April 13, 2024

The crypto market has shown signs of a slight retracement in the last 24 hours. Although there is no major bearish event, the drop in value is likely for consolidation. 

However, the total crypto market cap is still $1.66 trillion. Bitcoin remains above $43,000 despite a 1.9% decline in the last 24 hours. 

On the bright side, the ongoing discussions between the U.S. Securities and Exchange Commission (SEC) and Bitcoin ETF managers are in advanced stages. Also, there is the possibility that the Bitcoin ETFs will eventually be approved. 

Amid all that, some assets seemingly defy the odds and the general retracement to record gains based on positive investor sentiments.

Find out more about their next moves and exciting developments below. 

Helium (HNT) – The Wireless Network Blockchain

Crypto

HNT’s price at 8:58 a.m. EST is $5.24, with a 26.1% increase in the past 24 hours. Impressively, HNT has gained 75.1% in the past week, confirming the dominance of buyers in the market. 

The Helium Foundation rolled out impressive developments in December. One such notable development is the Helium Vote. This is probably one of the reasons behind the asset’s gains today. 

The vote is for the five open Mobile working Group Membership roles available. The election was contested between five self-nominated individuals who hope to participate in the Mobile Working Group’s activities and top decisions in the next six months. 

According to the rules, the votes will be counted on the Helium Modular Governance platform. Also, individual voters were permitted to vote for up to five candidates at once, and the candidates were ranked on their accumulated mobile votes. 

So, the top five veMOBILE vote winners will be elected, and the working group will consist of two sets of members that will serve for six-month terms. 

These activities are likely to attract investors’ attention to the Helium ecosystem and boost HNT’s price gains. Remarkably, HNT continues on its uptrend on the daily chart as the buyers sustain the pressure on its price. 

HNT Continues Uptrend, Will It Break Above $5.26?

HNT rallied on December 6 to form a large green candle as it attempted to break above the $5.07 resistance level. The bulls broke above $5.07 today and attempted to overcome the resistance at $5.26. 

The long upper wick on today’s candle suggests that the sellers are limiting the price gains for the asset.

However, the buyers are still in control, and HNT’s price remains positive. The Relative Strength Index (RSI) indicator reveals that the asset is in the overbought region with a value of 89.53.

However, the RSI is moving sideways, hinting at a possible retracement for HNT.

Also, the Moving Average Convergence/Divergence (MACD) indicator displays a buy signal confirmed by the green Histogram bars. So, HNT will likely continue in a positive trend in the coming days if it breaks above $5.26.

However, if rejection occurs at this level, then the RSI will drop from the overbought zone for a brief retracement. 

Bitcoin ETF Token – Buzzing, Speculative Price Trend

People are really excited about the possibility of a Bitcoin Exchange-Traded Fund (ETF) getting approved soon. Experts think the decision might come by January 10, and this news has made everyone in the cryptocurrency market super hopeful.

A big company, Grayscale, updated its application for a Bitcoin ETF on November 22.

This update shows that the SEC might be open to allowing a Bitcoin ETF. This news got investors excited, making the price of Bitcoin go up past $37,000. If the ETF gets approved, it could be a huge deal for the whole cryptocurrency market.

It might make more traditional investors take Bitcoin more seriously.

Due to all this excitement, the new token, Bitcoin ETF Token (BTCETF), is booming. People are interested in it, and the presale has already raised a lot of money, $2.9M+.BTCETF Token team has a plan to make the number of tokens less over time, making them more valuable. 

They’ll do this by burning some tokens when important things happen, like when the ETF gets approved or when Bitcoin hits $100,000. Also, if you hold onto the tokens for a long time, you might not have to pay as much when you buy or sell them.

They’re also giving rewards to people who keep their tokens in their system, which might make the tokens more valuable in the long run.

The presale for BTCETF Token is happening now, and you can get the tokens for a good price. Some people think the tokens might increase in value a lot when trading starts.

