Schlagwort: crypto market

Elrond (EGLD) has been sliding down the crypto pecking order. The pressure on the price has pushed the market cap lower. Even though Elrond (EGLD) is still in the top 50, the coin could fall out soon if the current downtrend continues. We think that the downward pressure is far from over but first, some highlights here below:

• After hitting all-time highs of $560 last year, Elrond (EGLD) has spiralled downwards by over 60%.

• Although we saw some recovery at the tail end of 2021, the general trend for the coin has been downwards.

• A look at technical indicators shows that this pressure is not about to end anytime soon.

Data Source: Tradingview.com 

Elrond (EGLD) – Price prediction and analysis

At the time of writing, Elrond (EGLD) was trading at $214.74. The token is up about 5% for the day, but it’s still about 13% down over the last 7 days. Although EGLD has managed to sustain gains above the psychologically important $200 mark, it is still trading lower than its 25- and 50-day moving averages. 

We also noted that the price is lower than the 61.8% Fibonacci retracement. With this in mind, the bearish trend appears to be well in force. Unless the coin is able to rally and break above $245, it is likely that the price action will remain in the red in the near term.

Should you buy Elrond (EGLD)

Well, right now is probably not the best time to buy Elrond (EGLD). But don’t take this the wrong way. This is a very decent coin with the potential to really deliver value for investors in the long run. 

But since we expect the price to remain bearish, it would be best to wait for a further dip and get in on a better discount. Elrond (EGLD) is also ripe for short-term plays, especially for people who want to bet on improved crypto market sentiment.

The post Elrond (EGLD) Is Sliding Down the Crypto Ranking – Here Is Why the Trend Will Continue appeared first on Coin Journal.

The broader crypto market is rebounding today after a choppy start to 2022. As investor sentiment starts to improve, we are likely to see prices recover, consolidate, and surge in the near term. So, what are some of the altcoins to buy? Well, here is some criterion to follow:

• It helps if the coins are backed by strong long-term fundamentals and not hype and speculation.

• These tokens also have a relatively low market cap, suggesting the potential for growth is high.

• Also, the altcoins must be doing great things that will ultimately help increase their value in the long run.

Well, even with the 2022 slump, we still think that the three altcoins below are perfect buys for the year.

Aave (AAVE)

Aave (AAVE) is one of the most promising decentralised finance protocols. The platform is designed to help people lend and borrow crypto assets. At press time, the native token AAVE was trading at around $215.30, up about 6.5% in intraday trading. 

Data Source: Tradingview.com 

AAVE also has a market cap of around $2.9 billion, something that suggests there is enough upside there for more growth in the future.

Cosmos (ATOM)

Cosmos (ATOM) markets itself as an alternative to traditional blockchain networks designed to offer faster speeds, low costs, and scalability. It is one of the most highly rated blockchain projects this year and its native token ATOM is also surging. At the time of writing, ATOM was selling for $39.94, up nearly 8% in 24 hours.

Serum (SRM)

Serum (SRM) is the main decentralised exchange or DEX on Solana. It strives to offer users safe, fast, and secure transactions by leveraging the scalability of the Solana chain. Serum is currently trading at $3.11 with a market cap of $414 million. This makes it a very prime option for investors who would love to unlock its long-term potential.

The post Forget about the 2022 crypto slump: These are still the best altcoins to buy now appeared first on Coin Journal.

Crypto.com (CRO) is simply in shambles. After a massive 7-day rout that saw the token lose nearly 25% in value, CRO is still in the eye of the storm. Any attempts to break the downtrend over the last few days have been met with massive downward pressure. So, what’s next for CRO? Well, here are some highlights.

• CRO has shown some mild bullish signs in the last week but has largely been on a strong downtrend.

• At the time of writing, the coin was trading at $0.4459, up about 1% in 24 hours but still down 22% for the week.

• CRO is facing significant headwinds in the market albeit underlying fundamentals are outstanding.

Data source: Tradingview.com 

Crypto.com (CRO) – price action and prediction

CRO has shown some brief recovery over the last 24 hours, managing to post decent gains after a whole week in the red. But this is very mild and does not suggest anything. In fact, the token is firmly in decline. 

