Kategorie: Crypto Analysis

Analysis of Loopring (LRC) over the last two weeks has largely struck a bearish tone. Most analysts were targeting a $1.3 price in the downtrend and true to that, LRC tanked to those levels. But there was some breakout that took the coin out of the $1.3 bedrock, and LRC even tested its overhead resistance at $1.6. But so far, Loopring (LRC) has stalled. Should you buy it? First some highlights:

• Despite breaking past its $1.6 resistance, Loopring (LRC) has struggled to sustain gains above that threshold, suggesting weakness.

• At the time of writing, the coin was trading at around $1.59, virtually unchanged in 24-hour intraday trading.

• Analysts warn that if gains above $1.6 are not sustained further, the LRC could easily tumble back to $1.3.

Data Source: Tradingview.com 

Loopring (LRC) – Price prediction and analysis

As noted above, commentary around Loopring (LRC) over the last two weeks was bearish. Technical indicators around the coin were pointing towards sustained price pressure, and eventually, LRC tanked to around $1.3. 

But there were some signs that perhaps a rebound was on the cards after the coin managed to retest overhead resistance at $1.6. But despite this, so far it has not managed to hold above that threshold. 

If this trend continues, LRC is staring at a collapse that will take it back to $1.3. But if bulls push gains above $1.6 and keep them there, a surge towards $1.9 and eventually $2.2 is still likely.

Why you should buy Loopring (LRC)

Despite the recent price pressure, Loopring (LRC) still has the potential to deliver immense value for investors. The token is actually getting listed in many exchanges, and its innovative use of third-party scalability solutions has made the network more efficient and faster. 

We still expect the price of LRC to rebound in the long term. For that reason, it is definitely a good buy for any crypto investor.

The post Loopring (LRC) price breakout is stalling – Should you still buy it? appeared first on Coin Journal.

After showing a lot of weakness during the start of 2022, Dogecoin (DOGE) is rebounding and appears to be on the cusp of an uptrend that could send it to obscene heights. The dog-themed meme token is attracting whale activity in fact, over the last few days, the top 1000 whales on BSC have been buying DOGE in droves. So, where will the price go? First, some highlights:

• We have seen an explosion of on-chain activity surrounding Dogecoin (DOGE) the last few days, suggesting increased whale buying.

• At the time of writing, Dogecoin (DOGE) had rebounded by nearly 10%, trading at $0.1707

• Despite this, Dogecoin (DOGE) is still around 75% down from its 2021 all-time highs that came in May.

Data Source: Tradingview.com 

Dogecoin (DOGE) – Price prediction and analysis

The new 2022-year hasn’t been kind to crypto. Just like altcoins, memecoins like Dogecoin (DOGE) have seen a consistent rout as downward pressure on the prices continues. But we are starting to see some recovery. 

For starters, Dogecoin (DOGE) has rebounded by 10% in 24 hours and is up nearly 8% over the last 7 days. Things might even get better for Dogecoin (DOGE). The meme coin is seeing increased bullish whale activity, something that could push prices higher. 

Despite this, some analysts are wary and argue that the coin must overcome resistance at 24 cents before any bullish surge happens. But if downside risks become more pronounced in the near term, Dogecoin (DOGE) could tumble to $0.09.

Should you buy Dogecoin (DOGE)

Dogecoin (DOGE) is a meme coin. In essence, it is a speculative asset that is not backed by any serious underlying fundamentals. In the long term, it’s not the best asset to hold. However, the increased whale activity around the token gives short-term investors a decent entry point to earn from a potentially good short-term Dogecoin (DOGE) uptrend.

The post Dogecoin (DOGE) looks like it’s about to explode – Analysis and price predictions below appeared first on Coin Journal.

Sentiment in the broader crypto market has started to improve after a massive sell-off at the start of the year. Cardano (ADA), just like other altcoins, saw sharp declines in price, hitting 6-month lows during the correction. But we are seeing some rebound. Here are some highlights

• Sentiment in broader crypto is showing signs of improvement, and Cardano (ADA) has improved with it.

• At press time, the altcoin was trading at $1.28, up nearly 10% in 24-hour intraday trading.

• ADA has also rebounded by a decent 13% after slumping to 6-month lows earlier in the week.

Data Source: Tradingview.com 

Cardano (ADA) – Price prediction and analysis

The last two weeks have been quite brutal for crypto investors around the world. The market has largely been on the red. Cardano (ADA) and other altcoins were not spared. Earlier in the week, the coin dropped to around $1.0701, its six-month low.

