There are thousands of crypto assets out there, and doing proper research about all of them is something that most investors simply don’t have the time for. In this article, which is the sixth installment of a series, we’ll introduce three to four tokens for all to follow during the next seven days. Bitcoin (BTC), ApeCoin (APE), Dogecoin (DOGE), and Tron (TRX) are the assets we went with this week—read on to explore them all.
Bitcoin (BTC) needs no introduction, and its fundamentals are not why BTC made it to this week’s list, anyway. Instead, what put Bitcoin into the spotlight was its ever strengthening support line around the $20,000 level. BTC has been trading around the same value since the middle of June, and with one month of support strengthening nearing, investors might be getting ready for a breakout attempt. With weak support, investors would have less confidence in trying to push prices, as they would likely fear the valuation dropping to levels below the original start point. In any case, we’ll have to closely follow BTC’s price action to see whether the breakout will happen this week, or we’ll have to wait more for a significant change.
ApeCoin (APE) is the crypto asset associated with the global NFT sensation Bored Ape Yacht Club (BAYC) collection. After a disastrous launch, investors seemed to have lost faith in ApeCoin, however, their sentiment has been changing recently. It appears that as the event faded, investors started to show increased interest in the asset, which began a slow, but steady uptrend about a month ago. If we look closely, we can spot a pattern that is similar to a rising wedge, a formation generally labeled as bullish. Nonetheless, only the near future can tell whether the pattern will conclude and push APE’s price higher.
Dogecoin (DOGE) is yet another asset that needs little to no introduction. The memecoin endorsed by Elon Musk multiple times has been receiving increased attention lately as companies, like Uber Eats, announced that they will be accepting DOGE as a payment method. Nevertheless, Dogecoin has been a notorious member of the top crypto assets since early 2021, but such news could propel its valuation to even higher numbers, or they could prove to be inefficient in this regard, too.
Last, but not least, let’s take a look at Tron (TRX), the blockchain ecosystem that not many talk about despite its impressive capabilities. Tron’s features include the ability to host native tokens via its TRC-20 tokens standard, which is similar to that of Ethereum’s ERC-20. TRC-20 is quite popular; in fact, the majority of the world’s most popular stablecoin, Tether (USDT), is issued on Tron according to the TRC-20 standard. Tron could be picked up by investors any time thanks to its appealing features and link to Tether, however, there’s no guarantee about this happening.
There you have it, the four assets that this week and the near future could bring significant changes to. This week, watch BTC, APE, DOGE, and TRX to be the first to react to their potential price movements.
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