Top 5 cryptocurrencies to watch this week: BTC, ETH, MATIC, ALGO, EGLD

December 5, 2021 Coin Telegraph

Algorand

If BTC holds the $49,000 level, ETH, MATIC, ALGO and EGLD could move higher during Bitcoin’s expected “consolidation phase.”

Bitcoin (BTC) and most altcoins sold off on Dec. 4 with massive deleveraging seen in the crypto derivatives markets. Data suggests more than $2.5 billion of crypto liquidations over a 24-hour period.

During the recent fall, Ether (ETH) has continued to outperform Bitcoin. While Bitcoin’s market dominance has dropped below 41%, Ether has continued to gain ground and its market dominance has risen above 21%.

*Crypto market data daily view. Source:* *Coin360*

Some analysts believe that Bitcoin’s recent decline could result in a lengthy phase of consolidation. Decentrader co-founder filbfilb expects Bitcoin to consolidate well into the first quarter of the next year. Lex Moskovski, CIO of Moskovski Capital, also expects “a slow grind up.”

Could Bitcoin hit a bottom within the next few days? Let’s analyze the charts of the top-5 cryptocurrencies that could lead the markets higher.

BTC/USDT

Bitcoin had taken strong support at the 100-day simple moving average ($54,496) in end-September, making this an important support for the bulls to defend.

However, the bears had other plans. They pulled the price below the 100-day SMA on Dec. 3 which may have triggered several stop losses. That resulted in panic selling and the BTC/USDT pair plunged to $42,000 on Dec. 4. The bulls bought this decline with vigor as seen from the long tail on the day’s candlestick.

The downsloping 20-day exponential moving average ($56,219) and the relative strength index (RSI) near the oversold zone suggest that bears have the upper hand. If the pair continues lower from the current levels, the next stop could be the strong support at $40,000.

Conversely, if the price turns up from the current level, the pair could rise to the 100-day SMA, which may act as a strong hurdle. A break and close above this level will be the first sign that a stronger recovery is possible.

*BTC/USDT 4-hour chart. Source: TradingView*

The pair has been trading inside a descending channel pattern. The bears pulled the price below the support line of the channel but bulls purchased this dip and pushed the pair back into the channel.

If bulls successfully defend the support line, the pair could rise to the 20-EMA. This level is again expected to act as a strong resistance. If the price turns down from the 20-EMA, it will signal that sentiment remains negative. That may increase the likelihood of a break below the channel.

If that happens, the pair could drop to the strong support zone at $42,000 to $40,000. Conversely, a break and close above the 20-EMA will be the first sign that sellers may be losing their grip. The pair could then rise to the resistance line of the channel.

ETH/USDT

Ether (ETH) has been range-bound between $4,868 and $3,900 for the past few days. Although bears pulled the price below the range on Dec. 4, they could not sustain the lower levels. The bulls bought this dip aggressively as seen from the long tail on the day’s candlestick.

If bulls sustain the price above $3,900, the ETH/USDT pair could rise to the 20-day EMA ($4,326). A break and close above this level could clear the path for a possible rally to the all-time high at $4,868. The bulls will have to overcome this barrier to signal the resumption of the uptrend.

Contrary to this assumption, if the price turns down from the current level, the bears will make one more attempt to sink and sustain the pair below $3,900. If they succeed, the pair could plummet to the strong support at $3,400.

*ETH/USDT 4-hour chart. Source: TradingView*

The pair’s rebound is facing stiff resistance near the 61.8% Fibonacci retracement level at $4,215.12. The 20-EMA is sloping down and the RSI is in the negative territory, indicating a minor advantage to the bears.

If the price breaks the $4,000 support, the pair could drop to $3,823.98. A break and close below this level could result in a retest of $3,503.68.

Conversely, if bulls drive the price above the moving averages, the pair could rise to $4,654.88 and then challenge the all-time high.

MATIC/USDT

Polygon (MATIC) has been trading inside an ascending channel pattern for the past several days. The bulls pushed the price above the resistance line of the channel on Dec. 3 but could not sustain the higher levels. This may have prompted profit-booking on Dec. 4.

The MATIC/USDT pair plunged to the 100-day SMA ($1.54) but buyers stepped in and bought this dip. However, the long wick on today’s candlestick indicates that bears are selling near the resistance line.

The 20-day EMA ($1.85) is sloping up and the RSI is in the positive zone, signaling advantage to buyers. If the current rebound sustains, the bulls will again attempt to thrust the price above the resistance line.

Alternatively, a break and close below the 50-day SMA ($1.76) could pull the price to the 100-day SMA.

*MATIC/USDT 4-hour chart. Source: TradingView*

The pair’s recovery is facing selling at the 78.6% Fibonacci retracement level at $2.21. If bears sink the price below the 20-EMA, the pair could decline to the 50-SMA and then to the 100-SMA. A break below this support could open the doors for a decline to $1.54.

