Tag: altcoins

Doubling your investment in crypto is not always that hard, especially when you are talking about meme coins like Shiba Inu (SHIB). But for all its glory back in 2021, SHIB has actually fallen sharply this year albeit we saw some recovery at the end of March. But the coin has the potential for doubling your money. You will see why below but first, check out these important takeaways:

• Shiba Inu appears to be sitting within a significant demand zone.

• The coin could break out in a decisive bullish run with 100% gains.

• SHIB also remains above strong support with very low downside risk

Data Source: Tradingview 

Can SHIB actually deliver 2x in the near term?

Yes, the chart appears to show that there is a setup for 100% gains. Right now, SHIB has entered a crucial demand zone of between $0.0000235 to $0.0000263. This has actually happened before in late February, and once SHIB broke, it went on to rally by a huge margin. 

The most conservative estimate will be a 38% upswing this time round. But where will the 100% rise come from? Well, you see SHIB is also sitting above a very strong support zone. This means that the risk of steep corrections is minimal. 

For this reason, it is likely that SHIB will swing by around 40%. After that, a small correction will come where SHIB will pull back slightly before rising again. In the end, it’s conceivable that the price will double in the near term.

Is it time to get SHIB?

Well, Shiba Inu will break out sooner or later. It, therefore, makes sense to start accumulating these coins within this demand zone. 

From a long-term point of view, SHIB remains a bit risker due to uncertainty over long-term investor sentiment. But considering that it has fallen sharply from its 2021 ATHs, it could be a great time to buy the meme coin at a discount.

As we start a brand-new month, the crypto market has looked quite good in recent weeks. Investor sentiment is now very positive, and we are starting to see most coins recover the losses at the beginning of the year. So, April is shaping up as a good buyer’s market, and here is why:

• Most coins have bullish outlooks in the near and medium-term

• The fears surrounding the conflict in Eastern Europe and fed rate hikes are now priced in.

• Investors are ending the wait-and-see attitude and jumping back into the market.

With these factors in mind, we thought it would be great to create a list of possible altcoins that you can consider this April. Here it is:

Hedera (HBAR)

Hedera (HBAR) was one of the top-performing coins in the last two weeks of March. But we have seen a sharp fall ever since. This could suggest that the coin has in fact gone through the correction you would expect after a major rally.

Downside risks are therefore relatively low compared to other coins. For this reason, HBAR is a decent buy for April, and with improved sentiment in the market, it’s only a matter of time before it resumes its bull run.

Waves (WAVES)

Just like HBAR, Waves (WAVES) has also seen a substantial correction after an unprecedented rally. The coin has in fact lost around 46% over the last 7 days. Although this is not always a good sign, it’s still an expected outcome given the kind of rally we saw with WAVES.

Nexo (NEXO)

The good thing about Nexo (NEXO) is the fact that it’s been quite steady in recent weeks. Although the coin has surged upwards, it appears to be consolidating gains, and we have not seen any major sharp fall. This could suggest that there is more potential for more positive gains.

PancakeSwap (CAKE) has shown remarkable strength heading into April. The coin added nearly 60% of its value in the last two weeks or so. If this rise continues, CAKE could in fact flip a crucial overhead resistance zone into support. This will be a huge deal. Here are some of the details:

• CAKE has faced major resistance around $11 as it looks to maintain its upward trend.

• The coin has been rejected severally at that price and has since fallen sharply

• CAKE is likely going to try and target $11 in the coming days.

Data Source: TradingView 

PancakeSwap (CAKE) – Can $11 become support?

If bulls are able to transform the $11 resistance into support, then CAKE has the potential of seeing a major bullish breakout. The DEX coin has tried severally to break past this zone over the last few days but has been rejected firmly. 

As a result, CAKE has fallen sharply in fact, it was down nearly 13% over the last 24 hours. We expect CAKE bulls to try and retest the $11 mark in the days ahead. If indeed they are successful in smashing past it, then we could see the token hit $15 in the near term. 

This will be a gain of nearly 90% from its current price. But if $11 becomes a bridge too far for the coin, CAKE will likely fall back to $8.32 or thereabout before the next bull run.

Should you buy CAKE now?

Well, as a rule, you don’t want to buy any coin when it’s very close to resistance. The downside risks are just very high. A good play here will be to wait and see if the $11 is breached. 

If this happens, then you can buy in and ride the wave. Also, if CAKE is rejected at $11 again, wait for the pullback and enter at $6 or thereabout.

PancakeSwap (CAKE) has shown remarkable strength heading into April. The coin added nearly 60% of its value in the last two weeks or so. If this rise continues, CAKE could in fact flip a crucial overhead resistance zone into support. This will be a huge deal. Here are some of the details:

• CAKE has faced major resistance around $11 as it looks to maintain its upward trend.

• The coin has been rejected severally at that price and has since fallen sharply

• CAKE is likely going to try and target $11 in the coming days.

