Major Cryptocurrencies Trading Modestly Positive on Monday
Bitcoin and Ether are showing a slight upward trend, but remain within recent ranges. Volatility levels remain low as markets await clarity on US regulation and Bitcoin ETF approvals. However, some altcoins are experiencing movement.
Hedera (HBAR) Rallies on FedNow Service Addition
- HBAR, the token powering the Hedera public ledger, has risen around 16%.
- The US Federal Reserve’s FedNow service added Dropp, a micropayments platform built on the Hedera blockchain, as a service provider.
- HBAR has broken an uptrend since June and its 200DMA, potentially leading to a retest of yearly highs.
Render (RNDR) Rebounds and Eyes 200DMA Retest
- RNDR, the cryptocurrency powering the Render Network, has increased over 5%.
- The token has rebounded after testing long-term support and may retest the 200DMA at $1.80.
- A break above the 50DMA and downtrend resistance at $1.85/1.86 could lead to a rally above $2.0, while a “death cross” could result in a retest of recent lows in the low $1.50s.
ApeCoin (APE) Surges with Bored Ape Yacht Club Affiliation
- APE, the native crypto token of the ApeCoin DAO, is up 3.5%.
- If APE can break free from the downward trend channel, it may challenge resistance at $2.50.
Crypto Presales as High-Risk-High-Reward Investments
Investing in crypto presales, where tokens of up-start crypto projects are bought to fund development, can offer high rewards. Identifying projects with strong teams and revolutionary applications/platforms can yield exponential gains. Here is a list of 15 of the best crypto presales in 2023.
Hot Take
While major cryptocurrencies remain range-bound, altcoins such as HBAR, RNDR, and APE are showing potential for gains. Additionally, investing in crypto presales can be a high-risk-high-reward strategy for those seeking near-term profits.
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