Tag: altcoins

As the crypto market rallies at the start of the week, coins like Dent (DENT) have posted double-digit daily gains with weekly rallies of over 30% or so. But as with every bullish run, a pullback is always around the corner. For DENT, there seems to be a capped upward potential. Here is what you need to know:

• The coin has rallied by 11% in the last 24 hours

• Dent is also up by around 30% over the last 7 days.

• The recent upswing is likely to continue before capping at a crucial resistance.

Data Source: Tradingview

Dent (DENT) – Why is upward momentum capped?

After gaining nearly 30% over the last 7 days, it seems like DENT still has some room to grow. However, we do not expect the coin to truly trend upwards for long. At the moment, DENT is trading at $0.034. There are two important resistance zones to watch. 

The first one is the $0.035 mark, and the second is the $0.41. As of now, it seems like DENT is testing the first resistance zone but is yet to break through. In fact, in 24-hour trading, we saw some significant pullback from the morning sessions, where daily gains dropped from 15% to around 11%.

This could suggest that weakness at $0.35 is coming, and DENT may as well fail to surge past that first hurdle. If indeed this happens, DENT is likely to fall sharply before the end of the week. But if bulls can rally above $0.35, then $0.41 will be next.

Is DENT worth buying?

There is no momentum right now, to be fair. Yes, the coin has pushed up in the last 7 days, but we expect it to trade mostly sideways in the coming days as bulls try to smash past the crucial resistance we have talked about above. It would therefore be better to wait until the price has pulled back slightly.

DigiByte (DGB) has surged over the last 24 hours in what appears to be a decisive bullish breakout. The coin has also been rising over the past month and has reclaimed a lot of losses seen this year. But how much momentum does it actually have? More details are below but first, here are some important points:

• DGB is up around 90% over the last 30 days and over 100% in 14 days.

• The coin had managed to post 30% gains in 24-hour intraday trading.

• There however remains a serious risk of a sell-off 

Data Source: Tradingview 

DigiByte (DGB) – Analysis of this uptrend

For the most part of 2022, DigiByte remained largely on a downtrend with a few bursts upwards here and there. But in the last 14 days, it seems the coin has just shot up, gaining nearly 90%. DGD is now testing $0.4. The last time it did this was in June last year.

The $0.4 mark will be a decisive resistance level. We expect investors to start locking in profits at around that price and as such, it is highly unlikely that DGB will cross over. Also, looking at the 3-day chart, the coin is poised for a significant pullback.

While this may not happen in a few days, overall, we expect DGB to be firmly rejected at $0.4 and will firmly fall towards $0.28 in the near term. This will be a downswing of more than 30%. 

Is DigiByte (DGT) worth buying now?

The momentum that DGB has built over the last 14 days is about to slow. The coin is currently at $0.36. We believe the upside based on the chart is capped at $0.4. It wouldn’t, therefore, make any sense to buy now. 

However, please watch the rejection at $0.4. DGB is likely to fall back by at least 30% to around $0.28. This would be the best price to enter once more.

Holo Chain (HOT) has trended strongly upwards over the last few days. The coin has managed to post gains over the last three trading sessions in a row. As such, it has now turned bullish. But how far can it actually rise? We’ll discuss this more but first, some important facts:

• The recent rally now means that HOT has smashed past its 30-day high

• The coin has also regained over 50% from its lowest level this year.

• HOT was also up by around 15% over the last 24 hours

Data Source: Tradingview 

Holo Chain (HOT) – price prediction and analysis

Holo was already surging the past week. New announcements on the ecosystem last week had pushed 7-day gains to over 30%. However, for most analysts, the key to watch during that rally was the overhead resistance of $0.6. 

Based on the price action today, it seems HOT has smashed that threshold. As a result, HOT is expected to keep the uptrend going and is likely to test $0.01 in the near term. This will represent gains of around 50% from the current price now. 

Besides, HOT has also pushed above the average trading price of the last 30 days by over 50%. This indicates that investors are bullish about the coin and the recent gains we have seen are bound to continue. The only way this bullish momentum slows is if bulls fail to keep the price above $0.06.

Why Could Holo Chain (HOT) be perfect?

In the short term, we expect HOT to run a bit further. In fact, gains of at least 30% appear likely in the week ahead. But for long-term investors, the fact that HOT still has a market cap of less than $1 billion means that there is quite some potential. It is likely the coin will hit $0.03 before the end of the year.