Conversely, if the price rebounds off the 20-EMA, the bulls will again try to thrust the pair above $2.21. If they manage to do that, the pair could rally to $2.40. The bulls will have to clear this overhead hurdle to thrust the pair to the all-time high at $2.70.

ALGO/USDT

Algorand (ALGO) plunged below the critical support at $1.50 on Dec. 4 but the bulls bought the dip aggressively as seen from the long tail on the candlestick. The bulls will now try to push the price above the moving averages.

If they do that, the ALGO/USDT pair could rise to the resistance line. This is an important level for the bears to defend because a break above it could invalidate the descending triangle pattern. The pair could then rise to $2.36 and later to $2.55.

Contrary to this assumption, if the price turns down from the moving averages, it will indicate that bears are selling on rallies. The pair could then retest the support at $1.50. A break and close below this level will complete the bearish setup. The pair could then drop to $0.80.

*ALGO/USDT 4-hour chart. Source: TradingView*

The pair has been trading between $1.60 and $2 for some time. The bears pulled the price below $1.60 but could not sustain the lower levels. This suggests aggressive buying on dips. The bulls have pushed the price back into the range.

If buyers drive the price above the moving averages, the pair could rally to the overhead resistance at $2. On the other hand, if the price turns down from the moving averages, the bears will again try to sink and sustain the pair below $1.60. If they manage to do that, a retest of $1.32 is likely.

EGLD/USDT

The sharp rally in Elrond (EGLD) from $287 on Nov. 17 to the all-time high at $544.25 on Nov. 31 pushed the RSI deep into the overbought zone. Vertical rallies are generally followed by waterfall declines and that is what happened in the past few days.

The EGLD/USDT pair turned down from the all-time high and plunged to $224.62 on Dec. 4, completing a 100% retracement of the latest leg of the rally.

A minor positive is that bulls purchased the lows on Dec. 4 as seen from the long tail on the day’s candlestick. The buyers are currently attempting to defend the uptrend line and push the price back above the 50-day SMA ($324).

If they manage to do that, the pair could rise to the 20-day EMA ($364) where bears may again mount a stiff resistance. If bulls overcome this hurdle, the pair could rally to $425.

Conversely, if the price dips and closes below the 100-day SMA ($271), the pair could extend its slide to $200.

*EGLD/USDT 4-hour chart. Source: TradingView*

Sharp selling pulled the price below the uptrend line but the bears could not sustain the lower levels. This indicates strong accumulation on dips. The pair quickly climbed back above the uptrend line but the bulls could not clear the barrier at the 20-EMA.

This indicates that sentiment remains negative and traders are selling on rallies. If the price sustains below the uptrend line, the next stop could be $224.62.

On the contrary, if the price turns up from the current level and breaks above the 20-EMA, it will indicate that the bears may be losing their grip. The pair could then start a recovery, which may reach the 50-SMA. A break and close above this resistance could clear the path for a possible rally to the $425 to $440 resistance zone.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

French startup brings vintage vines to the NFT market

December 3, 2021 Coin Telegraph

Blockchain

'It's like your NFT is the wine cellar, but it's in your wallet,' says the staff from World Wide Wines.

Many exciting developments are coming to the space of nonfungible tokens, or NFTs, ranging from Metaverse NFTs to fantasy soccer digital collectible cards and up to monster-battle NFT games. In fact, Cointelegraph Research predicts NFT sales will hit a record high of $17.7 billion this year.

But one French startup is taking more of an ambitious approach with wine NFTs. In an exclusive interview with Cointelegraph, Samuel Balthazard and Yacin Kharroubi, the chief executive officer and chief product officer of World Wide Wines, respectively, discussed the logistics of making French wine available on the blockchain. Samuel is the descendant of the family operating the Château du Rouët vinery in Provence, which has existed since 1840. The project itself is built on the Elrond network.

At 300 people we close the Wine List (it will reopen later with new conditions)

More details in our Discord : https://t.co/Oj6s9i8HGS

This is just the beginning of World Wide Wine and an advice… Never Forget to Taste a wine #NFT #Elrond
— World Wide Wine NFT ⚡️ (@wwwineNFT) November 30, 2021

Cointelegraph: A bottle of wine will cost differently, for example, in France than in China due to difference in taxes and customs duties. So what's the setup here with regards to such payments?

Samuel Balthazard: So, for the system, for the taxes, we have created a token named GRAPES. And when you buy an NFT, you stake some token in exchange for the permit to have the bottle. Then, when you want to take the bottle back [delivered], we use a system to know if there [are] enough GRAPES based on your country. For example, if you are in China [where the import taxes are high], you need to have more GRAPES tokens to pay the taxes. If you are in France, you are supposed to need fewer tokens.

CT: So, where are you guys in terms of product development? Are you guys already selling these NFTs or just building like the prototypes?

