The cryptocurrency market on the last day of March wowed some investors in the space when Bitcoin fell nearly $ 2,000 in minutes and all of the major coins suddenly turned red. On entering April I would like to suggest 3 Altcoins to see in April as they have some updates to share.
Starting with GRT, the token of the graph – Google the blockchain. Regularly querying data in a blockchain would require an engine to search for the particular data packet in all blocks from block 1, which is very time-consuming. To increase the speed of a search, projects usually use data storage projects like Filecoin and Storj or build their own database. For a decentralized world, such an approach is a bit impractical as the dApp and its end user now have to rely on the controlled database. This is where the graph comes in with its indexing protocol.
The graph is a protocol for querying blockchain data with the project’s own GraphQL. Anyone can create an API and query data from projects to replicate in the application. These APIs are called subgraphs. Currently the graph hosts all subgraphs that have ever been built on their hosted service.
In April, the graph will convert the protocol to a mainnet network where all subgraphs will be stored and developers will have a single gateway to request all the data they need for their app.
The graph already supports projects such as Aave, Uniswap, Balancer, CoinGecko, Synthetix, Decentraland and others. The project claims they support broader decentralization on Web3 and DeFi and want to eliminate the possibility of APIs, servers and databases becoming the central point of failure and control.
From a technical perspective, the BRT / USD remains bullish above the support zone (pink rectangle) and above the dynamic resistance of the local high (pink line). According to the price action on the chart, GRT appears to be about to form an inverted head and shoulders pattern and jump to $ 2.15, although this should only be confirmed if the altcoin is above the previous resistance of $ 1.88 breaks. Closing above $ 2.15 will support another jump towards $ 2.72. If GRT maintains the bullish pace, it will hit $ 3.20 by the end of April.
There was a big loophole in terms of a trading platform, traders were broken down into fractions globally, while some liked the simplicity of the trading platform on an exchange, others wanted more tools to solidify their signals. Another inconvenience is the availability of a particular token at an exchange where a particular user does not have an account or does not use much. Even if he did, he would have to transfer money, wait for the transaction to complete, open the platform, remember the platform, etc. No longer with an all-in-one shop called Orion Protocol. The Orion protocol offers seamless trading and swaps between CEX, DEX and swap pools, all on one platform, one account. Just connect your wallet. The fees allocated for all activities are paid in ORN tokens. As the user base of the platform increases, so does the volume and price of ORN. Since the start of the first test network, the ORN token price has increased by more than 400%. The test network phase was multi-phase and at each phase users were given access to the test network to trade on the platform while the majority of users were still on hold, waiting for the main network to start.
According to technical analysis, ORN / USD is in the uptrend channel and uptrend sentiment remains. There is resistance at $ 26.7 that will disrupt the bull run. However, if the resistance is overtaken, ORN will move towards USD 29 and to USD 33 above that level.
Neo, one of the oldest alternatives to the Ethereum blockchain, brought the N3 mainnet onto the market. The timing for the introduction of the update, which will make the Neo-Blockchain an “all-on-one” infrastructure, cannot be better as there are obvious concerns in the Ethereum network. Neo N3 offers updates such as integrated oracles, on-chain governance, decentralized identity protocol and the NeoFS distributed object storage system, which is expected to be introduced in April. As stated in the project, the new version of the blockchain increases the transaction speed from 1 KB per second to 5 KB per second and reduces transaction fees by 100 times. Low transaction fees will definitely give Neo an edge over Ethereum, as the well-known “high gas fees” on the Ethereum blockchain have been hurting users for some time. Two notable features of N3 are native oracles and decentralized storage, which means that dApp developers rarely or never need to use Chainlink and Filecoin.
There is a big impetus for NEO / USD which signals the continuation of the rise within the uptrend channel.
NEO price for Overbit
The first resistance that could detract from the uptrend is at $ 50.50. If NEO is able to close above this resistance, there is a great chance the coin will continue to climb towards $ 55 and $ 60.
There are several points of support that support NEO’s uptrend (see table below).
NEO price for Overbit
As seen on the 4H NEO / USD chart above, the pair has made an important contribution to the continuation of the uptrend, specifically a break out of the symmetrical triangle. NEO has also tested the top of the triangle as a support, which is also an important step in confirming the trend continuation. While RSI shows NEO is overbought, the MACD line is still above the signal line and the last completed 4H candle touched the MA100 and EMA50 indicators to turn them into their props.
Next Author: Aziz Kenjaev
Senior Vice President at Overbit. Technical Analyst, Crypto Enthusiast, Former Vice President at TradingView, Medium and Long Term Trader, trades and analyzes the Forex, Crypto and Commodities markets.
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