Tag: altcoins

Solana (SOL) has struggled to report any gains after trading in losses over the last three sessions in a row. The coin now looks very weak, and unless something drastic happens, it’s headed for further decline. Here are some highlights:

• SOL has fallen sharply in the last 24 hours, dropping by almost 10%.

• The coin still remains above a crucial $100 support zone

• But this is unlikely to hold in the coming days

Data Source: Tradingview 

Solana (SOL) – How far can it fall

After surging at the end of March, SOL slowed sharply in April. The coin has fallen from its $140 highs and is now just above the $100 mark. SOL even managed to push below its lowest price in March of $107. This could suggest that we are on the brink of a trend reversal that could see more losses follow. 

In fact, if bulls lose the crucial psychological support zone of $100, then the only way for SOL will be downwards. The $100 and the $93 support zones have proved very strong in the past. While there may be some resilience in the days ahead, the $100 will be lost, and bulls will try to consolidate at $93. 

But if $93 is also lost, SOL will enter an intense downward spiral that could bottom at $77 before any leg up. This will represent a loss of nearly 30% from its current price and almost a 100% decline from its highest price in March.

Is it good to own Solana?

Solana is a big project, and if you don’t have it yet, this would be a nice time to buy it. However, because there is a significant downside risk, you may want to wait for a week or so. 

Based on current indicators on the chart, SOL is likely to bottom. When that happens, you can buy and hold SOL for the future.

The broader crypto market has started the new week the same way it ended last week. Most coins have continued to report losses. But in the middle of all this, Decentralized Social (DESO) appears to be holding steady in fact; the coin is relatively bullish compared to the rest of the market. Here is what you need to know:

• DESO has surged by nearly 10% over the last 24 hours, outperforming the market.

• The coin also remains well above a crucial support zone of $37.5

• But massive whale holdings open DESO to wild volatility

Data Source: Tradingview 

Decentralized Social (DESO) – The price action

As noted above, DESO has managed to outperform the whole market by a mile. As most coins see single-digit drops today, DESO has surged by over 10% over the last 24 hours alone. The coin has now gained nearly 70% from its lowest point in 2022 and looks to keep going. 

Besides, DESO remains above the crucial support zone of $37.50. As long as bulls keep the price action above this, then we could see DESO thrust towards $54 in the near term. The biggest risk factor, however, is massive whale accumulation for this coin.

This makes it prone to wild volatility if big wallets decide to sell. In fact, a scenario where DESO loses the $37.5 support is possible. This could bring massive sell-off pressure and push the price downwards.

Is DESO a profitable asset?

Well, it is and it depends on how you want to play the current setup. DESO may still add at least 20% of its value before it corrects, so there is a short-term play here. This will however depend on whether whales decide to sell or not. 

Also, DESO is fairly decent as a long-term asset. We believe the coin has the potential to touch $100 by the end of 2022, which will be a 100% return.

Kava (KAVA) appears to be showing several bullish signals. This comes even as the coin falls sharply from its recent rally. KAVA is currently looking to consolidate before its next bull run, and this could come sooner than you think. Here are the latest developments:

• KAVA could surge towards $6.68 in the upcoming bull run

• The coin is trading above a crucial support zone of $4.13.

• KAVA is relatively closer to its ATH compared to other altcoins

Data Source: Tradingview 

Kava (KAVA) – Can it hit $6.68

Unlike most altcoins in the market, KAVA has remained very resilient to recent market pressures. For instance, while most altcoins have fallen nearly 90% from their all-time highs, KAVA has done much better, trading about 45% lower than its ATH.

The coin is in a consolidation phase right now. If bulls hold the crucial support of $4.13, we are likely to see a bullish breakout in the near term that takes KAVA closer to the $6.68 mark. KAVA has also bounced back sharply from its 2022 lows. After tanking to around $2.55 in February, the coin has surged over 100% ever since.

We expect this bullish momentum to continue in the near term. KAVA is likely to soar past $5 in the days ahead before consolidating again and testing the $6.68 mark. If this happens, the coin will deliver gains of up to 55% from its current price.

Should you buy Kava?

