Kategorie: Crypto Analysis

Waves (WAVES) has hit record highs in a recent bullish run that appears to be stronger than ever. The coin has smashed past several key indicators and looks like bulls still have a lot of room to run. So, what should you expect next? More on this to follow but first, here are some notable developments:

• Waves had rallied nearly 50% in 24 hours though it retreated slightly.

• The 24-hour surge is part of a weekly uptrend that we saw last week.

• The coin has now smashed past its all-time highs.

Data Source: Tradingview 

Waves (WAVES) – What comes next?

The rally today came on major news from the platform. Waves will now begin operations in the US and is setting aside a lot of money to bring in developers to the ecosystem. But this is not the only thing. Over the last 2 weeks, the coin has been rising and rising. 

It has gone past several resistance zones and unleashed a bullish momentum that has taken it well above its ATH. Although it is likely Waves will pull back, we do not see this happening in the coming days. 

In fact, waves is likely to test $60 in the days ahead before any sell-off even comes into the picture. The coin has for now paired all losses reported this year and is looking forward to Q2 with a vengeance.

Should you buy Waves (WAVES) now?

There is no doubt WAVES is on the run. Every indicator is bullish right now, so it’s the best time to buy for any short-term trader. Q2 also promises to be a very big period for this token. 

$60 is well in sight in the near term and as such, this gives investors a very good opportunity to make decent returns as they take advantage of this bullish sentiment.

The post Waves (WAVES) hits record high – What do indicators say appeared first on Coin Journal.

Zilliqa (ZIL) has shot up massively in the last few days. The coin gained nearly 100% in one single day, and while most investors were expecting an immediate pullback, bulls just kept the coin going and going. It seems there are no sellers for ZIL, and it is likely this will remain the case for a while. Here are some pointers:

• The recent two-week rally by ZIL has been astonishing, to say the least.

• At one point, the coin was up 225% in just seven days before retreating slightly.

• We do not see any sell-off pressure, and ZIL could add another 100% in the near term.

Data Source: Tradingview 

Zilliqa (ZIL) – Bulls are fully in charge

In most cases, when coins rally to the extent that ZIL has, it’s natural to expect that there will be a pullback. But don’t bet on ZIL to do this in fact, bulls are in full control right now. We expect the gains to extend further to around $0.15 before there is any loss of momentum. 

ZIL is currently trading at around $0.09. Although it has lost about 5% for the last 24 hours as some holders cash in, we expect the bullish momentum to resume. The $0.11 mark will be the most difficult for bulls to break through. 

While we expect the current ZIL momentum to rise above that, if bulls are not able to break the resistance, ZIL will fall. But this will not be a huge pullback. In fact, it will be a modest pullback to $0.08 which will still put ZIL at an all-time high in 2022.

How to play the Zilliqa (ZIL) uptrend

Well, the best play here will be to buy. As for the short-term traders, close when the price hits $0.15. For long-term investors, the risk of a major sell-off after $0.15 will increase. It would be best to see if the coin hits that mark and then track the pullback before you buy.

The post Zilliqa (ZIL) could accelerate gains by nearly 100% before any major sell-off appeared first on Coin Journal.

The Huobi Token (HT) reported modest gains in 24-hour intraday trading on Tuesday. This came despite reports that the exchange was planning to launch a brand-new crypto ETF in Hong Kong. The coin remained largely unchanged for most of the day. Here is what to know:

The new Crypto ETF is expected to track some of the major crypto assets

It will largely target retail investors around the world

Huobi is now seeking approval from Hong Kong authorities to get this done.

Data Source: Tradingview 

Will the new ETF have any effect on Huobi Token (HT)?

Based on how investors have so far reacted to this news, it doesn’t seem like there will be a lot of price action as a result. But this is not a small thing by any means. For so many years, ETFs have provided an easy way for retail investors who have limited knowledge of the market to invest money with minimal risk. 

