Schlagwort: crypto business

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Whale holdings in Cardano (ADA) drop to all-time lows – Should you be worried?

Despite showing strong bullish momentum in the last few weeks, it seems large wallets are not buying Cardano (ADA) as they used to. In fact, we have seen the exact opposite. But what does this mean? Is ADA risking a sell-off? Not exactly. Nonetheless, here are some important facts:

  • Whale holdings for ADA are now at an all-time low

  • But an influx of institutional money in 2022 could help balance the scales

  • ADA remains bullish and is up nearly 35% from its lowest price in 2022.

Data Source: Tradingview 

Cardano (ADA) – Does loss of whale accumulation matter?

Well, at the end of the day, large wallets will have a massive impact on the price action of any coin. In an ideal situation, you would want to have whales holding an asset for longer. That is always a good sign. 

But despite this, it doesn’t seem like ADA has largely been affected by a drop in whale holdings in fact, in the midst of all this, the coin has surged to its best possible price in 2022 and remains well above its yearly lows as well. 

Besides, although whale holdings for ADA are at an all-time low, large wallets still hold a lot of Cardano. At least 83% of all ADA coins in circulation are held by large wallets. So, there is still a long way to go before a drop in whale accumulation starts to have a real impact.

What is Cardano’s long-term outlook?

Cardano still maintains a very positive long-term outlook. Conservative estimates expect ADA to close out 2022 at $4, which will be about 4 times its current price.

In that case, even if whales are dumping some of their ADA holdings, this does not change the fact that the coin could still deliver immense value for investors in 2022.

The post Whale holdings in Cardano (ADA) drop to all-time lows – Should you be worried? appeared first on Coin Journal.

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Aave (AAVE) to continue recent uptrend despite rejection at crucial resistance zone

Aave (AAVE) has ranked among the top 5 best performing major crypto assets in the last two weeks. The coin has been on a major uptrend and in fact, it managed to break above $200 for the first time this year. So, where does the price action go from here? Here are some pointers to keep in mind:

  • After surging towards $230, AAVE appears to have lost its upward momentum.

  • The coin has largely remained in sideways trading for the last two days

  • AAVE was also rejected at the crucial $241.8 resistance level

Data Source: Tradingview 

Can Aave find momentum?

The rejection at $241.8 was a big letdown for bulls who had managed to push AAVE quite high in the last 14 days. In fact, the coin has since retreated and is trading at around $231. We expect bulls to try and breach the $241.8 price in the coming days. 

Although this will be difficult given the current stagnation in the price action, it is not impossible. A break above $241.8 will push AAVE further above $261 before any resistance. This will represent a 15% upswing above the current price.

Despite this, there is still a very big risk of retracement. Remember AAVE has largely trended upwards for the most part of March. A correction is, therefore, due and as such, we could see a strong retracement that takes the coin back to $210. However, if the price action stays above $230, more upside will come.

Why should you consider AAVE now?

We still think that there is a little bit of upward momentum left for AAVE. In fact, a sharp rise toward $260 is still possible. Buying now will therefore give you a chance to make back at least 20% in returns. 

But the risk of retracement on the downside should not be ignored. If bulls cannot keep the price above $230, then you should probably wait for it to fall back to $210 or thereabout before buying.

The post Aave (AAVE) to continue recent uptrend despite rejection at crucial resistance zone appeared first on Coin Journal.

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Filecoin (FIL) could target $32 despite the recent fallback as bulls search for momentum

The last 7 days or so have been quite brilliant for Filecoin (FIL) investors. The coin has surged but in the last few days, it looks like it has slowed. In the last 24 hours, the coin was largely trading sideways. But there are a lot of upsides. Here are some facts:

  • A bull flag has appeared on the daily chart that suggests a strong uptrend

  • FIL could surge past $32 or even higher in the near term.

  • Filecoin has also crossed a major resistance zone over the last 24 hours.

Data Source: Tradingview 

Filecoin (FIL) – Is $32 likely?

The stagnation we saw in Filecoin’s price action appears to be nothing more than consolidation. In fact, during this period, the token managed to cross above $26. This means that the price is now above the crucial resistance zone of $25.9. It will be interesting to see if bulls can sustain this in the days ahead.

However, if we close today’s trading above $26, then FIL is headed for a major upswing. Besides, the bull flag that has appeared on the chart also suggests a strong uptrend. The coin could surge towards $32 before it encounters major resistance. 

