Kategorie: Crypto Analysis

Polygon (MATIC) had been trending upwards for the best part of the week. The coin is, in fact, in the green over the last 7 days, and there were some analysts looking at a possible breakout. But MATIC was rejected at a crucial zone and this could spell doom for bulls. Here are the facts.

• After surging for the week, MATIC was rejected at $1.75.

• The coin has since fallen to $1.59 ever since.,

• It is likely MATIC will retest that zone again this week.

Data Source: Tradingview 

Polygon (MATIC) – Understanding the uptrend

The recent uptrend in MATIC has been quite impressive. The entire market also seems to be on the up, with Ethereum and Bitcoin also seeing major gains. But it is clear that the momentum for MATIC has slowed. For most analysts, the goal for the coin was to surge past $1.75.

This would have signaled a strong bull run that could be sustained for longer. But MATIC was decisively rejected at $1.75 and has since retreated significantly to hit $1.56. The $1.75 is actually the 200-day EMA, while the $1.56 is slightly lower than the 50-day EMA. 

It is conceivable that MATIC will bounce off between these two zones. We expect the coin to test $1.75 again this week. Whether this time round it will be successful remains to be seen. But a push above the 200 EMA will be the signal that bulls have taken over.

Is Polygon (MATIC) the future?

Polygon (MATIC) came out as an Ethereum scaling solution. It has since tried to fully diversify from its core business and is now creating new verticals in GameFI and NFTs. 

It is not the biggest crypto asset of course. But it will remain among the top ten for a long time to come. This makes it a very decent investment for the longer term.

The post Polygon (MATIC) rejected at crucial overhead resistance – Is the uptrend losing momentum? appeared first on Coin Journal.

Stellar (XLM) has been pushing more into DeFi in recent weeks, and this could have a positive impact on its price outlook. The coin has also been surging in recent weeks. How will the focus on DeFi affect XLM? More to follow below, but here are some facts for you:

• XLM has been up to over 15% over the last 7 days.

• The chain has been making major moves into DeFi in recent times.

• The 7-day rally will continue as sentiment in the market improves.

Data Source: Tradingview 

Stellar (XLM) – The long-term outlook?

DeFi has been one of the key drivers of growth in crypto for the best part of a year now. DeFi projects are expected to continue to explode. Stellar has been trying to bring in more DeFi to its ecosystem. In fact, the project just announced recently that it will be launching a new product that will aggregate DeFi protocols and connect them to investors. 

That news alone saw XLM surge by over 15%. As the push towards DeFi continues, we are likely to see gains in this token in the medium and longer term. Besides, we have also seen some steady improvement in investor sentiment over the last few weeks.

It is safe to say that the torrid start to 2022 that we saw is now starting to ease. As such, it is likely that we will see more growth for XLM and other coins.

Why is Stellar (XLM) a good project?

Even before its recent push to DeFi, Stellar still remained one of the most promising projects in crypto. This is a blockchain project that aims to spur the growth of innovative decentralized apps. 

Stellar has been working on improving cross-chain interoperability and is always finding new ways to add more value to its ecosystem. For an investor looking for a legitimate opportunity, XLM is up there with the best.

The post Stellar (XLM) pushes more into DeFi – Should you buy? appeared first on Coin Journal.

In case you have been thinking of adding Algorand (ALGO) into your portfolio, then the coming days could present some decent buying opportunities. This applies to both short-term and long-term plays as well. Before we get to the analysis, here are the main facts:

• Algorand has surged by nearly 20% over the last 5 days or so.

• The bullish run is going to continue, and investors can buy-in.

• There are several buying zones you can consider to earn decent returns.

Data Source: Tradingview

Algorand (ALGO) – Buying zones to watch

After surging over the last few days, Algorand has faced massive resistance at $0.9. In fact, it seems the price has stagnated here, but the coin is continually testing this zone in a huge way. We expect there will be some bullish momentum to take the price action above $0.9. 

