21.18.

Internet Computer yet to gain traction

With the Internet Computer, blockchain finally becomes what it was always meant to be – an open and distributed medium for applications. The revolutionary design unlocking smart contracts‘ full potential proves that this technology has so much more in store than just financial transactions or storing data securely. Internet Computer aims to create entire decentralised economies.

While it has a powerful value proposition, Internet Computer has not had the best of runs since it launched. Issues touching on its decentralisation came up a few months after it launched. What followed was a value collapse from over $400 to under $30.

Internet Computer is currently trading at $21.64 and has been gaining for the past 48-hours. This is in-line with the price action in the broader cryptocurrency market.

ICP price prediction

Source: TradingView

On the 1-hour chart, ICP has been gaining momentum for the last 48-hours. However, for most of that time, volumes have been low, and ICP has been consolidating below the 23.6% Fibonacci resistance at $21.18.

It is only in the last 6-hours that it has managed to push through the 23.6% Fibonacci resistance, but volumes are low. If volumes remain low, there is a risk that ICP could fall back below the $21.18 price level. In such a case, ICP could easily dip below $20.

However, if the broader market remains strongly bullish, ICP could not only hold above $21.18, but also possibly break the 38.2% Fibonacci resistance at $23.15. In such a case, ICP could easily trade above $25 in the course of the week.

The post Internet Computer price prediction: Is ICP stalling at key resistance? appeared first on Coin Journal.

With raving news around the NFT marketplace and the metaverse, it seems this evolution of the crypto world will leave a mark on most other digital currencies. And making Shiba Inu an exceptional identity of the metaverse world, which would impose a great focus on its asset value.

Following a tweet from the Shiba Inu Twitter page on January 24th, 2022. The Shiba Inu network announced their recent plan for joining the metaverse with a giant epithet that replaced the suffix „A“ alphabet with a new term that represents the actual metaverse description known as „verse“. Shibaverse has been coined from the commonly known original Shiba Inu token popularly recognised name.

While there might be joy coming through the end of the news. However, the Shibaverse autonomy does not purely associate with the original Shiba Inu blockchain. Instead, both Shibaverse and Shiba Inu tokens are not under similar developers. Though the effect of the announcement can spark buying interest in the native Shiba Inu Trading ecosystem. Thereby, causing its value to gain positive attraction upon the arrival into the metaverse.

Technical levels to watch before buying Shiba Inu

And with the recent sell-off the cryptocurrency market had undergone in the past few days, this should at least ring a buying signal in the ears of the market players.

Final thoughts

To prevent the price from retesting the $0.00001972 horizontal support. A decent approach to the market will be to go long and create an exit point along with the $0.00002598 resistance.

The post Should you buy Shiba Inu as the token awaits the metaverse call appeared first on Coin Journal.