Kategorie: Crypto Analysis

The last 7 days or so have been quite brilliant for Filecoin (FIL) investors. The coin has surged but in the last few days, it looks like it has slowed. In the last 24 hours, the coin was largely trading sideways. But there are a lot of upsides. Here are some facts:

• A bull flag has appeared on the daily chart that suggests a strong uptrend

• FIL could surge past $32 or even higher in the near term.

• Filecoin has also crossed a major resistance zone over the last 24 hours.

Data Source: Tradingview 

Filecoin (FIL) – Is $32 likely?

The stagnation we saw in Filecoin’s price action appears to be nothing more than consolidation. In fact, during this period, the token managed to cross above $26. This means that the price is now above the crucial resistance zone of $25.9. It will be interesting to see if bulls can sustain this in the days ahead.

However, if we close today’s trading above $26, then FIL is headed for a major upswing. Besides, the bull flag that has appeared on the chart also suggests a strong uptrend. The coin could surge towards $32 before it encounters major resistance. 

If indeed bulls are able to push further above the $32 mark, it is likely that more gains will follow, with FIL hitting $40 in the long run. This will represent gains of nearly 60% from the current price.

Is it time to buy Filecoin (FIL)?

The simple answer is yes. However, it would be best to wait until the end of trading today to see if bulls can keep the $25.9 support. Right now, the price is slightly above that, but it’s consolidating.

If indeed we start tomorrow’s trading above $26, then FIL will be a great buy. You can expect it to hit at least $32 in a worst-case scenario or $40 in the best-case scenario.

The post Filecoin (FIL) could target $32 despite the recent fallback as bulls search for momentum appeared first on Coin Journal.

Zilliqa (ZIL) is hands down the crypto of the year so far. The coin has recently surged to unimaginable heights. Despite analysts predicting pullbacks, ZIL has continued to show incredible upward resilience. There seems to be more upside for growth too. Here is what you need to know:

• ZIL has gained over 200% in the last 7 days alone.

• The coin has however slowed with a 10% pullback in the last 24 hours.

• It is likely that the uptrend will continue despite slowing in recent days.

Data Source: Tradingview 

Zilliqa (ZIL) – Is $0.5 eve possible?

Surging towards $0.5 will be massive for ZIL. This would mean the coin will have to add another 100% or thereabout from its price today. While it may seem unlikely, for a coin that has surged by 200% in seven days, everything is indeed possible with ZIL. 

Besides, chart indicators show a bullish trend. The fact that ZIL has defied all bearish predictions in recent days makes it a bullish asset. In essence, even people who are not upbeat about it may be forced to buy to ensure they don’t miss out on these gains. 

Because of this, it is likely that more gains will come. The challenge though for bulls right now is the possibility of a majority of folks starting to lock in profit. If this happens, we may see slowed upward momentum followed by a decisive pullback of at least 35%.

How to play the Zilliqa (ZIL) setup?

There are two ways to play out the current ZIL setup. First, it makes sense to buy in and ride a possible surge towards $0.5. But this will depend on how the coin performs in the day ahead. 

In the last 24 hours, ZIL has lost 10%. If such double-digit losses are posted in two consecutive days, then the trade becomes very risky. Secondly, you could wait for the pullback to come and buy then.

The post Zilliqa’s (ZIL) recent bull run is far from over – Is $0.5 coming next? appeared first on Coin Journal.

Another country has entered the cryptocurrency party, and it’s a big one. The United Kingdom’s Economic and Finance Ministry announced this afternoon that the country will be amending its regulatory framework to allow the introduction of stablecoins as a means of payment.

Sure, it’s not like Boris Johnson has gone full-El Salvador and introduced Bitcoin as legal tender, but it’s still an important step and one that may cause a domino effect, especially given it is coming from Britain.

The most criticised aspect of El Salvador’s Bitcoin initiative, of course, is the notorious volatility that Bitcoin suffers from. With stablecoins, that is not an issue, with their value pegged to fiat counterparts.

This is part of the reason that this announcement is such notable news – this is very much a targeted initiative looking at introducing crypto specifically as a means of payment, rather than simply loosening the overall regulation on the industry.

Her Majesty’s Treasury (otherwise referred to as the Exchequer – I’m still learning my British acronyms as I intend to move to London later this year), were quite bullish in their assessment of stablecoins in their statement Monday: “The rationale for doing this is that certain stablecoins have the capacity to potentially become a widespread means of payment including by retail customers, driving consumer choice and efficiencies”.

