Kategorie: Crypto Analysis

Bitcoin (BTC) has had a very eventful two weeks. At the tail end of March, the coin surged only to fall short of its 200-day SMA of around $48,000. It has fallen sharply ever since, but there could be some upside to grow further in the week ahead. Here are some important developments:

• BTC has consolidated above two important support zones of $42,000 and $40,000.

• The price action has achieved a bullish crossover between the 50- and 100-day SMA.

• These technical indicators suggest that the coin is about to surge with minimal downside risk.

Data Source: Tradingview 

Bitcoin (BTC) – The road towards $52,000

Bitcoin showed a bit of weakness at the start of April. After it tested its 200-day SMA of around $48,000, the coin failed to cross and as such, it fell sharply after. In fact, BTC dropped over the last 3 days in a row.

But despite this, there is still a lot of hope for optimism. First, BTC remains above two strong support zones of $42,000 and $40,000. This means that downside risk remains very small. Also, BTC has managed to achieve a cross-over between its 50- and 100-day SMA. This suggests a bullish alignment, and BTC could break out in the days ahead.

The breakout will eventually push the price action towards a crucial demand zone above $46,000. When this happens, it will likely trigger massive buying that ultimately smashes the 200-day SMA, pushing BTC towards $52,000.

Is it time to buy Bitcoin (BTC)?

Yes, this is the time to buy. BTC is sitting above very strong support, so it’s hard to see it dropping any further. 

When you consider that the potential upside is quite high, it makes sense to accumulate BTC. We are expecting gains of at least 25% in the near term. Besides, the long-term outlook also looks very positive.

The post Bitcoin in the week ahead: How $52,000 could actually happen appeared first on Coin Journal.

Finding the right investment in crypto is not always easy. With so much hyperbole, scams, and projects that are nothing more than PR, getting that real asset that will grow your money can take a lot of time. But it doesn’t have to be this way. There are some incredibly undervalued altcoins that can actually grow your money fast. Here is why:

• Most of these undervalued altcoins haven’t received a lot of media focus

• The coins represent projects trying to solve a real issue in crypto

• They are all backed by star studded teams and investment backers.

Without further ado, the following are the three undervalued altcoins that could be worth fortunes in the future.

GoldFinch (GFI)

GoldFinch (GFI) is a lending protocol that allows users to access crypto backed loans without collateral. It is one of the few DeFi lending protocols that allow for uncollateralized loans. 

Data source: Tradingview

The project also links credit underwriters in emerging markets with capital providers to create a truly decentralised way of providing financial services. The unique nature of this project makes it a huge catch and should be worth your interest as an investor.

IOTA (MIOTA)

IOTA (MIOTA) is an interesting blockchain project that does not use proof of work or proof of stake. Instead, it uses a proprietary tangle technology that is way cheaper and energy efficient than proof of work and proof of stake. As demand for low cost chains continues to grow in the future, projects like IOTA are likely to see major gains in the end.

Oasis Network (ROSE)

The Oasis Network (ROSE) is hoping to bring a collection of DeFi tools into one single ecosystem. It is seen as the ultimate project for future DeFi. While other similar chains are trying to provide some competition, so far Oasis leads the way in several unique ways.

The post Crypto gems: These 3 undervalued altcoins could be worth a fortune in the future appeared first on Coin Journal.

Solana has often been described as the ‘Ethereum killer’. The project is looking to address some of the key challenges associated with Ethereum and appears to be doing a very good job of this. Here is why Solana has often been touted as the next big thing:

• The project offers incredible on chain transaction speeds better than many projects

• Solana is backed by the top brass of the crypto investment community

• It also offers low fees, scalability, and a lot of developer incentives.

But Solana is not the only Ethereum killer, in fact the three projects below could be much better and more valuable:

Cosmos (ATOM)

Cosmos (ATOM) has often been referred to as the mother of all blockchains. The aim is to create a powerful ecosystem of interconnected blockchains. Cosmos wants to create a connected system of decentralised chains as it ushers in a new age of the internet. 

