Crypto and stock markets seem to be melting down together where most cryptos are showing a 10-20% loss. Some managed smaller losses, while some are bleeding. In short, green candles are rare in today’s chart.
But no reason to panic. Corrections like this are part of the game. Hodl and don’t panic sell is the key because even in the current market conditions, positive price movements like that of Near protocol are seen. Therefore, in this article, you will discover the top 5 weekly altcoins.
The Best 5 Altcoins of Week 15 2022
The key is to identify what could pump this week. Here are our cherry-picked coins for this week along with the TA with support and resistance level so that you can always make an educated decision.
Coin 1: NEAR
Our first coin of this week is NEAR. Near protocol has been in the spotlight recently because the NEAR token value almost doubled at one point. Three events secured their place in the hot seat over recent weeks:
- They raised $350 million in a funding round. Tiger Global led this round.
- Zoran Kole is the person behind the Crypto Insiders Telegram group. He revealed some interesting news about Near. Come April 20th, NEAR will launch its native stablecoin. This will be the USN coin, and it is algorithmic.
Artists, producers and record labels are using Web 3 tools to help reimagine music. 😎
In this series we explore how and why blockchain has become so popular among musicians.
Learn more: https://t.co/5qSjDbQlmB
— NEAR Protocol (@NEARProtocol) April 11, 2022
According to Zoran, they will offer a 20% APR. This will attract money into their ecosystem. As a result, they become direct competitors to Terra LUNA. The Anchor protocol currently offers 19.5% APR. Furthermore, Zoran also stated that Coinbase will list the NEAT token soon. In turn, this allows the NEAR NFTs to get listed on Coinbase’s NFT marketplace. However, this NFT marketplace is still waiting for its release.
Therefore, this is all exciting news, and it is reflected accordingly on the NEAR token.
- During the last 14 days, the token saw a 20.6% price increase.
- Over the last 30 days, it went up by 54.8%.
- In 1 year time, the token increased by 143.5 in value.
Also, here is our price prediction analysis on the NEAR token:
NEAR broke the bearish downtrend line on the lower time frame like 4hour(4H) and is trading above the support zone of $14. If it stays above this zone and the resistance level at $17.95 is broken then we could start seeing a move towards $20.60, $23.80, and above.
Bearish Scenario: NEAR has been in an uptrend channel for the last few weeks but we can’t ignore the bearish scenarios altogether. So failure to hold the support at $11.50 and breaking below $9.60 could lead to a drop towards $7.60 and below.
Moreover, if you want a more detailed technical analysis of Near Protocol checks out the video by Frank that talks about a historic price indicator identified on Near price charts.
Coin 2: ELROND
Our next pick for the week is our all-time favorite, Elrond. Elrond is known as the king of sharding by offering many sharding variations. As a result, Elrond promises to improve scalability. It is also a PoS chain, and sharding enables Elrond to deliver a throughput of a stunning 12,500 TPS.
Another notable point about Elrond is that it uses a unique mechanism to ensure network safety. It changes the validators every 5 seconds or after each new block so that no validator can manipulate the network.
Calling all @ElrondNetwork Validators 🛠️
elrond-go v.18.104.22.168 is here, with an improvement to how trie synching uses storage, and other fixes. No activation epoch needed.
It's time to upgrade! 🔥
— Lucian Mincu (@lucianmincu) April 12, 2022
Also, the ELGD token seems to be a bit under the weather currently. But, we did find some important updates that could lead to a positive price movement:
- Come April 15th the Metabonding claims of new tokens start. This is a bootstrapping product that will help Web 3.0 start-ups. For instance, it connects projects to the Elrond community. The Metabonding will take place on the Maiar DEX.
- The Elrond -Ethereum bridge is almost complete. This is big because it will also connect other EVM-compatible chains. This will bring new capital to the Elrond ecosystem. It gives an impulse to Elrond’s DeFi 2.0. Once more pointing out how important cross-chain is.
- Elrond also announces its first stable swap DEX. Meet AshSwap, that is building this DEX. This will offer a tighter spread. In addition, it requires a lot less liquidity. A welcome addition to the Elrond ecosystem.
- At last, but not least, the end of this 2nd quarter sees staking phase 4 rolling out.
Moreover, EGLD saw an 18.6% correction during the last 14 days. However, last month saw an overall increase of 16.2%. Here’s our price analysis of ELGD:
Bullish Scenario: EGLD is trading above the $151.30 support level. If it remains above this zone and the $181.80 resistance level is broken, we could see a move towards $215.94, $253.60, and above.
Bearish Scenario: For a few days, EGLD has been in a downtrend channel so we are not out of the bearish territory completely and failure to hold the support at $151.30 could lead to a drop to $126.34, $103.60, and lower.
Altcoin 3: ZILLIQA
This coin was piping hot last month. Of course, we are talking about Zilliqa. A project that you shouldn’t overlook. With a handsome 202% increase in price, it had everybody’s attention last month.
#MeteoricMarch – what a month it was! From dominating the news, signing deals with @Agora_awards & @MADLions, welcoming new talent, growing our global visibility and prepping for @themetapolis #miami, March set the tone for Zilliqa's 2022 growth plans. 📈https://t.co/E8dNgVqAlh pic.twitter.com/Z1GqaL77Zf
— Zilliqa (@zilliqa) April 11, 2022
Also, at the root of this steep price increase is the launch of Metapolis. The metaverse of all metaverses. Putting Zilliqa at this moment on top of the Metaverse worlds. It’s probably an understatement that this took the crypto space by surprise. So, here’s a bit more background information on Metapolis:
- It is a Metaverse-as-a-Service platform, the first of its kind in the world. As such, it plays an important part in bridging the physical and digital gaps between these 2 worlds. Furthermore, jumpstarting Metaverse as the next internet.
