Kategorie: Crypto Analysis

Besides bullish momentum in the broader market, BAT fundamentals are strong.

• Basic Attention Token is in a breakout, and buying Volumes are rising.

• BAT is one of the fundamentally strongest cryptocurrencies in the market, a factor that favors its odds of sustaining the current rally.

• BAT powers the brave browser, and with privacy taking center stage on the internet, Brave Browser adoption is growing.

Basic Attention Token (BAT) is one of the cryptos with an actual use case. It is among the few that even a layman can understand what it means and how it works by a quick glance at it. This is a big deal because it means that with crypto adoption on a growth trajectory, such cryptos stand to draw in the most volumes once the markets turn bullish again.

The Basic Attention Token is the token that runs the Brave Browser ecosystem. Brave is a privacy-focused browser that uses its high search speeds as a selling point. Unlike other browsers that make money by selling user data, advertisers pay users for their attention when using Brave. Anyone who takes time to view adverts on the Brave Browser gets paid in BAT tokens. 

Essentially, the more people use Brave, the more BAT tokens are used, which is a plus in demand and long-term value growth. The best part is that Brave Browser adoption is on a growth trajectory. So far, more than 4 million people use Brave, and the numbers are growing. This has a lot to do with its privacy features. Privacy is increasingly becoming a big deal to many people, meaning BAT has a lot of room for growth, especially if the markets turn bullish again.

Basic Attention Token breaks out after weeks of consolidation.

Source: TradingView

For the last couple of weeks, BAT has consolidated between $0.635 and $0.755. However, in the past 24-hours, BAT has broken out of this range and with high volumes. If the market sustains the current upside momentum, BAT could easily break the $1 mark in the short term.

Summary 

BAT is in a breakout, a move that was triggered a bullish breakout in the broader market. However, while the current price move is mainly speculative, BAT has the fundamentals to sustain a rally and make new highs in the long run.

The post Basic Attention Token could test $1 in the short term appeared first on Coin Journal.

• Chainlink is the most dominant player in the platform blockchain market. 

• Chainlink is interlinked with all major platform blockchains as it’s needed for smart contracts to execute correctly.

• Chainlink is currently in a breakout after consolidating for weeks. 

On the weekly charts, the market continues trading in a consolidation pattern, which makes now a perfect time to accumulate high-potential cryptocurrencies. With fundamentals increasingly taking center stage in the crypto market, there is a pretty high chance that fundamentally strong cryptos could outperform the market long term.

For this reason, Chainlink (LINK) easily stands out as one of the cryptos that are worth accumulating at current prices. One factor that makes LINK strong is its dominance in the oracles market. Chainlink commands over 65% of the decentralized oracles market compared to all its competitors. Essentially, it has a chokehold on this market and is unlikely to be dethroned, just like Bitcoin is unlikely to be displaced as the number one crypto.

However, it is not just about being number one in its niche, but also that Chainlink’s core market is essential. Decentralized oracles are at the center of all smart contracts. Without them, it would be impossible for smart contracts to run. For this reason, Chainlink is intertwined with all the major platform blockchains ranging from Ethereum to Solana.

Given that smart contracts are increasingly becoming the backbone of the crypto market and pretty soon the entire world economy, the use case for decentralized oracles like Chainlink will only get stronger. By extension, this means higher demand for LINK, which will reflect in its long-term price.

LINK is in a breakout; can it sustain momentum?

Source: TradingView

After trading in a range between $12.68 and $13.38, LINK is currently in a breakout, following a similar price action in the broader market. If Bitcoin can hold above $40k and buying volumes increase, LINK could easily test $20 in the short term. 

Summary

Chainlink is one of the strongest cryptos in the market when you consider fundamentals the primary analysis metric. It has more than 65% of the decentralized oracles market and is needed for smart contracts to run as required. With the broader market showing some upside momentum, LINK has broken out of a multi-week range and high volumes.

The post Why LINK could be a great investment for 2022 and beyond appeared first on Coin Journal.

Metaverse coins are currently under pressure. Although the broader crypto market has struggled in recent times, it seems like metaverse tokens have actually been hit hard. But this offers investors new opportunities to buy cheap assets. Is the dip worth it?

• Most metaverse coins are over 90% down from recent peaks

• These coins however still have so much potential.

• Recent dips could be perfect for both short- and long-term plays.

Well, for dip hunters keen on the metaverse, we have created a list of three coins that should be worth it.

