Kategorie: Crypto News

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Emerging bullish pattern could push AVAX past $98 – Price prediction and analysis below

After hitting all-time highs in the middle of December last year, Avalanche (AVAX) has been on a downtrend. The coin went from trading at $127 during its December highs to around $80. But we are starting to see some bullish patterns emerge that could push AVAX towards triple digits. Here are some notable highlights:

  • AVAX is emerging from the market-wide crypto correction. It was trading at $85.61 at press time, up about 2.3% in 24 hours.

  • The altcoin is nearly 30% down from its Mid-December highs, giving dip buyers the chance to swoop in.

  • The token still needs to break overhead resistance of around $91.94 to have any chance of surging past $100.

Data Source” Tradingview.com 

Avalanche (AVAX) – Price prediction and analysis

It’s very difficult to predict the crypto market right now. We have seen market-wide volatility and waning sentiment overall. But despite this, there are some good indicators forming for AVAX. 

First, it seems like the token has finally managed to weather the storm of the last 7-day crypto correction. Although it’s still down nearly 30% from December highs, the coin is showing signs of recovery and resilience, surging over 2.4% in 24-hour intraday trading. Nonetheless, the RSI shows some bearish divergence. This indicates that a trend reversal is near, but downside risks still remain. 

Avalanche (AVAX) has also reported some major additions to its ecosystem. In fact, Pollen, one of the main DeFi projects on Avalanche, announced the launch of its native token PLN on AscendEX, one of the leading global crypto exchanges.

Should you buy Avalanche (AVAX)?

Yes, Avalanche is a good buy for long-term crypto investing. For short-term plays, a bullish uptrend appears imminent. So, if you’d like to ride the recovery from the January correction, then it’s the perfect time to get into AVAX. However, be aware of significant downside risks.

The post Emerging bullish pattern could push AVAX past $98 – Price prediction and analysis below appeared first on Coin Journal.

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Chainlink (LINK) establishes upward trendline despite market-wide crypto correction

Chainlink (LINK) appears to be establishing an upward trend line that could see it surge towards $33. The coin has in fact been one of the better performers despite the market-wide crypto correction that we have seen over the past week or so. LINK is building this upward momentum, but can it hold? Well, here are some highlights first:

  • LINK has managed to retrace its 200-day exponential moving average over the last few days

  • The token also shows a bullish crossover of its 20- and 50-day EMAs

  • The coin has shown outstanding resilience even with massive downward pressure from the broader crypto market.

Data Source: Tradingview.com 

Chainlink (LINK) – Price prediction and analysis

LINK had shown some signs of recovery after the December Santa rally. The coin was testing its $23.16 resistance at the time. However, even despite massive downward pressure from the broader crypto market, LINK showed exemplary resilience, surging past $23.16. 

At the time of writing, the coin was trading at $26.28 and is firmly testing overhead resistance of around $28.7. When you consider the downtrend we have seen in crypto over the last week, it is clear that LINK has actually done quite well. 

If the coin is able to break past $28.7, we expect it to surge past $33 in the near term. But with sentiment in broader crypto still bearish at the moment, it may take longer for LINK to break that threshold.

Should you buy Chainlink (LINK)

LINK has always been one of the best crypto assets to buy and hold for the long term. The coin right now is heavily discounted. As such, it’s a good time to get in. 

The underlying fundamentals are positive, and the price analysis suggests a short-term rally that could help mask out some of the losses we saw in the last 7 days.

The post Chainlink (LINK) establishes upward trendline despite market-wide crypto correction appeared first on Coin Journal.

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Crypto strategist outlines 2022 bullish scenarios for Polygon, Fantom and Enjin Coin

Cryptocurrencies continue to face downward pressure as sentiment across the equity market also weighs on crypto assets.

Popular crypto analyst and trader Michael van de Poppe has highlighted the next possible moves for several altcoins, including Polygon (MATIC), Fantom (FTM), and Enjin Coin (ENJ).

The analyst also highlights the technical outlook for two other altcoins- Woo Network (WOO) and Verasity (VRA).

Van de Poppe also believes flagship cryptocurrency Bitcoin could see a decent bounce and break to the $46,000 price level. This follows the cryptocurrency’s flip above $40k after a brief dip to lows of $39,600 on Monday.

Fantom (FTM) is one to watch

Turning to the altcoins, the analyst says that Fantom price could see another run, off major support levels. He looks at the FTM/BTC pair as indicative of the bullish resilience, noting that 0.0005 BTC makes a good entry point for the coin.

Michael van de Poppe believes FTM, alongside Cosmos (ATOM) and Chainlink (LINK), are some of the altcoins that have shown great strength recently. He says if Bitcoin price “settles”, then FTM would be one of those altcoins to watch.

Polygon (MATIC)

The analyst is also keeping tabs on Polygon, another coin that saw a massive run in 2021 but has faced increased pressure since the broader market correction started in December.

Van de Poppe says MATIC has the potential for another bullish break if prices flip above a key resistance zone at $2.15-$2.20.

ENJ and WOO also look decent

As for Enjin Coin (ENJ), the crypto strategist notes that the extended correction has bulls looking at two critical support levels. The first is around $2.20 and the second one could be at the $1.90 area.

