BAT Struggles to Sustain Upward Movement as NEM & RVN Break Out
Basic Attention Token (BAT) has bounced at the horizontal support area at $0.49 but has struggled to sustain an upward movement.
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NEM (XEM) has broken out from both a long- and a short-term descending resistance line.
Ravencoin (RVN) has broken out from a descending resistance line.
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BAT
BAT has been decreasing since it reached an all-time high price of $1.69 on April 9. The downward movement led to lows near $0.42 on May 23 to June 22, after which the token bounced. The bounce validated the $0.49 area as support. The area is the 0.786 Fib retracement support level.
However, the upward movement was short-lived, and BAT has returned to the $0.49 support once more. If a breakdown occurs, the next support area would be at $0.28.
Technical indicators are relatively bearish, since the MACD is negative, the Stochastic oscillator has made a bearish cross and the RSI is below 50.
However, the latter also has generated bullish divergence, a sign of an impending bounce.
The shorter-term two-hour chart shows that BAT has broken down from an ascending wedge, which could have been a leading diagonal.
Currently, it is trading right at the 0.618 Fib retracement support level. It seems to be in the process of initiating an upward movement.
The short-term MACD & RSI are both moving upwards.
If the wedge was indeed a leading diagonal, BAT would be expected to increase at least until $0.72.
Highlights
BAT is trading above the $0.49 horizontal support area.
It has broken down from an ascending wedge.
NEM
NEM has been decreasing alongside a descending resistance line since March 3. On June 13, it finally managed to break out, but proceeded to reach another low on June 22. This however validated the line as support (green icon).
The token has been moving upwards since, gradually approaching the $0.24 horizontal resistance area.
Technical indicators are bullish. The RSI is above 50, the MACD is nearly positive, and the Stochastic oscillator has made a bullish cross. These readings support the continuation of the upward movement.
The shorter-term six-hour chart also shows a breakout from a descending resistance line. This aligns with the readings from the daily time-frame in which the token is expected to move towards the $0.24 resistance area.
Highlights
NEM has broken out from a descending resistance line.
There is resistance at $0.24.
RVN
RVN has been following a descending resistance line since May 27. While following it, it proceeded to reach a low of $0.04 on June 22. It has been moving upwards since, and on July 4, it broke out from a descending resistance line.
It seems that the token is currently in the process of beginning its upward movement, which is also supported by the MACD & RSI, which are both increasing. The latter has also moved above the 50 line.
If the token continues moving upwards, the next resistance would be at $0.102, a horizontal resistance area.
Highlights
RVN has broken out from a descending resistance line.
There is resistance at $0.102.
For BeInCrypto’s latest bitcoin (BTC) analysis, click here.
tZERO Crypto Adds Support for Dogecoin (DOGE), USD Coin (USDC) & 0x (ZRX)
NEW YORK, July 15, 2021–(BUSINESS WIRE)–tZERO, a leader in blockchain innovation and liquidity for digital assets, announced today that the tZERO Crypto app, a cryptocurrency trading platform, now supports Dogecoin (DOGE), USD Coin (USDC), and 0x (ZRX), expanding its cryptocurrency offering to a total of ten coins.
tZERO CEO Saum Noursalehi stated, “Today’s announcement in supporting three new coins comes off the heels of the tZERO Crypto app update, which included higher buy limits, additional cryptocurrencies, and faster settlement times. We plan to continue to grow our offering, and improve the functionality and features of the app as we build out our unified product to trade all assets.”
Dogecoin (DOGE)
Dogecoin is a decentralized, peer-to-peer cryptocurrency commonly used for tipping content creators on social media platforms. Founded in 2013, Dogecoin is based on a popular meme of a Shiba Inu dog. One of the key differences of Dogecoin is that it is intentionally abundant - there is no limit to the number of Dogecoin that can be created.
USD Coin (USDC)
USD Coin is an open-source, smart contract-based stablecoin that is backed by the U.S. dollar and issued by regulated financial institutions. USD Coin is a price-stable cryptocurrency - each USD Coin is valued at one U.S. dollar.
