노 시스, Bitcoin이 방향을 찾을 때 Balancer 및 PancakeSwap 브레이크 아웃

에테르 (ETH) continued its stellar run and crossed the $3,500 barrier today. 도지 코인 (총독) also joined in on the party as its price soared above $0.61 earlier today as Gemini exchanged added support for the coin following a similar step by eToro.

Traders may be buying DOGE with the expectation that Elon Musk will shill the token during his upcoming appearance as the host of Saturday Night Live.

While the rise of DOGE is tempting, traders should be careful with their bets because barring the jawboning by some popular individuals, the fundamentals of the coin look shaky.

암호 화폐 시장 데이터 일별보기. 출처: 코인 360

Although altcoins are having a field day, Glassnode recently pointed out that Bitcoin’s (BTC) Stablecoin Supply Ratio had plunged to a 2021 low at 13.4. The SSR is calculated by dividing Bitcoin’s supply by th stablecoin supply and its all-time low is 9.6. Glassnode said the low SSR value was a bullish sign as it showed greater availability of crypto-native capital that could flow into Bitcoin and other crypto-assets.

In the altcoin season, the decentralized finance space has been the star performer. Let’s study the fundamentals and technicals of three DeFi related tokens that have done well in the past few days.

GNO/USD

Decentralized exchanges have risen in popularity in the past few months but they are still plagued with certain shortcomings. One of the problems DEX users face are bots that front-run transactions and cause slippage. According to MEV-Explore more than $477 million in value has been extracted from DEX traders since Jan. 1, 2020.

To solve the problem of MEV and improve the experience of DEX users, 노 시스 (GNO) recently announced a partnership integration with Balancer to form the Balancer-Gnosis-Protocol, which plans to blend Balancer’s pool mechanisms with the price-finding mechanism of Gnosis and is expected to go live in mid-June. This could attract several traders who have been avoiding trading on DEXs due to MEV.

During bull markets, several new projects are announced as trader’s appetites are high. 하나, the price discovery of a new token has been a major issue bogging the crypto space. 이 문제를 해결하려면, Gnosis launched a new platform dubbed Gnosis Auction on April 6. The protocol claims the platf will conduct transparent and decentralized batch auctions for any Ethereum project.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for GNO on April 28, 최근 가격 상승 이전.

VORTECS™ 점수, Cointelegraph 전용, 시장 감정을 포함한 데이터 포인트 조합에서 파생 된 과거 및 현재 시장 조건의 알고리즘 비교입니다., 거래량, 최근 가격 변동 및 트위터 활동.

VORTECS™ 점수 (초록) vs. GNO price. 출처: Cointelegraph Markets Pro

위의 차트에서 볼 수 있듯이, VORTECS™ Score for GNO flipped green on April 28 가격이 $201.15.

거기에서, VORTECS™ Score consistently remained in the green barring a brief period and GNO rallied to a high at $258.70 오늘, 상인을 그물로 잡기 28% return in about seven days.

GNO has been in a steady uptrend and it has rallied from $171.32 4 월 25 하루 중 최고로 $261.30 오늘, 상승 52% in ten days. This sharp rally of the past few days has pushed the relative strength index (RSI) 과매 수 영역으로.

GNO/USD daily chart. 출처: TradingView

보통, when an asset is backed by momentum, it does not give up much ground during corrections. The bulls jump in and buy every minor dip as they expect the rally to continue. 단점에 대한 첫 번째 지원은 $224.07 and then the 20-day exponential moving average ($206).

A strong rebound off either support will suggest the sentiment remains positive and traders are buying on dips. The bulls will then try to resume the up-move and push the GNO/USD pair to the next target objective at $282.54 그리고 $300.

This bullish view will invalidate if the price turns down and breaks below the 20-day EMA. Such a move will suggest that traders are booking profits aggressively and that could pull the price down to the 50-day simple moving average ($174).