Yacin Kharroubi: So yeah, actually, we have been building this project for several months. But, we made the official announcement 10 days ago. So now, we have created all of the design We are going to launch the first drop of 300 NFTs, and we have already managed some partnerships with NFT collections and wineries for the moment.

CT: How will you guys ensure the safety and security of the bottles as there is an off-chain risk?

SB and YK: Yeah. For that, behind every NFT, there are three real bottles of wine because of the safety and the security. For these three bottles, we put them in three different vineyards, like we want to work at a cloud system, but with bottles.

Securing each NFT in a three-bottle setup is the first step of the process because we want to assure that if one bottle is lost or two bottles are missing, we still have the third one, but the customer will only own one bottle. We buy three bottles. But when you wait for one bottle, if nothing happens with each other, they go to the marketplace. So, and with NFTs, you have discounts on this marketplace. So you can go [...] on the marketplace and buy a discounted bottle. And the first part [is] we want to create a 'wine menu.' And it will be like an invitation to wine events or a discount in a wine bar or things like that.

The second step in terms of safety is about insurance. When you stake an NFT, you have some GRAPES. 30%, it's for fees; 30%, it's for the owner of the wine, stock, storage; 30%, it's for the vineyard. Meanwhile, the remaining 10% goes to us. So if the vineyard lost a bottle, he does not receive his GRAPES, so he has an [economic] interest in taking care of the bottle. And you can claim your bottle when you have enough GRAPES to pay the fees and shipping fee.

CT: It says that each NFT will represent a different type of wine on your site. So how will you guys determine the quality of wine?

SB and YK: Yeah, for so for this part, it's about data and data science. So, in the beginning, we wanted to show the wine's vintage as an attribute, but vintage is too subjective and too difficult for customers to choose. So we decided to create an attribute based on quality. And for this attribute, we're going to use historical data, but we will create a prediction model. So analyzing all the data which allows us to determine quality, for example, the weather, the rain, and sunshine of the vineyards where grapes are grown.

CT: Would you guys like to include any other statements or visions about what you are doing?

SB and YK: So we want to have three main objectives; first, digitalize the wine ecosystem, then, educate the people on how to spot good wine, and finally, gamification of the wine ecosystems [via the Metaverse]. We have a lot of ideas, for example, one wine collection of NFTs and then another. The ultimate step is to arrive at the real wine market with real wineries.

The last part, I think it's important, it's why the vineyards would be interested? The first part, it's about the second market. So, for example, when the Domaine Château du Rouët sells a wine, they control the first market. But, if the bottle appreciates in value over time, the winery doesn't control that. And with NFTs, you can put royalties on the second market, so Domaine Château du Rouët gets a commission from resales

Here’s What’s Next for Decentraland, The Sandbox and Elrond, According to Crypto Analyst Michaël van de Poppe

November 26, 2021 The Daily Hodl

Cosmos, Elrond Rally as Crypto Market Stalls

November 22, 2021 The Crypto Briefing

Top 5 cryptocurrencies to watch this week: BTC, AVAX, MATIC, EGLD, MANA

November 21, 2021 Coin Telegraph

Avalanche

If Bitcoin rises above $60,000, select altcoins such as AVAX, MATIC, EGLD and MATIC may remain strong.

Bitcoin (BTC) is witnessing a tough tussle near the $58,000 mark but that has not stopped select altcoins from hitting a new all-time high. This shows that traders are watching the fundamental developments on individual coins.

One of the recent top performing major altcoins has been Avalanche (AVAX), which has soared more than 120% in November. The coin caught traders’ attention leading up to the announcement by accounting firm Deloitte which plans to build its disaster relief platforms on the Avalanche blockchain.

In another step that shows growing crypto adoption, El Salvador's President Nayib Bukele announced the launch of Bitcoin city, which will be powered by geothermal energy and initially funded by $1 billion worth of Bitcoin bonds.

Could strong buying at lower levels boost Bitcoin above $60,000 and will altcoins participate in the recovery? Let’s study the charts of the top-5 cryptocurrencies that could attract traders’ attention in the short term.

BTC/USDT

Bitcoin reversed direction from $55,600 on Nov. 19 but the recovery is facing resistance at the 50-day simple moving average ($60,187). The moving averages are on the verge of a bearish crossover and the relative strength index (RSI) is in the negative area, indicating that bears are making a strong comeback.

If the price turns down from the current level, the bears will attempt to extend the correction by pulling the BTC/USDT pair below $55,600. If that happens, the next stop could be the strong support zone at $52,500 to $50,000.

If the price rebounds off this zone, the bulls will try to push the pair above the moving averages and the downtrend line. Such a move will indicate that the corrective phase may be over. The bulls will then try to drive the price above the all-time high at $69,000.

Alternatively, a break below the psychological support at $50,000 could intensify selling as traders rush to the exit. The pair could then drop to $45,000 and later to $40,000.