0x (ZRX)
Built by 0x Labs in 2017, 0x is a protocol that facilitates the peer-to-peer exchange of Ethereum-based assets.
Launched in June 2019, the tZERO Crypto App allows investors to buy, sell, and hold Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Chainlink (LINK), Dogecoin (DOGE), USD Coin (USDC), 0x (ZRX), Bitcoin SV (BSV), Basic Attention Token (BAT), and Ravencoin (RVN). The tZERO Crypto app is available for download on iOS and Android devices. For more information, visit https://www.tzero.com/trade-assets.
About tZERO
tZERO Group, Inc. (tZERO) and its broker-dealer subsidiaries provide an innovative liquidity platform for private companies and assets. We offer institutional-grade solutions for issuers looking to digitize their capital table through blockchain technology, and trade on a regulated alternative trading system. tZERO, through its broker-dealer subsidiaries, democratizes access to private assets by providing a simple, automated, and efficient trading venue to broker-dealers, institutions, and investors. For more information on tZERO, please visit https://www.tzero.com/.
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tZERO is not a registered broker-dealer, funding portal, underwriter, investment bank, investment adviser or investment manager, and is not providing brokerage, investment banking or underwriting services, recommendations or investment advice to any person, and does not provide any brokerage services. tZERO takes no part in the negotiation or execution of secondary market transactions for the purchase or sale of securities and at no time has possession of investor funds or securities in connection with such transactions.
About tZERO Crypto
tZERO Crypto, Inc. is a wholly owned subsidiary of tZERO Group, Inc. tZERO Crypto, Inc. and tZERO Group, Inc. are not registered broker-dealers, underwriters, investment banks, or investment advisers, and are not providing brokerage, investment banking or underwriting services, recommendations or investment advice to the users of the tZERO Crypto app. No broker-dealer affiliate of tZERO Group, Inc. is involved in the transactions and services offered by the tZERO Crypto App. tZERO Crypto, Inc. is licensed as an authorized money transmitter in every jurisdiction in which it does business that requires such authorization. tZERO Crypto relies upon third-party services to provide fiat and virtual currency custody services to its customers. See the legal disclosures and list of tZERO Crypto, Inc.’s licensing authorities on https://www.tzero.com/crypto-app/licenses.pdf for more information.
Investor Notice
Investors should note that trading securities could involve substantial risks, including no guarantee of returns, costs associated with selling and purchasing, no assurance of liquidity, which could impact the price and ability to sell, and possible loss of principal invested. Further, an investment in single security could mean lack of diversification and, consequently, higher risk. Potential investors are urged to consult a professional adviser regarding any economic, tax, legal or other consequences of trading any securities as described herein.
No Offer, Solicitation, Investment Advice or Recommendations
This release is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security, nor does it constitute an offer to provide investment advisory or other services by tZERO or any of its affiliates, subsidiaries, officers, directors or employees. No reference to any specific security constitutes a recommendation to buy, sell, or hold that security or any other security. Nothing in this release shall be considered a solicitation or offer to buy or sell any security, future, option or other financial instrument or to offer or provide any investment advice or service to any person in any jurisdiction. Nothing contained in this release constitutes investment advice or offers any opinion with respect to the suitability of any security, and the views expressed in this release should not be taken as advice to buy, sell or hold any security. In preparing the information contained in this release, we have not taken into account the investment needs, objectives, and financial circumstances of any particular investor. This information has no regard to the specific investment objectives, financial situation, and particular needs of any specific recipient of this information and investments discussed may not be suitable for all investors. Any views expressed in this release by us were prepared based upon the information available to us at the time such views were written. Changed or additional information could cause such views to change. All information is subject to possible corrections. Information may quickly become unreliable for various reasons, including changes in market conditions or economic circumstances.
