Kategorie: Crypto News

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Dent (DENT) may have a capped upside despite the recent rally – Here is why

As the crypto market rallies at the start of the week, coins like Dent (DENT) have posted double-digit daily gains with weekly rallies of over 30% or so. But as with every bullish run, a pullback is always around the corner. For DENT, there seems to be a capped upward potential. Here is what you need to know:

  • The coin has rallied by 11% in the last 24 hours

  • Dent is also up by around 30% over the last 7 days.

  • The recent upswing is likely to continue before capping at a crucial resistance.

Data Source: Tradingview

Dent (DENT) – Why is upward momentum capped?

After gaining nearly 30% over the last 7 days, it seems like DENT still has some room to grow. However, we do not expect the coin to truly trend upwards for long. At the moment, DENT is trading at $0.034. There are two important resistance zones to watch. 

The first one is the $0.035 mark, and the second is the $0.41. As of now, it seems like DENT is testing the first resistance zone but is yet to break through. In fact, in 24-hour trading, we saw some significant pullback from the morning sessions, where daily gains dropped from 15% to around 11%.

This could suggest that weakness at $0.35 is coming, and DENT may as well fail to surge past that first hurdle. If indeed this happens, DENT is likely to fall sharply before the end of the week. But if bulls can rally above $0.35, then $0.41 will be next.

Is DENT worth buying?

There is no momentum right now, to be fair. Yes, the coin has pushed up in the last 7 days, but we expect it to trade mostly sideways in the coming days as bulls try to smash past the crucial resistance we have talked about above. It would therefore be better to wait until the price has pulled back slightly.

The post Dent (DENT) may have a capped upside despite the recent rally – Here is why appeared first on Coin Journal.

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DigiByte (DGB) swings 30% up in 24 hours in an extraordinary bullish breakout over the last 14 days

DigiByte (DGB) has surged over the last 24 hours in what appears to be a decisive bullish breakout. The coin has also been rising over the past month and has reclaimed a lot of losses seen this year. But how much momentum does it actually have? More details are below but first, here are some important points:

  • DGB is up around 90% over the last 30 days and over 100% in 14 days.

  • The coin had managed to post 30% gains in 24-hour intraday trading.

  • There however remains a serious risk of a sell-off 

Data Source: Tradingview 

DigiByte (DGB) – Analysis of this uptrend

For the most part of 2022, DigiByte remained largely on a downtrend with a few bursts upwards here and there. But in the last 14 days, it seems the coin has just shot up, gaining nearly 90%. DGD is now testing $0.4. The last time it did this was in June last year.

The $0.4 mark will be a decisive resistance level. We expect investors to start locking in profits at around that price and as such, it is highly unlikely that DGB will cross over. Also, looking at the 3-day chart, the coin is poised for a significant pullback.

While this may not happen in a few days, overall, we expect DGB to be firmly rejected at $0.4 and will firmly fall towards $0.28 in the near term. This will be a downswing of more than 30%. 

Is DigiByte (DGT) worth buying now?

The momentum that DGB has built over the last 14 days is about to slow. The coin is currently at $0.36. We believe the upside based on the chart is capped at $0.4. It wouldn’t, therefore, make any sense to buy now. 

However, please watch the rejection at $0.4. DGB is likely to fall back by at least 30% to around $0.28. This would be the best price to enter once more.

The post DigiByte (DGB) swings 30% up in 24 hours in an extraordinary bullish breakout over the last 14 days appeared first on Coin Journal.

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Filecoin (FIL) could target $35 in major breakout – here is why

Filecoin (FIL) has started the week on a high. The coin is strongly trending upwards and is now targeting to hit $35 in the coming days. The momentum is likely to continue as well in the near term. Here are some of the key facts to keep in mind:

  • Filecoin (FIL) has surged by nearly 30% in the last 24 hours.

  • The coin is poised to hit $35, a gain of nearly 50% from the current price.

  • All momentum indicators also remain positive in the short term.

Data Source: Tradingview 

Filecoin (FIL) – The road to $35

The general trend for Filecoin (FIL) for the most part of this year has been down. In fact, the coin struggled a lot over the past few weeks to rise above $16. But the last week has been quite impressive for FIL. 

The coin not only managed to smash through the $16 resistance, but it has also gone past two other resistance zones. This includes the $20 and $24. FIL is trying to consolidate gains above $25 right now and so far, the bulls have the upper hand. We expect FIL to continue trending upwards over the coming days. 

While it is unlikely it will surge past $35 before the end of the week, the coin will test that zone at least once. When this happens, FIL would have delivered gains of over 50% from the current price.

