In the ever-evolving cryptocurrency market, Cronos and Arbitrum, two prominent tokens, are experiencing distinct trajectories. Buoyed by bullish momentum, Cronos showcases signs of potential upward movement, with traders closely monitoring key resistance levels. Conversely, Arbitrum faces challenges following a significant drop in price after a substantial token unlock event in March.
Meanwhile, the launch of DeeStream attracts both Cronos and Arbitrum holders as this emerging platform aims to rival leading streaming services. Moreover, investors who see DeeStream’s great potential are already rushing to grab their slots in the presale to not miss out on future exponential gains.
Cronos Price Analysis: Bulls Take Charge
In the world of Cronos trading, it seems the bulls are calling the shots. The price of Cronos is forming what experts call an ascending triangle, indicating a potential upward trend. On the 24-hour chart, Cronos appears to be trading in an ascending channel pattern, although the bullish momentum seems a bit weak. Nonetheless, if the resistance at $0.1565 is broken, Cronos could see a rally towards $0.1570.
Zooming in on the hourly chart, we see Cronos trading in a range-bound pattern, with bulls firmly in control. A bullish trendline has been providing solid support and resistance levels. However, the market is not without its uncertainties. While indicators show a generally bullish sentiment, there are some hints of bearishness as well. The RSI sits at 53.74, signaling neutrality for Cronos. Similarly, the MACD indicates a sideways trend with little directional movement.
Arbitrum Price Analysis: Facing Challenges
At the time of this analysis, Arbitrum was trading at $1.46, but its price took a sharp downturn after 1.1 billion Arbitrum tokens were unlocked in March. This significant event led to a drop of over 30% from its peak about 20 days ago. The Relative Strength Index (RSI) tells us about investor sentiment. It dropped from 75 on March 13th to 51, indicating decreased confidence among investors, possibly due to the large influx of new Arbitrum tokens.
Arbitrum faced a “death cross” in its EMAs in March, historically signaling major declines and negatively impacting investor sentiment. It, coupled with the drop in RSI, suggests investors’ weakening appetite for Arbitrum. As competition among Ethereum layer2 solutions heats up, Arbitrum’s weak performance could potentially drive its price down to critical support levels at $1.22 and $1.03, with a possibility of dropping even lower to $0.98.
The Launch of DeeStream Attracts More Crypto Holders
DeeStream is innovating the online streaming sector as the pioneer decentralized platform linking content creators and global fans. Its revenue streams, including Sponsored Advertising, Platform Fees, and Subscription Fees, result in a 50/50 revenue split with presale token holders. Unlike conventional streaming platforms hindered by bans and withdrawal delays, DeeStream promotes freedom of expression.
With more than 17,000 registered users and 3,200 investors, DeeStream is currently advancing through Stage 2 of its presale, offering DST tokens at a rate of $0.06. The presale encompasses a total of 6 stages, with team tokens locked for 1,000 days and liquidity locked indefinitely, emphasizing security and transparency. Early investors enjoy perks like early access to platform features, a 50/50 revenue split, and the chance to influence the platform’s trajectory.
Find out more about the DeeStream presale by visiting the website here
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