The cryptocurrency market advances in the third trading week of August, Bitcoin is trading very close to the resistance of $ 50,000, and for now everything indicates that the price could rise above this level again. The cryptocurrency market continues to attract retail investors, and according to crypto analytics firm Chainanalysis, global crypto adoption among retail investors has soared more than 800% since the beginning of the year – led by India, Pakistan, and Ukraine.
«In emerging markets, many turn to cryptocurrencies to preserve their savings against currency devaluation, send and receive remittances and conduct business transactions, while adoption in North America, Western Europe and East Asia during the last year it has been driven largely by institutional investors, ‘reported cryptanalysis firm Chainanalysis.
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If this positive trend continues, Uniswap UNI / USD, Tezos XTZ / USD and Fantom FTM / USD could be some of the best in September. Lyn Alden Investment Strategy founder sees Bitcoin reaching $ 100,000 and Etheruem advancing above $ 5,000 in early 2022, while analyst Cathie Woods said Bitcoin could hit the $ 500,000 level in the next few years.
Uniswap (UNI) could advance above $ 35 resistance in positive trend continues
Uniswap (UNI) price has been advancing since the beginning of August and, for now, there are no signs of a trend reversal. Uniswap could move further into the ongoing bull market, and if the price jumps above $ 35, the next price target could be around $ 40 or even higher.
On the other hand, if the price falls below $ 25, it would be a firm “sell” signal, and we have the path open to the $ 20 support level.
Tezos (XTZ) has found strong support above $ 3
Tezos has risen from $ 3 above $ 3.8 since early August 2021, with the current price hovering around $ 3.7.
Critical support levels are $ 3.5 and $ 3; $ 4 and $ 5 represent important resistance levels. If the price rises above $ 4 again, it would be a signal to trade with Tezos (XTZ), and the next price target could be around $ 4.5.
Fantom (FTM) May Advance Above $ 0.70 Resistance Again
The Fantom (FTM) price is currently trading around $ 0.50, but the technical outlook implies that the price may rise above the $ 0.70 resistance in September again.
If the price rises above $ 0.60, it would be a signal to buy Fantom (FTM), but if the price falls below $ 0.40, it would be a firm “sell” signal and a trend reversal signal.
August has been a very positive month for the cryptocurrency market so far, Bitcoin is trading very close to the $ 50,000 resistance, and for now everything indicates that the price could rise above this level again. If this positive trend continues, Uniswap, Tezos and Fantom could be some of the best in September.
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