Did you know that the overall crypto asset market cap is now at $2.384 trillion and the Bitcoin dominance rate is 40.7%*. However, while Bitcoin (BTC) is experiencing a fairly deep decline at the moment, BTT is present in the Bullish crypto asset with its price already hitting double digits. Even with the consolidation of BTC and ETH, changes in trader sentiment have been a boon for altcoins and many have achieved gains of more than 50%, such as SAND.
Come on, find out more about Bullish and Bearish crypto assets for the next week here!
5 Bullish Crypto Assets
BitTorrent is a peer-to-peer file sharing and torrenting platform that has made a shift towards a more decentralized design over the last few years after being integrated into the Tron ecosystem.
VORTECS™ data from Cointelegraph Markets Pro started detecting a bullish outlook for BTT on December 4th, ahead of the recent price hike.
Cointelegraph states that it is an algorithmic comparison of historical and current market conditions obtained from a combination of data points including market sentiment, trading volume, recent price movements, and its Twitter activity.
The development momentum for BTT comes as the project makes its final preparations for the rollout of the main network (Mainnet) BitTorrent Chain, which will include a token redenomination plan where current BTT holders will receive 1,000 new BTT tokens for every old BTT stored in their wallets.
Once reached resistance at price 60 on December 8 last, but currently the price is being corrected normally to price 45. The upside potential can still continue if BTT is able to outbreak the EMA/200 level at price 48.
PolkaBridge is a decentralized multichain protocol designed to serve as the primary bridge between Polkadot and other networks. The platform also supports an all-in-one platform that includes an automated market maker (AMM) with agriculture, lending, token launch, prediction market and NFT market. The price increase experienced by PBR has also pushed up the price of DOT (Polkadot) which is widely used as an alternative to the Ethereum network.
Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.85 on Dec. 6, PBR price bounced 99.4% to hit a daily high of $1.71 on Dec. 7 as its 24-hour trading volume increased 80% to $10.2 million.
The price itself is showing an increase, although it is still below the EMA/200 line, but the price has risen to the current level at 414K, had a correction to 378K. The DOT/IDR pair is trying to climb higher. The next resistance target is 447K – 481K.
TRON is a blockchain-based operating system that aims to ensure this technology is suitable for everyday use. While Bitcoin can handle up to six transactions per second, and Ethereum up to 25, TRON claims that its network has a capacity of 2,000 TPS.
TRON was founded by Justin Sun, who is now CEO. A graduate of Peking University and the University of Pennsylvania, he was recognized by Forbes Asia in the 30 Under 30 series for entrepreneurs.
As can be seen from the 4-hour chart, the price of TRX/IDR has risen from its old support at 1180, the price is slowly starting to rise to 1293. And if buyers are able to raise more demand, it is possible that TRX/IDR could rise higher to the next upper limit. in the price range of 1351 – 1382.
COTI markets itself as the first enterprise-grade fintech platform that empowers organizations to build their own payment solutions and digitize any currency to save time and money.
COTI is one of the world’s first blockchain protocols optimized for decentralized payments and designed for use by merchants, governments, payment DApps, and stablecoin issuers.
The COTI/IDR pair tried to break the MA/50 on the 4-hour chart, at the price level of 4881. However, it seems that sellers are still able to dampen the upward rally. Correction is possible until the price touches the MA/25 at the level of 4634 and the price rebound may occur again and increase to the next resistance towards the MA/50 at the price of 4881 and if the breakout is confirmed, the next target is the price level of 5032 – 5921.
The Sandbox (SAND)
The last one is SAND. Did you know, virtual land sales in the metaverse have been dominated by NFT sales since early December, reaching over $300 million. Of that total, nearly a quarter is for digital land in The Sandbox metaverse, surpassing all other items, art, and collectibles. Very cool, huh? No wonder the price continues to increase. The SAND/IDR pair was corrected and almost breakdown the EMA/200 in the range of 70 thousand, but Buyers were still able to hold on to the support at 70 thousand, so the price is still rising until now.
When this article was made, the price of SAND/IDR broke the MA/50 at the level of 76 thousand, and now testing the resistance area of ??77 thousand. The RSI and MACD are both in the positive zone, so a positive rally can still make the price rise higher to the price range of 82 thousand – 89 thousand rupiah.
5 Bearish Crypto Assets
GXChain is the fundamental blockchain for the global data economy, designed to build trusted value internet data. Leveraging on the underlying DPoS-based Graphene architecture, GXChain has functions including G-ID, GVM, BaaS, and Blockcity, which are convenient for application development.
Judging from the progress and latest updates, GXChain has launched a staking mechanism and updated the voting mechanism from one-vote multi-vote to one-token one-vote, making every vote of public chain governance more valuable.
However, since Blockchain is a dynamic industry that is constantly evolving, it seems that the market is not too enthusiastic about the latest update from GXChain which gives the impression of sluggish demand.
Venus is an algorithmic money market and synthetic stablecoin protocol launched exclusively on the Binance Smart Chain (BSC). In the Indodax market, XVS fell by 8.5% in the last 24 hours. CoinMarketCap’s current rating is #303, with an immediate market cap of $201,932,978 USD and has an outstanding supply of 11,625,448 XVS coins and max. supply 29,960,733 XVS coins.
You may see that XDC, which used to be XinFin Network, has now been rebranded as XDC Network. XinFin is actually an enterprise-ready hybrid Blockchain technology company optimized for international trade and finance. Well, the XinFin network is backed by its token called XDC.
Chia Network (XCH)
Actually this one crypto asset is very unique and has great potential. Chia Network (XCH) improves proof-of-stake (PoS) and proof-of-work (PoW) by using a more energy-efficient consensus mechanism. The network reached the Nakamoto consensus by combining proof-of-space (PoS) with proof-of-time, (PoT) both of which function in different ways.
However, the price hasn’t gone down too much, guys! Any of you here still have XCH?
Augur v2 (REPv2)
Lastly is REPv2. Augur (REP) is intended to leverage the wisdom of the crowd via a predictive marketplace on protocols owned and operated by Ethereum-based Reputation token holders. Well, Augur v2 is a fork of the Augur prediction market protocol designed to increase efficiency. Prediction markets like Augur v2 are designed to allow users to place bets on a variety of different events. With this fork, Augur v2 rolls out a series of improvements around dispute management, settlement, forking, and more.
NOTE: If the EMA 5 crosses the WMA 75, 85 and EMA 200 lines and the lines intersect from the bottom up, then the market trend tends to be bullish (bullish), in each table above it shows that the EMA 5 value is higher than WMA 75, 85 and 200 EMA then 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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*data taken from Cointelegraph