After a money-dissolving bout of market shakedown and existential dread, crypto investors are back to focusing on the mood of the US stock market as a gauge of whether the worst might be over.
Stocks are mostly up over the last few weeks. While also Bitcoin has added 15% over the past month, and so have the altcoin markets.
Here are the top five altcoins to watch over this week:
ETHEREUM (ETH)
While on the 11th of August, Ethereum is set for a Goerli merge.
The Ethereum Foundation’s blog said, “After years of work to bring proof-of-stake to Ethereum, we are now well into the final testing stage: testnet deployments!”.
After a series of forks, devnet, and merges on Ethereum, Sepolia testnet underwent a transition Proof-of-Stake (POS).
For the matter, Sepolia is a proof-of-work (PoW) testnet where dApp developers can test their applications. What differentiates Sepolia from other Ethereum testnets is that most of its PoW validators are public validators.
This Goerli merge is the last testnet remaining to get the transition to Proof-of-Stake.
ETH is currently changing hands at $1,770.
After a roughly 75% rise in three weeks, ETH is set to march even higher as it proceeds into a vital supply zone between $1,700 and $2,000.
Furthermore, the only crucial psychological level remains $2000 for ETH to rise to heights again.
HEDERA HASHGRAPH (HBAR)
Hedera Hashgraph, with a current market cap of $1.67 Billion, will undergo a crucial mainnet upgrade on August 11, 2022.
This news came to public interest via a tweet post three days ago. The 60-minute scheduled mainnet upgrade is a response to a bug notified by ZuseMarket and HashPackApp that could have caused a rare NFT failure case.
Currently, HBAR is trading at $0.0796. For a move upward, HBAR needs to face resistance at $0.0873 and $0.0974. While it’s taking support at trendline running under it since July 5.
MONERO (XMR)
Monero, Ethereum, and Hedera will go on a hard-fork upgrade on 13th August 2022. Since this is a hard fork, it’ll require all participants on the network to update their software.
The features of this upgrade involve improved network security, improvement in verification performance, and more.
According to the charts, it is trading at $168, making a 75% run above since June 18th. This coin’s weekly chart reflects a strong recovery powered by six green weeks of price action.
OASIS (ROSE)
Oasis Protocol collaborates with meta to assess Fairness for its AI Models using Cutting-edge Privacy Technologies.
On a medium blog, Oasis defends its mission of creating tech to ensure data ownership and control stay in the hands of the users.
This announcement has sent a 25% gain in the price action of oasis (ROSE/USDT) in the past 24 hours at $0.104, while further resistance awaits at $0.12.
KADENA (KDA)
In July 2021, Kadena launched a bonding program for its Relay Chain. The program was a step toward solid economic security for bridging activities like Wrapping Ethereum tokens on Kadena.
Notably, the success of the July 2021 program launch, Kadena will end the program on 15th August after distributing 2.3M $KDA tokens to bonders.
The bonding program ends in powering Defi apps on the Kadena ecosystem.
Since this announcement, KDA has gained nearly 10.5% in the past 24 hours while currently trading at $2.35.
Moving ahead, If it continues to rise, $3.3 can be set as a good resistance level.
Disclaimer: The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR (do your own research)