The statement continued that the amendment of regulation to facilitate these stablecoins was just one aspect of a “package of measures” aimed at incorporating blockchain technology into the UK and creating a “global hub” – so while payment is the first item on the list, as we just mentioned, the UK are also signalling their intent to eventually go beyond this niche and embrace the wider crypto industry, too.

With the volatility of “normal” cryptocurrencies rendering them impractical right now for commerce, stablecoins are primed to take the step up…if regulators get on board. This move by the UK, therefore, is a massive signal of intent – because it is so achievable. “If crypto technologies are going to be a big part of the future, then we – the UK – want to be in, and in on the ground floor” the Economic Secretary, John Glen, said at the Innovate Finance Global Summit. “In fact, if we commit now…if we act now…we can lead the way”, he continued.

We got thoughts from Katie Evans, DeFi Expert at Swarm Markets, on what this may mean, as an insider in the industry. „London is a massive global financial hub, and it has to keep up with the constantly-changing face of financial technology“, she said. „The UK Government does seem to be paying attention to the fact that the race is on to build the crypto centres of the next 50 years, and this is in essence its way of setting out its stall“. Evans was also enthused that stablecoins in particular were a point of focus, pointing out that they serve as „a useful on-ramp for potential crypto asset users“ and are „one of the simplest to assess and approve in crypto terms, bringing them in line with existing financial markets regulation“. 

Another interesting tidbit? The non-appearance of Central Bank Digital Currencies (CBDCs) in the announcement. This is very much looking at stablecoins such as Tether, Circle etc to be used as a medium of exchange, when many would have anticipated a CBDC announcement as more likely. 

It’s a big marker to lay down, as the UK are now set to become one of the first countries to provide clear guidance to the crypto industry as to how stablecoins can be implemented. This story will grow and is far from over, but today is an important first step. 

The post UK embraces crypto, looks to regulate stablecoins appeared first on Coin Journal.

Altcoins had a strong performance in March as the overall cryptocurrency industry recovered. This performance happened even as the crisis in Ukraine escalated and the Fed started its hiking policy for the first time since 2018. Here are some of the best coins to invest in April.

1. Ethereum (ETH)

Ethereum performed well in March as the network’s merge happened in the Kiln network. This is an important step as the network moves from to a proof-of-stake platform. It also did great as activity in its network rose as evidenced by the rising total value locked (TVL) in DeFi and NFT industry. 

Therefore, there is a likelihood that Ethereum price will keep doing well in April as investors continue focusing on the merge process. Some analysts expect that it will leave the kiln testnet in April while others see it taking some time.

On the 4H chart, it appears like ETH formed a top at around $3,488 in March. This signals that it will likely drop to the support at $3,046 and then resume rising.

2. Terra (LUNA)

LUNA had a strong month in March as its price jumped to an all-time high. Analysts cited the strong performance of the Terra USD coin and its top DeFi platforms like Anchor Protocol and Lido as the reason for this performance. 

Terra is a good cryptocurrency to invest in April after the developers raised billions from investors and as more developers embrace the network. They also announced that they will spend $10 billion buy Bitcoin. At the same time, the daily chart shows that it managed to cross the key resistance at $106 in March. This was its previous all-time high. Therefore, a retest of its all-time high will lead to more gains.

Buy {LUNA} here! >

3. Cardano (ADA)

Cardano has been in a strong bearish trend in the past few months. At its lowest level this year, its long-term investors had lost over $65 billion from its all-time high. It managed to stage a strong recovery in March as the total value locked (TVL) of its network rose sharply to over $300 million. The resurgence was mostly because of MinSwap. The coin also rose as investors went bargain hunting.

Ada price found a strong support at $0.7320 in March. It has also moved above the 50-day moving average, signaling that the coin will likely keep rising in April. The key reference level to watch will be at $1.50.

4. Dogecoin (DOGE)

Dogecoin has been a forgotten cryptocurrency in the past few months. It crashed to a low of $0.1084, which was about 81% below the highest point in 2021 and 61% lower than the highest level in October. It has fallen because of the overall lack of a bullish catalyst.

While technicals seem bearish, there is a possibility that the coin will rebound in April as investors go bargain hunting. Also, recently, most meme stocks have gone parabolic, meaning that meme coins could also rise. Most importantly, it has formed a strong support at $0.8400.

