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Can Hedera (HBAR), Stacks (STX) and Chronoly (CRNO) Price Bounce From These Levels?

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Can Hedera (HBAR), Stacks (STX) and Chronoly (CRNO) Price Bounce From These Levels?

Investing is not easy. It requires hard work, dedication and, often, nerves of steel. This is the truth of investing in cryptocurrency because you need to do your research. This is doubly true for times like this when the entire market is in serious turmoil and even Bitcoin has been mauled by the bears. If you want to be in the cryptocurrency market, or you’re already in and want to ride out the storm, then here are three coins that could potentially bounce back from the recent market crash: Hedera (HBAR), Stacks (STX) and Chronoly.io which is already up 400% during its presale.

Hedera (HBAR) offers very low transaction fees and energy efficiency

Hedera is the most used, sustainable, enterprise-grade public network for decentralized finance (DeFi). The platform lets investors and corporations build decentralized apps (DApps). Hedera can process 10,000 transactions per second, according to its whitepaper (TPS). Bitcoin (3tps) and Ethereum 1.0 (12tps) have far lower TPS.

Hedera’s average transaction fee is $0.0001, which investors love. Bitcoin and Ethereum can’t keep gas costs down. The platform gives investors similar features to Bitcoin and Ethereum, but with improved features and speed. Hedera’s utility token, HBAR, is an energy-efficient cryptocurrency.

Stacks (STX) is climbing back up after a nasty fall

With a 24-hour trading volume of $13,267,997 USD, today’s Stacks price is $0.3949 USD. Trading volumes have climbed over the last day, and the altcoin’s Volume to Market Cap Ratio is now 0.02609.

The adverse mood weighed heavily on Stacks Price, contributing to significant selling pressure in the crypto asset in recent days. The bulls, on the other hand, have re-entered the fray, as evidenced by today’s price movement. Although the STX Price has climbed above the 20,50 SMA on the four-hour chart, bears are still hanging large around the altcoin. If the rally continues, the Stacks will most certainly run into resistance near $0.60, giving the bulls a big lift. On the other hand, in the event that the bears stage a comeback, the asset’s support is established at $0.45.

Chronoly (CRNO) is going places fast

Chronoly.io is a blockchain based marketplace for fractional ownership, trading and authentication of luxury watches from brands such as Rolex and Patek Philippe. Chronoly.io aims to democratize luxury watch ownership and offer price transparency and market liquidity to an usually opache and illiquid asset class. If executed correctly industry insiders predict that the Chronoly.io project could disrupt the $64bn watch market and kick start a trend in the crypto market which is real-world utility tokens.

How the Chronoly marketplace works is simple, each NFT on the Chronoly.io marketplace is asset-backed by a real version of the watch, which is held in a depositary vault. All of the watch’s ownership history and authenticity details can be checked and verified by anyone on the blockchain. Users have the option to trade small fractions of the NFTs from as little as $10 or own 100% of the NFT and redeem the physical watch whenever they like.

CRNO is the native token that powers the Chronoly decentralised marketplace and has enjoyed a successful start to its presale, which started in May 2022. At the time of writing, the price of the CRNO token is $0.05 up 400% from it’s starting price of $0.01 and with the current bear market upon us, could asset-backed tokens with real-world utility be the next big trend to push us into a bull market? This remains to be seen.

Find out more about Chronoly.io by visiting the official website, Telegram or Twitter (NYSE:TWTR). Learn more about the presale by clicking here.

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Cryptocurrency

Dogecoin price could rally 20% in July with this bullish reversal pattern

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Dogecoin price could rally 20% in July with this bullish reversal pattern

Dogecoin (DOGE) looks ready to extend its rebound move despite the current crypto bear market.

DOGE’s price appears to have been painting a bump-and-run-reversal (BARR) bottom since May 11, a technical pattern that points to extended trend reversals in a bear market. It consists of three successful phases: Lead-In, Bump and Run.

DOGE/USD daily price chart featuring ‘BARR bottom’ pattern. Source: TradingView
DOGE/USD weekly price chart featuring 50-week EMA. Source: TradingView
DOGE/USD four-hour price chart featuring ‘rising wedge’ setup. Source: TradingView

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3 charts showing this Bitcoin price drop is unlike summer 2021

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3 charts showing this Bitcoin price drop is unlike summer 2021

Bitcoin (BTC) bear markets come in many shapes and sizes, but this one has given many reason to panic.

BTC has been described as facing “a bear of historic proportions” in 2022, but just one year ago, a similar feeling of doom swept crypto markets as Bitcoin saw a 50% drawdown in weeks.

Bitcoin estimated hash rate chart (screenshot). Source: MiningPoolStats
Bitcoin active addresses chart. Source: CryptoQuant
Bitcoin exchange reserves chart. Source: CryptoQuant

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FTM Begins to Retest Previous Highs As Correction May Be Over

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FTM Begins to Retest Previous Highs As Correction May Be Over

  • Fantom (FTM) seems to be retesting previous highs.
  • FTM is currently down 1.97% and is trading at $0.2845.
  • FTM could look to target $0.3501 should the mini upwards move continue for FTM.

Fantom (FTM) seems to be “retesting previous highs”, according to Michael van de Poppe. This comes as there has been a mini relief rally in the crypto market.

This does not necessarily mean that FTM has established its bottom yet, so traders should still tread with caution.

Fantom / TetherUS 2h (Source: Binance).

At the moment, FTM is one of the top 100 cryptos on CoinMarketCap’s list of most valuable cryptocurrencies in terms of market cap. FTM occupies the 59th position and this places FTM behind The Graph (GRT) in the 58th position and in front of Quant (QNT) in the 60th position.

FTM is currently down 1.97% and is trading at $0.2845 after reaching a high of $0.2947 over the last day. This price translates to about 0.00001361 BTC and 0.0002356 ETH. Things look a bit better for FTM over the larger time frames as the crypto saw a 7.89% increase in price over the last seven days.

FTM now has a market cap that stands at $722,730,787 and when looking at FTM’s 24-hour trading volume, the crypto stands at $166,580,326. This number is down 12.82% over the last day.

Fantom / TetherUS 1W (Source: CoinMarketCap)

When looking at the weekly chart for FTM/USDT, the last two weeks have closed with the FTM price higher than it was at the beginning of the week. It now looks like the current week will also end on a positive note. FTM can now look to target $0.3501 should the mini upwards move continue for FTM. This is a key level because it is also the last price that FTM fell from on the weekly chart.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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