Kategorie: Altcoin News

• Fantom token holds above $0.288 breakout support

• The cryptocurrency is strong but is stalling as most tokens endure market corrections.

• Investors should wait to buy FTM after a retracement, potentially towards $0.288

Fantom FTM/USD is one of the cryptocurrencies that has staged recoveries recently. The cryptocurrency breached key resistance at $0.288 following strong gains. The breakout opened a potential for lasting recoveries, which remains intact.

Don’t get it wrong; FTM is not yet a buy as most cryptocurrencies start corrections. Fantom token has held to the robust gains, with up to a 5% surge as of the time of writing. We still believe FTM will correct it, and buyers should be looking for another bullish ride. The key question now is; when?

Fantom token hits a resistance pointing to a potential correction

Source – TradingView

On a lower time frame, FTM has hit resistance at $0.34. The cryptocurrency is holding onto the resistance, but the bullish strength remains weak. The shorter-term 14-day and 21-day moving averages continue to support the price. We believe short-term investors should be defensive at the current level as FTM remains vulnerable.

 The correction could see the price crash back below the moving averages. The token could find support at $0.31 or $0.30, although the established level is at $0.288. If FTM regains strength, the price could reverse at the intersection with the moving averages. The token has already been making higher highs and higher lows. As a result, we can’t rule out a potential break past $0.34. What we insist on now is that FTM keeps the $0.288 intact, which is the reference bottom price.

Concluding thoughts

Although a correction is imminent on the Fantom token, it is still a hold. However, new buyers should consider buying lower. The potential levels to watch are $0.31, $0.30, and $0.288.

The post When to buy Fantom token as price stays clear of the breakout zone appeared first on CoinJournal.

• PancakeSwap token has gained 21% in a week

• The platform is a decentralized exchange on BNB Chain 

• CAKE, the native token, is claiming higher levels, and investors should take positions

PancakeSwap CAKE/USD may not rank among the top cryptocurrencies. However, it makes the right headlines, good enough to be noticed by crypto enthusiasts. The cryptocurrency’s surge of 21% in a week makes it worthy of attention.

Ranked 78th by market cap, PancakeSwap may be an underdog in the DeFi sector. However, it is backed by the world’s leading exchange Binance. PancakeSwap is itself a decentralized exchange to the BNB Chain. It allows users to swap coins without intermediaries.

In early June, Binance Labs announced it had invested in PancakeSwap. That boosted the price of the native token CAKE. However, the price turned lower again on the back of a strong bear sentiment in crypto. With its smart contract functionality and Binance connection, PancakeSwap remains a viable protocol. Investors should develop an interest in CAKE as the price shows bullish signs.

CAKE trades slightly above a key resistance

Source – TradingView

On the daily chart, CAKE trades slightly above a resistance zone at $3.5. The breakout is underway, and investors should watch for price action. The MACD indicators are already in the bull territory. If the cryptocurrency successfully clears $3.5, CAKE will have another litmus test at $4.0.

Our verdict is that CAKE is developing a bullish momentum. It is just a matter of when the token will clear the resistance at $3.5 and $4.0. Investors can buy now to lock value and hold in the long-term. 

Summary

PancakeSwap is gaining and looks likely to break past $3.5. After that, the next resistance is at $4.0. The cryptocurrency is good for buying and holding in the long term.

The post PancakeSwap is making slow but sure gains, and you won’t want to miss appeared first on CoinJournal.

• Near Protocol token has added 32% in a week

• The cryptocurrency is yet to break out from a resistance zone

• Wait to but on a breakout, although a retracement is possible

Near protocol token NEAR/USD is attracting suitors. The token has added a cool 32% in a week, adding enthusiasm for the smart contract protocol. NEAR could blast to higher levels if it successfully manages to clear key levels.

Near Protocol claims to eliminate some of the barriers that limit Web3 adoption. The smart contract platform boosts low fees and high speeds. Owing to the smart contract functionality, Near Protocol offers a great alternative to Ethereum. It allows communication and asset exchange between Ethereum and other protocols such as Polkadot. NEAR could be getting boosts from the surge in Ethereum price. 

Despite the strong gains recently, NEAR remains near a bottom price of $3.1. The cryptocurrency now trades at $4.3. That should tell you that NEAR remains well supported by the bottom price. However, investors looking to add NEAR should be mindful of immediate resistance.