- As such, it is an open platform, offering a digital identity or a channel for business (MaaS)
- It will have land sales, as NFTs. You can trade, develop these, or lease them out.
Moreover, there’s plenty more to do, see, and experience. As a visitor or participant, you can:
- Create avatars
- Take part in P2E gaming
- Visit events, like concerts or fashion shows.
- Use MetapoliFi, a DeFi pool for lending, trading, or staking. For tokens and NFTs.
- Join mixed reality portals. Take full advantage of VR and AR.
In addition, this gives you an idea of why Zilliqa saw such a price increase. To conclude Zilliqa, here is our price prediction analysis about Zilliqa:
Bullish Scenario: ZIL might retrace back to support levels of $0.10 since it has gained 400+% at price over the last few months. After retracements, if ZIL manages to break above the resistance level at $0.14 then it would be bullish. Breaking above the $0.17 price level with significant buying volume will lead to a move towards $0.20 and above.
Bearish Scenario: ZIL has been in an uptrend for the last few months so we don’t have a strong bearish bias for mid-term yet. However, If the support level of $0.08 doesn’t hold then it will drop further towards $0.05 and below sooner or later.
Altcoin 4: TERRA LUNA
Coin #4 is actually one of the favorite crypto coins around – Terra LUNA. The big engine behind this is Terra buying Bitcoin as a backup for their UST stablecoin. Up to $10 billion BTC. That’s something we all may know by now. However, now the Luna Foundation Guard just added $100 million worth of AVAX to its reserves. Furthermore, there was also a $100 million Treasury Swap with TFL (Terraform Labs).
6/ In particular, Avalanche’s subnets are a powerful method for building the next generation of scalable Web3 applications within niche use cases.
As a result, Terra and Avalanche will be collaborating on a new gaming subnet – with details to be released at a later time.
— Terra (UST) 🌍 Powered by LUNA 🌕 (@terra_money) April 7, 2022
Besides BTC, this is the first big-name crypto that’s added to the reserve. This makes the pool of assets supporting the UST peg diverse and non-correlated. Another sample of cross-chain plays an important role. Terra has recently collaborated with Avalanche.
Also, the whole Avalanche ecosystem will benefit from this:
- DeFi protocols, native to Terra, are considering bridging into the Avalanche ecosystem.
- Terra and Avalanche are working together on a new gaming subnet. More details to follow.
- It shows the importance of layer 1s working together.
- UST adoption in Avalanche is increasing.
Moreover, this move even cements USTs position in the market even further. However, is this an answer to the move by NEAR, as we mentioned earlier? This could entice Terra users to choose Luna over Near.
Altcoin 5: BOBA NETWORK
The last option from altcoins for today’s video is the Boba Network. The only coin out of these 5 that had green candles in the last 7, 14, and 30-day period. Therefore, the Boba network improves the transaction capacity of Eth. It is a layer 2 solution that scales and augments the Ethereum chain. For this, they use Optimistic Rollups.
🚄 faster – transactions take seconds
💰 cheaper – up to 60x less
🤓 smarter – use IRL data on-chain
— Boba Network ($BOBA) (@bobanetwork) April 9, 2022
Moreover, they are fairly new kids on the block and didn’t launch until August 2021. One of their spear points is the specialization in microtransactions. The gaming world uses these a lot. Their recent upswing has 3 benefitting factors.
- Their recent Series A funding round raised $45 million. Investment firms and crypto-related projects alike participated. Infinite Capital and Dreamers VC vs Huobi and The Graph. This fund will improve its efforts to give the general public easier access to crypto.
- A new incentive program: WAGMI V2. This will help their liquidity mining and ecosystem growth. Furthermore, they want to attract more developers. Active users will receive WAGMI rewards. Today, April 12th sees a new Dual-Yield liquidity mining pool on Celer. This USDC/BOBA pool has a 100,000 WAGMI and a 114,030 CELR reward.
In addition, this program will run throughout all of April. Out of $3 million in Boba rewards, $2 million is for LPs. Another $1 million is in reserve. The condition for releasing this fund is simple. OolongSwap needs to reach $25 million in trading. The Boba network ecosystem grew. As a result, their TVL went up. It now sits at $712 million.
The last 30-days saw a 44% increase. So, before we wrap this up, here is Boba Network price prediction analysis:
BOBA is trading above the $1.35 support level. If it remains above this zone and the $1.55 resistance level is broken, we could see a move towards $1.92, $2.2, and $2.52.
Bearish Scenario: BOBA has been in a downtrend for the last few months so we don’t have a strong bullish bias for the long-term yet. If the support level of $1.35 doesn’t hold then it will drop further towards $1.16, $0.90, and below sooner or later.
Finally, at least for this week. Despite this week’s red charts, we found some altcoins with positive news:
- Near protocol and Zilliqa attract lots of attention. They have some great price runs.
- Elrond staying in the spotlights.
- Interesting cooperation between Terra LUNA and Avalanche.
- We sign off by mentioning some good developments on the Boba Network.
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