The 4-hour chart shows that bears pulled the price below the strong support at $58,000 but they could not build upon this advantage. The bulls bought the dip and have pushed the price back above the 20-exponential moving average.

If the price sustains above $58,000, the pair could rally to the downtrend line. A break and close above this resistance could indicate that bulls have the upper hand. The pair could then rally to $62,000 and later to $67,000.

Conversely, if the price turns down from the current level and breaks below $55,600, it will signal the possible start of a deeper correction.

AVAX/USDT

Avalanche is in a strong uptrend and has consistently been making new highs for the past few days. The bulls pushed the price above the 200% Fibonacci extension level at $146.18 today but the long wick on the day’s candlestick shows profit-booking at higher levels.

The rising 20-day EMA (96) indicates that bulls are in command but the RSI near 80 suggests that the rally may be overheated in the near term. This could result in a minor correction or consolidation in the next few days.

If the price turns down from the current level, $110 and then the 20-day EMA may act as a strong support. A sharp rebound off either level will suggest that the bulls are viewing the dips as a buying opportunity. The pair could then march toward the 261.8% Fibonacci extension level at $175.58.

Contrary to this assumption, if the price breaks below the 20-day EMA, it will suggest that traders are rushing to the exit. That may pull the AVAX/USDT pair to $81.

*AVAX/USDT 4-hour chart. Source: TradingView*

The pair has turned down from $147, indicating aggressive profit-booking at higher levels. The bears will now attempt to pull the price to the 20-EMA, which is likely to act as a strong support.

If the price rebounds off the 20-EMA, it will indicate strong buying on dips. The bulls will then try to resume the uptrend by pushing the pair above $147.

Contrary to this assumption, if the price breaks below the 20-EMA, the selling could accelerate and the pair may drop to $110. Such a move will suggest that the bulls may be losing their grip. The pair could thereafter drop to the 50-SMA.

MATIC/USDT

Polygon (MATIC) has been trading inside an ascending channel pattern for the past few days. The bulls pushed the price above the resistance line of the channel on Oct. 28 and 29 but failed to sustain the breakout. This may have prompted selling from short-term traders.

The bears again successfully defended the resistance line on Nov. 3. This started the downward journey toward the trendline of the channel. The downsloping 20-day EMA ($1.69) and the RSI just below the midpoint indicate a minor advantage to sellers.

If the price turns down from the current level, the MATIC/USDT pair could drop to the trendline. The bulls are expected to defend this level aggressively. If the price rebounds off the trendline and rises above the 20-day EMA, it will indicate that the selling pressure may be reducing. That may signal the start of the northward journey toward the resistance line.

Contrary to this assumption, if bears sink the price below the trendline, it could result in a decline to the psychological support at $1.

The 4-hour chart shows that bulls are attempting to stage a relief rally from the strong support zone at $1.50 to $1.40. The 20-EMA has started to turn up and the RSI is near the center, indicating that the selling pressure may be reducing.

If bulls drive the price above $1.70, the pair could rise to $1.80. A break and close above this level will indicate strength. The pair could then start its up-move toward $2.15. On the downside, the selling may accelerate if the bears pull the price below $1.40.

EGLD/USDT

The bears tried to pull Elrond (EGLD) below the breakout level at $303.03 from Nov. 16 to 18 but the bulls bought the dips as seen from the long tail on the candlesticks. Strong buying on Nov. 19 pushed the price above the overhead resistance at $338.70.

This resumed the uptrend and the EGLD/USDT pair has reached near its pattern target at $427. The sharp rally has pushed the RSI deep into the overbought zone, suggesting that a minor consolidation or correction could be around the corner.

The first support on the downside is the breakout level at $338.70 and then the 20-day EMA ($325). If the price rebounds off either level, it will suggest that traders continue to buy on dips. The bulls will then try to resume the uptrend with the next target objective at $500.

This positive view will be invalidated if the price turns down and plummets below the breakout level at $303.

*EGLDT/USDT 4-hour chart. Source: TradingView*

The 4-hour chart shows that bears tried to stall the up-move at $400 but the bulls were in no mood to relent. Sustained buying at higher levels pushed the pair above the psychological barrier. The rising 20-EMA and the RSI in the overbought zone indicate that bulls are firmly in the driver’s seat.

The first important level to watch on the downside is $380. If bears pull the price below this support, the pair may drop to the 20-EMA. A strong rebound off this support could keep the uptrend intact but a break below it will suggest that the bullish momentum may be weakening.

MANA/USDT

Decentraland (MANA) turned down from the 78.6% Fibonacci retracement level at $4.35 on Nov. 20. This indicates that traders may be selling on rallies.

The MANA/USDT pair could now drop to the immediate support at $3.50 and if this level gives way, the correction could deepen to the 20-day EMA ($3.11). If the price rebounds off either support, it will suggest that sentiment remains positive and traders are buying on dips.

