Indodax Market Signal. Increases in metaverse tokens such as Decentraland (MANA) and Sandbox (SAND) experienced extensive rallies and within days of Facebook’s announcement, decentralized metaverse project The Sandbox received $93 million in funding from investors, including Softbank.
But now that the hype has died down, do the plans of the company formerly known as Facebook represent good news for non-fungible tokens (NFT) and metaverse projects in crypto? Check it out on Market Signal this week!
5 Bullish Crypto Assets
Back in the ranks of Bullish crypto assets, one of the Metaverse players in the Blockchain world, SAND, seems to be skyrocketing. The Sandbox (SAND) has corrected the strong gains in recent days. Buyers are trying to hold the price at the support between the levels of 100000 – 87500.
If the price rises from the current level, this will indicate that sentiment remains positive and traders buy on any minor declines. Strong sentiment will push the price to the next resistance above 115K.
If they succeed, the SAND/IDR pair may continue its advance with the next target of 115K to 120K. This bullish view will be invalidated in the short term if the price drops from the current levels and breaks below the MA/50 (86000).
If the price drops from the current level or overhead resistance and breaks below the 50 MA, this will signal that traders may book profits on the relief rally. That could open the door for a deeper drop of 74000.
Decentraland (MANA) dropped to 67500 on November 25 but the long tails on the candlesticks in the last two days suggest that the bulls are trying to maintain the price zone above the 25-MA (70080).
The price will now try to push the price above the resistance 79000 and continue the uptrend. If successful in doing so, the MANA/IDR pair can start its journey towards the next target target above 80000 – 85000.
The rising moving average and the RSI in positive territory indicate that prices still have the potential to increase.
This bullish view will be invalidated in the near term if the price drops and breaks below the 50-MA (64962). Such a move would indicate that supply exceeds demand. The pair may then drop to 57500.
On the other hand, if the price rises from the current level or the MA/50, buyers will try to push and hold the price above 72000. That could accelerate buying and the pair may rally to 80000 and then to 83000.
Enjin Coin (ENJ)
While the NFT industry is growing in popularity, Japan itself is also globally renowned for its influential pop culture, including anime and manga. Many believe that the country has great potential to propel the NFT movement forward. Earlier this year, Mai Fujimoto, also known as Miss Bitcoin, partnered with blockchain gaming ecosystem Enjin to launch an NFT charity project in Japan. Very cool, huh?
As one of the Metaverse crypto assets with a fairly large market capitalization, the Enjin team continues to innovate and be active in developing their projects!
Next up is ZEC. There is something about this crypto asset. The price suddenly rose markedly — 26% to be exact — after a Twitter comment from Barry Silbert, founder and CEO of investment giant Digital Currency Group, on November 24, 2021.
In addition, Zcash (ZEC) did jump nearly 20% in late November 2021, helped by the euphoria surrounding the transition that defined its core protocol from Proof-of-Work (PoW) to Proof-of-Stake (PoS).
The price of ZEC soared after the cryptocurrency’s lead developer, Electric Coin Company (ECC), announced that it would be moving the Zcash protocol from PoW to PoS within the next three years. The increase will limit the downward pressure on the ZEC price by removing miners who “immediately liquidate” tokens for Bitcoin or fiat.
Last is FIL. Ever heard of Dragon Miracle Potion? DMP tokens can only be obtained through game dungeons. This token will be consumed during dragon breeding, absorption of dragon skulls and swallowing other dragons (for those who don’t know, this is basically a game, huh! Not eating real dragons!) Apart from the platform revenue aggregator, players can earn through the many innovations introduced by Dragon Mainland. , such as DeFi mortgage mining, rare dynamic attributes of games, DAO game mechanics management, and NFT trading. Well, all NFT data will be stored on the Filecoin network to maintain the decentralized integrity of the tokenized collection. In your opinion, this is also what makes FIL prices go up or not?
5 Bearish Crypto Assets
ABCC is a blockchain platform that enables secure payment transactions, helps facilitate retail adoption of crypto asset and makes online shopping with digital assets a safer and more enjoyable experience, right for the end user. Reported by Coinmarketcap, ABBC Coin is down 10.45% in the last 24 hours. CoinMarketCap’s current rating is #331, with an immediate market cap of $206,809,755 USD and has an outstanding supply of 918,224,234 ABBC and max. supply 1,500,000,000 ABBC.
Pando Coin is designed to provide a revolutionary new way of rewarding culture to the browsing environment. PANDO Coin is designed to allow its users to experience maximum financial benefits with the transparency and level of privacy protection they deserve. We hope that our products such as browsers and messengers will support positive change in the world. CoinMarketCap’s current rating is #3395, with an immediate market cap not available. Circulating supply is not available and max. supply 2,000,000,000 PANDO.
Frequently featured on Bearish crypto asset lists, Celsius (CEL) is an all-in-one banking and financial services platform for cryptocurrency users. Launched in June 2018, they offer rewards for depositing cryptocurrencies, along with services such as loans and wallet-style payments. Platform users receive regular payments and interest on their holdings. Celsius’ native token, CEL, performs various internal functions, including increasing user payments when used as a payment currency. If you look at the graph on Coinmarketcap, Celsius has fallen 2.25% in the last 24 hours. CoinMarketCap’s current rating is #114, with an immediate market cap of $924,484,978 USD and has an outstanding supply of 238,863,520 CEL and max. supply 695,658,160 CEL.
Loom Network (LOOM)
Loom Network is a platform as a service that is built on top of Ethereum and allows developers to run large-scale decentralized applications. The platform was released on October 1, 2017.
The goal is to allow application developers to have smart contracts that can access more computing power when needed, or maintain the same power at a lower cost for tasks such as testing to enter new users or applications that do not require the full security of the blockchain to start. CoinMarketCap’s current rating is #443, with an immediate market cap of $121,147,726 USD and has a circulating supply of 1,000,000,000 LOOM and max. supply is not available.
Last is DENT. Launched in 2017, Dent is a revolutionary digital cellular operator that offers eSIM cards, mobile data plans, top-up call minutes and a free roaming experience. According to the company’s website, Dent is using the power of blockchain technology to create a global marketplace for mobile data liberalization. CoinMarketCap’s current rating is #160, with an immediate market cap of $480,635,078 USD and has an outstanding supply of 99,007,791,203 DENT 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),
in each table above shows if, the value of EMA 5 is higher than WMA 75.85 and EMA 200 then the market tends to go up (bullish).
If the RSI and MACD values ??show the same condition, it means 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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