Celo crypto’s bullish momentum died in late July. Ever since then, cryptocurrency has been moving downhill on a strong trend. At the time of writing, Celo coin stands at a price level of $2.25. The price of the cryptocurrency has increased by 5% in the past twenty-four hours while the daily trading volume has shot up by 130%. In the weekly timeframe, Celo crypto has declined by 16% – whether the current upside movement is a reversal of the downward trend will be made clear by upcoming price actions.
Celo crypto technical analysis
The market sentiment for Celo continues to be strongly bearish. Out of the total twenty-six technical indicators, fourteen are giving out an indication of sell with nine indicators standing at a neutral position and one indication at a bullish sell. Both the oscillators and moving averages are strongly bearish with moving averages more so than the oscillators.
Celo crypto technical analysis
Celo crypto’s current price movement has been identified to be mirroring historical price actions. The cryptocurrency is on an upward move currently. If Celo follows the historical price movements of late June, the current bullish momentum can be expected to last only for a short while. After which strong bearish pressure will lead the cryptocurrency to test crucial support levels. It is after the lows that Celo will begin to regain bullish momentum and reach towards breaking the high of the previous top. However, the analysis needs to be validated first by the cryptocurrency.
Celo crypto price prediction
The blockchain targeting crypto adoption of smartphone users appears to have a bullish outlook in the long term. According to Wallet Investor, the cryptocurrency is expected to have a price of $4.38 in a year’s time while the five-year projection is at $12.31. Per the estimates of Digital Coin Price, Celo coin will end the year with a price of $3.28 and is expected to reach towards $9.95 by 2028.
Ethereum coin continues its downtrend although at a decreased rigor. At the time of writing, Ethereum coin stands at a price level of $1,818. The price has fallen by 5% in the past twenty-four hours while the trading volume has decreased by 10%. ETH coin continues to vie for bullish momentum but with strong bear dominance, a bullish divergence cannot be sustained by the cryptocurrency.
Ethereum coin technical analysis
The market sentiment for cryptocurrency continues to be bearish. Out of the total twenty-six technical indicators, sixteen are giving out an indication of sell with the remaining ten indicators standing at a neutral position and zero signals at bullish indication.
Ethereum Coin Technical Analysis
Although the market outlook for Ethereum coin is bearish in the shorter timeframes, would the bearish divergence continue or can the bulls be expected to dominate the market? Per a trader’s analysis, ETH has been identified to be operating in a falling wedge formation. The falling wedge is a bullish pattern. Per the analysis, Ethereum coin has also formed a coherent wave count inside the falling wedge. A pullback from the lower boundary of the formation can be expected in the upcoming days. If the pullback is successful and the onset of bullish momentum begins, a break out from the formation will become likely. In that case, the potential price target set at $2,250 will be activated.
What is going on in Ethereum coin’s space?
Ethereum – the second-largest cryptocurrency – is an integral part of the crypto space because of its offering of decentralized finance through smart contracts. The aim of the network is to become the global platform for decentralized apps. The decentralized finance lending network Aave has announced to “build Twitter on Ethereum”. The co-founder of Aave, StaniKulechov, has tweeted the platform will give greater control to the audience. The news is one example of what Ethereum is capable of while the crypto space and its uses are still being explored.
Bitcoin (BTC) – the king of the market – had crashed brutally in the market correction after the 2021 bull run. The sentiment, although largely bearish in the short term, is still unclear. It is expected of the cryptocurrency to reach towards the high if not more, observed during the bull run. On the other hand, the prolonged bearish momentum has also led to doubts about the future of cryptocurrency.
At the time of writing, BTC coin stands at a price level of $30,616. The price has declined by 3% in the daily timeframe – marked by decreased volatility – while the trading volume has gone down by 7%. The market dominance of the king of cryptocurrency stands at 46%.
The market outlook for Bitcoin continues to be bearish given the dominance of the bears. Out of the total technical indicators, fifteen are giving out a signal of sell with nine indicators standing at a neutral position and only two indicators at a buy position. The oscillators are neutral while the moving averages suggest a strong sell.
