Institutional investors are often looking for cash to buy when trading in bulk. Because of this limitation, they tend to hold onto Bitcoin (BTC) or some major altcoins with large market caps. Retailers don’t have this limitation, however, and this gives them the freedom to choose smaller projects that are built on solid fundamentals.
While large altcoins are currently within reach or undergoing a correction, some tokens outside of the top 20 by market capitalization have rewarded investors for the past few days. Let’s look at the basics and charts to see if there are lucrative investment opportunities.
THETA / USD
The demand for streaming services skyrocketed in 2020 as the COVID-19 pandemic forced people to stay at home. While all major streaming services are centralized, the Theta Blockchain (THETA) aims to disrupt the market by providing decentralized streaming services.
In the past few weeks, the network has announced updates to improve its main functions. The beta version of Theta Edgecast, a fully decentralized video streaming DApp, was recently released. The platform is able to use the peer-to-peer edge theta network to “record videos, transcode them in real time, cache them and send them to users around the world”.
The protocol also updated its main network on December 11th, which now includes intelligent contract functionality. Another change introduced was the reduction of the Guardian Node participation threshold from 10,000 THETA to 1,000 THETA.
Aside from these developments, blockchain plans to release next-generation Theta Mainnet 3.0 in spring 2021, which is expected to introduce several new features. While fundamental developments are encouraging, investors will be more curious to see how price has responded to them.
THETA is in a strong upward trend and has gained momentum today. It has risen from an intraday low of $ 0.63714 on December 11th to an intraday high of $ 1.11945 today, a gain of more than 75% in no time.
The breakout above the USD 1 psychological resistance has driven the Relative Strength Index (RSI) into overbought territory. The long wick of today’s candle shows the retained earnings at higher levels.
This suggests that the THETA / USD pair may correct or consolidate in the coming days. However, unless the bulls give up much ground, the uptrend could resume with the next target at $ 1.40.
Vice versa, As the correction deepens, the critical value to watch out for on the downside is $ 0.80. If price bounces off this support or the 20-day exponential moving average ($ 0.80), it indicates that the bulls are buying on dips.. This could increase the likelihood that the uptrend will continue.
A break below the $ 0.80 support would indicate a near-term spike.
TRB / USD
Graph Network (GRT) was in the news recently after being endorsed by major cryptocurrency exchanges.
At the same time, the indexing protocol started its mainnet on December 17th It enables developers to search, find, publish, and use public data to build decentralized applications.
The diagram uses an open network of application programming interfaces, or APIs, called subgraphs, to improve access to distributed applications. Over 3,800 subgraphs have been deployed and several popular DeFi projects have used them.
Let’s see if GRT’s technicals indicate a sustained uptrend or if the move will ease off after some initial trading excitement.
Based on the recent listing from BRT, the 4-hour chart was used for analysis. From an intraday low of $ 0.2396 on December 18, the token rose to an intraday high of $ 0.7858 on December 20, a gain of 227% in three days.
After the strong rally, the BRT / USD pair saw a profit posting which brought the price down to the Fibonacci retracement level of 61.8% at $ 0.4482. The bears tried to bring the pair below $ 0.4482 but were unable to hold the lower levels.
This suggests the bulls are rising close to $ 0.4482. Buyers are currently trying to resume the uptrend, but they could encounter resistance at $ 0.6063 and then $ 0.6545.
If both levels are crossed, the possibilities will be retested from the high of $ 0.7858. A break out of this level could resume the uptrend with the next target at $ 0.9944.
Contrary to this belief, if the price deviates from current levels or the upper resistance, the pair can stay in the area for a few days. The trend could turn in favor of the bears if the price falls below the $ 0.4482 support.
CEL / USD
Any credit and credit platform can only be successful in the long term if it earns people’s trust. To build confidence in its earlier announcements, the Celsius Network (CEL), a cryptocurrency loan and interest rate platform, underwent chain analysis that confirmed it had net worth just over $ 3.3 billion. Has this step towards building trust also been reflected in the token’s performance? Let’s find out.
CEL has been on a steady upward trend for several months. The most recent phase of the uptrend started on December 16 with an intraday low of $ 2.2566 and peaked at $ 3.2368 on December 19, up 43% in four days.
The CEL / USD pair has struggled to climb above the $ 3 level in the past two days, but the upside is that the bulls have not allowed the price to fall below the 20-day EMA (2.56 Dollar) falls).
The pair has not corrected itself to the simple 50-day moving average ($ 2.24) since the uptrend began in early September. This suggests that sentiment is to buy the 20-day exponential moving average (EMA) dips.
If the bulls push and hold the price above $ 3, it could start the next stage of the upside move which can reach $ 3.50 and then $ 4. Both moving averages are rising and the Relative Strength Index (RSI) is close to the overbought territory, suggesting that the bulls are in control.
This positive assessment will be invalidated if the price falls below the 50-day SMA. Such a move could indicate a possible trend reversal.
The views and opinions expressed here are those of the author only and do not necessarily reflect the views of Cointelegraph. Every investment and trade movement involves risk. You must do your own research when making a decision.