Hello Indodax friends! It doesn’t feel like we’re already into 2022. According to analysts, FTM, ATOM, and ALGO could rally if Bitcoin rises above the 50-day SMA. Amid the many predictions regarding crypto assets, the Ethereum network still has a fee problem. This is how competing networks are trying to capitalize on Ethereum’s unresolved issues. Let’s just take a peek at how the crypto asset signals in the first week of this year!
5 Bullish Crypto Assets
Did you know, last December 2021, using Cointelegraph’s Markets Pro, Cointelegraph experts identified two altcoins that stood out in the last week of 2021: yearn.finance (YFI) & IOTA (MIOTA).
yearn.finance is an aggregator service for decentralized finance investors (DeFi), using automation to enable them to maximize profits from yield farming.
The goal is to simplify the ever-expanding DeFi space for investors who are not technically minded or who wish to interact in a less committed way than serious traders.
Launched in February 2020, the service, previously known as iEarn, has seen huge growth in recent months as new products debut and developers release in-house YFI tokens. The YFI/IDR pair is one of the altcoins that gave a positive trend at the beginning of 2022, the candle formed the three white soldiers pattern on the daily chart, the price moved up from the 425 million level at the end of 2021 and is currently touching the 585 million price. Immediate support is in the range of 560 million, and the next resistance is at 748 million to 850 million.
Returning to the bullish crypto asset lineup, Fantom is a graphical Smart Contract platform that provides decentralized financial services (DeFi) to developers using a bespoke consensus algorithm. Reported by Cointelegraph, FTM is one of the most successful crypto assets in 2021. On December 29, 2021, Cointelegraph stated that FTM increased 26.1% in a week. This means that FTM closes the end of 2021 with price stability which tends to increase.
Fantom Foundation CEO Michael Kong stated that they continue to see “Mass Adoption” throughout 2021 despite regulatory uncertainty. They are building a more complex and efficient DeFi system. As layers like Fantom and Ethereum become more scalable, we will see more growth in 2022, as one of the big limitations of all DApps and DeFi as a whole is blockchain scalability. Furthermore, DeFi will gain more adoption as a result of becoming more popular and mainstream.
The price of FTM is still rising, and is in the uptrend channel. The price support is between 29417 – 33607, the positive rally can continue if the price is able to break its old resistance at the level of 37213.
Did you know that scaling solutions like Polygon (MATIC) and Algorand (ALGO) benefit from every Ethereum transaction fee of $40 or more?
Algorand is considered to be one of the smart contract platforms that could see deeper adoption in 2022.
Algorand (ALGO) is a pure layer-one proof-of-stake (PoS) blockchain network designed to be self-contained and highly scalable, enabling it to handle heavy transaction loads at minimal costs.
In Q4 2021, they launched the Algorand Virtual Machine enabling decentralized applications (DApps), meaning DeFi and NFT projects can now operate on the network.
Tether (USDT) and USD Coin (USDC) have previously launched on this network, so their integration into the new DeFi platform is relatively easy, allowing for a quick increase in liquidity. The launch of the 150 million ALGO Viridis Fund by the Algorand Foundation is also designed to accelerate the development of the DeFi ecosystem on the network.
The project also attracted the attention of institutional investors, and a sizable cash inflow came from Borderless Capital which launched a $500 million fund to help develop DApps in Algorand. Hivemind Capital Partners also chose the protocol as its first technology partner.
Last October, Algorand rolled out a governance feature that would allow ALGO holders to have a say in the development of the protocol in the future.
On November 18, 2021, 21Shares announced the launch of a physically supported Algorand exchange-traded product that helped fuel ALGO’s price rally to an annual high of $2.99. At the beginning of 2022 the ALGO price experienced a slight correction, but the candle is still moving above the EMA/200 (22836) on the 4-hour chart, and if the price is able to bounce back up, the ALGO/IDR pair may continue its bullrun back and up to the price range of 25000 – 28550.
Reunited with BTC after a few months of hiatus from the Bullish crypto asset line. Bitcoin (BTC) continued to slide below the psychological level of 665 million in the first few days of the New Year, indicating a lack of aggressive buying by traders.
However, President Nayib Bukele of El Salvador, the first country to adopt Bitcoin as a legal tender, believes that Bitcoin could reach 1 Billion this year. President Bukele also said that two more countries will accept Bitcoin as legal tender by 2022. Bitcoin has been traded and is currently moving in a strong support area of ??between 660 million – 670 million. (RSI) is in the negative zone, indicating that the bears are still dominating the price at the moment. If the price drops from the level of 640 million, the seller will try to sell deeper. If they manage to do that, the next downtrend to 638 million and then to 591 million could be
Contrary to this assumption, if the dominance of BTC strengthens, and the price is able to move up and break the resistance area of ??690 million. Then a positive trend can occur if after that the price reaches 700 million again. With long-term resistance targets at the level of 725 million – 750 million.