Bitcoin (BTC) price prediction – To $100,000?
According to a poll issued by Santiment – the crypto data analytics firm – on Twitter, users are bullish on Bitcoin. Thirty percent of the poll respondents think that Bitcoin will cross $100,000 during 2021 while eleven percent voted that BTC will never cross $100,000. Is it possible for Bitcoin to cross $100,000 that too in 2021? Per the estimates of Wallet investor, Bitcoin’s one-year forecast places the cryptocurrency at $58,136 while the five-year projection suggests a price of $163,008. Digital Coin Price predicts Bitcoin will end the year with a price level of $47,478 and the $100,000 mark will be crossed in 2026.
For many, the question of $100,000 for Bitcoin remains a “when” and not an “if”. While the cryptocurrency may be bearish in the short-term, it has been established as a digital asset and a store of value; hence, it is expected to only rise in value.
Polkadot (DOT) has been bearish ever since the establishment of its all-time high. However, the bearish momentum has slowed down in the recent timeframes. Although Polkadot is still moving downwards, it appears to be entering a consolidation phase with decreased bearish divergence. At the time of writing, Polkadot stands at a price level of $12.12. The price has stayed relatively stable in the daily timeframe with only a slight decrease of 3%. The daily trading volume has also decreased by 6%.
Polkadot (DOT) technical analysis
The market outlook for the cryptocurrency continues to be bearish. Out of the total twenty-six technical indicators, fifteen are giving out a bearish indication of sell with nine standing at a neutral position and only two indications at buy. The oscillators have turned neutral while the moving averages continue to be strongly bearish.
Polkadot (DOT) technical analysis
Polkadot (DOT) had formed a confluence of its up and down trend. In the shorter timeframes, the cryptocurrency is trying to reach upwards although the bears still dominate the market and upward trajectories cannot be sustained. If the current somewhat consolidation period results in the dominance of bulls, the immediate resistance levels will lie at the price level of $12.57 followed by $13.01. However, it is more likely for the cryptocurrency to continue moving downwards. The price level at $10.44 will act as a strong support level for the cryptocurrency.
Polkadot long-term price prediction
Although the cryptocurrency is bearish in the shorter timeframes, Polkadot focuses on the interoperability of blockchains – a proposition that is becoming more and more relevant to the blockchain space – which may result in a price explosion of Polkadot in the longer timeframes. The long-term price projections are; hence, bullish for Polkadot. Per the estimates of Wallet Investor, the one-year price prediction for Polkadot is at $56. Digital Coin Price predicts the same price level of $56 for Polkadot but for the year 2028.
Filecoin (FIL) had been declining sharply since the beginning of May. The bullish momentum of the bull run got lost as the bears began dominating the crypto market. Filecoin had been declining since with some minor upside movements that could not be sustained. At the time of writing, Filecoin stands at a price level of $46.57. The price had declined very slightly in the past twenty-four hours while the trading volume has increased. The volatility of the cryptocurrency has declined greatly, although the bulls are still dormant.
Filecoin (FIL) technical analysis
The market outlook for the cryptocurrency continues to be bearish. Out of the total twenty-six technical indicators, fifteen are giving out an indication of sell with nine indicators standing at a neutral position and only two indicators at a buy position.
Filecoin (FIL) technical analysis
Filecoin (FIL) had been identified to be operating in a descending channel formation since the beginning of July. The cryptocurrency had been decreasing sharply. After testing the support level at the lower boundary of the channel, Filecoin (FIL) saw slight bullish momentum and began moving upwards inside the channel. If the bullish momentum can be regained then an upward breakout from the channel is likely. In that case, the price targets at $55.20 followed by $73.55 will be activated. The support level at $43.5 at the lower boundary can be retested for an upside pullback or if the level fails to hold then the support level at $39.0 will help stabilize the cryptocurrency.