But we have seen a sharp 13% rebound ever since. Also, although the coin is below its 200-day EMA, it is above its 25- and 50-day EMAs, suggesting a decent uptrend is starting to take shape. 

So far, ADA has been bouncing between $1.1785 and $1.2501. We are watching to see if the coin can test the $1.5 mark. This could trigger a decent bullish breakout with sustained gains. But if bear pressure continues to hold, then it is likely that ADA may slump back to $1.100.

Should you buy Cardano (ADA)?

The answer is yes. Cardano (ADA) is a promising blockchain project that has seen immense growth over the last few months. It’s been attracting a lot of developers too and based on its fundamentals, it’s expected to be a huge project in the future. 

So, for investors who want a decent coin to buy and hold for a bit longer, then this is the perfect time to get in on Cardano (ADA).

The post Cardano (ADA) is rebounding from six-month lows – What to expect next appeared first on Coin Journal.

Elrond (EGLD) has been sliding down the crypto pecking order. The pressure on the price has pushed the market cap lower. Even though Elrond (EGLD) is still in the top 50, the coin could fall out soon if the current downtrend continues. We think that the downward pressure is far from over but first, some highlights here below:

• After hitting all-time highs of $560 last year, Elrond (EGLD) has spiralled downwards by over 60%.

• Although we saw some recovery at the tail end of 2021, the general trend for the coin has been downwards.

• A look at technical indicators shows that this pressure is not about to end anytime soon.

Data Source: Tradingview.com 

Elrond (EGLD) – Price prediction and analysis

At the time of writing, Elrond (EGLD) was trading at $214.74. The token is up about 5% for the day, but it’s still about 13% down over the last 7 days. Although EGLD has managed to sustain gains above the psychologically important $200 mark, it is still trading lower than its 25- and 50-day moving averages. 

We also noted that the price is lower than the 61.8% Fibonacci retracement. With this in mind, the bearish trend appears to be well in force. Unless the coin is able to rally and break above $245, it is likely that the price action will remain in the red in the near term.

Should you buy Elrond (EGLD)

Well, right now is probably not the best time to buy Elrond (EGLD). But don’t take this the wrong way. This is a very decent coin with the potential to really deliver value for investors in the long run. 

But since we expect the price to remain bearish, it would be best to wait for a further dip and get in on a better discount. Elrond (EGLD) is also ripe for short-term plays, especially for people who want to bet on improved crypto market sentiment.

The post Elrond (EGLD) Is Sliding Down the Crypto Ranking – Here Is Why the Trend Will Continue appeared first on Coin Journal.

The broader crypto market is rebounding today after a choppy start to 2022. As investor sentiment starts to improve, we are likely to see prices recover, consolidate, and surge in the near term. So, what are some of the altcoins to buy? Well, here is some criterion to follow:

• It helps if the coins are backed by strong long-term fundamentals and not hype and speculation.

• These tokens also have a relatively low market cap, suggesting the potential for growth is high.

• Also, the altcoins must be doing great things that will ultimately help increase their value in the long run.

Well, even with the 2022 slump, we still think that the three altcoins below are perfect buys for the year.

Aave (AAVE)

Aave (AAVE) is one of the most promising decentralised finance protocols. The platform is designed to help people lend and borrow crypto assets. At press time, the native token AAVE was trading at around $215.30, up about 6.5% in intraday trading. 

Data Source: Tradingview.com 

AAVE also has a market cap of around $2.9 billion, something that suggests there is enough upside there for more growth in the future.

Cosmos (ATOM)

Cosmos (ATOM) markets itself as an alternative to traditional blockchain networks designed to offer faster speeds, low costs, and scalability. It is one of the most highly rated blockchain projects this year and its native token ATOM is also surging. At the time of writing, ATOM was selling for $39.94, up nearly 8% in 24 hours.

Serum (SRM)

Serum (SRM) is the main decentralised exchange or DEX on Solana. It strives to offer users safe, fast, and secure transactions by leveraging the scalability of the Solana chain. Serum is currently trading at $3.11 with a market cap of $414 million. This makes it a very prime option for investors who would love to unlock its long-term potential.

The post Forget about the 2022 crypto slump: These are still the best altcoins to buy now appeared first on Coin Journal.