BAL/USDT

Automated market maker Balancer (공) announced the developer launch of its next big upgrade named Balancer V2 on April 20. The major change in the new version is that all the assets added by all Balancer pools will be held in a single vault.

While the AMM logic will be unique for each pool, the token management will be done by the vault. The protocol claims this will improve gas efficiency and enable drafting of various AMM strategieswithout having to worry about low-level token transfers, balance accounting, security checks and smart order routing.”

Balancer’s partnership with Gnosis will form the Balancer-Gnosis-Protocol which will be interoperable with any DEX but will have the maximum gas efficiency when traded against Balancer pools. The steps taken to reduce gas fees and improve user experience may give Balancer an advantage over competitors.

The protocol is also promoting its Liquidity Bootstrapping Pools for projects that want to distribute tokens in a fair and capital-efficient way.

BAL rallied from $44.73 4 월 25 하루 중 최고로 $75.08 오늘, rising over 67% in ten days. 이 기간 동안, the price climbed from the support line of the ascending channel to the resistance line of the channel.

BAL/USDT daily chart. 출처: TradingView

The bears have defended the resistance line of the channel on two previous occasions, hence the level is likely to act as a major hurdle once again. A drop from the current level is likely to find support at the 50-day SMA ($56.47).

Both moving averages are moving up gradually and the RSI is above 61, suggesting the bulls have the upper hand. 가격이 이동 평균에서 반등하면, the bulls will make one more attempt to push the price above the channel.

그들이 성공한다면, the BAL/USDT pair could pick up momentum and charge toward the next target objective at $100. The bullish momentum may weaken if the pair plummets below the moving averages. A break below the channel will signal advantage to the bears.

케이크 / USDT

팬케이크 스왑 (케이크) was featured on Cointelegraph on April 8 when it was trading at $20.91. 거기에서, the token rallied to hit an all-time high at $44.27 4 월 30, 녹음 111% gain in just over three weeks.

The protocol launched an auto-compounding CAKE syrup pool on April 30, which removes the need to manually re-stake CAKE to get the best yields. The new feature seems to have gained popularity among users as the protocol reported on May 3 그 18.5 million CAKE tokens had been deposited in the said pool.

최근에, data from DappRadar showed that PancakeSwap had completed 2 million transactions in a 24-hour period surpassing the 1.55 million transactions done on the Ethereum network. The growing popularity seems to have enabled the protocol to complete its biggest burn of 5,143,789 CAKE tokens.

PancakeSwap launched the BETA version of Prediction on April 28. This allows traders to bet on the direction of the BNB/USDT pair’s close at the end of a 5-minute live phase. If the chosen direction is correct, the trader wins a reward.

While professional short-term traders may be successful in such predictions, novice traders should be careful as this could become addictive and one could quickly lose a lot of money within a short time.

The latest leg of the up-move in CAKE had pushed the RSI above 81 4 월 29, indicating the token was overbought in the short term. That could have attracted profit-booking from the momentum traders, resulting in the current correction.

CAKE / USDT 일일 차트. 출처: TradingView

The first critical support on the downside is the 20-day EMA ($32.75). The bears have not been able to sink and close the price below this support since March 23. 따라서, the bulls are likely to buy the dip to the 20-day EMA.

A strong rebound off this support will suggest the sentiment remains positive. The bulls will then try to push the price above $44.27 상승 추세를 재개하십시오. 그들이 성공한다면, the CAKE/USDT pair could climb to $55.

이 가정과는 반대로, 약세가 20 일 EMA 아래로 가격을 내리면, 거래자들이 공격적으로 이익을 예약하고 있음을 시사합니다.. That could pull the price down to the breakout level at $30.

여기에 표현 된 견해와 의견은 전적으로 저자의 견해이며 반드시 Cointelegraph의 견해를 반영하는 것은 아닙니다.. 모든 투자 및 거래에는 위험이 수반됩니다, 결정을 내릴 때 스스로 조사해야합니다..

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