In another move that demonstrates increasing adoption of crypto asset, El Salvador President Nayib Bukele announced the launch of a Bitcoin city, which will be powered by geothermal energy and initially funded by $1 billion Bitcoin bonds. Additionally, CRO prices hit new highs after Crypto.com won the Los Angeles Staples Center naming rights.
Can massive buying at lower prices boost Bitcoin towards $60,000 and will altcoins participate in the recovery?
Come on, check out Market Signal today to learn bitcoin and altcoins this week!
5 Bullish Crypto Assets
Elrond is a blockchain protocol that aims to be a technology ecosystem for the “new internet” and uses sharding technology to enable its network to process 15,000 transactions per second (TPS) at an average transaction fee of $0.001.
The building momentum for EGLD came when the Maiar decentralized exchange (DEX) protocol was officially launched alongside a $1.29 billion liquidity incentive program designed to help attract users and liquidity to its DeFi ecosystem.
From November 16th to 18th buyers bought in times of price declines, the support level moved at the price of 4.1 million – 4.3 million at that time. Strong buying occurred on November 19, Buyers pushed the price above resistance to touch the price of 5 million rupiah.
Continuing the uptrend to date EGLD has reached a price of 6.6 million. The sharp rally has pushed the RSI and MACD well above the overbought zone, suggesting that consolidation or a minor correction may be imminent.
The first support in the 1H timeframe, the support price is at 6.1 million. If it rebounds from this level, Buyers will then try to continue the uptrend with the next target above 6.6 million.
This positive view will be overturned if the price drops and falls below the WMA/75 and the price corrects below the 5.7 million level.
If corrected to 5.7 million. The 4 hour chart shows. The next strong support, EGLD price will test the support area first at the level of 5.2 million – 4.9 million.
Crypto.com Chain (CRO)
Crypto.com’s native crypto asset, CRO, hit an all-time high of $0.593 on November 18 after the company won naming rights for Los Angeles’ Staples Center.
The cryptocurrency trading platform announced late Tuesday that it has paid $700 million to Anschutz Entertainment Group to rename the Staples Center to Crypto.com over the next 20 years. In doing so, he gained relationships with downtown arena original sports franchises, including the Los Angeles Lakers and Clippers of the National Basketball Association, and the Kings National Hockey League franchise.
The deal should raise public awareness of Crypto.com, and it encourages traders to increase their bids for CRO, an intermediary settlement token across multiple assets within the Crypto.com ecosystem.
Reported by Cointelegraph, Sandbox is listed as one of the top six crypto trading opportunities. The six best-performing assets this week exhibited very similar trading patterns and social behavior to the historically bullish combination before they rallied.
Given the recent success of NFT and Metaverse, it’s no wonder Sandbox is on the rise. Launched in 2011 by Pixowl, The Sandbox is a blockchain-based virtual world that allows users to create, build, buy and sell digital assets in the form of games. By combining the power of a decentralized autonomous organization (DAO) and a non-equal token (NFT), Sandbox creates a decentralized platform for a thriving gaming community.
According to the official whitepaper, the main mission of the Sandbox platform is to successfully introduce blockchain technology in mainstream games. The platform focuses on facilitating a creative “play-to-earn” model, which allows users to be creators and gamers at the same time. Sandbox harnesses the power of blockchain technology by introducing the utility token SAND, which facilitates transactions on the platform.
Long tails on November 16 and 17 candlesticks indicate that Buyers are trying to maintain strong support at 27000 – 28000. However, the failure to hold Cardano (ADA) above 27000 may have prompted aggressive selling from traders on November 18. Currently the price is being corrected to the level of 25000’s.
Buyers are currently trying to push the price back above 25000. If they manage to keep the price above this level, it could start a strong recovery, which may reach the upperbands line of the resistance area 27500 – 28000.
Contrary to this assumption, if the price drops from the 200 EMA level on the 1 day chart at 26432 and is unable to recover quickly, it will indicate that sentiment remains negative and selling dominates the market. The seller will try to pull it under 24000 – 20000.
Wait and see, there will be Cardano 360 November development development on November 25th.
