Kategorie: Crypto News

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Terra (LUNA) Staring at possible correction – Here is what to expect next

After seeing gains over the past few trading sessions, Terra (LUNA) has stagnated and is starting to pull back. We have also seen the price action hover around a very tight range. We may see a small correction in LUNA in the near term. Here are some of the facts:

  • After surging for a few days, it is likely investors will take profit.

  • Failure to clear above $90 at the start of trading Monday could suggest weakness.

  • The relative Strength Index also shows a bearish outlook in the days ahead.

Data Source: Tradingview 

How far can Terra (LUNA) drop?

We are not looking at a huge drop here. In fact, in the last 24 hours, the stablecoin platform had lost around 1%, but more will come. The key will be to look at the $90 mark. This had always proved to be a key support zone for LUNA. 

If at the start of trading on Monday the coin is well below that, then we could see a wipeout of at least 15% before the end of the week. Besides, there is a trend in this volatile market over the last few months to note.

You see, in most cases, bullish momentum is driven by short-term speculative traders. It is likely they will lock profit at $90. This is going to trigger a mini sell-off that could push LUNA further towards $75.

Is Terra (LUNA) worth your time?

Well, the fact that Terra (LUNA) is among the top 10 crypto assets in the market means that you should give it your attention. But it doesn’t seem like there is any serious upside momentum right now. 

A good play will be to wait for the correction to come through in the coming days and then buy at $75 or thereabout. But short sellers can also play the short-term decline for a profit.

The post Terra (LUNA) Staring at possible correction – Here is what to expect next appeared first on Coin Journal.

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Algorand (ALGO) analysis – Crucial buying opportunities to watch in the coming days

Algroland (ALGO) logo on a mobile phone being held by a hand to view

In case you have been thinking of adding Algorand (ALGO) into your portfolio, then the coming days could present some decent buying opportunities. This applies to both short-term and long-term plays as well. Before we get to the analysis, here are the main facts:

  • Algorand has surged by nearly 20% over the last 5 days or so.

  • The bullish run is going to continue, and investors can buy-in.

  • There are several buying zones you can consider to earn decent returns.

Data Source: Tradingview

Algorand (ALGO) – Buying zones to watch

After surging over the last few days, Algorand has faced massive resistance at $0.9. In fact, it seems the price has stagnated here, but the coin is continually testing this zone in a huge way. We expect there will be some bullish momentum to take the price action above $0.9. 

When that happens, it would be a good time to buy. But in case you don’t want to face the risk of a trend reversal, you can watch $1.1. After $0.9, the $1.1 mark will be ALGO’s next big test. If indeed the coin is able to rise above that, then it is likely going to surge past $1.4 in the near term. 

However, this bullish thesis will become null and void if ALGO falls below $0.8. We however don’t see this happening in the days ahead unless something major happens in the broader crypto market.

Why you Should buy Algorand (ALGO)

Algorand (ALGO) has had a very volatile time since it debuted in the market in 2019. The coin has fallen massively below its ICO price which was at $2.4. But there is still a lot of value that Algorand can offer. 

It is likely that the coin will regain some of this upward momentum and reclaim the $2.4 price before the end of the year. That will be over 100% in gains from the current price.

The post Algorand (ALGO) analysis – Crucial buying opportunities to watch in the coming days appeared first on Coin Journal.

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These are the top 3 coins for yield farming

There are a lot of ways to make money in the crypto industry. While buying crypto assets and holding them for capital appreciation is the most common, it is actually possible to earn very good annual yields with staking and yield farming. Here is why yield farming makes sense:

  • It helps to preserve your capital for a longer time.

  • You can earn yields while your crypto assets appreciate in value.

  • Yield farming is available in almost all blockchains out there.

With that said, if you are trying to find some decent opportunities for yield farming, we have a list here below that can be perfect for this:

Uniswap (UNI)

Uniswap (UNI) is the biggest decentralized exchange on the Ethereum chain. It requires a lot of liquidity and as such, users can stake their crypto assets and earn yields from these liquidity pools. 

Data Source: Tradingview 

The great thing about Uniswap is that it offers the best returns of any staking and yield farming program. We are talking about annual yields of between 20 and 50%.