Filecoin (FIL) price prediction
The decentralized storage platform aims to “store humanity’s most important information”. With decentralization gaining momentum, Filecoin and other decentralized solutions will gain more importance. The price projections for Filecoin are bullish. Wallet Investor predicts a price of $575 in five years’ time – a staggering increase of 1,150%. Digital Coin Price is not as bullish on the cryptocurrency and projects a price of $163 by the end of the year 2026.
Tron (TRX) coin had been trending downwards as the whole cryptocurrency market turned bearish after the high of the 2021 bull run. The cryptocurrency suffered from some major corrections but was able to somewhat restore an upward momentum. At the time of writing, Tron crypto stands at a price level of $0.055. The cryptocurrency has been relatively stable in the past twenty-four hours with only a minor downside movement. The daily trading volume, on the other hand, has declined by more than 10%.
Tron (TRX) technical analysis
The market sentiment for Tron cryptocurrency is bearish. Out of the total twenty-six technical indicators, fifteen are giving out an indication of sell with eight indicators at neutral and only three standing at a buy position. The oscillators are neutral while the moving averages suggest a strong downtrend in the daily timeframe.
Tron (TRX) technical analysis
The bearish momentum of Tron is going strong. The cryptocurrency has been identified to be operating with a descending trend line since the beginning of July. The trend line has become even steeper as the bears further strengthened. Although a slight decrease can be observed in the bearish momentum with price volatility being decreased, the potential price target for Tron lies at the support level of $0.049. There is still a likelihood that the cryptocurrency will test the price level. However, the recent consolidating price movements may also suggest towards the end of the dominance of the bears. The upcoming price action will prove to be crucial for cryptocurrency.
Tron (TRX) price prediction
Tron is an operating system based on the blockchain which focuses on the content sharing and entertainment space. The blockchain is also known for its user friendliness in decentralized app development. Despite the current bearish outlook of the cryptocurrency, the long-term price forecasts are bullish. Tron is considered to be one of the good projects in the market with locked potential. The network regards its potential transaction per second to be at 2,000.
According to the estimates of Wallet Investor, Tron will be operating at a price level of $0.11 in a year’s time while the five-year projection places the cryptocurrency at $0.35. Digital Coin Price projects a similar path for the price of TRX crypto. Per their estimates, Tron will end 2021 with a price of $0.08 and reach towards $0.24 by 2028.
EOS (EOS) cryptocurrency has observed a decrease in its bearish momentum as the strong downward trajectory appears to have been broken. EOS coin continues to be bearish but the price action is consolidating with decreased volatility. At the time of writing, EOS stands at a price level of $3.66. The price has declined less than one percent in the past twenty-four hours while the trading volume has declined by 20%. The twenty-seventh largest cryptocurrency is in an indecisive zone.
The market outlook for cryptocurrency continues to be bearish. Out of the total twenty-six technical indicators, fourteen are giving out an indication of sell with ten indicators standing at a neutral position and only two signals bullish at a buy indication. The oscillators are neutral while the moving averages persist at a bearish outlook in the daily timeframe.
What is EOS and is it a good investment in 2021?
EOS is working towards the mainstream adoption and acceptance of blockchain technology. The platform of EOS is designed to help developers create decentralized applications with ease. In order to achieve its goal of blockchain technology’s adoption, EOS’s unique offering is the ease and simplicity of use. When compared with rivals, the platform of EOS comes out to be more user-friendly. EOS also takes further steps to ensure a better user experience through a variety of educational resources made available on the network for developers.
But is it a good investment in 2021? EOS is the twenty-seventh largest cryptocurrency in the market. Generally speaking, it is expected of legit cryptocurrencies to grow in the long term as blockchain technology will become increasingly relevant in the future. But with EOS’s vision, its focus of user experience, and scalability, the project can be considered one of the good bets in the market.
The price projections for EOS in the long-term are also bullish. Wallet Investor estimates the cryptocurrency to be operating at a price level of $4.67 in a year’s time while the five-year projection estimates a price level of $6.21. Digital Coin Price is more bullish on the cryptocurrency’s future. Per their estimates, EOS crypto will be standing at a price level of $5.4 by the end of the year while the price in 2028 is expected to be $16.54.
