Kategorie: Crypto Analysis

After surging to new highs in November last year, VVS Finance (VVS) has tanked. The DeFi coin is firmly in the bear market and the volatility in the broader market has only made things worse. But will things start to turn around soon? Probably not but here are some facts to know:

• VVS has fallen 85% from its November highs.

• The coin was trading at $0.00002232, up by around 2% for the day.

• The downtrend will not reverse in the near term unless sentiment in crypto shifts drastically.

Data Source: Tradingview 

VVS Finance (VVS) – what’s next for the coin?

The drop in price for VVS has come fast and sharply. It seems like a long time ago when the token hit all-time highs in November last year. 

Things have really been difficult for VVS investors. In fact, the coin is down nearly 50% since the start of February. Momentum indicators are all pointing downwards. For instance, VVS remains lower than several crucial SMAs and the RSI also suggests a risk of a sell-off. 

There will of course be days where there will be rallies. But in the medium term, we don’t expect a big change in the price. The best thing right now for investors would be to wait until we start seeing some signs of price consolidation. This may trigger a bullish run that could push VVS above important indicators.

Should you buy VVS Finance (VVS)?

VVS actually stands for Very Very Simple finance. The project is simply trying to make blockchain and crypto mainstream. It hopes to offer users a more simplified DeFi protocol where anyone can use crypto.

This is a noble gesture and it could deliver great results. The fact that VVS is at around $230 million in the market cap means that we could yet see more gains in the future.

The post VVS Finance (VVS) remains in a bear market – Can the DeFi token turn around? appeared first on Coin Journal.

• Thorchain is up by over 90% in a month after introducing synthetic assets trading.

• Lending and borrowing are coming soon, further adding fuel to the rally.

• Thorchain rally is also supported by growing bullish momentum in the broader market.

Thorchain (RUNE) is up by 92% this month, and it is not showing signs of slowing down. In the last 24-hours alone, Thorchain is up by over 18%, and the momentum is rising. The rally has been triggered by a series of network upgrades that could trigger even more adoption going into the future.

The latest news regards the launch of synthetic assets trading on RUNE protocol. Rune has the edge over other protocols offering the same services because it is fast and allows traders to swap assets at a pretty low cost.

Thorchain also has ThorFi coming up soon. This is an equally big deal as it will allow traders to buy and lend on Thorchain. This is pretty much in line with the direction that the DeFi is moving, and that’s cross-chain decentralized exchanges that make atomic swaps obsolete. Such a tech breakthrough puts Thorchain in a unique space for growth as DeFi continues to disrupt finance and banking at an accelerated rate.

What next for Thorchain?

Source: TradingView

Since January 2022, Thorchain has been consolidating between $5.11 and $3.51. However, on March 9th, it broke out of this range and with high volumes. Since then, it has been trending up and is currently close to testing $10. If the current trend continues, Thorchain could easily retest its all-time highs of $21 in the short term.

Thorchain’s odds of retesting its all-time highs are enhanced by the fact that the broader market is currently gaining upside momentum. This means cryptos already showing signs of an upside could draw in more investors and rally more than the rest of the market.

Summary

Thorchain (RUNE) is currently in an uptrend, and in just one month, the coin is up by over 90%. Thorchain’s rally is driven by several key upgrades, including introducing synthetic tokens trading. With ThorFi coming up, the odds are that it could rally even further.

The post Why Thorchain could retest all-time highs sooner than most cryptos appeared first on Coin Journal.

Uniswap (UNI) has reported gains over the last three days in a row. This decent momentum has coincided with improved performance in the general market. It seems though like UNI still has enough momentum to go in the coming days. Here is what you need to know:

• At press time, UNI was trading at $8.77, up around 5% in the last 24 hours.

• The coin is expected to regain its crucial $9.4 support zone in the days ahead.

• If this happens, UNI could go on a decent bull run with gains of at least 30%.

Data Source: Tradingview 

Uniswap (UNI) – Where the price could go

Over the last week, UNI has been trading between a very important range. While the coin has managed to stay above the $8.13 support, it has failed to overcome $9.4. In fact, UNI has been rejected at $9.4 several times. 

But the recent momentum could provide the much-needed run that finally converts $9.4 from resistance to support. After all, the coin has had three days of continuous gains. At press time, it was already up 5% for the last 24 hours. 