Decentraland (MANA)

Decentraland (MANA) is a virtual platform that allows people to build digital communities. You can own virtual real estate here and interact with other users. MANA, the native token for the Decentraland platform, was a huge performer in 2021.

Data Source: Tradingview 

But after peaking in February, it’s been free fall ever since. According to current estimates, MANA is now nearly 60% off from its recent highs. This presents the ultimate dip for both short-term traders and long investors. At press time, MANA was selling at $2.26 with a market cap of around $4.1 billion.

Victoria VR (VR)

Victoria VR (VR) is a metaverse microcap that has also been feeling the pressure. The token is based on the Victoria VR MMORPG virtual reality universe. At press time, it had a market cap of about $100 million. In most cases, when large-cap coins like MANA rally, microcaps tend to see higher gains. Victoria VR (VR) could give investors a chance to make some returns.

Stacks (STX)

Stacks (STX) is also another metaverse coin that has been deep in the red over the last two weeks. Like MANA, it has lost around 65% from its recent peak. Stacks is actually a very interesting project with superb long-term utility. The 65% dip is such a perfect entry for anyone interested in it.

The post Top 3 coins to buy after the metaverse bloodbath appeared first on Coin Journal.

After dropping significantly in recent weeks, The Graph (GRT) is now finally ready to rise again. A period of consolidation has now ended, and the coin could be looking to surge upwards. But how will this uptrend play out? We will analyze below but check out these highlights first.

• GRT had bottomed at its crucial support of $0.317 in recent days.

• After consolidating, the token is now rising again and is up over 20% in the last 3 days.

• At press time, GRT was trading at $0.3885, up 6% in the last 24 hours.

Data Source: Tradingview 

Can Graph (GRT) reclaim the $0.4 support?

Reclaiming the $0.4 support will be very crucial for GRT bulls. It is also the most important overhead resistance that could be decisive in the coming days. In previous trading sessions, GRT has tested $0.4 several times but has been rejected in almost all instances. There is no reason to believe that this time around, it will be different. 

At press time, the token was trading at $0.3885. We expect the price action in the coming days to get close or even slightly above $0.4. But it remains unlikely that GRT will sustain any decent gains above that price. 

Instead, another rejection is coming, and when it happens, the coin will pull back to its next support, which is $0.317. But if bulls can pull it off and surge past $0.4, then another 25% uptrend is possible before the correction sets in.

Graph (GRT) – The long-term outlook?

The long-term outlook for Graph (GRT) still remains very good. Yes, the coin has seen a lot of pressure at the start of the year. 

The volatility is likely to persist in the next few weeks too. But analysts still think that GRT is on course for decent gains in 2022. It is therefore a good coin to buy and hold for the long-term investor.

The post Graph (GRT) starts to consolidate – Can it reclaim the $0.4 resistance zone? appeared first on Coin Journal.

The last 30 days have proved very difficult for Polkadot (DOT). The coin has been dropping fast, including the total value locked or TVL. But despite this downtrend, there is still a chance that DOT could rebound in the near term. Here is all you need to know.

• Total Value Locked (TVL) on DOT has dropped by nearly 78% in just a month.

• But DOT is trying to consolidate, and it could rebound in the near term.

• At the time of writing, the coin was trading at $17.51, virtually unchanged in the last 24 hours.

Data Source: Tradingview 

Polkadot (DOT) – How soon can it rebound?

A trend reversal for DOT is not far away. In fact, looking at the price action, the downtrend has stagnated. This could suggest that perhaps DOT is consolidating and trying to find sufficient demand. 

But the drop in TVL is a big blow for investor confidence. In just one month, Polkadot has lost over 78% in TVL. It will take time to recover these losses but even then, the price might rebound much faster. After all, the technical indicators are somewhat bullish. 

For instance, DOT still remains above its 50-day SMA even after the TVL plunge. Relative Strength Index, a crucial momentum indicator, also points towards a bullish trend. While we are not clear how far the coin can rise once the downtrend reverses, a gain of around 30% is still possible.

Best time to buy Polkadot (DOT)

Polkadot (DOT) is an Ethereum scaling solution that saw immense growth last year. Some of these gains are however fading away but do not let this fool you. 

Polkadot remains a powerful cross-chain solution that will have a huge role to play in the blockchain evolution. This is why the recent plunge in pricing gives you the best chance ever to buy at a very good entry point.

The post Polkadot (DOT) could still surge despite the recent drop in TVL appeared first on Coin Journal.