Lastly is ANKR. Filipe is the DeFi architect at Ankr, a scalable protocol created to offer a multichain infrastructure for plug-and-play and multichain staking DeFi solutions for DeFi. He stated to Cointelegraph, “With nation-states like El Salvador adopting Bitcoin and more countries considering central bank digital currencies, they will soon realize that cryptocurrencies are not just a means of payment but the native currency of the broader blockchain on which they need to build. their government services and eventually changed the existing very poor basic banking layer. Things like bank settlements and trade settlements take two to three days to complete. On blockchain, this type of transaction finality is unacceptable, but that is what happens in traditional finance. This is when decentralized applications and smart contracts can power a new economy and enable true scalability across both ecosystems. The price of ANKR has just broken the EMA/200 (1581) on the 4-hour chart, the price support is between 1362 – 1520, if the bulls are able to move higher than the current level, the next target will be in the range of 1795 – 2000.
5 Bearish Crypto Assets
Holo is a peer-to-peer distributed platform for hosting decentralized applications built using Holochain, a framework for developing DApps that does not require the use of blockchain technology. Holo’s goal is to bridge between the wider internet and applications built using Holochain, offering an ecosystem and marketplace in which DApps are easily accessible, as they are hosted on the internet by Holo network participants.
Holo held an Initial Community Offering from March 2018 to April 2018. In the end, 177.6 billion HOT was minted through a demand-defined process, with 133.2 billion HOT (75%) allocated to the public sale and 44.4 billion HOT (25 %) is reserved for teams and companies. CoinMarketCap’s current rating is #84, with an immediate market cap of $1,282,542,052 USD and has an outstanding supply of 173,113,683,517 HOT and max. supply is not available.
Originally known as Antshares, NEO was renowned as China’s first public blockchain when it launched in February 2014. The open-source platform was renamed Neo three years later. In addition to creating a worldwide developer community that creates new infrastructure for the network and lowers barriers to entry, the team behind the project operates the EcoBoost initiative designed to encourage people to build decentralized applications and smart contracts on its blockchain.
They are often confused with the Chinese version of the Ethereum network.
CoinMarketCap’s current rating is #71, with an immediate market cap of $1,894,414,911 USD and has an outstanding supply of 70,538,831 NEO and max. supply 100,000,000 NEO.
One of the Indodax member’s favorites, this one stopped by the Bearish crypto asset. Aurora Chain (AOA) is on a mission to create a bright and colorful blockchain world with fast-paced contracts that facilitate easy application development on the blockchain. The team seeks to enable businesses from different industries to work together using a fixed supply distribution of the underlying AOA currency as a means to ensure the speed and functionality of the consensus mechanism. Thus, transactions can be realized quickly from the delegated share voting proof which is equipped with Bizanti fault tolerance
um to improve interactive consistency in the system. CoinMarketCap’s current rating is #643, with an immediate market cap of $43,402,834 USD and has an outstanding supply of 9,975,060,788 AOA and max. supply is not available.
Maker (MKR) is the governance token of MakerDAO and Maker Protocol — decentralized organizations and software platforms, both based on the Ethereum blockchain — that allow users to issue and manage the DAI stablecoin.
Originally conceived in 2015 and fully launched in December 2017, Maker is a project whose job it is to operate DAI, a community-managed decentralized cryptocurrency with a stable value pegged soft to the US dollar.
The MKR token acts as a sort of voting right for the organization that administers the DAI; while they do not pay dividends to their holders, they do give holders a voice in the development of the Creator Protocol and are expected to value its value according to the success of the DAI itself.
The Maker Ecosystem is one of the earliest projects in decentralized finance (DeFi): an industry that seeks to build decentralized financial products on top of smart contract-enabled blockchains, such as Ethereum.
The last one is TITAN. TITAN is a blockchain-based decentralized financial center that provides optimal liquidity solutions for various categories of digital assets with adaptive bonding curves. It not only provides a user-centric decentralized exchange, but also an aggregated liquidity pool that supports intelligent routing of orders. CoinMarketCap’s current rating is #368, with an immediate market cap of $152,720,961 USD and has an outstanding supply of 53,404,160 TITAN and max. supply is not available.
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.
ATTENTION: All content which includes text, analysis, predictions, images in the form of graphics and charts, as well as news published on this website, is only used as trading information, and is not a recommendation or suggestion to take an action in transacting either buying or selling. certain crypto assets. All crypto asset trading decisions are independent decisions by the user. Therefore, all risks arising from it, both profit and loss, are not the responsibility of Indodax.