If bulls can regain the $9.4 resistance and manage to consolidate there by the end of the week, then UNI could trigger a bullish run that delivers at least 30% in gains. But if the coin falls below the current resistance of $8.13, this prediction will be voided.

Why buy Uniswap (UNI) today

Uniswap (UNI) is the main decentralized exchange of the Ethereum network. It is one of the biggest projects also in the DEX space with a market cap of nearly $6 billion. 

But more could still come from UNI. In fact, it was just the other day the coin was testing $20. It’s possible that it could return to those lofty heights in the medium term.

The post Uniswap (UNI) shows strength in recent days – Here is why it could regain crucial support appeared first on Coin Journal.

Alchemy Pay (ACH) appears to have entered an important consolidation phase. The coin has moved largely sideways after coming under pressure in the past two weeks. But despite this, ACH still remains in a bearish trend, and it will take something special to break this. Here are some facts:

• ACH has been bouncing off a very wide range, indicating wild volatility.

• The coin is over 77% lower than its 2021 all-time highs

• It remains below the crucial 25-day SMA, suggesting more weakness.

Data Source: Tradingview 

Alchemy Pay (ACH) – when will the downtrend break?

It’s very hard to say right now when or how ACH will break this downtrend. After all, there are just too many risk factors. The threat of inflation, global economic fallout due to rising energy prices, and the war in Europe are some of the factors weighing down sentiment. 

We expect the coin to continue dropping before it bottoms at its $0.032 support. After that, bulls can try to find any demand. At the time of writing, ACH was selling at $0.039. There is therefore still a long way to go before we reach the bottom. 

We do not expect ACH to reclaim its all-time highs anytime soon as well. The coin will still remain volatile and could be perfect for short-term plays. As of now, ACH has a market cap of around $160 million and trade volume remains very low.

Is Alchemy Pay (ACH) sustainable?

Crypto-based payments are going to become huge in the near future. There are a ton of companies out there that are investing heavily in these projects and as such, Alchemy Pay (ACH) will get a lot of competition. 

But this should not worry any investor. ACH has already established itself within both the centralised and decentralised payment ecosystem. It surely has so much potential for the future.

The post Alchemy Pay (ACH) remains in a bearish trend despite recent consolidation appeared first on Coin Journal.

Besides bullish momentum in the broader market, BAT fundamentals are strong.

• Basic Attention Token is in a breakout, and buying Volumes are rising.

• BAT is one of the fundamentally strongest cryptocurrencies in the market, a factor that favors its odds of sustaining the current rally.

• BAT powers the brave browser, and with privacy taking center stage on the internet, Brave Browser adoption is growing.

Basic Attention Token (BAT) is one of the cryptos with an actual use case. It is among the few that even a layman can understand what it means and how it works by a quick glance at it. This is a big deal because it means that with crypto adoption on a growth trajectory, such cryptos stand to draw in the most volumes once the markets turn bullish again.

The Basic Attention Token is the token that runs the Brave Browser ecosystem. Brave is a privacy-focused browser that uses its high search speeds as a selling point. Unlike other browsers that make money by selling user data, advertisers pay users for their attention when using Brave. Anyone who takes time to view adverts on the Brave Browser gets paid in BAT tokens. 

Essentially, the more people use Brave, the more BAT tokens are used, which is a plus in demand and long-term value growth. The best part is that Brave Browser adoption is on a growth trajectory. So far, more than 4 million people use Brave, and the numbers are growing. This has a lot to do with its privacy features. Privacy is increasingly becoming a big deal to many people, meaning BAT has a lot of room for growth, especially if the markets turn bullish again.

Basic Attention Token breaks out after weeks of consolidation.

Source: TradingView

For the last couple of weeks, BAT has consolidated between $0.635 and $0.755. However, in the past 24-hours, BAT has broken out of this range and with high volumes. If the market sustains the current upside momentum, BAT could easily break the $1 mark in the short term.

Summary 

BAT is in a breakout, a move that was triggered a bullish breakout in the broader market. However, while the current price move is mainly speculative, BAT has the fundamentals to sustain a rally and make new highs in the long run.

The post Basic Attention Token could test $1 in the short term appeared first on Coin Journal.