The bulls will then attempt to push the price to $4.36. A break and close above this resistance could open the doors for a rally to $4.94. This positive view will invalidate if the price continues lower and breaks below the 20-day EMA.

*MANA/USDT 4-hour chart. Source: TradingView*

The pair has been rising inside an ascending channel pattern. The failure of the bulls to push the price above the resistance line may have prompted selling from traders, pulling the price below the 20-EMA.

Both moving averages have flattened out and the RSI has dipped near the midpoint, suggesting that the bullish momentum may be weakening. The pair could now drop to the trendline of the channel where buying may emerge.

If the price rebounds off the trendline, the pair could continue its up-move inside the channel. The buyers will then try to push the price to the resistance line. The bullish momentum could pick up on a break and close above the channel.

Bloktopia co-founder aspires to build a metaverse with ‘hundreds of the best crypto projects’

November 19, 2021 Coin Telegraph

AMA

In an exclusive ask-me-anything session with Cointelegraph Markets Pro on Discord, Paddy Carroll discussed virtual real estate sales, roadmaps, tokenomics and more regarding the upcoming Bloktopia metaverse.

Bloktopia is a virtual skyscraper in the Metaverse comprised of 21 levels, designed to pay homage to the 21 million total maximum supply of Bitcoin (BTC). Owners of its BLOK tokens will be known as Bloktopians. Users will be able to buy and sell nonfungible tokens (NFTs), purchase digital ad venues, own real estate and more in the Bloktopia virtual reality. Meanwhile, Bloktopians can also earn revenue by selling or leasing virtual property in the skyscraper to interested buyers.

*Bloktopia in-game footage.* *Source: Bloktopia*

The project, set to launch sometime in 2022, is built on the Polygon network, an Ethereum layer-two scaling and infrastructure development network. In addition, Elrond, a blockchain sharding protocol, is to become the anchor tenant in Bloktopia, with its virtual headquarters to be featured on level one, where all players spawn. During an exclusive ask-me-anything (AMA) session with Cointelegraph Markets Pro users on Discord, Bloktopia co-founder and chief marketing officer Paddy Carroll discussed the key aspects of its virtual ecosystem:

Cointelegraph Markets Pro: First of all, how do regular people access the Metaverse? Are special glasses required? How do you walk around and interact?

Paddy Carroll: We will make entering Bloktopia as accessible as possible. We are finalizing our roadmap and will be sharing it very shortly. We envisage a version with VR glasses and a downloadable version in time.

CT Markets Pro: In which stage is Bloktopia right now? What are the next steps?

PC: We are building Levels 1 and 6 and the auditorium. We will be holding some events in the near future. We hope to have a beta version of Bloktopia ready for March 2022.

CT Markets Pro: What is Polygon? Does the project effectively control Bloktopia?

PC: Surely people have heard of Polygon? If not, Polygon is a scaling solution that aims to provide multiple tools to improve the speed and reduce the cost and complexities of transactions on blockchain networks. We are building Bloktopia on it. It doesn’t control Bloktopia; [it] more facilitates transactions.

CT Markets Pro User: Also long back, 1) I entered in lucky winners for ReBlok’s Google form, No communication on that. 2) I am keeping my BLOKs to buy ReBlok on Level 1; I even selected a few from their maps that they released last month, but now this JOBE thing has taken over. I don’t know when the real land sale will happen. 3) I heard last month there will be a Bloktopia wallet, but still no wallet. I would love to have a communication on the above things if possible. Thanks.

PC: As you mentioned, we put a statement out on tokenomics, which I think you have acknowledged clarifying your first point. To cover the other questions, they all stem back to the fact that the Bloktopia NFT Land Sale Portal is still in development and not ready to be released yet. But I am hopeful this will be ready to go very, very soon. More to come, I promise.

CT Markets Pro User: Will there be other Bloktopia skyscrapers? Either geographic or time-based? How essential is VR to the experience? Who is the main target audience to start with? A centralized place in the Metaverse seems like an oxymoron. When did you realize that you were onto something?

PC: We have no plans for other skyscrapers at the moment. VR is part of our thinking but not mandatory. The main target audience is anyone with a vested interest in crypto. We love the decentralized nature of crypto and wouldn’t want to change it, but ultimately, it is fragmented and time-consuming; Bloktopia pulls everything together to make it easy. It doesn’t alter the decentralized nature of crypto. When we realized this was a big problem in the crypto world and started having several conversations with people who agreed, we realized that we were onto something.

CT Markets Pro User: Can you share more about the BlokPad? There are plenty of gaming launchpads and already a Metaverse pad too. So what’s unique about yours (other than it’s a reason for people to hold BLOK).

PC: Sure, this is our new launchpad, which we have just announced this week. We have plenty of reading material about BlokPad on our Medium. We are in a position where we have a Metaverse that will hold hundreds of the best crypto projects there are. We also have had one of the most successful IDOs [initial decentralized exchange offerings] that there has ever been. So projects are asking for our help, and we have a tried and tested formula. We are in a fortunate position where we can be selective and only choose the best projects in the marketplace. Then of course, we also now have another utility for BLOK, which is great.

