Kategorie: Crypto Analysis

Aave (AAVE) has largely traded sideways over the last month without any significant breakouts. But it did manage to oscillate between $250 and $270. For most analysts, as long as the price remained above $250, then it was just a matter of time before Aave (AAVE) surged above $300. But a pull-back has seen the coin tank below $250. Should you still buy Aave (AAVE)? Well, here are some facts:

• The recent pullback has largely been pushed by risk-off sentiment in the crypto market over the last 24 hours.

• At the time of writing, Aave (AAVE) was trading at $221, down 13% in 24-hour intraday trading.

• We expect sentiment in crypto to ease in the coming days, with Aave (AAVE) rebounding back to $250.

Data Source: Tradingview.com

Aave (AAVE) – Price analysis and prediction

Most New Year predictions were looking at Aave (AAVE) heading above $300 in the near term. There were of course some downside risks due to sluggish sentiment in broader crypto. 

Despite bouncing between $250 and $270 the past few weeks, Aave (AAVE) tanked below $250 in a 13% 24-hour pull back. However, we expect the price to quickly rebound back to $250, especially with improving sentiment in the market. 

After that, Aave (AAVE) will likely reclaim the $270 price and surge beyond $300 as earlier expected. But we are watching sentiment very closely to see how it plays out in the coming days.

Should you buy Aave (AAVE)?

Aave (AAVE) is one of the most promising DeFi projects. The protocol allows people to borrow and lend crypto assets through a decentralised ecosystem. Although this area is seeing a lot of competition, we expect Aave (AAVE) to be a major player in the long run. So, if you are looking for decent DeFi tokens to buy, this could be a good bet for any investor. 

The post Here is why you should buy Aave (AAVE) despite pullback below $250 appeared first on Coin Journal.

After some positive price action during the first days of 2022, Loopring (LRC) is tumbling fast. The coin has seen a massive sell-off in 24-hour intraday trading today, losing nearly 18% in value. These losses have wiped out the bullish uptrend we say last week, bringing total losses over 7 days to around 16%. But is Loopring (LRC) still viable for investors today? Well, here are some highlights first:

• Loopring (LRC) saw positive bullish momentum a few weeks ago after emerging as one of the early adopters of ZK-roll ups.

• Hawkish fed policy from FOMC minutes released yesterday appears to have put extra downside pressure on LCR.

• The correction we have seen today is likely to continue as all indicators point towards a bearish outlook in the near term.

Data Source: Tradingview.com 

Loopring (LRC) – price action and prediction

The crypto market started the day largely in the red in response to FOMC minutes that point towards hawkish monetary policy by the Fed. Although the LRC wipe out had something to do with broader sentiment in crypto, right now other indicators suggest that the coin is headed for more downside. 

At the time of writing, LRC was trading at around $1.68, down nearly 18% for the day. The $1.6 mark is the current support, and if LRC cannot sustain gains above that, we could see it tank back to $1 in a few days. Based on current trends, it is likely that a sustained downside trend towards $1 will be the outcome.

Should you buy Loopring (LRC)

Despite this correction, Loopring (LRC) still remains a decent investment. In fact, the fact that the platform was an early adopter of ZK-Rollups to help enhance transaction speeds on the network is a sign that the future is bright. But wait for the current downtrend to take this token to $1. That would be the perfect dip to buy for the long run.

The post Loopring (LRC) sees a massive sell-off – Should you still buy it today? appeared first on Coin Journal.

After an impressive 2021, Solana (SOL) has lost a bit of momentum especially after the broader crypto correction we saw at the tail end of the year. The coin still managed to return 8600% in value, and as the ecosystem continues to bring in more blockchain projects, the future is looking bright. But can Solana (SOL) rebound and surge past $200 in the near term? We will analyse this below but first, some highlights:

• Solana (SOL) is trading around its $167 support and has been for a while. This could suggest it’s consolidating for an upward breakout.

• Overhead resistance is around $180, and we expect SOL to test it in the coming days as part of a broader rally towards $200.

• However, the coin is still well below its 50-, 100-, and 200-day simple moving averages, suggesting bear pressure is still high.

