Kategorie: Crypto Analysis

Filecoin (FIL) has started the week on a high. The coin is strongly trending upwards and is now targeting to hit $35 in the coming days. The momentum is likely to continue as well in the near term. Here are some of the key facts to keep in mind:

• Filecoin (FIL) has surged by nearly 30% in the last 24 hours.

• The coin is poised to hit $35, a gain of nearly 50% from the current price.

• All momentum indicators also remain positive in the short term.

Data Source: Tradingview 

Filecoin (FIL) – The road to $35

The general trend for Filecoin (FIL) for the most part of this year has been down. In fact, the coin struggled a lot over the past few weeks to rise above $16. But the last week has been quite impressive for FIL. 

The coin not only managed to smash through the $16 resistance, but it has also gone past two other resistance zones. This includes the $20 and $24. FIL is trying to consolidate gains above $25 right now and so far, the bulls have the upper hand. We expect FIL to continue trending upwards over the coming days. 

While it is unlikely it will surge past $35 before the end of the week, the coin will test that zone at least once. When this happens, FIL would have delivered gains of over 50% from the current price.

The long-Term Outlook for FIL

The long-term outlook for Filecoin has always been positive. In fact, conservative estimates are looking at $80 by the end of 2022 as long as sentiment remains strong in the market. 

As for the short term, FIL will trend towards $35 and is likely to settle around $45 in Q2 this year. This will represent a massive surge from the lowest point in 2022. It would also mean that FIL has finally reversed the downtrend.

The post Filecoin (FIL) could target $35 in major breakout – here is why appeared first on Coin Journal.

VeChain (VET) has been one of the main crypto performers of the past week. Although the broader market has seen significant gains, VET has surged by a whopping 54%. But how sustainable is this uptrend? More analysis in the post but here is what you need to know first:

• VET has trended upwards for the last several days and was up nearly 15% in the last 24 hours.

• The coin however faces significant overhead resistance at $0.9.

• VET has broken out from its 50-day EMA, suggesting bullish momentum.

Data Source: Tradingview 

VeChain (VET) – Is the uptrend sustainable?

A 54% push in just 7 days is no easy feat. VET has however been on a steady rise for several days. For most bulls, the key was the breakout above the 50-day EMA which appears to have triggered a significant rally. Despite this VET still remains lower than its 200-day EMA of around $0.9. This will prove to be a massive resistance level. 

So far, the coin is yet to test that threshold. Even though VET has surged by nearly15% today, its price remains at around $0.7, marginally lower than $0.9. 

For now, though, it seems like the trend is breaking upwards. We have seen VET post double-digit gains over the last two days. It is likely that the coin will once again repeat this in the two days ahead. This will push the price action well above the 200-day EMA, something that in turn will lead to a decisive bullish run.

Should you enter veChain (VET) now?

The break above the 50-day EMA was the sign for bulls to enter. It’s still not too late from a short-term point of view. VET is likely to rise in the days ahead. Also, from a long-term point of view, the fundamental value of veChain is quite incredible as well. It’s worth your investment.

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The digital global payments sector is valued at trillions of dollars. But despite this, this entire system is controlled by very few central players. The blockchain revolution is however trying to usher in a new age of decentralized global; payments. Here is why this makes a lot of sense:

• Decentralized payments will be resistant to censorship and government interference.

• A decentralized system can reach people who are traditionally underserved by global systems.

• Centralized systems have a lot of privacy-related issues.

If you are keen on making investments in this decentralized payment revolution, then there are some projects that are worth your time. Here they are:

Alchemy Pay (ACH)

Alchemy Pay (ACH) was one of the first major global decentralized payment systems that are hoping to lay the groundwork for a shift towards a globalized blockchain-powered system. 

Data Source: Tradingview 

Alchemy Pay basically tries to make it easier for individuals to pay using crypto wherever they are. It has also created an easy way for people to invest in crypto and manage those assets in one single place. ACH remains a highly underrated project with a market cap of $182 million. It has the potential to really blow up as the world starts to adopt decentralized payments more.

Biconomy (BICO)

Biconomy (BICO) is also a web 3 protocol that is designed to make it easier for DeFi apps to launch and deploy. It is aiming at creating a platform for interconnected DeFi protocols that will include several financial services including payments.

Anchain.AI

Anchain.AI is a new and upcoming project that is hoping to become the go-to platform for people who wish to trade and pay in Web 3. The platform bills itself as the “web 3 digital assets platform”. It is looking to offer a highly integrated financial service that will make it easier for people to pay in decentralized ways.

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There has been a lot of talk about the coming web 3 revolution. It is seen as the next age of the decentralized internet and a lot of tech companies are trying to own the future. So, what do we know so far about the web 3 revolution? Here are some notable developments:

• Big tech firms like Twitter and others are pushing the Web 3 idea

• Blockchain projects to support Web 3 are already in place right now.

• In 2022, investments in web 3 are heating up to new levels.

But what are some of the key blockchain projects right now that have the potential of triggering the Web 3 revolution? Here is our top 3 list.

Ankr (ANKR)

Ankr (ANKR) is a leading decentralized cloud computing service that has for years now been trying to rival centralized cloud providers like AWS, Microsoft, and Alphabet. Ankr basically allows people to share their unused computer resources and earn a return in the process. 

Data Source: Tradingview 

It is one of the key projects that could provide the basis of the computer power needed to power a fully decentralized internet. Also, Ankr has been adding several interoperability features and is already compatible with over 40 chains.

Avalanche (AVAX)

The key to Avalanche (AVAX) as a huge driver of the web 3 movement is its sub-chains. Avalanche basically allows developers to create small sub-chains within its main network to specifically power their DAPPs. Think of it as the windows or android for blockchains. This is likely to unleash massive innovation.

Golem (GLM)

Golem (GLM) works in the same way as Ankr. It is designed to help crowdsource computer resources and deploy them wherever they are needed. As noted above, decentralized computing power will be the driver of Web 3, and projects like Golem will make that happen in a big way.

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For a very long time now, $15 has been a crucial phycological mark for Chainlink (LINK). The coin has tried to maintain gains above that several times this year but has fallen again as volatility in the market continues to hit. So, what will happen this time? Here are some pointers:

• It’s the first time LINK has gone above $15 in several weeks.

• $15 had also proved to be a huge overhead resistance level for LINK’s upswings.

• Bullish momentum is looking likely but could slow down eventually.

Data Source: Tradingview 

Chainlink (LINK) – Price analysis and prediction

Converting $15 from overhead resistance to support is a big move for LINK bulls. The coin has surged past this level for the first time in a while, and based on the price action so far; it seems like it’s actually trying to consolidate here. The big question now is how long LINK can keep the price action above $15. 

If indeed bulls pull it off, then it is likely that the coin will move on to test the next overhead resistance zone of $18. Based on the current bullish momentum, we expect LINK to surge to around $19.5 before it tries to find more demand. 

However, with many short-term traders likely to lock in profit at that zone, we expect a slight pullback once LINK rides above $19.5 in the near term. Besides, The RSI right now has moved to neutral, which suggests any bull run will slow eventually in a few days.

Is it time to buy Chainlink (LINK)?

Founded in 2017, Chainlink (LINK) has grown to become one of the main blockchain projects in the world. It is quite low from its ATHs, but this also means that it is a very good option to buy at the moment. With LINK’s long-term potential, any investors worth his or her salt should have it.

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