Any breakout can only come once we see a trend reversal around its $0.4224 support. Also, CRO must break past its overhead resistance of $0.4846. At the time of writing, the coin was trading at around $0.4459. 

With increasing bear pressure from the wider market, it is unlikely that CRO will surge past overhead resistance in the near term. In fact, if downside pressure continues, the token could sink to as low as $0.3151.

Should you buy Crypto.com (CRO)

Crypto.com, one of the leading crypto exchanges in the world, has expanded fast in recent years. In fact, the platform is putting more effort to bring institutional traders with deeper pockets into its exchange. 

It is therefore going places and as such, any investor should consider its native CRO token. Crpto.com (CRO) has always been a decent long-term asset to hold. Nothing has changed in underlying fundamentals, so you should definitely buy.

The post What next for Crypto.com (CRO) after a 7-day blood bath? – Price prediction and analysis appeared first on Coin Journal.

After hitting all-time highs in the middle of December last year, Avalanche (AVAX) has been on a downtrend. The coin went from trading at $127 during its December highs to around $80. But we are starting to see some bullish patterns emerge that could push AVAX towards triple digits. Here are some notable highlights:

• AVAX is emerging from the market-wide crypto correction. It was trading at $85.61 at press time, up about 2.3% in 24 hours.

• The altcoin is nearly 30% down from its Mid-December highs, giving dip buyers the chance to swoop in.

• The token still needs to break overhead resistance of around $91.94 to have any chance of surging past $100.

Data Source” Tradingview.com 

Avalanche (AVAX) – Price prediction and analysis

It’s very difficult to predict the crypto market right now. We have seen market-wide volatility and waning sentiment overall. But despite this, there are some good indicators forming for AVAX. 

First, it seems like the token has finally managed to weather the storm of the last 7-day crypto correction. Although it’s still down nearly 30% from December highs, the coin is showing signs of recovery and resilience, surging over 2.4% in 24-hour intraday trading. Nonetheless, the RSI shows some bearish divergence. This indicates that a trend reversal is near, but downside risks still remain. 

Avalanche (AVAX) has also reported some major additions to its ecosystem. In fact, Pollen, one of the main DeFi projects on Avalanche, announced the launch of its native token PLN on AscendEX, one of the leading global crypto exchanges.

Should you buy Avalanche (AVAX)?

Yes, Avalanche is a good buy for long-term crypto investing. For short-term plays, a bullish uptrend appears imminent. So, if you’d like to ride the recovery from the January correction, then it’s the perfect time to get into AVAX. However, be aware of significant downside risks.

The post Emerging bullish pattern could push AVAX past $98 – Price prediction and analysis below appeared first on Coin Journal.

Chainlink (LINK) appears to be establishing an upward trend line that could see it surge towards $33. The coin has in fact been one of the better performers despite the market-wide crypto correction that we have seen over the past week or so. LINK is building this upward momentum, but can it hold? Well, here are some highlights first:

• LINK has managed to retrace its 200-day exponential moving average over the last few days

• The token also shows a bullish crossover of its 20- and 50-day EMAs

• The coin has shown outstanding resilience even with massive downward pressure from the broader crypto market.

Data Source: Tradingview.com 

Chainlink (LINK) – Price prediction and analysis

LINK had shown some signs of recovery after the December Santa rally. The coin was testing its $23.16 resistance at the time. However, even despite massive downward pressure from the broader crypto market, LINK showed exemplary resilience, surging past $23.16. 

At the time of writing, the coin was trading at $26.28 and is firmly testing overhead resistance of around $28.7. When you consider the downtrend we have seen in crypto over the last week, it is clear that LINK has actually done quite well. 

If the coin is able to break past $28.7, we expect it to surge past $33 in the near term. But with sentiment in broader crypto still bearish at the moment, it may take longer for LINK to break that threshold.

Should you buy Chainlink (LINK)

LINK has always been one of the best crypto assets to buy and hold for the long term. The coin right now is heavily discounted. As such, it’s a good time to get in. 

The underlying fundamentals are positive, and the price analysis suggests a short-term rally that could help mask out some of the losses we saw in the last 7 days.

The post Chainlink (LINK) establishes upward trendline despite market-wide crypto correction appeared first on Coin Journal.