Well, KAVA looks primed for a decent run in the weeks ahead. This would be the most ideal time to accumulate the coin. However, watch it for a few days.

If bulls are still able to keep the $4.13 support, then you can enter. Exit points should be around $5 and the $6 mark. As for the long-term investor, KAVA holds incredible fundamentals and should be a good addition to your portfolio.

Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. We may receive financial compensation from these third parties. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications. A hyperlink to or positive reference to or review of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services.

Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. contracts for difference (“CFDs”) is speculative and carries a high level of risk. Each investment is unique and involves unique risks.

CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.

Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Past performance does not guarantee future results. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Your capital is at risk.

When trading in stocks your capital is at risk.

Past performance is not an indication of future results. Trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Prices may go down as well as up, prices can fluctuate widely, you may be exposed to currency exchange rate fluctuations and you may lose all of or more than the amount you invest. Investing is not suitable for everyone; ensure that you have fully understood the risks and legalities involved. If you are unsure, seek independent financial, legal, tax and/or accounting advice. This website does not provide investment, financial, legal, tax or accounting advice. Some links are affiliate links. For more information please read our full risk warning and disclaimer.

One of the best ways to make money from crypto would be to target low-cap coins. Now, this does not mean that all low cap projects will go on to make it big. But in most cases, if you want to grow your capital fairly fast, such low cap coins would be just perfect. Here is why:

• A low cap coin often has relatively low value with room to expand.

• Most low cap coins tend to have low coverage by the media and other investors.

• Almost all coins that have delivered 10x or more have often been low cap assets.

With this in mind, it should be the responsibility of any investor to hunt down promising low cap coins and lock them in. Here are 3 options you can consider now:

Base Protocol (BASE)

The Base Protocol (BASE) is basically a crypto asset whose value is pegged on the market cap of the entire crypto industry. In essence, the price action of these coins is based on how the overall market cap of the industry moves. 

Data Source: Tradingview 

BASE is designed to help investors bet on the entire crypto market without having to buy specific coins. It is a very interesting project, and when you consider the market cap right now is around $1.1 million, the potential for growth is massive.

Fetch.AI (FET)

Fetch.AI (FET) is an NFT inspired project that wants to create a robust and social sharing culture. The project is relatively small, with a market cap of around $250 million. With NFTs really heating up, it is likely that FET will see more growth in the medium term.

Augur (REP)

Augur (REP) is a prediction markets aggregator that hopes to create a fully decentralized prediction market community. It has a powerful ecosystem and a stellar team of experts to back it. The project as of now has a market cap of around $140 million.

2021 was seen as one of the best years for crypto assets. Many coins made it big last year, and there was hope that this trend would carry on even in 2022. But the market has stagnated a bit and lost some of the momenta we saw at the end of 2021. But 2022 could still be a big year for crypto investment. Here is why:

• The overall risk in other assets, including equities is now very high.

• Crypto is likely to outperform traditional assets by a huge margin in 2022.

• The crypto market has dipped slightly and should be perfect for value investing.

So, if you are thinking of adding some crypto assets into your portfolio over the coming months, here are 3 coins to consider.

Ethereum (ETH)

A lot of positive things have been happening with the Ethereum (ETH) chain over the last few months. The chain is moving towards a proof of stake consensus that will help enhance scalability and efficiency. 

Data Source: Tradingview 

Ethereum is also expected to report record fees this year as more and more DAPPs flock towards its ecosystem. Considering that ETH has fallen quite substantially from its 2021 highs, it could be a very decent buy.

STEPN (GMT)

Hopes about the rise of the metaverse have been quite substantive over the last few months. 2022 is seen as perhaps the breakthrough year for metaverse tokens and as such, it won’t be a surprise if coins like STEPN (GMT) surge. While there are many other metaverse tokens to watch, this one is a very promising one.

Shiba Inu (SHIB)

Shiba Inu (SHIB) made massive headlines last year with recording-breaking growth. It has since lost a lot of the gains it made in 2021 but this does not mean SHIB is down and out. In fact, it could deliver impeccable gains for investors in 2022 but not as much as we saw last year.

