On March 14, 2021, Bitcoin (BTC) broke records by rising to its highest price in the range of $ 61,800, as a result of this, many cryptocurrencies began to appear to rise and follow the steps of Bitcoin (BTC) including the crypto financial market that began to be positive.
5 Potential Crypto This Week
Due to the effect of the increase in Bitcoin (BTC) many cryptocurrencies are also affected, with a week that looks positive, there will be a chance of appreciating quite significantly.
In this post, @khezcute will try to share a little analysis of the five cryptocurrencies that have the potential to go higher along with the positive conditions brought about by Bitcoin (BTC).
1. Ethereum (ETH)
The positive correlation between Ethereum (ETH) and Bitcoin (BTC) makes Ethereum (ETH) going higher this week, judging from the financial market conditions that support Bitcoin (BTC) to go up, it is likely that Ethereum (ETH) will be affected directly.
When viewed from the internal side, Ethereum (ETH) has a positive sentiment given by its founder, Vitalik Buterin regarding the solution to the network problems experienced by Ethereum (ETH), these solutions called rollups will soon be carried out in collaboration with Optimism.
The collaboration between Ethereum (ETH) and Optimism is carried out to increase the storage capacity and network speed of Ethereum by 100 times.
A cross-L2 DEX solution that I proposed a few days ago that only requires one side to be smart contract-capable (the other side can just be a simple coin-sending-only rollup or plasma): https://ethresear.ch
— vitalik.eth (VitalikButerin) March 4, 2021
However, even though getting a big update to solve performance problems from Ethereum (ETH) does not mean that it will solve problems with competition, because Ethereum (ETH) still has many rivals such as Polkadot, Binance Smart Chain, Solama, Cardano, Holochain and Ziliqia.
From a technical perspective, Ethereum (ETH) is still seen moving upwards due to its strong presence in the appreciation zone.
For now, the price of Ethereum (ETH) is at the upper limit of $ 1,885, and if this limit is crossed it is likely to bring appreciation up to $ 1,950 to $ 2,000.
For the safety limit or lower limit, it is at $ 1,750 which if it is crossed might bring depreciation up to $ 1,680, but if you look at the correlation with Bitcoin (BTC) and the speech of president Joe Biden on March 16, 2021, it is likely to affect this prediction.
2. Enjin Coin (ENJ)
One of the cryptos that is discussed and discussed by the majority of the market, as a result Enjin Coin (ENJ) has appreciated since early March 2021 which has exceeded 450%, this appreciation occurred due to strong interest in the phenomenon of Non-Fungible Token (NFT), which is currently hot these few weeks.
Enjin is a network provider platform for NFT transactions by providing solutions to problems of transaction speed and capability, Enjin also publishes a platform called Efinity, a decentralized blockchain for NFT.
The number of positive sentiments obtained by Enjin Coin (ENJ) can be predicted to experience a significant appreciation, and this is supported by its technical side.
There is a high probability that appreciation will take place after the correction which is a retest and ends at $ 2.6 before moving back up towards the upper limit at $ 2.8. And if it manages to break the limit, it is likely that this week it will hit $ 3 with the safety barrier at $ 2.6. If the safety barrier is broken, the price could plunge to $ 2.35 as the last safety barrier.
3. VeChain (VET)
VeChain is one of the cryptocurrencies that is likely to experience appreciation, VeChain is included because it is seen mostly due to its technical side.
When viewed from a fundamental point of view, VeChain made an announcement regarding the adoption of its network for real business use.
At VeChain, we focus on unleashing the power of blockchain on the real economy.
Learn how Yizhiji, Sino-French cosmetics brand is using the #VeChain #blockchain to authenticate items and create a unique connection between owner, brand and product! VeChain Supports Startup Sino-French Cosmetics Brand To Produce NFC-equipped Lipsticks
— VeChain Foundation (vechainofficial) March 14, 2021
An example of using VeChain as an application to real business can be seen in the Sino-French company, a cosmetics company from China.
This adoption is one of the concrete forms of VeChain's goal to become a leader in the implementation of blockchain in real sector activities, especially implementation in logistics and supply chain.
From the technical side, it supports appreciation along with this positive sentiment, it can be seen that VeChain (VET) will appreciate quite significantly.
The MACD VeChain indicator still shows a potential cross towards the positive direction with the price still above the MA Cross, and there is likely a small correction towards $ 0.73 before rising again this week towards $ 0.79 with a safety limit at $ 0.70.
4. Phala Network (PHA)
Phala Network (PHA) is one of the cryptos that will experience an increase due to the surrounding phenomenon and the encouragement of several influencers, fundamentally, Phala Network (PHA) has a good potential from providing security on private data for its users with a decentralized system.
Phala Network (PHA) also makes it easy for its users to make transactions on different networks or cross-chains.
#PhalaUpdates:
1. Phala back online in the restarted Rococo testnet in the first batch.
2. Finished pDiem Web3 Grant milestone delivery document.
3. Published Phala Testnet Vendetta 1605 Race V2— Phala Network (@PhalaNetwork) March 14, 2021
From a fundamental point of view, Phala Network (PHA) also gave significant appreciation this week, Phala Network (PHA) also just published their system updates and several trials that went very positive.
Apart from the fundamental side, from the technical side it is also very supportive, as a result of the upward movement which is still broadly strong, even though there is a risk of correction.
For now the correction will head towards $ 1.02 before moving back up to around $ 1.19 this week, but before that happens the current upper limit of $ 1.1 and should be successfully broken, with a lower safety barrier at $ 0.94.
5. FTX Token (FTT)
FTX is a token that may also experience significant appreciation this week, this is due to the increasing factor of interest in the FTX trading exchange, with many events that have the aim of providing information to users about this FTX, and at the same time appreciating the volume that has exceeded. $ 6,726,115, of course this FTX exchange is becoming increasingly attractive.
FTX Token (FTT) is also widely supported by an influencer Kaleo who stated that the FTT price will rise to $ 100 along with the increasing number of FTT users.
$FTT to $100 this summer confirmed.
pic.twitter.com/CryptoKaleo— K A L E O (@CryptoKaleo) March 7, 2021
With so much support, tokens from this exchange have enjoyed significant appreciation since early March 2021, and predictions will continue this week.
The MACD and MA Cross indicators have given positive signs for appreciation, but the RSI indicator indicates a small correction potential, but it seems that this does not really disturb the performance of this FTT.
The odds are that if the price breaks through $ 43.3 then the next appreciation will be at $ 45 to $ 47 this week with a safety barrier at $ 41.
For now, the crypto market still looks positive, especially with the many appreciations of crypto that are still relatively new as innovations.
Disclaimer
All statements and analyzes carried out regarding the possibilities that will occur in this article, are entirely my personal views and analysis, not official investment or trading advice, losses and profits that occur as a result of following the advice of this article, are entirely the responsibility from investors or traders respectively, and it is not the responsibility of me @khezcute as the author of this article.
Read more about cryptocurrencies and blockchain here @khezcute
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