Kategorie: Crypto Analysis

There has been a lot of talk about the coming web 3 revolution. It is seen as the next age of the decentralized internet and a lot of tech companies are trying to own the future. So, what do we know so far about the web 3 revolution? Here are some notable developments:

• Big tech firms like Twitter and others are pushing the Web 3 idea

• Blockchain projects to support Web 3 are already in place right now.

• In 2022, investments in web 3 are heating up to new levels.

But what are some of the key blockchain projects right now that have the potential of triggering the Web 3 revolution? Here is our top 3 list.

Ankr (ANKR)

Ankr (ANKR) is a leading decentralized cloud computing service that has for years now been trying to rival centralized cloud providers like AWS, Microsoft, and Alphabet. Ankr basically allows people to share their unused computer resources and earn a return in the process. 

Data Source: Tradingview 

It is one of the key projects that could provide the basis of the computer power needed to power a fully decentralized internet. Also, Ankr has been adding several interoperability features and is already compatible with over 40 chains.

Avalanche (AVAX)

The key to Avalanche (AVAX) as a huge driver of the web 3 movement is its sub-chains. Avalanche basically allows developers to create small sub-chains within its main network to specifically power their DAPPs. Think of it as the windows or android for blockchains. This is likely to unleash massive innovation.

Golem (GLM)

Golem (GLM) works in the same way as Ankr. It is designed to help crowdsource computer resources and deploy them wherever they are needed. As noted above, decentralized computing power will be the driver of Web 3, and projects like Golem will make that happen in a big way.

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For a very long time now, $15 has been a crucial phycological mark for Chainlink (LINK). The coin has tried to maintain gains above that several times this year but has fallen again as volatility in the market continues to hit. So, what will happen this time? Here are some pointers:

• It’s the first time LINK has gone above $15 in several weeks.

• $15 had also proved to be a huge overhead resistance level for LINK’s upswings.

• Bullish momentum is looking likely but could slow down eventually.

Data Source: Tradingview 

Chainlink (LINK) – Price analysis and prediction

Converting $15 from overhead resistance to support is a big move for LINK bulls. The coin has surged past this level for the first time in a while, and based on the price action so far; it seems like it’s actually trying to consolidate here. The big question now is how long LINK can keep the price action above $15. 

If indeed bulls pull it off, then it is likely that the coin will move on to test the next overhead resistance zone of $18. Based on the current bullish momentum, we expect LINK to surge to around $19.5 before it tries to find more demand. 

However, with many short-term traders likely to lock in profit at that zone, we expect a slight pullback once LINK rides above $19.5 in the near term. Besides, The RSI right now has moved to neutral, which suggests any bull run will slow eventually in a few days.

Is it time to buy Chainlink (LINK)?

Founded in 2017, Chainlink (LINK) has grown to become one of the main blockchain projects in the world. It is quite low from its ATHs, but this also means that it is a very good option to buy at the moment. With LINK’s long-term potential, any investors worth his or her salt should have it.

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When SushiSwap (SUSHI) first came out, it was seen as one of the best ever projects in DeFi. Investor interest was instant and as such, the coin surged, hitting an all-time high of around $23.3 in March last year. But ever since, it’s been a challenging period for SUSHI. Can it really recover? Here is what you need to know:

• From an ATH of $23.3, SUSHI is now trading at around $3.56.

• SushiSwap is facing increasing competition in the DeFi space, especially DEXs.

• It is highly unlikely the coin will ever regain the ATH anytime soon.

Data Source: Tradingview 

SushiSwap (SUSHI) -The bleak picture ahead

If there is anyone out there biting their fingers waiting for SUSHI to ever return to $23.3, they may have to wait for quite some time. You see, unlike many coins that have fallen due to broader market headwinds as opposed to changes in underlying fundamentals, SUSHI has suffered from both. 

First, the project behind SUSHI is having to deal with increasing competition from better, more efficient market entrants that are sucking quite a lot of users and TVL. SushiSwap has also had to deal with the congestion and high gas fees of Ethereum, which has limited scalability. 

As for the short-term price outlook, we saw the coin fall below the crucial $4.2 support. We expect SUSHI to bottom at $2.8 before it has any significant rally.

Is SushiSwap (SUSHI) worth the risk?

Well, it will depend on your expectations. Although the coin has fallen from ATHs and is never getting back there soon, there is still a little upside. At the current price of $3.5, SUSHI is heavily discounted. 

If sentiment improves in the market, we are likely to see a surge towards $7 by the end of the year. That would still be a 50% jump. Besides, the move to Ethereum 2.0 could help jump-start the project in the future.

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Filecoin (FIL) has often been touted as one of the most promising projects in a web 3 revolution that many experts feel is around the corner. But the coin has really struggled this year. However, after a period of consolidation, a bullish breakout may be imminent. Here are some factors to note:

• Filecoin could conceivably grow 4X by the end of 2022 or even higher.

• The underlying value of the coin remains highly underrated.

• The push towards web 3 this year will drive much of FIL’s upward surge.

Data Source: Tradingview

Filecoin (FIL) – How soon can it hit 4x?

After a shaky start to the year, it reached a point where there were fears we may see a prolonged crypto winter. Filecoin (FIL), just like many altcoins, was really hit hard, and it bottomed to a new 2022 low of $16.5 about a few weeks ago. But then the momentum reversed, and we saw some decent rise and a period of consolidation. 

There is a lot of improvement in sentiment, and this can only be a good thing for FIL. We are watching to see if the coin can flip $21 from an overhead resistance zone to a support zone in the short term. 

This could trigger a bull run that sends FIL up by at least 30%. From a longer-term point of view, analysts are looking at $80 easily. Remember FIL was trading at $120 in September last year. There is therefore precedent for rapid gains and losses.

Should you get Filecoin (FIL)

Filecoin remains a crucial cog in the data storage business. It is designed to become a decentralized data solution, and with the coming age of decentralized internet, this type of service will be invaluable. 

FIL is not alone in this of course. There are some competitors. But so far, the project has really done very well. It’s worth looking at.

The post Filecoin (FIL) price analysis: Can FIL actually grow 4X in 2022? appeared first on Coin Journal.

The crypto market, in general, has steadied after a very volatile period during the start of 2022. Analysts are now focusing on long-term outlooks, and one coin that has grabbed the attention of everyone is Kava (KAVA). Could it actually hit $40 by year-end? Here is what you need to know:

• Short term volatility has put a lot of pressure on KAVA

• Hitting $40 will mean that the coin needs to grow 10X from its current price

• While this looks farfetched, it is not entirely impossible

Data Source: Tradingview 

Kava (KAVA) – The road to $40?

At the moment, KAVA is trading at around $3.89. Based on the performance of the crypto market over the last three months, it’s hard to imagine that KAVA could grow 10x before the year is out. But it’s actually not that hard to imagine. 

There are several reasons for this. First, Kava is adding EVM support. The move will make it interoperable with ERC 20 tokens. This is likely going to push more DeFi projects into the network. Also, EVM support means that apps already built for Ethereum can be deployed on Kava. 

In addition to this, it seems like the sentiment in the market is actually looking better than it did three months ago. Investors have started to price in the economic and geopolitical factors at play. As the broader market surges, KAVA could still follow. Despite this, we still think there are so many downside risks that will make the $40 dream very hard to achieve.

Is Kava (KAVA) worth the risk?

Kava is a great project and has been for the last few months. It has simply suffered from the general trend in the market. But its long-term value still remains very high. The fact that it’s adding more interoperability into its system is a big deal. Even if it doesn’t hit $40, it could still offer 3x or 4x growth.

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