Kategorie: Crypto News

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High Street metaverse: Why you should consider buying

Virtual reality is going to transform human interaction over the coming years. All the biggest tech companies out there are investing in the metaverse, and the future looks quite bright. But there are some projects that already have so much potential, and High Street is one of them. Here is why:

  • The project has been growing fast with an oversold IHO

  • High Street has also reported massive social media engagement in recent weeks

  • The platform is creating a retailed-focused metaverse that could offer incredible utility

Data Source: TradingView

Why you should buy High Street

There are many metaverse projects right now, and each claim to offer something different from the other. But there is just something about High Street that appears very promising. First, the projects want to create a highly integrated metaverse. Think of it as a city in virtual reality.

So far, the plan is to build homes, retail spaces, and other virtual amenities. The buy-in for the project has also been quite impressive. In fact, the Initial Home Offering or IHO for High Street Solarium homes was oversubscribed. Over $9 million was spent on these homes. This shows you that many people are getting into this.

Also, we are talking about a very small project so far. HIGH, its native token, has a market cap of $15 million. Keep in mind that nearly half of all the goals in its roadmap are still not yet achieved. This opens up the project to massive growth potential.

What is High Street’s future?

In essence, High Street wants to be a virtual city. There will be additional gaming and social elements included in the future but at the center of this project is the idea of bringing retail to the metaverse.

So far, there are very few other projects doing this with the success that High Street is seeing. It is a project truly worth looking at.

The post High Street metaverse: Why you should consider buying appeared first on CoinJournal.

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Chainlink’s downtrend could stop if this support holds

Crypto has come into focus over the last few days after a major crash. Most coins have been on free fall, LINK included. But contrary to the doom and gloom out there, a complete crypto collapse is highly unlikely. LINK in particular has a real chance of stopping the downtrend, but it will need to hold a very important support level. Here are some facts to keep in mind:

  • LINK dropped nearly 40% in two days this week

  • The coin has recovered a bit from these losses but still remains weak

  • If LINK can maintain the price above $6.10, it can avert a major downside

Data Source: TradingView 

Will the support hold?

The big question for most bulls is whether there is enough confidence in the market to avert another sell-off. After the Fed made a commitment to fight inflation with an aggressive interest rate hike, risk assets saw a major boost. But there are fears this short-term rally is not going to last.

So, for LINK to maintain the $6.10 support, it will need to at least avoid a 10% decline over the coming few days. While this is possible, based on overall sentiment in the market, there is still a risk that the support could be breached.

If this happens, the next strong support will be around $4.5. This would represent a 40% drop from the current price. But if $6.10 holds and the price action consolidates around it, LINK could surge above $8 by the end of trading this week.

Major Ecosystem updates for LINK

Although the downtrend in recent weeks has been quite disappointing, LINK has been doing very well in building up its ecosystem. New plans on staking have already been rolled out, and the project has signed major partnerships. 

From a fundamental point of view, things are looking good for LINK. The only thing needed now is for sentiment to turn around in the broader market.

The post Chainlink’s downtrend could stop if this support holds appeared first on CoinJournal.

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Bitcoin could finally bottom after one more dump

Bitcoin hit an 18-month low over the last three days. The coin is seeing its worst sell-off in 2022 as broader weakness in the market deepens. We have seen some recovery though but it’s still not enough to reverse the downward trend. BTC could bottom with one more sell-off. Here are some pointers:

  • BTC has managed to stay above $20,000 despite major pressure.

  • The coin however has very limited upward momentum.

  • Once the $20,000 is breached, there is very little support below that.

Data Source: TradingView

Where will BTC bottom?

Many analysts agree that the crypto correction we have seen in 2022 is far from over. The market has been quite weak, and for BTC the downtrend is inevitable. For now, the coin has shown a bit of resilience in the face of major pressure. But this will not last long. 

In fact, when you look at the long-term chart patterns, there is very little support for BTC below $20,000. The coin could easily end up bottoming at $12,000 in this bearish cycle. However, we do not think there is any downside below $12,000. So, a complete BTC crush is not probable.

Also, once the coin finds sufficient support at $12,000, it will likely attract some dip buyers who want to cash in on the drop. Besides, the $12,000 price is not that far away from the current price. It could in fact come much sooner than we expect.

Where will Bitcoin go long-term?

Right now, it’s very hard to predict where the coin will end up once 2022 is over. But it’s important to get ready for a bumpy ride. It will be hard for bitcoin to hit $50,000 this year.

This was one of the most optimistic predictions by most analysts. Instead, the coin’s fair value will likely stabilize around $36,000 or thereabout. But this will also be determined by how fast headwinds in the market ease.

The post Bitcoin could finally bottom after one more dump appeared first on CoinJournal.

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Tron surges by nearly 25% – Dead cat bounce or real momentum?

The crypto market has stabilized after two days of massive sell-offs. This comes as the US Fed made a serious commitment to deal with inflation with aggressive monetary policy. Tron (TRX) has been one of the best-performing coins in this recovery, with a 25% upswing over the last week. But is this real momentum or just another dead cat bounce? Here is what you need to know:

  • TRX showed incredible resilience even as the market crashes

  • The coin is now above a crucial $0.05 support and could stay there for days

  • With momentum picking up in the market, TRX could hit $0.09.

Data Source: TradingView

How long can TRX maintain the uptrend?

Well, there are many factors at play in crypto right now. The Fed’s aggressive move to deal with inflation is a good sign. But there are still many underlying economic factors that could make any rally short-lived. 

For instance, there is a real prospect that a major recession in the US could come later this year. So, for TRX, the uptrend will have to deal with these possible risks. If momentum in crypto slows, then it will be hard for TRX to maintain growth. 

We don’t think there is enough confidence in the market for a sustained bull run in crypto right now. As such, TRX will see a dead cat bounce rally over the coming week before it retreats again. But if it can stay above the $0.05, the possibility of a major downside is limited.

TRX’s short-term trading play

The best way to invest in a risk-averse market is to pick a short-term position. TRX offers a good play in this. 

First, if the coin stays above $0.05, it could provide a decent entry point for bulls. A short-term rally will likely push TRX toward $0.09. This will be the ideal time to exit and cash out.

The post Tron surges by nearly 25% – Dead cat bounce or real momentum? appeared first on CoinJournal.

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Spotlight on Celsius as Texas securities regulator opens investigation: Report

Regulatory scrutiny on Celsius Network, a leading crypto lender in the market that’s hit turbulence, continues to mount, according to a report by Reuters on Thursday.

Celsius hit headlines this week as concerns over a potential flip into insolvency heightened following its decision to pause customer withdrawals.

According to the report, the Texas State Securities Board has confirmed that it has indeed opened an investigation against the crypto lender.  Other investigations have been opened in Alabama, Washington and New Jersey.

The Texas regulator has reportedly certified the matter as a “priority,” with concerns that the company’s situation poses serious financial ramifications for customers.

The probe into Celsius comes as the New Jersey-based firm looks to navigate the murky waters that it currently wades in. On Wednesday, the company moved to hire business restructuring lawyers.

Celsius CEO Alex Mashinsky has assured customers and the broader community that the firm is “working non-stop” on the issue. Other than this, not much has been forthcoming and the ‘freeze’ on all withdrawals remains in place.

The post Spotlight on Celsius as Texas securities regulator opens investigation: Report appeared first on CoinJournal.