Schlagwort: crypto business

Tezos (XTZ) is one of those coins that seems to have really come from the brink. The coin slumped massively in January, at a point even hitting its six-month low. But after the decent rally that we saw at the start of the month, things are looking gloomy for the coin. Here are some facts:

• Tezos (XTZ) is up over 80% from its lows in January this year.

• At press time, the coin was down around 7% and was trading at $2.98.

• It doesn’t seem like there is enough bullish momentum to take XTZ further in the near term.

Data Source: Tradingview 

Tezos (XTZ) – Price prediction and analysis

As noted above, the recovery that we saw on Tezos (XTZ) over the last few weeks has been impeccable. The coin has come from six-month lows to report gains of over 80%. At one point, Tezos was even testing $5. 

But as the crypto market continues to see more weakness due to increased tensions in Europe, Tezos (XTZ) has pulled back significantly. In fact, the coin has lost nearly 26% in the last 11 days and has fallen below a crucial support zone of $3.2. 

This suggests that there will be more weakness in the days ahead. At press time, XTZ was trading at $2.99. The key right now is to watch whether bulls can push the price above $3.2. But this only happens when we start to see more volume in the market.

Should you buy Tezos (XTZ)?

Tezos (XTZ) is a smart contracts platform that is designed to offer better, more efficient operations than Ethereum. So far, the project has seen increased investor interest and is rated among the most promising chains in the market right now. 

It is indeed a very good asset to put in your portfolio, especially when you consider that the market cap is still at $2.6 billion.

The post Tezos (XTZ) is up nearly 80% from January lows – Is there enough momentum for growth? appeared first on Coin Journal.

Broader weakness in the crypto market has been quite evident over the last week or so. As a result, we are starting to see Algorand (ALGO) forming a bearish pattern that could lead to a massive price correction. Here are some highlights:

• At press time, Algorand (ALGO) was trading at around $0.81, down 5% for the day.

• The $0.8 mark has proved to be a crucial support line but we expect ALGO to fall below that.

• When this happens, the coin could push towards $0.5 in the near term.

Data Source: Tradingview 

Algorand (ALGO) – The coming 40% correction?

There is no doubt the broader crypto market has seen a lot of weakness in recent days. Algorand (ALGO) has also followed suit. After a more robust performance at the start of the month, the coin is now on the decline. 

The $0.8 mark remains one of the key support zones. Although bulls have done well so far to maintain the price action above this, we don’t expect ALGO to hold out for much longer. As a result, the coin could fall to $0.5 before we start to see any signs of a trend reversal. 

This will represent a correction of nearly 40%. However, if bulls can somehow manage to send ALGO above $0.9, the bearish outlook may abate in the foreseeable future. At press time, the coin was trading at $0.81.

Is it the right time to buy Algorand (ALGO)?

Well, most coins right now are trading lower, so if you are a dip buyer, this would be the time to come in. But when you consider that more weakness is projected on Algorand (ALGO), it would be more prudent to sit out for now and wait for the price to decline further. At least that way, you get minimal downside risk and a discount when you decide to buy.

The post Algorand (ALGO) price analysis – Why a 40% correction is coming? appeared first on Coin Journal.

The initial climb by Uniswap (UNI) earlier in February appears to be evaporating. It’s been day after day of losses for the DEX, and there are signs that the bleeding will continue in the coming days. But how far can bears take the price action? Here are some highlights:

• Uniswap (UNI) could crash to $5 before it finds its next leg up
• The coin was trading at around $8.74, down by nearly 7% in 24 hours at press time.
• The price action is within a crucial demand zone but so far bulls are staying off.

Data Source: Tradingview 

Uniswap (UNI) – why a crash to $5 is likely?

As noted above, UNI has entered a crucial demand zone. Looking back at the chart, every time the token has entered the range of between $ $7.31 and $9, bulls have come in and bought in huge numbers. We are not seeing that right now.

In fact, even though at present UNI is trading at around $8.74, the bearish trend appears to be holding steady. We are watching to see if there will be any bullish activity in the coming days.

If indeed, UNI is able to generate demand and push back above $10, it could suggest more gains. But with sentiment in the market largely fearful, we don’t expect this to happen. Instead, UNI could slip below its demand zone and eventually settle at $5 in the coming days.

Is Uniswap (UNI) still a good investment?

The dip in crypto prices is a sign that perhaps this may not be as much of a smooth year as 2021. But even then, the long-term outlook on Uniswap (UNI) still remains very positive.

In fact, if indeed the coin drops to $5, get it. Even if you don’t end up holding for long, there is a chance the downward trend will reverse, and UNI will be back to double figures in no time.

The post Uniswap (UNI) could crash to $5 in the coming days – Here is why appeared first on Coin Journal.

In 2021, NFTs or non-fungible tokens simply exploded. We saw unprecedented NFT sales, and there is no doubt this is a subsector of the crypto market that is worth noting. Here are some of the reasons why:

• NFTs can be great stores of wealth when the market is slumping.
• Many exciting new projects in NFTs keep coming out regularly.
• There is hope that NFTs will also boom with the rise of the metaverse.

Well, if you ever wanted to invest in the future of NFTs, there are a few new and exciting projects you can consider. Here is the full list.

FTX Token (FTT)

FTX Token (FTT) is one of the leading crypto exchanges in the world. It is geared for the daily trader thanks to its wide range of derivative products. However, over the last few hours, FTX announced a new initiative that will see increased investment in gaming and NFTs.

Data Source: Tradingview 

In fact, the platform is looking to make NFTs widely adopted across the world not just as a store of value but also as a unique asset class within crypto.

Crypto.com (CRO)

Crypto.com (CRO) is not what you would call a new NFT based project. It is in fact one of the oldest exchanges in the world. But just like FTX, Crypto.com has also been making incredible moves in the NFT space.

The launch of a dedicated NFT marketplace as part of the CRO ecosystem is one of these moves. We expect the crypto.com NFT platform to grow and deliver immense value in the near and long term.

Chiliz (CHZ)

Chiliz (CHZ) is one of the leading sports entertainment blockchains behind the many fan tokens we have seen with football clubs in Europe. The platform is also spending a lot of resources on building a broad NFT platform for sports memorabilia and other items. It is worth watching in the coming months.

The post These are the best NFT crypto projects to watch out for in February appeared first on Coin Journal.