Schlagwort: crypto business

After a very bad start to 2022, crypto coins have started to really show some outstanding rallies. In the last week of March, most coins have closed well in the green, and the momentum could go on further. Here is why coins are rallying:

• A period of uncertainty with regards to Fed rate hikes has now gone.

• Many investors who were sizing up the market are starting to come back.

• Institutions are looking at crypto as a diversified asset pool to hedge against equities.

In the midst of this rally, there are some coins that have done way better than we expected. Here are some of them:

Ethereum Classic (ETC)

As the shift from the Ethereum Proof of work model continues to near, we did see some remarkable shift among Ethereum miners towards ETC. In fact, at one point the coin rallied by nearly 70% in a week. 

Data Source: Tradingview 

As of now, ETC appears to have erased the losses made this year and the uptrend is still strong. Although there was always some positive outlook around the coin, many analysts did not expect it to recover as fast as it did. We expect more gains to follow in Q2 this year.

Convex Finance (CVX)

DeFi has always been a huge part of the future growth of crypto. 2021 was the breakthrough year of DeFi, and there was a lot of optimism that we were going to see more and more success in 2022. But DeFi coins failed to impress, and Convex Finance (CVX) saw massive falls from ATHs as a result. But the DeFi space is rebounding, and CVX is up 50% for the week.

Zilliqa (ZIL)

Imagine a 150% surge in less than a week? ZIL appeared to be down and out a few weeks ago, and it was struggling to find any momentum. Although there was some hope it will finally recover, the fact that it has done so in a week or so simply boggles the mind.

The post Tracking the crypto rally: 3 coins that have surprised us appeared first on Coin Journal.

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.

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.

VeChain (VET) has been one of the main crypto performers of the past week. Although the broader market has seen significant gains, VET has surged by a whopping 54%. But how sustainable is this uptrend? More analysis in the post but here is what you need to know first:

• VET has trended upwards for the last several days and was up nearly 15% in the last 24 hours.

• The coin however faces significant overhead resistance at $0.9.

• VET has broken out from its 50-day EMA, suggesting bullish momentum.

Data Source: Tradingview 

VeChain (VET) – Is the uptrend sustainable?

A 54% push in just 7 days is no easy feat. VET has however been on a steady rise for several days. For most bulls, the key was the breakout above the 50-day EMA which appears to have triggered a significant rally. Despite this VET still remains lower than its 200-day EMA of around $0.9. This will prove to be a massive resistance level. 

So far, the coin is yet to test that threshold. Even though VET has surged by nearly15% today, its price remains at around $0.7, marginally lower than $0.9. 

For now, though, it seems like the trend is breaking upwards. We have seen VET post double-digit gains over the last two days. It is likely that the coin will once again repeat this in the two days ahead. This will push the price action well above the 200-day EMA, something that in turn will lead to a decisive bullish run.

Should you enter veChain (VET) now?

The break above the 50-day EMA was the sign for bulls to enter. It’s still not too late from a short-term point of view. VET is likely to rise in the days ahead. Also, from a long-term point of view, the fundamental value of veChain is quite incredible as well. It’s worth your investment.

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