If indeed bulls are able to push further above the $32 mark, it is likely that more gains will follow, with FIL hitting $40 in the long run. This will represent gains of nearly 60% from the current price.

Is it time to buy Filecoin (FIL)?

The simple answer is yes. However, it would be best to wait until the end of trading today to see if bulls can keep the $25.9 support. Right now, the price is slightly above that, but it’s consolidating.

If indeed we start tomorrow’s trading above $26, then FIL will be a great buy. You can expect it to hit at least $32 in a worst-case scenario or $40 in the best-case scenario.

The post Filecoin (FIL) could target $32 despite the recent fallback as bulls search for momentum appeared first on Coin Journal.

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Zilliqa’s (ZIL) recent bull run is far from over – Is $0.5 coming next?

Zilliqa (ZIL) is hands down the crypto of the year so far. The coin has recently surged to unimaginable heights. Despite analysts predicting pullbacks, ZIL has continued to show incredible upward resilience. There seems to be more upside for growth too. Here is what you need to know:

  • ZIL has gained over 200% in the last 7 days alone.

  • The coin has however slowed with a 10% pullback in the last 24 hours.

  • It is likely that the uptrend will continue despite slowing in recent days.

Data Source: Tradingview 

Zilliqa (ZIL) – Is $0.5 eve possible?

Surging towards $0.5 will be massive for ZIL. This would mean the coin will have to add another 100% or thereabout from its price today. While it may seem unlikely, for a coin that has surged by 200% in seven days, everything is indeed possible with ZIL. 

Besides, chart indicators show a bullish trend. The fact that ZIL has defied all bearish predictions in recent days makes it a bullish asset. In essence, even people who are not upbeat about it may be forced to buy to ensure they don’t miss out on these gains. 

Because of this, it is likely that more gains will come. The challenge though for bulls right now is the possibility of a majority of folks starting to lock in profit. If this happens, we may see slowed upward momentum followed by a decisive pullback of at least 35%.

How to play the Zilliqa (ZIL) setup?

There are two ways to play out the current ZIL setup. First, it makes sense to buy in and ride a possible surge towards $0.5. But this will depend on how the coin performs in the day ahead. 

In the last 24 hours, ZIL has lost 10%. If such double-digit losses are posted in two consecutive days, then the trade becomes very risky. Secondly, you could wait for the pullback to come and buy then.

The post Zilliqa’s (ZIL) recent bull run is far from over – Is $0.5 coming next? appeared first on Coin Journal.

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Why is Celo (CELO) price rallying today?

Celo (CELO) price has been on the rise today outpacing other crypto assets in the market after most of them failed to maintain last week’s bullish trend.

At the time of writing, Celo was trading at $4.80, up 14.10% after retracing from a high of $5.19 close to a three-month high of $5.22 in the last 24 hours.

Let’s now take a deep dive into the current Celo price uptrend

Why is Celo price rising?

Before we go into details of the rally, it’s important to first explain what Celo is.

Celo is a blockchain system that aims at increasing crypto adoption among smartphone users. It aims at introducing crypto transactions using phone numbers as public keys for crypto transactions even for those who do not have banking access. Celo’s native cryptocurrency is denoted as CELO.

Now onto the reasons behind the Celo price surge.

There are two main reasons for the current hike in CELO price and there are:

1. $20M fund by Celo Foundation announcement for Connect the World fund

One of the main reasons for the price hike is the latest launch of a $20 million fund by the Celo Foundation for a project dupped ‘’Connect the World’’ aimed at improving offramps and onramps to crypto users.

Besides, the Foundation is offering incentives to payment providers integrating its new FiatConnect service. The service will help in the conversion of fiat money into crypto assets.

However, Celo is planning to do things differently from other networks by embracing the mass adoption of crypto sectors like NFTs and DeFi through mobile mobility.

Celo is getting support from Deutsche Telekom with Andreessen Horowitz and some crypto-native firms funding the network.

2. Barcelona’s Celo Connect Conference

The launch of the new fund was made yesterday (Monday) on the first day of Celo Connect, a two days conference held in Barcelona.

With the conference expected to wind up today, it will mainly focus on the layer 1 blockchain ecosystem and more development on the network like the new DAO partnership with PrimeDAO.

The post Why is Celo (CELO) price rallying today? appeared first on Coin Journal.