The correction at the start of the week created a sense of panic in the market to the point where some were starting to question whether the crypto bullish trend would continue for the rest of the year. But, smart and savvy traders are well aware that this decline is transient as it does not depend on any fundamental crypto factor. Buying the current decline in some crypto projects could pay off big at the end of the year.
Correction and bearish factors: Should we be worried?
The over-liquidation of leveraged bitcoin positions was pure and simple market manipulation. The hypothesis of a recovery in long rates? Not possible before 2022, especially since the growth of the American economy slowed down a bit in August. The Delta variant is making it harder to accelerate the pace of economic recovery.
The ” crackdown Of the SEC against Coinbase? Another thorny legal and regulatory story that the SEC would struggle to win because the motive behind the attack is unclear. Wanting to categorize Coinbase’s lending program as ” securities »Liable to be regulated like any security in the US financial market is a bit complex. Moreover, some experts believe that the SEC intends to apply the Howey and Reves Test for the case of Coinbase to determine whether or not its crypto lending activity is a “security” because the law on “Securities”Appear not to give clear provisions on cryptos.
In addition, it should be noted that institutions continue to invest more in the cryptoversy. Today, Visa announced the acquisition of the crypto company CipherTrace for the sake of traceability and transparency. So the most rational decision at this time would be to buy down some before they explode. Therefore, we have selected 5 high potential cryptos that will certainly give you a 100% return at the end of the year.
Polygon: Ethereum’s blockchain scaling solution
Current price: $ 1.42
Highest level: $ 2.62
Daily Graph – Evolution of the MATIC price
Polygon is an alternative blockchain to Ethereum that offers better solutions in terms of scalability. Its network is also renowned for its interoperability services between blockchains. Today, Polygon has just announced a partnership with Mina Protocol to bring privacy to its blockchain.
Before the correction, there were two signals that made MATIC a good buying opportunity. The acquisition of Mina reinforced this MATIC purchase forecast. In 24 hours, the crypto would have gained 8.5% but which is interesting for those who intend to buy the MATIC. His current value is -45.9% of his May 18 ATH. So, given these buy signals, Polygon remains a good “buy” for the coming months, especially as experts predict a bull run between October and December.
At the technical level, the price of MATIC exceeds the long-term and short-term moving averages as you can see on the graph. The RSI gives a breach signal with a value of 49 but shows us how important it is to buy the MATIC decline. Forecast sites are bullish for the Polygon at the end of the year. Coinpedia predicts that Matic could reach $ 3. Wallet Investor is more cautious with a MATIC at $ 2.55 at the end of the year.
Celo: From the Blockchain to smartphones
Current price: $ 5.97
Highest level: $ 11
Daily Chart – Evolution of Celo’s price
Celo is a project that seeks to promote the adoption of blockchain on smartphones. Crypto wants to promote financial inclusion through cryptocurrencies. It will not be enough to know the name of the person and to save it on his mobile to send him cryptocurrency. The ambition of the project is to prove to be the CashApp or the Venmo of the decentralized network. Apart from this aspect, Celo’s blockchain allows the development of smart contracts and Dapps.
The value is recovering with giant strides from its last fall. As of this writing, the crypto is up 41.55%. The last time we wrote about this crypto it had performed like this before hitting its $ 11 ATH. Much like Polygon, Celo’s current price is down 84.93% from its ATH. A great opportunity to buy Celo at an affordable price
On a technical level, the crypto has already crossed its estimated long-term moving average of $ 3.77. The RSI is at 62.48. Some will say the crypto is overvalued but will ignore the value of the project. If with the first turnaround in the market, it had reached $ 11. The possible August bull market could see a much better performance in Celo’s stock. However, the sites are cautious. For WalletInvestor, the crypto should not exceed $ 7 at the end of the year.
Tezos: A utility crypto like Ethereum
Tezos course: $ 6.11
Highest level: $ 8.27
Daily Chart – Evolution of the price of Tezos
Tezos is a crypto structure that allows its users to create and develop smart contracts and Dapps. The blockchain is catching the attention of cryptophiles because three giants of European finance (Crypto Finance Group, Inacta and Incore Bank) have chosen its network to get started with cryptos. The crypto also has an NFT platform launched on its network. Golden Goals chose Ethereum to create football NFTs.
Tezos’ value has grown impressively over the past 24 years. It would be up 39.3%. Since its recovery on July 21, the price of crypto has nearly tripled on the stock market but remains below its all-time high of 26%. Which makes Tezos (XTZ) a bargain when it comes to buying. In addition, the technical signals are positive. XTZ’s price exceeds its MM-50 and MM-100 estimated at $ 3.97 and $ 4.16 respectively.
Chiliz: The crypto for sports fans
Current price: $ 0.3530
Highest level: $ 0.8786
Daily Chart – Evolution of the price of Chiliz
Chiliz is the token of the socios project which aims to connect football fans and clubs with the blockchain. More than twenty teams have already partnered with Socios and have created token fans. These tokens allow voting rights to be granted in club decisions. If the fans want, they can exchange their fan tokens for Chiliz which they can trade on the more popular exchanges.
The current price of Chiliz is up 3.5% over the last 24 hours. Even though the crypto has a long way to go before it hits its ATH of $ 0.87, investors are still hopeful for Chiliz’s price at the end of the year. Sports NFTs are booming at the moment. So there is a good chance that this will positively impact the price of CHZ.
1Inch: DEX aggregator to find the best Swap
current price: $ 3.12
Highest level: $ 7.84
Daily Graph – Evolution of the price of 1inch
1Inch is a crypto structure that connects several decentralized exchanges into a single platform in order to help users find the best possible swap among its DEXs. The crypto hit the market in August 2020 and is said to have raised $ 2.8 million for its debut.
This crypto was retained in our list because it is traded at -60% against its ATH. Its current price is above the 50-day moving averages valued at $ 2.88 but retracts below the 200 moving averages valued at $ 3.702. The RSI is also showing signs of a breach at 47.73 but shows us how important it is to buy 1inch before its price explodes.
Risk Disclosure: The articles and articles on Arover.net do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies.
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