Data Source: TradingView 

PancakeSwap (CAKE) – Can $11 become support?

If bulls are able to transform the $11 resistance into support, then CAKE has the potential of seeing a major bullish breakout. The DEX coin has tried severally to break past this zone over the last few days but has been rejected firmly. 

As a result, CAKE has fallen sharply in fact, it was down nearly 13% over the last 24 hours. We expect CAKE bulls to try and retest the $11 mark in the days ahead. If indeed they are successful in smashing past it, then we could see the token hit $15 in the near term. 

This will be a gain of nearly 90% from its current price. But if $11 becomes a bridge too far for the coin, CAKE will likely fall back to $8.32 or thereabout before the next bull run.

Should you buy CAKE now?

Well, as a rule, you don’t want to buy any coin when it’s very close to resistance. The downside risks are just very high. A good play here will be to wait and see if the $11 is breached. 

If this happens, then you can buy in and ride the wave. Also, if CAKE is rejected at $11 again, wait for the pullback and enter at $6 or thereabout.

Cronos (CRO) has continued to struggle to maintain its recent uptick in price. There were hopes that finally, the coin would manage to cross past $0.5, but despite bulls pushing it to the limit, CRO failed. The coin is now staring at a possibility of a major correction. Here is what to know:

• The chart shows a serious RSI divergence that could suggest a pullback is imminent.

• CRO was also rejected at $0.5 as upward momentum fizzled out

• The coin has lost around 6% over the last 24 hours, with more to come.

Data Source: Tradingview 

Cronos (CRO) – Why a 15% is plausible

After a steady rise over the last two weeks, off-late CRO has been displaying several bearish technical signals. First, it seems the coin’s upside at the moment is capped at $0.48. In fact, CRO has tried to break above the $0.5 mark five times and has failed. 

It is clear that the coin has no upward momentum right now, and the only way is down. The RSI divergence also suggests that a pullback is going to happen at any time. We expect CRO to retreat towards $0.43 in the days ahead as it tries to generate demand. 

If bulls are not able to push the price back up again, CRO will bottom at around $0.41 or thereabout. However, if the coin can somehow manage to break the $0.5 barrier, then this analysis will become null and void. We do not see this happening though in the days ahead.

Why CRO has struggled past $0.5

So far, the $0.5 mark has proved to be the most difficult overhead resistance for CRO. It is likely that this is basically a psychological barrier. 

Since the coin has failed so many times before to smash past it, most traders would rather take a profit at around $0.5 instead of facing any serious upside risks.

Over the last two weeks, Dogelon Mars (ELON) has reported a sharp recovery from March lows. The coin, like many others in the market, is riding an upward wave of improved investor sentiment. But it seems like ELON is very vulnerable to a major sell-off. Here are the facts:

• After that strong rally over the last two weeks, ELON has now firmly stagnated

• The meme coin has since lost nearly 30% of its value from its highest price in March.

• It is likely the downtrend will continue in the weeks ahead.

Data Source: Tradingview 

Dogelon Mars (ELON) – What to expect

We knew that it was a matter of time before the ELON rally lost a bit of steam. But it seems the meme coin is reversing faster than expected. After surging to $0.0000014, ELON was trading at its highest level this year, and it had managed to smash past several key resistance zones.

But the recent pullback is worrying. For instance, the meme coin has fallen about 30% from its March highs. More worryingly, it has dropped below $0.0000012, an important support zone that bulls couldn’t hold.

At the moment, it looks like the price is consolidating with very modest losses in the last 24 hours. If bulls are able to find enough demand, $0.0000012 will be the next target. Failure to cross over that price will mean another pullback will be likely.

How to play Dogelon Mars (ELON)?

Meme coins are very tricky because they can swing up and down very fast. But for ELON, there is a short-term play here. So far, the coin has fallen below $0.0000012. 

If somehow bulls can take the price above that, then you should consider buying. ELON will add at least 35% of its value above that resistance before any pullbacks. But for now, there is just too much risk to buy right away.

As trade volume for Quantstamp (QSP) fell sharply over the last two days, the price action has somewhat slowed. It seems like the coin is trying to consolidate the gains made over the last week before trying to rise again. But how far can it really go? Well, we’ll discuss this further but first, here are the latest developments:

• QSP is up nearly 83% from its lowest price in 2022.

• The coin is also trading well above its 25- and 50-day moving averages

• Despite this, Quantstamp is still facing major resistance before breaking to $0.1

Data Source: Tradingview 

Quantstamp (QSP) – The road to $0.1

The biggest threat for QSP bulls is the fact that the coin has actually rallied after hitting its lows this year. In fact, the price is almost double its lowest level in 2022 and as such, QSP may be ready for a correction. Despite this, other indicators appear bullish. 

For instance, QSP is now trading above its 25- and 50-day SMAs. This indicates an important bullish alignment. Also, the coin has consolidated gains in recent days, something that suggests people are not selling. What remains now is for bulls to try and smash the $0.078 resistance zone. 

