The last Market Signal in 2021 will discuss 5 Bullish and Bearish crypto assets. Although there is no presence of BTC or ETH in this edition, there are several crypto assets that are green, is one of them yours? Find out here!
5 Bullish Crypto Assets
Zilliqa (ZIL) is one of the projects that experienced a price spike this year, especially August as the developers built the ecosystem and made improvements to the protocol. In fact, the network has been actively used by several exchanges.
By 2021, the Zilliqa network is an active network running millions of transactions every month. Blockchain is also constantly improving, from an average of more than 900 blocks produced a day when its main net was launched to today producing more than 2500 blocks a day.
Zilliqa’s latest quarterly report shows that the project ecosystem now has more than 180 partners and projects built on the network, indicating that there is significant interest in the protocol’s capabilities.
Another reason for the increased price power seen on Zilliqa is the thriving DeFi ecosystem and attractive betting rewards that offer high yield returns for users.
At the time this article was written, the ZIL/IDR pair had broken the EMA/200 (1047) on the 4-hour chart, the bulls don’t seem to have given up yet and the uptrend could continue to the 1200 range. The RSI has entered the overbought area, a correction is unlikely. Price support is between 1000 – 1072.
Fantom is a graphical Smart Contract platform that provides decentralized financial services (DeFi) to developers using a bespoke consensus algorithm. Together with its internal FTM token, Fantom aims to solve the problems associated with the smart contract platform, in particular the transaction speed, which the developer says has been reduced to less than two seconds. The Fantom Foundation, which oversees Fantom’s product offerings, was originally created in 2018, with the launch of OPERA, Fantom’s flagship network, in December 2019.
Reported by Cointelegraph, FTM is one of the most successful crypto assets in 2021.
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.
FTM is also in the uptrend channel at the moment, the next target is around 37 thousand. If corrected, the closest support will be around 32 thousand. Based on coinmarketcap data in the last 7 days the price of FTM increased by 68.98%.
After losing its CTO dramatically, Sushi this time still had time to enter the ranks of Bullish crypto assets. Joseph Delong, chief technology officer of SushiSwap, the thirteenth largest DEX, by trading volume, is tendering his immediate resignation from the role.
In the interest of the Sushi Community I am resigning as CTO effective immediately. I very much enjoyed the things that we built together and will look back positively on this moment. pic.twitter.com/7pZsQuPgup
— joseph.eth (@josephdelong) December 8, 2021
SushiSwap allows its users to stake native SUSHI tokens on the platform to receive a portion of the resulting exchange fees, whereas Uniswap, the top DEX in DeFi, currently does not offer such a feature.
While other factors such as trading volume and daily users have made Uniswap a legitimate investment for many shareholders, some traders prefer to hold SUSHI because of its revenue-sharing model and multi-chain trading capabilities.
However, today, SUSHI has increased by up to 8% in the last 24 hours. Why so? Because it turns out, there are big institutions that take advantage of this price reduction by buying SUSHI in large quantities.
Buyers were able to dominate SUSHI today, SUSHI demand increased and the price broke the EMA/200 (99114). Currently the price of SUSHI is at the level of 112 thousand. The support area is at the level of 99 thousand – 102 thousand.
Engine Coin (ENJ)
Enjin Coin is a project of Enjin, a company that provides an ecosystem of interconnected blockchain-based gaming products. Enjin’s flagship offering is the Enjin Network, a social gaming platform where users can create websites and clans, chat, and host virtual goods shops.
Enjin allows game developers to tag in-game items on the Ethereum blockchain. It uses Enjin Coin, an ERC-20 token, to back digital assets that are issued using its platform, meaning that goods can be bought, sold and traded with real-world value.
It’s no wonder that with the current rise of the Metaverse, NewsCrypto, a project that has announced the move of its entire commerce and education ecosystem, along with various expansions, into a virtual reality (VR) setting starting in Q4 2022.
To ensure extremely fast and cost-effective transactions, the entire project’s feature set and on-chain token will be built on the Efinity Engine (ENJ) blockchain. With a strong back-end, beginners and experts alike can participate in a cohesive experience that includes the educational aspects of copy trading.