Data Source: Tradingview.com 

Solana (SOL) – Price analysis and prediction

After losing some of the gains it had made in 2021, Solana (SOL) appears to have found sufficient support around the $167 price. In fact, for most parts in December and January 2022, the coin has traded around that threshold. 

If a rally comes, it will start from $167 moving upward. But an upswing can only happen when SOL surges above its 50-day moving average of $174 and starts to retest the overhead resistance of $180.

Once it tests the $180 mark and consolidates around it, we could see an uptrend surging above $200. This move will represent gains of nearly 20% from its current $167 price.

Why you should buy Solana (SOL)

Solana (SOL) is often seen as the Ethereum alternative, and for a good reason. It offers better speeds and scalability. So far, the platform has seen increased developer activity, and its long-term fundamentals are incredible. Solana (SOL) is projected to hit $1000 by 2030, so it’s a very decent buy.

The post Solana (SOL) looks poised to break above $200 – Analysis and price prediction below appeared first on Coin Journal.

Binance Coin (BNB) has been on a downtrend for the best part of a month now. The coin is down about 5% the last 7 days and was largely on the red for the whole of December. But the long-term outlook is still positive, with some analysts seeing BNB surging past $1000 by the end of 2022. Nonetheless, some indicators right now appear to show a surge towards $650. Here are some highlights first:

• At press time, Binance Coin (BNB) was trading at $514 with a market cap of around $85 billion.

• The nearest support based on the chart is at $503, and it is likely BNB will fall towards that price before rallying.

• The key for BNB will be to surge above the overhead resistance of $532, something that could trigger a rally towards $650

Data Source: Tradingview.com 

Binance Coin (BNB) – Price action and analysis

Many analysts agree that BNB has been in a correctional phase. This started in Mid-November and has continued well into the New Year. In fact, the moment BNB fell below $600, and it was clear that the downside trend will hold for a bit longer.

But there is some upside to this. We have seen a lot of consolidation slightly above the $500 mark. This could suggest that the bearish pressure occasioned by the BNB correction over the last two months could start to abate. We see this downtrend reversing and BNB testing the overhead resistance of $532 in the near term.

Why you should buy Binance Coin (BNB)

Binance Coin (BNB) is one of the largest cryptos with nearly $85 billion in market cap. Although the coin is seeing some headwinds right now, it’s still a decent long-term asset to have in your portfolio. However, if you want to ride the uptrend in the coming weeks, get in now.

The post Can Binance Coin (BNB) hit $650? Here is some analysis and price prediction appeared first on Coin Journal.

The price action for IOTA (MIOTA) over the last week has been on a seesaw of sorts. After surging over the past few days, the coin has tumbled 20% from weekly highs as downside pressure mounts on the alternative blockchain. MIOTA is also down nearly 13% from its price 7 days ago. But how is the overall long-term outlook? We will break it down but first, some highlights:

• At the time of reporting, IOTA (MIOTA) was trading at $1.29, down nearly 5% in 24-hour intraday trading.

• Despite the price decline, the token has also reported massive daily trade volume, seeing a surge of 78%.

• MIOTA is still above its 20- and 50-day moving averages, suggesting an uptrend is feasible in the near term.

Data source: Tradingview.com 

IOTA (MIOTA) – Price action and analysis

2021 was a huge year for IOTA (MIOTA). The token saw incredible growth, and there are reasons to suggest that 2022 won’t be any different. The price action however over the past few weeks suggests that we may start to see some short-term volatility. 

In fact, after tumbling 20% from this week’s highs, MIOTA has largely traded sideways. It has, however, managed to break past the $1.129 resistance. We are now watching to see if it can test the overhead resistance of $1.6. But if bear pressure continues, we could see the token retracing its support towards $0.95.

Why you should buy IOTA (MIOTA)

IOTA (MIOTA) has been making some decent moves recently. The platform, which acts as an alternative to traditional blockchains, introduced smart contract capabilities that will allow developers to create DApps using the IOTA ecosystem. 

This is huge, but we are checking to see just how developers will react to the news. If there is more developer adoption (which is likely), then IOTA is going to grow and as such, it is a great buy.

The post IOTA (MIOTA) tumbles 20% from weekly highs – How is the overall outlook? appeared first on Coin Journal.