The cryptocurrency market is volatile. One day it’s up, and the next day it’s down. The price of a cryptocurrency can fluctuate very much in just a couple of hours. Russian invasion made people lose confidence in cryptocurrencies, resulting in an overall price fall. It is difficult to predict which cryptocurrencies will be successful in the future, but here are top Crypto to Keep an eye on this week:
Ethereum (ETH) Price Analysis
Ethereum is a decentralized platform that runs smart contracts. The Ethereum blockchain is a public, open-source platform that can run smart contracts to issue tokens. The Russian invasion of Ukraine has caused a significant shift in the geopolitical landscape, which has led to a significant fall in the price of Ethereum.
ETH is a cryptocurrency that has been trading for a value of $2,524.25 and a market capitalisation of 302 billion dollars. There are 119,864,524 coins in supply.
On the 1D timeframe, $ETH/USDT formed the symmetrical triangle where the price action has broken down the Support trendline, and retest is yet to be done, which is why we will wait for the daily closure.
Axie Infinity (AXS) Price Analysis
AXS is a type of cryptocurrency that can govern Axie Infinity, a video game built by Sky Mavis from Vietnam. It allows you to trade items you get from playing the video game. Axie Infinity’s price fall can be attributed to this event because Russia invaded Ukraine, which led to an overall fall in the price.
AXS is a cryptocurrency that has been trading for a value of $47.84 and a market capitalization of 2.9 billion dollars. There are 270,000,000 coins in supply.
On the 1D timeframe, the $AXS/USDT price started to fall just after it had touched its all-time high and has been trading in a downtrend for a couple of months. It has formed out the Bullish Shark Harmonic pattern where the price action can be reversed from its Potential level reversal zone level marked at the 1.13 level.
The Graph (GRT) Price Analysis
The Graph is a protocol for querying apps like Ethereum and IPFS. This means anyone can make an open API for their app, called a subgraph. This makes the data in that app easily accessible to other people. The Graph price fall was due to the Russian invasion of Ukraine.
GRT is a cryptocurrency that has been trading for a value of $0.3373 and a market capitalization of 1.5 billion dollars. There are 10,057,044,431 coins in supply.
On 1W timeframe, $GRT/USDT touched its all-time high just a couple of months after its launch, but after that, its price took an intense dive and started trading in a downtrend. It is now trying to break out the Strongest Weekly horizontal support level.
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