When that happens, it would be a good time to buy. But in case you don’t want to face the risk of a trend reversal, you can watch $1.1. After $0.9, the $1.1 mark will be ALGO’s next big test. If indeed the coin is able to rise above that, then it is likely going to surge past $1.4 in the near term. 

However, this bullish thesis will become null and void if ALGO falls below $0.8. We however don’t see this happening in the days ahead unless something major happens in the broader crypto market.

Why you Should buy Algorand (ALGO)

Algorand (ALGO) has had a very volatile time since it debuted in the market in 2019. The coin has fallen massively below its ICO price which was at $2.4. But there is still a lot of value that Algorand can offer. 

It is likely that the coin will regain some of this upward momentum and reclaim the $2.4 price before the end of the year. That will be over 100% in gains from the current price.

The post Algorand (ALGO) analysis – Crucial buying opportunities to watch in the coming days appeared first on Coin Journal.

It seems like the crypto market is starting to find its legs again. After ups and downs over the last three months, we have seen sustained periods of consolidation. Positive investor sentiment is starting to come back. So, here is what to expect:

• A lot of coins are likely to go on decent bull runs

• Pullbacks will come of course, but the general trend will be up.

• Risks however still remain, including high inflation and conflict in Europe.

For investors looking for bullish cryptos, there are a lot to choose from. But we decided to pick out three of the best.

Ripple (XRP)

Ripple (XRP) has had its issues this year. The coin was in the middle of a big lawsuit with the Securities and Exchange Commission or SEC. Because of this uncertainty, a lot of investors were staying away from XRP. 

Data Source: Tradingview 

The coin has therefore remained highly undervalued but in the last few weeks, it seems like the SEC case is now starting to go away. XRP has therefore remained bullish and could surge very strongly in the near and medium-term. In fact, we are likely to see the unlocked potential of XRP come to the fold.

ThorChain (RUNE)

A lot of positive ecosystem news has been coming out of Thorchain (RUNE) over the last week or so. The coin has also managed to snap out of the February downtrend and is gaining quite a lot. In fact, RUNE is up 20% in the last 7 days. The trend will continue in the near and long term.

Convex Finance (CVX)

Convex Finance (CVX) is one of the most promising DeFi projects in the market. The project is actually up by around 30% for the week. As the DeFi revolution continues to expand, coins like CVX are likely to get more demand. This will eventually push the price action higher and higher.

The post The best bullish coins that you can consider buying right now appeared first on Coin Journal.

Access to finance and capital is one of the most important things for personal economic growth. But the centralized financial system has made it harder for people to achieve this independence. This is why DeFi is stepping in to offer lending services. Here is why this idea is heating up:

• DeFi is fully decentralized, so people can access it anywhere in the world.

• DeFi also allows for peer-to-peer lending services.

• There are new tools that allow lenders to manage risks effectively.

Well, if you are convinced that lending is the future of DeFi, then there are three incredible projects that you should look at. Here they are:

GoldFinch (GFI)

GoldFinch (GFI) is trying to revolutionize the way crypto-backed loans are offered through DeFi protocols. The project is basically wavering collateral requirements. This is designed to remove the barriers that have, for so long, making it harder for the average person to get crypto loans.

Data Source: Tradingview

GoldFinch is backed by major venture capital firms and has grown massively. In just under a year, active loans given moved from $250k to nearly $36 million. Over 200,000 people in 18 different countries are already benefiting from this.

Celsius (CEL)

Celsius (CEL) is an all-inclusive blockchain with several DeFi features. While the platform was specially designed to allow for the creation and deployment of DAPPs, it has been able to attract lending protocols as well. Users can get collateralized loans with interest rates of as low as 1%. This aspect of the Celsius ecosystem has expanded quite a lot.

Maker DAO (DAO)

Maker DAO (DAO) is also an inclusive project that has incorporated a unique DeFi protocol as well. There are several lending options there but the versatility of Maker DAO makes it a very good project for anyone looking for a safe long-term bet.

The post Top 3 DeFi Protocols that are growing really fast right now appeared first on Coin Journal.