CT Markets Pro: Is there an NFT marketplace within the Metaverse? Is that exclusive to Bloktopia, or can other projects create their own?

PC: Yes, there will be, it will be ready in the next couple of weeks, and more details will be shared then.

CT Markets Pro: Why do you think some NFT collections are worth $10 million while most others are worthless?

PC: There is an argument to say that NFTs sales are a bubble that is waiting to burst. That’s not necessarily something I subscribe to, but I do see more value in NFTs with utilities.

CT Markets Pro: What are the current actual use cases for the Metaverse? For example, how is it different than working with a Zoom window beside your screen?

PC: Well, you can’t have several immersive experiences at once in Zoom. You can’t interact with more than one person. The metaverse is a much more socially engaging tool. You can interact with people/ brands. Watch live or recorded content, including concerts or sporting events. Order food/ clothes. Customize your avatar. Have private rooms where you can hang out with friends. Or meet new people and share experiences/ learn. Plus, you can enter games and win things like free BLOK or even a Lamborghini. You can do anything that you can do in the real world and more but from the comfort of your own home.

CT Markets Pro: Understood. So, the Metaverse is unlikelylooking to integrate with open-source technology. And how does Bloktopia expect to integrate, for example, NFT-based multiplayer online games from third parties?

PC: We are working through the possibilities of integrating other games; there are many questions about if we want to do that, and if so, what those games would be. But we do know that we can do it; it is possible. That’s the beauty of a virtual reality world.

CT Markets Pro: Is there a separate company/project to help businesses get up and running on Bloktopia? Such as a “Metaverse developer”?

PC: We have BlokPad, which will help to launch new crypto projects. We also have an estate management team to help tenants with their space design, features, and basic navigation. So yes, we do offer this as part of the Bloktopia service.

CT Markets Pro: How can businesses and regular people generate income using Bloktopia? How much does one need to start?

PC: BLOK will act as a currency within Bloktopia, allowing people to purchase items within our world. BLOK will initially be used to purchase NFTs, sold for real estate and advertising space in Bloktopia, which both generate incomes from advertisers and rental fees. The higher the daily active users within Bloktopia, the more revenue generated from the big data produced and the impressions brands pay for when they advertise on the totems within Bloktopia and rent space. Meaning that all NFTs within Bloktopia, whether ReBlok or AdBlok, generate revenue for the holders and the more typical asset appreciation.

CT Markets Pro: Is there some exclusivity to the BLOK token for products and services commercialized within Bloktopia?

PC: BLOK will be important in Bloktopia. Exclusivity is something in our minds for unlocking certain parts of the Metaverse.

CT Markets Pro: What programming and designing skills are necessary to create spaces and applications?

PC: We are currently building out Bloktopia in the Unity Engine. So if somebody wanted to get involved in the creation, further down the line, they would need to understand Unity design.

CT Markets Pro: There’s a token lock for those buying real estate in the presale, so how exactly will newcomers develop their virtual lands and services?

PC: This is maybe two questions? Yes, if you bought tokens privately or in the IDO, there is a token lock; we will always release enough tokens to enable people to buy NFTs (REBLOK and ADBLOK). Newcomers would need to buy BLOK to get involved.

CT Markets Pro: When will the DAO governance be in place? Is there a protection mechanism from large holders such as exchanges, ETFs or custodians?

PC: Tenants won’t form part of the DAO. The DAO will be made up of the NFT holders. So if you own a REBLOK in the Binance store, you are part of the DAO. Each REBLOK earns you 1 x vote. There are 50 per store.

CT Markets Pro: What is Animoca Brands’ relationship with Bloktopia? What can we expect from it?

PC: They are our lead investor. They are opening plenty of doors for us, so we really value their input.

CT Markets Pro User: Will there be a token burn in the future?

PC: We are currently planning something in this space. We are in a humbling and grateful position where our token price rose so much from our IDO that it has changed how we need to look at things slightly and replan. Burning tokens is a consideration, along with a few other options.

CT Markets Pro: So, where will the project go once the real estate on all 21 floors has been filled? I.e., will there be a similar skyscraper(s) built next to it and floors set for auction?

PC: I am pretty consumed at the moment with thinking about creating, filling, and operating 21 levels. Let’s get the skyscraper fully operational, and then we will see. The beauty of a Metaverse is that any restrictions don’t constrain us.

CT Markets Pro: Could you provide more color on the integration between Bloktopia and the Elrond blockchain?

PC: Well, we are delighted that Elrond is an anchor tenant on Level 1 of Bloktopia. We have announced a partnership and are exploring things with them, but I can confirm nothing at this stage. We’re pleased to have them on board, though, and see lots of potential for collaboration.