Forward-Looking Statements
This release contains forward-looking statements. In addition, from time to time, tZERO, its subsidiaries, or its representatives may make forward-looking statements orally or in writing. These forward-looking statements are based on expectations and projections about future events, which is derived from currently available information. Such forward-looking statements relate to future events or future performance, including financial performance and projections; growth in revenue and earnings; and business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including, without limitation: the ability of tZERO and its subsidiaries to change the direction; tZERO’s ability to keep pace with new technology and changing market needs; and competition. These and other factors may cause actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this release and other statements made from time to time by tZERO, its subsidiaries or their respective representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions. tZERO, its subsidiaries, and its representatives are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this release and other statements made from time to time by tZERO, its subsidiaries or its representatives might not occur.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210715005371/en/
Contacts
tZERO
Alexandra Sotiropoulos, +1-347-293-1416
Magnificent Seven: AXS, FLOW, XRM, RVN, OKB, STX, HBAR
BeInCrypto takes a look at the seven altcoins that increased the most over the past seven days, from July 9 to July 16.
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These altcoins are:
Axie Infinity (AXS) : 81.17%
Flow (FLOW) : 34.43%
NEM (XEM) : 18.86%
Ravencoin (RVN) : 13.42%
OKB (OKB) : 11.03%
Stacks (STX) : 9.01%
Hedera Hashgraph (HBAR) : 8.97%
AXS
AXS has been rapidly moving upwards since June 22. It managed to increase by 921% in only 23 days, leading to a new all-time high price of $29.20 on July 15.
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The high was made very close to the 2.61 external Fib retracement at $26.5 (black). AXS proceeded to close below this area, creating a shooting star candlestick.
The next resistance is at $39.95, the 3.61 external Fib retracement level, while the closest support is between $16-$19.1, the 0.382-0.5 Fib retracement support level (white).
FLOW
FLOW has been moving downwards while following a descending resistance line beginning on April 5. It finally managed to move above the line on July 6.
It has been moving upwards since, culminating with a high of $20.61 on July 15.
The closest resistance area is at $25.33. This is the 0.5 Fib retracement resistance level and a horizontal resistance area.
The MACD and Stochastic oscillator are moving upwards, and while the RSI might have begun to move downwards, it is not bearish yet.
NEM
NEM had been following a descending resistance line since March 3. It broke out on June 13 but fell to a lower low on June 22.
The token has been moving upwards since and has reached a high of $0.146 so far.
The closest resistance area is at $0.24.
Technical indicators are bullish. The RSI is moving upwards and is above 50. The MACD has nearly crossed into positive territory, while the Stochastic oscillator has made a bullish cross.
Therefore, the token is expected to increase towards the $0.24 horizontal resistance area.
RVN
RVN has been decreasing alongside a descending resistance line beginning on May 7. It reached a low of $0.04 on June 22 and bounced. On July 4, it managed to break out from this line.
The ongoing upward movement is supported by both the MACD & RSI.
The closest resistance area is at $0.102.
OKB
OKB has been increasing since June 22, when it had reached a low of $8.50. The upward movement has been gradual and choppy, indicating that it could be corrective. It is possible that the movement can be contained inside an ascending parallel channel.
The closest resistance area is at $12.55, the 0.382 Fib retracement resistance level.
Until OKB manages to break out from the channel, the trend cannot be considered bullish.
STX
STX has been moving upwards since June 22, when it reached a low of $0.50. The upward movement led to a high of $1.47 on July 11. It looks like a completed five wave bullish impulse.
STX has been moving downwards since July 11, in what seems like an A-B-C corrective structure. It has reached the 0.382 Fib retracement support level and bounced. The next closest support is at $0.98, the 0.5 Fib retracement support level.
HBAR
HBAR has been trading inside a descending parallel channel since March 15. On June 22, it reached the support line of the channel and bounced. This also coincided with a validation of the $0.15 area as support.
Technical indicators are bullish, supporting the continuation of the upward movement. This is especially evident by the multiple bullish divergences in place.
However, HBAR has to reclaim the middle of the channel in order for the trend reversal to be confirmed.
For BeInCrypto’s latest bitcoin (BTC) analysis, click here.