NEAR faces resistance at $4.3 amid a bullish push

Source – TradingView

The recovery case for NEAR is not in doubt owing to the recent gains. The MACD indicator has also moved to positive territory, owing to the bullish momentum. However, NEAR faces resistance at $4.3. The price has already hit the resistance and is showing some slight retracement. If NEAR retraces, the bottom price of $3.1 would be of interest. That, of course, depends on the prevailing crypto sentiment.

Price could as well turn bullish at the resistance, resulting in a breakout. That would set $6 the next level in sight and could add bulls to ride to higher prices. For now, we watch price action at $4.3.

Summary

NEAR token is bullish but has met resistance at $4.3. Investors should watch how price action unfolds at the resistance. Buy on a breakout.

The post Near Protocol price prediction as price booms 32% in a week appeared first on CoinJournal.

• Fantom token FTM pushes above resistance

• The blockchain could be borrowing gains from leader Ethereum

• FTM is a buy at the low prices as the price turns bullish

There is no better time to invest in Fantom FTM/USD tokens than now. That emanates from the fact that FTM has left a trail of $0.28, which is its bottom price. Of course, there is a long way to go as FTM trades a shell of itself from its all-time high.

Fundamentally, Fantom is benefiting from the boosts in the crypto sector. Owing to its depressed prices, investors could be taking advantage. The cryptocurrency trades at a low of only $0.33. That is significantly below the all-time high of above $3.5 last year. Investors could be scooping the dip for a chance to ride higher.

Besides, Fantom investors see opportunities in layer-1 protocols for smart contracts. History has shown that whenever the price of ETH rises, alternative layers such as Fantom gain. Investors view the alternative layer-1 protocols as the best Ethereum alternatives. They offer faster speeds and carry lower transaction costs. Thus, the gains in Ethereum could be spilling over to protocols such as Fantom.

FTM blasts past a resistance level to establish a new support

Source – TradingView

Technically, FTM is very bullish after overcoming the $0.28 resistance. MACD indicators are bullish too. The cryptocurrency now trades at $0.33. The price is yet to reach another major resistance which is at $0.43.

Investors can buy at the current price level or take advantage of a minor retracement. However, we believe FTM is attractively priced, and investors can scoop the token now.

Summary

Investors’ attention is turning to FTM due to its smart contract functionality. The cryptocurrency is attractively priced and is a buy after a key breakout.

The post Fantom aims for $0.43 as the price suddenly turns bullish at a key level appeared first on CoinJournal.

• Apecoin’s APE has gained 18% in a day as cryptos turn up

• Apecoin token rose to almost $28 in April after token airdrop

• Key breakout positions APE to further gains

Apecoin APE/USD debuted with a lot of hype in March this year. Despite the rest of the market subdued, APE rose strongly to test a high of almost $28. The gains happened as investors rushed to secure windfall gains. Apecoin now remains in the trenches as token trades at single digit prices. This thesis finds APE a strong cryptocurrency as bullish indicators emerge.

APE rose by 18% in 24 hours at press time, with gains in the week now at 25%. The gains happen across the sector, but very few coins have staged strong gains as APE. We believe APE’s bullish momentum is starting out after key breakouts happen.

Apecoin blasts past a key resistance as the price turns bullish

Source – TradingView

Technically, APE is bullish. The cryptocurrency blasted a key resistance of $5.1 on Monday, which previously held it back. The MACD indicators also support a bullish view. With the breakout, it confirms a potential lasting bullish momentum. But here are the two potential buy zones.

The first buy zone is the $5.1 resistance-turned-support. As APE surged, it met another resistance at $6.0. That makes the token susceptible to another drop. If that happens, APE will retreat back to $5.1, which is now our reference support. The second buy zone is $6.0. The buy entry will become active if APE manages another breakout. We need to watch the price action for a potential entry. The next resistance levels for APE are $7.2 and $9.0.

Summary

APE coin has breached a key resistance at $5.1. It has hit another resistance at $6.0. Investors should buy on a retracement to $5.1 or another breakout past $6.0.

The post Apecoin returns 18% in a day – How lasting can the gains be? appeared first on CoinJournal.