As the world of cryptocurrency continues to gain popularity, investors are always looking for good assets with the potential for high returns. This article will discuss three top cryptocurrencies investors should consider buying this week: MATIC, DOT, and UNI.
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What is BYDFi?
BYDFi is a cryptocurrency exchange and derivatives trading platform founded in 2014. BYDFi offers various cryptocurrency trading services, including spot trading, futures trading, options trading, and copy trading. The platform supports a range of cryptocurrencies, including Bitcoin, Ethereum, Ripple, Litecoin, and many more.
One of the unique features of BYDFi is its simplified trading interface, designed to be user-friendly and accessible to traders of all levels of experience. The platform also offers low trading fees and a range of trading tools and indicators to help users make informed trading decisions.
MATIC, also known as Polygon, has seen an impressive rise in value over the past few months. This cryptocurrency is a layer-two scaling solution that aims to solve the scalability issues faced by the Ethereum network. With the high gas fees and slow transaction times on the Ethereum network, Polygon’s solution has proven to be a game-changer for developers and investors alike.
Polygon has seen a significant increase in adoption, with over 500 decentralized applications (dApps) built on its network. This growth has attracted the attention of many investors, and the price of MATIC has surged to new all-time highs.
The $1.40 resistance area may be tested again by Polygon’s price, as indicated by the weekly RSI, which continues to rise and is now above 50. If the rally fails to maintain its momentum, there is a chance that the price could dip back down to the $0.80 support zone. Even though the technical analysis from the daily time frame shows a corrective phase for MATIC price, it looks like it is entering a rally. Once this upward move is completed, another decrease may then follow.
In the 4H timeframe, the price action of $MATIC/USDT has broken the Ascending channel support trendline. Currently, the price is moving inside the bear flag chart pattern. Therefore, we must wait for a successful breakout to confirm its next direction of $MATIC.
Polkadot (DOT) is another cryptocurrency that has gained significant attention in the crypto market. Polkadot is a blockchain network that allows different blockchains to connect and communicate. This interoperability feature has attracted many developers to build decentralized applications on the Polkadot network.
The Polkadot network has also introduced a unique governance system that allows holders of DOT tokens to vote on network upgrades and changes. This governance feature has further increased the utility of DOT tokens, making them an attractive investment option.
Recently, the Polkadot network has seen several advancements that can propel its growth. These new developments are expected to have a positive impact on the ecosystem. For example, Polkadot’s NFT ecosystem had a noteworthy update. It issued ‘proof-of-attendance’ NFTs for the DUNDAS fashion label.
In the 2H timeframe, the price action of $DOT/USDT is moving inside the Ascending triangle. Currently, the price is getting rejected from the horizontal S/R zone. Therefore, we have to wait for a successful breakout or breakout, and after a successful retest, we will enter it.
Uniswap (UNI) is a decentralized exchange built on the Ethereum network. This exchange allows users to trade cryptocurrencies without needing a central authority. The UNI token is a governance token, allowing holders to vote on upgrades and changes to the Uniswap protocol.
Uniswap has become one of the most popular decentralized exchanges in the crypto market, with a high trading volume and liquidity. The growing demand for decentralized exchanges and the increasing popularity of the Uniswap platform have made UNI tokens a promising investment opportunity.
Uniswap has become a go-to source for many new projects regarding trading due to its cost & time efficiency. This makes it an essential part of the Ethereum ecosystem, allowing projects to be quickly and cheaply listed on exchanges.
In the 2H timeframe, the price action of $UNI/USDT is Accumulating inside the bear flag. 4EMAs is above the price action. We have to wait for a successful breakout to confirm its next move.
In conclusion, these three cryptocurrencies – MATIC, DOT, and UNI – have shown impressive growth potential in recent months. Their unique features, growing adoption, and increasing utility have made them attractive investment options for investors looking to diversify their portfolios. However, as with any investment, it is important to research and invests wisely.
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