Kategorie: Crypto Analysis

The crypto market in general is coming out of a period of consolidation over the last few weeks. Coins are surging, and Holo Chain (HOT) is one of them. In fact, HOT has been one of the top performers of the last week. Here is what you need to know:

• The coin had surged by close to 10% over the last 24 hours

• HOT is also up by around 30% over the last 7 days or so.

• This uptrend is likely to maintain in the week ahead.

Data Source” Tradingview 

Why is Holo Chain (HOT) surging?

The main reason why we saw a surge in HOT over the last few days was a new announcement on the ecosystem roadmap that looks to make the project huge. But even with that, HOT had actually shown a lot of bullish signs before. 

For example, it had managed to cross above a crucial overhead resistance zone of $0.004. Also, the coin hit a monthly high at the start of the week. The bullish outlook still remains intact. In fact, we are watching to see if bulls can push the price above $0.006. 

If this happens, we could see decisive gains that could target $0.01 in the near term. This will represent a 50% surge from the current price. But if the price falls below $0.004, then more weakness could ensue.

Should you buy Holo (HOT)?

Holo markets itself as a peer-to-peer chain that hopes to provide a fast and reliable infrastructure for the deployment of decentralised apps. The project is also introducing new tools to help bridge the gap between decentralized systems and centralized ones. 

The fundamentals are indeed quite good, and we have seen a lot of resilience as far as HOT goes. In the longer term, we expect the price outlook to remain positive and upbeat.

The post Holo Chain (HOT) is heating up right now – Here is why you should buy appeared first on Coin Journal.

• QTUM Rallies ahead of Binance Blockchain Week, where it is a premier sponsor. 

• Binance Blockchain Week is a big deal and will draw crypto investors from across the globe. 

• QTUM price action points to more gains in short to medium term.

Qtum QTUM/USD has been one of the top-performing cryptocurrencies over the last 24-hours. In this period, QTUM is up by over 20% and gaining. While this is purely price action at play, there is a good chance that QTUM could sustain the rally over the next couple of days. This has a lot to do with the upcoming Binance Blockchain Week that will take place in Dubai on March 28th.

QTUM will be the event’s premier sponsor, and quite naturally, this means it will attract a lot of attention. Under the current setup where bullish momentum is on the rise across the market, this could trigger a major rally in the price of QTUM into April. 

For context on how big the Binance Blockchain Week deal is, it will have more than 80 influential speakers, over 10 panels and fireside chats, and over 10 keynotes. This means it will likely pay attention across the global crypto community, and even people who may not know how powerful QTUM is will likely be interested in the project. 

However, besides the short-term attention, QTUM has all the hallmarks of a winner, especially now that bullish momentum is rising across the market. QTUM is a blockchain platform built on the Bitcoin UTXO but runs on PoS. This makes it energy efficient while leveraging on the simplicity of the Bitcoin code. The result has been huge adoption for Dapps, which can only grow going forward.

QTUM moving averages point to further gains

Source: TradingView

In the last 24-hours, QTUM buying volumes have shot up. The 50-day and 100-day moving averages are looking up, while the 20-day moving average is outpacing them at an accelerated rate. This indicates that buying volumes are rising fast, and the price could rally even further in the short term.

Summary

QTUM is rallying at the moment and is up by over 20% in under 24-hours. QTUM is likely to get a boost from its sponsorship of the Binance Blockchain Week on March 28th. Long term, QTUM fundamentals are likely to drive its price even higher.

The post Why QTUM could record even more gains going into April appeared first on Coin Journal.

Ethereum Classic (ETC) has been one of the main crypto performers of the last 7 days. Experts argue that much of this surge has been triggered by a hefty migration of Ethereum Proof of Work miners into ETC. Here is what we know:

• Ethereum Classic (ETC) has surged by almost 80% over the last 7 days.

• Ethereum Proof of Stake Miners are shifting to ETC in huge numbers.

• This comes as the Vitalik led chain looks to launch its Proof of Stake Ethereum 2.0.

Data Source: Tradingview 

How will the Ethereum 2.0 shape ETC?

The sudden jump in ETC seen in the last week is expected to continue. In fact, many experts feel that the sooner we get to Ethereum 2.0, the higher ETC will surge. According to current estimates, Ethereum is expected to shift towards a Proof of Stake fully by the end of 2022. This will provide huge opportunities for crypto investors to earn.

“For the industry as a whole, we expect staking to become a big business,” says David Lawant, director of research at Bitwise Asset Management. The Firm has over $1.3 billion in assets, including a portfolio of crypto. There is also talk that tokenomics on Ethereum and other chains will dominate crypto investment.