CT Markets Pro User: Could you please touch on when can we expect Bloktopia Wallet of its own? Thanks.

PC: It’s ready! It is literally just being tested. We don’t really need to put it live until the NFT Portal is prepared too, so we will thoroughly test both first and share our new products with the community.

CT Markets Pro User: One last quick suggestion paddy - Bloktopia Community management needs some improvements. It looks pretty rude and banning people for no reason. Even I got banned just for praising the project. Clearly, it is frustrating for holders. Would you please improve community communication which is not rude? Thanks.

PC: I try to keep tabs on the Telegram group as much as I can, but it is impossible to do that 24/7. We are aware that some of the moderators were a little overwhelmed with how fast our growth has taken over the group, and as such, we have taken steps to strengthen our team. Sorry if your experience so far hasn’t been great; we are working on this. I think maybe we need a Discord channel?

CT Markets Pro User: Hey Paddy! Can you go into any details about the partnership with MetaHero?

PC: Metahero is a tenant, they have got a prime spot in Bloktopia. They are currently briefing us on what they would like to get out of their virtual space, and we have some exciting plans.

CT Markets Pro User: Apologies if this has been covered already, but will Bloktopia be available on Oculus Quest?

PC: Yes, it will in time. More will become clear in our roadmap.

CT Markets Pro: So, how will community management play out? Will it be more of a laissez-faire type of ecosystem where players/users do their own thing with little oversight?

PC: Bloktopia is only as good as what happens inside it. We don’t want to be restrictive, but security is top of our agenda, and as such, we will be monitoring for illegal activity. That will absolutely not be allowed.

New Tenancy Announcement

Welcome to the Bloktopia metaverse @solana

A new HQ and a focus on technical integrations in the NFT space

Exciting times ahead!$BLOK #blokarmy #Metaverse #Meta #WhoIsNext pic.twitter.com/siqxY4aaan
— Bloktopia (@bloktopia) November 18, 2021

Crypto Trader Aaron Arnold Bullish on Several Altcoin Projects, Predicts Continued Dominance for Bitcoin and Ethereum

November 12, 2021 The Daily Hodl

Top 5 cryptocurrencies to watch this week: BTC, DOT, LUNA, AVAX, EGLD

November 7, 2021 Coin Telegraph

Avalanche

Even as Bitcoin consolidates, DOT, LUNA, AVAX and EGLD may continue their upward journey.

Bitcoin’s (BTC) dominance has dropped from about 48% on Oct. 20 to 42.3% on Nov. 7 while the total crypto market capitalization has continued its northward journey. This indicates that the price action has shifted from Bitcoin to altcoins.

CryptoQuant CEO Ki Young Ju said that Bitcoin whales are selling but this has not resulted in the breach of the strong support at $60,000. He also pointed out that Bitcoin reserves across exchanges have continued to decrease, indicating strong appetite from buyers.

The majority of the market participants remain bullish on Bitcoin and anticipate a rally to $288,000 by the start of 2022, according to a survey conducted by PlanB.

Real Vision founder Raoul Pal also projected a bullish picture for cryptocurrencies in an interview on Nov. 3. He said the current bull run is unlikely to top out in December of this year and may extend to between March and June of the next year. Pal anticipates the possible launch of Ethereum 2.0 and the likelihood of an Ether (ETH) exchange-traded fund being green-lit in the first half of 2022 will attract institutional investors and trigger a massive rally.

In this bullish backdrop, let’s analyze the charts of the top-5 cryptocurrencies that may remain in focus and outperform in the short term.

BTC/USDT

Bitcoin broke above the bullish flag pattern on Nov. 2 but the buyers could not capitalize on this move and push the price above the overhead resistance zone at $64,854 to $67,000. This indicates the bears have not yet given up and are attempting to stall the up-move.

However, a positive sign is that bulls are aggressively defending the 20-day exponential moving average ($60,794). The buyers will make one more attempt to push the price above the overhead resistance zone.

If they can pull it off, the bullish momentum may pick up and the BTC/USDT pair is likely to rally toward the pattern target at $89,476.12.

This bullish view will invalidate if the price breaks and dips back into the flag pattern. The pair may then drop to the 50-day simple moving average ($54,883). The zone between the 50-day SMA and $52,920 is likely to attract strong buying support from the bulls.

The 4-hour chart shows the pair is range-bound between $63,732.39 and $59,500. The flat moving averages and the relative strength index (RSI) just above the midpoint indicate a balance between supply and demand.

If the price rebounds off the moving averages, the bulls will again attempt to propel the price above the overhead resistance zone between $63,732.39 and $64,270. If they manage to do that, the pair may retest the all-time high.

Conversely, a break below the moving averages could pull the pair to the strong support zone at $59,500 to $58,000. The bears will gain the upper hand if this zone is breached. The pair could then correct to $55,267.61.

