Hello family, today we will analyze assets that will have great opportunities against Bitcoin. The biggest important moves will happen this week on these 4 crypto. VeChain, MATIC, DIGITEX & Synthetix
VET / BTC
VeChain / Bitcoin
With a total market capitalization of 102,466 BTC and a volume recorded in the last 24 hours of 20,829 BTC. Vechain is one of the assets that was not affected by the Covid-19 pandemic. From May 5, 2020 to the present day VeChain has been positively affected by the latest events, since it registers an increase in its value against Bitcoin by more than 308%. Registering the highest point of this year reaching 0.00000236 BTC. At the time of writing, we are faced with a price correction. The bulls unsuccessfully attempted to break the resistance at 0.00000204 BTC but received a rejection from the bears, pushing the VET price down to 0.00000184 BTC.
The Triple EMA 20 is above the Double EMA 60, however the Triple EMA has functioned as resistance, since in recent days the price has remained below this moving average.
On the other hand, MACD + Double EMA 60 indicates that the price of VeChain could decrease a little more during the following days, this would put investors in this project before a great buying opportunity at the end of the current setback.
VeChain is an enterprise-focused blockchain ecosystem that aims to enhance supply chain management by connecting blockchain technology with the real world through 'a comprehensive governance structure, a robust economic model, and advanced IoT integration'. VeChain enables manufacturers to assign products with unique identifiers on the platform, thereby allowing participants to track the movement and provenance of products in a supply chain. Started in June 2015, VeChain as 'a pioneer of real-world applications using public blockchain technology, with international operations in Singapore, Luxembourg, Tokyo, Shanghai, Paris, Hong Kong, and San Francisco'
The 0.38% level of the Fibonacci retracement has been previously used as support, if this time it is used again as support we could expect the price to drop to 0.00000168 BTC if it breaks below the support of 0.00000168 BTC then the price could continue to decrease.
* In another scenario if this 0.00000168 BTC zone meets its support target it is highly likely that we will see the end of the pullback to continue the current bullish momentum.
You can exchange Vechain on these exchanges:
MATIC/BTC
The current value of MATIC against Bitcoin is 0.00000244 BTC, in the period of November 19 and December 25, 2019 MATIC saw an increase in its value by more than 249% in more than 30 days.
Matic allows, through side chains for computation outside the Ethereum main chain, to scale up to a tested maximum of 7,200 TPS for each side chain, securing the assets using Plasma over Ethereum and its own decentralized network of validators under the Proof consensus mechanism of Participation «PoS».
Its main network launched less than two months ago and its staking system started at the end of last month, have allowed the native MATIC token to be highly productive during the pandemic.
From April until today, MATIC has maintained bullish movements.
With a solid team behind the platform and a seasoned marketing campaign that has allowed it to have more than 60 decentralized applications -dApps- on its network, Matic's team has managed to position the platform within the first 100 Blockchain projects most important in the ecosystem.
With a total market capitalization of 9074 BTC and a Volume registered in the last 24 hours of 2397 BTC located at position # 94 in the ranking of CoinMarketCap
MATIC is the utility token used on the Matic Network blockchain. It has a range of purposes, including paying network transaction fees and participating in Matic Network’s Proof-of-Stake consensus mechanism. Due to demand, MATIC has also been integrated into several external platforms as a payment method.
The support level of 0.00000228 BTC has been used by bulls to push itself. MACD is starting to have bullish sentiments as Triple EMA 60 has crossed above Double EMA 20.
Therefore, in the following days we can expect:
If the bulls manage to overcome the resistance of 0.00000252 BTC. MATIC's value against Bitcoin, could have an increase of up to 23% in the following days.
In another scenario if the bears hold on to the resistance I mentioned above they are likely to push the price down to 0.00000228 BTC.
MATIC will present great opportunities for many investors, surely MATIC will give something to talk about in the following weeks.
The most important events for MATIC during the following days are:
22 July 2020 Blockchain Cutie Presale "Deployment on Matic Network started! Announcing the @BlockchainCutie presale, first-ever NFT sale on Matic, going live on July 22nd!"
In addition to that on July 23, 2020 ProBit Listing "Global exchange @ProBit_Exchange is listing $ MATIC on July 23 via the pairs MATIC / USDT & MATIC / KRW."
