Kategorie: Crypto News

The crypto market, in general, has steadied after a very volatile period during the start of 2022. Analysts are now focusing on long-term outlooks, and one coin that has grabbed the attention of everyone is Kava (KAVA). Could it actually hit $40 by year-end? Here is what you need to know:

• Short term volatility has put a lot of pressure on KAVA

• Hitting $40 will mean that the coin needs to grow 10X from its current price

• While this looks farfetched, it is not entirely impossible

Data Source: Tradingview 

Kava (KAVA) – The road to $40?

At the moment, KAVA is trading at around $3.89. Based on the performance of the crypto market over the last three months, it’s hard to imagine that KAVA could grow 10x before the year is out. But it’s actually not that hard to imagine. 

There are several reasons for this. First, Kava is adding EVM support. The move will make it interoperable with ERC 20 tokens. This is likely going to push more DeFi projects into the network. Also, EVM support means that apps already built for Ethereum can be deployed on Kava. 

In addition to this, it seems like the sentiment in the market is actually looking better than it did three months ago. Investors have started to price in the economic and geopolitical factors at play. As the broader market surges, KAVA could still follow. Despite this, we still think there are so many downside risks that will make the $40 dream very hard to achieve.

Is Kava (KAVA) worth the risk?

Kava is a great project and has been for the last few months. It has simply suffered from the general trend in the market. But its long-term value still remains very high. The fact that it’s adding more interoperability into its system is a big deal. Even if it doesn’t hit $40, it could still offer 3x or 4x growth.

The post Kava (KAVA) could hit $40 in the near time – Reason to Buy? appeared first on Coin Journal.

Polygon (MATIC) had been trending upwards for the best part of the week. The coin is, in fact, in the green over the last 7 days, and there were some analysts looking at a possible breakout. But MATIC was rejected at a crucial zone and this could spell doom for bulls. Here are the facts.

• After surging for the week, MATIC was rejected at $1.75.

• The coin has since fallen to $1.59 ever since.,

• It is likely MATIC will retest that zone again this week.

Data Source: Tradingview 

Polygon (MATIC) – Understanding the uptrend

The recent uptrend in MATIC has been quite impressive. The entire market also seems to be on the up, with Ethereum and Bitcoin also seeing major gains. But it is clear that the momentum for MATIC has slowed. For most analysts, the goal for the coin was to surge past $1.75.

This would have signaled a strong bull run that could be sustained for longer. But MATIC was decisively rejected at $1.75 and has since retreated significantly to hit $1.56. The $1.75 is actually the 200-day EMA, while the $1.56 is slightly lower than the 50-day EMA. 

It is conceivable that MATIC will bounce off between these two zones. We expect the coin to test $1.75 again this week. Whether this time round it will be successful remains to be seen. But a push above the 200 EMA will be the signal that bulls have taken over.

Is Polygon (MATIC) the future?

Polygon (MATIC) came out as an Ethereum scaling solution. It has since tried to fully diversify from its core business and is now creating new verticals in GameFI and NFTs. 

It is not the biggest crypto asset of course. But it will remain among the top ten for a long time to come. This makes it a very decent investment for the longer term.

The post Polygon (MATIC) rejected at crucial overhead resistance – Is the uptrend losing momentum? appeared first on Coin Journal.

Stellar (XLM) has been pushing more into DeFi in recent weeks, and this could have a positive impact on its price outlook. The coin has also been surging in recent weeks. How will the focus on DeFi affect XLM? More to follow below, but here are some facts for you:

• XLM has been up to over 15% over the last 7 days.

• The chain has been making major moves into DeFi in recent times.

• The 7-day rally will continue as sentiment in the market improves.

Data Source: Tradingview 

Stellar (XLM) – The long-term outlook?

DeFi has been one of the key drivers of growth in crypto for the best part of a year now. DeFi projects are expected to continue to explode. Stellar has been trying to bring in more DeFi to its ecosystem. In fact, the project just announced recently that it will be launching a new product that will aggregate DeFi protocols and connect them to investors. 

That news alone saw XLM surge by over 15%. As the push towards DeFi continues, we are likely to see gains in this token in the medium and longer term. Besides, we have also seen some steady improvement in investor sentiment over the last few weeks.

It is safe to say that the torrid start to 2022 that we saw is now starting to ease. As such, it is likely that we will see more growth for XLM and other coins.

Why is Stellar (XLM) a good project?

Even before its recent push to DeFi, Stellar still remained one of the most promising projects in crypto. This is a blockchain project that aims to spur the growth of innovative decentralized apps. 

Stellar has been working on improving cross-chain interoperability and is always finding new ways to add more value to its ecosystem. For an investor looking for a legitimate opportunity, XLM is up there with the best.

The post Stellar (XLM) pushes more into DeFi – Should you buy? appeared first on Coin Journal.