Not only that, reluctant to consider all the available popularity, developer SafeMoon Inu (SMI) saw a gap after finding the positives and negatives of both coins and continues to develop something from the best of the two without all the downsides and has teamed up with Enjin Coin (ENJ) to develop a play-to-earn game called Moonshot Voyage.
The price of the engine is moving up, and the sideway is bullish from the current price of 36 thousand to the price of 46 thousand. Bulls still have the potential to go higher to the 48k – 50k price area. The price support is in the middle bands MA/25 (42234). If support is not strong enough to maintain at the level of 42 thousand, the next support point will be at 37 thousand.
Lastly is IOTA. Dominik, co-founder and chairman of the Iota Foundation, an open-source distributed ledger and cryptocurrency designed for the Internet of Things (IoT) stated that “The biggest difference between crypto in 2017 and crypto in 2022 is the establishment of a tangible business model and use cases in our ecosystem thanks to DeFi. We no longer have to wait for external parties like big companies to drive adoption. We can do it ourselves with apps that introduce much-needed innovation to the very bottom of our economy — finance.”*
Entering 2022 and equipped with the right layer-one network, they aim for “Mass Adoption”. To achieve that, they state that they need to remove entry barriers to buying and selling crypto via regulated fiat bridges (such as banks), overhauling the user experience, reducing fees (anything above $0.1 is unacceptable), and providing a guide rail. so that everyone can easily and safely participate in the decentralized economy (such as security solutions, decentralized identities, and secure wallets).
“In 2022, we will only see an increase in usage and adoption.”
The chart forms a bullish flag pattern on the 4h chart, IOTA was able to break the resistance at 19199 and rise to 20450. The next horizontal resistance is at 22099 – 23136. Support is moving at 19300 – 18863.
5 Bearish Crypto Assets
XinFin Network (XDC)
Coming back to the Bearish crypto asset lineup, this time it was opened by XDC. XinFin is an enterprise-ready hybrid Blockchain technology company optimized for international trade and finance. The XinFin network is backed by a native coin called XDC. The XDC protocol is designed to support smart contracts, 2000TPS, 2 second transaction time, KYC to Masternodes (Validator Nodes). XDC Chain (XinFin Digital Contract) uses XinFin Delegated Proof of Share (XDPoS). CoinMarketCap’s current rating is #94, with an immediate market cap of $992,390,482 USD and has an outstanding supply of 12,305,012,699 XDC and max. supply is not available.
TITAN is a blockchain-based decentralized financial center that provides optimal liquidity solutions for various categories of digital assets with adaptive bonding curves. They not only provide a user-centric decentralized exchange, but also an aggregated liquidity pool that supports intelligent routing of orders. CoinMarketCap’s current rating is #362, with an immediate market cap of $157,423,820 USD and has an outstanding supply of 53,404,160 TITAN and max. supply is not available.
ABCC is a blockchain platform that enables secure payment transactions, helps facilitate retail adoption of cryptocurrencies and makes online shopping with digital assets a more secure and enjoyable experience for end users. CoinMarketCap’s current rating is #387, with an immediate market cap of $141,164,149 USD and has an outstanding supply of 930,854,434 ABBC and max. supply 1,500,000,000 ABCC.
Belt.fi is a protocol that allows users to maintain the stability of their asset positions and get maximum returns with minimal risk, including automated vault incorporation and yield optimization strategies. BELT is Belt Finance’s governance and incentive token. BELT will be distributed to all types of pools. CoinMarketCap’s current rating is #750, with an immediate market cap of $29,100,414 USD and has an outstanding supply of 9,550,122 BELT and max. supply not available.
Last but not least is NXT. They use blockchain to create an entire decentralized feature ecosystem, all of which require Nxt currency. Instead of modifying the original Bitcoin source code, as many altcoins have done, Nxt developers wrote their own code in Java from scratch. Although Nxt is a public blockchain, licenses for a private blockchain based on its software are also available for purchase. Developers refer to Nxt as Blockchain 2.0, providing many applications for more than just keeping a public ledger of transactions. CoinMarketCap’s current rating is #1013, with an immediate market cap of $12,894,098 USD. It has an outstanding supply of 998,999,942 NXT coins and max. supply of 1,000,000,000 NXT coins.
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