Bitcoin reversed course from 802 million on November 19, recovering the price towards resistance at the 50-day moving average (864 million). However, on the way, starting this week on the hourly chart, the price of BTC first corrected to 820 million. RSI and MACD are also in the negative area, indicating that sellers are trying to dominate the market.
If the price drops from the current levels, the next stop could become a strong support zone at 815M – 800M.
If the price rebounds from this zone, the bullrun will continue if the candle is able to breakout the EMA/200 on the 4-hour chart at 864 million. Buyers will try to push the price above the all-time high of 966 million
The 1-day chart shows that the price is moving below the WMA/75 and WMA/85 areas between the price of 842 million – 829 million, if buyers are unable to hold on to these levels. strong support may be touched at the 800 million level,
On the other hand, if the price is able to rise from the current level and break through the WMA/85 price of 829 million, this will signal a possible reversal and the BTC uptrend will continue.
5 Bearish Crypto Assets
Yesterday on the list of Bullish crypto assets, this week OMG comes as Bearish crypto assets. After a massive Airdrop, OMG has seen two significant price spikes between September 29 and October 4 to 247K and most recently on November 5th to a nearly four-year high of 280K. Analysts had been anticipating the potential for higher prices at OMG since Boba’s announcement due to high interest in the airdrop.
However, after the 100eyes Crypto Scanner account tweeted a “Quaint activity alert” on the dramatic price drop, which may have been caused by OMG holders trying to preempt the “news sell” price action. This prompted a fairly dramatic price decline experienced by OMG.
After the price has often increased in the past 2 months, QNT is now on the Bearish crypto asset list. Quant was launched in June 2018 with the aim of connecting blockchain and networks on a global scale, without compromising network efficiency and interoperability. This is the first project to solve the problem of interoperability through the creation of the first blockchain operating system.
According to the Indodax market, when this article was written, Quant had decreased by 5.3% in the last 24 hours. CoinMarketCap’s current rating is #65, with an immediate market cap of $2,629,063,915 USD and has an outstanding supply of 12,072,738 QNT and max. supply 14,612,493 QNT.
NEM was originally created by three developers known by their pseudonyms on the Bitcointalk.org forums: Jaguar0625, BloodyRookie and gimre. Since its founding in 2014-2015, NEM has grown from a personal project of three programmers to a large ecosystem made up of multiple platforms.
Judging from the Indodax market, when this article was written, the original crypto asset from NEM, namely XEM (don’t reverse it!) fell 3.26% in the last 24 hours. CoinMarketCap’s current rating is #82, with an immediate market cap of $1,561,493,613 USD and has an outstanding supply of 8,999,999,999 XEM and max. supply 8,999,999,999 XEM.
GLITCH is a fast, interoperable, blockchain-agnostic protocol built specifically for DeFi. Instead of aiming to be a jack-of-all use case, GLITCH has a singular focus on decentralized financial applications and trustless money markets.
Judging from the Indodax market, when this article was written, Glitch was down 13.41% in the last 24 hours. CoinMarketCap’s current rating is #419, with an immediate market cap of $132,243,255 USD and has an outstanding supply of 79,282,952 GLCH and max. supply 88,888,888 GLCH.
NXT uses blockchain to create an entire decentralized feature ecosystem, all of which require NXT crypto assets. Instead of modifying the original Bitcoin source code, as many altcoins have done, NXT developers wrote their own code in Java from scratch. Although NXT is a public blockchain, licenses for a private blockchain based on its software are also available for purchase. Developers refer to Nxt as Blockchain 2.0, providing many applications for more than just keeping a public ledger of transactions.
Judging from the Indodax market, when this article was written, NXT was down 0.85% in the last 24 hours. CoinMarketCap’s current rating is #990, with an immediate market cap of $16,221,866 USD and has an outstanding supply of 998,999,942 NXT and max. supply 1,000,000,000 NXT.
NOTE: If the 5 EMA crosses the WMA 75, 85 and 200 EMA lines and the lines intersect from the bottom up, then the market trend tends to go up (bullish),
in each table above shows if, the value of EMA 5 is higher than WMA 75.85 and EMA 200 then m