Data Source: Tradingview 

Interestingly, the project is hoping to do this while keeping speeds high, costs low, and scalability incredibly good as well. This makes Cosmos one of the most promising Solana and even Ethereum alternatives out there.

ThunderCore (TT)

ThunderCore (TT) is a relatively unknown and new project that is modelled behind the Solana concept. The aim of ThunderCore is to offer greater speeds and scalability while keeping the transaction fees low.

In fact, ThunderCore is faster and more secure than Solana and other similar projects. When you consider that it has a market cap of less than $100 million, it should be a very interesting project to check out in the future.

NEM (XEM)

NEM (XEM) is a bit older than Solana, but it shares similar attributes. XEM offers top of the line security, and better speeds. And the good thing is that it’s already proven in the market. This is a project that has been here for several years.

The post Looking for the best Solana alternatives: Top 3 coins to consider right now appeared first on Coin Journal.

The crypto market has pulled back after the end of March rally. Tron (TRX) has been hit hard, and it seems like the coin is starting to get bearish barely days after posting one of the best uptrends this year. The coin could plummet even further before consolidation. Here are some of the key facts:

• The 3-day chart since Monday shows TRX has formed a large bearish trend

• Momentum indicators like RSI also show that the coin is bearish.

• Tron will likely drop to $0.5 before it finds its bearings again.

Data Source: Tradingview 

Tron (TRX) – The bearish short-term trend

There were a lot of positive outlooks on Tron last month. The coin had managed to post a 30% counter-trend rally which would later give way to a sustained bull run that saw TRX hit 2022 highs. 

Based on this, it was expected that overall, the coin would continue to post gains and even test $ 0.2 in the near term. But the bullish trend appears to have sharply reversed. TRX has lost a lot of value this week, and its 3-day candle now points to a bearish outlook.

TRX also remains very far away from the next overhead resistance. This suggests that bears are now in control and will look to take the price to $0.05 before any other bull run. This will represent sustained losses over the last week of nearly 30%. However, a close above $0.82 will invalidate this prediction.

Should you stay away from Tron?

For now, TRX remains highly risky so it may be best to stay away for a while. Since the coin is already on a downtrend, buyers can wait to see how soon it will bottom at $0.05. 

Once it hits this price, it is likely that TRON will consolidate. This will be the perfect time to buy, provided overall conditions in the market are positive.

The post Tron (TRX) continues to plummet and could bottom at $0.05 in the days ahead appeared first on Coin Journal.

After reporting a sharp fall over the last three days, it seems like Loopring (LRC) has started to consolidate. The coin could find enough demand for another rally in the coming days. But how fast will this happen? More analysis to follow but here are the latest developments:

• Despite the recent fall, LRC is still within an important upward trend line

• The coin also shows a bullish signal on the Relative Strength Index (RSI)

• LRC could surge towards $1.2 before it tries to consolidate once again.

Data Source: Tradingview 

Loopring (LRC) – Analysis and price prediction

The last 3 days have proved quite difficult for LRC holders. The coin has seen a major drop and was in fact down by around 7% in the last 24 hours. But this doesn’t mean the token is in a bear market. 

We are in fact seeing a period of price consolidation within a very important upper trend line. As such, we expect LRC to report more gains in the days ahead. Conservative estimates show that the coin could hit $1.2 before it finds further momentum. This will still represent a gain of around 20% from the current price.

Also, the RSI reading shows LRC is now in oversold territory. This could suggest that any risk of another major sell-off is highly unlikely. This analysis will however be null and void if LRC falls below $0.735.

Why should you buy LRC now?

Loopring is a scaling solution for Ethereum that has a lot of star-studded investors. It’s a project that has great long-term value. There is also an opportunity to make a return on a short-term trade.

Since the coin is roughly trading at around $1 right now, there is a likely 20% upswing in the days ahead if the surge towards $1.2 happens. The perfect entry zone for this short-term play will be between $0.74 and $1.

The post Loopring (LRC) could rally to $1.2 in the near term – Here is the setup appeared first on Coin Journal.