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.

The crypto market, in general, has steadied after a very volatile period during the start of 2022. Analysts are now focusing on long-term outlooks, and one coin that has grabbed the attention of everyone is Kava (KAVA). Could it actually hit $40 by year-end? Here is what you need to know:

• Short term volatility has put a lot of pressure on KAVA

• Hitting $40 will mean that the coin needs to grow 10X from its current price

• While this looks farfetched, it is not entirely impossible

Data Source: Tradingview 

Kava (KAVA) – The road to $40?

At the moment, KAVA is trading at around $3.89. Based on the performance of the crypto market over the last three months, it’s hard to imagine that KAVA could grow 10x before the year is out. But it’s actually not that hard to imagine. 

There are several reasons for this. First, Kava is adding EVM support. The move will make it interoperable with ERC 20 tokens. This is likely going to push more DeFi projects into the network. Also, EVM support means that apps already built for Ethereum can be deployed on Kava. 

In addition to this, it seems like the sentiment in the market is actually looking better than it did three months ago. Investors have started to price in the economic and geopolitical factors at play. As the broader market surges, KAVA could still follow. Despite this, we still think there are so many downside risks that will make the $40 dream very hard to achieve.

Is Kava (KAVA) worth the risk?

Kava is a great project and has been for the last few months. It has simply suffered from the general trend in the market. But its long-term value still remains very high. The fact that it’s adding more interoperability into its system is a big deal. Even if it doesn’t hit $40, it could still offer 3x or 4x growth.

After seeing gains over the past few trading sessions, Terra (LUNA) has stagnated and is starting to pull back. We have also seen the price action hover around a very tight range. We may see a small correction in LUNA in the near term. Here are some of the facts:

• After surging for a few days, it is likely investors will take profit.

• Failure to clear above $90 at the start of trading Monday could suggest weakness.

• The relative Strength Index also shows a bearish outlook in the days ahead.

Data Source: Tradingview 

How far can Terra (LUNA) drop?

We are not looking at a huge drop here. In fact, in the last 24 hours, the stablecoin platform had lost around 1%, but more will come. The key will be to look at the $90 mark. This had always proved to be a key support zone for LUNA. 

If at the start of trading on Monday the coin is well below that, then we could see a wipeout of at least 15% before the end of the week. Besides, there is a trend in this volatile market over the last few months to note.

You see, in most cases, bullish momentum is driven by short-term speculative traders. It is likely they will lock profit at $90. This is going to trigger a mini sell-off that could push LUNA further towards $75.

Is Terra (LUNA) worth your time?

Well, the fact that Terra (LUNA) is among the top 10 crypto assets in the market means that you should give it your attention. But it doesn’t seem like there is any serious upside momentum right now. 

A good play will be to wait for the correction to come through in the coming days and then buy at $75 or thereabout. But short sellers can also play the short-term decline for a profit.

There are a lot of ways to make money in the crypto industry. While buying crypto assets and holding them for capital appreciation is the most common, it is actually possible to earn very good annual yields with staking and yield farming. Here is why yield farming makes sense:

• It helps to preserve your capital for a longer time.

• You can earn yields while your crypto assets appreciate in value.

• Yield farming is available in almost all blockchains out there.

With that said, if you are trying to find some decent opportunities for yield farming, we have a list here below that can be perfect for this:

Uniswap (UNI)

Uniswap (UNI) is the biggest decentralized exchange on the Ethereum chain. It requires a lot of liquidity and as such, users can stake their crypto assets and earn yields from these liquidity pools. 

Data Source: Tradingview 

The great thing about Uniswap is that it offers the best returns of any staking and yield farming program. We are talking about annual yields of between 20 and 50%.

PancakeSwap (CAKE)

PancakeSwap (CAKE) has also been doing a very good job of offering decentralized exchange services using liquidity pools. It’s more or less like Uniswap. But its yields are just crazy. Users can earn between 8% to as high as 250% for staked assets. The range is huge no doubt but even 8% a year is not that bad.

Cranos (CRO)

Cranos (CRO) was formerly known as Crypto.com. It is one of the main crypto exchange platforms in the world, with trade volumes in the billions of dollars. The change to Cranos however reflects the direction that Crypto.com wants to take. 

In a nutshell, the goal is to bring more DeFi features into its ecosystem. But in case you would want to make a decent and long-term income here, the staking and yield farming program is quite impressive. Users can earn up to 15% in yields each year.

