The cryptocurrency market is always full of surprises and opportunities. Every week, new developments, trends, and events can affect the prices and performance of various coins.
This article will look at five cryptos worth watching this week based on their recent news, technical analysis, and market sentiment.
Table of Contents
The Graph (GRT Price Analysis)
The Graph is a decentralized protocol for indexing and querying data from blockchains. It allows anyone to create open APIs called subgraphs that can be used to access blockchain data quickly and reliably. The Graph has been gaining popularity among developers and users who need to interact with various decentralized applications (dApps) and protocols.
The Graph’s native token, GRT, is used to pay for the services provided by the network, such as indexing, querying, and curating subgraphs.
The price of GRT has been showing a positive trend in the past week, rising by 1.92% from $0.10 to $0.11. The coin is currently trading near its resistance zone at $0.12, which could be a potential breakout point if the bullish momentum continues. On the other hand, if the price fails to break above this level, it could retrace back to its support zone at $0.09, where buyers may step in to push the price up again.
Descending triangle in action, seems a breakdown is imminent, let’s see how PA plays out.
Injective (INJ Price Analysis)
Injective is a blockchain-based platform that enables decentralized trading of various financial instruments, such as spot, futures, options, and perpetual markets. Injective aims to provide a fast, secure, and interoperable solution for traders who want to access diverse and innovative markets without intermediaries or fees.
Injective’s native token, INJ, is used to pay for fees, participate in governance, stake for network security, and access exclusive features on the platform.
The price of INJ has been fluctuating in the past week, ranging from $7.59 to $7.74. The coin is currently trading near its support zone at $7.60, which could be a good entry point for buyers who expect the price to bounce back. Alternatively, if the price breaks below this level, it could drop to its next support zone at $7.00, where more buyers may emerge. On the upside, the coin faces resistance at $8.00, which could be a challenging level to overcome.
H&S printed, a retest will confirm the breakdown, entry upon breaking would be wise.
Fetch.ai (FET Price Analysis)
Fetch.ai is a blockchain-powered platform that leverages artificial intelligence (AI) and machine learning (ML) to create a decentralized network of autonomous agents that can perform various tasks and transactions. Fetch.ai aims to enable a new era of smart contracts that can interact with real-world data and systems in a seamless and efficient way.
Fetch.ai’s native token, FET, is used to power the network’s operations, such as creating and running agents, accessing data sources, executing smart contracts, and rewarding participants.
The price of FET has risen by 10% in 1 week. FET is currently trading at $0.22 with market cap of $177mn.
Consolidating in bear flag, technically a breakdown is expected.
Render (RNDR Price Analysis)
Render is a decentralized GPU rendering network that allows anyone to access and utilize high-performance computing power for various purposes, such as 3D rendering, gaming, VR/AR, AI, and more. Render leverages the power of idle GPUs around the world and connects them to users who need them, creating a peer-to-peer marketplace that benefits both parties.
Render’s native token, RNDR, is used to pay for the services provided by the network, such as rendering jobs, storage, bandwidth, and security.
RNDR is currently trading at $1.74 with market cap of $642.5mn. The circulating supply stands at 369.9mn tokens.
Consolidated perfectly in bull flag, the breakout would be massive.
SingularityNET (AGIX Price Analysis)
SingularityNET is a blockchain-based platform that enables the creation, sharing, and monetization of AI services and applications. SingularityNET aims to democratize access to AI technology and foster a global network of AI agents that can collaborate and cooperate with each other.
SingularityNET’s native token, AGIX, is used to pay for the services offered by the network, such as data analysis, image processing, natural language processing, and more.
AGIX is currently trading at $0.22 with market cap of $268mn. The circulating supply stands at 1.2bn tokens.
Bounced perfectly from trendline support, double bottom in making, PA shall be observed & then entry could be taken.
Conclusion
These are some of the top 5 cryptos to Keep an Eye on This Week based on their recent news, technical analysis, and market sentiment. Of course, there are many other factors that can affect the prices and performance of these coins, such as global events, regulatory developments, industry trends, and more.
Therefore, it is always advisable to do your own research before investing in any cryptocurrency and never invest more than you can afford to lose.
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