QSP is still a bit further away from that. However, if the price action pushes above that zone, then $0.1 will be the next stop. As a result, QSP could offer an upswing of about 45% from its current price.

Quantstamp (QSP) – Should you go short or long?

As a long-term asset, Quantstamp is actually a very decent buy. The coin has incredible underlying fundamentals and should be perfect. But there is also a very good short-term play here that can lead to very good gains. 

$0.078 is the key, and If QSP manages to smash that, then there is enough upside to deliver at least 30% in additional gains.

Terra (LUNA) pulled back slightly at the end of this week after seeing quite some sustained gains. The coin however still has a lot of room for growth and we expect it to show some decent uptrend in the weeks ahead. Here is what to keep in mind:

• Terra (LUNA) is likely going to hit $150 in the near term.

• The coin has positive momentum indicators despite the recent pullback.

• A surge to $150 will represent nearly 40% of gains from the current price.

Data Source: Tradingview 

Terra (LUNA) – Why $150 is not surprising

The recent rally we saw in crypto over the last two weeks brought back hope that perhaps investor sentiment had turned positive. But there were some concerns that we may see a bigger pullback in major coins, including LUNA. However, this did not happen. In fact, after pulling back slightly on Friday, LUNA and most other coins regained upward momentum.

Also, since the start of March, LUNA has set three higher highs and the same number of higher lows as well. But it is the upper trend line on the chart that looks very interesting. 

While there is a chance the coin may turn bearish given the rising wedge between higher lows and higher highs, because of the current bullish momentum, we expect LUNA to break the upper trend line. This will then lead to massive gains that could see the coin surge past $150 in a few weeks.

Is it the right time to buy Terra (LUNA)?

For short-term traders, the current setup is somewhat a bit risky, but it offers the possibility of 50% gains. The perfect entry price would be around $105. Hold it out and exit at $150.

As for long-term investors, buying now gives you a chance to enjoy a decent uptick in your holdings as LUNA heads up in the near term.

Harmony (ONE) enjoyed a decent week. The coin managed to report double-digit gains but despite this, it failed to cross over a crucial resistance zone. However, we expect the coin to regain momentum and push further upwards. Here are some of the most important developments:

• Harmony has faced crucial resistance at $0.18 in the last 7 days.

• ONE was rejected several times at that threshold and has since pulled back.

• It is likely the coin will retest that zone again this week and smash it in the process.

Data Source: Tradingview 

Harmony (ONE) – how it will get to $0.27

There is no doubt that the crypto market is now turning bullish. After a very difficult period at the start of the year, it seems most coins have managed to recover, and the only way is up. However, although Harmony has gained considerably, the coin has been rejected firmly at its 200-day SMA of $0.18. 

As a result, ONE appears to have lost a bit of the upward trajectory. However, looking at the price action today, the coin was consolidating at $0.16. It is likely that ONE will finally break past $0.18 in the week ahead. 

Once this happens, bulls will be in full control and are likely to take the coin towards $0.27 before any pullback. This represents an upswing of nearly 70% from the current price.

Why you should consider Harmony (ONE)

Even with the recent gains, ONE still remains nearly 60% from its all-time highs of $0.38. But the bullish momentum we are seeing in the market right now makes the coin a decent buy for both short-term plays and long-term ones. 

The key will be to watch how long it takes for ONE to cross $0.18. Once this happens, then expect a decisive uptrend that will deliver double-digit gains easily in the near term.

Metaverse tokens have had a torrid period in recent weeks. Sandbox (SAND) is one of the leading coins in this category, bottoming at around $2.55 not so long ago. But there has been quite some recovery ever since. Here are the key highlights of the last week or so:

• Sandbox continues to build significant upward momentum in the recent rally.

• The coin could target $4.4 in the coming days if current trends hold

• A run towards $4.4 will deliver gains of up to 30% from the current price

Data Source: Tradingview 

Sandbox (SAND) – Is $4.4 likely?

There has been a lot of good news coming from Sandbox (SAND) in the last few days. One notable development has been a new partnership with HSBC, one of the biggest banks in the world. There has also been a massive flow of institutional money towards SAND. 

These positive developments have also been reflected in the price. After bottoming at $2.55 at the end of January, SAND has rebounded. It has rallied by nearly 40% from its lowest level this year, and it looks like this upward trajectory will last even longer. 

First, the RSI on the chart is showing a bullish trend. SAND is also well above its 55-day SMA and has managed to breach a crucial resistance of $3.44. As a result, we expect the coin to surge towards $4.4 in the near term. If bulls are able to smash past $4.4, then we could see SAND test $6.2 and even $7.4 in the medium term.

Why are investors holding Sandbox (SAND)

There are several reasons. First, SAND has incredible bullish momentum right now and as such, opportunities for a decent return in the near term are high. 

From a longer-term perspective, metaverse coins are expected to grow further this year. SAND is one of the main coins in that category and as such, it makes sense to hold it for longer.