NEM or New Economy Movement aims to revolutionize the blockchain technology. With the tagline “Smart Asset Blockchain, Built for Performance”, NEM aims to help bring about the next generation of interoperable blockchains. NEM offers a seamless interaction between public and private blockchains. Through NEM, any kind of digital asset like tokens, files, etc. can be easily transferred.
History of the cryptocurrency
NEM is a hard fork of a popular cryptocurrency and payment platform, NXT. NEM evolved from the cryptocurrency in 2015. The organization behind NEM is a not-for-profit based in Singapore by the name of nem.io. After the fork, the development team decided to take the project a step further with its own codebase and more features. The team ensured to make NEM much more scalable and faster. It resulted in a platform that bore next to no resemblance with the original NXT.
The network was also given its own cryptocurrency by the name of XEM. XEM is not utilized as a payment method but it has still managed to climb the market ladder and currently is the sixty-third largest cryptocurrency by market capitalization.
NEM (XEM) fundamental analysis
NEM is not considered to have a large brand presence online but despite the fact, the support for the cryptocurrency is phenomenal. It may be considered as one of the most underrated cryptocurrencies with zero hype when compared with cryptocurrencies like Bitcoin. NEM also offers many advantages over the king of the market in terms of transaction speed and working mechanism.
NEM blockchain presents a unique mechanism for its high efficiency – the Proof of Importance (POI). The Proof-of-Work mechanism is one of the most common staking mechanisms in the crypto space but it is also an energy-intensive process which makes it undesirable. The NEM blockchain is much more efficient because of its POI mechanism which gives more importance to how much users are invested in XEM as evident by their wallets and holding period.
The development team of the network continues to strive for excellence and developments continue for NEM. The team has recently announced the successful launch of its Symbol mainnet. Symbol is described as an interoperable blockchain curated for asset tokenization. The launch of the Symbol mainnet also makes NEM a two-chain ecosystem.
XEM Technical Analysis
NEM has become the best performing cryptocurrency in the daily timeframe with a gain of 20% in the past twenty-four hours. The downtrend of the cryptocurrency may appear to be reversed as it gains upwards. At the time of writing, XEM stands at a price level of $0.14. The daily trading volume, too, has shot upwards by 300%. Is the market for XEM in a trend reversal?
The technical indicate a bullish market outlook for NEM. Out of the total twenty-six technical indicators, eleven are suggesting a signal of buy with nine at a neutral position and only six indicators bearish at a sell indication. Both the oscillators and moving averages are bullish.
XEM Technical Analysis
XEM coin had been operating in a descending channel formation since the beginning of July. However, the recent bullish trend in the market resulted in a break out from the descending channel towards the upside. Some crucial Fibonacci Retracement levels can be identified for the cryptocurrency. At the time of writing, XEM coin can be find reaching above the 1 Fibonacci Retracement at the price level of $0.14. The level had been resistance and can soon be established as strong support. The next resistance lies at the 1.618 Fibonacci level at the price of $0.16 which can also be regarded as the target price. If the upward trajectory is not maintained, XEM crypto can find various support levels to help it stabilize.
NEM (XEM) historical price movements
After its launch, the cryptocurrency had been operating below $0.01. The performance of XEM was subpar and just when all hope was lost, the bull run of 2017 occurred. XEM crypto established its all-time high at $2.09 during the bull run and gave a performance that wowed the market. The cryptocurrency also reached the top twenty largest cryptocurrencies in terms of market cap. However, the price could not be sustained as the market crashed in 2018, and XEM, once again, fell below $0.1.
XEM was once again pushed upwards by the bull run of 2021, although the performance was not as well as it may have been expected as XEM could not break its all-time high established in 2018. XEM was only able to establish its 52-week high at $0.77.
What does the future have in hold for NEM (XEM)?