DOT/USDT

Polkadot (DOT) soared and broke above the overhead resistance at $49.78 on Nov. 1. The RSI broke above the downtrend line, invalidating the negative divergence. This suggests the resumption of the uptrend.

The bears tried to pull the price back below the breakout level on Nov. 6 but the long tail on the candlestick shows that bulls are buying on dips. The rising moving averages and the RSI near the overbought zone indicate the path of least resistance is to the upside.

If bulls thrust the price above $55.09, the DOT/USDT pair could rally to $63.08. The bears may have other plans as they will attempt to sink the price below the breakout level at $49.78. Such a move will suggest a lack of buyers at higher levels.

A break and close below the 20-day EMA ($46.82) will be the first sign that the bulls may be losing their grip. The pair could then drop to the 50-day SMA ($38.54).

*DOT/USDT 4-hour chart. Source: TradingView*

The 4-hour chart shows that the pair is rising inside an ascending channel. Although bulls pushed the price above the channel, they have not been able to build upon the advantage. This indicates that the bears are defending this resistance with vigor.

The pair rebounded from the centerline of the channel and the bulls will again try to clear the overhead hurdle. If they succeed, the pair may pick up momentum.

Alternatively, if the price turns down from the current level or the overhead resistance and breaks below the centerline, the pair may drop to the support line. A bounce off this level will keep the uptrend intact but a break below it will signal a possible change in trend.

LUNA/USDT

Terra protocol’s LUNA token broke and closed above the overhead resistance at $49.54 on Nov. 4. The bears tried to pull the price back below the breakout level on Nov. 5 and 6 but could not sustain the lower levels. This suggests that the bulls are buying on dips.

If bulls drive the price above $53.18, the LUNA/USDT pair could rally to the resistance line of the wedge where the bears are expected to mount a stiff resistance. The bullish momentum could pick up if bulls thrust the price above the wedge.

Alternatively, if the price turns down from the current level or the overhead resistance, the pair may drop to the support line of the wedge. A break and close below this support will signal a possible change in trend. The pair could then drop to $35.

*LUNA/USDT 4-hour chart. Source: TradingView*

The bulls pushed the price above the resistance line of the triangle indicating that they had overcome the resistance from the bears. The sellers tried to pull the price back into the triangle but the bulls defended the breakout level aggressively.

Both moving averages on the 4-hour chart are sloping up and the RSI is in the positive territory, indicating advantage to buyers. If bulls drive the price above $53.18, the pair may rally to the pattern target at $62.59.

AVAX/USDT

After trading near the overhead resistance at $79.80 for the past three days, Avalanche (AVAX) has broken above the barrier. This indicates the possible resumption of the uptrend.

The rising moving averages and the RSI in the overbought territory indicate that bulls are in control. If the price sustains above $79.80, the AVAX/USDT pair could rally to $93.04 and then try to challenge the psychological level at $100.

Contrary to this assumption, if the price turns down from the current level and dips back below $79.80, it will suggest that markets have rejected the higher levels. The pair could then drop to the 20-day EMA ($69.51).

The 4-hour chart shows the formation of a rounding bottom pattern which completed on a breakout and close above $79.80. If bulls sustain the price above $79.80, the pair could start its northward march toward the pattern target at $108.56.

The first important level to watch on the downside is $79.80. A bounce off this level will indicate that bulls are aggressively buying on dips and that will increase the likelihood of the resumption of the uptrend.

Conversely, a break below $79.80 could sink the pair to $72. A break below this support will suggest that bears are back in the game.

EGLD/USDT

Elrond (EGLD) broke above the previous all-time high at $303.03 on Nov. 3, which is a positive sign. The bears tried to pull the price back below the breakout level on Nov. 5 and 6 but failed.

This suggests that bulls are attempting to defend the breakout level and flip it into support. A break and close above $329 will signal the resumption of the uptrend. The rising 20-day EMA ($281) and the RSI near the overbought zone indicate the path of least resistance is to the upside.

Contrary to this assumption, if the EGLD/USDT pair turns down from the current level and breaks below $303.03, the next stop could be the 20-day EMA. A strong rebound off this support will keep the uptrend intact but a break below it could open the doors for a deeper correction to the 50-day SMA ($249).

The 4-hour chart shows the formation of an ascending triangle pattern, which completed on a break and close above $303.03. This positive setup has a pattern target at $427 but the rally may not be linear as the bears are likely to pose a stiff challenge at $355.

A break below the 20-EMA will be the first sign of weakness. That could pull the price down to the breakout level at $303, which is an important support for the bulls to defend. If this support cracks, the pair may drop to the 50-SMA and then to the trendline of the triangle.

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Elrond

BTC/USDT

ETH/USDT

MATIC/USDT

ALGO/USDT

EGLD/USDT

BTC/USDT

AVAX/USDT

MATIC/USDT

EGLD/USDT

MANA/USDT

BTC/USDT

DOT/USDT

LUNA/USDT

AVAX/USDT

EGLD/USDT

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