It seems like the crypto market is starting to find its legs again. After ups and downs over the last three months, we have seen sustained periods of consolidation. Positive investor sentiment is starting to come back. So, here is what to expect:

• A lot of coins are likely to go on decent bull runs

• Pullbacks will come of course, but the general trend will be up.

• Risks however still remain, including high inflation and conflict in Europe.

For investors looking for bullish cryptos, there are a lot to choose from. But we decided to pick out three of the best.

Ripple (XRP)

Ripple (XRP) has had its issues this year. The coin was in the middle of a big lawsuit with the Securities and Exchange Commission or SEC. Because of this uncertainty, a lot of investors were staying away from XRP. 

Data Source: Tradingview 

The coin has therefore remained highly undervalued but in the last few weeks, it seems like the SEC case is now starting to go away. XRP has therefore remained bullish and could surge very strongly in the near and medium-term. In fact, we are likely to see the unlocked potential of XRP come to the fold.

ThorChain (RUNE)

A lot of positive ecosystem news has been coming out of Thorchain (RUNE) over the last week or so. The coin has also managed to snap out of the February downtrend and is gaining quite a lot. In fact, RUNE is up 20% in the last 7 days. The trend will continue in the near and long term.

Convex Finance (CVX)

Convex Finance (CVX) is one of the most promising DeFi projects in the market. The project is actually up by around 30% for the week. As the DeFi revolution continues to expand, coins like CVX are likely to get more demand. This will eventually push the price action higher and higher.

Metaverse and gaming tokens have not had an easy March. The tokens have lost massively from 2022 highs. But it seems the month could end on a high. Axie Infinity (AXS), one of the leading gaming and metaverse tokens in the world, has been surging in recent days. Here are some details:

• AXS has gained over 20% over the last 24 hours or so.

• The move came after the game’s developer announced new changes on governance.

• The surge pushed AXS to a new two-month high.

Data Source: Tradingview 

Axie Infinity (AXS) – The outlook

The long-term outlook for Axie Infinity (AXS) has often been quite positive. The volatility of the last few weeks is only a bump in what is expected to be a great year for AXS. The key now will be to watch how the coin will keep up the momentum. 

Hitting a 2-month high is a big thing, especially when you consider just how far AXS had fallen. But AXS is not the only blockchain gaming token rising. In fact, after news broke that FTX and PUGB were getting into crypto gaming, almost all Play-to-Earn tokens saw major gains. 

But AXS remains the stand-out performer with a 44% gain for the week. We expect this bullish surge to maintain at least in a week or so before it retreats.

Is Axie Infinity (AXS) still a good buy?

There were a lot of fears that perhaps AXS may have lost its momentum. After dominating GameFi in 2021, the NFT inspired game has continued to face increased competition from other newer games. 

But despite this, we expect Axie to continue playing a key role in the GameFi sector. As a long-term asset, it is going to offer steady and decent gains for investors. The biggest downside risk is a decrease in active monthly players due to other entrants in GameFi.

Solana (SOL) has been on a decent bull run over the last few weeks. After tanking to around $60 just the other day, the altcoin has been rallying, and it doesn’t seem like the momentum is about to stop. Here is what we know so far:

• Solana has surged above $100 for the first time in weeks

• The bull run has smashed past several key overhead resistance zones.

• The coin is likely to settle at $130 in the near term.

Data Source: Tradingview 

Solana (SOL) – How will the momentum play out?

The broader crypto market has been doing quite well as we wrap up March. But altcoins like SOL have seen more gains. The coins have also had a brutal start to the year. Even though we have seen rallies here and there, the general trend for SOL and other altcoins has been very bearish. 

But SOL appears to have reversed that trend. After bottoming to around $60, it seems like bulls have now taken over. Also, SOL has smashed past several key overhead resistance zones, including the $95. 

The goal now for bulls will be to get the coin above $105. If this happens, it is likely that SOL will continue surging before finally settling at around $130. However, this thesis will be invalidated if bulls are not able to keep the price action above $95.

Why Solana (SOL) is a good buy?

Solana (SOL) has remained one of the hottest crypto assets on the planet. It is touted as the Ethereum killer thanks to its faster transaction speeds and low gas fees. The recent dip basically gave investors the chance to buy on the cheap. 

But overall, Solana is expected to smash well above $200 somewhere this year and end even further higher by the time we cross into 2023. For any investor, owning SOL is highly recommended.