From a purely technical perspective, the following 3 tokens' charts have all recently completed bullish divergences, breaking the multiyear downtrend and have rallied above both the 50 and 200 Week EMAs, indicating a longer-term trend reversal. While we are not expecting significant gains in altcoins until later in 2021 or possibly 2022, these tokens appear to have bottomed and are forming consolidation base patterns not far off the lows before being lifted higher later this year.
Basic Attention Token (BAT)
Market Cap: $1.9 billion
As you can see, BAT bottomed in Dec 2020 before rallying against BTC straight through the end of March, putting in its highest price since September 2020. More importantly, you can see BAT/BTC is now trading above the 50 and 200 Week EMAs, even recently finding support at the 200 Week EMA before buyers stepped in to buy the dip while BAT briefly dipped under $1. BAT has since rebounded and is currently trading around $1.25.
0x Protocol (ZRX)
Market Cap: $1.34 billion
ZRX has also snapped its long-term downtrend, putting in a higher high in early 2021 and is currently forming a bullish ascending triangle which tends to break to the upside at the conclusion of the triangle. ZRX should benefit from the rise of DeFi and real-life utility of dApps across the ecosystem as well as in TradFi and FinTech.
Status Network Token (SNT)
Market Cap: $625 million
SNT is another ERC-20 token that bottomed in late 2020 and has since rallied to a higher high in early 2021, breaking above the 50 and 200 Week EMAs and reaching its highest price since September 2020. The SNT team has been extremely active in building open-source web3 products which should give some lift during an already supportive bull market. SNT is also the smallest-cap of the 3 tokens mentioned, meaning higher volatility and less volume required to move SNT and send it up into price discovery mode.
Buy Crypto here.
Earn Crypto here.