The cryptocurrency market is advancing in the third trading week of August, Bitcoin is trading very close to $50000 resistance, and for now, everything indicates that the price could advance above this level again. The cryptocurrency market continues to attract retail investors, and according to crypto-analysis 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 cryptocurrency to preserve their savings in the face of currency devaluation, send and receive remittances, and carry out business transactions, while adoption in North America, Western Europe, and Eastern Asia over the last year has been powered largely by institutional investors,” the crypto-analysis firm Chainanalysis reported.
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If this positive trend continues, Uniswap UNI/USD, Tezos XTZ/USD, and Fantom FTM/USD could be some of September’s best performers. The founder of Lyn Alden Investment Strategy sees Bitcoin hitting $100,000 and Etheruem advancing above $5,000 by the beginning of the 2022 year, while the analyst Cathie Woods said that Bitcoin could reach the $500,000 level in the upcoming years.
Uniswap (UNI) could advance above $35 resistance in the positive trend continues
Uniswap’s (UNI) price is advancing since the beginning of August, and for now, there is no sign of the trend reversal. Uniswap could advance even more in the ongoing bull market, and if the price jumps above $35, the next price target could be around $40 or even above.
On the other side, if the price falls below $25, it would be a firm “sell” signal, and we have the open way to the $20 support level.
Tezos (XTZ) has found strong support above $3
Tezos has advanced from $3 above $3.8 since the beginning of August 2021, and the current price stands around $3.7.
The critical support levels are $3.5 and $3; $4 and $5 represent the important resistance levels. If the price jumps again above $4, it would be a signal to trade Tezos (XTZ), and the next price target could be around $4.5.
Fantom (FTM) may advance again above $0.70 resistance
Fantom’s (FTM) price is currently trading around $0.50, but the technical picture implies that the price may advance again above $0.70 resistance in September.
If the price jumps 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 sign.
August has been a very positive month for the cryptocurrency market so far, Bitcoin is trading very close to $50000 resistance, and for now, everything indicates that the price could advance above this level again. If this positive trend continues, Uniswap, Tezos, and Fantom could be some of September’s best performers.
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