“Tokenomics will play a huge part of the world’s future commerce with blockchains in the driver’s seat” says Adrian Pollard from HollaEx.

But the shift towards ETC could also put pressure on Ethereum itself. Just recently, ETH managed to steer above $3000 and has stayed there for a few days. The shift towards Ethereum 2.0 is likely to be a bit destabilizing, but eventually, the long-term value of ETH still remains promising.

Is Ethereum Classic (ETC) a good buy?

The shift towards Ethereum 2.0 will be completed this year, so there is still a lot of time before it happens. We expect ETC to continue surging during this period. So, at least in the short term, the coin is indeed worth buying. We could be getting very high gains before the year is out.

The post Ethereum Classic (ETC) jumps 79% as PoW Ethereum miners start to jump ship appeared first on Coin Journal.

A confluence of fundamentals and technical factors driving AXS price.

• Axie Infinity was trading at a key support level when bullish momentum rose in the broader market. 

• Axie Infinity has the benefit of being the largest and most popular play-to-earn gaming platform in the market.

• Axie Infinity moving averages point to more gains in the short term. 

Axie Infinity AXS/USD is one of the top crypto performers. In the past 7-days, Axie Infinity has been up by 32%, with most of the gains being recorded in the last 24-hours. The current pump is a mix of broader market momentum and the fact that Axie Infinity was trading at a key support level of $51.29 on the 100-day MA before the market started pumping. 

That said, Axie Infinity’s core fundamentals are pretty strong, making it attractive to investors, especially now that it is trading at massive lows compared to its price in November 2021. 

For instance, Axie Infinity is now the largest play-to-earn gaming platform in the market. As of February 2021, over two-thirds of NFT gaming transactions came from Axie Infinity. While Play-to-Earn games have slowed down in the past two months, Axie Infinity continues to command a lead in this space.

This is a big deal because now that the markets are turning bullish again, gamers and creators looking to make money off NFT gaming will be drawn more into Axie for its dominance in the gaming market. 

Axie Infinity trading in a bullish channel

Source: TradingView

In the last 24-hours, Axie Infinity has been trending up, and buying volumes have shot up. The momentum that Axie Infinity has at the moment is most evident in the moving averages. The short-term moving averages 20-day and 50-day moving averages are outpacing the 100-day MA with a huge margin. This indicates that AXS’s price is now rising at an accelerated rate compared to its price over a more extended period. 

Summary 

Axie Infinity is in a breakout after bouncing off major support in the past week. Rising bullish momentum across the market coupled with Axie Infinity’s strong fundamentals are adding to the upside momentum.

The post Axie Infinity is rocketing – Here is why appeared first on Coin Journal.

• Polygon is trading in a bullish channel while making higher lows.

• Polygon is driven by a combination of market momentum and internal fundamentals.

• Among the fundamentals driving Polygon is its position as one of the most significant Ethereum scaling solutions. 

Polygon MATIC/USD has been on an uptrend since March 16th. In this period, Polygon has moved from $1.39 to a high of $1.67 today. Polygon continues to gain upside momentum, and with the broader market turning bullish, it could easily break the $2 mark in the short term.

Besides its price being driven by broader market momentum, Polygon is heavily tied to Ethereum, which is a big deal in terms of its long-term growth. Ethereum’s transition to Proof-of-Stake will be complete in the next few months. Test runs are already a success, which means the much-awaited shift to Eth2.0 will be done soon.

The impact is that most Ethereum transactions will move to layer-2 solutions. Polygon happens to be one of the largest and most recognized Ethereum layer-2 solutions in the market. This means demand for Polygon and other layer-2 solutions is about to skyrocket. As this happens, the value of the MATIC token will also rally. 

Polygon is making higher lows in a bullish channel 

Source: TradingView

Since March 23rd, Polygon has been steadily rising while making higher lows. This means the demand is so high that every dip is being eaten up fast. If the current Polygon price action continues, $2 could be attained in the next few weeks. 

Summary 

Polygon is in a bull run at the moment. A combination of overall market momentum and improving fundamentals around the Polygon ecosystem driving its price. Among the fundamentals driving up Polygon includes expectations around Eth2.0. Ethereum will soon be relying heavily on layer-2 solutions to complete transactions. Being one of the largest among them, Polygon is uniquely positioned to gain the most in adoption.

The post Why the $2 MATIC is within reach in the short term appeared first on Coin Journal.