PancakeSwap (CAKE)

PancakeSwap (CAKE) has also been doing a very good job of offering decentralized exchange services using liquidity pools. It’s more or less like Uniswap. But its yields are just crazy. Users can earn between 8% to as high as 250% for staked assets. The range is huge no doubt but even 8% a year is not that bad.

Cranos (CRO)

Cranos (CRO) was formerly known as Crypto.com. It is one of the main crypto exchange platforms in the world, with trade volumes in the billions of dollars. The change to Cranos however reflects the direction that Crypto.com wants to take. 

In a nutshell, the goal is to bring more DeFi features into its ecosystem. But in case you would want to make a decent and long-term income here, the staking and yield farming program is quite impressive. Users can earn up to 15% in yields each year.

The post These are the top 3 coins for yield farming appeared first on Coin Journal.

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The best bullish coins that you can consider buying right now

It seems like the crypto market is starting to find its legs again. After ups and downs over the last three months, we have seen sustained periods of consolidation. Positive investor sentiment is starting to come back. So, here is what to expect:

  • A lot of coins are likely to go on decent bull runs

  • Pullbacks will come of course, but the general trend will be up.

  • Risks however still remain, including high inflation and conflict in Europe.

For investors looking for bullish cryptos, there are a lot to choose from. But we decided to pick out three of the best.

Ripple (XRP)

Ripple (XRP) has had its issues this year. The coin was in the middle of a big lawsuit with the Securities and Exchange Commission or SEC. Because of this uncertainty, a lot of investors were staying away from XRP. 

Data Source: Tradingview 

The coin has therefore remained highly undervalued but in the last few weeks, it seems like the SEC case is now starting to go away. XRP has therefore remained bullish and could surge very strongly in the near and medium-term. In fact, we are likely to see the unlocked potential of XRP come to the fold.

ThorChain (RUNE)

A lot of positive ecosystem news has been coming out of Thorchain (RUNE) over the last week or so. The coin has also managed to snap out of the February downtrend and is gaining quite a lot. In fact, RUNE is up 20% in the last 7 days. The trend will continue in the near and long term.

Convex Finance (CVX)

Convex Finance (CVX) is one of the most promising DeFi projects in the market. The project is actually up by around 30% for the week. As the DeFi revolution continues to expand, coins like CVX are likely to get more demand. This will eventually push the price action higher and higher.

The post The best bullish coins that you can consider buying right now appeared first on Coin Journal.

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Top 3 DeFi Protocols that are growing really fast right now

Access to finance and capital is one of the most important things for personal economic growth. But the centralized financial system has made it harder for people to achieve this independence. This is why DeFi is stepping in to offer lending services. Here is why this idea is heating up:

  • DeFi is fully decentralized, so people can access it anywhere in the world.

  • DeFi also allows for peer-to-peer lending services.

  • There are new tools that allow lenders to manage risks effectively.

Well, if you are convinced that lending is the future of DeFi, then there are three incredible projects that you should look at. Here they are:

GoldFinch (GFI)

GoldFinch (GFI) is trying to revolutionize the way crypto-backed loans are offered through DeFi protocols. The project is basically wavering collateral requirements. This is designed to remove the barriers that have, for so long, making it harder for the average person to get crypto loans.

Data Source: Tradingview

GoldFinch is backed by major venture capital firms and has grown massively. In just under a year, active loans given moved from $250k to nearly $36 million. Over 200,000 people in 18 different countries are already benefiting from this.

Celsius (CEL)

Celsius (CEL) is an all-inclusive blockchain with several DeFi features. While the platform was specially designed to allow for the creation and deployment of DAPPs, it has been able to attract lending protocols as well. Users can get collateralized loans with interest rates of as low as 1%. This aspect of the Celsius ecosystem has expanded quite a lot.

Maker DAO (DAO)

Maker DAO (DAO) is also an inclusive project that has incorporated a unique DeFi protocol as well. There are several lending options there but the versatility of Maker DAO makes it a very good project for anyone looking for a safe long-term bet.

The post Top 3 DeFi Protocols that are growing really fast right now appeared first on Coin Journal.