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So, everyone knows that the crypto market took a ginormous $2 trillion loss last month following the collapse of Terra/Luna cryptocurrency. For a while, things in the crypto market looked genuinely shaky, with many wondering if the whole cryptocurrency world was crashing down into an ignominious end.
For sure, some people have taken heavy losses and, while that is unfortunate, crypto is still very much here and going strong. In fact, some coins are not just holding value but look set to explode over the next month. We look at three of them, Chronoly (CRNO) which is currently up 300% during its presale, Monero (XMR) and Decentraland (MANA).
Monero (XMR) is looking good
Monero (XMR) experienced a 75% rally in May leading some to believe that a sharp correction could be due in June. But a look at the fundamentals may say otherwise.
Due to Monero XMR’s relative strength index (RSI), which nearly exceeded 70 on May 23, signaling that the market is overpriced, downside risks have been increasing. As a rule of technical analysis, an oversold RSI indicates a period of downward price movement. Furthermore, Monero (XMR) is forming a bearish reversal pattern known as the rising wedge. When the price moves within a range indicated by two ascending, converging trendlines, rising wedges form. As they do, volumes often fall, indicating a lack of confidence among traders in the price move to the upward.
Rising wedges usually resolve when the price breaks below its lower trendline, followed by a long advance to the level that traders find by adding the maximum wedge’s height to the breakdown point.
Decentraland (MANA) aims high
In the last seven days, the price of Decentraland (MANA) has decreased by 6.52 percent. In the last 24 hours, the price has risen by 3.33 percent. The price has increased by 0.47 percent in the last hour. RSD 112.409539 per MANA is the current price. Decentraland (MANA) is currently trading at RSD 644.3685, down 82.56 percent from its all-time high.
On June 1, 2022, Decentraland (MANA) was mentioned in 5,977 of 1,748,752 social media postings on Twitter and Reddit. Decentraland (MANA) is being discussed by 5,245 distinct people, and it is now ranked #47 in terms of most mentions and activity from collected posts. This would indicate a lot of interest and potential investor activity in the offing.
Chronoly (CRNO), coiled like a spring.
Chronoly.io and its token $CRNO, are the world’s first blockchain-based platform for buying and selling rare watches, including those from prominent brands like Richard Mille, Audemars Piguet, Rolex, and Patek Philippe.
This unique concept and application of NFT and blockchain technology is forecasted to disrupt the $64bn watch industry and has many analysts excited about the future growth potential of the chronoly token. On the Chronoly.io platform users can trade NFTs that are asset-backed by the physical version of the watch just like trading gold or any other commodity on the stock market. These NFTs have all of the watches serial numbers, certificate details and ownership history stored in the metadata and can be verified by anyone on the blockchain. This is the first time a project has utilized NFTs and luxury watches in this way and has begun to gain a lot of tractions as crypto investors look for crypto tokens that are more stable and are linked to real-world assets and allows cryptocurrency investors to send funds to off-chain collectible assets while staying on the blockchain.
Chronoly (CRNO) has sold over 140 million tokens so far and its price has gone from $0.01 to $0.04, which is a 300% increase. Analysts expect the token to rise around 5,000% once CRNO officially releases on a centralized exchange.
Presale: https://presale.chronoly.io/register
Website: https://chronoly.io/
Socials: https://linktr.ee/chronolyio
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