This week, the crypto market is looking up with more coins showing green than red. This week, the crypto market is expected to see a lot of volatility. We will take a look at some of the cryptos that are worth keeping an eye on this week.
Table of Contents
Bitcoin (BTC)
On the contrary, 42.42% of BTC holders are out of money according to the current price. However, the bottom is still strong, and 46.49% of all addresses holding BTC are in the money.
The Bitcoin network hash rate has decreased significantly over the last month, reaching a bottom at 173.62 TH/s from a high of just 249.89 million TH/sn TH/s. Mining difficulty is also at an all-time high, with only 2 million $BTC mined through mining.
BTC is currently priced at $39,705.24 and ranks #1 on CoinMarketCap. BTC has a supply of 19,030,793 coins with a market cap of 755 billion dollars.
In the 4H timeframe, the price action of $BTC/USDT formed a bullish falling wedge chart pattern. BTC is consolidating in a falling wedge. We have to wait for a flare-up.
Ethereum (ETH)
The amount of $ETH on centralized exchanges decreased by 2.56m over four months in 2022. The reserve balance continues to decrease with each passing month, decreasing by 595.46 ETH in the last 24 hours.
ETH is currently priced at $2,927.70 and ranks #2 on CoinMarketCap. ETH has a supply of infinite coins with a market cap of 353 billion dollars.
On the 1D timeframe, $ETH/USDT formed an ascending triangle where the price action has broken down the Support Trendline, Currently testing out the Resistance region. Have to wait for the daily closure to see out further.
STEPN (GMT)
STEPN is a crypto token that uses the Solana blockchain. Experts agree that an increase in demand for it has been caused by the hype of DeFI projects that reward users with tokens. STEPN rewards users for walking and active lifestyle habits.
GMT is currently priced at $3.28 and ranks #50 on CoinMarketCap. GMT has a supply of 6,000,000,000 coins with a market cap of 1.9 billion dollars.
In the 1D timeframe, the price action of $GMT/USDT Formed a Bullish Pennant pattern where the price action broke out of the pennant and formed an impulsive candle move and where the price action again bounced back from the horizontal Support level and Formed a New ALL-TIME HIGH level till the 4.17$ level.
TRON (TRX)
Tron is a decentralized platform with its cryptocurrency, TRX. Its goal is to develop and host a digital content entertainment system where users can share and consume content easily. TRON is a reliable, inexpensive cryptocurrency for anyone looking to trade in the crypto market.
TRX is currently priced at $0.08306 and ranks #20 on CoinMarketCap. TRX has a supply of infinite coins with a market cap of 8.4 billion dollars.
In the 1D timeframe, the price action of $TRX/USDT Formed a Descending Triangle Pattern where it has broken out the resistance trendline, and a retest is yet pending.
Huobi Token (HT)
The Huobi Token (HT) is an Ethereum-based digital asset issued by Houbi Group, the operator of the Huobi cryptocurrency exchange. The token can vote on decisions, receive crypto rewards, and trade with other cryptocurrencies listed on the exchange. HUOBI is an excellent choice if you plan to keep your money with us for the long term. If you invest a 5-year minimum, we will give you stability and a good return.
HT is currently priced at $9.58 and ranks #61 on CoinMarketCap. HT has a supply of 500,000,000 coins with a market cap of 1.4 billion dollars.
For latest prices visit: CoinCodeCap Markets.
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Closing Thoughts
Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we just discussed about 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.
