February 11, 2020

5 Cryptocurrencies You’d Better Pay Attention To

If you follow the news in the world of the cryptocurrency business, then you know that since the beginning of this year there has been a fairly positive mood in the digital asset market. So many altcoins strengthened their positions and exceeded the leading Bitcoin, which in turn exceeded its maximum of $ 10,000. And despite such a promising position, many miners are still focused on the predicted fall of the digital giant.

But here it’s worth stopping and clarifying the point that, according to many investors, such a decrease in the rate of trading will strengthen Bitcoin’s position as the best digital asset and thereby allow it to compete with gold in the digital age.

Tezos

Let’s start with Tezos (XTZ) because its rally exceeds 40% throughout the past week, and this is 77% better than the previous month. With this situation, we should expect a further rapid rise in the asset, which is expected to face resistance and stop growing at 2.50 and above 2.90.

Due to the sharp increase in the last two weeks, RSI entered the overbought zone, which indicates a possible consolidation or a slight correction in the next few days.

The case showed that usually after such a breakthrough growth, the pricing movement goes through the second breakthrough path to check price stability. Thus, a retest of 1.85 is possible. Once the price is settled there is a possibility of buying with minimal risk.

Binance Coin

Binance Coin (BNB) for a long time did not get into the top digital asset, but thanks to the release of new futures Zcash (ZEC) and BNB, as well as the introduction of support for the Russian ruble, which allows users to make purchases with a Visa credit card.

An important role in this breakthrough is also played by the release of the Binance Cloud project, which will take place in the near future.

So, the BNB mark this week reached a high of $ 18.50 and $ 21.80. This shows that the pair BNB / USD is developing rapidly. The price reached $ 23.5213, which is likely to become stiff resistance.

It is worth assuming that the price will again take a downward trend, but will not lose its position, and a break above this level will probably open a new uptrend.

Bitcoin SV

The engine of progress for Bitcoin SV (BSV) is the Genesis update, the essence of which is that, by default, the hard block size was removed for hard drives. Such actions provide the ability to control consensus on block size and transaction throughput on the network.

It is worth noting that a drop in the pricing of a digital asset from $ 458.74 to $ 244.34, due to bullish market sentiment, did not scare investors. A factor similar to Bitcoin plays an important role here: rumors about the upcoming BSV price reduction in April.

If the price remains below $ 337.80, the BSV / USD pair may remain in the range for several more weeks. However, if the bulls can keep the price above $ 337.80, a rally to life highs of $ 458.74 is possible. RSI remains in the overbought zone, which requires caution.

Ethereum

Regarding ETH, it rose 17% this week, which put it in our place. But the main impetus in his movement was the announcement of the launch of Ethereum 2.0 – Phase 0, the release of which is scheduled for the 5th anniversary of Ethereum 1.0.

Remain bullish, this can only be judged by analyzing the pricing schedule. The ETH / USD pair overcame resistance and stopped at $ 197.75. A bearish trend is also expected, which will fix the value of the asset at around $ 235.70. If the price falls from this level, it can remain in the range from 235.70 to 197.75 dollars for several days.

Chainlink

We can only speculate on the growth of Chainlink (LINK), but the fact that its cost has increased by 15% remains a fact. The bulls managed to take a new trend and bring LINK out of the stop position in which it had been for a long time. And despite the assumption that the bears will still win their positions, we can say for sure that the goal of breaking the range is $ 4.5, which is slightly lower than the lifetime maximum of $ 4.5826.

But all this can be in jeopardy, if the bulls fail to keep the price above $ 3 then the pair can extend the consolidation for another few weeks.

Disclaimer

This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose.

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