The long-Term Outlook for FIL

The long-term outlook for Filecoin has always been positive. In fact, conservative estimates are looking at $80 by the end of 2022 as long as sentiment remains strong in the market. 

As for the short term, FIL will trend towards $35 and is likely to settle around $45 in Q2 this year. This will represent a massive surge from the lowest point in 2022. It would also mean that FIL has finally reversed the downtrend.

The post Filecoin (FIL) could target $35 in major breakout – here is why appeared first on Coin Journal.

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Holo Chain (HOT) hits monthly high in the bullish rally – Where does the price go next?

Holo Chain (HOT) has trended strongly upwards over the last few days. The coin has managed to post gains over the last three trading sessions in a row. As such, it has now turned bullish. But how far can it actually rise? We’ll discuss this more but first, some important facts:

  • The recent rally now means that HOT has smashed past its 30-day high

  • The coin has also regained over 50% from its lowest level this year.

  • HOT was also up by around 15% over the last 24 hours

Data Source: Tradingview 

Holo Chain (HOT) – price prediction and analysis

Holo was already surging the past week. New announcements on the ecosystem last week had pushed 7-day gains to over 30%. However, for most analysts, the key to watch during that rally was the overhead resistance of $0.6. 

Based on the price action today, it seems HOT has smashed that threshold. As a result, HOT is expected to keep the uptrend going and is likely to test $0.01 in the near term. This will represent gains of around 50% from the current price now. 

Besides, HOT has also pushed above the average trading price of the last 30 days by over 50%. This indicates that investors are bullish about the coin and the recent gains we have seen are bound to continue. The only way this bullish momentum slows is if bulls fail to keep the price above $0.06.

Why Could Holo Chain (HOT) be perfect?

In the short term, we expect HOT to run a bit further. In fact, gains of at least 30% appear likely in the week ahead. But for long-term investors, the fact that HOT still has a market cap of less than $1 billion means that there is quite some potential. It is likely the coin will hit $0.03 before the end of the year.

The post Holo Chain (HOT) hits monthly high in the bullish rally – Where does the price go next? appeared first on Coin Journal.

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Anthony Pompliano: Bitcoin is destroying stocks this year

  • Pompliano says Bitcoin has shown greater decoupling from stocks and is now positive year-to-date.

  • The Fear & Greed index jumped from “neutral” to “greed” between Sunday and Monday.

  • Nexo and BitBull executives are also bullish about Bitcoin, with $46,000 now a key price level for bulls.

Bitcoin’s breakout over the past few days has included a rally to highs of $48,075 as seen in intraday trades on Monday.

The upside has pushed BTC price into the positive territory year-to-date while showing a greater decoupling from the stock market.

BTC is up, stocks are down YTD

In Pomp Investments founder Anthony Pompliano’s words, “Bitcoin is destroying stocks this year,” even as the “haze” that shrouded the market at the start of the year begins to clear. 

He notes that Bitcoin is up while stocks are down, with the sideways action giving way to fresh gains in BTC that have left equities in the dust.

“We are watching Bitcoin outperform the equities market year-to-date, just like it did last year and just like it’s done over the last decade or so,” the entrepreneur said.

Looking at the S&P 500, we see its year-to-date performance at -4.61%. The Nasdaq Composite is 9.33% down, while the Dow Jones Industrial is -4.45% YTD. Bitcoin, on the other hand, is nearly 4% up year-to-date, with gains since the YTD low of $33k now around 44%.

Fear & Greed index

Pomp also points to the Fear & Greed index and says it’s undergone quite a shift in just a few days.  There’s a lot of buy-side pressure as the “greed” index hits slightly above 60. On Sunday, the metric was around 49 (neutral) and it hovered in the mid-20s last week.

The rally to highs of $48k proves Bitcoin remains the king even when there’s „blood on the streets,“ Pompliano added.

He says Bitcoin continues to show it’s the „ultimate safe haven asset.“

According to the co-founder and managing partner at Nexo Antoni Trenchev, Bitcoin’s rally has seen it test 2022’s peak for the fifth time. With more people likely to “pile” into the market, as a result, it is possible to see further buying propel BTC-USD even higher.

“It might just be time to awaken from the Bitcoin-sideways slumber that’s been 2022,” Trenchev said in a quote Pompliano highlights in his YouTube comment.

Joe DiPasquale, the CEO of BitBull Capital says bulls might now want to see BTC-USD stay above $46,000 to give room for new momentum. “The coming week is also important as it marks the end of the quarter, and we could see increased volatility after that,” he told Pomp.

The post Anthony Pompliano: Bitcoin is destroying stocks this year appeared first on Coin Journal.