This week, many cryptocurrencies might be on the rise. Some cryptocurrencies that can prove to be a good trade are HNT, ATOM, and FLOW.
Helium (HNT)
The Helium project’s focus on the integration of blockchain technology with the fast-growing area of the Internet of Things (IoT) gives the project long-term value.
The upcoming Helium event on Sept. 20 in New York promises to unveil some exciting use cases and will discuss intriguing opportunities this new project is looking to take on.
However, given no information about what will be announced, this catalyst is more speculative than anything.
In the 4H timeframe, the price action of $HNT/USDT rises from the strong demand and support trendline. Currently, it is going to break its resistance zone. However, if it breaks and retests successfully, it can go upwards.
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Cosmos (ATOM)
The Cosmos Blockchain is a platform that aims to create a fully decentralized ecosystem of Defi products and services. It’s supported by its cryptocurrency called ATOM. Cosmos connects to other blockchains through IBC, their protocol that facilitates the free flow of assets and data across sovereign state systems.
Although the ATOM price has decreased recently, it could potentially touch $30. Experts think that this is due to increased interest in younger investors.
As of writing, ATOM is up by 4% and trading at $11.28 with a current supply of 286,370,297 Coins.
In the 1D timeframe, the price action of $ATOM/USDT consolidates inside the ascending channel. The price is rising from the support trendline of the channel. Currently, it is working below the horizontal resistance zone.
If it breaks its resistance and retests successfully, it can go upwards. Hence, we will see a good gain in it.
Flow (FLOW)
Meta supports NFTs from the Ethereum blockchain, the layer two companion blockchain Polygon, and Flow, a well-known blockchain for NBA Top Shot.
In addition, the company has published a new feature for users in the United States. It lets them cross-post items from the two platforms across Facebook and Instagram.
Flow’s native token FLOW rallied on the news of the Facebook integration. As of Writing, FLOW is up by 11% and trading at $1.91 with a current supply of 1,390,757,889 coins.
In the 1D timeframe, the price action of $FLOW/USDT is trying to break its ascending support trendline. We have to wait for a successful breakout.
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Closing Thoughts
Discipline and Patience are the most critical components of a successful trade. According to the above analysis, the coins we discussed might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.
Disclaimer: Our analysis is for educational purposes.