If something like that can be introduced in crypto, it could bring in more retail accounts to Huobi in the long run. Besides, it will also be a nice way for Huobi to bypass restrictive laws in Hong Kong that only allow crypto assets to be sold to professional investors. The potential of this opening up the huge Chinese market for crypto traders is massive.

Is Huobi (HT) worth it?

Huobi is one of the largest crypto exchanges in Asia. The platform has however had to deal with so many restrictions over there. But we are seeing more creative ways to bypass these laws. 

If indeed the ETF will be approved, it would open up more potential for the exchange. This would then mean more fees and more revenue. Based on these details, Huobi would be a good catch for longer-term value investors.

The post Huobi Token (HT) sees modest gains after it announced plans to launch a new crypto ETF in Hong Kong appeared first on Coin Journal.

After a very bad start to 2022, crypto coins have started to really show some outstanding rallies. In the last week of March, most coins have closed well in the green, and the momentum could go on further. Here is why coins are rallying:

• A period of uncertainty with regards to Fed rate hikes has now gone.

• Many investors who were sizing up the market are starting to come back.

• Institutions are looking at crypto as a diversified asset pool to hedge against equities.

In the midst of this rally, there are some coins that have done way better than we expected. Here are some of them:

Ethereum Classic (ETC)

As the shift from the Ethereum Proof of work model continues to near, we did see some remarkable shift among Ethereum miners towards ETC. In fact, at one point the coin rallied by nearly 70% in a week. 

Data Source: Tradingview 

As of now, ETC appears to have erased the losses made this year and the uptrend is still strong. Although there was always some positive outlook around the coin, many analysts did not expect it to recover as fast as it did. We expect more gains to follow in Q2 this year.

Convex Finance (CVX)

DeFi has always been a huge part of the future growth of crypto. 2021 was the breakthrough year of DeFi, and there was a lot of optimism that we were going to see more and more success in 2022. But DeFi coins failed to impress, and Convex Finance (CVX) saw massive falls from ATHs as a result. But the DeFi space is rebounding, and CVX is up 50% for the week.

Zilliqa (ZIL)

Imagine a 150% surge in less than a week? ZIL appeared to be down and out a few weeks ago, and it was struggling to find any momentum. Although there was some hope it will finally recover, the fact that it has done so in a week or so simply boggles the mind.

The post Tracking the crypto rally: 3 coins that have surprised us appeared first on Coin Journal.

DigiByte (DGB) has surged over the last 24 hours in what appears to be a decisive bullish breakout. The coin has also been rising over the past month and has reclaimed a lot of losses seen this year. But how much momentum does it actually have? More details are below but first, here are some important points:

• DGB is up around 90% over the last 30 days and over 100% in 14 days.

• The coin had managed to post 30% gains in 24-hour intraday trading.

• There however remains a serious risk of a sell-off 

Data Source: Tradingview 

DigiByte (DGB) – Analysis of this uptrend

For the most part of 2022, DigiByte remained largely on a downtrend with a few bursts upwards here and there. But in the last 14 days, it seems the coin has just shot up, gaining nearly 90%. DGD is now testing $0.4. The last time it did this was in June last year.

The $0.4 mark will be a decisive resistance level. We expect investors to start locking in profits at around that price and as such, it is highly unlikely that DGB will cross over. Also, looking at the 3-day chart, the coin is poised for a significant pullback.

While this may not happen in a few days, overall, we expect DGB to be firmly rejected at $0.4 and will firmly fall towards $0.28 in the near term. This will be a downswing of more than 30%. 

Is DigiByte (DGT) worth buying now?

The momentum that DGB has built over the last 14 days is about to slow. The coin is currently at $0.36. We believe the upside based on the chart is capped at $0.4. It wouldn’t, therefore, make any sense to buy now. 

However, please watch the rejection at $0.4. DGB is likely to fall back by at least 30% to around $0.28. This would be the best price to enter once more.

The post DigiByte (DGB) swings 30% up in 24 hours in an extraordinary bullish breakout over the last 14 days appeared first on Coin Journal.