He notes that if prices hold above the two anchors, it’s possible for ENJ to see fresh upside momentum.

He says that ENJ has „two massive areas of support,“ zones at which he would „personally want to be seeking for longs.”

Next up is WOO, the native token on the Woo Network. According to van de Poppe, the token’s value is likely to explode if it breaks against Bitcoin. Currently, the WOO/BTC pair is priced at 0.00002214 BTC, with the altcoin 2.4% down against the top crypto in the past 24 hours.

Verasity (VRA) could soon rise to 6800 sats

But the trader points out that the coin has tested a key supply zone multiple times and the potential for a bullish continuation is there if buyers keep hitting higher lows.

The other altcoin on the analyst’s list of potential outperformers in 2022 is Verasity (VRA). The price of the token is down nearly 25% in the past 7 days, which the analyst notes. The VRA/BTC pair is trading around 6300 sats as of writing, above the support zone at 5335-5800 sats.

Van de Poppe says VRA could see a fresh bull wave if it breaks higher above the main resistance around 6800 satoshis.

The post Crypto strategist outlines 2022 bullish scenarios for Polygon, Fantom and Enjin Coin appeared first on Coin Journal.

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Market highlights January 11: Cryptos mostly lower, rate rise threat unsettles US markets

The crypto market as a whole is bearish today. US markets were mixed yesterday, with the threat of multiple upcoming rate rises causing investors to reposition their portfolios. The tech-heavy NASDAQ100 (+0.14%) was the only major US index to finish in the green yesterday. Investors will be following the testimony of Federal Reserve Chair Jerome Powell, who is set to testify before the Senate Banking Committee.

Top cryptos

The crypto market was mostly lower over the past 24 hours, as the majority of top 10 cryptos were in the red this morning. Bitcoin stood out, registering small gains, and trading above $42,000 at time of writing. Ethereum and Cardano were down around 1%, while XRP registered small losses.

Terra’s LUNA token was not spared the ramifications of the recent crypto bloodbath. However, it’s one of the few top 10 coins that are beginning to recover. Today, it gained 2%, as did Polygon.

Top movers

NEAR is today’s biggest winner in the top 100. Its price is $16.44 with a 24-hour trading volume of just under $1.8 billion. The NEAR token is up 17% in the last 24 hours.

Oasis, a privacy-focused layer 1 blockchain built for open finance and a responsible data economy, gained 10% today. Cosmos added 6% to its value today. IOTA, the only blockchainless blockchain, is another one of the few gainers on this day of crypto market gloom. It has added around 3% to its value in the last 24 hours. 

On the losing side, we have Arweave with -8%, Loopring with -7%, and The Graph and SAND, both of which lost 6%. Ravencoin and CELO are also down by 6% each, reversing recent gains.

BORA lost another 5% today and is down to #100 in the coin rankings after losing over a quarter of its value in a week. It risks falling out of the top 100 if the bearish trend continues.

Trending

SpookyShiba, which bills itself as the first „horror genre“ token, is a dog-themed meme coin that added 40% to its value today. Its creators are working on an NFT marketplace, which will be released in early 2022, hence the token’s price surge.

The post Market highlights January 11: Cryptos mostly lower, rate rise threat unsettles US markets appeared first on Coin Journal.

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Top places to buy IOTA, one of the few winners today

IOTA, the only blockchainless blockchain, is one of the few gainers on this day of crypto market gloom. It has added around 3% to its value in the last 24 hours. This guide has everything you need to know about IOTA: what makes it unique, if it’s worth buying, and the top places to buy IOTA now.

Top places to buy IOTA now

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What is IOTA?

IOTA is a distributed ledger with one big difference: it isn’t actually a blockchain. Instead, its proprietary technology is known as Tangle, a system of nodes that confirm transactions. 

The foundation behind this platform says this offers far greater speeds than conventional blockchains — and an ideal footprint for the ever-expanding Internet of Things ecosystem.

Because there’s no blockchain, there are no miners, and because there are no miners, there are no fees. Many established networks see costs balloon when congestion intensifies, but IOTA aims to provide limitless throughput at minimal expense.

In time, IOTA’s goal is to become the de facto platform for executing transactions between IoT devices. Given how estimates suggest there could be 20.4 billion such devices out there by 2024, this could end up being big business.

The team behind IOTA believe that the potential use cases don’t end here. They believe their distributed ledger could deliver digital identities to all, pave the way for cutting-edge smart cities, deliver seamless global trade and prove the authenticity of products.

Should I buy IOTA today?

IOTA can be an excellent investment, but it could reverse its gains as well. Cryptocurrencies are prone to extreme price swings in both directions. Take all investment advice and price predictions with a grain of salt.   

IOTA price prediction

According to redditors, IOTA will start rallying and reach $3 by the middle of this year. Trading Education expects the price of IOTA to reach $2.53 by the end of the year. 

Finally, Trading Beasts is the least bullish, predicting IOTA will reach $1.7 in one month. The expected maximum price is $2.44 in 2022.   

IOTA on social media

 

The post Top places to buy IOTA, one of the few winners today appeared first on Coin Journal.