Analyst alias Cantering Clark says that an Ethereum altcoin is poised for a bull run. Analyst Brian Bollinger analyzes 3 altcoin projects poised for big gains in August. Crypto expert Victor, on the other hand, examines the top 3 earning coins in the last week of July.
UNI is gearing up for the next bull run!
A closely followed analyst nicknamed Cantering Clark says that an Ethereum (ETH) altcoin has emerged as one of the most established crypto assets with strong fundamentals. The analyst states that decentralized exchange Uniswap (UNI) is poised for an upside move. According to the analyst, UNI is giving signals that it is ready to start a bull run. In this context, Cantering Clark makes the following statement:
I think UNI has blue chip status. Considering it’s been around for quite some time, I’m going to start buying some. It is above the 200-week moving average and the weekly momentum oscillators are starting to recover.
Source: Cantering Clark/TwitterTop 3 altcoins prepared for big gains
Polygon (MATIC): Bullish pattern signals continued uptrend
MATIC price is showing the formation of a falling wedge pattern on the 4-hour time frame chart. This chart pattern is considered a bullish continuation pattern, characterized by a progressive narrowing of the range after an initial downtrend. At the time of writing, MATIC price is holding at $0.69. It is also recording a slight intraday loss of 0.85%. Hence, the altcoin appears to be approaching the top of the wedge. This indicates that there will probably be a break in the horizon.
MATIC Price Analysis. Source: TradingviewAccording to technical analysis theories, every high swing during pattern formation can be used to predict a post-break target. Therefore, if buyers sustain a steady break above the overall trendline, MATIC price is likely to rise to the next targets of $0.73, $0.80 and ultimately $0.83.
Ripple (XRP): There is a fix before the next bounce
cryptocoin.com As you follow, XRP witnessed a notable rally on July 13. The altcoin gained 73% in a single day. After this dramatic rise, price movements seem to have entered a consolidation phase. It also formed a distinct pennant pattern that was marked by a series of fluctuations within two converging trendlines for about three weeks.
XRP Price Analysis. Source: TradingviewAs of now, XRP price is trading around $0.699. Thus, this triangle is approaching the apex of the formation. Price squeeze within this contracting triangle means that the probability of a major price breakout in the near term is increasing. A possible break above this overall trendline will signal the rebounding bullish momentum. It will also provide a significant boost to the altcoin price. The post-break rally would increase the XRP price by 21.5% to $0.85 and then to $0.92.
Chainlink (LINK): Elliot Wave hints at upcoming rally
LINK price is showing the five-wave structure of Elliot waves on a 4-hour timeframe chart. This theory is used to predict the maturity of a trend and investor psychology. If the wave counts are correct, LINK price is currently in wave 4 which usually forms a triangle pattern structure. The altcoin is currently trading at $7,548. It is also gradually narrowing within two converging trendlines, preparing for a definitive breakout.
LINK Price Analysis. Source: TradingviewA potential breakout from the overall trendline will signal that LINK price has entered the 5th wave impulse. The potential rally could meet the long approaching resistance trendline at $9 and then $13.
Top 3 highest earning altcoins in the last week of July
Uniswap (UNI)
Uniswap is a decentralized exchange (DEX) built on the Ethereum Blockchain, known for its automated market creation (AMM) protocol. Hayden Adams started Uniswap in 2018. Subsequently, it became one of the most popular and important DeFi projects in the crypto space. Its importance lies in providing liquidity and trading opportunities for a wide variety of tokens without relying on a traditional order book.
1/ New beta drop! đź‘€
Meet UniswapX⚡— a new permissionless, open source (GPL), auction-based protocol for trading across AMMs & other liquidity sources.
TL;DR: Over time, it’ll give users more liquidity, better prices, MEV protection, & gas-free swapping!
Opt-in to the beta👇 pic.twitter.com/30s4dxdeoW
— Uniswap Labs 🦄 (@Uniswap) July 17, 2023
Uniswap facilitates peer-to-peer contract trading. Thus, it allows users to trade ERC-20 tokens without the need for an intermediary. It is also possible for users to become liquidity providers by contributing to liquidity pools and earn a fee in return. This democratized approach allows everyone to participate in the liquidity delivery process. Thus, it contributes to a more efficient and decentralized financial ecosystem.
Maker (MKR)
Maker is a pioneering DeFi project and decentralized autonomous organization (DAO) operating on the Ethereum Blockchain. Rune Christensen launched MakerDAO in 2015. It aims to create a decentralized stablecoin known as DAI, which is fixed to the value of the US dollar. The importance of Maker lies in its role as a decentralized secured lending platform.
The @SteakFi team has published the latest Protocol Economics Report, covering the performance of June!
Let's take a look at the key highlights from MakerDAO's economic performance in the previous month.
↓ pic.twitter.com/Suzg8glfXP
— Maker (@MakerDAO) July 31, 2023
Maker’s primary use is the creation of DAI through a process called “collateralized debt positions” (CDPs). Users lock various digital assets as collateral, allowing them to print DAI up to a certain collateralization rate. This stability allows users to reduce price fluctuations. It also allows them to preserve the benefits of a digital asset while maintaining relative price stability.
Kaspa (KAS)
Kaspa is a relatively new altcoin project compared to Uniswap and Maker. However, it did manage to attract attention. This was because of its unique approach to Blockchain scalability and decentralized application (dApp) development. Kaspa aims to address the scalability issues faced by many existing Blockchain networks.
The #Kaspa Community is excited to share the news! @NOWPayments_io accepts $KAS and offers your customers a seamless and innovative payment experience. #KaspaAcceptedHere #DeFi https://t.co/BIuSnNDWpR pic.twitter.com/51yn49ljRw
— Kaspa (@KaspaCurrency) July 21, 2023
Kaspa introduced a new concept called scalable “Nakasendo”. This is a high-performance Blockchain architecture that provides greater throughput and faster confirmation times. This scalability opens the door to a wide variety of use cases. This includes decentralized finance applications, secure digital asset transfers, supply chain management and more.
The opinions and estimates in the article are those of analysts and experts and are not investment advice. We recommend that you do your own research when investing and trading.
