Kategorie: Crypto Analysis

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.

Bitcoin Cash (BCH) looks poised to maintain its overall bearish outlook. The coin is facing significant downward pressure as sentiment in broader crypto remains uncertain at best. Although BCH has largely been trading sideways over the last few weeks, we do not see enough upside for a bullish surge in the near term. Here are some important highlights:

• At the time of reporting, the coin was selling for $431, significantly down from its monthly highs of around $482.

• Analysts see the $500 mark as a big psychological barrier for investors, but a possible rally towards that in the near term looks unlikely.

• BCH is also trading below its key moving averages, suggesting a bearish alignment is in force at the moment.

Data Source: Tradingview.com 

Bitcoin Cash (BCH) – Price action and predictions

In November, BCH managed to hit $732, its highest price in two months at the time. But this was a short-term rally as the coin tumbled thereafter. BCH is currently priced at $431. We see the next support at $413. 

If bear pressure persists, the coin could easily retreat towards that price. Overhead resistance, on the other hand, is at the $489 mark. We also noted that BCH is trading below its crucial 25-, 50-, and 200-day exponential moving averages. 

With sentiment in the crypto market uninspiring right now, we don’t see this bearish outlook breaking in the near term. If anything, once BCH drops past the $413 support, then further decline below $400 is inevitable.

Should you buy Bitcoin Cash (BCH)

Bitcoin Cash (BTC) was built to provide secure and fast digital payment systems. It has seen wide adoption and will continue to rank as one of the most innovative crypto projects. However, right now, it’s not the best time to buy. I’d wait till the bearish outlook abates before buying in.

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The crypto market has typically attracted a lot of new innovations. But there are also some tokens that are simply launched for that feel-good factor and not really based on any intrinsic value. Football tokens are in that category. They are basically designed to be part of the loyalty and passionate fanbase we know in football. Nonetheless, here are some facts about football tokens:

• Football fan tokens don’t typically have a lot of underlying value and are simply loyalty assets targeting fans.

• Some football clubs are also adding the sale of NFT collectibles in addition to the fan tokens as well.

• These tokens also benefit a lot from the visibility and the name recognition associated with these clubs.

Well, in case you are thinking of grabbing yourself some fan tokens, here are a few options to consider by market cap:

Paris Saint Germain Fan Token (PSG)

The Paris Saint-Germain Fan Token (PSG) is a fan token for the supporters of one of the biggest clubs in France. The coin is available for trading in all major exchanges around the world. 

Data Source: Tradingview.com 

At the time of writing, it was selling at around $15.23 with a market cap of $48 million. It is also the largest fan token by market cap right now but still falls way low in the overall crypto market, ranking 622.

S.S. Lazio Fan Token (LAZIO)

Lazio is one of two big clubs based in the Italian capital of Rome. Its fan token is surprisingly valuable, seeing that the club is not really one of the biggest in the world. Nonetheless, the S.S Lazio Fan Token (LAZIO) is currently trading at around $4.57, down 13% over the last 7 days. The coin has a market cap of around $40 million. 

You don’t have to be a fan of these clubs to buy these tokens. But since they don’t have a lot of intrinsic value, they can be highly risky.

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