Solana has much better news now and makes for a better buy.

• Solana seems to have recovered from the negativity that followed its 2021 network outages. 

• Waves has been hit by rumors of it being a Ponzi scheme when the market is yet to emerge from the bear trend fully. 

• Solana has better prospects than Waves in the short term. 

Solana (SOL/USD) is a smart platform blockchain that has grown in popularity for its high speed and low transaction speeds. Before the cryptocurrency correction of the last two days, Solana had started outpacing most of the other top 10 cryptocurrencies in gains. This is an indicator that investors are getting more confident in Solana’s future growth after a series of network outages towards the end of 2021. Given the heavy investments that are going into Solana NFTs, Solana’s growth prospects look good. 

Waves (WAVES/USD), on its part, is also a smart contracts platform that has grown in popularity for its use cases in DeFi. A few weeks back, Waves outperformed most cryptocurrencies by a huge margin. Following the sanctions, this followed speculation that it was a Russian project and that Russians would use it to transact and protect against wealth erosion. However, Waves has dropped harder than average in the last few days as fast as it gained. This follows rumors that it could be a Ponzi scheme. 

Which one to buy the dip

While Solana and Waves are high-potential cryptocurrencies and will recover from this dip, Solana has better prospects. One of the reasons why Solana has better odds is that it has a much bigger ecosystem of projects building on top of it. Solana also has a lot more hype, especially among institutional investors, which could play well in its favor as bulls return to the market.

Waves is a much smaller chain and aren’t as well-known as Solana. Besides, after the recent rumors of it being a Ponzi, Waves could take longer to gain traction since the market is highly volatile.

Summary 

Both Solana and Waves are high-potential smart contract blockchains. However, following a negative rumor about Waves, Solana could be a better buy in the short term. This makes SOL a better buy in the current cryptocurrency market dip.

Long-term investments in crypto can help you unlock a lot of value. With increased volatility in the market, it can be hard finding coins that give you the promise of superb long-term growth. But there are a few coins that you can check out. Here is why long term investing in crypto makes a lot of sense:

• Long term strategies help you avoid the hectic daily volatility in crypto

• Many crypto projects will need a year or so for the real value to come

• Holding assets for a year can give you better control of your crypto portfolio.

Well, in case you are searching for coins to invest in as part of a long term investment strategy in crypto, here are some options:

FTX Token (FTT)

The FTX Token (FTT) is the native token of the FTX exchange, one of the largest platforms for trading crypto derivatives and other assets. The FTX exchange has seen a sharp increase in trade volume over the years. 

Data Source: Tradingview

It is also opening up new offices in new regions, including the middle east and others. As long as the widespread acceptance of crypto keeps growing, FTX will see increased trade volume and a lot of value. This makes the coin a good option for a long-term play.

Aave (AAVE)

It is also nice to have some investments in DeFi since this is one area in crypto that will explode in the near term. Aave (AAVE) is a leading DeFi protocol and offers incredible underlying fundamentals. It is one of the projects that is going to fully unlock DeFi, so you cannot afford to miss out.

Gala Games (GALA)

Gala Games (GALA) is hoping to become the go to chain for GameFi. Blockchain gaming is going to also become a huge part of the crypto project. As an investor, getting your money in this space is huge, and GALA gives you the chance to do it.

Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. We may receive financial compensation from these third parties. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications. A hyperlink to or positive reference to or review of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services.

Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. contracts for difference (“CFDs”) is speculative and carries a high level of risk. Each investment is unique and involves unique risks.

CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.

Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Past performance does not guarantee future results. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Your capital is at risk.

When trading in stocks your capital is at risk.

Past performance is not an indication of future results. Trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Prices may go down as well as up, prices can fluctuate widely, you may be exposed to currency exchange rate fluctuations and you may lose all of or more than the amount you invest. Investing is not suitable for everyone; ensure that you have fully understood the risks and legalities involved. If you are unsure, seek independent financial, legal, tax and/or accounting advice. This website does not provide investment, financial, legal, tax or accounting advice. Some links are affiliate links. For more information please read our full risk warning and disclaimer.