The future projections for cryptocurrency are optimistic. A general upward trend has been confirmed by various estimations although the level may vary. According to Wallet Investor, XEM crypto is expected to be operating at a price level of $0.28 in a year’s time while the five-year forecast shows a price of $0.93 – an increase of nearly 550% in five years which is commendable. If the forecast of Wallet Investor plays out then investing $2,500 in XEM at the current price will result in gains of nearly $14,000 after five years. Isn’t that great?
Digital Coin Price is also bullish on the cryptocurrency and predicts XEM to end the year with a price of $0.21. Per their estimates, XEM is expected to reach towards $0.62 by 2028. Trading beasts on the other hand is not bullish on the cryptocurrency and projects a price of $0.23 by 2024 while suggesting near stagnant price movements for XEM.
Although a word of caution, these are bullish estimates, and the crypto market is notoriously known for its unpredictability and volatility so anything can happen at any time. Despite the bullish future projections, if you are not careful, XEM or any other cryptocurrency for that matter can tank all your investment. Hence, as much as a risk-lover you are, caution must always be practiced.
Uniswap (UNI) has been declining after seeing a slight bullish momentum in the market. Currently, the cryptocurrency is moving in tandem with the market – going downhill. At the time of writing, Uniswap stands at a price level of $17.16. The price has declined by 4% in the past twenty-four hours while the trading volume has dropped by 12%.
Uniswap (UNI) technical analysis
The market outlook for UNI coin is strongly bearish. Out of the total twenty-six technical indicators, sixteen are giving out a signal of sell with ten indicators standing at a neutral position with zero indicators at buy. Both the oscillators and moving averages are strongly bearish.
Uniswap (UNI) technical analysis
Uniswap has been identified to be operating in a triangle formation. The cryptocurrency has been oscillating up and down inside the formation and the bearish momentum in the market indicates towards a break out to the downside from the formation. The lower boundary of the formation has been established as a strong support level and if the level is not sustained, the bears can gain momentum. If the bearish scenario plays out, the price target set at $9.90 will be activated followed by $6.90.
Uniswap’s “DeFi Education Fund” dumped
Uniswap had been tangled in controversy because of its DeFi Education Fund which is a lobby fund. The DEF was introduced by Harvard Law Blockchain – a student organization aimed at increasing the adoption and awareness of the blockchain technology. The lobby fund has received $20 million or 1 million UNI tokens to be used for the purpose and the fund is to be allocated over a period of five years. Many users were not in support of the DEF already; however, the fund liquidated $10 million right away which further worsened the situation. The organization argues that the liquidation gives them more flexibility in spending the funds.
Despite the bearish outlook of the cryptocurrency market, Chiliz (CHZ) has been increasingly bullish. At the time of writing, the cryptocurrency stands at a price level of $0.263. The cryptocurrency has moved up by 9% in the past twenty-four hours while the trading volume has shot up by 270%. The fifty-first largest cryptocurrency has been gaining in market capitalization as well.
Chiliz (CHZ) technical analysis
The market sentiment for the cryptocurrency is bullish. Out of the total twenty-six technical indicators, eleven are giving out an indication of buy with ten indicators standing at a neutral position and only five indicators bearish. Both the oscillators and moving averages are bullish.
Chiliz (CHZ) technical analysis
Chiliz crypto has been identified to be operating on an upward wave count. The bullish momentum is going strong in the market with the wave count lying on various important resistance levels. Currently, Chiliz lies at the first wave. The immediate resistance level can be found at the completion of the first wave at the price level of $0.33 followed by $42 and $0.53. The resistance levels will also be translated into potential price targets for the cryptocurrency if the upward trajectory is sustained.
What is Chiliz (CHZ) and why is it bullish?
Chiliz is the native token of the fan engagement and reward platform called Socios.com which is the first of its kind. The social platform is based on the blockchain of Chiliz. Sport fans can trade and purchase Fan Tokens which can also act as a share of influence.
Kraken – the crypto exchange – recently listedChiliz (CHZ) along with some other cryptocurrencies, namely, Axie Infinity (AXIE), Origin Protocol (OGN), and Perpetual Protocol (PERP). The trading of the assets on Kraken started on July 13th and may have played a role in the bullish momentum of Chiliz.
