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Crypto news: Cosmos, Verge and Chiliz

source-logo  en.cryptonomist.ch 04 July 2023 10:26, UTC

What crypto news has recently involved the Cosmos (ATOM), Verge (XVG) and Chiliz (CHZ) coins?

Let’s take a closer look at them below with a special focus on their price trends as well.


Focus on the price of crypto Cosmos: performance compared with Verge and Chiliz

Based on the latest data, we see that crypto Cosmos (ATOM) is trying to recover the psychological level of $10. However, some fundamental and technical indicators are not aligned, raising doubts about its ability to break above $10 in the short term.

Since the big crash on 10 June, ATOM has consistently recorded higher lows and higher highs on the 4-hour chart, indicating a bullish trend.

However, bullish traders will face significant resistance near $10.1, which corresponds to a bearish order block (OB) formed on 6 June on the 4-hour chart.

This level could represent strong resistance unless bullish traders can break above $10.5. However, if bulls fail to hold their position, sellers could emerge in the bearish OB.

We also see that the RSI indicates an overbought condition, while the OBV shows an increase, indicating more buying pressure and demand in recent days.

According to Santiment, ATOM trading volume peaked at 123 million after the price touched $9.2 on 30 June, but has since dropped to around 67 million. This significant drop could indicate an easing of upward pressure despite the rally.

Over the same period, development activity has flattened, which could affect long-term investor confidence. In addition, financing rates have turned negative, creating further obstacles for bullish people in the short term.

In conclusion, bullish people may prefer to wait for a new pullback test in the mid or low range to re-enter the market in case ATOM fails to overcome the bearish OB.

Verge’s (XVG) impressive jump: +300%

The crypto Verge (XVG) recently experienced an impressive increase of nearly 300% in the last week, bringing its market capitalization to $96 million. As we know, Verge is a cryptocurrency recognized for its focus on privacy and anonymity.

According to CoinGecko data, it has attracted the attention of cryptocurrency watchers worldwide, with a trading volume of $489 million in the past 24 hours.

First introduced in 2014, Verge gained popularity in 2017 during the Bitcoin-driven boom. Its unique offering is based on providing a fast, efficient and privacy-focused blockchain for transactions.

Related to this, some experts have suggested that we are experiencing a “dino cryptocurrency renaissance,” with a possible shift in market attitude from “meme coins” to these so-called “dinosaur coins”-cryptocurrencies that have been around for a long time but may have been overshadowed by the new and trendy ones.

Verge is not the only veteran altcoin on the rise; as a matter of fact, both Bitcoin Cash (BCH) and Litecoin (LTC), which are “dino proof of work coins,” have also made significant gains recently.

However, it is still too early to tell whether this trend will continue over time, but it has certainly renewed interest in the veterans of the cryptocurrency world.

Chiliz: strong buyer support will be needed to recover

The Chiliz price prediction indicates that the CHZ token is currently in an early recovery phase. That is: the price of CHZ is forming an ascending pattern below the crucial EMA.

However, the price needs strong support from buyers in order to recover, as it is facing significant resistance from previous levels and multiple moving averages.

In the short term, the price may attempt a bullish recovery. However, as it is trading below the key levels of the EMA, buyers will have to break through several levels of resistance to reach the desired target.

We also see that investor sentiments regarding the price of Chiliz are showing a 50.97% decline in bullish sentiments.

This decline in metrics suggests that investors are temporarily losing interest in tokens in the various social media communities.

Not only that, LunarCrush‘s declining metrics also indicate that the community on different social media platforms is currently not very engaged with respect to the CHZ cryptocurrency.