Avalanche (AVAX) – The Open-Source Platform For dApp Builders

AVAX’s price at 9:04 a.m. EST is $26.22, with a slight increase in the past 24 hours. Also, it has gained 24.7% in the last seven days. Avalanche is in the news for good reasons.

The Institute of Electrical and Electronic Engineers, with over 75,000 members in India, will give out IEEE credentials and certificates on Avalanche.

This will be done on the Avalanche C-Chain to make the verification process smooth and secure for users. This is a practical use case of the Avalanche blockchain. 

Also, Avalanche announced the integration of their on-chain analytical tool, Dexcheck, to boost the ecosystem. Additionally, Avalanche teased a major focus on gaming activities in 2024, leading to excitement in the ecosystem.

These factors combined are boosting AVAX’s gains this week. However, it faces resistance from the sellers on the daily chart. 

AVAX  Forms Doji On Daily Chart. Will It Decline Further?

AVAX entered into an uptrend from November 28 to December 6 before breaking above the $26.15 resistance level today. The Doji candlestick formed suggests that the rally has been halted by sellers closing long positions in the last 24 hours. 

So, AVAX remains below the $27.88 resistance level as it attempts to recover after a brief retracement. However, AVAX is still trading close to the upper band of the Donchian channel, suggesting that the bulls are not yet done with the token. 

Additionally, the RSI indicator is in the overbought region, displaying a value of 77.16. However, the RSI’s sideway motion suggests uncertainty in AVAX’s next price moves. 

Therefore, AVAX will likely retrace in the short term before resuming its uptrend to break above $27. 88 in the coming days. 

TG.Casino (TGC) – Anonymous Crypto Betting on Telegram

The new cryptocurrency, TG.Casino ($TGC) is getting a lot of attention from GambleFi investors. It is selling fast and has raised over $3.5 million in just a few weeks during its presale.

TG.Casino runs a gambling platform on Telegram. What’s special is you can use it without going through a verification process.

This approach is making a lot of people excited, including big investors. Some experts think the next big rise in cryptocurrency prices will start around the end of 2023. They believe in gambling-related cryptocurrencies, like TG.Casino might do really well in this next rise.

The number of people interested in gambling cryptocurrencies is growing, and some tokens, like Rollbit Coin, are doing better than others, showing that this area is becoming more popular.

People are excited about TG.Casino’s presale. A big investor in the crypto world swapped 10 ETH for $TGC during the presale, which is worth a lot of money now. 

This investor has a huge following on Telegram, and many of them are also buying TG.Casino tokens. The first and second stages of the TG.Casino presale sold out fast, and the next stage will end in four days or when they raise $5 million, whichever comes first. TG. The casino is already ranked as a top online gambling site in places like Bitcoin casinos.

They offer lots of games and betting options, including major sports like NBA, NFL, MLB, and UFC. Players can join live casino events, get free spins, and even get a bonus of up to $30,000.

If you use their $TGC token, you get special benefits like cashback on losses and access to exclusive games.

All of these services are available on Telegram, and you don’t need to download anything extra. TG.Casino has its own bot on Telegram that helps players with the games and other stuff.

But, a recent hack on another crypto casino called Stake, where $40 million was stolen, has made investors worried about the safety of online crypto gambling.

So, more people are now looking into TG.Casino to see if it’s safe for them to invest, thereby bringing more attention to the project. You can also be a part of this opportunity by buying the tokens at cheap prices in anticipation of potential profits following its popularity. 

Conclusion 

The retracement in the market has proven once again why cryptocurrencies are considered volatile assets. Although it is not a major decline, the early December momentum has slowed down in the last 24 hours. 

Nevertheless, some investors view such declines as opportunities to “buy the dip” ahead of the next bullish phase. 

Also, there is a chance that presale tokens will eventually benefit from the ongoing bullish phase. The last few weeks in 2023 might prove to be quite profitable for traders who make the right calls based on proper analysis.

Ultimately, the decision lies with the trader based on personal sentiment. However, proper research and risk management cannot be overemphasized.


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