You can purchase MATIC on any exchange which supports the digital currency. For the latest list of exchanges and trading pairs for this cryptocurrency, click on our market pairs tab.
Essentially, Matic aims to provide the infrastructure to overcome the traditional performance bottlenecks of the blockchain ecosystem, to allow all types of DApps to be able to handle large volumes of users.
DIGITEX/BITCOIN
DGX/BTC
From July 13 to today DGX has increased its value up to 122%. At the time of writing this DGX price is 0.000010582 BTC
Digitex Futures is a commission-free cryptocurrency futures exchange with a rapid-fire one-click trading ladder and high leverage. Traders can buy and sell perpetual swap futures contracts on Bitcoin against the US Dollar and pay no transaction fees on any trades.
Commission-free trading is made possible by using its own cryptocurrency, called the DGTX token, as the native currency of the futures exchange. Instead of covering costs by charging transaction fees on trades, Digitex meets the operational costs of running the futures exchange by creating and selling a small number of new DGTX tokens each year.
With a total market capitalization of 9611 BTC and a volume registered in the last 24 hours of 321.34394344 BTC with a very small market but located in position # 89 of the CoinMarketcap ranking.
At the resistance of 0.000013218 BTC the price received a very strong rejection by the bears. The 20-period Triple EMA is well above the Double EMA 60.
To this we can add that in the following days there could be a correction in the price and DGTX, to have continuity with the bullish impulses.
(DGTX) will launch its commission-free Bitcoin futures exchange to the general public on July 31, after eight months of extensive testing, both on its test network and its core network with selected traders. The world's first zero-fee Bitcoin futures exchange already has some 30,000 traders on board, many of which join daily, generating more than $ 250 million in 24-hour trading volume.
The exchange will hold a day-long trading event on launch day and live trading contests and will reward transactions with up to $ 250,000 in DGTX tokens and other merchandise to the lucky winners.
If the 0.000010692 BTC support is used by the bulls to continue the momentum, the bullish movements could lead to the price rising to 0.000011995 BTC in the following days.
In another scenario if the bears manage to cross below the 0.000010692 BTC support then the bullish momentum would cancel and the price could drop to the 0.5 level of the Fibonacci retracement.
Synthetix / Bitcoin
SNX/BTC
With a total market capitalization of 35,079 BTC and a volume in the last 24 hours of 3413 BTC, with over $ 432.4M Total Value Locked (USD) in SNX well above Bancor, loopring & Kyber.
Today SNX opened to the upside with a large volume candle growing so far this day by approximately 11%, reaching all-time highs. At the time of writing this SNX is exchanged for 0.00040751 BTC. After yesterday's small decline, today the bullish momentum is continuing.
Synthetix is a derivatives liquidity protocol on Ethereum that enables the issuance and trading of synthetic assets. Each synthetic asset (or Synth) is an ERC20 token which tracks the price of an external asset; for example, each sUSD token tracks the price of the US dollar (and unlike the other synthetic assets, is fixed at 1). A wide variety of Synths exists within Synthetix, including fiat currencies, cryptocurrencies, commodities, and inverse indexes. The protocol will enable a variety of trading features including binary options, futures, and more.
el token SNX de Synthetix Network, una adicion a DeFi Innovation Wave, ha aprovechado muy bien el creciente interes de la comunidad Blockchain sobre las DeFi.
The 20-day Triple EMA is well above the Double EMA 60, this indicates that the bullish movements will continue in the following days.
With a wide range of updates, new features added on its platform and increased ways of use, SNX has seen a price takeoff going from a low of $ 0.590 to a high of $ 3.46, a growth of + 342.4% in the last 90 days, according to CryptoRank data.
The token is currently in position 36 in the general ranking of cryptocurrencies and is one of the great winners of this wave of DeFi projects that have had a great takeoff in Q2 2020 for adoption during times of pandemic.
Therefore, in the following days we can expect:
Not having close resistance points the price of SNX is in an exploration zone, however a strong rejection came today from the 0.00044701 BTC zone if this becomes a resistance the bears could return the price up to 0.00034994 BTC.
In another scenario, if the bulls invalidate that area and continue the movements with bullish volume, that would cause SNX to be an important topic to talk about in the following days. Although we must be aware of any correction in the price.
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