A few days ago, developer Axie Infinity announced changes to the play-to-earn system on its platform. This triggered a strong rally for the Smooth Love Potion and Axie Infinity. Read more here!
5 Bullish Crypto Assets
Smooth Love Potion (SLP)
As an in-game token Axie Infinity, Smooth Love Potion (SLP) is down nearly 93% from its all-time high on July 13, 2021 of $0.39 as it faces runaway inflation.
But in early February 2022, the team announced it would significantly remove Smooth Love Potion (SLP) publishing from the game, making it more difficult to farm. Since announcing its plans for this economic rebalancing, Axie Infinity’s AXS governance token and its blockchain token, RON, have seen a rise in price.
Then what about Smooth Love Potion (SLP)? It sure did skyrocket too!
Since this update went live, SLP is up nearly 24% in the last 24 hours. It’s still uncertain how these changes will impact the price of the SLP in the long term, especially as future changes and developments are slated to take place, but it could be the good thing Axie Infinity needs.
Looking at the 4-hour chart, the price of SLP/IDR has increased, on 7 feb 2022 the price was in the range of 190 – 200, then on 8 feb 2022 the price rose to 339 and the next day it was corrected again to 265 but after that it moved back up to price 564 on 10 feb 2022. And now the price is moving between 410 – 430. The lower limit is at the 350s level, if it goes down from that it is possible that the price will return to the WMA/85 (269) range before experiencing another rebound.
Did you know, Grayscale, the world’s largest crypto asset management company, has added 25 coins to its list of assets under consideration for adding to its investment products, including EGLD. New York-based Grayscale was first initiated in 2013.
Elrond (EGLD) is a blockchain platform for enterprise-level distributed and business applications that aims to be a technology ecosystem for the “new internet.” With so many updates in 2021 and its promising future, it’s no wonder so many are holding onto EGLD.
Indeed, there hasn’t been a drastic price spike on the candle, but slowly the EGLD price started to move up, on February 1, 2022 the price of the EGLD/IDR pair was in the range of 2,092,000 then the price slowly rose to break the MA/25 (2,752,207) and had a breakout of the upperband 3.3 million . But the seller was able to reduce the price so that it fell again to 2.7 million. Now the price is between 2.7 million – 2.9 million.
Ripple (XRP) broke and closed above WMA/85 (10906) on February 7, indicating that the downtrend may be ending soon. The bears tried to pull the price back below the breakout level at 9910 but the bulls thwarted their attempts.
The price rebounded from 9900 and the bulls are trying to push the XRP/IDR pair towards the overhead resistance at 10900. A break and close above this resistance could open the door for a rally to 12533 ??(EMA/200).
The price is on the verge of a bullish crossover and the index (RSI) is in the positive zone, indicating that buyers have the upper hand. This positive view will invalidate on a break and close below 10900 and down to 10700. Such a move would suggest that the bears continue to sell on the rally.
The 4 hours chart shows that the bulls and bears are fighting between 10900 – 12193. The bulls pushed the price above this level but the bears stalled the rally at 12800 and have pulled the pair back below 11000.
A minor positive is that the bulls bought the downside at WMA/85. If the price rebounds from this support, buyers will try to push the pair above 11000 and challenge the resistance at 12100. Conversely, a break and close below WMA/85 may pull the pair down to 10800. A break and close below this support could indicate the start of a further correction.
Ethereum Classic (ETC)
Ethereum Classic (ETC) is an Ethereum (ETH) hard fork launched in July 2016. Its main function is as a network of smart contracts, with the ability to host and support decentralized applications (DApps).
Since its launch, Ethereum Classic has sought to differentiate itself from Ethereum, with a technical roadmap for the two networks that have drifted away from each other over time.
On Wednesday last week, Komodo, a multichain architecture network, announced the introduction of 12 protocols on its non-custodial multi-coin software wallet and atomic-swap-powered decentralized exchange AtomicDEX.
The 12 protocols consist of Avalanche, Polygon, Harmony, Fantom, smartBCH, Ethereum Classic, Moonriver, KuCoin Community Chain, Huobi ECO Chain, Ubiq, Arbitrum and Optimism, with the last two protocols being wallet-only. After the upgrade, users will be able to exchange Avalanche tokens to Polygon, Ethereum to Binance Smart Chain (BSC), etc., and vice versa.
Crypto.com Chain (CRO)
Crypto.com (CRO) broke above its 25-day moving average (6261) on Feb 7, indicating that the corrective phase could be over. The price continued its rally to 6900 on February 10 where the Bears put up a strong resistance.
The moving averages are on the verge of a bullish crossover and the RSI is in positive territory, indicating that the buyers have a slight edge. If it rebounds now and stays at the middle bb MA/25, it will indicate that the bulls are buying on the downside. The bulls will then try to push the price above 7400 and continue the uptrend.
If they can do so, the CRO/IDR pair could rise to 7400 and then to 9343. Contrary to this assumption, if the price drops and breaks below its 25-day moving average, the pair could drop to 5587.
The 4-hour chart shows the pair rising inside the uptrend channel. The bulls are trying to push the price in the upperband area, but the bears have other plans. They pulled the price back into the lowerband area, trapping the bulls to act aggressively.
Buyers are trying to keep the price from going down from the EMA/200 on the 4-hour chart. If the price holds above the EMA/200, the buyers will again try to push the pair above the channel’s resistance line. This positive view will be invalidated if the price drops and falls below the EMA/200 support line or at the price of 6691.
5 Bearish Crypto Assets
Curve DAO Token (CRV)
Curve is a decentralized exchange for stablecoins that uses an automated market maker (AMM) to manage liquidity.
Launched in January 2020, Curve is now synonymous with the phenomenon of decentralized finance (DeFi), and has seen significant growth in the second half of 2020. CoinMarketCap’s current rating is #72, with an immediate market cap of $1,199.531,850 USD. Has an outstanding supply of 443,957,654 CRV and max. supply 3,303,030,299 CRV.
The most recent development that helped kick-start price growth for INJ was the release of Injective Bridge v2 in late January, which included various improvements designed to help facilitate cross-chain compatibility with Cosmos (ATOM) and Ethereum (ETH).
However, the price of ATOM itself has decreased by 4.80% in the last 24 hours.
Basic Attention Token (BAT)
The Basic Attention Token, or BAT, is the token that powers a new blockchain-based digital advertising platform designed to fairly reward users for their attention, while providing advertisers better returns on their ad spend. CoinMarketCap’s current rating is #75, with an immediate market cap of $1,170,393,570 USD. Has an outstanding supply of 1,495,585,511 BAT and max. supply of 1,500,000,000 BAT.
Polkadot’s parachain auction will definitely succeed and will ensure decentralized Web3 by linking various blockchains together. The capacity to communicate is part of what sets Polkadot apart from Ethereum and other blockchains.
Polkadot’s emphasis on parachains, which are formally parallelizable chains, was the impetus in pushing one of the core principles behind Web3 forward: The ability to communicate between disparate systems.
Just like last week, ALT is still perched in the ranks of Bearish crypto assets. Alita is the basic infrastructure of a new generation value network, dedicated to building a new generation of underlying trusted network protocols, and providing customers around the world with an efficient, convenient, secure and stable development and deployment environment. Currently, the price has fallen by 19% in the last 24 hours.
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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