The crypto market is in full swing, especially with the price of Bitcoin crossing the $35,000 mark for the first time since May 2022. The rise is attributed to market speculators anticipating the approval of a Bitcoin ETF spot in the United States. In just three days, over $250 Millions of Bitcoin short positions were liquidated. André Dragosch of Deutsche Digital Assets points out that a short squeeze played an important role in this price surge. While Bitcoin shines, other crypto assets must also keep pace. Amidst this, Bitcoin Cash (BCH), Litecoin (LTC), and VeChain (VET) are taking their unique paths to the market. In this fluctuating landscape, ScapesManie is gearing up for its entry, aiming to carve a distinct niche in the competitive arena, bringing a fresh perspective to the market dynamics.
With the crypto market exhibiting positive growth momentum this past week, will this trend persist or will promising newcomers like ScapesMania outperform established coins? Read on to find out.
Summary:
- ScapesManie is preparing to carve out a space for itself in the competitive crypto market, bringing a fresh perspective to the table.
- Bitcoin Cash (BCH) faces potential price pressure due to continued miner selling, but bullish sentiment persists.
- Litecoin (LTC) is showing promising signs of a bullish resurgence, with technical patterns hinting at a potential breakout.
- VeChain (EFP) appears to be a turning point in industrial manufacturing, revolutionizing supply chain transparency and traceability.
ScapesMania: A New Entrant in the Crypto Arena With a Distinct Advantage
Many crypto experts choose ScapesMania as the best new project of 2023 and beyond. It manages to stand out from the competition by offering holders a multitude of sources of income and returns on investment with high potential during the pre-sale.
Businesses and individual crypto traders looking for quick potential gains should definitely look into ScapesMania’s proposition. Once the presale ends, the price will skyrocket, guaranteeing possible returns in the range of 400-500%. Currently, there is an active discount of almost 75%but it won’t last forever: time is running out and anyone who wants to take advantage of this offer must act quickly.
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By dissecting the tokenomics and other features of ScapesMania, it becomes clear that it is the best altcoin to hold right now. The innovative basic idea related to the game, impressive pre-sale figures, $150,000 giveaway, eternal hype on social media and other positive aspects can ensure that ScapesMania will continue its winning journey, so it makes sense to get involved as soon as possible.
Bitcoin Cash (BCH): Navigating Market Sentiments and Miner Dynamics
Bitcoin Cash (BCH) briefly touched the $265 mark, a level that has remained elusive since July. However, this recovery could be short-lived. On-chain data indicates that Bitcoin Cash (BCH) miners have been offloading their reserves at an alarming rate, reducing their holdings by $200 million in just 30 days. Such a sell-off could potentially flood the Bitcoin Cash (BCH) market, putting downward pressure on its price.
Currently, Bitcoin Cash (BCH) is hovering in a price range between $194 and $259. The 10-day moving average, a crucial indicator of short-term price trends, stands at $244. On the other hand, the 100-day moving average, which provides a broader view of the coin’s price trajectory, is set at $220. On the support and resistance front, Bitcoin Cash (BCH) established firm support levels at $91 and $155. Meanwhile, the resistance levels to watch are $284 and $348.
The future of Bitcoin Cash (BCH) remains a topic of heated debate among crypto enthusiasts. If crypto whales continue their buying spree and overall market sentiment remains positive, the Bitcoin Cash (BCH) price rally may well accelerate. A significant resistance level at $280 awaits, and if Bitcoin Cash (BCH) manages to break through this barrier, it could aim for the coveted $300 mark. However, if the bears gain the upper hand, Bitcoin Cash (BCH) could experience a price correction, potentially returning to the $200 level.
Litecoin (LTC): Assessing the Path to Triple Digits
Litecoin (LTC) is showing promising signs of a potential bullish resurgence. Recent data indicates a 14% price appreciation since October 18. Currently, the coin is trading around $67.0. Technical analysis enthusiasts have reason to be joyful, with the altcoin sketching a bullish pennant pattern. Adding to the bullish narrative is the divergence spotted on the daily RSI, coupled with the formation of a head and shoulders pattern.
Diving into the numbers, the current trading range for Litecoin (LTC) is between $59.7 and $70.3. The 10-day moving average, a barometer of recent price trends, is $65.9. On the other hand, the 100-day moving average, which provides a broader view of the coin’s price action, stands at $70.7. For traders, the support levels to watch are $42.7 and $53.4, while the resistance zones are set at $74.7 and $85.4.
Given Litecoin’s (LTC) strong fundamentals, including two halvings, and its current consolidation into a symmetrical triangle, a bullish outlook suggests that Litecoin (LTC) could soon reach a triple-digit price. However, this optimism is tempered by the fact that even though Litecoin (LTC) has a large community and a strong network of miners, its price speculations have been influenced by events such as its third halving .
VeChain (VET): the blockchain of the industrial revolution
VeChain (VET) has been making waves in the crypto space, most notably with its recent feature on Forbes Digital Assets. Touted as a blockchain protocol that is revolutionizing industrial manufacturing, VeChain’s (VET) contribution to improving the transparency and traceability of supply chains has been monumental.
Price-wise, VeChain (VET) is currently trading in a range between $0.0151 and $0.0191. The 10-day moving average, indicative of the coin’s short-term price trajectory, is $0.0177. On the other hand, the 100-day moving average is set at $0.0171. For those monitoring support and resistance levels, the numbers to watch are $0.0089 and $0.0128 for support, and $0.0208 and $0.0247 for resistance.
VeChain’s (VET) technological prowess, particularly its proof of authority (PoA) technology, positions it as a leader in the supply chain management space. The optimism surrounding the coin is palpable, with many in the crypto community believing its price could potentially reach $1 in the distant future. Currently, the market value of VeChain (VET) is hovering around $0.01876, with a market cap of $1.36 billion. The future of the coin looks bright, at least for now.
Conclusion
In the current crypto narrative, Bitcoin Cash (BCH), Litecoin (LTC), VeChain (VET), and newcomer ScapesMania are not just participants but active contributors to the market story. Each is at a different point in the plot: Bitcoin Cash (BCH) faces internal dynamics testing its resilience, Litecoin (LTC) at a crossroads of potential growth, VeChain (VET) on the path to industrial applicability and ScapesMania at the dawn of its commercial journey. As these digital assets integrate their strategies with market movements, they contribute to a larger whole that is complex, unpredictable and full of potential.
ScapesMania is at the point where previous buyers can already assume that they made a good decision and now is the time for those who have not yet tried the project. Sign up now to achieve potential investment returns of 400-500% or maybe even more.
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Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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