5. Waves (WAVES)

Waves is a blockchain project that aims to become a better platform than Ethereum. It has been used to build some of the most popular platforms like Neutrino and Waves Exchange. Waves price went parabolic in March and soared from less than $15 to over $60. 

This performance happened as more developers moved to the network and its total value locked rose to an all-time high of over $4.6 billion. The main drivers were Neutrino, Vires Finance, and Waves Exchange soared. 

Waves will likely have a pullback in April as it moves to a distribution phase. While this decline will happen, the bullish trend will likely continue later during the month.

6. Hedera Hashgraph (HBAR)

Hedera Hashgraph is a smart contract platform that is at least 10 times faster than alternatives. It is also widely used to build decentralized applications by companies like Avery Dennison and ServiceNow. 

HBAR’s price has been in a strong bearish trend in the past few months. It moved from a high of $0.58 to a low of $0.188. It found a strong support at $0.188 in March and then managed to move above the 50-day moving average while the Relative Strength Index (RSI) has pointed upwards. 

HBAR has lagged its peer coins like Near Protocol and Algorand and there is a likelihood that it will keep rising as investors continue bargain hunting.

7. Chiliz (CHZ)

Chiliz is another cryptocurrency to invest in April. It is a leading blockchain project that focuses on the relatively new industry known as fan token offerings (FTO). In the past few months, it has signed some of the biggest teams like Manchester City and Manchester United. 

Like all other cryptocurrencies, its price declined in the past few months as the value of fan tokens plummeted. But there are signs that the sector is gaining traction as its market cap soared to over $3 billion. Chiliz also announced a new partnership with Lionel Messi. 

CHZ found a strong support at $0.1584 in March and has moved above the 25-day MA. It will likely keep rising in April.

8. STEPN (GMT)

STEPN was one of the breakout stars in March as it went parabolic and moved into top 100 of the biggest cryptocurrencies in the world. It is a platform that seeks to disrupt the fitness industry by paying people to run, walk, and jog. To participate, people need to first purchase an NFT sneaker and install an app with tracking features. They will then receive a GMT token whenever they workout. While GMT price jumped in Match, there is a possibility it will continue rising in April as the fear of missing out sets in.

9. Enjin Coin (ENJ)

Enjin is a blockchain project that has been around for more than a decade. It has created a platform that allows people to create and market their non-fungible tokens (NFT). Enjin found a floor at around $1.27 in March and then started a bullish trend. It moved above the 25-day moving average and rose above the descending trendline. The coin will likely do well as its Efinity network gets more integrated to Enjin.

10. VeChain (VET)

VeChain was once one of the hottest cryptocurrencies. At its peak, it was among the top 15 of the biggest cryptocurrencies in the world. It then made a strong drop and moved to position 45. This changed in March as demand for VeChain started rising. It rose above the 23.6% Fibonacci retracement level and the 50-day moving average. Therefore, there is a possibility that it will continue finding buyers in April.

The post 10 Best Altcoins to Invest in April appeared first on Coin Journal.

One of the best strategies to grow your capital from crypto would be to find low-cap coins that have so much potential. Coins below the $50 million mark in market capitalization are in particular, quite good and here is why:

• Microcap coins tend to have so much room to expand

• Demand for promising microcaps will always be high among investors

• Small-cap projects tend to be new and often under the radar

So, if you are looking for the next big project with a small market cap today, we have listed three coins below that you can consider:

Numbers Protocol (NUM)

It seems like in recent years, everything has been going toward the blockchain. But very few projects have come up to create a decentralized photo network where artist and creators can share their work securely. 

Data Source: Tradingview 

The Numbers Protocol (NUM) is trying to address this problem by providing the infrastructure needed. With the increased popularity of NFTs, NUM could see major gains and its market cap remains at just $38 million.

Gods Unchained (GOD)

GameFi is also one area of the blockchain industry that is worth looking at. There have been many games, some of which have gone on to make huge money. Gods Unchained (GOD) appears to have that kind of potential. It’s a free-to-play card game that allows users to earn crypto rewards in the process. The project has a market cap of $35 million.

Cream Finance (CREAM)

Cream Finance (CREAM) is a lending protocol designed to offer crypto-backed loans to people around the world. There are many lending protocols of course but CREAM is trying to offer users better terms and easy access to collateralized loans. With a market cap of just $14 million, you could unlock a lot of future potential with this coin.

The post Hunting for microcaps? Top 3 coins with less than $50 million in market cap appeared first on Coin Journal.