Schlagwort: crypto business

Audius (AUDIO) has finally managed to break its downtrend, rallying 20% as sentiment on the broader crypto market improves. The surge has however lost some of its momentum but it is still holding steady. At the time of writing, the token was trading at $1.9, up nearly 5% in intraday trading. Here are some of the highlights:

• Although the token has surged, it is still trading at nearly 70% down from its 2021 all-time high

• The token was also down nearly 30% in December, and the recent surge only serves to repair some of these losses

• Despite these headwinds, Audius (AUDIO) is still 1000% up year to date

Data Source: Tradingview.com 

Audius (AUDIO) – price action and analysis

The recent crypto correction we saw during much of December had a huge toll on Audius (AUDIO). The token saw slumps of nearly 30% this month, but it has managed to repair some of those losses. AUDIO has also pushed beyond its 50-day moving average of around $1.68, suggesting an uptrend is starting to gather steam. 

The next challenge would be to roar above the 100 and 200 daily moving averages of $2.047 and $2.125 respectively. So far, the token is testing the 100 DMA but is yet to make any decisive break. This could suggest that the bullish breakout that saw the token gain 20% is losing momentum.

Should you buy Audius (AUDIO)

From just fundamental analysis alone, there is no doubt Audius (AUDIO) is a decent investment for long-term value. But the price action in recent months has been quite volatile. 

Even with this recent surge, we don’t see Audius (AUDIO) breaking beyond its 100 and 200 DMAs. So, even though in the long term there is a lot of value to unlock, in the short term it’s very risky at the moment.

The post Audius (AUDIO) breaks bearish trend to rally 20% in a few days – should you buy appeared first on Coin Journal.

The broader crypto market has seen some consolidating gains this week after a slumpy December. VeChain (VET) has followed major coins like Bitcoin and Ethereum to report gains. In fact, since the start of the week, VeChain (VET) has been up nearly 25%. The coin was also up nearly 5% in intraday trading today. But can this uptrend hold? Here are some highlights first:

• VeChain (VET) has been one of the best performing altcoins in the last 7 days, with gains of up to 25%

• Despite this, the coin is still 50% lower compared to its highs in November and 65% down from its yearly highs.

• Relative Strength Index (RSI) shows bullish momentum is picking up, albeit buying activity is not that intensive.

Data Source: Tradingview.com 

VeChain (VET) – Price action and prediction

The recent weekly gains appear to have pushed VeChain (VET) back into a bull trend after spending the most time in the red this month. Right now, the coin has surged beyond its 50-day simple moving average. We are also looking at a very positive RSI with bullish activity expected in the near term.

VeChain (VET) still has to cross over $0.0963 for any breakout to be seen. At the time of writing, the coin was a bit below that resistance with a price of $0.09174. It is also important to note that VeChain (VET) is still over 65% below its all-time highs this year. It’s highly unlikely the coin will test those numbers again in 2021.

Should you buy VeChain (VET)

VeChain (VET) at one time had peaked to a market cap of nearly $16 billion, showing that it sparked a lot of confidence from investors. The coin has since lost nearly $10 billion in market cap ever since but despite this, the long-term fundamentals are still very good for VET. For folks who just want to buy and hold, it is a decent asset.

The post VeChain (VET) sees liftoff after broader crypto market sees gains – Can it hold the momentum? appeared first on Coin Journal.

The downtrend for Crypto.com (CRO) over the past few weeks has been quite consistent. The coin was mostly trading slightly lower or above its support of $0.5. Bearish momentum also looked likely to hold till year-end, but a sudden resurgence is bringing back some positive outlook in the near term. At the time of writing, the coin was up nearly 15% in intraday trading. Here are some highlights:

• Despite a consistent downtrend in recent weeks, CRO appears to have snapped out decline with a 15% surge in intraday gains.

• However, the coin is still facing overhead resistance at $0.63 and must sustain today’s gains to cross over that threshold.

• The long-term outlook for CRO remains extremely positive despite recent downtrends and headwinds.

Data source: Tradingview.com

Crypto.com (CRO) – price action and analysis

At press time, CRO was trading at $0.64. This was nearly 15% higher in intraday trading, but most importantly, the coin had managed to break slightly above its overhead resistance of around $0.63. 

Also, the latest price action shows that CRO has surged well over its 50-day moving average, something that could suggest a reversal of the bearish trend we have seen for most of December. 

However, whether the coin can sustain these gains and build up some decent momentum in the near term depends on sentiment across the broader crypto market. If bearish trends swipe through, they will weigh heavily on CRO, eventually pulling it closer or below the $0.5 support.

Should you buy Crypto.com (CRO)

Crypto.com (CRO), one of the leading crypto exchanges in the world, has been making quite some moves this year. The platform has signed multiple endorsements, and advertisement deals with several sports brands in a bit to attract more users. Crypto.com is also doing very well with NFT trading. It’s a good long-term buy, no doubt if fundamentals are anything to go by.

The post Should you buy Crypto.com (CRO)? price action and analysis to follow appeared first on Coin Journal.

Cosmos (ATOM) is seeing a bullish breakout in intraday trading, surging over 10% in the last 24 hours. The coin, at the time of writing, was trading at $29.09. Analysts see resistance around $30.76, and it seems ATOM is struggling to break that threshold. But it’s still consolidating, and with the current momentum, the coin is likely to add up to today’s intraday gains. Here are some highlights to note:

• Cosmos (ATOM) is currently trading above its 200-day simple moving average, a positive outlook on its trend.

• ATOM is facing overhead resistance of around $30.76, and despite the 10% surge, its yet to break above that price

• Nonetheless, the coin is above the 20, 50, and 200-day simple moving average, a bullish alignment that will see more growth.

Data Source: Tradingview.com 

Cosmos (ATOM) – price action and predictions

Most momentum indicators on ATOM appear to suggest a bull run is well and truly underway. As noted above, the coin is trading above three key SMAs, a sign that buyer activity is high. Also, the relative strength index shows a bullish resurgence. 

In fact, many analysts see the RSI pushing ATOM above its $30.76 resistance, something that could trigger a sustained uptrend or price consolidation around $30. Besides, the coin has largely traded around daily highs today, something that suggests a reversal of this bullish uptrend is unlikely in the near term.

Should you buy Cosmos (ATOM)

Cosmos is an innovative blockchain project designed to give the industry a better alternative to the more expensive and energy-consuming proof-of-work networks. Ever since its launch in 2016, the chain has earned praise and admiration across the board. It is here to stay in fact, Cosmos is expected to be a major player in the blockchain ecosystem in the long term. So, for long-term value investors, it is a great buy.

The post Cosmos (ATOM) is up over 10% in 24-hour bullish breakout – price analysis and prediction appeared first on Coin Journal.