Hello traders! It has been some time since I posted here on hive due to real-world engagements. How is the crypto market doing? After Bitcoin recovered from the $65k price territory with a bullish move to the $82k price level, it experienced a very strong resistance. Sellers began selling into the move with large volume, causing the price to decline, but it found support at the $76k price level. As of today, the Bitcoin price is at the $77k price level at the time of writing.
I have been looking at the Horizen price closely following their transition to the Base network. The ZEN price had been trading at $5.50 for a long time before the price skyrocketed to $7.80, where sell pressure became intense, so we had a very strong resistance there, and then the price declined down to $5.80. As of the time of writing this review, the ZEN price is at $6.56. I personally think ZEN will be heading back to $40, following the accumulation pattern I have seen, which is very recognizable. In my next review on ZEN, we will discuss that in detail. I think adding ZEN to your portfolio will be the best choice.
Cardano has been trading at the floor for a long time within the range of $0.25 as the strong support level and $0.294 as the strong resistance level. From my analysis, we are currently in the accumulation zone, preparing for a powerful move that will take the ADA price to the $0.48 price territory. As of the time of writing, the price was trading at the $0.25 price level.
Ethereum experienced a notable increment in price from the $1900 price territory to the $2400 price level, where the price saw a very strong resistance. Traders who bought earlier in the $1900 price territory saw this level as attractive enough to sell, and they offloaded their holdings to the market, which caused a serious price drop from $2400 to the $2000 level. But at the moment, as of the time of writing, ETH is trading at the $2128 price level.
Conclusion: The crypto market is very volatile and uncertain amid geopolitical influences, which have caused increasing fear in the market. However, times like these are meant for smart investors and traders who see far ahead and understand the rules of the game: always buy when fear increases and sell when greed controls. Either way, always trade wisely; nothing in this article is financial advice. Cheers!
