Kategorie: Altcoin News

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.

2022 has started on the right foot for Internet Computer (ICP). Although sentiment in broader crypto is still sluggish, ICP has been surging. The coin has in fact outperformed all crypto assets in the last 7 days, gaining nearly 50% in value. But where will this uptrend take it? Analysis to follow below but first, check out the highlights:

• The 7-day surge has seen Internet Computer (ICP) rally 70% above its lowest price seen in December 2021.

• At the time of writing, the coin was selling for $36.12, up 5% in intraday trading and with a market cap of $6.7 billion.

• Internet Computer (ICP) is one of the newer blockchain projects launched in May 2021.

Data Source: Tradingview.com

Internet Computer (ICP) – Price action and analysis

The past 7 days have been bullish in every way for ICP. Every technical indicator is positive right now too. For starters, the coin has surged well beyond its 25- and 50-day moving averages. 

ICP has also smashed past its $30 resistance, and current momentum will easily take it above $40 in the days ahead. 

The Relative Strength Index (RSI) also shows a very positive reading. We do not see a lot of headwinds right now. Besides, as sentiment in the broader market improves, ICP is likely to also see more gains.

Why you should buy Internet Computer (ICP)

Since launching in May 2021, Internet Computer (ICP) has gone on to become one of the most valuable crypto projects in the world. The blockchain is also starting to build up its ecosystem with several high-profile DApps. 

It has always been a good long-term bet, especially for the type of investor keen on alternatives to traditional blockchains. The recent 50% 7-day uptrend is the clearest indication that ICP is headed for superb returns in 2022 and beyond.

The post Internet Computer (ICP) has outperformed all crypto assets in the last 7 days – Where will the uptrend go next? appeared first on Coin Journal.

Despite facing severe downside pressure in recent weeks, Axie Infinity (AXS) is rallying with the bullish continuation expected to hold. There are some estimates that suggest AXS will head towards $170 in the near term. Although this is a tad too optimistic, the indicators appear to back this outlook. Here are some notable highlights first:

• Axie Infinity (AXS) is consolidating between $90 and $100. At the time of writing, the token was trading at $94.46.

• This price consolidation could trigger a bullish rally that will see AXS surge $170, gaining nearly 40% in the process.

• Despite this, there are still several downside risks that investors should factor into the $170 price calculus.

Data Source: Tradingview.com 

Axie Infinity (AXS) – Price action and prediction

AXS has been one of the hottest blockchain gaming tokens in the past few months. It has had its wild ride, too as far as price action is concerned. After hitting yearly highs of $160 in 2021, we have seen an ensuing correction phase. 

However, even with this significant bear pressure, AXS has still traded between $90 and $100 over the past weeks. There is price consolidation, something that could suggest that a bullish breakout is not far away.

In fact, if the coin can surge past the overhead resistance of $105, then we could be seeing a prolonged uptrend that will easily smash past $170.

Why you should buy Axie Infinity (AXS)

Overall, Axie Infinity (AXS) is one of the most promising coins in blockchain gaming. This sub-sector is heating up and is expected to drive a lot of growth and innovations in blockchain tech. 

Based on these fundamentals alone, AXS is a good buy. But one key risk to note is that increased competition from other blockchain games could see daily active users on the platform decline. This is likely to put significant pressure on the price.

The post Axie Infinity (AXS) and the road to $170 – Price analysis and predictions in 2022 appeared first on Coin Journal.

Harmony (ONE) is hands down the best performing token in the early stages of 2022. After breaking its December downtrend on the last day of 2021, the token has established some outstanding bullish momentum, gaining nearly 32% over the last 7 days. So, where will the token go next? First, some highlights.

• After a tough December correction, Harmony (ONE) is now on an uptrend that could see it gain up to 50% in January.

• At the time of writing, the token was trading at $0.3175, roughly 8% from its 2021 yearly highs.

• The platform has also invested heavily in developing an NFT ecosystem that could help boost investor sentiment.

Data Source: Tradingview.com 

Harmony (ONE) – Price action and prediction

It was largely expected that the crypto market would rebound in 2022 after a severe correction at the tail end of 2021. But while most coins have traded sideways at best, Harmony (ONE) is setting the pace for growth.

The token is up 32% in a week, and we were closely watching to see if it breaks past the $0.3 resistance. At the time of writing, ONE was already at $0.3175 and is consolidating around that price. RSI readings also remain moderate, suggesting that more bullish activity is yet to come.

We expect this uptrend to continue in January and push Harmony (ONE) towards its 2021 yearly highs. As of now, the next upside resistance is around $0.32. It’s likely that ONE could break past that this week.

Why you should buy Harmony (ONE)

Investors have in recent weeks been looking at alternative altcoins as the main cryptos slump. Harmony (ONE) is one of the most promising altcoins today. 

The platform is also doing some good work around NFT ecosystems, something that should help maintain positive investor sentiment. With a market cap of around $3.1 billion, there is still a lot of potential for ONE.

The post Harmony (ONE) is surging in 2022 – Where will it go next? appeared first on Coin Journal.