Bitcoin (BTC) and most of the altcoins were sold on December 4 yesterday with massive deleveraging seen in the crypto derivatives market. Data shows more than $2.5 billion in crypto liquidations over a 24-hour period. However, there are other crypto assets that you can consider, for example there is MATIC. Read more here, come on!
5 Bullish Crypto Assets
Polygon (MATIC) has been trading in an uptrend channel for the past few days. The price pushed above the resistance line on December 3rd at the 30K level, but was unable to sustain any higher level. This may be because there was profit taking in response to the drop in BTC prices, on December 4, the price was corrected to the price level of 24 thousand.
RSI and MACD are in the positive zone, signaling gains for buyers. If it rebounds from the current levels, the price will again try to push the price above the 33K resistance line, if a breakout occurs, the MATIC/IDR bullrun will continue to the next resistance target at 39K.
On the other hand, if the price fails to go up, and the sales break through to the EMA/50 level at 25 thousand, then buyers will try to buy again when they decline in the MA/75 area in the 21 thousand – 22 thousand price range.
Waves is a multipurpose blockchain platform that supports a wide range of use cases including decentralized applications (DApps) and smart contracts. Launched in June 2016 following one of the earliest initial coin offerings (ICOs) in the cryptocurrency industry, Waves initially set out to enhance the first blockchain platform by increasing speed, utility, and user-friendliness.
The platform has gone through various changes and added new spin-off features to build on the original design.
Following the BTC downtrend, the pair WAVES/IDR also briefly slipped to the support level of 230K, but buyers were able to raise the price back to the current level of 277K. The bullish trend can continue if the price is able to breakout the EMA/200 level at 311 thousand. And judging by the RSI has also come out of the oversold area and is in the positive zone.
Binance Coin (BNB)
Launched in July 2017, Binance is the largest cryptocurrency exchange globally by daily trading volume. Binance aims to bring cryptocurrency exchanges to the forefront of financial activity globally. Binance is a unique ecosystem of decentralized blockchain-based network. The company has grown to become a leading crypto exchange in a number of countries, and their side organizations are also attracting significant interest.
Since launching Binance Coin, the exchange has also benefited from increased investor interest in the token. BNB experienced a significant price increase in early 2021, which has put it on the company’s investor map.
Cardano (ADA) briefly recovered sharply on December 2nd the price rose to the level of 25K, but the price was not strong enough to climb back up and eventually the sell-off dominated. The price fell to the level of 19 thousand, this is an important support that must be maintained, if buyers are not able to stem the higher demand then the price of ADA will drop to the level of 16 thousand.
Contrary to this assumption, if the price rises from the support zone, it will indicate that traders are queued to buy at lower levels. The advance will then make one more attempt to push the price above the EMA/50 on the 4-hour chart, the next target resistance is at 22K, then if it breaks the next target at the 25500 level.
The last one is OKB. Just like BNB, OKB is a cryptocurrency released by the OK Blockchain Foundation and Malta-based crypto exchange OKEx. The exchange is one of the largest in the world and currently ranks third in liquidity, fourth in trading volume, and provides a wide selection of trading pairs. OKEx is similar in many aspects to cryptocurrency exchange giant Binance, but there are some key differences. The OKEx platform has its own cloud mining service, and the company has a more focused reach on providing users with options trading. Meanwhile, Binance strives to offer a wide range of crypto services globally.
5 Bearish Crypto Assets
Analysts note that NFT-based music streaming projects are likely to kick off in 2022, including initiatives like Audius, a blockchain music platform backed by Katy Perry, The Chainsmokers, and Jason Derulo. Based on blockchain technology, the Audius platform is a decentralized music sharing and streaming protocol designed to remove middlemen from the music industry and allow fans and creators to interact with each other directly.
So, what do you think, will Audius continue to be present in Bullish crypto assets in 2022?
Qtum (pronounced ‘”quantum”) is an open source blockchain platform proof-of-stake (PoS) smart contract and value transfer protocol. It aims to unite the power of Bitcoin and Ethereum in one chain. Qtum is built on the UTXO Bitcoin transaction model, with the added functionality of smart contract execution and DApps. Recently, the platform added support for DeFi apps. As of March 2021, there are more than 20 tokens created on the Qtum blockchain. CoinMarketCap’s current rating is #91, with an immediate market cap of $984,926,866 USD and has an outstanding supply of 98,914,070 QTUM and max. supply 107,822,406 QTUM.
Wow, this time Mimin can write about ANKR. Rarely present in Market Signal, unfortunately this time ANKR has to sit in the ranks of Bearish crypto assets.
Ankr originated as a solution that leverages shared resources to provide an easy and affordable blockchain node hosting solution. Founded in November 2017 and during his time in the market, he has built a marketplace for container-based cloud services through the use of shared resources.
Even though it fits perfectly into the top 100 on CMC, with an immediate market cap of $838,168,399 USD, ANKR looks like it’s on a steady decline in price. At the time this article was written, ANKR had an outstanding supply of 8,162,899,378 ANKR and a max. supply of 100,000,000,000 ANKR.
Ren (REN) is an open protocol built to provide interoperability and liquidity between different blockchain platforms. Previously known as Republic Protocol, Ren launched RenVM, its mainnet virtual machine, in May 2020, after completing an initial $34 million coin offering (ICO) in 2018.
Its current CoinMarketCap rating is #127, with an immediate market cap of $597,502,771 USD and has an outstanding supply of 997,764,051 REN and max. supply 1,000,000,000 REN.
Lastly is AIOZ. AIOZ Network is a distributed CDN built on our own Blockchain. On AIOZ Network, users share redundant memory, storage and bandwidth resources to create large CDNs capable of powering streaming platforms anywhere in the world. We aim to change the way the world streams video.
The price of AIOZ is down 11.52% in the last 24 hours. CoinMarketCap’s current rating is #394, with an immediate market cap of $124,621,135 USD and has an outstanding supply of 202,764,053 AIOZ and max. supply 1,000,000,000 AIOZ.
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),
each table above shows that if the 5 EMA value is higher than the 75.85 WMA and 200 EMA, the market tends to go up (bullish).
If the RSI and MACD values ??show the same condition, it means that the market is showing the same trend, overbought (overbought) or oversold (oversold) conditions are an indicator that the market is already at the point of changing the direction of the trend.
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